Reinvent Rich with Irvin Schorsch: Recent Episodes
Irvin Schorsch
Reinvent Rich with longtime personal wealth adviser, Irvin Schorsch gives you the inside scoop on how to live a happy, satisfied AND lucrative life. On the podcast he takes a holistic approach to finances by explaining the relationship between money, life satisfaction, and having the financial freedom to follow your passions.
We all yearn to be rich - in our bank accounts, in our personal lives, and in our pursuits of happiness. The Reinvent Rich podcast and book will show you the way!
In today's COVID-19 world health crisis, how do Pennsylvania Capital Management's 8 key principles help their clients succeed? Irvin and Mark Steinke dive into each principle addressing the steps PCM takes to partner with clients during life-changing events.
Highlights: * Today’s coronavirus world health crisis - 0:25 * Eight key principles for financial success - 1:19 * Creating solutions for families - 2:15 * The fear of coronavirus - 2:28 * Recommendations to stop the spread of coronavirus - 3:09 * Clients’ concerns - 3:50 * PCM takes the clients’ concerns personally - 4:48 * Working from home - 5:43 * Is the media excessive presenting the number of cases? - 6:20
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The wealth management industry has evolved over the past 25 years. Handling a client's financial affairs is no longer just enough. Client's struggle on how to get the right advice to overcome the hurdles that they don't know how to face. Mark Steinke sits down with Irvin to discuss the robust professional network of corporate partners PCM has designed to bring value and solutions to their clients' lives. Stay tuned!
Highlights: * What’s changed over the last 25 years - 0:36 * PCM's partners - 2:12 * Letting the clients define what they need - 2:43 * Helping clients to buy and sell business - 3:38 * Addressing the client's needs - 4:02 * Trying the services first - 6:10 * Ensuring quality for the clients - 8:00
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Given all the turbulence the Coronavirus has caused to the stock market, there is a "light at the end of your financial tunnel." Irvin and Mark Steinke discuss the positive outcomes of this global event and how investors can use this opportunity to improve their financial well being. Stay tuned and enjoy!
Highlights: * The Coronavirus situation - 0:27 * Coronavirus world impact - 1:22 * Lower rates - 2:41 * The impact of Coronavirus in your finances - 3:52 * Financial positives of the spread of Coronavirus - 5:11 * The mortgage rates are low today - 5:56 * Take advantage of the mortgage rates - 6:47 * Overcoming the fear - 7:17 * Buy when the opportunity arises - 7:52
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Given the recent volatility in the stock market, Chris and Andrew discuss why it's best to have a game plan and play the "long game" when it comes to investing. In addition, they cover some smart money techniques for investing in turbulent markets. Enjoy!
Highlights: * What is happening in the markets? - 0:27 * The recovery market process - 2:19 * Selling and buying stocks - 5:33 * The volatility of the markets in the past weeks - 6:37 * Investing in the markets - 9:55 * Pieces of advices for people that buy and sell stocks in the market - 13:15 * Revisiting your asset allocation - 14:42 * Talking about mutual funds - 15:52 * A global pandemic happening - 17:43 * What to do when there are volatility moments - 18:39 * Individual stocks to fall in love with - 19:23
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Today is March 10th, 2020. What's going on in the markets? Irvin sits down with Mark Steinke to discuss how the coronavirus pandemic is affecting the markets and most importantly, the world around you.
Highlights: * What is happening in the world? - 0:37 * The fear about coronavirus - 1:16 * How the coronavirus is impacting the market - 2:08 * How can you succeed with the spread of the coronavirus - 6:38 * Saudi Arabia and Russia oil war - 7:05 * How PCM can help families with this unpredictable situation - 8:08 * An opportunity to buy for less - 9:10
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Why would a company want to partner with Pennsylvania Capital Management? Mark Steinke and Irvin discuss the vast professional network of corporate partners that PCM has to offer their clients to create context and provide value. Enjoy!
