Seven years ago, I recorded a podcast episode inspired by the worst financial advice I was hearing on other podcasts at the time. A lot of things have changed since 2017, and unfortunately, a lot of things have remained the same.I decided to revisit that awful advice and give it a 2024 refresh so you can see which bad advice is still being recycled, separate what’s true from what’s trendy, and make informed, educated choices that are right for you.My goal is to help you learn how to become a sophisticated, prudent investor. That includes: Identifying the “armchair advisors” on the internet that are sabotaging your wealth–and the lack-of-evidence-based opinions they’re doling out.So in this episode of the Love, your Money podcast, we’re counting down the seven worst pieces of financial advice on the internet–because it’s not just on podcasts, it’s everywhere. From “Bucket Investing Strategy Brad” to “Just Buy Gold Chad”, we’re going to poke holes in some seriously unprofessional opinions–and do the math on how much their bad advice is actually costing you.Because to be perfectly frank, it’s easier to talk everyday investors into giving up their money by making big claims and taking advantage of knowledge gaps. I want to spare you those costs and teach you how to spot the fool’s gold–so you can run from it.Buckle up, Buttercup–and enjoy the ride!!  P.S. For the sake of making it easier to wrap your head around the examples as you listen to the podcast, we rounded our numbers to the nearest thousand, but I promise we double and triple checked our math. To see the calculations down to the penny, head to this episode’s show notes at hendershottwealth.com/248.  You can find that (very solid) math, below. 🤓Here’s what you’ll learn in this week’s episode of Love, your Money:Meet Brad + Chad, our Armchair Advisors for today’s episodeBucket Investing Strategy Brad and the real cost of his “safe” vs. “growth” buckets and “just go-for-it” mentalityForget the 401(k) Chad and his misunderstanding of taxes, brokerage accounts, and retirement savingsKnow-It-All Brad and his “professional” opinions (i.e. why you shouldn’t take money advice from smart people who aren’t experts in finance or investing)Commission-earning Chad and his get-rich-on-life-insurance-policies schemeBudget By Envelope Brad and his restrictive cash flow management systemJust Buy Gold Chad and his doomsday predictionsBeat the Market Brad and his siren calls for active investingShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/worst-financial-adviceFollow Hilary on:TwitterLinkedInInstagramFacebookYouTubeSubscribe to Love, your MoneyApple Podcasts 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.

Why does wealth matter? Because it is your key to freedom–and that’s something we care about a lot at Hendershott Wealth Management. We’re committed to helping people achieve financial freedom because with it comes the ability to do more of what they love in the world. And if we all spent more time doing what we love instead of what we feel obligated to… well, that’s the world we want to live in. Being rich is powerful, but most people struggle to embrace that because society has taught us to resent the rich. Especially as women–I mean, women aren’t supposed to want or be “too much”, right? WRONG.False beliefs get in the way of wealth building all the time, and all they do is cause you to sabotage your wealth–and put your financial security at risk in the process.So in today’s episode of Love, your Money, I’ll help you identify and overcome common mental obstacles so you can change your relationship with money… and your life. It’s time to stop sabotaging your wealth, and start embracing the journey to becoming rich. Remember: This is your life. This is your journey. This is your choice. Today, I want to help you choose to be rich. Here’s what you’ll learn in this week’s episode of Love, your Money:What financial freedom is, and the first step you need to take to achieve itWhy “rich” is a triggering word for people, and why you have to stop believing it’s inherently “bad” to be rich How societal narratives influence your beliefs about wealth, and if having money makes people selfishWhy you need to get out of your own way when it comes to money, why it’s easier to demonize rich people than build wealth, and who really ends up hurtThe importance of being in a loving relationship with your money My own transformation story, or how I set myself on a destructive financial path and changed my experience–while remaining true to my valuesWhat access to wealth makes possible in your life: who are you, and how do you want to show up for the people you love? Why building wealth is a logical goal for generous people, and a message for those at odds with their desire for more financial freedom and their relationship with moneyA promise to make to yourself, today, that your future self will thank you forShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/stop-sabotaging-your-wealthFollow Hilary on:TwitterLinkedInInstagramFacebookYouTubeSubscribe to Love, your MoneyApple PodcastsOvercastHendershott 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.

