Trust the Plan Podcast with Nick Hopwood, CFP® and Jim Pilat, CFP®

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2026 Investment Strategy: Where Smart Money Is Going NOW

Fri, 13 Feb 2026 09:40:56 -0500

✅ Apply For A Free Retirement Planning Session ✅ peakwm.com/start-here

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Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth join Ryan Ermanni on WJR’s No Lazy Money for a timely and practical conversation about money. In this episode, they talk through planning ahead for 2026 investments, the questions investors should be asking Peak Wealth as a potential client, and tax laws and money opportunities many people may be overlooking.

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Mon, 01 Dec 2025 13:49:42 -0500

This week on the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® kick off with a Thanksgiving recap and highlights on Michigan football. Plus, they share a big announcement: starting December 2025, catch them live on the first Wednesday of each month at 7 PM on WJR for No Lazy Money with Ryan Ermanni, an hour-long show diving into what “No Lazy Money” really means.

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EP 298: ETFs Gaining Traction: What Investors Should Know

Mon, 10 Nov 2025 15:59:44 -0500

N ick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth discuss ETFs – Exchange-Traded Funds —and the “Everyday Is Payday x2” concept, highlighting key points about dividends and investing strategies. In their discussion, they cover how ETFs are structured, the types of dividends investors may encounter, and the factors to consider when exploring income-focused investments. This content is for informational purposes only and is not financial advice or a recommendation. To learn more, visit peakwm.com.

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EP 297: Inside the Peak Process: How We Help New Clients Succeed

Mon, 03 Nov 2025 09:29:00 -0500

In the new episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about their Peak Process and what new clients can expect when working with their team. They explain how the process helps determine a good fit between what Peak offers and what clients are looking for, creating clarity and confidence from the beginning.

Nick and Jim also share how being true wealth managers means doing much more than just investment advising, including retirement planning, tax strategies, insurance guidance, and estate coordination.

If you want a second opinion on your financial plan, visit peakwm.com.

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EP 296: One-Size-Fits-All Doesn’t Work in Financial Planning

Mon, 27 Oct 2025 09:04:12 -0500

On the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth talk about how many people get financial advice from family, friends, or co-workers who are simply trying to share what they have learned. They point out that this advice often comes from personal experiences and may not apply to your own financial situation. As Certified Financial Planners (CFPs), Nick and Jim stress that what works for someone else might not be right for you. A successful financial plan should be designed around your specific goals, interests, and circumstances so it truly fits your life.

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EP 295: Smart Money Moves: Where to Hold Your Investments for Maximum Growth

Fri, 24 Oct 2025 07:31:47 -0500

On the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth discuss the importance of asset allocation and asset location when building a strong retirement strategy. They emphasize that younger investors can typically afford to be more aggressive with their investment mix, leaning more heavily into equities to take advantage of long-term growth potential, while also being mindful of where those assets are held, whether in taxable, tax-deferred, or tax-free accounts. By aligning investment aggressiveness with one’s time horizon and future goals, they explain, individuals can better position themselves for financial independence and a smoother transition into retirement.

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Wed, 22 Oct 2025 08:55:28 -0500

On the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® explore the concept of "What's your number?" This refers to the specific amount of money you need to feel comfortable retiring. They explain how identifying this number brings clarity to your financial planning and helps you focus on what truly matters to achieve your goals. It's about understanding what you need to live the life you want and being able to enjoy it guilt-free once you've reached that point. Nick and Jim outline practical steps to reach your number, including intentional saving, investing, and aligning your plan with your values and vision for retirement.

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EP 290: Fed Messaging and the International Market Shift

Wed, 22 Oct 2025 08:53:47 -0500

On today’s episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth discuss recent market data with a focus on international stocks. After years of underperformance, many investors began to ignore this area completely, often with no exposure at all.

So far in 2025, international equities have emerged as a leader, and Nick and Jim explain why they are feeling bullish. They share a chart showing the renewed strength in foreign markets and talk about the Fed’s August meeting in Jackson Hole, where potential rate cuts were mentioned, which could be a positive for international stocks.

As always, this podcast is for educational purposes only and is not a recommendation.

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EP 289: Peak Wealth State of the Union 2025

Wed, 22 Oct 2025 08:52:09 -0500

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth shared exciting updates about their continued commitment to community impact through the Invest in Others Scholarship, now available at findingtruewealth.podbean.com

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EP 288: Scam Calls Are on the Rise, Don't Get Fooled!

Wed, 22 Oct 2025 08:49:54 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP® kick things off with some excitement as Michigan Football is back and the season is finally underway. There's plenty to be hopeful for on the field, and even more to look forward to in today's feel-good edition of the Trust the Plan Podcast.

We're turning our attention to an important topic: scam calls and suspicious emails. Nick shares a personal story about recently getting hacked, reminding us all how easy it is to fall victim and how important it is to stay vigilant. We've seen a rise in scammers pretending to be Charles Schwab representatives, calling clients to try and gather personal information. If you ever receive a call like this, don't engage. Hang up and give us a call directly. We're here to help.

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EP 287: Unlocking the J.P. Morgan Guide to Retirement

Wed, 22 Oct 2025 08:47:49 -0500

On the Trust the Plan Podcast, Nick Hopwood, CFP®, and Preston Gee, CFP® of Peak Wealth dive into insights from the J.P. Morgan Guide to Retirement, offering practical ideas and concepts around getting started with saving, preparing for, and living in retirement.

