Wealth by Design

This week on Worth It, we have a very special guest. Dannie Fountain is a business strategist and marketing expert who helps creative entrepreneurs grow their businesses. She's also written four books, travels the world for speaking engagements… and works at Google. And she's also only 25. For real.

Dustin and Danielle were so honored and excited to chat with Dannie about her journey through entrepreneurship and "traditional" employment in this episode. In this episode, they talk about how she does it all and how her speaking and travel engagements helped her create a resume that caught the eyes of Google.

Dannie, Dustin, and Danielle also talk about entrepreneurship through the lens of opportunity and financial security, and how corporate jobs and employers are beginning to leverage the power of entrepreneurs. Dannie also shares her views on employment and entrepreneurship, especially in regards to the idea that entrepreneurs don't make good employees.

This conversation goes into a deep discussion about what it's like to juggle so many moving pieces, how employment and entrepreneurship can help support people's best work, and the truth about the "not so glamorous" side of it all.

It's a great discussion with tons of insight, so make sure to check it out.

3:25 The leaders and laggers of the Millennial generation

5:05 When Dannie Fountain's entrepreneurial journey started

6:10 Dannie's original career path

8:05 How a fast food job helped her pay for college

9:30 How drunken LinkedIn changed her life

10:40 Why she almost deleted an email from Google

12:45 What 2017 brought to Dannie and her business

14:00 The power of resumes and experience in getting Google's attention

16:45 How Dannie climbed the ladder at Google

19:25 Why Dannie doesn't really use video

21:00 Dannie's tips for public speaking

24:30 The symbiosis between a traditional job and a side business

26:00 The financial security that comes with working for a company (and how to leverage that in your business)

29:05 Why Dannie has focused on compound interest to grow wealth

32:15 Why paying off debt is Dannie's goal for 2019

35:40 How Dannie sees herself impacting the world now and in the future

37:05 Why Dannie dreams of teaching entrepreneurs to use their experience to make a difference in the corporate world

37:55 The four ways entrepreneurs are assets for larger corporations

43:50 The #1 thing Dannie tells people when they ask how she does it

45:00 The four motivators

48:10 Dannie's biggest message about entrepreneurship

48:54 Whatever your reason is for doing something, that's enough - Dannie [paraphrased]

50:05 What Dannie would ask about money and financial planning

50:28 What the 25% Rule is and why it's important for entrepreneurs

52:18 The difference between retirement and revivement

54:30 Where you can find Dannie on the interwebs

For most people, a few drinks lead to some laughs with friends or maybe falling asleep watching Netflix. But for Danni Fountain, a few drinks leads her to LinkedIn. One night in 2017, she had a few drinks and got on LinkedIn and applied to over 300 jobs. Her business was in a slump and she was in the "famine" mindset, so she applied to everything she could find. She woke up in the morning and went about her day… and then received a message from Google. They were interested in her resume and wanted to have a phone interview.

Out of the 300+ applications she put out that night, only one got back to her — and she's worked for Google ever since. But why did Google want to work with her when nobody else reached out? Because of her resume

As Dannie points out in her discussion with Dustin and Danielle, her impressive and eclectic resume was what caught Google's attention. She had been a jet setter, public speaker, and marketing professional for over 8 years and had owned her own business for over 2.5 years when she applied for their job posting. More than that, she showed an innate ability to self-start, problem-solve, and consider costs, clients, and all the elements that go into managing your own business. Essentially, she had all of the skills they found ideal in an employee.

For many corporations, employees like Dannie are a huge asset, and their entrepreneurial heart isn't crushed in a corporate setting — it's given free rein. In this episode, Dannie talks about how many entrepreneurs think they're "not made for corporate work anymore," but she believes that's not always the case. Work is changing from a 9-5 to something more fluid, something that allows people to work with a company and to also explore their interests and skills, as well. Entrepreneurs are scrappy, they don't ask questions, and they're keeping the bottom line in mind. All of that is great for traditional employers and corporations.

More than that, it also gives entrepreneurs the financial security to do what's most important in their lives.

Entrepreneurs know the hustle well. They also know that sometimes, no matter how hard you hustle, there will always be feasts and famines. Those famines are very hard to navigate and it's even harder to balance the feasts to see you through. That's why, for many spirited entrepreneurs and side hustlers, a day job is just what they need to bankroll their interests — and to create a secure future.

While not everyone works at Google, many have jobs that provide 401(k)s, health benefits, PTO, and more. That provides a level of security that makes it easier to take risks with business or to pursue other interests, and many companies are open to supporting their employees in their efforts. And for many Millennial entrepreneurs who enter the workforce with student loan or business debt, it can be great to have consistent income to help pay that down.