“Can you just make the decision for me?” As an adult, it seems like life is a never-ending stream of choices. From little decisions like what’s for dinner to big decisions about your career or financial investments, the choices keep coming–and there rarely seems to be a “right” answer.I’m in regular conversation with clients about their financial choices and planning for life transitions. (Do I sell my company shares now or later? How much should I save for retirement? Can I afford to take this vacation or send my kid to that college?) So when I had the chance to interview a decision engineer on Love, your Money, I had to say yes. I couldn’t wait to get Michelle Florendo’s insights, because as a Stanford-trained decision engineer, she’s made it her life’s work to teach people how to make decisions with less stress and more clarity.In this conversation, we talk through how to feel confident that you’ve done your decisions due diligence, while also going beyond the process-driven elements of engineering to talk about how our feelings and emotions influence our decisions… especially the ones that impact our finances. I learned some things that are going to help me become a better financial advisor–and that’s something I don’t say lightly! I often find myself talking clients through options that might feel counterintuitive, and the process Michelle shared is going to be a huge support in helping them navigate uncertainty.  Michelle has frameworks that apply to every decision–personal or professional, big or small–and we talked through some money-related examples that really bring the concepts to life, from investing and IPOs to daily spending habits. If you’ve ever struggled with making a decision, planning for the unknown, or articulating what you value most… this is a conversation you do not want to miss. So hit download, listen in, and make sure you check out the expanded show notes at hendershottwealth.com/246 for even more decision-making education from Michelle.Here’s what you’ll learn in this week’s episode of Love, your Money:Decision engineering, finance, and emotional resistance–i.e. how do you account for irrationality in decision engineering?The core components of a decision–objectives, options, and information, plus a case study in how they applyReconciling what is “unknowable”, what is unchanging, and what is impactable Using a Relief/Regret matrix (“happy face/sad face”) to inform decisions, moving through uncertainty and the clarity from knowing “enough”How to improve the options component of decision making, and the power of self-created optionsHow risk appetite influences financial decision making, like selling concentrated positions of company stock for security versus holding out for more growthWhat “resulting bias” is, why so many of us default to resulting, and what you can do instead How an outdated Money Operating System® can sabotage your money choices, and untangling “fast thinking” emotional processes to gain confidence in your decision makingShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/pod 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.

What does it mean to “age in place,” and why does it matter? Those questions motivated my conversation with Carol Chiang, today’s guest on the Love, your Money podcast.  We’ve been taught to fear aging, and most people prefer to focus on maintaining their youth than thinking realistically about care and comfort later in life. But aging is inevitable, so why not focus on setting your future self up for success instead of chasing the idea of youth?According to AARP, 9 out of 10 retirees say they’d prefer to age in their home, and it’s safe to assume that most people want to age with their dignity, grace, choice, and freedom intact. But. Only 15% of people have done any preparation to support aging in their current home–and that’s why I brought Carol onto the show. She is the founder of Evolving Homes, which provides expert consultations to homeowners who want to age in place.From maintenance of health and functionality to structural adaptations for your physical living space, there are so many ways you can minimize the chance of injury and build multi-generational mobility support into your existing space.Carol’s goal is to help people understand those potential aging costs, so they can make a purposeful decision about saving for their future self. It is incredibly expensive to delay care–and if you don’t know what your options are, how will you know how much to save? Any proactive planning you start *now* will pay off in both dollars saved and quality of life preserved.So hit download on this episode, listen in, and check out the show notes at www.hendershottwealth.com/245 to get all the goods about setting yourself up to successfully age in place. 👇(Oh–and if you like this interview, make sure you subscribe to the Love, your Money podcast, because you won’t want to miss what’s coming up next week. I got to chat with a Decision Engineer, and I think our conversation will pair well with this one!)Here’s what you’ll learn in this week’s episode of Love, your Money:What it means to “age in place,” how you can be proactive about taking care of your future self, and the compounding returns of beginning early How to build an accessible and age-inclusive space without sacrificing elegance and smart designWhy proactive planning is a long-term cost-savings opportunity, especially for future caregiving costs or structural adaptationsHow home modifications, lifestyle mentoring, physical fitness, remote monitoring, and “age tech” impact successfully aging in place The difference between an Occupational Therapist, Physical Therapist, and other healthcare professionals involved in caregivingThe tipping point where Carol will recommend a client move out and find a new space vs aging in placeOur signature LYM question: If Carol’s money were writing her a love note, what would it thank her for?Show NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/carol-chiangFollow Hilary on:TwitterLinkedInInstagram 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.

