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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Wed, 29 April 2015
I'm continuing my Q&A blitz today. I set out to answer five questions and wound up answering two. Oh well. At least I think you'll enjoy them! Here are the two questions I cover:
Enjoy! Joshua
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Tue, 28 April 2015
Today, I do Q&A and answer these four questions:
Resources:
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Mon, 27 April 2015
I enjoy looking for financial planning tips from odd corners of the world. Recently, I stumbled across the book Financial Freedom aFloat: How to Pocket a Paycheck in Paradise by Charles Tuller as I was browsing the finance section in my local library. Written for the cruising community, the book lays out some specific ideas and strategies for sailors who either need or want to earn some money to be able to afford to stay out on the water for the long-term. I'm most intrigued by the challenge of the problem: how do you live a "dream lifestyle" without a lot of money? The answer is multi-fold:
The last item is the most interesting to me right now. How do you conveniently integrate work and life without feeling like an indentured servant? How do you earn and enjoy life at the same time? The book does a good job of laying out some ideas. And, it gets better all the time. There are so many more options availalbe now in 2015 than there were in 2000, when the book was written. Enjoy the ideas we draw and apply them to your own lifestyle--whether you'd like to cruise or not! Enjoy! Joshua
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Fri, 24 April 2015
Today I handle your questions and comments. Right off the bat, I respond to some of the sharp criticism of Episode 181. Perhaps it will be useful to clarify my intention with the show material. Then, I answer these questions:
Enjoy the show! Joshua
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Wed, 22 April 2015
I'm fascinated by the topic of asset protection planning. It engages my personal enjoyment of complicated, intricate planning. It's in important area of planning. But it's also one of the most over-hyped areas filled with sleazy marketing and sleazy business practices. How do we work through this? Today, I introduce the topic to you in a down-to-earth, accessible way. We'll keep a healthy sense of paranoia and a healthy sense of reality firmly together as we traipse through these topics. Enjoy the show! Joshua
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Tue, 21 April 2015
Every single aspect of personal finance is influenced politics, religion, and philosophy. Every law and every decision has a moral and ethical component to it. In modern conversation, we're unaccustomed to talking about philosophy and ethics. We steer away from discussing politics and religion because we're uncomfortable with how we can have a positive relationship with another person even when we disagree. Or, we might feel unequipped to battle in the world of philosophical or religious ideas. The problem is that our lives are continuously influenced by others who are battling in the world of politics, religion, and philosophy. And, we're subject to the same moral/ethical code as everyone else is regardless if we want to admit it or not! Worse still, we don't have the choice of non-participation. Every dollar of tax we pay, every item we buy, every hour we work affects the larger system in some way. By our actions we are supporting or tearing down various systems and causes. We are either moving the systems that surround us in a certain direction or we are being moved by them. The final horrific reality is that most of us are untrained in the fine art of sniffing out propaganda and influence. So, we are subject to it. Most of us would be content to simply sit by and live our lives quietly; it's not possible. Because you are in important pawn in others' plans for you.
