Dave is a very thoughtful individual. He is a hard worker and loves what he does. In fact, were money, not an issue, he’d probably still do what he does because it brings him joy helping people and businesses. He thrives on creativity and growth as a husband and father. Dave has helped lead McKee, Wallwork + Co. to win Advertising Age’s “SW Agency of the Year”—twice, Advertising Age’s “Best B2B Campaign of the Year,” and Advertising Age’s “Place to Work”—also twice.Needless to say, the dude is a deep well of wisdom and insight and we hope you are able to pull a couple of nuggets from what he brings to the conversation.Also, stick around for the After the Show Show (a record 24 minutes!) where Ryan dives further into Dave’s brain about defining “wealth,” “retirement,” and walking through “Kinder’s Three Questions.”Reach Dave:http://www.mckeewallwork.comdortega@mwcmail.comFollow on Instagram:@mckeewallwork Have financial questions?  Need some help with your small business or retirement planning.  Check out smplwealth.com to learn about Age-Based Financial Planning.

Financial Jargon

Consulting - An Interview with Dave Ortega

It's important for you to have financial confidence when facing a life change. Episode NotesLooking for an advisor to help you with your financial needs.  Be sure you're asking all the right questions.  Download the 7 Questions to ask a Financial Advisor HereIn this episode, David and Ryan discuss the importance of focusing on what we can control.  When uncertainly arises, especially if you're transitioning into retirement in this current environment, it's important to do what you can to minimize fear.For info on how Smpl Wealth has made it easy for you to get financial help and guidance, visit smplwealth.com. No hidden fees, 100% transparent pricing.  Easy peasy.FREE DOWNLOAD - Guide to Retiring in Uncertain TimesDon't forget to listen to the After-the-show show where we discuss "Don'ts".

Uncertainty

Looking for an advisor to help you with your financial needs.  Be sure you're asking all the right questions.  Download the 7 Questions to ask a Financial Advisor HereIn this episode,  David and Ryan discuss why it's important to ask smart questions to your financial advisor, or a prospective advisor.  It's important to find a financial advisor that is the right fit for you and your unique financial needs. Not all advisors are created equal. Some are independent, some are legally required to act in your best interest, and some are limited to the advice that they can give. There are different fee structures - some disclosed, some not. Understanding what questions to ask will put you in the driver seat from the very beginning.For info on how Smpl Wealth has made this really easy, visit smplwealth.com. No hidden fees, 100% transparent pricing.  Easy peasy.

Ignorance

Tish loves people.  She's a creative and values community.  She's a risk-taker (like opening a new store during a pandemic) but also has a good grasp on how important it is to have people around that she trusts to help in areas of her life that she's not as confident in. She's a social media influencer (follow her now on Instagram @nolongerwander), a photographer, mother, wife, and business owner.  But, she's amazingly honest, open, and optimistic.Oh, and she's excited about Albuquerque, where it's going and wants you to jump on the bandwagon.Follow Tish:@nolongerwander@nolongerwandershop@mattandtish@1964hausHave financial questions?  Need some help with your small business or retirement planning.  Check out smplwealth.com to learn about Age-Based Financial Planning. 

Tish Carlson - No Longer Wander

There often seems to be a disconnect between advisors and individuals.  Unfortunately, many don't seek out financial guidance because of three reasons:They don't want to be sold something or taken advantage of.They feel like they can do it themselves (with the help of Google and YouTube, of course).They think it's going to be too expensive.That's why we created Smpl Wealth, an Age-Based Financial Planning® comprehensive financial planning and portfolio management platform.  Say goodbye to high fees, account minimums, trade costs, sales pitches, and back-room deals.With 100% transparent pricing, fees are easy to understand.  We want more money staying in your investment pockets, working for you, and your goals.  Makes sense, right?Listen to the show to find out more and visit www.smplwealth.com to joint the Waitlist.For podcast listeners, join the Waitlist at www.smplwealth.com and enter the Promo code "Jargon" to receive 25% off your plan. 

