Category: Financial Services
Navigating Employee Stock Options, RSU’s and Stock Purchase Plans (Ep. 58)

Navigating Employee Stock Options, RSU’s and Stock Purchase Plans (Ep. 58)

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Stock benefits can be a powerful tool for building wealth, but they often come with confusion and hidden risks.

How do stock options, RSUs, and employee purchase plans work? What tax implications should you consider? How can you protect yourself from overconcentration in company stock?

In this episode, Jim McGovern breaks down different types of stock benefits, explaining how they function, their tax implications, and the risks involved. He provides insights on when to exercise options, how to diversify, and strategies for hedging against potential losses.

Jim discusses:

  • The differences between stock options, restricted stock units (RSUs), and employee stock purchase plans, including how they are granted, vested, and taxed
  • The risks of holding too much company stock, including historical data on stock declines and why diversification is key
  • Tax implications of incentive stock options (ISOs) and non-qualified stock options (NSOs), including how timing affects tax rates
  • How restricted stock units (RSUs) provide a more straightforward benefit compared to stock options and why many large companies prefer them
  • Hedging strategies to protect against stock declines while still maintaining potential for future gains
  • And more

Resources:

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Estate Planning Strategies in Uncertain Times with Nick Sasso (Ep. 57)

Estate Planning Strategies in Uncertain Times with Nick Sasso (Ep. 57)

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Are you ready to safeguard your wealth for generations to come? In volatile times, understanding advanced estate planning has never been more essential.

In this episode of Maximizing Outcomes, Jim McGovern is joined by Nick Sasso, estate planning attorney at Porter Wright Morris & Arthur LLP, to dive into the complexities of estate tax exemptions and strategic planning using trusts. 

With current laws set to change, don’t leave your assets exposed. Nick shares insights on the risks of relying solely on today’s high estate tax exemptions and how sophisticated trusts can provide flexibility and control over your assets.

Jim and Nick discuss:

  • The history and future of estate tax exemptions
  • Dangers of complacency in estate planning
  • The role and benefits of irrevocable trusts like SLATs and ILITs
  • Innovative trust solutions such as the Beneficiary Defective Inheritors Trust (BDIT)
  • And more!

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About our guest:

Nick Sasso serves as counsel in the firm’s Estate Planning and Wealth Preservation practice group.  He brings a depth of experience with a focus in the areas of estate planning, tax planning, high-net-worth planning, business succession planning, charitable giving, special needs planning, and trust and estate administration. 

Most of Nick’s practice is centered around efficient tax planning strategies for individuals, families and family owned businesses. Specifically, Nick has successfully navigated complex qualified fund planning allocations for clients after the limitation of lifetime stretch IRAs post the 2020 Secure Act through the utilization of charitable planning. He has also successfully assisted numerous family businesses through strategic tax generational lifetime transfers. Nick advises clients in regard to inter vivos and testamentary planning techniques with a special focus on generation skipping transfer tax planning, timed defective trust funding, complex and rolling grantor retained annuity trust plans, and beneficiary deemed owner trust toggle provisions based on a balance of estate, gift and income tax scenarios.

Nick also safeguards the privacy of athletes, business owners, media personalities, and other high profile clients by employing blind trust ownership strategies.

Known for his dedication to pro bono work, Nick received the Ohio Northern Pro Bono Service Recognition Award in 2011. He also received the Volunteer Attorney of the Year for the 18th Judicial District of Arkansas in 2013 and the Legal Aid of Arkansas Pro Bono Service Award in 2017.

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Tax-Optimized Real Estate Strategies: 1031 Exchanges and Delaware Statutory Trusts with Ryan Perri (Ep. 56)

Tax-Optimized Real Estate Strategies: 1031 Exchanges and Delaware Statutory Trusts with Ryan Perri (Ep. 56)

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Have you ever wondered how savvy real estate investors grow their portfolios without hefty tax bills? Or how you can invest in large commercial properties without the hassle of being a landlord? 

Dive into this episode of Maximizing Outcomes with Jim McGovern as we explore these game-changing strategies!

In this episode, Jim is joined by Ryan Perri from Inland Securities Corporation to unpack two powerful tools: the 1031 exchange and Delaware statutory trusts. Discover how these strategies can transform your real estate investing approach—deferring taxes and diversifying your investments seamlessly.

