100 Wealth Building Secrets: Recent Episodes
wealthsecrets
This podcast talks about the 100 wealth building topics outlined in my book “100 wealth building secrets”. A very relaxed and conversational approach to providing financial education.
During this podcast we discuss the steps to take when leaving your job to start your own business. From the cubicle to the CEO!
We talk with Tyeisha Velasquez, a young woman that currently made the transition and has a lot to say about the process.
Check out her IG page at "Thesundaysaucefamily" or at her website: anygivensundaysauces.com
In this podcast we address what is holding you back from moving forward toward your goals.
Executive Coach Tandelyn Weaver joins on the discussion and gives excellent advice on how to get past your excuses!
During this podcast we talk about the differences between saving and investing, and why you should be clear on which one you should be focusing on during different phases of your life.
This is critical information to assure a strong financial foundation for building wealth.
During this episode we talked about various financial scams designed to separate you from your money!
Listen to this podcast and learn about the many uses for a private family bank. We also talk about my new multi-generational wealth building system called the Hive Family Wealth Building Strategy. Check it out!
In this podcast we discuss the importance of researching your family history. Doing so can give you some ideal of the accomplishments and wealth building efforts of past family members. This can also help you create a proper accounting of your families holdings and assets.
In this podcast we discuss the importance during this time of uncertainty to have a little extra cushion in your cash reserves. This heightens your level of security and allows your investments to work through the market corrections with risk of being depleted unexpectedly.
When it comes to building multi-generational wealth it makes since to combine your resources with other family members. Multi-Family Wealth Cooperatives can be a very effective generational wealth building tool.
During this podcast we discuss our Hive Multi-Family Wealth building System, designed to help families put in place the structure needed to establish a Multi-Generational Wealth Building Plan.
This episode deals with the psychology of money. When you know how to deal with your emotional relationship with money, you will be in a better position to manage your money and build wealth.
In this podcast we talk with two professionals that are a critical component of the home buying process. A mortgage broker and a real estate appraiser.
Hear what they have to say before you buy your home!
In this podcast we talk about a few was to minimize your taxes while building wealth and establishing retirement income.
During this podcast we discuss the concept of private pension plans funded with index universal life insurance policies. You will learn what a pension plan or defined benefit plan is and how you can establish your own non-qualified private pension plan.
In this podcast we talk about spending on needs for the first 3 months of the year, not your wants. Redirect all extra funds toward savings or debt reduction. This is called zero-balance budgeting.
Approaching the beginning of the year in this way puts in a discipline mindset, and will properly prepare you for your wealth building journey.
Percentages are present in all aspects of your financial life. It is extremely important that you know what percent of your money is where and why.
These percentages such as, percent of cash, stocks, bonds, real estate, etc should be in line with your goals and risk tolerance.
Today we talk about the concept of investing in single family and multi-family real estate and using the monthly cashflow to pay life insurance premiums for an index universal life policy.
This strategy can provide you with tax-free cash as well as tax-free income if you commit to the time it takes to accumulate value. this is sometimes called a private bank and a private pension.
We also talk with real estate investor and former NFL player Todd Scott. Todd is the owner of Great Scott Enterprises; and he gives us a masters class on how to invest in single family and multi-family units.
In this episode we discuss the importance of having a functional investment plan or strategy in place. But all the planning in the world means nothing unless you are consistently working your plan with discipline and conviction!
You have got to know what investments work for You; not what other people say is for you, or what they are investing in. Know what average annual return You need to reach Your goals, and what amount of risk that You are comfortable taking.
Stay in our wealth building lane. What he has and what she got has nothing to do with your journey. Use it as motivation; but not as a gauge.
During this weeks podcast we talk with Jornae Rideaux a young entrepreneur trying to grow her business and build wealth. Jornae owns Produce Milk (www.producemilk.com) She talks about the pitfalls of paying too much attention to social media feeds of people Living Their Best Life! Not getting caught up in what they have, and focusing on what she has and what she is trying to accomplish financially; has been very beneficial in her wealth building journey.
It is important that you have your money in the correct savings and investment vehicles when you are trying to build wealth. You would not keep your meat in the pantry! Don't keep your long-term investments in cash, or your emergency cash in stocks!
During this podcast we talk about the three-bucket approach to managing money.
In this episode we discuss the importance of overall good health and weight management. There seems to be a direct correlation between weight loss and improved finances.