They emphasize the importance of evaluating Roth contributions at various life stages, noting that younger investors often benefit most from Roth accounts due to lower current tax brackets, while those in peak earning years may need to weigh traditional vs. Roth options carefully.

The discussion encourages listeners to think strategically about retirement planning early on, adapting their approach as financial circumstances evolve.

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EP 286: Diversifying Your 401(k): Should You Consider Private Assets?

Wed, 22 Oct 2025 08:44:20 -0500

On this episode of Trust the Plan Podcast with Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth, the focus was on the rising availability of private investments within 401(k) plans. They discussed how options like private equity and private credit, while traditionally reserved for institutional investors, are slowly being introduced into retirement accounts through specialized structures. Although access is still limited and not open to all participants, regulatory changes and industry innovation are beginning to pave the way. Nick and Preston emphasized that while these investments can offer diversification and long-term growth potential, they come with added complexity and are best suited for well-informed investors with a long time horizon.

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EP 285: Planning for Retirement: Insights on Continuing Care Retirement Communities

Mon, 11 Aug 2025 13:55:48 -0500

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth explore the topic of Continuing Care Retirement Communities (CCRCs) and why they matter in long-term planning. They explain how CCRCs offer a range of living options within one community, allowing individuals to transition smoothly as their care needs change. Nick and Preston highlight key considerations like contract types, financial planning, and timing, stressing that understanding these elements early can help families make more confident and informed decisions about the future.

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EP 284: What Does It Take to Feel Wealthy?

Tue, 05 Aug 2025 14:17:47 -0500

On this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth discussed a Schwab survey that asked people how much money it takes to feel wealthy. They explored how people's perceptions of wealth are often tied to specific financial milestones, reflecting what they believe would provide comfort, security, and a sense of success.

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EP 283: France Raised Retirement Age: Is the U.S. Next?

Mon, 28 Jul 2025 12:50:10 -0500

On this episode of the Trust the Plan Podcast, financial experts Nick Hopwood, CFP® and Preston Gee, CFP® discuss the uncertain future of Social Security, referencing both U.S. developments and international changes.

They noted that the U.S. Social Security program is projected to be unable to pay full benefits by 2033—just eight years away—unless reforms are made. Nick emphasized that while nothing is likely to change in the short term due to political gridlock, future adjustments are inevitable.

They pointed to France’s recent 2023 decision to raise the retirement age from 62 to 64, despite widespread protests, as an example of how other countries are already acting. Such moves abroad could foreshadow difficult but necessary decisions facing the U.S. system in the years ahead.

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EP 282: Par for the Course: Happy Gilmore's Holey Finances

Fri, 25 Jul 2025 08:34:10 -0500

On this feel-good edition of the Trust the Plan podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® dive into the lighthearted financial plot flaws in the classic comedy Happy Gilmore, just in time to celebrate the release of Happy Gilmore 2, 30 years after the original hit theaters.

From Happy’s plan to win prize money to save his grandmother’s house, to the questionable handling of her overdue tax payments and looming eviction, Nick and Jim have a blast breaking it all down. It’s a fun way to kick off the nostalgia and excitement for the long-awaited sequel. Stay tuned for our full review of Happy Gilmore 2, coming soon!

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EP 281: Big Business Then vs. Now: Lessons from 1990 to 2025

Mon, 21 Jul 2025 08:52:44 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth, hosting the Trust  the Plan Podcast draw a thoughtful comparison between the major blue‑chip companies of the early 1990s and today’s corporate giants. They reflect on how, back then, names like GE, Exxon, IBM and Coca‑Cola dominated with longstanding industrial and consumer staples.

In contrast, their 2025 lineup features tech‑driven titans and digital platforms whose influence extends far beyond traditional market sectors.

Through this discussion, they underscore how the shift from physical goods to data‑powered services has radically transformed which companies shape and lead the global economy.

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EP 280: What the ‘Big Beautiful Bill’ Could Mean for 529 Plans

Mon, 14 Jul 2025 12:31:30 -0500

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discusses potential changes to 529 plans if the proposed “Big Beautiful Bill” passes. They outline how the bill aims to expand the flexibility and allowable uses of 529 funds, making these education savings accounts more adaptable to a broader range of educational and financial goals. The conversation focuses on how the updates could affect how families plan for education expenses, including potential new options for using leftover funds.

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EP 279: The Halftime Breakdown: Key Lessons from 2025 So Far

Mon, 07 Jul 2025 16:00:22 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management announce that the firm now oversees $400 million in assets under management, marking a significant milestone in their continued growth.

In their July halftime report episode, they reflect on overall market performance through the first half of 2025 and share insights on what investors might expect in the months ahead. They discuss broader economic themes and emphasize the importance of staying diversified, remaining adaptable, and keeping a long-term perspective as the financial landscape continues to shift.

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Mon, 02 Jun 2025 10:59:11 -0500

Nick Hopwood and Jim Pilat of Peak Wealth, on their Trust the Plan podcast, recently discussed a Chase Bank data report examining spending patterns in partially and fully retired households with $250,000 to $750,000 in investable wealth. They observed that spending often increases shortly after retirement, driven by lifestyle changes and long-postponed purchases. Over time, however, that spending naturally begins to taper as routines settle and priorities shift. Their discussion emphasized the need for thoughtful retirement planning that accounts for these evolving spending habits.