Of course, the conversation delves even deeper into Dannie's background, her passion for working with creative entrepreneurs, and how she does it all at such a young age. Dustin, Danielle, and Dannie also talk about business expenses, debt, and why retirement isn't the goal for most entrepreneurs.

If you're wondering what entrepreneurship looks like for Dannie, or how her career at Google has helped her grow her own business, check out this episode.

RESOURCES & PEOPLE MENTIONED

• Dannie Fountain's website
• Dannie Fountain on Instagram (@dannielynnfountain)

Not everyone dreams of retirement and retirement means something to different to today's generation — especially if you're an entrepreneur or business owner. But even if you don't plan on calling it quits permanently one day so you can hang out with your grandkids or curse at your neighbors for walking on your lawn, you might want to have some money in the bank. Why?

So you can do whatever the hell you want, that's why.

This week on Worth It, Dustin and Danielle are digging into what it means to live a work-optional lifestyle. And while it doesn't look the same for everyone, there are some hard-and-fast rules that can help you save up for your own work-optional lifestyle with the help of a "backup life bank."

01:35 What a launch and retirement have in common

02:35 The difference between retirement "back then" and retirement now

03:22 What to do when you don't have to work for money, but still want to feel useful

04:25 How retirement might mean different things to different people

04:40 The definition of "work-optional lifestyle"

05:40 The importance of knowing what you need to get by when you don't want to work

06:50 How to factor future income into your early retirement

07:46 What the Journal of Financial Planning says you need to have saved to retire

08:25 What financial planners do to help you figure out retirement savings

09:23 How much of your income you should be saving and giving

09:33 The importance of having a backup life bank

11:12 What to include in your backup life bank calculations (hint: everything)

13:02 Why investing is a very smart way to get your backup life bank filled

13:43 How to DIY your backup life bank calculations

Even if you're like Dustin and you don't see yourself ever quitting your day job, it helps to have money in the bank for a rainy day or a really big emergency. Better yet, it helps to have money you can fall back on when you want to take a sabbatical, or have a kid, or just relax for a while. Nobody said you have to stop working, but a work-optional lifestyle gives you the flexibility to define that work. Best of all, you don't have to worry about who's paying the bills while you're off doing whatever you want to do.

But to rock the work-optional life, you need a backup life bank. Others might call this a retirement fund, but you're too cool for that. You need a backup life bank that:

• Helps you pay all the bills you want to keep paying (hello, mortgage!)
• Lets you do the work that speaks to you most
• Accrues interest so you don't have to worry about inflation and cost of living

So what do you need in your backup life bank to launch your work-optional lifestyle? That's different for each person — and it takes a little bit of math. *groan*

According to a 1994 Journal of Financial Planning — yeah, Dustin is that old — the safest percent to withdraw from retirement (or backup life bank) funds is 4% per year. By withdrawing 4% from your backup life bank each year, the account can still accrue enough interest (on average) to account for inflation and increased cost of living. But what does 4% withdrawal rates mean for your work-optional lifestyle?

It means that you'll need about 25 times your minimum income requirements to live a work-optional lifestyle (or to retire entirely). Your minimum income requirement is everything you need to live the way you want, from your Tesla Model X payment to your mortgage or your monthly massage subscription. Whatever you want to sustain in your work-optional lifestyle should be accounted for in your minimum income requirement. Then, you need to times that amount by 25.

For example, if you know you need $80,000 a year to maintain your lifestyle without changing anything, you'll need 25 times that — $2 million — in your backup life account(s). Once you have that amount, you can pull 4% of your funds out each year ($80,000 —- isn't math cool?). Of course, if you live in a van down by the river… you may need a little less than $80,000 a year.

Are you reading this AND thinking "$2 million?? Who can save $2 million??" You're not alone. That's why Dustin and Danielle are breaking down their tips to help you accrue that backup life bank on this week's episode (hint: saving pennies won't cut it, you're gonna have to invest).

In the episode, Dustin and Danielle touch on how to "DIY" your backup life bank by:

1. Calculating your net worth
2. Starting to save and invest today
3. Building up your backup life bank based on the 25x Rule

If you're hoping to live a work-optional lifestyle and want to know how to get there, this episode is for you. And if you're not sure that you can do this whole "backup life bank math" thing by yourself, you can always contact Toujours Planning to see if our financial planning services are a good fit for you.

