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.

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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.