Love, your Money - Wealth, Money, and Financial Advisor for Women

Profit Boss® Radio listener stories are some of the most inspiring and, yet, pragmatic financial experiences I am privileged to cover on the show. Today’s Listener Series episode features Jenna Missanelli. She bravely shares her story about how financial infidelity in her marriage contributed to her eventual divorce and how her financial recovery has completely transformed the second half of her life. Her story is not dissimilar to others who face financial strife in their own relationships. No matter what you have been through or are going through, Jenna’s story is a reminder to us all that there is always hope to turn our circumstances around and reach financial success Tune in to this week’s installment of Profit Boss® Radio to hear her powerful story and the biggest financial lessons she learned from her journey. For more details, please visit the show notes on our website: https://www.hilaryhendershott.com/recovering-from-financial-infidelity/ Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

EP 118 | Profit Boss® Radio Most of our conversations on Profit Boss® Radio are about how to keep wealth for yourself. How to earn it, save it and how to grow it. In this episode, we’re going to talk about giving it away and how to get started with charitable giving. What You’ll Learn from This Episode How to get started with giving How to design a life that aligns with your principles and values The impact the new tax rules have on charitable giving How to find more joy and satisfaction in all your hard work with special guest CJ McClanahan Hear Naomi Morshead’s powerful story about how she overcame a congenital heart defect and climbed 61 mountains in three years. She shares a powerful message that everyone can reach their dreams and also pay it forward to help others. Invitation to upcoming Tax Webinar taking place on September 19th @ 11 am (you can learn more and sign up here: https://www.hilaryhendershott.com/taxwebinar) For more details, please visit the show notes on our website: https://www.hilaryhendershott.com/get-started-giving-to-charities/ Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

