Tue, 12 January 2016
Today, we cover this question from a listener: Joshua, I know you get a lot of questions, but I was wondering if you have a radical way to get out of an upside down car loan. I do financial coaching for people in our church who have requested benevolence, and most of them have large car payments - e.g. Someone owes $25,000 on a car worth $15,000. I cannot find a solution that is good (and maybe there is none). Dave Ramsey says borrow the difference so you have a smaller loan, but by the time someone is requesting benevolence, they cannot qualify for borrowing any more. Other ideas of rolling it into another car loan with incentives aren't great either. It is really the $3,000 in negative equity and more that I am looking to solve for. Any radical ideas? Travis
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Fri, 8 January 2016
Today we continue with our "Early Retirement FAQ" series with Arebelspy by tackling the topic of inflation! How do you manage inflation risk in retirement? And, even more important, how do you manage inflation risk in very early retirement? This topic is especially important to Arebelspy because he and his wife just retired at the age of 30 and are now traveling the world together! (Even cooler, they did it while earning schoolteacher salaries!!!) Enjoy! Joshua
Direct download: RPF0277-Early_Retirement_FAQs-Inflation.mp3
Category:podcast -- posted at: 2:15pm MDT |
Thu, 7 January 2016
Recently I received this personal note from a personal friend of mine: "My wife suggested I reach out to you for advice as we plan to start saving for our soon-to-be-born-son's education. Hard to believe it's going to be just a few weeks now. I've looked into our state's 529 plan, but wasn't sure if there were better options. Any advice would be greatly appreciated." My advice in response was simple: don't set up a college plan for your young child. It's a bad idea and a poor use of money in light of all the other things you can do with money that are better. Interested? Listen. :) Joshua
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Tue, 5 January 2016
I'm excited to launch a brand-new sponsor here in the new year! Our new sponsor is TradeKing. You should be familiar with the TradeKing name--I previously interviewed the CEO, Don Montanaro, on Episode 240 of the show. I sat down with Don in his Ft. Lauderdale office and we talked about the brokerage business and business model. We discussed:
If you'd like to open a trading account with TradeKing, they will give you an extra $100 if you sign up through my tracking link: http://tradeking.com/radical Enjoy the show! Joshua
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Mon, 4 January 2016
One of my major breakthrough moments in life occurred when I learned that success skills were simply that: skills. The same applies to wealth. Success and wealth are not accidents. People are not wealthy by chance, happenstance, or accident. People become wealthy because: 1. They unconsciously learned the knowledge and applied the skills of wealth; or, For me, that concept was incredibly helpful. As we begin a new year, I encourage you to focus on the skills that you need to identify, learn, and perfect during 2016 that will ultimately lead to wealth. Enjoy the show! Joshua
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Fri, 18 December 2015
Hey Radicals, I'm in the process of shutting the show down for 2015 and heading off for the holidays. Before I go, I simply want to share a personal greeting with you and a few quick, encouraging thoughts. Listen to the episode! Merry Christmas to you and yours. May you and your family be richly blessed this holiday season and may 2016 be your best year ever! Love, Joshua |
Thu, 17 December 2015
The skill of budgeting is one of the major skills that drives the level of success you achieve in life. But it's a skill that's not only applicable to money but also to other areas of life. In today's show I share with you my ideas on budgeting:
Enjoy the show! Joshua
Direct download: RPF0273-Budgeting_Time_Money_and_Food.mp3
Category:podcast -- posted at: 2:09pm MDT |
Tue, 15 December 2015
I was honored with a very cool mention in a New York Times article yesterday (link below) and I thought it a perfect time to build on the subject of how to increase your income! In today's show, I share with you my complete framework for increasing your income. The show is heavy on strategy--you'll have to fill in the specific tactics appropriate for your situation. We cover:
Enjoy the show! Joshua Links:
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Fri, 11 December 2015
I enjoy YouTube. But it's tough to find a good personal finance YouTube channel! Thankfully, there's at least one! My guests today are Mike and Lauren. They are awesome personal finance and early retirement YouTube personalities. We were able to connect for an interview at #FinCon15 so that I could bring you their story. Why should you listen? Well, perhaps you'd like to know how they're on track to retire by the age of 30 even though they never made a ton of money or sold a business. It's all here! Enjoy the show! Joshua
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Wed, 9 December 2015
Following up on yesterday's show, I share with you today 9 myths surrounding the topic of home ownership. These are things that I used to believe and I learned (through the process of owning my own home) that I was wrong. Learn from my mistakes and consider how many of the things we commonly believe about home ownership might not be quite so true as we wish! Enjoy! Joshua
Direct download: RPF0270-Myths_and_Facts_of_Home_Ownership.mp3
Category:podcast -- posted at: 12:47pm MDT |
Tue, 8 December 2015
This past Friday we closed on the sale of our house. We owned it for just under three years. When we bought it we had intended to own it for 40 years. Why did we sell? The full story is here in this episode of the show! Check it out and learn from our successes and our failures! Joshua
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Fri, 4 December 2015
Many of us have made mistakes on our way to financial stability. Hopefully we've learned from those mistakes--but wouldn't it be fantastic if we could help the next generation to avoid some of those mistakes? My guest today is Rocky Lalvani. He's a long-time listener of the show, contributor, and Patron. We connected in-person at #FinCon15 and sat down for this interview! Rocky has an awesome immigrant rags-to-riches story that you'll enjoy. He also has a depth of experience in training his children to be financially strong. Enjoy! Joshua
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Wed, 2 December 2015
267-Automate your Spreadsheets and Simplify Your Accounting with Tiller: Interview with Peter Polson
While I was in Charlotte for #FinCon15, I connected briefly with a man named Peter Polson who told me about a new tool he had built to automate the creation of financial spreadsheets. After I got home I signed up for his service and started testing it. I like it! And I think some of you will find it very useful. The Tiller service is a way to automate the import of financial data to your spreadsheets. This eliminates the most time-consuming part of creating spreadsheets and opens up a world of possibilities! Listen to the interview! And, if you'd like, try the service free for two months by using my link: www.tillerhq.com/radical Enjoy! Joshua
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Wed, 25 November 2015