We talk with Iisha Taylor, a certified Trainer and owner of Taylor'd Training in Louisville, KY.
She shares with us some great ideals regarding fitness management!
Iisha can be reached at taylordtrainingcoaching.com
Health is Wealth! And during this podcast we talk with Dr. Gary Sheppard about steps you should take to practice good healthcare maintenance. The key point that Dr. Sheppard addresses is the importance of annual checkups with your primary physician. Just like it is very important that you have annual reviews with your financial advisor. For more information about Dr. Sheppard go to www.memorialhermann.org
In this episode we visit again with Pastor Tia Norman. We last spoke with Tia back in episode 5 "Love people more than you love money".
During this episode we are discussing the concept of control, and how the only real control one as is on how they deal with victories, failures and stuff in general.
In this podcast we discuss the importance of getting ride of emotional baggage and financial trash. These things clutter your mind and hinder your ability to think clearly. It is hard to be optimistic and plan for bold personal and financial growth when are holding on to negative thoughts and experiences.
In this episode we continue our discussion on the importance of financial planning and the role it plays in wealth building. We have included an audio clip from one of the greatest motivational speakers in the country, Les Brown.
Please go to his YouTube channel to listen all the great talks and speeches he has available to help you're on your life's journey.
This podcast explains why structure, motivation and discipline are very important when addressing the six principles of financial planning.
Building wealth is a process that requires forethought, structure and a comprehensive plan. The next few podcast will talk about that process.
Today we talk with Melba Lee, a vision board coach and artist that specializes in helping people create a vision board that allows you to turn your dreams into a visual representation that you can see and touch. And financial planning starts with having a clear vision of your goals. What the mind can conceive, the body can achieve!
During this podcast we discuss the importance of completion, conviction and cooperation as it relates to building wealth.
Our guest is Tony Bowers, a Therapist with Great Life Consults. Tony and I have been friends for over 40 years, and I am constantly impressed by his knowledge, communication skills and his ability to solve complicated problems.
Tony can be reached at TBowers@GreatLifeConsults.com
The secret to managing your cashflow is to maintain a good handle on your monthly spending. By minimizing your monthly expenses, you can make this task a lot easier, and put yourself in a position to have discretionary income. When you have discretionary income, you can establish systematic investment plans. And consistent contributions to an investment plan is one of the most effective ways to build wealth.
During this podcast we talk about the importance of managing your work week and knowing what your billable hours are. When you know how much you earn per hour; you know how much it is costing you to do things That take you away from your wealth building activities.
We speak with business coach Tandelyn Weaver. And she shares with us the best practices for maximum effectiveness. Tandelyn explains the importance of maintaining a structured mindset focused on the task at hand. To speak with Tandelyn and schedule a complimentary consultation, email her at tandelynw@aol.com or through website at www.tandelynweaver.com and tell Her that you heard her on 100 Wealth building secrets w/ James Marshall.
In this podcast we talk about the importance of treating your goals like they are important! We discuss some helpful guidelines that you can use to stay focused on and committed to your goals.
In this weeks podcast we talk about not only the need to establish clear and concise annual goals; but also the importance of reviewing the prior years goals, accomplishments and failures.
What you did right and what you did wrong!
We discuss the importance of accountability, discipline and consistency as it relates to goal setting and accomplishing your goals.
In this podcast we discuss the importance of finding and maintaining good professional advisors; such as Religious advisors, medical advisors, legal advisors and financial advisors. These professionals can help you stay focused, productive and successful.
Our guest is Dr. D. Ivan Young world renowned master certified coach. He has a lot of information to share.
During this episode we discuss steps you can take to prepare yourself for a possible job loss. Steps that will minimize the negative impact that a drastic reduction of income can have on your wealth building plans.
listen to my interview with professional head hunter Aubrey Bedford, as she takes us through the job placement process. If you want to reach out to Aubrey, she can be reached at Aubrey.bedford@terrastaffinggroup.com
In this podcast we discuss the various types of insurance and savings vehicles that may be inside the benefit package at your job. We speak with Rhoda Haskins, MBA about the benefits of the HSA or Health Savings Account; and the many ways that you can use it in your financial planning process.
During this podcast we talk to Kevin Patton owner of Patton Insurance Agency. He explains the fundamentals that you need to know in order to make good buying decisions regarding your Auto, Homeowners, Life and Disability income insurance.
