Worth It

Our minisode series on the COVID-19 pandemic continues to roll out, and in our latest episode, we tackle a question many of y’all probably have on your minds: is this a short-term or a long-term thing? We’re in a bear market, the possibility of a recession is looming on the horizon...so how long is this gonna last?  We can’t tell you exactly how long things will last, of course. We aren’t wizards (yet). But we can share some helpful advice to help you get through it. In this minisode, we talk about what we can expect based on historical data, how long “crisis mode” may last, and what you should remember so that you don’t give in to the panic and fear.  WHAT YOU’LL LEARN How long “crisis mode” might last How long the actual recession might last, historically speaking The way overinflation can fool us Keep the long term in mind Positive takeaways from previous recessions   This material is for general information only and is not intended to provide specific advice or recommendations for any individual.   RESO

As we’re now officially shoulder-deep into quarantines from COVID-19 and continue to experience uncertainty in our daily lives, as well as the stock market—we’ll be providing periodic updates on what’s happening, how to interpret it, plus any actions you can be taking right now as a result of any developments. As of late March 2020, we’re officially in a bear market, which is sparking a lot of questions and stoking the recession fires. We know that what’s happening in the stock market right now can be incredibly confusing and you’re wondering what all this means for you and your business. This week we’re giving a layman’s terms update on what’s happened these last two weeks in the market and what you can do right now in the midst of the chaos.  WHAT YOU’LL LEARN How the pandemic is affecting the stock market Why we’re seeing wild swings in the market and what they mean When will the stock market stabilize?  What officially being in a bear market means for your business Are we in a recession? Three things you

As coronavirus continues to create uncertainty in our daily lives that’s being reflected in the stock market, we’re starting to hear more and more talk about an oncoming recession. And while we’ve not yet been declared to officially be in a recession (as of the time of this recording)—we are overdue. Fortunately for entrepreneurs, our job description is to help people by solving problems. And while a recession brings problems to light, it also brings opportunities for entrepreneurs to solve those problems. We know that this can be an incredibly uncertain time, and you’re likely wondering how to be proactive and help prepare your business for a potential recession once the coronavirus quarantines are over. Dustin and Danielle give their 3 best ways in this short video, which we hope helps calm some of your fears and answers some of your questions. WHAT YOU’LL LEARN Is this market uncertainty from coronavirus quarantines going to result in a recession? What is a recession and how does it work? Options to incre

March 2020 is one for the books. The coronavirus has reached pandemic level, many cities and states are issuing quarantines and shutdowns, and the stock market… well. The stock market is a reflection of just how crazy our lives are right now. We know that this can be an incredibly scary time, and you may have questions about your investments. Danielle is answering them in this short video, which we hope helps calm some of your fears and answers some of your questions. WHAT YOU’LL LEARN The #1 question we hear from clients and listeners How long a recession usually lasts The difference between greed and fear in the stock market right now Why it’s important to remember that no one has a crystal ball The mentality you need to embrace to handle this stock market Watch the video here: https://www.youtube.com/watch?v=TEtnRQG4wQ0&feature=youtu.be RESOURCES & PEOPLE MENTIONED The Toujours Planning Quiz — Are we a good fit for your financial planning needs? The Toujours Planning Blueprint to Wealth + Secur

We’ve got something new for you! Every couple of weeks, we’ll be mixing up the style of our podcast: 1 week will be long-form and the following week will be a minisode. These are super short-and-sweet tips to help you get your financial house in order, get the DL on what’s going on in the economic world, and generally empower you to live life on your terms! With that said, let’s dive into this week’s episode: What is a Work-Optional Lifestyle & How Can You Get There? The most exciting part? You can choose your own adventure: listen to the audio above (or on your podcast app) or pop over to the video to watch this 2-minute clip right now! WHAT YOU’LL LEARN: What the goal of our work really is What BULB stands for How you can calculate your BULB number How to start putting money toward your BULB Why we believe in a work-optional lifestyle instead of retirement As we’ve mentioned before on this podcast, we’re big fans of the BULB. BULB, which stands for back-up life bank, is not a complex number to figure