Does being frugal and building financial independence mean that you can't have any fun? And, is it possible to get through college on a budget and still have fun? Today we have a fun discussion with Martin Dasko from the personal finance blog Studenomics. Martin has an awesome approach to teaching young men and women how to build financial independence without missing a party! Enjoy! Joshua
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Tue, 24 November 2015
It's easy to jump into holiday mode, but don't jump just yet! Let's keep our work boots on and learn just a little bit about investing today before we get into the Thanksgiving holiday. My guest today is Rick Ferri, founder of a company called Portfolio Solutions. Rick is a really great guy and a real expert at investing and portfolio construction. You'll hear his detailed background in the show and I think you'll come away from today's episode with a deeper sense of respect for what he's doing. Enjoy! Joshua
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Mon, 23 November 2015
Today on Radical Personal Finance I'm pleased to introduce you to a brand-new sponsor! And, it's a sponsor who will help you save some cash! I've been aware of SoFi for quite awhile and they were high on my list of brainstormed potential sponsors for the show. I was finally able to connect with them at #FinCon15 in Charlotte this year and to hammer out the terms of a sponsorship agreement. SoFi is a very cool new company that is bringing real innovation to the lending space. They got their start by helping people refinance student loans but now they're aggressively expanding to other areas as well. My guest today is one of the co-founders, Dan Macklin. Sit back and enjoy the story of entrepreneurship and industry-changing innovation! Joshua
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Fri, 20 November 2015
During October and November I've been doing a weekly conference call with Patrons of the show. We've been talking about all kinds of interesting subjects! On today's call we chatted about:
Enjoy! Joshua
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Thu, 19 November 2015
We talk a lot about diversification within the context of investments. But what about diversification of your income? After all, how risky is it for you to depend on a single source of income to fund your life and lifestyle? The paradox is this: the more specialized you become in your career, the more you can earn. But the more specialized you are, the riskier your income is! The challenge is for us to figure out how to reconcile these two things. Today, I share my thoughts on the subject with you. Enjoy! Joshua
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Tue, 17 November 2015
BiggerPockets.com is the largest real estate resource online--perhaps in the world. Today we have Josh Dorkin, the founder of Bigger Pockets, on the show to share the story with us. The story is a classic case of an entrepreneurial endeavor gone well. Sit back, pay attention, and learn the lessons and themes of how one person went from struggling real estate investor to become king of a real estate empire. Enjoy! Joshua
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Mon, 16 November 2015
The word "trust" has a bit of a mystique in the modern financial world. It's a word that everyone knows (we all know a "trust fund kid") but few people understand and even fewer understand accurately. Trusts are both simple and complex. They're simple in concept but can be quite complex in application. Today I share with you some basic background on trusts and trust planning. I also share with you some thoughts regarding the use of a revocable living trust within the context of your personal estate planning. Enjoy the show! Joshua
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Fri, 13 November 2015
Wouldn't it be cool if you could work really hard for a few years, save aggressively, and then quit your job and travel the world? Today's guest has done just that. Today I have Brandon, the Mad Fientist, and his wife Jill on the show! Brandon recently hit his Financial Independence number and he and Jill hit the road for some long-term travel. Enjoy this interview where we dig into what's great about financial independence and what ain't so great. Enjoy! Joshua
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Tue, 10 November 2015
I'm thrilled to bring Jay Fleischman back on the show. Jay was a guest on Episode 214 of the show and it was a popular show and I received a lot of great feedback. Most importantly, I learned a ton from the interview! Today, Jay and I tackle the actual process of analysis. If you have student loans, Jay gives you the step-by-step action plan for what you need to do in order to analyze your options. We're also launching Jay as the newest sponsor of Radical Personal Finance. He's a perfect fit for a sponsor and I think he'll be able to serve you in some really wonderful ways. Listen to the show. Then:
Enjoy the show! Joshua |
Fri, 6 November 2015
Ever wondered about the basics of estate planning? Today's show is a simple overview of the major estate planning documents. We talk about wills, living wills, and powers of attorney and discuss what they mean and why they're important. This is not a technical deep-dive; this is a light and friendly overview. Enjoy the show! Joshua
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Thu, 5 November 2015
Many of us are focused on the primary goal of transitioning from work that doesn't suit us to work that does. After all, if we can solve the work conundrum, our lifestyle can be massively improved even if we're not yet rich! My guest today is Jeff Goins and he has blazed the trail ahead of us and has successfully made the transition to a career he loves. Even better, he's written a book on how you can do the same thing! Enjoy the interview and the learning! Joshua
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Wed, 4 November 2015
It happens to so many people: your car breaks down at an inconvenient time and you're facing a massive repair bill. The stress starts to mount and you find yourself wondering--should I just go out and buy a new one? Or, sometimes worse, you feel like every other week you're flushing money down the drain to fix your car and you're getting tired of it. Feeling totally frustrated, you're tempted to trot out and assuage the headache with a new car. Should you do it? How should you try to assess your options and make the decision? That's the question I tackle in today's show. Listen in and let me know what you think! Joshua
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Mon, 2 November 2015
I had the opportunity to connect with JD Roth, one of the most well-known personal finance bloggers in the industry while I was in Charlotte, NC at #FinCon15. We had a great interview. We talked in detail about JD's personal story with finance and how he set out to Get Rich Slowly--and wound up getting rich fast. We also talk about the great things and not-so-great things that resulted from the journey! Enjoy the interview! Joshua
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Tue, 27 October 2015
Today I'm sharing with you the audio from the live conference call I recently hosted for all the Patrons of Radical Personal Finance. This was a super-fun experience for me! Having the live interaction was fun. Topics included:
Enjoy! Joshua
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Mon, 26 October 2015
