Author: Nolan Clark

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Pilot Money Guys

Flight #68: What To Do With Your Bonus Check

What should you do with unexpected financial windfalls, such as a bonus check or unforeseen extra income? Today we answer this question and address the essential balance between celebrating your financial wins and planning for the future, sharing valuable tips to avoid financial pitfalls and the importance of building a robust emergency fund.

Listen in to hear the benefits of having liquid assets and paying off debt, as well as insights into optimizing your 401(k) and leveraging real estate investment in your financial portfolio. You’ll learn how to make the most of unexpected financial gains and secure a prosperous future.

What You’ll Learn In Today’s Episode:

  • What to do with your bonus checks.
  • The benefit of celebrating your wins and bonuses.
  • The importance of consulting your tax professionals.
  • Tips to avoid getting in trouble with the IRS.
  • Why it is essential to have an emergency fund.
  • The importance of paying off your debt.
  • How to maximize your 401(k).
  • Where real estate investment can be used in your portfolio.

Ideas Worth Sharing:

  • “There is no spending like guilt-free spending.” – Robert Eklund
  • “It is important to plan, but we can’t plan for tomorrow. We don’t know what tomorrow holds for us. So, take time to celebrate.” – Charlie Mattingly
  • “The ability to have liquid assets is so advantageous we can’t even overstate it.” – Charlie Mattingly

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Pilot Money Guys

Flight #67: Marriage and Money: Navigating Financial Harmony

Discover the secrets to a harmonious marriage and a prosperous financial life in this engaging panel discussion. Join us as we sit down with our team members at Leading Edge Planning, including Betsy Wheeler, Paraplanner, Kevin Gormley, Principal, Jon Cremer, Financial Advisor, and Nolan Clark, Paraplanner, to explore the intricate relationship between marriage and money.

Listen in to learn about the common causes of financial disputes in couples, as well as how to navigate opposing spending habits. You’ll gain insights into the importance of understanding your partner’s financial background and the significance of setting and sharing goals. We’ll also discuss the role of designated date nights, the art of compromise, and the liberating nature of a well-crafted spending plan.

What You’ll Learn In Today’s Episode:

  • The importance of tracking your spending
  • How to create a spending plan.
  • The importance of understanding where your partner’s habits come from.
  • Why you must have open communication around financial goals.
  • How to let the little details go in marriage money conversations.
  • The benefit of designating a night for date night.

Ideas Worth Sharing:

  • “The ultimate goal should be to spend less than you make.” – Nolan Clark
  • “Before you ever have the budget discussion in your marriage, have the discussion about goals. A good idea of where we’re heading to is vastly more important than how much we can spend at Starbucks.” – Jon Cremer
  • “Your spending reflects what is important to your family. So, start with your values and start with those goals and then work backward.” – Charlie Mattingly

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Pilot Money Guys

Flight #66: Flying High with Fighter Pilot Roger Lance

In this episode, we have the privilege of hearing the remarkable aviation journey of Roger Lance, a retired Air Force officer and Vietnam War veteran. Roger takes us on a captivating flight through his experiences, from his early days in aviation to the intense moments in the war. He provides a glimpse into the different aircraft he piloted and shares his favorites, shedding light on the competitive yet camaraderie-filled world of flying.

Roger’s insights into the importance of teamwork and humility in the Air Force underscore the collaborative efforts that keep aviators soaring. Join us for an engaging conversation that offers a unique perspective on the world of high-powered aircraft and the exceptional individuals who fly them.

What You’ll Learn In Today’s Episode:

  • Roger’s aviation journey. 
  • What got him interested in flying. 
  • Which planes he was in charge of flying. 
  • How he got into the Air Force. 
  • His favorite plane to fly.

Ideas Worth Sharing:

  • “When flying these high-powered airplanes, you have to think you’re the best to be the best even though you are not.” – Roger Lance
  • “Flying is really competitive. You wish everyone well, but you want to beat the other guy.” – Roger Lance
  • “You may think you’re God’s gift to aviation, but the ones before you were better.” – Roger Lance

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Pilot Money Guys

Flight #65: Mastering the Art of Holistic Investing with Andy Christopher and Sunil Wahal

Today we’re joined by investment expert Andy Christopher, a Naval Academy graduate and F-35 Contract Instructor Pilot, and Sunil Wahal, a Professor at Arizona State University and Consultant to Avantis Investors. Together, they shed light on the intricacies of investing, emphasizing its profound connection to life itself, and the importance of self-awareness, helping you calibrate your risk tolerance and assess potential risks in your investment portfolio.

Listen in as we discuss the critical aspect of diversification, particularly relevant for pilots, highlighting the lessons learned during the challenges of the COVID-19 pandemic. You will learn the art of asset allocation and its alignment with your future consumption plans, steering you toward smart investment decisions. 

What You’ll Learn In Today’s Episode:

  • How to think about investing more holistically.
  • The importance of diversifying your portfolio.
  • Why you need to assess your risks in investments.
  • How to approach asset allocation.
  • Why re-balancing your portfolio is key.
  • Where private equity fits in.
  • Why index funds may be misunderstood.

Ideas Worth Sharing:

  • “Save today to consume something in the future. That is how investing works.” – Sunil Wahal
  • “Re-balancing makes a big difference to investors’ portfolios. It is one of the most valuable things financial advisors do for their clients—it helps them so much. Done thoughtfully, it can help on the tax side as well. ” – Sunil Wahal
  • “The best way to think about private equity is to think about what risk you are taking.” – Sunil Wahal

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