Money & You with Michelle Perkins

Ep 241: Can You Afford to Retire? Start With This Number

Is Your Business Creating Freedom—or Just Giving You a More Demanding Job? A Conversation with Young Han

What if the real measure of business success isn’t how much revenue you generate, but whether your business can operate and grow without depending on you for everything?

In this episode of Money and You, Michelle talks with entrepreneur, investor, and business operator Young Han, who is on a five-year sprint to own 20 cash-flowing businesses. He currently operates 14 companies, including a fractional CFO and COO firm, Blue Ocean Pool Service, a Blooming Blinds franchise, and Owners Club, a community for small business owners.

Young’s long-term vision extends beyond building his own portfolio. Inspired by his father’s experience as an immigrant small-business owner, Young wants to help more people use business ownership as a path into the middle class—and create greater financial stability, opportunity, and freedom for themselves and their families.

Young shares the failures, experiments, and career changes that led him to small-business ownership. After attempting to build wealth through approaches including individual stocks, cryptocurrency, real estate, and angel investing, he recognized that his strongest skills were in operating and growing businesses.That realization eventually led him to develop and test an operating system designed specifically for small businesses working toward their first $1 million or $2 million in annual revenue.

In This Episode, You’ll Learn:

• Why Young believes small-business ownership can help rebuild the American middle class
• Why failure needs to be treated as a normal part of entrepreneurship
• The surprising difference between succeeding in a corporate job and succeeding as an entrepreneur
• Why early-stage business owners need to become “great at being good”
• How expertise can become a limitation when an owner tries to do everything personally
• Where Young sees opportunities in trades, home services, and other essential businesses
• Why Young initially built businesses instead of acquiring existing ones
• Why the first $1 million in revenue can be such an important milestone
• Why operating systems need to be introduced earlier in a company’s development
• What the “absence test” reveals about whether you own a business or a job
• Why discipline is often more important than extraordinary talent

Getting Comfortable With Being “Good Enough”One of Young’s most interesting observations is that the skills rewarded in corporate life can sometimes make entrepreneurship more difficult.In a corporate role, people often advance by developing deeper expertise in a particular area. An early-stage business owner, however, may need to shift constantly among marketing, sales, operations, hiring, finances, and customer service.Young describes his process as a spiral staircase of “good enoughs.” You establish a workable product, move to marketing, improve sales, address hiring, and then return to each area as the business grows. Over time, those layers can develop into excellence.

Why Essential Businesses May Offer Growing OpportunitiesYoung believes trades, home services, manufacturing, and other needed, basic businesses offer meaningful opportunities today.Consumers need reliable painters, plumbers, electricians, pool-service providers, cleaners, gardeners, carpenters, welders, and other skilled workers. In many areas, simply answering the phone, communicating clearly, arriving when promised, and thanking customers can distinguish a company from its competitors.Although artificial intelligence may eventually affect nearly every industry, Young believes hands-on service businesses may be less immediately vulnerable than many white-collar roles.These businesses may not always appear glamorous, but they can provide essential services, create jobs, generate dependable cash flow, and give skilled workers a pathway to ownership.

The Importance of Reaching the First $1 MillionYoung’s operating system focuses on helping businesses progress toward their first $1 million to $2 million in annual revenue.Before reaching that level, many owners remain trapped in a cycle of selling the work and then personally delivering it. They may be too busy to build systems but lack the cash flow to hire the people who could relieve their workload.Revenue alone, however, is not Young’s ultimate goal. A large company that cannot function without its owner may provide less freedom than a smaller, well-run company with strong systems and capable leadership.

Do You Own a Business—or a Job?Young uses two questions to evaluate true business ownership:
Can the business operate without you?Can the business grow without you?If every important decision, sale, customer relationship, or operational task still depends on the owner, that person may have created a highly demanding job with greater risk rather than a transferable business.Young refers to this as the “absence test.” The goal isn’t necessarily to leave the company completely. It is to create the choice to step away—or to participate only in the parts of the business you genuinely enjoy.About Young HanYoung Han is an entrepreneur, investor, and business operator on a five-year sprint to own 20 cash-flowing businesses.He currently operates 14 companies and hosts the Girl Dad Show, a podcast about building companies without disappearing from the family you are building them for.Connect With YoungOwners Club: owners.clubOwners Club offers a free community for small-business owners, including networking opportunities, expert-led classes, and live coaching sessions.Young also offers a self-guided course introducing his small-business operating system, individual implementation support, and fractional CFO and COO services for larger companies.

Connect With MichelleDo you have a money or career question you’ve been hesitant to ask?Schedule a free virtual coffee chat with Michelle—a casual, no-pressure, 20-minute conversation where you can bring one question or situation you’re wrestling with and talk it through.

Learn more and schedule your conversation: limitfreelife.com

You can also find Money and You on the Limit Free Life YouTube channel and your favorite podcast platforms.If you enjoyed this conversation, please subscribe, rate, and review the show. It helps more people discover these conversations and allows us to continue bringing thoughtful guests and practical financial education to you.This episode is for educational purposes only and should not be considered individualized financial, investment, tax, or legal advice.

Subscribe to the “Money & You With Michelle Perkins” Podcast: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575

Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!

Join the Limit Free Life® Community & Newsletter:
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Learn more about Michelle Perkins & Limit Free Life®:
https://limitfreelife.com

 Have a money or career question? Book a free virtual coffee chat with Michelle:
https://limitfreelife.com/booking/?utm_source=chatgpt.com

 Instagram: @livealimitfreelife

 YouTube: The Limit Free Life Channelhttps://www.youtube.com/@michelleperkins-limitfreel2446

The content shared on Money & You is for informational and educational purposes only and does not constitut

What Does Your Retirement Really Need to Look Like? A Conversation with John Link

Retirement planning is about much more than choosing investments or pursuing the highest possible return. It’s about understanding how all the pieces of your financial life work together—and making decisions based on the life you actually want to live.In this episode of Money and You, Michelle talks with John Link, president of Link Financial and Link Wealth Management and author of The Importance of Everything.

