PODCAST

The Weekly Wealth Podcast

David Chudyk

Exploring the Mindsets, Tactics, and Strategies to help you to build and maintain wealth.

business investing

All Episodes

20:01

Ep 183: Financial goals and the HACKS that can help...

The Weekly Wealth Podcast ·

2024/08/30

In this episode of the Weekly Wealth Podcast, Certified Financial Planner(tm) David Chudyk discusses the psychology behind financial decision-making, focusing on whether individuals are more motivated by the fear of losing or the desire to win. David explores how these motivations can impact financial behavior, while emphasizing the importance of understanding your own mindset when setting and achieving financial goals. He also highlights the role of positive reinforcement, like the dopamine release

21:17

Ep 182: Do you love winning or hate losing (your money)?

The Weekly Wealth Podcast ·

2024/08/23

In this episode of the Weekly Wealth Podcast, David Chudyk delves into the psychology behind financial motivation. He begins by asking listeners whether they are more driven by the fear of losing or the desire to win, relating this to financial goals versus financial fears. Drawing parallels with sports legends like Michael Jordan and Serena Williams, David explores how different motivations can influence our financial decisions. He discusses the importance of recognizing these motivations in

22:51

EP 181: Emergency Stock Market Volatility Episode

The Weekly Wealth Podcast ·

2024/08/09

In this episode of the Weekly Wealth podcast, certified financial planner David addresses the currentstock market volatility and its impact on investors. He discusses the recent significant downturns in majorindices, including the Dow Jones, Nasdaq, and S&P 500, emphasizing the importance of assessingpersonal risk tolerance and time horizons when managing investment portfolios. David highlights theconcept of a "buffer asset"—maintaining adequate cash reserves to weather market downturns

17:57

EP 180: Money 101: Lessons Schools Shouldn't Skip

The Weekly Wealth Podcast ·

2024/08/02

Let's talk about what our children should be learning about MONEY and success in school and at home.Our decisions compound for us (or against us) every day. Small decisions and actions play a large role in determining our long term successes.Financial literacy.We are all paid based on how easy it is to replace us.We must consider earning potential when deciding on our career and education paths.Settling for mediocrity will result in mediocre results.Don't forget to contact David Chudyk with any of

31:48

Ep 179: Decoding the Language of Money

The Weekly Wealth Podcast ·

2024/07/26

David, a seasoned certified financial planner at Parallel Financial, and Anna, an associate financial advisor, engage in a dynamic dialogue about their professional ethos and the pivotal role of client relationships in their practice. David eloquently articulates Parallel Financial's commitment to personalized financial strategies tailored to diverse client needs, ranging from business owners to retirees. He emphasizes the importance of listening attentively to clients' aspirations and concerns,

33:10

Ep 178: Justin Chastain... The Financial Planning...

The Weekly Wealth Podcast ·

2024/07/19

In this episode of the Weekly Wealth podcast, host David Chudyk, a certified financial planner with Parallel Financial, engages in an insightful discussion with his colleague, Justin Chastain. They delve into the essence of comprehensive financial planning, emphasizing that it's more than just numbers and investments. Justin shares his journey of becoming a CFP, highlighting the importance of investing in self-worth to better serve clients. They also discuss the multifaceted nature of financial

17:03

Ep 177: You might be the problem with your biggest...

The Weekly Wealth Podcast ·

2024/07/12

Take the VALUEBUILDER SCORE www.weeklywealthpodcast.com/valuebuilderscoreEmail david@parallelfinancial.com with your questions. Schedule your time to meet with David www.calendly.com/davidpf In this episode of the Weekly Wealth Podcast, host David, a certified financial planner, emphasizes the importance of business owners not neglecting their business as a major asset. He discusses how business owners often focus on increasing the value of their IRAs and brokerage accounts but overlook strategies

16:56

Ep 176: Financial independence - What it means and...

The Weekly Wealth Podcast ·

2024/07/04

Financial Independence – What It Means and How to Achieve It.In this episode of the Weekly Wealth Podcast, Certified Financial Planner David discusses financial independence, tying it to the spirit of Independence Day. Recorded during the week of July 4th, 2024, David explores strategies and common pitfalls that can either aid or hinder one's journey towards true financial freedom, especially for high net worth and mass affluent listeners. David begins by defining financial independence as the

13:16

Ep 175: What you should do about nvidia (nvda) and...

The Weekly Wealth Podcast ·

2024/06/28

CHOOSE YOUR HARDWith regards to your money and other important areas in life, it is important to make the hard decisions now and do the hard things now. There is a good chance, that by doing the hard things now, your life will be better in the future. What are some of the HARD decisions that you need to make today? What are some of the HARD things that you need to do today? In what ways is your life HARD now, but you know it would have been easier if you had done some HARD things in the

28:03

Ep 174: Care Continuum: Understanding Long-Term Care...

