David and Goliath is a simple story about a small man overcoming an impossible battle with a giant. How do smaller and larger financial planning companies reflect these differences?
In this episode, Michael Labos explores the Davids and Goliaths of the financial planning industry. He focuses on what smaller businesses provide that larger companies tend to ignore and how those differences impact the client experience.
Michael discusses:
Why larger financial institutions appeal to potential clients
How clients lose out on personally connecting with their advisor in larger companies
What smaller financial businesses do differently as advisors
What potential clients should look for when debating who they should work with
Preparing for education beyond high school has become a struggle between increasing costs and student competition. How can your child optimize their chances of entering and affording their dream school?
In this episode, Michael Labos dives into college planning, starting from the early financial strategies to the benefits of different application periods to increase your child’s chances of getting into and affording their dream school.
Michael discusses:
Early financial planning strategies for educational funds
Why it’s essential to determine needs versus wants
The three categories of schools you’re applying to
How to leverage competitive school offers for increased financial aid
After your death, life insurance provides your beneficiaries with financial security. Or does it?
In this episode, Michael Labos shares why the government’s lack of love for life insurance makes him love using it in financial planning. He dives into how governments view life insurance, how to avoid its pitfalls and create a plan for you and your beneficiaries.
Michael discusses:
Two main benefits of life insurance
How governments restrict the returns granted by life insurance policies
Where life insurance fits within retirement planning
How to optimize life insurance and retirement planning to provide the death benefit to your heirs
It’s hard to know where to start when creating a financial plan. You have so many options, and it’s tough to know which one is right for you.
You’re not alone in this struggle.
In this episode, Michael Labos explains how to stop putting off your finances and start thinking about them instead. Michael shares ten small steps that will make you start thinking about financial planning.
Michael discusses:
Why effective budgeting is the number one step to financial success
How debt can grow each year due to interest rates
The cost of multiple unnecessary subscription services
How to determine your true risk tolerance for portfolio management and investment planning
When scrolling through Facebook, you may have seen posts for GoFundMe’s asking for money to cover anything from charities to surgeries. Overreliance on these types of financing has created what can be called ‘The GoFundMe Dilemma’.
In this episode, Michael Labos dives into the unfortunate connection between GoFundMe fundraising and financial planning, the downsides to using GoFundMe as an emergency fund and three types of insurance benefits for avoiding stressful financial situations.
Michael discusses:
The role of GoFundMe in society
The importance of starting a conversation about money
Why financial agents are beneficial to creating a financial plan
In financial planning, no one knows everything. But specialized advisors provide a focus for your specific situation.
In this episode, Michael Labos is joined by Evon Mendrin, founder of Optometry Wealth Advisors and host of The Optometry Money Podcast. Together, they unpack the role of specialized financial advisors within the financial services industry as well as their value to you!
Evon discusses:
The importance of preparation in financial and tax planning
Why specialized financial advisors exist
The power of niche advisors
The importance of researching financial advisors before committing
Evon Mendrin is the founder and lead advisor at Optometry Wealth Advisors LLC. Evon helps optometrists build wealth, master their money, and plan purposefully with their finances. Evon is fascinated by their profession and businesses and is here to help optometrists better understand the financial health of their practices and how it impacts the financial health of their household.
There are always questions asked upon learning someone’s profession.
What about you? What are you getting asked?
Now, what about financial advisors. Are you wondering about the top questions they are getting asked?
In this episode, Michael Labos shares some of the questions people ask when finding out about his profession as a financial advisor. Michael reveals some of the best answers he has while unveiling the considerations for different age groups when it comes to their financial and retirement planning.
Michael discusses:
Types of student loans and the importance of paying off debt
The impact of interest rates and income when it comes to home and auto investments
Ways tax laws are changing tax strategies
Why you shouldn’t compare yourself to your peers
His approach to helping Gen Xers get on track with their financial planning
It’s no secret that bear markets can be terrifying. However, with effective strategies and knowledge, there are hidden opportunities.
In this episode, Michael Labos dives into how Gen Xers can increase their investment confidence during a bear market. He reveals how long bear markets last, why they aren’t as scary as many believe, and the opportunities that can be gained during one.
Michael discusses:
The definition of a bear market
How risk tolerance impacts ideal investment options
Having a driver’s license means freedom of exploring without relying on family and friends.
However, a driver’s license also leads to fear and uncertainty around insurance premiums.
In this episode, Micheal Labos is joined by Tim Rogers, president and owner of Rogers Driving School. Tim shares tips of the trade for new drivers and teens looking to take the test — revealing the benefits of driving and driver education and the cost of insurance.
Tim discusses:
One of the biggest problems when parents teach their children to drive
The benefits of driving and driver education
Ways insurance premiums increase with teen drivers
Tim Rogers is the president of Rogers School of Driving Inc. He is a graduate of Slipper Rock University (Summa Cum Laude) with a minor in driver education. He is also a graduate of Duquesne University School of Law and is a licensed attorney in the Commonwealth of Pennsylvania. Tim grew up in the driving school industry and has been a certified driving instructor since 1984. He is also a driving examiner and administers the PA driving test as a third-party examiner for the PA Department of Transportation (PennDOT). As president of Rogers School of Driving Inc., Tim operates Greater Pittsburgh’s oldest and largest private driving school. Prior to becoming the school’s president, he was its director of operations for many years. Over the years, he has taught countless behind-the-wheel driving lessons and driver education theory classes and has conducted thousands of driver licensing examinations.
Many people want to put off budgeting, complaining about how boring or depressing it is.
What many don’t consider are the gains granted from understanding your spending habits.
In this episode, Michael Labos discusses the importance of creating a budget, understanding your financial goals and avoiding lifestyle drift. He reveals the wasted financial opportunities through unnecessary spending and unused subscriptions, diving into control and monetary gains from creating a budget.
Michael discusses:
The importance of understanding what you will be spending in retirement
The different types of budgets
How taking control of the budget saves money
Why budgeting is important for financial and retirement planning
