Matt Picheny is the Managing Partner at MJP Property Group. He has invested in over 5,000 apartment units and is primarily focused on acquiring and repositioning multifamily communities. Matt has over 15 years of property analysis, financing, acquisition, construction, and operations experience. He is a licensed real estate agent, a Fannie Mae & Freddie Mac approved buyer and a member of the Forbes Real Estate Council.Today, we're talking about Matt's investments in Broadway shows. He syndicates Broadway shows and brings in passive investors to invest in such shows. He will be giving us a behind the curtains look at how it's done.[00:01 – 04:52] Opening SegmentI talk briefly about great values that await you in this episodeI introduce and welcome our guest, Matt PichenyMatt tells us his background and his journey to reach where he is now today.[04:53 – 14:24] Broadway Show Investing Done RightMatt gives us a peek at how Broadway show investing worksThe investor's role is to fund the preparation for opening nightHigh-risk, high return[14:25 – 22:28] Time Frame and Exit StrategyThe Timeframe for investing in Broadway showsForming your exit strategyLeverage and Debt[22:29 – 28:38] Learning to Invest in BroadwayMatt walks us through what you'll need when investing in BroadwayHow to evaluate these investments from a passive investor's standpointThe 3-Prong Approach to Evaluating DealsEvaluating the creative teamEvaluating the management teamEvaluating the production itself[28:38 – 32:59] Closing SegmentQuick break for our sponsorsWhat is the best investment you've ever made other than your education?We were lucky we invested in Hamilton.What is the worst investment you ever made?If/Then, it didn't do exceptionally well.What is the most important lesson that you've learned in business and investing?It's all about relationships. Building relationships is the most important.Connect with Matt online. See the links below. Tweetable Quotes:"If a show does really well, it can remain in theatre forever." – Matt Picheny"It's not like real estate where at real estate you actually have this tangible asset that you sell at the end. With these shows, it's like they close and then it's over, but hopefully, you've gotten a lot more money during the whole period." – Matt Picheny Connect with Matt on their website https://mjppg.com/ or email him at matt@mjppg.com. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Passive Wealth Strategies for Busy Professionals

Broadway Show Investing Done Right with Matt Picheny

Peter is an accomplished entrepreneur and thought leader. He started and sold Help a Reporter Out (HARO), a service that helps reporters gather information from the public. He hosts the Faster than Normal Podcast, where he discusses the top strategies for success for those with ADD and ADHD – Peter being diagnosed with ADHD himself.Today we are talking about the new normal of working from home and what that means for people with ADD, ADHD, and other neuro-diverse conditions that can make many things a little bit more difficult.[00:01 – 05:53] Opening SegmentI talk briefly about great values that await you in this episodeI introduce and welcome our guest, Peter ShankmanPeter talks about his backgroundAdvocate for the ADD, ADHD community[05:54 – 17:28] How to Get More Done in Your Home OfficeAdjusting to the new normal of working from home, particularly for people with ADD, ADHD, and other neuro-diverse conditions.Self-awarenessTime blockingFind a way that works for you.[17:29 – 21:01] Closing SegmentQuick break for our sponsorsWhat is the best investment you've ever made other than your education?My peloton bikeWhat is the worst investment you ever made?When I sold my company, I put money in several startups. Some lost, some became a success.What is the most important lesson that you've learned in business and investing?Take care of yourself first.Connect with Peter online. See the links below.Tweetable Quotes:"The key is to keep writing these things down and to keep using whatever way does work for you and make sure that they do work. And if you find a way that works, don't change it." – Peter Shankman"It doesn't come down to having to completely sterilize your life. It comes down to doing the things that make the most sense." – Peter Shankman"At the end of the day, just because you have the ability to do something doesn't necessarily mean you should do it right away. Learn first." – Peter Shankman"You are your own longest project. You are your own best investment, and if you are not taking care of yourself first, you will never be able to be as good as you could be..." – Peter Shankman You can connect with Peter on his website. Listen to his podcast, Faster than Normal Podcast. Follow him on all social media platforms @petershankmanLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

