SMPL Money

SMPL Money

By SMPL TeamBusinessInvestingManagement
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SMPL Money episodes

  • Mortgages: Part 1

    Hosts: John and David Thompson

    Episode Summary:

    In this episode of SMPL Money, John and David discuss the first three reasons from Ric Edelman's article, "11 Great Reasons to Carry a Big Long Mortgage." They provide insights from their generational perspectives on why carrying a mortgage can be beneficial, challenging conventional wisdom that encourages paying off mortgages quickly.

    What You'll Learn:

    • Reason 1: Your mortgage doesn't affect the value of your home. The appreciation of your home is determined by the market, not by the presence or size of a mortgage.
  • Reason 2: A mortgage doesn't prevent you from building equity in your home. Equity is primarily built through home appreciation and paying down the mortgage with your own funds.
  • Reason 3: A mortgage is cheap money. Mortgages typically have low interest rates, especially fixed-rate mortgages, which can be advantageous in the long term due to inflation and increasing earning potential.

    • Timestamps:

    • [00:00] Introduction to the episode and hosts
  • [01:00] Overview of Ric Edelman’s article and its relevance
  • [02:00] Discussion on why people generally avoid mortgages
  • [03:00] Reason 1: Your mortgage doesn't affect the value of your home
  • [04:00] How home appreciation works independent of the mortgage
  • [05:00] Reason 2: A mortgage doesn't stop you from building equity
  • [07:00] The concept of equity and its relationship with home value
  • [08:00] Reason 3: A mortgage is cheap money
  • [10:00] The benefits of long-term fixed-rate mortgages
  • [12:00] The concept of liability asset gap and financial arbitrage
  • [14:00] Importance of understanding opportunity cost in financial decisions
  • [16:00] Wrap-up and preview of the next episode

    • Resources Mentioned:

    • 11 Great Reasons to Carry a Big Long Mortgage by Ric Edelman
  • Books by Ric Edelman: "The Truth About Money", "Ordinary People, Extraordinary Wealth"

    • Connect with Us:

    Reach out to John and David with your questions or feedback. SMPL Mortgage

    Follow us on social media for updates and more insights. @smplmortgage

    If you enjoyed this episode, please like, share, and subscribe to SMPL Money for more insightful discussions. Stay tuned for our next episode where we continue to unravel the complexities of finance in our lives.

    17 hr 24 min
  • Goal Setting and Discipline

    Hosts: John and David Thompson

    Episode Summary:

    In this episode of SMPL Money, John and David discuss the importance of goal setting and discipline from their generational perspectives. They explore why goal setting is crucial for personal and professional success, the common challenges people face when setting goals, and practical tips for maintaining discipline to achieve those goals.

    What You'll Learn:

    • The concept and importance of goal setting
  • Different perspectives on goal setting across generations
  • Common reasons why people fail to achieve their goals
  • The role of discipline and habits in achieving goals
  • Practical tools and techniques for effective goal setting
  • The concept of time blocking and its benefits
  • Insights from notable books on goal setting and discipline

    • Timestamps:

    • [00:00] Introduction to the episode and hosts
  • [01:00] Initial thoughts on goal setting from John and David
  • [02:00] Generational differences in goal setting
  • [03:00] The fear of setting and failing at goals
  • [05:00] The definition and importance of discipline
  • [07:00] The role of habits in maintaining discipline
  • [08:00] Strategies for realigning with your goals
  • [09:00] The 90-day priority setting method
  • [11:00] Tools and techniques for daily and weekly goal tracking
  • [12:00] Overcoming resistance to time blocking
  • [15:00] The concept of "white time" and its importance
  • [16:00] Final thoughts and a quote on goal setting

    • Resources Mentioned:

    • Traction by Gino Wickman
  • The Rockefeller Habits by Verne Harnish
  • The Compound Effect by Darren Hardy

    • Connect with Us:

    Reach out to John and David with your questions or feedback. SMPL Mortgage

    Follow us on social media for updates and more insights. @smplmortgage

    If you enjoyed this episode, please like, share, and subscribe to SMPL Money for more insightful discussions. Stay tuned for our next episode where we continue to unravel the complexities of finance in our lives.

    17 min
  • Money: Past, Present, & Future

    Hosts: John and David Thompson

    Hosts: John and David Thompson

    Episode Summary:

    In this episode of SMPL Money, John and David explore the evolution of money from its origins in bartering to modern-day digital currencies like Bitcoin. They discuss the fundamental properties of money, their personal experiences with money growing up, and speculate on the future of money and financial transactions.

