I know, I know - Medicare is not a very sexy topic in life. But, what if I told you there was an opportunity to save thousands of dollars in the future by PAYING attention to Medicare right now?
By the way - did you know medical coverage in retirement is the largest expense you will all face later in life?
And, since I haven’t covered this topic at all on the show, I knew now was the perfect time. I also knew I wanted to bring the best of the best on when it comes to experts in this arena, so I was able to get Danielle Roberts to come on the show.
Danielle is the go-to expert for all things Medicare for the publications like Forbes, the Huffington Post and Readers Digest. She is also co-founder of the uber popular blog and website Boomer Benefits.
But first….
IMPORTANT: This episode is NOT just for those getting ready to hit retirement. There are few things Danielle will share that will save those who are years away from retirement thousands upon thousands of dollars. If you’re like me (35 years old) and you take advantage of what Danielle is talking about in terms of saving money in your later years by starting now, your older self will thank you!
Here’s what you can expect from today’s show:
• How did Medicare first get started?
• How does Medicare Part A work?
• What you need to know about Medicare Part B
• Why Danielle loves Medicare Part C the most
• Medicare Part D: A tip to ask your doctor to save you thousands
• How to use your Health Savings Account with Medicare
• The average amount a couple pays for medical in retirement
• What resources do baby boomers have available right now
And of course, if you know anyone who already 65 or getting close to it, PLEASE do them a favor and share this episode with them. They will be so glad you did.
All the show notes, links and anything Danielle and I mentioned can be found at https://www.moneypeach.com/session123
Well, are you about to freak out yet?
Why?
Because we are about a week away from Christmas and the spending is in full force right about now. In fact, did you know the average American family will spend over $845 in 2018 and closer to $1,000 in 2019?!
I am not saying you shouldn’t spend that much this Christmas. I say if you have the money and want to spend it - by all means, go right ahead!
But what if you don’t have the money? What if the holiday season sneaks up on you and the only option is to put it all on a credit card? If you remember from last year, this means you’ll be making credit card payments for Christmas in July.
The Solution: This week I am sharing with you our little SAVINGS HACK for the big expenses in life. Christmas, vacations, emergencies, new cars or any other big expense you can anticipate.
If you start what we are talking about this month, you’re going to really enjoy spending money this time next year because you’ll have the money set aside.
And when the vacation comes up you want to go on, you’ll have the money set aside.
Or when the hot water heater goes out, you’ll have the money set aside.
Whatever large expenses you have, you’ll have the money set aside.
Mentioned in the show:
Best Online Banks:
CIT Savings Builder - 2.55% APY when you save $100/month OR have a balance of $25,000
https://www.moneypeach.com/citsavingsbuilder
CIT High Yield Savings - 1.55% APY when you open an account with $100 minimum balance
https://www.moneypeach.com/citsavings
**The links above are affiliate links. This means Money Peach is a partner with CIT Bank and they can send a commission for using one of the above links. It doesn’t cost anything more or less for you but allows Money Peach to fund this podcast. Thank-you for your support!
All the show notes, links and anything else I mentioned can be found at https://www.moneypeach.com/session122
For the longest time I have poo-pooed the idea of travel hacking.
For me, it meant you were supposed to go out and sign up for as many travel credit cards as possible. Then, you would try to spend as much as money on each credit card to “chase the rewards.”
I remember thinking: Wow! I can spend $40,000 on a credit card and score a free plane ticket - no thanks!
Then I met Travis.
Side note: I met Travis at a little dive bar in Philadelphia last summer through a mutual friend. When he first told me he was a travel hacker...well... I wasn’t overly impressed.
Until now!
You see, Travis didn’t get his first credit card until he was 28-years-old and to this day he WILL NOT carry a balance or pay a dime of credit card interest.
And yet, he and his family of 3 still travels all over the world on $5 plane tickets, cheap apartment rentals, and some other little-known travel hacks that completely took me by surprise.
Here’s what we have in store for you:
• How to get the absolute cheapest plane tickets
• Where to look for cheap flights
• How to get notified about the little-known flight hacks
• How to find cheap apartment rentals
• A secret they use for plane tickets using Wikipedia!