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EP 274: Retirement Planning Smart: Roth Conversions with Peak Wealth

Wed, 28 May 2025 14:10:07 -0500

In a recent episode of the Trust the Plan Podcast, Nick Hopwood, CFP®, and Jim Pilat, CFP®, of Peak Wealth Management, delve into the strategic decision of Roth conversions in retirement planning. They present a case study comparing the financial outcomes of converting traditional IRA funds to Roth IRAs versus maintaining the traditional structure. Through detailed charts, they illustrate how Roth conversions can potentially reduce future tax liabilities and provide tax-free income in retirement.

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Mon, 21 Apr 2025 14:01:02 -0500

On this episode of Trust the Plan, Jim Pilat, CFP® and Preston Gee, CFP® of Peak Wealth dive into the current market landscape, highlighting the recent wave of uncertainty that’s had investors on edge.

Just when things seemed shaky, markets surged after former President Trump announced a 90-day pause on tariffs—sending a jolt of optimism through Wall Street.

Jim and Preston break down what this could mean moving forward and emphasize the importance of staying the course. As always, they remind listeners: trust the plan, focus on the long-term, and don’t let short-term noise derail your strategy.

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EP 269: Why Client Education Is the Key to Financial Confidence

Mon, 14 Apr 2025 08:00:42 -0500

On the Trust the Plan Podcast, Nick Hopwood, CFP® and Preston Gee, CFP® emphasize the power of education and guidance in helping clients take control of their financial future.

For them, it’s not just about managing money—it’s about empowering individuals to truly understand their financial plan, be involved in the process, and feel confident in the decisions they’re making.

By breaking down complex topics and focusing on clear, personalized advice, Nick and Preston aim to inspire clients to make smart choices today that build a secure, fulfilling retirement tomorrow.

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EP 268: US Market Correction: History, Trends, and What Investors Should Expect

Mon, 07 Apr 2025 13:03:56 -0500

On the Trust the Plan Podcast, Nick Hopwood, CFP® and Preston Gee, CFP® dive deep into the concept of market corrections and what investors can expect moving forward in the current state of the U.S. market.

They discuss how a correction—defined as a 10% drop from recent highs—can offer both risks and opportunities. By analyzing historic market charts, they explain the patterns of past corrections, and emphasize that while corrections are a natural part of market cycles, they often pave the way for future growth.

The duo discusses how investors can navigate these times by staying disciplined, managing risk, and looking for opportunities when the market stabilizes.

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EP 268: Maximizing Your Path to Early Retirement with Smart Tax Strategies

Mon, 31 Mar 2025 08:32:04 -0500

Nick Hopwood, CFP® and Preston Gee, CFP®, hosts of the Trust the Plan Podcast, discuss a tax planning case study focused on achieving early retirement outside of traditional retirement accounts like 401(k)s and IRAs.

They emphasized that a key strategy for early retirement is having access to funds without needing to tap into retirement accounts, which often come with penalties for early withdrawal.

By effectively managing taxes and diversifying income streams, individuals can set themselves up for financial independence much earlier than traditional retirement planning might allow.

This approach focuses on smart tax strategies, investments, and withdrawal planning to create more flexible financial freedom.

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EP 267: 401(k) Debate: TikTok’s Take vs. Peak Wealth’s Expert Advice

Mon, 17 Mar 2025 13:06:55 -0500

In this episode of Trust the Plan, Peak Wealth’s Nick Hopwood, CFP® and Jim Pilat, CFP® dive into the growing TikTok debate surrounding 401(k) plans. TikTok critics argue that 401(k)s aren’t a reliable retirement strategy, citing concerns over fees, market volatility, and limited flexibility.

Nick and Jim take on these claims head-on, sharing their expert insights on why 401(k)s remain a valuable tool for long-term retirement planning. They highlight the benefits of tax advantages, employer matches, and disciplined saving, explaining why 401(k)s can still play a crucial role in building a secure financial future.

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EP 265: Inside the U.S. Economy: How the Rich Keep Spending and Fueling Growth

Mon, 03 Mar 2025 09:32:45 -0500

In a discussion sparked by a Wall Street Journal article titled "The U.S. Economy Depends More Than Ever on Rich People", Nick Hopwood, CFP® and Jim Pilat, CFP® delve into the crucial role of consumer spending in driving economic growth. They emphasize how, despite challenges in other sectors, the wealthiest individuals are responsible for a significant portion of spending in the U.S. economy.

This group’s purchasing power, from luxury goods to high-end services, has become a critical engine for sustaining economic momentum, as their expenditures contribute disproportionately to overall demand, helping to prop up the broader economy.

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EP 264: Maximize Your Investment: Strategies for Using the 1031 Exchange

Fri, 28 Feb 2025 14:26:00 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP®, hosts of the Trust the Plan Podcast, discussed the intersection of Big Ten basketball, focusing on Michigan and Michigan State, while also diving into an important financial topic—1031 exchanges. Nick, with his extensive experience in real estate, shared firsthand insights into how clients often come to him seeking advice after selling property and wanting to avoid paying taxes on the gain.

They explored the possibilities within the 1031 exchange framework, explaining how this rule allows investors to defer taxes by reinvesting in similar property. Their conversation provided valuable guidance for those navigating the complexities of real estate investments.