    What You'll Learn:

    • The essential functions of money: store of value, unit of account, and medium of exchange.
  • John and David's personal histories with money, from physical cash to digital transactions.
  • The potential future of money, including cryptocurrency and digital banking.
  • The impact of technology on financial transactions and the possibility of a return to barter-like systems through digital means.
  • Insights into the rise of digital wallets and online banking, and the potential for blockchain technology to revolutionize financial data security.

    • Timestamps:

    • [00:00] Introduction to the episode and hosts
  • [01:00] What is money? Fundamental properties explained
  • [02:00] John’s relationship with money growing up
  • [03:00] David’s early experiences with money and transitioning to digital transactions
  • [05:00] The evolution of financial transactions: from cash to checks to digital
  • [07:00] Future of money: cryptocurrency, blockchain, and digital wallets
  • [10:00] The impact of inflation on money and potential alternative transaction methods
  • [12:00] Skepticism and adoption of new financial technologies
  • [14:00] Modern money features and the importance of digital security
  • [16:00] The role of open banking and blockchain in future financial systems
  • [18:00] Introduction to Savology: a financial planning tool

    • Resources Mentioned:

    • Savology

    Connect with Us:

    Reach out to John and David with your questions or feedback. SMPL Mortgage

    Follow us on social media for updates and more insights. @smplmortgage

    If you enjoyed this episode, please like, share, and subscribe to SMPL Money for more insightful discussions. Stay tuned for our next episode where we continue to unravel the complexities of finance in our lives.

    20 min
  • What is Financial Health?

    Hosts: John and David Thompson

    Episode Summary:

    In this episode of SMPL Money, John and David explore the concept of financial health and how it differs across generations. They discuss the importance of having an emergency fund, understanding personal cash flow, and setting financial goals. They also share practical tips and tools to help listeners achieve financial well-being.

    What You'll Learn:

    • The definition of financial health from different perspectives.
    • The importance of having an emergency fund and how much you might need.
    • Setting financial goals and the impact on financial health.
    • The significance of understanding your personal cash flow.
    • Awareness and habits that contribute to financial health.
    • The role of education and seeking advice in maintaining financial health.
    • Introduction to the Savology tool for financial planning.

      • Timestamps:

      • [00:00] Introduction to the episode and hosts
      • [01:00] David’s perspective on financial health
      • [02:00] The importance of an emergency fund
      • [03:00] John’s insights on financial health and reducing stress
      • [04:00] Setting financial goals and habits
      • [05:00] Understanding and managing personal cash flow
      • [07:00] The role of awareness in financial habits
      • [08:00] Recognizing financial triggers and influences
      • [09:00] Sources of financial information and education
      • [11:00] Seeking advice and different perspectives on finance
      • [12:00] Managing risks and being prepared for financial setbacks
      • [13:00] Introduction to Savology and its benefits
      • [13:30] The Four Steps to Financial Freedom
      • [14:00] Conclusion and final thoughts

        • Resources Mentioned:

        • Savology

          • Connect with Us:

          Reach out to John and David with your questions or feedback. SMPL Mortgage

          Follow us on social media for updates and more insights. @smplmortgage

          If you enjoyed this episode, please like, share, and subscribe to SMPL Money for more insightful discussions. Stay tuned for our next episode where we continue to unravel the complexities of finance in our lives.

          15 min
        • Generational Perspective on Investing

          Hosts: John and David Thompson

          Episode Summary:

          In this episode of SMPL Money, John and David discuss the essentials of investing, focusing on stocks and the equities market. John shares his extensive experience, while David brings a fresh perspective on how younger generations approach investing. They delve into the accessibility of investment tools today, the concept of dollar-cost averaging, and the importance of long-term investment strategies.

          What You'll Learn:

          • The evolution of investing and how accessibility has changed over generations.
        • The concept of dollar-cost averaging and its benefits.
        • Long-term investment strategies and the importance of consistency.
        • The roles and benefits of financial advisors.
        • Key investment principles: safety, liquidity, and return.
        • The importance of starting early and being disciplined in investment habits.
        • Recommended reading: "The Richest Man in Babylon" by George S. Clason.