• How they stayed in a 5-bedroom mansion in Breckenridge with access to the BMW and Hot Tub for free
• What Travis recommends as everyone's first step to travel hacking
BONUS: He has a free webinar on Black Friday 2018 to show you the top tips to travel hacking. If you would rather bypass the long lines and learn from a pro, sign up here:
https://www.moneypeach.com/travis
All the show notes, links and anything Travis and I mentioned can be found at https://www.moneypeach.com/session121
Eighteen months ago I brought my wife on the show to talk about how her and I FINALLY got on the same page with money inside our marriage.
The episode was one of the most downloaded episodes of all time...and then we were told by the news station she was working for at the time that the show would have to pulled down ASAP.
However, she has since retired and now the episode is being relaunched because I know how many of you will be able to relate.
The backstory…
We had just got married, had great jobs, and a really good income. We felt like we were rich...and we behaved like it.
After three years of doing dumb things with money, we eventually went completely broke.
We had maxed out credit cards, overdrafted our bank accounts, had zero money saved, and we were literally sitting there at our kitchen table feeling completely hopeless.
We didn’t know what to do. I had a plan but then she had a better plan. She made more money that I did but I was the one who handled the money.
We went through a ton of ups and downs, but eventually came together and big things started happening.
We started saving more money…
We started paying off more debt…
We stopped fighting about money…
And we did it all together.
Still today, one of the questions I get all the time is, “Peach, how did you get your wife on board with your money plan?”
Here’s what we are talking about in today’s episode:
• What it takes to get on board
• The struggles we faced
• What she did that changed everything
• How much she spends on a dress today vs 6 years ago
• Our “entertainment” monthly budget
• The most difficult thing she faced when climbing towards financial freedom
• What life is like now we are debt free
What you will find in this episode is the raw truth: it wasn’t easy. The number one cause of divorce in North America is money fights and money problems. Somehow we managed to stay married through the ups and downs of our finances, but in the end we are stronger than ever both financially and inside our marriage.
Money truly does touch every aspect of your life…especially your marriage.
All the show notes, links and anything Andrea and I mentioned can be found at https://www.moneypeach.com/session120
Joseph Hogue is an online serial entrepreneur. What I mean by that is he has created multiple different income streams online and has had success multiple times over.
I asked Joseph to come on the show to share his journey with us so we can create some ideas of our own when it comes to generating income online.
Joseph has owned 6 different personal finance blogs.
All of Joseph’s blogs have made money and he has even sold two of them.
He has also authored 10 books which he sells passively on Amazon for $2,000/month.
Joseph has an online course on investing which in another stream of income.
He has also grown his YouTube channel by 23,000+ subscribers over the past 10 months.
He knows how to create something from nothing and he’s coming on the show to share some of his best tips for getting started online (and in any niche).
Here’s what we discuss:
• How he started his blog
• Why he recommends self-publishing to make money early on
• How to create multiple income streams online
• His early success with YouTube
• Why creating an online course is extremely profitable
• How to stand out from the “noise” in the online space
All the show notes, links and anything Joseph and I mentioned can be found at https://www.moneypeach.com/session119
I am honored to have the hosts of one of the most successful marriage podcasts come on the the show: Tony and Alisa DiLorenzo from the One Extraordinary Marriage Podcast.
Tony and Alisa are experts when it comes to everything marriage: dating, kids, sex, lifestyle, and MONEY.
I of course would like to talk about all of it with them, but on the show this week we are solely going to focus on the money.
Here’s what we have in store for you:
• Should couples share a bank account and why (or why not)?
• Sex and money - do they relate?
• Who costs more - men or women?
• A marriage/dating hack that we will be starting ASAP
• Creating dreams around life and money
• The breadwinner of the marriage
• HER money vs HIS money vs OUR money
• Best date ideas that won’t break the budget
• And a few more surprises
BONUS: Andrea Robinson (my wife) comes on as a co-host to help me through this incredible interview!
Side note: I started listening to their podcast about a year ago and found myself always sharing it with Andrea or a good friend of mine. On their show, they talk about EVERYTHING marriage...including the things that many of us would consider taboo.