There are few things in life that we will all inevitably experience, and losing a loved one is, unfortunately, one of them.When that time comes, you should have just one thing to do: Grieve.But if you’re an executor with an estate to settle, there’s a good chance you won’t have the chance to deal with your grief until you’ve crossed the t’s and dotted the i’s, which can turn into a year-long, part-time job. (That is very much unpaid.)That’s why I brought Rachel Donnelly, founder of AfterLight Consulting onto the Love, your Money Podcast to talk about navigating the unavoidable logistics of what she calls “the business of death.”Rachel was thrust into settling the estates of two family members while raising two young children and working full time, which helped her quickly identify both the toll it can take on individuals as well as the gaping hole in the market for services that help ease the burden on grieving loved ones.Whether you’re the executor of a friend or family member’s will or planning your own estate, tune into today’s episode to learn what you need to consider so you can rest assured that your loved ones are taken care of.   Here’s what you’ll learn in this week’s episode of Love, your Money:The personal stories that led Rachel to a career in after loss consultingRachel’s “MDA”, and the growth of the after loss consulting industryWhat an after loss consultant does and doesn’t do  The Wild West situation that is digital assets, and recommendations for what to do in the digital realm before and after death The one thing all after loss consultants will scream from the highest of mountainsThe best time to initiate an engagement with an after loss consultantApproximate duration and costs when hiring an after loss consultantWhere Rachel recommends starting in your own estate planning (today)The top two things you should do right now if you've got an 18-year old leaving the nest Show NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/rachel-donnellyFollow Hilary on:TwitterLinkedInInstagramFacebookYouTubeSubscribe to Love, your MoneyApple PodcastsOvercastSpotifyGoogle Podcasts 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 ever had a conversation with your money?Bear with me here, because I truly want you to answer that–and so does this week’s guest on the Love, your Money podcast, Ellen Rogin.Ellen is a financial intuitive who helps people strengthen their relationship with money, starting with one simple (but not always easy) task: Speaking to it… with respect.If you’ve ever had or voiced the thought, “I’m just not good with money,” or “I don’t have a head for money,” then you’re in the right place. In this episode, Ellen explains the ways we subconsciously shut down our relationship with money, shares how you can speak to money in a way that invites more in, and walks us through her signature framework, Prosperity on Purpose, so we can learn how to become more aware, clear, caring, and generous with our money.Money Lover, if there’s ever a time I’ve wanted to turn the mic on you to ask my signature question of, “If your money were writing you a love letter, what would it say?”, it’s now. Because after you listen to this episode, I bet the answers will be juicier than ever.So grab your headphones, hit play, and get ready to reframe how you talk about–and with–your money. Here’s what you’ll learn in this week’s episode of Love, your Money:How Ellen went from financial auditor to financial advisor, and her “Genesis story” as a financial intuitive What happens in a Messages from Money session What it’s like to talk to money, and the reciprocal relationship that’s required to realize your wealth goals Examples of the ways Ellen recommends people talk about money that invite more money to come in  How Ellen talks with someone who really wants to improve her relationship with money, investing, and wealth building, but is weighed down by fear and anxietyEllen’s Prosperity on Purpose framework: Aware, clear, care, share The love note Ellen’s money wrote to her, and the one she intuited for the Love, your Money audience( 💌 You won’t want to miss that one. I even had the editors repeat it. 