What to Do Before You’re Gone

So recently I created a little template that I like to call the “Financial Contentment Letter”. And it is really a discussion starter and thought provoker for clients to start to take action on their estate planning.

Podcast Details:

Podcast Title:  What to Do Before You’re Gone
Podcast Series: Financial Literacy Boot Camp
(Video and illustrations available on our YouTube channel here.)

 

So recently I created a little template that I like to call the “Financial Contentment Letter“.  And it is really a discussion starter and thought provoker for clients to start to take action on their estate planning.  This is a good document to go over before you create a will, medical & health care directives, or power of attorney because it helps you think through the things necessary in all those documents.

So I wanted to take the time during this show just to walk through the rationale behind my creation of this document and some of the experiences I’ve had that point to its importance.

A document like this would have been really helpful when my wife’s father passed suddenly a week after I graduated college. One of the last things your family is going to want to do is endure during the grieving process is trying to figure out what bills need to be paid and where the bank accounts are and what the passwords are.  These are simple things that family “CFOs” take for granted.

Since this document is designed to be a conversation starter and thought provoker, it’s going to make you think of things like:

  • Does my spouse know the passwords to all the financial accounts?
  • Is there a safe or lockbox that my spouse doesn’t know about?
  • What are all the financial institutions and life insurance companies where we have accounts?
  • What are the phone numbers and/or the names of the representatives of those companies (e.g. agents, bankers, etc.)?
  • Who are the beneficiaries on the account(s) we have?  Anyone that shouldn’t be on there?
  • Who would handle my estate?  Are there any individuals I should have a conversation with about this?  (e.g. adult children, trusted friend)

#financialplanning #taxstrategy #investmentstrategy #retirement #educationalplanning #estatestrategy #taxsavings #finlit #finance #money #financialadvisor #financialtips #financialadvice

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

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The Infamous 401(k) Rollover…The Why and The How

You leave a job and you have money in a 401(k) what should you do with it?

Podcast Details:

Podcast Title:   The Infamous 401(k) Rollover:  The Why and The How
Podcast Series: Financial Literacy Boot Camp
Video and illustrations available on our YouTube channel here.

Powerpoint Slides

Questions/Issues We’ll Address on this Episode:

  • There are two buckets of money…qualified or non-qualified (5:00)
  • What is a 401(k)? (6:00)
  • Is it mine?  (6:35)
  • Can I roll this into my new employer’s plan?  (10:35)
  • Can I still participate in my former employer’s plan?  (11:30)
  • How should I invest my  401(k)?  (12:33)
  • What is an IRA?  (15:35)
  • Why would I want to rollover my 401(k)? (17:00)
  • The steps to a 401(k) Rollover (19:00)

 

#financialliteracy #finlit #finance #financialplanning #financialeducation #advice #financialadvisor #money #finances #taxes #tips #retirement #investing #401k #401kplanning

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

 

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The Challenges Facing Financial Advisors in the 21st Century with Special Guest Tywanna Smith

I discuss the challenges facing financial advisors in the 21st century with special guest Tywanna Smith of Athlete’s Nexus

Podcast Details:

Podcast Title:  The Challenges Facing Financial Advisors in the 21st Century with Special Guest Tywanna Smith
Podcast Series: Financial Literacy Boot Camp
Video and illustrations available on our YouTube channel here.

 

Questions/Issues We’ll Address on this Episode:

I discuss the challenges facing financial advisors in the 21st century with special guest Tywanna Smith of Athlete’s Nexus (on Twitter @AthletesNeXus)

  • Who is Tywanna Smith (2:25)
  • Tywanna talks about her idea behind writing  “Surviving the Lights: A Professional Athlete’s Playbook to Avoiding the Curse”.  (4:50)
  • Tywanna and I dive into her book -“…
    • we don’t exploit athletes for revenue; we prepare them for life” (6:40)
    • How many athletes really understand how to leverage their brand to set up “life after the sport” (10:10)
    • For generations, the African-American culture has instilled a “loyalty” complex in its offspring to make decisions based on emotion rather than logic. (12:45)
    • Athletes operate best with good coaching, guidance, and teaching, and they are most receptive when someone connects with a level of understanding… (16:40)
    • As an athlete, how do you build a great team around you (20:04)
    • How athletes can use their current influence (29:30)
  • How to increase the level of financial literacy among athletes (31:25)

#financialliteracy #financialplanning #financialeducation #financialadvice #athletetransition #financialadvisor

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

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#FinancialLiteracyBootCamp

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The Art of Personal Branding with Marques Ogden

Marques and I discuss the “art of personal branding”.

Podcast Details:

Podcast Title:  The Art of Personal Branding with Marques Ogden
Podcast Series: Financial Literacy Boot Camp
Video and illustrations available on our YouTube channel here.

 

Questions/Issues We’ll Address on this Episode:

-Branding
-Social Media
-Marketing

-What to Include in your Digital Content Image (2:15)
-Marques top social media sites for personal branding (5:04)
-Differences in the use of social media across the age groups (7:30)
-Most important aspect of your personal brand (10:50)
-Is Twitter is optional? (13:45)
-Marques’ tricks of the trades for building followers (15:05)
-The obstacles that keep us from developing good personal brands (20:45)
-Preview for segment on personal branding for Marques’ upcoming academy (26:35)

#financialliteracy #personalbranding #marketing #socialmedia #entrepreneurship #smallbusinessowner

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

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The Importance of an Estate Plan: “Transferring Your Wealth and Wishes”

Podcast Details:

Podcast Title:  The Importance of an Estate Plan:  “Transferring Your Wealth and Wishes”
Podcast Series: Financial Literacy Boot Camp
Video and illustrations available on our YouTube channel here.

 

Questions/Issues We’ll Address on this Episode:
In today’s episode we continue the series we started about various case studies that I’ve come across and found interesting.  This week we’ll address the importance of an estate plan.  I think the general consensus from talking to many people is that they associate this level of readiness with something that has nothing to do with the importance of an estate plan.  What is the association?  I’m not going to die right now.  This association is misguided at best, and catastrophic at worst—I believe it is that they feel they have much longer to live and time to address the importance of an estate plan.  It also may be perhaps because they feel they don’t have a lot of assets to raise a fuss about, suffice to say, developing an estate plan is not as much about your date of death as it is about having a say.  Nonetheless, we will discuss what a properly formulated estate plan is really designed to do by using a couple of client case studies that underscore the importance of an estate plan.

  • The Common Misconception (2:25)
  • Giving yourself a Say (5:10)
  • Purpose of an Estate Plan (7:15)
  • Purpose of Probate Process (9:30)
  • Components of an estate plan (12:00)
  • Case Study of Mary (13:50)
  • Case Study of Suzy (16:17)

#estateplanning #wealthtransfer #financialadvice #financialplanning #financialliteracy

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Sign up for more our free newsletter with financial updates like these!

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com