• • 1994 Journal of Financial Planning
  • Net Worth Worksheet inside our Resource Library
  • The Toujours Planning Quiz — are we a good fit for your financial planning needs?

This week on Worth It, Dustin and Danielle are kicking off a new series called "Self Employment + Retirement." Over the next three weeks, they'll be talking about everything entrepreneurs and self-employed people need to know about retirement, from savings to a work-optional lifestyle to what to expect when you retire.

First, though, they're talking about the different retirement savings options you have when you work for yourself — and they break each one down to determine which is best for you.

4:05 Why having a financial advisor can help with you choose between accounts

5:24 Four options for retirement accounts for self-employed individuals

5:48 Why 401(k)s may not be relevant to self-employed people

7:22 The nuts and bolts of an IRA

8:38 Why an IRA is like a "home base" for your savings

10:04 Special cases where you can pull money out of your IRA before retirement

10:28 How IRAs and Roth IRAs differ

13:54 The difference between SEP IRAs and SIMPLE IRAs

14:50 Using employee and employer contributions to maximize your savings

16:30 Three different ways to contribute to a Simple

18:05 The maximum you can save with a SEP (hint: it's a lot)

19:50 Stacking accounts to get the most out of your savings plan

20:30 Why you aren't stuck with just one account forever

There are a ton of retirement account options out there, but when you're self-employed, it's helpful to whittle down the options to the ones that are most relevant. In this episode of Worth It, that's exactly what Dustin and Danielle do.

While most people consider a "401(k)" to be synonymous with a retirement account, they're not always ideal for self-employed individuals. Dustin and Danielle explain why — and, instead, recommend four accounts for self-employed people:

• Individual retirement accounts (IRA)
• Roth IRAs
• Simple IRAs
• Simplified Employee Pension (SEP) plans

Four options can still be overwhelming though, which is why they break these down into two different categories:

• Accounts for solo business owners

• Accounts for business owners with multiple employees

If you work for yourself and mostly by yourself, you'll have a fairly simple approach to retirement. You can open IRAs or Roth IRAs accounts and contribute to them just like a savings account, but which is right for you?

An IRA is just an account type. It's not an investment. You can contribute to it — up to $5,500 a year as a single person — and get a tax benefit. As an added bonus, if you have old 401(k)s or retirement accounts from previous employers, you dump them into your IRA.

Dustin and Danielle explain that, with an IRA, you can invest within the account but usually won't be able to touch the money until you're 55. This is tax-deferred, so when you pull money out over 55, you pay income tax on that later. You can also get a tax deduction on what you contribute to your IRA, but only if you make less than a certain amount. Dustin and Danielle give you all the deets in the episode, so make sure to take notes!

The second account, a Roth IRA, has about the same general benefits of an IRA. However, there is one major difference: If you hold for at least 5 years, and are at least 59 years old, the money you pull out of your Roth can be 100% tax-free. Because a Roth is an after-tax contribution, you may want to start a Roth if you know your income will be higher later in life. This is especially great for entrepreneurs who are just starting out and plan to make a lot of money over their lifetime. That way, you don't have to withdraw money at your new, higher income tax bracket.

The one downside to a Roth is that, for very successful self-employed individuals, you can't contribute to a Roth if you make over a certain amount. If you're making a lot of cash, tune into the episode to see if you qualify to contribute to a Roth.

Do you have more than a handful of employees working within your business? Dustin and Danielle explain why Simple IRAs and SEPs may be your best bet for retirement savings (for you and them).

Any business owner with one or more employees, or anyone who makes freelance income, can open a SEP. Contributions are tax-deferred (meaning you don't pay taxes until you pull it out) as well as tax-deductible for the business or individual. For businesses, this is a great deduction, but it may not be right for everyone. Dustin and Danielle give a few reasons why in this episode of Worth It, and recommend SEPs for businesses with only a couple of people on the payroll. Make sure to tune in to the episode if you're curious!

Simple IRAs are, well, simple. Even Dustin and Danielle have one. With a Simple IRA, the employee and employer can both contribute, but the majority is contributed by the employee. There is a $12,500 per year contribution limit for employees, but employers can contribute up to 3% of the employee's compensation. There are also 2 other ways to contribute to a Simple IRA as an employer, so make sure to listen to the episode for more info.

Dustin and Danielle have talked about the difference between 401(k)s, Roths, and IRAs in a past episode, but this one gives you self-employed folks a ton of actionable information to help you determine which account is right for you. If you've been thinking about savings accounts that will help you live a work-optional lifestyle, this is a great episode to listen to.

