Advance Your Wealth With Homer Smith

On the latest episode of Advance Your Wealth, we dive into the market’s reaction to the recent election results, exploring whether the response was in line with expectations or presented surprises. We discuss the reduced pre-election volatility, the modest post-election market increases, and what this might signal for future trends.Our conversation delves into the anticipated economic and policy changes under a Trump administration with a Republican-controlled Congress. Key topics include:Extensions to Trump-era tax reforms, including the 199A Qualified Business Income Deduction and corporate tax rates.Potential adjustments to estate tax exemptions and their implications for wealth management.The future of Opportunity Zones and how they might evolve.The administration’s strategy for funding tax cuts, including proposed tariffs and their potential economic impacts.We close by addressing how to navigate these complex changes. Our guest, Homer, shares strategies for cutting through the noise and helping clients make informed decisions during major transitions.Chapters:0:00 - Introduction1:53 - The stock market's response4:11 - Notable tax law changes9:21 - Estate tax exemptions 11:50 - Trump's plan to pay for tax cuts15:21 - Dealing with uncertainty18:00 - How to contact Homer and his team18:54 - Closing remarks

Many families have plans to pass along some of their wealth to children and grandchildren. But what about passing on financial values, a sense of purpose and possibility, and other family legacy concerns? On the latest episode of Advance Your Wealth, we’re taking a look at how legacy planning can potentially help both the people transferring their wealth and the people receiving it.Chapters:0:00 - Introduction and overview on the topic of the day1:06 - Estate planning and wealth planning conversations don't go far enough2:56 - What can we learn from the ultra-wealthy families out there?4:15 - Addressing the tension created in these moments5:52 - Steps to instill values before transferring wealth7:09 - The importance of discussing wealth a lot over time9:11 - Advice on getting these important conversations started11:29 - Steps you can take to begin discussing values and living them14:17 - What if you have a very large family? 17:41 - How to get in touch with Homer's team18:37 - Closing remarks

In this episode of Advance Your Wealth, Homer Smith sits down with financial expert Guy Ridout to discuss "The Costly Threats and Untapped Opportunities of Managing Your Company's 401k." Together, they explore the often-overlooked challenges and risks businesses face when managing 401k plans, including hidden fees, regulatory pitfalls, and fiduciary responsibilities. But it’s not all about the threats—Guy also shares valuable insights into the untapped opportunities that can benefit both employers and employees, from improving plan performance to boosting employee retention.Whether you're a business owner, executive, or plan administrator, this episode provides essential knowledge on how to protect your company's 401k from costly mistakes and maximize its potential for long-term success. Tune in to learn how proactive 401k management can be a powerful tool for your business and your employees' financial futures.Chapters:0:00 - Introduction and overview on the topic of the day2:59 - Identifying Threats in 401K Planning5:48 - Compliance Challenges in 401K Plans8:50 - Employee Perception and Engagement with 401K Plans11:57 - Unlocking Opportunities15:00 - The Role of Financial Advisors in 401K Management17:50 - Real World Applications and Success Stories21:05 - Closing remarksConnect with Homer Smith:FacebookLinkedInWebsite

Today Homer breaks down the differences and benefits of Single Family and MultiFamily Offices. Both have their strengths and depending on your families circumstances, one may behoove you more than the other. No one family is the same. To figure out which category yours may fit in best, join us on today's episode of "Advance Your Wealth."Chapters:0:00 - Introduction and overview on the topic of the day1:55 - The Single Family Office3:10 - The Multi-Family Office7:00 - Key Differences9:00 - Multi-Generational Planning10:10 - Virtual Family Office12:10 - Common Needs of Family Office Clients13:00 - Benefits of Multi-Family Offices 14:00 - How to Connect with Homer Smith14:35 - Closing remarksConnect with Homer Smith:FacebookLinkedInWebsite

Today Homer examines the fundamental aspects that may make up your best financial life. The qualities you can develop in order to best live a life of significance and happiness. Easier said than done, that's clear. However, knowing where these aspects show up in your life will lead to better being able to act in accordance with your best life and the values that make it possible.This and more on today's episode of "Advance Your Wealth."Chapters:0:00 - Introduction and overview on the topic of the day3:22 - Success vs. Significance4:20 - What's Your Number? Why?5:10 - Significance Based on Generation6:40 - The Millennial Generation7:00 - Wealth Thresholds and Value Creep8:50 - Transitioning Values10:30 - Getting Clarity on Success12:00 - Recognize Where You Are14:20 - Discovery and Rediscovery to Significance17:25 - How to Connect with Homer Smith18:25 - Closing remarksConnect with Homer Smith:FacebookLinkedInWebsite

