The Michael Wall Show

The Michael Wall Show

By The Michael Wall ShowBusiness
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The Michael Wall Show episodes

  • 101: Bringing an end to violence in our inner cities - Ricky Aiken & Earl Buchanan of Inner City Innovators
    • 04:12 - Motivation - Increasing Your Influence
    • 13:53 - Moms and Money
    • 27:54 - Deleveraging Risk through Bonds
    • 40:44 - Guests Ricky Aiken & Earl Buchanan of Inner City Innovators

    Motivation

    Great thoughts and great ideas are important in life, but success comes when you take action. 

    Your success starts with making your bed. When you learn to make your bed, you discipline yourself to do what needs to be done every single day, regardless of how you feel or what you want to do. 

    When you're intentional about doing what needs to be done with excellence, you propel yourself towards success. 

    Moms and Money

    Woman have an incredibly great role in growing family wealth. More often today than ever before, women are handling the finances for a family and now the burden of learning the world of finance is falling on their shoulders.

    Get a Free Copy of Michael Wall's best selling book: Retire Once Retire Well at MichaelDWall.com

     

    54 min
  • 100: Delayed Gratification - Preparing Portfolio for Retirement - Minimize Taxes in Retirement
    • 01:54 - The Power of Delayed Gratification
    • 12:48 - Preparing Your Portfolio for Retirement
    • 25:14 - Minimizing Your Tax Burden in Retirement
    • 43:05 - Interview with Sophia Stone - Founder of Halotopia Jewelry

    Motivational Segment - Delayed Gratification

    You’ve likely noticed there are a large number of kids today who can’t handle the idea of waiting for whatever it is they  

    If you’re serious about building a lasting business to a very high level, you must subscribe to this idea of delayed gratification. Without it, your hard work will bring small instant rewards but not something that will begin to grow exponentially.

    In case you didn’t know, delayed gratification is the intentional act of forgoing current pleasure for the sake of a future reward.

    Delayed gratification basically comes down to the power of self-discipline. It’s no different than the struggle we have around eating the right foods or not eating late at night right before we go to bet. Sometimes you have to say ‘No’ to an immediate reward (like a late night snack) in favor of a much better reward further down the road.

    Using Motivation to Increase Your Efficiency

    Utilizing delayed gratification to increase your long-term results is a powerful tool, but you can increase that power exponentially when stack increased efficiency on top of your delayed reward.  Let me explain…

    If someone came to you and said: “Hey, I’ve got an all expense paid First Class trip to Tahiti and I’d love for you to go, but you have to leave tomorrow.” You’d suddenly have a tremendous amount of motivation to complete the work you had to do this week, in a much shorter amount of time.

    The best way to make sure you get everything done before your trip to Tahiti is to take a few minutes and write everything down. Give yourself the time and mental space to do a complete brain dump of everything you need to have done before you leave.

    Here’s the Hidden Secret to Efficiency

    Most people have a very hard time accepting the reality I’m about to share with you, but I promise you it’s held true for everyone who tries it. The more vacation you take, the more efficient you become. It’s hidden because it doesn’t make sense to people. How in the world can I go on more vacations and make more money? It’s because vacation allows you to experience mental and physical downtime which recharges you so you’re more efficient when you get back to work. The increase in efficiency far outweighs the lost time to vacation.

    Preparing Your Portfolio for Retirement

    Questions about your investments as you move into retirement

    There are things that work against you when you retire that worked for you before retirement. One of the big concepts that fall into this area is something called dollar cost averaging.

    Dollar cost averaging is when you commit to putting money into your investment every single month. Doing this, you average out the ups and downs of the market.

    When you retire, you’ll most likely stop adding money to your portfolio. In fact, in retirement, you’ll be taking money out of your portfolio every month and you risk doing the opposite of dollar cost averaging which can be a huge downdraft on your portfolio.

    There is a completely different structure for your portfolio when you go from your income producing years to your retirement years. You need to know what changes are needed to protect your assets so they last through your retirement years.

