Money Sense

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Building a successful business takes more than passion and determination. Long-term growth requires financial clarity, strategic decision-making, and the ability to balance profitability with sustainability. For entrepreneurs, understanding key financial metrics, building the right support team, and protecting their own well-being are all essential components of lasting success.

This week on Money Sense, Heather Deaton, Wealth Advisor at Ellenbecker Investment Group, welcomes Cheryl McMurtry, Founder and President of McMurtry Financial Services. Drawing on her experience helping small businesses and nonprofit organizations strengthen their financial foundations, Cheryl shares practical insights on the habits, strategies, and financial disciplines that help businesses thrive beyond the critical first few years.

The conversation explores the importance of knowing your numbers, understanding cash flow, budgeting for growth, maintaining profitability, and building the right team of professional partners. Heather and Cheryl also discuss pricing strategies, business sustainability, succession planning, delegation, and the often-overlooked connection between entrepreneurial success and personal well-being.

Episode Highlights:

1:31 | Cheryl shares her background and the mission behind McMurtry Financial Services
2:52 | Why most businesses fail within the first three to five years and the role financial health plays in long-term success
4:46 | The importance of knowing your numbers and running a business with financial clarity
6:27 | Understanding your break-even point and why every business owner should know it
7:28 | Profit margins, pricing strategies, and avoiding the trap of underselling your value
9:18 | Managing cash flow and understanding how money moves through a business
10:13 | Identifying seasonal trends and using historical data to make better business decisions
13:19 | How often business owners should review financial data and meet with trusted advisors
14:35 | Why waiting until tax season is often too late to make meaningful financial improvements
15:40 | Building reserves, emergency funds, and financial safeguards for businesses
16:54 | The value of lines of credit and planning for unexpected challenges
19:10 | Becoming an expert in your industry while relying on specialists for financial guidance
19:42 | Why budgeting serves as the roadmap for sustainable business growth
24:13 | Understanding your unique value proposition and pricing it appropriately
27:42 | The importance of managing expenses and evaluating the true cost of doing business
29:17 | Building a team of professional partners, from marketing specialists to HR experts
30:13 | Knowing where your time creates the most value and learning when to delegate
31:52 | Succession planning and developing future leaders within your organization
33:41 | Common financial pitfalls that prevent businesses from reaching long-term profitability
34:14 | Cheryl's “You Are Here” financial map analogy and why accurate bookkeeping matters
36:14 | Remaining compliant with taxes, regulations, and reporting requirements
38:12 | Protecting your well-being as a business owner and avoiding burnout
40:22 | Moving from the hustle mindset to building a scalable business with systems and processes
42:11 | Setting boundaries, defining your ideal clients, and learning to say no strategic...

Travel is often one of the most rewarding goals people build into their financial plans. Whether it's exploring a bucket-list destination, creating lasting memories with children and grandchildren, or immersing yourself in a new culture, travel has the power to enrich life in ways few other experiences can. But today's travel landscape requires thoughtful planning, flexibility, and expert guidance to make the most of every adventure.

This week on Money Sense, Jamie Williams, CFP®, Wealth Advisor at Ellenbecker Investment Group, welcomes travel experts Bob Winter and Jim Wilde of Lake Country Travel and Entourage Expeditions. Drawing on decades of industry experience and personal travel to more than 110 countries, Bob and Jim share insights into today's biggest travel trends, how travelers can maximize value, and what retirees and families should consider when planning meaningful experiences around the world.

The conversation explores everything from river cruising, small-group travel, and cultural immersion experiences to multi-generational travel, travel insurance, budgeting, passport requirements, and destination planning. Bob and Jim also discuss common travel mistakes, how to accommodate varying mobility levels, why flexibility remains essential, and how thoughtful travel planning can create unforgettable experiences for families and retirees alike.

