Most business owners come into the financial game as the quarterback. They’re telling their CPA and financial advisor what they need and when they need it instead of working as a team to plan out a cohesive strategy.

This needs to change.

Listen to the latest episode of the podcast to learn why your business needs a financial team that works together, and how to incorporate tax planning strategies into your operation, so you’re not overpaying taxes and maximizing the odds of your long-term success.

• Tanner is a CPA with 22 years of experience in the tax world. Born and raised in Utah, Tanner was a natural mathematician and considered joining the FBI as an accountant but didn’t end up going that route. He spent 12 years with five different CPA firms, discovering what he liked and didn’t like, before venturing out on his own.
• The Trump tax cuts expire in 2025 and a lot of professionals are anticipating higher tax rates in the near future. One tax benefit that is likely to expire is the QBR deduction for small business owners.
• Every client is different, but one piece of advice that every business owner can benefit from is choosing the right entity. A lot will depend on what your lifestyle looks like and what you are already paying for.
• Tax deductions are great but finding tax credits is even better. A good example is the Research and Development tax credit, which can go back as many as three years.
• Most people wait until there is an immediate need to contact their CPA, but that leaves a lot of opportunity on the table.
• Tax planning is very different from tax preparation. Tax planning occurs throughout the year and is a more proactive approach that many don’t realize is an option.
• The relationship you have with your CPA is crucial and can play a pivotal role during tax season. With a good relationship you also get the benefit of your CPA’s experience in other industries. Taxes are changing all the time, so it helps to have someone you can reach out to throughout the year.
• Having a financial plan should incorporate tax mitigation strategies. You, your financial planner, your attorney, and your CPA should be working as a team to manage your business finances. The more they can communicate and work together, the more effective they can be.
• There are a lot of inefficiencies in your business by having your financial plan and tax plan operating in separate silos. Individually, everyone does their job well, but when working together they can really shine.
• Typically, there’s a three-year window on filing for a refund claim. If you feel like your current CPA may not be bringing all the opportunities to your attention, it might benefit you to get a second opinion.
• If you’re planning on selling your business, there are a few things to keep in mind. Is it a stock sale or an asset sale? Do you have clean and accurate records? Plan your sale as far out in advance as you can to make sure you have all that you need for a smooth transition.
• One of the most underrated and overlooked aspects of tax planning is your bookkeeping for your businesses. Monthly bookkeeping makes it a lot easier to plan and stay ahead of the finances and taxes compared to waiting until January or April to figure out what you have to do.
• If you make a lot of money, you're going to pay taxes, and that's just the way it is. But when it's a surprise, that's where the problem comes into play.

Mentioned in this episode:

BrianSkrobonja.com

Common Sense Financial Podcast on YouTube 

Common Sense Financial Podcast on Spotify

MTAconsulting.net

Brian Skrobonja and Tanner Adams are not affiliated. There is no compensation exchanged between Brian Skrobonja and Tanner Adams.

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place.

Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier.

This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

Brian Skrobonja discusses the crucial role a well-defined investing strategy plays in making smarter financial decisions.

He covers ways to create an investing framework you can follow, why blindly taking investing risks is a recipe for disaster, and ways to navigate financial decisions with confidence and clarity.

