Category: Investing

Race Horsing Trainer Jason Olmstead
From Jockey to Top Trainer: Jason Olmstead’s Winning Formula (EP. 70)

From Jockey to Top Trainer: Jason Olmstead’s Winning Formula (EP. 70)

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In this exciting 70th episode of Harnessing Your Wealth, host Billy Peterson interviews Jason Olmstead, a prominent horse trainer. Jason Olmstead grew up surrounded by horse racing, with his grandparents training racehorses. His family’s roots in the industry laid the foundation for his future career. “I fell in love with it from day one,” Jason recalls, reflecting on his childhood. Jason shares insights on training philosophies, the significance of soundness in horses, and the loyalty of quarter horse owners. Jason’s training career has been marked by impressive achievements. His ability to maintain long-term relationships with clients has been a key factor in his success. “What I’m most proud of is we still train for a lot of the same people that we originally trained for that gave us our first chances,” he shares. This loyalty and dedication to his clients and their horses have fostered a supportive community around his training stable.

Takeaways

  • Harnessing Your Wealth is about more than just money.
  • Jason Olmsted’s journey in horse racing began with his grandparents.
  • The importance of family support in a racing career.
  • Quarter horses often have more loyal owners than thoroughbreds.
  • Building relationships with riders is key to a successful stable.
  • Learning from mistakes is part of the training process.
  • Fear of failure can drive success in competitive environments.
  • The next generation of riders is essential for the future of racing.

About our Guest:

After a successful career as a jockey, Jason transitioned to training, a move that seemed almost inevitable. Jason Olmstead and his wife Amber own Circle JA Racing Ranch in Pryor, Okla. He had the most Quarter Horse wins of any trainer here in 2023. Jason grew up in horse racing. His grandfather was a trainer and all he ever wanted to do was be a jockey. He has the honor of winning the AQHA Racing’s 2021 Blane Schvaneveldt Champion Trainer award. Jason and Amber Olmstead are among the Class of 2022 inductees into the Canterbury Park Hall of Fame.

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Money Moves For The End of The Year
The Year-End Money Moves Everyone Ignores (Until It’s Too Late) (EP. 69)

The Year-End Money Moves Everyone Ignores (Until It’s Too Late) (EP. 69)

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Billy and Shaun dive deep into the smartest financial moves to make before the year wraps up—because what you do in these final weeks can seriously impact your taxes, savings, and long-term financial trajectory. In this episode, they break down practical year-end strategies you can actually use: tax planning that keeps more money in your pocket, holiday spending frameworks that prevent budget blowouts, insurance and estate reviews that protect what you’ve built, and goal-setting tactics that set you up for a stronger, more focused year ahead. If you’re ready to take control of your money, avoid avoidable mistakes, and end the year with clarity and confidence, this is the ultimate financial checklist you don’t want to miss.

Key Takeaways:

  • Max out 401(k) contributions while there’s still time.
  • Use tax-loss harvesting to offset capital gains.
  • Leverage charitable giving strategies for extra tax benefits.
  • Protect your holiday budget—spend with intention, not emotion.
  • Audit your top 5 expenses to uncover easy savings.
  • Review and update insurance policies to ensure proper coverage.

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Integrated Tax Podcast
Don’t Miss These Money-Saving Tax Changes (EP 65)

Don’t Miss These Money-Saving Tax Changes (EP 65)

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In this conversation, tax expert Jake Johnstun discusses the latest tax legislation, focusing on new deductions available for businesses, the introduction of Trump accounts for children, and changes in clean energy incentives. The discussion also covers SALT deductions, standard and child tax credits, and the implications of officer compensation audits by the IRS. Additionally, Johnstun highlights estate tax exemptions and everyday tax strategies for individuals and businesses, while also addressing trends in client demographics and advanced tax strategies.

Takeaways

  • The new tax laws provide significant deductions for businesses, especially in depreciation.
  • Trump accounts allow for tax-advantaged savings for children under 18.
  • Clean energy incentives are changing, with some benefits expiring soon.
  • SALT deductions have increased, but many will still be affected by limitations.
  • Standard deductions have been adjusted for inflation, benefiting taxpayers.
  • Child tax credits have seen slight increases, aiding families.
  • Small businesses can benefit from the QBI deduction, which is 20% of net income.
  • IRS audits are increasingly focusing on officer compensation and 1099 compliance.
  • Estate tax exemptions have increased significantly, allowing more wealth to be passed on tax-free.
  • Investing in qualified accounts like Roth IRAs can provide long-term tax benefits.

About our Guest: 

Jake Johnstun, EA has been in the tax preparation industry since 1994. An Enrolled Agent is a federally authorized tax practitioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of examination, collection, and appeals of the Internal Revenue Service. In addition to taxpayer representation, Enrolled Agents often provide tax consultation services and prepare a wide range of federal and state tax returns.

