Money & You with Michelle Perkins

Ep 198: “Unlocking Home Wealth: The Truth About Reverse Mortgages”

Ep 197: Your Life with Real Estate: From Mindset to Practical

oday’s guest learned the real cost of retirement long before most people even ask the first question. As a young soldier-turned-advisor, he saw how life can change on a dime—and how a lack of planning and communication turns money into chaos for families.A single realization shaped his career: retirement isn’t won on a spreadsheet—it’s built through purpose, honest conversations, and proactive choices about health, Medicare, Social Security, and long-term care. By blending practical tactics with human realities, he helps people retire on their own terms—not their neighbor’s.He’s not just here to talk numbers—he’s here to show you how money can support the life you actually want.Michelle interviews Jeff Panik, founder of Balanced Wealth Partners, a 25-year financial advisor and U.S. Army veteran. The conversation centers on designing a life-first retirement: testing purpose and hobbies before you retire, avoiding reactive decisions, aligning as a couple, and navigating Medicare/IRMAA, Social Security timing, and long-term care. Jeff shares a “Financial Life Inventory” framework and why communication may be the most valuable asset in your plan.Episode Guide00:00 – Why purpose comes before the portfolio05:22 – Proactive vs. reactive retirement (and the “try it before you buy it” approach)14:18 – Couples, roles, and the communication gap24:40 – Medicare surprises, IRMAA basics, and Social Security timing33:05 – Long-term care planning that actually fits your life41:12 – Legacy talks, family meetings, and preventing rifts47:30 – The Financial Life Inventory: putting the puzzle togetherKey TakeawaysDesign the life, then fund it. Test hobbies, volunteering, travel, or part-time work before you retire.Communicate like it’s a job. Don’t let one partner “own” the finances—share info, budgets, and decisions.Medicare ≠ free. Learn plan trade-offs and IRMAA (two-year income lookback) to avoid premium shocks.Time Social Security intentionally. The higher earner often benefits from delaying to boost inflation-adjusted lifetime income.Plan for care. Consider long-term care before retirement; confirm home-care coverage and inflation features.Hold a family meeting. Clarify wishes, roles, and the “why” behind bequests to prevent conflict later.Inventory everything. Use a Financial Life Inventory to align assets, debts, insurance, goals, and health realities.Connect with JeffBalanced Wealth Partners: balancedwealthpartners.comJeff’s site: jeffreypanik.com (Panik with a K)For more tools and conversations about money mindset, practical tips, confidence, and financial empowerment…Subscribe to the Money & You Podcast:Apple Podcasts, spotify, iheart radio and morePlease rate & review and share the show with friends and family who want to feel more confident and in control of their financial lives—it really helps us!Join the Limit Free Life Community & Blog: https://limitfreelife.com/newsletterLearn more about Michelle Perkins: https://limitfreelife.comLinkedIn: Michelle M. Perkins MBA on LinkedInInstagram: @livealimitfreelifeYouTube: https://www.youtube.com/@michelleperkins-limitfreel2446For more tools and conversations about money mindset, practical tips, confidence, and financial empowerment…

In a recent episode of the "Money & You" podcast, host Michelle Perkins engaged in a rich discussion with Jonathan Grimm, a licensed financial advisor and author of "The Future Poor." You can listen to a previous episode with Jonathan Grimm as well (ep. # 150).In “The Future Poor,” Jonathan Grimm explores the flaws in the American financial system and challenges conventional wisdom about retirement, suggesting that the traditional goal of retirement may not be beneficial for many individuals in today’s world..The conversation focused on the evolving landscape of financial planning, particularly the concept of retirement and its relevance in today's economy. Grimm emphasized that traditional retirement advice may no longer be viable, as many individuals will face difficult conversations with their financial advisors about the inadequacy of their retirement plans in the coming years.The episode highlighted the need for a shift in mindset regarding work and financial planning, advocating for a transition from "meaningless labor" to "meaningful work." Grimm pointed out that older adults often report higher job satisfaction, suggesting that continued engagement in work can be beneficial for health and well-being. The discussion also touched on the complexities of financial tools, such as life insurance, and the importance of understanding their potential benefits. Grimm discusses various financial tools such as life insurance, 401ks, and Roth IRAs. He emphasizes that these tools can be utilized in multiple ways to achieve better financial outcomes, rather than adhering to conventional uses that may not serve individuals' best interests. This conversation is significant as it challenges conventional financial wisdom and encourages listeners to rethink their relationship with money and work, fostering a more empowered approach to financial planning. 00:01 - Mindset and money connection 06:23 - Rethinking retirement conversations 11:30 - Economic bubbles and retirement 19:23 - Meaningful work over retirement 25:35 - Financial tools for better living 36:00 - Understanding life insurance value 41:51 - Investing within life insurance Key Takeaways:   The traditional retirement model may not be sustainable for future generations, and alternative strategies should be considered. -Understanding economic trends and financial tools can empower individuals to make informed decisions about their financial futures. -Engaging in meaningful work can lead to greater job satisfaction and overall well-being,   challenging the notion of retirement as an endpoint. -Financial education and community support are crucial for navigating the complexities of personal finance. Jonathan Grimm can be reached at thefuturepoor.com and offers a free life insurance review for anyone considering life insurance, but unsure about the one they are about to purchase.  For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast:Apple Podcasts Please rate and review &  share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!! Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

