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Best In Wealth Podcast

Best In Wealth Podcast

By: Scott Wellens
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This is the best in Wealth podcast – A show for successful family stewards who want real answers about Retirement and investing so we can feel secure about our family’s future. Scott's mission is simple: to help other family stewards build and maintain their family fortress. A family steward is someone that feels family is the most important thing. You go to your job every day for your family. You watch over your family, you make sacrifices for your family, you protect your family. I work with family stewards because I am one; I have become an expert in the unique wealth challenges family stewards face. Scott Wellens is the founder of Fortress Planning Group - an independent, fee-only, registered investment advisory firm. Fortress Planning Group is dedicated to coaching clients toward a holistic view of wealth and family stewardship. Scott is a certified financial planner, a fiduciary and has been quoted in the industry’s leading websites including Forbes, Business Insider and Yahoo Finance. Scott is also a Dave Ramsey Smartvestor Pro in the greater Milwaukee and Madison areas.Copyright 2026 Scott Wellens Economics Parenting & Families Personal Finance Relationships
Episodes
  • Preparing Your Retirement Portfolio for a Grizzly Bear Market, Ep #270

    Preparing Your Retirement Portfolio for a Grizzly Bear Market, Ep #270
    Jun 12 2026
    Are you ready for the next grizzly bear?—not the animal, but a major market downturn. He discusses the history of market corrections, bear markets, and the rare but devastating grizzly bear markets, illustrating why it is crucial to evaluate your portfolio’s risk level during strong market conditions—not during times of crisis. Whether you are approaching retirement or still in your wealth-building years, this episode will prompt you to reconsider your risk tolerance, portfolio diversification, and readiness for inevitable market storms.Outline of This Episode[03:34] Importance of communicating about conflict before it arises [06:27] Discussing market downturns and returns[10:16] Understanding Market Corrections[11:31] S&P 500 correction frequency[16:51] Assessing portfolio risk levels[18:01] Understanding risk and portfolio deviations[24:03] Preparing for market downturns[25:11] Preparing for market downturnsThe Importance of Talking About Risk—Before the DownturnMuch like in relationships, it is best to address potential conflicts before they arise; investors address risk before markets turn volatile. Re-evaluating your comfort with risk and your portfolio's construction when things are calm puts you in the driver’s seat. Waiting until a downturn hits can leave you reactionary and vulnerable to poor decisions—like panic selling when it hurts the most.Understanding Corrections, Bear Markets, and Grizzly Bear MarketsI break market volatility into three categories:1. Corrections – The Baby BearA correction is a market drop of at least 10% from its recent high. While the news can make a big fuss about corrections, they are common and, historically, have historically recovered relatively quickly. The S&P 500 has seen 28 corrections since 1969—that is about one every two years. The best move during a correction is strategic rebalancing, not panic.2. Bear Markets – The BearBear markets are drops of 20% or more. Since 1969, they have happened eight times—about once every seven years. Bear markets are more serious than corrections and can be emotionally challenging, but they are still a normal part of the investing cycle. If you are lying awake at night during a bear market, it probably means your portfolio risk was not suited to your comfort level before the downturn.3. Grizzly Bear Markets – The Real ThreatA grizzly bear market is a severe drop of 30% or more, and these are rare but devastating. Since 1969, only three have occurred: during the oil and stagflation crisis of the ‘70s, the dot-com bubble in the early 2000s, and the 2008 financial crisis. These markets can take years to recover—some up to 91 months for a portfolio invested solely in the S&P 500.Diversification and RebalancingWhat separates those who weather grizzly bear markets from those who do not? Preparation and portfolio construction. A diversified 60% stocks/40% bonds portfolio has historically fared much better during grizzly bear markets—experiencing smaller drawdowns and much faster recovery times than a pure stock portfolio. By owning more than one asset class and maintaining an “airbag” of bonds and cash, retirees can draw on their safer reserves during downturns, giving stocks time to recover.The Questions Every Investor Should Be AskingIf you are living off your investments, in or near retirement, now is the time to ask:Is my plan set up for the next grizzly bear?Can I withstand a major downturn?Do I have the right mix of stocks, bonds, and cash?Has my advisor “back-tested” my plan against worst-case scenarios?Grizzly bear markets, though rare, are inevitable over a long investing life. The pain is real—but so are the solutions. Assess your risk now, diversify, prepare your cash and bond airbags, and ensure your plan has been rigorously tested for rough times. Addressing risk in your portfolio now leaves you sleeping soundly—no matter what the market throws your way.Connect With Scott WellensSchedule a discovery call with ScottSend a message to ScottVisit Fortress Planning GroupConnect with Scott on LinkedInFollow Scott on TwitterFortress Planning Group on FacebookSubscribe to Best In WealthAudio Production and Show Notes byPODCAST FAST TRACKhttps://www.podcastfasttrack.comPodcast Disclaimer:The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.
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    28 mins
  • The Retirement Trap Nobody's Talking About, Ep #269

