Episode Summary:
In this episode of The DOC Podcast, I welcome Mr. Erik Brenner, a private wealth advisor with over 30 years of experience and the President and CEO of Hilltop Wealth and Tax Solutions. Erik is also the author of the Amazon bestseller, "The Personal CFO Revolution: A Comprehensive Guide to Navigating Your Retirement." Together, we break down the often overwhelming world of personal finance, offering practical advice for every stage of your career and life.
What You’ll Learn in This Episode:
- The Importance of Having a Financial Plan: Why everyone, regardless of career stage, needs a plan—and how to revisit and update it as your life evolves.
- Understanding the Role of a Fiduciary Advisor:
What it means to work with a fiduciary, and why it matters for your financial security. - Breaking Down Financial Planning by Life Stage:
Dr. Mike and Erik discuss four key periods:
Early Career (School to 5 Years Out):
- Building an emergency fund
- Managing and understanding debt
- The value of starting to save and invest early (time value of money)
- Basics of insurance and budgeting
Mid-Career (5–20 Years):
- Growing wealth and managing taxes
- Maximizing retirement plans (401k, HSA, backdoor Roth strategies)
- Asset protection, estate planning, and insurance updates
- The importance of accurate bookkeeping and proactive tax planning
Late Career (20 Years to Retirement):
- Increasing complexity: business ownership, real estate, and advanced tax mitigation
- Planning for college expenses and balancing support for children with retirement goals
- Regular estate plan checkups and preparing for the “walkaway” number
Retirement:
- Transitioning from accumulation to distribution
- Managing multiple income streams and ongoing tax mitigation
- Emotional and lifestyle considerations for a fulfilling retirement
- Insurance needs, self-insuring, and long-term care planning
Actionable Advice for Every Listener:
- The value of assembling a trusted advisory team
- Why intentional planning and flexibility are the true keys to building wealth
- How to ask the right questions and be proactive with your advisors
Resources & Links:
Special Offer:
Listeners of The DOC Podcast can receive a $500 discount on registration for Airway Palooza 2025 in Fort Lauderdale by using code DOCPALOOZA at checkout. https://airwayhealthsolutions.com/palooza
Thank You for Listening!
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