Today’s guest discovered the value of money long before most of us even thought about it. At just ten years old, he was recycling bottles, selling to classmates, and already planting the seeds of financial independence. But his journey took a big turn the day he stumbled upon CNBC as a teenager. That single moment sparked a lifelong passion for investing—Earl Yaokasin realized that true wealth isn’t built in classrooms or boardrooms—it’s built through experience, reflection, and learning from legends like Warren Buffett, Charlie Munger, and Mohnish Pabrai. By blending those timeless philosophies with his own insights, Earl developed a strategy not only to build wealth for himself but to help others reach financial freedom. He’s not just here to talk about investing—he’s here to show us how money can become a tool for living your dreams. Michelle interviews Earl Yaokasin, CFA, founder of WealthArch Investment Services, a seasoned investment advisor with over two decades of experience. The discussion centers on the psychological aspects of investing, including biases like confirmation bias and overconfidence, and the importance of maintaining a disciplined approach to investment. Earl emphasizes the value of aligning his personal investments with those of his clients, advocating for a strategy that involves buying when the market is fearful and selling when it is greedy, echoing Warren Buffett's investment philosophy. The conversation highlights the significance of understanding individual stocks versus index funds, encouraging listeners to conduct thorough research before investing or hiring one who does it well. This episode, which aims to empower listeners with financial knowledge and insights, underscores the importance of developing a healthy relationship with money and making informed investment decisions. The podcast serves as a resource for those looking to enhance their financial literacy and navigate the complexities of investing effectively.00:00 - Building a healthy money mindset 05:60 - Contrarian investment strategies explained 14:12 - The importance of humility in investing 24:30 - Investing in individual stocks wisely 38:09 - Resources for financial education Key TakeawaysWarren Buffett's Wisdom: "When the market is greedy, be fearful. When the market is fearful, be greedy." This principle encourages investors to act contrary to market sentiment.- Continuous Reevaluation: Regularly reassess your investments and remain open to new information to avoid confirmation bias.- Alignment of Interests: Earl emphasizes the importance of aligning his investments with those of his clients, reinforcing transparency and trust.- Caution in Investing: Always approach investments conservatively and conduct due diligence before making decisions.Connect with Earl with a special offer for Money and You listeners:http://mywealtharch.com/moneyandyou/For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast: Apple PodcastsPlease rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!!Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In this podcast episode of "Money & You," host Michelle Perkins engages in a powerful discussion with guest Joey Mure from “Wealth Without Wall Street”, focusing on the relationship between mindset and financial freedom. The conversation highlights how traditional beliefs about money, such as the notion that working hard equates to greater freedom, can be misleading. The guest shares personal experiences of transitioning from the mortgage industry to earning his salary plus, through passive income strategies. He emphasizes the importance of taking control of one’s finances rather than relying on a job and Wall Street.The episode underscores the significance of understanding one’s relationship with money and the potential for creating passive income streams. The guest references the book "Become Your Own Banker" by Nelson Nash, which influenced their approach to financial independence. The discussion took place recently, reflecting contemporary challenges in achieving financial freedom. This dialogue is important as it encourages listeners to rethink their financial strategies and consider alternative paths to wealth, ultimately aiming to empower individuals to achieve a more fulfilling and financially secure life.00:00 - Mindset matters for money 10:36 - Transforming financial perspectives 18:11 - Building passive income streams 36:53 - Unlocking financial potential together Mindset is portrayed as crucial; the podcast emphasizes that overcoming limiting beliefs about money, such as the idea that hard work directly leads to wealth, is essential for creating a fulfilling financial life. He explains how traditional beliefs about hard work and income can limit financial freedom and  the role of creativity and space in achieving financial goals.Key Takeaways:-The importance of mentorship and learning from experienced individuals in the field. -“Thinking Like a Bank” was a starting point and mentorship from the author key.  