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

Not only is today’s episode centered on one of the juiciest of the 7 Steps to Wealth… it’s also one of my favorites because the topic is downright FUN.Welcome to Step 6: Invest.This is where the money game gets exciting, and it really starts to feel like the rules are working in your favor. Each of the previous steps has been pretty responsibility heavy, requiring mental, emotional, and physical labor from you. Step 6 is really about–in an educated way–releasing the reins a little bit and letting your money do the work FOR you. Fun fact: Investing is the only way to earn true passive income, but so many people don’t take advantage of the wealth building vehicle that is the stock market because they don’t understand the rules of the playground–and I want to see that change. 👇In this episode, we’re going to demystify the world of investing and talk about: The difference between linear and compound returns, Why investing is the solution to the longevity problem, How to determine your investing lifetime,How to tap into the financial growth that’s available in the stock market.What it means to be a prudent investor, and The keys to building a secure portfolio that will help you achieve your financial goals.Investing allows you to take advantage of the magic of compound returns so you can earn interest instead of paying it, which is the only way to outpace inflation and ensure your money outlives you. And the simple truth is this: If you want to build meaningful wealth and achieve financial freedom, you must invest. There is no way around it! So what are you waiting for, Money Lover? It’s time to turn your money into MORE: Let’s invest!Here’s what you’ll learn in this week’s episode of Love, your Money:3:51 A note on releasing the reins: How this step of the 7 Steps framework is different than the others6:55 The difference between linear and compound returns, and investing in a way that helps you achieve financial freedom10:28The longevity problem: Living longer is great… but it’s also a financial problem13:30 The only true “passive income” – and determining your investing lifetime14:56 Geopolitical events that the stock market has survived, and how much your money would have grown if you were invested through those times18:30 How the gender wage gap and caregiving responsibilities influence retirement savings, and why it’s especially important for women to invest19:50 What I mean when I talk about prudent investing, and why “beating the market” isn’t a strategy that I recommend–or the data supports23:03 The three components of a prudent investing strategy 30:51 The types of financial advisors you can work with, how they’re paid, and why the distinctions matter for your wealth building37:11 The real, data-based performance of mutual fund managers whose investment strategy is based on picking stocks and timing trades42:10 Action steps you can take TODAY to start–or take the next step–on your investing journeyShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/prudent-investingFollow Hilar 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.

We’re officially at (almost) everyone’s favorite step: Earn! This is what most people think about when they imagine building wealth. After all, more money seems like the obvious solution to financial problems, right? Increasing the dollars that come into (and stay in) your accounts is definitely an important piece of the wealth building puzzle, but it will only solve your financial problems IF the other Steps to Wealth are looked after.And.Earning money is exciting! It creates possibilities, and I promise you will find possibilities everywhere when you start looking for them.In this episode, I talk about what gets in the way of people making more money, give ideas to help you earn more as an employee or a business owner, and share stories about people who have leaned into the Earn step to increase their wealth–and change their lives for the better. ✨ The purpose of this step is really to start thinking about earning as the intersection between your thoughts and your choices, so you can understand the changes you need to make if you want a different result. My goal is to leave you inspired to think outside the current box you’re building wealth in–because I KNOW you can find new, creative ways to increase your earnings and achieve financial freedom… on your terms.Here’s what you’ll learn in this week’s episode of Love, your Money:04:39 Why many high earners don’t retain (or grow) their wealth, and why increasing your earnings requires intentional choices 08:15 How your Money Operating System® impacts your earning potential, and common misconceptions about becoming rich 11:11 How to build wealth as an employee even if getting a raise isn’t in the cards, and finding income outside of your paycheck14:55 Ideas to increase your earnings as a business owner–beyond raising your prices 16:45 Stories of people successfully increasing their earnings while working in a non-profit organization, as a real estate agent with “lumpy” income, and a public works employee23:40 The three principles our client Katie embodied to increase her earnings by 300% (yes, really!): intentionality, curiosity, and being okay with getting uncomfortable, especially in negotiations30:25 How to overcome negative thoughts that limit your earning potential, and why the people you surround yourself with matter for your money31:15 Where the rubber meets the road: Opening the door to your unique possibilities and stepping into your power Show NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/creating-possibilities-more-moneyFollow Hilary on:TwitterLinkedIn 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.

