The Fiscal Physical Podcast

By: Ryan Nelson & Aaron Hoisington
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  • Summary

  • Welcome to The Fiscal Physical Podcast, where financial empowerment meets expert insights! Join host Aaron Hoisington in dynamic conversations with Ryan Nelson, owner of Alchemy Wealth Management and author of "Your Fiscal Physical." Whether you're a finance novice or a seasoned investor, each episode demystifies financial concepts, providing practical tips tailored for every stage of your financial journey. Our engaging discussions aim to make finance accessible and exciting for everyone.
    © 2024 The Fiscal Physical Podcast
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Economics Personal Finance Personal Success
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Episodes
  • #40 Securing Your Estate: An In-Depth Look at Probate and Wills

    #40 Securing Your Estate: An In-Depth Look at Probate and Wills
    Oct 1 2024

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    What happens to your assets after you're gone? Join us for our 40th milestone episode of the Fiscal Physical Podcast, where Aaron Hoisington and Ryan Nelson guide you through the essential aspects of wills and the probate process. We'll cut through the legal jargon to provide a clear understanding of how a last will and testament can safeguard your wishes, and explain the often confusing probate procedure. Dive into why consulting an estate planning attorney is crucial for either setting up a will or a trust, potentially sparing your loved ones from a drawn-out probate process.

    Navigating multiple marriages and blended families in estate planning can be a minefield, but we've got you covered. Ryan Nelson shares his personal strategies for setting up beneficiaries and transfer of death designations, even touching on the creation of holographic wills as a stopgap measure. Plus, we indulge in a lighter conversation about our love for sports—from the Green Bay Packers to local college teams, capturing the excitement of live events. Remember, while our insights are invaluable, they're for informational and entertainment purposes; always seek personalized advice from qualified professionals tailored to your financial needs.

    Find "Your Fiscal Physical" the book on Amazon at: rb.gy/3shpfk

    If you have suggestions or feedback, please email us at: Podcast@AlchemyWealth.com

    And, as always, STAY THE COURSE!
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    16 mins
  • #39 Preparing for Tomorrow: The Ins and Outs of Long-Term Care

    #39 Preparing for Tomorrow: The Ins and Outs of Long-Term Care
    Sep 24 2024

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    How prepared are you for the inevitable complexities of aging? We kick off this episode by confronting a common oversight: long-term care needs, particularly among individuals in their mid-30s. Ryan Nelson joins us to emphasize the critical importance of early planning. From understanding what Activities of Daily Living (ADLs) entail to recognizing that regular insurance often doesn't cover long-term care services, we break down why this aspect of financial planning should be a priority. Licensed insurance professionals can offer invaluable guidance, and Ryan underscores the importance of differentiating between insurance and investments in a well-rounded financial strategy.

    Planning for the future can be daunting, especially when it involves predicting long-term care costs. Did you know that around 70% of people over 65 may require long-term care? We dive into scenarios where substantial savings might allow one to self-insure versus relying on federal resources like Medicaid. Evaluating your personal financial situation is crucial in determining whether purchasing long-term care insurance is the right move for you. We explore the benefits and drawbacks of self-insuring versus opting for external insurance policies, offering insights to help you make an informed decision.

    Fascinated by demographics? You'll love our trivia segment on the median age in the United States and Japan. Discover why the median age in the U.S. is 38.9 years and why it's significantly higher in Japan at 49.9 years. We also clarify the difference between median and average, explaining why the median is often more useful in financial contexts. As always, we encourage you to subscribe, leave ratings, and explore additional resources like the Alchemy Wealth Management website and the book "Fiscal Physical." Join us as we stay informed and prepared for the financial aspects of aging.

    Find "Your Fiscal Physical" the book on Amazon at: rb.gy/3shpfk

    If you have suggestions or feedback, please email us at: Podcast@AlchemyWealth.com

    And, as always, STAY THE COURSE!
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    27 mins
  • #38 Paying Off Your House: Should You Do It, How to Decide, and Pros vs Cons

    #38 Paying Off Your House: Should You Do It, How to Decide, and Pros vs Cons
    Sep 17 2024

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    Have you ever wondered whether paying off your house early is the smartest financial move? Join us on the Fiscal Physical Podcast as we sit down with Ryan Nelson, founder of Alchemy Wealth Management, to unravel this age-old dilemma. Through a riveting discussion, Ryan guides us on a journey of assessing personal goals, risk tolerance, and the potential returns on investment. With a hypothetical scenario involving a 3% mortgage and an unexpected $100,000 inheritance, we explore the complex factors that influence such a pivotal financial decision.

    But the conversation doesn't stop there. We dive into the nuances of financial priorities and future planning, drawing from personal experiences and professional insights. Have you ever considered that your home isn't truly an asset until it's sold? Learn how extra mortgage payments could affect your investment opportunities in tax-advantaged accounts like Roth IRAs. And for a fun twist, we indulge in a light-hearted contemplation of winning a $70 million lottery, exploring the excitement and family dynamics that come with such a windfall.

    In the final segment, we tackle the challenges of managing large sums of money, using Shaquille O'Neal's early career spending spree as a cautionary tale. Discover how quickly fortunes can be depleted if not managed wisely, and the importance of prudent financial decisions. We also introduce a quirky website that lets you try to spend Bill Gates's $100 billion fortune, shedding light on the staggering difference between millions and billions. Tune in for a compelling episode that blends practical financial advice with thought-provoking discussions on wealth and responsibility.

    Find "Your Fiscal Physical" the book on Amazon at: rb.gy/3shpfk

    If you have suggestions or feedback, please email us at: Podcast@AlchemyWealth.com

    And, as always, STAY THE COURSE!
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    25 mins

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