• Brian starts by highlighting the crucial role a well-defined investing framework plays in securing your financial future.
• He highlights a common misconception about retirement: many people think retirement is the final destination. In reality, it’s just a transition point, and how you prepare for this phase can shape your financial future.
• Brian explains how having a defined strategy can simplify your retirement journey and help ensure a smooth transition.
• Brian compares retirement to halftime in a game: it's a moment to reassess, adjust your strategy, and return to the field with more clarity.
• Do you have a system for achieving your financial goals? Brian encourages you to create a framework that delivers consistent, predictable results.
• Many people misunderstand what it takes to build an effective investing system. Brian stresses that reshaping your thinking and approach is key to achieving larger financial goals and breaking free from outdated processes.
• The multitude of paths available can make financial decision-making feel overwhelming. Brian’s advice: to find success, you must be open to learning and reshaping your thinking about investing.
• Learn how to assess and manage risk effectively and align your investments with your goals.
• Understand that quantifying risk can be challenging because the outcome of an investment may not be clear until much later.
• Second-generation business owners often struggle with newfound wealth and responsibilities. Brian shares insights on how to overcome these challenges and ways to help secure your financial legacy.
• According to Brian, a solid investing formula can help you navigate risk and enhance your financial outcomes.
• How do you define risk? For Brian, your level of education and understanding shapes your personal risk tolerance--being aware of this helps you make more informed decisions.
• The true level of risk you’re carrying when investing can be difficult to assess. Understanding your financial situation and making educated choices helps reduce uncertainty.
• Brian reveals how having a clear plan empowers you to make smarter decisions and manage your portfolio more effectively.
• Brian reveals why a solid investing formula should be built on a checklist focused on proven rules rather than past market performance or others’ opinions.
• If you don’t have a framework for making financial decisions, now is the time to create one.
• Building wealth is not about random decisions or chance—it’s about following a well-designed formula.
• Trying to prepare a financial plan without a clear system leads to wasted time and unpredictable results. Brian’s recommended approach ensures you follow a formula that drives consistent and measurable success.
• Many people misunderstand the concept of diversification. Brian explains that it’s not just about picking stocks—it’s about creating a broader asset allocation framework that works for your unique goals.
• Hoping for a good future is much different than mapping out your future.
• Brian shows how having a clear strategy ensures you make the right decisions at every stage of your financial journey.
• It’s not enough to simply create a framework—you must commit to following it. Brian explains how dedication to your strategy is the key to achieving the financial results you desire.

Mentioned in this episode:

BrianSkrobonja.com

SkrobonjaFinancial.com

SkrobonjaWealth.com

BUILDbanking.com

Common Sense Financial Podcast on YouTube 

Common Sense Financial Podcast on Spotify

How to Make a Few Billion Dollars by Brad Jacobs

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training.

This material contains forward looking statements. Forward looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.  Actual future results and trends may differ materially from what is forecast.

Investing involves risk, including the potential loss of principal. It is not possible to invest in an index. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. 

Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.  This show is intended for informational purposes only.  It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.  

This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. 

Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency. 

The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.

Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. Endowment funds are managed for institutions not individuals. An endowment-like strategy is not an endowment or an endowment fund.

Entrepreneurs by nature are continuously occupied with running their business and wearing multiple hats throughout the day just to keep things running smoothly. Unfortunately, that leads entrepreneurs into making a number of common mistakes.

Mistakes that damage the long-term success and potential of their business.

Listen to the latest episode of the podcast to learn about the four most common financial mistakes entrepreneurs make that put the future of their business at risk, and how you can avoid them.

• Many entrepreneurs find themselves underserved when it comes to financial planning and often rely too heavily on their CPA for financial advice.
• One common mistake entrepreneurs make is assuming that as long as they meet payroll, stay current on taxes and receive payments from customers, their business is financially healthy.
• The problem is CPAs primarily focus on looking backwards and reviewing the previous year or quarter to meet tax filing deadlines, instead of looking forward and making strategic plans for the following year.
• Proper financial planning can help your business reduce its tax liability and increase its profitability.
• Another common mistake is entrepreneurs take the profit of their business as income, which may not be the most efficient method of distribution. Proper planning helps find the balance between income and profit.
• Financial planning can also help you determine whether your business structure is still appropriate for where you are or if it needs to evolve.
• Financial planning also helps mitigate risk, and there are three major risks that every business faces: death, disability, and divorce. Any of these risks becoming a reality can seriously derail a business and its long-term potential.
• Entrepreneurs tend to visualize positive outcomes rather than seriously considering what could go wrong and how they should address those potential problems. Having a financial plan can include agreements and other triggering events that can help facilitate a smooth outcome when facing such events.
• Another common mistake made by business owners is treating the business exit as merely a transaction rather than a transition. Exiting the business involves more than just the sale itself; it requires planning for life after the exit.
• Owners frequently overvalue their business leading to unrealistic expectations regarding the outcome of the sale. Many business owners also underestimate the time and effort required to prepare for a successful exit.
• Preparation for a sale can take years of planning, if done right, and should be incorporated into an overall financial planning process.
• Another common mistake is succumbing to the pressure of spending money to avoid tax liabilities. While tax planning is essential, it should not be the sole, driving factor behind financial decisions.
• FOMO (fear of missing out) can also lead to poor cash flow management, where entrepreneurs may be tempted to seize every opportunity that comes their way without considering its compatibility with their business vision.
• By having a well defined cash flow plan, entrepreneurs can allocate resources efficiently, reduce financial stress, and build wealth inside and outside of their business while helping to maintain stability during both prosperous and challenging times.
• A cash flow strategy is an integral part of an overall financial plan and acts as a roadmap, guiding financial decisions and helping you make the most of the cash flow.

