Common Sense Financial Podcast
Brian Skrobonja
The Common Sense Financial Podcast is all about finances, mindset and personal growth. The goal is to help you make smart choices with your money in your home and in your business. Some of the podcasts here are historical in nature. They aired before July 1, 2022 and were previously approved by Kalos Capital. The views and statistics discussed in these shows are relevant to that time period and may not be relevant to current events. This is intended for informational and entertainment purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. Our firm is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the US Government or any governmental agency. The information and opinions contained herein provided by the third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.
Categories: Education
Listen to the last episode:
In this episode, Brian Skrobonja answers the top questions he receives from people looking for help with their financial plan.
He sheds light on why a plan is more than just picking stocks, what most people get wrong about passive income, and the benefits of knowing how much tax liability you’ll have in the future.
- Brian answers the top questions he receives from people looking for financial planning assistance.
- He starts by explaining why a financial plan is more than just picking a few stocks or bonds.
- Unfortunately, there are many situations where products are being sold instead of financial plans being developed. For example, an annuity salesperson sells an annuity to somebody and suggests that the product is the retirement plan.
- So, what does a good financial plan look like?
- According to Brian, the first step is defining what success looks like. Growing your money is not a goal. You must understand and clearly know why you are saving money.
- The other question Brian gets asked a lot is about passive income--what it is and why it’s important.
- Passive income is income that is generated from an asset; it’s not cash in hand from selling an asset. For Brian, a retirement income plan cannot exist without passive income.
- Next is knowing how much future tax liability you have. The question here is what will you do to mitigate those taxes and what strategy do you have in place right now to reduce what taxes you owe right now?
- The other big question you must address when building a financial plan is the dangers you will face now and in the future.
- Life doesn't run in a positive straight line. We have to consider health challenges, an unforeseen death, market declines, and other scenarios that can disrupt your plans.
- The unique approach that Brian and his firm take is that they are more interested in knowing what clients want in life, than following a process to try to flush out the problems that could potentially disrupt those plans, and find solutions to satisfy those things.
- According to Brian, a plan has little to do with products and everything to do with what you want and how you can make that happen.
- Brian reveals the amount people have to pay to access his services and why he settled on that particular figure.
- He also breaks down the definition of a professional--they get paid for their knowledge and ability to help you.
- If someone is working for free, you have to ask what value is being delivered and what is their motivation for offering a free service.
- Cost is only an issue when there's an absence of value and any fee without value is too high.
Mentioned in this episode:
Common Sense Financial Podcast on YouTube
Common Sense Financial Podcast on Spotify
Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.
Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.
The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training.
Annuity guarantees rely on financial strength and claims-paying ability of issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are not FDIC insured.
Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply.
Our firm does not offer tax or legal advice. Consult your tax or legal advisor regarding your situation.
Previous episodes
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118 - Top 2 Questions Answered Wed, 15 May 2024 - 0h
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117 - Hidden Tax Strategies, with CPA Tanner Adams - Replay Wed, 08 May 2024 - 0h
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116 - Four Big Financial Planning Mistakes Business Owners Make - Replay Wed, 01 May 2024 - 0h
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115 - How SDLI Can Provide Flexibility - Replay Wed, 24 Apr 2024 - 0h
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114 - Who Should Consider An Annuity? - Replay Wed, 17 Apr 2024 - 0h
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113 - Defining A Diversified Portfolio Wed, 10 Apr 2024 - 0h
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112 - Investing in Your Ideal Future Self - Replay Wed, 03 Apr 2024 - 0h
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111 - An In-Depth Breakdown of Privatized Banking aka Build Banking - Replay Wed, 27 Mar 2024 - 0h
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110 - CSFP 006 | What To Know About How Banks Work Mon, 10 Apr 2017 - 0h
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109 - CSFP 005 | Busting Common Myths Mon, 27 Mar 2017 - 0h
