Fearless Money Talks

23. Don't Buy a Business Without Asking These Questions First with David Koch

Buying a business sounds like the move. Be your own boss. Generate income. Maybe even step back and let it run. But most people walk into the process not knowing what they don't know, and that gap can cost them. This episode of Fearless Money Talks brings in David Koch [https://www.halberthargrove.com/member/david-a-koch/], senior wealth advisor and director of portfolio management at Halbert Hargrove, for a candid conversation about what smart business buyers do before they sign anything. David walks through what he looks for when a client comes to him with a deal on the table and it goes well beyond the numbers. There's a question he recommends asking every seller that sounds like small talk but can tell you how dependent the business is on one person. There's a reason he assumes the books are ugly until proven otherwise. And there's a cost you should probably pay before spending millions that buyers may skip because it feels expensive. The conversation also covers customer concentration risk, what "passive income" looks like in practice versus in theory, how roll-ups work, and ways to structure a deal so the seller doesn't vanish the moment the wire hits. If you've ever thought seriously about buying a business or you're already in the middle of it, this episode can help with what you look for. Connect with us!  * Kelli Kiemle on LinkedIn [https://www.linkedin.com/in/kellikiemle/] * Brian Spinelli on LinkedIn [https://www.linkedin.com/in/brianspinelli/] * David Koch on LinkedIn [https://www.linkedin.com/in/1davidkoch/] * Halbert Hargrove Website [https://www.halberthargrove.com/]

22. It’s Not About the Money: How to Talk to Your Parents About “The Plan”

Talking to your parents about money sounds like it should be straightforward. It’s not. This episode of Fearless Money Talks takes on one of the most uncomfortable financial conversations out there: inheritance. Or more accurately, everything around it that isn’t really about the money. Kelli Kiemle and Brian Spinelli unpack why most people aren’t usually asking “What do I get?” They’re asking, “Are my parents going to be okay?” and “What happens if they’re not?” Brian walks through how these conversations show up in real life, from adult children worried about becoming caregivers to parents who aren’t sure how much to share and when. There’s a practical breakdown of ways to approach the discussion, whether that’s talking through account values, introducing key advisors, or just making sure someone knows where the documents are kept. They also get into what can go sideways, what a “prepared” parent can look like beyond a will, and why retirement lasting 30-40 years has changed the entire equation. And throughout it all, there’s a consistent theme: if you’re going to start this conversation, lead with empathy. Because the moment it feels like it’s about the money, it’s already off track. It’s not a fun topic. But it might be one of the most important conversations you avoid, until you can’t. Connect with us!  * Kelli Kiemle on LinkedIn [https://www.linkedin.com/in/kellikiemle/] * Brian Spinelli on LinkedIn [https://www.linkedin.com/in/brianspinelli/] * Halbert Hargrove Website [https://www.halberthargrove.com/]

21. The Roth Conversion Playbook with Nick Strain

What You’ll Learn * How Roth conversions actually work * Why timing matters more than most investors realize * The tax traps that can make conversions expensive * How Roth conversions affect Medicare premiums * Why inherited IRA rules changed under the SECURE Act * What the Roth five-year rule means in practice * When paying taxes from the IRA may still make sense Most people have probably heard that a Roth IRA [https://www.halberthargrove.com/news-guidance/what-is-an-individual-retirement-account-ira/] is a good thing. Far fewer people understand what it actually takes to get there or what it costs to get it wrong. This episode of Fearless Money Talks brings in Nick Strain [https://www.halberthargrove.com/member/nickolas-r-strain/], who fields the Roth conversion questions so often that Brian said he just calls Nick whenever one comes up. Together, the three dig into what a Roth conversion actually is, why timing matters more than most people realize, and why converting your entire IRA at once might be one of the more expensive mistakes you could make. The conversation moves through the full picture: the clients who can likely benefit most (recently retired, business owners with a rough year, someone staring down a big RMD at 73), the planning that needs to happen before you sign anything, and the hidden costs that don't show up until April or on your Medicare bill. Nick also walks through what the paperwork actually looks like, why you can't undo a conversion once it's done, and a legacy planning angle that most people don’t think to ask about. It's a genuinely useful conversation for anyone who has ever nodded along when someone mentioned Roth conversions without fully knowing what they were agreeing to. Connect with us!  * Kelli Kiemle on LinkedIn [https://www.linkedin.com/in/kellikiemle/] * Brian Spinelli on LinkedIn [https://www.linkedin.com/in/brianspinelli/] * Nick Strain on LinkedIn [https://www.linkedin.com/in/nick-strain-cfp%C2%AE-cpwa%C2%AE-aif%C2%AE-96738619/] * Halbert Hargrove Website [https://www.halberthargrove.com/]

20. Q1 2026 in Review: Expect the Unexpected

What if everything went wrong in the markets and it still wasn't as bad as you expected? This episode of Fearless Money Talks is a Q1 2026 market recap that actually earns its runtime. Kelli Kiemle and Brian Spinelli walk through a quarter that had no shortage of headlines, oil spikes, geopolitical tension, AI panic, inflation jitters, and ask the question most investors forgot to ask: so how bad did things actually get? The answer is more interesting than the noise suggested. Brian discusses why oil shocks have historically affected portfolios differently over time, what the SaaS selloff was really about, and how international and emerging markets performed relative to the US in Q1. He also walks through the role diversification can play in a portfolio, including a plain-language explanation of reinsurance, an asset class that sounds obscure until he explains the connection to your everyday homeowner's insurance. There's also an honest conversation about investor psychology: why people feel like the market is collapsing when historical patterns suggest otherwise, why the urge to do something in volatile moments is worth examining, and what a "lost decade" has looked like historically when a quick recovery never came. Kelli admits she's been trained not to look at her 401k. Someone's 401k became a 201k. Brian has thoughts about that too. It's a market update for people who don't love market updates, which, as it turns out, includes at least one of the hosts. Connect with us!  * Kelli Kiemle on LinkedIn [https://www.linkedin.com/in/kellikiemle/] * Brian Spinelli on LinkedIn [https://www.linkedin.com/in/brianspinelli/] * Halbert Hargrove Website [https://www.halberthargrove.com/]

19. The Real Cost of Giving

What happens to all that boomer wealth everyone keeps talking about? And while we're at it, how much should you actually spend on your nephew this Christmas? This episode of Fearless Money Talks takes a sharp turn from the sentimental to the sobering. Brian Spinelli and Kelli Kiemle are joined by producer Brodrick Lothringer, who jumps in along the way with questions that keep the conversation honest. Together they open with a topic that doesn't get nearly enough airtime: the real cost of long-term care, who ends up paying for it, and what can happen to families when one side saved and the other didn't. Longevity and the possible quiet financial strain on adult children come up, because these are the conversations clients are having, even if they'd rather not. Then things get lighter. The team digs into holiday gift giving, the etiquette of receipts tucked into boxes, the white elephant debate, experiences versus things, and whether a gift card is thoughtful or just a polite way of saying "I didn't know what to get you." Kelli has strong opinions. Brian has a Chihuahua mug. Brodrick has a closet full of mystery tools from his father-in-law. It's a mix of real financial stakes and the kind of family dynamics that can make the holidays feel complicated for a lot of people, sometimes in the same conversation. Connect with us!  * Kelli Kiemle on LinkedIn [https://www.linkedin.com/in/kellikiemle/] * Brian Spinelli on LinkedIn [https://www.linkedin.com/in/brianspinelli/] * Halbert Hargrove Website [https://www.halberthargrove.com/]