Q4 Letter to Clients

I could sit and watch a stream or river all day long.  There is constant movement, and yet, the water is always right there in front of me, covering the same ground, falling over the same rocks and touching the same boundary on each side.  The water isn’t in a hurry. It shapes rock by returning to the same line again and again. That felt like a useful reminder for investing but really, for life – we make real progress by showing up with purpose and relentless consistency, not by forcing outcomes.  It’s a lesson that I seemingly must learn over and over again, but also continues to inform my approach to good, sound financial planning.

Market and Economic Overview

The third quarter brought plenty of headlines around interest rates, inflation reads, and geopolitics, yet the market’s tape told a different story. U.S. stocks advanced through the quarter, with the S&P 500 posting gains in July, August, and September and notching several new record closes in September. It didn’t move in a straight line, but it did move – and more than the headlines alone might suggest. For context, late September trading steadied after inflation data came in as expected.  Day-to-day swings will keep coming, but they don’t change the core job of a long-term plan.

Developed markets outside the U.S. also showed strength. Part of their performance stems from a weaker U.S. dollar, which amplifies returns in dollar-terms for overseas equities. This has also supported returns in emerging markets, which have surpassed U.S. equities.  The theme continues to be that different markets lead at different times, and spreading risk across geographies helps steady the journey.

Planning Moves That Matter

Just like the water in my favorite stream, we’re focusing on things that compound quietly and that make meaningful changes over time:

  • Cash segmentation for spending needs – matching an appropriate amount of known withdrawals to high-quality cash vehicles (money markets, Treasuries, short-term bonds or other ladders) so the rest of the portfolio can do its long-term work.
  • Rebalance with intent – trim what has run, add to what’s lagged inside your target ranges, and redeploy new cash strategically into the asset classes most out of balance.
  • Year-end tax work – harvest losses where appropriate, manage capital gains distributions, and pair giving with taxes: direct appreciated shares to donor-advised funds, consider QCDs if you’re taking RMDs, and review state-specific opportunities before December 31.
  • Purpose-built buckets – where it fits, we’ll keep leaning into liability-driven investing that ties assets to time horizons instead of a single, generic “risk number.”

If your cash flow, goals, or time frames have shifted recently, let’s update the map now rather than after January 1.

Money and Meaning

Optimizing your money is obviously important but not if it comes at the expense of optimizing your life (I’m speaking to myself here).  Recent On Adventure conversations offered a thread worth carrying into Q4.

  • Bob Becker spoke about finishing Badwater 135 at age 80 – not with bravado, but with gratitude, routine, and a stubborn gentleness that kept him moving when it got ugly.
  • Lisa Smith-Batchen (will be released on October 3) reminded us that the best crews and mentors hold a mirror to your ‘why’ when your legs want to quit.
  • Wells Jones talked about drawing a line in the sand – not as a dare, but as a promise to live aligned with what matters.

Nature is saying the same thing right now. The light changes. The trail looks different. The real work is to keep showing up with intention. Money is just one of the tools that helps you do that – to buy time, fund experiences with the people you love, support causes that reflect your values, and create margin for the kind of adventures that make you feel most alive.

Thank you for your trust. If something in your world has changed – a new goal, a liquidity event, a move, college bills, eldercare planning – let us know and we’ll adjust the plan together.

Episode 58: How to run through Death Valley in July at age 80 with Bob Becker


In this captivating episode of On Adventure, I sit down with the legendary Bob Becker – ultramarathoner, race director, and age-defying adventurer – to unpack his incredible journey from late-blooming runner to becoming the oldest finisher of the Badwater 135, one of the world’s toughest ultramarathons.

At 80 years old, Bob proves that it’s never too late to rewrite your story, conquer deserts, and inspire generations. Whether you’re an aspiring endurance athlete, race organizer, or simply someone looking for motivation to stay active, this episode delivers.

🕓 Timestamps & Topics Covered

  • [00:04:00] Introduction – Welcoming Bob Becker and setting the stage.

  • [00:06:00] Late Bloomer in Running – Bob started serious running at 57!

  • [00:07:30] First Ultra: Marathon des Sables – 150-mile Sahara race to celebrate turning 60.

  • [00:09:00] Why Ultras? – The deep camaraderie and the life-changing community.

  • [00:13:00] Training Without Mountains – How Bob trains for elevation in flat Florida.

  • [00:18:30] From Running to Race Directing – Launching the iconic Keys 100 and Daytona 100 races.

  • [00:23:00] Life After Real Estate – How Bob turned adversity during the financial crisis into purpose.

