Budgeting know-how with Jeff Smith and Jennifer Scherer

In the heart of Arlington, Virginia, just a stone's throw away from Washington, D.C., two unique businesses specialising in physical and financial health have found their home. The Retirement Smith, owned by Jeff Smith, and Fredericksburg Fitness Studio, run by Jennifer Scherer, share the same building in downtown Fredericksburg.

Jeff Smith, a seasoned financial planner, believes the financial industry is often too complex and broken for individuals to navigate on their own. His practice, The Retirement Smith, focuses on the fundamentals of financial planning, aiming for a "cutting-edge boring" approach that prioritises stability over high returns.

On the other hand, Jennifer Scherer, a registered dietitian and the mastermind behind Fredericksburg Fitness Studio, caters to clients aged 55 or older who can afford private training and often have preexisting health conditions. With a staff of 11 employees, her company has grown significantly since its inception, when she took an entrepreneurial approach by travelling to clients' homes to provide personal training services.

Their paths crossed "by accident," leading to the creation of their joint podcast, Fitness & Finance Radio. The podcast, which has gained popularity, often delves into the topic of saboteurs in both fitness and finance, discussing common pitfalls and strategies for overcoming them.

Jeff and Jennifer are not just business partners; they are also married. They found common ground in their shared passion for helping people and their belief that financial strain and physical health can significantly impact one's personal life. According to Jeff, financial strain is a leading cause of marital issues, while fitness can be a crucial factor in maintaining a healthy, happy relationship.

The couple has spent the past year and a half deep diving into Pilates, training to become master-level Pilates instructors. Jennifer also has plans to expand her wellness practice, perhaps incorporating weeklong wellness retreats or having Jeff Smith create to-go meals for clients based on their dietary needs.

Jeff, meanwhile, plans to eventually hire a junior advisor and continue growing his practice slowly. He believes that by focusing on the basics and providing personalised, comprehensive services, he can help his clients navigate the often confusing world of financial planning.

Together, Jeff and Jennifer are making a difference in the lives of their clients, offering a unique blend of financial and physical health services under one roof. Their journey is a testament to the power of collaboration and the importance of holistic approaches to personal well-being.