Highlights: * Services that PCM offers - 0:33 * Partnering with PCM - 0:51 * Developing a professional network - 2:07 * Why sign up with PCM - 2:31 * Listening between the lines to know what the clients need - 2:51 * Creating a context for clients - 3:24 * Categories of partners that fit with PCM - 4:39 * Potential partners for PCM - 7:05
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Business owners want more control over their lives and the ability to take back precious time to spend with their families. Mark Steinke sits down with Irvin to study how business owners can take this first step starting with investment management. Investing money has become a commodity. The true game-changer is the investment advice business owners are receiving to plan a "bigger future" for their families. Stay tuned and enjoy this episode!
Highlights: * A question about business owners - 0:25 * PCM as a unique tool for clients - 1:18 * Providing satisfying results - 1:36 * What can business owners do? - 2:41 * Challenging business owners - 3:15 * Anticipating pitfalls in a company - 3:32 * Developing successful habits - 3:45 * At PCM, teaching business owners for financial success - 4:09
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With interest rates at historic all-time lows, Chris and Andrew delve into the reasons why refinancing your mortgage may be ideal given your personal financial situation. Be sure to stay tuned and enjoy this episode!
Highlights: * Interests rates falling - 0:26 * Refinancing your mortgage - 0:36 * Happy Super Tuesday! - 1:05 * Why to refinance your mortgage - 3:39 * Playing with your mortgage payment - 5:05 * Justify why do you want to refinance your mortgage? - 8:13 * Low rates and refinancing - 10:15 * Reach out to your tax advisor - 10:47 * Be aware of your emergency fund - 12:53
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Chris and Andrew discuss the record number of 401K millionaires observed in Fidelity's 2019 retirement plan study as well as uncover the startling facts about the baby boomer generation being underfunded for retirement. They further talk about the steps needed to reverse this perilous situation that can help investors bolster their savings from retirement. Finally, Chris and Andrew take an in-depth look on "buying the dip" vs dollar-cost averaging into the stock market. Stay tuned and enjoy!
Highlights: * An article about 401K millionaires - 0:33 * Retirement accounts with a million dollars in each one - 1:16 * Using the 401K plans - 3:33 * Good news - 4:36 * Working with clients to provide them comfort and confidence - 6:13 * The importance of saving more - 9:12 * It's a good opportunity to buy stocks - 11:42 * The value of anticipating your pitfalls - 16:15
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The increasing epidemic of Coronavirus is affecting the world in multiple ways. Chris, who is a new member of the PCM family and a financial planner, talks with Andrew about the financial matters related to the Coronavirus. Stay tuned!
Highlights: * A new team member at the PCM family - 0:23 * Chris: a certified financial planner at PCM - 0:38 * What happened in the market this week? - 1:08 * The increasing epidemic in China and some statistics - 1:49 * The Coronavirus impacting the market - 2:32 * China is going to be affected economically - 3:27 * How the market is affected - 5:18 * Chin's market, imports, and exports - 6:51 * What's the Secure Act? - 9:30 * What are multiple employer plans? - 10:40 * Diving into the IRA - 15:10 * Looking inside a 401(K) - 20:16 * Explaining more of the Secure Act - 20:47 * Strategies that you could take into account for the future - 23:32
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Irvin will talk about one of the eight principles for financial success. He created these eight principles to help his clients, and today he will explain one of those principles in particular: listening between the lines. Stay tuned and learn all about this principle.
Highlights: * The eight principles for financial success - 0:44 * What is listening between the lines? -1:05 * The idea of looking forward - 1:34 * A client example to explain the principle for financial success - 2:43 * Dealing with life-changing events - 4:18 * PCM gives you solutions when you are struggling with your finances - 5:13
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Financial expert Irvin Schorsch talks with the director of ExPress Education, David Geistwite. They talk about life after retirement and how it is the beginning of a new chapter. Listen to this episode and learn about what you can do after retirement. Enjoy!
