The Good Financial Cents Podcast | Investing, Building Wealth, Financial Freedom

The Good Financial Cents Podcast | Investing, Building Wealth, Financial Freedom

www.goodfinancialcents.com
Making Cents of Your Financial Life
7 Money Lessons I Would Give to My 20-Year-Old Self
Jan 11
In present day I’m a successful financial advisor and entrepreneur. Based on some of the boneheaded money decisions I made in my 20’s it is a miracle I can even say that. I’ve definitely learned from many of those mistakes, but if I had the chance to hop…
5 Money Hacks that Have Saved Me Over $4.1 Million Dollars
Dec 22, 2017
When it comes to getting ahead financially, finding a way to boost your income can be especially powerful. With more cash at your disposal, you can save more, invest more, and grow wealth on a grander scale. Sounds awesome, right? But, what about saving…
The Automatic Millionaire with New York Times Best Selling Author David Bach
Dec 5, 2017 • 34 min
Earlier this year, I had the pleasure of sitting down with financial expert and author David Bach. You probably know David from his amazing personal finance books, which include The Automatic Millionaire, Start Late, Finish Rich, and Smart Couples Finish…
How I Showed a 16-Year-Old How to Turn $500 Into $520,367
Nov 14, 2017 • 21 min
We’ve all had those fantasies of getting into a DeLorean and going back in time. We think about all the little changes that we’d make in our lives. If you’re like me and have invested in the brain, then maybe you wish you would have gone back in time and…
How I Earn 7 Multiple Streams of Income
Oct 10, 2017 • 27 min
Entrepreneurship isn’t easy, and income streams dry up all the time. That’s why it’s important to have multiple sources of income. But while that sounds great, it can be hard to actually accomplish. My hope is that by sharing my journey, it can help you,…
GFC 098: 6 Important Steps to Take Before You Retire
Jul 26, 2017 • 23 min
Retirement rarely happens by accident. For most people, finally leaving work for good is the result of a slow climb – a climb where specific moves are made to ensure financial resources are sufficient – and tucked away somewhere safe. If you’re on the…
GFC 097: The Magical Penny That Grows to Over $10 Million Dollars in 31 Days
Jul 10, 2017 • 16 min
Imagine you’re the recipient of an amazing windfall. The catch is, you get to decide how your “winnings” are paid out. For the purpose of this experiment, you can choose from $2,000 cash money or a “magical penny” that doubles in value for 31 days…
GFC 094: Net Unrealized Appreciation Rules
May 21, 2017
I’ll never forget the conference call I had with a client who was getting ready to retire from the company she had worked for 20 plus years. She had saved as much as life had allowed her to and most was invested in the stock of the company which employed…
GFC 093: Do A Retirement Dress Rehearsal Now So You Don’t Blow It Later
May 15, 2017
It’s fine to crunch numbers as a starting point for deciding how much retirement income you’ll need – and therefore the retirement savings you’ll need to produce it. But that’s just the first step. Projecting yourself now into living on that retirement…
GFC 091: Dave Ramsey Might Think I’m Crazy. Here’s Why:
Apr 29, 2017
When I first read, Total Money Makeover, back in 2003, I was excited to find another personal finance expert that shared my recommendations regarding saving for retirement. One of Dave’s core tips regarding investing is, Get your free money first with…
GFC 090: Required Minimum Distribution Rules For IRA and 401k’s
Apr 21, 2017 • 38 min
Remember the first day you put money into your retirement account? You have seen your retirement account grow over the years and you have been blessed because you have never had to tap into it. Now the grand-kids are your new focus and you have decided to…
GFC 089: Stop Freakin’ Being Lazy About Money!
Apr 10, 2017 • 22 min
Okay, sure. There have been times in my life I could consider myself lazy. You know. Like the time I almost gave up on college because of a $75 parking ticket. But when I came across this article in the New York Post which shares some of the reasons why…
Betterment Review: Make Investing Automatic
Apr 5, 2017
Our expert and honest review of Betterment Investing, a robo-advisor that tailors your investments automatically based on your goals and risk preferences.
GFC 088: 3 Lifestyle Decisions Everyone Should Make Before Retirement
Mar 28, 2017 • 22 min
By investing heavily in your work-sponsored 401(k) account, adding to your savings with an IRA and/or brokerage account, minimizing debt, and watching your pennies all along, you can set yourself up for retirement success.
