Succession Planning for Business Owners, Investors, and Financial AdvisorsSuccession Planning: 7 Critical StepsSuccession planning is a critical process that impacts both investors and their investment advisors. Understanding this process ensures that clients' financial interests are protected and that advisors can smoothly transition their businesses when necessary. Here’s a guide to help you and your investment advisor navigate this important journey together.Watch it on YouTube!

Purpose-Centered Financial PlanningSponsored by BayRock Financial For Women of Wealth, Business Leaders, and Financial Planning ProfessionalsPurpose-Centered Financial Planning: Aligning Your Financial Goals with Your Values

In today's complex financial landscape, many individuals and business owners struggle to find financial advice that truly aligns with their values and long-term goals. Purpose-Centered Financial Planning aims to bridge this gap by focusing on What Matters Most to clients, offering a holistic approach that integrates their personal and professional aspirations.

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Day 7: Clarifying What Matters Most - to You 📽‼️

Welcome to Day 7 of "30 Days to Make Your Money Count." Today, we embark on a journey of self-discovery and clarity as we explore the importance of defining what matters most to you.
Click Here to Download Chapter 3 Powered by Purpose

 

Mentioned in this episode:

MM Intro 2024

Meet The Millionaire Next DoorThe Millionaire Next Door was written by Thomas J. Stanley and William D. Danko. The Millionaire Next Door was originally published in 1996.

The book explores the concept of wealth accumulation and challenges common misconceptions about millionaires.

The authors conducted extensive research to understand the characteristics, habits, and lifestyles of millionaires in the United States.

The main premise of the book is that many millionaires are not the flashy, extravagant individuals often portrayed in the media.

Instead, the millionaires next door tend to live modest and unassuming lives. The authors identify seven key characteristics of these “millionaires next door”:

1. Frugality: Many millionaires are diligent about controlling their expenses and living within their means.
2. Savings and Investing: Millionaires focus on saving a significant portion of their income and investing wisely. They prioritize long-term financial goals over short-term consumption.
3. Education: Education is highly valued among millionaires. They tend to be lifelong learners and invest in their own knowledge and skills.
4. Entrepreneurship: A significant portion of millionaires are self-employed or own small businesses. Entrepreneurial ventures have contributed to their financial success.
5. Avoiding Debt: Millionaires tend to avoid excessive debt and are cautious about taking on financial liabilities.
6. Ownership of Appreciating Assets: Millionaires often invest in assets that appreciate over time, such as real estate, stocks, and businesses.
7. Discipline and Persistence: Achieving millionaire status requires discipline, hard work, and perseverance over the long term.

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30 Days to Make Your Money Count Over the last decade a small, secret group of Jesus Followers have been working to raise up a new breed of wealth managers. 
 

This special group of wealth managers is focused on helping people create a better plan for using their money, to make a difference. To make a difference in their communities. To make a difference in culture. To make a difference, in the world. And, as always, to make a difference in the lives of the people they love. 

We all know, that true wealth, is not about having more toys and trinkets. True wealth is about influence, and impact. 

Money is tangible, but money is also emotional in nature. It's necessary for the exchange of goods and services, but money is also, often, what divides spouses and families. Money is a primary source of permanent scars among loved ones. It's used to rebuild entire nations and their infrastructure, but money is equally vitalto support the poorest among us, for food and shelter.

If you're a Financial Advisor, and if you want to learn more about our special group of financial influencers, join me, on The Salty Advisor Podcast. 

In each episode, we take a fresh dive into the principles, and the process, of building wealth. If you're ready to take your Financial Planning Process to the next level, Enroll today at MissionalMoney.com

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Amazon Employee Investment StrategiesHey Amazon employees, welcome to an enlightening episode of The Missional Money Podcast. Today, we're exploring Amazon 401k Optimization Strategies with an eye on maximizing returns and minimizing risk. Back in 2019, Nick had $100,000 invested solely in the VANGUARD TARGET 2040 Blended Fund. However, after meeting with me (Jim Munchbach, CFP® Professional, for a quick Financial Planning Review, I suggested that Nick consider putting a couple of my favorite investment strategies to work in his Amazon 401k plan. I wanted to test my marketing team with our new army of AI soldiers (too many to list here in this post, much more to come in future posts about AI and the AI Tools we use at BayRock Financial). Watch this Video in YouTube!

What is Fiduciary Advice?