Strategies for capitalizing your life and creating multiple income streams.-  The significance of understanding the real return on investments and cash flow. -  Challenging the notion of deferring life until retirement.  - Emphasizing the importance of enjoying financial freedom in the present.  - The guest's personal experience with investing in life insurance policies and the unexpected outcomes that followed.  - Encouragement to take the next right step towards financial independence.Check out the WealthWithoutWallStreet podcast and visit wealthwithoutwallstreet.comFor more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment…Subscribe to the Money & You Podcast:Apple Podcasts Please rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!!Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter Learn more about Michelle Perkins: https://limitfreelife.com LinkedIn: Michelle on LinkedInInstagram: @livealimitfreelifeYouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In this podcast episode of "Money & You," Michelle Perkins speaks with Cliff Nonnenmacher, who began his career as an investment banker at Morgan Stanley. After leaving his Wall Street career in 2003, he acquired a Master Franchise for New York and Connecticut, diving headfirst into the franchising industry. Since then, Cliff has owned and operated various franchise businesses, as well as non-franchise companies. He has also developed well-known domestic and international brands like Four Seasons Sunrooms, Contours Express, Island Fin Poke, and Krak Boba.With over 25 years of experience in franchising, finance, and business, Cliff has been involved in every aspect of the franchisor-franchisee relationship. Cliff now uses his extensive knowledge to assist corporate executives in building generational wealth, diversifying their investment portfolios, and navigating career transitions through franchise ownership. The guest shares insights on the realities of being a franchisee, highlighting that many franchise owners are essentially operators rather than true owners, which affects their long-term financial outcomes.The episode also touches on the impact of artificial intelligence on various professions, including franchising, and the importance of adapting to technological advancements. They discussed the franchising model, and the best franchising ideas for a new age. This show offered exciting ways that people could be business owners without some of the start up headaches.00:01 - Mindset and money connection 07:17 - Wealth mindset myths debunked 12:54 - Franchising insights and opportunities 23:31 - AI's impact on professions 29:17 - Disruption and entrepreneurial survival 36:60 - Tax strategies for wealth building The podcast emphasizes that our relationship with money is crucial for overcoming financial obstacles. A positive mindset towards wealth is essential, as negative thoughts about money can hinder financial success. The podcast discusses the rise of AI in franchising, including concepts like AI-operated convenience stores and the need for entrepreneurs to embrace technology to remain competitive in the evolving market. The guest identifies four “hot” categories: testosterone-related brands, services catering to an aging population, youth enrichment programs, and anti-aging or beauty-related businesses, all of which are seen as resilient to market changes. They touched on ways to use retirement savings for tax effective strategies to invest in franchise businesses as well.For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast:Apple Podcasts Please rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!! Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In the podcast part 2 episode of "Money & You," with Dr. Noah St. John, we followed up our “head trash” conversation with more on the interplay between mindset (inner game) and practical strategies (outer game) in achieving financial success. They emphasize the importance of cultivating a positive relationship with money and overcoming mental barriers, referred to as "head trash." Dr. Noah shares insights from his experiences coaching high achievers and introduces concepts like the "golden triangle" of money, meaning, and freedom. He highlights common challenges faced by business owners, such as insufficient sales, and critiques the marketing tactics of some self-proclaimed gurus. The episode also marks the launch of Dr. Noah's AI tool, the NoahBot, designed to provide 24/7 coaching support. This discussion took place recently and is significant as it offers listeners practical advice and tools to enhance their financial mindset and business strategies, ultimately aiming to empower them in their entrepreneurial journeys.00:00 - Mindset and money connection 05:06 - Breaking through financial barriers 11:50 - The golden triangle explained 22:04 - Marketing challenges for coaches 28:01 - Introducing the NoahBot AI The 'inner game' refers to the mindset and habits that influence one's relationship with money, while the 'outer game' involves practical strategies and actions taken to achieve financial success. Both are essential for overcoming financial obstacles.Dr. Noah emphasizes the importance of building a 'machine' for business operations rather than relying solely on personal effort. He critiques traditional marketing methods that often prioritize self-promotion over effective teaching. Many people believe they have a lead generation problem when, in fact, they may be facing deeper issues related to their marketing strategies. Dr. Noah points out that those who are highly skilled often struggle with self-promotion, leading to a disconnect in their business success.Key TakeawaysAchieving financial success requires a harmonious balance between mindset (inner game) and practical strategies (outer game).