John helps individuals who are approaching or living in retirement turn their savings into sustainable income plans. His approach emphasizes education, transparency, thoughtful conversations, and planning around the individual—not simply around a portfolio.John shares his unexpected career transition from the grocery business into financial services and explains how the lessons he learned managing stores, employees, and extremely narrow profit margins continue to influence his work today. One of the most important was what he calls “four-wall responsibility”: taking ownership of everything happening within your area of responsibility.That same principle applies to money. Avoiding a financial decision is still a decision, and understanding what you have—even when the news isn’t perfect—allows you to begin making thoughtful choices.Michelle and John also discuss why retirement decisions cannot be made through generic rules. Advice about Social Security, taxes, retirement accounts, inheritances, and investment strategies must be considered in the context of a person’s health, family, goals, income needs, and overall financial situation.

In This Episode, You’ll Learn:

- Why retirement planning is about more than investment returns
- Why personal responsibility is an important part of financial well-being
- How the financial industry can make people feel unnecessarily intimidated
- Why there are no “dumb questions” when discussing your money
- How your retirement vision affects the amount of income you will need
- Why it may make sense to spend more during your early “go-go” retirement years
- How lifelong money habits can follow you into retirement
- How family meetings can make estate planning easier for everyone
- Why treating beneficiaries fairly doesn’t always mean giving them identical assets
- The difference between the economy and the stock market
- How “buckets of money” can support short-, medium-, and long-term needs
- The importance of looking beyond your workplace retirement account
Planning for the Life You Want

One of the most important retirement questions has nothing to do with the market:

What do you actually want your retirement to look like?

Some people want to travel extensively. Others want to remain comfortably at home, help their children, support charitable causes, or leave a meaningful inheritance.John explains that retirement spending often changes over time. The early years may be the best opportunity for travel and other physically active experiences. These are sometimes called the “go-go years,” followed by the “slow-go” and “no-go” years.By creating a thoughtful income and expense plan, people may discover that they can afford to enjoy more of their money while they have the health and desire to do so.

Why Family Financial Conversations Matter

Financial planning also includes preparing the people you love.John encourages families to talk openly about estate plans, healthcare directives, responsibilities, inheritance expectations, and where important information can be found. These conversations may feel uncomfortable, but they can prevent confusion, resentment, and additional distress during an already emotional time.

Creating Different Buckets for Different NeedsRather than treating every dollar the same way, John discusses creating separate “buckets of money” for different time periods and purposes.Money needed for today’s expenses should not necessarily be handled the same way as money that may not be needed for another five, ten, or twenty years. Separating immediate spending, future income, and longer-term growth can help people avoid relying on volatile investments for current living expenses.Taxes also need to be considered. The amount shown in a tax-deferred retirement account is not necessarily the amount available to spend because taxes may be owed when the money is withdrawn.This is why retirement planning involves not only asset allocation—how money is invested—but also asset location, or where different types of investments are held.

About John Link

John Link is president of Link Financial and Link Wealth Management and a fiduciary investment advisor representative with Royal Fund Management.Before entering financial services, John spent 23 years in the grocery industry, becoming the youngest store manager in his company at age 23 and eventually managing millions of dollars in revenue and hundreds of employees.For more than three decades, he has helped individuals approaching or living in retirement create sustainable lifelong income plans. His philosophy is that retirement planning should put people ahead of portfolios and emphasize transparency, education, and individual needs.John is also the author of The Importance of Everything.

Connect With John
Website: https://johnlinkcompanies.com/

Book: The Importance of Everything, available on Amazon

Connect With Michelle
Do you have a money or career question you’ve been hesitant to ask?Schedule a free virtual coffee chat with Michelle—a casual, no-pressure, 20-minute conversation where you can bring one question or situation you’re wrestling with and talk it through.

Learn more and schedule your conversation: https://limitfreelife.com/You can also find Money and You on the Limit Free Life YouTube channel and your favorite podcast platforms.If you enjoyed this conversation, please subscribe, rate, and review the show. It helps more people discover these conversations and allows us to continue bringing thoughtful guests and practical financial education to you.This episode is for educational purposes only and should not be considered individualized financial, investment, tax, or legal advice.

Subscribe to the “Money & You With Michelle Perkins” Podcast: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575

Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!Join the 

Limit Free Life® Community & Newsletter:
https://limitfreelife.com/newsletter/https://substack.com/@livealimitfreelifeLearn more about

Michelle Perkins & Limit Free Life®:
https://limitfreelife.com/

 Have a money or career question? Book a free virtual coffee chat with Michelle:
https://limitfreelife.com/booking/?utm_source=chatgpt.com

 Instagram: @livealimitfreelife

 YouTube: The Limit Free Life Channelhttps://www.youtube.com/@michelleperkins-limitfreel2446


John Link is an Investment Adviser Representative with Royal Fund Management, LLC, an SEC Registered Investment Adviser. This content is for informational purposes only and does not constitute personalized financial advice. Full disclosures will be provided at the end of this video. Advisory services are offered through Royal Fund Management, LLC, Link Wealth Mgmt. Royal Fund Management LLC is registered as an investment adviser with the SEC and only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. SEC registration does not constitute an endorsement of the firm by the Commission, nor does it indicate that the adviser has attained a particular level of skill or ability. Insurance products offered through (Link Financial). Insurance guarantees are subject to the claims-paying ability of the issuing company. The adviser is paid commissions on the sale of insurance products.


