#518: If you want to learn about building wealth through entrepreneurship, you’ll enjoy this episode.

When Rachel Rodgers graduated from law school, she didn’t take the conventional path to working at a big law firm. Instead, she opened her own practice, specializing in intellectual property law. Many of her clients were entrepreneurs and small business owners.

Rachel quickly realized that many of her clients faced significant challenges in trying to grow their business. This ignited a new vision in her: to not just provide legal services but to help entrepreneurs achieve financial success.

She pivoted, shutting down her law practice to open Hello Seven, a company that offers comprehensive business strategies to help entrepreneurs reach seven-figure incomes.

She joins us today to share actionable insights that can help any entrepreneur, side hustler or small business owner reach seven figures in revenue.

Timestamps:

[Note: Time codes will vary on individual listening devices based on advertising run times.]

1:10 - Rachel introduces herself and her background in intellectual property law.

3:45 - Decision to start her own law practice.

5:27 - Challenges faced as a new lawyer and entrepreneur.

7:15 - Importance of financial independence and wealth-building for marginalized communities.

10:05 - Inspiration behind founding Hello Seven.

12:30 - Vision for Hello Seven and its mission to help entrepreneurs reach seven-figure incomes.

15:20 - The need for scaling businesses and making strategic decisions.

18:45 - Transition from a legal practice to a broader business coaching platform.

22:10 - Impact of Hello Seven's programs on entrepreneurs' lives.

24:55 - Concept of the "Million Dollar Badass."

28:30 - Success stories of clients.

31:15 - Challenges of balancing business growth with personal life.

34:05 - Importance of mindset in achieving business success.

37:20 - Introduction of the Hello Seven Foundation and its focus on supporting black mothers and babies.

40:00 - Plans for the future of Hello Seven and commitment to social impact.

42:30 - Advice for aspiring entrepreneurs looking to build successful businesses.

45:10 - Importance of mentorship and community support in entrepreneurship.

For more information, visit the show notes at https://affordanything.com/episode518

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#517: Kimiko is dismayed that the asset allocation books she’s read led her down a path to an underperforming portfolio heavy in ex-US stock investments. Where should she go from here?

Julie and her husband dream of owning a vacation rental in the Denver area even though the math doesn’t add up. It seems like everyone around can make it work though. What’s missing? 

Casey is excited to build his real estate portfolio and purchase his third rental property. He’s also worried that his plan to fund the purchase with his 457 Plan is flawed. What should he do?

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode517

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#516: Have you ever wondered how small, seemingly insignificant actions can have massive impacts on your financial life? 

In today's episode, we talk to Dr. Brian Klaas, a Professor at University College London and an affiliate researcher at the University of Oxford. 

He explains how our decisions can lead to unintended and unanticipated consequences. 

He describes why resilience is more important than efficiency when it comes to protecting your investments and career from unexpected shocks. You'll learn how to tell the difference between predictable problems and those that are full of uncertainty, giving you a new way to think about your decision-making process.

Key Takeaways:

For more information, visit the show notes at https://affordanything.com/episode516

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Jessica and her husband are juggling two home sales and one home purchase within the next two to four years. How do they execute wisely while navigating a tight real estate market?

Zerai works two jobs that both offer a pension and retirement plan. Can he take advantage of everything at his disposal or must he make some tough choices?

Emily and her husband bought their home a year ago. But a national builder tempts them to sell and upgrade using a 3-2-1 buydown mortgage. Should they do it?

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

TIMESTAMPS: Please visit the show notes at https://affordanything.com/episode515

Resources Mentioned:

https://www.irs.gov/retirement-plans/how-much-salary-can-you-defer-if-youre-eligible-for-more-than-one-retirement-plan

https://www.irs.gov/retirement-plans/irc-457b-deferred-compensation-plans

https://www.stackingbenjamins.com/start-2024-right-with-goals-jon-acuff-1459/

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#514: The S&P 500 hit a record high — and the GameStop guy is back, and he now owns 9 million shares of GME, making him the 4th largest shareholder.

Interest rates from remain the same, and are expected to hold steady until September. Inflation remains unchanged from last month.

Last month we saw a massive explosion of new jobs, at 272,000 — nearly 90,000 more than predicted. But we also saw unemployment tick up, which created mixed signals.

