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Dr. Preston D. Cherry

Founder and CEOConcurrent Financial Planning

Green Bay, WI

Member Since November 2023

Skills

Financial Planning & Advice
Behavioral Finance
Communication & Public Speaking

About

My jam is learning people's stories and aspirations to help them achieve financial success. I'm a husband, son, brother, and expectant father, and I appreciate vinyl records. Secondly, I'm an award-winning financial advisor with a Ph.D. in Personal Financial Planning. All are focused on advancing the human condition through financial advice and education. I understand what it takes to balance life and finances properly because I've been there before. My mission is to help others find a harmonious Life Money Balance® – one that reflects their goals and aspirations, living for their current and future. Concurrent was founded on my personal story of aspiration and a journey of trial, triumph, transitions, and transformation. Life has seasons, and an early career triumph at 28 was quickly met with a shameful failure. Twelve years ago, I declared personal bankruptcy and took some time to pay off my debts. I lost homeownership due to mismanagement of my finances. Years of lukewarm professional progress and emotional self-destruction followed, which I call "the fog years." During this season of the trial were seven years of discovery. Life and money needed direction. In fact, they were going in opposite directions—misalignment of values and identity. At the culmination of this season, I had gotten used to darkness so dark that darkness was where I thought I belonged. Devoid of light. However, seasons change. And so did my life aspirations. The seasons informed and activated my Life Money Balance®.

Published content

Worried About Layoffs? Six Steps to Ease Your Financial Fears

expert panel

Having a plan in place can give you peace of mind during a crisis. As more and more company layoffs are announced, employees across industries are worrying about their financial well-being. Will their company be the next to surprise its workforce with a round of cuts? How will they take care of themselves and their family if they no longer have an income? How long will it take them to find a new job? While you can never totally predict the future, there are steps you can take to help prepare for it. If you’re worried about potential layoffs at your company or in your industry, or you’ve been laid off from your job already, consider the following advice from the financial experts of Kiplinger Advisor Collective. Here, they discuss the steps you can take to help prepare your household for a layoff, get back on your feet after a layoff and ease your financial fears during an uncertain time.

11 Tips for Talking to Your Aging Parents About Their Finances and Future Care

expert panel

Such a sensitive subject requires a careful approach. Talking to your aging parents about their finances can be extremely difficult, but it can be important to ensuring they are supported and cared for in their later years. As parents grow older, they may find it harder to do the things they’ve always done, such as manage their day-to-day finances or make major decisions about money. They may also have certain wishes regarding their long-term care or what they’d like done with their assets once they pass on. Having these conversations with your parents early on can help ensure you’re on the same page and help them make the best decisions for their needs. However, approaching parents about this subject can be challenging, and parents may not always be receptive to getting advice from their children — even if they are grown adults themselves. To help make these matters easier for both parties, the financial experts of Kiplinger Advisor Collective each share one tip they’d give for how to approach this type of conversation with aging parents, and why implementing this tip can ensure everyone is happy.

Eight Easy Ways to Save Money Without Compromising Your Lifestyle

expert panel

Saving money can be as simple as a quick phone call. Lots of people are interested in saving more, but they don’t always want to change their lifestyle in order to do it. Especially when you have a large amount to save or haven’t started saving at all, it can be difficult to find the motivation to cut back on the things that bring you joy. However, saving, even if it’s just a little bit each month, is an important part of your wealth-building journey. It not only ensures you have cash to fall back on when emergencies eventually arise, but it also allows you to make larger purchases and afford the kind of lifestyle you aspire to have in the future. So does that mean you have to cut way back on your lifestyle now in order to save for the future? According to the money experts of Kiplinger Advisor Collective, that doesn’t have to be the case. Here, they discuss little (but effective) ways anyone can easily save money each month without compromising their overall lifestyle or sacrificing joy.

11 Mindsets That May Actually Be Hurting Your Financial Progress

expert panel

To change your finances, you’ll first need to change your thinking. The way people think about money can have a greater impact on their financial success than they may think. Whether it’s the way you were raised or a belief that you have come to over time, the mindset that you develop around your finances has a direct influence on the actions you take with money and your behaviors surrounding it. These beliefs can be positive or negative, truthful or a lie — but how can you tell the difference? Below, the financial experts of Kiplinger Advisor Collective list out some of the most common money mindsets people have that may actually be hurting their progress with money, detailing not only the reasons why but also how they can change and finally get their finances in order.

Six Benefits to Setting Up a Trust for Your Assets

expert panel

Don’t leave your legacy up to someone else. While the main focus of your wealth-building journey may naturally be building up your wealth, it’s equally important to determine what to do with it once you have it. Whether you’re planning to give it away upon your death or would like to give some away while you’re still alive, planning for either situation can help you ensure your hard-earned wealth is distributed how you’d like, to whom you’d like and when. A common solution for wealth distribution is a will. A will offers you the opportunity to describe how you would like your assets distributed upon your passing; however, another popular solution is a trust, which allows you to direct the distribution of your wealth while you're still alive. While both are great solutions depending on your goals, a trust can have other benefits you may want to consider. Below, the financial experts of Kiplinger Advisor Collective outline six additional benefits of trusts and why putting your assets into a trust may be the best solution for you.

Seven Steps to Start Your Child Off on the Right Financial Foot

expert panel

It’s never too early to start thinking about your child’s financial future. When you’re a new parent, you have a lot on your plate. Between learning how to care for your child’s physical and emotional needs and adapting your life around your new family member, you’re also trying to consider their future and what you may need to do now to help get them started on the best path to success. One area that may draw your attention is their future financial security. What habits will they need to develop in order to have a healthy relationship with money? What steps can you take while they’re young to prepare them for the expenses of the future? These questions can feel overwhelming, especially while you’re still adjusting to parenthood, but even simple steps can have a big impact. According to the financial experts of Kiplinger Advisor Collective, the following seven steps are a good place to start. Below, they outline each one  and why taking each particular step will ensure your child is on the right trajectory for a successful financial future.

Company details

Concurrent Financial Planning

Company bio

Concurrent Financial Planning offers a place where people can engage in a transformational personal financial planning process that aligns their life’s purpose with their money to create their life design and achieve financial freedom. We help affluent GenX build wealth and achieve financial freedom, maximizing your lifestyle now AND optimizing your retirement future with confidence.

Industry

Financial Advising & Planning

Area of focus

Financial Advising & Planning
Retirement Planning Services
High-Net-Worth Wealth Planning

Company size

2 - 10

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