    Make sure you have this conversation with your advisor so you can strategically reduce the taxes on your wealth over time. You have to make sure you’re moving your money into safe harbors which will protect your wealth in retirement.

    It important you don’t fall for those who are making claims about the market they can’t substantiate.

    The truth is, the only thing we know about the market is that it’s going to do one of three things today. It’s going to go up, it’s going to go down, or it’s going to go sideways. Anyone who claims to know which one of those three things is going to happen is likely a financial salesman.

    Over the past 9 years, we’ve enjoyed an incredible bull run (upmarket) but that doesn’t mean we know what the market is going to do tomorrow. You do need to keep in mind, this is one of the longest bull runs in history.

    Watch the video above and make sure you’re prepared to identify “financial salesman” when they approach you.

    Minimizing Your Tax Burden in Retirement

    US Debt Clock - USDebtClock.org

    Our national debt goes up by almost $100,000 every 3 seconds.

    There are 327 million people in the United States. 166 million are currently receiving government benefits. That’s almost half of the people in the United States who are drawing on the resources of the Federal Government.

    As you can imagine, with almost half of the population drawing on the financial resources of our heavily indebted government, we’re sitting in a very precarious place.

    Our government officials know there is a huge portion of the available money sitting inside of retirement accounts, typically in tax-deferred investments. Some have claimed this is the reason we’re seeing city, state, and federal governments clamping down on these safe havens. They know the money is needed to fund the burden on our government budgets.

    This is exactly why it’s vital you consult a professional financial advisor who can help you navigate these constantly changing tax laws.

    One of the things we make sure we look at with our clients at Wall Private Wealth is their non-qualified money. That would be our non-taxed assets. It’s important this is positioned to increase tax-free income.

    Options for Clients who Have Sold a Business

    Conservation easements are the type of investment we look at for people who have sold a business and need to find investments which reduce taxes. It’s important to note, conservation easements are typically reserved for “Accredited Investors” (people with over $1,000,000 in investable assets).

    These easements can sometimes give us 2, 3, or even 4 times the amount in tax deductions. That means for every dollar we put in, we can get back $2, 3, or even $4 worth of tax deductions.  That’s a very important investment to have when you’re looking at reducing your tax liability.

    50 min
  • 99: Have a Big Vision - John Avant: Life Action Ministry - Media Pushing Fear - Daniel Kahan: Architect
    • 01:38 - How to Have a Big Vision
    • 10:55 - John Avant: President of Life Action
    • 24:15 - Handling the Fear Media is Selling
    • 34:37 - Daniel Kahan: Architect

    Motivational Segment - How to Have a Big Vision

    What happens to you when you see someone very successful? What is your perspective on their success and how they achieved it?

    One of the challenges we have in life is to change our thinking about ourselves and what is in store for us. When we understand the meaning behind Jer 29:11, we see God has a bigger vision for us then we even have for ourselves.

    Challenge yourself to see your future the same way God envisions it for you.

    When your vision grows, your ideas and creativity will start to grow as well. So, if you’re at a roadblock in the creative process in business or life, ask yourself what your vision is for your future. Do you see a bright future or one that is just more of the same?

    Remember, when you grow your vision, you increase your creativity and what you have to offer the world around you. Your vision for your life will have an impact on the world around you.

    Interview: John Avant - President of Life Action

    Dr. John Avant has a deep love and compassion for people and believes that the only hope for our nation is to experience a mighty movement of God. John has pastored churches in Texas, Tennessee, Georgia, and Louisiana. He was also the Vice President of Evangelism and Spiritual Awakening at the North American Mission Board. John and his wife, Donna, fell in love on the campus of Baylor University and married in 1980. They have three adult children and three grandchildren.