EP 117 | Profit Boss®Radio  Welcome to a brand new season of Profit Boss® Radio! I have missed you and look forward to a rejoining your podcast player with new episodes every Tuesday. What You'll Learn from This Episode Welcome to Season 3 of Profit Boss® and sneak preview of future show topics Review of Ignite Investing, the special program I offer women who are trying to grow their wealth and have between $25k and $499k to invest A brief stock market update Invitation to upcoming Tax Webinar taking place on September 19th @ 11 am (you can learn more and sign up here: https://www.hilaryhendershott.com/taxwebinar) Announcement about 7 STEPS TO WEALTH: a FREE audio guide to help you build wealth – Get Your Copy Today! Season 3 of Profit Boss® Radio is sure to be an exciting one. We’re leveling-up this season, which means my guests and I will be covering more sophisticated financial topics that you need to know about to navigate your financial world. For more details, please visit the complete show notes on our website: https://www.hilaryhendershott.com/what-to-look-forward-to-in-this-season-of-profit-boss/ Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Today’s show is all about a topic that is important to everyone: EARNING. If you are familiar with Episode 77, then you know Earning is one of the 7 Steps to Wealth covered there. We start off by discussing the wage gap for women and then get into a great conversation about finding success in the world of online business. Mariko Briley grew up living in the great outdoors of Alaska and became a pilot who flew tourists around Mt. McKinley. She and her husband now run a multi-million dollar business teaching entrepreneurs how to find success. Mariko and Dustin are passionate about inspiring emerging entrepreneurs to reach their goals. After making expensive mistakes in the birth and growth of their own business, Mariko is now choosing to control her quality of life and helping others do the same. She is currently working on a book with her husband about how to attract the right clients.    What you’ll learn in this episode:   From a recent Rice University study: 5 Myths about the Wage Gap: Women are not doing equal work Women leave the workplace to have and raise children Women choose less lucrative professions Women don’t ask for what they want Women don’t have as much education or experience as men   From my conversation with Mariko: How she started out flying planes in Alaska How marriage and a new baby prompted an end to her flying career How their company teaches online marketing through Facebook The benefits of working remotely (NOT strapped to a physical location) vs. a traditional brick-and-mortar business How they began by buying a business on online lead generation Why the business made a great living for them but left them unfulfilled Back to the drawing board: What else can we do with these skills we’ve acquired? The lightbulb moment: the idea to merge their skills with teaching others how to generate online leads, grow, and see success Starting out with a team of 20 employees The big mistake: making big money, but not seeing profit because of the huge overhead Making the changes needed to reduce the team and make their business highly profitable Using automation and software to do as much as possible The lessons learned from the mistake in generating a lot of money but not focusing on the profit side The business debt they incurred and how their focus has changed into a “lean and mean” philosophy The freeing knowledge that they have the resources to get where they want in business and live the life they want for their family How they bought their dream house this year and are merging the business there with a separate building on the property Converging money operating systems and “meeting in the middle:” How she grew up in a frugal household with no credit purchases and how her husband grew up in an entrepreneurial family, where debt was incurred to risk a higher payout later Resources: www.yoobly.comHendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Do you have student loans? This topic is a painful area to talk about, but one that is common for so many people. My guest today has great advice and nuggets of wisdom for you! He is passionate about helping to fix the problem of student loan debt for others. Don’t miss my conversation with Travis!   Travis Hornsby founded Student Loan Planner after helping his surgeon wife figure out how to manage her six-figure medical school debt. He quickly realized there was a huge need in this area and that he could provide valuable help for others. He was formerly a bond trader and is a chartered financial analyst, so he is a rock-solid and smart finance guy. He loves saving professionals money through creating customized student loan strategies for the top 2% of the most indebted Americans. Check out the resources below to see how to contact Travis and how he may be able to help you with your student loan debt.   What you’ll learn in this episode:   The huge problem of student loans, especially for professional women, who carry a major portion of the debt Travis’ message to high school and college students pursuing higher degrees: “Go to the cheapest place you can.” The “real carnage” of student debt is in grad school because of debt caps for undergraduate education How he sees dental school and law school grads who owe $300-600K (the highest he has seen is $1.1 million in debt!) The hidden opportunity costs of student loans The story of Travis’ wife: she started medical school at age 18 and then did a four-year Ob-gyn residency in NYC, where she was a free-spender. They met at church in Philly when she was there for a fellowship training and he was a bond trader. How Travis had the “money conversation” with his wife while they were dating Mistakes that his wife made that cost her about $70K The idea for Travis’ Student Loan Planner business and how he had dozens and dozens of clients right away (He has now had over 1000 clients!) Advice from Travis: “Think about the future and take out federal loans that can be eligible for debt forgiveness.” Why if you owe more than two times your income, then you need a good plan and loan forgiveness The two paths to loan forgiveness After college, the loan players become private lenders who want in on the investment How student debt is unique and unlike any other kind of debt On Travis’ website, find his Refi Quiz and other free educational content to help you find the tricks and loopholes Travis’ consultation will include different strategies and paths, depending on your career and family goals “If you’re unhappy and feel financially insecure, look at your mortgage and car payment. Try to reduce one or both of these.” How “yesterday’s promises” reduce today’s flexibility and freedom How consolidation can help to speed up the payment and get old loans qualifying for loan forgiveness programs and help you have only one loan payment (watch our for scams!) Refinancing is to take loans out of the government system or from a private lender and create a new loan with a private lender at a lower interest rate How people in the same profession might have different needs as far as refinancing or consolidation, based on their income and needs The average mistake costs $60K--”There’s a lot that you don’t know that you don’t know.” How lHendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