How to Get More Done in Your Home Office with Peter Shankman

Russell Gray is co-host of The Real Estate Guys™ Radio Show. An avid student of economics with a diverse background in business, investing, mortgage, and financial services, Russ brings unique and practical insights to help entrepreneurial investors grow and protect their wealth and income through real estate and real asset investing.Join me for this episode as we unpack the realities of how the economy works, how money works, and how the financial systems work. We discussed where real estate is headed and how to prepare for that future.[00:01 – 05:19] Opening SegmentI talk briefly about great values that await you in this episodeI introduce and welcome our guest, Russell GrayRussell tells us about his background[05:20 – 20:50] Preparing for the Economic and Financial FutureRussell talks about the real estate investment mistakes people are making in light of the coronavirusThe biggest mistake is people either play all defense or all offense.The differences between The Economy and The Financial SystemThe trajectory of real estateWhat will be the best asset class to invest in the future?How to prepare for the future of the real estate[20:51 – 29:16] Inflation and DeflationInflation vs. DeflationSupply and demandLeverage[29:17 – 37:22] The Next 20 to 30 YearsWhat's the situation in the US going to be like in 20 to 30 years?Everything that can't continue won't continueThere will be a reset in the financial systemGood investment options[37:22 – 41:45] Closing SegmentQuick break for our sponsorsWhat is the best investment you've ever made other than your education?The best investments are relationships.What is the worst investment you ever made?I got involved in an apartment building. Sold it to investors that didn't know what they were doing. A projected $1 million profit turned to a complete loss.What is the most important lesson that you've learned in business and investing?You have to take 100% responsibility.Connect with Russell online! See the links below. Tweetable Quotes:"Hope is not a strategy, and it's a terrible tactic. You just have to reach out and get the help you need." – Russell Gray"Make sure that you're sober-minded and you're not just seeing sunshine because there are certain good things going on and you're not just seeing doom and gloom because both are present at the same time and you have to prepare for both and take advantage of both at the same time." – Russell Gray"Take it upon yourself to become knowledgeable because the people who are out there trying to tell you what to do, most of them don't know what they're talking about." – Russell Gray Resources Mentioned:The Real Estate Guys Radio Show podcastEquity Happens by Robert Helms and Russell GrayRich Dad Poor Dad by Robert Kiyosaki You can connect with Russell on the Real Estate Guys Radio website. Check out their YouTube Channel. Subscribe to their newsletter at newsletter@realestateguysradio.com. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Preparing for the Economic and Financial Future with Russell Gray

Today’s guest is Kyle Mitchell, a Real Estate Entrepreneur who focuses on Multifamily Syndication and currently has $17MM AUM. He is the Managing Partner and Co-Founder of Limitless Estates, whose vision is to provide A-class living to lower-income housing by putting the residents first and instilling a sense of community while inspiring others to do the same.In this episode, we dive deep into Kyle’s story, strategies, and advice that both passive and active real estate investors can learn from.[00:01 – 04:30] IntroductionI talk briefly about great values that await you in this episodeI introduce the guest, Kyle MitchellKyle gives a bit of background about himselfHis career before real estate investingThe transition to real estate[04:30 – 13:36] Heading into Multifamily Real EstateKyle talks about their first apartment complex dealThey didn’t have any actual multifamily experience heading into the dealThe process of raising the capitalThe strategies and skills he used and learned in the processThings they’ve done differently heading into their second deal[13:37 – 20:43] Going Outside of Your Comfort ZoneExiting a job Kyle’s been in for over a decade to pursue real estateYou’ll never grow if you don’t go out of your comfort zoneKyle shares the important lessons he has learned throughout his journey (both in single-family and multifamily investments)[20:44 – 24:34] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?The 42-unit we got last year in Tucson.What is the worst investment you ever made?Single-family turnkeys in the Chicago marketWhat is the most important lesson that you've learned in business and investing?“It’s all about consistency.”Connect with Kyle online! See the links below.Final thoughts Tweetable Quotes:“You don’t know what you don’t know.” – Kyle Mitchell.“Make sure all your ducks are in a row before you even get the deal. Know who the team’s gonna be, know what you need to close, and if you have never done it before, bring someone on that does have experience so they can walk you through the process.” – Kyle Mitchell.“If you want to separate yourself from others and your competition, it sounds very simple, but the key is consistency. If you do things on a consistent basis, people will start to follow you and believe in you and see that you are serious.” – Kyle Mitchell. You can connect with Kyle on the Limitless Estates website. Listen to their podcast, Passive Income Through Multifamily Real Estate.LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Going Outside of Your Comfort Zone with Kyle Mitchell

