Worth It

Hello, loyal listeners! We wanted to let you know that we have a quick update on the podcast and a few things that are happening over at Toujours Planning right now. As you may know, we are a Lake Charles-based business and family, and our community, homes, and offices were devastated by Hurricane Laura in August. While we work to rebuild our community and also weather other storms that have come through the area, we are taking a break from the Wealth by Design podcast. We do not know how long it will take to return to “normal,” whatever that means. In the meantime, we ask that willing listeners of the podcast donate to Lake Charles and Louisiana recovery efforts. We are personally supporting the Community Foundation of Southwest Louisiana, an organization that has helped care for people who’ve lost their homes and livelihoods, as well as get our community up and running again. If you are able and interested, please donate here: https://www.foundationswla.org/ In the meantime, we thank you for being a listene

When you decide to get your financial ducks in a row, you probably start to look for help with a good old Google search. But when you look up “financial advisor,” “financial planner,” “planning for retirement” or any variation of your financial needs… you might get confused. Quickly. Why? Because there are so many titles for financial professionals out there. Do you need a financial planner? A financial advisor? An investment professional? A money coach? And what are those initials after their names?! In this minisode, Dustin briefly describes the different types of financial professionals and designations you may see and explains when you’ll want to call a CERTIFIED FINANCIAL PLANNER™ professional. WHAT YOU’LL LEARN The different titles of financial professionals The designations and licenses that financial advisors may have What a CERTIFIED FINANCIAL PLANNER™ professional does How a CFP® can help you The three Es of the CERTIFIED FINANCIAL PLANNER™ designation Watch this week’s episode: https://youtu.be/3

Sir John Templeton, an American-born British investor, banker, fund manager, and philanthropist, said this on investing: “Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.” He was named “the greatest global stock picker of the century” by Money in the 1990s, so we’re inclined to listen to his advice.  In this new minisode, Dustin breaks down each part of Sir Templeton’s quote. He also discusses timing the stock market, why it’s a bad idea, and what you should do instead.  WHAT YOU’LL LEARN The “stock market trap” How fear clouds our judgment ...and greed affects it, too Pick a strategy and stick with it for awhile This material is for general information only and is not intended to provide specific advice or recommendations for any individual. RESOURCES & PEOPLE MENTIONED   More on fear and greed in investing in Episode 104 More on timing the market in Episode 107 Check out our new program, Wealth by Design™ DIY! Join the Know Your Numbers challenge Sc

We’ll keep the intrigue to a minimum. In our opinion, the answer to this question is a resounding yes.  Whether you’ve just gotten married (congrats!) or you’re in a committed, long-term relationship, it may be a good idea to have a joint account with your partner. Sharing your finances with your partner builds trust. Keeping them separate can breed suspicion and worry; plus, separate accounts keep your partner out of the loop on your day-to-day spending and savings habits. Why do partners keep separate accounts? It may be a leftover habit from when you were dating. Or, you may have seen your parents control their accounts separately and assume that’s the best, or only, option.   The good news is, there’s still time to change things if you’re considering opening a joint account. Tune in to the full minisode for all the deets from Dustin! It’s only a few minutes, so you have no excuse to not tune in... WHAT YOU’LL LEARN Reasons why people might keep separate accounts Community property laws The importance of

In March of 2020, we saw the stock market tumble 30% in one month. In the following few months, we’ve gained most of that back. What is happening?? In this minisode (seriously, it’s less than three minutes!), Dustin recaps what a stock actually is — in case you’ve forgotten amidst all the panicked COVID-19 stock market talk — and how stocks are bought and sold. He discusses how people’s emotions cause those peaks and valleys in the stock market, and how you can avoid that dangerous herd mentality when it comes to your own investing. WHAT YOU’LL LEARN What a stock is The basics of buying and selling stocks How fear and greed cause swings in the market  Dustin’s secret to investing This material is for general information only and is not intended to provide specific advice or recommendations for any individual. RESOURCES & PEOPLE MENTIONED   Dustin shares more stock market basics in Episode 7! More on fear, greed, and herd mentality in Episode 10 Check out our DIY Financial Planning Course Sign up for

Katell and Jon, a husband and wife design team, are founders of Reverielane, a purpose-driven brand and web design firm. Katell’s experiences living in The Ivory Coast in Africa and France have honed her keen eye for design. Paired with her entrepreneurial drive, as well as Jon’s technical skills and creative spirit, led to the growth of Reverielane.  We were so excited to talk to Katell and Jon about Reverielane, their thoughts on investing and building wealth, and their long-term goals for their business and personal lives. WHAT YOU’LL LEARN [02:00] How and why Katell started Reverielane [05:14] What “living life on your own terms” means to Jon and Katell [08:39] What it means to build wealth [11:00] Investing and growing assets [13:54] Jon and Katell’s investment goals [17:09] Our guests’ thoughts on debt [18:48] Preparing for the unknown [20:49] Long-term goals for Reverielane [28:11] Jon and Katell’s underlying passions outside of the business Reverielane’s origin story Katell moved to the United State

