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

Everyone has an opinion about sales, and for many, that opinion isn’t very positive. However, if you’re an entrepreneur, you’re in sales! There’s no way around that! Despite some reservations about it, we all know that a career in sales can be very, very lucrative. So if you’re looking to increase your income this year, this episode of ProfitBoss Radio is a must-listen. Judy Hoberman is my guest today, and she is sharing with us her lessons learned from a 30-year career in sales.    What surprised me most about this interview is that Judy is very clear sales isn’t about kitschy closing lines or being manipulative, it’s about building a connection with people, asking the right questions and doing the right thing. You’ll love the way Judy makes sales seem warm, friendly and accessible. Judy has experience in just about everything from education to insurance. She even did a stint as a roofer!    Now, Judy is transforming her years of experience into actionable tools that her clients can do to boost their sales. As always, her focus is never on building a script or crafting closers. Instead, Judy wants to take the very natural way that women can build trusting relationships and turn that into a selling superpower. Judy believes that, in a sense, everyone is in sales in some capacity, so I think every ProfitBoss listener will benefit from the incredible advice Judy is bringing to the show today.    What You Will Learn in this Episode:  Judy started in sales as a Girl Scouts who built relationships with her customers.  The company where Judy learned her best sales lesson.  How Judy got her degree in Educated, got laid off, started as a roofer, and then landed in insurance.  Lessons we can learn from the glamorous world of insurance.  What women need to know about how sales actually work.  You don’t have to be slimy and manipulative as a salesperson.  The questions you need to ask in order to build trust.  Hire a coach or a mentor to help you reach those higher levels in your company.  How to run a one-woman show!  Have conversations, not closers.  Advice for people who aren’t “in sales.”      Links Mentioned in the Show  http://www.sellinginaskirt.com/ http://www.sellinginaskirt.com/on-the-radio/   @SellingInASkirt on Twitter and Instagram  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 all know that real estate is a worthy investment, and on your path to financial freedom, you will likely enter into the complex process of selling or buying a home. When it comes to real estate, knowledge is power. That being said, very few sellers or buyers are actually doing their homework. We are also battling cognitive biases that will lead us down a dangerous path if we aren’t careful. That is why I am so glad to have my guest, Aaron Hendon on the show today. Aaron is an award-winning, Seattle-based Realtor who is on a mission to educate buyers about the real estate process. His book, Shortchanged by Shortcuts? 44 Surprising Ways People Rip Themselves Off When Buying Or Selling Their Home outlines the common pitfalls we tend to fall into when buying and selling real estate.  You need to understand the transaction process in order to make the most out of real estate. When you think about choosing a Realtor, do you think about interviewing them as you would when hiring an employee? How do you know if your agent has your interests in mind? Is there such a thing as a discount broker? Aaron will answer these questions while busting a few real estate myths in today's informative episode. We will discuss the ways you can become a savvy home buyer and a confident home seller. A home is an enormous investment, and like all financial decisions, you want to be informed before you make your choice. Aaron is going to ensure that all ProfitBoss listeners stop making common real estate mistakes so they can start investing wisely.    What you will learn:  •    Aaron is not trying to become a behavioral economist, but understanding the choices we make is still very important.  •    How to understand cognitive bias.  •    Aaron will teach you how to interview a Realtor.  •    What you should do first when you want to sell your home.  •    Why it is important to verify information your Realtors give you.  •    How to think about the costs of selling a house and the merits of using an agent.  •    The buyer is paying for the commission.  •    It is critical to set the price of the home without the emotional weight of history.  •    Aaron teaches us how to evaluate markets to compare the pricing of your house.  •    How to consider all kinds of offers and how a good Realtor helps you navigate them.  •    Understanding the asymmetry of information in the deal.   Links Mentioned https://www.rationalrealestate.pro/book Shortchanged by Shortcuts? 44 Surprising Ways People Rip Themselves Off When Buying Or Selling Their Home   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 can never be any secrets in money. Today, I have an amazing and compelling interview with Janet Lombardi, author of Bankruptcy: A Love Story. In 2007, Janet called her financial advisor for a routine check-in because she hadn’t received her annual statements in the mail yet. What her financial advisor told her changed everything: He said, “The accounts are empty. Get an accountant, get an attorney, and get a private detective.” This is Janet’s account of the financial fallout that resulted from her husband’s secret money mistakes.    I am thankful that Janet is willing to tell her story openly and honestly with the Profit Boss Radio audience. As you might have already guessed, the road to recovery was not an easy one. Janet is just as willing to offer up the lessons she has learned, as well as her own culpability in the situation. Janet had to do her homework. She was no longer able to deny the hard truths about money. What she found on the other end was a sense of empowerment and confidence when it comes to finances. I think her story will be inspiring to women who have always just referred to their husbands to handle finances. Knowledge really is power, especially when it comes to money.    Listen this week as Janet shares how she pieced together her life from bank statements and hidden documents. As a result, she’s a bit of a source on personal finance! Sometimes, the most difficult and complex situations lead to the simplest conclusions. Know where your money is, and use it well!      What You Will Learn In This Episode How September 11th impacted the world, but also her husband.  Janet’s husband was struggling with addiction which intensified after the events of 9/11 Janet was not having a shining moment in her life during the crisis point in her marriage.  What happened when Janet knew her accounts had been drained.  Janet had a very complex financial life, and she had to do the hard work of piecing together her husband’s money mistakes.  As more and more devastation was revealed, Janet was still trying to reconcile all the heartbreak in her marriage.  Through it all, Janet grew to understand herself better than ever before.  Janet created a “Punch List” of things she needed to do to get out of debt.  The keys to a financial rebound, and habits anyone can use to come back from a setback.  How to find freedom through practicality.      Resources Janet Online  www.janetlombardi.com   Debter’s Anonymous    Progrexion   Ignite Investing www.igniteinvesting.com   Bankruptcy, A Love Story by Janet Lombardi   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.