Today we are talking about data-driven real estate investing with one of the premier experts in this topic, Neal Bawa, from Multifamily University. You're going to learn what data is important, why data is important, and why data beats gut feel, hunches, and emotions. It is not a matter of being emotionless. It's more of acknowledging dealing with and keeping your emotions out of play and staying data-driven and data-focused.Neal Bawa is a technologist who is universally known in the real estate circles as the Mad Scientist of Multifamily. Besides being one of the most in-demand speakers in commercial real estate, Neal is a data guru, a process freak, and an outsourcing expert.[00:01 – 03:29] Opening SegmentI talk briefly about great values that await you in this episodeI introduce the guest, Neal BawaNeal gives a little bit of background about himselfHad a successful tech careerStumbled upon real estate by accident[03:30 – 13:11] Data-Driven Real Estate InvestingWhat it means to be data-drivenIt's a culture where you manage and measure everything.The Two Mantras of a data-driven companyYou can't manage what you can't measureData beats gut feelHow do you know what pieces of data to look at?[13:12 – 26:19] The Future of Financial SystemsNeal talks about Cap Rates.His projection of the flow of cap rates in the next few yearsHow it will affect real estateMultifamily will receive the biggest blow when cap rates fall.Long term implications of cap rates, interest rates, and other factors on the financial systems"The current financial system at most has 10 years left."[26:20 – 33:19] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?I hired a person to watch the cameras at one of my properties to look at people with pets and follow them to ask if pet rent was mentioned.What is the worst investment you ever made?South Shore, Chicago. I bet on that neighborhood turning around.What is the most important lesson that you've learned in business and investing?Pick your partners carefully.Connect with Neal online! See the links below.Final thoughts Tweetable Quotes:"The truth is that human beings are very unusual in the way that they remember their failures and successes. Some of us only remember our successes – and then there's this other group of people that is probably the majority that only remembers their failures. And if you're not good at remembering both in the right proportion, you can't have a really good gut feel." – Neal Bawa"The lesson I learned that this kind of big projects, sometimes they go, and sometimes they don't. And when they don't, the bet that you made you can't even breakeven." – Neal Bawa"I find that we spend so much time looking at properties. So much time looking at cities but then the people that we work with, we don't invest enough time on that." – Neal Bawa Resources Mentioned:Timothy FerrissTools of Titans by Timothy FerrissCap Rates definitionCap Rate Compression definitionPassive Wealth Strategies Episode with Anna Myers Connect with Neal on LinkedIn, Facebook, and through his websites Multifamily University and Grocapitus. Grab free resources to help you in your multifamily real estate investing. Subscribe to his YouTube Channel to know more. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Why Data Beats Gut Feel, Hunches, and Emotions in Real Estate with Neal Bawa

Dr. Disha Spath is a mother, a wife, and a primary care physician trained in internal medicine. She is also the founder of The Frugal Physician and a freelance writer at CNBC. At The Frugal Physician, Disha helps doctors and other high-income professionals get out of debt and design their ideal life.Today we are talking about frugality, making frugality more accessible, less scary, and why it's important for high-paid professionals. Frugality is critical, especially for those just starting their careers, paying off their student loans, or needs to start building their wealth and investments before focusing on building your lifestyle.[00:01 – 06:33] The Frugal PhysicianI talk briefly about great values that await you in this episodeI introduce the guest, Disha SpathDisha gives a little bit of background about herself[06:34 – 18:11] Making Frugality Less IntimidatingDisha talks about how she makes frugality less intimidating.It starts with a good 'why?'Your frugal doesn't have to be the same as other people's frugal.Be intentionalWhat to do with your savings? (From Disha's perspective)Suppose you could tell yourself something before you finished med school. What would you say, change, or do differently?You need a plan specifically for your student loans.[18:12 – 24:57] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?We bought a house when I was in my residency and used it as a rental.What is the worst investment you ever made?The fact that I did not invest from college until my first job.What is the most important lesson that you've learned in business and investing?Stay the course, and try not to react too much to the situation.Connect with Disha online! See the links below. Tweetable Quotes:"Our frugal does not have to look like other people's frugal because we are blessed with a higher income." – Disha Spath"Basically, our high-income professionals don't have to be that frugal in order to make good progress. And all we have to do is just be a little intentional then we can make tons of progress." – Disha Spath You can connect with Disha at https://www.thefrugalphysician.com/. Follow The Frugal Physician on Facebook, Instagram, and Twitter. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Wipe Out Debt Through Side Hustles with Disha Spath