Smpl Wealth

Mental accounting attempts to describe the process whereby people code, categorize and evaluate economic outcomes… in other words, we often tend to place a different value on our money, depending on where it comes from - think salary vs bonus - they way we treat different categories of money is different.Need to speak to a financial advisor? Visit www.oakmontadvisory.com.[5:32] - What is Mental Accounting[8:00] - Concept of Fungibility [12:42] - Who is more likely to avoid Mental Accounting traps[17:00] - Tips on how to avoid Mental Accounting After the Show-Show[28:15] - The After the Show-Show beginsHow to avoid mental accounting:Know what you haveCreate a purpose for inflows and outflowsStop keeping everything in your mind and write it downGet a budgetTranslate your goals from your brain to a binderGet an accountability buddy to help youTalk about itLabel your accounts! Actually label themEmergency, travel, baby, soccer, retirement 

Mental Accounting

Need to speak to a financial advisor? Visit www.oakmontadvisory.com.[4:48] - Social influences on your money making decisions[5:45] - First level of social influence - conformity [7:30] - How your environment influences your behaviors [11:30] - Second level of social influence - compliance[17:07] - Third level social influence - obedience After the Show-Show[22:40] - The After the Show-Show begins

Financial Mimicry

Fear, greed and stupidity.  "Only two things are infinite, the universe and human stupidity, and I'm not sure about the former." - Albert Einstein The background info for this show comes from a study done in 1976 by a professor of economic history at the University of California, Berkeley. Carol M. Cipolla published an essay outlining the fundamental laws of a force he perceived as humanity’s greatest existential threat: Stupidity.Stupid people, according to Cipolla, share several identifying traits:they are abundant,they are irrational, and;they cause problems for others without apparent benefit to themselvesNeed to speak to a financial advisor? Visit www.oakmontadvisory.com.[5:12] - Definition of Stupidity[8:30] - The first law of Stupidity[11:39] - Try to take an unbias approach to your investment decisions[13:31] - How peer groups could you lead you [financially] astray[17:07] - Why the stupid person is the most dangerous type of personAfter the Show-Show[24:13] - The After the Show-Show beginsMarkets & Emotions Chart - https://www.forbes.com/sites/robisbitts2/2018/07/31/the-cycle-of-market-emotions-where-are-we-now/#4a910d293cf5Carl Richards, The Behaivor Gap - https://behaviorgap.com/

Stupidity

As was mentioned in the show, leave a review and comment about how Fear/Greed led you to making an investment decision, and we'll send you a FREE COPY of Carl Richards, The Behaivor Gap book (it may change your life!).Need to speak to a financial advisor, visit www.oakmontadvisory.com.[5:38] - Greedy outlooks could deceive you in thinking every outcome is only going to be positive[9:45] - Why we tend to get Greedy[13:00] - Greed creates (and leads) to overconfidence[18:50] - Questions to ask yourself before making your next finanical decision[21:30] - How an advisor can help you reduce the Fear or Greed emotionAfter the Show-Show[24:30] - The After the Show-Show beginsMarkets & Emotions Chart - https://www.forbes.com/sites/robisbitts2/2018/07/31/the-cycle-of-market-emotions-where-are-we-now/#4a910d293cf5Carl Richards, The Behaivor Gap - https://behaviorgap.com/

Greed

Episode NotesNeed to speak to a financial advisor, visit www.oakmontadvisory.com.[5:20] - A scary lake story[9:30] - How fear can hurt your financial plans[12:25] - What is fear?[14:10] - Why the traditional risk tolerance quesionnaire's are not enough[16:50] - Common financial fears[23:00] - How to address investment fear with your moneyAfter the Show-Show[27:00] - The After the Show-Show beginsMarkets & Emotions Chart - https://www.forbes.com/sites/robisbitts2/2018/07/31/the-cycle-of-market-emotions-where-are-we-now/#4a910d293cf5CNN Fear & Green Index - https://money.cnn.com/data/fear-and-greed/     