Information presented does not involve the rendering of personalized investment advice but is limited to the dissemination of general information on products and services. The information should not be construed as an offer to buy or sell or a solicitation of any offer to buy or sell securities mentioned here. This presentation should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the advisor as of the date of the presentation and are subject to change. Past performance may not be indicative of future results; therefore, no current prospective client should assume that the future p

AI has changed the job search—and knowing how to use ChatGPT is no longer enough.In this episode of Money and You, I talk with talent acquisition expert Andrea Hoffer, founder of AHA Talent Experts and creator of the AI-powered Dream Hire Engine, about how artificial intelligence is transforming hiring from both sides of the equation.What should job seekers be doing differently? What AI skills are employers actually looking for? Should you customize your resume for every job? And how can you use AI to make yourself more valuable in the work you already do? Andrea brings 30 years of talent acquisition and management experience to this conversation, and her advice for job seekers is especially important: don't just learn AI—learn how to use AI in your profession.

If you're between jobs, this can be an incredible opportunity to experiment. Build workflows. Improve a process. Create a tool. Solve a real problem in your field.We also talk about how AI is changing things for employers. Instead of immediately asking, "Can AI replace this employee?" Andrea encourages businesses to start with the outcome they need and determine the right combination of human skills and AI to achieve it.In some cases, AI might even help a good employee overcome a skill gap and become far more effective.The future of work may not be humans versus AI at all.It may be humans plus AI.

CHAPTERS

00:00 How AI Is Changing the Job Search
02:16 What's Different About Hiring Now?
04:26 The Unintended Consequences of AI in Hiring
06:00 Can Employers Still Trust a Resume?
13:24 Do Cover Letters Still Matter?
16:30 Why You Should Customize Your Resume
18:00 What AI Skills Are Employers Looking For?
26:00 Don't Just Learn AI—Use It in Your Profession
31:00 How Employers Should Think About AI and Jobs
41:00 Where AI Can Save Businesses Time
46:51 Can AI Help a Struggling Employee Succeed?
47:51 Building Dream Teams With AI + Humans

ABOUT ANDREA HOFFER

Andrea Hoffer is the founder of AHA Talent Experts and creator of the AI-powered Dream Hire Engine. With 30 years of experience in talent acquisition and management, Andrea helps leaders hire, engage, and retain great people while integrating AI into their businesses.Through the Dream Hire Engine, fractional talent acquisition leadership, and AI Quick Wins, Andrea helps businesses rethink how people and AI can work together to create better outcomes.

CONNECT WITH ANDREAFind Andrea Hoffer on LinkedIn.
https://www.linkedin.com/in/andreahoffer/AHA Talent Experts:
www.ahatalentexperts.com

For more tools and conversations about money mindset, practical financial tips, confidence, and financial empowerment…Subscribe to the “Money & You With Michelle Perkins” Podcast: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575

Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!

Join the Limit Free Life® Community & Newsletter:
https://limitfreelife.com/newsletter/https://substack.com/@livealimitfreelife

Learn more about Michelle Perkins & Limit Free Life®:
https://limitfreelife.com

Have a money or career question? Book a free virtual coffee chat with Michelle:
https://limitfreelife.com/booking/?utm_source=chatgpt.com

Instagram: @livealimitfreelife

YouTube: The Limit Free Life Channelhttps://www.youtube.com/@michelleperkins-limitfreel2446

Most of us think of life insurance for one primary purpose: providing a death benefit to the people we leave behind.But what if certain types of life insurance could also play a role in cash flow, debt management, and long-term wealth-building strategies?In this episode of Money & You, Michelle Perkins sits down with financial educator, author, and Financial Literacy Group founder Ron Harris for a conversation about financial literacy, consumer debt, life insurance, and his approach to what he calls hybrid financial arbitrage.

Ron explains how his years of studying money and economies around the world shaped his perspective on the American financial system—and why he believes consumers need to understand more about the financial strategies traditionally used by banks, corporations, and wealthy families.The conversation takes a deeper look at Indexed Universal Life (IUL) insurance, cash value, policy loans, overfunding policies, and the ways Ron incorporates life insurance into his approach to debt reduction and wealth building.Michelle and Ron also explore a much broader issue: how little many of us actually know about where our money goes.Because whether you're evaluating an insurance strategy, paying down debt, investing, or simply trying to get ahead, financial progress starts with understanding your own cash flow.

In This Episode You'll Learn

• How Ron's international experience influenced his views about money and debt
• Why he believes Americans need a different relationship with consumer debt
• The difference between viewing life insurance primarily as a death benefit and viewing it as a financial asset
• How cash value can accumulate within certain permanent life insurance policies
• How policy loans work within the strategy Ron describes
• How Ron combines cash-flow technology with life insurance in his hybrid financial arbitrage approach
• Why understanding discretionary income is so important
• Why tracking spending often changes financial behavior
• How Ron approaches life insurance differently depending on age, family structure, debt, and financial goals
• Why financial education should come before purchasing any complex financial product

Key Moments

03:00 – How international travel and studying global economies shaped Ron's financial philosophy
04:50 – Consumerism and America's relationship with debt
05:25 – Why Ron believes insurance and investing shouldn't always be viewed as completely separate conversations
08:00 – How banks and corporations use life insurance
11:45 – Understanding cash value and borrowing within a policy
15:25 – Age considerations when evaluating permanent life insurance
18:35 – A case study illustrating Ron's approach
20:55 – Discovering $6,000 a month in unaccounted-for discretionary income
27:00 – How Ron's cash-flow technology works
35:10 – Why simply seeing where your money goes can change your financial behavior
38:20 – Ron's upcoming book, The New American Dream

Key Takeaways

• Know where your money is going.
• One of the most striking examples in the conversation involves a client who appeared to have approximately $6,000 each month in discretionary income but couldn't identify where it was going.
• Before sophisticated financial strategies come into play, awareness matters.
• Interest can dramatically increase the real cost of what we buy. Understanding how debt fits into your overall financial picture is an important part of financial literacy.
• Permanent insurance can involve premiums, cash value, death benefits, policy loans, interest, fees, tax considerations, and specific policy structures. Understanding exactly how a proposed policy works is critical.
• Don't purchase a financial product simply because someone tells you it's what wealthy people or banks use. Understand how your particular policy works, what it costs, what assumptions are being made, and how it compares with your alternatives.
• Once you begin tracking your money and understanding your cash flow, it becomes much harder to ignore financial habits that aren't serving you.