Success comes down to clarity of thinking and wanting to grow without avoidable mistakes and unnecessary risks. Our guest for today is Cherif Medawar, a hedge fund manager, author, and educator.Today, we're talking about Cherif's exciting, innovative strategy – targeting single-tenant commercial real estate properties. You probably haven't heard of this strategy before. Join us and learn how we can make great returns on leveraging triple net properties![00:01 – 03:26] Opening SegmentI talk briefly about great values that await you in this episodeI introduce and welcome our guest, Cherif MedawarCherif gives a little bit of background about himselfReal estate fund manager[03:27 – 13:33] Make Great Returns on Triple Net PropertyCherif talks about their single-tenant commercial real estate strategyTargeting commercial space that can accommodate one tenant at a timeTriple net leaseOne of the best types of leases you can have for a commercial real estateSharing the step by step formulaOrganizing training Why don't the owners do this themselves?Cherif walks us through the risks involved and how to mitigate them.[13:34 – 17:59] Impact of COVID-19What they're focusing on during this COVID-19 pandemicSingle-tenant, 2nd/3rd generation food placesQSRs are the fastest growing and most active tenantsCherif talks about how COVID-19 has affected their business[18:00 – 21:33] Investor's PerspectiveThe passive investor's aspect of Cherif's strategyWhat's in store for the investorsShares a story when he was just starting his fund[21:33 – 30:29] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?A building that the first and second floor was for retail, and a penthouse on the top floorWhat is the worst investment you ever made?I tried to start my own bank.What is the most important lesson that you've learned in business and investing?You don't only want ethical, hard working people, but you also want them solvent.Connect with Cherif online! See the links below. Tweetable Quotes:"We try to be as careful and as upfront as possible because you never want bad karma in business." – Cherif Medawar"You know wealth is a skill-based on numbers and these are all proportional." – Cherif Medawar Resources Mentioned:Triple Net Lease (NNN Lease)MIGSIFSecured Fixed Income FundCMREIMedawarbank.comwww.KMAGB.comwww.GBACorp.comwww.SFIFund.comwww.CREPR.com You can connect with Cherif on their website http://www.sfifund.com/. Visit his website https://www.cherifmedawar.com/ or subscribe to his YouTube Channel to learn more about himLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

How to Make Great Returns on Triple Net Property with Cherif Medawar

I brought Todd Tresidder in today to impart his knowledge about the expectancy analysis principle. Todd started in the hedge fund business, built up his wealth, and moved on to financial coaching. He was able to retire early and founded financialmentor.com.In today's episode, Todd shares why finding out about the expectancy analysis principle is the single most important lesson he learned in business and investing.Join us, and let's figure out the meaning of expectancy. Just a side note, it's not the expectancy you and I thought![00:01 – 05:02] Opening SegmentI talk briefly about great values that await you in this episodeLet's welcome our guest, Todd TresidderTodd gives a little bit of background about himselfCreated financialmentor.comAuthor of six booksCreated a course for advanced wealth-building strategiesOne of the first financial coaches on the internet[05:03 - 17:29] The Seven Steps to Seven FiguresTodd walks us through the history of his Seven Steps to Seven Figures programThe Expectancy Master Course SeriesExpectancy Wealth PlanningExpectancy InvestingExpectancy LivingThe Seven Steps to Seven FiguresStep 1: Get your financial house togetherStep 2: Building the personal side of your lifeStep 3: Wealth planningStep 4: Take massive action[17:30 – 13:15] Expectancy: The Most Important Investing TopicTodd talks about his definition of 'Expectancy.'The mathematical expectancy, there's a formulaRisk managementThe core of everything Todd teachesIt's a philosophyTodd tells the story of The Blind Men and the Elephant: The Seven Steps to Seven Figures (continued)Step 5: Expectancy investingStep 6: Alternate asset strategiesStep 7: Personal freedomRevamping the Seven Steps to fit as a teachable course[31:16 – 38:00] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?The hedge fund businessWhat is the worst investment you ever made?I bought penny stocks and lost 100% of the investmentWhat is the most important lesson that you've learned in business and investing?"It's the topic of this conversation, which is expectancy analysis."Connect with Todd online! See the links below.  Tweetable Quotes:"There's an infinite number of paths, but the key is you've got to match the path to your specific situation, your skills, your interests in order to succeed." – Todd Tresidder"Expectancy determines the growth rate of the future value equation. Those two equations are the math that determines your financial outcome in life. But it's more than that cause it's a philosophy as you can tell. Once you really break it apart, there's actionable philosophy to implement that math and put it to work for you." – Todd Tresidder You can connect with Todd on his website https://financialmentor.com/ and get free resources the moment you subscribe!LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Expectancy: The Most Important Investing Topic You've Not Heard Of with Todd Tresidder

