Announcer  00:08

Flying high above the metropolis. It’s The Roth Guy with holistic wealth advisor, Jude Wilson.

Marc Killian  00:19

Hey, everybody, welcome into the podcast with Jude and myself as we talk investing finance, retirement taxes and The Roth Guy, Jude, and I’ve been doing a podcast dude, for what about three years? Yeah, I think something like that. Or even longer than that, maybe even longer than that in audio form only and, and we decided to do or you decided to rebrand a little bit because the world is changing, and we want to focus a little bit more, your focus is changing as a firm as a practice as well. So we really want to talk about what folks can expect of our new podcast, a new variation of the raw. How are you doing my friend? 

Jude Wilson  00:53

I’m doing excellent. I’m so happy to be here. So happy. People don’t know we’ve had a little technology issues behind the scenes. So I’m happy that things are finally working. We hope.

Marc Killian  01:03

Fingers crossed. Right? Yeah, exactly. So

Jude Wilson  01:08

show for a while. Finally, it’s probably be doing it.

Marc Killian  01:12

Yeah, yeah. So tell me about the idea. So give us the listeners and the viewers and people who are coming over from our old podcast to you know what to expect.

Jude Wilson  01:20

It spawned from the work that we do at the firm, and seeing how people just don’t have an understanding about how taxes could be their biggest expense. Now, we use the Roth guy personally, with with your help in in trying to get people’s attention. But the show is not going to always be about Roth and tax free investing, we’re going to look at financial planning, from a tax efficient standpoint, everything that you would normally do in financial planning, looking at the most critical areas, like estate planning, retirement planning, but from a standpoint of trying to be the most tax efficient, because every dollar you pay toward taxes is $1, that you don’t get to benefit from. Now, I’m not one of these conspiracy theorists that say, you don’t have to pay taxes, we all have to pay taxes, gotta pay our share. Exactly. But like in any good superhero movie, there’s always a guide, there’s always a villain, and there’s always a hero, the audience is the hero. We’re trying to help you. I’m trying to help be the guide. And, you know, taxes may be the villain, I don’t want to. Well, you know that far? Yeah.

Marc Killian  02:37

I mean, you know, you and I are, you know, joking. I’m sitting in a Batman chair, actually. So you’re joking that, you know, there’s a lot of villains in some of these different stories. And so if you think about inflation, taxation, if you think about just, you know, the various risk market risk, you know, there’s a lot of villains out there in this story, if you will, right. And so yeah, if the ultimate hero hopefully is the person of the personals, the person’s personal finance, their retirement setup, whatever it might be, from a monetary situation, that yeah, we’re gonna try to guide them with some information and education along the way. And, you know, you and I were talking Dude, we don’t want it to be political, because everything in this world is, but sometimes policy obviously affects what we can do financially. So we may have to touch on it here and there. But the goal is going to be to focus on how policy affects and drives whatever narrative, right? I

Jude Wilson  03:32

couldn’t have said it better. And particularly at this point in time in our country’s history. When you look at the national debt, and you look at what’s about to happen in the next couple years, sometimes I feel like Paul Revere, instead of saying the British are coming, I’m saying the taxes are coming, the taxes are coming. So we got to be proactive. One of the things we’re going to talk about in future episodes is the tax cuts and Jobs Act, which is going to expire in a couple of years. And how is that going to have a personal effect on your finances. So, you know, you and I like to have a lot of fun, but we want to be educational. We want to give some resources. In fact, just so that our audience knows we’ve got a website called the tax bomb.com. There’s a ton of resources on there, we’re going to be adding more resources. Each episode, we’re going to be having guests on the episode that have specific knowledge and areas that people can we can really learn some things. And we’re gonna have some case studies too, so that you can relate and take some value real value out of the show and act on it. There

Marc Killian  04:40

you go. Perfect, right. So if you want to check that out, it’s the tax bomb.com. If you’re watching this in video form, you’ll see that pop up on the screen. If you’re checking it out, we’re still going to be an audio because it’s gonna still be on Apple podcasts and Spotify in audio form, but also on YouTube. So make sure that you’re checking it out. Subscribe to us on whatever platform you like using that will you catch it? New Content, of course Jude and his team are going to be sending out things in their newsletters, and so on and so forth. If you got some questions as, as always, whenever you’re listening to anything, whether it’s Dave Ramsey or anybody else, when you’re talking about financial information, always see how it relates to your specific situation before you take any action, right. So that’s something that we’re going to try to make sure we, you know, hammer home, dude through this conversation. So we’re going to look at, you know, the national deficit, we’re going to look at, you know, we’re going to kind of start at the beginning for a lot of folks who maybe some of that information will be a rehash, nothing wrong with that. But the differences between Roth and traditional, looking at different retirement vehicles and things of that nature, so just a lot of good stuff to go over. Yeah.