Questions to Ask Before Considering a Cash-Value Life Insurance StrategyIf you're considering an IUL, whole life policy, or another permanent insurance strategy, ask:

• What portion of my payment is the actual insurance premium?
• How much goes toward cash value?
• What fees and insurance costs will I pay?
• Which values are guaranteed and which are projections?
• What interest or index-crediting assumptions are being used?
• Is there a cap, participation rate, spread, or other limitation on credited returns?
• What interest rate applies when I borrow against the policy?
• What happens if I don't repay a policy loan?
• Could outstanding loans reduce the death benefit?
• What happens if the policy lapses with a loan outstanding?
• How would this strategy compare with paying down debt directly and investing separately?
• What are the tax consequences if the policy becomes a Modified Endowment Contract?
• How does my age and health affect the cost of insurance?
• Is this strategy appropriate for my specific financial goals and cash flow?

About Ron Harris

Ron Harris is an author, financial educator, and founder of Financial Literacy Group LLC. He holds a master's degree in Global Marketing and Communications from the University of Essex in the United Kingdom and has spent more than two decades studying money, credit, debt, and wealth-building strategies across different economies.His work focuses on financial literacy and an approach he calls hybrid financial arbitrage, which combines cash-flow and debt-management technology with specially structured permanent life insurance.Ron is the author of multiple books on financial strategies and retirement, including Hybrid Retirement Arbitrage. His upcoming book, The New American Dream, explores debt, retirement, financial products, fees, insurance, and alternative approaches to building wealth.

Resources Mentioned

• Financial Literacy Group
• Hybrid Financial Arbitrage
• Indexed Universal Life (IUL) insurance
• Bank-Owned Life Insurance (BOLI)
• Corporate-Owned Life Insurance (COLI)
• Hybrid Retirement Arbitrage by Ron Harris
• The New American Dream by Ron Harris

Ron Harris: financialliteracy.group

A Note for ListenersThis episode discusses a specific financial and life-insurance strategy presented by the guest for educational purposes. Permanent life insurance products can be complex, and results depend heavily on the particular policy, costs, assumptions, funding, loans, tax treatment, and individual circumstances.Before purchasing or restructuring a policy, consider reviewing the actual policy illustration and discussing the strategy with qualified financial, insurance, and tax professionals who can evaluate it in the context of your overall financial plan.

Connect with Michelle Perkins & Limit Free Life ®Building financial confidence starts with understanding your money—not avoiding it.

For more tools and conversations about money mindset, practical financial tips, confidence, and financial empowerment…

Subscribe to the “Money & You With Michelle Perkins” Podcast: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575

Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!Join the Limit Free Life® Community & Newsletter:
https://limitfreelife.com/newsletter/https://substack.com/@livealimitfreelife

Learn more about Michelle Perkins & Limit Free Life®:
https://limitfreelife.com

 Have a money or career question? Book a free virtual coffee chat with Michelle:
https://limitfreelife.com/booking/?utm_source=chatgpt.com

 Instagram: @livealimitfreelife
 YouTube: The Limit Free Life Channel

What If Your Financial Advisor Helped You With More Than Your Investments?

Most of us think of financial advisors as people who help us invest, plan for retirement, and grow our wealth. But what if some of the most important financial work has less to do with choosing investments?

In this episode of Money and You, Michelle talks with Jonathan Steele, founder and Chief Investment Officer of One Wealth Advisors, about a subject they both believe is fundamental to financial well-being: your relationship with money.

Jonathan brings more than 25 years of financial-industry experience to the conversation, but his approach goes far beyond investment management. He believes financial professionals can help clients understand the emotions, beliefs, family dynamics, and behaviors that influence the way they use money.Michelle and Jonathan explore where our money behaviors come from, why financial knowledge alone isn't enough to create good financial outcomes, and how money patterns can travel through families and generations.They also discuss why getting the financial basics right matters, how couples can create healthier conversations around money, the growing risks of online gambling, and why a trusted financial professional can become an invaluable resource during life's biggest transitions.

In This Episode, You'll Learn

• 3:20 — From professional cook to financial advisor: Jonathan's unconventional career path and the surprising transferable skills that helped him build a career in finance
• 8:56 — Serving the "working wealthy": Why Jonathan and his brother built their practice around people navigating new wealth, liquidity events, and changing financial circumstances
• 10:36 — What Jonathan means by "financial therapy": Why understanding your emotions and history with money can be just as important as knowing what to do with it
• 13:47 — The financial scaffolding everyone needs: Why simple principles like managing debt and balancing spending, saving, and sharing can create a stronger financial foundation
• 16:22 — How parents can help adult children with money: Why creating an open space for conversation may be more effective than trying to dictate financial decisions
• 19:48 — How money patterns travel through generations: What Jonathan notices when he works with grandparents, parents, and adult children within the same family
• 23:46 — Repairing difficult money relationships: How a trusted third party can sometimes help families unwind years of financial tension
• 26:19 — Social media, spending, and financial temptation: Why knowing yourself matters when you're constantly being encouraged to want, buy, and invest in something new
• 31:49 — Signs your relationship with money may need attention: Fear of investing, holding excessive cash, overspending, and complicated debt can all reveal something deeper
• 32:49 — When one partner handles all the money: How financial disengagement and even financial infidelity can develop—and why bringing both partners back into the conversation matters
• 35:00 — Why financial change often needs to happen gradually: Helping people discover their own blind spots can work better than simply telling them what they're doing wrong
• 42:32 — A broader vision of financial advice: Why investment management, taxes, estate planning, insurance, education planning, and financial behavior shouldn't always operate in separate silos
• 49:05 — Lean on people and resources you trust: Why technology can help, but strong human relationships remain incredibly valuable when you're navigating financial challenges
• 50:55 — Is it ever too late to change your financial life? Jonathan's answer: no. Even when a financial situation feels overwhelming, seeking good advice can reveal options you didn't know you had.

