Don't Retire...Graduate!

Welcome back to Don't Retire... Graduate! In today’s episode, we're focusing on a specific group of people: HENRYs, or High Earners, Not Rich Yet. Joining us on the podcast today is Jude Wilson, Chief Financial Strategist at Centrist Financial Strategies. With over 25 years of experience, he specializes in retirement income planning and tax reduction strategies for baby boomers and retirees. Jude holds a bachelor's degree in marketing and finance, as well as an MBA, and is affectionately known as “the Roth guy.”

In our discussion, Jude and I explored the intricacies of Roth IRAs and the strategic importance of tax planning for financial independence. We discuss the concept of HENRYs and how proper planning can help them build wealth and achieve financial goals. We tackled the myths surrounding Roth conversions, discussing why this strategy makes sense even for high-income earners.

Jude shared insights into the changing landscape of taxation, especially with the Secure Act 2.0, and the potential impact on inheritance planning. He also shared his personal journey and emphasized the significance of having the right money mindset, health, and happiness to lead a fulfilling life. Together, we explored the concept of financial independence, addressing the essential role of diversified buckets in retirement portfolios.

5 Key Takeaways:


Roth Conversion Strategy: Jude emphasized the importance of considering Roth conversions as a strategic move to optimize tax-sheltered savings, noting how future tax implications can significantly impact overall wealth.


Understanding "Henry's": The episode highlighted the unique challenges faced by "High Earners, Not Rich Yet" and the essential financial planning needed to convert their high incomes into sustainable wealth.


Impact of Secure Act 2.0: Jude discussed how the elimination of the Stretch IRA might affect heirs and why forward-thinking tax strategies are imperative to managing future tax liabilities.


Money Mindset and Health: Jude shared his personal story, underscoring the importance of a balanced approach to health, wealth, and happiness, advocating for a mindset that welcomes financial planning as a tool for overall well-being.


Retirement Income Buckets: We explored using diversified buckets for retirement savings to ensure stability during market fluctuations, enabling retirees to maintain their lifestyle seamlessly.


Join us as we inspire and educate you on your journey toward financial freedom and a purpose-filled future. Don't forget to subscribe, rate, and share this episode with those eager to transform their financial outlook!
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Welcome to another episode of "Don't Retire... Graduate!" where I, Eric Brotman, explore the unique journeys of financial advisors and how they help others achieve financial independence. In today's Diary of a Financial Advisor segment, I had the pleasure of speaking with Andrew Harrell, a dedicated financial advisor at BFG Financial Advisors. Andrew shares his journey in the financial advising field, his passion for helping clients with retirement and income planning, and the insights he's gained along the way.

In our conversation, Andrew shared his journey to becoming a financial advisor, highlighting how he has only known BFG Financial Advisors as his professional home. We discussed the intricacies of retirement and income planning, emphasizing the importance of planning early and the different strategies available depending on an individual's needs. Andrew highlighted the various factors retirees must consider, such as the sustainability of withdrawal rates, tax implications, and how assets like home equity can play a part in their retirement plan. We also explored the generational differences in retirement planning and how advisors like Andrew navigate conversations about aging and financial security with clients much older than themselves. Additionally, we dove into the emotional and lifestyle aspects of retirement and how finding purpose and passion post-retirement is key to a fulfilling life.

5 Key Takeaways:


Early Career Development: Andrew Harrell's career began with BFG right after college. Working closely with experienced advisors like Eric Brotman has shaped his understanding and approach to financial advising, particularly in retirement and income planning.


Retirement and Income Planning: Andrew emphasizes the importance of starting retirement planning early. He discusses withdrawal rate strategies, tax implications, and the use of various financial products to ensure a sustainable retirement income.


Navigating Emotional and Lifestyle Aspects: Retirement is not just a financial transition but also a lifestyle change. Andrew discusses the importance of finding activities that bring fulfillment and purpose post-retirement to avoid stagnation and to enjoy a more fruitful life.


Generational Differences in Planning: There are noticeable differences in how baby boomers, Gen Xers, and millennials approach retirement planning, largely due to changes in the availability of pensions, reliance on social security, and economic conditions.


