Welcome to Modern Wealth Management by Monon Wealth, where we tackle pertinent financial topics to help better position you and your business for success. Listen as Darrick Hutchens and Ray Kramer, Managing Partners of Monon Wealth Management, tap into four decades worth of experience in the financial sector and unpack their strategies for today's level of modern wealth management. So, sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.
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19 recent
September 18, 202438 min
Growing and Sustaining a Family Business with Joe Pohrer
On the latest episode of our podcast, Darrick welcomes Joe Pohrer, President of the Pauly Jail Building Company. Together, Darrick and Joe will delve into the impact Joe has brought to central Indiana. A long anticipated conversation, we welcome you to the show and hope you learn much from this knowledge packed episode. Chapters: 0:00 - Introduction and overview on the day's conversation 1:35 - Welcoming Joe Pohrer 3:00 - Joe Pohrer's Background 7:30 - Pauly Jail Construction Company at It's Core 12:10 - What's Next for Joe Pohrer 16:10 - R&D 21:30 - Taking Risk 26:10 - Make Clear Decisions 32:00 - Communication and Regular Face Time 34:10 - Control and Growth 36:10 - Closing Thoughts 36:50 - How to get in touch with Joe and Darrick Connect with Darrick: Website Facebook LinkedIn
July 25, 202449 min
The Evolution of Investing and State-of-the-Art Strategies
On the latest episode of our podcast, Darrick welcomes Dimensional Fund Advisor Vice President, Apollo Lupescu. Together, Darrick and Apollo will delve into the early ideas behind investing and how they evolved to become the state-of-the-art strategies of today. A long anticipated conversation, we welcome you to the show and hope you learn much from this knowledge packed episode. Chapters: 0:00 - Introduction and overview on the day's conversation 1:04 - Welcoming Apollo 2:00 - Apollo's Background 6:00 - Retail Investors vs. Dimensional Fund Advisors 8:35 - The Beginning of Stocks 12:00 - Stock Picking and Active Management 17:45 - Small Caps and Growth Potential 22:20 - The Advent of Advisors 25:00 - SMCI and the S&P 500 Index 29:00 - Small vs. Large Cap and U.S Market Trends 34:10 - The Japanese Stock Market in the 90's and Emerging Markets 37:00 - International Exposure 40:50 - International vs. Domestic Historically 43:55 - Decades Old Data and How It Guides Modern Investment 46:20 - Benefit vs. Risk and Price to Book 48:30 - How to get in touch with Darrick and his team Connect with Darrick: Website Facebook LinkedIn
June 10, 202458 min
How I Secure My Family's Success
On the latest episode of our podcast, Darrick opens up about the comprehensive financial plan he's built to ensure his family's long-term stability and prosperity. Darrick shares the inner-workings of the comprehensive financial plan he built to ensure his family's long-term stability and prosperity. Discover how he balances risk and maximizes growth through savvy investment strategies, secures his family's legacy with meticulous estate planning, optimizes tax efficiency, and incorporates meaningful charitable contributions. Whether you're looking to refine your own financial plan or a specific area of it, this episode is packed with valuable insights and actionable advice to help you secure your family's future. Chapters: 0:00 - Introduction and overview on the day's conversation 1:34 - Why Darrick wanted to allow the audience to 'peek behind the curtain' of his financial plan 3:10 - Wealth management is a formula 6:31 - Darrick's investment planning efforts 7:35 - Darrick's 'why' and the impact his children has on his financial world 11:17 - Cash flow strategy for accumulation 13:15 - Leveraging Flourish as a helpful tool to earn interest on cash 19:40 - "Invest within a program I can live with" 24:40 - Leveraging a strategy with real-world results through good and bad times 26:22 - Darrick's traditional investment partners 28:28 - How Darrick's financial world combats taxes 33:25 - Real estate investment opportunities and using them to lower his tax bill 36:53 - Wrapping your arms around your wealth using a thorough wealth protection plan 44:29 - Where to begin when addressing your estate plan 49:39 - Darrick's scary moment surrounding his older estate planning efforts 53:15 - Darrick's key takeaways 55:50 - How to get in touch with Darrick and his team 57:15 - Closing remarks Connect with Darrick: Website Facebook LinkedIn
March 26, 202428 min
Vote For Your Ballot, Not Your Life Savings