All the show notes, links and anything Tony, Alisa, Andrea and I mentioned can be found at https://www.moneypeach.com/session118
Eric Brotman is on the show to share with us the four strategies everyone needs to implement to keep Uncle Sam away from your money.
There are so many different ways to build wealth, but the ones Eric focuses on during our interview all has to do with taxes.
Believe it or not, very simple decisions you make today will have tremendous benefits or consequences later in life. Whether we are talking about a 401k, ROTH IRA, 529, or even some outside-of-the-box strategies, all of them have tax implications.
Here’s what we discuss:
NOTE: At the end of the show, Eric drops a bomb on me and I wasn’t ready for it. You are going to “feel” the awkwardness when Eric mentions something which I am NOT a fan of. But...he does a pretty good job of “bending” me just a little bit :)
All the show notes, links and anything Eric and I mentioned can be found at https://www.moneypeach.com/session117
Peter Hug has been in the gold industry for nearly 40 years which makes him an expert in my opinion when it comes to gold.
Now to be honest, I am not a fan of gold (yet). In fact, I have never once invested in gold because I have personally never liked gold as an investment.
So, why am I willing to learn more about gold now, right?
First off - I don’t know much about gold. One of my rules is I do not invest in things I don’t understand. Therefore, investing in gold was never something I was comfortable doing.
Secondly, (I thought) gold didn’t have a great track record when compared to the equity markets. From what I do know, the the price of gold has increased by 355% over the past 30 years, while the Dow Jones Industrial Average has increased by 1,255% during that same time frame.
But, now I am also learning that over the past 15 years, gold has outperformed the market. In fact, gold has returned 355% over the last 15 years (same as the 30-year return) while the Dow has returned only 58%.
After seeing the facts, I decided to ask Peter to come on the show to see if he could convince me gold was a viable option. Here are some of the takeaways from my interview with Peter.
Today we discuss:
All the show notes, links and anything Peter and I mentioned can be found at https://www.moneypeach.com/session116
She’s been the leading lady on local tv for nearly 15 years and now, she is stepping into the next chapter. She’s also my leading lady in life and the Mama to our crazy kiddos. We sit down and she answers the ONE question EVERYBODY has asked us since she resigned from her position.
“How can you just leave a job? An income? Are you scared?”
Many of you know our debt free story and how we were buried under $52,000 in debt in 2010. For those that don’t, well, we tried to keep up with the Jones’ for too long and well, it got us in BIG trouble. Expensive cars, stacks of credit cards with racked up bills, way too much crap and trips we had no business going on. We HAD to make some serious changes.
We had to adopt many new habits and behaviors to get rid of the excess and the debt. We still live under those principles to this day. These habits are what made giving up an income and moving into our next chapter of life, completely possible.
During our interview, Andrea and I break down our Top 5 Money Hacks that we still live by today. We credit each one for helping to get us diminish our debt nearly 8 years ago, move into this next current phase of life and still manage to love each other BIG.
Today we discuss:
• The dreaded “B” Word...yep, BUDGET, I know, but it works...however, we have a fancy-schmancy way of spinning it so it feels awesome.
• The beauty of Sinking Funds aka little online piggy banks that make for saving for special treats easy and seamless.
• The importance of an Emergency Fund. Trust us, that AC unit will go out in June, in Phoenix, while it is 110 degrees outside.
• Old Cars. Yes, we drive 10 year old cars with 160k miles on them and we do not care what the peeps next door think.
• The “$100” rule. We adopted this years ago and it still happens, with every purchase. It’s a must.
All the show notes, links and anything Andrea and I mentioned can be found at https://www.moneypeach.com/session115
Wow - did someone just say that your 401k is a bad plan?
Yes.
Rebecca Walser comes on the show to share with us why your 401k isn’t just hurting you...it’s actually KILLING your financial plan.
It all started back in 1978 when the famous 401k plan was in a way created by accident. Back in the late 1970s, most employers contributed to a defined benefit plan (AKA a pension) and that cost employers a lot of money.