- Overcoming limiting beliefs is crucial for unlocking potential and achieving financial goals.- The Golden Triangle framework can guide individuals in aligning their financial pursuits with personal meaning and freedom. - Business owners should focus on creating efficient systems to enhance sales and reduce personal strain.- The launch of NoahBot offers a unique opportunity for continuous learning and support in personal and financial development. Dr. Noah launched the NoahBot, an artificial intelligence tool that encapsulates his knowledge from 25 books.Resources Mentioned:NoahBot: An AI coaching tool available at (http://noahbot.me)- Free Gift: Access resources: (http://freegiftfromnoah.com)- Books by Dr. Noah St. John: "The 7-Figure Expert" and many more.For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast:Apple Podcasts Please rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!!Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In this podcast episode of "Money & You," host Michelle Perkins joins guest Dr. Noah St. John, author of 25 books including one of his newest on overcoming mental barriers (head trash) related to money. Dr. Noah is on a mission to help people worldwide reduce the doubt, distraction and mental junk that blocks success. The conversation emphasizes the significance of mindset and habits in addressing financial challenges.  This repeat and highly regarded guest shares insights from his experience, notably, his coaching has helped clients generate an additional $3 billion. He reflects on his upbringing, being poor in a wealthy community, which fueled his desire to understand financial success. Dr. Noah stressed the importance of clarity in goal-setting, not just in financial terms but across all aspects of life, including health and relationships. They critique the self-help genre for often lacking in actionable advice, advocating for practical steps to eliminate "head trash"—negative thoughts that hinder progress. This episode is important as it provides listeners with strategies to improve their relationship with money, and encourages proactive measures to achieve personal and financial goals.00:00 - Mindset and money connection 09:24 - Universal business insights 16:04 - Clearing mental obstacles 24:31 - Defining your desires 30:51 - Taking action against doubt The conversation delves into the mindset barriers that often lead to financial struggles, the importance of clarity in goal-setting, and actionable steps to finally stop any of the self sabotaging behaviors they have become accustomed to. The conversation was so good that Dr. Noah offered to delve into the internal world of success in Part 1 and allowed us to have a deeper dive into the external ways one can improve their habits and actions in Part 2 (next show).  Key Topics Discussed  The Importance of Mindset:  Money issues often stem from our mindset and habits. A positive relationship with money is foundational for a fulfilling life.- Head Trash and Its Impact:  The concept of "head trash" refers to negative thoughts and beliefs that hinder financial success.Noah’s offers: FreegiftfromNoah.com to receive his book and Noahbot.me for a free GPT. Also check out BreakthroughwithNoah.com to get more done in 12 weeks than in the previous 12 months. For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast: Apple Podcasts Please rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!!  Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In this podcast episode of "Money & You," host Michelle Perkins discusses the critical relationship between mindset and money management with her guest, Ed Vargo. Ed is the co-founder and President of Burning River Advisory Group and EnlightenHer, a community devoted to money mentorship for women. With more than 24 years of experience in the financial services industry and father of 5 girls, Ed strives to help women develop a long-term financial plan for every stage of life including retirement planning, college planning, and transitioning successfully in cases of death and divorce.They explore the importance of educating oneself about finances, especially in the context of divorce, where women may feel overwhelmed and unprepared. The discussion highlights the need for a shift in how financial services approach women, advocating for a more empathetic and understanding framework that aligns with women's unique perspectives on money.The episode underscores the significance of treating financial literacy as a survival skill rather than a secondary concern. This conversation reflects ongoing societal challenges regarding financial empowerment for women. Insights shared are vital for fostering a healthier relationship with money, particularly for those navigating significant life changes like divorce, ultimately aiming to empower listeners to take control of their financial futures.00:01 - Mindset and money connection 09:07 - Empowering financial mindsets 22:14 - Connecting with financial advisors 35:30 - Navigating divorce financially 45:44 - Post-divorce financial empowerment    The conversation emphasizes the importance of financial education and mindset in overcoming the challenges associated with divorce and rebuilding