As we draw closer and closer to another Presidential election in 2024, many investors are wondering how their portfolio will perform based on who is ultimately elected President of the United States. And throughout history, investors often make investment mistakes because of their perception of the election results. On the latest episode of Modern Wealth Management, Darrick analyzes the market's patterns during election years, as well as whether a Republican or Democrat are in office. This episode is packed with helpful takeaways for your own financial world. Enjoy! Chapters: 0:00 - Introduction and overview on the topic of the day 1:03 - Elections cause stress and anxiety among many investors 4:03 - The three key conversation points of today's episode 5:44 - Looking back at the market's performance throughout the many election years 8:02 - How the market responds based on which President was in the office 13:40 - George W. Bush's presidency and why returns were down during his time in office 16:04 - Stock pricing is made up of a multitude of factors 20:04 - Two different client stories that arrived at the same result 24:22 - "This is the most important election" 26:42 - How to get in touch with Darrick and his team 27:53 - Closing remarks Connect with Darrick: Website Facebook LinkedIn
February 13, 202433 min
The Most Important Considerations for Passing on Your Family Business
The reality of the situation is that most business owners aren't adequately prepared for passing on their business and executing a well-designed succession plan. Oftentimes, these efforts and conversations are happening too late. On the latest episode of Modern Wealth Management, Darrick covers the most important considerations that business owners should be thinking about when it comes to their succession plan. Ultimately, the balance of benefitting you, the business owner, and your family, can be achieved. It just takes proper planning. Chapters: 0:00 - Introduction and overview on the topic 1:08 - Many entrepreneurs will encounter the need for succession planning 3:00 - The four big considerations for successful succession planning 6:04 - Addressing your goals for the business when you're no longer in charge 9:56 - The financial succession plan 13:31 - Statistics showcasing the impact of proper succession planning 16:24 - An overview on the operational succession plan 19:47 - Incorporating flexibility and transparency in your succession plan 23:09 - The story of family farms not properly preparing their succession efforts 26:38 - A story on the success that can happen when proper succession planning is in effect 29:22 - The key takeaways from today's episode 30:46 - How to get in touch with Darrick and his team 32:37 - Closing remarks Connect with Darrick and Ray: Website Facebook LinkedIn
January 23, 202446 min
Grow Your Money in 2024 and Beyond!
Welcome back to Modern Wealth Management! We're excited to kickoff Season Two of our show, where we'll explore the various sectors of wealth management, as well as community conversations and personal development topics. To launch our second season of the show, we're diving into the overall importance of establishing, and sticking to, an investment strategy. Join Darrick Hutchens, Co-Founder of Monon Wealth Management, as he shares some key insights into investment management and offers strategies for growing your money in 2024 and beyond! Sit back, relax and enjoy the launch of our all-new season of Modern Wealth Management! Chapters: 0:00 - Welcome back to Season Two! 1:12 - Designing an investment portfolio for 2024 and beyond 2:27 - Why thorough discussions on your investment portfolio is so important 6:31 - You can't bend with the ebbs and flows of the market 8:27 - The three things you need to consider with regard to growing your money in 2024 9:44 - Develop and understand your long-term investment objectives 12:33 - Time reduces risk 16:38 - Building your asset allocation plan 20:22 - The idea of a 60/40 portfolio and comparing stocks vs. bonds 25:43 - Considering foreign markets for your investment plan 29:30 - Picking the specific securities you're interested in 32:27 - Staying invested over a long period of time 34:20 - Investor behaviors in response to the technology sector in the 90's 39:38 - Warren Buffet's approach 42:50 - The key takeaways from today's episode 44:50 - How to get in touch with Darrick and his team 46:02 - Closing remarks Connect with Darrick and Ray: Website Facebook LinkedIn
June 3, 202233 min
The Seduction of Pessimism
Optimism is typically the best bet for most people because their lives tend to get better, for most people, most of the time. But pessimism seems to hold a special place within our hearts because it sounds smarter and it's more intellectually captivating. On the latest installment of Modern Wealth Management, Darrick sits down to discuss the differences between these two concepts and how they've crept not only into our personal lives, but our financial lives as well. Listen, as we explore the fickle friend that is pessimism and how it's playing a role in our financial decision making these days. This episode is packed with beneficial information and takeaways that you don't want to miss. Enjoy! Timecodes: 0:06 - Introduction and overview on the topic of the day 1:25 - "The Psychology of Money" by Morgan Housel 2:30 - How pessimism creeps into our lives 11:58 - Where pessimism comes into play within our financial well-being 15:07 - How education and qualification can play a role within optimistic and pessimistic mindsets 19:00 - Pessimism examines present trends without factoring in the future 26:12 - Stephen Hawking's rationale on why we become so pessimistic 30:37 - How you can get in touch with Darrick and his team to take advantage of optimistic wealth planning 32:09 - Closing remarks Connect with Darrick and Ray: Website Facebook LinkedIn