Jude Wilson  05:40

And I think setting that foundation of, okay, here’s the problem. And without any political spin, here’s what we’re facing. Here’s some things that you should be aware of, in trying to be proactive in your life. I mean, it we’re going to really have some fun, but we’re really going to educate people, and we’re going to give them some tools that they can use, and talking about the national debt is is probably the first place to start from because that’s the basis of all tax policy is trying to figure out how can we pay this thing down?

Marc Killian  06:15

Yeah, well, what are we 33 $34 trillion in debt?

Jude Wilson  06:21

Every time I check it, it’s, it’s gone up. So

Marc Killian  06:23

a higher

Jude Wilson  06:25

number today, it’ll be twice as big tomorrow.

Marc Killian  06:27

Today, it’ll be it’ll be bigger than, you know. 30 seconds, right. But you know, the, the retirement accounts that are out there, 401, K’s, IRAs, Roth, whatever, you will lump them all together, tsps. There, let’s 40 estimated between 40 and $50 trillion sitting out there. In these accounts. That’s a big text target, you know, depending on what account type of account is in, which is again, why we’re going to explain some of this stuff.

Jude Wilson  06:53

Absolutely. In fact, in a future episode, because we we’ve talked about ROVs, and we’re not gonna shy away from this the title of the show, but you know, people are doing Roth conversions to have moved that money from taxable accounts to tax free accounts. But one of the scenarios, we’re going to talk about a real life scenario that happened with one of my clients, he was actually doing too much in Roth conversions before we met him, and how that negatively affected him. While he didn’t realize it was negatively affecting him until we brought it up and showed him what he shouldn’t be doing. So it’s real world information.

Marc Killian  07:29

Yeah, exactly. Well, you know, actually, we’ll probably wrap it up here. We won’t keep folks for too long, because we’re going to come back with our second episode of the Roth guy. And we’re going to kind of break down just, you know, just go again, through some basic information, what’s the difference is in these types of accounts, and what some things that we need to know. So make sure you hit subscribe and check us out. And we certainly are going to appreciate a job my friend, thanks for talking with me. And looking forward to launching the Roth guy with you.

Jude Wilson  07:53

Yeah, and I want to thank you, too, because you’re the guy that came up with the idea of the leotard and the cape. Thanks. Thankfully, we I did not have to get dressed in that. There was just an image. So the rough guy is the is the guide, but the people are really the superhero.

Marc Killian  08:12

There you go. I like that. Yeah, yeah. He was like, I sent him this picture. And he was like, Oh, my and of course his wife and his staff was like, This is great. You should use this little have to wear it. He said I’ll be alright, so Alright, folks, thanks for hanging out. Don’t forget to hit subscribe on whatever platform you like using and check out the information we’re going to have for you always check the show notes and details of various podcasts when they come up, because there’s a lot of information in there. We’ll have the link in there to go to the tax bomb.com as well as Jude’s main website so that if you do have some questions, you could get yourself onto the calendar. And for now, we’ll see you next time here on the Roth guy.

Announcer  08:51

Financial Planning and advisory services are offered through prosperity Capital Advisors, PCA an SEC registered investment advisor, with its principal place of business in the state of Ohio. Centers financial strategies in PCA are separate non affiliated entities. PCA does not provide tax or legal advice, insurance and tax services offered through centers financial strategies are not affiliated with PCA. information received from this podcast should not be viewed as individual investment advice. Product discussions and illustrations are hypothetical in nature, and will vary based on many factors including but not limited to, age, health, product, insurance, carrier and product design, you should consult the insurance carrier website and policy for detailed information. For information pertaining to the registration status of PCA, please contact the firm or refer to the Investment Advisor public disclosure website, www dot advisor info.sec.gov. For additional information about PCA including fees and services sent for our disclosure statement as set forth on Form ADV from PCA using the contact information here in please read the disclosure statement carefully before you invest We’re setting money