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Best In Wealth Podcast

Best In Wealth Podcast

By: Scott Wellens
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 This is the best in Wealth podcast – A show for successful family stewards who want real answers about Retirement and investing so we can feel secure about our family’s future. Scott's mission is simple: to help other family stewards build and maintain their family fortress. A family steward is someone that feels family is the most important thing. You go to your job every day for your family. You watch over your family, you make sacrifices for your family, you protect your family. I work with family stewards because I am one; I have become an expert in the unique wealth challenges family stewards face. Scott Wellens is the founder of Fortress Planning Group - an independent, fee-only, registered investment advisory firm. Fortress Planning Group is dedicated to coaching clients toward a holistic view of wealth and family stewardship. Scott is a certified financial planner, a fiduciary and has been quoted in the industry’s leading websites including Forbes, Business Insider and Yahoo Finance. Scott is also a Dave Ramsey Smartvestor Pro in the greater Milwaukee and Madison areas.Copyright 2025 Scott Wellens Economics Parenting & Families Personal Finance Relationships
Episodes
  • The Secret to Stress-Free Investing, Ep #262

    The Secret to Stress-Free Investing, Ep #262
    Aug 22 2025
    We all have some worries, those everyday anxieties that creep into our lives—money, kids, jobs, and adding more stress to your life in the form of an investment portfolio can seem like too much at times. So this week, I’m sharing how understanding one key financial theory can transform your approach to investing and seriously lower your stress. This episode takes you through the groundbreaking work of Eugene Fama and the efficient market hypothesis, explaining why trying to outguess the market is usually a losing game. I’m also sharing how, by trusting the power of the market and building your strategy around solid, evidence-based principles, you can ditch investing anxiety and set your family up for long-term success. So if market swings keep you up at night or you’re looking for a more peaceful way to manage your portfolio, tune in for a fresh perspective and actionable advice on taking the stress out of investing—once and for all. Outline of This Episode
    • [00:00] Your foundation of knowledge to experience stress-free investing.
    • [05:58] Understanding Efficient Market Hypothesis (EMH).
    • [09:40] The power of market consensus.
    • [11:55] How fast does the stock market react?
    • [13:12] Efficient market hypothesis simplified.
    • [17:27] The myth of market-beating funds.
    • [19:22] Reduce investment stress by demystifying the market.

    Does Investing Have to Be One More Worry? Retirement account fluctuations, big market drops like those in 2008, COVID-19, and trade war-related selloffs are enough to send anyone’s blood pressure soaring. One of the most important concepts in modern finance: the Efficient Market Hypothesis (EMH), developed by Nobel laureate Eugene Fama. In simple terms, the EMH says that all the available information about any publicly traded company is already reflected in its stock price. Let’s use Apple as an example. Every day, millions of shares, worth billions of dollars, change hands, each trade representing someone who thinks Apple is fairly priced, and someone else who disagrees. Crucially, both buyers and sellers have access to the same information. No one has a crystal ball; everyone’s predictions about future sales and profits are just that—educated guesses. Why Beating the Market Is So Hard In a 20-year analysis of actively managed mutual funds, those run by managers trying to beat the market through skillful stock picking. Of the 1,667 funds analyzed on January 1, 2004, just 48% were still around 20 years later (the rest closed or merged after poor performance). Of those survivors, only 16% managed to outperform the market—a sliver of winners, and no guarantee that their outperformance was due to skill rather than luck. Over longer periods, the odds get even worse. The market’s efficiency means that news, good or bad, gets priced in fast. By the time you read about a hot tip or see a magazine
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    21 mins
  • The Truth About Bitcoin, Gold, and Safe Investing Strategies, Ep #261

    The Truth About Bitcoin, Gold, and Safe Investing Strategies, Ep #261
    Jul 18 2025
    Bitcoin and gold are two assets often hailed as safe havens and reliable stores of value. I explore whether bitcoin and gold really deliver the security investors hope for, or if, instead, they’re more about speculation than true investment. I’m helping you to look at the hard data and science behind financial decisions. Whether you’re curious about market volatility or searching for a dependable way to safeguard your wealth, this episode is packed with practical insights about the pros and cons of investing in Bitcoin or gold. Outline of This Episode
    • [06:05] Bitcoin and gold are speculative, limited by supply and demand.
    • [09:29] Bitcoin is an unreliable store of value.
    • [13:57] Volatility and diversification in investing.
    • [16:58] Is gold really a safe haven for your money?
    • [20:18] Gold commercials push for sales due to high commissions, not safety.
    • [22:30] Investing relies on data and science to build successful portfolios, focusing on controlling taxes, expenses, and risk.