one's financial future. The podcast highlights that many individuals, particularly women, feel overwhelmed and lack knowledge about financial matters related to divorce, often due to misconceptions and a lack of education on the topic.The podcast emphasizes that a positive or neutral mindset about money is crucial for taking effective action, suggesting that without the right mindset, individuals may struggle to engage with their finances confidently.Key Takeaways:  - A strong mindset is foundational for effective financial management and decision-making. - Women often need to approach financial discussions differently than men, focusing on connection and understanding. - Knowledge is power; educating oneself about finances is crucial when contemplating or going through a divorce. - Post-divorce is a pivotal moment for women to reassess their financial goals and take charge of their financial lives. For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast: Apple PodcastsPlease rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!! Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In this episode of the "Money and You" podcast, Michelle interviewed Camille Scott Wiles RN, Agency Owner of Emerald Diamond Advisors. A licensed financial professional with over 14 years of experience in commodities investing and a background as an ICU nurse. The discussion focused on the importance of financial security, particularly for nurses and other professionals, emphasizing strategies for early and secure retirement. Camille shared her personal journey from nursing to financial services, driven by a desire to help others protect their assets amid rising medical debts and economic uncertainties. The conversation highlighted the significance of life insurance, annuities, and precious metals as tools for safeguarding wealth, especially during the ongoing wealth transfer from baby boomers. Camille stressed the necessity of establishing living trusts to prevent creditors from seizing assets and to ensure that individuals can dictate the distribution of their wealth in case of incapacitation. This episode is crucial as it educates listeners on financial literacy and asset protection in a volatile economic landscape, aiming to empower individuals to make informed financial decisions. 00:00 - Camille's journey to financial security  08:17 - Protecting assets in wealth transfer  17:58 - Importance of living trusts  27:37 - Investing in precious metals  37:46 - Understanding wealth cycles  48:16 - Opportunities for financial learning  What motivated Camille to transition from nursing to financial services? Camille transitioned to financial services after recognizing a trend where people's retirement funds were at risk, especially during the significant wealth transfer occurring as baby boomers age. Her experience as a nurse, particularly during the COVID-19 pandemic, also highlighted the importance of financial security. Key Takeaways: - Financial Security: The importance of proactive financial planning to protect assets and ensure a secure retirement. - Living Trusts: Establishing a living trust can prevent loss of assets and provide peace of mind regarding financial decisions. - Investment Strategies: Diversifying investments with life insurance, annuities, and precious metals can provide a hedge against economic uncertainties. - Education is Key: Continuous learning about financial history and wealth cycles is essential for making informed investment decisions. Camille recommends Mike Maloney's work, particularly 'Gold and Silver: The Investment of the 20th Century,' as a valuable resource for understanding wealth cycles. She also shares her own books and masterclasses to help others learn about financial history and strategies for wealth management. She’s passionate about helping individuals, especially nurses and professionals, retire early and securely, offering free Living Trust and Will setups for new clients. Camille’s goal is to help clients grow their wealth and protect it from life’s unexpected challenges. Check out her class: http://PreciousMetalsMasterclass.com For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast: Apple Podcasts Please rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!!  Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In this episode of the "Money & You" podcast, guest Jayson Mamaclay of Norman Professional Services and Michelle Perkins discussed the critical distinctions between various financial roles within a business, including accountants, bookkeepers, and CFOs. They emphasized the importance of understanding these roles to enhance financial literacy among entrepreneurs, particularly in managing and growing their businesses. The conversation highlighted how many entrepreneurs mistakenly conflate these roles, leading to potential mismanagement of financial tasks. The discussion underscored the necessity for business owners to seek expert help, such as hiring a CPA or a fractional CFO, especially as their companies grow. Jayson introduced the "add a zero rule" to guide when to engage these professionals based on revenue levels. They also touched on the importance of building cash reserves and strategic financial planning to support business growth and stability. This episode is significant as it provides entrepreneurs with essential insights into financial management, helping them make informed decisions that can lead to sustainable business success.00:03 - Understanding financial roles 15:06 - Strategic cash management insights 21:19 - Building cash reserves wisely 30:46 - Envisioning your business future 40:58 - Navigating debt for growth The conversation highlights that an accountant typically focuses on tax strategy and financial oversight, while a bookkeeper manages day-to-day financial transactions. The CFO, on the other hand, plays a strategic role in guiding the business's financial direction and investment decisions.  