During this same time, tax rates were much higher than they were today and some very highly compensated executives were looking for loopholes to avoid these high taxes. What they proposed was they could be bonused out in the form of a 401k plan, which allowed them to take their bonus, dump it into a 401k plan to avoid paying the high taxes now, and then grab that bonus money at retirement when taxes were much lower.
However, a few years later businesses started catching on and realized they would save millions upon millions of dollars by getting rid of the pension plan and moving to a 401k plan. Instead of having to fund a pension for years after retirement, they could offer a company match and have the employees contribute the majority to their retirement.
And that’s how the 401k became the retirement standard in today’s world...on accident.
But, it’s not 1978 anymore. Taxes are much different than they were then, the government debt is much higher than it was then, and there is a huge problem facing social security.
How are we going to pay for social security AND how are we going to pay off this massive $21 Trillion of debt?
Is it possible that taxes could go up from their all-time lows of 2017?
Wait a minute….if taxes are at an all-time low and we forecast we may need to raise taxes in the future to pay for the government's financial mess….then does it make sense to save in a 401k today?
Are we avoiding having to pay very low taxes today so we can pay much higher taxes in retirement?
In the interview, Rebecca and I talk about:
All the show notes, links and anything Rebecca and I mentioned can be found at https://www.moneypeach.com/session114
Travis Hornsby is the founder of StudentLoanPlanner - a website and community where thousands of people are saving millions of dollars in student loan interest payments.
Travis’s passion for this started when his physician wife was facing massive amounts of student loan debt and he started researching the most efficient ways to pay them off and how to take advantage of the programs the government has available (but forgets to tell us about).
Since starting Student Loan Planner in 2016, Travis has met with over 1,000 to help them pay off over $300 million in student loan debt and save over $60 million in interest payments.
I haven’t met anyone who knows more about the ins and out of student loans and how to ensure you’re paying them off in the most efficient way possible. In fact, there were a few things Travis mentions in our interview that I had never realized was even a possibility.
In the interview, Travis and I talk about:
AND much more…
All the show notes, links and anything Travis and I mentioned can be found at https://www.moneypeach.com/session113
In the blogging world, Jim Wang is one of the early pioneers turned blogging legend.
As a software engineer in 2005, Jim started blogging about how he set up his monthly budget, how he opened a retirement account, where he shopped for deals, and how he managed his everyday money.
It was his hobby.
Something he did on nights and weekends as a way for him to document everything he was doing financially while fulfilling a need for a hobby. His blog never made any money in the beginning because he was never trying to make money.
He just liked blogging.
However, over a few years of consistent posts on his blog, readers started catching on and over time his site began to grow.
And grow...and grow.
Then just five years later, a company offered Jim Wang $3 Million to buy his little “hobby blog” from him.
I of course needed to how this all happened, which is why I asked Jim to come on the show.
In this episode, Jim and I talk about…
• Getting started
• Going from hobby to business
• Why relationships are still important (even online)
• Consistent effort over time and how it related to Jim
• Restarting - Jim eventually started a second blog from the ground up
• On storytelling - facts tell and stories sell
• And more...
All the show notes, links and anything Jim and I mentioned can be found at https://www.moneypeach.com/session112
We get emails all the time about people wondering how to start their own blogs and how to make money from a blog.
The first thing I will tell them is it is definitely not a get-rich-quick business, it takes a ton of effort and a little bit (or a lot) of time.
Truth-be-told, I started Money Peach in March 2015 and didn’t see any revenue at all until December of that same year. I would imagine I put in close to 1,000 hours of blogging...not a great hourly rate in the beginning, right?!
Now, I definitely don’t share this to scare you away from blogging, because just like anything in life...the reward is often worth the wait! Today, I am extremely grateful that the newbie blogger in 2015 never gave up.
Today Money Peach provides a very incredible income for our family and it wouldn’t have ever happened with the labor of love in the very beginning.
But what about you and your blog, right?
This is why I am bringing on my good friend Pete McPherson - founder of “Do You Even Blog?” and an absolute expert and all-star when it comes to starting and monetizing your next blog idea.
Pete has been a blogger for over a decade and has literally had over 40 failed blogs before reaching a ton of success with Do You Even Blog?