  • [00:27:00] Jungle Racing in the Everglades – Creating and running a now-legendary trail race.

  • [00:34:00] Enduring Support – His wife’s unique but wholehearted support.

  • [00:38:00] Intergenerational Adventure – Racing with his granddaughter.

  • [00:39:30] Movement as Medicine – Encouraging older adults to “just start moving.”

  • [00:40:00] Nutrition & Heat Strategy – Vegan lifestyle and fueling for the long haul.

  • [00:47:00] Inside Badwater 135 – The heat, the altitude, the brutal beauty.

  • [00:54:00] History in the Making – Becoming the oldest finisher in Badwater history.

  • [01:00:00] Mental Grit – Mantras, bear crawls, and mindset hacks.

  • [01:05:00] Lessons from the Trail – What Bob’s learned from every finish line.

🏆 Key Takeaways

  • 🧠 Age is not a limitation – Bob didn’t start running seriously until his late 50s.

  • 🌱 Vegan athlete – Nutrition was key to training, racing, and recovery.

  • 🥵 Badwater veteran – 6x Badwater runner; oldest finisher at age 80.

  • 🛠️ Creative training methods – Pulling tires across bridges to simulate hills.

  • 💪 Mental strength over miles – Bear crawled the last mile of Badwater in 2022.

  • 🧡 Inspiring generations – Encourages others, especially seniors, to stay active.

✨ Notable Quotes

“If someone else can do it, why can’t I?” – Bob Becker

“The finish line is glorious. It’s a bragging right you carry forever.”

“You’re never too old to start moving. Start walking, gardening – just move.”

🔗 Connect with Bob Becker

🎧 Enjoyed this episode? Don’t miss out on more inspiring conversations with adventurers, endurance athletes, and game-changers just like Bob Becker.


👉 Subscribe to the On Adventure Podcast on your favorite platform to stay updated with every new episode.


📺 Want to see the stories come to life? Head over to our YouTube channel for full interviews, behind-the-scenes clips, and bonus content you won’t hear on the audio feed.


🔥 Hit that subscribe button, leave us a review, and join our growing community of adventurers!

Check out this episode!

On Adventure: Lessons from the Edge

Adventure isn’t just about the trails we run or the mountains we climb. It’s about the way challenge shapes us—pulling us past our limits, stripping away comfort, and helping us see what matters most. In the last three episodes of the On Adventure Podcast, I’ve had the chance to sit with guests who live this out in remarkable ways.

Ken Posner: Chasing the Grid and Hearing Nature’s Call

Ken Posner set out to complete “The Grid”—climbing all 35 high peaks of New York’s Catskills every month of the year. It’s a feat of endurance, yes, but more than that, it’s a practice in transformation. Along the way, Ken experimented with barefoot running, stripped away layers of technology, and found stillness on the other side of immense physical suffering. His story reminds us that nature is always sending a signal—we just have to quiet the noise long enough to hear it.

Dr. Charles Infurna: Coaching beyond limits 

Dr. Charles Infurna grew up in a Sicilian immigrant family where work ethic wasn’t taught in lectures—it was lived out daily. That example fueled his career as both an athlete and a coach. In our conversation, Charles shared the delicate art of pushing athletes to see beyond their perceived limits without crossing into unhealthy pressure. His insight applies far beyond sports: adventure often means recognizing that the line we think is our limit is usually much farther out

Tom Hicks: Purpose, pain and the price of adventure

Conservationist and adventurer Tom Hicks spends his days fighting global wildlife crime syndicates and his free time chasing extreme endurance challenges. From Ironman races to the Barkley Marathons, from scaling remote peaks to preparing for a South Pole expedition, Tom leans into the suffering that comes with hard pursuits. For him, discomfort isn’t something to avoid—it’s often the price of purpose. His perspective is a reminder that adventure changes us not only by where it takes us, but by who it calls us to become.

 

Why do these stories matter?  Ken, Charles, and Tom live very different lives, but their stories echo the same truth: adventure is an invitation. It calls us outside, challenges us with difficulty, and leaves us stronger and more alive. Whether it’s on a mountain trail, a sports field, or in the wilderness of Africa, the pursuit of hard things reveals who we really are.

You can listen to the full episodes of the On Adventure Podcast on Apple, Spotify, or wherever you get your podcasts.

Episode 57: Barefoot Running, the Badwater Double FKT, and Chasing the Grid with Ken Posner


In this episode of the On Adventure Podcast, I sit down with Ken Posner—ultrarunner, author, former Army Ranger, and corporate financial analyst—to explore the transformative power of pushing physical and mental boundaries. Ken shares stories from his extraordinary journey completing the “grid”: summiting all 35 high peaks of New York’s Catskills in every month of the year. Along the way, he stripped away technology, embraced barefoot running, and found a deeper connection with nature and himself.