    The Retirement Trap Nobody's Talking About, Ep #269
    May 15 2026
    While most of us spend our working lives worrying about running out of money in retirement, Many retirees actually die with far more money than they anticipated—often missing out on the experiences, generosity, and freedom that their hard-earned savings could have provided. In this episode, I discuss why so many family stewards struggle to enjoy their wealth, and offer practical steps to find balance, conquer financial fears, and ensure you fully live the retirement you planned for. Outline of This Episode[04:03] Why retirees struggle to spend[08:02] Encouraging retirees to spend[09:53] Inheriting money later in life[16:48] Enjoying life during retirement[17:54] Avoiding a life half-livedWhy Don’t Retirees Spend?There are several reasons behind this:1. Habitual Saver SyndromeDecades of saving, budgeting, and controlled spending form a deeply ingrained mindset. The wealth behaviors that enabled financial abundance are difficult to turn off suddenly at retirement. The decision to start drawing down your assets can even feel like an identity crisis: Spending then can feel like a failure, after years of associating self-worth with accumulation.2. Fear of the UnknownEven with a robust nest egg, fear is powerful: fear of running out, fear of the next market crash, fear of inflation or healthcare expenses. This anxiety may cause retirees to under-spend, even when the math says they are safe.3. Identity and Psychological AttachmentFor many, growing their savings has become part of their identity. Watching account balances grow is emotionally satisfying; drawing them down is not. Even after retirement, some people feel pressure to preserve and accumulate, rather than to enjoy their wealth—leading to decades with little change in their net worth.The Cost of WaitingResearch shows that many retirees retain nearly 80% of their nest egg even 20 years into retirement. At the same time, spending naturally declines as we age due to reduced energy, declining health, and fewer active experiences. The risk is missing out on the vital “go-go years”—the healthiest, most mobile phase of retirement—only to find that it’s too late to use those savings for the adventures and family moments we dreamed about.Regrets and Lessons LearnedAfter years of working with retirees, I consistently hear the most common regrets of wishing they’d retired sooner, traveled more, spent more time with family, or helped children and grandchildren earlier. Rarely does anyone say, “I wish I died with more money in my account.”Make sure you enjoy what you’ve built by defining the purpose of your money and clarifying what your savings are for—security, freedom, experiences, a legacy, or charitable impact. You also need to separate fear from reality, using financial planning tools, like Income Lab, can give you clarity and permission to spend by showing what’s truly sustainable. Consider starting a memory budget, instead of only budgeting for bills, earmark resources for family trips, special experiences, and gifts while you are alive.The real goal isn’t reckless spending—it’s alignment. Let your money serve your life, not the other way around. The greatest retirement tragedy isn’t running out of money, but failing to live the life your savings could have enabled. Plan wisely—then give yourself permission to spend, to give, and to make memories. That’s how you avoid the retirement trap nobody is talking about.Resources MentionedIncome LabConnect With Scott WellensSchedule a discovery call with ScottSend a message to ScottVisit Fortress Planning GroupConnect with Scott on LinkedInFollow Scott on TwitterFortress Planning Group on FacebookSubscribe to Best In WealthAudio Production and Show Notes byPODCAST FAST TRACKhttps://www.podcastfasttrack.com
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    19 mins
  • Should You Stay the Course? War, Oil, and Your Investments, Ep #268

