“The Power of Self-Directed Retirement Accounts” with Daniel Blue

Our guest today is Daniel Blue, a Forbes contributor, a best-selling author, and owner of a 7-figure business called Quest Education. His company focuses on helping people learn how to make money tax-free, pay off debt, and get capital to grow their businesses.

Show Highlights:

  • While working in real-estate early in his career, Daniel learned about the power of self-directed retirement accounts and how they could allow people to access and direct their own funds for a variety of reasons.
  • Intrigued by the concept, he eventually worked in this unique financial space, helping people to see the benefits of using some of the money in their retirement accounts, penalty, and tax free, to fund their business.
  • A Solo 401K is an IRS approved retirement plan for entrepreneurs that allows you to take out fifty percent of the account value or fifty thousand dollars, whichever number is less. You can then use these funds to build or grow your business. With this approach, you become your own bank, and you pay yourself back principal, plus interest.
  • Solo 401K’s are not for everyone, and you do need to work with a broker to take advantage of this financial product. Make sure you understand the risks to you and your retirement accounts.
  • Today, as owner of Quest Education, Daniel helps people navigate the questions, risks, and opportunities with Solo 401K plans. Go to www.DanielBlue.Me to learn more, as well as access:
    • Free resources
    • Links to his best-selling book “Blueprint to Your Best Retirement”
    • Links to his podcast, “How Winners Win”

For more information about our Guest, Daniel Blue:

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“Money Mindset & Investing Perspectives” with Florian Fritz

“The way you think about money determines how you behave and your behavior shapes who you are and how you interact.” — Florian Fritz

Florian is the founder of the Money Hero Academy, where he teaches how to create financial freedom by  improving:

  • your money mindset
  • money management skills
  • money making skills

By 2008 Florian was a “financial advisor” and during the financial crisis that year, he started learning from some of the world's best financial coaches like Robert Kiyosaki and others how wealth creation really works. He tested many learnings while working with a real estate company, increasing their sales by 86% per year on average and helping hundreds of people to improve their investment returns. Today he teaches what he learned, encouraging everyone to take control of their finances and create the life of their dreams instead of always hoping for the next raise or the next client.

Listen in as Florian shares his thoughts on creating freedom and prosperity.

  • Florian realized that he could inform clients about the problems that were happening but he had no solutions for the problems.
  • It’s interesting that he was over half a million in debt but was teaching about money. He was the perfect example of how and when to begin thinking about your wealth.
  • Florian, in his own story, shows us that you can begin your journey no matter where you are, from zero or negative, and build your wealth.
  • His journey began with free courses on Facebook and has grown to several programs that he runs every week.
  • Thinking about money is better than working hard for it. (take time to think about it)
  • What you associate money with, especially the negative side of money will automatically make your subconscious protect you from money.
  • We’ve been conditioned in a certain way about money. It’s good for one to identify your conditions.
  • In investment, you need to be consistent in what you are buying, no matter the circumstances.
  • An Inverse ETF is one way to “hedge”.

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“A Better/Faster Way to Financial Freedom” with Chris Miles

“Traditional financial advisors counsel us to plow our money into traditional investments, mutual funds, bonds, insurance, stocks, etc. I no longer take that position” — Chris Miles

Chris Miles, the Cash Flow Expert and Anti-Financial Advisor, is a leading authority teaching entrepreneurs and professionals how to get their money working for them TODAY! He’s an author, podcast host of the Money Ripples Podcast, has been featured in US News, CNN Money, Entrepreneurs on Fire, Bigger Pockets, and has a proven reputation with his company, Money Ripples (moneyripples.com/) getting his clients fast, financial results.

Listen in as Chris shares his thoughts on creating freedom and prosperity.

  • I was raised by great parents, hard-working parents who taught good values. When it came to money, they lived with a scarcity mindset, they really felt like there was never enough.
  • Before I finished my bachelor's degree, I decided to actually get real-life experience because I wanted to become a business consultant.
  • My father was my biggest inspiration, and I wanted to make him financially free before he was too old to enjoy it.
  • My father did everything “right”, yet did not have enough money to retire when he reached retirement age.
  • I started to learn the things that others were learning and more about a perspective around money first, which was really like Robert Kiyosaki stuff more applied.
  • I discovered how to invest and create passive income, which was really the trick to get out of the rat race versus just accumulating and saving money, hoarding it, and hoping that someday you might have something.
  • Traditional financial advisors counsel us to plow our money into traditional investments, mutual funds, bonds, insurance, stocks, etc. I no longer take that position.

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“Make Additional Money Painlessly!” with Gordon Stein

“We're using innovative ways to do things that are cheaper than the traditional way that people may not have thought of.” — Gordon Stein

In today’s episode, we are joined by Gordon Stein. Gordon is a personal finance author, keynote speaker, and blogger at cashflowcookbook.com. Gordon, in his book, spells out certain recipes that can lead anyone to a bright financial future. Also in the book, Gordon has identified 60 different recipes for freeing up money. The key point in his book is “you can find money in your lifestyle, without making any sacrifices to your current lifestyle."