Make sure to bookmark the episode or takes notes, as well, so you can have the information you need when you go to open your account. And if you're in need of a little more help, you can contact a CERTIFIED FINANCIAL PLANNER™ with questions.

• IRA, Roth IRA, 401(k)… What the Heck is the Difference (Ep. 10)

• Ask your questions!
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Connect with Dustin on Twitter: @DRGranger

If you're a die-hard entrepreneur, you're made to build, launch, and profit from the businesses you've thought up. And thanks to those businesses, you're able to afford the life you want to live and do what you're good at each day. But as you probably know, maintaining and running those businesses is hard work. When you stop working or clients dry up, those businesses can be a serious risk to your financial wellbeing.

In this week's episode of Worth It, Dustin and Danielle are shedding a little light on this topic and explaining why building and owning multiple businesses isn't the same as diversification… and how it can actually be a risk to your future financial wellbeing.

03:05 Why you don't want to be like the creator of the Fyre Festival

07:33 Why starting another business isn't true "diversification"

08:22 The risk of starting multiple businesses

08:57 The true definition of diversification

09:08 The difference between utility and luxury businesses

09:48 Different types of asset classes

10:20 How diversification can protect you and your family from bad times & personal disasters

15:44: How much you should be saving and giving

18:13 Which assets you can use to fund different savings goals 19:07 Why diversification needs to be a priority now, not later

Basically, diversification means allocating money and "changing up" your income streams in ways that reduce risk. You want to have multiple sources of income and investments to make sure that you don't have all your eggs in one basket. In this week's episode, Dustin and Danielle use this definition to explain why owning multiple businesses is NOT a good diversification strategy.

One of the main arguments they debunk in this episode is that owning many different types of businesses counts as diversification. As Dustin explains, entrepreneurs are likely to build businesses in the same skillset, industry, or model that's been successful in the past — even if it's seemingly an entirely different product or service.

On top of that, if the economy takes a hit and you're operating three "luxury" businesses (products or services that aren't necessary to get by), those three businesses are going to take a hit — and so are your income and savings. Even if you were to diversify between "utility" companies (products or services that are necessary for living, like food) and luxury companies, the businesses still depend on extra consumer cash to stay afloat. When the economy takes a nosedive, it's often harder to find new customers, making it more expensive to do business.

But most of all, Dustin and Danielle explain how multiple businesses can be more of a burden than a blessing during times of disaster. Entrepreneurs tend to overlook the risks of owning multiple businesses when it comes to disasters of the personal, professional, or economical type. What happens if you get sick, or the office catches fire, or your dog dies? The momentum you're responsible for in each of your businesses will decrease and you won't be making the same amount of money. In this sense, no matter how wildly different your businesses are, your income is truly reliant on your ability to work

That's why true diversification is so important, and why Dustin and Danielle are diving into it on this week's episode.

In this episode of Worth It, Dustin and Danielle dig into what true diversification looks like, including the types of income and investment avenues you have.

Yes, your business income(s) count as a spoke in your "wheel of wealth," but what are the other ones? Do you:

• Own real estate?
• Have stocks or bonds?
• Have piles of cash on hand?
• Collect valuable artwork?
• Have savings or retirement accounts accruing interest?
• Own commodities (like gold)?
• Invest in bitcoin?

Each of these are different asset classes and they count as diversification. Having more than one of these assets gives you a safety net should anything happen to the others. Even in a major economic downturn or disaster, these different asset classes can be used to keep you (and maybe your businesses) afloat. See how that works?

In this episode, Dustin and Danielle also give you some tips on how to better diversify your wealth, and also discuss the importance of financial goals. To meet your financial goals, including retirement or saving for your dream yacht, you'll need to use different asset classes and short-term, intermediate, and long-term goals — called buckets. The "Bucket Strategy" can help you break down your financial goals and make it easier to see how different asset classes (rather than another business) can help you reach each of them. If you're worried about investing and stocks, or don't understand it, Dustin and Danielle have you covered with their Stock Market 101 Guide.

If you're tempted to start another business to fund your lifestyle, or you want to use another service or product to create a "passive source of income," this episode is a must-listen. While creating and building new businesses is what you're good at, it's also important to arm yourself with other tools. Diversifying your wealth means that you can do what you love everyday without worrying about losing it all.

• Stock Market 101 Guide
• The Bucket Strategy (Episode 004)
• Diversification
• Asset classes

• Ask your questions!
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• Connect with Dustin on Twitter: @DRGranger

Do you hear the word "debt" and instantly think of it as shameful, bad, or even scary? If so, you're not alone. According to the latest statistics, the average American household has $135,768 in debt — including mortgages, student loans, car loans, and credit card debt. On top of that, 7 out of 10 people say that debt is necessary in their lives, but they wish they didn't have it.

