Money Made Simple with Oakwood Wealth Partners

Difficult Conversations: Your Future Living Plan (Feat: Celeste Gurule)

There are certain conversations every family knows they should have. Most just don’t know how to start. In this episode of Money Made Simple, Mike and Nick Lockwood sit down with Celeste Gurule to unpack one of the most avoided but important topics in life planning. What happens when your parents can no longer make decisions for themselves, and how do you prepare for that moment before it becomes a crisis? This conversation goes beyond finances. It explores the emotional realities that keep families stuck. Parents fear losing independence. Children fear overstepping. Both sides avoid the discussion, often for the same reason. They are trying to protect each other. But waiting comes at a cost, especially when the reality is that most families will face some form of long-term care need at some point. Celeste introduces the concept of a Future Living Plan, a framework designed to help families think through not just money, but identity, community, health, living arrangements, and the roles each person will play over time. The goal is not perfection. It is progress. It is clarity. And most importantly, it is making sure your wishes are understood before someone else has to guess. This episode is not about having all the answers. It is about starting the conversation early, approaching it with care, and recognizing that planning ahead is one of the most meaningful gifts you can give your family. For more information surrounding the Future Living Plan and an Inventory of Information Checklist, visit the link below: https://drive.google.com/drive/folders/1FB1agwW4ZsnCHMhmNa6zWIl2bD_MTVa3?usp=sharing Chapters: 0:00 - Introduction 1:37 - Celeste's background and career 4:18 - Personal experiences with future living plans 7:32 - Dealing with cognitive decline 11:45 - The 7 areas to address for future living 17:40 - Starting these conversations early 27:37 - Why these conversations are so hard 34:48 - Key takeaways 39:50 - Don't let perfect be the enemy of good 41:40 - Closing remarks

Suddenly Single: When Bad Things Happen to Good People

Some of the most important financial conversations are also the hardest ones to have. In this episode of Money Made Simple, Mike and Nick Lockwood step into a reality many families face but few feel prepared for. What happens when a spouse passes away or a marriage ends, and one person is suddenly left to navigate a financial life they were never fully involved in? Drawing from personal experience and years of working with widows, widowers, and individuals going through divorce, Mike and Nick walk through both the emotional and financial sides of becoming suddenly single. This is not just about accounts and documents. It is about grief, uncertainty, and the overwhelming question most people ask in that moment. What do I do now? The conversation focuses on helping listeners slow things down and take the next right step. From understanding what you have, to identifying what needs immediate attention, to thinking through income changes and long-term stability, the episode provides a framework for navigating an incredibly difficult transition. It also highlights the importance of preparation for those who are still married, encouraging couples to communicate, stay involved, and ensure both partners understand the full financial picture. At its core, this episode is about more than planning. It is about protecting the people you love, reducing confusion in moments of crisis, and making sure no one is left to figure everything out alone. Chapters: 0:00 - Introduction 3:10 - This is personal for us 6:10 - What a financial leader is doing regularly 15:15 - You've lost your spouse. Where to start? 18:40 - What do I even have? 21:10 - What do I need to do right now? 27:06 - What changes and what stays the same? 32:56 - Lean on the support of your wealth manager 36:25 - Get your copy of Decision Decade 37:50 - Closing remarks

My Dad Says We've Seen This Before. Have We? (Feat: Dominic Pappalardo)

The economic story right now can feel confusing. One month the headlines warn about a recession. The next month strong job numbers suggest the opposite. At the same time, interest rates remain elevated, the U.S. dollar has begun to weaken, and investors are trying to figure out how emerging technologies like artificial intelligence might shape the future. In this episode of Money Made Simple, Mike and Nick Lockwood sit down with Dominic Pappalardo, Chief Multi-Asset Strategist at Morningstar Wealth, to bring clarity to the conversation. Together they break down what the current economic environment actually looks like beneath the headlines and what investors should truly be paying attention to. The discussion explores how interest rates may evolve, why the dollar’s movement matters even for investors who never leave the United States, and whether international markets may finally be positioned for a stronger run. The conversation also takes a closer look at artificial intelligence and its impact on both markets and the workforce. Is the excitement around AI justified? Where might the real opportunities exist beyond the largest technology companies? And how should investors think about a future where technology could reshape entire industries? For investors who feel like the economy they see on television does not match the one they experience in their daily lives, this episode aims to provide perspective. Markets change, economic cycles evolve, and new technologies emerge, but understanding the bigger picture can help investors stay focused on what truly matters for their long term financial plans. Chapters: 0:00 - Introduction 2:14 - Dom's background in investment management 7:50 - Does this really impact you? 16:05 - Savers vs. spenders with interest rates 23:11 - Building out investment portfolios 31:39 - AI's impact on investment management 36:01 - Focusing on the long-term vision 38:45 - Closing remarks

My Dad Says I Need a ROTH IRA. Is That True?

Everyone has heard of a ROTH IRA. Most people have been told they should have one. Very few people truly understand how it fits into their financial life. In this episode of Money Made Simple, Nick and Mike unpack the bigger picture behind ROTH strategies and why they have become such a central part of retirement conversations. This is not just about checking a box or following generic advice. It is about understanding how taxes, timing, and long-term goals intersect. The conversation explores how different ROTH options can create flexibility, reduce future tax pressure, and potentially reshape the way wealth is transferred to the next generation. At its core, this episode challenges listeners to think beyond “Do I need a ROTH?” and instead ask better questions. What might my tax world look like later? How do today’s decisions affect my retirement income? How do I position my assets wisely for my family? As with most financial strategies, the answer is not automatic. It depends on your situation. But when used intentionally, a ROTH can be more than just a retirement account. It can be a powerful planning tool. Chapters: 0:00 - Introduction 1:43 - The history behind ROTH 5:30 - Pre-tax vs. ROTH contributions 10:15 - Breakdown on ROTH 401k and 403b plans 16:18 - What is a ROTH Conversion? 25:00 - Leveraging unused 529 money for ROTH IRA 26:20 - Nick's strategic approach to pre-tax vs. ROTH 29:40 - Mike's approach to pre-tax vs. ROTH 36:15 - ROTH creates flexibility in planning 49:45 - Your free copy of Decision Decade 40:30 - Closing remarks

The Financial Questions Employees Ask and Employers Don't Expect

In this episode of Money Made Simple, Mike and Nick Lockwood explore a reality they see every day while working with employer groups. While retirement plans are often the starting point, the financial questions employees bring to the table go far beyond plan enrollment and contribution limits. From the employer perspective, Mike shares what consistently shows up in conversations with leadership teams. There is a growing lack of financial literacy, uncertainty around who employees should turn to for guidance, and a desire to support teams without always knowing how. Retirement plans are important, but they are only one part of a much bigger financial picture. From the employee side, the questions come fast and often feel overwhelming. How much should I contribute. Should I choose pre tax or Roth. How do I balance saving for retirement while trying to buy a home or support my family. Beyond the basics, deeper planning questions surface around trusts, Social Security timing, pension decisions, insurance needs, and ultimately the question everyone asks at some point. When can I retire. Throughout the conversation, Mike and Nick emphasize a core truth in financial planning. The answer to most of these questions is, it depends. Context matters. Education matters. And having a trusted team to help connect the dots makes all the difference. Chapters: 0:00 - Introduction 4:02 - What's creating stress among employees? 10:22 - Large employers struggle to properly educate 14:34 - "Americans are confident in retirement, but scared of daily finance" 19:35 - Goal-setting and aligning your financial plan 24:53 - When can I retire? 31:01 - The opportunity that exists for employers 35:22 - Sharing a client story 37:12 - Closing remarks