Net Worth Hacks

It’s the 50th episode of the Net Worth Hacks Podcast and it’s a big one...Ken finally reveals what’s behind the curtain and shares with us his very own Retirement Investment Portfolio. Ken shares with us his overall investment plan and key decisions we make when investing. What balancing decisions should we make over the course of our lifetime? You definitely want to download the Google Sheet and follow along as Ken explains his asset allocation. To track along, click here: http://bit.ly/NWHPortfolio

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.

With “Tax Refund Season” just around the corner, Ken addresses what you should do with an unplanned influx of money. Whether it be a refund, bonus or inheritance, this blessing is something you don’t want to mishandle. Ken believes sitting on the money has great value in terms of creating perspective. Listen in as he explains what factors you should consider...and whose advice you should ignore.

Ken shares with us the first ever personal finance book he ever read. At 12-years old, the book was “The Richest Man in Babylon” by George Clason. Told in the setting of ancient Babylon, this book is an easy read and great for the whole family. Arkad, the Richest Man, shares with us the secrets to gathering wealth, many of the things Ken talks about every week! If you’re tired of the technical nitty gritty, this episode is a great introductory, easy listen.

Book -> https://www.amazon.com/Richest-Man-Babylon-George-Clason-ebook/dp/B07P9BG1WR/

Ken tackles the challenge of running a small business while growing your personal net worth. Small businesses blur the lines of investment of time and money to yield results. It’s important to understand your market rate, the amount of “sweat equity” and the cash you’re willing to put in. Ken addresses some foundational considerations you need to be aware of. He then goes on to answer a listener’s questions that inspired this episode.

Ken shares with us the secret to never missing a financial due date: Create a Financial Calendar. At the core of your financial plan, this calendar helps keep you on track, maintain your payments in a timely manner plus it keeps you aligned with your spouse and goals. You can do this either analog (paper) or digitally. Ken breaks down his recurring costs and how he tackles them. Listen in as Ken gives to you the tips and tools to develop and maintain this calendar.

We’ve reached the fifth and final episode in Ken’s Money & Marriage Series. The last component of building this metaphorical house is the labor – having the mental fortitude to act on this financial plan. Ken discusses the need to stick it out your plan and how the Fear of Missing Out can challenge this fortitude. Ken elaborates how envy, instant gratification and FOMO can challenge your plan and what mental processes you should lean into in order to be successful.

Now that we’ve discussed foundation and materials, its time to map out this metaphorical house using our blueprint. You marriage needs a common vision and goals or else where are you going? A financial plan is the key to success. Ken rattles off the numerous reasons why and addresses your fears. It’s easier to plan ahead rather than catch up; if you don’t have a plan, you’re just improvising. Finally, Ken outlines the components of your plan allowing you to get started.

Continuing the Marriage Series, Ken begins delving into alignment. Ken lays out 2 considerations when seeking alignment: take ownership as individuals and then align together. Ken explains how you can be your best self in service to your better half, and how together you can achieve your goals. Like tires on a car, you need to be of good quality individual tire and then align with your other half. Ken outlines how to improve alignment and what pitfalls you need to avoid. Last episode focused on literacy, this episode focuses on working in conjunction with your better half.

Continuing on from the last episode, Ken addresses the concept of Financial Literacy. The lack of literacy acts as an obstacle to financial-marital success; with literacy, you have the essential building materials for financial success. Ken offers some great insight on learning to live within your means and learning to save; Budgeting and how essential it is for your marriage. Debt and credit cards and “playing the game,” plus so much more. Finally, get Ken’s reading list that act as a great resource for attaining financial literacy. This episode is jam packed with valuable insights, be sure to tune in.

It’s the start of of the New Year; you and your spouse may have resolved to grow your net worth and find financial success for 2020 and beyond. Ken, along with his son and researcher Daniel, provide an overview of 4 key obstacles that the two of you may face when it comes to financial success and marriage. These challenges are: Lack of Financial Literacy, Lack of Alignment, Lack of a Comprehensive Plan, Lack of Commitment & Emotional Fortitude.