• What is Fiduciary Advice by Investopedia
• What is Fiduciary? Let's Ask Clark
• Independent Fiduciary Advice vs. Financial Advisor
• Fiduciary Advice vs. Financial Planning Education
• Fiduciary Advice vs. Financial Coaching 
• Independent Fiduciary Advice Fee Structure
• Hidden Fees and Conflicts of Interest
• Fiduciary Advisory Client Onboarding
• Client Onboarding Risk Tolerance
• Client Intake Forms
• Client Onboarding Legal Documents
• Client Onboarding Agreements
• Fiduciary Advice and Advisor Coordination
• The Financial Planning Gap Analysis

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Hi, I'm Jim Munchbach, CFP® Professional and Independent Fiduciary Advisor. As CEO of BayRock Financial, I provide Financial Planning and Investment Management services to clients who pay me a fee to be their Independent Fiduciary Advisor.

I also provide lots of free Financial Coaching for DIY Investors with educational content on my blog and social media platforms. I specialize in helping small business owners Save More Money, Pay Lower Taxes, And Build a Better Retirement 💼💰

📚 Background & Expertise: I spent the first half of my career on Wall Street, learning the secret sauce of wealth management. As a Certified Financial Planner™ Professional (CFP®), Chartered Life Underwriter (CLU®), Chartered Financial Consultant (ChFC®), and Chartered Property Casualty Underwriter (CPCU®), I possess the knowledge and skills to help you navigate the complexities of the financial world. 💼📚

💡 Value I Offer: As an Independent Fiduciary Advisor, I'm dedicated to helping individual investors, families, and business owners manage the risk and opportunity of everyday life, recover from the unexpected, and realize their highest purpose.🚀

🔹Independent Fiduciary Advice at BayRock Financial, a Texas based RIA. Jim Munchbach, CEO and CFP® Professional.

🔹📽️ https://bayrockfinancial.com 🎙️🔹

#FinancialPlanning #Podcast for DIY Investors, Families, and Small Business Owners

📽️Jim Munchbach, Host at The Missional Money Podcast: 🎙️

https://missionalmoney.com

Financial Planning Podcast for Financial Advisors

📽️Jim Munchbach, Host at The Salty Advisor Podcast:

http://saltyadvisors.com 🎙️

Connect with Jim Munchbach on YouTube, LinkedIn, Twitter, Facebook, and Telegram: @JimMunchbach

🔹YouTube: https://www.youtube.com/@JimMunchbach

🔹LinkedIn: http://www.linkedin.com/in/JimMunchbach

🔹Twitter: http://twitter.com/JimMunchbach

🔹Facebook: http://www.facebook.com/JMunchbach

🔹Telegram: https://t.me/MissionalMoney

Getting Started on your Financial Planning Journey

Getting started can be a little scary. Or, it can be exciting. I'm getting started with a new Fitness Coach - Justin Howell. Today's lesson is Getting Started, you can watch Justin's video on YouTube

Here's how Justin opens his video: "Thoreau once said that human life is wasted in waiting."

“Heaven is under our feet as well as over our heads.” “A man is rich in proportion to the number of things which he can afford to let alone.” “Rather than love, than money, than fame, give me truth.” “For my greatest skill has been to want but little.”

Let him practise the minor virtues. How much of human life is lost in waiting! let him not make his fellow-creatures wait. How many words and promises are promises of conversation! Let his be words of fate.

Justin talks about the concept of wasting time and waiting instead of taking action to pursue happiness and do things we love. It emphasizes the importance of not just waiting for the right time to start making positive changes in our lives, such as improving nutrition and exercise habits, but also having a plan that fits our individual needs and motivations. 

Justin suggests seeking guidance from fitness professionals and being open to their advice, even if it involves facing challenges because it will be hard.

Justin offers support and complimentary consultations to those who are committed to changing their lifestyle and achieving their goals and he encourages us to start now by thinking about what we want to accomplish and researching ways to help us succeed. 

The key message is to not give up hope, seek assistance, and be honest with ourselves when creating a plan for personal growth.

Turning Point - Watch the Video - Click Here

About 30 Days to Make Your Money Count30 Days to Make Your Money Count is our FREE online course for DIY Investors and Small Business Owners. You'll have full access to our Premium Planning Portal, RiskAlyze portfolio checkup, #AskMeAnything Weekly Zoom Meetings, One-On-One coaching and much more. Our online Financial Planning Courses are generally designed to help you Save More Money, Pay Lower Taxes, And Build a Better Retirement. Sign Up for 30 Days to Make Your Money Count Click Here

Missional Money Membership Offer

Missional Money Membership for DIY Investors, and Financial Advisors. Get full access to our RightCapital Planning Portal, all Premium Courses, Make Your Money Count, The Blueprint, and much more. Lock in our introductory price of $24.95 per month.