One of the biggest steps we have to take on our journey to financial freedom is to decrease the burden of debt. Paying minimums can delay immediate problems, but debts can pile up quickly and might cause you to miss out on some of your dreams. I am bringing you a story today of a listener who found herself in considerable debt but was determined for it not to ruin her relationship or put a dent in her career goals. This is the story of Beck, a listener and member of the ProfitBoss community who worked hard and has had a huge financial turnaround. It just about a year and a half, Beck went from debt to wealth in a major way.    Beck started out her early adulthood with some damaged perceptions around money. Her father made some serious money mistakes but always tried to create a comfortable lifestyle for his family. Beck initially wanted to present an image of wealth and prosperity, even though she was paying for her lifestyle in credit. She was aware this was a problem but was unmotivated to take the drastic steps needed to get out of thousands of dollars of debt. When she started a relationship with her future husband and the pair moved to New York for work, Beck's debt could no longer be ignored.   Listen this week to find out how Beck got out of debt, learned to be a saver, and built up her confidence around money matters. She is proof that honesty about our financial situation has a massive positive impact on our relationships. Though she wanted to be perceived in a certain way, Beck now understands that her former life just didn’t hold up with reality. Now, her lifestyle is supported by her means, and she enjoys her wealth without money becoming her master. If Beck’s story resonates with you, I think this episode will be of particular encouragement to you. Beck is proof that when we steward our wealth well, we can be more prosperous than we could ever imagine!    What You Will Learn in This Episode:   How Beck knew she had a financial problem and her state of mind in that time.  Why Beck tried to put on the image of success.  All the emotions and inherent beliefs that Beck had to battle.  Childhood has such a huge impact on how we treat money. Beck’s was especially unusual due to mistakes on her dad’s part.  Beck hated money because she felt like it caused suffering.  Why chronic over-spending felt the way for Beck to live her life to the fullest.  Good income doesn’t necessarily equal wealth.  Learn Beck’s lowest low, and why that was such a wakeup call for her.  How Beck got a payday loan.  Beck’s relationship with her future husband was the catalyst for her financial freedom.  Even though she tried to do all the right things after a move to New York, ends were still not being met.  How Beck’s mental habits have shifted since she learned so much about personal finance.  Beck and her husband automated their savings and planned ahead more than ever before.  Now, Beck is saving and investing by making smart choices with her money.  How you can go so far towards having a significant net worth after accruing so much   debt. 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.

