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A New Financial Conversation

The Dollar Derail

Guide Financial Planning's Ben Wacek joins Zach Ashburn of Reach Strategic Wealth on Christian financial podcast The Dollar Derail for some quick conversations to change your financial train of thought.

The Dollar Derail is intended for general information and entertainment purposes only and should not be considered investment, tax, or legal advice or as a recommendation for the purchase or sale of any security.

Episode 2.40: Can We Afford To Adopt? Part 1

When it comes to how you use your money, there's nothing more important than the future of your family. In the first episode of this two part series, Zach shares his experience as a foster parent on the path toward adoption. You'll learn about the process, the costs, and how this is an important topic that mixes both emotion and practical information. Come back next week for a closer look at costs associated with international, private, and public adoptions.

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Episode 2.39: Figuring Out The Advance Child Tax Credit

2021 brought several changes to the Child Tax Credit and they've been causing confusion for taxpayers. In this episode, Ben and Zach break down the updates to the credit, the mail you may have been receiving from the IRS, and what it might mean for you at tax time.

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Episode 2.38: Overcoming Your Own Mental Bias, Part 4

Is it better to be lucky or good? Maybe it's actually best to know when you've been lucky versus good. In today's episode, Ben and Zach discuss the Self-Serving Bias and how your perception of yourself can impact how you view the results of your financial moves. Be sure to listen through to learn how to put up guardrails against this bias so that you can use both positive and negative outcomes to learn and grow.

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Episode 2.37: Overcoming Your Own Mental Bias, Part 3

Are you prepared for the risks of investing your money? Or are you too afraid of losing it? In this episode, Ben and Zach discuss the Loss Aversion Bias, the danger it poses to the unaware investor, and how you can put up safeguards to improve your long-term prospects.

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Episode 2.36: Overcoming Your Own Mental Bias, Part 2

This week we continue our 4 week series on cognitive biases and how they impact our financial lives. In this episode, Ben and Zach discuss Framing Bias, the way financial information is presented to us and how it shapes our actions. If you want to become better at evaluating financial opportunities, this episode is for you!

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Episode 2.35: Overcoming Your Own Mental Bias, Part 1

In this brand new 4 week series, we are taking a look at some common cognitive biases that can impact your financial life. These are ways of thinking that can shape how we act in ways that go overlooked if we are not watching out for them. In this episode, Ben and Zach discuss Confirmation Bias and how we interpret new information. Are you leaving your finances vulnerable by how you research new ideas?

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Episode 2.34: Stress, Money, and Special Occasions

In this episode, we are taking lessons learned over the holidays as we break down the stresses that come up during special occasions and events and how planning can help reduce them. Ben and Zach talk through strategies for using your money to bring your goals into focus while increasing your ability to enjoy the moments that matter most.

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Episode 2.33: The Great Resignation

The recent shift from corporate to self-employed individuals has been dubbed "The Great Resignation." If you are considering making the switch to being your own boss or are a business owner looking to retain your employees, this episode is for you. Ben and Zach will discuss the drivers behind this movement and how those considering starting their own businesses can make that transition in a healthy and exciting way.

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Episode 2.31: Choosing The Right Retirement Plan For Your Business

As a business owner you have a lot of decisions to make. Choosing the right retirement plan can maximize retirement savings and tax advantages for solo operators and provide valuable employee benefits and retention for companies with staff. In this episode, Ben and Zach break down a few simple questions you can ask to help determine what benefits you really want to offer and what type of plan may suit you best.

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Episode 2.30: Financial Planning for Non Profit Workers

We care about our friends working in the non-profit world! We have run into a common misconception that those working in this area probably can't afford access to professional wealth management and, while we don't believe this is necessarily true, this episode is to help start bridging that gap. The steps we take in planning for non-profit workers are likely similar to an average client with 2 main differences. first we acknowledge that the reason for your career choice may come from something quite different than the highest pay check and second, each step becomes much more important if you're committing to a field with a lower salary cap than a corporate equivalent.

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Episode 2.28: The Importance of Five-Year Goals

How can we set better goals that are actually tied to where we want to be in the future? In this episode, Ben and Zach discuss how different types of goals may be put to work for you in your planning. You’ll hear about the difference between dreams, goals and vision, why 5-year goals may be the crucial time frame that gets overlooked, and a few exercises to help you get to yours.

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Episode 2.27: Year-End Tax Planning Moves

There's still time left in the year to make a few smart tax moves. In this episode, Ben and Zach run through their easiest tips to reduce your tax bill and optimize your goals. Remember, tax planning happens throughout the year, not just on April 15.

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Episode 2.26: Buying Experiences vs. Buying Things

What does it mean for a purchase to be "worth it?" We have all experienced the tension that comes from a desire to buy something without being sure of its value or the regret of a purchase that didn't turn out well. In this episode, Ben and Zach reflect on their experiences in finance to think through what it means to put your money into things or experiences that you will value today and in the long run.

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Episode 2.25: Second Level Thinking With Your Money

The goal of The Dollar Derail is to offer better questions about dealing with money. In this episode, Ben and Zach take a closer look at what it really means to look past the first question, the most urgent questions, and the immediate decisions and why it's so important to look for the second level impact of your financial choices. Asking better questions means setting yourself up for success by understanding the subsequent effects of your financial decisions.

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Episode 2.24: Is Retirement Biblical?

As people of faith, as stewards, and as professional advisors, we think it's important to seriously consider how our money relates to what we believe. In this episode, Ben and Zach talk about the modern idea of retirement in light of what the Bible says. We work through questions about accumulating wealth, giving generously, and what living well in retirement may mean for you.

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