Most of us have debt, so why is it something that we want to get rid of (or feel ashamed to talk about)? This week on the podcast, Dustin and Danielle are talking about debt: why it's not as bad as you thought it was, how debt can actually improve your life, and what you can do to tackle it.

2:17 Danielle's experience with credit cards

4:50 How interest can work for or against you

6:00 Why debt isn't always bad

9:27 The definition of good debt

10:10 How student loans can be both good and bad

11:20 What counts as "bad" debt

12:07 Why high APR credit card debt is Enemy of the State No. 1

13:50 Four ways to tackle your debt

14:12 Why reframing "debt" as "leverage" is so important

15:45 Using debt to increase liquid assets

17:11 How debt can be used to help you save for future goals

17:40 Why you need to prioritize debt (and how)

20:44 A bit about debt consolidation

21:33 What the 3:1 ratio is

22:32 Why the financial crisis of 2008 was so bad for people

Do you think of debt and instantly think "Bad!"? Well, Dustin and Danielle are here to bust that myth. In this week's episode, they talk about all the ways that debt can be useful in our lives. They also talk about the good, the bad, and the ugly of debt and give specific examples:

• Good debt: Could you afford a house without a mortgage (aka debt)?
• Bad debt: Are you paying a crazy-high interest rate for that new car?
• Ugly debt: Did you put that weekend in Cabo or that shopping spree on a high interest rate credit card… and only pay the minimum?

Which kind of debt do you have? Most of us have a mix of all three. That's why Dustin and Danielle are sharing their tips for prioritizing and evaluating your debt so you feel more empowered and less stressed.

In this episode, Dustin and Danielle evaluate each type of debt and how it may be working for you. With their insights, you'll be able to better determine which debts you might want to keep, which debts you want to pay off, and which debts to avoid all-together.

If you've got debt you're worried about, Dustin and Danielle also share 4 ways to tackle your debt (and how you feel about it):

• Reframe and redefine debt.

Some debt allows you to do great things with your life, like those student loans or that investment in your business. In these scenarios, it's important to reframe the word "debt" and turn it into "leverage." Leverage helps you get to new places you couldn't go before, which is why some debt is actually a good thing.

If you're not sure which types of debt count as "leverage," tune into the episode.

• Prioritize your debt.

When you have multiple types of debt, there is a hierarchy you can use to determine which ones are good, bad, and ugly. In the episode, Dustin and Danielle talk about the importance of evaluating interest rates to determine which debt you can leverage and which debt you should pay off ASAP.

• Keep debt at bay.

A lot of "financial gurus" like Dave Ramsey will tell you debt is dumb. And while Dustin and Danielle don't agree on everything Dave says, they do agree that it's best to avoid debt where possible. Dustin shares a tip for keeping your debt to income ratio low — and how you can calculate it — in the episode.

• Start to look at people as either leverage or debt.

It's not just money that counts as debt, and it's not just money we can use as leverage. Dustin and Danielle talk about how debt is a mindset, and how it overflows into the relationships you have with people. Are you surrounding yourself with people that make you feel weighed down or emotionally in debt? Or are you making an effort to build relationships with people who help you move up in the world?

If you're like most of us and you have debt, whether student loans, credit cards, or mortgages, you'll definitely benefit from listening to this episode. You'll learn the 3 types of debt and how to tackle them, but you'll also walk away with a more balanced view of your money and how you spend it. Hopefully, the insights in this episode relieve some of the guilt or shame you have surrounding debt, as well as give you tools you need to offload the debt that's not serving you.

As Danielle says in the episode, "Not all debt is bad." Make sure to listen to this week's episode to hear all of the great tips and insights Dustin and Danielle provide.

• "Leverage"
• Archimedes
• "Liquidity"
• Dave Ramsey

• Ask your questions!
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• Connect with Dustin on Twitter: @DRGranger

When you first started out in your business, you were probably so excited to get to work each morning, to see the ball start rolling and to watch the progress you were making. In that "honeymoon phase" of business-building, it's so easy to love your business and feel fulfilled in your work.

But what happens when that initial excitement wears off? And what happens if you find yourself doing things you don't necessarily love, but that keep the business moving (at least a little)? It's hard to love everything about our businesses, but it is possible to craft a business that you love for the long haul.