Have you ever heard about penny stocks? Are you wondering what they are and if you should be getting in on that action? We’re covering everything about penny stocks in this episode of Wealth by Design, so buckle up. Warning: we do not shy away from our opinions about penny stocks in this episode!   WHAT YOU’LL LEARN [01:20] What is a penny stock? [03:01] How Dustin was introduced to penny stocks [06:10] The reality of Dustin’s dot com story [08:19] Common misconceptions with penny stocks [09:54] The type of investment strategy you should have [10:34] Why penny stocks exist [12:10] All about pump and dump scams (yes, like in The Wolf of Wall Street) [14:22] Our final verdict on penny stocks   What Are Penny Stocks? Penny stocks, as their name implies, are stocks that trade for less than $5 per share. You’ll find lots of penny stocks that cost less than a dollar or even less than a penny. Of course, that’s part of their appeal. These cheap stocks seem attractive when compared to companies that t

What do children’s fables, dog memes, human nature, and investing have to do with each other? Well, you just might have to listen to the full episode to understand. In a nutshell, though, Episode 104 is all about human nature and how it can work against us when it comes to investing. Fear of the unknown and fear of failure can hold us back. And greed can lead us down some bad paths and entice us to make poor decisions that we’ll pay for later.  WHAT YOU’LL LEARN [00:50] The enemy of investing [02:10] A famous quote on investing from Warren Buffett [04:22] How financial advisors temper your expectations [07:13] The roles fear and greed play in your finances [08:21] A case study on fear during the 2008 financial crisis [12:15] A quick detour into fables and fairy tales [17:24] Herd mentality and normalcy bias [20:35] How to fight fear and greed You Can’t Always Count on Your Golden Eggs We kicked off this episode with a famous quote from Warren Buffett: “Be fearful when others are greedy and greedy when other

What’s the most important part of your financial strategy? Creating an emergency fund? Saving and investing? Understanding what money goals you need to set for your priorities? Trick question, it’s kind of all three. In this week’s episode, we’re revisiting an old friend who you may have heard a lot about on this show: the bucket strategy. That’s right, folks. But this time, we’re paying special attention to the middle child of the strategy, the intermediate-term bucket.  We talk about why you may have been neglecting that middle bucket, as well as how you should be using our bucket strategy overall, in this episode. WHAT YOU’LL LEARN [00:40] Why we’re diving into the intermediate-term bucket in this episode [05:22] Reviewing the bucket strategy [06:46] Accounts you might have for each bucket category [10:51] Why the focus is all on retirement [12:27] Why you might be neglecting your intermediate bucket [13:29] The number one asset you have in investing (hint: we talk about it a lot) [14:25] Be

We talk about fear a lot on our podcast. Fear is natural and, TBH, necessary. But when it comes to finances, three types of fear tends to hold us back: from investing, from charging clients what we’re worth, or from taking chances when building a business. Fear can also make you focus on the wrong thing when it comes to your net worth. Paying down debt rather than building up your assets, to be specific. And that’s what we discuss in this week’s episode: where our fear of the “debt boogeyman” comes from, our three-step strategy on how to overcome it, and what part of your finances you should be focusing on instead.  WHAT YOU’LL LEARN [00:46] The first of our Nine Commandments [01:25] What is your net worth? [01:54] Debt vs. assets: which should you focus on more? [04:01] How we got inspiration for this episode [09:38] Why the Dave Ramsey way of looking at debt is problematic [10:54] The types of assets you need [13:41] Where did Millennial “fear of debt” come from? [16:15] How to change your de

