Not Your Average Financial Podcast™

Think different about your money, your economy and your future. Be curious. Be stable. Be sane.

Episode 369: Money, Emotional Intelligence and Mr. Rogers with CFO David Richter

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In this episode, we ask:

  • Do you remember Mr. Roger’s lessons?
  • How might the Profit First system work with real estate investing?
  • Who is David Richter?
  • What about great role models?
  • What about emotional intelligence?
  • What is key for business owners?
  • When did David’s first deal happen?
  • What happened to that company?
  • What happened when David moved across the country?
  • What about make, spend and keep?
  • What is a fractional CFO company?
  • Would you like to hear Amanda Neely on Episode 165?
  • Have you played the cash flow game?
  • Who is living deal-to-deal?
  • What about paying yourself first?
  • What is Profit First in a real estate investing context?
  • What is the biggest challenge for real estate investors when it comes to making a profit?
  • What about the culture’s drive for more, more, more?
  • What about making money and keeping it?
  • What game are you playing?
  • How do Bank on Yourself® type whole life insurance policies take it a step deeper?
  • What are some examples of quarterly and annual accounts?
  • What fits right in?
  • What turbo-charges Profit First?
  • What about the legacy play?
  • What about saving?
  • What can business owners do to start?
  • Do you have a handle on your cash?
  • What about the Profit First cheat sheet?
  • Can you learn to keep it?
  • How does following simple systems change everything?
  • Would you like to visit simplecfo.com/gift ?
  • What are the takeaways?

David Richter is an active real estate investor who has been essential in closing over 850 deals over the last 10 years. He has experience with wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and other exit strategies.

David has helped real estate companies completely turn around from going out of business to building cash reserves by using the Profit First cash flow system. He has been featured on Biggerpockets, Real Estate Disruptors with Steve Trang, and many other podcasts, shows, and stages.

David authored Profit First for Real Estate Investing – a derivative of the original Profit First by Mike Michalowicz, tailored specifically to Real Estate Investors. His goal is to completely transform the Real Estate Investing industry by helping real estate investors make and KEEP more money in their businesses. As the founder and owner of SimpleCFO Solutions, he wants to bring investors true financial clarity and freedom and help every investor stop living deal to deal.

Episode 368: A Better Way to Profit First with Mike Michalowicz

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In this episode, we ask:

  • Have you ever wished you were just average?
  • Are you a business owner?
  • Why do some business owners thrive and others merely survive?
  • What if it were easy to become profitable?
  • Who is Mike Michalowicz?
  • What is the commercial that changed Mike’s life direction?
  • What happened when Mike was in overwhelming debt?
  • What is Parkinson’s law?
  • What about doing fewer things, better and faster than ever?
  • What about making the (scary) choice to take profit first?
  • What did Mike realize?
  • What about cost cutting?
  • What about growth?
  • How did Mike flip the (Sales-Expenses=Profits) formula to (Sales-Profit=Expenses)?
  • Would you like to hear Episode 165?
  • How might one implement Profit First?
  • What is a behavioral intercept?
  • How might we set up a system to drive the results we want?
  • What are the core elements?
  • What is the vault?
  • What about blending the Bank on Yourself® strategy and Profit First?
  • What are the pitfalls?
  • What about Occam’s razor?
  • What about leveraging your natural tendencies?
  • What are Mike’s four healthy habits?
  • Did you know that Brandon Neely and Amanda Neely are Certified Profit First Professionals?
  • What is a Certified Profit First Professional? Would you like to visit profitfirstprofessionals.com?
  • What about Mike’s latest book, All In?
  • What do your clients want more than anything else?
  • What are the takeaways?
  • Which one of these actions will you take this week?
Mike Michalowicz is an investor, active partner in multiple companies and a prolific author. His bestselling book, Profit First, has sold more than one million copies.

Mike is a former small business columnist for The Wall Street Journal, and he launched three multi-million dollar companies before his 35th birthday.

If you enjoyed reading Profit First, you may also enjoy his other books, including All In, The Pumpkin Plan, Clockwork, Fix This Next, Get Different, My Money Bunnies, Surge and The Toilet Paper Entrepreneur. 