    Interview: Daniel Kahan - Architect at Smith & Moore

    Daniel Kahan received a Bachelor of Architecture degree from the Georgia Institute of Technology in 1998 and a Master of Architecture degree from the University of Florida in 2004. He was raised in Augusta, Georgia and grew up studying the traditional architecture of the south. He was also exposed to and informed by the modernist residential architecture practiced by his uncle in Mexico City. Before becoming a principal partner with Smith and Moore Architects he apprenticed with the firm while studying architecture collegiately. He has prided himself in the synthesis of classical order and form with modernist simplicity. He draws inspiration from a commitment to artistic integrity, a passion for detail, the use of fine materials,

    54 min
  • 98: Responsibility for Success - Baby Boomer's Retiring - Altoona, PA Mayor Matt Pacifico - Chicago
    • 02:23 - Take Responsibility for Your Success
    • 10:00 - Finances: Boomers Withdrawing Money From The Market
    • 28:18 - Interview: Mayor Matt Pacifico - Altoona, PA
    • 41:37 - Interview: Chicago (the band) at The House of Blues

    Get your free copy of Michael Wall's best selling book "Retire Once - Retire Well" at MichaelWallShow.com

     

    Motivation - Taking Responsibility for Your Success?

    What does success mean to you?  It seems a lot of younger people are focused on money or income as their definition of success.  As we get older we begin to look more at our impact or the legacy we leave for our family.

    Who is Responsible for Your Success?

    There is a wave of sentiment in our society that others have control over our situation. Some will blame bad parenting, while others will claim they’re held back by the people in power in our government. The truth is, the only person who is responsible for your success is you. Events will happen which may be hurdles but it’s up to you to see those and overcome them. It’s up to you.

    The Three Most Important Elements to Your Success

    1. Write down your steps to success.
    2. Lay out the actions you can take to accomplish each step.
    3. Take full responsibility for your success.

    Each one of these items is dependent on you alone. You lay out the steps, you determine and take the action and ultimately, you must be responsible for your progress towards success. Don’t fall into the trap of blaming others.

    You Control Your Reaction

    There are times in your life when others will do something which takes control of you. Think about the last time you were cut off in traffic. That person may not even know you were there and they’ve now driven off completely oblivious to what happened. Their day is going to be fine. In fact, they may have their best day ever. But that situation will set you off and change your attitude for the rest of the day.

    It’s up to you to determine your reaction to everything that happens in life. You can’t control what others do but you can control your reaction to it all. That is what will keep you on your path to success.

    Good Better Best

    Every day you’ll be presented with opportunities to focus on an assortment of situations. It’s up to you to put your attention and effort into the areas that are the best.  It’s easy to get distracted by the GOOD things and you may even become aware of that and decide to focus on something you know is BETTER. But, massive growth and progress happen when we’re intentional about focusing on the areas and actions we know are the BEST.

    Baby Boomers Are Withdrawing Money from the Market

    Every day there are about 10,000 Baby Boomers retiring and beginning to withdraw their investments from the financial markets.

    RMD’s - Required Minimum Distributions kick in at 70 ½ years old and force Baby Boomers to withdrawal money from their retirement accounts. This is the opposite of what we saw happening in the 80’s as Baby Boomers were beginning to put money into their 401k retirement accounts. This mass influx of money into the market during that time helped the market grow.

    Now, with the Baby Boomers being forced to pull money out of the market, many are wondering what will happen to the market. Afterall, it’s easy to make money when the market is growing, demand is high, and values are going up.  But now, with money coming out, there’s worry of a decreased demand, and decreased values.

    The big question you need to ask is whether you’re invested in a way that prepares you for a market that’s dropping. If you have a large portion of your portfolio in bonds, you may want to take a closer look at those. Remember, bonds move in the opposite of interest rates.

    Interview with Altoona, PA Mayor Matt Pacifico

    Interview with Multi-Platinum Award winning artists Chicago

     

    54 min
  • 97: Life Purpose - Protecting Investments - Being Your Own Bank - Tax Changes - Mike Woulfe
    • 02:53 - The Fountain of Youth
    • 10:00 - Protect and Grow Wealth
    • 23:45 - Being Your Own Bank
    • 35:35 - Taxes and What You Need to Change
    • 41:37 - Mike Woulfe - Head of Sales for De’Longhi Group

    The Fountain of Youth

    I recently visited the Fountain of Youth in St. Augustine, FL and as I was there I was struck by the reality that most of us want to live longer. We would love to have eternal youth and never have to think about the end of our lives.  But then I realized something odd about this idea…

    Too often we don’t take the time to figure out what we are meant to do today. We’ve not taken any time to discover our purpose.  Why are we hoping for more tomorrows if we haven’t figured out what to do with today?