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EP 263: Perception vs. Reality: Understanding Your Money Mindset

Mon, 17 Feb 2025 09:27:52 -0500

On the Trust the Plan Podcast, Jim Pilat, CFP® and Preston Gee, CFP® discuss the concept of "money dysmorphia," a psychological phenomenon where people perceive themselves as having more financial stability or wealth than they actually do.

They explained how this distorted view can lead to poor decision-making and unhealthy financial habits, as people might feel financially secure when, in reality, they’re not. They emphasized that our feelings about money and finances often don’t reflect the true reality of our situation, pointing out that our perceptions can be misleading and cause unnecessary stress or overconfidence.

It’s a reminder to develop a clear, honest understanding of our finances rather than relying on a skewed sense of security.

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Tue, 03 Dec 2024 14:46:51 -0500

In this feel-good edition of the Trust the Plan Podcast, Nick Hopwood, CFP®, and Jim Pilat, CFP® wrap up the 2024 Michigan football season with a thrilling victory over Ohio State, extending the Wolverines' winning streak to an impressive four years. As Michigan closes out the season, Nick and Jim celebrate the teamwork, strategy, and perseverance that have propelled the team to this remarkable achievement.

Join them as they reflect on the season’s highs and lows, the enduring rivalry with OSU, and the shared lessons in success—both on the field and in financial planning. Go Blue!

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EP 255: The Freedom of Financial Clarity: Why Tracking Your Net Worth Matters

Mon, 18 Nov 2024 09:46:10 -0500

On this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® dive into the critical yet often overlooked aspects of personal finance: tracking expenses and calculating your net worth.

They discuss how regularly monitoring where your money goes can lead to smarter spending decisions, and why understanding your net worth is a powerful tool in building long-term wealth.

Whether you're just starting to get a handle on your finances or you're refining your approach, Nick and Jim offer practical tips and insights to help you stay on track, avoid common financial pitfalls, and ultimately trust the plan you've set for your financial future.

Tune in for actionable advice and real-world strategies to make your money work for you.

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EP 254: Dinner Table Webinar: Creating a Lasting Family Financial Foundation

Mon, 11 Nov 2024 09:26:09 -0500

Join us for our special Dinner Table Webinar hosted by Nick Hopwood, CFP®, Jim Pilat, CFP® and Preston Gee, CFP® of Peak Wealth Management.

Following the success of our recent in-person seminar, which sparked lively conversations and insightful financial discussions, many clients who couldn’t attend requested this virtual session.

The webinar focuses on helping families build a strong financial foundation for future generations, with strategies for supporting children and grandchildren while preserving a lasting legacy.

Don't miss this opportunity to learn from the experts and deepen your understanding of multigenerational wealth planning.

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EP 253: Inspiring the Next Generation: Olivia Olson’s Path to Michigan Basketball

Fri, 08 Nov 2024 13:51:37 -0500

On this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® sit down with Olivia Olson, a freshman basketball player for the University of Michigan, at Peak Global HQ.

Olivia shares her journey through the recruiting process, her experience as a student-athlete at Michigan, and the unique challenges and rewards of being part of such a prestigious program.

She also reflects on the significance of wearing the iconic Block M, particularly for young girls who look up to her as a role model.

With insights on both her athletic journey and her academic pursuits, Olivia’s story is an inspiring example of dedication, talent, and the power of representation.

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Wed, 23 Oct 2024 15:54:44 -0500

In this episode of the Trust the Plan Podcast, hosts Nick Hopwood, CFP® and Jim Pilat, CFP® dive into the often-overlooked topic of what happens to Health Savings Account (HSA) funds when the account holder passes away.

They’ll discuss the importance of beneficiary designations, the tax implications for heirs, and strategies to ensure your health savings continue to serve your loved ones.

Join Nick and Jim as they clarify the complexities surrounding HSAs and offer actionable advice to help you secure your financial legacy.

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EP 248: Behind the Mic: Steve Gruber's Path to Success

Mon, 14 Oct 2024 08:26:39 -0500

In this episode of Trust the Plan Podcast, host Nick Hopwood, CFP® sits down with renowned radio personality Steve Gruber to delve into his fascinating career journey. They discuss his experiences interviewing high-profile figures like RFK Jr., the challenges he faced while navigating the radio industry during the tumultuous COVID era, and the evolving landscape of media today.

Steve shares insights on building a successful platform amidst uncertainty and the importance of staying true to one's voice in an ever-changing world.

Tune in for an engaging conversation filled with behind-the-scenes stories and invaluable lessons from a seasoned pro!

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EP 246: Inflation Resilience: Why Ferrari Thrives While Dollar General Struggles

Mon, 30 Sep 2024 07:58:57 -0500

In this episode of the Trust the Plan Podcast, hosts Nick Hopwood, CFP® and Jim Pilat, CFP® delve into the contrasting performances of Ferrari stock and Dollar General amid today's economic challenges.

While Ferrari, a luxury brand, continues to thrive, showcasing resilience against inflation, Dollar General faces declining sales as consumers tighten their budgets.

The discussion highlights how high-end luxury items often appreciate in value, even in tough times, while staple goods retailers like Dollar General struggle as economic pressures mount.

Join us as we unpack the implications of these trends and what they mean for investors navigating this unique market landscape.

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EP 245: Rate Cuts and Market Moves: What’s Next?

