Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Do you feel like you are behind on your finances and setting up for the future or do you feel it’s too late for you? Did you think you would be further ahead, but there have been surprises and set-backs that have been hard to overcome? In this episode, Amanda and I answer Sharon's question. We are all in store for financial surprises, but the good news is with the right planning and information they don't have to derail you. If you are ready to start building the right foundation, today’s Ask The Money Nerds segment of the Wealth Labs Podcast is for you!

Time Stamps:
2:50 – From Sharon: I have a pension that is worth $36k, however, I am also behind paying my taxes which has caused a lean of $16,000 on our house. We are looking at building up our 6 months’ worth of cash reserves. Should we wait till we negotiate an offer with the IRS before we take the money from the pension to help fund our 6 months of living expenses?
4:20 – Important financial habits to cultivate
6:10 – A few thoughts on what to do before investing in multifamily properties, so you are prepared to win!
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/go/?p=wealthlabs&w=wwrd-wl

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

In today’s Ask The Money Nerds segment of the Wealth Labs podcast, Stolba and I break down a question from Trevor about improving cash flow and getting access to lines of credit. So if you have more than one loan and are looking to shave a third of the time it normally takes to pay it off or you want to get the best interest rates, this episode is for you!

Time Stamps:
1:26 – I am working to free up cash flow and lines of credit to improve my credit score to get better interest rates in the future on loans and insurance as well as save cash for some small investments that I am interested in.
1:50 – Trevor’s Cash Flow and loan situation outlined
3:20 – Looking at Trevor’s loans through the lens of the Cash Flow Index
3:45 – The 3 R’s: Restructure, Renegotiate, Reallocate.
4:30 – Different ways to improve your credit score
8:10 – A typical return on an investment
9:05 – The 5 Levers to Economic Independence
11:30 – How do you go about starting a business in times where things seem a bit more uncertain?
13:15 – The Four C’s: Credit Score, Cash Flow, Collateral, Connections.
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/go/?p=wealthlabs&w=wwrd-wl

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

While refinancing a car is not as common as refinancing a house, there are several opportunities that you might have to give you more cash flow into your life. Today on the Ask The Money Nerds Segment of the Wealth Labs Podcast, we talk about how to get the best interest rates on your car loan/refinance as well as how you can use the equity in your car to free up cash flow by paying of your credit cards with a more efficient loan!

Time Stamps:
1:02 – Today's question comes in from Courtney: What is the best company to use when refinancing my car loan? When would someone consider refinancing a car loan? We're going to dig a little deeper into the question and cover some nuts and bolts of this process.
2:15 – Is a credit union over a large bank better for getting a car loan?
3:48 – What is the process of refinancing a car loan?
6:00 – When buying a car, do I take the rebate option or the zero interest rate? How car companies try to charge you interest upfront when you purchase a vehicle.

***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/rockefeller-book/letter/

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Are you wanting to make more money, but are not sure where to start or what to do? Do you ever feel that life has more to offer, that you want to make a greater impact or start doing something that is more fulfilling? Today's episode of Ask The Money Nerds is about finding a way to make more in a way that is empowering.

Get your copy of the Dream Map by visiting: https://wealthfactory.com/solution

Time Stamps:
2:03 – Today's question comes in from Juan: I want to do more with my life! I currently work as a cook and am interested in business, psychology, money and social skills. How can I identify my strengths and add value to others, so I can make more money?
3:57 – What is Soul Purpose and how can we identify it in our own life?
4:40 – A morning ritual is you creating space to discover your soul purpose. Education, exercise and enlightenment are three areas Garrett incorporates in his personal routine.
7:24 – Declare your vision! Express your intention and commitment so people know what you are up to. It's okay if it feels uncomfortable.
9:50 – How to be fully engaged but not attached.
10:45 – Identify energy drains and remove them or make amendments so you can use your reserves for YOUR contribution.
12:50 – Don't under estimate the power of self-education.
14:30 – Be careful of the thoughts, ideas, and people that you surround yourself with on a daily basis. Through media and our relationships, we are inundated with ideas about who we "should" be, so take an inventory to make sure you are surrounded by the people who are going to help you get to where you want to be.
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/rockefeller-book/letter/

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Are you wanting to be a better investor? Do you know a distraction versus an opportunity? Or how to assess and manage risks? When is it a good time to invest? Discovering your investor DNA is the first place to start. Today on Ask The Money Nerds, Stolba and I teach you about the importance of identifying your Investor DNA so you can keep and grow your money all while protecting the downside.

For tools for figuring out your Investor DNA visit https://wealthfactory.com/scorecard

Time Stamps:
2:30 – Today's question comes in from Gary: What resources do you recommend to better assess deals, partners and business models when I am transitioning from being an under-educated employee to an independent entrepreneur, intra-preneur, and investor?
4:25 – What is Investor DNA?
5:37 – Resources to find your own Investor DNA
9:00 – The importance of Relationship Capital when you are investing in yourself.
11:30 – If someone asked, "How can I support you?" would you be able to answer them on the spot? Here's a strategy to make sure you have things at the top of your mind when someone offers to help.
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/rockefeller-book/letter/

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Are you frustrated with your job or career? Has your income been impacted by the economy? The notion of trading time for money robs us of the true value that we have the potential to share in the world during our lifetime. Today on the Ask The Money Nerds segment of the Wealth Labs Podcast, we have a question from a young father that is looking for more. Garrett shares his favorite formulas and practical applications so you can move from despair to hope and from a place of feeling stuck to a place of creation.