Mentioned in this episode:

BrianSkrobonja.com

Common Sense Financial Podcast on YouTube 

Common Sense Financial Podcast on Spotify

BrianSkrobonja.com/Resources

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place.

Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier.

This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

High income professionals face a unique situation when it comes to their retirement. You have the dual challenge of having your money tied up in your investments and also looming tax burdens once you retire.

Listen to the latest episode of the podcast to learn about a Specially Designed Life Insurance policy, also known as a life insurance retirement plan, and how it could be the wealth preservation tool you’ve been looking for.

• A high cash value life insurance policy can help facilitate tax-advantaged growth that standard retirement accounts may not be able to match.
• Many professionals spend a considerable amount of effort accumulating wealth for most of their life only to find themselves in a bind: their money is inaccessible with looming tax burdens.
• High Income professionals often face a dual tax burden where their current high income places them in a high tax bracket, reducing the net income they have available for investment. Meanwhile, the money you've diligently saved in your retirement plan will be subjected to potentially hefty taxes upon withdrawal later in life.
• Retirement accounts are great vehicles for long-term savings, but they lack flexibility, and you're penalized for early withdrawals leaving you without a readily available source of funds for unexpected opportunities or emergencies.
• For high income individuals grappling with these issues, a Specially Designed Life Insurance policy may be the answer.
• A Specially Designed Life Insurance (SDLI) policy utilizes a high cash value life insurance policy to facilitate tax-advantaged growth and offer flexibility that standard retirement accounts simply can't match.
• Cash value builds over time in the policy, growing in a tax-deferred basis mirroring the benefits of a retirement account, yet the cash value can be accessed at any time through a non-recognition policy loan.
• If properly managed, these policy loans have flexibility and are not required to be repaid during your lifetime and can be simply deducted from the death benefit or cash surrender value when the policy pays out.
• The SDLI strategy enables you to tap into your wealth when needed, providing the liquidity to seize investment opportunities or meet unexpected expenses.
• The policy loans do have an interest charged on them, but well-designed policies provide an opportunity to offset the interest.
• Not all life insurance policies offer the features necessary to execute the strategy effectively. It's a delicate balance that must be carefully managed and is best done with the help of a professional.
• This strategic tool offers several other key advantages for wealth management, asset protection and estate planning.
  • In many jurisdictions, life insurance policies are protected from creditors providing a shield for your assets.
  • Life insurance can also play a crucial role in balancing out an estate amongst surviving family members.
  • A life insurance policy can also provide immediate liquidity to family members or business partners upon a death, ensuring the continuity of a business or farm without the need to sell off assets.
  • Life insurance proceeds can also provide a tax free inheritance to your beneficiaries, helping to preserve your legacy.
• A common pushback against using life insurance as an accumulation vehicle is the perception that it is expensive and takes a long time to accumulate substantial cash values. This is because most common policies are focused on maximizing a death benefit instead of rapid cash value accumulation.
• While there is an undeniable cost associated with a special desire life insurance policy, it's crucial to consider this expense in contrast to the potential tax liabilities.
• Retirement account distributions are generally taxed as ordinary income. For a high income individual, this can be losing a substantial chunk of your retirement savings to taxes.
• In many cases, the cost of a Specially Designed Life Insurance policy could be a mere fraction of what the tax liabilities may be on an investment growth over time.
• The true cost of these policies become apparent only when considering the full financial picture, including current and future tax burdens, access to cash and long-term wealth accumulation.
• A Specially Designed Life Insurance policy is not a catch-all solution but rather a tool within the context of a comprehensive wealth management plan.

Mentioned in this episode:

BrianSkrobonja.com

Common Sense Financial Podcast on YouTube 

Common Sense Financial Podcast on Spotify

BuildBanking.com

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance.

The term BUILD Banking™️, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™️ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC. Any references to protection, safety or guarantees, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.

Skrobonja Insurance Services, LLC does not provide tax or legal advice. The opinions and views expressed here are for informational purposes only. Please consult with your tax and/or legal advisor for such guidance.