Today we are joined by Melissa Smith, CEO and founder of Family Brand Podcast. Melissa works with parent's on how to transform their family cultures, create relationships that last, and intentionally grow their families together. How does the family correlate with business success? This and more on today's episode of "Advance Your Wealth."Chapters:0:00 - Introduction and overview on the topic of the day2:12 - What is a Family Brand?3:30 - Family Doesn't Happen By Default.5:50 - How Melissa Works With Family.8:40 - The Idea of And.13:15 - Family Brand Across Time.15:10 - Melissa's Personal Examples In The Process17:30 - Empty Nester's Experience with Family Branding20:40 - How to Connect with Melissa Smith21:45 - Closing remarksConnect with Homer Smith:FacebookLinkedInWebsite

Today we are joined by Chad Jenkins, CEO and founder of SeedSpark. Seeking exponential growth is difficult for most entrepreneurs. Many times, business owners may get laser focused on the wrong areas which could lead to missing out on great opportunities. Chad and Homer break down ways to remove the film over your eyes and see opportunities clearly.This and more on today's episode of "Advance Your Wealth."Chapters:0:00 - Introduction and overview on the topic of the day2:10 - Collaboration vs. Competition5:40 - Chad's Hero Target and Creating Value9:20 - The Benefit of Outside Perspective12:50 - Levels of Friction17:15 - New Rate Plans Example and Innovation Solutions20:00 - Leveraging The Market25:30 - Common Components Business are Missing34:10 - How to Connect with Chad Jenkins35:15 - How to Connect with Homer Smith35:30 - Closing remarksConnect with Homer Smith:FacebookLinkedInWebsite

Often times, preparation and thorough planning is seen as the safeguard to a successful business. However, there comes a point where the plan can become stale and out-of-date. Many business owners and entrepreneurs may want to update their business plan but don't know what to look for in terms of weak points. That's where Homer comes in with this episode of Advance Your Wealth.Join us today to learn how to stress test your business plan and better prepare for the unknown future.Chapters:0:00 - Introduction and overview on the topic of the day1:40 - Homer Smith on Stress Testing2:50 - What Does a Good Stress Test Look Like4:40 - Who is Qualified for Stress Testing6:30 - Areas to Focus on in Your Planning Check-up10:05 - Selling Your Business and Exit Planning 17:05 - When to Go Through a Stress Testing Process19:10 - Getting the Outcome That You Want19:45 - How to connect with Homer Smith20:00 - Closing remarksConnect with Homer Smith:FacebookLinkedInWebsite

In a world often dominated by limitations and barriers, it's time to shift our focus towards what's possible. Join us in this illuminating episode as we delve into the realm of possibility with our esteemed guest, Chris Smith, Founder of The PSBLTY Co. Chris brings a wealth of experience working with successful entrepreneurs and business owners, helping them navigate through challenges and unlock the full potential of their lives.In this conversation, we'll explore why it's crucial to prioritize possibility over limitations and how this mindset can revolutionize our approach to life and business. From reframing setbacks as opportunities to embracing uncertainty with open arms, Chris shares invaluable insights and strategies to inspire listeners to dream bigger and reach higher.Chapters:0:00 - Introduction and overview on the topic of the day1:23 - Homer working closely with Chris and his team over the years3:18 - Possibility versus limitation6:50 - Over-focusing on what's not working in your life and business10:49 - "I don't matter. I'm not enough. I'm not worthy."15:09 - A story from Chris helping to coach a high school basketball team18:39 - Recognizing the importance of positive reinforcement and speaking possibility into people24:35 - You matter, you're worthy, and you belong!27:24 - How to connect with Chris Smith online27:53 - Closing remarksConnect with Homer Smith:FacebookLinkedInWebsite

If you’re an entrepreneur, do you know what your business is really worth? It turns out, you might be surprised to discover its true value. On the latest episode of Advance Your Wealth, we examine the importance of valuing a business, why it makes sense (even if you’re not planning to sell), and how you might set out to get a proper valuation done.Chapters:0:00 - Introduction and overview on the topic of the day1:30 - Very few business owners are ultimately satisfied following the sale of their business4:40 - Entrepreneurs should be aware of their business' value over the course of time6:06 - Business owners are often surprised by the results of a true valuation process8:36 - Advice for getting this process started11:10 - The key issues that arise when a business valuation process is conducted15:41 - What business owners should be considering today17:39 - Business owners need to take time to work on the business, rather than in the business19:03 - How to get in touch with Homer and his team21:09 - Closing remarksConnect with Homer Smith:FacebookLinkedInWebsite