The robots have taken over. Just kidding. In reality, robots haven’t taken over — but they have taken over a major chunk of the financial industry in the form of robo-advisors. A lot of people assume that we’re going to bash on robo-advisors (“The robots are taking your jobs!”) or that we will tell them a human advisor is the only way to go.  But the truth is, we think robo-advisors are actually pretty useful. Of course, there’s a time and a place to use them, which is exactly what we cover in this episode of Wealth by Design. WHAT YOU’LL LEARN 01:30 Dustin’s concerns about robo-advisors earlier in his career 01:48 Why they’re not a threat to the financial planning industry 03:37 What robo-advisors are  04:24 Why it’s not a question of which to use, but when to use each 05:22 The questions that may come up around using a robo-advisor 07:11 The major downside to robo-advisors (hint: it’s about customer service) 08:00 The limiting beliefs that come when people consider hiring a financial advisor

Let’s address the elephant in the room first: what does the phrase “stock market” mean to you?  Fear! Panic! Crash!  We get it. But we’re here to tell you… the stock market ain’t that bad! There are a lot of misconceptions about investing in the stock market, thanks to fear-mongering in the news, horror stories from family and friends, and a lack of education about the stock market in general. Your fears are valid, but they can also hold you back from growing your wealth. Your fears may also be why high yield savings seems like the better option for your money.  In this episode (Episode 100, by the way

When you work a traditional 9-to-5, working from home (for yourself) can feel like a real treat. You sit in a comfortable chair of your choosing, you can blast music as loud as you want, and pants are optional. But anyone who works remotely full-time or runs their biz from their home office knows: it’s not all sunshine and rainbows. Much of the time, you’re fighting distractions that are pulling you away from your work. Thankfully, Focusmate can help you… well, focus. We talked about productivity and human habit with Focusmate’s creator, Taylor Jacobson, on this week’s episode of Wealth by Design. WHAT YOU’LL LEARN [01:46] Who Taylor is and how he created Focusmate [05:05] How Focusmate uses virtual coworking to help you get work done [07:48] The versatility of Focusmate (it’s not just for paperwork!) [09:00] How Focusmate creates a distraction-free environment [10:44] Why we still need accountability in the digital age [13:18] Using behavioral triggers to get into a “flow state” [15:23] The three

No one uses an actual punch clock at their job anymore, right? However, the concept of a punch clock — punching in to start a shift and punching out when it ends — is ingrained in many of us, even as business owners who write our own checks and make our own schedules. But it doesn’t have to stay that way! On this episode of Wealth By Design, we talk about how you can start changing your mindset and your life right now. WHAT YOU’LL LEARN [01:29] Why the punch clock is the enemy   [01:56] The irony of making your own hours as a business owner  [02:41] Living in the age of distraction  [04:23] Why so many professionals start their own business [04:57] How financial planning can help you defeat the punch clock [06:21] The hustle and grind of being a business owner [08:57] What “revivement” is [10:54] How your passions can guide your work [12:03] The important business strategy people aren’t talking about [14:20] How to start building a safety net for yourself [15:37] The importance of

With 2020 just around the corner, now is (hopefully) the time when you’re laying the groundwork for what you’re doing in the New Year. From mapping out your big business goals to figuring out where you want to travel in 2020, it’s an exciting time where you get to think about all the possibilities. Of course, we believe that the best way to plan for the future is by assessing the whole picture — even the not-so-fun stuff.  That is why we’re sharing a few things you should be aware of in 2020 in this episode. Our hope is that, by sharing what the New Year might bring, you can build some buffer into your plans and create a really strong strategy that helps you weather anything that comes your way. WHAT YOU’LL LEARN [01:30] How the global economy may affect your business in 2020 [02:03] Things you should be planning and preparing for next year [03:22] How small business was affected in the Great Recession of 2008 [05:41] Why every recession is different and why it’s unlikely to see another crisis [06:2

The Giving Season is upon us. Between Giving Tuesday, the Salvation Army Santas standing outside your favorite shops, and the influx of donation requests you’re getting in the mail, you’ve probably got giving on the brain. On this episode of Worth It, we’ll be talking about donations — including how you can make more impact with something called a “charitable giving policy.” WHAT YOU’LL LEARN [00:52] Why many people don’t think about planning their charitable giving [01:42] The role of the board of a nonprofit (hint: it’s to raise money) [02:20] How to streamline the giving process [03:20] How to choose nonprofits or causes for your charitable giving [04:18] What charitable giving means [07:15] Why the negative stereotypes of Millennials don’t apply when it comes to charity [09:24] The challenges biz owners and entrepreneurs face with planned giving [10:54] What you should feel about the charity/causes you support [11:35] How to align your giving to your personal and business values [12:13

