Finance – LIVETHEFUEL

No Trauma, No Drama, Stop Posturing with a Recovering Cynic

Scott Mulvaney — Thu, 02 Dec 2021 12:00:00 +0000

RC Peck Returns for Part Two! Getting Transparent Around These Transitions In The World

With the state of the economy and the stock market, I think it would be valuable for your listeners to hear how they can be more consistent in the market and have a successful year ahead, whether they’re investing for passive income or for growth and whether they’re new or seasoned investors. And not through the traditional ways of investing that everyone teaches, but by rewiring their brain and behavior, and using words, NLP, and past trauma to do what’s best for growing their money. Most of which are the opposite of what they’ve been taught or have never heard.

RC Peck, CFP sits at the intersection of money and human behavior. For over 20 years he’s helped people hear what their money is trying to tell them. His struggle with dyslexia, watching his parents’ life savings get embezzled, and his background in NeuroLinguistic Programming (NLP), taught him to question the obvious.

Quote: Men lead lives of quiet desperation and go to the grave with the song in their head.” ~ Thoreau

He now uses his ability to see what others can’t see which brings clarity and insight to a world that is often described as confusing and overwhelming. His message is clear. Listen to your money. It’s trying to tell you how to get the life you want.

Today’s Guest & Resource Links:

RC Peck’s 1st podcast was Episode 296: Stop Hiding and Stop Lying for Fearless Wealth
Book: Fearless Wealth on Amazon
FearlessWealth.com
Facebook.com/FearlessWealth
twitter.com/fearlesswealth
linkedin.com/in/rcpeck
youtube.com/fearlesswealth

Watch us on YouTube:

https://youtu.be/yC4x5RqauDA

Timestamped Show Notes:

00:30 – Introduction

04:40 – No more posturing. I’ve always been into the outdoors. I’ve always I bought a mountain light in 1989 this small company called North Face came out this new type of jacket called the mountain light and it is the first jacket ever wear was just the layer there was no insulation in it, it was longer. It was a shelf. It was it was one of the first years and I grew up outside of Chicago. And there’s there was no Rei where I lived or anything like that.

10:00 – But think about this. You just watch someone on TV, you see them in their family room. Okay, he’s got a suit on. To me, that’s really weird. So hold on, it’s deep COVID shut down, you’re in wherever some state words, you know, deep, deep state shut down. We know like, I think unconscious, like, why did you put the costume on dude? Like, we know you’re working from home.

19:45 – I think about this, like this stuff. People were scared about the FED. The federal funds rate is a quarter, it shouldn’t be a quarter that the balance sheet of the FED quantitative easing blah, blah, blah garbage garbage, pe ratio.

24:20 – So when people use financial terms, you sound like everybody else. They mean nothing and they don’t work anymore. It’s like someone says the PE ratio is the highest and it’s been there since 1929. I’m like, so what is it now? But I know enough because I geek out on this stuff, and my comeback is always July 1997. The PE ratio is the highest since 1929. Do you know what happened after July 1997 to march 2000? They go, no, well the NASDAQ went up two to 300%. So you would have given up 300% because of some ratio? And the answer is they don’t. I’m not throwing them under the bus, but no one’s taught them how to look at the market.

30:00 – So companies on the margin, they’re gone. Companies, were just a maybe, they’re gone. Companies that really succeeded, they realized I gotta pivot, I got to figure out how to get my tacos out online. They pivoted, they put lines on their parking lot so that people can come in and they felt like they accelerated the process.

40:00 – Well, so this is one of the first things I say to say to someone, I go, you can buy the S&P with dividends reinvested for free. Before it was free it would cost you five bucks to buy in a cost a couple basis points. But now it doesn’t cost you any basis points to own that fund, doesn’t cost you anything to buy it. So it’s free. It’s been free for a long time because 495 is free to me. So you have this free index that you can go get now for free. If you can’t beat the free unmanaged index, or your big box advisor can’t, then what are you doing?

