Life Money Balance® Podcast

Want a clear answer on retiring at 50 vs 60 with $1.5M? Book a free retirement readiness call 👉 https://www.concurrentfp.com/
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Is $1.5M enough? In this data-driven case study, Dr. Preston Cherry (Financial Planning Ph.D., Top 10 Investopedia Advisor, Founder of Concurrent Wealth Management) breaks down two real scenarios: retiring at 50 and at 60 - using realistic spending, taxes, and market assumptions. You’ll see h...

In this conversation, Dr. Preston Cherry breaks down a side of retirement most people overlook: the emotional shift. It’s not just about saving enough—it’s about preparing for a whole new identity and way of living. He shares a framework that helps you rethink retirement with tools like identity checks, relationship mapping, and time design. The goal? A life that feels as good as it looks on paper.

Takeaways:
• Confide...

Gen X’s Biggest Money Regrets—And How to Fix Them

Dr. Preston Cherry opens up about the top financial regrets Gen X faces—from late retirement saving to piling on debt. The good news? It’s not too late to turn things around.

In this eye-opening conversation, Dr. Cherry shares how Gen Xers can shift from regret to resilience with simple mindset changes and a values-based wealth plan. Whether it’s saving more, cutti...

Inheriting a Home Shouldn’t Be This Hard…

In this episode, Dr. Preston Cherry breaks down why so many families run into legal trouble when passing down their home—and how a Transfer on Death Deed (TODD) can make things much easier.

Takeaways:
• Avoid probate delays
• Keep control while alive
• Name your home’s heir
• Protect emotional legacy
• Pair with a trust

00:00 Intro
00:58 Th...

In this episode, Dr. Cherry offers thoughtful guidance on navigating the recent rise in Bitcoin’s price. While market excitement is understandable, he reminds us that disciplined investing is not about reacting to headlines—it’s about following a well-crafted financial plan.

Takeaways:
• Don’t chase hype
• Know your crypto types
• Core first, crypto later
• Plan before you invest
• Taxes still apply

In this episode, Dr. Preston Cherry explains how to take advantage of the new rules that could save you 20% on qualified income every year and unlock up to $10 million in tax-free gains when you sell or exit your business. From avoiding costly timing mistakes to structuring smart early, Dr. Cherry breaks down what it really means to build a tax-smart runway.

Takeaways:
• 20% income deduction
• $10M+ capital gains =...

Are Premium Credit Cards Still Worth It?

In this episode, Dr. Preston Cherry breaks down the truth behind those flashy, high-fee credit cards like the Amex Platinum and Chase Sapphire Reserve. Are the perks really that valuable—or are you just paying for status? From overcrowded lounges to scattered benefits, Dr. Cherry reveals what you really need to know before swiping that premium card.

He urges listeners to ta...

Dr. Preston Cherry explains why many Gen Xers are caught off guard when they find out—yes, your Social Security can be taxed. Up to 85% of your benefits could be taxable if your income crosses certain thresholds—thresholds that haven’t kept up with inflation. If you've saved diligently or have extra income from side gigs or investments, you could be looking at a smaller Social Security check than expected. The surprise? It’s a...

Should You Claim Social Security at 62?

Dr. Preston Cherry challenges the idea that you have to wait until 70 to claim Social Security. For Gen Xers juggling aging parents and kids, claiming at 62 could offer more than just a check—it could bring peace of mind, flexibility, and better use of your money now. The key? Making the choice that fits your life, not someone else's rule of thumb.

Takeaways:
• More...

In this episode, Dr. Preston Cherry breaks down why many high-income Gen Xers still feel stuck financially. Even with good paychecks, lifestyle creep and unclear goals can cause stress. Dr. Cherry explains how aligning your money with your values—not just chasing more—can lead to real peace and freedom. It's not about starving your present for your future. It’s about balance.

Takeaways:
• Lifestyle creep adds stre...

In this episode, Dr. Preston Cherry breaks down how Gen X professionals can use a smart tax strategy called Net Unrealized Appreciation (NUA) to turn company stock in their 401(k)s into tax-efficient income. He explains how the right moves can help you retire earlier and keep more of your money—and how one wrong step can cost you big.

Takeaways:
• Company stock matters
• NUA lowers taxes
• Don't rush to IR...

In this episode, Dr. Preston Cherry breaks down the often confusing world of inherited IRAs. He explains how taxes, rules, and recent law changes (like the SECURE Act) can impact your inheritance. Whether you're a spouse or a non-spouse heir, knowing the rules is key to avoiding costly mistakes. With smart planning, an inherited IRA can help grow your wealth and honor your loved one’s legacy.

Takeaways:
• Know the...

In this episode, Dr. Preston Cherry talks about why Gen X should focus on health span—how well you live—not just lifespan—how long you live. He explains that many people over-save for retirement and miss out on living fully now. Instead of treating retirement as one big block of time, he encourages planning for different life stages. The key is to spend in ways that match your current life and values—so you can enjoy life while bui...

In this episode, Dr. Preston Cherry sheds light on why even high-income earners need solid financial education. Earning more doesn’t mean knowing more about money. He explains how true financial literacy helps people make smarter decisions, avoid costly mistakes, and feel more confident. Using real-life examples, he shows that financial wellness is not just about managing money—it’s also about understanding it, emotionally and prac...

In this episode, Dr. Preston Cherry breaks down this old investing rule and why it might not work anymore. Originally tied to London’s horse racing season, the idea was to cash out in May and return in November. But in today’s fast-paced, data-driven markets, that strategy is losing steam. Dr. Cherry explains why staying invested and using smarter tactics beats trying to time the market.

Takeaways:
• Old rule, outdated...

In this episode, Dr. Preston Cherry breaks down why Health Savings Accounts (HSAs) are a powerful tool—not just for today’s medical bills but for building your retirement nest egg. With big tax perks and long-term flexibility, HSAs can do more than you think. Learn how to use them smartly now and in retirement.

Takeaways:
• Triple Tax Advantage
• Max Out Contributions
• Invest for Growth
• Cover Future Heal...

In this episode, Dr. Preston Cherry breaks down key retirement accounts like 401(k)s, Roth IRAs, and traditional IRAs. He explains where to save, invest, and withdraw money for retirement — and why taxes matter. The talk covers contribution limits, tax perks, smart strategies for high earners, and common planning mistakes to avoid.

Takeaways:
• Know where to save
• Use employer plans
• Roth vs. traditional
...

In this episode, Dr. Preston Cherry breaks down a common mistake investors make: thinking the S&P 500 is enough. While it’s a strong index, it’s mostly U.S.-focused and tech-heavy. This “home bias” can hurt your returns, especially during U.S. market downturns. Adding international stocks spreads your risk and gives you access to different economies, industries, and opportunities. History shows: global diversification works.

In this episode, Dr. Preston Cherry challenges the “self-made millionaire” myth, revealing that wealth is rarely built alone. Real success comes from more than just hustle—it’s shaped by support systems, relationships, and access to resources. Using real stories, he reminds us to stay humble and grateful for the help we receive along the way.

Takeaways:
• Success takes support
• Hustle isn't enough
• Netwo...