Life Money Balance® Podcast
The Life Money Balance® podcast helps you “let your life lead your money, not your money lead your life” and engage with your journey to create your life's design. The podcast uses compelling conversations that combine money psychology with personal finance topics to improve your well-being and achieve your life aspirations.
Your host Dr. Preston D. Cherry (“Dr. Cherry”), interviews guests and performs solo shows to provide an emotion-safe space where real people engage in real talk and share authentic moments. Let’s chop! Learn more by following @drprestoncherry, Certified Financial Planner, Certified Financial Therapist, University Professor, and Founder & President of Concurrent Financial Planning, www.concurrentfp.com.
Episodes
68 episodes
Why High-Income Earners Need Spending Plans Instead of Budgets
In this episode, Dr. Preston Cherry challenges traditional budgeting and introduces reverse budgeting, a method that prioritizes personal values and guilt-free spending while ensuring financial security. He outlines a five-step approach: knowin...
•
19:44
Is $1 Million Still Enough? The New Wealth Benchmarks Explained
In this episode, Dr. Preston Cherry dives into how the concept of wealth is evolving and why being a millionaire isn't what it used to be.With inflation and rising living costs, the financial landscape has shifted. He shares key insight...
•
16:30
Executive Compensation Mastery: RSUs, Stock Options & ESPPs Explained
In this episode, Dr. Preston Cherry breaks down the essentials of equity compensation—RSUs, ISOs, NQSOs, and ESPPs. He explains how taxes and behavioral biases can influence your decisions and offers smart strategies to maximize your equity ben...
•
13:37
Tax-Efficient Retirement Strategies for For High-Income Business Owners
In this episode, Dr. Preston Cherry breaks down how business owners can choose and use retirement plans to boost income, cut taxes, and maintain their lifestyle. He covers Simple IRAs, SEP IRAs, Solo 401ks, and cash balance plans while explaini...
•
18:07
Financial Infidelity to Financial Intimacy: How Married Couples Can Manage Their Finances
In this episode, Dr. Preston Cherry explores how couples can turn financial tension into teamwork. He highlights the emotional side of money talks and shares a framework for better communication, including regular check-ins, understanding each ...
•
18:08
Seizing Opportunities: Navigating Market Corrections with Core-Satellite Investing
In this episode, Dr. Preston Cherry explains how to handle market corrections with the Core and Satellite strategy. He stresses the importance of a diversified portfolio to manage risk and highlights how downturns create investment opportunitie...
•
17:43
Navigating Market Corrections: Here’s What You NEED to Know
In this episode, Dr. Preston Cherry breaks down market volatility, explaining crashes, corrections, and bear markets. He highlights why understanding these shifts helps manage emotions during downturns. He also shares key strategies like dollar...
•
19:55
How Much Should You Have Saved for Retirement by 40, 50, or 60?
In this episode, Dr. Preston Cherry breaks down key retirement savings benchmarks for your 40s, 50s, and 60s. He explores the emotional challenges of saving—like anxiety and comparison—and shares practical tips to build financial freedom. His a...
•
16:58
High Earners, Are You Saving Enough? The Truth About Emergency Funds
In this episode, Dr. Preston Cherry breaks down why emergency funds are a must—even for high earners. He explains that they act as financial protection, not an investment, and shares smart strategies to build and maintain one. From how much to ...
•
15:18
Why High-Income Families NEED These 3 Trusts
In this episode, Dr. Preston Cherry breaks down estate planning trusts and why they matter for high-income and high-net-worth folks—not just the uber-wealthy. He explains three key types: Revocable Living Trusts, Irrevocable Life Insurance Trus...
•
16:32
Estate Planning 101: What You MUST Do Before It’s Too Late
On this episode, Dr. Preston Cherry breaks down estate planning in a way that makes it clear: everyone needs a plan, not just the rich. He explains key documents like wills, living trusts, powers of attorney, and healthcare directives—tools tha...