Episode 366: From Mowing Lawns to Mastering Money with Dave Bonnemort

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In this episode, we ask:

  • Does X mark the spot?
  • Who is Dave Bonnemort?
  • How did Dave get his start?
  • How many policies does Dave and his family own?
  • What is the E.S.I. framework?
  • What about earning?
  • What about saving?
  • What about interest?
  • What about banking?
  • Who is good at at least two of the three?
  • What about investing in yourself and your health?
  • What about education?
  • How might we bring value to others?
  • What have you done to help keep up with inflation?
  • What is the difference between saving and investing?
  • Is a 401(k) saving or investing?
  • What about the book Becoming Your Own Banker by Nelson Nash?
  • What about keeping your debts low?
  • What did Charlie Munger say?
  • What about Willie Sutton’s law?
  • What about the changing rules?
  • Have you looked at the history of taxes?
  • Where are the big payouts?
  • What about risk?
  • What about the likelihood of loss vs. the likelihood of winning?
  • What about volatility?
  • What about saving and building capital?
  • What about being broke as a joke?
  • How did Dave 10x some of his money?
  • Who knows better (what to do with your money)?
  • What about banking, rate and volume?
  • What are the two businesses?
  • How about patience and hard work?
  • What about the mindset?
  • What are the ugly, painful, grinding years?
  • What about the capitalization phase?
  • How is this like starting a tree farm?
  • What about the loan phase?
  • How much money do you bring in every month?
  • What dollar amount do you bring in as loans?
  • What if you were paying yourself back (for loans) and recapturing that interest instead?
  • Would you like to hear Part 2 with Dave next week?
  • What are the takeaways?
  • What about the need to have accessible, liquid capital?

Dave Bonnemort is a current client and active practitioner of the Becoming Your Own Banker concept, as well as a husband to an amazing wife and father to three incredible kids.

He makes his living as a small business owner, is a student of Austrian economics, and a personal finance junkie.

 

Episode 357: Mastering Your Financial Future – Strategies for Wealth Building with Grant Thompson

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In this episode, we ask:

  • What if…?
  • What if you could be the master of your financial domain?
  • Who is Grant Thompson?
  • Would you like to hear Episode 208?
  • When was Grant’s “aha” moment?
  • What really works with money?
  • What is the right thing?
  • What is the truth?
  • What should we be doing?
  • What do you want?
  • How about a story?
  • What will be your exit plan?
  • What did Nelson Nash say?
  • Is it true or false?
  • Can they prove it?
  • What about shame?
  • What about social media?
  • What was Nelson like?
  • Would you like to hear Episode 95?
  • Would you like to hear Episode 96?
  • What about the Austrian economists?
  • What about teaching the process of the banking function?
  • Have you read the Creature from Jekyll Island book?
  • What about getting to 10%?
  • What economic system works?
  • What systems don’t work?
  • What do you have to wait for?
  • Who can opt out of the banking system?
  • What would change?
  • How would credit card companies be impacted?
  • How would marriages be impacted?
  • How would student loan companies be impacted?
  • What about creating your own private financial system?
  • What about tax efficiency?
  • What about safety?
  • What about growth?
  • What are the other benefits?
  • What about taking care of your family?
  • What about taking care of charities?
  • What about the rate of return?
  • What is the amount of money going out the door?
  • Who is making a ton of money?
  • What are the four places money can go?
  • How much income is going to debt?
  • Can you cut your spending by 10%?
  • How much money are you hanging on to?
  • Who has the most money?
  • What about control?
  • What will stabilize everything?
  • What about passive income?
  • How do you want it?
  • What are we missing?
  • What about rethinking thinking?
  • What about Ted Benna, the father of the 401(k)?
  • What about key executives?
  • What about employee benefit plans?
  • Who else is doing this?
  • What is the truth? What is real?
  • How about success?
  • Are people happier with guaranteed lifetime income?
  • Who are you listening to?
  • What is the best thing to do?
  • What about greed and fear?
  • Who are the right people to help you do it right?
  • What about taking some time to investigate it?
  • What did Thomas Edison say?
  • What about truth being dressed in overalls and looking like work?
  • Is it easier to believe the lie?
  • Would you like to visit thompsonthurman.com?
  • Would you like to call Thompson & Thurman at 806-352-3480?
  • What are the takeaways and action items?

