One Day Advice

🚨 Tax Deadline Reminder! As April 15th swiftly approaches, ensure you've filed your taxes or filed for an extension. Stay ahead of the deadline to avoid any last-minute stress. Let us know if you have any questions or concerns about your 2023 tax filing

🎆 Happy 4th of July! 🇺🇸 Let freedom ring this Independence Day!
As your trusted wealth management partner, we're here to help you navigate your own financial freedom. 🎉💼

Cash serves an important role in your finances. So you better be getting the maximum interest while you have it, while maintaining control and freedom over it.
To learn more or receive a personal invitation for opening an account, please message us and provide your preferred email.

Highlights include:
- Competitive market-adjusted interest rate (currently 4.55%). That's $455/year for every $10,000 deposited. Not something you're going to get with most traditional banks.
- Increased FDIC insurance coverage up to 10x coverage for those who need it
- Zero account fees and no minimum account balance
- Open an account in minutes and seamlessly connect your external accounts for unlimited transfers to/from your new account (Great for paying a mortgage or credit card statements from). Most high-yield savings accounts limit you to only six transactions per month.
- One Consolidated Statement & Tax Form
- Supports a variety of account types, including individual and joint accounts, revocable trusts, businesses, non-profits, partnerships, LLCs and more.

We believe it's worth noting that we do not receive any form of compensation or kickback through this partnership. This offering is simply part of our ongoing effort to deliver better solutions to our clients.

Were you impacted by layoffs at Google? Or do you have a friend who was? Check out the Youtube video Nick Reilly recorded with Fortunately to help bring more clarity for those trying to navigate their benefits and "what's next."
What do you think has been the hardest part about getting laid off?

https://hubs.la/Q01KgVtD0

Were you impacted by layoffs at Microsoft? Or do you have a friend who was? Check out the Youtube video we recorded to help bring more clarity for those trying to navigate their benefits and "what's next." Feel free to share to those who've been impacted.
What do you think is the hardest part about getting laid off?

https://hubs.la/Q01KgP230

Layoffs - Resources for more clarity on "What's Next" Layoffs have impacted so many. Here are some resources you may find helpful in navigating this life event.

Charitable donations provide much-needed resources for organizations doing good, but they also have the ability to reduce your tax burden significantly. Check out this timely article we contributed to regarding year-end giving with cryptocurrencies.

Three Steps for Year-end Giving with Cryptocurrency As a donor, it’s important to understand which assets to donate and the tax benefit you can receive, all while maximizing charitable impact.

"Why did Ethereum show up to the BBQ? Because there was Proof-of-Steak!" - Nick Reilly

Welcome to a new era!

I'm just going to say it. Netflix is helping to perpetuate one of the many problems within financial services. 👇
Despite the description summary, the new "Get Smart with Money" documentary actually features financial "influencers", not financial advisers. Meaning they are not regulated financial professionals. This is highly misleading because "influencers" can say whatever they want, even if it's flat-out wrong or not suitable for the individual, all without the concern of financial regulators cracking down on them.

The Problem: Financial advice has evolved into "What will get the most views/clicks?" People now look for financial advice through mediums of entertainment like Tik Tok & YouTube because it allows people to "justify" their time spent scrolling as "education" instead of entertainment.

Yes, there are also far too many financial advisors that also give non-suitable recommendations that only benefit their own wallets (i.e. insurance products). But at least regulators are able to help w**d out these advisors and remove their licenses (although they don't do this enough!).
However, calling "influencers" financial advisers, as Netflix is doing, misleads consumers of financial advice into assuming they are learning from a licensed professional.

I understand they can be entertaining and there are some quality educators out there. The point is that Netflix and other platforms should not be mislabeling people who have a lot of influence over potentially impactful financial decisions.

So, what can you do?
It's essential to have a financial advisor who is a fiduciary that actually provides personalized holistic advice, and who isn't compensated for selling insurance products.

If you want to learn and be entertained, that's totally fine. Just remember to ask yourself, "Did this person have a financial incentive to say or recommend what they did?"

The truth is:
- Affiliates pay a ton of money to be featured
- Polarizing content gets clicks and sells
- "Too Good to Be True" claims STILL work on people

Education costs have increased at an exponential rate, creating a significant amount of opportunity for well-thought-out financial planning.

In this episode, we discuss the causes for the increased costs and provide information on 529 plans as a solution for self-funding these costs, outside of student loans, in a tax-efficient way.