Welcome to one of the most elusive steps of the 7 Steps to Wealth framework: Ask. This step is life changing, because when you embody the Ask step, it means you embody the expectation that you will reach financial freedom.That said, this step is also especially difficult for women. I’m going to explain why that is–and what you can do to overcome that obstacle–because mastering the practice of asking is essential if you want to build meaningful wealth. In just 28 minutes, we’re going to explore the importance of identifying what you really want in your life, dig into what gets in the way of asking for what you want–and, you’ll be challenged to ask for more, with very specific examples and action steps to help you get started.I’ll share stories about people who absolutely changed their lives by asking, like a client who doubled her salary, a friend who got a full ride to medical school, and some women who wanted to pay for Taylor Swift tickets and ended up landing completely new jobs. (They’re my co-VPs of marketing now! 👯)But this isn’t just about getting what you want. The Ask step is really taking on the view of, the desire for, and the commitment to more. It’s adopting the mindset and behaviors that make asking for things come naturally to you–because the more you ask, the more you will receive… and that’s abundance, baby!So, what can you ask for that would help you generate more wealth, more income, more investments, more free time, more happiness, more financial comfort, and help you build the life of your dreams?Because, Money Lover, this is YOUR life. It's your money, your plan, and your future that's on the line–and I promise you no one else cares more about your money than you do. The world is full of asks. Join the party! 🎉Here’s what you’ll learn in this week’s episode of Love, your Money:03:50 What it means to embody the Ask step of the framework06:21 The type of asks you can make, plus the biggest asks I’ve made–and how they changed my life09:56 How so many people limit their abundance, how we’re rewarded for self-sacrifice, and why asking is harder for women 12:11 The importance of giving from a place of having enough, plus, what happens when you’re under resourced–and give anyway 14:22 Getting comfortable with hearing “no”, playing The Game of Yes (or The Gift of 100 No’s), and how our feelings get in the way of asking for what we need18:20 The shortcomings of a “charge what you’re worth” mentality, and the power of shifting to “ask for what you want” 20:16 Action steps you can take in support of embodying “Ask,” including examples of things you can ask for in your life–plus some real life winsShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/play-the-game-of-yesFollow Hilary on:TwitterLinkedIn 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.

I often say there are two worlds of money: the one that lives in your bank account, and the one that lives in your head. And the only way to make that second world real is to talk about money, which many people are hesitant to do. But I have been behind the scenes of so many peoples’ bank and investment accounts, and deep in conversation about their money stories. Over the years, I have witnessed firsthand the power of words when it comes to creating their reality–and financial future. I’ve watched a client shift from saying “money is easy come, easy go” to “money is easy come, easy stay, easy grow,” and before long her account balances synced up with that mantra. I’ve also had clients report that they stopped fighting with their spouse about money once they started talking openly about it–and they were able to accomplish so much more when they were on the same page.      Talking about money might seem like a tiny, negligible part of your wealth building experience–but it’s not! It’s transformative, and that’s why the third step of my 7 Steps to Wealth framework is Speak. In this episode, you’re going to hear the nitty gritty of how my upbringing and money story influenced my financial outcomes, how I rewrote that story by changing the way I spoke about money, and you’ll walk away with new, empowered ways of thinking and speaking that you can use to replace old money stories that don’t serve you.You really can lead your experience and results with money with your speaking, and changing the words you use will change your life. Listen to this episode and you’ll understand why!Here’s what you’ll learn in this week’s episode of Love, your Money:4:13 Where your money beliefs come from, how they show up in your financial life, and why it’s so important to talk about money 6:00 How my upbringing shaped my money beliefs and behaviors, and how I created a different financial reality by changing the way I speak  10:57 How my money conversations changed when I met my husband, and why talking about money is so important within romantic relationships if you want to be in full financial partnership12:52 Stories of people who changed the way they spoke about money–and their financial outcomes–and how the way you speak can keep other people from sabotaging your wealth 15:38 How talking about money shows up in the way we raise our daughter–and how we hope that impacts her experiences in life19:02 The most common ways I see people sabotage their wealth with their words, and why I don’t take private flights to Paris (even if I can afford it!)21:35 The tension between virtue, wealth, and financial fulfillment23:48 Empowered ways to think and speak about money that you can use to replace old money beliefs and outcomes28:45 Actions you can take to support the Speak step–and prompts to start these conversations with the people in your lifeShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/money-matters-7-steps-to-wealth/Follow Hilary on:TwitterLinkedIn 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.