Grant Thompson works with families and their businesses nationwide. The Thompson & Thurman Agency works with families who share in their vision and want to become financially set for life without taking unnecessary risks. With so much misinformation in our financial world today, families really need guidance and direction to find the true path to financial freedom. Grant, Chris and their team of trusted advisers nationwide have are leading the way to meet that challenge. Grant is married to his wife Kathy and they have 2 sons Blair and Blane along with his wife Brittany. Grant enjoys spending his spare time with his family at reining and cow horse competitions plus trying to squeeze in a shooting competition every now and then with his sons. thompsonthurman.com

Episode 355: The Ultimate 401(k) Upgrade – Tax-Free Income and Market Protection

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In this episode, we ask:

  • What is finite?
  • How do we solve that problem?
  • What can be converted into a lifetime stream of income?
  • Is there a stream of income that you cannot outlive?
  • Would you like to hear Episode 354?
  • How can you get through your retirement without coughing up a third of your income into taxes and fees?
  • What about the allegory of the cave?
  • What about the fear of change?
  • Who has a 401(k)?
  • Did you know…?
  • What could take about half of your life savings away?
  • Are you one of the lucky ones?
  • Would you like to hear Episode 79?
  • How much would one have after taxes and fees?
  • How much could one take per month?
  • What about another way?
  • What if one could spread it out slowly?
  • What happens in systematic withdrawal?
  • What are some possibilities?
  • Who would like to preserve the wealth?
  • How about an example?
  • What about annuities?
  • What about fun?
  • What would you rather have?
  • Would you like to meet with Mark?

Episode 349: The Heirs or The IRS?

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In this episode, we ask:

  • What annual day did Americans just survive?
  • Where do you pay tax?
  • Who pays the most in lifetime taxes?
  • Who pays the least?
  • What about your heirs?
  • Do you want theirs or your heirs to get the money?
  • What is legally required?
  • Would you like to hear Episode 199?
  • What are the steps?
  • What about income tax?
  • What about assets that force an income?
  • What about assets you can borrow against?
  • What about collateral?
  • What about the tax to your heirs?
  • Is this only for the ultra-wealthy?
  • What are some ideas?
  • What happens when the laws change?
  • What about BITA?
  • What about taxing the rich?
  • How does this affect the middle class and less wealthy?
  • What about estate tax?
  • What about interest rates?
  • What about a mindset shift?
  • Are there capital gains on life insurance?
  • What are the problems?
  • What is guaranteed to grow?
  • What is not guaranteed to grow?
  • What happens if you find yourself underwater?
  • What about liquidity?
  • What about compounding?
  • What assets compound?
  • How about an example?
  • What about the power of compounding growth?
  • What are the opportunities?
  • Is everyone going to be able to save enough money?
  • What about saving a modest amount?
  • What are billionaires doing with their stocks and real estate?
  • What are the quick takeaways?
  • What are the strategies?
  • What about the risks with common strategies?
  • What about whole life insurance?
  • What about reducing your tax burden now?
  • What about a Bank on Yourself® type whole life insurance policy?
  • Would you like to visit notyouraverage.mn.co?

Episode 336: [Periodic Table of Abundance] No.7 Financial Independence and the Magic of Collateralization

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In this episode, we ask:

  • Would you like to get the special report on the Periodic Table of Abundance? Would you like to Request a Meeting?
  • Have you listened to the previous episodes in this series?
    • Would you like to hear Episode 330: No.1 Scaling Up and Overcoming Adversity?
    • Would you like to hear Episode 331: No.2 Money Team, Family Finance and Estate Planning?
    • Would you like to hear Episode 332: No.3 Liquidity and Cash Flow?
    • Would you like to hear Episode 333: No.4 Secrets of Leverage with Insurance and Banking?
    • Would you like to hear Episode 334: No.5 Achieve Your Ultimate Potential with Investing and Real Estate
    • Would you like to hear Episode 335: No.6 Building a Better World Through Business Ownership, Tax Strategy and Giving
  • What is financial independence?
  • Would you like to learn about financial independence?
  • Would you like to learn about the power of financial collateralization?
  • Do you have enough passive income to cover your expenses?
  • Do you have to depend on your active income?
  • Do you have streams of income to replace your day job?
  • What are your expenses?
  • What are the stages?
  • Do you have an emergency?
  • Why did we choose one year for an emergency?
  • What about placing your emergency fund in a Bank On Yourself® type whole life insurance policy?
  • What about passive income exceeding earned income?
  • Would you like to run the financial independence calculator with Mark or a colleague?
  • What would it take to cover a luxury item?
  • What about changing the world through philanthropy?
  • What about the journey?
  • What about Odysseus?
  • What about freedom?
  • What did Nietzsche say?
  • What about Frodo?
  • What about Iron Man?
  • What about Luke?
  • What are most financial advisors up to?
  • What do you want?
  • What are the five mile posts?
  • What is basecamp?
  • What about reducing your expenses or increasing your income?
  • Would you like to hear Episode 19?
  • Would you like to hear Episode 63?
  • What does Parkinson’s law of finance say?
  • What about being honest with money?
  • What about investing in yourself?
  • What about your education?
  • What about your health?
  • Are you a better version of yourself?
  • Do you have an idea of what you will be doing?
  • How do you expect to be in a different place a year from now?
    • What is the greatest challenge you’re facing right now?
    • What have you tried in the past?
    • What are you going to do next?
    • …By when?
  • What about liquidity?
  • What will you do in an emergency?
  • Do you budget?
  • Do you save in liquid form?
  • Who has a financially unstable pyramid?
  • Who is putting all of their money at risk?
  • Is your money liquid?
  • Is your money available to you?
  • Who does this benefit?
  • Could you cover an emergency expense of $400?
  • Do you need to sell your stuff?
  • Why not build a stable financial structure?
  • What did Tim Austin say about the 10/10/10 rule?
  • Who is saving 30% of income each month?
  • Now that I’m saving, where do I save it?
  • Is your money stashed in the right place?
  • What about CDs?
  • What is taxable?
  • What are you really earning after taxes?
  • What about interest rates on (multi-year guaranteed annuities) MYGAs?
  • What about Bank on Yourself® type whole life insurance policies?
  • What about the power of collateralization?
  • What about cash value?
  • Would you like to hear Episode 32?
  • What about investing in things you understand and control?
  • What do you need to quit?
  • Do you need a rental property?
  • Do you need to borrow against your life insurance policy?
  • What can you control?
  • What are you into?
  • Where can you put your money to work?
  • How might you create multiple streams of passive income?
  • How might you buy multiple streams of passive income?
  • What could you do to add one more stream?
  • Can you outspend any income?
  • What about mentoring?
  • Are you the guide?
  • What do you have to share with the world?
  • How are you writing your story?
  • How many pages do you have left?
  • Would you like to like to meet with Mark?

Episode 334: [The Periodic Table of Abundance] No.5 Achieve Your Ultimate Potential with Investing and Real Estate

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In this episode, we ask:

  • Can you take the next steps toward improvement?
  • What about real estate?
  • What is the Periodic Table of Abundance?
  • What about cash flow?
  • What about business strategies?
  • What about charity?
  • What number, on a scale of 1-10, would you give yourself for …?
    • How are rating yourself on Liquidity?
    • How are you rating yourself on Family Finance?
  • Have you listened to the previous episodes in this series?
    • Would you like to hear Episode 330: No.1 Scaling Up and Overcoming Adversity?
    • Would you like to hear Episode 331: No.2 Money Team, Family Finance and Estate Planning?
    • Would you like to hear Episode 332: No.3 Liquidity and Cash Flow?
    • Would you like to hear Episode 333: No.4 Secrets of Leverage with Insurance and Banking?
  • What happens when you mix different elements?
  • Would you like to hear Episode 283 and/or Episode 284 to learn how to fire your real estate banker?
  • How can real estate be classified?
  • What is the median net worth of homeowners?
  • What about renters?
  • What are the advantages to real estate investment?
  • What about passive income?
  • What are some different ways to get income from real estate?
  • What about cash flow?
  • Would you like to hear Episode 332?
  • What is buy and hold?
  • What are the drawbacks of real estate?
  • What are the different ways to invest in real estate?
  • What about tax?
  • What about Bank on Yourself® type whole life insurance policies in conjunction with real estate?
  • What about alternative investments?
  • What about the potential for advanced returns?
  • What about terrible loss?
  • What mistakes are most Americans making?
  • What causes unnecessary worry?
  • Who is burying their head in the sand?
  • Can you make it without investing?
  • What about private equity funds?
  • What is already overpriced?
  • What about hedge funds?
  • What about commodities?
  • What about collectables?
  • What about cryptocurrencies?
  • Who made money in the gold rush?
  • What about investments?
  • What about ATM or vending machines?
  • What about storage units?
  • What about billboard space or advertising space?
  • What about laundry mats?
  • What about car washes?
  • What about solar farms?
  • What about wind farms?
  • What about cell towers?
  • What about parking lots?
  • What about digital real estate?
  • What about media?
  • What about entertainment?
  • Who lost everything?
  • Do you get to do it?
  • Do you have to do it?
  • What does investing require?
  • What about creating more value?
  • What are three more elements?

