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Ep 241: The Biggest Wealth Tool: You?
🎙 Episode Title: The Biggest Wealth Tool: You?Podcast: The Weekly Wealth PodcastHost: David Chudyk, CFP®Duration: ~15 minutes💡 Episode SummaryIn this episode, Certified Financial Planner™ David Chudyk reveals what he believes is the biggest wealth-building—and wealth-destroying—tool you have: your mind.David explores how mindset, habits, and self-talk directly influence financial outcomes, and shares practical “mantras” to guide listeners toward a healthier relationship with money.🧠 Key TakeawaysYour Mind Is Your Greatest Asset – The way you think affects your behaviors, and your behaviors determine your financial results.Choose Your Hard – Life involves challenges either way: saving, planning, and being disciplined is hard—but so is financial stress later on. Choose the “hard” that leads to freedom.Be Part of the Solution – Instead of focusing on problems, look for ways to create value and make positive changes—both personally and financially.Adopt an Abundance Mindset – Believe there’s enough success, wealth, and opportunity for everyone. Abundance thinking attracts positivity and opportunities.Look Good, Feel Good – Celebrate your wins. Enjoy the fruits of your labor responsibly—because money should improve your life, not just sit in your accounts.💬 Featured Concepts & Quotes“What we think affects what we do, and what we do affects what we get.”“Choose your hard: the hard work now or the harder regret later.”“If you’re not part of the solution, you’re part of the problem.”“Try going a week without complaining—and see how it changes your mindset.”“Look good, feel good. You’ve earned it.”📚 MentionsThe 7 Habits of Highly Effective People by Stephen CoveyConcepts of scarcity vs. abundance mindsetSelf-improvement and personal development philosophies🏆 Bonus SegmentDavid challenges listeners to reflect not just on the quantitative side of money (how much you have), but also the qualitative side—how your financial choices improve your life, reduce stress, and contribute to the world around you.Question of the Week:How are you making your life better by how you handle your money?🔗 Connect & Learn More💻 Website: www.weeklywealthpodcast.com📅 Schedule a Vision Call: weeklywealthpodcast.com/vision✉️ Email: [email protected]🔗 Parallel Financial: www.parallelfinancial.com📣 Support the ShowIf you enjoy The Weekly Wealth Podcast, please rate, review, and share it with your friends, family, and coworkers. Help us climb the Apple Podcasts charts and grow our community of wealth builders!Disclaimer:This podcast is for informational purposes only and should not be considered investment, legal, or tax advice. Past performance is not indicative of future results. Parallel Financial does not guarantee
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Ep 240: This Halloween Episode Will Scare the $^#% Out of You!
👻 Episode SummaryIn this special Halloween edition, David explores some of the scariest financial mistakes people make — from ignoring their 401(k)s to neglecting estate planning and assuming their business will fund retirement. He also shares tips to avoid these “financial frights” and offers resources to help you make smarter money decisions.🧟‍♂️ Key TakeawaysDon’t drift with your 401(k): Review your investments regularly and get professional advice.Don’t assume one small action solves it all: Keep monitoring your finances after taking action.Plan for the inevitable: Prepare for death, disability, or incapacitation through estate planning.Business owners beware: Know what your business is actually worth and prepare before selling.Taxes are scary — but manageable: Understand your tax rate, plan before year-end, and work with professionals.Bonus tip: Don’t blow your diet this Halloween—avoid the “candy binge”!🧰 Resources MentionedGet your Value Builder Score:👉 www.weeklywealthpodcast.com/valuebuilderscoreDownload your free Balance Sheet Template:👉 www.weeklywealthpodcast.com/balancesheetContact David Chudyk:📧 [email protected] Financial:🌐 https://www.parallelfinancial.com📱 Connect on Social MediaStay connected for more insights, behind-the-scenes content, and updates:Instagram: @weekly_wealth_podcastFacebook: Weekly Wealth PodcastLinkedIn: David Chudyk, CFP®YouTube: Weekly Wealth Podcast Channel💬 Support the ShowIf you enjoyed this episode:Share it with a friend or colleagueSubscribe on your favorite podcast platformLeave a 5-star review to help others discover the show⚠️ DisclaimerThe information shared in this podcast is for educational purposes only and should not be considered financial advice. Parallel Financial does not guarantee the accuracy or completeness of the information provided. Past performance is not indicative of future results.
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EP 239: How to Create a Referable Client Experience with Stacey Brown Randall
In this episode of The Weekly Wealth Podcast, Certified Financial Planner ™ David Chudyk sits down with referral expert and author Stacey Brown Randall to uncover the secrets behind a truly referable client experience.Stacey explains why great service isn’t enough, how to turn everyday clients into raving referral sources, and why asking for referrals can actually hurt your business. Whether you’re a financial advisor, business owner, or sales professional, this conversation will help you re-engineer your client experience so your business grows organically—without cold calls, gimmicks, or awkward scripts.👉 Grab Stacey’s book: The Referable Client Experience⏱️ Episode Timestamps00:00 – Intro: Why referrals are the ultimate financial planning tool01:00 – Meet Stacey Brown Randall: Referral coach, podcaster, and author03:00 – Podcasting longevity & creativity: How podcasts build connection and credibility04:00 – Customer Service vs. Client Experience: Understanding the difference06:00 – Why most people mislabel “referrals” and what to track instead07:30 – How small businesses can outshine big companies in experience10:00 – The 3 Stages of Client Experience: New → Active → Alumni12:00 – The 50/50 Formula: Great work + relationship touchpoints16:00 – Overcoming “The Quiet Voice” of buyer’s remorse18:00 – Example: Sending a “journey card” or handwritten note that reassures new clients21:00 – Avoiding complacency during long-term client relationships22:00 – Cookie Box Example: A creative relationship touchpoint before annual reviews25:00 – Why not every happy client will refer — and that’s okay27:00 – The Science Behind Referrals: Why you should never ask for them30:00 – Centers of Influence: How to approach COIs the right way33:00 – How Stacey works with clients & the programs she offers35:00 – Lifetime value of a referral & compounding business growth36:00 – What wealth means to Stacey Brown Randall: Freedom of choice37:00 – Final Tip: Identify your current referral sources—the “low-hanging fruit”39:00 – Bonus Content: How listeners can apply the episode immediately💡 Key TakeawaysClient experience = how they feel working with youGreat work alone isn’t enough; add relationship touchpointsAvoid the “ask” — referrals come from helping others, not self-promotionIdentify who’s already referring you and nurture those relationships first📚 Resources...