This episode isn’t just about extreme endurance. It’s about rediscovering who we are when the noise of the modern world fades away. We unpack how doing hard things in nature can bring clarity, strength, and a more balanced life. Whether you’re curious about barefoot hiking, intrigued by minimalist living, or seeking inspiration to shake up your own routine, Ken’s story will move you.

Timeline Summary:

[2:22] – Ken’s shift from corporate life to ultra endurance running in his late 30s
[4:00] – Why he started running barefoot and what kept him going
[7:45] – The joy, mindfulness, and sensation of barefoot movement
[10:10] – Balancing high-tech corporate work with minimalist, analog outdoor living
[19:00] – The metaphor of “signal vs. noise” and how nature helps us tune in
[28:30] – Pain vs. suffering: building resilience through chosen challenges
[35:00] – The Badwater Double: a 292-mile journey through Death Valley and back
[47:30] – How the mountains called him at age 50 and led to chasing the grid
[54:00] – The spiritual and transformative lessons learned through mountain pilgrimages

Links & Resources:

Closing Remark:

Please check out Ken’s website and support him by purchasing his new book! 

If this episode sparked something in you, share it with a friend who could use a little adventure in their life. Be sure to follow, rate, and leave a review of the podcast and well as our new YouTube channel—it helps us reach more everyday explorers just like you. Thanks for tuning in!

Check out this episode!

Episode 56: How Great Athletes Are Made with Dr. Charles Infurna


In today’s episode, I’m joined by Dr. Charles Infurna—a coach, academic, and athlete—who shares a powerful story about unlocking human potential. From the legacy of his immigrant family to his own journey through athletics and coaching, Charles brings a deep, authentic perspective on what it really takes to push past limits and perform at the highest level.

We talk about the importance of belief, the trust that fuels great coach-athlete relationships, and how to balance ambition with healthy detachment. Whether you’re chasing Olympic dreams, striving for personal growth, or trying to show up better for your kids, Charles’ reflections offer real wisdom for anyone walking their own adventure.

Timeline Summary

[1:22] – The immigrant roots that shaped Charles’ drive and work ethic
[5:00] – Early lessons from watching his parents work tirelessly for the American dream
[7:50] – The college years: How track and field became the anchor that kept him moving forward
[10:12] – Stepping into coaching: From reluctant start to life-changing purpose
[16:00] – Navigating identity, ego, and love for the sport in his first years as a coach
[19:45] – Parenting and coaching: What he’s learned about motivation, belief, and letting go
[22:55] – The most important thing a coach can do: Be a “light giver” and guide belief
[27:10] – Stories of grit, growth, and belief from standout athlete Lewis and others
[35:00] – Research insights: What Olympic coaches do differently to create trust and performance
[45:00] – Inside “The Throwing Circle”: Charles’ upcoming book and how it blends story with science

Links & Resources

  • Follow Dr. Charles Infurna
    Instagram & Twitter: @charlesinfurna
    LinkedIn: Charles Infurna

  • Dr. Infurna’s Upcoming Book: The Throwing Circle
    Launching Summer 2025 – Available soon on Amazon, Barnes & Noble, Target, and Costco.

  • Josh’s Financial Planning Resources
    Website: www.ridgelinewealthadvisors.com
    Newsletter: The Money Trail Guide – Sign up on the site!

Enjoyed This Episode?

If you found this conversation valuable, don’t forget to rate, follow, share, and review the podcast! Your support helps us keep bringing inspiring stories and hard-won insights from everyday explorers, adventurers, and achievers.

👉 Also, be sure to find and follow our brand-new YouTube channel where you can watch full episodes and more from the On Adventure Podcast.

Stay safe. Stay curious. Stay on the adventure.

Check out this episode!

Episode 55: From Conservation to Kilimanjaro – A Life of Meaningful Struggle with Tom Hicks


What does it really mean to suffer with purpose? In this episode of On Adventure, I sit down with conservationist and ultra-endurance athlete Tom Hicks – a man whose journey is as layered as the landscapes he climbs. From leading anti-poaching efforts across Africa and Asia with the David Shepherd Wildlife Foundation to tackling brutal challenges like Ironman races and high-altitude expeditions, Tom’s life is defined by intentional hardship, deep introspection, and relentless forward motion.

