PODCAST

Modern Wealth Management

Darrick Hutchens and Ray Kramer

Welcome to Modern Wealth Management by Monon Wealth, where we tackle pertinent financial topics to help better position you and your business for success. Listen as Darrick Hutchens and Ray Kramer, Managing Partners of Monon Wealth Management, tap into four decades worth of experience in the financial sector and unpack their strategies for today's level of modern wealth management. So, sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.
Modern Wealth Management - Episode 8 (Overview on Upcoming Tax Proposals with Lisa Curry)
A new year brings a new batch of tax proposals that could leave you scratching your head. In the latest installment of Modern Wealth Management, we bring you a special edition of the show that features a unique guest from the tax planning realm. Darrick is joined by Lisa Curry, Partner at Katz, Sapper & Miller, to address a wide variety of year end tax strategies you can incorporate into your own portfolio. Additionally, Lisa showcases the current tax proposals in existence and how you should be preparing in case some are passed. There's plenty of beneficial information packed into this episode that you don't want to miss! Timecodes: 0:06 - Overview on this special edition of the show 0:59 - Setting the scene on the overall importance behind tax planning within your wealth plan 3:00 - Introducing Lisa Curry of Katz, Sapper & Miller 5:00 - Using a business to take care of the family means 8:15 - "I've heard about this. What does that mean for me?" 12:15 - Increasing tax rates on corporations will still likely impact you 16:05 - The top individual income tax rate and the proposed changes 22:35 - Capital gains and what to expect on this front 29:40 - What is going to change? 34:18 - The backdoor (or mega) ROTH and where it enters the picture 38:54 - Selling your business and how that can impact your taxable income 42:06 - What can wealthy business owners do right now to optimize their plan 47:15 - The value associated with a stress test 50:45 - Closing remarks Connect with Darrick and Ray: https://mononwealth.com/ (Website) https://www.facebook.com/mononwealth (Facebook) https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)
5d ago
51 mins
Modern Wealth Management - Episode 7 (Big Wealth Mistakes the Super Rich Don't Make)
Oct 28 2021
29 mins
Modern Wealth Management - Episode 6 (Have a Trust? You Might Need a Trust Protector!)Modern Wealth Management - Episode 5 (Do You Have What it Takes to Create Significant Wealth?)
Research shows that entrepreneurship can be one of the most effective ways to become wealthy. But, it takes a lot more than simply being a business owner to generate significant wealth. In the latest installment of Modern Wealth Management, Darrick and Ray highlight the four key drivers of business and financial success, as well as personal commitments required to become wealthy. Not only do Darrick and Ray work with an array of entrepreneurs in their wealth management business, but they themselves are entrepreneurs who built their company together. So sit back, relax, and enjoy another enlightening conversation that is bound to leave you with some things to consider for your own wealth creation process. Timecodes: 0:04 - Overview on the topic of the day 1:45 - Entrepreneurship is the main generator for significant wealth today 3:25 - The best practices of wealth entrepreneurs 5:35 - You need to have a commitment to achieve success overall 8:02 - It takes more than simply a commitment to achieve success 9:37 - How the overall quality of your business model will drive wealth creation 13:01 - Establishing industry connections and powerful relationships plays a major role as well 15:06 - The process of building a "dream team" of employees and maintain a high-quality team 18:28 - The willingness to engage with the right professionals 24:24 - Working with a wealth manager, who is familiar with entrepreneurship, is also a best practice 27:26 - Closing remarks Connect with Darrick and Ray: https://mononwealth.com/ (Website) https://www.facebook.com/mononwealth (Facebook) https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)
Aug 30 2021
28 mins
Modern Wealth Management - Episode 4 (What Makes an Elite Wealth Manager Elite, Exactly?)
Affluent individuals, families, and business owners want to make the best decisions regarding their wealth and the first decision usually deals with selecting a particular wealth manager. They want to make sure they are working with the best of the best, but how can you tell if a wealth manager truly is elite? In the latest installment of Modern Wealth Management, Darrick and Ray explore an array of skills and characteristics of an elite wealth manager. Not only do they possess the highest level of financial acumen, but they understand the importance behind connecting with their clients on a human level. So sit back, relax, and enjoy another enlightening conversation that will leave you wondering if your current wealth manager is at the elite level! Timecodes: 0:05 - Episode overview and the topic of the day 1:50 - How are people supposed to know if a wealth manager truly lives up to their world-class reputation 4:30 - How an elite wealth manager handles investment management 10:00 - Where the wealth planning component comes into play as well 12:10 - What Darrick and Ray mean when it comes to "advanced planning" 17:46 - What should people be looking for in a wealth manager that claims to be elite 20:12 - Not all wealth managers incorporate the human element 22:50 - An example of Darrick and Ray forging a successful relationship with a given client 26:41 - The bottom-line on how Darrick and Ray approach their clients at Monon Wealth Management 30:10 - Closing remarks Connect with Darrick and Ray: https://mononwealth.com/ (Website) https://www.facebook.com/mononwealth (Facebook) https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)
