Missional Money Podcast

SVB Bank Crisis Your Next StepsGiven the enormity of the Silicon Valley Bank collapse, I wanted to share a few thoughts, insights and suggestions for your investments and more importantly for your financial plan. Here's a link to the Video on my new YouTube Channel.Watch the first video in our SVB Banking Crisis Series on YouTube!SVB Bank Crisis Your Next StepsWhat to WatchWhat to AvoidWhat to DoWhat to WatchHopefully, you're not doing what I'm doing... Watching the markets on a daily, hourly, and sometimes minute-by-minute basis. That's my job as your Investment Advisor and I am doing my job! Last week was a wild and rocky ride on Wall Street. Banking Crisis drama at Silicon Valley Bank, jobs growth (again!), and a persistently hawkish Fed all fueled the headlines. There was no shortage of fireworks, and major U.S. equity indexes markets fell sharply. In fact, the S&P 500 fell to levels not seen since January.Tallying last week, the S&P 500 declined by 4.55%, the Nasdaq 100 fell by 3.75%, and the Dow Jones Industrial Average decreased by 4.44%.What to AvoidWall Street and Silicon Valley California were in full panic mode over this past weekend demanding that the FED and Treasury intervene to pull their chestnuts out of the fire. A few leaders have kept a cool head in this so called banking crisis—but billionaire hedge-fund operator Bill Ackman and venture investor David Sacks (SVB Panic Brokers) had a vested interest in spreading panic. The FDIC closed SVB, and the agency will try to find a private buyer for the bank. The FDIC was holding an auction that closed Sunday afternoon.Market Silicon Valley BankVenture capitalists and tech startups felt pain last week as Silicon Valley Bank became insolvent, sparked by the company’s need for liquidity, which resulted in an old-fashioned bank run.The majority of the forty-year-old institution’s clients are venture capitalists and tech startups. The California Department of Financial Protection and Innovation (DFPI) took possession of the bank last week and appointed the Federal Deposit Insurance Corporation (FDIC) as its receiver.SVB and...

About Money Study Group for Students of Personal Finance at the Bauer College of Business at University of Houston Missional Money Financial Planning CourseMissional Money Financial Planning is an online self-study self-paced course designed to help investors create a compelling financial plan in 30 days. Save More MoneyPay Lower TaxesBuild a Better RetirementPrinciples and ProcessMissional Money Financial Planning is based on the principles and process outlined in Jim Munchbach's books: Make Your Money Count, What Matters Most, and Allied for Success. The online course features The Blueprint for Financial Success™.

Day 7: Clarifying What Matters Most - to You 📽‼️Welcome to Day 7 of "30 Days to Make Your Money Count." Today, we embark on a journey of self-discovery and clarity as we explore the importance of defining what matters most to you.Click Here to Download Chapter 3 Powered by Purpose 

Meet The Millionaire Next DoorThe Millionaire Next Door was written by Thomas J. Stanley and William D. Danko. The Millionaire Next Door was originally published in 1996.The book explores the concept of wealth accumulation and challenges common misconceptions about millionaires.The authors conducted extensive research to understand the characteristics, habits, and lifestyles of millionaires in the United States.The main premise of the book is that many millionaires are not the flashy, extravagant individuals often portrayed in the media.Instead, the millionaires next door tend to live modest and unassuming lives. The authors identify seven key characteristics of these “millionaires next door”:Frugality: Many millionaires are diligent about controlling their expenses and living within their means.Savings and Investing: Millionaires focus on saving a significant portion of their income and investing wisely. They prioritize long-term financial goals over short-term consumption.Education: Education is highly valued among millionaires. They tend to be lifelong learners and invest in their own knowledge and skills.Entrepreneurship: A significant portion of millionaires are self-employed or own small businesses. Entrepreneurial ventures have contributed to their financial success.Avoiding Debt: Millionaires tend to avoid excessive debt and are cautious about taking on financial liabilities.Ownership of Appreciating Assets: Millionaires often invest in assets that appreciate over time, such as real estate, stocks, and businesses.Discipline and Persistence: Achieving millionaire status requires discipline, hard work, and perseverance over the long term.Watch the Video - Click Here!