Therefore, Pete knows a thing or two when it comes to starting a blog, growing a blog, and our favorite - MAKING MONEY through a blog. In fact, Pete is now generating just under $10,000 per month with his blog he started just 14 months ago.
In this episode, Pete and I talk about...
• How to get started even if you’re not quite sure where to start
• The best places to start for FREE
• Pete’s three tier approach to monetizing a blog
• Why Pete spends so much time building out the FREE stuff first on his blog
• How to monetize your blog when you have very little traffic
• The biggest mistakes newbie bloggers make and how to avoid them
All the show notes, links and anything Pete and I mentioned can be found at https://www.moneypeach.com/session111
Author, speaker, entrepreneur and money-behavior expert Darryl Lyons is on the show today to talk to the middle class about our behavior with money.
If you’re not on food stamps or you’re not vacationing on your yacht, then you and I both would be considered the middle class...and we have unique challenges.
All of us our continually hyper-marketed to on a daily basis to get us to spend our money on “stuff” right now and putting off any kind of delayed gratification.
Think about our credit cards, Amazon one-click, Apple-Pay, “Hey Alexa”, and all the other ways to spend money without really “feeling” money.
Genius, right?
But what happens when our spending doesn’t leave room for saving and we don’t save enough? Did you know that $1 million is no longer enough to retire with and saving 15% of your gross income still isn’t going to get you to your goals?
And how much should you have saved at each age (30, 40, 50, 60, 70, 80…)?
How do you know when you have enough saved and what are things you should be doing to ensure you pivot into chapter two of life with enough to start chapter two.
During our interview Darryl and I go over…
All the show notes, links and anything Darryl and I mentioned can be found at https://www.moneypeach.com/session110
Steve Valentine is a third generation real estate entrepreneur. From his start in the late 1990s, Steve created a real estate empire when the market was hot, everyone with a license could sell a home, and it almost felt like printing money.
Bill Gates was right when he said “Success is a Horrible Teacher” - this is exactly what happened to Steve. Things were going great, success seemed to be everywhere, and the business was becoming easier by the day.
That was until 2008.
In a blink of an eye, their business fell into shambles. They were way too far leveraged, couldn’t make their payments anymore, and lost everything.
Not only did they lose everything, but Steve was also facing over $1 million in debt - with a large majority of that debt owed to family, friends, and business partners.
He and his wife were completely broke, without an income, and had two young boys at home. They had become the example of “what not to do in business” and it was as transparent as can be - everyone was watching them and everyone knew what was happening to them.
Steve had a choice to make: do nothing or take massive levels of action.
In this episode, Steve and I talk about...
All the show notes, links and anything Steve and I mentioned can be found at https://www.moneypeach.com/session108
JV Ortiz is the founder of Six Figure Sneakerhead and he’s coming on the show to talk about an entire world I never knew about - the world of flipping sneakers.
Just like people who flip cars, flip houses, or buy and sell any kind of valuable goods, there is a fast growing demand for tennis shoes and the amount of money people are willing to pay for them is insane….well, actually it’s amazing :)
Within the first 6 months of starting his shoe-flipping business, JV was able to create a comfortable 5-figure-per-month income which has allowed him to travel the world while still working his business.
In fact, during our interview, JV was 14 hours ahead of where I was and did this interview in the middle of the night from Thailand!
In this episode, JV and I discuss...
• Why there is such a high demand for sneakers
• How to determine the value of sneakers
• What shoes are in high demand right now and why
• Software and websites you can utilize to make money flipping shoes
• How you can get started with a sneaker side hustle for less than $40 and a few hours per week
All the show notes, links and anything JV and I mentioned can be found at https://www.moneypeach.com/session107
Chris Prefontaine comes on the show to break down how to get 3 separate paydays as a real estate investor while using the strategy of facilitating a lease to own property.
Together Chris and I break down how it works and why he has had so much success with creating three unique revenue streams. Chris will also explain why he will match his way of doing real estate against any other model and why his will always outperform the others.
Yes, this may sound confusing at first but you can guarantee I asked Chris a ton of questions and even had him break down a real-world scenario using real numbers. You’re really going to like how we simplified the process to understand over the podcast and how we added the example into the show notes for this episode.