We dive into the heart of resilience, why discomfort can be transformative, and how a former rugby coach found meaning in the mountains. Tom also shares his connection with previous On Adventure guest Holly Budge and his plans to lead a new team to the summit of Kilimanjaro. Whether you’re an aspiring adventurer, a mindset junkie, or someone wrestling with self-doubt, this episode delivers a powerful reminder: growth is never linear, and purpose is often found in the pain.

Episode Highlights:

[3:00] – Fighting global wildlife crime: Tom’s work with the David Shepherd Wildlife Foundation
[8:00] – The brutal truth about poaching, organized crime, and the risks of field conservation
[12:00] – From being told he’d never succeed to becoming a conservation leader
[18:00] – Mentoring the next generation: the importance of presence and vulnerability
[24:00] – The “circuit breaker” mindset tool to quiet negative inner voices
[29:00] – What drives us to endure suffering in pursuit of meaning
[38:00] – A life-or-death lesson on Lenin Peak – and why good decision-making matters
[45:00] – Remembering Dixie Dansercoer and how it reshaped Tom’s risk tolerance
[54:00] – Emotional regulation in chaos: the power of calm leadership
[59:00] – Balancing ambition, burnout, and building a team for Kilimanjaro

Links & Resources:

Connect with Tom:
Have questions about conservation, endurance training, or joining the upcoming Kilimanjaro team? Reach out to Tom directly on LinkedIn or Instagram – he’s always happy to connect with fellow adventurers and curious minds.

Enjoyed this episode?
If Tom’s story sparked something in you, take a second to rate, follow, and review On Adventure. And be sure to follow us on Instagram, Facebook, and LinkedIn for behind-the-scenes content, updates, and inspiration from the trail. Plus – don’t miss new episode drops and bonus video content on our brand-new YouTube channel. Hit subscribe and join us for the next great adventure.

Check out this episode!

Three Adventures, Three Life Lessons – New Episodes of On Adventure Podcast

If you’ve missed the latest episodes of On Adventure Podcast, now is the perfect time to catch up. These three conversations share a common thread – ordinary people stepping into extraordinary moments – yet each one unfolds in a completely unique way. You can find all of these at the podcast website linked here or any podcast app.

Holly Budge: Skydiving Over Everest and Fighting for Wildlife

Holly Budge doesn’t just chase adrenaline; she turns her adventures into advocacy. In our conversation, she recounts becoming the first woman to skydive over Mount Everest and racing semi-wild horses across Mongolia. But the real heartbeat of Holly’s story is her work supporting female wildlife rangers protecting endangered species. Her insights on fear – how to normalize it and even use it as fuel – will leave you rethinking how you approach challenges in your own life.

Tanner Critz: Hiking Toward Identity on the Appalachian Trail

Tanner’s journey is raw and reflective. He opens up about hiking the Appalachian Trail in his early 20s, not just for the adventure but as a way to strip life down to the essentials and ask, Who am I really? Along the way, he wrestles with hidden health struggles, isolation, and the profound reset that comes from removing every societal label to rediscover yourself in the wilderness.

Brian Warren: From Mountain Guide to Fatherhood and New Horizons

Brian Warren’s life arc reads like an explorer’s logbook – thru-hiking the AT days after high school, moving to Jackson Hole sight unseen, and guiding climbs from the Tetons to the Himalaya. Yet his current challenge is far different: stepping out of the outdoor industry, embracing fatherhood, and navigating a new career path. Our discussion explores how the lessons of mountaineering – presence, risk, and reinvention – translate to the next chapter of life.

Each episode captures a different angle of adventure – from fear to identity to reinvention – and offers takeaways you won’t find in a highlight reel. Grab your headphones, go for a walk, and dive into stories that might just shift how you see your own journey.

Episode 54: Suffer in Comfort and Other Lessons from Elite Mountain Guide Brian Warren


In this episode of the On Adventure Podcast, I sit down with Brian Warren—an elite mountain guide whose life has been defined by risk, reinvention, and a deep connection to the mountains. From thru-hiking the Appalachian Trail just days after high school to guiding in the Tetons, Himalaya, and beyond, Brian’s journey is a masterclass in resilience, leadership, and embracing the unknown.

We explore how Brian transitioned from living out of a backpack to leading high-stakes expeditions around the globe—and eventually, to navigating a whole new adventure: fatherhood and a career pivot into financial services. This conversation dives deep into themes of identity, confidence vs. competence, imposter syndrome, and the unique lessons that come from suffering in comfort. If you’ve ever wondered what it’s like to reinvent yourself while carrying forward everything hard-earned from past chapters, this episode is for you.