Time Stamps:
2:20 – Today's question comes in from Anthony: How do I make more money?
3:19 – Why it’s important to recognized that trading time for money is not going to get you ahead.
4:30 – Create a massive vision for your life.
5:45 – The importance of mental capital
6:50 – If you want more financial capital, it's a byproduct of two other forms of capital, one of them being mental capital.
9:20 – Creating relationship capital. This is a game-changer!
10:55 – Understanding the power of pre-selling, also known as Win Then Play.
12:20 – Turning an idea into a concept with the Cycle of Creation.
15:00 – Be aware of escapisms--the activities and behaviors that keep us from doing the things we really want to do.
17:30 – We're often told to manage our time in order to get things done, but have you considered the concept of "energy management" and it's impact on your day?

***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/rockefeller-book/letter/

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Do you want to know how to get ahead if you have credit cards, student loans or other payments that are weighing you down? In today's episode we have a question from someone who is wanting to invest, but at the same time has an interest rate of 24% on a credit card. We have a number of options to help solve this problem, so listen in to learn about the formulas and strategies that will help you fine tune your financial life.

Time Stamps:
1:54 – Today's question comes in from Sylvia: I'm trying to figure out what I am doing with my business credit card. I have a balance of just over $9k with an interest rate of 24% and I no longer have the business. I have enough cash to pay it off, however I am trying to build up enough cash to buy a mobile home park in the next 3-6 months. What should I do?
2:30 – Explore the new Net Operating Loss (NOL) Rules
2:52 – Visit MissingMoney.com to see if you have any money that is rightfully yours.
3:10 – Consider doing a balance transfer, but pay attention to these considerations first.
4:18 – Calculate your Cash Flow Index and the Investment Index
6:00 – The difference between the Debt Snowball and Garrett's Cash Flow Index strategy.
9:20 – Does the Net Operating Loss (NOL) apply if a business recently closed?
10:20 – Understanding the Cost of Money and how to get better interest rates on your credit cards.
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/rockefeller-book/letter/

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

We have all been told that you should never touch the money that you have “saved” away into a retirement plan. But what if you life has gone sideways and you are struggling to pay the bills? On Today’s Ask The Money Nerds we are going to be tackling this question and our answer might surprised you!

Time Stamps:
1:47 – Is it reasonable to dip into my 401k to catch up on bills that went behind during a brief lapse between jobs?
2:15 – There is currently no penalty for invading a retirement plan in 2020
3:10 – Why you need to take care of yourself today
4:24 – You are your greatest asset
6:45 – Once people start paying themselves first, what are the biggest break throughs have you seen in other people?
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/rockefeller-book/letter/

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Your credit score influences more than just the amount of money you can borrow. It can affect your interest rates, how much you pay for insurance and can limit the amount you are able to borrow. Today on our Ask The Money Nerd segment of the Wealth Labs Podcast, Tim, Amanda and I take a deep dive into everything you need to know about credit. How your score is calculated, where you can go to see your reports, as well as how to fix and dispute errors!

Time Stamps:
1:28 – How do I fix my credit?
1:53 – How is credit actually calculated?
2:05 – Utilization Rate defined and how it impacts your credit score.
3:45 – The second highest percentage of your credit score is determined by your payment history.
4:45 - Other categories that effect your credit score but are much lower percentages of your total score.
5:45 – How to call your credit card company to request a credit limit increase without it affecting your score.
6:45 – Should you close a credit card account once you pay it off?
7:45 – Understanding what constitutes your credit score will aid you in the process of cleaning things up.
9:10 – Check for errors in your credit score
10:00 – How often is it recommended people check their credit report for errors?
10:30 – Credit reports can be obtained every 12 months from each of the 3 bureaus. Consider pulling reports every quarter.
12:30 – What to do about reporting errors on your credit report.

***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/rockefeller-book/letter/

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Amid the chaos in the markets for the past month, collectively we are trying to figure out how to get back on track. Rather than giving us advice, most media outlets are trying to get us to “stay the course” and leave our money in the volatile market. On today’s Ask The Money Nerds segment of the Wealth Labs Podcast, Aaron and I give you the appropriate steps to getting back on track with your finances so you can have more peace of mind!

If you are looking for more tax ideas and strategies visit: https://wealthfactory.com/tax

Time Stamps:
1:20 – Is it a good idea to continue investing in the markets, even with the amount of volatility that we are experiencing?
1:50 - The importance of saving money outside of the market if you don’t have a 6 months of savings already in place.
3:03 – How to get more money now from the IRS.
3:58 – What does it look like to go back and amend taxes from the last three years?
5:45 – The importance of a trailing stop loss.
8:30 – Why outsourcing your finances can create unnecessary risk and what to do about it.
11:05 – We all experience set backs in life, here's how to get yourself back on track financially.
15:18 – The stock market is volatile because it is a secondary market.
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would the Rockefeller's Do - https://wealthfactory.com/rockefeller-book/letter/

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/