Tue, 24 Sep 2024 08:21:12 -0500

In this episode of the Trust the Plan Podcast, hosts Nick Hopwood, CFP® and Jim Pilat, CFP® delve into the recent drop in money market rates following the Federal Reserve's latest rate cut. While the immediate effects of lower rates can seem beneficial, they argue that the focus should be on longer-term investments and fixed income strategies.

The discussion highlights historical trends, examining how the S&P 500 has performed twelve months after rate cuts, drawing insights from data spanning back to 1929.

Tune in for a thoughtful analysis on navigating these changing financial landscapes.

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EP 244: From Peaks to Pits: The Full Picture of the Magnificent Seven Stocks

Mon, 09 Sep 2024 09:44:07 -0500

On the latest episode of the Trust the Plan Podcast, hosts Nick Hopwood, CFP® and Jim Pilat, CFP® delve into an intriguing article titled The Magnificent Memory Hole, which explores the "Magnificent Seven" stocks that have significantly outperformed the market.

Despite their impressive gains, the discussion highlights a crucial point: these companies faced substantial downturns in their histories. The conversation underscores that while the current market conditions may appear favorable, it's essential to remember the volatility these stocks experienced. Nick and Jim emphasize that the substantial rewards associated with these high-flying stocks come with considerable risks, and historical market fluctuations often get overlooked.

Listen to our podcast or watch the video below to learn more.

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Mon, 22 Jul 2024 07:52:31 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth welcome you to explore the Peak Process, a comprehensive approach designed to empower clients on their journey to financial success.

At Peak Wealth, we believe in crafting personalized strategies that align with your unique goals and aspirations. Our process begins with a deep understanding of your current financial landscape and ambitions, followed by strategic planning and implementation tailored to maximize your wealth potential.

With a commitment to transparency, education, and proactive communication, we guide you through each phase, ensuring clarity and confidence in every financial decision.

Discover how the Peak Process can transform your financial future and embark on a path towards achieving your peak wealth goals today.

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EP 236: Market Reaction: Stocks and the Ripple Effect of Major Events

Mon, 15 Jul 2024 11:02:58 -0500

Join hosts Nick Hopwood, CFP®and Jim Pilat, CFP® on the Trust the Plan Podcast, where they delve into the intricate world of stock market behaviors following geopolitical upheavals and pivotal historical moments.

In this episode, they explore how stocks react to these events, offering deep insights into market trends, investor sentiment, and the strategies that emerge in the aftermath.

Whether it's analyzing market returns post-crisis or dissecting the impact of global shifts on investment portfolios, Nick and Jim are your go-to podcast hosts for understanding the dynamic interplay between world events and financial markets.

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EP 235: Buyer Beware: Avoiding Common Annuity Mistakes

Mon, 08 Jul 2024 10:27:23 -0500

Welcome to the Trust the Plan Podcast with Nick Hopwood, CFP® and Jim Pilat, CFP®. In this episode, we're diving deep into the world of annuities with a focus on buyer beware. Annuities can be complex financial instruments, often carrying hefty penalties if terminated early.

Nick and Jim discuss the importance of understanding these penalties and exploring the best strategies for navigating annuities wisely.

Whether you're considering an annuity for retirement planning or evaluating your current financial portfolio, join us as we unpack the crucial factors to consider when choosing the right path forward.

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EP 234: Planning for Longevity: Strategies from Successful Retirees

Mon, 01 Jul 2024 13:27:04 -0500

Welcome to the Trust the Plan Podcast with hosts Nick Hopwood, CFP® and Jim Pilat, CFP® where we delve into real-life case studies and expert insights on preparing for retirement and navigating the uncertainties of the future.

Join us as we explore success stories and lessons learned from individuals who have achieved peak wealth sharing, offering actionable strategies for financial preparedness and resilience.

Whether you're looking to secure your retirement, plan for the unknown, or simply gain a deeper understanding of wealth management, our podcast aims to equip you with the knowledge and confidence to trust your plan for a prosperous future.

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EP 233: Beware the Cash Trap: High Interest Rate Hazards

Wed, 26 Jun 2024 14:24:31 -0500

In this episode of Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management delve into the dangers of Americans chasing high interest rates, exploring how the allure of high returns can lead to a 'cash trap'.

They dissect insights from a recent Wall Street Journal article, offering practical advice on navigating the complex world of financial investments and avoiding potential pitfalls.

Tune in as they uncover the hidden risks and discuss strategies for making informed financial decisions.

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Tue, 28 May 2024 07:43:00 -0500

In this episode of the Trust the Plan Podcast, we delve into a topic that's frequently raised by our clients: navigating inherited IRAs. Join our hosts, Nick Hopwood, CFP® and Jim Pilat, CFP® as they expertly guide us through the intricacies of inherited individual retirement accounts (IRAs) and share invaluable strategies for mitigating taxes associated with them.

Inherited IRAs present unique challenges and opportunities, often requiring careful planning and informed decision-making. Nick and Jim draw upon their extensive experience and deep understanding of financial planning to unravel the complexities surrounding inherited IRAs, offering actionable insights tailored to our listeners.

Don't miss this insightful conversation on Trust the Plan as we equip you with the knowledge and tools necessary to navigate inherited IRAs effectively and trust the plan for a secure financial future.

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EP 228: Celebrating Success: Reflections on the No-Spend Month Journey

Mon, 20 May 2024 08:25:39 -0500

Welcome to Trust the Plan podcast! In this special episode, Nick Hopwood, CFP® talks with Preston Gee, CFP® on his transformative journey: a month of eliminating all unnecessary expenses.