In this podcast we talk about the importance of knowing where to put different dollars with different purposes. Also known as the bucket system of wealth management. Listen and learn about the reasons and seasons of your wealth building dollars.
In this podcast we discuss the importance of knowing your current financial position; the good, bad and ugly. We discuss how this awareness is the foundation of your wealth building strategies going forward.
In this podcast we discuss the importance of anticipating and planning for setbacks of all kinds. It is important that you know how to transfer as much risk to risk management companies as possible. Health, disability, property & causality and life insurance is a critical part of any wealth building plan.
This weeks call in question is on the difference between 401k’s and Roth IRA’s. Important knowledge to have when planning for retirement.
The secret to success in any endeavor is effort. And that is also true when it comes to building wealth. Constant and consistent effort along with discipline and education is without a doubt the key ingredients to building sustainable family wealth. So keep pushing the ball up the hill!!
In this podcast I talk about the need for pray in all things we do; but in particular, pray for clarity and direction on your wealth building journey. I also answer a very interesting question from Fabrienne about mortgage rates and investment returns for a 25 year retirement accumulation goal.
I’m really excited about having Theresa Gombera from Zimbabwe read our wealth building prayer. FUNGA UMWE!
In this podcast I talk about the importance of listening! Listening to podcast and other audio that informs, educates and motivates you to build wealth. Wealth in all its forms: health, spirituality, education and money.
I list some of the top trending podcasts as well as some of my favorites. However, the most important thing is that you find out for yourself what you like listening to. At the end of the day what really matters is that you just listen and learn!
During this podcast we talk about action you can take to avoid the negative effect of inactivity bought by boredom.
I will also answer a great question from Tamar Davis about what small business owners should be investing in post pandemic.
During this podcast we discuss the importance of sustained activity toward your wealth building goals. Plan your work and work your plan!
I list ten basic steps you can take to build wealth for yourself and your family.
We are also debuting our “If you don’t know, now you know” series. This is where we highlight and answer listeners wealth building questions.
If you have a question, send me an audio file to james@marshallyourmoney.com
I look forward to hearing from you!
During this episode we talk to renowned psychotherapist Kine’ Corder. She shares with us some of the information she provides to executives, athletes and wealth builders all over the country. Your mind is your most powerful muscle; keep it sharp and fit!
It is important to know that some people are committed to separate you from your hard earned money. In this episode we talk about how to recognize and avoid frauds.
During this episode we discuss the importance of establishing an attitude of success. Success in establishing attainable goals; success in constructing a clear and concise wealth building strategy, and success in adjusting, adapting and overcoming obstacles on your way to the full completion of your goals.
Your attitude determines your altitude!
During this podcast we discuss the use of alternative investments in your portfolio i.e. collectible art.
We also talk about the importance of understanding other alternative investments like derivatives, hedge funds, cryptocurrency, etc.
This podcast talks about the concept of wealth preparation and family dedication toward the concept of building wealth. What you need to do to start the foundation of generational wealth.
During this episode we discuss one of the biggest reasons for divorce in marriages; money management! How can you change the dynamics of your relationship and work together toward building wealth.
During this episode we discuss the importance of talking about money management and wealth building before you get married. I discuss the importance of working together as partners in your financial endeavors. To bring this topic home; I talk with a couple that have been married 8 years. They discuss the problems they faced in merging their financial lives, as well as the solutions they implemented to move their young family forward.
Make sure your children are ready to receive the wealth you leave them.
educate them about basic financial management as well as how to grow and transfer wealth.
This is a bonus podcast to compliment podcast number 26 and 27.
It is a panel discussion taped for Toia Michelle YouTube Channel, titled Creating Generational Wealth.
Understanding the powerful impact of establishing multi-generational wealth with the use of life insurance.
leaving a legacy for your family is not only the right thing to do; but it can be one of the most effective strategy we can put in place to change to change the experience of Black families here in America.
There is power in the crowd; but only if that crowd is moving toward the same goal! When considering the concept of cooperative economics; a concept I call “The Hive”
You must be sure of the integrity of your group; wether it be family, business associates or friends. It is great for the members to have different views, skill sets and backgrounds. They just need to be on one accord as to the groups objective.
The strength of the cooperative is not just the money each person brings to the group; but also, the knowledge and energy! You don’t know everything; so don’t pretend. No one can make it alone!