The podcast helped entrepreneurs understand how to approach hiring financial professionals.The podcast suggests using the 'add a zero rule' for hiring financial professionals, andwhat is meant by 'cash runway' in the context of business financial planning. The podcast emphasizes the importance of having a cash reserve to support the business during downturns, and why it is important for entrepreneurs to have a clear vision for their business's future. The podcast stresses that having a clear vision helps entrepreneurs identify the financial levers they need to pull to achieve their goals. It encourages them to think about pricing, target markets, team size, and necessary resources to build the business they envision. The podcast acknowledges that financial discussions can often feel intimidating or jargony. It emphasizes the importance of friendly and empathetic communication to make financial concepts more accessible and less scary for entrepreneurs.Key Takeaways:Role Clarity: Entrepreneurs should clearly understand the distinctions between financial roles to optimize their business operations.- Strategic Financial Management: Engaging with financial experts can provide valuable insights and help businesses navigate growth challenges.- Cash Management: Building a cash reserve is essential for long-term sustainability and investment opportunities.- Future Planning: Taking the time to envision the future of the business can lead to more informed financial decisions and strategies.- Debt Awareness: Understanding the role of debt in business can help entrepreneurs make better financial choices.For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast:  Apple PodcastsPlease rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!!  Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In this podcast episode of "Money & You," Michelle Perkins engages with financial planner Mark Hansen, who discusses “the quiet part” out loud on this valuable episode. The conversation highlights the importance of intentional financial planning, particularly for single-income families, and the need for discipline in budgeting and saving for retirement. Mark shares insights on how to create a sustainable financial ecosystem, where individuals can balance spending and saving while preparing for retirement. He stresses that financial planning is not just about cutting expenses but about making informed decisions that align with one's values and goals. Mark addresses what is out of our control and what we actually can influence in our financial lives and how to do that.This episode is significant as it addresses common misconceptions about budgeting and retirement, advocating for a proactive and flexible approach to financial health. The discussion took place recently, reflecting contemporary challenges faced by individuals in managing their finances effectively. Overall, the episode aims to empower listeners to cultivate a healthier relationship with money, ultimately leading to greater freedom and choice in their lives.00:00 - Mindset and money connection 05:44 - Adjusting financial mindsets 14:06 - Discipline in financial decisions 21:38 - Planning vs. investing insights 32:00 - Redefining retirement perspectives 38:20 - Connecting with financial experts Mark aims to simplify complex financial matters for single-income families, allowing them to focus on their lives while he manages their financial planning needs. He is passionate about helping clients navigate their financial journeys and create sustainable financial habits. Mark also hosts a podcast “The Quiet Part” where he shares his insights and strategies for effective financial planning.The podcast highlights that financial planning involves setting up a strategy for savings and expenditures, while investing focuses on growing those savings through various financial instruments.Automatic withdrawals help individuals forget about their spending, allowing them to allocate funds to investments or savings without the psychological burden of actively managing those transactions.The podcast suggests that retirement should not be viewed as a hard stop after years of work, but rather as a phase where assets generate income, allowing for continued engagement and choice in life.Key Takeaways  Our relationship with money is foundational to overcoming financial challenges.- Intentional financial planning can help individuals prioritize their financial goals.- Budgeting should be viewed as a tool for empowerment rather than restriction. - Discipline is crucial for maintaining a healthy financial ecosystem.- Retirement planning should focus on generating income rather than solely relying on investments. For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment…For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast:  Apple Podcasts Please rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!! Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