Jim and Ryan discuss:

  • What a 1031 exchange is and why it’s a go-to strategy for deferring capital gains taxes 
  • The role of a qualified intermediary in the exchange process
  • Understanding like-kind property and its requirements
  • The benefits of Delaware statutory trusts for passive real estate investing 
  • And more!

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Connect with Ryan Perri:

About our guest:

Ryan Perri has a strong background in finance and real estate investments. Ryan currently serves as the Senior Vice President at Inland Securities Corporation, where Ryan leads investment distribution and education in the Mid-Atlantic region. With a specialization in alternative investments such as private real estate and REITs, Ryan has also held various roles in institutional relations at Macquarie Group. Prior to their current position, Ryan worked as a Vice President of Sales at Resource Real Estate and as an Investment Advisor Representative at ING Financial Partners. Ryan holds a BSBA in Finance and Economics from Drexel University. 

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Business Exit Planning: A Value Management Process to Harvest Business Wealth (Ep. 55)

Business Exit Planning: A Value Management Process to Harvest Business Wealth (Ep. 55)

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Most business owners have over 80% of their wealth tied up in their business, yet few are fully prepared to unlock that wealth when it’s time to exit.

In this episode, Jim McGovern dives into the transformative world of exit planning, emphasizing how smart planning today can position an owner to maximize and harvest their business’s value later.

With 75% of business owners aiming to exit in the next decade, understanding the essence of exit planning is critical. It’s not a task to save for the future—it’s a strategic approach you can use now to build, protect, and secure your business’s value on your terms.

Jim discusses:

  • Why exit planning and business strategy go hand in hand
  • The 5 stages of value maturity: Identify, Protect, Build, Harvest and Manage
  • Guarding against the “Five D’s” that threaten business value: Death, Disability, Divorce, Distress, Disagreement
  • Building Value and Business Attractiveness through your “4 C’s”
  • Why aligning personal, financial and business readiness is essential for a smooth exit.
  • And more!

Resources:

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Perspectives on Asset Allocation in Today’s Market with BlackRock’s Eric Mueller (Ep. 54)

Perspectives on Asset Allocation in Today’s Market with BlackRock’s Eric Mueller (Ep. 54)

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Markets are always moving, and with elections and global uncertainty on the horizon, what can you do to position your portfolio for the future?

In this episode of Maximizing Outcomes, Jim McGovern speaks with Eric Mueller, Managing Director and strategist at BlackRock, about the current state of the markets and how to strategically adjust portfolios. 

They cover the economic landscape, interest rate cuts, and the strength of corporate earnings, offering actionable advice for investors concerned about the road ahead.

They discuss:

  • An analysis of the current economic and financial market landscape
  • Strategies for portfolio positioning amidst geopolitical and election uncertainties
  • The impact of Fed interest rate cuts on fixed income investments
  • The significance of tax-efficient and personalized investment strategies
  • And more!

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Connect with Eric Mueller:

About our guest:

Eric Mueller is a Managing Director at BlackRock, serving as a senior strategist within their Multi-Asset Strategies and Solutions group. With 17 years of experience at BlackRock, he works closely with portfolio managers and research analysts to analyze market trends and identify investment opportunities across various asset classes. His knowledge includes guiding portfolio positioning, understanding economic risks, and helping investors achieve a range of financial objectives through strategic portfolio management.

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Business Uses of Life Insurance: The Untold Stories Behind Iconic American Brands (Ep. 53)

Business Uses of Life Insurance: The Untold Stories Behind Iconic American Brands (Ep. 53)

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In this episode, Jim McGovern dives into the surprising and crucial role life insurance has played in building and saving some of the world’s most iconic brands. From Walt Disney using his life insurance to fund Disneyland to Ray Kroc leveraging his policy to grow McDonald’s, we uncover how life insurance goes beyond providing death benefits—it’s a powerful tool for business growth, risk management, and ensuring continuity. Jim shares the fascinating stories of Disney, McDonald’s, JCPenney, and Pampered Chef, showing how business owners can protect their companies, fund opportunities, and protect key employees with the strategic use of life insurance. Tune in to learn how this financial tool can transform your business!