Highlights:
- Teaching financial professions - 1:51
- The retirement process - 2:52
- Having another step in life - 4:17
- David's example about a client's retirement - 4:49
- Worrying about after retirement - 5:47
- Having more time to do things that you always wanted to do - 10:01
- You do not stop in retirement - 11:50
- Continuing to be active in life - 13:14
- Reinvent your own - 15:55
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Welcome to the Reinvent Rich Podcast! At PCM we have several clients that are doctors, who have deep knowledge in many areas. Today, Irvin will talk about how it is to work with doctors in the financial area and how their expertise adds a new dynamic.
Highlights: * Planning for the future - 1:12 * Maximizing pension plans - 1:31 * The main principle that Irvin uses at PCM - 2:28 * Creating the context - 2:48 * Doctors make a difference - 3:23 * Doctors and the financial world - 3:47
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This can be a daunting question if you’re not prepared for retirement. Irvin talks with David Schloss, Human Resources Leader and Employment Attorney Principal at DMS HR Consulting, LLC. They discuss retirement and what it really means and how you can enjoy this next phase of life. Enjoy!
Highlights: * What retirement means - 0:52 * Redefining what retirement means - 1:21 * When you can be ready to retire - 1:51 * David as a Human Resources Professional - 3:51 * What are Human Resources? - 5:25 * Waiting for the right opportunities in your career - 6:37 * Being an attorney and having different jobs - 7:04 * Differences between companies - 10:00 * Great things about being in a small company - 11:51 * Are you considering retirement? What happens next? - 12:23 * Reinventing life after retirement - 13:09 * Is it scary not having a full-time job? - 14:30 * Having more family time - 17:40 * It’s not having to give up your career - 19:20 * Working as an attorney for some companies - 20:24 * Thinking about retirement in a traditional sense - 22:58 * Bringing value to clients - 26:41 * It is not enough to be yourself, it's about selling - 28:16 * Life is different when you're a consultant - 29:39 * David's success definition - 30:47
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Learn how Pennsylvania Capital Management is unique in their industry and how Irvin works with his clients in a very unique different way. He provides solutions and guidance to clients' life-changing events. In today's episode, Irvin will explain how he helps all his clients!
Highlights: * Uniquely working with clients - 0:42 * What PCM offers for clients - 1:12 * Negotiating cars for clients - 1:31 * Giving guidance to clients during the negotiation - 2:24 * Good deals for clients - 2:59 * How PCM helps clients with their car deals - 3:40 * Reducing the financial stress - 4:13
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Over the last years, PCM has been working with several doctors. Why are doctors so focused on keeping their money safe? Irvin will dive into the various reasons and solutions, so stay tuned and enjoy this podcast.
Highlights: * Why are doctors so focused on keeping their money safe? - 0:44 * Keeping money away from Uncle Sam - 1:11 * Finding aspirations and priorities - 2:19 * Eight principles for financial success at PCM - 2:38 * Having money for your pension plan - 3:17 * What are the seven types of risks? - 3:50 * Creating wealth and future - 6:40 * When is it beneficial to start talking to Irvin? - 7:53 * Time is the most critical issue - 8:58
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Anticipating pitfalls is critical to a family's success at PCM. This is the sixth principle for financial success in life, and the concept is about protecting your family and your cash flow with the right success habits. If you want to know more, stay tuned for this episode!
Highlights: * One of the principles for financial success in life - 0:26 * The sixth principle for financial success in life - 0:49 * Anticipating pitfalls in life - 1:10 * An example of the sixth principle - 1:30 * Being patient to find the right buyer - 3:09 * The hardest part of serving clients well - 5:00 * Providing comfort and confidence to clients - 5:30
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We are in a new decade, and today, Irvin talks about this election year and the happenings of 2020. He gives us an overall picture of what he thinks 2020 in the financial year could be like and what we should be aware of, so stay tuned and enjoy!
Highlights: * The election year in EEUU - 0:39 * 2020 is a very exciting year - 1:00 * The fear for many investors - 1:18 * The impeachment going on in EEUU - 1:37 * The best unemployed rates in the history of America - 2:04 * What we should be aware of - 2:36 * The philosophy of Pennsylvania Capital Management - 3:33
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One of Irvin's passions, when he decided to create his company, was wanting to be helpful in families' life-changing events. Irvin shares how he has helped to make a difference and how he brings value to families. Enjoy!
