EP: 160 - Estate Planning Basics and Who Needs One w/ Guest Chris Hornbaker

Listen to the first episode in a three part-series with special guest, Christopher Hornbaker. Christopher is an attorney at Colorado-based Davis Schilken, PC Law Offices, helping families navigate the often-complex estate planning process. In this episode, host Austyn Garcia interviews Christopher about the basics of estate planning and who needs an estate plan (Will, POAs, etc.)

Learn more about Christopher Hornbaker and Davis Schilken, PC at www.dslawcolorado.com.

Schedule a free consultation with Denver Wealth Management, Inc. at www.denverwealth.com.

EP: 159 - September Investment Insights

Advisors and co-hosts Zachary Bouck, CIMA, CFP, and Austyn Garcia, recap our September 2024 portfolio meeting, discussing what happened in the markets over the last month, our approach to traditional asset allocation (cash, fixed-income, equities, and alternatives), and our general outlook for the next 6-12 months in the markets.

Visit www.denverwealthmanagement.com to schedule a free consultation.

Thoughts on Hiring Different Types of Financial Advisors

There are two types of financial advisors – those who seek to help you accumulate assets and those who seek to help you maintain your wealth.

The difference between the two is stark, but you may need two types of advisors during your wealth journey.

The first type of advisor has a tough job. They spend a lot of their time convincing their clients to do things in their best financial interest. In a sense, they are convincing investors who may not be very experienced to make choices that put you in an uncomfortable place today for a future benefit. Examples of these types of advisors may talk to you about things like:

Control spending

Take advantage of tax-advantaged accounts

Buy basic types of insurance

Buy things that appreciate in value

Don’t keep tons of depreciating currency because it feels safe

Buying compounding investments

The second type of advisor has a more executive job. They spend most of their time doing things for clients, not convincing them to do things:

Setting up tax-advantaged accounts

Investing in high-reward companies

Changing investments as the world changes

Buying real estate

Facilitating transactions

Advisor type number one is either young in their career or works for an insurance company and is forced to dig people out of society to convince them to become capitalists. Advisor type number two works for an established firm, helping wealthy people take advantage of opportunities and avoid catastrophic mistakes.

Most financially successful people don’t need to be convinced to stay invested and take advantage of opportunities. They just need someone to help look through opportunities and take advantage when the time is right.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

All investing involves risk including loss of principal. No strategy assures success or protects against loss.