In this exciting episode of "Money & You," Michelle Perkins converses with Joshua Brooks, a financial advisor and Army veteran with over 20 years of service. The discussion centers on the importance of financial literacy, particularly for military personnel, who often face challenges in managing their finances due to a lack of education on the subject. Joshua emphasizes the need for a mindset shift regarding money and highlights the complexities of financial planning, including investment strategies and the integration of digital assets like Bitcoin. Joshua is uniquely knowledgeable and favorable toward cryptocurrency. The conversation also touches on Joshua's commitment to serving veterans and their families, as well as his vision for Exponential Advisors LLC, which aims to provide innovative financial solutions. The episode underscores the significance of understanding financial tools and the emotional aspects of money management, especially in the context of military life.  00:03 - Mindset and money matters 06:21 - Financial literacy in the military 14:42 - Client engagement in finance 20:02 - Understanding bitcoin basics 27:17 - Investing with integrity 35:06 - Transformative healing and finance Main Topics Discussed:Financial Literacy in the Military: The lack of financial education provided to active-duty military personnel. Common financial pitfalls faced by veterans, such as impulsive spending and inadequate financial planning.    -Joshua's Background:  Over 20 years of service in the U.S. Army, transitioning from infantry soldier to chaplain.  His commitment to helping fellow veterans with financial planning, investment strategies, and legacy planning.   - Innovative Financial Solutions:  The integration of digital assets and AI-driven insights into traditional financial planning.  The importance of understanding cryptocurrency, particularly Bitcoin, as a potential investment.- Psychedelics and Personal Transformation: Joshua's recent experiences with psychedelics and their impact on personal growth and financial mindset. The significance of mental well-being in managing finances effectively.- Investment Strategies:  Discussion on the volatility of Bitcoin and its potential as a long-term investment.  Recommendations for allocating a portion of investment portfolios to cryptocurrency.Joshua Brooks, CFP® Founder, Exponential Advisors LLC www.exponentialadvisors.net/For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast:  Apple Podcasts Please rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!! Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter  Learn more about Michelle Perkins: https://limitfreelife.com  LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446

Michelle Perkins discusses the intersection of Human Design and business with her guest, Mel McSherry, who emphasizes the importance of understanding one's unique human traits and how to use them for improved profitability. The conversation highlights how many individuals overlook their personal strengths while focusing solely on their motivations. They explore the significance of mental and emotional well-being in achieving financial success, arguing that true profitability stems from self-awareness and alignment with one's inherent qualities.Mel reflects on their journey from traditional business practices to a more holistic approach that incorporates Human Design principles. This shift has allowed Mel to guide clients in recognizing their unique profitability points without coercion. The episode underscores the necessity of pausing for self-evaluation and understanding one's desires, which can lead to greater clarity and fulfillment in both personal and professional realms. This conversation is important as it offers insights into how self-awareness can transform one's approach to work and financial success, ultimately fostering a more sustainable and joyful business experience.00:05 - Evaluating your unique profitability methods09:47 - Mental and emotional profitability 26:15 - Self-awareness through human design 32:30 - Understanding your desires 40:00 - Clarity in decision-making How does Human Design contribute to understanding profitability in business and personal life? Human Design helps individuals identify their unique profitability points by focusing on mental and emotional well-being first, which in turn leads to financial success, making the process feel more fluid and less of a struggle.Self-awareness is crucial in Human Design as it allows individuals to recognize their foundational traits and how they can utilize this understanding to make better decisions and improve their personal and professional lives.Key Takeaways:  Profitability is Multifaceted:     True profitability encompasses mental, emotional, and financial aspects.    - Self-Reflection is Essential:     Regularly pausing to evaluate your goals and desires can lead to greater clarity and fulfillment.- Human Design as a Tool:   Understanding your Human Design can provide insights into your strengths and areas for growth.- Empowerment Through Awareness:    Recognizing your unique design empowers you to make decisions that align with your true self.- The Universe Supports You:  Trust that opportunities meant for you will come, but prioritizing them is your responsibility.Connect with Mel McSherry: International Business and Life Guide Author of 'She Profits' Host of 'More Than Just' Podcast Website LinkedIn Instagram For more tools and conversations about money mindset, practical money tips, confidence, and financial empowerment… Subscribe to the Money & You Podcast:  Apple Podcasts Please rate and review & share the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. It's sooo important to us!! Join the Limit Free Life Community Blog: https://limitfreelife.com/newsletter Learn more about Michelle Perkins: https://limitfreelife.com LinkedIn: Michelle on LinkedIn  Instagram: @livealimitfreelife  YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446