I’m not talking about multi-level marketing schemes like friends and family here! No, I’m talking about family cooperative trusts that are designed to survive over multiple generations. I’m talking about private family banks that stand ready to bridge the gaps left by Comercial banks, and their unwillingness to provide assistance.
Cooperative economics can also work like an investment club, where the group of family members or cooperative pools their funds to build an investment portfolio of stocks, bonds, mutual funds, annuities, life insurance, ETF’s and Comercial real estate to build and transfer multi-family; multi-generational wealth. Of all these assets, the most impactful is life insurance!
This podcast is about Vision!
Everything starts with a vision; the vision that you have for the life you want to live. What do you want for yourself; what is your WDYWFY?!
Being clear and focused on what you want for yourself will help you avoid getting distracted by fools gold. When you have your own vision, you will not being taken in by the visions of those who want nothing but to separate you from your hard earned money and possessions!
During this episode we pulled audio from our video series "Conversations with a Millionaire". During this series we spoke to several millionaires about what wealth means to them.
The first segment takes place in Sitka, Alaska during an annual fishing trip with a group of clients and friends. during this portion I spoke with two brothers and two father's and their son's.
The second segment takes place in my office where I speak with several clients about their views on wealth.
I hope you are able to take away some information and encouragement from these discussions.
During this zoom recorded podcast I speak with some ladies at a Emporers Cut Cigars happy hour about things they have given up to build wealth.
please excuse the quality of this podcast; it’s just one of those sacrifices we have to make during this time of social distancing.
The objective of this podcast is to convince you that if you clear the clutter and get organized you will have a more productive and stress free life. And all problems can be solved by production!
My guest on this weeks podcast is Crystal Shockley, owner of "She Organizes Houston". Crystal goes into a lot of detail with her tips on the When, What, Where and How of clutter clearing and organization.
This are trying times for us all. There is a lot of uncertainty regarding our health, employment and our money.
Podcast number 21 addresses some concepts and actions you can take now and going forward to minimize your financial stress; as well as take advantage of what I hope will be a temporary event.
If you have questions or need additional information you can reach reach out to me through my website: www.marshallyourmoney.com
And remember practice good and deliberate hygiene, don’t cough into your hands, wash your hands constantly and keep practicing social distancing.
In this podcast I address the fact that things sometimes do workout, they go wrong and you fall short. Don’t give up; just step back, reassess and re engage. Just don’t give up, give in or quite!
During this podcast we speak with Dana Seay, a University of Louisville instructor with a background in financial planning and real life experiences in the art of starting over.
Remember that every problem has a solution; the secret is to focus on the solution and not the problem.
Dont quite; start over!
During this podcast we discuss one of the main reasons people loose money or miss opportunities in the stock market. Failure to take action because of fear, uncertainty or information overload will hinder your wealth building efforts.
I talk with another financial advisor and good friend from Miami for his thoughts on the subject.
In this podcast we discuss the amazing savings you can realize by using coupons and taking advantage of company sponsored discount programs. Check it out!
I am a realist; and I know that it is not easy to always do the right thing when it comes to your money.
So today I’m just asking you to stop doing the stupid stuff!
You know what you are doing to waste money; especially if you took my advice in podcast# 16!
There are many things that people do that waste money; things like:
- bank overdraft fees
- Buying a lot of lottery tickets (it only takes one to win)
- Buying furniture and appliances at Rent-to-Own places
- Over paying for depreciating assets
Just to name a few.
So how do you stop doing money wasting stuff? We will talk about it after our financial definition of the week.
This week The letter “P” is for PE Ratio:
PE ratio - The price to earnings ratio is a way of gauging whether a company's share price is cheap or expensive compared to similar companies in the same sector. You get the PE by dividing the share price by the earnings per share (EPS) figure. For example, Company X with an EPS of 5p and a share price of 250p would have a PE of 50. Investors are prepared to pay more for shares whose earnings they think are going to rise strongly, so demand pushes the share price up. But if the EPS doesn't rise proportionately, the company's PE will rise. So if Company X's share price rose to 400p, but its EPS remained at 5p, the PE would rocket to 80. A high PE can indicate a high-growth company, but it can also indicate that the company's earnings have taken a sudden, maybe temporary hit. Generally the PE ratio is seen as a kind of barometer of confidence in a company's prospects.
Now that you are properly motivated to stop wasting money, so you can invest in low PE stocks; lets carry-on.
