The Missing Link

Nate talks about making financial literacy a core element of wealth management, Jon shares the latest additions to the Knowledge Base, Ben explains why investing is rarely the first step.

01. The financial stool is missing a leg

From Nate Hoskin, Founder & Lead Advisor

Planning and money management are only two legs of the stool. It’s the definition of giving someone a fish rather than teaching them to fish. It makes sense: it’s noticeably harder to sell fish when everyone knows how to fish.

Financial literacy is not a threat to financial advisors. In fact, leading with financial education is the best thing I have ever done for Hoskin Capital as a business.

The reason is this: I hope 95% of people don’t hire us, because most people don’t need a financial advisor.

Financial literacy allows you to own their financial journey. If you are empowered to do it on your own, the choice to hire an advisor is a conscious decision not because you feel ignorant, but because you understand the value of having an expert tend to their financial ecosystem. Those are the clients I want to work with.

As of today, the Hoskin Capital Membership has been live for two months. In that time, we have shared financial insights and education with hundreds of people. If you would like to join a community of people mastering their own finances, the Hoskin Capital Membership is the place for you.

Making financial literacy a core competency here at HC has been one of my most rewarding experiences thus far. In fact, we are expanding it even further this year.

Stay tuned for news about our new live event, slated for late July. The event will be open to everyone much like our Veritas event was in 2021, but this time we will have exclusive speakers and Q&A events reserved for our subscribers.

I don’t mind if you just subscribe for July, or you can use the discount code VERTEX to get 10% off the annual subscription.

Thank you for supporting us as we make financial literacy a core element of wealth management.

Become a Member

02. New additions to the Knowledge Base

From Jon Scott, Lead Author

We have a trio of amazing articles from Katie Martens published on the Knowledge Base this week:

• How to do a backdoor Roth

• Money conversations to have before you get married

• Understanding Power of Attorney

Katie Martens is a practicing attorney, this is especially helpful as she has experience advising her clients on a range of legal subjects. You won’t find advice this practical and personal, so for those already subscribed please take the time to read them, and if you have not subscribed this is the perfect time!

03. Investing is not the first step (most of the time)

From Ben Silvernale, Strategic Advisor

Surprisingly, the focus of young adults should rarely be on investing. Most of the time, and this is especially applicable for those in their early-to-mid twenties, the focus should be on establishing a solid foundation of cash reserves. There was a survey conducted by Bankrate in January 2022 that found 60% of Americans did not have enough money to cover a $1,000 surprise expense. They would have to borrow money, cut expenses, or ask for help.

Before jumping ahead to investing, start with the basics:

1. Where is Your Money Going?

2. Create a Cushion

Only then does it make sense to Save for Financial Independence and get to the investing light at the end of the tunnel.

Like Nate says, “The first steps towards financial independence are not flashy, but necessary to start the journey regardless.”

To make it easier, we broke down these steps in the Financial Journey section of the Hoskin Capital Membership. I even have the first two taped to my wall, they serve as a great reminder of the financial elephant in the room. Give it a try, and reach out if you have any questions!

“Indecision may or may not be my problem."

- Jimmy Buffett

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