Forming a healthy relationship to our finances is all about taking small steps towards our ultimate financial goals. No matter your income, I believe you have the capability to find financial freedom. If you are looking for a little financial peace today, then you are going to love my conversation with Rachel Cruz! Rachel has a down-to-earth, practical perspective on finances that comes from an early exposure to money management skills. That’s right, Rachel’s dad is the one and only Dave Ramsey, who revolutionized the world of personal finance for so many of us!    Growing up with Dave Ramsey, you might think that Rachel spent her days filling in spreadsheets and planning mutual funds, but she assures me that isn’t the case. Instead, Rachel grew up with a healthy relationship with her finances and a desire to share that knowledge with others. Rachel has a natural love of public speaking, and even when she was still a child herself, she was sharing what she knew with those around her. Today, Rachel has published not one, but two bestselling finance books. She is teaching women all across the world how to be wise with their money and live financially free. It’s not just about getting out of debt, though that is important! Rachel focuses on easy steps that you can take to make wise decisions with your funds.    Today, Rachel is going to give us an overview of her Love Your Life, Not Theirs: 7 Money Habits to Change Your Life. When you develop these habits, you will create for you and your family a sense of financial freedom like never before. These tools really work!    Show Highlights: Rachel shares how she got started in the “family business” of personal finance.  How to package the message of financial responsibility for a younger audience.  Money was often talked about as a family in the Ramsey household.  The tools that you can use to have practical conversations with your kids.  Rachel talks about the inspiration behind her book.  How to manage your social media emotional drain.  Rachel shares her perspective on buying cars and paying off debt.  Make a plan for your money! Give every dollar a job.  How to make an emergency fund.  Tackle your financial plan with your spouse and get vulnerable.  Get the order of operations as far as your savings go.  Using cash is instant accountability.  Sleep on it! Think before you spend.    Resources: Rachel's Website Love Your Life, Not Theirs by Rachel Cruze    Enter the Book Giveaway: To be eligible to win you need to complete the following steps:   Enter to win using this link: https://1.shortstack.com/rclRkn Share Episode 95 with your Facebook friends by posting this link: 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.

When a parent leaves an inheritance as a legacy for their children, the intent is always to secure their future. Statistics tell us that 1-in-3 heirs end up blowing all the money, rather than stewarding it well. Earning and keeping are two drastically different skillsets, and having advice and counsel is essential to manage wealth well. But what would happen if all the advice in the world was basically useless? What would happen if you knew you were going to inherit but had your hands tied?    Today, I have an interesting story about what happens when an inheritance rattles the future, rather than securing it. It is truly a tale of good intentions gone awry. In this interview, my client, who will be known only as “Annie”, tells the story of inheriting $4M from her parents. Annie shares everything she has had to go through just to get her hands on the money that was rightfully hers. Even though her parents took the time to have a trust drafted, she never found the actual trust documents and had to go through the probate courts to have assets transferred to her name.    This is a cautionary tale to people everywhere of the high costs on the people you love if your estate plan is incomplete! Also, Annie had strong emotions about the money to overcome—before she inherited money she lived paycheck to paycheck, and even marched on Occupy Wall Street. Listen to find out if her perspective on wealth has evolved as she inherited.    This is a very moving and vulnerable story. It reminds me that a legacy is an incredible gift, but it is also a heavy weight to bear. I know you will come away from Annie’s story with a lot to think about, (and hopefully, let someone know the location of your Will when you’re through!)     What You Will Learn In This Episode:  •    We start from the beginning: Annie always knew she would inherit money.  •    Money and inheritance were abstract.  •    Annie feels like she almost exchanged her parents for the money.  •    How the whole trouble with the trust started.  •    Lawyers don’t always have a copy of the trust.  •    The time it takes and the uncertainty that follows a missing trust.  •    How Annie has managed the pain and fear over the inheritance.  •    Annie’s early days living paycheck to paycheck taught her about what it means to be “enough.”  •    All about some of the technical aspects of inheritance.  •    Annie’s vision for her life with this inheritance.  •    Money has an effect on people. Learn how Annie’s social life has shifted.  •    How to ensure people in your life has copies of your will.  •    What Annie is planning to do with her story.    Featured on the show https://www.profitbosslive.com/ https://www.50kwealthmultiplier.com/ 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.