50:45 – So if you’re making 150 a year, and let’s say, you have 150 saved, and then 150 grows by 10 percent, like 15 grand you’re like wow. I’ll go to you know, Olive Garden, the brain is just like, what’s the point?! There’s a point in between 45 and 50, where the brain really goes, wait a second. I don’t want to deal with this shit anymore. It’s not a millennial thing. It’s literally a 22-year-old to a 45-year-old brain. Wealth is income and it continues to help your wealth in between because the biggest earning years for most people is 45 to 55.

01:09:05 – Final Words Shown Below…

Our Final Words of the Show:

People have unnecessary trauma and anxiety and stress in their how to grow my money world, like and the message is it is all completely unnecessary. You’re either creating it yourself and you just don’t know it, or someone is creating it for you and you don’t know it. I mean, literally in 23 years. It’s really you’re either creating trauma in your finances, you’re doing it and you’re literally seeking out the most unstable investment. You just don’t get how your childhood trauma is having you recreate that survivable experience, or literally you’re like, Oh my god, they’re creating it. I just never knew it and I see them both turnaround immediately. So I mean, for me, the message is, there’s no need to be anxious ever about the stock market or your investing. If someone thinks that it seems so hyperbole or crazy, that just tells them how much of the hype is you should be scared? Or how much of the message is you you’re really screwed. If you don’t come over to us, we have some conversations through the trauma.

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294: Turning Career Success into Financial Success

Scott Mulvaney — Thu, 15 Aug 2019 14:00:00 +0000

Author of Making Money Simple, Peter Lazaroff turns Career Success into Financial Success:

Peter is the Chief Investment Officer at Plancorp, which manages $4 billion in investments for clients. He is also the author of the new book Making Money Simple: The Complete Guide to Getting Your Financial House in Order and Keeping It That Way Forever. Peter has built a national reputation as an educator with a unique ability to simply complex issues, which explains why Investopedia named him to the Top 100 Most Influential Advisors. He regularly appears on national television and writes articles for the Wall Street Journal and Forbes.

Quote: (1) “The rules are there are no rules” from Oscar Wilde

Quote: (2) “Everyone has a plan until you get punched in the mouth.” – Mike Tyson….When it comes strictly to investing they would be different.

Top 3 Hot Points:

What is a fiduciary promise?
From Career to Financial Success.
Financial Education for Freedom.

Making #Money Simple and Your #Financial #Success with @PeterLazaroff

Tweet This

On This Episode You Will Hear:

[00:30] Introduction
[10:40] The ultimate efficiency enhancers you have to figure it out. But I’m with you. When I moved to Plancorp, about four and a half years ago, the biggest life-changing move I made was time-blocking. Nobody can touch my morning. My mornings are sacred. I put big blocks on my calendar. I said do not book meetings, and it allows me in, the best thing you can do is just try not to open an email.
[20:00] I sit down and I write and I unload. I don’t always know what I’m going to write in advance. So I mentioned when I wrote 5000 words, I said, I wonder if I could turn this into a book. I just kept going and naturally, that part was really natural to me, because I write frequently now.
[33:00] You can go get a lot of investment advice online for super cheap, the thing we do is we just make sure people don’t get killed on their taxes and get your tax projections. You do that through eliminating surprises in a simple tax projection as a business owner. You might find that you can accelerate income or expenses, or the salary you have. Stay below that net investment, income tax and all the planning work that goes into that. That’s a big reason to outsource that so you can focus on your business.
[40:00] I come from parents of doctors, so maybe I’m biased. Generally, you go to a professional expert, you go to the attorney. Generally, if you go to someone, you should trust that the advice is not in anyone’s interest, but making your financial life better.
[51:55] Final Words

Final Words:

I think a lot of people just want to make sure they’re doing the right thing. Money can seem complicated but it just doesn’t have to be. Life is very complicated and you’re trying to find ways to simplify it. Don’t let it be something that you put to the side because it seems complicated. There’s a lot of great resources out there, not just my own that are helping simplify it.

