Claim OwnershipFinancial Freedom Podcast
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© (c) 2016 Steven J. Richardson, Esq. All Rights Reserved.
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A semi-monthly podcast that brings you advice and interviews with experts on various important topics to help you make better and smarter financial decisions in order to improve or maintain your financial situation.
236 Episodes
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Many people experience financial difficulties due to deep seated emotional feelings about money. These feelings often drive bad money decisions that keep them from achieving financial freedom. To identify these emotional money beliefs and help people to get past them I talked with Certified Financial Planner Shannon Ryan to discuss solutions to this problem. In this episode you will learn: - The money beliefs that could be holding you back from financial freedom - How to change them - How to heal emotional money wounds - What "money shame" is and how to get over it
Even if you are on track with your savings and have a clear idea of what you want to do in retirement, there is one component that most people miss: their health. If you want to have a long retirement, your health is key. That's why in this episode of the podcast I talked with Dr. Aleksandra Gajer about how you can optimize your most important asset: your body. In this episode you will learn: About the health of the average American How much it needs to improve overall to ensure a long retirement About how to increase your energy How to avoid burnout How to rebuild and maintain your metabolism How to maintain hormonal balance and brain function
People struggling with debt deal with stress every day. Worrying about how they are going to deal with it can have a significant impact on their mental health, their lives, and their relationships. That's why in this episode of the podcast I talk with Dr. Erika Rasure, a financial therapist with a doctorate in personal financial planning on how to deal with this stress in a positive way. In this episode you will learn: The most common mental health challenges that those with debt face How credit card debt impact someone's mental health How to address this stress and have improved mental health About Loud Budgeting
Achieving long term financial freedom involves learning new things. You need to know the basics of investing, saving, and good stewardship of your money. But the concepts and terminology can be difficult to grasp at times. That's why on this episode of the podcast I talk with Jesse Hurst of Impel Wealth Management who uses pop culture insights to help people learn what they need to know and retire like a rock star. In this episode you will learn: All about Popenomics How pop culture references can help you understand financial and economic concepts
Just about every day there are stories in the news about how President Trump's economic policies, including tariffs, will affect the economy. People are worried about higher inflation and a possible recession. To address this issue I talked with Dr. Laquore Meadows about how you can plan for the future and achieve financial freedom despite what the political landscape may be. In this episode you will learn: How to navigate the shifting political landscape to be successful Why what the politicians do really doesn't matter How to build a strategy for wealth and financial freedom that can hold up no matter the economy or the political environment How politics affect the stock market and how to respond
Everyone wants to be able to retire comfortably and to achieve financial freedom, but a lot of people think that building wealth is an impossible task. They feel stuck in their 9-to-5. But as I said in Episode 99, you can break free of this and be successful. To take a deeper dive into this subject, and to discuss a formula for achieving this goal, I talk in this episode with wealth strategist and Marine Corps veteran Edgar Zavala, on how he did it himself and teaches others to do the same. In this episode you will learn: The biggest myth that people believe about building wealth? The first step to breaking free of the paycheck to paycheck cycle The 5F Formula for Success
In light of the national student loan crisis, parents and students continue to struggle with college choice and financial aid to avoid an unaffordable student debt load upon graduation. I have dedicated several episodes to guests who help people with that. One balancing act parents go through is educating their children while still saving and investing for a comfortable retirement. That's why in this episode of the podcast I talk with Certified Financial Planner Paul Compeau about how to do just that. In this episode you will learn: What happens when families pick a college without a solid financial plan What financial facts should parents know before the applications start Are high school guidance counsellors or the financial aid office of their top picks enough Why you should approach college planning like a CFO Should you always fill out the FAFSA
Serving in the military can teach you many things: discipline, the importance of service, focus, and the determination to carry out goals. But who would have thought that it would also teach you the skills to attain financial freedom? To find out more about how this can happen, I talked in this episode of the podcast to Joshua Brooks about what he learned in his military career as an army chaplain about how to achieve your personal finance goals. In this episode you will learn: What the army can teach you about handling your money and achieving financial freedom How you can apply these tips to your finances
When people think about retirement, they mostly look at whether they can afford it. They plan out long term savings and hope that when they get to their golden years, that money will be enough. But how much is enough? Well, that somewhat depends on what you want to do in retirement. In Episode 125 I talked about planning for what to do in retirement, but to figure out how to use that to determine "how much is enough," I talked with financial advisor Jeffery Panik on solving that puzzle. In this episode you will learn: How to determine how much you need to save to retire Why what you want to do in retirement helps in determining that number How all of that could change over time as you approach retirement
Most people have a checking account with a traditional bank, while a majority of those also have savings accounts. But what about credit unions? Should some people use those rather than traditional banks? What are the benefits? To answer those questions, in this episode of the podcast I talk with Grant Gallagher of Affinity Federal Credit Union about the benefits of credit unions and why you should consider putting your money there. In this episode you will learn: - What credit unions offer that you can't find at other banks - Some of the unique financial and community offerings credit unions can provide - Financial tools and resources credit unions create that address the real needs of their communities - The role education plays in a credit union's approach to financial wellbeing