Continuous Learning and Client Engagement: Andrew's commitment to his clients is evident in his willingness to learn and adapt. He values transparency and honesty with clients, embracing the learning opportunities that come with each unique financial situation.


Thank you for tuning in to this insightful episode with Andrew Harrell. If you enjoyed our discussion, please subscribe, leave a rating, and share our podcast with friends and family. Stay connected with us on our social media platforms for more updates and episodes. Remember, Don't Retire... Graduate!
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Welcome back to "Don't Retire... Graduate!" Today, we’re talking about a topic that impacts many families and is often overlooked in financial planning—preparing for special needs children and aging parents' care. These stages of life present unique challenges that require careful planning and expert guidance to ensure both financial stability and familial harmony.

In this episode, I am pleased to be joined by Nicole Hewitt, an experienced attorney specializing in estate planning, elder law, special needs planning, business planning, and real estate transactions. With her extensive background working with individuals and families dealing with estate and tax-related matters, Nicole offers invaluable insights and strategies to help navigate these complex situations.

During our conversation, Nicole and I explore the intricacies of planning for families with special needs children and for those dealing with aging parents. We start with the challenges pre-retirees face when trying to save for their own retirement while also providing for a special needs child. Nicole highlights the importance of early and ongoing communication with family members and financial advisors to create effective plans. 

We also touch on the critical role of life insurance and special needs trusts in ensuring the financial security of special needs individuals. Shifting gears, we address the pressures on adult children who are managing the care of aging parents, emphasizing the necessity of honest family discussions and legal planning to mitigate future financial and emotional strain. Finally, we tackle the sensitive issue of driving and independence for elderly parents and offer guidance on how to manage this challenging transition.

Key Takeaways:


Two-Track Planning: Families with special needs children must navigate both personal retirement planning and long-term care planning for their dependent. Early planning and the use of vehicles like life insurance and special needs trusts can help balance these responsibilities.


Conversations are Crucial: Engaging in open discussions with family members about estate plans, potential inheritances, and responsibilities ensures smoother transitions and alignment on future care strategies.


Prepare for Aging Parents: Observing and discussing your parents' aging process while they’re still competent encourages proactive measures and legal planning, thereby reducing stress and preserving family relationships.


Professional Guidance is Key: Consulting with a financial advisor and attorney who specialize in special needs and elder law is crucial in creating and executing effective estate plans to better ensure compliance with laws and optimize financial outcomes.


Facing the Independence Issue: When the time comes to address an elderly parent's capability to drive, children often need to take on a parental role for the safety of their loved one and others, despite the discomfort it may cause.


For more details, or to start your planning process, reach out to Nicole Hewitt through the HWK Law Group. And don’t miss our upcoming webinar on the Tax Cuts and Job Act of 2017 in March 2025 for further advice and insights.

Join us next week and continue the journey of turning retirement into a commencement. As always, remember: Don’t retire, graduate!

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Welcome back to another episode of "Don't Retire... Graduate!" I'm your host, Eric Brotman. In our "Diary of a Financial Advisor" segment, we introduce you to financial advisors and explore their professional journeys and their dedication to helping clients achieve financial success.

Today, I'm delighted to have Dan Halla, a valuable member of our BFG team, join me. Dan is our go-to specialist in long-term care insurance, bringing both his professional expertise and personal passion to the table. We'll dive into what inspired Dan's career path, his philosophy on the importance of risk management, and what's on the horizon for the field of long-term care insurance.

In this episode, I sat down with Dan Halla to discuss long-term care, a topic that many shy away from but one that Dan passionately champions due to personal experiences with his grandmother. We explored his journey to BFG, which started at a luncheon where his potential was spotted immediately. Dan shared how his dedication to long-term care was ignited by witnessing his grandmother's needs as she aged, steering him towards a career where he could make a significant difference in others' lives.

Dan brings a human touch to financial advising, focusing less on numbers and more on the personal stories of our clients. We dove into how the long-term care insurance market has evolved, with fewer companies offering traditional policies. Dan explained how hybrid policies cater to clients' desires for a more tangible benefit, such as a death benefit or cash value.
A theme throughout our conversation was trust—trust clients must have in us as advisors, even as we recommend planning for eventualities they would rather not contemplate. Dan's commitment to building personal relationships ensures our clients feel supported, especially when making claims in times of hardship.