The concept of investing is often associated only with money and the pursuit of wealth, but this Annuities are a popular thing these days… why is that the case?

And are they a valid option for those planning their retirement?

In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja explores the world of annuities – from what they are and the three types of annuities all the way to four common myths, Brian’s “unpopular opinion” and why annuities and investments aren’t in competition.

Plus, Brian reveals what he considers the best way to accumulate wealth.

• You need to keep in mind that there are plenty of unknown factors in your life, such as how long you’re going to live, inflation, how the market is performing, healthcare costs, and economic shifts.
• Brian believes that the uncertainty surrounding retirement is why annuities are so popular.
• Annuities are a way to transfer risk over to an insurance company and provide some sense of safety for the future, says Brian.
• According to Statista, the risk of running out of money is a real concern for many retirees, with an estimated $2.53 trillion of retirement assets held inside of annuities.
• Brian breaks down the three types of annuities – variable, fixed-indexed, and fixed-rate – and shares a common misconception about income benefits.
• In his own words, Brian has an “unpopular” stance: he’s a believer in the fact that whether or not someone should use an annuity depends on their situation.
• Brian touches upon when it makes sense for you to use an annuity and when it doesn’t.
• “Capital appreciation over time” is what Brian considers the best way to accumulate wealth.
• Brian explains that annuities and investments aren’t in competition, because they both have a place at different times in someone’s life, depending on their needs.
• Brian goes over four common annuity-related myths.

Mentioned in this episode:

BrianSkrobonja.com

Common Sense Financial Podcast on YouTube 

Common Sense Financial Podcast on Spotify

Statista.com

Brian’s article: My 5-Minute Retirement Plan

Brian’s article: The Financial Fiduciary Standard Explained

Brian's article: What to Do With Cash in a Low Interest Rate Environment

Annuity guarantees rely on financial strength and claims-paying ability of issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are not FDIC insured.

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place.

Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier.

This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

The concept of investing is often associated only with money and the pursuit of wealth, but this fails to capture the true essence of investing.

An ideal future isn’t encapsulated by a stack of $100 bills.

The true essence of investing is not about building wealth, but about building the atmospheric conditions that align with your ideal future self.

Listen to the latest episode of the podcast to learn why a relentless focus on accumulating wealth will end up costing you what you’re actually working for, and why you need to have a more encompassing vision for what your retirement can be beyond your portfolio.

• Your quality of life isn’t determined just by the number in your bank account. Those dollars are merely the resources you use to create the ideal life.
• Wealth extends beyond the mere accumulation of money. It’s about the life you can construct around it and the atmospheric conditions you can create for yourself.
• You can possess all the wealth in the world, but without the cornerstones of a healthy life like thriving relationships, health, purpose and meaning, the value of that wealth diminishes.
• We need to exercise caution in our perception of wealth and the significance we ascribe to money. Investing shouldn’t only mean contributing to your financial future but should be considered building towards your ideal future.
• Having a vision for your retirement that involves activities and people requires a keen understanding of what’s important.
• Brian had a client who embodied the rags to riches narrative that people in the West admire so much, but after years of diligently working toward accumulating his wealth, this client ended up sacrificing his health. Instead of traveling the world and enjoying the fruits of his labor, this client spent his golden years visiting doctors and hospitals.
• “Man sacrifices his health to make money, then he sacrifices his money to recuperate his health.” -Dalai Lama
• A healthy lifestyle lays the foundation for our capacity to live fully and pursue our ambitions actively. The importance of investing in health can not be overstated.
• Along with health, investing into your relationships is paramount. Relationships form an integral part of our support system. The rewards are not always monetary, but they are no less important, and investing time into relationships is crucial.
• Investing into a steady flow of income beyond just building a portfolio is another key component to enjoying your retirement.
• Growth is not income generating and growth is not the same as income. Retirement needs to be a time of shifting from a diversification of growth assets into a diversification of income producing assets.
• The true essence of investing is not about building wealth, but about building the atmospheric conditions that aligns with your ideal future self. That includes nurturing your health, cultivating meaningful relationships, ensuring a steady income, and fostering cognitive ability.
• Money is a tool to reach those goals, and not the goal itself.
• Retirement should be seen as a chapter in your life that is ripe with potential.
• True wealth is not just the abundance of money, but the presence of all the components that make life fulfilling.