GFC 087: My Secret Weapon Behind My Blog Revenue Growing by 6x in 2 Years
Mar 23, 2017 • 33 min
When I finally discovered you can actually make money blogging, I was blown away. While the journey hasn’t always been easy, it has been a ton of fun.
GFC 086: 3 Reasons Why You Should Never Buy an Annuity and ….
Mar 6, 2017 • 63 min
Annuities are by far the most oversold and misrepresented investment product that exists. In this podcast, we discuss 3 scenarios where they don’t make sense, and 3 where they do.
GFC 085: 7 Student Loan Dangers to Watch Out For
Feb 24, 2017 • 36 min
Americans owed astronomical sums on their student loans in early 2017. Unfortunately, even while paying down your student loan debt, there are common pitfalls you should avoid.
GFC 084: The Number One Mistake That You’re Making About Your Life Insurance Policy
Feb 15, 2017 • 38 min
Do you have life insurance? Life insurance is an important part of any financial plan, as it provides needed funds should your spouse pass away. It’s tough to think about, but imagine if your spouse were to suddenly perish in an accident. Say they were…
GFC 083: I Have $1.5 Million In Cash – What Should I Do?
Feb 8, 2017 • 39 min
You just sold a piece of real estate, and reaped a seven figure windfall; good “problem”, right? But how do you invest that kind of money in a way that will make it last for the rest of your life? That’s the question that a recent reader posed: “I have…
GFC 082: Why We Told a Millionaire They Couldn’t Retire Twice
Jan 23, 2017 • 26 min
Congratulations! You finally reached it, millionaire status. For many retirees reaching the point where you have over $1 million of investments is quite an accomplishment. Many people work decades saving and scraping along the way and don’t reach this…
GFC 081: How I Earn 7 Multiple Streams of Income
Jan 16, 2017 • 27 min
If you read many stories about entrepreneurship, you’ve probably noticed that most entrepreneurs have multiple streams of income. Mostly by design, business owners go to great lengths to make sure they have money coming in from all directions – or, as…
GFC 079: 5 Money Questions that Can Save You from a Lifetime of Denial
Jan 4, 2017 • 38 min
Much of middle America’s money troubles can be summed up in a single word – denial. Despite having a decent income, many mid-income families spend carelessly, rack up debt, and carry on like the bill will never come. But the chickens will come home to…
GFC 078: What Should You Do With a Lump Sum Pension From a Former Employer?
Dec 20, 2016 • 37 min
Traditional defined-benefit pension plans have become fairly rare in recent years, but there are still a good number of people who have them nonetheless. They can get a bit complicated when you leave an employer where you have a plan. Employers often give…
GFC 076: The One Monthly Payment KILLING Your Wealth
Dec 4, 2016 • 35 min
All across the nation, families are struggling to get ahead. For some, the rising costs of healthcare chip away at their gains. For others, stagnating wages and college bills are a real problem. Then there are those who claim raising kids makes it…
GFC 075: Alternatives to Long-Term Care Insurance
Nov 22, 2016 • 31 min
Mary’s (name changed) mom has been at a long-term care facility for five or six years. When Mary came to me, she transferred her investment account with her husband and her mom’s account (she had power of attorney) to Alliance Wealth Management. We asked…
GFC 074: 4 Factors to Consider When Planning for Long-Term Care
Nov 21, 2016 • 30 min
Imagine you’ve done everything right to prepare for retirement. You’ve maxed out your 401(k) and Roth IRA for years, slowly paid off your primary residence, and reduced your living expenses. You’ve bought plenty of life insurance and secured health…
GFC 073: Long Term Care Insurance Quotes: How Much Do You Need?
