• Face The Fear

    Welcome!

    Welcome to Face the Fear!

    We are Nicole Ellsworth and Kaitlyn Duchien, two motivated millennials on a journey to face the fear of our financial future.

    We created this safe space where we will dive into topics like retirement, budgeting, student loans, investing, insurance, financial terms, etc. We are passionate about educating ourselves and others in the process. Join us as we change the conversation around finances and approach our future with confidence.

    If you like us, follow us here, Facebook, Twitter, Instagram and subscribe to our podcast: Face the Fear. (Social media links are on the top right of this page.)

    *Disclaimer: We are not here to give legal financial advice. We highly encourage you to bring the topics we discuss to a financial professional, who is qualified to address your specific financial goals.*

    It’s time for some real talk, and we are so excited that you are here to join us!

    Until next time – Face the Fear!

    Nicole and Kaitlyn

  • Podcast

    Face The Fear Podcast – Overcoming Money Limitations with Elyse Archer

    Are you feeling stuck financially? Are you overwhelmed and burned out, yet don’t seem to be making any progress in your career? Are you ready to overcome your limiting beliefs and achieve your greatest desires? Then, this episode is for you!

    In this episode, we are joined by Elyse Archer, the founder of She Sells, a coaching program and community for women in sales who are breaking through six figures and revolutionizing the way sales is done. Elyse provides fascinating insights into topics like:

    • What are the most common money myths or limitations that you hear from women you work with? How can we overcome them?
    • How can women sell in a way that feels authentic to them?
    • What is the She Sells Method and the $10k Club?
    • How can I stand out and best market myself on LinkedIn?
    • What are a few ways we can begin to overcome our self-defeating tendencies and leverage our personal power today? 
    She Sells Radio

    Learn more about Elyse at www.ElyseArcher.com 

    Face The Fear:

    P.S. Kaitlyn Duchien is a registered representative of First Palladium, LLC, Member FINRA and a wholly-owned subsidiary of Ash Brokerage, LLC. Supervising office located at 888 S. Harrison Street, Suite 900, Fort Wayne, IN 46802. 800-589-3000. Content provided is for informational use only and is not to be constituted as financial advice.

  • Podcast

    Face The Fear Podcast – Disability Insurance with Meghan Cormany

    Welcome Back to Face The Fear Podcast: Season 2! We have missed you!

    In this episode, we are joined by Meghan Cormany, a Disability Insurance (DI) Sales Development Specialist at Ash Brokerage (and just a fabulous human being overall). Meghan builds on our previous DI podcast with Tim Kukieza by answering questions such as:

    • Why should a Millennial consider having Disability Insurance (DI)? When is the best time to purchase coverage?
    • How can someone choose the right DI coverage for them?
    • Are there certain occupations that claim DI benefits more than others?
    • Does DI cover loss of work due to depression, stress, or other mental health issues?
    • If I pay for DI and never claim benefits, do I lose all of the premiums I paid? (The answer may surprise you!)

    Questions? Email us at facethefearfw@gmail.com!

    Meghan Cormany: LinkedIn

    Face The Fear:

    P.S. Kaitlyn Duchien is a registered representative of First Palladium, LLC, Member FINRA and a wholly-owned subsidiary of Ash Brokerage, LLC. Supervising office located at 888 S. Harrison Street, Suite 900, Fort Wayne, IN 46802. 800-589-3000. Content provided is for informational use only and is not to be constituted as financial advice.

  • The Market: 101

    Is the Stock Market Too Accessible?

    Written by: Nick Shoemaker

    It is now easier than ever for the individual to start actively investing in the stock market. Apps such as Acorns and Robinhood have made the process significantly easier and quicker than ever. The account minimums for these investment apps are either next to nothing ($5 for Acorns), or actually nothing in Robinhood’s case. This means that a high school senior with a minimum wage job and a smartphone has the power to start growing their money, and does not need to get a financial advisor involved. The new wave of investors that these apps have recruited has led to major changes in people’s account balances, both drastically positive and negative.

