In this heartwarming episode, Tim Goodwin welcomes Tara Bruce, the creative force behind Goodwin Investment Advisory's content, to explore the Danish concept of "hygge" — the art of coziness. The conversation weaves through personal stories, practical tips, and reflections on finding happiness and gratitude in the slower moments of life.

Tara shares her magical experience visiting Copenhagen, where she immersed herself in the wonder of winter, the charm of Christmas markets, and the intentionality of Danish culture. From sipping warm mulled wine in real mugs to embracing the glow of candles and fires, her journey emphasizes how simple joys and cozy spaces can bring a sense of peace and presence.

Key takeaways include:

• The Power of Environment: How thoughtful surroundings impact happiness and well-being.
• The Magic of Winter: Learning to appreciate the slower, reflective pace of the season.
• Hygge Practices: Ideas like lighting candles, enjoying warm foods, creating inviting spaces, and engaging with loved ones.
• Gratitude and Mindfulness: Simple practices like the "5 Senses Exercise" to help anchor you in the present.

The episode is a reminder to slow down, embrace simplicity, and find beauty in the everyday.

Ready to bring the spirit of coziness into your own life? Download our updated guide, The Art of Coziness, for practical tips to create a warm, inviting space and cultivate gratitude. Click HERE to access the guide and subscribe to our blog for more insightful content. Embrace the magic of the moment—because every day is a special occasion!

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In this podcast episode, host Tim Goodwin and guest Joe Beckford (affectionately called "Beckforth") discuss the role and benefits of fee-only financial advisors, addressing common misconceptions. Joe, a senior advisor at Goodwin Investment Advisory, explains that fee-only advisors are compensated solely by client fees, without commissions from third-party products. They delve into the three primary compensation models: Asset Under Management (AUM), which charges a percentage of managed assets; flat fees, which involve fixed payments; and hourly fees, billed for specific advice or services. Goodwin Investment Advisory prefers the AUM model as it aligns client and advisor interests, incentivizing portfolio growth while providing comprehensive financial planning, tax strategies, and risk management.

The discussion highlights that fee-only advisors are not inherently more expensive but focus on long-term value by minimizing fees, maximizing returns, and reducing financial anxiety. Transparency is a cornerstone of the firm's approach, with no commissions accepted since its founding, and clients are encouraged to ask about compensation and review credentials, complaints, and testimonials when selecting an advisor. The episode wraps up with a reflection on the meaningful relationships built through ongoing client engagement and a note of gratitude, emphasizing the importance of trust and collaboration in financial planning.

In this episode, Tim Goodwin and Justin Pitcock walk listeners through the Year-End Financial Planning Checklist designed to help you close out the year with a solid financial plan. The conversation covers critical topics like:

Estate and Disability Planning

Reviewing estate planning documents (wills, trusts, POAs, and healthcare directives).
Updating beneficiary designations to ensure alignment with your wishes.
Preparing a list of instructions for loved ones in case of death or disability.
Exploring the benefits of giving early inheritances within the annual exclusion limit.
Retirement Planning

Maximizing 401(k) contributions and understanding new catch-up contribution rules.
Evaluating the benefits of Roth conversions for long-term tax strategy.
Investment Planning

Rebalancing portfolios to ensure alignment with risk tolerance and time horizon.
Managing concentrated stock positions to mitigate risks.
Utilizing tax strategies like capital gains harvesting and loss carryforwards.
Tax Planning

Leveraging Health Savings Accounts (HSAs) for triple tax advantages.
Exploring donor-advised funds (DAFs) for streamlined and impactful charitable giving.
Utilizing state-specific tax strategies like Georgia's Heart and Goal Programs and SALT cap workarounds

Want to dive deeper into these strategies? Download our Curated End-of-Year Planning Guide to make the most of your financial planning this season. Download Now

If you're unsure where to start or need personalized guidance, schedule a no-obligation introductory call with our team. We're here to help! Schedule a Call

In this episode of the Money Pig Podcast, Herman Hugo, a client turned compliance expert at Goodwin Investment Advisory, shares his journey from Silicon Valley to Georgia and the financial strategies he used during major life transitions. The discussion covers navigating job changes, equity compensation, health insurance planning, Roth conversions, and retirement strategies like the Rule of 55.

The episode also touches on managing divorce and business sales, emphasizing the importance of expert guidance and collaborative planning to reduce stress and increase financial confidence.

If you’re navigating a life transition, schedule a free intro call to get personalized guidance and support from our team.
https://www.goodwininvestment.com/contact-us/

In part two of this engaging podcast series, we wrap up our discussion on the 10 most common financial mistakes wealthy individuals make in their 50s before retiring. With guest Joe Beckford IV, we tackle the final four mistakes and dive into actionable strategies to avoid them.