    Take some time today and really focus on what your purpose might be in this life. You’re not here out of happenstance, you’re here by design and with a true purpose.

    Jer. 29:11 - “For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future.”

    How To Help End Sex Trafficking

    Every 30 seconds a child somewhere in the world is taken from their family for the sex industry, organ harvesting, or labor.  

    As you’re working on your life to live with purpose, realize there is something you can do to help end this child abduction and sex trafficking issue.  

    Watch this video and discover what you can do to help end this major global issue:

    OURFilm.org

     

    How Do You Protect and Grow Wealth in Any Economy

    Forget about the idea of “timing the market.” You should certainly keep your eyes open for new opportunity, but don’t make that your mission.

     

    Think of your investment strategy like you do your house. You must have a sturdy foundation or nothing will be stable. Then you have your walls, some of which are “load bearing” and should be a little more sturdy than other walls.  Then there is the rest of stuff you put in your house which aren’t critical to the security of your home.

    The three tiers of investments are

    • Foundation - Very low risk
    • Walls - Moderate amount of risk
    • Roof - Reduced control of risk

    Being Your Own Bank

     

    The fact that various industries have their own language can make understanding them much more complicated.

    “Complexity is the enemy of execution.”

    When you get to the place in life where you want to take income from your portfolio to support your lifestyle, you may want to consider being your own bank.

    Utilizing an insurance contract and moving money (from investments or your bank account) into those contracts which are correctly designed for growth. Then when you need to take money out you can do that tax-free.

    If you’re worried about putting your money into a system which doesn’t have FDIC insurance like your bank does, keep in mind, FDIC insurance isn’t as robust as you might think.  In fact, a lot of the other entities in which you can put your money afford you a lot more protection for your portfolio.

    A lot of the places or contracts you can use for this purpose are insurance products. Keep in mind, the biggest names are not always the best fit for you. It’s important to shop for exactly what you need.

     

    Taxes and What We Need to Change

    The upcoming midterm elections could cause some market volatility due to potential changes in our tax laws. It’s important you take time to look at how your investments are structured for your current tax situations but also for future taxes.

    Now is the time to have someone review your portfolio to make sure you’re maximizing your tax advantages based on the new laws as well as being prepared in the event those laws change after the midterm elections.

     

    Mike Woulfe - Head of Sales for De’Longhi Group

    Retail business has obviously changed dramatically in the past 10 years. With the coming generation, we’re going to be selling to consumers who have never experienced life without digital purchases. Changes are going to change even more dramatically soon. You need to be prepared.

    Pricing and quality transparency are completely different today. There are no market variables with pricing because consumers can see exactly what each store in other regions are charging. 80% of consumers trust reviews and put them on par with recommendations from friends.