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108 - CSFP 004 | What Is Cashflow? Thu, 02 Feb 2017 - 0h
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107 - CSFP 003 | Social Security and Medicare with Rich Grawer Thu, 02 Feb 2017 - 0h
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106 - CSFP 002 | Positioning Your 401k and Pension Assets Thu, 26 Jan 2017 - 0h
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105 - Retirement Requires a Shift in Mindset - Replay Wed, 20 Mar 2024 - 0h
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104 - Settling An Estate As An Executor Wed, 13 Mar 2024 - 0h
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103 - Avoid Making These 5 Retirement Mistakes - Replay Wed, 06 Mar 2024 - 0h
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102 - 6 Tips For Choosing the “Right Fit” Financial Advisor - Replay Wed, 28 Feb 2024 - 0h
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101 - Make Health Planning Part of Your Retirement Planning, with Regan Archibald - Replay Wed, 21 Feb 2024 - 0h
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100 - Tax Deferred to Tax Free: Navigating Taxes in Retirement Wed, 14 Feb 2024 - 0h
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99 - The 4 Biggest Obstacles to Effective Estate Planning - Replay Wed, 07 Feb 2024 - 0h
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98 - Longevity: The Retirement Problem No One Is Discussing - Replay Wed, 31 Jan 2024 - 0h
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97 - Different Approach of Financial Planning Addresses ‘the Missing Middle’ - Replay Wed, 24 Jan 2024 - 0h
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96 - An Innovative – and Life-Changing – Way to Look at Retirement, with Dean Jackson - Replay Wed, 17 Jan 2024 - 0h
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95 - Are You Prepared for the Evolution of Retirement? Wed, 10 Jan 2024 - 0h
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94 - In Financial Planning, Consider Your ‘Fuel Tank of Capability’ - Replay Wed, 03 Jan 2024 - 0h
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93 - My Story Wed, 06 Dec 2023 - 0h
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92 - The 5 Key Performance Indicators To Help Measure The Health Of Your Retirement Plan Wed, 22 Nov 2023 - 0h
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91 - Certificates of Deposit: What to Consider and How to Use Them Wed, 15 Nov 2023 - 0h
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90 - How to Create Retirement Confidence Wed, 08 Nov 2023 - 0h
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89 - 3 Factors To Consider Before Taking Your Social Security Benefits Wed, 25 Oct 2023 - 0h
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88 - The 7 Indispensable Steps in Building Your Wealth Strategy Wed, 18 Oct 2023 - 0h
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87 - Hidden Tax Strategies, with CPA Tanner Adams Wed, 27 Sep 2023 - 0h
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86 - Four Big Financial Planning Mistakes Business Owners Make Wed, 20 Sep 2023 - 0h
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85 - How SDLI Can Provide Flexibility Wed, 13 Sep 2023 - 0h
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84 - Who Should Consider An Annuity? Wed, 06 Sep 2023 - 0h
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83 - Investing in Your Ideal Future Self Wed, 30 Aug 2023 - 0h
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82 - An In-Depth Breakdown of Privatized Banking aka Build Banking Wed, 23 Aug 2023 - 0h
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81 - Retirement Requires a Shift in Mindset Wed, 16 Aug 2023 - 0h
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80 - Avoid Making These 5 Retirement Mistakes Wed, 09 Aug 2023 - 0h
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79 - 6 Tips For Choosing the “Right Fit” Financial Advisor Wed, 02 Aug 2023 - 0h
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78 - Make Health Planning Part of Your Retirement Planning, with Regan Archibald Wed, 26 Jul 2023 - 0h
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77 - An Innovative – and Life-Changing – Way to Look at Retirement, with Dean Jackson Wed, 31 May 2023 - 0h
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76 - The 4 Biggest Obstacles to Effective Estate Planning Wed, 24 May 2023 - 0h
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75 - Longevity: The Retirement Problem No One Is Discussing Wed, 17 May 2023 - 0h
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74 - In Financial Planning, Consider Your ‘Fuel Tank of Capability’ Wed, 10 May 2023 - 0h
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73 - Different Approach of Financial Planning Addresses ‘the Missing Middle’ Wed, 03 May 2023 - 0h
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72 - Five Assumptions That May Leave You Short of Your Retirement Needs Wed, 08 Jun 2022 - 0h
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71 - Do You Want a Tax Planner or a Tax Preparer? Wed, 01 Jun 2022 - 0h
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70 - Making Sense of Social Security with Rich Grawer Wed, 25 May 2022 - 0h
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69 - The Wealth Building Strategies of Entrepreneurs and Real Estate Investors Revealed Wed, 18 May 2022 - 0h