Ok, pull out those 30 day dairy of expenses we talked about in podcast# 16.
-highlight all the unnecessary spending.
-Then underline the wasteful spending; this will be things you spent money on that did not add value to your life in some real way.
-Ask yourself why you have these expenses, and what else you could have done with these funds.
-Do the math. Multiply this amount by 12 to determine how much money you could have saved in your debt reduction, cash reserves or investment account; if you would have but the money there instead of this wasteful and unnecessary spending.
It’s not rocket science. Like I say on page 56 of my book “A Fool and his money”
“Ignorance is bliss and costly as a mother stinker! Sooner or later people got to want to stop paying $5 for $1 worth of stuff!”
Well there you have it! The bottom line is nothing will change in your life or your finances, until you are ready to commit to the change.
The world you want to live in starts with you!
Until next time; keep building wealth!
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To know where you are going, you need to know where you are. Taking an honest assessment of your finances is a critical step in the wealth building process; and that includes really knowing how much it cost you to live each month. When you know what your fixed and variable expenses are, you can make the necessary adjustments needed to marshall your money towards wealth building strategies!
learn more at www.marshallyourmoney.com
In this episode we discuss the benefits of life insurance; and why it is one of the most important parts of your wealth building plan. Included in this episode is a reading from one of my books “A Fool and his money: The financial education if Anthony Fool”.
Pick up a copy at Amazon.com
In this podcast we talk about the power of budgeting. When you know how much is coming in and going out; you can have more control of your money, to include how it is spent, saved and invested. We talk to two people who are at different stages in there life. Zoe, a 20 year old college student, and Tandelyn, a business coach with years of experience under her belt. Hopefully you will gain some useful knowledge that will aid you in your wealth building quest. Please contact me with any questions or topics you want to have covered in the 100 Wealth Building Secrets podcast. I can be reached at james@marshallyourmoney.com.
keep building wealth!
Don’t let procrastination and fear slow down your wealth building strategy. Deal with issues head on, and address setbacks immediately. This is how you minimize losses and maximize opportunities!
Embrace the good and bad news!
This podcast will give you a simple overview of the magic of compounded interest and how it can be a very effective tool for building long term wealth!
In this podcast we explore if it is possible to implement my cash flow strategy of gifting 10%, saving 10%, investing 5%, debt management of 25% and living off 50% of your take home income. I explain my concept and strategies, than I talk to some regular folk and get their thoughts on the matter. The consensus is that it is possible; but difficult. It takes effort, discipline and cooperation.
However, the reward is building family wealth!
In this episode we discuss the importance of cashflow management and budgeting. You can’t effectively build wealth or meet your accumulation goals without good cashflow management. And you cannot have good cashflow management without discipline and planning. This podcast will talk about strategies you can use to put in place good cashflow management practices.
During this episode we talk with retired NFL player turned real estate expert Todd Scott. He will help you to understand how to effectively use rental income as a part of your wealth building process.
This episode addresses the importance of budgeting and cash reserves. During this episode we talk with of group of workshop attendees from The Kingdom Builders’ Center in Houston, TX.
The attendees of the workshop discuss their views and understanding of this concept. Hopefully you will gain some helpful knowledge that you can use!
During this podcast you will hear from renowned artist Leonard Freeman, as he discusses how he established and has maintained his creative process. I will talk with you about why it is important for wealth builders to dream, visualize and think creatively to position themselves to build wealth.
Reading is fundamental! During this weeks podcast we talk to a couple of author's that share with you the many benefits of reading. Reading leads to knowledge, and knowledge is wealth!
In podcast number three we talk about the power of activity. Taking action is more productive than complaining. To help me make this point, I have invited Mr. C.L. Sedgewick from Washington, DC to discuss his views on surviving and thriving as a financial services professional. This is information you can use in your everyday wealth building journey.
In this ebisode we talk with psychologists Dr. Gerald Lee. he teaches us about the art of, and benefits of listening. Listening promotes learning, and learning is the pathway to wealth!
Join James Marshall, Author, Speaker and Registered Investment Advisor; as he brings to life the pages of his book: 100 Wealth Building Secrets. This week our guest is Winston Pittman, Sr. A very successful car dealership owner, with multiple dealerships over several states.
James Marshall is a registered investment advisor, doing business with Marshall Wealth Management, LLC; a registered investment advisory firm registered in Texas and Kentucky.