Net Worth Hacks

This week Ken discusses the Small Business PPP Loan, which Congress has activated in order to keep the economy afloat. A key element of PPP is the loan forgiveness attached to it. Ken is offering up his advice for those businesses who are navigating the requirements for loan forgiveness. Ken has a tool that will help you navigate these requirements. Tune in for key insights you need to know, and email [email protected] for this tool and further support for those struggling.

In a previous episode, Ken mentioned he had to go a month without pay amid the crisis. He shares his takeaways and insights from that experience. The first lesson being that this experience has validated his decision to control his net worth. Next, Ken realized money is worthless without food to buy, and that there is a grocery baseline expense. There’s only so much you can cut when it comes to food. Finally, it’s important to loop in the kids on the negative impacts of no money and encourage financial responsibility.

Ken removes the sugarcoat and talks about what this financial crisis means for your Net Worth. Those with a low or even negative Net Worth will struggle. High Net Worth I ndividuals will be beaten and battered but will persevere. Now is the time for you to do an internal review. What is the status? What can I do refocus my energy on building net worth. In this episode, Ken zeroes in on what he believes really matters.

With the Pandemic ongoing, the US Government has taken several measures to mitigate the financial crisis. One such provision in the recently passed CARES Act allows penalty free access to your retirement fund. Ken wades through this legislation for you, sharing what you need to know. He shares his knowledge in an easy-to-track Q&A format. Who qualifies and what accounts can you draw from? Ken answers this and more as we work to weather this storm together.

With 22 million people filing for Unemployment, this economic freeze shows no sign of thawing soon. Nearly every American is affected, including Ken who won’t take an income this month. In order to weather this storm, those affected must either increase their income, decrease their expenses or a combination of both. Ken’s daughter Grace guest stars as they review how they have tightened the belt amid the COVID crisis. Ken outlines some measures you can take that you may not have even considered.

Following the feedback of last week’s episode, Ken continues his discussion of Unemployment Benefits for those struggling during the pandemic. Ken takes the time to tackle your questions and hopefully offer some helpful information. Questions include: Why can’t I reach my unemployment office? What if I quit my job just before COVID? After I apply, what do I do? How long will this last? What if I transferred states? What if I work part-time? Is it taxable income?

With the continuing implementation of measures to slow the spread of COVID-19, the US economy has been rocked. Over 10 million Americans have applied for unemployment benefits since the outbreak - a historic number. In this time of fear and uncertainty, Ken wants to lend a helping hand by walking you through unemployment. How is it funded, who qualifies, how do you apply? If you’ve been laid off, you’re not alone. Now’s the time to take advantage of every resource available to you.

These are trying times we’re living in. As the COVID Pandemic spreads, many people have been laid off from work. Ken decided the best way to help those laid off is to share his knowledge and hacks about the COBRA Program. The COBRA Insurance Law offers up company insurance for a short period to people who have been laid off. Ken shares why COBRA is notoriously expensive and recent updates to the program. Ken also shares timing tricks that you can use to greatly leverage the program to your benefit.

We made it. One whole year of hacking your net worth. On this anniversary, Ken decides it’s time refocus – zeroing in on the people he wants to help the most. Are you one of them? Listen and find out. We are in the midst of an unprecedented financial crisis. Ken has weathered his share of crisis, both personal and external, and wants to share with you what he’s learned, and what can be done. Listen in as he discusses 3 key principles of crisis management.

Now that Ken has shared with us his plan for retirement, it’s time to take a look at how he accrues funds for life events. You notice in this sheet, the portfolio is balanced 60% stocks and 40% bonds. It’s less riskier then last week because these funds may be called into use much sooner. As always, your financial situation is unique to you and you may want to adjust this to suit your needs. Follow along as Ken explains his allocation using the provided Google Sheet: http://bit.ly/NWHLifeEvents

This podcast episode is merely the personal experiences and opinions of Ken Kaufman and not a guarantee of returns. Ken is not liable for any financial decisions you make as a result of this podcast. It is advised that you consult a certified financial adviser and be aware of the risk involved before entering the Stock Market.