The Financial Basics Aren't Exciting—But They Matter

One of the most important themes in this conversation is also one of the least glamorous: the basics matter.Before chasing the newest investment, financial product, or idea you heard about online, Jonathan recommends creating what he calls financial "scaffolding."

That includes understanding debt, spending less than you earn, saving consistently, investing appropriately, and knowing what you're trying to accomplish with your money.Jonathan also shares a simple framework he encourages families to introduce even to young children: spend, save, and share.These principles may not generate the excitement of the latest investing trend, but they're what give you a foundation from which to build real wealth.

Your Money Story Didn't Start With You

One of the most interesting parts of Michelle and Jonathan's conversation is their discussion of how financial behavior travels through families.Fear, scarcity, overspending, avoidance, secrecy, and even extreme frugality don't necessarily begin with the person exhibiting them.Our experiences growing up—what we heard, observed, worried about, or weren't allowed to discuss—can become part of our financial behavior as adults.And those patterns can continue into another generation.

Jonathan has the unusual opportunity to see this firsthand because his firm often works with multiple generations of the same family. Sometimes he can see a financial belief or behavior appear in grandparents, parents, and children in different ways.The solution doesn't necessarily begin with teaching everyone more about investing.Sometimes it begins with something much simpler:

Talking about money.When Couples Don't Talk About Money

Maybe one partner starts paying the bills. Then that person handles the investments. Then they become the one who speaks to the financial advisor.Eventually, the other partner may barely know what's happening.Jonathan believes bringing both people back into the financial conversation—even briefly—can be an important step toward creating a healthier financial relationship.

And sometimes the financial advisor can serve as an impartial third party who helps couples have conversations they've been avoiding.For Jonathan, helping two people who care about each other communicate better about money can ultimately be more meaningful than simply generating a higher investment return.

Your Financial Life Needs a Team

Jonathan also challenges the traditional idea of a financial advisor as primarily an investment manager.Taxes, investments, insurance, estate planning, family dynamics, retirement, inheritance, and major life transitions frequently overlap. Yet the professionals advising us in these areas may operate independently.That can leave you responsible for figuring out how everything fits together—often at exactly the moment you're least equipped to do it.

Jonathan believes a good advisor can help coordinate these moving pieces, bringing in specialists when needed while maintaining a broader view of the client's financial life.That becomes especially valuable during difficult transitions such as the death of a parent.His suggestion is one worth considering before you ever need it: Who are the trusted people you would want around you when you're making important financial decisious during an emotionally difficult time?Think of them as your personal board of directors.

About Jonathan Steele

Jonathan Steele is the founder and Chief Investment Officer of One Wealth Advisors, an SEC-registered investment advisory firm managing approximately $1.3 billion in assets at the time of this conversation.A Chartered Financial Analyst (CFA) with more than 25 years of experience in financial services, Jonathan began his finance career at Bear Stearns and later became an executive director at JPMorgan.

His approach to wealth management combines traditional financial expertise with a strong emphasis on helping clients develop healthier relationships with money.Jonathan works with individuals and multigenerational families not only on investment strategy, but also on the financial behaviors, conversations, decisions, and life transitions surrounding their wealth.

Resources & LinksConnect with Jonathan Steele:
One Wealth Advisors — onewealth.net
Visit the website and use the information/contact button to connect with Jonathan's team.

Connect with Michelle:
Limit Free Life — limitfreelife.com
Email: [email protected] if you have a money or career question you've been avoiding, visit Limit Free Life to book a free 20-minute Virtual Coffee Chat with Michelle.

One Big TakeawayFinancial well-being isn't simply about growing your money. It's about creating a relationship with money that supports the life and relationships you want to have.

For more tools and conversations about money mindset, practical financial tips, confidence, and financial empowerment…Subscribe to the “Money & You With Michelle Perkins” Podcast: 

When most people think about franchising, they picture buying a restaurant or retail location. But what if a franchise could be something much bigger—a strategic business investment, a career transition, or even another asset in your overall wealth-building plan?

In this episode of Money and You, Michelle talks with franchise consultant, multi-unit owner, and former franchise CEO Scott Jones, who brings more than 30 years of experience across virtually every side of the franchise industry.Scott offers a different way to think about franchising: instead of starting with What kind of business would I enjoy owning?, start by asking What do I want this business to do for my life and my financial future?Together, Michelle and Scott explore how to evaluate a franchise, why due diligence matters so much, what good franchise systems provide, how much capital you may actually need, and why your emotions around money can influence even the most sophisticated business decisions.They also discuss how franchising can move beyond simply owning one small business and become a strategy for building significant enterprise value.