Prominent investors have lost hundreds of thousands to millions of dollars to common cybersecurity scams and schemes. Today we brought in cybersecurity expert Josiah Mann. In this episode, Josiah walks us through some of the common cybersecurity scams that exist and shares simple tips to help improve your cybersecurity and avoid getting your accounts breached by hackers. [00:01 – 03:45] Opening SegmentI talk briefly about the great value that awaits you in this episodeI introduce and welcome guest, Josiah MannJosiah gives a bit background about himself [03:46 – 19:56] Don't Lose Money from Bad Cybersecurity Josiah talks about Investor Deal RoomSecure online portal for investorsWhy cybersecurity is importantJosiah shares that billions of password combinations are for sale online, and one of them might be yours! Let's learn how to avoid getting our accounts breached by hackers.Here's a simple tip from Josiah to help increase your cybersecurity[19:57 – 27:04] Working With A SponsorIt's important for sponsors to make things easy for their investors.Josiah explains how Investor Deal Room helps in these situationsJosiah talks about the most common cybersecurity scam[27:05 – 33:11] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?"My best investments are all in people."What is the worst investment you ever made?"I think I definitely had some big-time investments without really committing to the long haul for that thing. Just trying to make a quick buck. Anytime I've tried to do that with any investments, it's gone poorly."What is the most important lesson that you've learned in business and investing?I think I've learned a lot about transmutation. Facing challenges in a positive attitude and turning them into opportunities.Connect with Josiah online. See the links below.  Tweetable Quotes: "I hate being a fear mongerer, I hate that idea, but it is. It's like the new frontier of crime is cybercrime. That's in this whole internet industry is a very young industry. The thing about is that it's very easy to take the mentality of well this will never happen to me." – Josiah Mann"By not kind of paying attention to what's going on in the industry and by dragging your feet a little bit. The risk is that you're actually creating more of a risk by doing that than you are serving your investors." – Josiah Mann You can connect with Josiah on LinkedIn. Visit their website https://investordealroom.com/.  LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Don't Lose Money from Bad Cybersecurity with Josiah Mann

Bryce Robertson, "Your Australian Real Estate Mate," is a real estate investing entrepreneur, syndicator, educator, best-selling author, world traveler, and adventurer. Bryce is an Australian native, with over 20 years of experience in large commercial construction projects, real estate, and business.In this episode, we brought in Bryce to talk about mobile home parks. He will be giving us tips and guides on how to evaluate a mobile home park investment. Things you should look for when doing your due diligence in checking out mobile home parks and why mobile home parks are a good investment for both active and passive investors.[00:01 – 07:21] Opening SegmentI talk briefly about the great value that awaits you in this episodeI introduce and welcome guest, Bryce RobertsonBryce gives a background about himself and how his journey to real estate beganBorn and raised in AustraliaDiscovered a formula and used it to expand his mobile home park portfolio[07:22 – 15:33] How to Evaluate Mobile Home Park InvestmentsBryce walks us through their process of evaluating mobile home park syndicationsBryce's criteria for mobile home parksLocated in an affordable housing marketWhat are the alternative options in that market?PopulationA big enough marketAdvantages and disadvantages of different sizes of mobile home parks[15:35 – 26:46] Risk MitigationAssociated risks and how to take action on occupancy problemsPublic vs. Private utilities, what are the mobile home park's responsibilities?Bryce talks about some of the situations they encountered in operations.[26:47 – 32:33] Do Your Due DiligenceBryce walks us through the due diligence needed in operating a mobile home parkFinancial due diligence – make sure the business will workPhysical due diligenceInspect sewer systemsWhat's the condition of the homes?[32:34 – 40:06] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?"I think the best investment was my first mobile home park."What is the worst investment you ever made?"I just can't say that I've actually had a bad investment."What is the most important lesson that you've learned in business and investing?"To take action. I honestly think that that's the most important lesson."Connect with Bryce online. See the links below. Tweetable Quotes:"I had a bad purchase of spending $30,000 on mentoring in the beginning, and none of that worked out at all. But because it didn't work out, it massively drove me to be highly motivated to get that first mobile home park, and that was part of the fire under my butt to get that done." – Bryce Robertson"Nothing is gonna work unless you're taking massive action." – Bryce Robertson"Obviously, if you don't know what you're doing, you need to have someone looking over your shoulder. Otherwise, it's just irresponsible." – Bryce Robertson You can connect with Bryce by sending him an email at bryce@propertyworkzusa.com. Visit their company website http://www.propertyworkzusa.com/. Listen to his podcast, Freedom Hack Radio. Grab a copy of his book, 10,000 Miles to the American Dream on Amazon. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