    54 min
  • 97: Purpose - Protect Investments - Banks - Taxes - Mike Wolf
    02:53 - The Fountain of Youth 10:00 - Protect and Grow Wealth 23:45 - Being Your Own Bank 35:35 - Taxes and What You Need to Change 41:37 - Mike Wolf - Head of Sales for De’Longhi Group The Fountain of Youth I recently visited the Fountain of Youth in St. Augustine, FL and as I was there I was struck by the reality that most of us want to live longer. We would love to have eternal youth and never have to think about the end of our lives.  But then I realized something odd about this idea… Too often we don’t take the time to figure out what we are meant to do today. We’ve not taken any time to discover our purpose.  Why are we hoping for more tomorrows if we haven’t figured out what to do with today? Take some time today and really focus on what your purpose might be in this life. You’re not here out of happenstance, you’re here by design and with a true purpose. Jer. 29:11 - “For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future.” How To Help End Sex Trafficking Every 30 seconds a child somewhere in the world is taken from their family for the sex industry, organ harvesting, or labor.   As you’re working on your life to live with purpose, realize there is something you can do to help end this child abduction and sex trafficking issue.   Watch this video and discover what you can do to help end this major global issue: OURFilm.org   How Do You Protect and Grow Wealth in Any Economy Forget about the idea of “timing the market.” You should certainly keep your eyes open for new opportunity, but don’t make that your mission.   Think of your investment strategy like you do your house. You must have a sturdy foundation or nothing will be stable. Then you have your walls, some of which are “load bearing” and should be a little more sturdy than other walls.  Then there is the rest of stuff you put in your house which aren’t critical to the security of your home. The three tiers of investments are Foundation - Very low risk Walls - Moderate amount of risk Roof - Reduced control of risk Being Your Own Bank   The fact that various industries have their own language can make understanding them much more complicated. “Complexity is the enemy of execution.” When you get to the place in life where you want to take income from your portfolio to support your lifestyle, you may want to consider being your own bank. Utilizing an insurance contract and moving money (from investments or your bank account) into those contracts which are correctly designed for growth. Then when you need to take money out you can do that tax-free. If you’re worried about putting your money into a system which doesn’t have FDIC insurance like your bank does, keep in mind, FDIC insurance isn’t as robust as you might think.  In fact, a lot of the other entities in which you can put your money afford you a lot more protection for your portfolio. A lot of the places or contracts you can use for this purpose are insurance products. Keep in mind, the biggest names are not always the best fit for you. It’s important to shop for exactly what you need.   Taxes and What We Need to Change The upcoming midterm elections could cause some market volatility due to potential changes in our tax laws. It’s important you take time to look at how your investments are structured for your current tax situations but also for future taxes. Now is the time to have someone review your portfolio to make sure you’re maximizing your tax advantages based on the new laws as well as being prepared in the event those laws change after the midterm elections.   Mike Wolf - Head of Sales for De’Longhi Group Retail business has obviously changed dramatically in the past 10 years. With the coming generation, we’re going to be selling to consumers who have never experienced life without digital purchases....
    54 min
  • 96: The Great Wealth Transfer - Coming Market Changes - Good and Bad of Annuities

    Get your free copy of my best-selling book Retire Once Retire Well (just pay shipping and handling) at:

    http://MichaelWallShow.com/freebook

    Handling The Negative Junk in Life

    How to react to the bricks that will get thrown at you as you grow your business and your brand.

    If you spend time reading or listening to the negatives that are thrown at you, you'll struggle to break through to the next level.

    Take the negativity and the bricks which are thrown at you to build your foundation higher than it's ever been.

    Advanced Tax Planning

    30 Trillion Dollars will be transferring down from Baby Boomers to their heirs. 

    This is going to be a huge windfall for the Federal government because most people haven't taken the actions they need to take in order to protect these assets as they transfer to their family members. 

    Learn how to "dis-inherit" the IRS. There are actions you can take to make sure the IRS isn't a major heir to your estate.

    The Potential Market Changes Coming

    We've seen several months of a negative trend in our market. The question is whether that's it and now it's going to move back up as we move forward.

    The tax bill and tariffs have already passed and we've seen the upward momentum from the tax bill.

    The average "Bear Market" lasts about 8 months. A lot of experts are predicting we're going toward a downtrend in the near future. 

    There are options for you to invest where they won't be negatively impacted by the market. Ask your investment advisor for some direction in this.

    Retire Well Video Series

    http://LeanOnTheWall.com

    Get access to the complete Retire Well Video Series right now and learn the basics of investing for retirement. 

    Annuities - The Good, the Bad, and the Undiscovered

    There have been a lot of changes in the annuities market which have improved things for investors.  But you need to know what your goals are for your investments. 

    There are a variety of annuities and some are good for different situations. Some are very expensive investments, so you have to make sure you're looking out for "Financial Salesmen" who are motivated to move you into those annuities because they make a nice profit from them up front. 