Highlights: * His passion for helping others - 0:34 * Connecting helpfulness with finances - 1:12 * Serving each client - 1:42 * How he defines his helpfulness - 2:24 * Making a difference in people's lives and finances - 3:36 * Creating eight principles to help people with their finances - 4:14
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Irvin Schorsch is the founder and CEO of Pennsylvania Capital Management. Today's episode is about why Irvin started this company in 1995. He explains how he helps people fix the parts of their financial lives that weren't working well. Irvin also tells us that he has to get to know those clients and take each one through a series of evaluations and then develop processes so that as life-changing events come into their lives, they know how to deal with them. If you want to know more, stay tuned until the end and enjoy this episode!
Highlights: * Helping clients with their life-changing events - 0:36 * How Irvin helps his clients - 1:04 * What kind of life-changing events he experiences with clients - 1:41 * Paying Uncle Sam's taxes? - 3:41 * A client's story - 4:28 * Using income to fix the family issues - 5:00 * An example of one life-changing event - 7:07 * The type of activity that Irvin does for his clients - 8:46
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Irvin sheds some light regarding the financial situation of Boeing stopping their production of the 737. Irvin gives us his viewpoint about the airline industry and about what happened in this situation. Enjoy!
Highlights: * The financial situation of Boeing - 0:29 * What happened with the Boeing? - 1:17 * The recent case of Boeing - 1:47 * The airline industry - 2:17
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Irvin started his company 24 years ago and created something called The Eight Principles of Financial Success in Life. Today, he shares why he created those principles and the value of learning. Stay tuned and enjoy this episode!
Highlights: * Helping families succeed in life - 0:55 * What are these eight principles? - 1:13 * Understanding all the principles - 1:39 * Why Irvin choose those principles - 2:38 * The importance of analyzing the options in life - 3:48 * Creating alternative solutions - 5:50 * Bringing clarity to the child - 8:38 * Many families do not measure the results - 10:20 * Creating context: The last principle - 11:41 * The eight principles of financial success can bring value to families - 13:07
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Are you struggling to know the difference between bad debt and good debt? In today's episode, Irvin will explain the difference between the two, how bad debt can ruin family life and how to avoid overwhelming feelings to ultimately thrive. Stay tuned and enjoy this episode!
Highlights:
- Difference between bad debt and good debt - 0:30
- Building credit card debt - 1:00
- Good debt provides a return to your family - 1:13
- Examples of good debt - 1:40
- A story about helping a client get out of bad debt - 2:00
- Paying off the debt - 4:17
- Invest in your future with debt - 5:05
- Borrowing as good debt - 6:25
- Credit cards can provide a feeling of power for families - 6:29
- Your credit record and score - 8:17
- Building your credit experience - 8:34
- Make your life simple! - 8:55
- Balancing debt that fits in a healthy life - 9:31
- Success for your family - 11:03
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Best-selling author and financial expert, Irvin Schorsch is joined by Frank Cassidy, President & CEO of FX Cassidy & Associates. Frank Cassidy founded Frank Cassidy and Associates and has been working in tax accounting, tax planning, individual financial planning, and compliance services for over 27 years. Along with his experience in individual tax and wealth management, Frank has worked extensively with small businesses and their owners including medical practices, information technology companies, and real estate businesses.
Links and Resources: * https://www.fxcassidy.com/about-us * https://www.facebook.com/FXCassidy/
Highlights: * Frank's challenges when it comes to working with clients - 1:15 * Tax changes - 1:33 * Lower rates - 2:25 * The 1031 exchanges and real estate - 3:10 * Frank's superpower - 4:22 * Service, attendance, and team members - 5:28 * Pieces of advice that Frank did not take - 8:07 * Having the same clients - 9:33 * Looking forward to growing his business - 9:57 * An open-minded firm - 11:01 * Frank's biggest challenge - 11:20
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Today’s show is with the first PCM Strategic Partner: Erik Eisen, who is the Founder & President of CTI Technical Services Inc. CTI Technical Services is a computer consulting firm delivering network design, information architecture, and support. Their network engineers have decades of experience designing the best solutions to meet clients' technical needs. Stay tuned and enjoy this episode!