In This Episode, You'll Learn

• Why Scott views franchising through the lens of return on investment and return on time
• The key differences between starting a business from scratch and buying a franchise
• Why there may be no such thing as a truly "absentee" franchise—especially in the beginning
• Why choosing a franchise based solely on an industry you're passionate about can lead you in the wrong direction
• How to define the goals and objectives your business actually needs to meet before looking at opportunities
• Why your existing leadership, sales, management, operations, or project-management skills may matter more than previous industry experience
• What strong franchisors look for in prospective franchise owners
• How fear and anxiety can change when you're investing your own money
• Why a larger initial investment doesn't necessarily mean a greater financial return
• Why falling in love with an opportunity is the beginning of the process, not the end
• Why Scott believes franchising can be viewed as a financial asset class
• How multi-unit ownership, territory expansion, multiple brands, and private equity can create opportunities to scale

A Different Way to Evaluate a FranchiseOne of Scott's most important recommendations is to resist beginning your search with the type of business you think you'd like to own.Instead, get clear about what you want the business to accomplish.What are your short-term goals? Your long-term financial goals? How involved do you want to be? What kind of lifestyle are you trying to create? What skills do you already have that could give you an advantage?Once those questions are answered, you have a much better framework for evaluating whether a particular opportunity actually fits.And when you find something that looks exciting, Scott's advice is simple:

Now prove it.

Research the company. Talk to existing franchisees. Understand the economics. Evaluate the leadership. Study the systems and support. Find out how long other owners took to open, reach breakeven, and achieve important financial milestones.The goal isn't simply to find an exciting opportunity. It's to determine whether the opportunity can realistically support the life and financial outcomes you're trying to create.

Money, Emotion, and Business Ownership
Michelle and Scott also discuss something that doesn't get enough attention in conversations about entrepreneurship:

 what happens emotionally when it's your own money on the line.
Someone may be perfectly comfortable overseeing multimillion- or even billion-dollar decisions inside a corporation, yet feel very differently when investing a much smaller amount of their personal capital.Scott's advice is to bring the same discipline to your own financial decisions that you would bring to a major decision for your employer.Slow down. Do the analysis. Understand your assumptions. Recognize your biases. And don't allow excitement—or fear—to substitute for due diligence.

About Scott JonesScott Jones is a franchise consultant, multi-unit franchise owner, former franchise executive, and longtime advisor with more than 30 years of experience in franchising.His experience spans the industry: franchisee, franchisor, supplier, consultant, and advisor. He has worked with first-time business owners, experienced executives, successful entrepreneurs, and institutional investors to evaluate franchise opportunities and determine how business ownership may fit into their broader goals.Scott helps prospective owners identify opportunities based not simply on the industry or concept that initially attracts them, but on their goals, skills, desired lifestyle, financial objectives, and potential return on both capital and time.

Resources & LinksConnect with Scott Jones:
Franchise Guide Group — franchiseguidegroup.com
Email: Scott at franchiseguidegroup.com
Scott can also be found on LinkedIn.Scott also created a special resource for Money and You

listeners that includes an assessment and white paper. [Add special landing-page URL here.]

Connect with Michelle:
Limit Free Life — limitfreelife.com
Email: [email protected]

And if you have a money or career question you've been avoiding, visit Limit Free Life to book a free 20-minute Virtual Coffee Chat with Michelle.One Big TakeawayFranchising doesn't have to be viewed simply as buying yourself a job or pursuing a business you're passionate about.It can be evaluated like any other significant financial decision: What am I investing? What am I getting in return? What risks am I taking? How does this fit my life? And does this opportunity give me the best chance of achieving the outcome I actually want?

For more tools and conversations about money mindset, practical financial tips, confidence, and financial empowerment…Subscribe to the “Money & You With Michelle Perkins” Podcast: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575

Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!Join the Limit Free Life® Community & Newsletter:

https://limitfreelife.com/newsletter/
Learn more about Michelle Perkins & Limit Free Life®:
https://limitfreelife.com
 Have a money or career question? Book a free virtual coffee chat with Michelle:
https://limitfreelife.com/booking/?utm_source=chatgpt.com
 Instagram: @livealimitfreelife
 YouTube: The Limit Free Life Channelhttps://www.youtube.com/@michelleperkins-limitfreel2446

Why financial knowledge isn't always enoughMany people already know what they "should" do with money, yet still struggle to save, invest, or build wealth. Michelle explains why subconscious programming often overrides conscious knowledge.

How your money beliefs are formedDiscover how experiences in early childhood create the neural pathways that influence:

• Self-worth
• Financial confidence
• Risk tolerance
• Spending habits
• Receiving money
• Asking for what you want

Understanding neuroplasticityMichelle explains how the brain can literally be rewired and why many limiting beliefs are not permanent—even if they've been running your entire life.

Why money mindset goes deeper than positive thinkingAffirmations and positive thinking can help, but they often don't address the deeper subconscious programming driving our financial behaviors.

Your relationship with money
The discussion explores a powerful question:

If money were a person, what kind of relationship would you have with it?
Many people unconsciously treat money with fear, avoidance, resentment, or even guilt—patterns that can affect financial outcomes in surprising ways.

Abundance begins with worthinessOne of the strongest themes throughout the conversation is that financial success is closely connected to our sense of worth.When we believe we're worthy of receiving, opportunities often become easier to recognize and act upon.

Key Takeaways

• Most core money beliefs are formed before age six.
• Your subconscious drives many financial decisions without your awareness.
• Financial avoidance is often rooted in fear—not laziness.
• You don't have to fully understand neuroscience to begin changing your patterns.
• Clarity about what you truly want is one of the most powerful catalysts for change.
• Inspired action becomes much easier once subconscious resistance is reduced.
• Financial freedom starts with awareness—not perfection.

Memorable Quotes"Most people are trying to change subconscious patterns with conscious thought.""Your beliefs organize your reality.""When you remove the old stories, money shows up as the energy of blessings.""There's no destination you have to reach before you're worthy."