5 Key Takeaways:


Personal Motivation: Dan's passion for long-term care insurance was inspired by personal experiences with his grandmother, underscoring the importance of real-world experiences in shaping career paths.


Changing Insurance Landscape: The traditional long-term care insurance market is shrinking, with more carriers offering hybrid policies that provide clients with more immediate, tangible benefits.


Building Trust: Dan emphasizes the significance of developing close, trusted relationships with clients, assuring them of support when they need it most.


Professional Philosophy: Rather than solely focusing on investment figures, Dan focuses on understanding clients' personal stories to guide them toward better financial decisions.


Future Aspirations: Dan's goals revolve around being a trusted professional and an excellent future parent, with the guidance and confidence instilled by his wife and teammates.


Thank you for tuning into this insightful episode with Dan Halla. Make sure to subscribe, rate, and share with friends and family. As always, if you have ideas or topics for future episodes, reach out to us on Facebook. Remember, don't retire, graduate!
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Welcome back to "Don't Retire... Graduate!" On this episode, we're thrilled to welcome Jasper Smith, a dedicated financial educator and visionary behind the Build Wealth Movement. With over 15 years of experience in the financial services industry, Jasper is on a mission to disrupt generational poverty and help families create sustainable wealth.

Jasper Smith is a trailblazer in the financial services sector, with a deep-seated curiosity about money that has driven his career. As the founder of the Build Wealth Movement, Jasper tirelessly works to empower individuals and communities to overcome financial challenges and embrace prosperity. His commitment to financial education and his innovative approach to wealth-building strategies are transforming lives.

In this episode, Jasper Smith and I dove into the intricacies of financial education, the importance of breaking generational poverty cycles, and the strategies that can lead to financial independence. Jasper shared his personal journey into the financial world, driven by a curiosity about money sparked by the daily stock market updates he saw on TV and a lack of open conversations about finances in his community. We explored the taboos surrounding money, different family dynamics, and how early financial habits impact lifelong prosperity.

We also discussed the significance of educating children about money, emphasizing the need to start as early as possible, even if it begins with simple concepts like savings and earning money. Jasper highlighted the role of curiosity in understanding financial systems and the necessity of learning the rules to play the money game effectively. We touched on the challenges and opportunities presented by gamifying financial education and the importance of making informed decisions.

As our conversation unfolded, we tackled the delicate balance of managing personal and family finances, the role of expectations in building generational wealth, and how societal changes have influenced today's financial landscape. Together, we unpacked the strategies that families can use to achieve financial success, including the importance of seeking external assistance and being receptive to guidance.

Key Takeaways:


Curiosity as a Catalyst: Curiosity about money and how it functions can be a powerful motivator. It leads to asking pertinent questions and seeking knowledge, which are essential for understanding financial systems.


Start Financial Education Early: Introducing children to financial concepts at a young age, even if it starts with basic ideas like savings, can lay a strong foundation for their financial literacy and decision-making skills.


Breaking Generational Poverty: Disrupting the cycle of generational poverty requires intentional actions, setting higher expectations for future generations, and educating oneself about sound financial practices.


Balancing Family and Personal Financial Goals: It's crucial to ensure your financial stability while planning for your children's future. Effective conversations and planning can help achieve a balance that secures retirement without compromising children's educational and life goals.


Openness to External Guidance: Being open to accepting guidance, assistance, or advocacy can be transformative in achieving financial aspirations. Identifying a trusted advisor to help navigate complex financial decisions is invaluable.


Thank you for joining us in this engaging conversation with Jasper Smith. Be sure to subscribe to "Don't Retire... Graduate!" for more insightful episodes. If you have topics or ideas you’d like us to explore, connect with us on Facebook or Twitter @BrotmanPlanning. Remember, the journey to financial freedom is one of learning and growth, so don't retire... graduate!
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Welcome back to Don't Retire... Graduate!: the podcast that invites you to rethink what retirement really means.

In our Diary of a Financial Advisor segment, I, Eric Brotman, interview financial advisors about their professional journeys and their dedication to aiding others in their financial success. Today, we are lucky enough to be joined by BFG's own Cody Niedermeier before he begins his paternity leave.