    There are entire online communities, such as subreddit r/wallstreetbets, that are dedicated to posting both success and horror stories of individual’s risky investment positions. These often young investors either win big, win big and then lose all their gains by reinvesting into equally risky investments, or lose everything entirely. Due to this, there have been calls for more regulation for apps such as Robinhood. However, is this the only solution?

    More regulation on investing apps means the less opportunity for people with lower income to grow their wealth through the stock market, which does not benefit anybody. Taking away accessibility is not the only option to protect people.

    The best way to protect new investors is through education. Many young people are seeking financial education, but are finding they are not learning these skills in their traditional schooling. Teaching the basics of finance, including the stock market, in the American education system will not only prevent the short-term losses we are seeing currently, but create a financially savvy person throughout all of life.

    Though a lot of responsibility of education should be within the school system, investment apps targeted at people with lower income can and should do more to educate within their own apps. Financial education content within the app itself would further improve financial literacy within the younger demographic.

    Regulating investing apps to provide less investing options and increase account minimums does nothing but gatekeep the stock market from lower income individuals. Providing more financial education will give more people the tools they need to become financially sound.

    Nick Shoemaker is a registered representative of and securities offered through First Palladium, LLC, Member FINRA and a wholly-owned subsidiary of Ash Brokerage, LLC. Supervising office located at 888 S. Harrison Street, Suite 900, Fort Wayne, IN 46802. 800-589-3000.

    Sources: https://www.nerdwallet.com/reviews/investing/advisors/acorns#:~:text=Minimum%20investment%3A%20There’s%20no%20minimum,Acorn’s%20five%20pre%2Dbuilt%20portfolios.

    https://www.nerdwallet.com/reviews/investing/brokers/robinhood#:~:text=Account%20minimum%3A%20Robinhood%20doesn’t,to%20open%20a%20margin%20account.

    https://www.iflr.com/article/b1nfdm47g0ygd5/opinion-robinhood-needs-more-regulatory-oversight

    https://www.schwabmoneywise.com/public/moneywise/tools_resources/young_adults_money_survey

  • Podcast

    Face The Fear Podcast – Estate Planning with Kelly Dancy

    In this episode, we are joined by Kelly Dancy, an Estate Planning Attorney with Walny Legal Group in Milwaukee, WI. Kelly breaks down the importance of Estate Planning and busts several common myths, like “I only need to have an estate plan if I’m old and have a lot of money.” (SPOILER ALERT: that is FALSE!)

    We also cover:

    What happens if someone dies without an estate plan?

    How are estate plans created?

    Other than a will, what are a few other important documents for estate planning

    How should Millennials start a conversation with their parents/grandparents about creating or revisiting their estate plan?

    Questions? Email us at facethefearfw@gmail.com!

    Kelly Dancy:

    Website: https://walnylegal.com/

    LinkedIn: https://www.linkedin.com/in/kelly-dancy-30016214/

  • Podcast

    Face The Fear Podcast – Entrepreneurship with Tim Ash, CEO of Ash Brokerage!

    Photo Cred: @ashbrokerage on Instagram

    Face The Fear Podcast is BACK & better than ever! In this episode, we’re joined by fearless leader & entrepreneur Tim Ash, CEO of Ash Brokerage. Grab some coffee and listen in as we discuss what leads to success, how to stay inspired, and when it’s time to step outside your comfort zone. Prepare to be encouraged, motivated, and empowered to overcome whatever is holding you back!

    Questions? Email us at facethefearfw@gmail.com!

    Face The Fear: 

  • The Market: 101

    Bull & Bear Markets: A Timeline

    Infographic By: David HesselFiduciary Financial Advisor in Brookfield Wisconsin

    On March 11, 2020, the Dow Jones Industrial Average (DJIA) officially entered a bear market. This drop brought the all-time high of 30,000 to 19,000 in a matter of weeks amidst the COVID-19 global pandemic. As we face an uncertain road ahead, let’s take a look back at history’s most recent bull and bear markets, as outlined by the S&P 500.

    Bear Market: Marked by a 20% (or more) drop in securities prices from the most recent high, resulting in investor distrust & a downward trend in value.

    Bull Market: An extended period in time in which stocks & other traded commodities continuously rise in value.