          • Timestamps:

          • [00:00] Introduction to the episode and hosts
        • [01:00] Early experiences and understanding of investing
        • [02:00] The impact of accessibility and technology on investing
        • [03:00] Common misconceptions about younger investors
        • [04:00] Explanation of dollar-cost averaging
        • [06:00] Long-term investment perspectives and goals
        • [07:00] The role of financial advisors and their impact on investment performance
        • [09:00] Key investment principles: safety, liquidity, and return
        • [11:00] Lessons learned from John about investing
        • [12:00] Recommended reading: "The Richest Man in Babylon"
        • [13:00] Managing and checking your investments: How often is enough?
        • [15:00] Final thoughts and advice for investors

          • Resources Mentioned:

          • "The Richest Man in Babylon" by George S. Clason (Amazon Link) 

          Connect with Us:

          Reach out to John and David with your questions or feedback. SMPL Mortgage

          Follow us on social media for updates and more insights. @smplmortgage

          If you enjoyed this episode, please like, share, and subscribe to SMPL Money for more insightful discussions. Stay tuned for our next episode where we continue to unravel the complexities of finance in our lives.

          17 min
        • Generational Perspective On Retirement

          Hosts: John and David Thompson

          Episode Summary:

          In this episode of SMPL Money, John and David delve into the concept of retirement, exploring it from their generational perspectives. John brings insights from his extensive career in finance, while David offers a fresh viewpoint from the early stages of his career. They discuss the meaning of retirement, the impact of economic downturns, and strategies for preparing for this significant life transition.

          What You'll Learn:

          • John and David’s personal definitions of retirement and what it means to them.
        • Reflections on the 2008 financial crisis and its impact on perceptions of retirement.
        • The importance of planning and discipline in preparing for retirement.
        • Insights into investment strategies, including the concept of dollar-cost averaging.
        • Discussion on semi-retirement and alternative retirement lifestyles.
        • Advice for both younger and older individuals on starting early and making the most of their financial situation.

          • Timestamps:

          • [00:00] Introduction to the episode and hosts
        • [01:00] First experiences and understanding of retirement
        • [02:00] The 2008 financial crisis and its impact
        • [03:00] Definitions and different perspectives on retirement
        • [05:00] Investment strategies and the concept of dollar-cost averaging
        • [07:00] The idea of semi-retirement and alternative retirement lifestyles
        • [09:00] Final thoughts and advice for planning retirement

          • Connect with Us:

          Reach out to John and David with your questions or feedback. SMPL Mortgage

          Follow us on social media for updates and more insights. @smplmortgage

          If you enjoyed this episode, please like, share, and subscribe to SMPL Money for more insightful discussions. Stay tuned for our next episode where we continue to unravel the complexities of finance in our lives.

          12 min
        • What is Money?

          Hosts: John and David Thompson

          Episode Summary:

          In this inaugural episode of SMPL Money, John, a seasoned finance professional with over three decades in the mortgage industry, and his son David, who brings a fresh, younger perspective from his recent entry into the field, explore the multifaceted concept of money. They delve into how different generations understand and interact with money, influenced by varied upbringing and societal changes.

          What You’ll Learn:

          • How John’s journey in finance and lessons from his parents shaped his understanding of money.
        • David’s insights on how education and generational perspectives influence financial attitudes.
        • The fundamental question: What is money? Exploring its essence beyond the physical to include effort, time, and discipline.
        • Perspectives on real estate as an investment and its role in building wealth, contrasted by the challenges it presents.
        • Anecdotes from both hosts about learning from successes and failures in their financial paths.

          • Timestamps:

          [00:00] Introduction to the show and hosts
          [01:00] John’s introduction and the goal of the podcast
          [02:00] David’s background and his take on money and education
          [03:00] Deep dive into what money really means
          [05:00] Discussion on the discipline required in managing money
          [07:00] Exploring real estate as a cornerstone of financial strategy
          [09:00] Real-world examples and advice on real estate investment
          [11:00] Concluding thoughts and what to expect in future episodes

          Connect with Us:

          Reach out to John and David with your questions or feedback. SMPL Mortgage

          Follow us on social media for updates and more insights. @smplmortgage

          If you enjoyed this episode, please like, share, and subscribe to SMPL Money for more insightful discussions. Stay tuned for our next episode where we continue to unravel the complexities of finance in our lives.

          14 min

        About SMPL Money

        From the publisher's feed

        Join John and David Thompson as they bridge the generational gap in finance. With John’s decades of experience and David’s fresh insights from his first five years in the industry, ”SMPL Money” delves…