Episode 332: [The Periodic Table of Abundance] No.3 Liquidity and Cash Flow

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In this episode, we ask:

  • Who is on your money team?
  • Who should care about your money?
  • What strategies, skills and systems do you need to be successful?
  • Are you on the right track?
  • What is liquidity?
  • How fast can you turn that asset into cash?
  • What is the most liquid asset of all?
  • What about less liquid assets?
  • What are the costs?
  • What is the medium of all transactions?
  • What about an example?
  • Are rare baseball cards liquid?
  • What makes every transaction easier?
  • What about land?
  • What about leasing?
  • What about cash flow vs. a lump sum?
  • What about the cost?
  • How stable is the market?
  • What about comps?
  • What about dealing in transparent markets?
  • What about ease?
  • Is your portfolio locked up?
  • What is assets / liabilities?
  • What is the current ratio?
  • What counts as an asset?
  • Can it be converted to cash within a month or two?
  • How liquid are you?
  • Who is sitting on more cash?
  • Who gets to take advantage of opportunities?
  • What assets are considered liquid?
  • What about the liquidity of cash value whole life insurance?
  • Who understands liquidity?
  • Would you like to hear Episode 248?
  • Are you able to take advantage of opportunities when they come your way?
  • What about cash flow?
  • What about coffee?
  • What is the amount of net cash transferring into and out of your life?
  • Is the money coming in greater than they money going out of your life?
  • What about the tax filter?
  • What about consumption?
  • What are the levers to pull to change cash flow?
  • How about increasing the income or reducing expenses?
  • What are some ideas for increasing cash flow?
  • Would you like to hear Episode 81?
  • Would you like to hear Episode 176?
  • Would you like to hear Episode 213?
  • What are some ideas to reduce expenses?
  • What can solve the problems of cash flow well?
  • Would you like to meet?

The topics presented in this podcast are general information only and not for the purposes of providing legal, accounting or investment advice. On such matters, please consult a professional who knows your specific situation.

 

Episode 319: The Genius of Business Franchising with Marty Greenbaum

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In this episode, we ask:

  • Who works as a W-2?
  • Who wants control over their own business?
  • What are the benefits of franchising?
  • Who is Marty Greenbaum?
  • How about a case study?
  • What about junk?
  • Who needs experience first?
  • How about regional territories?
  • What’s good about franchising?
  • Who works with Marty?
  • Where did Marty’s passion come from?
  • How many franchises are there in the U.S.?
  • Is this applicable to your business?
  • Who is in the business of royalty collection?
  • What about a vested interest?
  • What are the advantages to a franchise business model?
  • Who are the right kinds of people for franchising?
  • What about an example?
  • What are the attributes of the top performers?
  • Who is a good candidate?
  • Who gets awarded a good franchise?
  • What are the mistakes or pitfalls to avoid in franchise purchasing?
  • What about the legal standpoint?
  • What about the due diligence?
  • How is the territory determined?
  • What about speaking with existing owners?
  • What about mitigating risks?
  • What about franchise financing?
  • What about range?
  • How long does it take to get cash flow positive?
  • Are banks the final resting place for many businesses?
  • How does Marty get paid?
  • Would you like to visit smartfranchiseinvesting.com?
  • What about industries?
  • What about brands?
  • What about thorough due diligence?
  • What are the right questions?
  • How are you going to buy this thing?
  • What about Bank on Yourself® type whole life insurance?

Marty Greenbaum is a top franchise consultant with over 30 years of experience in franchising. He served his family’s franchise opening hundreds of locations and then grew an extremely successful marketing agency in franchising helping brands achieve their goals. He’s a Certified Franchise Executive and Founder of Smart Franchise Investing and is dedicated to helping people make smart decisions when it comes to franchise ownership. He’s helped hundreds of people explore franchise ownership, serving them as a franchise consultant, educator, and matchmaker. Email Marty at marty@smartfranchiseinvesting.com