If you're going to be financially free, you need a plan for your wealth that doesn't require you to tick and tie and count and measure and categorize every single day. You need a plan for savings. You need a plan for spending. You need a plan that will ride the ups and downs without tanking your goals. And you need that plan to be as elegant and easy to execute as possible.Today we’re getting into step two of our series on The 7 Steps to Wealth: Plan. This episode is going to walk you through exactly what you need to do to create a financial plan that will help you accomplish your goals–without sacrificing your comfort, sanity, or enjoyment along the way. I want you to live a life you like, and even a life you love, but we have to make the numbers work. So I’m going to share the exact system that helped me dig myself out of multiple six-figures of debt and achieve financial freedom for our family. This cashflow management plan is so effective that I still use it to run a multi-seven figure business, and help my clients manage their wealth so they can accomplish their financial goals in a values-aligned way. The best part? You can automate all of it. 🪄You just have to start. I’ll tell you how.Here’s what you’ll learn in this week’s episode of Love, your Money:04:09 Why budgets suck, and what I do instead of budgeting 09:33 The biggest struggle people have with the Plan step11:26 The difference between what’s necessary spending, what’s not, and how that distinction can make or break your financial plans 13:40 The linchpin for successful financial planning (Spoiler: it’s automation)16:00 Figuring out how much you need to live a life you love–a.k.a. Your financial independence number–and how to reverse engineer your net worth 19:34 My tried and true method for cashflow planning and automation, with a step-by-step guide to help you implement if in your life Show NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/linchpin-of-financial-successFollow Hilary on:TwitterLinkedIn 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.

Have you decided to be rich?That might seem like a very straightforward question, and most people would probably say, “Of course I’ve decided to be rich. I’m listening to this podcast, after all!”But I think most people haven’t truly decided to be rich yet, and I want to dig into what I mean by deciding to be rich: Are you making decisions every day that help you build and preserve wealth? Most people who have decided to be rich (in theory) are (in practice) actively deciding to spend money in the moment… at the cost of saving it for the future. They’re more caught up in maintaining the appearance of being wealthy than achieving financial freedom–an expensive endeavor in the short term, and an incredibly costly mistake in the long term.Decide is the first of The 7 Steps to Wealth, a framework that I use with my clients and in my own life, because to be truly wealthy, you have to do what most people won't: You have to decide, every day, to be rich. I’ve talked about The 7 Steps to Wealth many times before, but this episode is the first time I’m doing a focused deep dive into what it really means to decide to be rich–in theory AND in practice–so that you can put these steps into action in your life and achieve true financial freedom. Are you ready for it?Here’s what you’ll learn in this week’s episode of Love, your Money:03:50 The biggest misconception about fancy cars, showy houses, and how wealthy people spend their money08:58 Daily decisions wealthy people make (that you can make too!) that build  wealth–and what it means to handle your money first13:39 Why you can decide to be rich without knowing how you’ll get there (yet)16:37 The biggest struggles people have when deciding to be rich18:36 Action steps you can take to make Decide a part of your daily lifeShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/building-and-preserving-wealthFollow Hilary on:TwitterLinkedIn 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.