Resources Mentioned

• Book: Wired for Money: Change the Patterns That Block You from Thriving
• Michelle Masters' workshops and online programs 
• Neuroscience and neuroplasticity
• Family Constellation work
• NLP (Neuro-Linguistic Programming)

About Michelle MastersMichelle Masters is an international instructor, coach, and speaker specializing in neuroscience-based transformation, Neuro-Linguistic Programming (NLP), Family Constellation work, and personal development. For nearly three decades she has helped clients identify and transform the subconscious beliefs that keep them from thriving in every area of life—including money, relationships, and self-worth. She is the author of Wired for Money, where she combines practical exercises with neuroscience to help readers permanently change limiting financial patterns. 

Connect with Michelle Masters

• Website: Wired for Magic - https://wiredformagic.com
• Book: Wired for Money: Change the Patterns That Block You from Thriving
• Online Program: Money Magic

Connect with Michelle PerkinsIf you enjoyed this episode, be sure to:

• Subscribe to Money & You on your favorite podcast platform.
• Watch full episodes on the Limit Free Life® YouTube Channel.
• Share this episode with someone who may be struggling with financial fear, self-worth, or limiting money beliefs.
• Leave a rating and review—it helps more people discover the show.

Listener ChallengeTake a few quiet moments this week and ask yourself:

• What did I learn about money growing up?
• What beliefs do I still carry today?
• Are those beliefs helping me—or holding me back?

Awareness is the first step toward creating a healthier relationship with money and building a more abundant future.


For more tools and conversations about money mindset, practical financial tips, confidence, and financial empowerment…

Subscribe to the “Money & You With Michelle Perkins” Podcast: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575

Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!

Join the Limit Free Life® Community & Newsletter:
https://limitfreelife.com/newsletter/

Learn more about Michelle Perkins & Limit Free Life®:
https://limitfreelife.com
 
Have a money or career question? 

Book a free virtual coffee chat with Michelle:
https://limitfreelife.com/booking/?utm_source=chatgpt.com
 
Instagram:
@livealimitfreelife

 YouTube: The Limit Free Life Channel
https://www.youtube.com/@michelleperkins-limitfreel2446

Money isn't just about spreadsheets, investment returns, or retirement projections. At its core, it's about creating a life that aligns with your deepest values.In this thoughtful conversation, Michelle Perkins sits down with Laura Rotter CFA,  CFP, owner of True Abundance Advisors and host of the Making Change with Your Money podcast, to explore the powerful connection between financial planning, life purpose, and personal fulfillment. With nearly three decades of experience managing institutional investments before transitioning to holistic financial planning, Laura shares how true financial well-being begins with understanding yourself—not just your portfolio. Whether you're approaching retirement, considering a career change, or simply wondering if your money is supporting the life you truly want, this episode offers a refreshing perspective on what financial success really means.

In This EpisodeWhy financial planning is really about your life—not your investmentsLaura explains why numbers alone never tell the whole story. Effective financial planning begins by understanding your goals, values, fears, and vision for the future.

The surprising power of clarityMany people feel financial stress simply because they don't have a clear picture of where their money is going. Gaining clarity often reduces anxiety before making any major financial changes.

Retirement isn't the finish lineInstead of viewing retirement as simply leaving work, Laura encourages listeners to think about:

• Purpose
• Meaning
• Contribution
• Freedom
• Creating a life they don't want to retire from

Asking the questions that matterLaura shares several thought-provoking questions she uses with clients, including:

• If money were no object, what would you change?
• If you had five years left to live, what would matter most?
• If today were your last day, who did you not become?

These questions often uncover dreams and priorities people haven't allowed themselves to consider.Financial freedom vs. retirementThe conversation explores why many people today are shifting away from the traditional idea of retirement and toward the concept of financial freedom—having the ability to choose how you spend your time.Identity shifts and career transitionsBoth Michelle and Laura discuss leaving successful corporate careers to build businesses that better aligned with their values, and the unexpected challenges that come with redefining success.
Key Takeaways

• Financial planning should support your life—not dictate it.
• Many financial decisions are driven by fear rather than facts.
• Clarity creates confidence.
• Retirement without purpose can leave people feeling unfulfilled.
• Financial freedom is about having choices.
• Building wealth is important, but building a meaningful life is equally valuable.
• Sometimes the most powerful thing a financial advisor can offer is simply the space to be heard.

Memorable Quotes"The numbers are the scaffolding. The story is what's most important.""Money is emotional. We're not trying to eliminate emotions—we're trying to understand them.""No one is on their deathbed wishing they'd completed more of their to-do list.""Financial freedom is about creating a life you genuinely want to live."
Topics Discussed

• Financial planning
• Retirement planning
• Career transitions
• Purpose after retirement
• Money mindset
• Financial coaching
• Values-based investing
• Life planning
• Entrepreneurship
• Financial independence
• Emotional relationship with money

About Laura RotterLaura Rotter is a CFA®, Certified Exit Planning Advisor (CEPA), financial planner, and founder of True Abundance Advisors, a fee-only fiduciary financial planning firm based in New York. After a successful career managing institutional investments for major financial firms, Laura shifted her focus toward helping individuals navigate financial transitions with greater clarity, confidence, and purpose.She is also the host of the Making Change with Your Money podcast, where she explores the intersection of money, personal growth, and meaningful living. 
Connect with Laura Rotter

• Website: True Abundance Advisors - trueabundanceadvisors.com
• Podcast: Making Change with Your Money - https://podcasts.apple.com/us/podcast/making-change-with-your-money/id1668418292

Connect with Michelle PerkinsIf you enjoyed this conversation:

• Subscribe to Money & You on your favorite podcast platform.
• Watch full episodes on the Limit Free Life® YouTube Channel.
• Share this episode with someone preparing for retirement, considering a career transition, or looking for a more meaningful relationship with money.
• Leave a rating and review—it helps others discover the show.

Listener ReflectionTake a few quiet moments this week to consider these questions:

• If financial security were guaranteed, how would I spend my time?
• Am I building a life that aligns with my values—or someone else's expectations?
• What does true abundance look like for me?