Shannon McLay from the "Martinis and Your Money" podcast invited me on her show last month to talk about life insurance as part of "Life Insurance Awareness" month. Enjoy this interview with me where I share all of my advice and thoughts about how to approach the life insurance situation. The original interview with Shannon appears on her site here: http://financially-blonde.com/radical-thoughts-on-life-insurance/ Joshua |
Thu, 22 October 2015
Have you ever thought about writing a book? If you have, you're part of the 80% of Americans that dream of doing just that! But how do you go about it? And, perhaps more importantly, why should you consider it? Today I present to you an interview with my personal publishing coach, Patrick Snow. Patrick is an international best-selling author, professional speaker, publishing, speaking, and book marketing coach. He's already been tremendously helpful to me as I work on my first book and I look forward to continuing to work with him! Enjoy this episode where we talk about the business of writing and why you should write and publish a book. Enjoy! Joshua
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Tue, 20 October 2015
Let's put our work boots on today and dig into some of the science of financial planning. We've been doing a lot of fluffy, motivational-type stuff on Radical Personal Finance recently. That stuff is really valuable but it needs to be tempered with some serious knowledge. Today, let's talk about annuities. Annuities get a bad rap in the financial marketplace. And rightly so. They've been shamefully misrepresented, oversold, and abused by many insurance agents. But do they have a place? Can they be an incredibly useful tool in the toolbelt of a good financial planner? I believe so. In today's show I work to share with you some background and structure about annuities. This will help you to understand the words involved and the different product structures available. We talk about:
Enjoy the show! Joshua
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Mon, 19 October 2015
We've generally been trained how to think about finance by the financial services industry. Their plan for your finances? Well, each step involves a financial product of some sort or another. But what if we think a little more strategically? Could we get better results? I think so. After speaking with today's guest, Doug Goldstein, I think that the metaphor of chess is a good way to train our thinking. Doug is the co-author of a book titled: Rich as a King: How the Wisdom of Chess Can Make You a Grandmaster of Investing. Enjoy this interview as we discuss how to approach finances like a chess game! Joshua Links:
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Wed, 14 October 2015
One of the benefits that $200/mo. Patrons of Radical Personal Finance get is being able to choose a topic of the show. Here's the note that prompted today's episode: Joshua, Double income medium- to high-earning couples frequently ask me how to lower their taxes (the second income is at a higher rate of >28%, plus state 3.75% and social security 7.65 or 40% all in). I'm assuming I'm missing things. What do you have to say on the subject? One reason my wife doesn't work is that its not worth it. Thanks, Patron Today's episode includes my response and advice for how couples can approach this conundrum! Joshua
Direct download: RPF0249-Tax_Reduction_for_Dual_Income_Couples.mp3
Category:podcast -- posted at: 12:06pm MDT |
Tue, 6 October 2015
The most challenging question that I get asked on Radical Personal Finance is this: "Joshua, how do I find a great financial advisor?" It's hard because there are great advisors at most (all?) firms and there are terrible advisors at most (all?) firms. More importantly, there are different advisors for different stages of life and different levels of need. Unfortunately, all these get lumped together under the term "financial advisor," which is, itself, a non-specific and mostly useless term which could refer to any number of job descriptions. However, I still try to answer the question. And today, I'm working to answer it with a new sponsor: Paladin Registry. This show is an interview with Jack Waymire, the founder of Paladin Registry and it contains an in-depth interview discussing the challenges and process of finding a great financial advisor. Enjoy the show! Joshua
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Fri, 2 October 2015
After a way-too-long hiatus, Friday Q&A is back! On today's show, we cover:
Enjoy! Joshua
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Thu, 1 October 2015
Sometimes you discover something that's been out there for years and you want to smack yourself in the head for not tuning in to it sooner. That's how I feel when it comes to YNAB. (For the uninitiated YNAB stands for You Need A Budget.) I was reintroduced to YNAB by my own listeners (the full story is in this episode) and today I'm thrilled to introduce YNAB as a sponsor of Radical Personal Finance! Check out this interview with Jesse Mecham, the founder of YNAB for an introduction to him, his story, and the YNAB company. It's a super interesting story of entrepreneurship, growth, and the creation of an awesome product which fits a real need that most of us have. Enjoy! Joshua
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Fri, 25 September 2015
I love to talk with people who have achieved financial independence. But I especially love to talk to those financially independent people who have achieved it in a very accessible way! Frankly, it's hard to relate to a tech titan who sells their latest greatest app company for a billion dollars. But I can relate to someone who has simply worked hard, saved aggressively, invested conservatively, built an entrepreneurial side hustle and achieved their results over time! My guest today is Scott Alan Turner and he's done exactly that. Sit back, relax, and enjoy his story! And make sure to take special note of how you can copy and model him and his success. Enjoy! Joshua
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Thu, 24 September 2015
When I was younger my brothers and I spent lots of time talking about how to make our millions of dollars with passive income. Two businesses seem to be prominent when you go down that line of thinking as a young person: car washes and vending machines. We didn't pursue either of those businesses. But much later I did wind up working with some clients who had a vending business. And I was intrigued by their business. My guest today is a vending expert. Matt Miller started his vending business the hard way and built it slowly. Over time, he wound up finding a new niche for his vending products: stickers. He's since gone on to create a franchise to teach others how to do what he has done. Enjoy his wisdom, experience, and insight! Joshua
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Wed, 23 September 2015
Interpersonal skills of relationship are a huge deal and your mastery of them will massively impact your level of success in life. All else being equal, people would rather do business with people they know, like, and trust. All else NOT being equal, people would STILL rather do business with people they know, like, and trust! So, this is an area that we should give attention to. My guest today has devoted years to studying, mastering, and teaching interpersonal skills. Jordan Harbinger is the co-founder of the highly successful Art of Charm. I caught up with him at Podcast Movement 2015 and invited him on the show to share some lessons with us. He delivered. Enjoy the interview! Joshua