Gordon is also very good at demonstrating the impact these strategies can have on an individual's long-term financial goals.

  • I discovered a few hacks that freed up some more cash flow with minimal effort.
  • I’ve had a career transition from high-tech industry to kind of high-touch personal finance.
  • By using innovation and new innovations that are cheaper than the traditional way.
  • Step one is what I call “broiling a bill”. Pick a bill, and broil that bill!
  • Step two is: “Savor the savings”.
  • Discipline is more powerful than budgeting.
  • The more ideas you get on how to free up more cash flow, the more you build wealth.
  • Make those changes, reduce the bills, and then commit that money right away to something good.

Listen to this and so much more on the episode.

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“Trading and Investment Psychology” with Louise Bedford

“All traders and all investors are looking to improve themselves financially, to level up in their mindset, so that we can bring on more money and make it stick because that's the overall aim.” — Louise Bedford

In today’s episode, we welcome Louise Bedford. She is the founder of tradinggame.com, a trading company in Australia. She is a best-selling author with five books to her name, all topics on the stock market and behavioral finance. She is also a behavioral finance expert with degrees in both psychology and business.

Louise talks with me about approaching investment and trading not only from the money perspective but also from a behavioral side as well.

Listen in!

  • I started trading back in 1990 because I always had an interest in money.
  • I had a physical affliction, which meant that I had trouble moving my arms and due to this condition, I had to leave my employment work.
  • All traders and all investors are looking to improve themselves financially, to level up in their mindset, so that we can bring on more money and make it stick because that's the overall aim.
  • Too many people are not happy with market volatility, where the market keeps going crazy up and crazy down and makes for a very unpleasant situation.
  • I like the idea of how investors borrow from traders; this is the concept of a stop loss.
  • You need to work out in advance what your level of pain is, determine what your exit strategy may be, and stick to your plan.
  • Do your math and consider what you wish for your future, have a plan in mind from the start to the exit, and have the three main tenants for the system that people should see in trading.
  • Whether we want to believe it or not, our behavioral and psychological well-being affects how we see investment and trading.
  • In trading, it’s always good to consider specific risks versus individual risks.

To connect with Louise:

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Jon Ostenson – “Consider Franchising to Add an Income Stream to Your Financial Plan”

“When you're a business owner, you're building cash flows as well as an asset in that business that you can sell as long as you run it halfway decent.”  — Jon Ostenson

Jon is CEO of Franbridge Consulting and Capital, a company devoted to serving franchise opportunities, then aligning investors with top-performing opportunities leading some of those investors to be actual operators.

In this episode, Jon is going to help us look at this exciting class of investments.

Listen in!

  • There are 4000 different brands roughly in the US involved in franchising across a number of different industries and sectors.
  • Coming out of COVID, more and more people want that sense of control, flexibility and freedom that comes through business ownership.
  • We do see an unprecedented level of interest out there towards franchising.
  • I just see franchising as really going into business for yourself, but not by yourself because you've got that franchisor on the sideline and other franchisees around the country.
  • While having that is not a guarantee of success, it does give you a lot of confidence going in.
  • A study by Rancor School of Business found franchise businesses trading at a multiple typically of one and a half-time as compared to non-franchise businesses.
  • I tell clients that there's a lot of ways to make money some more desirable and easier than others.
  • To buy into a franchise, you pay a franchise fee and meet costs for the equipment build out.
  • Some of the ways in which people fund their franchise business include self-funding, retirement funds through what is called a Rob's program or through SBA loans.
  • The way I work with clients is I try to streamline the process and make it as easy for them and allow them to focus as well as possible.
  • Franchising isn't risk-free, but you de-risk things a lot.

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“Learn to Invest Like the 1%” With Axel Thibon

“We want to make sure that investing is more approachable and accessible for anyone with the same goal; building wealth for the future.” — Axel Thibon

In today’s episode, we welcome Axel Thibon to the podcast. Axel has founded a company called Wizest, a platform aimed at making investing accessible, transparent, engaging, and easy.

Axel received his MBA at MIT in Boston. And afterwards went into banking for a few years and now is on a journey of investing adventure.

Axel talks with me about his interesting approach to teaching investments as a solution for the long term. 

Listen in!

  • My own experiences have shaped how I do investment and how I teach others to do investment as well.
  • The key thing is to customize investment for each person who comes to the platform.
  • A novice’s investor will have different needs than an expert in investment.
  • Unlike the traditional bank, where you go and they are assigned to you like an advisor that you don't choose, right here in wisest you are the one in control. The best part has been the conversations I've had with the kids about not only saving money, but spending as well.
  • We have a human layer that makes investing much more like personable and approachable.

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“Kids and Money” With Nationally Syndicated Financial Columnist, Chuck Jaffe

“The best part of teaching kids about finances has been the conversations I’ve had with them about their financial decisions.” — Chuck Jaffe

In today’s episode, we welcome Chuck Jaffe to the podcast. Chuck is the author of three books titled ‘Getting Started in Finding a Financial Advisor’, ‘The Right Way to Hire Financial Help’ and ‘Chuck Jaffe’s Lifetime Guide to Mutual Funds.’ His two books on working with financial advisors have made them a rare critical voice in financial planning. Chuck is host of Money Life, a veteran financial journalist, nationally-syndicated financial columnist, and his work appears in newspapers from coast to coast.