It’s been about five years since I last spoke with today’s podcast guest, George Kinder, but it feels like just yesterday we talked about how good financial plans enable you to achieve life goals–and what freedom means. Since then, he’s managed to write another incredible book called “The Three Domains of Freedom,” so I was incredibly excited to bring him back onto the podcast to talk about what it means to experience freedom, the power of mindfulness to change the world, and how to identify whether or not you’re living your purpose.It’s hard to believe that George was once a math major at Harvard because his life’s work is rooted in emotional intelligence now, but as he points out, that's one of the beautiful things about life: we're constantly learning–hopefully to be better people–and that’s how civilization grows! George’s energy is absolutely infectious, and this was such an expansive conversation about true freedom, mastery of the present moment, and unlocking the possibilities that are at your fingertips. I hope you walk away as inspired as I did!Here’s what you’ll learn in this week’s episode of Love, your Money:02:35 How George defines freedom, how it relates to money, and the three domains of freedom 05:05 The coupling of financial resources with experiencing freedom, and why life planning influences how you use those resources 07:56 The power of mindfulness and the freedom to live in the moment11:20 The opportunity cost of time and prioritizing mindfulness when you’re busy14:35 Mastering the present moment when it feels like the sky is falling 16:40 How to identify if your life isn’t aligning with your true experience of freedom 19:22 The hurdles George has witnessed people overcome as they learn to practice mindfulness and master the moment in pursuit of freedom 20:45 How George’s thinking–and the world– has evolved since our last conversation, and the importance of truth 24:04 How the Industrial Revolution, corporate structure, and the democratization of the stock markets influenced the development of civilization, and George’s proposed solution to bring wisdom and compassion back31:06 The real message George is communicating, and how it can help us bridge the chasm between where we are and where we want to be–as individuals and as a civilization 34:16 If George’s money were writing him a love note, what would it be thanking him for? Show NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/george-kinderFollow Hilary on:TwitterLinkedIn 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.

Hey Money Lover, today we’re doing something a little bit different, inspired by a post I saw on Instagram. Someone had screenshotted a crowdsourced question from Reddit, then brought it over to Instagram to offer commentary on the situation.I was reading this post and attempting to collect my jaw off the floor the whole time, because it was a series of those “Am I the A-hole” or “Should I leave him?” posts where someone is describing a financial issue they’re having with their partner–all husbands, in this case. The only thing going through my head as I read horror after horror was, “Yes, girl, YOU CAN LEAVE HIM.” You don’t have to sacrifice your security or well-being for someone else’s financial mistakes!I know it’s not that simple, but it pains me to see women held back in their lives because of unhealthy financial partnerships and limiting beliefs; that’s actually a big part of what fuels the work we do at Hendershott Wealth Management, where our mission is to see women and their partners healthy, wealthy, and thriving.So, today, I wanted to read some of these posts, react to them, and break down what we can learn about the expectations, assumptions, and Money Operating System® issues baked into some of these financial woes. Then I’ll talk about where things went wrong, and whether or not I think these couples will be able to make it right. 👀Full disclosure: You’re gonna hear my big sis/mama bear/money maven/CFP® professional-self come out, with a serious side order of sass for these bros and their dumb choices. And while my expertise is in financial matters, I couldn’t help but comment on what else they might be bringing to the table.And hey, if you know someone who’s living these stories–or maybe see yourself in some of them–I hope it’ll give you a little bit of a loving kick in the butt to act in YOUR best interest, even if you’ve been conditioned not to. Because if you smell BS… take out the trash. 💩Here’s what you’ll learn in this week’s episode of Love, your Money:00:00 Introduction to this episode–and what you’re about to hear 04:05 1️⃣“My husband committed financial infidelity, and I’m not sure what to do.” 07:40 Calling out financial red flags in potential partners before you get married 08:45 How values influence relationship expectations and the cost of deception 13:32 2️⃣“My husband lost $60,000 behind my back” 14:12 The consequences of gambling with real estate as an investment strategy16:27 How Money Operating System® issues can damage a financial partnership17:47 Common fears that keep women stuck in toxic financial situations19:50 3️⃣“AITA for wanting a divorce from my husband who lost $200k in bitcoin”21:50 When “managing the family money” is actually theft 26:10 The most common–and expensive–mistake that costs women everythingShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/financial-problems-of-strangersFollow Hilary on:TwitterLinkedIn 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.