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Tue, 22 September 2015
Money in marriage is an extremely challenging area of life. Researchers often say that money fights and money problems is the number one cause of marital stress. My guest today is Derek Olsen. He and his wife Carrie have written a book called "One Bed, One Bank Account: Better Conversations on Marriage and Money." I was able to catch up with him at Podcast Movement 2015 where we dug into the major questions of how to handle money together. Make sure to stay tuned at the end of the episode. There's a 30-minute bonus episode on the radical lifestyle that they are living! Joshua Links:
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Mon, 21 September 2015
I had the opportunity to sit down with Casey Lewis while I was in Fort Worth, Texas a couple months ago. Casey has worked his way through his own money transformation and he has a lot of experience and wisdom to share about the process. Along the way, we discuss:
Enjoy! Joshua
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Sat, 19 September 2015
I'm here at #FinCon15 in Charlotte, NC this week and I had the privelege of interviewing Don Montanaro, the CEO (and co-founder) of TradeKing! We recorded this episode live on the #FinCon15 podcasting stage on September 18, 2015. We cover the details of:
Enjoy! Joshua
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Thu, 17 September 2015
It might seem like the only way to make money in today's world is to create and sell a digital product. It's not. Frankly, the physical product world is probably much less crowded than the digital world! My guest today is Andreea Ayers. She is awesome. She created a business that made and sold yoga-themed tshirts. Then, she created a business that sold soaps. Now, she's taken her success and experience with her own brands and turned it into a consulting business where she helps others to duplicate her success. It's a super fun interview. Enjoy! Joshua Links:
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Thu, 17 September 2015
I love to bring financial advisors onto Radical Personal Finance in order to break down the barriers of communication between advisors and the general public. Katie Brewer is a financial planner based in Texas. She specializes in working with Gen X and Gen Y clients. I invited her onto the show to dig into what's different about planning for Gen X and Gen Y clients as compared to the general public. Also, I grilled her on the reality of what it's like to actually build a financial planning practice from scratch. Enjoy! Joshua
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Mon, 14 September 2015
My guest today is Anthony Tran. Anthony is the Founder of Marketing Access Pass, an All-in-One Online Marketing Training and Services website. Enjoy! Joshua
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Fri, 11 September 2015
236-Another Financial Advisor Turned Podcaster! Interview With Joe Saul-Sehy from Stacking Benjamins
I'm not the only former financial advisor who became a podcaster. My friend Joe Saul-Sehy has trod the same path! We had the opportunity to catch up at the Podcast Movement conference and we were able to talk shop about the financial advisory business. Enjoy! Joshua
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Thu, 10 September 2015
I met Aaron Walker at the Podcast Movement Conference in Fort Worth last month. After listening a bit to his story, I immediately invited him onto the show to share some of his experience with us. Aaron is a serial entrepreneur. He's developed pawn stores, built homes, and run coaching groups. Interestingly, he's a long-time member of a study group with Dave Ramsey, Ken Abraham, Dan Miller as well as some other notable Nashville businessmen. This leads to some interesting insight into some of those gentlemen! Enjoy the show! Joshua
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Tue, 1 September 2015
I met Bryan Norris at the Podcast Movement conference in Fort Worth, Texas. I'm glad I did. Brian is a professional numismatist and a real expert in rare coins and money. Numismatic coins are an interest of mine and I was thrilled to bring him on the show. We cover:
Enjoy this one! Joshua
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Mon, 31 August 2015
Happy Monday, Radicals! This morning I want to share a few experiences I'm grateful for and use it as an opportunity to encourage you as you begin your week. I've been tremendously blessed over the past weeks by many friends and family members who have volunteered their time and talents to help me in my time of need. I'll never be able to repay them. And yet, if an opportunity arises, I will work to repay them because I now have social debt. And, I'll be happy to work to repay them. In today's show I share with you some simple thoughts around the social giving economy and some encouragement for you to focus on being a "Go-Giver" towards others. It's a character trait that may help you tremendously in your time of need. Enjoy! Joshua
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Thu, 27 August 2015
Climbing the corporate ladder is time-tested and proven path to income and impact. And the cool thing about this approach to career success is that you can begin where you are and simply start working the process. My guest today did just that. Lee Cockerell started with few advantages. After a stint in the military he took a job as a waiter in a Hilton hotel and went to work. He finished his 41-year corporate career as the Executive Vice President of Operations for Walt Disney World responsible for 40,000 cast members. After retiring from the corporate world he transitioned to teaching leadership and sharing the principles of success that he has learned with others. Lee is a dynamic guy and a wealth of information and inspiration. Enjoy the interview! Joshua
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Tue, 25 August 2015
Over the last few days global securities markets have been rocked with massive losses. Naturally, times like this should cause us to seriously consider our investment strategy and take a look to see what the appropriate response might be. Many of us have a significant amount of our life savings invested in public securities markets and it can be frightening to see the impact of the declines in market prices. But what should we do? In this episode I share with you some ideas and ways of thinking which you can apply to your situation. Take a few moments to consider the input and assess your personal strategy. Enjoy! Joshua
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Thu, 13 August 2015
I love hearing entrepreneurship stories because they speak to me of people who clarify what they want and pursue it aggressively. Vision is required for you to be willing to leave the bed of employment where things are comfortable and warm and pursue the rocky world of entrepreneurship. The road isn't easy. But it can be easier if you will build a financial foundation underneath you before you launch. My guest today is Cliff Ravenscraft, best known as the Podcast Answer Man. Cliff has an amazing entrepreneurial story and today I get to bring it to you in great detail. Cliff openly shares where and how he started and the steps that he has taken to bring him to his current level of financial success. Pay attention: he's experienced the joy of living on the $11,000 of profit he earned in his first year (not easy to live on that amount) and the joy of earning over $500,000 gross income last year. Learn from his story. Enjoy! Joshua