Episode Highlights:

1:31 | Bob and Jim share their backgrounds, travel experience, and how Lake Country Travel and Entourage Expeditions were founded
3:22 | Adventures in Antarctica and why expedition travel continues to grow in popularity
4:29 | Major travel trends including river cruising, small-group experiences, and cultural immersion travel
6:52 | How first-time travelers can determine whether guided tours or custom itineraries are right for them
8:36 | Accommodating mobility concerns and selecting travel options that match individual comfort levels
10:18 | Bucket-list destinations, the Seven Continents Club, and experiencing places before they change forever
11:52 | Multi-generational travel as a legacy planning strategy that creates lifelong family memories
13:37 | Why major trips should often be planned 18 to 24 months in advance
15:03 | The importance of flexibility, contingency planning, and adapting during travel
16:31 | Incorporating meaningful travel goals into a comprehensive financial plan
17:05 | What's driving higher travel costs and how travelers should prepare for sticker shock
18:45 | Three practical ways to maximize travel value, including early booking discounts, cash savings opportunities, and travel rewards programs
20:48 | Why people should prioritize meaningful travel experiences before retirement whenever possible
22:19 | Common travel mistakes, over-planning itineraries, and avoiding travel burnout
23:21 | Passport renewal requirements and important documentation considerations for international travel
24:47 | REAL ID, TSA PreCheck, Global Entry, and strategies to simplify the travel experience
26:01 | Travel insurance essentials, including trip cancellation, medical coverage, delays, and baggage protection
29:19 | Where spending a little more can significantly improve your travel experience
31:06 | Memorable bucket-list destinations including Antarctica, Alaska, and the Canadian Rockies
32:43 | How travel creates friendships, community, and lifelong connections among fellow travelers
33:19 | A unique Morocco expedition built around experiencing a nearly total solar eclipse
34:14 | Final travel advice for retirees: prioritize energy, interests, and richer experiences over checking destinations off a list
35:00 | Great starter travel options for new international travelers, including river cruises and rail journeys
36:24 | How to learn more about Lake Country Travel an...

Retirement is one of life's biggest transitions, and while financial preparation is essential, the emotional, social, and practical realities of retirement are just as important. From finding purpose and maintaining relationships to navigating health care costs and changing travel plans, retirement often looks different than people expect.

This week on Money Sense, Jean Range, Senior Wealth Advisor at Ellenbecker Investment Group, welcomes former Ellenbecker advisor Diane Byrne for an honest conversation about retirement. Drawing on her decades of experience helping clients prepare for retirement, along with her own six years of retirement experience, Diane shares what surprised her most, what she planned well, and what lessons she learned along the way.

The conversation explores everything from practicing for retirement before leaving the workforce and maintaining your sense of identity, to planning for health care expenses, staying active, managing taxes, and creating a lifestyle filled with purpose and meaningful connections. Jean and Diane also discuss aging in place, retirement travel, spending habits after leaving work, and what truly defines a successful retirement.

Episode Highlights:

1:18 | Why retirement can feel intimidating and why so many people fear the transition
2:45 | Diane's approach to retirement planning and "practicing" retirement before leaving work
4:20 | Finding purpose, community, and activities that fill your cup in retirement
4:41 | Navigating identity and staying connected after leaving your career behind
6:13 | Unexpected retirement surprises, including retiring during COVID
7:15 | Designing a forever home and planning to age in place
8:22 | Health challenges that changed retirement expectations
10:16 | Retiring to something, not from something: finding purpose in retirement
11:00 | Pursuing hobbies, friendships, and passions with newfound freedom
11:49 | How learning the ukulele created community, volunteer opportunities, and lifelong friendships
13:23 | The mission and impact of the Ellenbecker Charitable Foundation
14:19 | Travel expectations versus retirement realities
15:03 | How health and changing interests can reshape retirement travel plans
16:43 | Solo travel options and finding communities that share your interests
17:46 | Buyer beware: the retirement expenses people often underestimate
18:20 | The true cost of health care in retirement and Medicare considerations
19:28 | Why taxes matter more in retirement than many people expect
20:27 | Tax planning strategies and managing retirement income sources
21:44 | The importance of staying physically and mentally active in retirement
22:42 | Preparing for retirement several years before you leave the workforce
22:48 | Why major purchases may be easier to make before retiring
23:44 | Creating dedicated savings for meaningful goals and special experiences
24:43 | Knowing when you're truly ready to retire
25:25 | Diane's definition of a successful retirement and the freedom of having choices

ELLENBECKER INVESTMENT GROUP Presenter of the Money Sense Podcast. Ellenbecker Investment Group (EIG), a registered investment advisor, provides comprehensive financial planning and fiduciary wealth management services for individuals, families, businesses, and charitable organizations. EIG's planning-first approach helps clients align their financial decisions with th...

Helping grandchildren financially is about much more than simply giving money. Thoughtful planning can create opportunities for education, encourage healthy financial habits, and establish a lasting family legacy that benefits future generations.