Mentioned in this episode:

BrianSkrobonja.com

BuildBanking.com

Previous episode - Make Health Planning Part of Your Retirement Planning, with Regan Archibald

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in place.

Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier.

This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

Brian Skrobonja goes through the five questions you need to answer to gauge how prepared you are for retirement.

He covers the benefits of having a detailed income plan, how to design a comprehensive tax strategy, and what it takes to enjoy your retirement without constantly second-guessing your financial decisions.

• Brian starts the conversation by explaining why retirement is more than just a financial milestone. It's a complete shift in how you use money and approach life.
• According to Brian, setting a retirement date before having an optimized retirement plan is like quitting a job before you have another one lined up.
• Retirement isn't just about having money in the bank or having an investment account. It's about understanding how that money converts into consistent, reliable income that can support your lifestyle for decades.
• Retirement's a great thing--and it could be very good, but you need to be prepared.
• Brian goes over the questions that gauge how well prepared you are for retirement.
• Do you have a detailed income plan? Too many retirees assume that their portfolio will increase in value in a straight line and last forever.
• The problem with assumptions is that it leads to gaps. And even a small gap in your expenses or income can compound into significant financial stress over time.
• For Brian, if you haven't taken the time to answer the hard questions about how much you'll need, where that money will come from, and how taxes and inflation will affect it, you're setting yourself up for a lot of uncertainty--and uncertainty is the last thing you want in retirement.
• When you're working, your paycheck funds your lifestyle. In retirement, your assets become your paycheck.
• The most important part of planning for retirement is knowing your number--How much money it will take to sustain your ideal retirement lifestyle.
• Brian explains how retirees can develop the confidence to enjoy their retirement without constantly second-guessing their financial decisions.
• Social Security is often viewed as a cornerstone of retirement income, but it's also one of the most misunderstood.
• According to Brian, people assume Social Security will cover a significant portion of their expenses, but the reality is that Social Security is designed to only supplement your income, not replace it.
• Brian highlights how continuing to work in some capacity in retirement can provide a sense of purpose and help you remain connected to your community.
• Brian talks about the benefits of purposefully organizing your assets.
• He shares how categorizing your assets into three buckets--immediate income, long-term growth, and cash reserves--can help ensure your money works seamlessly to support your life, goals, and dreams.
• Brian explores the benefits of having a tax strategy.
• Taxes can erode your retirement savings faster than you think. They’re not as brutal as market volatility or inflation, but their impact can be just as significant.
• Without a proactive tax strategy, you're leaving the door wide open for the IRS to take more of your hard-earned money than necessary.
• For Brian, one of the best ways to manage taxes is to strategically time your withdrawals. This might mean pulling from your taxable and tax deferred accounts first, leaving your Roth IRA for last.
• Understand that taxes aren't just a problem to solve, they're an opportunity to optimize.
• Brian answers a question most retirees ignore: if something happens to you, will your spouse be financially secure.
• A great place to start answering this question is Social Security Optimization. The timing of when you or your spouse claim Social Security benefits can significantly impact the survivor benefits.
• Brian talks about estate planning and why you need to keep your documents up to date.
• Without regular updates, the documents meant to protect your wishes and your loved ones can unintentionally cause stress, confusion, or worse, legal disputes.

Mentioned in this episode:

BrianSkrobonja.com

SkrobonjaFinancial.com

SkrobonjaWealth.com

BUILDbanking.com

Common Sense Financial Podcast on YouTube 

Common Sense Financial Podcast on Spotify

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training.

This material contains forward looking statements. Forward looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.  Actual future results and trends may differ materially from what is forecast.

Investing involves risk, including the potential loss of principal. It is not possible to invest in an index. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. 

Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.  This show is intended for informational purposes only.  It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.  

This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. 

Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency. 

The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.

Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. Endowment funds are managed for institutions not individuals. An endowment-like strategy is not an endowment or an endowment fund.

Many people accumulate their wealth in a bank or a long-term investment, and this may create problems.

But there is a different strategy.

In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja goes over the Build Banking strategy and how you can consider a different banking paradigm using specially designed life insurance policies that allow you to start banking on yourself.