    54 min
  • 95: Increasing Your Efficiency, What's a Fiduciary, Advice to Your Younger Self

    03:41 - Being Efficient in Life
    09:50 - Sex trafficking
    15:21 - Fiduciary Role
    40:20 - What type of Advice you would give to yourself?
    43:34 - Hear from Sammy Hagar (The Red Rocker)

    How to Become More Efficient in Life

    “Complexity is the enemy of execution.”

    You don’t have to be an entrepreneur in order to relate to this segment. Whether you are or not, a lot of times our ideas come from us wanting to solve a problem in the outside world. Whether, it’s wanting to improve something you are using each and every day, or the services already within a business or industry, that you think could be improved.

    When you come up with an idea, don’t overwhelm yourself with thinking about everything you have to do all at once. You will, without a doubt run into challenges along the way, but it’s not about the challenges or our fears of stumbling, it’s about mentally staying there and not giving up on your goal.

    Simplify what you’re doing by sticking to just one phase of the idea at a time. Focus on your main purpose without looking 10 years down the road. One main reason why your great ideas "die out" is you don't do anything with them. A great way to accomplish nothing is to attempt to do everything.

    Break up your big idea into several small ideas, by asking yourself these questions…

    • How do I help one client right now?
    • How can I improve this one area of an industry?

    Challenge: Write your idea down, and note why you think the market would want your idea. Start small, using Facebook to gain feedback by sending out messages to friends or people you know, sharing your thoughts and ideas. Then, pick out 4 or 5 people who can help take your idea to the next level.

    How to Improve The World Around You.

    You may want to add value to people in other ways. One huge problem in the world is the sex trafficking industry.

    Today, there are more than 20 million kids in the world that are trapped in slavery. The very best way to eradicate this issue is by good people like us, stepping out and doing something. The reason evil grows is that good people choose to do nothing.

    One way you can become more involved in ending this sex trafficking industry is through an effort called “Operation Underground Railroad.”

    Here's how you can become a part of this movement:

    Place of Hope

    Christ Fellowship's Hope For Freedom

    Live Action - The Child Sex Trafficking Cover Up

    Understanding the Role of a Fiduciary

    Basically, a fiduciary is a person other than yourself, who acts as a financial advisor for you. This financial advisor helps manage your money and investments, giving you advice and the steps you should take that align with your best interest.

    Many of the "advisors" at the companies you may know about, such as Wells Fargo and Merrill Financial are not fiduciaries. Most of the time these companies are brokers.

    Tony Robbins, 6-time best-selling author, discusses the ideas and importance of a fiduciary, as well as giving expert advice in his latest book, “Unshakeable.” 

    Giving Advice to Yourself.

    If you could go back in time and give your younger self some advice, what would it be, and why would it be that?

    What are you doing to actively pursue good advice in your life?

    Make sure your decisions are based on your future opportunities. Whether that has to do with your wealth, improving your life, or your relationships.

    Regardless of your age or the situation you are in at this moment, focus on where you want to go and where you want to be 20-30 years down the road. Evaluate, and discover the steps you need to take in order to reach that goal.

    Our end result all comes down to our consistent actions over time and the choices we make along the way. We can all agree that nothing happens by accident.

    Sammy Hagar's Advice to Younger Sammy

    Hear what Sammy Hagar had to say. He was the lead singer of Van Halen and is known as the Red Rocker, and during this short clip of the interview he speaks about what advice he gave to himself and continues to give himself throughout his life. Sammy talks about the lessons he has learned from his mistakes, and the people who have helped him throughout his life.

    If you want to hear the full interview and see a clip, you can click the link below to our Facebook page and request it at any time.

    https://www.facebook.com/MichaelWallShow/

    51 min
  • 94: Progress, billionaires, the market, and alimony

    3:55 - Progress happens on purpose

    15:10 - The Forbes Billionaires List

    22:24 - Issues with the Market

    33:05 - Alimony Laws are Changing

     

    Progress Happens on Purpose

    The opposite of progress happens without purpose. When you don’t have a purpose you’re not only going to stay still, you’re actually going to go backward. Just like in a pinball machine, that ball just falls wherever it may and bounces off of whatever comes along.