In this episode, Cody and I explore the various considerations involved in planning for a family from the perspective of a financial advisor. Cody opens up about his own journey, sharing that he and his wife are expecting their first child. We discuss the practical changes needed in the home and adjustments to the family budget, emphasizing the costly nature of raising children. Cody provides insights into how his professional life has equipped him to tackle personal financial planning for his growing family. We also touch on the importance of life insurance, estate planning, and the possible choices between public and private schooling. Cody reflects on how being a financial advisor has prepared him for fatherhood and anticipates how fatherhood will, in turn, deepen his connection with clients.

5 Key Takeaways:
Early Conversations and Planning: Cody stresses the importance of early and honest discussions about family planning even during the dating phase. Knowing each other’s desires about having children can shape the future and pinpoint readiness for starting a family.

Financial Preparation and Adjustments: Financial planning for a new baby involves reassessments of budgets, exploring the costs of daycare, making necessary home adjustments, and ramping up that emergency fund. Cody shares the humorous reality of exceeding budget plans with frequent trips to places like Target.

Healthcare, Childcare, and Education: Conversations around adjusting work schedules, weighing daycare options, and considering the pros and cons of public versus private education are crucial. Cody highlights the life-changing expenses associated with raising a child and how to plan for them effectively.

Importance of Life Insurance and Estate Planning: Essential aspects of family planning include ensuring there is adequate life insurance and that estate documents are in order. Cody notes how these steps, though centered around dire scenarios, are fundamental in securing the family's future.

Balancing Professional and Personal Life: Cody articulates how being a financial advisor has uniquely equipped him to plan for his family and posits that becoming a parent will help him relate even more profoundly with his clients. He emphasizes the need for drawing upon available resources, supporting his wife, and maintaining a balance between professional and personal demands.

Cody's journey is a testament to the power of early planning and the perpetual balancing act of professional and personal life. Don't forget to subscribe and share this episode with anyone who might benefit from Cody's valuable insights.

Remember, if you have any topics or ideas you'd like us to discuss in a future episode of "Don't Retire... Graduate!", please reach out on social media. Stay tuned for our next episode, and until then, don't retire… graduate!
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Welcome back to Don't Retire... Graduate!: the podcast that invites you to rethink what retirement really means.

In today's episode, we're taking a look at college admissions and financial aid with our special guest, Dr. Kuni Beasley. With over 40 years of experience in helping students and their families navigate the complexities of getting into college and securing financial aid, Dr. Beasley brings a wealth of knowledge and practical advice that could save you thousands of dollars while helping your children achieve their academic dreams.

In this episode, I sit down with Dr. Beasley to discuss his unique approach to navigating the often daunting landscape of college admissions and financial aid. We explore his strategies, which have helped countless families secure significant scholarships and grants, minimizing the out-of-pocket costs for higher education. Dr. Beasley shares insights into the different types of financial aid available, including merit-based, need-based, and entitlement aid, and explains the crucial steps families need to take as early as the 9th grade to maximize their opportunities. We also tackle the importance of standardized testing, building strong resumes, and understanding lesser-known ways to finance college education. Dr. Beasley emphasizes that no college is worth dipping into retirement funds and offers practical advice on maintaining financial health while supporting educational aspirations.

5 Key Takeaways:


Types of Financial Aid (MONEY Acronym): Dr. Beasley introduces the acronym MONEY to describe the five types of financial aid: Merit-based, Opportunity-based, Need-based, Entitlement, and Your Own Money. Understanding each type is crucial to navigating college costs effectively.


Early Planning is Essential: Starting from the 9th grade, families should begin planning and preparing for college applications and financial aid opportunities. Dr. Beasley stresses that delaying this process can result in missed financial opportunities, costing families dearly.


Maximize Standardized Testing: Despite the rise of test-optional policies, standardized test scores like the SAT and ACT remain critical for scholarship opportunities and college admissions. Dr. Beasley recommends taking tests early and often to achieve the best possible scores.


Build a Strong Resume: Students should engage in activities that enhance their resumes, such as earning the Presidential Volunteer Service Award and participating in programs like Boys State and Girls State. Such accolades can significantly impress admissions officers and improve scholarship chances.