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Wed, 12 August 2015
Effective tomorrow, 8/13/15, the global headquarters of Radical Personal Finance will be moving! I'm about to start unplugging my computers and microphone but I wanted to make sure to ship today's show before doing that. So, I decided to share with you how I've approcahed this decision to move. I think it will be helpful for you to consider how to Think Slow, Move Fast, and Prioritize Your Life. Now, time will tell if it worked for me or not! :) Joshua
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Tue, 11 August 2015
228-How and Why to Buy a Car for Cash: Interview with James Kinson from the Cash Car Convert Podcast
At the recent Podcast Movement conference in Fort Worth, Texas, I had the opportunity to connect with James Kinson, host of the Cash Car Convert podcast. James has a fun story to share and some great lessons to teach. He's a long-time car guy who got the debt-free religion and changed his car-buying habits. To his delight, he's wound up a good deal richer than ever before! He's got some great lessons to share and in this show we discuss:
Enjoy the show! Joshua
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Mon, 10 August 2015
As we head into the back-to-school season in the United States, I've been thinking a lot about the value of college and I've come up with a framework that I think will be useful to you. I see the 5 major benefits of college as these:
It's helpful to identify these benefits. But it's more important to understand how to manipulate the system to maximize your opportunities with each of them. Once you understand, you can design your own radical path to success. Enjoy the show! Joshua
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Thu, 6 August 2015
I recently returned from the Podcast Movement Conference in Fort Worth, Texas. While I was there I had the opportunity to interview Danny Peña the day before he was inducted into the Podcasters Hall of Fame. For the last ten years, Danny has built Gamertag Radio into a major voice of influence in the video game industry. And, he's built a business out of a passion. Listen to the interview to hear:
Enjoy, Joshua Links:
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Fri, 31 July 2015
"Eat That Frog! 21 Great Ways to Stop Procrastinating and Get More Done in Less Time" by Brian Tracy is an absolute goldmine of a book. Without question, this is a 5-star book. Before you read it though, it's important for you to understand what it is and what it isn't. It's not a deep-dive treatise of productivity systems; rather, it's an overview of the core principles of productivity that you need in order to organize your life around accomplishing more, meaningful things that will move you toward your goals. It's short, fast, and pithy. Tracy begins with the big picture focus of making sure you're doing the right things--planning the things to do that directly tie to your goals and things that are going to have the biggest impact on your achievement of those goals. Then he continues with the practical suggestions to help you actually do those things. Here's my recommendation: get the audiobook version and listen to it on the first of every month for the next 60 months. Even if you did nothing else for your personal development and improvement it would be enough to catapult you into the upper tiers of your company and career. Enjoy! Joshua
Direct download: Short_Book_Review-Eat_That_Frog_by_Brian_Tracy.mp3
Category:podcast -- posted at: 6:00am MDT |
Thu, 30 July 2015
I'm not able to record and release a show for you today so I'm releasing an interview that I gave on the Voluntary Life podcast with Jake Desyllas regarding Tax Strategies and Financial Freedom. This is Part 2 of a 2-part series. The interview was originally released on June 21, 2015. Enjoy! Joshua
Direct download: TVL_E210_joshua_sheats_interview_part_2.mp3
Category:podcast -- posted at: 3:00am MDT |
Wed, 29 July 2015
I'm not able to record and release a show for you today so I'm releasing an interview that I gave on the Voluntary Life podcast with Jake Desyllas regarding Tax Strategies and Financial Freedom. This is Part 1 of a 2-part series. The interview was originally released on July 14, 2015. Enjoy! Joshua
Direct download: TVL_E209_joshua_sheats_interview_part_1.mp3
Category:podcast -- posted at: 3:00pm MDT |
Wed, 29 July 2015
Good morning, Radicals! Two quick announcements for you this morning:
Have a great weekend! Joshua
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Fri, 24 July 2015
(audio from a video book review) All else being equal, people would rather spend time with, work with, buy from, and help those that they like. The skill of being likeable and helping people to like you is thus a very useful life skill and can be an important component of your success toolbox. Boothman establishes two beautiful aspects to being likeable: 1. It’s a learned skill. This means that no matter who you are and where you’re starting from, you can improve and develop your skills so that others like you more and more quickly. 2. It’s an honest and ethical practice. Even though the title has the typical “self-help schmarminess,” there is nothing tricky or conniving about the tools and tactics in the book. You would want everyone in your life to understand the concepts of this book and to practice them continually in their relationship with you. Ultimately, likeability largely boils down to active listening and we all crave friends who are careful, active listeners. This book is not deep. Boothman doesn’t dig into science research or discuss a lot of history. Rather, it’s useful and practical. You can immediately learn and apply the content. I appreciate that! I listened to the audiobook version and I enjoyed listening to it in the author’s own voice. He does an excellent job conveying the emotion and tone of his work. However, I purchased the written version so that I would be able to access the outline and notes for reference and so that I could do some of the exercises contained within it. The book was published in 2000, so there are plenty of used copies available for $0.01. Also, the Kindle version is a downright bargain at $2.51! http://amzn.to/1LW3D2z Enjoy the book! Joshua
Direct download: Short_Book_Review-How_to_Make_People_Like_You_in_90_Seconds_or_Less_by_Nicholas_Boothman.mp3
Category:podcast -- posted at: 7:15am MDT |
Fri, 24 July 2015
I've got a very special interview for you today with Tom Corley. Tom is an accountant and financial planner by trade. He began interviewing his wealthy clients to try to understand what they do differently than other people. Over time, his research expanded to additional interviews with poor people in an attempt to understand their lifestyles and habits. This research formed the foundation for his first book, "Rich Habits: The Daily Success Habits of Wealthy Individuals." After a slow start, the book gained traction and attention and he followed it with his next book, "Rich Kids: How to Raise Our Children to be Happy and Successful in Life." But what I found most interesting was Tom's personal story. Through the course of the interview, you'll hear me draw out the parallels between Tom's personal life and his books. I'll also draw out how his life has changed as he began to implement the rich habits that he learned from his wealthy interviewees. Enjoy! Joshua
