PODCAST EPISODE 150: THE AUTOBIOGRAPHY OF YOUR MONEY

EPISODE SUMMARY

In this episode of Your Business, Your Wealth, Paul and Cory talk about the autobiography of your money. Specifically, they highlight the importance of understanding the varying rates of returns of your investments so that you can ensure maximum efficiency of your portfolio. Using mutual funds and real estate as two primary examples, they show the hidden costs of these investments. Finally, Paul and Cory strongly urge the audience to take a deeper look before taking action on different investment strategies in order to build a life that is great.

WHAT WAS COVERED

  • 01:47 – Today’s topic: The Autobiography of Your Money
  • 02:15 – This Week in Planning
  • 05:41 – Looking at how fast our balance sheet is growing overall
  • 07:10 – Reflecting on the worst rate of return for our money
  • 11:45 – Cory recalls buying his first car
  • 13:14 – Why the financial media encourages young people to take more risk
  • 15:02 – Looking at the rate of return of mutual funds
  • 16:04 – Looking at the rate of return of real estate
  • 19:42 – The costs of owning real estate
  • 23:50 – Other hidden costs of real estate investing
  • 24:55 – Paul interrupts the podcast to provide the audience with a special offer
  • 26:06 – How far are you advancing against the financial current?
  • 27:31 – The tandem fishing kayak example
  • 31:46 – Know the internal and external costs and rates of return of your investments
  • 33:15 – How not knowing the true autobiography of your money can cost you in life experiences
  • 34:21 – Paul leaves the audience with some actionable advice
  • 34:44 – Paul announces a special giveaway to those who leave a podcast review

TWEETABLES

LINKS

Sound Financial Group’s Website for a Financial Inquiry Call – Info@sfgwa.com (Inquiry in the subject)

Sound Financial Group on Facebook

Sound Financial Group on LinkedIn

Cape Not Required (Cory’s Book)

Sound Financial Advice (Paul’s Book)

Clockwork

Mike Michalowicz’s Book – Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Paul’s Twitter

Paul’s LinkedIn

Cory’s LinkedIn

This Week In Planning Article

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MUSIC CREDITS

“Legends Are Made” Copyright 2017. Music, arrangement and lyrics by Sam Tinnesz, Savage Youth Music Publishing SESAC and Matt Bronleewe, UNSECRET Songs SESAC

ATTACHMENTS

PRODUCTION CREDITS

Podcast production and marketing by FullCast

Recorded using Switcher Studio: sales@switcherstudio.com