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 The first of our Nine Commandments What is your net worth? Debt vs. assets: which should you focus on more? How we got inspiration for this episode Why the Dave Ramsey way of looking at debt is problematic The types of assets you need Where did Millennial “fear of debt” come from? How to change your debt-fearing mindset Steps to building a positive net worth A couple of analogie

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 Dustin’s concerns about robo-advisors earlier in his career Why they’re not a threat to the financial planning industry What robo-advisors are  Why it’s not a question of which to use, but when to use each The questions that may come up around using a robo-advisor The major downside to robo-advisors (hint: it’s about customer service) The limiting beliefs that come when people consider hiring a financial advisor The biggest question clients have about a

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

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 Why the punch clock is the enemy   The irony of making your own hours as a business owner  Living in the age of distraction  Why so many professionals start their own business How financial planning can help you defeat the punch clock The hustle and grind of being a business owner What “revivement” is How your passions can guide your work The important business strategy people aren’t talking about How to start building a safety net for yourself The importance of having a financial life plan What a “BULB” is — in case you haven’t been following us fo

How has your life changed in 2020? We’re not talking about how you’re learning how to bake bread, choosing Zoom backgrounds for your virtual meetings, or watching way too much Netflix.  We’re talking about how the intangible stuff has changed. Your values. Your priorities. Your life goals. Maybe you’re realizing that you want to make more time to spend with family. You might find that you want to pursue hobbies that make you happy. Or maybe you’ve realized you need to make lifestyle changes now in order to make your dreams come to life in the future. If the pandemic hasn’t pushed you to at least think about what’s important to you… well, we’re calling you to think about it now. In this episode of Wealth by Design, we’re also helping you figure out what’s important to you so you can start living your most ideal life. WHAT YOU’LL LEARN [01:01] How our lives (and priorities) have shifted lately [07:09] The importance of having a vision for your life [10:01] Ask yourself this question to start figuring out your

Answer us this: which person needs estate planning the most?  A) Someone with two kidsB) Someone with a small business of their ownC) Someone who has property and possessions to pass onD) All of the above If you answered D, ding ding ding! You win. Say the term “estate planning” and people assume it’s only meant for people with kids, or that it’s used to pass on wealth and possessions. But it’s much more than that, and we know that everyone benefits from an estate plan. We talk about why in our latest podcast episode. WHAT YOU’LL LEARN  What estate planning usually includes Why most people avoid estate planning What happens when you don’t have an estate plan Basic estate planning documents you need A few things you may not have considered for your will The future of your business Think about life insurance Details to remember in your estate plan Where does your stuff go? Your estate is made up of all your possessions. Your home, your car, bank accounts, investments you’ve made, that yacht you use once in a

How many times have you heard “Save for an emergency!” and “Save for retirement!” We’re not saying those aren’t super important things to save for… but what about the rest of your life? Things like buying a house some day, or having kids. Taking that 6-month sabbatical. Buying out your business partner. Starting another business. You don’t just have the cash sitting around for that, do you?? Probably not, which is why you need a savings goal for them, too. We know you might want to save for all of the above, or maybe for your own special thing, but popular saving advice doesn’t really tell how to get there. So we have a tip: fill your intermediate bucket. WHAT YOU’LL LEARN The “complete” bucket strategy How the financial planning industry is guilty of neglecting the intermediate bucket, too What you might want to spend your intermediate bucket on The questions you should be asking about your intermediate goals Why you shouldn’t focus on just short-term and long-term buckets What you can do right now to start

Where do you get your financial advice? (Aside from us and the Wealth by Design podcast, of course.