Chuck talks with me about his interesting approach to teaching finances and investments to younger children.

Listen in!

  • I am an expert when it comes to hiring financial advisors.
  • The key thing to me which is really important is knowing that there is no one right way to reach your financial goals.
  • I'm agnostic to approach unless the approach is going to hurt people.
  • At home, Halloween is how I teach other people's kids about money choices and investment through games and lotteries.
  • The best part has been the conversations I've had with the kids about not only saving money, but spending as well.
  • Children start learning money lessons really early and I have been teaching my children about trading stocks and ownership of companies.
  • The benefit to me, as a result of this has been my daughter telling me that she is maxing out her 401 K.

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“A Tax Deed Real Estate Investing Primer” with Joseph Griffin (the ‘Tax Deed Wolf’)

“When it comes to investing in real estate, it's not just about buying properties, but also having proper business structures.” - Joseph Griffin

In today’s episode, we welcome Joseph Griffin to the podcast. Joseph is the author of Tax Deed Investing and the owner of a business called Tax Deed Wolf Academy. Joseph teaches how to invest in real estate to generate consistent income with minimal risk.

Joseph talks about how he got into the business of tax deed investing, as well as the steps involved in executing the strategy.

Listen in!

  • I joined the Army while I was in junior in high school, and after graduating I was sent to medic school, and then to nursing school and later joined the National Guard.
  • While I was doing the one weekend, a month, I started nursing on the side and became assistant manager of the ICU and I started making a little money and that's where tax deed investing came in.
  • Tax deed investors buy property from tax deed auctions, which is where properties whose owners have failed to pay property taxes are auctioned.
  • For properties with mortgage, the bank typically forecloses on them and will often not make it to a tax deed auction, since tax deed auctions are for people who own their property outright.
  • The two cons for being a tax deed investor is that you only need cash, and that the properties aren’t always good properties.
  • The first thing to do is figure out which type of state you live in because every state is different with different types of deed strategies which include tax deed, a tax lien deed, and a tax redemption deed.
  • Once you understand which type of state you live in, your first step is you need to find the entity that conducts the sale by going to the county clerk of court website.
  • The tax sale list or tax deed auction lists shows you when the next auctions are, and which properties are available for you to enter the auction on, as well as the money you have to put in to bid.
  • The auctions are typically highest winner takes all, so we use the lists as leads to approach the property owners before the auction, because we don't want to be bidding against other people.
  • The most important thing to know in real estate is that you don't have a deal until something is signed, and to take ample amount of time to do due diligence to the property.
  • Time is important or opt to sign a quitclaim deed, which is how you transfer ownership of one property to another the deed, and doesn't need to be notarized.
  • When it comes to investing in real estate, it's not just about buying properties, but also having proper business structures.
  • We teach our clients on proper business structure, asset protection, and strategic tax filing.
  • We also teach property acquisition where we encourage our clients to have at least three property acquisition strategies.

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“Building Sound Accounting Principles Into Your Life and Business” with Nissa Savage

“The first step to properly setup a business is ensuring that you are legally compliant in your state, and then also finding a CPA that you can trust to ask about taxes.” - Nissa Savage

In today’s episode, we welcome Nissa Savage to the podcast. Nissa is a CPA Mom's franchise owner, and an accountant serving law firms and business owners remotely from Alaska.

Nissa talks to us about her business, the CPA moms franchise, and what entrepreneurs should focus on to ensure that their businesses run smoothly.

Listen in!

  • I arrived in Alaska 10 years ago as a mariner working on the Alaskan ferries.
  • I have an undergraduate degree in economics, and so transitioning that to a Master's of Science in Accounting was fairly straightforward.
  • I have worked in the field of accounting in various capacities starting off as a bookkeeper, and now I'm a CPA and I own my own firm.
  • I have wanted to stick with accounting because it's so phenomenal to see the power of information and how it allows business people to overcome the challenges that they face.
  • I own a firm and I get support from a whole team of people from the CPA mom's franchise, which is a great community of CPAs who are moms.
  • Due to the demands of raising a family, owning my own firm gave me the freedom that I needed, and the franchise helps me actually build out my services to my clients who are also entrepreneurs.
  • The first step to properly setup a business is ensuring that you are legally compliant in your state, and then also finding a CPA that you can trust and ask about taxes.
  • Beyond that, money flow and understanding credit is important, as well as embracing and understanding your bookkeeping system.
  • I find so often that entrepreneurs do their own books, but they do not realize what the books are telling them.
  • It is important to have meaningful reports that are correct as per the monthly reconciliations.
  • Have a business plan extending over a five-year period, with every year mapped out with details on KPIs.
  • Your business plan should be something you can show your CPA, who can collaborate with you on how to read the indicators from your bookkeeping.
  • Entrepreneurs can embrace user-friendly tools such as Live Pan and bill.com, to plan in their businesses.

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