The internet has done wonderful things, podcasts like this have done wonderful things in making these issues more approachable. So I really encourage you to try to, if there’s something you’ve been putting off, like your finances. That one thing you can probably think of, go ahead and just do that take care of it now because the benefit from it will compound over time.

Influencers Mentioned:

Roger Whitney, The Retirement Answer Man Podcast – rogerwhitney.com
Book: Making Money Simple – https://amzn.to/2YK9MIM

Resources:

smartmoneyquiz.com
peterlazaroff.com
Twitter: @PeterLazaroff
Instagram: @PeterLazaroff
linkedin.com/in/peterlazaroff
facebook.com/Peters-Money-Tips-2633683283313176/

Watch On YouTube:

Action Steps:

Submit an iTunes Review. More 5 Stars reaches more people!
Visit our Resources page and a reminder to LIVE-THE-FUEL my friends!
Join my private Facebook community THE FUEL TANK!

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049: Saving Gyms Profit First with Shannon Simmons

Scott Mulvaney — Mon, 13 Feb 2017 17:00:00 +0000

Profit First for Gyms and Fitness

This episode is a referral from Mike Michalowicz author of the Profit First book refers us one of his earlier adopters of the system. Shannon Simmons is one of the earliest Profit First Professionals and is here to help save gyms, fitness professionals and more.

On This Episode You Will Hear:

[spp-timestamp time=”01:54″] How Shannon stumbled across helping Gym and Fitness centers with their accounting as a niche.
[spp-timestamp time=”04:27″] How Shannon made the transition into this niche.
[spp-timestamp time=”06:31″] Shannon was one of the first members of the P.F. Professionals. She had been doing Virtual Bookkeeping for ten years before the book came out. There were so many Entrepreneurs she wanted to help but with all the accounting jargon she knew Entrepreneurs would not relate. That is the biggest thing she likes about the system, is it was written by an Entrepreneur for an Entrepreneur, so they can relate.
[spp-timestamp time=”09:03″] You have to face reality and know where your business is, compared to where a healthy business is.
[spp-timestamp time=”11:24″] Mike recommends having at least five basic accounts, Shannon has identified three others for the fitness industry. This system works for personal life as well. Shannon uses an example of someone repaying $100,000 of debt off in 18 months by using this in their personal life.
[spp-timestamp time=”16:26″] Shannon recommends all Gym owners have an Equipment Account, even if you allocate a small amount to that account each month, it will compound by the end of the year so it can be used on new equipment.
[spp-timestamp time=”21:16″] This system is a proactive way to look at your finances.
[spp-timestamp time=”28:28″] Shannon recommends you should focus on creating the five accounts right from the beginning
[spp-timestamp time=”31:44″] There are three extra accounts Shannon has found that the fitness industry should have, one of them is the Equipment/Capital Expenses Account,
[spp-timestamp time=”33:06″] The point of Profit First is to get people to finally enjoy running their businesses, even if they are only paying themselves 2% profit, you are paying that right away. You don’t distribute your profits from the profit account until the end of each quarter. Profit First Professionals call it the “Quarterly Profit Distribution”.
[spp-timestamp time=”35:25″] You don’t take money from your Profit account and put it back into your business. Your profit is there for you to enjoy your hard work, even if it is only 1-2%, especially for gyms!
[spp-timestamp time=”37:26″] The more money we have, the more money we spend.
[spp-timestamp time=”39:37″] There are people out there that have a decent handle on their finances but are missing the enjoyment piece. Living with the income instead of living ahead of the income.
[spp-timestamp time=”44:00″] Who is your best employee? The answer is YOU! You have to compensate yourself.
[spp-timestamp time=”46:51″] Final Words

Links and Resources

People Mentioned

Final Words

You can only serve and love as much as you serve and love yourself. You have to be taking care of yourself so you can take care of other people.