Links:
- https://www.linkedin.com/in/erik-eisen-0420511b/
- https://ctiworkplace.com/
Highlights:
- The challenges clients face - 1:11
- What business is doing in a technology perspective - 2:26
- Potential risks that clients face -2:48
- Protecting a business-data - 3:40
- Being a technology-advisor - 4:20
- Erik's superpower - 5:18
- Figuring out how to solve problems - 5:50
- The importance of wanting to grow - 7:18
- Being outside the box thinker - 7:57
- Knowing a little bit more about Erik - 8:24
- The future of CTI - 9:30
- Providing technology services and helping clients grow their business - 9:47
- In whatever business, get a professional to help you - 10.48
- Some company's challenges - 11:20
- Wanting to grow and expand their business - 12:28
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Everyone knows it takes a lot of money to raise a child. On today’s episode, you’ll learn how you protect your wealth, take care of your family as well as teach your children about the responsibilities of life.
Highlights:
- It takes a lot of money to raise a child - 0:34
- Spending hours to raise a child - 0:55
- Teach your kid about responsibilities in life - 1:14
- Strategies about boomerang children - 2:08
- How parents should rethink their role when their kids are growing - 4:27
- Talking about Reinvent Rich Book - 5:13
- Navigating life for themselves at boomerang children - 6:20
- Teaching your children to be independent - 6:45
- Spend time with your kids - 7:16
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The reality is that there are many ways that scammers and thieves will try to get what's not theirs. In the old days, it was pirates, pickpockets, thieves, and thugs. Today, these villains work behind the scenes, behind the screens to figure out a way to scan their victims out of money. When it comes to our finances, what should we be on the lookout to prevent financial fraud?
Highlights:
- The steps one can do to prevent financial fraud - 0:56
- Irvin’s experience in serving clients when it comes to financial frauds - 2:01
- Irvin’s takeaways when the numbers get big in financial fraud - 03:12
- The most onerous experience advising clients when it comes to financial fraud - 4:22
- A few steps for our listeners to take if financial fraud hits you - 05:47
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Andrew and Irvin talk about how to act when facing financial desperation and when it’s a good idea to call for help. Also, they give us a piece of advice to have a better financial situation, stay tuned and learn more!
Highlights:
- Talking about desperation - 0:29
- Dealing with clients - 1:07
- Talking about financial stress and financial disaster - 2:07
- The Reinvent Rich book by Irvin Schorsch - 2:43
- Reducing your spendings - 3:45
- Alternative strategies that you can use - 4:19
- Be smart and look for ways to have a better financial situation - 4:47
- The worst thing that you can do when it comes to your finances - 5:40
- How to reallocate your assets - 6:50
- An example of financial desperation - 7:02
- A piece of advice from Irvin to have a better financial situation - 8:14
- Talking about bankruptcy - 9:29
- Focus on a problem at the time - 10:18
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The bestselling author and financial expert, Irvin Schorsch, joins us on this new episode to talk about the beginner's guide to sudden wealth syndrome.
Highlights:
- How the clients view the American dream - 0:27
- Discussing the sudden wealth syndrome - 1:08
- Buying lottery tickets - 2:16
- A financial windfall - 2:52
- Emotions and lottery - 3:22
- How money can significantly change your mind - 5:38
- Quitting your job if you win the lottery - 6:20
- Rethinking where your assets are - 7:13
- Consulting a professional - 8:00
- Everyone wants to enjoy their windfall - 9:31
- Convince yourself that you have to manage your finances - 10:00
- The percentage of your windfall - 10:52
- Always protect yourself - 11:10
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Having wealth throughout our life brings in so many benefits to our everyday living. Today, Irvin and Andrew dig into why it is so hard for some people to create a financial plan that builds wealth and what are some of the perks we face when trying to accomplish this. Also, stay tuned until the very end to get to listen to Irvin’s TOP 8 recommendations to overcome this difficulty.