Nov 4, 2016
Most people won’t object to paying for most types of insurance: homeowners, health, life, auto, etc. While most people see a need for long term care insurance, once they receive a quote and see how much it actually costs, they are immediately turned off.…
GFC 072: 7 Ways to Invest to Protect Your Principal
Oct 26, 2016
A few weeks ago, I did a podcast with the Director of Financial Planning of Alliance Wealth Management, Andrew Rogers. Our main topic of the day was principal protection – as in, choosing investments that protect your nest egg from losses while promoting…
GFC 071: Watch Out for the Annuity Illustration Optical Illusion
Oct 15, 2016
Have you ever been excited about something only to realize it’s not what you think? Time and time again, this kind of scenario happens in our lives. A recent trip I took with my wife is the perfect example of how a dream can fall short of reality. I was…
GF¢ 069: Understand Your “Why” Before You Buy an Annuity
Sep 19, 2016 • 17 min
Want to know what gets me really fired up? If there’s one thing that really grinds my gears, it’s when we find out a new client unknowingly has an annuity in his or her portfolio. Now, it’s not just the fact they have an annuity that’s the problem. As I…
GFC 068: The 7 Essential Musts For An Epic Family Road Trip
Aug 1, 2016
Summer is here, which conjures images of swimming pools, hot dogs on the grill, and epic whiffle ball games. There’s nothing I look forward to more than warm, lazy summer days. You can’t talk about summer without talking about a summer vacation. Some of…
GF¢ 065: 5 Ways to Prevent Your 70-Year-Old Self from Hating You
May 20, 2016 • 24 min
How often do you think about your future self? Often? Seldom? Wherever you’re at on that spectrum, my bet is that you’d be better off thinking about your future self more often. Before you do anything, it’s helpful to ask yourself: “Is this going to…
GF¢ 064: Will It Fly – Interview with Pat Flynn
Mar 1, 2016 • 32 min
Think you have the next great business idea? How do you know if it’s a money maker or another flop? Author and blogger, Pat Flynn, offers his tips from his latest book, Will it Fly, on how to make sure your business idea soars. Flynn’s newest release will…
GF¢ 063: The Legacy Optimizer Strategy – How to Turn a $325,000 IRA Into a $786,000 Benefit for Your Heirs
Feb 11, 2016 • 22 min
A recent client of mine found herself in a very interesting position. My client and her husband both had very handsome pensions that paid them more in retirement than they were making while they were working. Each month, they had a surplus and were…
GF¢ 060: Top Money Mistakes Military Members Make
Dec 7, 2015 • 35 min
Having been in the military for 9 years, I’ve seen plenty of military members make some foolish money mistakes. Heck, I’ve been guilty of plenty myself! I had the privilege of being interviewed by a fellow CFP®, Mary Beth Storjohann, who is also a…
GF¢ 058: 11 Financial Behaviors You Don’t Want Your Kids to Learn From You
Oct 14, 2015 • 26 min
There’s nothing I would love better than to sit down and tell my three boys all the right things do about money. Unfortunately, just as is the case with every other lesson we provide, kids learn more from what we do than what we say. My boys are no…
GF¢ 057: How to be Financially Confident and Own Your Money Like a Boss
Sep 2, 2015 • 17 min
When you’re struggling with money, financial confidence is usually nowhere in sight. This could very easily lead to spiraling out of control and getting yourself into a worse position with your money. How can you gain some financial confidence even when…
GF¢ 055: 9 Lessons I Will Teach My Kids to Become a Millionaire (like their dad)
Aug 26, 2015 • 24 min
Every good parent wants the best for their kids. I’m certainly no exception. I have three boys. Between them running around and playing with each other, I try to teach them some lessons. Why? Because I want to ensure I give my kids every chance possible…
GF¢ 054: Don’t Fall Victim to Financial Complacency
Jul 28, 2015 • 23 min
“Whatever you do, don’t become complacent to your surroundings.” That was a warning that we all received prior to being deployed to Iraq in 2005. We heard it from our pre-deployment trainers. We heard it from our higher ranking officers. We even heard it…
GF¢ 053: 6 Safe Places to Invest Your Money in Retirement
Jul 21, 2015
“If I was your mom, how would you invest my money?” A lady who I had previously helped with her aunt’s investments for years now came to me regarding up her upcoming retirement. She was already working with a “broker” as she called him but didn’t feel…
GF¢ 052: How to Avoid Getting Burned by Devastating Financial Malpractice
Jul 19, 2015
Several years ago, I used to play in a flag football league. After catching a pass, I hit the open field and between me and the end zone was one lone defender. As I glided across the field I knew exactly what I was going to do next: I was going to bust…