That's exactly what Dustin and Danielle are talking about this week on the podcast

[9:29] Why falling in love with your business is an ongoing pursuit

[9:50] The importance of checking in with yourself and how you feel about your biz

[10:26] How your happiness impacts your business

[10:59] The dangers of sticking to the "blueprint" others have created

[13:40] The 3 things you need to love your business

[13:50] Why the people you work with matter

[19:00] Why "doing what you love" instead just a cliche

[21:30] What Bill Gates says you should do with your life

[22:44] How every decision you make drives the future of your business

In this episode, Dustin and Danielle talk about the 3 ways they stay in love with their business:

1. Work only with people you love
2. Do what you love
3. Drive your business

There's always stuff that you're not going to l-o-v-e in your work. There are always going to be cranky clients, days where you just want to stay in bed, and — ugh — taxes. But with these 3 tips in mind, you can love more of what you do every day.

But how? Dustin and Danielle do a deep dive on each of these tips in the episode this week, so make sure to check it out. But here's a brief rundown:

Work only with people you love. This means everyone, from your clients to your virtual assistant to the financial planner you hire. Fire the ones who give you ulcers. Hire people to take on the things you don't like doing — there is always someone out there who loves doing the things you hate.

Do what you love. In that vein, stick to your talents. Don't do everything for your business, no matter how much you hate it or how bad you are at it. The more you get to do what you love about your business, the more likely you are to stay in love. Not sure what you love? Check out the Ikigai Worksheet Dustin and Danielle created just for you 😘Drive your business. You created your business to give yourself the life you want. Every action you take should move you toward that goal. If you're following someone else's blueprint or looking around at what other people are doing, you're going to fall out of love with all of it.

During the episode, Dustin and Danielle also touch on the importance of committing to your relationship with your business. As the driver of your business, it's your duty to plan and implement things that make your business fulfilling for everyone. Most of all, it's not a one-and-done event; you'll need to reassess your relationship with your business from time to time to make sure it's working for you. Hopefully, the Ikigai Worksheet and this episode can help you do just that

• Ikigai Worksheet
• Benjamin Franklin
• Bill Gates

• Ask your questions!
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• Connect with Dustin on Twitter: @DRGranger

In this week's episode of Worth It, we're talking all about fears. Fear is a normal (and necessary) human emotion, but it can often stop us from doing what we want in life. That also applies to investing and growing our wealth. Fear surrounding money is so common that it's a major part of our work as CERTIFIED FINANCIAL PLANNER™ professionals.

That's why we're breaking down some of the most common fears when it comes to money… and how you can move forward despite your fear.

11:43 The 3 types of fear (and how they play into your finances)

13:20 How to demystify the stock market

14:54 Common fears about investing

16:33 The truth about logic and emotion

19:46 Actionable ways to face your fear head on

20:07 How to be a superhuman like Warren Buffett

24:06 The power in picking one investment strategy

24:30 How to weather ups and downs in your investments

As we discuss in depth in the episode, the 3 types of fear are:

• Fear of the unknown
• Fear of change
• Fear of failure

We've all felt these kinds of fears; it's just part of being human. In our financial lives, though, this fear can manifest in a number of ways, including never starting your investment journey, losing money in stocks, and reacting without the long-term in mind. In the episode, we give a few more examples and talk about the biggest fear — investing in the stock market. P.S. Make sure to check out the episode to hear more about how to use our free resource, Stock Market 101.

Many people assume that we are logical most of the time, with occasional moments of emotional or irrational behavior. But the truth is, we are much more emotional creatures than we think we are. We react when we're happy, sad, scared and — even when we believe we're acting from a place of logic — science finds that our emotional centers are actually the ones driving the boat.

That's why we think it's so important to discuss fear and how to work around it.

In this episode, we help you by sharing 3 of our favorite tips for overcoming fear when it comes to your finances:

1. Be superhuman. Think Warren Buffett; someone who believes in doing the opposite of what others are doing when the market changes. Buffett doesn't give into the fear, and he doesn't get greedy when the markets are up. He monitors the situation and acts from a place of logic, not fear. Of course, that's easier said than done.
2. Set a discipline. When it comes to NOT letting fear rule the roost, you'll need to make sure fear doesn't get a chance to take hold. A discipline helps you not react in fear, like avoiding watch the news all the time or only checking your accounts once every 2 months. Having a savings discipline is also important.
3. Work with an advisor. According to a Vanguard study, advisors add about 3% to your overall investments each year, compared to going it alone. Having someone in your corner who understands the financial planning world — and can talk you off a ledge when things get rough — is invaluable.