How to Evaluate Mobile Home Park Investments with Bryce Robertson

Kyle Rudduck is a managing director at the Constellation Wealth Advisors and a fiduciary advisor with particular areas of expertise in constructing tax optimized investment strategies, asset protection, estate organization, and retirement planning.In this episode, we will be talking about the portfolio optimization strategy. How high paid professionals should be thinking about the way they organize their wealth, and the "Bucket Strategy" of wealth distribution optimization and why you would want to allocate your wealth on the right buckets.[00:01 – 03:37] Opening SegmentI talk briefly about the great value that awaits you in this episodeI introduce and welcome guest, Kyle RudduckKyle gives a bit of background about himselfStarted his career in the business evaluation fieldTransitioned to wealth management and financial planning field[03:38 – 13:45] How to Allocate Your Wealth with the Bucket StrategyKyle talks about what money could do for people and how to go about organizing your portfolio.The 3 primary things that money could do for peopleProvides securityProvides for life experiencesAllows us to build and perpetuate a legacyStructuring a framework around needs, wants, and aspirationsThe "needs" bucket – capital that's going to be needed in the next 1 to 2 yearsThe "wants" bucket – for most clients, this is the retirement bucketThe "aspirations" bucket – designed for building a legacy[13:46 – 22:37] What is a Fiduciary?Kyle explains what a is fiduciary and why it's advantageousKyle talks about his book, Perfect ApproachA 9 hole course for financial success beyond the 9 to 5[22:38 – 28:13] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?"I think the best investment I ever made would also be the worst investment I ever made."Investing in stocks of a Chinese company to buy an engagement ringWhat is the most important lesson that you've learned in business and investing?"I think it's the importance of having a process."Connect with Kyle online. See the links below.Tweetable Quotes:"You never want to put yourself in a position of having to make the decision of do I sell my investment at a loss right now to fund this event? Or do I defer my event? You know you want to make sure that you're never put in that position." – Kyle Rudduck"Golf is a very mental sport. You know, no two days are the same, and it requires a lot of mental toughness, and I think the same thing can be said about investing. There's so many things that happen when you're investing that are just out of your control. So how are we going to respond?" – Kyle Rudduck You can connect with Kyle on LinkedIn. Visit their website https://constellation-wealth.com/ for more information. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

How to Allocate Your Wealth with the Bucket Strategy, with Kyle Rudduck

Doc G was an internal medicine physician when he discovered the personal finance community through a book called The White Coat Investor. Since then, he has left clinical practice to pursue his passion for deep conversations about money and life.In today's episode, we discuss the process and psychology required to become financially independent and retire early high-paid professionals. The steps Doc G took to put himself in a financial position where he could retire when he wanted.[00:01 – 09:28] Opening SegmentI talk briefly about the great value that awaits you in this episodeI introduce and welcome guest, Doc GDoc G gives a bit of background about himselfFollowed in his father's footsteps and became a physicianDoc G shares the paradigm-shifting book that he read that help him decide it's time for him to move away from being a physicianThe White Coat Investor by James Dahle[09:29 – 16:40] The Mindset and ProcessDoc G talks about the process of slowly stepping back from his physician careerStruggled with walking away from the identity he builtStarted pulling back from the things he didn't like as a physicianBecame intentional about how he generated income and where his money came fromThroughout his career, he kept getting involved in businesses to fill out the things that being a physician could not fulfill.Quick Ad Break [16:41 – 16:42][16:43 – 24:24] The Landlord DNADoc G talks about his real estate investmentsShares a story about the first property he ownedHis criteria in finding dealsThe role that real estate played in his journeyDoc shares his secret to financial independence[24:25 – 30:27] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than your education?"The more satisfying answer is the house we bought in Wisconsin.""The cheesy answer is my marriage."What is the worst investment you ever made?"My brother decided to work for an insurance company for a while, and he sold me a horrible whole life policy."What is the most important lesson that you've learned in business and investing?"So, what I really learned is that you can't pay other people to think for you. You pay them to advise you."Connect with Doc G online. See the links below. Tweetable Quotes:"I've done all the hard work of building what I needed, but I had no idea how to then take all that power, all that fuel, all that energy I had created and allow it to propel me to that next level of life where maybe I could start letting go of the things I didn't like." – Doc G"Ultimately, what I really want is time, and if I want to have as much time as possible, I'd stop doing the things I don't like and do more of the things I do like, and some of those do take money." – Doc G"When you decide that you have enough, the most important pivot is to go from returns to risk mitigation. Because you really don't need high returns anymore when you have enough. You need enough returns to maintain." – Doc G You can connect with Doc G on http://earnandinvest.com/ and listen to his podcast Earn & Invest. Join the Earn & Invest Facebook Group. Follow Earn & Invest on Twitter and Instagram. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Retiring Early: The Mindset and Process for High Paid Pros with Doc G