During the interview, Chris and I talk about:
• What is a lease to own
• Why a lease to own is an option for buyers
• What kind of sellers look for a lease to own option
• Payday #1, Payday #2, and Payday #3
• The average initial investment required
• What are the risks and challenges of lease to own
• Who this is not for
All the show notes, links and anything Chris and I mentioned can be found at https://www.moneypeach.com/session106
Today is a replay of the most popular and most listened to episode of the past 104 episodes of the Money Peach Podcast.
My guest is John Gaston from Episode 38 back in April 2017. John is a close friend of mine, an extremely successful entrepreneur, and was able to retire at age 34.
John is also my one-on-one mentor when it comes to my building own business and over the past few years John has shared a lot with me and I've begged him to come on the podcast to share his incredible story.
John is very humble and also very private, so for him to come on this podcast took a lot of arm-twisting on my part. Some of the things John will share with us are:
“The most successful people in the world read 15 mins every single day”
“...I remember hearing if I read 15 minutes every single day, I could all but guarantee I would double my income in one year, and then I did”
“Every decision you make in your business could be the decision that takes you closer to your goal, or could be the decision that puts you on the streets”
“Everyone works for 40 years (age 20 to age 60). The idea of being successful is cramming 40 years of work into 20...and if you’re really extra bright, 15 years…”
“The idea was to do all the things most people weren’t willing to do today so I didn’t have to do them later”
“...never quit. You’re going to have good days and you’re going to have bad days. If you don’t quit, you’re going to eventually find success”
“Water boils at 212°F - think about how many entrepreneurs probably quit at 211°F . They were so close and yet never made it - never quit”
“If you can get 1% better everyday….over a period of 12 months you are 365% better, and that is a substantial improvement.”
All the show notes, links and anything John and I mentioned can be found at https://www.moneypeach.com/session105
Up until recently, real estate investing was only an option for the top 1% income earner - meaning the average Joe investor had to overcome a steep price tag to cross the barrier of entry into real estate investing.
Those days are now officially over.
My guest on the show is Craig Cecilia, real estate investor, expert crowdfunder, and founder of Diversyfund.
I asked Craig to come on the show to discuss how crowdfunding works, why it’s so accessible for everyone, and how technology is making it even more affordable for the everyday investor.
During our interview, Craig and I discuss...
All the show notes, links and anything Craig and I mentioned can be found at https://www.moneypeach.com/session104
Pam Andrews is a College Admissions Coach and Scholarship Strategist, but more importantly she helped her son earn over $700,000 in scholarship money to pay for both undergraduate and graduate school!
This is $700,000 in money that her son WILL NOT have to pay back in the form of student loans.
How did she do it? This is exactly why I asked Pam to come on the show. As a parent of two kids and the 5% inflation rate for college tuition, I needed to know EXACTLY how her son was able to get that kind of money to put towards the undergrad and the graduate college of his choice.
During our interview, she shares…
All the show notes, links and anything Pam and I mentioned can be found at https://moneypeach.com/session103
You have probably seen the numerous different sites offering to get you out of your timeshare, right?
The first rule is this: if it sounds too good to be true, then it probably is too good to be true.
Which is why I interviewed timeshare exit expert, Gordon Newton, to explain how these timeshare exit scams work and what you need to be aware of.
Some of the topics Gordon and I touch on:
• Why timeshares are so hard to get out of
• How to avoid high-pressure selling from timeshare companies
• How can timeshare-exit companies really offer money-back guarantee?
• How the “guarantee” actually costs you more money in the long run
• What happens when sign the dotted line
Gordon is also giving away his free 16 page guide called “The Consumer's Guide to TimeShare Exit” which is an incredible resource for anyone who owns a timeshare!
All the show notes, links and anything Gordon and I mentioned can be found at https://moneypeach.com/session102
Financial planning shouldn’t just be for the uber wealthy.
Chris Hutchins is coming on the show to talk about the problem we are beginning to face when it comes to getting professional financial planning advice: the cost.
A financial plan takes time to complete and that time costs $2,500 on average...and all that gets you is a one-time plan.