Welcome to another minisode! This week, Danielle shares some quick tips and stories about the stock market, the 2007-2009 financial crisis, and the best kind of investment strategy you can use, pandemic or no pandemic. Look, we get it. It’s terrible when someone loses everything in a recession or stock market downturn. And you’re probably thinking about this stuff more frequently right now thanks to the coronavirus. However, you’ve gotta remember the other side to those horror stories: the people who lost everything probably bailed at the bottom of the market. That means they didn’t have anything invested when it skyrocketed to all-new heights. In this minisode, Danielle debunks the idea that everyone “lost it all” in the Great Recession, and what’s really going on when someone warns you away from investing. WHAT YOU’LL LEARN The other side of “losing it all” in the stock market What really happened in the 2009 crisis The best kind of investment strategy What a trusted advisor can do for you This material i

Do you know your numbers? We’re not talking about your numbers like how much you have in your checking account, or age and weight (which we shouldn’t be asking about anyway!). By “numbers,” we mean the three numbers that can help you ride out this COVID-19 crisis… or any big unexpected life change that comes your way. We’re talking about: How much money you really need to make Your emergency fund number Your BULB threshold In our latest Wealth by Design episode, we talk about calculating those three numbers and how you can actually reach them. WHAT YOU’LL LEARN [00:31] Why you need to “know your numbers” [03:45] The questions we’re all asking ourselves right now [06:09] How you know you’re financially secure   [06:58] Getting your finances (and mindset) in order  [10:04] What is your income need? [10:53] How to calculate your true income need number [11:35] Calculating your emergency fund number and BULB number [12:51] A quick note about reaching BULB status [14:35] How to get to those three numbers [17:07

As of right now, things are looking pretty bad thanks to COVID-19. And as Dustin says in our latest minisode, things will probably get much worse. We’re not trying to scare you — we don’t need any more sources spreading fear, right? But we say this so you can prepare yourself for what’s going to happen. Preparing yourself is especially important if you’re a business owner.  The reality is, many businesses will fail. If yours doesn’t, the landscape is still gonna look very different after the coronavirus pandemic eases up. That’s why you need to be prepared for the worst and ready to face the challenges to come. So, in our latest COVID-19 Crisis Series, Dustin shares three actionable tips you can take to protect your biz, your finances, and your family. Check it out.  WHAT YOU’LL LEARN A quick pep talk for business owners Why you need liquidity right now “The Credit Paradox” Adapt to survive Streamline your investments and diversify your assets   This material is for general information only and is not inten

Dollar-cost averaging. It’s probably the most boring financial term ever. (We’re working on coming up with a new term. Anyone have any ideas? Anyone?) Snooze-inducing as it sounds, dollar-cost averaging is a super important technique that everyone should be using to invest. Why? Read on. WHAT YOU’LL LEARN [01:55] What dollar-cost averaging means [03:30] Why timing the market doesn’t work [04:24] The key to investing: don’t think about it [05:20] Some musings on stock market fear [08:14] Bring on the volatility! [09:34] Start low and stick to it Timing the market doesn’t work Brace yourself: we get topical in this episode. How could we not? Unless you’ve been living under a rock, you’ve probably been bombarded with minute-by-minute updates on COVID-19, aka coronavirus. Warnings against travel. The number of cases in the United States and worldwide. The number of deaths from coronavirus. And its impact on the stock market. There’s nothing wrong with staying up-to-date on important news — and we’re huge

Thanks to the continuing COVID-19 crisis, you’re probably hearing “the D-word” thrown around a lot. Yes, that big, scary D-word. “Depression.”  News outlets and public figures are warning us that we’re heading for a depression that rivals the Great one. Other news outlets and public figures are assuring us that it’s not all bad; you won’t get another opportunity in your lifetime to invest like you will now. So, who’s right? What should you do with your retirement accounts? Who do you listen to? (Us, of course.) If you’re looking for advice on handling your retirement accounts, Dustin breaks it down in our latest minisode. WHAT YOU’LL LEARN The one thing you need to ask yourself A rule of thumb for your retirement accounts Why you should stick to your strategy The number one secret to investing What to do if you don’t have a strategy Watch the video here: https://www.youtube.com/watch?v=KGF0Q1Yff3M This material is for general information only and is not intended to provide specific advice or recommendations

As part of our COVID-19 Crisis Series, we’re covering what you need to know about market uncertainty and your money during these unprecedented times. In our newest minisode, we talk about the most important thing you need to keep in mind during this crisis: liquidity.  Liquid assets are assets that you can easily sell or buy without affecting the asset’s price. The value of illiquid assets, like real estate, can fluctuate or decrease. During a crisis, you need liquid assets to protect yourself for what’s happening and what’s to come. As Danielle says in this minisode, we don’t know how long this is gonna last or how bad it’s gonna get. Having liquidity — cash on hand — can support you through a crisis. So, how can you get liquid assets right now and in the future? Spoiler alert: it doesn’t necessarily mean it’s time to make a run on the banks.  Instead, listen to these tips on how to infuse a little extra cash into your life (without risking your future potential wealth).  WHAT YOU’LL LEARN Dustin’s experien