30 Days to Make Your Money Count Over the last decade a small, secret group of Jesus Followers have been working to raise up a new breed of wealth managers.  This special group of wealth managers is focused on helping people create a better plan for using their money, to make a difference. To make a difference in their communities. To make a difference in culture. To make a difference, in the world. And, as always, to make a difference in the lives of the people they love. We all know, that true wealth, is not about having more toys and trinkets. True wealth is about influence, and impact. Money is tangible, but money is also emotional in nature. It's necessary for the exchange of goods and services, but money is also, often, what divides spouses and families. Money is a primary source of permanent scars among loved ones. It's used to rebuild entire nations and their infrastructure, but money is equally vitalto support the poorest among us, for food and shelter.If you're a Financial Advisor, and if you want to learn more about our special group of financial influencers, join me, on The Salty Advisor Podcast. In each episode, we take a fresh dive into the principles, and the process, of building wealth. If you're ready to take your Financial Planning Process to the next level, Enroll today at MissionalMoney.comWatch this Video - Click Here Now!

Amazon Employee Investment StrategiesHey Amazon employees, welcome to an enlightening episode of The Missional Money Podcast. Today, we're exploring Amazon 401k Optimization Strategies with an eye on maximizing returns and minimizing risk. Back in 2019, Nick had $100,000 invested solely in the VANGUARD TARGET 2040 Blended Fund. However, after meeting with me (Jim Munchbach, CFP® Professional, for a quick Financial Planning Review, I suggested that Nick consider putting a couple of my favorite investment strategies to work in his Amazon 401k plan. I wanted to test my marketing team with our new army of AI soldiers (too many to list here in this post, much more to come in future posts about AI and the AI Tools we use at BayRock Financial). Watch this Video in YouTube!

What is Fiduciary Advice?What is Fiduciary Advice by InvestopediaWhat is Fiduciary? Let's Ask ClarkIndependent Fiduciary Advice vs. Financial AdvisorFiduciary Advice vs. Financial Planning EducationFiduciary Advice vs. Financial Coaching Independent Fiduciary Advice Fee StructureHidden Fees and Conflicts of InterestFiduciary Advisory Client OnboardingClient Onboarding Risk ToleranceClient Intake FormsClient Onboarding Legal DocumentsClient Onboarding AgreementsFiduciary Advice and Advisor CoordinationThe Financial Planning Gap AnalysisWatch The Video - Click HereHi, I'm Jim Munchbach, CFP® Professional and Independent Fiduciary Advisor. As CEO of BayRock Financial, I provide Financial Planning and Investment Management services to clients who pay me a fee to be their Independent Fiduciary Advisor. I also provide lots of free Financial Coaching for DIY Investors with educational content on my blog and social media platforms. I specialize in helping small business owners Save More Money, Pay Lower Taxes, And Build a Better Retirement 💼💰📚 Background & Expertise: I spent the first half of my career on Wall Street, learning the secret sauce of wealth management. As a Certified Financial Planner™ Professional (CFP®), Chartered Life Underwriter (CLU®), Chartered Financial Consultant (ChFC®), and Chartered Property Casualty Underwriter (CPCU®), I possess the knowledge and skills to help you navigate the complexities of the financial world. 💼📚💡 Value I Offer: As an Independent Fiduciary Advisor, I'm dedicated to helping individual investors, families, and business owners manage the risk and opportunity of everyday life, recover from the unexpected, and realize their highest purpose.🚀🔹Independent Fiduciary Advice at BayRock Financial, a Texas based RIA. Jim Munchbach, CEO and CFP® Professional. 🔹📽️ https://bayrockfinancial.com 🎙️🔹#FinancialPlanning #Podcast for DIY Investors, Families, and Small Business Owners📽️Jim Munchbach, Host at The Missional Money Podcast: 🎙️ https://missionalmoney.com Financial Planning Podcast for Financial Advisors📽️Jim Munchbach, Host at The Salty Advisor Podcast: http://saltyadvisors.com 🎙️ Connect with Jim Munchbach on YouTube, LinkedIn, Twitter, Facebook, and Telegram: @JimMunchbach 🔹YouTube: https://www.youtube.com/@JimMunchbach 🔹LinkedIn: http://www.linkedin.com/in/JimMunchbach 🔹Twitter: http://twitter.com/JimMunchbach🔹Facebook: http://www.facebook.com/JMunchbach 🔹Telegram: https://t.me/MissionalMoney

