Tag: Financial Planning
Is Life Insurance Right for You? (Ep. 20)

Is Life Insurance Right for You? (Ep. 20)

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What happens when life insurance becomes less of a chore and more of a strategic benefit?

In this episode, Aaron Buchner takes the mystery and confusion out of life insurance. If you’ve ever wondered if life insurance is a must-have or a misused financial tool, this episode is a must-listen. Aaron tackles common misconceptions and explores who truly benefits from having a policy.

Aaron discusses: 

  • (02:23) The essential criteria for determining who needs life insurance
  • (04:53) Common types of insurance and when each is appropriate
  • (11:57) Missteps to avoid when purchasing policies, and how to amend them
  • (17:10) The role of permanent insurance in long-term planning
  • And more

Tune in and make your journey through the world of life insurance as prick-free as possible.

Connect with Aaron Buchner: 

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The Benefits of Critical Illness Insurance (Ep. 17)

The Benefits of Critical Illness Insurance (Ep. 17)

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Why should you consider critical illness insurance as a part of your financial strategy? 

In this episode, Aaron Buchner tackles the often-overlooked topic of critical illness insurance. He explains why this form of insurance is not just an ‘extra’ but a crucial part of securing your financial future. His discussion explores the impact of unexpected medical expenses, especially for Canadians who believe healthcare is entirely covered.

Aaron discusses: 

  • (02:32) Why Canadian healthcare isn’t entirely “free”
  • (04:22) What critical illness insurance actually covers
  • (08:01) The financial impact of using retirement savings to cover medical expenses
  • (09:48) Comparing investing versus insurance costs for peace of mind
  • (18:53) Balancing financial planning with current lifestyle needs
  • And more

Tune in to find out how planning for the unexpected can keep you on track toward your dream retirement without compromising your enjoyment of the present.

Resources:

Connect with Aaron Buchner: 

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How Much Are You Paying? Ft. Mark Hansen (Ep. 16)

How Much Are You Paying? Ft. Mark Hansen (Ep. 16)

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Ever wondered how much you’re really paying for financial advice and whether it’s worth it? Dive into this episode as we discuss two key ways advisors get paid and how they shape your financial journey.

In this episode, Aaron Buchner sits down with Mark Hansen, Financial Advisor, Second Comma, to break down the differences between Assets Under Management (AUM) versus Fee-Only planning. They’re not here to proclaim a ‘one size fits all’ solution but to explore how different payment structures can help you meet your goals. Along the way, they share insights on the importance of transparency, the impact of digital transformation on financial planning, and why connecting with the right financial advisor is about much more than just numbers.

Aaron and Mark discuss: 

  • (02:52) Differences between AUM and Fee-Only Models
  • (06:50) Importance of transparency in financial planning
  • (11:19) What you’re actually getting for the money you spending
  • (19:22) Why an advisor’s personality matters
  • (24:52) Should you choose an advisor based on fee structure alone?
  • And more

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About our Guest: 

Mark Hansen is the founder of Second Comma, a financial advisory firm based in the United States. As a seasoned financial advisor, Mark specializes in guiding individuals and families who are a few decades away from retirement, typically in their 30s and 40s. His expertise lies in helping younger generations who are beginning to see their wealth accumulate, time constraints grow, and financial responsibilities expand.

Mark is passionate about creating personalized strategies that enable his clients to navigate their journey to retirement confidently and on their preferred timelines. With a commitment to clarity and long-term planning, he empowers families to align their financial goals with their life ambitions.

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Don’t Plant Your Finances in Concrete (Ep. 12)

Don’t Plant Your Finances in Concrete (Ep. 12)

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Ever wondered if your financial goals are stuck in a rut, like a cactus trying to grow through concrete?

In this episode, Aaron Buchner dives into the art of prioritizing financial goals and why a solid foundation is critical for success. Through relatable anecdotes and a bit of chaos humor, he highlights the importance of a well-thought-out financial plan, avoiding the trap of ‘mindlessly saving’, and how writing your goals down can change your financial trajectory.

Aaron discusses: 

  • (02:47) Setting financial goals with purpose
  • (05:47) Separating and prioritizing savings for different objectives
  • (15:54) The significance of making vivid financial visions
  • (23:50) Creating unique financial plans for a balanced life enjoyment
  • And more

Feeling ready to make your financial journey less prickly? Tune in and enjoy some laughter while Aaron untangles financial planning.

Resources:

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Removing Financial Thorns (Ep. 11)

Removing Financial Thorns (Ep. 11)

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Ever feel like you’ve got a pesky thorn in your side that keeps messing with your financial plans? You’re not alone, and today we’re digging deep into what’s really bothering us when it comes to money and how to deal with it.

In this episode, Aaron Buchner tackles the common yet often overlooked financial “thorns in your side.” Whether you’re just starting out or nearing retirement, these issues seem to affect everyone. Aaron shares insights on doing more than just basic financial planning – it’s about understanding your true financial needs and priorities. From knowing exactly what you’re paying for (and what you get in return) to the importance of honest conversations with loved ones about money, we’re covering it all. Aaron offers practical advice on how to stop flying by the seat of your pants and start making financial choices based on clear goals and priorities.

Aaron discusses: 

  • (01:37) Understanding what you’re really paying for in financial services
  • (06:14) Buckets of saving: how to prioritize and plan your financial goals
  • (10:19) The importance of talking to your partner and family about money
  • (16:12) The critical question: Asking “why?” should be at the heart of your financial decisions
  • And more

Ready to confront your financial thorns? Tune in now!