• Most people know that banks use other people’s money to generate profits. This process is known as Fractional Reserve Banking, which is basically the bank using the spread between interest rates to profit.
• For banks, it goes a little deeper. Banks can loan out the money they have on deposit to people, and those dollars are then deposited again, which begins the cycle anew. This process acts as a money-printing machine within the economy.
• Banks aren’t currently required to hold any reserves to cover their customer’s deposits. The result of Fractional Reserve Banking is the expansion of the money supply which contributes to increased inflation.
• Silicon Valley Bank recently found itself in trouble and was unable to cover its liabilities leaving depositors to rely on the government to bail them out.
• It’s not realistic to be able to bypass the banking system entirely, but there are ways to take control of how you save and store money with a personal bank-like strategy.
• Build Banking uses a specially designed whole life insurance policy that’s built on the inherent tax-favored nature and unique capabilities of those policies.
• What makes Build Banking different is the design allows for rapid cash accumulation with uninterrupted tax-free growth, while having access to cash without having to rely on banks or Wall Street, but you have to set aside your preconceptions around life insurance.
• The challenge is the language around life insurance policies and how most people understand what they are capable of.
• With traditional banking, you either accumulate money and spend or borrow and then repay it. The Build Banking method offers a different strategy with a specially designed life insurance system that allows you to take back some of the control.
• Not all policies are the same and loan features can vary greatly, so it’s important to work with a professional with experience in this area.
• The main benefit of the Build Banking strategy is the ability to have your money remain in the policy and continue to grow uninterrupted, while simultaneously using a policy loan from the insurance company for personal use.
• A business owner has an extra advantage because they can leverage the loan in their business, creating both an internal and external return.
• This strategy also gives the policy owner a lot of control over how and when the loan is repaid because of the nature of the life insurance policy. 

Mentioned in this episode:

BrianSkrobonja.com

BuildBanking.com

BUILD Banking™️ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary.

Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance.

The term BUILD Banking™️, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™️ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC.

Any references to protection, safety or guarantees, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.

Skrobonja Insurance Services, LLC does not provide tax or legal advice. The opinions and views expressed here are for informational purposes only. Please consult with your tax and/or legal advisor for such guidance.

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place.

Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier.

This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

Time is your most precious resource, but how you use it is up to you.

The shift from earning to retirement can be quite challenging, as you have to thread the needle between income, growth, and time.

In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja goes over the most important mindset shift people need to make in order for their retirement plan to succeed.

• It is possible to retire without growth, but it’s impossible to succeed without income. But many people have trouble shifting their mindset from focusing on long-term growth into a consistent and reliable income.
• When you invest long-term, that means not having to withdraw money from your assets for a long time. But once you enter retirement, your timeline moves from the future to the present.
• This transition requires a mindset shift to be made before significant progress can be made.
• Retirement planning is a discovery process that boils down to learning whether or not you have an income gap in retirement and, once that’s discovered, the whole plan is built around replacing that income.
• Without that number, everything else is a guessing game. If you shortcut this step with estimates, you will only compound the issue downstream.
• Retirement seems like a simple concept, but it’s surprisingly complex and solving the issue with old ways of thinking will lead you astray.
• Future performance of investments can’t be determined by looking at the past. An investment doesn’t address the risks you face in retirement. The sooner you figure out that investing is a spoke in a very large wheel, the sooner you can begin to formulate a true retirement roadmap.
• There are common components for retirement scenarios, like the income gap.
• There are also common risks that all retirement plans need to account for: sequence of return risk, market risk, interest rate risk, mortality risk, legislative risk, longevity risk, and health risk. All retirement plans should be built around the idea of protecting yourself and mitigating as much risk as you possibly can.
• Most people’s largest asset is their income, but it’s often not considered for insurance.
• Confirmation bias can hinder our ability to consider alternative perspectives and make the mindset shifts we need to make in retirement. People can find themselves endlessly searching for experts to tell them that they don’t need to change their strategy in retirement because of our natural need to confirm our beliefs.
• The more successful a person becomes, the more valuable their time becomes. To preserve those valuable hours, it becomes increasingly more important to surround yourself with professionals to whom you can delegate responsibilities to free up time.
• Insurance is just a form of delegation. You delegate your risk to the insurance company, which mitigates the risk and increases the quality of your time.
• Delegating the research and leveraging the experience of a professional in retirement planning can help you leverage your time with confidence.

Mentioned in this episode:

BrianSkrobonja.com

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in place.

Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier.