Highlights:
- People don't know the basics of creating wealth - 00:33
- The flexibility and safety that wealth gives us - 00:54
- Why putting all your money in the bank is NOT the smartest decision - 1:20
- The first step you should take to create wealth - 3:32
- Maxing out retirement accounts - 6:10
- An appropriate emergency fund to have - 7:30
- What to do after you have set up an emergency fund - 9:10
- The best time to change our asset allocation - 11:20
- Inflation's role when planning for retirement - 14:50
- When is a good time to get a pro to manage your investments - 16:35
- Irvin’s TOP 8 tips to building wealth - 19:10
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Get the tools you need to unlock the secrets of wealth by joining us on this podcast, on which we'll teach you how to get ready to make millions.
Highlights:
- Real life is not a dream - 0:54
- Differences between the dream world and the real world - 1:16
- Steps to achieve wealth - 1:59
- The foundation for money and finance - 2:20
- How do you approach your investments strategy? - 2:34
- You have to ask yourself if you take risks in your life - 3:00
- What levels of risks do you accept? - 3:41
- Four-types of risks - 4:01
- The inflation risk - 5:37
- The volatility risk - 6:54
- Revisit your values - 9:44
- Keep extra money for your family and save - 10:14
- Tools to be wealthier - 10:40
- Budgeting is a challenge for every family - 13:17
- Focus on your finances and teach your children about savings - 16:50
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The bestselling author and financial expert, Irvin Schorsch, joins us on this new podcast about how you can make up for the time you may have lost when thinking about retirement. Stay tuned to learn more about this fascinating topic.
Highlights:
- The first step to success in retirement - 0:38
- Changing your lifestyle - 0:58
- An example of a couple's expenses and retirement - 1:18
- Change your mindset about saving - 3:04
- Understanding the 401 (k) contribution - 3:59
- Taking risks on investments selections? - 4:37
- Investing more conservatively - 5:44
- Looking at what you are spending on your family - 6:46
- Opportunities to save money - 7:22
- The best time to sell - 8:10
- Make sure your investments match your financial goals - 9:03
- Getting an additional job - 9:45
- Trying Uber or a part-time job - 10:25
- Irvin's thoughts on retirement - 10:56
- Keeping your mind and your body engaged - 11:30
- Irvin's number one recommendation - 12:20
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On this new Reinvent Rich podcast, Irvin Schorsch is joined by Larz Macfarlane from Brigham Young University in Idaho, to talk about redemptive wealth. In life, everyone has setbacks, some are large and some are small, but the past should not be a restriction for our future.
Highlights:
- Larz's background - 0:49
- One curious kid - 1:32
- Receiving a scholarship - 2:59
- Enthusiastic about economics - 3:29
- The pain and the disease - 4:42
- There is something wrong - 5:29
- The brain tumor - 6:08
- Dealing with cancer at a young age - 6:49
- Family's help with the disease - 8:27
- Hope in the face of darkness - 9:00
- A hospital room - 10:19
- Having faith - 11:20
- How he defeated cancer - 12:16
- Life choices - 12:56
- An addiction to pornography - 13:38
- Certified financial planner - 15:33
- The obstacles that human beings face - 16:43
- Opportunities and redemption - 17:30
- Lessons from the fighting cancer - 17:46
- Redemption from the most devastating moments in life - 18:33
- Life is a gradual process - 19:530
- Discussing Irvin's book - 20:17
- The past does not define your future - 20:49
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Stay ahead of the curve and learn all about the tax reform and its implications for us as taxpayers on this brand new episode, as we listen to Irvin dive into what helps us and what hurts us.
Highlights:
- Implications of a tax reform - 1:11
- Understanding standard deductions - 1:40
- What changed with the standard deduction? - 2:00
- What about personal exemptions? - 2:31
- State-local taxes - 3:19
- How did the mortgage interest rules change? - 3:56
- How did the marginal tax brackets change for 2018 - 4:50
- Putting money on a pre-tax basis - 5:35
- Expansion of rules for 2018 - 6:58
- Saving to create wealth - 8:00
- What are qualified business income deductions? - 8:45
- Proper planning for the future - 10:09
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Irvin and Andrew share how we are uplifted by the people around us. From your spouse or partner to multi-talented professionals, Irvin recommends the “team players” we should surround ourselves with to achieve success and how to find them.