Action Steps

Please Submit an iTunes Show Rating & Review, we need more reviews to increase our ranking and appearance. We love 5 Stars!
Join THE FUEL TANK our community on Facebook! – “You are the average of the five people you spend the most time with.” ~ Quote by Jim Rohn
Be sure to check out our Resources and a reminder to “Keep Living The Fired Up Epic Life everyone!” #livethefuel

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037: 2017 Money Resolutions with Whitney Hansen

Scott Mulvaney — Mon, 02 Jan 2017 18:15:00 +0000

Resolutions, Money and your first 2017 CoHost:

Do you set New Years Resolutions? To get 2017 cranking we are bringing on our first repeat co-host. We have brought back The Money Nerd, Whitney Hansen to make the biggest impact on your financial resolutions this New Year!

On This Episode You Will Hear:

[spp-timestamp time=”01:32″] A quick recap on who Whitney Hansen is
[spp-timestamp time=”02:19″] What people are freaking out about this new year. We all want and make the same goals in the New Year, Lose weight and get our financials in order.
[spp-timestamp time=”02:50″] New Year resolutions. 75% of people who set New Year’s resolutions give up within the first 30 days. People don’t spend enough time on who they are and what make’s them tick, and function every single day. It is something that is key to health and finance.
[spp-timestamp time=”04:39″] Profit First. Taking Action. In the fall of 2016 Whitney started teaching personal finance at a College level. Whitney creates little money dates with herself to check in on how her finances are doing. That weekly check-in allows you to align yourself with your finances.
[spp-timestamp time=”07:36″] Whitney would go through the past 30 days of your Credit Cards and your Bank accounts and start to group together common spending habits and remove spending that doesn’t align with your goals and your expenses. Reallocating the funds to the right domains in your life.
[spp-timestamp time=”11:09″] Budgeting and saving for a trip to Italy. Booking trips with Google Flights. Setting up a saving’s account for just travel.
[spp-timestamp time=”12:53″] If there are important things in your life you want to pay for, set up an account and have your money automatically transferred to your account. Even if it is only 2% or 3%. Cut out what does not matter to you and reallocate it to other areas of your life.
[spp-timestamp time=”14:52″] Prioritization. It is really easy to get distracted.
[spp-timestamp time=”16:41″] Digit and other apps
[spp-timestamp time=”18:56″] The power of your success is down to the power of your network. Also discussing using tax refunds properly
[spp-timestamp time=”21:56″] Are we really tracking our budgets? Take your tax refund and put it towards your goals. Taxes and ROTH IRA’s
[spp-timestamp time=”26:53″] Emergency funds and added expenses funds.
[spp-timestamp time=”29:04″] Become more self-aware with money. Track every expense for the next 30 days.
[spp-timestamp time=”30:40″] Challenge people to achieve to boost the income by a dollar amount or by a percentage amount
[spp-timestamp time=”43:13″] Conferences. Getting out there and growing your network
[spp-timestamp time=”47:35″] Final Words

[spp-tweet tweet=”Be more intentional with your financial resolutions @whitneyhansenco #MONEYNERD on LIVETHEFUEL”]

Links and Resources

People Mentioned

Final Words

Be more intentional. You can do anything in the world that you want. But you can’t have everything. Your savings are important. Look at your expenses, does what your spending align with your values and goals? If it doesn’t start to make a few tweaks so that it does.