Having an estate plan is very important. It ensures not only that your legacy is protected, but that you've planned for disruptions in your health and well being while you're alive. It's part of making sure that you are prepared for life's challenges (and the ultimate end of your life). But how you draft and prepare that plan can make a difference in avoiding problems when those documents are needed, especially your will. To tell us about how to avoid probate nightmares I talked with Certified Financial Planner Cameron Zabko on what you should do. In this episode you will learn about: - Challenges Facing Surviving Spouses - The "Widow's Tax" - Probate Pitfalls to Avoid - Not to Miss Estate Planning Tips - The Importance of Succession Planning for Your Small Business
According to research done by the authors of the book *The Millionaire Next Door,* 70% of American millionaires are first generation. This means that in most instances wealth is not being effectively passed down to the next generation, as it is not being preserved. That generation doesn't know how to handle that much money (how many lottery winners are broke a year or two later?) So to talk about how to deal with inherited wealth, in this episode of the podcast I talk with Master Life Coach Chase Collins about how people who achieve significant financial independence can prepare their children for the receipt and handling of a significant financial legacy. In this episode you will learn: - The 3 biggest mistakes people make with inherited wealth - How to teach your children how to handle inherited wealth - How to deal with guilt associated with wealth - About avoiding the "Expectation Trap" - How to manage wealth and avoid losing it shortly after inheriting it
There are only so many hours in a day, and sometimes, even with a second job, it can be hard to make enough money to achieve financial freedom for yourself and your family. One way to get past this problem is to disconnect time from money and start generating passive income. That's why in this episode of the podcast I talk with former practicing lawyer Tanisha Souza about what she calls an "Income Snowball" that can get you that extra income you need. In this episode you will learn: - What an Income Snowball Is - The Kinds of Investments That Are Used to Create One - How it Reduces Risk for Passive Income - How to Find the Money to Invest in One
No matter how hard they try, a majority of Americans are living paycheck to paycheck, and even more don't feel secure with money. With no money left over after the bills are paid, it makes it nearly impossible to save for the future and reach long term financial independence. That's why in this episode of the podcast I talk with financial expert Bill Westrom on how folks can break the paycheck to paycheck cycle, save for the future, and gain financial freedom. In this episode you will learn: - The leading causes for people living paycheck to paycheck - How to get unstuck and and moving closer to financial freedom - How people can get better control of their money - About Credit Line Banking (what it is and how it can help you) - About tools to minimize expenses and achieve lasting financial independence
The sooner kids learn about financial literacy the better. They have a greater chance of maintaining financial freedom and independence in their adult lives. But this goes beyond budgeting, spending, and knowing how credit works; it includes saving for short and long term goals. So to find out more about what parents can do to educate their children on saving I talked with personal finance expert and podcaster Timothy Smith, who hosts "The Financial Dad" with his two daughters. He has some great ideas on how to start your kids out right with money. In this episode you will learn: - How to educate your children on saving and investing - How to teach your children about taxes - About basic saving skills - How to choose a good long term investment - About red flags to look for in investment scams and get-rich-quick schemes
Tax time can be very stressful for folks, especially if they owe money. For those struggling with debt and trying to pay the bills, it is even worse. But it may not always have to be. Tax planning throughout the year is a good idea if you want to minimize your taxes (or maximize your refund) when you ultimately file your return. That's why in this episode of the podcast I talk with financial advisor Frank Buchholz about strategies you might be able to use to be in better shape when you file your next tax return. In this episode you will learn: - Strategic use of IRA contributions - How to spot the good tax tips among the bad - How not getting a refund helps with your taxes and retirement savings
President Trump's efforts to downsize the federal government through the Department of Government Efficiency has a lot of federal workers nervous. Many of them have built a career with the government and spent years in public service. The thought of transitioning to the private sector, should they receive a pink slip, can be very stressful. That's why in this episode of the podcast I bring back Certified Career Coach Bonnie Negron to talk about the best and most effective ways to find the right job in the private sector, as quickly as possible, to stay on track to financial freedom. In this episode you will learn: - How to determine the kinds of jobs to apply for - How to draft a private sector resume (they're different) to showcase yiour public sector skills for private sector employers - How long you should expect it to take to get that next job - What resources you can use to get that job
One of the first steps on the path to financial freedom is getting your spending under control and creating a budget that has you living within your means. But determining **why** you overspend is an important part of the process if you want to stick to that budget. That's why in this episode of the podcast I talk with certified financial coach Scott Yamamura on the psychology behind overspending and how you can use it to identify your motivations and keep your spending under control. In this episode you will learn: - The Psychological Components of Overspending - The Emotional Triggers and Mental Barriers that Lead to Impulsive Financial Decisions - How Tax Season Has an Effect on Buying Decisions - How to Overcome the Psychological Barriers
The ultimate goal of retirement savings is to have a source of income once you leave the workforce for good. One of the scariest things about retirement is that leap of faith that you will still have the money to pay the bills once there's no longer a paycheck. One way to address this is to plan for streams of income in advance, like annuities, which I discussed in Episode 218. But it's good to have options, which is why in this episode of the podcast I spoke with Tom Wall about how life insurance can create another income stream. In this episode you will learn: - How life insurance fits into your retirement savings plan - How life insurance can be a good investment - How life insurance gives you "permission to spend" - What your greatest concerns should be when you retire
One of many financial tools in the retirement savings toolkit is the annuity. Most people have heard about them, and that they provide a stream of income, but beyond that, not much is known. That's why in this episode of the podcast I bring back repeat guest Michael Karwic to talk about what annuities are, how many types they have, and how they can fit well into your retirement investment strategies. In this episode you will learn: - What an annuity is - How many kinds there are - When they are a good idea for you - How to decide what kind to get
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