Emotions and money are so intertwined because our feelings are a part of everything we think and do. But a lot of people ignore or avoid their emotions because they don’t know how to identify or regulate them–and that’s a costly mistake.While that might feel easier in the moment, you end up missing out on a lot of important information–and those blind spots can cause you to make choices that aren’t aligned with your values or long-term goals. According to today’s guest, Jess Robson, the only way to course correct is by learning how to connect with–and regulate–your feelings.Jess is a copywriter turned EQ coach (more on what that means in the episode) who helps people grow their emotional awareness and intelligence so they can work with their feelings, instead of against them. In this episode, we talk about how you can use the information your emotions contain to make better, values-aligned choices that keep you on track for your long-term goals–rather than derailing you. Jess explains where our feelings come from, how our emotions influence the stories we tell ourselves, and how those stories impact the choices we make. We also dig into the relationship between our emotions and money stories–and how we can write a new story that creates a better outcome. Listen to hear the way Jess describes the way our feelings keep us stuck, the power of leaning into tension and increasing your capacity for trying something new, and how you can use feelings like fear to help you accomplish big things… instead of keeping you small. From creating the space for big feelings to the impact of the Cycle of Market Emotions on our financial decisions, we covered a lot of ground in a short amount of time. (We’re both swift talkers! 😆)I hope you walk away from this conversation feeling empowered, inspired, and with even just a little more courage, so you can face your feelings instead of fighting them–and build a life that allows you to thrive.Here’s what you’ll learn in this week’s episode of Love, your Money:02:15 Where emotions come from, why Jess has a love/hate relationship with feelings, and how our emotions can derail us 05:23 Defining (and distinguishing between) EQ, emotional awareness, self-awareness, and emotional attunement 07:47 How The Feelings Wheel helps us identify and connect with our emotions–and why talking about money is so charged for women11:16 Money miswiring, how feelings impact our decision making, and our willingness to try new things without proof it will work14:48 The power of “One Opposite Action,” how connecting with your feelings can help you make a different choice, and increasing our capacity for tension18:23 Learning how to regulate our emotions with RAIN (Recognize, Allow, Investigate, and Nurture), plus emotional regulation skills you can practice in the moment25:41 How the Cycle of Market Emotions influences our financial decisions, why we shouldn’t always trust our knee jerk reactions, and holding space for big feelings34:09 Navigating the stress of talking about money with your romantic partner, how fear sabotages our efforts, and why financial conversations require courage39:02 Why fear is so pervasive, how our brain’s protective mechanisms keep us safe–and small–and how we can rewire those patterns to step into our powerShow N 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.

“The sandwich generation” is used to describe people who find themselves taking care of their kids and aging parents… while trying to take care of themselves, too. (That part gets left out sometimes.)Today’s guest, Max Mayblum, prefers to call this group the caregiving generation, because they care for people on all sides of the age spectrum–and that’s who his business is created to support.  Max has been in digital healthcare for most of his career. When his aunt was diagnosed with terminal cancer and his parents put their lives on hold to take care of her, Max wanted to help as much as possible, so he put his skills to work looking for resources online. What he found was a very broken system. Max witnessed the emotional and financial toll that caregiving took on his parents, and he knew they wanted to spend every possible moment with his aunt–not navigating logistics and applications for funding. The whole process was a nightmare, and Max found himself having conversations with his parents about other families who would be facing similar issues, without a digital health expert to help them figure it out. His desire to scale his experience from his household to help caregivers throughout the rest of the country led him to found Givers. Caring for a loved one can be an expensive and time consuming ordeal, and without the right support, covering those costs can derail the plan for a child to go to college, delay retirement for years, or keep people from getting the care they need.Max created Givers to connect caregivers with existing funding and support in their state, without getting lost in the process. His company mapped the programs available in all fifty states, and built an algorithm that generates a step-by-step guide to help users access the programs they need so they can be paid for caregiving. A major problem isn’t the availability of resources, it’s the awareness of and access to them. When it comes to funding, if you don’t use it, they lose it–and as Max pointed out, you won’t get what you don’t ask for. (I agree!)Hit play to listen to the full conversation now or download the episode to save for later, and check out the show notes at hendershottwealth.com/254.Here’s what you’ll learn in this week’s episode of Love, your Money®:05:23 Max’s start in telehealth and how a family diagnosis launched him into wanting to fix a broken system around caregiving 07:28 Max’s firsthand experience with the Givers motto – that “the burden of caring isn’t the care itself; it’s everything else that surrounds it.” 09:11 How Max has been able to scale the support he provided his parents as they were caregiving for his aunt 10:31 The programs available to caregivers of all income levels across all 50 states–and the real barrier to accessing them 15:30 The specific diagnoses that Max finds are most likely to have access to public funds 19:05 The surprising or creative ways Max has seen people navigate the financial burdens of caregiving crises 20:48 How Givers is accessed: What you can do on the website versus the plethora of benefits from the app22:45 Spending down as a financial planning strategy, when to contact an elder law attorney, and using a Medicaid plan to access caregiver benefits and resources as 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.