S12 E5: Smells Like Money Podcast: Financial Wellness for Wastewater Pros Series- Part I: Selecting the Right Financial Advisor

In this insightful episode of The Doo Doo Diva’s Smells Like Money Podcast, host Suzan Chin-Taylor kicks off a three-part series on Financial Wellness and Retirement Planning for professionals and entrepreneurs in the wastewater industry. Joined by guest Steve Selengut, a seasoned investment expert and author, they dive into the critical topic of selecting the right financial advisor to secure your financial future.

Host: Suzan Chin-Taylor | Guest: Steve Selengut

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Key Discussion Points:

Why financial literacy is essential, even for industry veterans.
What to consider before approaching a financial advisor.
Steve’s philosophy on income-focused investment strategies for retirement.
The pitfalls of market-focused portfolios and how to avoid common mistakes.
Understanding fee structures: fiduciary advisors vs. commission-based brokers.
How to ensure your financial advisor aligns with your long-term goals.

Whether you’re planning your retirement, thinking about an exit strategy for your business, or simply aiming to protect your hard-earned income, this episode provides actionable advice to guide you in making sound financial decisions.

Key Takeaways from This Episode:

Start with Clear Objectives: Define your financial goals before consulting with an advisor. Understand your need for income replacement and inflation protection in retirement.
Ask the Right Questions: Inquire about fee structures, profit-taking strategies, and income-focused investments. Avoid “set-it-and-forget-it” portfolios.
Think Beyond Market Value: Steve emphasizes the importance of consistent income generation rather than solely relying on fluctuating market value.
Know the Risks of Model Portfolios: Discover why these one-size-fits-all solutions may not be the best option for building sustainable wealth.
Leverage Employer-Sponsored Programs: If your employer offers retirement matching programs, maximize their potential for long-term growth.

Connect with Dave Smoljan and Extra Air:

Steve Selengut – The Retirement Income Coach

Website: https://theincomecoach.net/

LinkedIn: linkedin.com/in/privateinvestmentmanagement

Email: Steve@theincomecoach.net

Final Thoughts:

This episode serves as a vital reminder that financial wellness is not just about saving—it’s about being proactive, informed, and intentional with your hard-earned money. Steve Selengut’s practical insights encourage listeners to shift their mindset toward income-focused investments and careful financial planning. Whether you’re an industry employee or an entrepreneur, taking control of your financial future starts with making smart decisions today.

By understanding the questions to ask and the strategies to adopt, you can ensure your financial advisor aligns with your goals, protects your assets, and helps you build a secure, sustainable retirement plan. As Suzan and Steve emphasize, financial literacy is the cornerstone of long-term success.

Stay tuned for the next episode in this impactful series, where we’ll dive into exit strategies for entrepreneurs—a must-listen for business owners planning their legacy and future. Until then, take Steve’s advice to heart, keep learning, and as Suzan always says, keep it flowing!

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Don’t forget to subscribe to the Smells Like Money Podcast for more insights and innovations in the wastewater industry. Follow us on creativeraven.com/podcast-episodes for updates and more episodes.

I hope you find this episode as informative and as exciting as we have.

Please let us know your thoughts about the episode!

Connect with Suzan Chin-Taylor, host of The DooDoo Diva’s Smells Like Money Podcast:

Website: www.creativeraven.com | https://thetuitgroup.com/

LinkedIn: https://www.linkedin.com/in/creativeraven/

Email: raven@creativeraven.com

Telephone: +1 760-217-8010

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https://creativeraven.com/smells-like-money-podcast/

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