Jake is the president and founder of Integrated Tax, founded in 2002 located in Ogden, Utah. He is a Partner and owner of Elite 1031 Exchange, a Qualified Intermediary. He is an Alumnus of Weber State University with a Bachelor of Science degree in Accounting. He is an NTPI Fellow and a graduate of the SSLA Leadership Academy.

Jake was voted onto the National Association of Enrolled Agent’s Board of Directors in December 2017. He is the current Chair of the NAEA PAC representing tax professionals before the United States Congress. He is also the current Chair of the GOAL Foundation.

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Bulletproof Wealth: How to Secure What You’ve Built
Bulletproof Wealth: How to Secure What You’ve Built (EP. 63)

Bulletproof Wealth: How to Secure What You’ve Built (EP. 63)

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In this episode of Harnessing Your Wealth, we discuss the importance of protecting wealth, especially in blended families, and the role of trusts in safeguarding assets for future generations. Billy, Shaun and Cade open conversations about inheritance and financial planning to prevent conflicts among family members. The discussion also highlights the significance of having a solid financial plan to ensure long-term success and stability.

Takeaways

  • Prenuptial agreements are essential for protecting assets in blended families.
  • QTIP trusts can help safeguard children’s inheritance in blended families.
  • Trustees should be chosen carefully to avoid family conflicts after death.
  • Estate planning is especially important for blended families to consider all parties involved.
  • Teaching children the value of money can prevent them from squandering their inheritance.
  • Having a financial plan helps individuals understand their goals and resources.
  • Open discussions about wealth can strengthen family relationships.

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Billy Peterson Harnessing Your Wealth
Chapter 10: A Time to Sell – Is this one of those times? (EP 53)

Chapter 10: A Time to Sell – Is this one of those times? (EP 53)

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In this episode, Billy takes the hot seat as his son Cade interviews him about key concepts from his book, focusing on market volatility, goal funding in retirement, emotional investing, tax strategies, and performance-based selling. The conversation emphasizes the importance of understanding market dynamics and making informed decisions rather than reacting emotionally to market fluctuations. In this conversation, the speakers discuss the implications of wealth loss, government accountability, and the importance of long-term investing strategies. They emphasize the need for taxpayers to be aware of government actions and the impact of economic decisions on personal finances. The discussion also highlights Warren Buffett’s investment strategies and the significance of patience in investing, particularly during market downturns.

Takeaways

  • Market volatility can create both opportunities and challenges for investors.
  • Rebalancing is essential to maintain your original investment allocation.
  • Goal funding is crucial for retirement planning and should be approached strategically.
  • Capitulation often leads to poor investment decisions driven by fear and greed.

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Zoe Cadman Former Jockey and Current TV Analyst
From Jockey to Media Star: Zoe Cadman’s Journey (Ep. 52)

From Jockey to Media Star: Zoe Cadman’s Journey (Ep. 52)

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Billy Peterson, Cade Peterson and Zoe Cadman discuss Zoe’s Journey into broadcasting and the role of media in horse racing. Check out this episode as they discuss the art of selecting racehorses, the value of underdogs, and the emerging talent among jockeys. The discussion also touches on the challenges facing horse racing today and the journey of retired racehorses, highlighting personal connections and experiences in the equestrian world.

They discuss:

  • Zoe Cadman transition from a jockey to a media role.
  • Engaging events are crucial to attract younger fans to racing.
  • Safety measures in racing have improved with HISA.
  • And more

About Zoe Cadman

Zoe Cadman is host and analyst for XBTV, Santa Anita Park and 1/ST Racing. Born in South Africa and raised in England, Zoe came to America and worked for trainers Michael Dickinson, Christopher Speckert and Mike Stidham prior to taking out her jockey’s license in 2000. She became the first female rider in Chicago history to win a meet riding title when she won the spring 2001 Hawthorne title. In 2008, Zoe relocated to Santa Anita to work with HRTV until 2015, when she began her current broadcast role with XBTV, Santa Anita Park and 1/ST Racing.

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Santa Anita Park 

Connect with Zoe Cadman
• Instagram: ZoeCadman_
• 1/ST Things 1/ST, Presented by Santa Anita

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Grit, Resilience and Unity that Define a Utah Mountain Town with Mayor Ben Nadolski (EP 51)

Grit, Resilience and Unity that Define a Utah Mountain Town with Mayor Ben Nadolski (EP 51)

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In this episode, Billy Petersen interviews Ben Nadolski, the Mayor of Ogden, Utah. They discuss Ben’s unique journey from a career in wildlife management to politics, the challenges of public scrutiny, and the importance of mental toughness and resilience in leadership. Ben shares insights on the human side of leadership, the significance of hard work, and the impact of surrounding oneself with the right people. The conversation also touches on Ben’s day-to-day responsibilities as mayor and the current projects he is focused on. In this conversation, they discusses the importance of collaboration in leadership, emphasizing the need for all departments to work together to achieve common goals. The mayor talks about the ‘Ogden Way,’ which focuses on community accountability and the role of government in supporting citizens without overstepping.