💌)Show NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/ellen-roginFollow Hilary on:TwitterLinkedInInstagramFacebookYouTubeSubscribe to Love, your MoneyApple PodcastsOvercastSpotifyGoogle Podcasts 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 the second in my two-part series on what are possibly the most misunderstood insurance products out there: annuities and whole life insurance. Our goal at Hendershott Wealth Management is to help you build wealth–and a legacy that lasts. Part of that process is protecting your wealth, and that’s why getting the right insurance matters so much!I’ve avoided covering these topics until now because it’s really difficult to find someone who can be considered an expert who isn’t also trying to sell you a policy. But then, I realized I can find product experts who are no longer selling the product–like today’s guest, Ashley Foster.Ashley used to make a living by selling whole life insurance policies, but over time he realized that he didn’t want to sell insurance–he wanted to do comprehensive fiduciary financial planning like we do at HWM. He gave up earning huge commissions that funded luxury trips with parties DJ’d by someone from the Beastie Boys (true story) to pursue a more meaningful career; one that allows him to focus on what will be the most helpful to his clients, instead of trying to sell them expensive insurance they likely don’t need.These days, Ashley runs his own firm, Nxt:Gen Financial Planning, and loves to go on vacations–that weren’t funded by commissions–with his wife and their adorable cat, François. (Make sure you check out our YouTube channel to see Frankie’s adorable unflappability!)Ashley joined me on this episode of the podcast to demystify the world of whole life insurance policies. From the actual cost for consumers to the loss of potential returns vs. investing in the stock market over the same time period, he breaks down the good, the bad, and the ethical gray areas of whole life insurance. 👇Here’s what you’ll learn in this week’s episode of Love, your Money:What led Ashley to become an expert on whole life insurance How becoming a CERTIFIED FINANCIAL PLANNER™ professional changed the direction of Ashley’s career What a whole life insurance contract is, and how it limits your long term financial growthThe true cost of a whole life policy–from opportunity risk vs investing, to the cost of premiums relative to potential benefit payoutsHow transparency, compliance, disclosure, and conflicts of interest influence insurance salesThe circumstances in which purchasing a whole life insurance policy make sense, like guaranteeing an inheritance for heirs or covering estate taxesWhether Ashley still recommends whole life insurance to clients now that his income isn’t reliant on those sales…and more. (Spoiler alert: He doesn’t recommend these policies, and neither do I!)Show NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/ashley-fosterFollow Hilary on:TwitterLinkedInInstagramFacebookYouTubeSubscribe to Love, your 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.

I’ll be honest: I’ve avoided the complex (and often misunderstood) topics of annuities and whole life insurance here on the podcast for a long time—simply because it’s pretty difficult to find an expert to speak about them who isn’t also trying to sell you a policy.That changes today, because on episode 241 of Love, your Money, I'm introducing you to Kelsey Burke, founder of Apricity Financial Planning.Kelsey spent nearly a decade working in the insurance industry, learning everything there is to know about a variety of annuity products and contracts in order to sell them to clients of her firm.Meanwhile, her internal alarms were going off as she realized that the context of selling these products was neither as transparent nor as consultative as she wanted to be.Now that she’s made a successful career transition from insurance sales to working as a holistic financial advisor, Kelsey has enough distance from the industry to see it for what it is–and she lends us her expert perspective to get an inside look at annuities in this episode.We were able to get truly honest about what to look for with annuity contracts, the pros, cons, and opportunity costs of annuities, and who they’re actually right for.(Spoiler: it’s not everyone. Far from it, in fact.)Here’s what you’ll learn in this week’s episode of Love, your Money:What makes Kelsey an expert on annuities, and what caused her to switch from insurance to holistic financial planningWhat an annuity is, and how it differs from an individual retirement account (IRA)The complexities of annuities, and what might surprise you if you own oneWhat’s often overlooked when buying an annuity, and how it actually might fit into your long-term financial plan How commissions on selling annuities worksThe opportunity risk of putting your money in an annuity What happens to the money in an annuity in the event of premature deathShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/kelsey-burkeFollow Hilary on:TwitterLinkedInInstagramFacebookYouTubeSubscribe to Love, your MoneyApple PodcastsOvercastSpotifyGoogle Podcasts 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.