1:12 - Why tuition costs are increasing exponentially
4:35 - What you can do to plan around education expenses
9:02 - What expenses does a 529 cover, and not cover
10:14 - Alternative methods of funding education expenses
12:37 - FAQ
15:09 - Superfunding a 529 [Planning Strategy]

Listen now: https://hubs.la/Q01jFC8Q0

Schedule your free 30-minute consultation at https://hubs.la/Q01jFRt20 and mention the podcast.

Happy 4th of July! While you already know the story of independence and the 4th of July, what you may not know is what independence means within the financial services industry, why it’s important, and how it likely impacts you.

In this episode, we cover why the quality of financial advice ranges significantly and what you can do to increase the likelihood that you receive great value. Two big factors contributing to this range in quality comes from WHO the advisor works for and HOW they are compensated.

Do you know if your advisor is a fiduciary who is providing advice that's in your best interest? If you're unsure, give this episode a listen today.

Being independent means you have cut associations and dependency from a larger institution freeing you to provide advice that is in the client's best interest.

Schedule your free 30-minute consultation at https://hubs.la/Q01g7BdY0 and mention the podcast.

Listen now: https://hubs.la/Q01g7FCc0

Happy 4th of July! Today, we are thinking of all that has been sacrificed in order to have the freedom and independence that we have today. We are grateful.

With the stock market recently entering a bear market, this is a great time to be considering harvesting any losses that you have to help offset capital gains. In this episode, we provide:

- An overview of capital gains and tax-loss harvesting
- Tips & tricks to implement this strategy on your own
- How to avoid costly mistakes
- The value that tax-loss harvesting can provide

Listen now: https://hubs.la/Q01bRQnt0

Schedule your free 30-minute consultation at https://hubs.la/Q01bRrlw0 and mention the podcast.

Given the recent Terra collapse and the domino effect that it had on the rest of crypto, this is a timely episode that addresses the associated risks with investing in the asset class. Nick provides an overview of the general risks that are unique to crypto, highlights three important historical events that you can learn from, and then describes how you can protect yourself as an investor in this asset class.

Nick finishes the episode with his own outlook on digital assets.

Here are the timestamps if you’d like to skip ahead:

2:08 - General Risks Associated with Crypto

11:53 - Important Historical Crypto Events to Learn From

21:58 - How you can protect yourself?

25:42 - Our Outlook on Digital Assets

Listen here: https://hubs.la/Q01b7b6j0

Schedule your free 30-minute consultation at https://hubs.la/Q01b7f2c0 and mention the podcast.

If you like the podcast, hit subscribe and we'd greatly appreciate a review!

DeFi (Decentralized Finance) has quickly become one of the largest themes within crypto today, and we believe it will have the greatest disruption to financial services as we know it. Nick explains why you should care about the DeFi revolution and how you may be able to capitalize and/or benefit from it.

0:24 - Why you should care about DeFi
3:45 - Five Key Problems of the Centralized Financial System
13:20 - How DeFi has the potential to solve these problems
17:30 - The current flaws to blockchain technology
19:52 - Introduction to the concept of becoming your own bank

Listen Now: https://hubs.la/Q018Km4y0

Schedule your free 30-minute consultation at https://hubs.la/Q018KkYw0 and mention the podcast.

Rohit is the founder and CEO of https://hubs.la/Q017f0RP0, a modern spreadsheet-style net worth tracker that allows you to automatically track both traditional and crypto portfolios. Kubera helps our clients get organized and gain more financial clarity.

In this episode, Rohit shares the near-death experience that led to him starting Kubera and how people’s financial lives have evolved from simple to more complicated due to the rise of financial technology.

We also talk about the rise of crypto and where it may fit in an investment portfolio, the differentiator between Kubera and Personal Capital, as well as their product roadmap.

Fun Fact: "Kubera" is the Lord of Wealth in Hindu culture.

Listen now: https://hubs.la/Q017f1v20

Want to optimize your financial life for the digital age? Schedule your free 30-minute consultation at https://hubs.la/Q017f42p0 and mention the podcast.

Your portfolio should be like a well-balanced salad. You should have assets that are uncorrelated and serve different purposes, just like a salad that provides you with all the macros you need.

Here are some potential "Portfolio Salad" ingredients:
- Global Stocks
- Crypto
- Real Estate
- Business Ownership/Income
- Fixed Income
- Real Assets

Are you already including all of these in your portfolio? Do you need help crafting your diversified portfolio?