Jim discusses:

  • Real-life examples: Learn how Walt Disney, Ray Kroc (McDonald’s), and James Cash Penney (JCPenney) used life insurance to fund their businesses during critical times.
  • Beyond the death benefit: Explore the versatile uses of life insurance for business growth, risk management, and protecting key employees.
  • Key person insurance: Understand how insuring key individuals can help safeguard a company’s value and ensure continuity in times of crisis.
  • Strategic financial tool: Discover how life insurance can provide tax-efficient, liquid cash reserves that business owners can tap into for opportunities or emergencies

Resources:

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Artificial Intelligence and the Future of Work: Insights for Business Leaders, Employees and Students with Dr. Joe Yun (Ep. 52)

Artificial Intelligence and the Future of Work: Insights for Business Leaders, Employees and Students with Dr. Joe Yun (Ep. 52)

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Artificial intelligence (AI) has evolved from a futuristic idea into a powerful force, rapidly reshaping industries, economies, and job markets.

You’ll definitely want to save this episode of Maximizing Outcomes for future reference. Host Jim McGovern chats with AI expert Dr. Joseph Yun about how AI is shaking up the economy, especially in fields like software engineering. They discuss the power of generative AI like ChatGPT, the complexity behind AI systems, and how these changes are set to revolutionize industries like legal services, entertainment, and accounting.

Dr. Yun also tackles some common worries about AI, reassuring listeners that AI will enhance our abilities rather than replace them, opening up new opportunities. The episode wraps up with practical tips for both individuals and businesses on how to thrive in an AI-driven world, focusing on the need for adaptability, continuous learning, and smart AI adoption.

Key Highlights:

  • AI as the Next Industrial Revolution: How AI is transforming economies and job markets, mirroring past technological shifts
  • Generative AI Explained: A deep dive into AI technologies like ChatGPT and their potential business applications
  • AI’s Impact on Technical Jobs: Exploring AI’s growing capabilities in coding and the evolving role of programmers
  • Industries Poised for AI Transformation: Legal services, entertainment, and accounting are among the industries on the cusp of AI-driven change
  • Strategic AI Adoption: Practical steps for businesses to integrate AI effectively, from readiness assessments to pilot projects
  • Preparing for AI-Driven Careers: Advice for students and professionals on how to thrive in an AI-dominated future
  • And much more!

Resources:

Connect with McGovern Wealth Group:

Connect with Joseph T. Yun:

About our Guest:

Dr. Joseph T. Yun is a distinguished expert in artificial intelligence (AI) and machine learning, currently serving as the Artificial Intelligence and Innovation Architect at the University of Pittsburgh. He also holds a prominent role as a Research Professor of Electrical and Computer Engineering in the Swanson School of Engineering, where he leads research on advanced AI systems and their practical applications across business and societal contexts.

In addition to his academic roles, Dr. Yun is the Chief AI Architect at BlueFox Labs, a pioneering AI consultancy and solutions firm. At BlueFox Labs, he focuses on driving AI innovation and helping organizations strategically integrate AI technologies to enhance efficiency and productivity. His work at BlueFox Labs involves designing AI readiness assessments, facilitating AI dream sessions to explore potential applications, and developing pilot projects that align with clients’ business goals.

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Building a Financial Fortress: Robust Planning for an Uncertain World (Ep. 51)

Building a Financial Fortress: Robust Planning for an Uncertain World (Ep. 51)

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The world can be a very tough and unforgiving place. Your finances should be designed to be even tougher and provide the forgiveness, flexibility, and resilience required to stand strong in a world full of uncertainties.

In this episode, Jim McGovern discusses the importance of building a resilient financial plan that can handle the uncertainties of life and stand the test of time. He shares his vision for clients to achieve financial freedom and multi-generational wealth through holistic financial planning. Key topics include overcoming barriers to financial planning, the importance of following a planning process, and the difference between financial freedom and financial security. Jim also highlights the dangers of needs-based planning and offers practical strategies to simplify and optimize your financial life. Tune in for actionable advice to maximize your financial outcomes.