Timeline of Highlights

  • [2:22] – Launching into adventure: Brian’s decision to thru-hike the Appalachian Trail at 18.

  • [10:45] – Discovering leadership on the trail and earning the nickname “Merlin.”

  • [18:20] – Transitioning from Knowles courses to guiding in Jackson Hole and the Tetons.

  • [27:05] – Learning to ski on “toy skis” and the path to heli-ski guiding.

  • [37:50] – Companionship as the secret ingredient to adventure: why relationships matter in the mountains.

  • [44:00] – “Suffer in comfort”: Brian’s mantra for staying calm in high-stakes situations.

  • [1:04:15] – Stories from the edge: avalanches, crevasse falls, and helicopter crashes.

  • [1:10:30] – Reinventing life beyond the mountains: from guiding to financial planning.

Links & Resources

Closing

If this episode inspired you, please rate, review, and share the podcast. You can also find our new YouTube page!  It’s the best way to help more adventurers like you find these conversations. And don’t forget to follow so you don’t miss the next episode.

Check out this episode!

Episode 53: How a Near-Death Experience and 2,200 Miles on Foot Led to True Purpose with Tanner Critz


What drives someone to leave behind comfort and pursue something deeply meaningful? In this episode of On Adventure, I sit down with Tanner Critz – a martial artist, Appalachian Trail thru-hiker, and founder of Unity Martial Arts in Little Rock. This conversation isn’t just about hiking 2,200 miles or building a successful dojo. It’s about identity, purpose, and the courage it takes to follow your own path – especially when it’s steep and uncertain.

Tanner opens up about his pivotal adventures: hiking the AT alone with a hidden bleeding ulcer, turning a quiet martial arts passion into a thriving community, and facing a near-death COVID experience that shook his world. We explore what it means to live with intention, take risks that matter, and find a sense of home in both place and people. Arthur Brooks says that to live a happy, meaningful life, we all have to answer two questions…Why am I here, and What am I willing to die for?  If you’ve ever asked yourself either of these questions – this episode is for you.

🕒 Episode Timeline

[3:42] – How a year of reflection led Tanner to hike the Appalachian Trail
[8:15] – Experiencing deep physical pain—and choosing not to quit
[14:29] – The unexpected transition from graphic design to martial arts
[20:51] – Starting Unity Martial Arts and building community through connection
[31:03] – The philosophy of self-defense and teaching through empathy
[39:30] – Surviving COVID: A near-death experience and its lasting impact
[46:10] – Finding peace, purpose, and the value of rest
[52:58] – Advice for anyone standing at the edge of a big life decision

🔗 Links & Resources

If this episode resonated with you, take a moment to follow, rate, and review the podcast. Also check out our new YouTube page and be sure to subcribe there.  And don’t forget to share it with someone who might be standing at the edge of their own next big step. See you next time, adventurers.

Check out this episode!

Episode 52: Skydiving Everest, High Mountain Summits and Empowering Female Rangers with Holly Budge


In this special episode of the On Adventure Podcast, I sit down with the unstoppable Holly Budge—an adventurer, conservationist, and the first woman to skydive over Mount Everest. With World Female Ranger Week in full swing, this conversation couldn’t be more timely. You can find out more about what these incredibly brave female rangers do here and why they are being celebrated this week.  Holly opens up about transforming fear into fuel, climbing the world’s highest peak solo, and how her bold expeditions became a platform for championing female wildlife rangers.

We explore her work with How Many Elephants and the founding of World Female Ranger Week, diving into the challenges and triumphs of the women on the front lines of conservation. Whether you’re an adventure junkie, a purpose-driven leader, or someone looking for that next spark of inspiration, this episode delivers the goods.

Timeline Summary:

[2:15] – How a single conversation launched Holly’s journey to skydive Everest
[6:47] – What it’s like to freefall at 29,500 feet over the Himalayas
[12:22] – Training your mindset for mental toughness and high-altitude endurance
[17:31] – The origin story of How Many Elephants and connecting passion with purpose
[21:18] – Launching World Female Ranger Week and elevating unheard voices
[27:05] – Grit, resilience, and the power of women protecting the wild
[35:40] – What Holly’s adventures have taught her about life and leadership

Links & Resources:

🎧 Don’t Miss a Beat!

If you loved this episode, make sure to follow the show on your favorite podcast app so you never miss an adventure. And we’ve just launched our brand new YouTube channel where you can catch full episodes and exclusive behind-the-scenes content—subscribe now and join us visually!

🎙️ Follow | ❤️ Rate | 💬 Review | 📤 Share — your support means the world.

Check out this episode!