Learn the implications of the latest economic news — and how it impacts your wallet — in this month’s economic update.

For more information, visit the show notes at https://affordanything.com/episode514

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#513: Jason Tartick, a former banker and TV star from The Bachelorette, discusses finances in relationships. He describes eight crucial questions about money that every couple should discuss.

When a couple is dating, but before they get serious, he says, each person should divulge their debt-to-income ratio. This is your monthly debt payments divided by your gross monthly income. Keeping this ratio below 30-40% is crucial for financial stability. Banks consider this when approving loans.

Couples still in the dating stage should also discuss their credit scores. If you're thinking about becoming serious with someone, you need to understand their history with debt, and their attitude towards debt, since you'll likely be co-borrowing together if the relationship lasts. A couple with a good credit score can save around $100,000 on a $300,000 mortgage over 30 years.

Couples should avoid shaming or blaming each other during these money conversations, he says. The goal is to understand each others' financial attitudes, habits and history -- not to point fingers or make judgments.

After marriage or lifetime commitment, Jason emphasizes the importance of having both individual and joint bank accounts. This allows each person to enjoy autonomy, while also contributing towards shared expenses. Regularly reviewing your net worth as a couple provides transparency and helps avoid misunderstandings.

He also talks about financial infidelity -- what is it, and how can you spot it?

Finally, Jason encourages couples to discuss spending habits, in order to understand each others' values and goals.

Here's a great question to ask your boyfriend, girlfriend, spouse or partner: "If you had an unlimited budget, what's the first thing you would you spend it on?" The answer reveals the persons' priorities.

For more information, visit the show notes at https://affordanything.com/episode513

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#512: An anonymous caller who received a large inheritance feels paralyzed by all the investment philosophies he’s read about. How does he pick a winning strategy he can stick with?

Josh is an expectant dad looking to buy a bigger house but doesn’t know how much everything will cost. Should he save more or invest more?

Another anonymous caller worries that large expenditures like buying a new car or replacing her home’s roof will blow up her budget in retirement. How does she plan for unexpected expenses?

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode512

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#511: Sara is five years from retirement with a paid-off house. But she’s worried that her money will run out before she turns 80. What does she need to do now to protect her future self? 

Lauren is a personal finance nerd who gets it. But one question perplexes her: When should she should choose an ETF over an index mutual fund? What about vice versa? Paula and Joe explain.

An anonymous caller plans to sell her house and live a “slow-madic” lifestyle. But she’s on disability and needs to keep her money safe. How should she invest her $500,000 windfall?

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode511

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#510: Maybe you’re trying to convince:

– Your spouse | to embrace the FIRE movement.

– Your teenage kids | to invest some of their summer job money in stocks.

– Your neighbor | to sell you their house in a private, off-market deal.

– Your boss | to give you more vacation time.

– Your client | to pay you more.

Today’s episode is about how to change minds, build trust, navigate conversations, and influence and persuade others.

We chat with Michael McQueen, a social researcher, strategist, and the author of 10 books.

He’s spoken alongside Bill Gates, Apple co-founder Steve Woznick and Dr. John C. Maxwell, and was named Australia’s Keynote Speaker of the Year. His latest book, Mindstuck, focuses on how to be more persuasive.

Here are some of the ideas we cover:

Stubbornness: We tend to be stubborn because of our inherent desire to protect our existing beliefs and identities. This is partly due to the fact that the human mind has a tendency to make quick judgments and resist challenges.

Logical Fallacy: People often rely on confirmation bias and tribalism when evaluating information. We tend to favor information that aligns with our existing beliefs and groups we identify with.

Complexity over Extremes: When presented with opposing viewpoints, exposure to extreme viewpoints can – counterintuitively – make people more entrenched in their own beliefs. Introducing complexity and nuance can foster a more open-minded approach.

Here are some of his tips:

McQueen elaborates on these tips in today’s podcast episode. Enjoy!

For more information, visit the show notes at https://affordanything.com/episode510

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#509: Rob wants to retire early, but a real estate investment led to $30,000 of credit card debt. Should he take on more debt to pay it off?

An anonymous return caller took Paula’s advice and ran with it, doubling her income within a few years. Should she update her investment strategy now that she’s in a higher tax bracket?

Humaira is tired of paying rent with nothing to show for. Can she leverage some benefits by using her credit card to pay the bills?

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode509

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