Change is inevitable. It happens, and there is not much that can be done to steer the direction it will take. Change is hard, and many people resist it. But change is an opportunity, and those who accept it, learn from it, and move with it can take advantage in ways that were never available before.

In this episode of Compounding Change, host Shannon Davis welcomes back Leadership coach Jenna Stoliker. Together, they discuss the challenges and resistance faced by individuals, particularly first responders, when it comes to financial change.

They explore the psychological aspects of why people resist change, the importance of mindset shifts, and how to reframe financial decisions as opportunities rather than threats. The conversation emphasizes the need for alignment with financial advisors and the value of community support in navigating financial uncertainties.

Takeaways

-Resistance to change is a common human experience.

-Predictability is crucial in high-stakes environments like firefighting.

-Uncertainty triggers resistance in financial decision-making.

-Asking for help can be met with internal resistance.

-Mindset shifts are essential for navigating financial changes.

-Reframing change as an opportunity can reduce fear.

-Surrounding yourself with supportive people is vital.

-Alignment with financial advisors is key to effective planning.

-Small consistent actions lead to significant results.

-Continuous learning is necessary for effective financial guidance.

Chapters

00:56 Introduction

02:16 Frustrations with Financial Planning Changes

10:55 Step by Step Process

15:55 Resistance to Change

19:14 The Right People On Your Team

23:41 Conclusion and Contact Information

Helpful Links:

Jenna Stoliker: https://jennastoliker.com/

Shannon Davis: https://www.daviscompoundingchange.com/

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions.

Securities offered through Cambridge Investment Research, Inc., a registered

Broker/Dealer, Member FINRA/SIPC.

Investment Advisory Services are offered through Retirement Plan Advisors, LLC, a Federally Registered Investment Adviser. Cambridge Investment Research and Retirement Planning Advisors are not related to DavisCompoundingChange.com or this podcast.

Please note that investment involves risk, and no statements made in this recording are indicative of future performance.

The Compounding Change Podcast is brought to you by Shannon Davis

Being a firefighter takes a toll on more than just your health, which is significant for anyone who has seen a firefighter do their thing. It also affects your mental health, and it affects your family relationships. We always expect firefighters to take care of us. Who is taking care of them?

In this episode of Compounding Change, host Shannon Davis speaks with Jim Burneka, a retired firefighter and author of 'Overcoming Tuesday.' They discuss Jim's journey through the challenges of firefighting, including personal trauma, health risks, and the importance of resilience and wellness.

Jim shares insights on navigating career transitions, planning for retirement, and the dynamics within the firefighting community. The conversation emphasizes the need for awareness around mental health and the impact of personal experiences on professional life, and how professional experiences absolutely impact the personal life, especially as a firefighter.

Helpful Links:

Jim Burneka: jimburnekajr@gmail.com

Overcoming Tuesday Book: https://www.amazon.com/Overcoming-Tuesday-Responders-Healing-Resiliency/dp/B0CYMZ228H

Shannon Davis: https://www.daviscompoundingchange.com/

Takeaways

-Firefighting presents unique challenges that can lead to personal struggles.

-Health risks, including cancer, are significant concerns for firefighters.

-Wellness initiatives are crucial for supporting firefighters' mental health.

-Planning for retirement is essential, especially in high-risk careers.

-Navigating career transitions can be challenging but rewarding.

-Community support is vital in the firefighting profession.

-Vulnerability can enhance the ability to help others.

-Personal experiences shape professional perspectives and actions. Divorce rates are high -among firefighters due to job stress.

-Communication with partners is crucial for relationship health.

-Radical acceptance can lead to positive life changes.

-Being present for family is a valuable outcome of retirement

Chapters

00:56 Introduction to Compounding Change Podcast

02:37 Impact of Firefighting and Writing the Book

07:37 Hard Reality of Being a Firefighter

15:50 Advocating for Health and Wellness for Firefighters

37:17 Life After Firefighting

40:38 Relevant Podcasts

47:07 Jim Burneka Contact info and Conclusion

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Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions.

Securities offered through Cambridge Investment Research, Inc., a registered

Broker/Dealer, Member FINRA/SIPC.

Investment Advisory Services are offered through Retirement Plan Advisors, LLC, a Federally Registered Investment Adviser. Cambridge Investment Research and Retirement Planning Advisors are not related to DavisCompoundingChange.com or this podcast.

Please note that investment involves risk, and no statements made in this recording are indicative of future performance.

The Compounding Change Podcast is brought to you by Shannon Davis

Financial planning isn’t just about numbers. It’s about people. And when those people are first responders, well the job of a financial planner just got that much more critical. When you know who you are planning for, what matters to them, and why, then you can really make an impact with a strong financial plan. It matters, because the people we count on in moments of crisis, are counting on us.

In this episode of Compounding Change, host Shannon Davis engages with financial advisors Ed Kindler and Phil Holstrom of Retirement Plan Advisors to discuss their experiences working with firefighters and police officers. They explore the unique challenges these professionals face, the importance of understanding their roles, and the significance of retirement planning for these unique individuals who give so much of their lives toward our safety.

Helpful Links:

Ed Kindler, Retirement Plan Advisors: https://retirementplanadvisors.com/meet-our-team/edward-kindler/

Phil Holstrum, Retirement Plan Advisors: https://retirementplanadvisors.com/meet-our-team/phil-holstrom/

Shannon Davis: https://www.daviscompoundingchange.com/

Takeaways

-The role of financial advisors extends beyond just retirement plans.

-Understanding the unique challenges faced by firefighters is crucial.

-Firefighters contribute significantly to their retirement savings.

-Building trust with clients is essential for effective financial advising.

-Financial education is lacking in many communities.

-Small increases in contributions can lead to substantial retirement savings.

-It’s important to review and update financial plans regularly.

-Firefighters often face intense situations that impact their financial decisions.

-The importance of being proactive in financial planning cannot be overstated.

-Advisors should focus on providing unbiased financial advice. Accessibility is crucial for clients, especially firefighters.

-Social security planning requires personalized attention and education.

Chapters

00:58 Introduction to Compounding Change Podcast

03:28 Understanding the Role of Financial Advisors for Firefighters

06:47 Insights from Fire Ops Training

12:01 Core Messages for Firefighters

18:29 Building Trust with Firefighters

25:55 The Importance of Social Security Planning

29:46 Timing Social Security Benefits

31:44 The Risks of Financial Rollovers

36:35 The Role of Financial Advisors

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Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions.

Securities offered through Cambridge Investment Research, Inc., a registered

Broker/Dealer, Member FINRA/SIPC.

Investment Advisory Services are offered through Retirement Plan Advisors, LLC, a Federally Registered Investment Adviser. Cambridge Investment Research and Retirement Planning Advisors are not related to DavisCompoundingChange.com or this podcast.

Please note that investment involves risk, and no statements made in this recording are indicative of future performance.

The Compounding Change Podcast is brought to you by