Today we are talking about teaching your children financial independence, teaching them how to manage their money, and teaching them about what money means. Our guests today are Doug Nordman and Carol Pittner. A father-daughter team who wrote a book on this topic. Doug Nordman served for 20 years of active duty in the U.S. Navy's submarine force and retired in 2002 at the age of 41. He and his spouse, a retired Navy Reservist, reached financial independence in 1999 on a high savings rate. Carol Pittner joined the Navy on an ROTC scholarship. She and her active-duty spouse are rapidly approaching financial independence on a high savings rate, and they've just started their own family![00:01 – 04:52] Opening SegmentI talk briefly about great values that await you in this episodeLet's welcome our guests, Doug Nordman and Carol PittnerDoug and Carol talk about their background[04:53 – 16:22] Raising a Financially-Savvy FamilyWe talk about their book, Raising Your Money-Savvy Family For Next Generation Financial IndependenceThey discussed their inspiration for the book.Start teaching your kids how to manage money. The earlier you introduce the concept, the better the results.Teach them about taxes when the moment that they need to know about it emerges.[16:23 – 28:53] Raising the Younger GenerationCarol talks about the things she would do differently in raising a child compared to her generationThe younger generation is getting better at writing books about moneyGiving your kids the responsibility of being grown-ups is one way to motivate them to learn about moneyCarol reflects on all the lessons she picked up since she was younger[28:54 – 37:26] Educational SystemSet expectations to your kids that they will be paying for their college (if not all, some of it) to raise awareness and learn how they will manage that.Doug and Carol share some tips and strategies to teach your children[37:27 – 51:33] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made other than in your education?Doug: "Marrying my spouse."Carol: "Having that good investment in my spouse and having that good investment in our marriage."What is the worst investment you ever made?Carol: "Trying to figure out what kind of insurance I need."Doug: "My worst investment is that I'm an angel investor."What is the most important lesson that you've learned in business and investing?Doug: "Business is all about cash flow." The most important lesson to financial independence is a high savings rateCarol: "Just get started." Stop sitting there and thinking about the what-ifs and to actually go and make the what-ifs.Connect with Doug and Carol. See the links below. Tweetable Quotes:"The earlier you start talking about this [managing money]. The more prime do they are to catch on and start doing something with it." – Doug Nordman"The best way to make money is to have a long-time horizon." – Carol Pittner"It's a two-way street when you're talking about money with your kids. It's not only what the parents want to teach the kids, but it's also about the reception of the kids themselves." – Carol Pittner Resources Mentioned:The First National Bank of Dad by David OwenThe Simple Path to Wealth by J.L. CollinsThe Millionaire Next Door by Thomas J. StanleyThe Motley Fool Guide to Investing for Beginners by The Motley FoolYour Money or Your Life by Vicki Robin You can connect with Doug on his website https://the-military-guide.com/. Grab a copy of their book on Amazon.You can connect with Carol on Facebook. Visit her website https://childfire.com/ LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Raising a Financially-Savvy Family with Doug Nordman and Carol Pittner