Money and anxiety don’t go well together, but news headlines like to pair them up because, let’s be honest, hitting your emotional triggers is good for their bottom line. Well, here’s some good news: You don’t have to fall for clickbait, and learning how to stay the course instead of reacting to their hot takes is good for *your* bottom line. In this episode, I’m going to provide a light in the darkness with clear, level-headed, stay-sane advice to help you navigate the unknowns of external events–political, environmental, or otherwise–so you can ditch the anxiety and watch your wealth grow with ease.And when could we possibly need that assurance more than with the current conversations about national politics? It’s a hot and timely topic right now, as Americans stare down a repeated match up at the polls in November. Now, I’m not here to take a political position. I *am* here to talk about the potential impact of election cycles and other major world news on your investment portfolios. Before you listen to this 15-minute episode, know this: It’s not as dire as you might think.Listen in to demystify the effect of elections on the markets, and get insights into strategies to safeguard your investment portfolio in potentially uncertain times. Here’s what you’ll learn in this week’s episode of Love, your Money:How geopolitical risks—like wars, elections, and economic sanctions—have historically already been priced into markets, and what that means for your investments today,Why we can count on predictable resilience of markets through global events,How return follows risk, and when (and how) you might consider reducing your risk exposure,A smart way to evaluate whether a certain stock is a good bet for your portfolio, andWhat the research (and our experience) indicates is key to a stable growth trajectory in your investments over the long term. We hope you walk away with the confidence that comes from knowing your money, future, and legacy are safe and secure–despite what the headlines might say.Show NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/presidential-elections-your-moneyFollow Hilary on:TwitterLinkedInInstagramFacebookYouTubeSubscribe to Love, your MoneyApple PodcastsOvercastSpotifyGoogle PodcastsHendershott 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 episode 239 of Love, your Money! In this episode, I’m joined by my good friend Sarah K. Peck, the founder and CEO of Startup Parent, a company focused on telling the stories of women's leadership across family and work. Her work has been featured in publications like Forbes, The New York Times, Harvard Business Review, and more.In today’s digital world and scrolling through our social media feeds, thoughts of “Keeping up with the Joneses” can be overwhelming. But have you ever stopped to ask yourself if the financial dream you’re pursuing is even your own?In today’s episode, Sarah breaks down how to set financial goals that are right for you and your life. You’ll also hear about how to stop worrying about money so much, how to create a healthy financial partnership with your spouse, and how getting clear about your intentions can help you clarify your questions about money and unpack your trauma.Here’s what you’ll find out in this week’s episode of Love, your Money:Why money is worthless without intentionThe link between wealth and unhappinessFinding your way out of 6 figures in debtGetting to $100,000 by age 30 The science behind money manifestation Starting a company with young children at homeWhen to allow yourself to buy luxury itemsForming a money partnership with your spouseShow NotesTo get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/sarah-k-peckFollow Hilary on:TwitterLinkedInInstagramFacebookYouTubeSubscribe to Love, your MoneyApple PodcastsOvercastSpotifyGoogle Podcasts 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.