The episode highlights:

1. Forgoing a Retirement & Financial Plan: Many people excel at wealth accumulation but lack a strategy for how to manage it in retirement. A solid plan, including decisions about Social Security, pensions, and 401(k) rollovers, is critical.

2. Emotional Investing: Fear-driven decisions can lead to costly missteps. Hiring an advisor can provide an objective perspective and help you stick to a rational, long-term investment strategy.

3. Neglecting Diversification: While concentration might build wealth, diversification preserves it. The team discusses the importance of balancing investments across asset classes to mitigate risk.

4. Failing to Consider Estate Planning: A comprehensive estate plan, including a will, healthcare directive, and durable power of attorney, ensures your legacy is protected and minimizes stress for loved ones.

Joe shares practical insights and anecdotes, including the consequences of neglecting these essential financial decisions. This episode emphasizes the importance of intentionality and proactive planning to secure your financial future.

To dive deeper into these topics and learn about all 10 critical mistakes, check out our blog post, "Wealthy Woes: 10 Mistakes Wealthy Individuals Make in Their 50's Before Retiring". It’s packed with insights to help you avoid common pitfalls and plan effectively for retirement. Don't miss out!

In this episode, we explore the first six of ten common mistakes that wealthy individuals often make in their 50s as they approach retirement. We discuss the importance of reassessing investment strategies, the risks of not planning for healthcare costs, and the pitfalls of underestimating longevity. We also delve into the consequences of ignoring tax-efficient strategies, the dangers of overconcentration in certain assets, and the oversight of not updating estate plans to reflect current wishes.

This is part one of a two-part series aimed at helping you navigate the complexities of retirement planning. To gain deeper insights and avoid these costly errors, we encourage you to read our detailed blog post, "Wealthy Woes: 10 Mistakes Wealthy Individuals Make in Their 50's Before Retiring". Stay tuned for our next episode, where we'll cover the remaining four mistakes and provide strategies to help secure your financial future.

In this informative episode, Goodwin Investment Advisory dives into healthcare options for those considering early retirement with guest expert Merle Jabr from Potter Risk Advisors. Many clients wonder if they can afford to retire early, but healthcare costs often stand in the way. Merle breaks down essential options for retirees under 65 who aren’t yet eligible for Medicare, including COBRA, retiree benefits, individual marketplace plans with potential subsidies, and medical bill-sharing programs like Metashare.

For business owners, Merle shares the often-overlooked small group plan, where a family LLC may qualify for more affordable healthcare rates. She also stresses the importance of understanding each plan’s details and potential limitations, helping retirees feel confident about leaving the workforce without sacrificing coverage.

If you’re considering early retirement and want more guidance, download Goodwin Investment Advisory’s free guide, Navigating Healthcare in Early Retirement. This resource covers healthcare options, costs, and tips for creating a healthcare plan that fits your lifestyle—so you can pursue retirement on your terms.

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The podcast features a discussion with Merle Jabr, a health insurance expert who has helped many retirees navigate their Medicare options, including group plans for businesses. The host, Tim Goodwin, opens with a light-hearted dad joke but quickly shifts her focus to Medicare, outlining its importance for those nearing age 65 or those with disabilities. Merle explains that while most Americans become eligible for Medicare at age 65, certain individuals can qualify earlier if deemed totally disabled through the Social Security Administration.

The conversation covers various Medicare parts:

• Part A (hospitalization and skilled nursing), which is generally premium-free due to payroll taxes paid during working years.
• Part B (doctor visits, diagnostic testing), which has a premium based on income and may involve additional surcharges.
• Part D (prescription drug coverage), which covers medications, though beneficiaries can choose different plans to fit their needs.

They also discuss Part C (Medicare Advantage), which is marketed as a lower-cost alternative to the traditional A, B, and D plans but comes with a network of care providers that may limit hospital choices. Supplement plans (Medigap) that fill coverage gaps for costs not covered by traditional Medicare are also explored.

Merle emphasizes the importance of planning for Medicare premiums based on income, suggesting individuals start planning for enrollment a couple of years before turning 65 to minimize the impact of income-based surcharges.

The podcast closes with Merle sharing a personal gratitude story about her son, Phoenix, and information on how listeners can contact her company, Potter Risk Advisors, for further assistance. If you are looking for an advisor that cares about you and all the aspects of your retirement including insurance coverage, even though we do not sell it or make commissions, please reach out to Goodwin Investment Advisory to schedule an introductory call. We would love to help guide you in creating a retirement plan that is tailored to your specific needs and goals. We love helping clients retire to a meaningful and purposeful retirement.

Goodwin Investment Advisory is a Registered Investment Advisory firm regulated by the Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Goodwin Investment Advisory does not render or offer to render personalized investment or tax advice through the Money PIG podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.