Billy, Shaun and Ben discuss

  • Ben Nadolski transitioned from wildlife management to becoming the Mayor of Ogden.
  • Ben emphasizes the value of critical thinking over party lines.
  • Surrounding yourself with supportive people is crucial for success.
  • Local politics focus on community impact rather than national issues.
  • Energy and mindset significantly affect leadership effectiveness.
  • And more

About Our Guest: 

Mayor Nadolski took office on January 2, 2024, bringing with him a breadth and depth of experience to the office, including two terms on the Ogden City Council, and a 23-year career with the Utah Division of Wildlife Resources (DWR). Nadolski was instrumental in the inception and implementation of the Ogden River Restoration Project; a $6-million project in Ogden, Utah, that transformed a blighted and polluted river into a Blue Ribbon Fishery that paved the way for a surge in recreational use and community and economic development for Ogden City.

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Harnessing Your Wealth
Navigating the Complexities of Divorce (EP 48)

Navigating the Complexities of Divorce (EP 48)

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Billy Peterson, Shaun Peterson and Noni Ferguson discuss the complexities of divorce, including common approaches, the importance of mediation, and strategies for high-net-worth clients. Noni shares her background in family law and emphasizes the need for trust and communication between spouses during the divorce process. They explore the impact of social media, the role of professionals, and the common mistakes people make when navigating divorce. Noni provides valuable advice for those facing divorce, highlighting the importance of documentation and the need to prioritize children’s well-being. The discussion concludes with insights into the trends in divorce filings, particularly in January, and the importance of seeking professional help.

Critical takeaways include:

  • Divorce is a complex and emotional process that requires careful navigation.
  • Mediation is often the best approach to achieving a fair resolution.
  • Listening to clients’ stories is crucial for understanding their needs.
  • Trust and communication between spouses are essential for an uncontested divorce.
  • Involving children in divorce discussions can have lasting negative effects.
  • Knowledge about financial portfolios is empowering for clients.
  • Documentation and organization can significantly ease the divorce process.
  • Collaborative divorce can lead to better outcomes when trust exists.
  • Social media can complicate divorce proceedings and should be managed carefully.
  • January is a common month for divorce filings, often due to post-holiday reflections.

Resources:

Nonie Ferguson

Law Elevated: https://law-elevated.com/nonie-ferguson/

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Navigating the Economic Landscape of 2025 (EP 47)

Navigating the Economic Landscape of 2025 (EP 47)

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In this episode, Billy and Shaun discuss the economic outlook for 2025, focusing on potential slowdowns, the role of the Federal Reserve, market volatility, and the impact of political policies under the Trump administration. They analyze the current economic indicators, including inflation, consumer spending, and the national debt, while emphasizing the importance of financial literacy and investment strategies for navigating the changing economic landscape.

Takeaways

  • Expect a slowdown in the economy in 2025.
  • The Federal Reserve’s actions will significantly impact on the markets.
  • Market volatility is anticipated, with more corrections expected.
  • The national debt is a growing concern with no clear solution.
  • Consumer spending is showing signs of decline, indicating economic stress.
  • The wealth gap is widening, creating two separate economies.
  • Interest rates and inflation are closely linked to the money supply.
  • Political changes under the Trump administration may influence economic policies.
  • Financial literacy is crucial for future generations.
  • Investors should remain diversified and prepared for market fluctuations.

Chapters

00:00 Economic Outlook for 2025

10:39 The Role of the Federal Reserve

20:56 Market Volatility and Investment Strategies

26:46 Political Landscape and Economic Policies

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Real Stories of Fraud and Embezzlement – Part 2 (Ep. 46)

Real Stories of Fraud and Embezzlement – Part 2 (Ep. 46)

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Fraudsters stole a staggering $10 billion in 2023. Even more shocking? Over 2.4 million reports of fraudulent activity flooded the FBI Complaints Center.

In Part 2 of this series, Billy and Shaun dive deeper into these alarming schemes, with a focus on scams targeting the elderly. Discover how fraudsters meticulously research their victims and employ manipulative tactics to execute their schemes. Billy and Shaun unpack the most common scams, reveal their inner workings, and share actionable tips to help you recognize red flags and stay one step ahead. 

Arm yourself with the knowledge to stay safe as this episode covers:

  • Common scams and their most frequent targets
  • The shocking $10 billion lost to scams in 2023
  • Heartbreaking stories, including the infamous “grandparent scam”
  • How scammers exploit personal details obtained from your social media
  • Identifying fake tech support, government imposters, and phishing emails
  • Practical tips to safeguard yourself and stay alert
  • And more

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