Together, they delve into the intricacies of financial discipline, sharing personal insights, practical tips, and inspiring anecdotes. From budgeting basics to creative ways of finding free entertainment, the duo offers a roadmap to navigate the challenges of curbing unnecessary expenses.

Tune in as they explore the power of mindfulness in consumption and highlight the joys of living within means. Join us on this empowering adventure of embracing frugality and building a brighter financial future.

Let's trust the plan and embark on this no-spend month together!

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EP 227: Empowering Your Finances: What a Financial Planner Can Do for You

Mon, 13 May 2024 07:54:35 -0500

Welcome to Trust the Plan Podcast with your hosts Nick Hopwood, CFP® & Jim Pilat. CFP®! In this episode, we delve into the intricate world of financial planning, uncovering the crucial role of financial planners and the comprehensive coverage of a well-crafted financial plan.

Join us as we demystify the responsibilities of financial planners, who act as guides on your journey to financial success. From understanding your financial goals to navigating complex investment strategies, they are your trusted allies in securing your financial future.

Nick and Jim also explore the multifaceted layers of a financial plan. From budgeting and saving to retirement planning and wealth management, a robust financial plan covers every aspect of your financial life. We break down the essentials, empowering you to make informed decisions and take control of your finances.

Whether you're a seasoned investor or just starting on your financial journey, this episode offers invaluable insights into the pivotal role of financial planners and the comprehensive coverage of a personalized financial plan.

Tune in and trust the plan for a brighter financial future!

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EP 226: The Retirement Blueprint: A Checklist for Every Age

Mon, 06 May 2024 13:33:30 -0500

Welcome to the Trust the Plan Podcast with Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management.

In this episode, we delve into the essential topic of retirement planning with a comprehensive checklist. Join us as we guide you through the crucial tasks to tackle at various stages of your life leading up to retirement. Whether you're in your 20s, 30s, 40s, or beyond, we've got you covered with expert insights and actionable advice to help you secure your financial future.

Tune in now and take control of your retirement journey!

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EP 225: Navigating the Mortgage Maze: Pay Off or Invest?

Mon, 29 Apr 2024 08:40:19 -0500

Welcome to Trust the Plan, the podcast where we break down financial decisions to help you make informed choices.

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® dive into a common dilemma: Should you prioritize paying off your home with a lower interest rate quickly, or invest your dollars in a money market when rates are higher?

Join us as we explore the pros and cons of both strategies. Are you a believer in the peace of mind that comes with owning your home outright? Or are you tempted by the potential returns of investing in a money market account during times of higher interest rates?

Our experts will guide you through the decision-making process, providing insights into factors such as risk tolerance, market conditions, and long-term financial goals. Whether you're a homeowner looking to build equity or an investor seeking maximum returns, this episode will help you weigh your options and trust the plan that's right for you.

Tune in to Trust the Plan and empower yourself to make confident financial decisions.

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EP 224: Why Presidential Elections Shouldn't Dictate Your Investment Decisions

Tue, 23 Apr 2024 07:58:51 -0500

Join Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management as they delve into Nick's illustrious 25-year journey in the finance industry.

Nick mentions that throughout his career, clients frequently come to him during an election year asking how it could impact their investments. As we near closer to the U.S. Presidential Election in November, Nick and Jim debunk common misconceptions surrounding the impact of political cycles on financial markets.

Through insightful analysis and expert commentary, we uncover the underlying factors that truly drive investment success.

Hosted by seasoned financial professionals, Nick & Jim - this podcast provides listeners with actionable advice to help navigate the complexities of investing with clarity and confidence, regardless of the political landscape.

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Tue, 19 Mar 2024 12:05:38 -0500

In this episode of the Trust the Plan Podcast, Jim Pilat, CFP® and Preston, Gee, CFP® of Peak Wealth Management take a deep dive into the highly-anticipated Preston Gee 2024 Financial Plan. Gain a perspective from a younger generation — as Preston discusses changes from 2023 to 2024- including marriage, buying his first new home, and paying off student loans. Learn how Preston's financial plan can guide you on the path to your own financial success – tune in now and start building your brighter tomorrow. Share this episode with your child, grandchild, or someone you know who could benefit from developing healthy money habits!

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EP 219: Financial Foundations for Kids: A Guide for Parents

Mon, 11 Mar 2024 09:46:32 -0500

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management are diving into the important topic of financial foundations for kids and guiding parents on how to instill good money habits in their children. Nick says he was inspired while attending a conference where he connected with Scott Donnell, founder of GravyStack. Nick and Jim discuss the significance of starting financial education early, the role parents play in shaping their children's financial behavior, and practical strategies to teach kids about saving and spending responsibly.

Join us as we explore the keys to setting your child on the path to financial success and fostering a healthy relationship with money.

Stay tuned for valuable insights and actionable tips to help your children build a strong financial future.

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EP 218: Cracking the Longevity Code: Secrets to a Longer, Healthier Life

Mon, 04 Mar 2024 08:30:10 -0500

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® talks with Jim Pilat, CFP® about his experience meeting Dr. Michael Roizen, author of The Great Age Reboot: Cracking the Longevity Code for a Younger Tomorrow. In Dr. Roizen's book, he explores the latest advancements in longevity research and shares valuable insights on how we can all unlock the secrets to living a longer, healthier life.