March 28, 202245 min
Five Critical Wealth Planning Mistakes of Successful Family Businesses
Running a successful family business takes a tremendous amount of both working hard and working smart, as well as navigating family dynamics along the way! On the latest installment of Modern Wealth Management, Darrick explores some of the key mistakes that too many successful family businesses make and how to best avoid them. Given Darrick's extensive experience working with family businesses over the last two decades, he has plenty of stories to share! Sit back, relax, and enjoy another thought-provoking episode that's bound to leave you with some considerations for your own family business. Timecodes: 0:06 - Introduction and overview on the topic of the day 1:15 - The overall need for wealth planning within a family business 6:18 - The risks that arise within family businesses 7:31 - What family businesses should be looking for in their wealth manager 11:56 - Pick out a wealth manager that isn't product-oriented 15:37 - How Darrick's clients react to his wealth planning process 17:05 - The mistake of hyper-focusing on mitigating taxes 22:35 - Don't be secretive about your wealth 29:40 - The importance of ongoing maintenance with your wealth plan 32:20 - What a family should do if their wealth plan is out of date 35:51 - You don't need to view the sale of the family business as a failure 42:04 - How you can get in touch with Darrick and his team for further discussions 44:02 - Closing remarks Connect with Darrick and Ray: Website Facebook LinkedIn
March 2, 202251 min
Mental Toughness Within Wealth Management
In the latest installment of Modern Wealth Management, we welcome Dr. Rob Bell, Author and Mental Toughness Coach, to the show to discuss how mental toughness can play a vital role within wealth management overall. Listen, as Darrick and Dr. Rob share details on their personal and professional relationship, which led Darrick to understand the importance of having emotional strength in the face of adversity. This episode is packed with helpful information that's universally applicable to us all. You're not going to want to miss this one! So sit back, relax, and enjoy a thought-provoking episode! Timecodes: 0:06 - Introduction and overview on today's guest 0:56 - Darrick's personal relationship with Dr. Rob Bell 5:51 - Dr. Rob stresses the importance of teachable moments in our lives 9:42 - Where mental toughness has its place within the lives of non-athletes 13:03 - "Process versus outcome" 17:48 - We shouldn't be deviating from our processes 22:40 - Know what game you're playing 23:22 - People have been damaged by the pandemic 28:37 - How you can refill your tank 31:50 - Is it possible to come out of the pandemic stronger? 37:00 - Running from market volatility is counterintuitive 39:24 - "We don't have to be smarter than the rest. We have to be more disciplined than the rest." 43:00 - With Russia's invasion into the Ukraine, it's not the time to take action in your portfolio 46:11 - What does "ice in your veins" mean and how do you develop that toughness? 49:19 - How to find Dr. Rob Bell online and connect with him 49:52 - Closing remarks Connect with Dr. Rob Bell: Website Connect with Darrick and Ray: Website Facebook LinkedIn
February 1, 202225 min
Entrepreneurs: Here's Why You Need an Estate Plan!
If you are like many business owners, you’re looking out for more than just the financial health of your company. You also want to take care of your family and loved ones by providing for them and setting them up for rewarding lives of their own. In the latest installment of Modern Wealth Management, Darrick and Ryan are exploring how proactive estate planning can help you pursue these goals and build an amazing life of significance. Too often estate plans can become outdated. Listen as we showcase the steps you can take to ensure your plan is current and capable of supporting you and your goals. Timecodes: 0:07 - Introduction and overview on the topic of the day 2:27 - The roll of estate planning in the life of an entrepreneur 4:52 - Most people have a plan in place, but the plan is really outdated 8:19 - The downfalls of having an outdated estate plan 10:38 - An example of how an outdated plan can put an entrepreneur in jeopardy 15:02 - The first steps into updating your estate plan overall 17:48 - The initial conversation when reviewing someone's existing estate plan 20:46 - What should someone be on the lookout for when updating their estate plan 22:40 - How you can get in touch with the team at Monon Wealth Management for more information 24:06 - Closing remarks Connect with Darrick and Ray: Website Facebook LinkedIn
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