For biz owners and entrepreneurs, you know it’s about more than just building a business for the money. You want to live the life you want, and use the skills and superpowers that are unique to you. And you want to make a difference, right? Well, today’s guest understands that, and works with female entrepreneurs to make sure they’re living over existing. Alisha Robertson is the creator of “Living Over Existing,” a podcast, a membership community, and a book all about reshaping what entrepreneurship looks like. Because she specializes in working with female entrepreneurs, note that this episode has more female-based language, but anyone can apply her advice to their life and work!  WHAT YOU’LL LEARN  [00:39] Who Alisha is and how she serves female entrepreneurs [07:39] Why Alisha doesn’t believe in “balance” [08:53] What happens when you try to give everything attention [10:29] How burnout is stopping you from leveling up [12:29] The power of just starting [13:06] The #1 concern most female entrep

We know that the title of this episode might not strike up the butterflies in your stomach or get you excited about life. But really, we’re talking about insurance because it. is. critical. We think that insurance is the most overlooked, undervalued, and denied aspect of your financial health. And yeah, it’s crazy boring. But you know what? It could save your

There are so many business owners and entrepreneurs who are #killingit out there today. But the majority of them started business after the 2008 financial crisis. In fact, some of them started their business after college, when normal jobs just weren’t available and they had to adapt. As a result, they have no idea what it’s like to own a business during a recession. They may have started at the onset of the recovery, but they’re not truly prepared for the effects of a recession. That’s why today’s episode is dedicated to asking the question: Is your business recession-proof? We’re not trying to scare you with this, but another recession is coming. WHAT YOU’LL LEARN [00:56] Why you need to prepare for a recession [02:47] The insights that financial advisors have into recessions [04:21] How Dustin + Danielle structure their business to be recession-proof [05:31] How technology parallels the impact of recessions [06:32] How recessions are like the tide [07:54] The risks of remaining ignorant of imp

If you don’t work a “traditional” job, one with an office and a salary, you’ve likely dealt with the challenges of variable income. Sometimes, entrepreneurs can barely pay themselves as they try to scale a new venture, while small biz owners are at the whim of seasons, customers, or contracts. Basically, you might not know what’s going into your bank account during a given month. And while that’s part of the thrill of the hustle, it can also be the downside of self-employment. We all want some stability in our lives, even if we want the freedom that comes with entrepreneurship. So how can you create security while also navigating the world of variable income? In this episode of Worth It, we share our stories and personal experiences with variable income, how we worked through it, and ways YOU can find more security and consistency with your business. WHAT YOU’LL LEARN [02:00] Dustin & Danielle’s history with inconsistent income in business and previous careers [04:35] How they combated slow months and

Amy Northard, CPA, has a passion for helping small business owners manage their finances and accounting so they can focus on growing their business. She also loves teaching accounting basics to online entrepreneurs who are just starting out. We were lucky enough to have her on this episode of Worth It, where we talk all about her CPA firm, what a CPA does, and when a creative biz owner (like yourself) might need to bring a CPA onboard. WHAT YOU’LL LEARN [01:48] Amy’s journey as a CPA [04:01] How Amy formed a niche making accounting easy for business owners to understand [06:05] Why finding experts who are “wired” for their work is so important [11:16] The nuances that come with serving entrepreneurs and business owners [13:17] Signs it might be time to hire a CPA [14:12] The difference between a bookkeeper and a CPA [15:33] What to look for in a CPA [18:28] The difference between a CPA and a CERTIFIED FINANCIAL PLANNER™ [22:11] Who Amy’s Be Your Own CFO course is right for [24:01] The bene