•
16:53
Will an Annuity Save Your Retirement?
In this episode, Dr. Preston Cherry delves into the complexities and benefits of incorporating annuities into retirement portfolios. With the startling statistic that 63% of Americans fear outliving their money more than death itself, Dr. Prest...
•
37:17
Financial Anxiety? Here's How to Find Financial Harmony with Your Money
In this episode, Dr. Preston Cherry explores financial harmony, guiding listeners from financial anxiety to alignment by connecting money decisions with personal values.With 60% of Americans experiencing financial anxiety, Dr. Cherry pr...
•
32:26
Rental Properties After 40: Smart Wealth Moves or Risky Headache?
Building wealth through real estate is often promoted as a path to financial freedom, but it may not suit everyone, especially those in their 40s focusing on lifestyle and retirement goals.In this episode, Dr. Preston Cherry emphasizes ...
•
42:10
Retire Like a Boss: 4 Secrets to Comfort and Joy
In this episode, Dr. Preston Cherry dispels common myths about retirement age and encourages proactive emotional and financial preparation to ensure that retirement is approached with confidence and clarity.He emphasizes the significanc...
•
28:50
Bitcoin is Up—But Should You Buy?
Are you falling into the trap of following the herd? In this episode, Dr. Preston Cherry breaks down why blindly imitating others can hurt your finances, especially when it leads to buying high and selling low.This episode emphasizes th...
•
30:38
Building Wealth with Gratitude: Essential Tips for Gen X
There is a powerful link between gratitude and financial success, especially for Generation X. In this episode, Dr. Preston Cherry shares how combining gratitude with grit and grace can improve financial decisions and boost life satisfaction. U...
•
31:14
How to Build a Diverse Portfolio with Alternative Investments
In this episode, Dr. Preston Cherry and Shana Sissel discuss the importance of alternative investments in portfolio construction and risk management. They explore the vast universe of alternatives, how they can align with personal values, and t...
•
36:00
4% Rule Guru Bill Bengen Reveals How to Maximize Your Retirement Income!
In this episode, Dr. Preston Cherry talks about retirement income, breaking down the famous 4% rule with its creator, Bill Bengen, renowned for his groundbreaking work in retirement planning.Key Points:1. The 4% rule should be s...
•
24:57
Why Retirement Feels Out of Reach for Gen X
In this episode, Dr. Preston Cherry uncover the indispensable tax benefits of 401(k) plans and eliminate common misconceptions surrounding them.This episode brings to light the economic cycles and challenges Gen X has traversed, providi...
•
29:44
The Secret to Avoiding Money Regrets
In this episode, Dr. Preston Cherry delves into the crucial topic of balancing the present with saving for retirement.This episode tackles common financial regrets like under-saving for retirement, underestimating medical expenses, and ...
•
26:27
Avoid Regret: Maximize Open Enrollment NOW!
Optimizing open enrollment is crucial, yet often overlooked, with over 40% of individuals regretting missed opportunities. It’s important to remember that compensation includes not just salary but also benefits like medical and risk insurance, ...
•
28:53
Can You Really Trust Reddit for Financial Advice?
In this episode, Dr. Preston Cherry explores the pros and cons of using Reddit for financial advice. He weighs the sense of community and user-driven insights against the risks of misinformation, emphasizing the value of personalized advice fro...
•
28:30
The Shocking Truth Continues: Are Gen X Parents Still Ruining their Retirement?!
In this episode, the Cherrys explored the delicate balance between supporting adult children and fostering their financial independence. Charles emphasized the importance of teaching responsibility early, while Carla highlighted the long-term b...
•
40:02
Are Gen X Parents Ruining Retirement by Supporting Their Adult Children?
Are Gen X Parents Ruining Retirement by Supporting Their Adult Children?In this episode, Dr. Preston Cherry delves into the critical issue of whether Gen X parents are jeopardizing their own retirement by financially supporting their ad...
•
25:51