This week on Money Sense, Nick Kibardin, MBA, CFP®, welcomes Sandy Miller, Wealth Advisor Associate at Ellenbecker Investment Group, for a conversation about seven ways grandparents can help their grandchildren. Drawing from both her professional experience and her role as a grandmother of seven, Sandy shares practical strategies for gifting, saving, investing, and passing along financial values that can make a meaningful impact for years to come.

The discussion covers everything from cash gifts and Roth IRA opportunities for working teenagers to 529 plans, custodial accounts, trusts, direct tuition payments, appreciated stock gifting strategies, and the newly introduced Trump Accounts. Along the way, Nick and Sandy highlight the importance of financial education and how grandparents can use these tools not only to transfer wealth, but also to teach responsibility and stewardship.

Episode Highlights:

1:20 | #1 Gifting cash and teaching financial responsibility
4:42 | Using earned income and Roth IRAs to build long-term wealth
5:43 | #2 Understanding the benefits of 529 college savings plans
9:41 | New flexibility for 529 plans, including Roth IRA rollovers
10:38 | #3 How custodial (UTMA) accounts can teach investing fundamentals
15:36 | #4 Using trusts to create a lasting family legacy
18:36 | #5 Direct tuition and medical payments as gifting strategies
20:42 | #6 The advantages and considerations of gifting appreciated stock
23:58 | #7 Exploring the new Trump Accounts and their potential benefits
28:15 | Educational resources available through Ellenbecker Investment Group
29:48 | Final thoughts on financial education, family values, and legacy planning

ELLENBECKER INVESTMENT GROUP
Presenter of the Money Sense Podcast. Ellenbecker Investment Group (EIG), a registered investment advisor, provides comprehensive financial planning and fiduciary wealth management services for individuals, families, businesses, and charitable organizations. EIG's planning-first approach helps clients align their financial decisions with their values, goals, and long-term vision for the future.
Website: ellenbecker.com

This podcast is for educational purposes only and should not be considered legal, tax, or financial advice. Guest opinions represent the views of the individuals speaking, and references to specific products, services, legislation, or organizations do not imply endorsement by Ellenbecker Investment Group. Before making financial, tax, or estate planning decisions, consult with qualified professionals familiar with your individual circumstances.

Markets are constantly balancing optimism and uncertainty. While headlines often focus on volatility, long-term success comes from understanding the forces driving investment decisions and maintaining a disciplined strategy aligned with your goals.

This week on Money Sense, Jamie Williams welcomes Dick Schiller, CFA and Senior Wealth Advisor at Pavlic Investment Advisors, for a discussion on the current investment landscape. Together, they explore the ongoing bull versus bear market debate, the impact of artificial intelligence on corporate earnings and market performance, and what investors should be watching as economic conditions continue to evolve.

The conversation also takes a deeper look at fixed income investing, including today's interest rate environment, the role of bonds in a diversified portfolio, and how thoughtful asset allocation can help investors navigate uncertainty. Dick shares insights on corporate bonds, market expectations for interest rates, and why maintaining a long-term perspective remains essential regardless of market conditions.

Episode Highlights:

1:48 | Understanding bull and bear markets

5:29 | The bullish case for today's market

7:22 | How AI spending is driving earnings growth

10:25 | Potential risks investors should watch

14:47 | The current fixed income landscape

18:12 | Why "higher for longer" interest rates matter

21:23 | Federal Reserve expectations and market outlook

23:20 | Cash management and bond ladder strategies

30:10 | Why corporate bonds remain attractive

35:19 | Investor discipline during market uncertainty

38:04 | AI, productivity, and long-term market opportunities

PAVLIC INVESTMENT ADVISORS
Pavlic Investment Advisors is an independent investment management firm providing portfolio management, fixed income expertise, and investment consulting services for individuals, families, institutions, and financial advisors. The firm focuses on disciplined investment strategies, risk management, and customized portfolio solutions designed to help clients pursue their long-term financial goals.
Website: pavlic.com

ELLENBECKER INVESTMENT GROUP
Presenter of the MPC Podcast. Ellenbecker Investment Group (EIG), a registered investment advisor, provides comprehensive financial planning and fiduciary wealth management for individuals, families, businesses, and charitable foundations.
Website: ellenbecker.com

This podcast is for educational purposes only and should not be considered legal, tax, or financial advice. Guest opinions represent the views of the individuals speaking, and references to companies or organizations do not imply endorsement by Ellenbecker Investment Group.