Fear

Need to speak to a financial advisor, visit www.oakmontadvisory.com.[2:56] - How over confidence can lead to us astray (and, the start of a long Ryan story)[6:30] - Now, David reflects on a skateboarding incident[9:10] - We don't want to look, or feel stupid, about our finances[11:53] - Attention bias[16:01] - Active vs. Passive investingAfter the Show-Show[23:05] - The After the Show-Show beginsBook recommendation:Daniel Crosby's book, "The Intelligent Investor" - https://www.amazon.com/gp/product/B07HH99WH8/ref=dbs_a_def_rwt_bibl_vppi_i1Prospect Theory -https://www.investopedia.com/terms/p/prospecttheory.asp

The Ego (Part 2)

Need to speak to a financial advisor, visit www.oakmontadvisory.com.What comes to your mind when you think of the work "ego"?  [6:05] - What egos (not eggos) are[7:15] - Confirmation bias discussion[10:15] - How confirmation bias can lead you down the path you WANT to go on, and not the path you NEED to go on[14:10] - We tend to like what's available, or what we currently own...until there's a new, bright shiny option that comes available[15:45] - Ryan uses the word "undress" and "budget" in the same sentance[20:15] - Set the ego and pride to the sideAfter the Show-Show[25:12] - The After the Show-Show beginsBook recommendation:Daniel Crosby's book, "The Intellegent Investor" - https://www.amazon.com/gp/product/B07HH99WH8/ref=dbs_a_def_rwt_bibl_vppi_i1   

Ego (Part 1)

Whether you’re raising a young child, sending your kid off to college, or watching your kids raise the next generation, kids cost a lot in America. There’s no getting around that.And money is just one way you’re spending on your kids. In fact, research shows that parents aren’t just spending more money on children these days—they’re also spending more time and energy on their kids than ever before.Why?Because parents and grandparents want to give the kids in their family the best possible life.Often, that means doing more than just housing, feeding, and educating kids. It can mean taking them to ball games and concerts, paying for special lessons, throwing memorable birthday parties, taking vacations, and more. These activities and experiences you enjoy with your children can create lifelong memories you can never put a price tag on.Of course, all of that does come with some up-front costs. But I think most parents would agree that the costs are worth it.Budgeting Tools:www.mint.com Nerd Wallet - 7 Best Budeting ToolsFinancial Planning Help:www.oakmontadvisory.com

The Cost of Raising Kids

Que the music...for those that don't know the B.I.G.  Here's a slice -  New York  Federal Reserve's Survey of Consumer Expectations - https://www.newyorkfed.org/microeconomics/sceFinancial Time's Six Financial Personality Types - https://www.ft.com/content/5e8da24c-bb09-11e6-8b45-b8b81dd5d080  

Financial Anxiety

Yikes! Scrolling through Facebook the other day, we counted 18 fear-based ads targeted to investors mainly trying to sell a product.As you're seeking guidance with your financial planning and investments, be sure you do your homework and due diligence  before you jump into the sales pitch.  Understanding who are speaking with is a critical first step.  Don't be afraid to ask questions...here a few that you should consider asking (don't be afraid!).Are you a fiduciary? What types of clients do you work with?Do you create financial plans or just offer product?How often would we meet to review goals?How do you get compensated?What planning tools do you have available for me to use?Can I review your ADV-Brochure?Are you an independent advisor (owner) or an employee of a financial firm?Interested to see what our process looks like?  Check out www.oakmontadvisory.com/blueprint

Fear-based Financial Planning

Welcome to Financial Jargon, where we aim to break down the wall between you and your financial advisor. Too many advisors speak over their clients' heads by using intelligent-sounding jargon that doesn't truly help. It's time for real conversions that lead to real change. We're here to simplify the financial world and help you become a smarter investor.

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Financial Jargon

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