Jul 14 2021
31 mins
Modern Wealth Management - Episode 3 (Three Reasons Life Insurance Should Be Part of Your Wealth Plan)
Life insurance isn't the most exciting financial topic, when compared to investment planning overall. However, it's actually one of the most flexible and versatile tools that you have within your wealth planning toolkit! In the third installment of Modern Wealth Management, Darrick and Ryan explore the reasoning behind why you should incorporate life insurance into your overall wealth management strategy. When executed properly, life insurance can provide liquidity, leverage, and certainty to your financial well-being. So sit back, relax, and enjoy another enlightening conversation where Darrick shares his insights, and even his own personal reasoning behind including life insurance into his wealth plan. Timecodes: 00:05 - Overview on today's episode 02:05 - Why Darrick believes life insurance should play a role in someone's wealth plan 03:22 - Wealth planning overall is vitally important 04:30 - In wealth planning, the focus should be on the person and not the product 08:51 - The key roles life insurance plays within wealth planning overall 12:48 - The goals life insurance can help an individual or family achieve 17:54 - How life insurance can be used to help provide cash for a future need 19:42 - Life insurance policies that are influential and beneficial for business owners 21:30 - Life insurance shouldn't be viewed with a negative outlook 23:49 - Closing remarks Connect with Darrick and Ray: https://mononwealth.com/ (Website) https://www.facebook.com/mononwealth (Facebook) https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)
Jun 10 2021
24 mins
Modern Wealth Management - Episode 2 (Preparing Heirs For Their Inheritance)
In the second installment of Modern Wealth Management, Darrick and Ray explore the complex nature surrounding inheritances. The big question surrounding this topic is: Are your heirs ready to deal with the wealth you may be planning to pass on to them someday? It's an unfortunate fact that inheritors often struggle with their windfalls in a way that can be hazardous to the overall wealth. It takes proper planning and clear communication to alleviate any potential problems that could occur with the inheritance itself, as well as the beneficiaries' spending habits afterwards. We all understand the general process behind inheritances, but this episode unveils the intangible elements that come into play, especially when a significant level of wealth is being transferred. So sit back, relax, and enjoy another enlightening conversation that sheds light on a topic we all thought we knew. Timecodes: 00:05 - Show overview and recap of prior episode on stress testing process 02:00 - Are your heirs ready to deal with an inheritance? 04:40 - The internal and external conflicts that inheritors experience 07:35 - How Darrick and Ray begin with helping an heir address this process 11:27 - Examples of what successful individuals are doing when it comes to passing on their wealth 14:26 - Where families should begin to foster a sense of financial intelligence in their beneficiaries 23:40 - Things family matriarchs and patriarchs should be considering 30:10 - Who families should turn to for guidance on handling inheritances 32:40 - How the inheritance conversation plays a role in stress testing overall 34:45 - Closing remarks Connect with Darrick and Ray: https://mononwealth.com/ (Website) https://www.facebook.com/mononwealth (Facebook) https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)
May 12 2021
36 mins
Modern Wealth Management - Episode 1 (Stress Testing)
In the inaugural episode, we introduce you to our show host, Ryan Ruff, as well as Managing Partners of Monon Wealth, Darrick Hutchens and Ray Kramer. With one of the most financially tumultuous years now behind us, there is a great deal of uncertainty surrounding finances. Whether it was the COVID-19 pandemic, the controversial Presidential Election of 2020, or other factors, many people are wondering how to responsibly position their finances for success in 2021. Allow Darrick and Ray to help put your mind at ease and explain the benefits of stress testing. Through a robust and in-depth analysis, Darrick and Ray tap into their four decades of combined experience in the financial sector and review your personal or business finances to help calculate the right financial maneuvers given your future goals. So sit back, relax, and enjoy a thought-provoking conversation surrounding a process you should be considering today for your own financial portfolio. Timecodes: 00:05 - Show overview and introducing Darrick Hutchens and Ray Kramer 03:08 - What individuals and families should be doing right now 05:30 - Why this process is so valuable 08:00 - The three main ways that stress tests can be utilized 10:15 - An example of what prompted someone to discuss stress testing with them 18:13 - An example of how a stress test helped a client from making a mistake 23:36 - How Darrick and Ray tap into the human element during stress tests 28:56 - How their team gets deep into the heart of their clients' goals 32:23 - A lesson that can be learned from the super rich 34:40 - What the discovery process and initial questions look like 36:25 - What kind of analysis clients leave with after completing a stress testing process 40:43 - Closing remarks Connect with Darrick and Ray: https://mononwealth.com/ (Website) https://www.facebook.com/mononwealth (Facebook) https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)
Apr 27 2021
41 mins

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