In addition, our lives have changed over the past few decades and fewer people are working a 30-year career, retiring with a pension, and then living happily ever after.
Instead, what you see today is a constant move in careers, changes in life plans, moving all over the country/world, and countless other changes that are much different than what was once the norm.
And each time you make a life change, is it fair to have to spend $2,500 to adjust your plan with a financial planner?
Heck no!
Basically there are three different ways to get professional financial wealth building advice:
1. Meeting with a financial advisor (Expensive and individualized)
2. 100% robo-advisor (Cheap and cookie-cutter)
3. Hybrid approach (A mixture of both)
During the interview, Chris and I talk about:
• When the cookie-cutter approach to personal finance is actually a better plan
• The problem when you try to apply only a robo-advisor to life and money
• What life looks life for today’s investor
• The challenges that people will face in the future in terms of investing
• How to create an affordable plan fitting your lifestyle now and in the future
All the show notes, links and anything Chris and I mentioned can be found at https://www.moneypeach.com/session101
Today I am not bringing on a guest and we are taking a week away from talking about money.
Instead, we are shifting to talk about the one thing I feel everyone needs in their lives at any stage of life: A Mastermind.
To make it as simple as possible: a Mastermind group is a group of 5-7 people who get together on a regular basis to work towards individual goals within the group, while using the group and a vehicle for achieving the highest level of success in whatever you’re working towards.
I say this with confidence: I would not have the level of success I have today (in all areas of life) if it wasn’t for the two Mastermind groups I am part of.
On the show I break down:
• The definition of a Mastermind
• Examples of Mastermind groups for you to get started with
• The steps to forming your own Mastermind
• What kind of people to include in you Mastermind
• How to structure you Mastermind once you have your group
• How often you should be meeting
• What are some of the do’s and don’ts of Masterminds?
I also will be giving away a PDF cheat sheet to help you brainstorm and get started with your own Mastermind group!
Thanks so much for listening and enjoy the show!
All the show notes, links and anything I mentioned can be found at https://moneypeach.com/session100
Co-founder and CEO of Blooom, Chris Costello, on the show today to talk about your 401(k), 401(a), 403(b), 457 or TSP.
Chris spent his entire life in the financial advising world and now he’s blowing the whistle on the crap that he says has been going on for way too long.
He’s talking about the outrageous fees, the terms no one understands (or is supposed to understand), and the ridiculous amount of greed the folks from Wall Street posses when handling your retirement funds.
In 2013, he founded Blooom which he coins as the new way to 401(k).
Chris is extremely passionate about investing and saving for your future and he doesn’t disappoint. We may have had to “BLEEEP” him out a few times during the show, but I completely get it - he’s seen these maniacs ripping people off for way too long and it’s time for a change.
On the show we discuss:
• The terminology “they” don’t want you to understand
• We break down dollar-cost averaging
• We discuss the one thing you MUST be doing that results in thousands (and thousands) of dollars more in YOUR retirement
• Moving the needle financially for the middle-class, not the 1%
• How Blooom connects to your 401(k), 403(b), 457, 401(a), or your TSP
• Fees, fees, and more fees - how much are you really paying?
• The Blooom model - $10/month flat fee. Period.
The link Chris mentions in the show is for the first month FREE is: https://blooom.com/moneypeach
All the show notes, links, and anything Chris and I mentioned can be found at https://www.moneypeach.com/session71
Michelle was completely normal….and it sucked.
She lived the American Dream and attended college with the false belief that everyone graduates college, gets a 6-figure job, and lives happily ever after.
Except….it didn’t work out that way.
Instead, Michelle graduated college with $50k worth of student loan debt. Instead of landing a 6-figure salary, she lands a job making $25k per year while living in New York City.
Then she had to move in with her parents and things started going from hopeful to hopeless quickly.
Now the good news: Michelle decided enough was enough and changed the way she looked at money forever.
In fact, Michelle took massive levels of action and paid down her $50k in student loans over the next five years.
And now she’s sharing her story with us!
Here are some of the other topics we discussed during our interview:
All the show notes, links and anything Michelle and I mentioned can be found at https://www.moneypeach.com/session98