Action Steps

Please Submit an iTunes Show Rating & Review, we need more reviews to increase our ranking and appearance. We love 5 Stars!
Join THE FUEL TANK our community on Facebook! – “You are the average of the five people you spend the most time with.” ~ Quote by Jim Rohn
Be sure to check out our Resources and a reminder to “Keep Living The Fired Up Epic Life everyone!” #livethefuel

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027: Success by Leadership at THRIVE with David Byler

Scott Mulvaney — Mon, 28 Nov 2016 17:45:00 +0000

Leadership, Success and your THRIVE Co-host:

Leadership builds success. The best investment in life is you. That’s right, you. It’s the one thing that gets neglected in life the most. It’s not a selfish act. Unhappy with his 9-5 career aka job, David decided to free himself and start working to help assist other millennial’s and entrepreneurial minded people. This episodes co-host is a fellow Thrive: Make Money Matter attendee. David Byler first attended the Thrive event back in 2015 and roomed with me at this year’s 2016 event. He took the plunge after investing in Tai Lopez’s 67 Steps course. After this event, he saw the importance of continuing to be learning and investing in yourself. This investment has led David to create the brand SuccessByLeadership.com.

On This Episode You Will Hear:

[spp-timestamp time=”06:28″] Thrive 2015 was Davids first event ever and it changed his life forever
[spp-timestamp time=”09:09″] The 67 Steps to forming a habit and Opening the doors to knowledge
[spp-timestamp time=”11:04 “] The reason for David going to Thrive was about seeing success in the flesh. Growing up in a small town in West Virginia, money was always seen as a bad thing.
[spp-timestamp time=”13:00″] You need an emotional trigger to help get over the fear of failure to ultimately take action.
[spp-timestamp time=”14:43″] What inspired David to start SuccessByLeadership.com. For David, it started with a lot of unhappiness.
[spp-timestamp time=”16:41″] Before investing in Tai Lopez’s course, David had never made that sort investment before. He always followed the course that people around him followed.
[spp-timestamp time=”19:49″] The Quarter Life Crisis
[spp-timestamp time=”21:29″] David has always liked finance and has been a natural saver. Watching people he managed, mismanage their own money and watching their lives spiral out of control drove him nuts.
[spp-timestamp time=”25:43″] Practices from the book, Profit First
[spp-timestamp time=”28:12″] Being efficient and effective with your money by dividing money into multiple accounts
[spp-timestamp time=”29:23″] Most people don’t control their money, so making more money won’t solve the issue
[spp-timestamp time=”30:40″] If you don’t like what you have, you have got to start thinking about what else can you do. Then you can start taking small steps. It’s not going to happen overnight.
[spp-timestamp time=”34:43″] If you want to build your freedom, make sure you build a successful team behind you.
[spp-timestamp time=”36:08″] David helps businesses with their production needs and helps people with their finances allowing them to build the life of freedom they want.
[spp-timestamp time=”37:48″] The freedom trifecta – Financial Freedom, Location Freedom, and Time Freedom
[spp-timestamp time=”40:31″] You got to get to at least one event every year. You must go invest in yourself.
[spp-timestamp time=”46:43″] It’s not always about entrepreneurship. It is about providing value. Don’t just go to events in your industry
[spp-timestamp time=”50:20″] If you want to be a millionaire, make two million so you can give a million away.
[spp-timestamp time=”51:41″] Control and constraints to allow freedom in your life
[spp-timestamp time=”54:21″] Final Words

[spp-tweet tweet=”Always invest in yourself. David Byler, Success by Leadership on LIVETHEFUEL.com/027″]

Links and Resources

People Mentioned

Final Words

Always invest in yourself. “If you don’t control your money, your money will control you.”

Action Steps

Thank you for listening, please take a few minutes to Submit an iTunes Show Rating & Review, we love 5 Stars!
Join THE FUEL TANK on Facebook! – “You are the average of the five people you spend the most time with.” ~ Quote by Jim Rohn
Follow us on all of social media @LIVETHEFUEL – “Keep Living The Fired Up Epic Life everyone!” #livethefuel

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018: Geeking with the Money Nerd Whitney Hansen

Scott Mulvaney — Fri, 28 Oct 2016 14:00:00 +0000

On this episode, I connect with the other half of a previous co-host Tony Huynh, TheInstaGuy.co. Today we dive into the world of finance. Our co-host has a background in finance and has been pursuing her entrepreneurial passion for three years now. She helps people create budgets, pay off college loans quicker and plan for the future. A lot of people struggle with this regularly.