    Looking for guidance on how to be financially stress-free? Schedule a 30-Minute Phone Call with David HesselFiduciary Financial Advisor in Brookfield Wisconsinhere or send him an email at dhessel@gvcaponline.com.

    You can find the original post here.

    GVCM is an SEC Registered Investment Advisory firm, headquartered at N14W23833 Stone Ridge Drive, Suite 350, Waukesha, WI 53188. PH: 262.650.1030. David Hessel is an Investment Adviser Representative (“Adviser”) with GVCM. Additional information can be found at: https://www.adviserinfo.sec.gov/IAPD/Global View Capital Insurance, LTD. (GVCI) insurance services offered through ASH Brokerage and PKS Financial. David Hessel is an Insurance Agent of GVCI. Global View Capital Advisors, LTD is an affiliate of Global View Capital Management, LTD (GVCM). This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

  • Podcast,  Student Loans

    Let’s talk STUDENT LOANS with David Hessel, CSLP (Certified Student Loan Professional)!

    You’ve asked & we (finally) answered – let’s tackle student loans!

    According to the U.S. Department of Education, outstanding Student Loan Debt has now reached a staggering 1.56 TRILLION in 2020. Over 44 million Americans have outstanding student loans and the average debt per individual is $32,731 – WOAH!

    It’s time for us to Face The Fear of Student Loans – understand what they are, how they work, and find the best way to pay them off!

    Here’s a bigger view of David’s White Board

    To learn more about David Hessel, click here: www.davidhessel.com

    To get the details on student loan planning, click here: www.studentloanprofessional.com

    To get in touch with Face The Fear, email: facethefearfw@gmail.com

    Here is a summarized list of Q&As:

    1. “Do you need to be of a certain profession or in a certain field to utilize the extended or graduated programs while in the overall 10-year repayment plan?” Nope! Everyone with federal student loans has access to these, but there are many things to consider before jumping into one.

    2. “When does it make sense to put my student loans in deferment?” If you need to stop your payments, you do need to apply and be accepted for this. This is because interest will not accrue during this time period. You might do this if you become unemployed, if you have economic or medical hardship, etc. Interest will not accrue while in deferment

    3. “When does it make sense to put my student loans in forbearance?” You have a total of 3 years to be in forbearance. Remember, interest continues to accrue while you are not making payments. So really, this tends to make sense when you need a very short-term payment relief.

    4. “Can I use forbearance or deferment if I have private loans?” The unfortunate answer is no. You can speak with your lender and try to change the terms of your loan but the options available for federal loans are not available for private loans.

    5. “Can I spread the ‘tax hit’ when student loans are forgiven over time or is it all taxed as income in one year?” The short answer is that it is taxed in one year. However, when working with a CPA, depending on your situation, there are ways to strategize the taxation. When working with my clients, we calculate the anticipated tax amount and immediately set up a savings/investment bucket for those dollars over the course of their student loan repayment plan.

    6. “Can I be 3, 4, even 5 years into paying my student loans and still switch to a repayment plan?” Yes, you can do this at any time! It is a voluntary program, so you must reapply / show income every single year. If you do not reapply you will be automatically switched back to the 10-year plan. For my clients, we just set reminders every year, so we never forget. Thankfully, the Government has worked on their online submission process and applying is getting easier and easier.

    7. “For PSLF, do I need a specific type of qualified loan?” In short, to apply for PSLF you need 3 things: 1. You need to work for a qualified employer full time (talk with your HR rep or visit https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service#qualifying-employment) 2. You need to make 120 qualified payments (10 total years of payments) 3. Your loans need to be DIRECT loans. (These started after the year 2010, so anyone with loans prior to 2010 will usually need to do a direct consolidation)

    8. “If I have worked for a qualified employer while working towards PSLF and then switch to another employer that is not qualified, is there any sort of partial forgiveness of loans?” Unfortunately, the answer is no.