If you want to hear about how we've personally been affected by fear and how we help clients with their fears, tune into this episode. You'll also get more in-depth insights on how to "hack" your fears and make them work for you.

• FREE RESOURCE: Stock Market 101
• Vanguard Study: Putting a value on value: Quantifying advisor's alpha
• Warren Buffett
• Worth It Episode 4: Saving for the Future, While Enjoying Life Now

• Ask your questions!
• On Facebook
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Connect with Dustin on Twitter: @DRGranger

Managing your money is a little bit like going camping or hiking. You spend a lot of time preparing and packing for the journey and then you're off, ready to see where the road takes you. But what happens when you forget your map? And what happens when you don't plan out where you're going?

Starting off without a direction can feel exciting, but it can also prevent you from seeing (and doing) everything you want. The same goes for your money. If you don't have a direction for your money, you may feel like it's not enough, or that you're not able to reach your goals. But your money can help you do all those things… it just needs a little direction. Listen to this episode to learn why your money needs direction and how to do it.

0:48 The importance of a roadmap when it comes to using your money successfully

5:47 Why Dustin doesn't go hiking without a map anymore

11:05 How hiking without a map is a lot like managing money without direction

11:55 What 'direction for your money' really means

13:49 Dustin and Danielle's favorite resources for giving your money direction

13:59 How to determine your direction with a net worth statement

14:30 Why you need a timeline for your financial goals

15:14 The power of an investment plan in giving your money direction

17:41 How the bucket strategy helps you give each dollar a job

In this episode, Dustin and Danielle give you plenty of reasons why you need a direction for your money. But where do you even start?

To give your money direction, you'll need to start by calculating your Net Worth. Dustin and Danielle share a Net Worth Calculator in their collection of financial planning resources that makes this easy. This will tell you where you're at with money and you'll have a better view of where you need to focus your money most.

Dustin recommends doing this at least once a year. It's an ongoing living document that needs to be updated so your money's "marching orders" are in line with your current situation.

We all have goals and most of us have them written down. But what if you added a timeline to them? In this episode, Dustin and Danielle give you some great questions to ask yourself to flesh out your timeline — and they also give you tips on how to use a Financial Timeline to help you see your plan in action. (Note: They have a timeline you can use in their financial planning resources).

You might read that and think an investment plan is a financial plan. But it's not. An investment plan is something you can do without an advisor, and it's more of an investment goals analysis than anything. It's not just for retirement investment goals, either. An investment plan is great for investing in a work-optional lifestyle at any age — or for travel, home buying, college savings, etc. To create an investment plan, Dustin and Danielle share their favorite investment planning tool that will tell you how to direct the right amount of money to your goals.

(P.S. Check out the episode if you want to see how to use this tool to the fullest.)

The best way to give your money direction is to give it different jobs. At Worth It, we've talked about the "Bucket Strategy" before, which includes:

1. The first bucket: Your emergency fund.
2. The second bucket: Your intermediate goals.
3. The third bucket: Your long-term goals.

Dustin and Danielle explain what each of these buckets mean and how you can direct your money to fill each one, so make sure to check that out. They also explain how the investment planning tool will help you figure out how much to allocate to these goals (and how long it will take you to get the buckets full).

Hopefully, this episode gives you a great launching-off point for your new money "map." The best part is that you can do these yourself and figure out where you stand… without ever asking for help.

Have you decided you need help giving your money direction? Toujours Planning may be able to help. See if we're a good fit by answering a few simple questions.

• Big Bend National Park
• Worth It financial planning resources
• Saving for the Future While Enjoying Life Now (Episode 4)

• Ask your questions!
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• Connect with Dustin on Twitter: @DRGranger

Are you guilty of holding on to things just a little too long? We're not just talking about those jeans from high school — we're talking about the big stuff: Jobs, negative relationships, and even other people's expectations of you. Maybe even your expectations of yourself.

We all want to level up in some way, whether that means taking on a side hustle so you can build your empire, hiring on an assistant, or finally getting coaching for that big scary dream you've got. But we've all got baggage that just keeps weighing us down.

The good news is: you can let it go. And we are gonna help you figure out how in this episode of Worth It (we promise, there is no Frozen sing-a-long in this episode).

• 6:07 All the different ways people choose to level up in their lives.
• 7:04 That you're definitely not alone in feeling scared about letting go.
• 11:24 What happens when you let go of what's been holding you back.
• 13:20 How Danny Meyer, a real modern day trailblazer and the founder of Shake Shack, let go of his fears to build success.
• 17:22 What the goal of letting go really is (Hint: it ain't just success).
• 19:22 Tips you can take away to help you let go and level up.
• 23:30 How to find that voice in your head that tells you not to let go and shut him up.
• 25:42 The importance of outside perspectives in helping you let go.