This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

“The more money you have, the bigger the mistakes,” someone once told Brian…

How does that translate into retirement planning? And how can you help ensure you approach your financial planning for your “golden years” in the best possible way?

In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja goes over five retirement mistakes that you should stay away from at all costs, as well as what retirement is actually about.

• Brian touches upon something that a very successful person told him when he was getting started with his business back in 1993: ‘The more money you have, the bigger the mistakes.’
• With his desire to work hard and strong work ethic, Brian quickly became successful. But there was a problem with his approach – Brian opens up about that.
• Brian shares some of the retirement mistakes he has seen people make in his 30-year career.
• Having a distorted view of what wealth really is and having what Brian calls “vertical diversification” are two common mistakes Brian has seen over and over again in his career.
• There are many factors to consider when attempting to diversify. You shouldn’t believe that a bank account and a portfolio of public investments are all that’s available to you as you move your diversification horizontally.
• Brian points out a common practice to avoid: making an investment decision based on the tax deduction alone.
• When making decisions regarding how you save money, Brian suggests considering how you’ll ultimately use the money.
• Brian discusses why you shouldn’t have too much dependency on markets nor having complacency.
• Brian sees retirement as a balancing act between growing money for the future while drawing income for your retirement needs.

Mentioned in this episode:

BrianSkrobonja.com

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place.

Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier.

This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

Brian Skrobonja shares practical tips on year-end tax planning so you can make informed decisions and take control of your financial future.

He explains why now is the perfect time to assess your financial situation and the type of strategic moves you can make to reduce your tax liabilities, maximize savings, and enhance your overall financial health.

• Brian starts the conversation by revealing the key elements of a well-designed year-end tax planning strategy.
• Tax planning isn't an April 15th activity. The tax return itself is just a scorecard. For Brian, tax planning goes from January to December of the year you're in.
• Brian talks about the benefits of being intentional about allocating resources and ensuring you remain in a reasonable tax bracket throughout the year.
• According to Brian, it’s unfortunate that most tax preparers recommend buying vehicles or equipment to save on taxes. Brian explains how that line of thinking may be costing you money, not saving you money.
• Brian reveals why he doesn’t defer taxes into retirement accounts.
• He explains how tax deferral is not a tax saving. For a strategy to be a tax saving, it needs to actually save you taxes. And a tax deferral is not a savings; the word defer gives it away.
• Brian goes through examples of real tax saving strategies that can reduce your current tax bill, build wealth, and help ensure you don’t have future tax liabilities.
• Brian talks about the best way to be paid as a business owner.
• While ordinary income may seem attractive, this form of income is also the highest taxed income in our tax system.
• Brian explains why business owners should not take ordinary income and instead take profits as a dividend. This can often carry a more favorable tax rate and can lead to some significant tax savings over time.
• The other mistake Brian sees people make is receiving an income and then making charitable contributions from their personal account. Often, this can result in overpaying on your taxes because of the standard deduction.
• Brian goes through investment options that carry unique tax benefits and lead to significant reductions in taxable income.
• The default approach for many people is to receive a salary, defer money into their 401k, pay down debt, and approach retirement with hands off the wheel. Brian explains why sometimes this is leaving money off the table.
• If you make money, there will be taxes to manage. Any tax-saving strategy you choose to deploy should be done legally and ethically. The good news is that there is nowhere in the tax code that says you have to pay the maximum amount in taxes.
• Brian highlights the benefits of keeping yourself updated with tax laws. Tax laws are always evolving and being informed about these changes can lead to better decision making.
• How to help ensure you're taking full advantage of the potential opportunities and the numerous tax benefits available to you.
• As the year concludes, Brian recommends taking the time to engage in comprehensive tax planning. This can make a meaningful difference in short-term savings and your long-term financial health.

Mentioned in this episode:

BrianSkrobonja.com

SkrobonjaFinancial.com

SkrobonjaWealth.com

BUILDbanking.com

Common Sense Financial Podcast on YouTube 

Common Sense Financial Podcast on Spotify

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.

Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.

The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training.

This material contains forward looking statements. Forward looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.  Actual future results and trends may differ materially from what is forecast.

Investing involves risk, including the potential loss of principal. It is not possible to invest in an index. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.

Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.  This show is intended for informational purposes only.  It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.

This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.

Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency.

The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.

Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. Endowment funds are managed for institutions not individuals. An endowment-like strategy is not an endowment or an endowment fund.