The Weekly Wealth Podcast ·

2024/06/21

What key factors and resources are important for planning long-term elder care?In this episode, the discussion between David and Linda, an experienced elder care advisor specializing in helping families navigate the complexities of senior living. She offers personalized guidance in finding suitable independent, assisted, and memory care communities, ensuring the best fit based on clients' needs and budgets. Her services are typically free, as fees are covered by the communities,she focuses on the

17:47

Ep 173: Strategies for reducing portfolio risk

The Weekly Wealth Podcast ·

2024/06/14

1.Diversification - We all know that it is important to spread our risk among many holdings, asset classes, income sources, etc.2.Use a disciplined process to “buy low/sell high”.3.Understand that not all of your holdings will be winners.4.Take distributions from a “BUFFER ASSET” when markets are down. This will give time for your account to fully or partially recover losses.5.Hedging Strategies - (DIY for these is not recommended). Options, futures, etc.6.Avoid Panic Selling - there are times

36:10

Ep 172: Ralph Estep of the ASK RALPH PODCAST

The Weekly Wealth Podcast ·

2024/06/07

How Can High Income Individuals Optimize Their Taxes?In this episode of The Weekly World podcast, host David welcomes Ralph Estep, a financial professional and fellow podcaster, to discuss strategies for optimizing taxes, particularly for high-income individuals. Ralph shares twelve insightful tax tips, ranging from maximizing retirement account contributions to employing children in your business.Ralph emphasizes the importance of being intentional with financial decisions, stressing the need to

17:09

Ep 171: Eight Strongly Held Financial Opinions

The Weekly Wealth Podcast ·

2024/05/31

Strongly Held Opinion #1: You Must DecideDuration: 00:00:22 - 00:02:52David Chudyk emphasizes the importance of making the choice to be financially successful.Key point: "Income minus expenses must be greater than zero."He stresses the necessity of consistently spending less than what is earned.Examples are given to illustrate how increased income and reduced expenses contribute to financial success.Opinion # 2: You Must KnowDavid Chudyk discusses the significance of being aware of one's financial

38:59

Ep 170: Do LESS but BETTER to build your business.

The Weekly Wealth Podcast ·

2024/05/24

Amber Reynolds of Five Pineapples Consulting (www.fivepineapplesconsulting.com) discusses how business owners can increase their wealth by:Providing a world class customer service experience and discussed the difference between customer service and customer experience.Scaling their businesses.Identifying their super powers.Reach out to Amber at Facebook or on instagram @amberreynolds.meEmail David Chudyk at david@parallelfinancial.com Download the book ENDGAME by visiting

15:53

Ep 169: Money CAN buy happiness ?

The Weekly Wealth Podcast ·

2024/05/17

Can money buy happiness?Can you name a problem, where money doesn't make the problem a bit smaller or less severe?In this episode, we discuss some areas where money can make a problem... a bit less of a problem. What do you think? Are these accurate? email david@parallelfinancial.com with your thoughts.Schedule your call with David Chudyk by clicking www.calendly.com/davidpf

17:49

Ep 168: The SECRET roles of your financial advisor

The Weekly Wealth Podcast ·

2024/05/10

Most people think that financial advisors simply help their clients to invest money. While that is a big part of the financial planning process, good financial advisors do much more. Some of the secret roles of your financial advisors are:Asking the right questions.Helping YOU to achieve your goals.Nudging your behaviors, if they are not aligning with your goals.Don't forget to email DAVID@PARALLELFINANCIAL.COM with any questions.

38:10

Ep 167: Financial Check-Up: Planning Tips for Medical...

The Weekly Wealth Podcast ·

2024/05/03

In this episode, financial advisors, David Chudyk and Peyton Hoppes talk about financial planning issues and considerations that are important to:W2 (employee) medical professionals. These include any medical professionals that are employed by an organization and do not have ownership in the entity.Medical professionals who have full or partial ownership in a practice. This includes physicians, chiropractors, physical therapists, etc.Please visit www.promedwealth.com and CLICK HERE to subscribe to

23:18

Ep 167: EASY ways to go BANKRUPT

The Weekly Wealth Podcast ·

2024/04/26

Insurance is not the sexiest area but it is one of the most overlooked and important areas.In this episode we discuss:Life insurance mistakes that are VERY PREVENTABLE but can have a high cost.Car insurance mistakes to avoid.Some common errors that business owners make with their risk management.You can reach David Chudyk via email david@parallelfinancial.com To book a time to speak with David, visit www.weeklywealthpodcast.com/schedule-a-chatAs a business owner, you're familiar with the challenges

13:19

Ep 165: Second Chance, Shared Wealth: Financial Tips...

The Weekly Wealth Podcast ·

2024/04/19

In this episode, let's talk about money considerations in second marriages. Some topics to discuss are:How will expenses be divided?How will debt be divided?The importance of financial transparency.Estate planning issues that arise with second marriages.Will (or to what extent) will finances be combined?As always, email david@parallelfinancial.com with any questions or click www.calendly.com/davidpf to set at time to speak with David Chudyk.

15:32

Ep 164: The ONE financial question that you should be...

The Weekly Wealth Podcast ·

2024/04/12

A common misconception is that a Financial Advisor's job is only to invest his/her clients' money in a way that will get them the highest return possible. While investment management is important, it is only a part of the financial planning process.Another important job of a financial advisor is to help clients to identify risks and to take steps to mitigate the effects of the risks.In this episode, we talk about the CRUCIAL question that you should be asking yourself:"What are two are three things

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