This episode dives into what it means to let go of something, especially when it's hard or emotional. It also explores how to let go of something that's not necessarily bad, like that job you used to love or that client who helped you get it all started.

But most of all, this episode highlights how to let go and how to quiet the anxious, fearful voices in our heads that tell us to "Play it safe" and to not leave our comfort zone. After all, that's what letting go is — stepping out of your comfort zone and into something new.

In this episode of the Worth It Podcast, we give our tips for how to let go. While it may take time to make the leap, we think these tools will help you prepare for it. These tips include how to:

• Reduce your fear about change
• Increase your confidence in your trailblazing vision
• Figure out exactly what's most important to you now

To help you figure out how to let go, or to even support a decision you've been chewing on for a while, this episode comes with access to our Free Ikigai Worksheet and Free Vision Worksheet.

By using these worksheets, people who are ready to finally let go of whatever is holding them back can get to work. Don't know what's holding you back, but know you're not reaching your potential?

These worksheets can help you by diving into:

• What you would do if you had enough money
• What you regret if you had only 24 hours to live
• What you're good at
• All the ways you can make money
• What you think the world needs most from you

In the episode, there's also a great tip for those who have multiple revenue streams. This profit analysis tool will help you see which revenue stream or client is really worth the time and effort — and which ones may not be working for you anymore.

Using these two worksheets and the profit analysis tip shared in the episode, you'll be able to get a really good picture of what you need to let go of (what doesn't serve you anymore) and how to move into taking that next big step

But you don't have to do it alone.

When one of us steps forward and starts to blaze a new trail, we set an example for all of the others who are hesitating. People like Danny Meyer, the founder of Shake Shack, are great examples of what happens when you just let. it. go. We've also had to let go of things to move our lives (and business) forward. We share Danny's story, as well as some insights on what we're letting go of in 2019, in this episode.

• Free Ikigai Worksheet
• Free Vision Worksheet
• Danny Meyer

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On this episode of Worth It, Dustin R. Granger, CFPⓇ and I interview Jesse Patel, the cofounder of Workflowy, the fastest, most flexible list maker on the planet and one of our absolute favorite tools for business and at home. We discuss how this simple, but powerful tool has changed our lives and his. We dig into his journey from working a typical 9-5 job, to joining an incubator, to creating the ultimate list-making program, where you can shift focus from the big picture to minute details in a fluid fashion. So take a pause from your to-do list and listen to our interview with the creator of the ultimate to-do list app!

• [2:34] The journey behind the creation of WorkFlowy: from idea to incubator to success
• [16:41] How the app appeals to people on both ends of the organization spectrum
• [27:54] What are the changes and goals does Jesse envision for Workflowy
• [32:25] How Jesse strives for balance and flexibility as co-founder of a startup company while raising twin toddler girls with his wife

According to Jesse Patel, it's a way to think big, but start small. It is basically a giant to-do list, where you can dump all your ideas in and then create order from the chaos. From podcast notes to procedure manual, Dustin and Danielle use WorkFlowy at work (it's completely essential to their business!) and at home. As Dustin says, it becomes an extension of your brain, where you can work out your thoughts. It is the perfect tool for thinking and focusing because you can shift your focus from big picture ideas to the tiny details in a fluid fashion.

The app appeals to people on both poles of the organization spectrum, from Type A to the more scattered brain types. It fulfills a core need for people, to be able to see all their thoughts catalogued and searchable. It has been used by doctors, lawyers, screenwriters, and more. No matter the career path, users can create their own systems and processes tailored to whatever business they are in.

Even though the key to WorkFlowy is the simplicity, Jesse hopes to continue to improve and add to the app. One of the key features he believes is missing, is a dates & reminder system - a way for the app to pull out certain parts from across various lists and create a daily to-do list. Despite this challenge, users continue to use the app for hours a day. Danielle put it best, once you use, you are hooked and there is no going back.

Jesse is a CEO of a successful start-up, father to twin toddler girls, and loving husband, how does he do it all? He stresses the importance of setting up specific work hours during the day in order to not fall back into his workaholic ways. Jesse also learned to understand when to step back in his business and trust in the work of others, you can't do all the things always. Occasionally you also need to give yourself some space (maybe on a skateboard) to be creative.

• WorkFlowy
• WorkFlowy on Twitter

• Ask your questions!
• On Facebook
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Connect with Dustin on Twitter: @DRGranger