    9. “What has changed for my student loans with the CARES Act?” Start listening at 48:18

    Lastly, here’s a disclaimer: GVCM is an SEC Registered Investment Advisory firm, headquartered at N14W23833 Stone Ridge Drive, Suite 350, Waukesha, WI 53188. PH: 262.650.1030. David Hessel is an Investment Adviser Representative (“Adviser”) with GVCM. Additional information can be found at: https://www.adviserinfo.sec.gov/IAPD/Global View Capital Insurance, LTD. (GVCI) insurance services offered through ASH Brokerage and PKS Financial. David Hessel is an Insurance Agent of GVCI. Global View Capital Advisors, LTD is an affiliate of Global View Capital Management, LTD (GVCM).

  • Real Estate

    One Thing That Will Put You Ahead When it Comes to Buying A Home

    Written By: Aubree DeVisser

    I’m sure you have heard from one person or another who is on the hunt for a home that it hasn’t exactly been easy. So, why not do everything you can to set yourself up for a smooth and successful home-buying process?

    Here is one thing you can do to gain a competitive advantage, accelerate the process, and know how much you can afford.

    GET PRE -APPROVED

    Going to an agent and choosing a lender is your first step. Receiving that pre-approval letter really should be the key you want to have in your pocket for when that dream home becomes available.

    What exactly is a preapproval? It’s when you gather information such as your job status, income, credit score, etc. and the lender uses that information to give you a number that represents the amount you can afford to borrow for a home. (You can do this all from your phone if you prefer it that way, email me to get the link to the app!)

    So, why does this help you? As I stated before, there are three main reasons.

    1.) You gain a competitive advantage.

    Who doesn’t want that? Especially now when bidding wars and multiple offers are something most buyers will have to deal with, you want to have every advantage you can get. A preapproval letter from your lender says your serious. It says I’m all in. I want this and I’m ready to prove that. Not to mention it shows the sellers that you actually have the funds ready to go if the offer was accepted and that’s obviously important and reassuring to them.

    2.) Move forward, faster

    Think about it this way. You write an offer in a multiple offer situation and the sellers need to close ASAP. If they see that you’re preapproved and have done all that work ahead of time, that’s time saved and you’re ahead of anyone else who hasn’t done that yet. Then, as soon as that offer is accepted you’re ready to move on to all the other details.

    3.) Dream home without the dream loan

    This one is really important for you and whomever you’re buying a home with. You need to get preapproved so you know what you can afford. Let me tell you a quick story. A couple goes to look at a home. Falls in LOVE with it. Wants to put in an offer. (Most people won’t even accept offers without a preapproval letter) Let’s just say they accept it. They go to a lender. Their loan amount is $20,000 less than the home price. UH OH. NOW, WHAT.

    Their dreams are shattered. They can’t buy the home. Everyone is frustrated. The home-buying process is probably ruined for them. They realize their dream home is way out of budget right now and that’s DEVASTATING.

    So, if you take anything away from this reason, take this:

    Know what you can afford. Don’t break your own heart. Make it easier on yourself, and everyone else, and get preapproved before actively going out to look at homes.Then you can work on a budget and accurately see and know what you can borrow and what you can afford. (Need help planning and saving and want some guidance? We can help!)

    I hope this was helpful and if you’re ready to start looking, or are already looking, that you consider these three reasons to put you ahead in that home-buying process!

    Are you a first time home buyer and want to be part of a community of other first-timers with some helpful tips and tricks? Check this group out!

    Have questions about buying your first home? Contact Aubree DeVisser here!


  • Budgeting,  Insurance

    5 Ways To Face Your Finances At Home (and Reward Yourself, Too!)

    Written By: Kaitlyn Duchien

                It’s day #423 (or something like that) in self-quarantine. Chances are, you’ve already watched an ungodly amount of Netflix, forgotten to shower more than once, finished a book you started 5 years ago, picked up knitting, and even tackled spring cleaning! Congrats! But, with the President’s recent decision to extend social distancing guidelines through the end of April, you’re probably wondering what on earth you’re going to do to pass the time now. While watching The Office for the 15th time is definitely a valid option, let’s consider using this as an opportunity to check your financial pulse and discover ways to cut costs, save a little extra, and even increase your generosity!