From cutting-edge science to practical tips and strategies, Nick breaks down the key factors that contribute to aging and how we can defy the odds to turn back the clock.

Tune in to discover how you can harness the power of longevity to create a brighter, healthier future for yourself.

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Mon, 05 Feb 2024 10:19:17 -0500

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management delve into the relationship between politics and the U.S. market. Join us as we explore the historical patterns of market behavior during election years, discuss the potential implications of various election results on different sectors, and offer insights on how investors can prepare themselves for potential market volatility. Tune in to gain a deeper understanding of the election effect on the market as a way to make informed decisions for your investments.

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EP 213: Thriving Through Transitions: Post-Retirement Valleys Explored

Mon, 29 Jan 2024 14:51:43 -0500

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management delve into managing finances in the post-retirement valley. Nick and Jim uncover the challenges retirees face after leaving the workforce — while offering practical advice to overcome them. This dynamic financial duo aims to provide support and guidance for those in this transitional phase.

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EP 212: Mastering Retirement: The 8 Essential Ages for Financial Success

Mon, 22 Jan 2024 08:23:54 -0500

In the Trust the Plan Podcast, hosts Nick Hopwood, CFP® and Jim Pilat, CFP® share valuable insights on the eight most important ages in retirement planning. They delve into the significance of each milestone and how it affects an individual's financial outlook.

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EP 211: 2024's Game-Changer: The 529 Rollover into IRA Explained

Mon, 15 Jan 2024 09:54:34 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about how families who are saving for education in 529 plans are now allowed to roll over unused funds from those accounts into Roth individual retirement accounts (IRA) without incurring tax penalties. There are a few limitations to the new rollover measure - Join our conversation to learn everything you need to know about planning for your child's financial future!

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EP 210: Maximizing Tax Benefits: How Donor-Advised Funds Can Help

Mon, 08 Jan 2024 10:11:24 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management dive into the concept of donor-advised funds, a popular and effective tool for charitable giving. One of the key benefits of donor-advised funds is the ability to make recommendations on how the funds should be distributed to specific nonprofits and causes, while also receiving potential tax benefits. We discuss the various aspects of DAFs, including their flexibility, ease of use, and potential for creating a lasting philanthropic legacy. Join our conversation to learn more about how its potential to transform charitable giving.

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EP 209: Health Care Coverage for Retirees

Tue, 02 Jan 2024 08:58:13 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP of Peak Wealth Management open up the episode by sharing an update on EP 202 — where the duo talks about the importance of having money dates with your spouse. Nick shares his most recent experience where him and his wife carved out time dedicated to talk about finances.

After the beginning discussion, Nick and Jim delve in on health care coverage for retirees. With the high cost of health insurance to Medicare being available for people 65+, what is your best option in retirement? Grab a notebook & pen, because this is an episode you'll want to take notes on.

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EP 208: Next Level Investing: Mega Backdoor Roths

Tue, 26 Dec 2023 10:24:42 -0500

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management dive into the benefits of Mega Backdoor Roths. This kind of Roth takes investing to the next level — It enables you to take the after-tax dollars you contribute and roll them into a Roth IRA. Get ahead of the game for your finances in 2024 — This is an episode you won't want to miss!

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EP 207: Making Smart Housing Decisions in Retirement

Mon, 18 Dec 2023 13:57:53 -0500

Making smart housing decisions in retirement is a crucial part of planning for this new chapter in life.

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss various factors to consider while planning — such as evaluating affordability (and unexpected items not accounted for such as increase in taxes) & exploring options like downsizing or renting.

Making informed and thoughtful housing decisions ensures that retirees can enjoy their golden years with comfort, security, and overall well-being.

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EP 206: Retirement Investing: Dave Ramsey’s 8% Withdrawal Rate

Mon, 11 Dec 2023 12:02:29 -0500

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss Dave Ramsey's concept of an 8% withdrawal rate in retirement.

The personal finance expert recently landed in hot water after an on-air rant about the popular 4% rule for retirement withdrawals.

It all started when a 30-year-old man with $120,000 already saved for retirement called into “The Ramsey Show” to ask what percentage of his assets he should plan to withdraw in retirement over a 30-year time period.

Ramsey's retirement advice has landed like a lead balloon among other money professionals, with some calling his rate suggestion "scary," and "incredibly dangerous."

So, how do you figure our what's right for your retirement?

Listen to our episode to learn more.

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EP 205: From Mine to Ours: The Ultimate Guide to Joint Bank Accounts in Marriage

Mon, 04 Dec 2023 09:23:51 -0500

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® talk about how financial transparency and unity are fundamental to a successful partnership — and how joint bank accounts can be a powerful tool in achieving that.

Join us as we explore the financial advantages, strategies for managing joint accounts, and tips for open communication and shared financial goals.

Whether you're newlyweds or have been married for years, this podcast is your go-to resource for unlocking the potential of joint bank accounts and building a strong foundation for your shared financial future.

Let's embark on this journey together and discover how joint bank accounts can pave the way for a prosperous marriage.

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EP 204: Maximum Benefits and Contribution Limits for 2024

Mon, 27 Nov 2023 09:21:48 -0500

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® share updates regarding maximum benefits and contribution limits for 2024. The IRS announced adjustments for various retirement plans, including 401(k), IRA, and Roth IRA accounts. These updates mean that you now have even more opportunities to maximize your contributions towards your retirement accounts, ensuring a brighter financial future. Plan ahead for 2024 - This is an episode you won't want to miss!