Getting Started on your Financial Planning JourneyGetting started can be a little scary. Or, it can be exciting. I'm getting started with a new Fitness Coach - Justin Howell. Today's lesson is Getting Started, you can watch Justin's video on YouTubeHere's how Justin opens his video: "Thoreau once said that human life is wasted in waiting."“Heaven is under our feet as well as over our heads.” “A man is rich in proportion to the number of things which he can afford to let alone.” “Rather than love, than money, than fame, give me truth.” “For my greatest skill has been to want but little.”Let him practise the minor virtues. How much of human life is lost in waiting! let him not make his fellow-creatures wait. How many words and promises are promises of conversation! Let his be words of fate.Justin talks about the concept of wasting time and waiting instead of taking action to pursue happiness and do things we love. It emphasizes the importance of not just waiting for the right time to start making positive changes in our lives, such as improving nutrition and exercise habits, but also having a plan that fits our individual needs and motivations. Justin suggests seeking guidance from fitness professionals and being open to their advice, even if it involves facing challenges because it will be hard.Justin offers support and complimentary consultations to those who are committed to changing their lifestyle and achieving their goals and he encourages us to start now by thinking about what we want to accomplish and researching ways to help us succeed. The key message is to not give up hope, seek assistance, and be honest with ourselves when creating a plan for personal growth.Turning Point - Watch the Video - Click Here

About 30 Days to Make Your Money Count30 Days to Make Your Money Count is our FREE online course for DIY Investors and Small Business Owners. You'll have full access to our Premium Planning Portal, RiskAlyze portfolio checkup, #AskMeAnything Weekly Zoom Meetings, One-On-One coaching and much more. Our online Financial Planning Courses are generally designed to help you Save More Money, Pay Lower Taxes, And Build a Better Retirement. Sign Up for 30 Days to Make Your Money Count Click Here

Missional Money Membership OfferMissional Money Membership for DIY Investors, and Financial Advisors. Get full access to our RightCapital Planning Portal, all Premium Courses, Make Your Money Count, The Blueprint, and much more. Lock in our introductory price of $24.95 per month.

Bucket List: buck·et listINFORMAL nouna number of experiences or achievements that a person hopes to have or accomplish during their lifetime."making this trip is the first thing on my bucket list"What's On Your Bucket List?Do you have a Bucket List? Do you have a plan for your Bucket List?3 things I have on my Bucket ListClick here to watch this episode on YouTube!

Jim Munchbach on Telegram - 25 Tweets to Make you Smile"Just joined Telegram to share my money-saving secrets! Apparently, they don't accept dollar bills as currency here, only emojis. 😂 #MissionalMoney #Telegram"Click Here to Watch the VideoJim Munchbach, CERTIFIED FINANCIAL PLANNERHost at The Missional Money Podcast: https://missionalmoney.com 📽 JimMunchbach.com: https://jimmunchbach.com📽 MissionalMoney.com: https://missionalmoney.com Connect with Jim Munchbach on Social🔹YouTube: https://www.youtube.com/@JimMunchbach @JimMunchbach 🔹LinkedIn: http://www.linkedin.com/in/JimMunchbach 🔹Twitter: http://twitter.com/JimMunchbach🔹Facebook: http://www.facebook.com/JMunchbach 🔹Instagram: https://www.instagram.com/jimmunchbach🔹JimMunchbach.com: https://jimmunchbach.com🔹Telegram: https://t.me/MissionalMoney Mentioned in this episode:Welcome to Missional Money QuickStart

AI Mania What Could Possibly Go Wrong?Consider a few of the potential risks and challenges associated with the recent AI frenzy and what could possibly go wrong. I'm thinking about...The Dark Side of Artificial Intelligence, Ethical Concerns, and The Impact On Jobs And PrivacyAI Investing - Click Here to Watch VideoArtificial Intelligence (AI) has gained immense popularity in recent years, with its applications being integrated into various industries and sectors. The rapid advancement and adoption of AI have led to an AI frenzy, where businesses and individuals are enthusiastic about leveraging its potential. However, it is essential to carefully consider the potential pitfalls and challenges that accompany this AI frenzy.