When we think about a hero’s journey, it’s tempting to play up the sweeping dramatic moments and downplay the mundane or sacrificial choices they make to reach that hero status. I have a story for you today that doesn’t pull punches but is just as heroic as any grand adventure we might read about. When I first heard Jackie B’s story, I could feel the strings of my heart being pulled in a million directions. Yes, Jackie is currently living out her dreams, but she had to make hard choices and take calculated risks to get there. To hear her tell it will tug at your emotions in the best way because she is living proof that you can come to your own rescue. Are you ready to feel empowered?  You can find show notes and more information by clicking here: http://bit.ly/2BntiPIHendershott 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.    You can find show notes and more information by clicking here: http://bit.ly/2jnUhWV 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.

Conversations about money are never easy, and talking to kids about money is no exception! This is one of the topics I get asked about most about, so I am thrilled to be able to bring to you the excellence and expertise of an incredible guest. If you are a parent or caregiver, your top priority is to make sure the child in your life is set up to succeed well into adulthood. Perhaps you have made some money mishaps that you insure your kids against. Maybe you just want to be proactive and start those money conversations early. Regardless of your motivation, it’s time to think critically about how to pass on smart money principles to the little ones.   My guest today is Neale Godfrey, an incredible asset to any parent thinking about money conversations with their children. Neale owns and operates Money For Life, and is the author of 27 books dealing with money, life skills, and important values. Neale was one of the first female executives at Chase, and is founded Children’s Financial Network INC. If all of those credentials don’t convince you Neale knows what she’s talking about, then her direct style of communication will.  Neale knows the only foolproof way to ensure that your financial legacy passes on to your children is to talk about it. Today, she will impart to you all the skills and strategies you need to have these difficult conversations. Whether your children are still little or entering into adulthood, Neale can share with you just what you need to set them up for success.  You can read the full show notes and access all the links and resources at http://bit.ly/2CizRbz.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.

2018 is nearly upon us, and I know you are already thinking about your finances. This is the perfect opportunity to think back at all of the money choices you made in 2017 and begin to set some goals for the year ahead. Are you in the same camp as 42% of Americans who think setting resolutions is a waste of time? Are you excited to grow even closer to your freedom number this year? Whether you are the former or the latter, this episode is going speak right to you.    To begin this special New Year’s episode of ProfitBoss Radio, I wanted to touch on a question that I hear many of you asking: What’s the deal with Bitcoin? Bitcoin is a type of cryptocurrency or a digital currency. Bitcoin is not just digital currency, it is also a social movement. A group of people wanted the government out of their business, so they decided to create their own currency. While Bitcoin seems to be having a moment in popular culture, as is this BlockChain Technology it is associated with, I would never advise my clients to invest or speculate with it. Listen to hear my full Bitcoin analysis.    Zooming back out, I wanted to take a moment to help you take stock of where women are financially. We’ve come so far, and we still have far to go. I’ll take a moment to show you how the numbers are stacking up for women and their finances in 2017. Armed with this knowledge, I want you to take stock of the choices you’ve made with your finances this year, and then let it all go. Now is the best opportunity you have to restart and refresh your goals and mindsets.    You might not be prepared to stick to a resolution on your own. Thankfully for you, there are many studies demonstrate that there are tactics you can employ to stick to your resolutions. Accountability is the key, so I want to invite you to join a mastermind with me in San Jose on January 19th. Listen to this episode to learn the secrets of better goal setting, and then go into 2018 prepared and ready to tackle anything.   What You Will Learn in this Episode:  Learn everything you need to know about Bitcoin. Get all the stats on the State of the Union for women and money.  Many people do not believe in New Years Resolutions. Learn how to make them stick.  Maximize your tax savings and other financial goals you can take this year.  The tools you need to get you started.  Learn why financial resolutions always fail.  Hear all about Your Custom Wealth Plan and how to get involved with my Mastermind program.     Featured On The Show  https://www.profitbosslive.com/ https://www.50kwealthmultiplier.com/   Questions? Send them to my team!  info@hilaryhendershott.com   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.