    You have to ask yourself, do you want to progress in life? Are there specific areas in your life where you want to make some progress? Maybe with your family, your marriage, or with your kids.

    It’s important for you to know there’s a definite purpose in your life, something that’s bigger than you. When you grab hold of that, you’ll find you will begin to make progress towards that purpose.

     

    There are two ways to do nothing.

    1. Do nothing. That’s the most basic way that is obvious to most of us.
    2. Try to do everything. This is the method that sneaks up on us. It’s veiled in an attempt to make massive progress but we end up making none.

    Action: Write down just 1 or 2 things you want to improve in your life right now. Don’t overload the list with everything you want to accomplish in your life, just the one thing you can focus on right now.

    Be specific about the actions you can take to make progress in those areas. That way you can measure your progress.

    Place of Home - https://www.placeofhope.com/

    If you’re looking to make a difference in the lives of those who can’t fight for themselves, please consider supporting Place of Hope who is rescuing abused and neglected children.

     

    The Forbes List of Billionaires

    1. Jeff Bezos - Amazon - $112 B
    2. Bill Gates - Microsoft - $90 B
    3. Warren Buffett - Berkshire Hathaway - $84 B
    4. Bernard Arnault - LVMH - $72 B
    5. Mark Zuckerberg - Facebook - $71 B

    There are now 2,200 billionaires in the world now and 67% of the billionaires on the list are self-made. These are people who did not inherit their wealth. These are people who have created something of value on their own. That’s a very encouraging thing for all of us.

    Those of us who approach life from an entrepreneurial mindset will be the next ones who are going to show up on this list of billionaires.

    Challenge: What entrepreneurial idea do you have that you can go after? Go for it! 67% of the billionaires on this list did exactly that.

     

    Market Update

    The big question is whether we’re going to see the markets continue to go up in spite of the recent trend downward.

    We’ve been in a sustained Bull-run for about 9 years. We know this isn’t going to continue forever.

    One of the challenges the market has today is the political risk it faces 24 hours per day. The news is non-stop and never been more overwhelming in our lives. Because of this, we’re in a place where we’re going to most likely see the markets start to turn.

    Remember, in 2009, we started to see something called “Quantitative Easing” which basically was the Federal Reserve printing money to buy Treasury Bonds from the government, which put money into our financial structure. That’s what boosted the markets until late 2014.

    So what should you do with your investments? It’s important to now talk with your advisor about specific changes you can make to your portfolio in light of this speculation on the market shifting. It’s critical you look at the amount of risk you have in your investments right now because this downturn could be bigger than what we saw in 2008.

    Now is the time to lock in your gains while the market is high.

     

    Alimony Laws Will Be Changing

    Starting on January 1st 2019, alimony payments will no longer be tax deductible. It’s going to cost a lot more to get divorced starting in January.

    My suggestion is that couples who are facing marital challenges should look at the financial cost a divorce is going to have and invest that money into quality marital counseling.

    Challenge: Keep that money that would go to taxes and spend it on counseling.


    Resource: The Intentional Family on Facebook - https://www.facebook.com/TheIntentionalFamily.net/

    44 min
  • 93: Planning for retirement fund distributions and understanding bitcoin

    Michael Wall covers the following topics in this episode:

    • 02:16 - Popularity is no measurement of success.
    • 10:14 - Tariffs and their impact on our economy.
    • 23:33 - RMD’s Required Minimum Distributions
    • 34:22 - Jason Botts, former MLB Player with the Texas Rangers
    • 40:08 - Trying to understand Bitcoin

    Connect with Jason Botts at http://jasonbottspeakstate.com/

     

    Need A Professional Review of Your Portfolio?

    Wall Private Wealth LLC is here to help you:
    Call 888-511-WALL (9255) to schedule a personal wealth review. 

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    49 min

About The Michael Wall Show

From the publisher's feed

Discover how you can live the way you truly want to live, a life with purpose, a life lived well. Michael is a fun and informative, best-selling author and international speaker who has been featured…