I hope you enjoy the show. It's an unusual discussion but it's an important one. I will be building on the content of this show in future episodes as we sort our way through the swamps of financial movements, theories, and conspiracies in the future. Let the critical thinking skills commence! Joshua p.s., I've tagged this show with the [EXPLICIT] label because of the content and some of the words used. This show is most appropriate for adult audiences, not for children. Links:
Direct download: RPF0181-Politics_in_Finance_WITH_NEW_INTRO.mp3
Category:podcast -- posted at: 2:21pm MDT |
Fri, 17 April 2015
Today, I share with you the framework knowledge of how life insurnace policies actually work. Once you understand these basic concepts you'll be able to look at any type of insurance policy and more easily understand its use. Topics include:
Enjoy! Joshua
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Mon, 13 April 2015
I'm not able to record and release a new show for you today due to the rather pressing deadline of the April 15 tax filing date. I'm finishing up my return today so I'm releasing an interview I gave on the Anarcho-Yakitalism Podcast with Nick Hazelton. Nick is a young man who raises yaks and pigs on his farm in the Pacific Northwest. He is 16 years old. I shared a bit of my story with him and gave him a bit of life coaching on how I think about financial planning and life planning for young people. This show was originally released on February 24, 2015 on Nick's website. Enjoy! Joshua Links:
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Thu, 9 April 2015
This morning, I put out a note on the Patreon page for questions from the patrons and I received four:
Enjoy the show! Joshua
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Wed, 8 April 2015
Today's show gives you the tools you need to sit down and calculate an appropriate amount of life insurance coverage for you to own. On Episode 173, I discussed the three primary ways of calculating an appropriate amount of insurance:
This show teaches you how to calculate a Needs Analysis. The process is simple: What You Want - What You've Got = What You Need In order to figure out what you want, simply make a list of everything you want for your family in case of your death. Divide that list into:
For the income needs, decide:
Enjoy the show! Joshua Links:
Direct download: RPF0178-Life_Insurance_Needs_Analysis.mp3
Category:podcast -- posted at: 2:54pm MDT |
Tue, 7 April 2015
By popular request, I've invited Meb Faber on the show for an interview. Meb is well known in the investment world for his contributions on tactical asset allocation and trend-following. In the interview we cover:
Enjoy the show! Joshua p.s., listen to the show for an opportunity to get Meb's most recent book for free! Links:
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Mon, 6 April 2015
Today I want to share a very simple concept with you regarding practical asset allocation. If you plot your goals on a simple matrix and plot all of your investments on the same matrix, you'll more easily be able to select an appropriate investment to fund each goal. Here's the matrix: home-run dollars aggressive dollars safer dollars -------------------> short-term -----> mid-term -----> long-term Enjoy the show! Joshua Support the show as a patron: http://radicalpersonalfinance.com/patron
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Fri, 3 April 2015
Friday Q&A shows are fun and today is no exception. Today I answer five questions:
Enjoy my answers! Joshua Links:
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Thu, 2 April 2015
You can’t go from broke to rich in a single step. There’s no magic fairy who will suddenly transform your financial life for you. You have to do it yourself. But you can work your way through a path that leads to financial independence and complete abundance. That path has stages and you should celebrate your progress at every stage! In today's show, I share with you my ideas regarding the stages of financial independence. I believe this is a useful roadmap to help you navigate from where you are to total Financial Abundance. Stage 0: Financial Dependence Stage 1: Financial Solvency Stage 2: Financial Stability Stage 3: Debt Freedom Stage 4: Financial Security Stage 5: Financial Independence Stage 6: Financial Freedom Stage 7: Financial Abundance My challenge to you is to take these stages, understand where you are, and lay out the numbers of your own situation. How much do you need to be financially stable? What's your number for financial independence? Financial freedom? Write it down clearly for yourself and then keep working on it! Enjoy the show, Joshua Links:
Direct download: RPF0174-Stages_of_Financial_Independence.mp3
Category:podcast -- posted at: 3:00pm MDT |
Wed, 1 April 2015
At long last, we enter into the oft-requested topic of life insurance! Today's show is an introduction to the economic basis and justification for life insurance and it's also an outline of some of the uses of life insurance for individuals and families. (We'll cover business uses another day.) You also get the joy of a bit of a sales pitch on why I love life insurance planning so much. It's truly an incredible financial product. Life insurance is founded on the economic value that each of us provide to others and on our moral obligation to provide for our dependents. Because each of us has an economic value that can be estimated, we can come up with some formulas to understand how much life insurance is appropriate. The three major approaches to determining an appropriate amount of life insurance are:
The best of these methods is the needs analysis approach. It balances the need for precision and the need for simplicity quite effectively. Life insurance can have many uses for individuals and families:
Enjoy the show! Joshua
Direct download: RPF0173-Economic_Basis_of_Life_Insurance.mp3
Category:podcast -- posted at: 3:11pm MDT |
Tue, 31 March 2015
Retirement planning is at the core of the financial planning profession. But, it's a very complex subject and it's tough to wrap your head around the process. I've invited Roger Whitney, CFP®, CIMA®, CPWA®, AIF®, financial advisor and host of the Retirement Answer Man Podcast on the show today to chat about retirement from his perspective. Roger specializes in working with retirees and prospective retirees in a formal financial planning capacity. I think you'll be intrigued by some of his perspectives. Show topics include:
Enjoy! Joshua
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Mon, 30 March 2015
One of the challenges of personal finance math is the relevance of a particular scale. Sometimes you can get a massive benefit by switching to a different scale. One famous example is the daily latte. $4 for a latte sounds about right in today's world. But if you do it every day, it adds up. To fully appreciate the impact of the seemingly small expenditure you can change the scale from daily to annual. $4/day x 5 days per week x 52 weeks per year is $1,040/year spent on coffee. That's a lot of money! If you're scared that I'm trying to take away your latte, don't be. I'm not! But I do want you to use and apply that tactic to the actual numbers from your financial life. In today's show:
Enjoy the show! Joshua Links:
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Wed, 25 March 2015
I've got a double problem this week that is keeping me from releasing shows:
So, I'm releasing a couple of interviews that have been recorded with me in the past. This one is very good. Rob is a great interviewer and he was able to get very in-depth. This show has an in-depth discussion of the benefits and problems of financial advisors. Rob was also able to pull some pretty personal stuff out of me from my past! Joshua Links:
Direct download: DR_123-Joshua_Sheats-Radical_Personal_Finance.mp3
Category:podcast -- posted at: 3:42pm MDT |
Fri, 20 March 2015
I'm not able to record a normal show today, so I'm releasing a copy of an interview I conducted with Nick Loper from Side Hustle Nation. This interview was released on February 19, 2015 on Nick's show, just in time for tax-time! This show is a good overview of some general tax tips:
Enjoy! Joshua Links:
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Thu, 19 March 2015
My guest today is a veteran of financial reporting. Fred Gabriel has spent the last 17 years reporting on the financial advice industry. He began his career as a mutual fund reporter and progressed to be named the editor of Investment News in 2012. I spoke with Fred at the Technology Tools for Today Conference and we focused our conversation on the changing landscape of financial advice. Due to the nature of his job, Fred has a front-row seat on all of the changes happening in the industry. The interview focuses primarily on the investment advice industry but does have ideas and content which can be applied to other industries. Topics include:
Enjoy the interview! Joshua Links:
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Wed, 18 March 2015
On Monday, I released the show on new cars vs used cars. It became clear to me while doing that show that I really needed to do an in-depth discussion of the concept of Opportunity Cost. If you understand Opportunity Cost you can easily help people to make better decisions. All of us make decisions based on what we value. Every transaction is based on each party involved preferring what the other has more than what he/she has. Good decision making is largely based on simply understanding all of the options that each of us has, considering the various scenarios, and then choosing which scenario is most ideal for our circumstances. In today's show I add some serious meat to this idea with a bunch of pertinent examples:
At the end of the day, you control your own life. Consider your decisions carefully and simply make the decision that is best for you. Joshua Links:
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Tue, 17 March 2015
I've brought you some shows on the concept of advancing your career by attending industry conferences. But what about getting a double bonus by organizing the conference yourself? That way you get all the benefits you would get from attending but you get the added bonus of becoming an industry leader. Plus, perhaps you can make some money on the event! My guest today is Philip "PT" Taylor, founder of http://ptmoney.com/ and http://finconexpo.com/. PT started working as a CPA, transitioned to full-time financial blogger, and ultimately created one of the most well-loved financial conferences: FinCon. The interview is a complete discussion of:
Enjoy the discussion! Joshua Links:
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Mon, 16 March 2015
Ahhh, the great debate over cars! Should I buy new or should I buy used? In reality, the answer is simple:
Choose the option that fits best. But, of course, there are as many ways to answer those questions as there are people in the world. Regardless of the decision you make, here are some ideas for you to consider to lower the total cost and enhance your results:
Enjoy the show! Joshua
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