A lot of us suffer from limiting beliefs when it comes to money. One of the main reasons is because of the way we grew up. We have to remember money is just a tool, and it doesn’t need to be hard. Today’s co-host aims to put us at financial ease, today’s co-host is Whitney Hansen of The Money Nerd Podcast.

We talk Money and more on this episode:

[spp-timestamp time=”5:34″] How Whitney got into personal finance
[spp-timestamp time=”6:26″] Paid off $30,000 of student loans in Ten Months
[spp-timestamp time=”8:17″] Working two jobs for two years
[spp-timestamp time=”8:48″] Office space
[spp-timestamp time=”10:59″] Being disciplined and living a minimal lifestyle
[spp-timestamp time=”14:13″] Being busy stops you spending
[spp-timestamp time=”16:08″] Identify where you are spending in the wrong areas and start spending heavily in the right areas.
[spp-timestamp time=”18:23″] You should have multiple savings accounts, one for your emergency funds, maybe one for the upkeep of your car or a vacation fund
[spp-timestamp time=”19:07″] Profit First
[spp-timestamp time=”20:22″] There are two types of people when to comes to money. Those who don’t want to think about their money, they just want everything to happen automatically and there are those who want to manually move the money between accounts
[spp-timestamp time=”22:00″] Embrace who you are, recognize your strengths and short comings but don’t ignore them.
[spp-timestamp time=”22:29″] Your a saver or a spender
[spp-timestamp time=”26:25″] Money is just a tool
[spp-timestamp time=”28:05″] Taking control
[spp-timestamp time=”33:06″] Make money matter
[spp-timestamp time=”34:45″] Limiting beliefs when it comes to money usually comes from the way grew up.
[spp-timestamp time=”41:40″] Budgeting and checking in with yourself
[spp-timestamp time=”44:44″] The snowball effect
[spp-timestamp time=”45:25″] Give yourself a little win
[spp-timestamp time=”46:41″] Vision boards and VAK – https://en.wikipedia.org/wiki/Learning_styles
[spp-timestamp time=”51:16″] Bikini model and we talk about the book “Quarter Life Crisis”
[spp-timestamp time=”58:01″] About The Money Nerds Podcast
[spp-timestamp time=”60:40″] The power of Podcasting
[spp-timestamp time=”64:17″] Money Nerds Podcasts shares best practices and tips
[spp-timestamp time=”67:51″] If you are a business owner, Set 10% of your revenue, not profit aside for conferences or courses. This budget is for continuing education
[spp-timestamp time=”68:50″] Going to events and moving away from your home office and start networking
[spp-timestamp time=”70:45″] Personal Branding
[spp-timestamp time=”78:03″] Money. Don’t make it too hard
[spp-timestamp time=”83:18″] Final Words

[spp-tweet tweet=”Your financial life impacts your entire life. It’s not just a piece. It is all intertwined – Whitney Hansen on LIVETHEFUEL.com/018″]

Links and Resources

People Mentioned

Final Words

Your financial life impacts your entire life. It’s not just a piece of your life. It is all intertwined. As soon as you figure out how to manage your money and it does not need to be difficult, the sooner you can figure out that process. The better the quality of life is going to be. Make sure you are prioritizing that and you are doing the research you need to make sure you understand how your money works.

Action Steps

Thank you for listening, please take a few minutes to Submit an iTunes Show Rating & Review, we love 5 Stars!
Join THE FUEL TANK on Facebook! – “You are the average of the five people you spend the most time with.” ~ Quote by Jim Rohn
Follow us on all of social media @LIVETHEFUEL – “Keep Living The Fired Up Epic Life everyone!” #livethefuel

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