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

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Monday Apr 14, 2025

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

Monday Apr 14, 2025

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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Monday Apr 07, 2025

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

Monday Apr 07, 2025

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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Monday Mar 31, 2025

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

Monday Mar 31, 2025

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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Monday Mar 17, 2025

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

Monday Mar 17, 2025

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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Monday Mar 10, 2025

EP 266: Tariffs & Inflation: How They’re Shaping the Market Today

Monday Mar 10, 2025

On the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management delve into the current economic landscape, discussing crucial topics like tariffs and inflation. Their conversation provides insightful perspectives on how these factors are influencing the market today. They explore how tariffs, especially with global trade tensions, are impacting prices and supply chains, while also analyzing the broader implications of inflation on investments and consumer behavior. This discussion is timely, offering listeners a chance to connect economic theory to real-world market trends.

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Monday Mar 03, 2025

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

Monday Mar 03, 2025

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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Friday Feb 28, 2025

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

Friday Feb 28, 2025

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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Monday Feb 17, 2025

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

Monday Feb 17, 2025

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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Monday Feb 10, 2025

EP 262: Stock Market Trends: A Historical Look at Major Events Since the 1900s

Monday Feb 10, 2025

On the latest episode of the Trust the Plan Podcast, Jim Pilat, CFP® and Preston Gee, CFP® discuss several hot-button topics, including their Super Bowl predictions (listen to see if they predicted correctly).

The duo goes on to examine the stock market's performance over time, exploring key events since the 1900s. By analyzing historical data and trends, they assess how the market responded to major events and how current shifts in the economy might influence future stock behavior.

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