For ​a ​lot ​of ​people, ​giving ​money ​to ​charities ​or beneficiaries ​that ​are ​close ​to ​them ​is ​very ​important. ​But ​oftentimes ​it's ​done ​as ​part ​of ​the ​estate ​planning process. ​Now we’re seeing a trend where more and more people are deciding to give while they’re still alive. Is this a good idea? ​Today's ​episode ​is ​all ​‘giving while you’re living’ and the planning decisions that go into gifting money now.

This approach allows individuals to see the impact of their generosity firsthand, guiding their loved ones in making wise financial decisions. Wade shares a personal story involving his father, who decided to start gifting money to his grandchildren. This anecdote sets the stage for a deeper dive into the rules and considerations around gifting.

Here’s some of what we discuss in this episode:

• Why a conversation with his dad sparked this conversation for Wade.
• How much can you give each year without having to file IRS forms?
• The lifetime exemption amounts per person and per married couple.
• What you need to consider before starting your gifting.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

“Test everything; hold fast what is good.” - 1 Thessalonians 5:21.

In that verse, the Apostle Paul teaches that we should practice discernment in all things and we submit that includes financial advice. So this episode will tackle a common question: What should you ask a potential financial advisor?

When it comes to choosing someone you can trust and who is a good fit for your financial situation, it’s essential to ask the right questions. We discuss key factors to consider when interviewing financial professionals, from investment advisors to estate attorneys. Plus, we share valuable insight from Kingdom Advisors, which has over 1,600 Certified Kingdom Advisor professionals, and provide a comprehensive list of questions you should ask when interviewing any financial expert. Tune in for expert guidance on how to find the right financial advisor for your needs.

Here’s some of what we discuss in this episode:

• The first thing you might want to find out is how long your candidate advisor has been on the job.
• What you can ask to help form reasonable expectations.
• Referrals are extremely important, and they should be current or recent contacts.
• A set of questions that you may be uncomfortable with, but you need to ask them anyway.
• Don’t be afraid to ask about how your candidate expects to be paid.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Retirement is a phase of life that many of us look forward to, but what happens when it comes earlier than expected? An early retirement can put stress on your finances if you aren’t prepared and this episode will get into the challenges and planning opportunities you can expect.

Did you know that most Americans retire earlier than planned, often due to unforeseen circumstances like health issues or job changes? According to research by the Transamerica Center for Retirement Studies, 60% of Americans retire earlier than expected, with a median age of 62. This unexpected shift can leave many unprepared for the financial demands of a longer retirement. Wade Chessman shares his insights on why early planning is crucial and how to navigate these challenges effectively.

Here’s some of what we discuss in this episode:

• The reasons why people often find themselves in a position like this.
• The different areas of financial strain that you might feel.
• When should you start planning and how do you prepare yourself for this possibility?
• What other ways do people find happiness in retirement besides money?

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.