Want to optimize your financial life for the digital age? Schedule your free 30-minute consultation at https://hubs.la/Q0172LzF0

Yes, cryptocurrencies are taxed :(

In this episode, Nick provides a primer on how they are taxed and which transactions count as a taxable event. He then touches on how to prepare your taxes and the strategies you can implement today to reduce your tax liability.

Listen Now: https://hubs.la/Q0168Df40

3:12 - How is Crypto Taxed

4:27 - Taxable & Non-Taxable Events

7:24 - What Tax Forms Do You Need

10:42 - How to Calculate Your Tax Liability

12:05 - How to Save on Crypto Taxes

Want to optimize your financial life for the digital age? Schedule your free 30-minute consultation at https://hubs.la/Q0168yr90 and mention the podcast.

Resources Mentioned:
Crypto Tax Software
- Koinly: https://hubs.la/Q0168Fjb0
- https://hubs.la/Q0168CnV0

Helpful site for chains that don’t sync to software: https://hubs.la/Q0168zBX0

Invest in Crypto inside an IRA (Retirement Account): https://hubs.la/Q0168zrC0

It was an honor to be the first guest on the Live Fortunately Podcast where I shared the importance of financial planning during a time when there are unlimited resources at our fingertips and so many self-proclaimed experts that are telling us what we "should" do.

As a wealth advisor, it's my job to help bring financial clarity and optimize people's finances around their life (not the other way around), so they can live with confidence and peace of mind.

I'm excited about what Fortunately is building, as they are solving a problem that has existed in finance. Thank you to the team at Fortunately and keep up the great work.

You can check out my featured interview on Apple Podcasts and Spotify: https://hubs.la/Q015jTWN0

‎The Live Fortunately Podcast: The Importance of Financial Planning on Apple Podcasts ‎Show The Live Fortunately Podcast, Ep The Importance of Financial Planning - Feb 16, 2022

Blockchain technology has opened the door for a new era of innovation. In this episode, Nick addresses the three main themes that you can invest in within the cryptocurrency and blockchain environment.

Timestamps:
1:07 - DeFi (Decentralized Finance)
9:31 - Web3 (Next Iteration of the Internet)
13:58 - Metaverse

Listen now: https://hubs.la/Q01529SL0

Want to optimize your financial life for the digital age? Schedule your free 30-minute consultation at https://hubs.la/Q01525Kr0 and mention the podcast.

Spending plays a key factor in your financial health. In this episode, we break down ways to "spend smart" using your credit card and great tools for shopping online.

If you'd like to get a rolling interest-free loan for up to 60 days, want to maximize your rewards, or want to save more while shopping online, this episode is for you.

Part 1 - Benefits of Paying with Credit [2:11]

Part 2 - Warnings and Cautions Around Credit [3:32]

Part 3 - Tips/Hacks Around Credit Cards & Online Shopping [8:54]

Fair warning, this is an information-packed episode, so you may want to pause and take notes so that you can follow through with some of the strategies.

Schedule your free 30-minute consultation at [https://hubs.la/Q012qwtQ0] and mention the podcast.

Mentioned Resources:
Lolli Browser Extension for Bitcoin Rewards - [https://hubs.la/Q012qM-T0]

Small businesses are a great way to build personal wealth and they are the backbone of business in America. In this episode, Kelsey Knutson talks about her entrepreneurial journey and shares wisdom from her experience in leaving the 9-to-5 and starting a business and eventually becoming a business consultant. She is a wealth of knowledge for small businesses of all stages so if you’re considering starting a business, or want to run an existing business more efficiently, then she will be a great resource for you.

Listen now: https://bit.ly/3qzadph

Want to optimize your financial life for the digital age? Schedule your free 30-minute consultation at OneDayAdvice.com and mention the podcast.

Kelsey's Links:
KelseyMarieKnutson.com
Instagram:
Facebook Group: facebook.com/groups/kelseymarieknutson

Happy Holidays from One Day Advice 😀
This is a wonderful time of year that brings so much to be thankful for and reflect on. We wish you and your family the best this holiday season.

Imagine being confident in being able to make key financial decisions based on data. Fortunately.io is trying to help and relieve stress for millions of people by helping them with key financial decisions that can be largely determined through data. In today's episode we interview Seth Burstein, CEO and Co-Founder of Fortunately.io, who is a Yale Alum and former actuary (aka, a big number cruncher).