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Tue, 21 July 2015
My guest today is Steve from Steveonomics.com. Steve is a long-time listener to the show and he and his wife are aggressively pursuing their own plan for financial independence by 40. I invited Steve on the show because he is also a lover of fine mens' fashion. He's able to integrate the principles of wise and careful shopping to build a luxurious wardrobe for himself without damaging his prospects for wealth accumulation. Steve shares:
Enjoy the show! Joshua
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Mon, 20 July 2015
We've hit a huge milestone in Radical Personal Finance history! We've reached 201 patrons and $2,001.50 of monthly support for Radical Personal Finance! This is super, super thrilling and I thank each and every one of you for your support. I'm going to be changing the format of the show a bit going forward. I'll be doing fewer long-format shows so that the long-format shows I do release are much deeper and more comprehensive. In their place, I'll be releasing more short-format content into the podcast feed including audio from the YouTube channel. Here's what you can do:
Enjoy the episode! Joshua
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Thu, 16 July 2015
My guest today is Steve Stewart. Steve's story to me is very interesting because in many ways he was the archetypal American financial story. A normal guy with a normal financial life. However, inspired by Dave Ramsey's influence, he decided to get serious about getting out of debt. Tune in to the interview to hear the incredible impact of that decision on his life! What most intrigues me about Steve's story is how his decisions to get out of debt have had a massive impact on the rest of his life and his ability to pursue entrepreneurship and build a life he loves enough not to retire from. Enjoy the show! Joshua
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Wed, 15 July 2015
There are many ways to budget. All of us need to find a solution that is effective for us. And that solution will probably change as our situation changes. Here is a very simple method of budgeting. It requires only:
Details are in the show! Joshua
Direct download: RPF0221-Budgeting_When_Behind_on_Bills.mp3
Category:podcast -- posted at: 10:00am MDT |
Tue, 14 July 2015
My guest today is Joan Sotkin. Joan has a fascinating story of avoiding money, then embracing business and earning massively, then losing it all, then rebuilding again.
Enjoy the show! Joshua
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Mon, 13 July 2015
I love audiobooks. I find them to be an incredibly efficient way to learn and an incredibly productive way to use my time. In today's show I share with you my pro-tips for how to effectively integrate audiobooks into your educational plan. I also share with you my analysis of the audiobook marketplace and how you can get the best deals for yourself. I analyze:
Enjoy! Joshua
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Tue, 7 July 2015
I'm thrilled to share with you an interview with JB Glossinger, the Morning Coach. I met JB at a Podcast South Florida meetup event and immediately invited him on the show. JB has a really unique background. After building a career in the corporate world and finishing his MBA and PhD he realized that he was in the wrong field to fulfill his personal happiness. He pivoted and established MorningCoach.com, a top-ranked personal development community. With Morning Coach as his foundational platform, he's gone on to build a tremendous business that provides him with the time and money for his dream lifestyle. Topics include:
Enjoy! Joshua
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Mon, 6 July 2015
I used to think that everyone knew how to make decisions. Since starting Radical Personal Finance I've come to learn that some people don't have a clear decision-making framework. Today, I share with you a dirt-simple framework of costs vs. benefits, plusses and minusses. In sales, it's called the Ben Franklin close. Use it. Write it down. Joshua
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Thu, 2 July 2015
Much of our life is lived on autopilot. We generally handle most things by habit. One powerful way to improve the likelihood of achieving your goals is to focus on establishing some simple little habits that will automatically help them to happen! Enjoy. Joshua
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Wed, 1 July 2015
I spend a lot of time talking to people about their goals. But I notice that many times people confuse their goals and the means to the goals. This could be a serious setback to your plans. You might spend years chasing a goal that really isn't the true goal. Get clear! Joshua
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Tue, 30 June 2015
Student loans are a way of life for much of the US American population. Often considered to be "good debt" because the college degree can lead to higher earnings, they are, nevertheless, still debt. And they're debt that must be dealt with! My guest today is Jay Fleischman. Jay is a bankruptcy attorney who specializes in handling student loan issues. He's a world-class expert in this space. You're going to love listening to this show. I took pages of notes during our conversation and I recommend you do to. We cover:
Enjoy! Joshua
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Mon, 29 June 2015
Today I'm pleased to share with you an interview with Lauren Bowling from LBeeAndTheMoneyTree.com! Lauren has a really interesting story surrounding personal finance: After getting her degree in theater, and racking up thousands of dollars in credit card debt in college, she moved to New York City with $300 in her pocket. While there she landed a sweet job on Wall Street which sparked her interest in personal finance and helped her kick her bad money habits for good. Three years, three cities, one home purchase, and nearly 2,000 blog posts later, Bowling is an expert at mastering tricky post-college finances. In addition to blogging on L Bee and the Money Tree (LBMT), Bowling is the host of the award-winning internet talk show, Awkward Money Chat. Bowling’s writing has been seen on Business Insider, Forbes.com, Learnvest, Yahoo! Finance, and The Huffington Post. As a source, Lauren’s expertise has also been featured in such notable publications as Redbook Magazine, HGTV Frontdoor.com, and Daily Worth (See here for the full list.) She spends her free time renovating her first home, enjoying good wine while avoiding the kitchen, and “killing it” at karaoke. She’s even been known to act in a musical or two. By day Bowling works full time in marketing and resides in Atlanta, Georgia. Enjoy the show! Joshua
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Fri, 26 June 2015
Hey Radicals! Just a quick announcement show for you--our little baby girl was born early Friday morning. Baby and momma are both doing great and we are enjoying transitioning to our larger family! We're super thankful and beyond excited that she is here. I also thought it would be fun to invite my wife to chat a little bit about her childbirth experience. This isn't related to personal finance--it's just related to the RPF life! If you'd like to hear some of her comments on how we prepared for childbirth, check out the show! Rejoice with us! Joshua & Tiffany p.s., if you'd like to see pictures, please feel free to connect with me on Facebook: https://www.facebook.com/joshuasheats |