    Perusing through your bank statements might not sound like the most exciting way to spend your Friday night. We get it. But, we believe it will pay off – big time! That’s why we’ve also included a few ideas to reward yourself after you’ve checked each of these 5 money management tasks off your to-do list. (You’re welcome).

    • Budget: Make It. Modify It. Live it.

    If you’ve never created a budget before, there’s no better time than the present! But, where do you start? For some do-it-yourself-ers, you may want to pull up your credit card and bank statements and create your own Excel spreadsheet detailing your income, spending habits, outstanding debts, and savings goals. For others (like myself), creating an Excel spreadsheet sounds about as fun as watching paint dry. If you can relate, check out these budgeting apps and templates to help you get started:

    Ultimately, how you create your budget is much less important than simply having one in the first place. The goal is to understand where your money is going every month, allowing YOU to have control over your finances. If you’re not sure what happened to your paycheck, then your money has control over you (and that ain’t cool). No matter how you decide to budget, make sure it is a repeatable process that you can frequently revisit and revise as needed.

    As you grow and evolve as a person, your budget should, too. That’s why – if you already have a budget – now is the time to review it and see how well you’re staying on track. Are there any specific categories where your spending is a little too high? Any small expenses that are adding up over time? Are you saving as much as you’d like? If not, can you automate your savings from your paycheck to your savings or your investment account to make it easier?

    REWARD: Once you’ve created or reviewed your budget, reward yourself by breaking out your favorite board game or card game (or ordering a new one online) and having a game night! You can even plan a virtual game night by video conferencing with friends or family who share a common game.

    • Subscriptions: Automatic Payments Are Great, Except For When They Aren’t

                While reviewing your budget, you may have discovered that you’ve been paying for subscriptions or memberships that you haven’t been using (or getting your money’s worth out of). Spend 30 minutes identifying which subscriptions you don’t use and cancelling your membership. Or, instead of canceling the subscription all together, you may have the option of freezing the subscription or skipping a month if you just won’t use it right now, but might in the future. Here are a few ideas of automatic payments to look out for:

    • Streaming Services (Maybe you started that 7-day free trial on Hulu to watch one specific movie and forgot to cancel it afterwards.)
    • Transportation Services (Think: bus, train, or toll-road pass that you aren’t using right now due to working from home.)
    • Gym Memberships (While many gyms automatically froze their member’s accounts, you might want to double check that you aren’t being charged while the gym is closed.)
    • App Subscriptions (Trying to figure out why the $3.99 charge from Apple or Google Play is showing up on your bank statement? Click here to find out what app subscriptions you are paying for and how to cancel them.)

                While email subscriptions aren’t necessarily costing you money, now might also be a great time to go through your 10,528 emails and unsubscribe from unwanted messages. It’ll unclutter your inbox, clear your mind, and even reduce your spending by eliminating marketing campaigns for items you don’t need (but apparently MUST have). Unroll.me is a great tool that will identify email subscriptions you are currently receiving and unsubscribe you in a couple easy clicks.

                REWARD: Once you’ve canceled those memberships and deleted at least 9,627 emails, reward yourself by watching a movie or documentary about someone who inspires you.

    • Bump Up Your Saving and Investing

                For many people, the Stay At Home orders have resulted in reduced spending as many daily activities such as travel, eating at restaurants, going to the movies, working out at the gym, or even getting a haircut have been temporarily eliminated. Instead of wallowing in self-pity about how much you miss your favorite Starbucks drink or how badly you need to get your hair done, take advantage of the money you aren’t spending by intentionally putting it in a savings or investment account.

                Also, due to the recent stimulus plan announced by the Treasury Department and IRS, many Americans will be receiving a payment of $1,200 (for single persons) or $2,400 (for married couples) if certain qualifications are met. If you are fortunate enough to not depend on the check to meet basic living expenses, consider using the funds to pay down high interest debt, transferring the money to your savings or investment account, or even donating to a charity you support. Leaving the funds in your checking account could lead to making unnecessary online purchases, just because you know the money is there to spend.