Listen to our podcast or watch our video below to learn more. For those joining us on YouTube, subscribe to our channel to be notified when a new video is launched.

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EP 203: Mint Shutdown: What Should Mint Users Do Now?

Mon, 20 Nov 2023 12:10:39 -0500

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® discuss the upcoming shutdown of the budgeting app, Mint. As of January 1, 2024, Mint is leaving its users without a tool they've relied on for budgeting and financial management. Fear not! We've got the perfect solution for our listeners - Peak's Expense & Net Worth Tracking spreadsheet. This free and user-friendly tool allows you to effortlessly track your expenses, categorize them, and visualize your net worth. Join us in this episode as we talk more about the Mint shutdown and recommend our Peak alternative to help you have peace of mind when it comes to your finances. Hit that play button and let's get started!

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EP 202: What is a Money Date? & How Can It Help Your Financial Future?

Mon, 13 Nov 2023 08:38:52 -0500

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about the benefits of a money date — and the impact it can have on your financial future.

A money date is a way for you and your significant other to come together and talk about money and the things that matter most in a way that makes you comfortable and makes finances more understandable. It’s a scheduled conversation—a date—around your money, as well as your goals, your values, your priorities, and what you want to accomplish in life. It’s important to schedule the time so that you can both prepare and not get overwhelmed.

Money is power. Money gives you choices. It gives you options. And it helps you to reach your goals. You don’t want to give away your power. You don’t want to give away your options. And you don’t want to give away your control. By getting on the same page as your significant other, you’re leveling the playing field, getting a seat at the table, and having a voice in what your financial picture looks like.

Listen to this episode to learn more about how to get the conversation started.

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Mon, 09 Oct 2023 08:10:10 -0500

In today's episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss the two main reasons why more people are choosing to skip home insurance, as outlined in a recent Wall Street Journal article.

We'll be taking a closer look at the financial and psychological factors that influence this decision, including the rising cost of premiums and the optimism bias that can lead people to underestimate their own risk.

Whether you're a homeowner yourself or simply interested in understanding the risks and rewards of home insurance, this episode is not to be missed.

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EP 196: Rounding Up At The Register

Mon, 02 Oct 2023 08:56:23 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about businesses that ask you to "round up" for donations. This tactic has become increasingly popular among businesses, including supermarkets, gas stations, and restaurants. Essentially, when you make a purchase, the business will give you the option to "round up" to the nearest dollar or another amount, with the difference going towards a charitable cause. While this may seem like a simple way to give back, some people are skeptical of the practice and question whether businesses are using this as a way to boost their own public image and profits.

We will be discussing the pros and cons of "round up" donations, whether they actually make a difference, and the ethical considerations businesses should take into account when implementing these programs.

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Don’t Retire...Graduate! feat. Eric Brotman, CFP®

Mon, 25 Sep 2023 08:45:00 -0500

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management had the pleasure of speaking with Financial Advisor, Eric Brotman. Eric has been working in the financial industry for over 25 years and has a wealth of knowledge to share. Along with being a CFP® living in Maryland, Eric also is an author & host of the Don't Retire...Graduate! Podcast. Tune in now to hear from one of the top financial advisors in the industry.

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EP 195: Mastering the Withdrawal Phases of Retirement

Mon, 18 Sep 2023 13:07:29 -0500

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about a recent article they read where it highlights 7 steps someone must take to make a retirement withdrawal. Overall, the duo believes the article missed the mark... saying there's a lot more that needs be taken into consideration. Learn more from this powerhouse financial duo on what you need to think about while making retirement withdrawals. This is an episode you won't want to miss!

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EP 194: Exploring September Economic Trends 2023

Mon, 11 Sep 2023 09:02:01 -0500

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about a recent TikTok video where a woman compares the work ethic and goals between Gen Z & Boomers. Nick and Jim delve into her reasoning while sharing their thoughts on both generations.

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Mon, 07 Aug 2023 11:11:06 -0500

Welcome to today's episode of the Trust the Plan Podcast, where Nick Hopwood, CFP® and Jim Pilat, CFP® discuss the recent news that Fitch, one of the major credit rating agencies, has downgraded the U.S. economy's debt rating from AAA to AA+.

In this episode, we'll explore the implications of this news for the U.S. economy, investors, and taxpayers. We'll also discuss what this downgrade means for the U.S. government's ability to borrow money and what steps it can take to address its debt challenges. So sit back and join us as we dive into this important topic.

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EP 189: The Keys to Olivia Atkin’s Success in Podcasting, Writing, and Entrepreneurship

Mon, 31 Jul 2023 12:14:19 -0500

Join us for an inspiring episode with Nick Hopwood, CFP® and Jim Pilat, CFP® as they delve into the life and career of Olivia Atkin, a podcaster, author and successful entrepreneur. We'll examine the key moments and experiences that have shaped her journey. As the host of the Achieving Success Podcast, she has captivated audiences with her informative and engaging discussions. Her book, Achieving Success in Career Development, has inspired countless readers with her insightful perspectives and practical advice. As an entrepreneur, she has built her own successful business from scratch, inspiring others to follow in her footsteps. In this episode, we'll explore the journey of Olivia's career and discover the secrets to her success. So put on your headphones, grab a pen and paper, and get ready to dive in!

Order Olivia's book here.

Live your life by design with Peak's Blueprinting Process. Learn more here.

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