Thu, 25 June 2015
One of the most fundamental transformations of our modern time is taking place in the field of communication. Although it might feel like we're far into this change, we're really not. It's only just begun One of the most important effects of this change is that very small businesses--like financial advisors--can effectively market to the broader market at a very low cost. My guest today is an expert in this field. Bill Winterberg is the founder of FPPad.com. Bill founded FPPad in 2008 to be a leading source of news, insight, and thought leadership in financial planning technology. Bill has successfully leveraged his experience in the financial industry and his applied knowledge in medial creation to build a neat consulting and speaking business for himself. Pay special attention to the content of this interview if you're involved in the financial services industry. But also pay careful attention to this interview if you are involved in any business or industry! These trends are affecting you. Enjoy! Joshua Links:
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Wed, 24 June 2015
Our value and contribution in this world will be directly impacted by the level of our education. It's impossible to create more value without more education. (Yes, there are many kinds of education. I'm using the word inclusively.) But, under what system and whose goals have we been educated? Unfortunately, many of us have been educated under a system that promotes someone else's goals over our own. Too few of us know how to sit down and design an educational path that will take us closer to our goals. In today's show, I share with you a number of important ideas including:
Enjoy the show! Joshua If you enjoy today's show, please:
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Tue, 23 June 2015
Today, I welcome Doug Nordman back to the show! Doug is an early retiree (he retired at 41) and his hobby is helping other military personnel improve their financial lives. One of the more interesting aspects of Doug's financial life is his involvement in private business as an angel investor. He's not only involved with the community of investors near him in Hawaii, he's also committed a substantial amount of his savings toward his investments. In this interview you'll learn:
You'll also learn how to make the decision of rent vs. buy when considering where to live. Enjoy! Joshua Links:
Direct download: RPF0209-Doug_Nordman_on_Angel_Investing.mp3
Category:podcast -- posted at: 3:02pm MDT |
Mon, 22 June 2015
Many people would like to earn more money. But, few people know how to actually look at their situation to assess their opportunities to actually do so. In today's show I share with you the framework that I use to think about money. It's simple but effective. And, most importantly, it's exclusively focused on the things you can actually do and change. It's practical and immediately actionable. Listen to the show to hear:
Enjoy! Joshua Links:
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Thu, 18 June 2015
Hey amigos! Today is my 30th birthday! I'm having an incredible day celebrating with my family and friends. This audio is a short clip from a Jim Rohn speech. I keep it on my desktop and listen to it at least a couple of times per week. This is the succinct message that I would like to share with you to celebrate my birthday. I hope you enjoy it as much as I do. Talk soon, Joshua
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Mon, 8 June 2015
Hey Radicals! Just a quick announcement episode to share that the show will be taking a quick summer break for a few days. I have some show-related work to handle and I can't get it done and still continue producing content this week. Also, please expect the shows to be slighly more sporadic during the month of June...details in the audio! Joshua
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Fri, 29 May 2015
Q&A today and I handle these four questions!
Enjoy the show! Joshua
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Thu, 28 May 2015
One of my goals for Radical Personal Finance is to bring more transparency to the world of professional finance. Today, I'm glad to shine the light on the life insurance industry. I've invited a friend of mine onto the show to discuss his 30-year career as a life insurance broker. Todd Simpson CLU®, ChFC® is a veteran of the life insurance business. His specialty is high-risk underwriting, so he brings not only a long career's worth of experience but also a unique perspective to the difficult-to-place cases. I think you'll really enjoy this conversation. We cover:
Enjoy the show, Joshua
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Wed, 27 May 2015
Many of find ourselves in a situation where we are concerned about the financial well-being of our parents. Obviously, we'd like to help, if possible. But, this is rarely easy. There are many, many challenges that can emerge. In essence, to truly answer these questions you'd not only have to have all of the skills of a financial planner, but also the background of a relationship counselor, a life coach, and more! It ain't easy! I created this show as an overview of ideas that may be able to help you get involved and to help your parents. Some of the ideas are technical financial suggestions, others are more practical and relationship-oriented. The show is structured around:
I hope it's useful to you! Joshua
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Tue, 26 May 2015
My guest today is a author named Matthew Bracken. Matthew is a sailor, writer, and former Navy Seal. He's the author of four novels (all of which I've thoroughly enjoyed.) Most importantly for our purposes, he is an expert on the topic of achieving a lifestyle of freedom through sailing. He wrote an excellent essay called "Get Yourself a 30-Footer and Go!" which advocates a quick entry into the sailing world as a way to build economic opportunity for yourself. During the course of the interview, we cover three primary topics:
Enjoy the show! Joshua Links:
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Fri, 22 May 2015
201-Friday Q&A: My Parents Just Bought an Annuity...How Do I Help and How To Invest An Extra $20,000
Q&A show today and I answer these two questions for you:
Enjoy the show! Joshua
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Thu, 21 May 2015
From time to time, I receive questions from listeners about the equipment that I use to produce my show. I also get questions about the mistakes I've made and what I would do differently if I were to do it over again. Today, I share the workflow that I use to create my show and some of the lessons I've learned in 200 episodes of podcasting. This show does not contain any specific financial planning or personal finance content. It does include a discussion of my thought process in creating the show and how I selected my Unique Selling Proposition for the show. Resources mentioned:
Enjoy the show! Joshua
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Wed, 20 May 2015
Today, we continue the life insurance series with the valuable background of whole life insurance. Exciting stuff! This show is an introduction to the various product features and design ideas. We cover:
Enjoy the show! Joshua
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Tue, 19 May 2015