GF¢ 051: The Miracle Morning: Interview With Author Hal Elrod
Jul 4, 2015
Beep. Beep. Beep. Smack the snooze button. Back to sleep. 10 minutes later… Rise and repeat. This was my typical sleep routine every morning. Most people assume that since that I was in the military that I’m naturally a morning person. #notevenclose I’m a…
GF¢ 050: 5 Reasons Why You Should Never Buy a Variable Annuity
May 5, 2015
Breathe in. Smell that? It’s the stench of a variable annuity. If you just threw up a little bit in your mouth, I don’t blame you. If you didn’t, you probably don’t know enough about variable annuities. What’s a variable annuity? It’s a contract between…
GF¢ 049: From Broke at 37 to Self-Made Millionaire
Apr 16, 2015
Broke at 37. Self-made millionaire. Frugal, Author of Filling the Glass: The Skeptic’s Guide to Positive Thinking in Business. Semi-retiree by choice (“it’s incredibly difficult to turn off the moneymaking machine” ). Barry Maher is living life and loving…
GF¢ 048: 8 Warning Signs You Need to Fire Your Financial Advisor
Mar 4, 2015
You’ve been working with a financial advisor for some time now, but now you’re starting to have doubts that you hired the right person for the job. Hopefully, you did a background check on them first, right? Is that financial planner more interested in…
GF¢ 046: 7 Life Lessons I Learned from The Rock
Feb 3, 2015
Look at me. Do you see a well-dressed financial advisor? Perhaps the Scorpion King? Okay, maybe you see both. Admit it, when you look at me you don’t know whether you should ask for help consolidating your retirement accounts or request a signed movie…
GF¢ 044: How I Tripled My Revenue and Took More Time Off Because of Strategic Coach
Dec 11, 2014 • 42 min
What is one investment you’ve made in the past that you’re grateful for today? In 2011, my financial planning practice was thriving, for the most part. It had been three years since I left my old firm and co-founded Alliance Investment Planning Group, and…
GF¢043: [Case Study] Can You Retire Early with Only 1 Million Dollars?
Nov 24, 2014 • 23 min
I want to retire early with 1 million dollars. That statement has a nice ring to it, huh? I don’t think I’ve worked with a client yet that didn’t want to retire early, or wouldn’t be ecstatic if they had a $1 million portfolio. But as most of us already…
GF¢ 042: Unlocking Your Inner Greatness with Ben Newman
Nov 18, 2014
Ben Newman is on fire. And I’m proud to say he’s a friend, mentor, and someone that oozes positivity into my life. Plus, he’s a die-hard St. Louis Cardinals fan, so what’s not to love? 🙂 Here are just a few of Ben’s accomplishments Super successful…
GF¢ 041: How to Silence Your Haters (and shake it off, shake it off)
Nov 4, 2014
Haters goin’ hate, hate, hate. Shake it off. Shake it off. –Taylor Swift Haters gonna hate. Because that’s what they do. If you allow their words to infect you, they’ll never go away. Their words will sting and paralyze you from achieving what you’re…
GF¢ 040: Everything You Need to Know About Your Credit (that you probably don’t)
Oct 6, 2014
As a Certified Financial Planner, I know a lot about financial planning issues, but there’s one thing that I didn’t realize I didn’t know much about and that thing is credit. Several years ago, I went on a bold quest to find what my true credit score was…
GF¢ 039: Reader Question: What is The Best Thing to Do With an Old 403(b)?
Oct 1, 2014 • 25 min
Well, whether you need PROFESSIONAL professional help is up for debate, but when it comes to your finances, don’t rely on Google. You need someone who knows what they’re doing. Consider this example: I am 45 years old with 3 young children. My biggest…
GF¢ 038: The 17 Worst Excuses For Not Saving For Retirement
Sep 18, 2014
You know what’s sad? Despite all the talk about retirement planning, and all the information available on the web, millions of people still aren’t saving for retirement. You know what’s even worse? Many of them give lousy excuses! Well, not on my watch.…
GF¢ 037: 4 Ways to Save For Your Kids’ College Education (including what I chose)
Sep 2, 2014 • 35 min
One day all my 3 boys are probably going to be attending college. You know what that means: $Cha-Ching. My wife and I already decided that we don’t plan to pay 100% of their tuition, but we will try to help them out so long as they are working towards…
GF¢ 035: How to Invest a Million Dollars (without blowing it like a rockstar)
Aug 13, 2014
They say you have a 1 in 10,000,000 chance of winning the lottery. Well, today is my lucky day, because I just won – yeah baby! Okay….maybe I didn’t actually win. We’re just going to pretend I did for the sake of this post. 🙂 I once had a client ask me,…
GF¢ 034: I Hate Budgeting. YNAB to the Rescue!
