Does talking about money and going over the numbers in your budget make you feel uncomfortable? If so, you are not alone. So many of us are unaware that we have inherited a money mindset, and we may have heard that money and wealthy people are evil, or that money is hard to make. There are usually no classes in school that teach us how to build wealth, so we are left to figure it out on our own, and most of us truly are unaware of how to improve our financial perspective and cash flow.

In this episode, Alison is talking to the “Profit Answer Man”, Rocky Lalvani and he is so generous with his knowledge about building wealth. He believes it is information we should all have access to, yet unfortunately most people are holding onto money mindsets that are keeping them stuck and they continue to make decisions that pull them further away from compounding wealth and living a life of financial freedom.

Rocky emphasizes the importance of understanding what it means to compound wealth, and how you can get started as soon as possible. He shares incredibly valuable tips for cutting unnecessary spending, which doesn’t have to mean giving up the daily latte you love. You don’t want to miss Rocky’s money mindset advice!

Key highlights:

• Introduction to Rocky Lalvani the “Profit Answer Man”
• Rocky’s backstory of coming to this country as an immigrant with $25
• A lot of us have money mindset ideas passed down as scripts from when we were children
• Why aren't more people successful?
• Alison’s experience incorporating “profit first” principles
• What most people struggle with
• What is compounding?
• Advice to someone in their 50’s or 60’s who hasn’t gotten started with compounding savings 
• The importance of figuring out your skills that are valuable and how you use them in a different way
• Automating your savings
• Where should you put your money so it compounds?
• You don't need to go to college to learn
• We tend to not want to talk about money, but you need to get in spaces where people talk about money
• The FIRE movement 
• Mistakes Rocky has made and how to avoid them
• His advice for people feeling discouraged with money

Episode resources:

Book: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz

Connect with Rocky:

Podcast: The Profit Answer Man

Podcast: Richer Soul

Facebook: Richer Soul 

Connect with Alison:

Instagram: @alisonanswers | @lagercounseling

Website: LagerCounseling.com

YouTube: Alison Answers

Facebook: Alison Lager Lcsw Casac