I received a question from a listner which I decided to answer for you on today's show:
So, today I tackled the question! Be prepared...my answer is a bit different from many people's answers to this question. I do share very specifically with you what I would do. I share what I would buy and what I would invest in. But, I felt it was important to go ahead and address a few of the reasons why I feel the way I do. This show is very personal to me and it involves a lot of how I see the world. I hope you enjoy it! The show is divided into three parts. Feel free to pick and choose if you want to, but give it a shot listening straight through:
Enjoy! Joshua
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Mon, 18 May 2015
Today, I have a tightly focused show for you with a few key points from the CFP® Board curriculum. You will need this information on the CFP® Board exam and it will be useful for you as an individual. First, I share with you how to choose between needing a 3-month emergency fund and a 6-month emergency fund. Next, I share with you the manageable percentages of your income which you can allocate to debt payments. Enjoy! Joshua
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Fri, 15 May 2015
Today, I'm cleaning out the voicemail inbox for my Friday Q&A show. Here are the questions for today:
Enjoy! Joshua
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Thu, 14 May 2015
How much do you spend each year on fuel costs for your car? What is your current mileage per gallon? Before you rush out and buy a new hybrid to save money on gas, consider improving your driving techniques. It doesn't cost you anything except attention and focus and it can make a substantial difference. As an example, check out this guy who got his 3/4 ton pickup truck from an EPA estimate of 15 mpg to almost 60 mpg! In today's show I feature 109 tips for more efficient driving. These tips come from the good folks at the Ecomodder forum. Listen to (or read) the list, choose a couple of techniques and start practicing! Enjoy the savings and put the money to work elsewhere in your life! Joshua
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Wed, 13 May 2015
Today, we finish out the 3-part series on preparing for layoffs in the coming recession. Today's show will be useful to you, even if you just got notice of your layoff and didn't do anything to prepare for it beforehand. The major theme of today's show is that you need to take appropriate action with appropriate speed. If you're stuck with little savings and no preparation, that means take massive action, now! If you've planned a bit better in advance, it means be strategic and thoughtful. We discuss:
Enjoy! Joshua
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Tue, 12 May 2015
Yesterday, we talked about ways to avoid losing your job in the coming recession. But obviously there are factors beyond your control which might result in your being laid off, even though you've done everything "right." So, you need a backup plan. Don't wait and wonder what you'll do. Make a simple plan now for what you'll do. Think about some different scenarios and play some mental games with yourself. That way, you'll be able to better respond to events instead of being shell-shocked by them.
Enjoy! Joshua
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Mon, 11 May 2015
For most of us, our jobs are the economic engine that drive every aspect of our financial plan. One of the worst things that can happen is to lose a job. If the engine on your car dies, you're going to be stuck by the side of the road for a while. That's not pleasant for anyone, even if you're stuck in a safe area. But, if you're driving up a mountain (paying off debt and digging yourself out of a hole), having your engine die can be disastrous. And, if you have a destination in mind (financial independence), losing the engine in your car will at least delay you from reaching your destination. So, the key is plan in advance to not lose the engine. Make sure you're doing the things you need to be doing now to avoid being laid off. Obviously, you can't guarantee that you'll never be laid off, but you can do a lot to improve your possibilities! On today's show, we cover:
Enjoy the show! Joshua |
Fri, 8 May 2015
Today, I handle these four questions:
Enjoy the show! Joshua
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Thu, 7 May 2015
Today we dig into the topic of trading stocks. And who better to speak with than the guy who started a "university" to teach the subject? My guest today is Steve Burns, founder of www.NewTraderU.com. Here's some background about Steve, directly from his About page: "After a lifelong fascination with financial markets, Steve Burns started investing in 1993, and trading his own accounts in 1995. It was love at first trade. A natural teacher with a unique ability to cut through the bull and make complex ideas simple, Steve took to blogging and social media by founding New Trader U in 2011. "Since then, New Trader U has attracted hundreds of thousands of visits a month, becoming the go-to resource for people wanting to build a strong, trading foundation. New Trader U offers an extensive blog resource with more than 1,000 original articles (Steve posts daily). "Asked daily if he could mentor, Steve realized that there weren’t enough hours in the day to give everyone the attention they deserved, so New Trader 101 was born. Developed to help beginning traders survive their first year in the markets, New Trader 101 quickly became Steve’s passion." The interview covers:
Enjoy the show! Joshua
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Wed, 6 May 2015
Today we continue our life insurance series dig into the topic of term life insurance. Term life insurance is an incredible financial product and extremely useful. It also has some options that are not commonly understood or explored. We discuss:
Enjoy! Joshua
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Tue, 5 May 2015
I'm not able to record and release a show for you today so I'm releasing an interview that I gave on the Work Strong America podcast with Rick Seigmund. This interview was originally released on Rick's show on February 4, 2015. Enjoy the show! Joshua Links:
Direct download: WSA_Episode_005_Joshua_Sheats_Interview.mp3
Category:podcast -- posted at: 9:00pm MDT |
Mon, 4 May 2015
Years ago, I learned an extremely valuable thinking process from Brian Tracy called Zero-Based Thinking. Today, I share it with you. Here's the question: Is there anything in your life that, knowning what you now know, you wouldn't get into again today if you had to do it over? If the answer is yes, then you follow up with these questions: How do I get out? How fast do I get out? By consistently applying this question to every area of our lives, we can avoid much of the impact of the sunk cost fallacy. As humans, we tend to want to keep doing something because we've invested a lot of time, money, or emtion into it in the past. But, for the most part, those costs are gone. They're sunk. You can't recover them. Rather, you have to zero the decision out, ignore the past, take the information you have today and determine if you want to continue what you're doing. This type of thinking can be extremely challenging and freeing. I hope it's a useful concept to you! Joshua
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Thu, 30 April 2015
Today, we continue the Q&A blitz! Here are the questions I cover today:
Enjoy! Joshua
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