Jul 30, 2014 • 20 min
In case I have not made this abundantly clear on the blog – I HATE budgeting. Did I make that clear enough yet? 🙂 Seriously, I would rather change 24 poopy diapers than to sit down and hammer budget. Luckily, there are guys like Jesse Mecham who aim to…
GF¢ 033: 15 Reasons Why You Won’t Be Able to Retire Early
Jul 16, 2014 • 31 min
Who doesn’t want to retire early? Unfortunately, many people won’t be able to. Even worse, many people don’t have a clue that they won’t be able to retire early. Such was the case with this couple in their mid-30’s that planned on retiring in their 50’s…
GF¢ 032: How Betterment Grew From Zero to $500 Million in Under 4 Years
Jul 9, 2014
“There has to be a simpler way to invest.” That’s what the Jon Stein, the CEO of Betterment thought to himself not too long ago when he was beginning his investing journey. Well that thought has turned into a $500 million dollar investment company in just…
GF¢ 031: Is Universal Life Insurance a Ripoff?
Jun 18, 2014
Sell them what you want, not what they need. Unfortunately, this happens A LOT in our industry. Shady financial advisers will sell mutual funds, annuities, REIT’s, cash value life insurance — basically anything that might make more sense for them (in the…
GF¢ 030: What You MUST Know Before Hiring Your First Coach
Jun 11, 2014 • 54 min
This podcast episode is a continuation to support Operation: #investNOW where I’m inspiring 1 million people to invest in themselves. Check it out here. This podcast is all about one of the best investments I’ve ever made, but I’m not just rehashing…
GF¢ 029: 7 Financial Advisors I Would Like to Punch in the Face
May 22, 2014
People who know me know I’m not a very violent guy. I’ve never been in a fist fight in my entire life, I very seldom ever yell (except when the St. Louis Cardinals would blow a four run lead in the bottom of the ninth), and I cover my face with a pillow…
GF¢ 028: How to Start a Franchise Empire (without going broke)
May 15, 2014
Opening one franchise and making money is a tall feat. What about opening more than 13? Now that’s legit! Jesse Keyser is a franchise owner based in Southern Illinois. What I love about Jesse’s story is that it’s a perfect reminder of what Operation:…
GF¢ 027: 5 Questions to Ask *Before* You Buy an Annuity
May 5, 2014 • 30 min
Buying an annuity should not be the worst experience of your life. Some financial advisors represent them to be the greatest thing since sliced bread. Other advisors associate annuities with a certain four-letter word. And no, that word isn’t good. You…
GF¢ 026: How to Say “Screw the 9 to 5” and Chase Your Passion
Apr 28, 2014 • 38 min
If you’re sitting at your day job banging your head on your desk, then I might have the podcast for you. Tom Ewer from LeavingWorkBehind.com left the comfort of his 9 to 5 job to chase his dream. “Chasing your dream” always sounds cool, but it’s not as…
GF¢ 025: Top 6 Mistakes That Will Screw Up Your Retirement
Apr 13, 2014 • 36 min
No one likes to get screwed. It’s not a fun feeling and personally it irritates the crap out of me. But what happens when you screw yourself? That’s definitely not cool! I’ve been a financial advisor for over 12 years now and I’ve seen plenty of people…
GF¢ 024: How to Buy Back More of Your Time With Outsourcing
Apr 9, 2014 • 42 min
Chris Ducker is the outsourcing king. He runs an outsourcing company that helps small business owners grow their business, and has also automated his own business to “buy back” more of his time, so he can spend it doing what he loves. In short, Chris…
GF¢ 023: How Do Financial Advisors {REALLY} Get Paid
Apr 4, 2014 • 21 min
What’s the #1 Question You Should Ask a Financial Advisor before You Hire Them? Hint: It has everything to do about money. In particular – your money. In this podcast, I address the #1 question you should ask your financial advisor before you agree to…
GF¢ 022: How to REALLY Invest In Yourself with Liz Dialto
Mar 27, 2014 • 38 min
I love hearing stories of people that are willing to take risks to follow their dream. Especially when they make it. That’s when the goosebumps kick in! Liz Dialto is a dreamer, an action taker, and risk taker extraordinaire. My wife and I interviewed Liz…