    Finding Safe Havens for Your Money What makes you feel secure? Fresh from a nine-night family trip to a volleyball tournament in Dallas, I’ve realised that my real safe haven isn’t a lockbox or a password, it’s my home and the daily routine I return to. More than that, his family represents his ultimate store of value, the core “asset” he’s committed to nurturing year after year. For me, investing is just one facet of a broader stewardship, protecting not only wealth but also the relationships and routines that bring lasting fulfillment. Bitcoin is a Volatile Gamble Clients often ask me, “Can Bitcoin act as a reliable store of value?” so I’ve dug into the numbers. Since 2010, the annualized volatility of Bitcoin has been a staggering 76.9%, nearly five times greater than the already-risky Russell 3000 index, which clocks in at 15.8%. Over the same period, Bitcoin has endured 27 separate 10% drops, 10 plunges of 30% or more, and five catastrophic 70% crashes. By contrast, the mainstream US stock market has only seen six 10% drops and a single 30% drawdown. Investing in bitcoin with this type of volatility is not a store of value. Investing in Bitcoin is speculation. The wild swings may excite thrill-seekers, but anyone seeking stability is likely to be disappointed. Gold as a Safe Haven What about gold, the classic safe-haven asset? Gold has enjoyed some positive years, up 60% of the time since 1970, but it's hardly a guarantee. That means in roughly four out of every ten years, gold investors have faced losses. Meanwhile, the S&P 500, ironically, the very market from which gold investors typically flee, has delivered positive returns 80% of those years. Plus, the marketing of gold is driven by high-commission sales tactics, not genuine concern for investor safety. Beware of those “buy gold now” ads; they exist to line the pockets of sellers, not to deliver real security to buyers. The Science of Investment Security Rather than...
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    25 mins
  • Common Retirement Myths You Shouldn’t Fall For, Ep #260

    Common Retirement Myths You Shouldn’t Fall For, Ep #260
    Jun 13 2025
    Let’s unpack six of the top retirement misconceptions, from whether it is okay to splurge in retirement, to the necessity of paying off your mortgage before you retire, and the real risks that retirees face beyond just a stock market crash. With a focus on helping family stewards make smart decisions for a secure financial future, I share practical advice, real-life scenarios, and encouragement to help you confidently prepare for and enjoy your retirement years. If you want to separate fact from fiction and build a retirement plan that truly fits your life and goals, then this episode is for you. Outline of This Episode
    • [04:45] Debunking common myths.
    • [09:43] Donate now for tax benefits and immediate impact.
    • [10:54] Spending in retirement is encouraged to enjoy life and create memories, rather than hoarding savings.
    • [17:34] Diversified portfolios mitigate financial risk during market downturns.
    • [20:12] Stay vigilant against fraud by protecting your personal information.

    How Rethinking Retirement Myths Can Help You Build Wealth, Live Generously, and Enjoy a Fulfilling Retirement Retirement is often framed as the finish line in your financial journey, but the path leading up to and through that milestone is cluttered with well-intentioned advice, social media sound bites, and downright misleading myths. As Scott Wellens, certified financial planner and host of the Best in Wealth podcast, points out in episode 260, it’s time for successful family stewards to challenge conventional wisdom and make decisions grounded in reality, not rumors. Let’s unpack and expand on six of the most common retirement myths, using Scott’s insights to guide your way toward a smarter, more satisfying retirement. Myth #1: “It’s Not Okay To Do a Big Splurge” Many savers believe that a single splurge in retirement, a long-awaited RV, a dream vacation, or a lavish family gathering, could derail their entire retirement plan. If you’ve saved diligently and want to use a portion for a one-time purchase, the impact on your annual withdrawal can be minimal. For those following the “4% rule," buying a $50,000 RV from a $3 million portfolio reduces sustainable annual withdrawals by only about $2,000, a small sacrifice for a lifelong dream. Retirement is about enjoying the fruits of your labor. With proper planning and a clear understanding of your cash flows, strategic splurges are not only possible but can enrich your retirement experience. Myth #2: “It’s Best to Leave Money to Charity After Death” It’s noble to want to support causes after you are gone, but waiting to give can rob you of witnessing the impact your generosity brings. Giving while alive has both tangible and intangible benefits: not only do you receive immediate tax deductions and may reduce potential estate taxes, but you also get a front-row seat to the good your money is doing. A thoughtful plan lets you balance living well and giving generously today, maximizing both legacy and personal fulfillment. Myth #3: “You Should Spend Less in...
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    24 mins
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