We all want our kids to be smart about money decisions, right, but how do we do this? Making decisions around money is much more than learning how to spend, but how do we teach our children in ways that they will understand, before they make those disastrous money mistakes? It’s a a topic that many parents have questions about and today’s show is full of answers and smart money advice for parents.   John Lanza is Chief Mammal of The Money Mammals and the author of The Art of Allowance, three children’s picture books, and the creator of an award-winning DVD, The Money Mammals. He’s the father of two daughters and a youth financial literacy expert and he’s here to help us learn the basics of raising financially empowered kids.   What you’ll learn from the episode:   How John was influenced by his wife to become a Money Mammal, because they wanted their kids to be money smart Applying the concept of “emergent financial literacy” to spending, sharing, and saving The basic allowance rule: $1 per week, per year of age (Kids must have money to practice with!) Finding the balance between advising kids on purchases and giving them autonomy The BIG question: Should allowance be tied to chores? (Find out why John says NO!) The key in teaching kids about money is what lesson you want to teach them The concept of “breakthrough allowance,” when your child is older and becomes responsible for certain financial expenses The goal for kids is money empowerment, where kids control their money and money doesn’t control them! How to know WHEN to teach WHAT in progression Saving goals should be specific, measurable, attainable, relevant, and time-based How to teach awareness of investing and saving for college How to make adjustments to NOT pass on our money ignorance and money difficulties to our kids How a family of significant means can guard against raising spoiled kids How to teach visualization for kids to reach their financial goals The key to it all: Have an open dialogue with kids about money   Resources:   www.themoneymammals.com   www.theartofallowance.com--Find out how to win one of three signed copies of John’s book!   The Opposite of Spoiled by Ron LieberHendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Is there really some secret to obtaining wealth? Everyone wants to be a millionaire, but today's guest, Steve Siebold, actually spoke with over 1,200 self-made millionaires to find out what their secrets to success are. He wrote a book about his findings, Secrets Self-Made Millionaires Teach Their Kids. You may be surprised to learn that many of the secrets are actually counterintuitive. Once you know the "rules" of being a millionaire, you can begin taking steps to join their ranks! Join Hilary for her insightful discussion with Steve and learn what you need to know to teach your kids to be millionaires too! Show Highlights: The rich rule the world The universe wants you to be rich Most self-made millionaires are not any smarter than you The government is not your friend - you must understand taxation Pay attention to Wall Street and the financial markets Understand results are gradual, not instantaneous Play sports of the rich - golf and tennis Use a vision board to map your money dreams Resources: www.stevesiebold.net  Secrets Self-Made Millionaires Teach Their Kids.    Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

This week I'm speaking with Kelly, whose lax money habits from her early 20s landed her in a stressful 25-year cycle of debt and uncertainty. Now, having sought help to finally improve her understanding of money and establish healthy spending and saving, she's debt-free.  This episode is a great one for anybody wrestling with feelings of failure or inadequacy around money, but it's also educational for you parents out there who are wondering how to ensure that your children don't grow up with a sense of entitlement around finances.  In the interview, Kelly takes us through her early money memories and the reasons she hated focusing on money. She talks about what those 25 years of constant debt were like, and how she finally reached out to a financial coach who helped her reform her treatment of money.   Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Denise Duffield-Thomas is a money mindset mentor for the new generation of female entrepreneurs. Denise is committed to changing the way women think about wealth and money. Instead of losing belief or being intimidated, she inspires women to build their own definition of wealth. One thing you’ll have to come to grips with is that everyone has money blocks. We tell ourselves stories about why we shouldn’t worry about money or pass the responsibility off to someone else. Maybe subpar math skills or preconceived ideas about gender roles are holding you back. Regardless, the time to break through your personal blocks is RIGHT NOW! Denise obliterates money blocks, such as, “I can’t have love AND money,” or “I can’t have a baby AND money.” Often, stories and memories from our past serve as anchors and are the root of most problems. She is well-equipped to help others with this because she has built a valuable business and overcome these blocks herself. Listen and learn!   You can listen to the full episode at hilaryhendershott.com/111Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

At some point in your career, you are going to hear the word, “No.” Rejection is unpleasant at best and can be crushing at its worst. What can we do to build up resilience to rejection, and allow ourselves to continue putting ourselves out there for the sake of our business? My guest today, Alex Grodnik, is going to share how he’s been doing it for the past year as an entrepreneur. Alex is a credible, smart, and academically successful guy. I am excited to share his story with you.    Alex didn’t start out wanting to start and grow his own business. From a very young age, Alex aspired to be an Investment Banker. He started out his career as an Analyst at JP Morgan but quickly found that the big Investment Banking job he always wanted was not for him. Alex then made the brave decision to pivot and look into developing his own business, even though the thought of failure nearly stopped him. Alex’ story will teach us about choosing a different path, and many of Alex’s life choices fall in line with what I want for us and our financial lives.    If anyone is scared to leave the comfortable job to venture out and create something new, you need to hear this interview. Alex has wisdom that will empower and encourage you to make that choice and change your life.    What You Will Learn in This Episode:  •    Alex tells us the story of why he started out in investment banking, and what it was like to work as an analyst.  •    What investment bankers actually do.  •    How Alex made the shift into entrepreneurship through a podcast business.  •    Alex shares what it is like to have a startup company.  •    What the startup community is all about.  •    How to take advantage of “Rejection Therapy” and hearing “No” each day. •    You need to not be afraid to ask for what you want.  •    Be creative in order to turn a “No” into a “Yes.”  Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.