Asking for Donations Requires SkillAsking for Donations requires skill, in this episode we'll share some tips, tools, and strategies for Christian Missionaries who need a better approach to Asking for Donations.Does your Christian Missionary friend need a better approach when Asking for Donations? For anyone who wants to overcome your fear of asking for donations, or just become far more successful in asking for donations, here are a few tools, tips and strategies from my own experience and a couple of experts. Asking for donations is an essential skill for anyone trying to build support for a ministry. In this episode you will discover the power of community, alternative routes to reach a larger audience, and creative approaches to fundraising success.Mentioned in this episode:Welcome to Missional Money QuickStart

Jim Munchbach Contact PageWatch VideoMentioned in this episode:Missional Money Intro 2023QuickStart

 Investment Scams involving cryptocurrencyAt BayRock, we’re committed to helping you protect your assets. One way we do that is by raising awareness of the increase in fraudulent investment schemes (“scams”) involving cryptocurrencies and digital assets. While investing involves taking some risks, being scammed shouldn’t be one of them. What do Investment Scams look like? Investment scams target investors by promising quick, guaranteed returns. Although “investment sales pitches” vary, using fraudulent cryptocurrency investment opportunities to entice targets is a common approach. Once targeted investors indicate interest, they are often instructed to wire funds abroad or to a third party’s personal account, or to transfer cryptocurrency. Fake websites and/or applications often create the illusion of a legitimate trading or investment platform and gain trust. However, once funds have been transferred, they are difficult to trace and retrieve. Investment Scams 5 Red Flags “Guaranteed” high investment returns, supposedly with little or no risk, and sounding too good to be true.Unlicensed or unregistered sellers. Use Investor.gov to check out the background of anyone offering you an investment in securities.Skyrocketing account values. Investments that appear to rapidly increase in value are often fake.Fake testimonials. Investment Scams or Scammers often pay people to provide fake reviews, so never rely solely on testimonials in making an investment decision.Fake contacts. Take caution if someone approaches you through social media with an investment opportunity. Pretending to be a friend or to have a mutual acquaintance is a common tactic used to gain trust. Schwab Investor ResourcesSet up your account alerts to always get notified when activity occurs in your account.For more security tools and steps you can take, visit our SchwabSafe® to view our latest resources and learn more about how you can safeguard your personal information and assets. And while you’re at it, check out Schwab's Security Knowledge Center.

The 3 Big QuestionsQuickStart Financial Planning course was designed to quickly answer your 3 Big Questions:When can I stop working?How can I reduce my tax bill?Where can I improve my Investments?Build a Better Retirement

ETF Investing and Why We Love to Trade ThemETF Investing is better than Mutual Fund investing, but you do need to learn a few things about ETF investing. If you’re new to trading or just beginning you may have never heard of ETF investing. Let's take a closer look at ETF Investing. Starting with ETFs; what they are, how do they work, the different types of ETFs; the pros and cons of ETFs and how they benefit (or hurt) you as a trader. Much of this post comes from Investopedia.com which is IMO the best source of information for all things investing, including ETF Investing.What is an ETF?The acronym stands for exchange-traded funds. So what does this mean? An ETF represents a basket of assets. Basically, that is a portfolio of stocks, bonds, options, and other tradable assets. that are put together by a professional money manager and put on the stock exchange for investors to buy and sell quickly. When you’re investing in an ETF you’re investing in multiple companies that represent or mirror an index. For example, if you were interested in investing in the S&P 500, you don’t actually invest in the index itself. Instead, you would invest in an ETF that represents a portion of that index. The ETF for the S&P 500 is “SPY”. When investing in SPY, instead of buying all 500 companies that the S&P represents you are participating in that index at a fraction of the cost. There are two main types ETFs, “Market” or “Index” ETFs. Like the name suggests, Market ETFs or Index ETFs replicate the index of a market. There are different ETFs for the different indexes. For example, as talked about earlier, the S&P 500 is known as SPY and the NASDAQ 500 is referenced as QQQ. The second type of ETFs is known as Sector ETFs. These let you invest in specific sectors of the markets such as healthcare, or tech stocks. Like the Index ETFs each sector is represented by a unique ticker. So, for investing in the healthcare sector the ETF would be represented as XLV. What Makes Them Different from Mutual Funds:Although ETFs have basic similarities to the two and can often be very comparable, they do present slight differences. Unlike mutual funds, ETFs can be traded throughout the day versus only being able to trade at market close. They also present lower fees than mutual funds. Generally, mutual funds charge a 1.42% fee while fees on average for ETFs are 0.53%. Further, the total price you pay for ETFs is the share price times the number of shares. Basically, you can’t place an ETF order for a dollar amount as you can’t place a mutual fund order for a number of shares.ETFs take about 3 days to settle versus the 1 day it takes for mutual funds. Lastly, minimum investment price of ETFs and the function of automatic reinvesting. ETFs typically have a very low investment minimum compared to mutual funds, and this price depends on what the price of the share is at the time. 