GF¢ 021: My Investing Journey – How I Got Started Investing
Mar 20, 2014 • 18 min
How I got started investing. People get overwhelmed with investing because they don’t know how; they’ve never had an example, or parents, family, or friends who have shown them how. This podcast will show just how easy it is to invest. My Investing…
GF¢ 019: How to Change Your Financial Mindset For Ultimate Success
Mar 6, 2014
Sometimes it’s the little things in lives that can have a huge impact for the rest of your life. I constantly meet with people regarding your their finances that fail to grasp that simple concept. Here’s a reader question that involves having to rethink…
GF¢ 018: How Steve Chou’s Wife Replaced Her $100k Income With an Online Store
Feb 25, 2014 • 34 min
Steve Chou’s wife wanted to quit her job so she could be a stay at home mom. There was only one problem: she had a job making over $100k per year. They had to figure out a way to replace her salary and for them, that was starting an online store. I had…
GF¢ 016: Personal Finance Expert Farnoosh Torabi Shares Her Investing Experience
Feb 16, 2014 • 33 min
This is another post to to help kick off Operation: #investNOW where I’m inspiring 1 million people to start investing in themselves. Farnoosh Torabi is a published author, speaker and TV personality that has been featured on Forbes, The Today Show, New…
GF¢ 012: How Much Do You Really Need to Retire?
Jan 19, 2014 • 41 min
Have you ever wondered how much you really need to retire? As a financial planner I get this question asked to me all the time. Instead of boring you with my response, I thought it would be fun to hear it from someone who has literally wrote the book on…
GF¢ 010: How to Retire at the Age of 30 (and not think twice about it)
Jan 3, 2014 • 41 min
Retiring at the age of 30. It doesn’t seem imaginable does it? Pete, also known as Mr. Money Mustache. was able to defy odds and retire right before his 31st b’day. While that may seem insanely crazy to achieve, what might be even crazier is that he…
GF¢ 008: Tips on How You Can Increase Your Daily Productivity by 7000%
Dec 22, 2013 • 17 min
Click here to subscribe to the “Good Financial Cents” Podcast in iTunes. I have a confession. I suffer from a slight case of ADHD. In addition to that, I am scatterbrained to the umpteenth degree. From the outside looking in, many people perceive me as a…
GF¢ 007: Interview With 17 Year-Old Personal Finance Blogger Eva Baker
Dec 20, 2013 • 17 min
Click here to subscribe to the “Good Financial Cents” Podcast in iTunes. When I was 17 years old all I cared about was eating at Taco Bell and rocking out to Pearl Jam. Priorities people. When I learned that a 17 year-old girl started a blog I was amazed.…
GF¢ 006: How 5 Seconds (could have) Changed My Life (and still did)
Dec 15, 2013 • 16 min
Click here to subscribe to the “Good Financial Cents” Podcast in iTunes. The other day 5 seconds made all the difference in the world. I was heading back home from a meeting I had with a client near the St. Louis area traveling south on Route 127 – a two…
GF¢ 004 – 5 Ways to Reboot Your Financial Life
Dec 5, 2013 • 59 min
Click here to subscribe to the “Good Financial Cents” Podcast in iTunes. Are you finances struggling to stay above water? Many Americans deal with this very struggle daily. My mission is to try and help. Karyn Lisk from Future Purpose Coaching asked that…
GF¢ 002: The Money Uprising Movement Continued
Nov 23, 2013 • 27 min
Episode 2 is in the bag….. Hope you enjoyed the 1st episode of the GF¢ Podcast. If you did, you’re in luck ’cause here’s the #2. If you didn’t….. well, um….I still love you. 😉 The Money Uprising Movement Continued In the second episode I dive more into…
GF¢ 001: What I’m All About
Nov 21, 2013 • 30 min
It’s finally here! After wanting to start the GF¢ Podcast for over 11 months it has finally arrived! What can I say… great things take time to mature. 🙂 In my defense, I did publish a book and my wife and I started our Dollars and Roses podcast. That…