Jesse Mecham is the founder and CEO of You Need a Budget, a financial education+software company. He also wrote the WSJ Bestselling book by the same name.In today's episode, we dive into his business and the reason behind it. Understanding the importance of your budget, why you need it, and what a budget really means. It doesn't matter whether you are a high-income professional or somebody from the lower end of the income spectrum. We all need a budget.[00:01 – 03:49] Opening SegmentI talk briefly about the great values that await you in this episodeI introduce and welcome guest, Jesse MechamJesse gives a bit of background about himself and his companyStarted You Need a Budget while he was still in college[03:50 – 13:49] Teaching People to Think About Money DifferentlyJesse explains what he means by "teaching people to think about money differently."Give every dollar a job – this is where a "tradeoff" comes inEmbrace your true expensesHere's advice from Jesse that will help you in your financial decisionsMake sure that your spending lines up with what you loveBe comfortable with saying, "that's not within my budget."[13:50 – 19:33] You Need A BudgetJesse talks about his business; You Need A BudgetJoin their online workshopsGrab a free 34-day trial of their AppWhat makes YNAB different from the other similar apps.Quick Ad breakThink bigger, more structural, and scarier[19:34 – 28:00] The Scarcity MindsetJesse weighs in on the scarcity mindsetManaging your finances correctlyDon't be afraid of making a decision based solely on how much is in your bank accountSqueeze out your prioritiesJesse talks about his real estate investments[28:01 – 35:05] Closing SegmentQuick word from our sponsorsWhat is the best investment you've ever made?"The best investment I've ever made is in my relationship with my wife."What is the worst investment you ever made?"I hired the wrong guy to build our project."What is the most important lesson that you've learned in business and investing?"Risks are not as big as we sometimes make them appear.""I think a really good pace for growth is the pace with which profits come in."Final words from Jesse and me Tweetable Quotes:"It's not about spending less; it's about spending guiltlessly." – Jesse Mecham"The scarcity mindset is not about saying you can't do this. It's saying, here are the things you want to do, what is most important for your business? And flushing out the strategy that that money should be following." – Jesse Mecham You can connect with Jesse on their website, https://www.youneedabudget.com/.LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Teaching People to Think About Money Differently with Jesse Mecham

Fritz Gilbert retired in June 2018 after more than three decades in Corporate America, where he progressed through various levels in a multinational corporation serving the global aluminum industry. His award-winning blog, The Retirement Manifesto, is focused on “Helping People Achieve a Great Retirement.”In this episode, we are talking about retirement but not just about the numbers and financial aspects. We are talking about how to stay fulfilled in retirement, how to retire, how to get ready to retire, how to know you’re ready to retire, or maybe you shouldn’t retire at all—and being mentally prepared with your lifestyle to retire.[00:01 – 04:36] Opening SegmentI talk briefly about great value that awaits you in this episodeLet’s welcome our guest, Fritz GilbertQuick plug to Fritz’s book, Keys to a Successful RetirementFritz gives a bit of background about himselfFritz shares about his book[04:37 – 08:53] Staying Fulfilled in RetirementFritz shares about obsessing over what retirement would be likeFrits gives powerful advice on how you can stay fulfilled in your retirementRetirement is going to be different for everyoneIt’s not something that you know what it feels like until you experience itExperiment on things that you are interested in[08:54 – 16:45] Preparing for RetirementFritz talks about how you can know you are ready to retireIf you haven’t taken the time to think about the non-financial aspect of retirement, you are not yet ready to retireIt’s an instinctual thing. You’ll know when you are ready to retireFritz gives us a glimpse of his preparation for his retirementSimulating what retirement would look like over and over againQuick Ad Break[16:48 – 21:17] Digging Yourself Out of the HoleFritz talks about people retiring at an old age with very little savingsIt’s never too late to startFritz talks about the FIRE movement (Financial Independence, Retire Early)Find a way to increase your income without increasing your expenses[21:18 – 28:56] Side HustlingWhat keeps you motivated, and what does it feel like having a “side hustle” in your retirement?Get to the point where you don’t need a side hustle before pulling the plugFind a side hustle that brings you value beyond the monetary aspectI share a story about my grandfatherRetired in his 60’s and continued living and working at his farmFritz talks about his 10-day retirement trial[28:57 – 35:42] Closing SegmentQuick word from our sponsorsWhat is the best investment you’ve ever made other than your education?Becoming a passionate personal finance “hobbyist.”What is the worst investment you ever made?Fritz shares a story of why you shouldn’t invest in individual stocks.What is the most important lesson that you’ve learned in business and investing?“Enjoy the moment while being responsible for the future.”“Be intentional in striving to have balance in your life.”Final words from Fritz and me Tweetable Quotes:“Don’t spend your whole time thinking about tomorrow. Enjoy your today but be responsible in saving for your tomorrow.” – Fritz Gilbert“Retirement is kind of one of those big milestone changes in your life that you can’t anticipate what it’s gonna be like until you actually go through it. And I would say finding fulfillment in retirement is kind of the same thing.” – Fritz Gilbert“Don’t get so obsessed with work. Don’t get so obsessed with saving money. Don’t get so obsessed on anything. Really seek balance, life’s a lot better that way.” – Fritz Gilbert You can connect with Fritz on Facebook, Twitter, and Instagram. Visit his website https://www.theretirementmanifesto.com/ LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Preparing for Retirement and Staying Fulfilled with Fritz Gilbert

We will teach you how to build your passive income without buying yourself a second job. We focus on real estate and creative strategies to build passive streams of income.

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Passive Wealth Strategies for Busy Professionals

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