Simple Ways to Wealth with Hilary Hendershott

In this episode, Hilary Hendershott, founder of Hendershott Wealth Management, shared her expertise in helping women become financially empowered and grow their wealth. As a certified profit first professional, Hilary runs the Money Blueprint Program, which focuses on guiding individuals towards financial success.

Shannon beautifully compared a fiduciary fee-only advisor like Hilary to a health coach who tailors their advice to each individual's goals. They explored the struggles many women face due to their family background or past relationships when it comes to managing money. Hilary shared a powerful story about a woman who experienced financial abuse in a relationship, emphasizing the importance of taking control of one's finances.

One common issue among women is the lack of confidence and knowledge in managing money. Hilary became passionate about serving this market after her own financial challenges, recognizing the need for financial education. Shannon also shared her own perspective, highlighting her desire to contribute to retirement and build wealth.

Hilary stressed the significance of feeling financially compensated and valued, noting how this leads to better outcomes in business interactions. They also discussed the issue of overconfidence among entrepreneurs and the tendency to take unnecessary investment risks. Hilary advises entrepreneurs to take advantage of the expertise and research available regarding the stock market and to invest in more reliable and diversified options.

The conversation then shifted towards investment vehicles like ETFs, index funds, and the stock market, which Hilary and Shannon both agreed are essential for building sustainable wealth. It's important to remember that while volatility in the stock market can be disheartening, it remains an excellent passive income option.

During the episode, Hilary provided valuable insights into financial planning, including topics such as cash flow, insurance, taxes, estate planning, and retirement accounts. She stressed the importance of starting with the end in mind and planning for the future, even if it may be uncomfortable to think about negative events.

We encourage you to visit Hilary Hendershott's website, hendershotwealth.com, where she shares more valuable resources and hosts her own podcast, "Love Your Money." Additionally, Shannon is offering a free guide called "The Moneypro Matchmaker" to help you find the right accountant for your financial needs.

Lastly, we kindly ask you to support our podcast by leaving a rating and review on your favorite podcast platform. Your feedback and enthusiasm mean the world to us as we strive to provide high-quality content that empowers our listeners.

Hilary Hendershott is the founder of Hendershott Wealth Management, a leading financial advisory and profit consulting firm for women and couples. Hilary’s mission is to motivate women and their loved ones to be financially empowered, and to thrive. Her profit consulting programs have enabled business owners to finally take control of their money, learn healthy financial habits, and grow their individual wealth by millions of dollars.

Hilary is the host of Love, your Money (formerly Profit Boss® Radio), a weekly financial podcast where she and her guests offer inspiration and actionable advice. She’s also a TEDx speaker, and has been featured in the Wall Street Journal, NBC, ABC, FOX, DailyWorth, Forbes, and Investopedia.

Hilary was recognized as a Top 40 Under 40 Entrepreneur in Silicon Valley and Investopedia named her one of the Top 100 Most Influential Advisors in the US for the past 6 years including 2023. Hilary has an MBA from Santa Clara University, and is a CERTIFIED FINANCIAL PLANNER™ professional.

Instagram: https://www.instagram.com/hilary.hendershott/

Facebook: https://www.facebook.com/hilaryhendershott/

LinkedIn: https://www.linkedin.com/in/hilarythecfp

Website: https://hendershottwealth.com

What you'll hear in this episode:
[03:11] Financial advisors should only be paid by clients, ensuring impartiality and prioritizing client interests.
[07:20] Debt, foreclosure, and poor financial choices.
[12:49] Meeting women where they're at financially.
[16:28] Guide, assist, ask questions, achieve goals, retirement
[22:14] Business owners sometimes forget to plan properly. Depending on the type of business, the exit strategy can vary.
[28:24] Guilt about keeping money, considering other options.
[35:50] Balance, risk, wealth: basics supported by intelligence.
[38:58] Key to building sustainable wealth: focus, proven strategies, exit plan

If you like this episode, check out:

How to Pour Money Into Your Business

How to Build a Sellable Business with Arthur Petropoulos

Build Systems to Build Wealth with Justin Green

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.