Highlights:
- Think about wealth creation as a team sport - 2:10
- First, think about your spouse or partner - 2:30
- Couples fight about money more than anything else - 3:00
- Have a monthly money meeting with your partner - 3:40
- How do you find a team to help you create wealth? - 4:20
- Find professionals who are talented in areas you are not - 4:50
- How do we avoid silly fights about money with our partner? - 5:00
- Who are these professionals you should be surrounded by? - 6:10
- How to evaluate the advisor you have found? - 8:15
- Ask about their skill set, and most importantly, how they can help the family - 9:57
- Ask the hard questions, they should know how to answer them! - 10:50
- After listening to this, what should be my next step? - 11:20
- Bring these pros to your life + start saving! - 12:40
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Irvin is joined by Andrew Randisi to discuss a concern many of his clients today have: our kids feel like they are entitled to everything! In today’s episode, Irvin explains why many young adults have a different perspective compared to other generations when it comes to saving, starting their own career and what it means to be successful in life.
Highlights:
- “I don’t need that much stuff, I’ll just enjoy the experience” - 1:20
- Irvin digs into why many youngsters start an academic career but don't finish it on time - 2:10
- Why some “kids” seem to have no value for hard work - 3:00
- Irvin recommends having this conversation with the entire family and demonstrate the hard work in your everyday lives - 4:00
- How to light a fire in these youngsters so they get out of their comfort zone and start their professional lives - 4:40
- As a parent, show your kids the benefits of compounding - 6:10
- Some people only start saving on their 30’s or 40’s! - 6:50
- Make saving a priority - 7:30
- At the dinner table, have conversations about the world. Give them that doses of reality - 8:00
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Balancing out your expenses, on this episode Irvin converses with his producer, Spencer Shaw, to talk about the “urge to splurge”. Stay tuned as they discuss how you can find the right balance between your booking list, and not blowing your wealth by providing some examples of splurging and basic necessities.
Highlights:
Buying what you shouldn’t buy - 1:41
Finding the right balance - 1:53
Having a savings mentality - 3:36
How fast money grows - 4:32
Extravagant life v.s. wealthy life - 5:27
Stress permeates all - 6:06
Achieving success - 8:09
Income v.s. expenses - 10:49
Is never is too late to change your mindset - 13:30
Resources:
https://www.amazon.com/Reinvent-Rich-Money-Moments-Meaning/dp/1681021056
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Is retirement an uphill battle? Today’s podcast is dedicated to answering this question, so join us as we listen to Irvin talk with his producer, Spencer Shaw. They discuss retirement and the comparison game in order to give us some tips for a successful budgeting strategy.
Highlights:
The biggest asset - 2:00
Asset growth - 2:08
Experiences with retirement - 3:14
Being frugal and then retiring - 3:37
Controlling spending - 5:04
Managing your budget and resources - 6:40
Why buy at full price? - 9:20
Taking advantage of sales - 9:56
Scrutinizing your budget - 10:23
Postponing your retirement - 11:00
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Do you know how to manage your finances after retirement? On this new episode of PCM podcast, Irvin talks with his friends Marlene and Charlie to discuss the topic of reinventing rich in your 80’s. Tune in to listen to Marlene and Charlie share their story of retiring over 20 years ago and the techniques they employ today to manage their finances adequately.
Highlights:
Marlene’s shopping tips - 1:26
How to manage your pension monthly - 1:44
Charlie’s career - 2:26
Making a shopping list every week - 3:21
Charlie’s current projects - 7:00
Money-saving techniques - 10:44
The importance of the credit card score - 11:20
Organizations that offer donations - 14:12
Celebrating 66 years of marriage - 16:22
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Managing your finances, as well as your life is for some people a real challenge, in this episode, Irvin talks about how your life evolves as he speaks with Alan Krantz, who is a full-time musician and teacher. He also talks about his investment philosophy and how to reinvest dividends.