Key Highlights:

  • Building Financial Resilience: Learn the importance of creating a financial plan that can withstand life’s uncertainties, ensuring flexibility, forgiveness, and resilience.
  • Achieving Financial Freedom: Emphasis on the goal of financial freedom where passive income from assets covers living expenses, providing independence from regular income.
  • Holistic Financial Planning: The need for a comprehensive approach to financial planning that goes beyond just investments, including protection planning and cash flow management, and debt and tax reduction.
  • Overcoming Planning Barriers: Common reasons people avoid financial planning, such as intimidation or lack of time, and how overcoming these barriers can lead to a more secure financial future.
  • Dangers of Needs-Based Planning: Explanation of the pitfalls of needs-based planning and the importance of embracing uncertainty to build a plan that stands the test of time.
  • And much more!

Resources:

Connect with McGovern Wealth Group:

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Reverse Mortgages: Myths, Facts, and Financial Benefits (Ep. 50)

Reverse Mortgages: Myths, Facts, and Financial Benefits (Ep. 50)

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Is your retirement income plan missing a key component?

In this insightful episode of Maximizing Outcomes®, host Jim McGovern and Don Graves, President of the Housing Wealth Institute, discuss leveraging home equity through reverse mortgages to enhance retirement outcomes. Gain actionable insights, dispel myths, and discover how this financial tool can redefine your retirement strategy.

Key Highlights:

  • Understanding Reverse Mortgages: Learn how they work, dispel myths, and uncover their benefits
  • Professional Insights: Hear Don Graves’ journey from skepticism to advocacy and how home equity can be used strategically
  • Comprehensive Planning: Explore the “true liquidity bucket” concept and smart ways to use all assets for optimal outcomes
  • Strategic Uses: Discover how reverse mortgages can supplement Social Security, delay benefits for higher payouts, and manage tax burdens
  • Key Criteria: Understand the determinants of reverse mortgages: spouse’s age, home value, and interest rates
  • Financial Stability: Learn how a reverse mortgage line of credit offers a reliable buffer during market downturns
  • Debunking Myths: Clarify misconceptions about ownership and debt repayment limits
  • And much more!

 

Connect with McGovern Wealth Group:

 

Connect with Don Graves:

 

About our Guest:

Don Graves, RICP®, CLTC®, CSA® Certified Senior Advisor, is the President and Founder of the Housing Wealth Institute, and a leading educator in the field of retirement income planning. He has authored three books and serves as an Instructor of Retirement Income at The American College of Financial Services. Recognized as one of the top retirement income leaders by the American College, Don has contributed to over 20,000 advisor/client engagements, distilling his extensive experience into practical, implementable strategies.

His book, Housing Wealth: 3 Ways the New Reverse Mortgage Is Changing Retirement Income Conversations, reached the Amazon #1 spot for New Releases in Financial Services. Don’s expertise has been featured in Forbes Magazine and PBS-sponsored shows. As a Retirement Income Certified Professional (RICP®), Long Term Care Specialist (CLTC®), and Certified Senior Advisor (CSA®), Don brings a unique perspective on integrating housing wealth into retirement planning. He is also a Business Development Manager at Mutual of Omaha Reverse Mortgage, and his workshops are highly sought after by advisors nationwide.

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Wall Street Clichés: Insights or Illusions (Ep. 49)

Wall Street Clichés: Insights or Illusions (Ep. 49)

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In this episode of Maximizing Outcomes®, we dissect some of Wall Street’s most famous investing clichés. From “Don’t fight the Fed” to “Cash is king,” Jim McGovern explores the reality of famous investing sayings. Are they timeless wisdom or just catchy phrases? Learn which adages hold valuable insights and which ones are merely financial folklore. Tune in to gain a clearer understanding of how these sayings can influence your investment strategies and decisions.

Highlights:

  • There’s No Such Thing as a Free Lunch – Understanding the full costs and risks decisions.
  • Sell in May and Go Away – Does this seasonal strategy hold up today?
  • Don’t Fight the Fed – How the Federal Reserve actions can impact your investments.
  • A Penny Saved is a Penny Earned – Does the timeless phrase still hold true?
  • Bulls Make Money, Bears Make Money, Pigs Get Slaughtered – Is greed good or bad?
  • Never Catch a Falling Knife – Are declining investments a bargain buy or buyer beware?
  • And more…

 

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