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Ep 238: Turning Taxes Into Real Estate: How to Invest in Historic Properties Using Your Federal Tax Liability
🏛️ Episode OverviewIn this episode of The Weekly Wealth Podcast, host David Chudyk, CFP®, sits down with Gordon Short of GBX Group to explore an incredible — and legal — tax strategy that allows high-income earners to use their federal tax liability to invest in historic real estate.If you’ve ever wondered whether your tax dollars could do something more — like restore America’s historic architecture and generate potential returns — this episode is for you.🎥 Watch the full webinar (with slides and visuals):👉 https://youtu.be/jvJedhcmAxs?si=p9Eq-Rqwe1cPjysY💡 What You’ll LearnThe History Behind Historic Preservation Incentives:How the destruction of New York’s Penn Station inspired the 1976 creation of federal programs to preserve historic architecture.The Federal Historic Preservation Easement Program:What it is, how it works, and how it’s administered jointly by the IRS and National Park Service under Internal Revenue Code §170(h).GBX Group’s Unique Approach:How GBX identifies, acquires, and rehabilitates historic buildings using investor funds — helping to save American landmarks while offering tax-efficient opportunities.Tax Strategy Deep Dive:How investing in GBX can yield a $2.45 charitable deduction for every $1 investedWhy this strategy is typically suited for high earners in the 37% tax bracketThe 50% AGI limitation and how it impacts eligibilityReal-world examples showing federal and South Carolina tax savingsEconomic and Community Impact:See how restored buildings like the Municipal Light Plant in Columbus, OH and the YWCA in Nashville, TN have revitalized downtown areas and created jobs.Returns and Real Estate Benefits:How investors can receive both tax deductions and real-estate-based distributions, typically with a five-year hold period and targeted returns.🧮 Real-World ExampleA taxpayer expecting to owe $100,000 in federal taxes can instead invest that amount with GBX Group.That $100,000 can generate a $245,000 charitable deductionProducing an immediate tax benefit of ~$90,650 (at the 37% bracket)Plus, potential cash distributions and long-term returns from the underlying real estateFor qualifying investors in states like South Carolina, the state tax deduction adds even more value.🏗️ Why It MattersThis episode demonstrates how strategic, congressionally sanctioned tax planning can redirect tax dollars toward socially responsible projects — all while aligning with financial goals and preserving America’s historic landmarks.👤 About the...
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Ep 237: Ask the Professor: Legal Tax Hacks Your CPA Isn’t Talking About
💡 Episode SummaryIn this week’s Ask the Professor edition of The Weekly Wealth Podcast, host David Chudyk, CFP®, sits down with financial educator and colleague Justin Chastain (“The Professor”) to unpack key tax planning concepts that impact retirement, Social Security, and business owners.Justin—who teaches future CFP® professionals through Dalton Education—shares his trademark mix of deep insight and humor while explaining how proactive tax strategies can create real, lasting wealth.🧩 Topics Covered1️⃣ Social Security TaxationHow benefits can be taxed at 0%, 50%, or 85%Why income thresholds haven’t changed since 1984How to plan around working income and Social Security to minimize surprise tax bills2️⃣ Retirement Accounts & WithdrawalsThe difference between Traditional IRAs (tax-deferred) and Roth IRAs (tax-free growth)Understanding Required Minimum Distributions (RMDs)When Roth conversions make sense and how to manage tax brackets efficiently3️⃣ Marginal vs. Effective Tax RatesWhat your next dollar really gets taxed atHow to use bracket management to stay tax-efficientReal examples showing why “being in the 32% bracket” doesn’t mean you’re paying 32% overall4️⃣ Tax-Loss and Tax-Gain HarvestingUsing market volatility to your advantageHow to offset gains and manage investment income efficientlyStrategies for gifting appreciated stock or donating directly to charities to avoid unnecessary taxes5️⃣ Legacy & Estate PlanningWhy charitable giving can reduce both estate taxes and current tax burdensQualified Charitable Distributions (QCDs) explainedHow retirees can use RMDs or life insurance to leave a legacy without overpaying Uncle Sam6️⃣ Business Owner Tax TipsTurning legitimate expenses into deductionsBuilding employee benefits and retirement plans to attract and retain top talentUsing goodwill and benefits as part of your company’s long-term value🎧 Notable Quotes“Money is just a tool to help us live better lives—nothing more, nothing less.” — David Chudyk“Ask your financial advisor: ‘Is tax planning part of your strategy?’ If not, find one who makes it a priority.” — Justin Chastain“It’s not about buying the next hot stock—it’s about knowing where your money is taking you.” — David Chudyk🗓 Bonus SegmentDavid closes the episode by reminding listeners to...
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