Sometimes the greatest financial investment you can make is gaining clarity about the life you're truly trying to create.

For more tools and conversations about money mindset, practical financial tips, confidence, and financial empowerment…Subscribe to the “Money & You With Michelle Perkins” Podcast: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575

Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!Join the Limit Free Life® Community & Newsletter:
https://limitfreelife.com/newsletter

Learn more about Michelle Perkins & Limit Free Life®:
https://limitfreelife.com

 Have a money or career question? Book a free virtual coffee chat with Michelle:
https://limitfreelife.com/booking/?utm_source=chatgpt.com
 
Instagram:
@livealimitfreelife
 YouTube: The Limit Free Life Channel
https://www.youtube.com/@michelleperkins-limitfreel2446

Ep. 232 When Good Investments Go Bad: The Lessons No One Talks AboutReal Estate Investing Lessons:

What I Wish I Had Known Before My Biggest Investment

Real estate investing is often portrayed as one of the best ways to build wealth—but what happens when a project doesn't go according to plan?In this honest and deeply personal solo episode, Michelle Perkins shares the story of a three-year real estate investment that ultimately resulted in a financial loss. More importantly, she reflects on the invaluable lessons she learned about investing, partnerships, decision-making, trust, and knowing when it's time to let go. Whether you're investing in real estate, starting a business, or making any significant financial decision, this episode offers practical wisdom about balancing financial logic with personal values—and recognizing that sometimes the greatest return comes from the lessons learned.

In This EpisodeWhy walking away isn't always failureMichelle shares why she ultimately decided to sell the property at a loss, despite the possibility that holding it longer could eventually have produced a profit.Sometimes preserving your peace of mind is worth more than maximizing every financial opportunity.

Financial decisions aren't always mathematicalWhile spreadsheets may suggest one answer, life circumstances, emotional energy, risk tolerance, and personal priorities all deserve a place in major financial decisions.

Trust the process—but verify the peopleOne of the biggest lessons from the project was learning that trust should never replace sound business practices.No matter how well you know someone:

• Get agreements in writing.
• Establish clear decision-making processes.
• Document budgets and changes.
• Treat every investment like a business.

Why partnerships require difficult conversationsSuccessful partnerships don't happen because everyone gets along.They happen because expectations, responsibilities, and conflict-resolution processes are discussed before problems arise.Listen to your intuitionThroughout the project, Michelle experienced moments when something didn't feel quite right—but chose to defer to others with more experience.Looking back, she recognizes that those instincts deserved more attention.Be actively involvedOne of the strongest lessons:Don't assume someone else is watching every detail.Whether it's a renovation, investment, or business venture:

• Ask questions.
• Visit the project.
• Stay informed.
• Understand what's happening yourself.

Key Takeaways

• Every investment carries uncertainty.
• There isn't always one "right" financial decision.
• Acceptance is an important part of investing.
• Good documentation protects everyone.
• Partnerships require communication—not assumptions.
• Your intuition deserves a seat at the table alongside financial analysis.
• Sometimes the greatest investment is the education you gain.

Memorable Quotes"Sometimes you simply have to accept the loss.""There isn't always a right or wrong decision—there's simply your decision.""Trust the process, but don't assume everyone will make the same decisions you would.""Responsibility is more important than simply staying positive."
Lessons for Real Estate InvestorsMichelle's biggest recommendations include:

• Treat every investment as a business.
• Create written agreements before work begins.
• Define how decisions will be made.
• Monitor budgets closely.
• Spend time at the project site.
• Ask lots of questions.
• Talk to multiple experts—not just one.
• Stay connected to your original investment goals.
• Remember that markets, timelines, and circumstances change.

Topics Discussed

• Real estate investing
• Property renovation
• Investment partnerships
• Risk management
• Decision-making
• Trust and accountability
• Money mindset
• Financial acceptance
• Entrepreneurial lessons
• Learning from financial setbacks

Resources MentionedMichelle references previous Money & You episodes featuring experienced real estate investors and encourages listeners interested in investing to explore those expert interviews for additional education and perspective: Episode 197 with Joel Miller, Episode 182 with Laura Pozarny, Episode 176 with Janine Mix, Episode 160 with Jennifer Beeston.She also invites listeners to schedule a complimentary Virtual Coffee Chat through the Limit Free Life website to discuss financial questions or major money decisions. 
Connect with Michelle PerkinsIf this episode resonated with you:

• Subscribe to Money & You on your favorite podcast platform.
• Watch full episodes on the Limit Free Life® YouTube Channel.
• Share this episode with someone considering a real estate investment or business partnership.
• Leave a rating and review—it helps more people discover the show.

Listener ReflectionBefore making your next major financial decision, ask yourself:

• Have I clearly defined my ultimate goal?
• Am I making this decision based on my values—or someone else's expectations?
• Have I asked enough questions?
• Have I balanced trust with appropriate business safeguards?
• If circumstances change, am I willing to adjust my plan without viewing it as failure?

Sometimes the most valuable return on an investment isn't measured in dollars—it's measured in wisdom, confidence, and the decisions you'll make differently the next time.
For more tools and conversations about money mindset, practical financial tips, confidence, and financial empowerment…

Subscribe to the “Money & You With Michelle Perkins” Podcast: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575

Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!

Join the Limit Free Life® Community & Newsletter:

https://limitfreelife.com/newsletter/

Learn more about Michelle Perkins & Limit Free Life®:
https://limitfreelife.com

 Have a money or career question? Book a free virtual coffee chat with Michelle:
https://limitfreelife.com/booking/?utm_source=chatgpt.com

 Instagram:
@livealimitfreelife

 YouTube: The Limit Free Life Channel
https://www.youtube.com/@michelleperkins-limitfreel2446