Connect with Aaron Buchner: 

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Tuition vs. Retirement – The Ultimate Financial Tug of War! (Ep. 10)

Tuition vs. Retirement – The Ultimate Financial Tug of War! (Ep. 10)

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Are you torn between saving for your kids’ tuition and securing your retirement? 

It isn’t an either-or scenario. Learn how to balance these priorities without sacrificing your financial peace of mind!

In this episode, Aaron Buchner debunks the “put your own oxygen mask on first” analogy and shows how you can achieve both tuition savings and retirement goals. Listen in as Aaron discusses the importance of prioritizing, planning, and utilizing family contributions to create a balanced financial strategy. Discover how saving for your kids’ education and your own retirement doesn’t have to be stressful or exclusive.

Aaron discusses: 

  • Dual Priorities: Understand the importance of balancing both tuition and retirement savings
  • Planning Ahead: Learn how to structure your savings to accommodate both goals
  • Family Contributions: Discover ways to involve grandparents and relatives in your kids’ education fund
  • Real-Life Insights: Aaron shares his personal approach to navigating these financial decisions.
  • And more

Resources:

Connect with Aaron Buchner: 

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Lifestyle Creep: How to Handle It Without Breaking the Bank (Ep. 8)

Lifestyle Creep: How to Handle It Without Breaking the Bank (Ep. 8)

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Lifestyle creep can sneak up on anyone, leading to financial stress despite increased income.

How can you balance enjoying your earnings while securing your financial future? What are the key triggers and how can you manage them effectively?

In this episode, Aaron Buchner from Cactus dives into the intriguing world of lifestyle creep, exploring how incremental lifestyle upgrades can impact your financial stability. 

You’ll learn about recognizing and managing lifestyle inflation, understanding its triggers beyond just pay raises, and finding a balance between enjoying the present and saving for the future.

Aaron discusses: 

  • Understanding lifestyle creep and its broader triggers
  • Practical ways to manage lifestyle inflation
  • Balancing current enjoyment with future financial security
  • The importance of personal priorities in financial planning
  • And more!

Resources:

Connect with Aaron Buchner: 

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Your Cactus Doesn’t Know The Stove is Hot Without Touching It (Ep. 7)

Your Cactus Doesn’t Know The Stove is Hot Without Touching It (Ep. 7)

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There is a big difference between knowing something and experiencing something. You believe they can handle a riskier investment, yet your anxiety says otherwise.

Your investment risk level is not a 6% return or a 12% return. It is can you invest for a long time? Can you handle your emotions? Is your job stable? Is your life stable? You being able to not make a change when the market is panicking is only one thing that determines your risk levels

This week, Aaron Buchner shares a personal and somewhat humorous story about the risks he’s taken, from injuring himself in a soccer game after an 18-year hiatus to insights about risk tolerance and capacity in financial planning. He dives deep into understanding and managing risk to ensure you’re prepared for life’s unexpected turns.

Aaron discusses: 

  • Personal Risk Experiences: Aaron’s return to soccer and the physical risks involved
  • Risk Tolerance: The mental ability to withstand market drops and the difference between theoretical and actual risk
  • Risk Capacity: Financial ability to handle risk, considering income, debt, and lifestyle
  • Investment Strategies: Diversifying investments and adjusting risk levels based on different accounts and personal circumstances
  • And more!

Resources:

Connect with Aaron Buchner: 

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Should You Pay Off Debt or Invest? Let’s Find Out! (Ep. 6)

Should You Pay Off Debt or Invest? Let’s Find Out! (Ep. 6)

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Balancing debt repayment and investing can be a tricky decision for many.

How do you decide whether to pay off debt or invest your extra cash? What factors should influence your decision?

In this episode, Aaron Buchner from Cactus dives into the common financial dilemma of whether to pay off debt or invest when you come into some extra money. 

Hear insights into how to approach this financial decision, consider the pros and cons, and understand the importance of personal goals and lifestyle choices in making your decision.

Aaron discusses: 

  • Should you pay off debt or invest windfall money?
  • The impact of high-interest credit card debt and why it’s crucial to pay it off first
  • Understanding mortgage rates and how they differ between the US and Canada
  • The importance of balancing debt payments, investments, and lifestyle goals
  • And more!

Resources:

Connect with Aaron Buchner: 

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8 Ways You Can Cover Your Ass (Ep. 5)

8 Ways You Can Cover Your Ass (Ep. 5)

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Building wealth is something everyone focuses on but focusing on how to keep that wealth and your financial plans on track is something that few focus on.  

You have worked hard for all of this wealth, to see it all go away can hurt. 

In this episode, Aaron Buchner explores the essential concept of “covering your ass” (CYA) in financial planning, offering insights into practical steps you can take to ensure your financial security and stability. 

From life insurance to emergency funds, Aaron breaks down how these strategies can help you enjoy life now and protect your future. 

Aaron discusses: 

  • The importance of life insurance in safeguarding your financial plans and supporting your loved ones.
  • Critical illness and disability insurance and how they provide a safety net during unforeseen health challenges
  • The value of diversification in investments to minimize risk and enhance long-term financial growth
  • Why having an emergency fund is crucial and how to effectively manage it for unexpected expenses
  • The importance of having a will and naming beneficiaries
  • Why you should constantly monitor and rebalance your investments 
  • And more!

Connect with Aaron Buchner: 

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