Happy Independece DayToday is Friday July 1, 2022 and I'm posting this episode of the Missional Money Podcast live on Facebook and YouTube. Hope you’re doing great and getting ready for a big "bang" of a long weekend! I sent out an email to all my friends with a bit of trivia in honor of Independence Day. In case you missed the email, here it is...Did you know it was actually on July 2, 1776, that Congress voted to free the U.S. from British rule? However, it wasn’t until two days later that John Hancock signed the first signature to the Declaration of Independence—the document that would spread the news of the vote.Here's to celebrating freedom on Independence Day - and everyday!Be Blessed!JimCash Flow Planning GuideThe health of every financial plan depends heavily on sound cash flow planning. Creating a cash flow plan is a helpful exercise conducted in the financial planning process. This article was originally posted on our website for BayRock Financial as part of the Inflation Planning series.Cash Flow and InflationWhile we already tend to know what we should be doing with respect to our budget (spending), in reality we often fall short of taking even the most basic steps toward tracking and managing our cash flow. You can have a dramatic long-term impact on your financial future by simply increasing your awareness of your spending habits. One small discipline that can make a big difference is being accountable for every dollar you spend.To help guide you toward creating and managing a cash flow plan that supports your lifestyle and goals, we have created this cash flow planning guide. It covers cash flow planning basics, including:Income sourcesEssential and discretionary spendingDebt and taxesGoal fundingMonitoring strategies High Inflation ChecklistHigh inflation has been on everyone’s mind, and many are wondering what they can do to take action.With this High Inflation Checklist, you can explore ways to address high inflation and set your financial expectations appropriately. Get ahead and be better-prepared as you plan for high inflation in the future.The  high inflation checklist covers key issues to consider when dealing with periods of high inflation, such as:The impact inflation may have on your cash flow and budgeting.The effects of inflation on your assets, and solutions that may be considered to mitigate those effects.Certain tax planning ideas that may be relevant to you in light of high inflation.Other miscellaneous areas of your financial plan that may be affected by high inflation. Market Correction ChecklistThis market correction checklist covers many of the issues to consider during a...

Options Trading Strategies for Managing RiskOne of the tools in my investment management toolbox is Options, specifically Covered Call Options and Naked Put Options. I'm reaching out to a number of my clients to recommend that we set up Options. These two Options Strategies work best in volatile markets like what we've had in 2022. Options provide better risk management while allowing us to create an additional income stream within your IRA Account.Margin and OptionsThis post is specifially for Tax Qualified accounts. We can use additional strategies in Non-Tax Qualified accounts with Margin. Each strategy has its own set of Risk Metrics. In this post, I've grabbed some helpful content from Investopedia, my favorite source for Investor Education.What are Options from InvestopediaOptions are a form of derivative contract that gives buyers of the contracts (the option holders) the right (but not the obligation) to buy or sell a security at a chosen price at some point in the future. Option buyers are charged an amount called a premium by the sellers for such a right. Should market prices be unfavorable for option holders, they will let the option expire worthless and not exercise this right, ensuring that potential losses are not higher than the premium. On the other hand, if the market moves in the direction that makes this right more valuable, it makes use of it.Options are generally divided into "call" and "put" contracts. With a call option, the buyer of the contract purchases the right to buy the underlying asset in the future at a predetermined price, called exercise price or strike price. With a put option, the buyer acquires the right to sell the underlying asset in the future at the predetermined price.