                Lastly, if you are financially able, now may be a good time to increase your percentage of automated payments into your savings or retirement accounts. Even bumping up your contributions by 1-2% could make a big difference to your long-term savings goals without feeling much of a difference to your take-home pay. If you’re not sure how to automate or increase payments from your paycheck, reach out to your company’s HR department or directly to your bank.

                REWARD: Boom – you’re slaying your savings goals! Reward yourself by building an epic fort out of bed sheets and blankets. You can even “camp” by making s’mores in the oven and having an indoor bonfire.

    • Insurance – Are You Covered?

                The topic of insurance might make you want to pour yourself a big glass of your favorite beverage. (Go ahead – we’re not judging). The reality is that most of us have some form of insurance (auto, health, life, etc.), but we don’t know much about how it actually works. Since you’ve got a little free time on your hands, do some research on the insurance that you own. Make sure you understand the basics – like how much the insurance costs vs. what benefits it provides. Along those lines, evaluate whether you are overinsured or underinsured in any area and make adjustments accordingly. Here are a few places to start:

    • Health Insurance: If you have health insurance through an employer, ask your HR department for a copy of your health insurance plan documents. Make sure you’re aware of your deductible, or how much you owe out of pocket before your insurance kicks in to cover the rest. If you have access to a High Deductible Health Plan (HDHP) and a High Yield Savings Account (HSA), it might be a good idea to keep at least your annual deductible amount in your HSA. Your contributions to your HSA will be tax deductible, the interest earned in the account is tax-deferred, and if you end up needing to use the funds to pay for a qualified health care expense, the money will come out tax-free.
    • Auto Insurance: Chances are, you’ve got it (or at least you should). But how do you know if you’ve got enough insurance and what exactly it covers in the case of an accident? NerdWallet provides an excellent resource of key car insurance terms. Use this as a reference while reviewing your benefits summary, which you can usually find on your car insurance website or by calling your local agent. Also, Insurance.com provides a great calculator for determining how much coverage you realistically need.
    • Life Insurance: Or should we say, Love Insurance. Really – this is the only insurance you’ll buy that won’t benefit you in any way. But, it could mean the world to your loved ones if you pass away unexpectedly. Some employers provide basic life insurance coverage for employees (something like 2x annual salary). Check with your HR department to see if this is the case (and to make sure your beneficiaries are up-to-date). However, the reality is that coverage through your employer may not be sufficient to take care of your loved ones if they suddenly lose your income. Remember: if you own a house, a car, student loan debt, credit card bills, etc., your loved ones will be responsible to continue paying these obligations even without you around. Use these tools to figure out if you are properly insured:
    • Disability Insurance: Same concept as life insurance applies here. Some employers provide basic disability insurance coverage for employees, but you’ll want to check with your HR department to see if this is the case. However, often the coverage provided may be extremely minimal and won’t come close to meeting all of your basic needs if you are unable to work. Here are a few resources to determine if you need additional coverage:

                REWARD: By the time you’ve brushed up on your insurance coverage, you may have already finished your first drink of choice. Why don’t you pour yourself another and host a Virtual Cocktail Party with friends and family? You deserve it.

    • Charity – When The Best Way You Can Help Is Staying At Home

                As we are bombarded with media headlines about the pandemic and, at the same time, urged by our political leaders to stay at home, it can leave us feeling helpless. We know the world is hurting, but the best way to help prevent the spread and flatten the curve is to keep to ourselves. But, this doesn’t mean we can’t still make a huge positive impact right from our own living room.

    If you are fortunate enough to have money leftover after taking care of your basic needs, consider donating to a charity that is actively meeting the needs of those most affected by COVID-19. Even $5 could provide several meals to a child who normally receives their nourishment through school breakfast and lunches. Find an organization that you believe in and make a donation, big or small. Not only will it provide resources to those who need them most, but it will also allow you to be actively involved in fighting the COVID-19 battle. CharityNavigator.org lists multiple organizations responding to COVID-19, along with a description of the nonprofit and detailed information about the needs it is meeting. Leave a comment below sharing the charity that you are supporting and why it means something to you!

    REWARD: Giving to charity provides the best reward of all: joy in knowing that you have made a positive impact on the world.