Highlights:
Alan's background - 0:45
Alan tells us who he is - 3:50
You have to spend less than you make - 4:00
How to think about investing - 4:45
Saving money before you pay your bills - 6:52
When he started guitar lessons - 7:53
No matter what, you have to start saving money - 8:54
Alan tells us what he decided when he retired - 11:30
Why long term investment is the key - 15:19
Alan recommends to not lose money - 15:54
A blessing that he learned from his father - 21:12
You can be what you want to be - 29:05
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Providing a future for you and your family. On this episode of the Reinvent Rich Podcast, Irvin talks with Chad Johnson who is a strategic coach that works in Chicago and has eleven children. Join us as we listen to Chad's story of how he manages to raise a family and create a future for himself.
Highlights:
Raising eleven kids - 1:03
The challenges of parenthood - 2:07
One child takes all your time - 2:50
Building leaders - 3:33
A great family has great teamwork mentality - 4:07
Proper values - 5:07
Discovering their unique abilities - 6:21
Raising children with a mindset mentality - 10:13
Doing household chores for extra money - 12:48
Dan’s strategic coach concept - 15:13
Chad's five priorities in life - 20:33
Creating a family model -23:28
The joys and the challenges - 25:21
Thinking outside the box - 26:58
Resources:http://pcmadvisors.com
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Irvin sits down his lifelong friend Dr. Mehmet C. Oz to talk about his new book called "Reinvent Rich". It has lots of useful information about how to manage your finances. All the proceeds from sales will go to HealthCorps. Go to https://reinventrich.com to purchase the book.
Resources:
Watch the video interview at https://www.facebook.com/droz/videos/vb.35541499994/918513301686582
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When it comes to the psychology of wealth, money is not your most valuable asset. People work so hard to get more and more money, but what they really want is enough time to pursue their passions. Find out what your most valuable asset is in this impactful episode.
Resources:
http://pcmadvisors.com
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Clients want more than wealth formation, asset allocation and other technical needs. What they really want is someone who will listen and understand where they are coming from. They want someone to help them reposition the changes in life as effectively as possible. Together Irvin Schorsch and Dan Sullivan talk about the coaches perspective to Reinventing Rich.
Highlights:
What gave Irvin confidence to go out on his own. - 5:48
How Irvin can be of good use to his clients. - 7:53
What holds people back from taking action. - 16:21
One of the most prominent values his clients possess. - 19:04
Where the idea of Reinvent Rich came from. - 25:02
What Irvin wants to do in Stage 2 of his career. - 30:21
How to handle the retirement conversation. - 37:01
Why Irvin has assembled a network of advisors in his life and for his clients - 49:15
The difference between old rich and new rich. - 51:41
Resources:
https://www.amazon.com/Reinvent-Rich-Money-Moments-Meaning/dp/1681021056
http://pcmadvisors.com
Reinvent Rich Community:
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When you go to buy something do you just show up at a store and buy whatever you want? If you do you could save big bucks by listening to this episode. In this episode Irvin shares helpful strategies on how you can be a better researcher and negotiator with every major purchase decision.
Resources:
http://pcmadvisors.com
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Savings is an integral part of life, whether you are young or old. Irvin shares personal stories about saving silver coins as a young boy which helped him understand that money is merely a tool. It has no emotion with it and you need to use it effectively. He also shares saving for his first car and his first condo and why starting when your young is critically important.
Resources:
http://pcmadvisors.com
Reinvent Rich Community:
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Retirement isn’t an end, it’s a new beginning. Irvin asks the question: “What do you want to do with your days and how do I make them count?” You’ll hear how up and coming retirees have amazing opportunities to redefine their retirement years.
Resources:
http://pcmadvisors.com
Reinvent Rich Community:
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Irvin Schorsch breaks down the basic and advanced questions that we all have when it come to our family and finances. This fun-to-listen-to podcast gives you the insights that have worked for him--and his hundreds of clients--in his more than 30 years in the business.