Financial Aid Strategies: Correctly filling out the FAFSA is critical, as mistakes can cost families tens of thousands of dollars. Dr. Beasley also highlights strategies like leveraging ROTC scholarships and understanding institutional aid policies to reduce reliance on personal funds.


For those interested in diving deeper into Dr. Beasley's methods and potentially saving thousands on college costs, more information can be found at Beasley College Prep. Tune in next time for another inspiring episode of "Don't Retire... Graduate!"

If you enjoyed our show, please subscribe, leave a rating on your favorite podcast platform, and share it with your friends and family so they can join you on your journey to financial freedom. Feel free to send us a topic or idea you'd like to discuss in a future episode by posting it on our Facebook page or tweeting us at @BrotmanPlanning. Until next time, don't retire... graduate!
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Welcome back to another episode of "Don't Retire... Graduate!" I'm your host, Eric Brotman. Our podcast aims to guide you to a fulfilling and passionate retirement by asking you the important question: "What do you want to be when you grow up?"

In our "Diary of a Financial Advisor" segment, we interview financial advisors about their unique journeys and their dedication to helping others succeed financially. Today, I'm thrilled to introduce Claudia Glover, a chair of our investment committee and a highly credentialed CFP, who will share her professional and personal journey with us.

Claudia has a wide array of experiences in the financial industry. Originally inspired by her father, who immigrated with their family and taught her the values of discipline and saving, Claudia embarked on a path in finance that has led her to become a trusted advisor and the chair of our investment committee at BFG.

In this episode, Claudia shares her inspiring journey into the world of finance, which began by watching her father's disciplined financial management. After graduating from college, Claudia knew she wanted to enter the finance field. Her career has been non-linear, starting as an associate, moving onto a fixed income trading desk, and eventually managing a growth and income SMA at Wells Fargo. Transitioning from the large corporate environment of Wells Fargo to the more intimate setting of BFG was a culture shock, but one she has embraced wholeheartedly. Claudia talks about her "why"—helping clients reach milestones—and how this drives her every day. We also discuss Claudia's accountability partnership within BFG and how it has benefitted both her and me. Finally, we explore the impact of financial wellness programs on both Claudia's career and the lives of the clients she serves.

5 Key Takeaways:


Claudia’s Inspirational Journey: Claudia was moved to enter finance by observing her father’s disciplined financial habits. This demonstrates the significant impact parents can have on their children's financial literacy and career choices.


Career Path & Experience: Claudia’s career has been diverse, ranging from assisting a team of advisors to managing a growth and income SMA. Her varied experiences have equipped her with the knowledge and skills to effectively support her clients.


Transition from Large to Small Firms: Moving from Wells Fargo's massive organization to the more personal environment at BFG was a notable shift. However, it offered Claudia the opportunity to engage more deeply with her clients and understand their financial situations on a personal level.


Importance of Accountability: The concept of having an accountability partner at BFG has been a significant factor in personal and professional growth for Claudia. Monthly meetings to discuss goals have helped her maintain focus and drive.


Financial Wellness Programs: These programs allow financial advisors like Claudia to reach a broader audience, offering personalized financial advice and guidance. These programs can profoundly affect the financial health and understanding of participants.


I hope you find this episode not only informative but also inspirational. Claudia's journey is a testament to how diverse experiences and a heartfelt commitment to helping others can lead to a fulfilling career in financial services. Join us next week for another engaging episode, and in two weeks, meet another advisor in our "Diary of a Financial Advisor" series.

If you enjoyed our show, please subscribe and leave a rating on your favorite podcast platform. Share this episode with friends and family so they, too, can join the journey to financial freedom. Have a topic or idea you’d or idea you’d like us to explore? Post it on our Facebook page or tweet us at Brotman Planning. Until next time, remember: Don't retire, graduate!
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Welcome to the premiere of the sixth season of "Don't Retire... Graduate!" I'm your host, Eric Brotman, and I'm thrilled to be back after a year-long hiatus. Our mission remains the same: to provide you with the insights and tools you need to achieve financial independence and live the life you’ve always dreamed of.