Financial decisions have both an emotional and mathematical component. Fortunately.io is looking to solve the mathematical component to these decisions so that people can feel confident knowing they are making a decision that can ultimately improve their financial health.

Listen now: https://bit.ly/3dFQUEV

Schedule your free 30-minute consultation at OneDayAdvice.com and mention the podcast.

The stock market has moved around a lot lately, thanks to news about the Omicron variant of Covid-19, talks of the Fed speeding up tapering, and rising inflation numbers. But no matter the timing of when you listen to this episode, the key lessons can be applied.

Like data as much as we do? In this episode, we reference a lot of data in order to provide the proper context needed for weathering any financial storm. As the saying goes: Life is 10% about what happens to you and 90% about how you respond.

In less than 10 mins, we'll arm you with the data needed in order to build true wealth.

Listen Now: https://bit.ly/3dirUmV

Schedule your free 30-minute consultation at OneDayAdvice.com and mention the podcast.

Thank you!
Wishing you all the best on this special day!

Are you interested in the cryptocurrency market? Would you like diversified and direct exposure to the asset class? In this episode, we discuss crypto investing with Makara's VP of Strategic Initiatives, Matt Heater.

Makara is an SEC registered investment advisor based in Seattle, WA that provides investors with access to diversified "baskets" of crypto. Much like an index or mutual fund, you're able to invest in numerous cryptocurrencies and even invest in specific themes within the crypto space. Some of these themes include Decentralized Finance, Web 3.0, and the Metaverse.

You can get started today and claim your free $20 worth of a random altcoin by using the referral code mentioned in the episode: https://bit.ly/3DXS220

Check out the episode here: https://bit.ly/3l6Ihap

Inflation is the "Stealth Tax". It erodes your cash and reduces your purchasing power over time. You won't find it in your financial statements or your tax filings, but you can feel it through the assets and items you purchase. As famous economist John Maynard Keynes once said, "While [inflation] impoverishes many, it actually enriches some".

How can you be on the side that's enriched?

In this episode you learn about ways that you can make inflation work for you, not against you. Other than the most common methods, like owning shares of companies (stocks) and real estate, we address alternatives like:
- Real Assets
- TIPS
- Bitcoin

As stewards of your wealth, you must understand how to protect our purchasing power from inflation, currency devaluation, and potential crises. This episode will break down how.

Listen now: https://bit.ly/3mnwVji

Schedule your free consultation with a wealth management professional at One Day Advice by visiting our website at OneDayAdvice.com

"Change is the only constant"- As an innovative company within financial services, it's been great to experience all the change these past three years in business. When we started our "virtual" wealth management company based out of Seattle, we knew that the industry would catch up eventually. We would have never expected that a pandemic would come and speed up that timeline.

So how have we continued to adapt to the ever-constant change?

Well, modern times call for modern solutions.

We are experiencing a digital age that will continue to evolve quickly. As wealth builders for our clients, it is our responsibility to understand the markets, the potential of new technologies, and discover opportunities for our clients. And that is exactly what we have done. Large firms simply can't be as agile as we can because of the amount of friction that exists. That is one of our key advantages.

We have done extensive research into cryptocurrencies, blockchain technology, decentralized finance, and other more mainstream technologies like AI/ML, EV, and big data. In short, there are so many great opportunities out there, and even more to look forward to!

This past year, our founder Nick Reilly earned the designation as a Certified Digital Asset Advisor. He has also worked for some of the most innovative tech companies in the world and is passionate about understanding how technology will impact our future, and how you can invest in it. The combination of his passion for technology and futurist mentality has opened the door for so many great opportunities for One Day Advice clients and followers.

If you'd like to learn more about the opportunities that exist today, don't hesitate to contact us at [email protected] for a free strategy call. Or you can put time directly on our calendar by visiting our website OneDayAdvice.com

Budgeting is no fun for too many reasons to mention. In short, it's restrictive. In this short 7-minute episode, we present a better way to think about and/or manage your spending. A way that will actually be fun and get you greater long-term results.

We provide you with questions to ask yourself, so that you can build a decision framework around your spending. It requires less time, provides less stress, and adds more fulfillment to your life.

Your relationship with money is important, as it impacts all areas of your life. Gain a better relationship with your spending by listening to this episode today.

Listen now: https://bit.ly/3DG4ItU

Schedule your free 30-minute consultation at OneDayAdvice.com or by emailing us at [email protected].