    Should You Stay the Course? War, Oil, and Your Investments, Ep #268
    Apr 17 2026
    Watching the news recently has been an uneasy experience for investors and retirees. War headlines dominate the airwaves, oil prices have surged to new highs, and portfolio balances may not look as reassuring as they did months ago. For family stewards looking to safeguard their financial futures, the temptation to react to these global shocks is powerful. But it’s crucial not to make emotional financial decisions. Understanding the CrisisIn March 2026, military strikes in the Middle East led to severe disruptions in the Strait of Hormuz—a global oil supply chokepoint through which 20% of the world’s daily oil supply flows. Although the U.S. itself is less directly dependent on Middle Eastern oil, oil’s status as a globally priced commodity means any disruption impacts global prices and, by extension, markets everywhere. Brent crude prices quickly soared, spiking 10–15% in a day and peaking at $120 per barrel, amid fears it could rise further.Unsurprisingly, the financial markets responded with a bout of volatility. The VIX index—a gauge of investor fear—jumped from 19 to 25. Though jarring, Speaker A reminds us that these numbers pale compared to the shock during the COVID crisis when the VIX broke 80 (07:02). Recognizing this scale is the first step toward a measured response.Oil Prices and the Stock Market: It’s ComplicatedMany assume a direct, simple link: oil prices soar, stocks tumble. While sometimes true in the short term, history tells a more nuanced story. The real variable is the duration of the oil shock, not the shock itself. In the 1973 Arab oil embargo, prices quadrupled, sustained for months, and the S&P 500 lost 37% in real terms, and recovery took six years.In the 1990 Gulf War, oil prices rose 75% in two months, but once the conflict was resolved, markets rebounded in just 28 days. In 2003, fears about Iraq pushed prices up, yet the S&P 500 delivered a 25% return the following year as disruptions were short-lived. In general, short, contained shocks resolve quickly with strong recoveries. Prolonged crises cause lasting damage.Building a Rock Solid PortfolioWithstanding economic storms starts with thoughtful preparation, and ideally, we want to create a “fortress portfolio”—not a flimsy wall, but a robust structure capable of weathering attacks. This involves deep diversification:U.S. small-cap and value stocksInternational and emerging marketsReal estate investment trustsShort-term and inflation-protected bondsDiversification means that even when panic causes correlations to rise temporarily, the portfolio is designed for resilience, not prediction. Selling during a crisis, by contrast, locks in losses and exposes investors to the impossible challenge of timing the market's rebound—a decision research shows most people get wrong.Lasting Wealth Is Built Through Hard TimesWar and oil shocks always ignite fear, but history and evidence are clear that those who stay disciplined, trust a well-built portfolio, and avoid emotional, short-term decisions are the ones who preserve and grow wealth. It isn’t easy to hold the line, but it is the surest path to security and freedom for your family’s future.Outline of This Episode[00:00] Retirement planning during uncertain times[01:09] Don’t make emotional financial decisions[07:02] Understanding the VIX Index[08:57] The nuanced story of oil prices and your portfolio[14:08] Impact of oil on investments[18:13] Why timing the market is hard[23:26] Staying disciplined during volatilityResources MentionedVIX Volatility Products | Cboe Connect With Scott WellensSchedule a discovery call with ScottSend a message to ScottVisit Fortress Planning GroupConnect with Scott on LinkedInFollow Scott on TwitterFortress Planning Group on FacebookSubscribe to Best In WealthAudio Production and Show Notes byPODCAST FAST TRACKhttps://www.podcastfasttrack.comPodcast Disclaimer:The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment, or legal advice.
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    26 mins
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