Today, our guest is a DRG regular, the incomparable Joe Saul-Sehy. Joe is an esteemed financial expert and the creator and co-host of the "Stacking Benjamins" podcast network. Joe is also a former financial advisor, a board member of the Plutus Foundation, and an author. With such a wealth of experience, he's the perfect guest to kick off our new season.

In this episode, Joe and I take a look at the intersections of politics, investments, and financial planning. With the recent election, we discuss the impact it will have on tax policy, the economy, and interest rates. Joe emphasizes the importance of personal accountability and taking action based on current realities rather than political outcomes. We discuss economic volatility, current stock market trends, and the significant influence of the Federal Reserve compared to political administrations.

Joe provides valuable investment strategies, stressing the impracticality of market timing and advocating for a long-term perspective. We also share personal anecdotes, including Joe’s new venture, "Stacking Adventures," a travel blog and podcast. The conversation concludes with a discussion about the importance of enjoying life experiences early, leveraging personal hobbies, and maintaining quality family time.

5 Key Takeaways:


Personal Accountability Over Politics: Joe emphasizes that regardless of recent election outcomes or political affiliations, personal accountability and action based on current facts are crucial for financial success. Quoting Jack Welch, Joe highlights the importance of accepting reality as it is, not how we wish it to be.


Investment Strategy: Joe argues that successful investing requires comfort with uncertainty and avoiding market timing. He gives an example of a friend who took advantage of a market drop to invest more, advocating for a long-term perspective.


Federal Reserve’s Influence: The discussion reveals that the Federal Reserve has more short-term economic influence than the presidency. This insight challenges the common perception that political changes drastically affect personal financial strategies.


Enjoying Life Experiences: Joe and I stress the importance of not waiting until old age to enjoy meaningful experiences due to potential health issues. Experiencing life now, rather than delaying gratification, is crucial for overall well-being.


Community and Family Time: Personal hobbies and shared experiences, such as building Lego sets or playing board games, can provide significant non-material value. These activities help build strong relationships and create lasting memories, emphasizing that finance is not just about money but about what it enables people to do.


I want to thank Joe Saul-Sehy for joining us today. Don't forget to check out his projects like "Stacked" and "Stacking Benjamins." As we move forward, stay tuned for more interviews and our new segment, "Diary of a Financial Advisor," every Thursday. Remember to subscribe, leave ratings, and share the podcast with your friends. Let's keep the conversation going and achieve financial graduation together!
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Welcome to Don’t Retire… Graduate!—the podcast that’s here to challenge the way you think about retirement. I’m your host, Eric Brotman, Certified Financial Planner Practitioner, and I’m excited to guide you in transforming retirement from a final destination into a new beginning—a graduation into the next great chapter of your life.
Retirement isn’t just about stepping away from a career; it’s about stepping into a life that’s filled with purpose, joy, and fulfillment. Whether you’re counting down the days to retirement or just starting to plan, we’re here to help you not just survive, but thrive in your post-career years.
In every episode, we’ll explore how you can make the most of this exciting time by setting new goals, pursuing passions that light you up, and building a legacy that truly reflects who you are. You’ll hear from award-winning authors, financial experts, influencers, and everyday people with inspiring stories. Together, we’ll uncover strategies for achieving financial independence, managing your wealth, and making decisions that support your dreams.
We’ll cover everything from personal finance and investing to retirement readiness, taxes, and more. And it’s not just about the money—we’ll dive deep into the emotional and psychological aspects of retirement too. How do you maintain your mental and physical health, nurture relationships, and stay connected to your community? We’re here to help you design a lifestyle that keeps you engaged, curious, and excited about the future.
And don’t forget to check out our bonus content every other week, where you’ll get to meet the incredible team of financial advisors at BFG Financial Advisors. We’ll share real stories from the frontlines of financial planning and give you insider tips on how to make your retirement dreams a reality.
Retirement is not the absence of work—it’s the absence of needing to work. So, why not graduate into a life of purpose, passion, and financial freedom? Tune in to Don’t Retire… Graduate! and let’s make these years the best ones of your life.
Subscribe now on your favorite podcast app and join us as we turn the page on traditional retirement and step into a life of limitless possibilities. I’m Eric Brotman—let’s get you graduated.
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