The John Chapman Show Podcast: Recent Episodes
The John Chapman Show
The John Chapman Show is your source for retirement strategies to help you better manage your time and money. Pre-retirees face some major headwinds: ultra low interest rates, high stock valuations, increasing healthcare costs and longevity, and the ever changing tax and estate laws. If you're planning to retire within the next 10 years, are you on track to attain financial independence? Host, John Chapman, is a CFP® and Partner at WorthPointe, a boutique wealth management firm helping clients get the most from life with the money they do have. For more information, you can check out www.thejohnchapmanshow.com.
On Monday November 25th of 2019 Charles Schwab purchased TD Ameritrade for 26 billion dollars in an all stock deal. For some context, Schwab was started in 1971 by Charles Schwab, he is an entrepreneur from Northern California and graduated from Stanford in 1959. It should be noted that this is different from Klaus Schwab the founder of the World Economic Forum. That's a completely different guy. So why did Charles Schwab want to buy TD Ameritrade? Well the reasoning is fairly straightforward - it was an opportunity to almost double their customer base from 12 million customers to 23 million customers, and add over a trillion dollars in assets. To help better understand a brokerage company let's use an analogy of a grocery store. in the same way that you need to go to a grocery store in order to buy food you need to go to a brokerage company in order to buy Investments like stocks ETFs or Mutual fund. The main thing TD Ameritrade customers need to know is that they will have to create a new username and password on the Schwab website after their account has moved over. You do NOT have to create new accounts on the Schwab platform, that will automatically be done for you and the investments moved over. For more information, check out welcome.schwab.com
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Hello!
As we approach the halfway point for 2023, I’d like to share a brief overview on the markets and help you think about your financial plan. Also, be sure to check out my short YouTube video below for additional commentary!
Strengths:
- Large Cap Stocks (up over 9% by the end of May ‘23)
- Money markets, CD’s and T-Bills, yielding approximately 5%!
Weaknesses
- The Fed continuing to raise interest rates
- Banks, Real Estate Investors impacted by high interest rates
- Small Cap and International Stocks showing relatively slower growth compared to Large Cap Stocks thus far
Opportunities
- Investing in profitable, reasonably priced companies such as Value and Dividend paying companies
- Dollar Cost Averaging into the market (for those who are still working)
- Learning from last years volatility and staying diversified (more on this in my YouTube Video)
Threats
- Potential for interest rates staying higher for longer than investors anticipate, which could lead to slow growth or a recession in the future
In summary, while the market was tumultuous last year, this year the market has offered a welcomed respite.
For now I remain optimistic that the market and economy will slowly move forward since unemployment is still low and most Americans are spending money, which helps propel stock prices.
While anything could happen next, the most successful financial plans are those with clearly defined goals, times frames, and risk profile. That way, you can weather any storm and stay on track for financial independence.
Want to chat more? Please feel free to reply to john.chapman@wpwm.com and we can schedule a call.
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The market volatility over the past few years has left some investors reeling...to the point in which they're asking themselves: Isn't the stock market just like one big casino anyways!?
While the market certainly can feel like a roller coaster at times, the reality is this, with gambling, the casino always has higher odds of winning, and the gambler has higher odds of loosing.
Whereas with investing in the stock market, since 1926 the market has produced positive returns In 75% of those years, meaning investors have had high odds of growing their investment.
Why is that the case? The reason is because investors get to benefit from being "part-owners" in innovative companies as they deliver massive value to their customers.
Of course, we don't know what the future might hold and investing involves risk of loss.
But so long as investors are able to participate in the innovative growth for public companies in the future, investing in the market is one of the best ways for investors to stay on track toward financial independence.
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Are you aware of your portfolio’s Price-to-Earnings ratio and why it matters?
In this podcast, John breaks down a recent snapshot of Nvidia since it’s stock has had a dramatic increase this year in price, which has led to a PE Ratio of over 200.
John shares a simple to understand analogy using a Lemonade Stand business so that investors can better understand what a PE Ratio is.
And be sure to tune in at the end, where John describes how investors should build their portfolios in today’s volatile market.
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Investors experienced a drop of about 10% in January 2022, the most in almost 2 years, causing many investors to wonder what the future holds and how to be positioned going forward.
On todays episode, John shares his insights on how to think about investing in the stock market, especially during times of high volatility.
He shares his mental framework for looking at the different economic cycles, and the corresponding market returns.
And in the end, John focuses on two of the most consequential factors in an investors journey:
1) Their mixture of stocks vs. bonds
and
2) How much they save and invest each month relative to their income in pursuit of achieving their long term financial independence
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Are you considering retiring early from your corporate job and want to be set up for success?
Theres an increasing demand for retirement planning given how the workplace has changed in this Covid environment, and it's leading many people to ask these questions: Can I retire early? Should I retire early? How can I take the next step towards retiring early?
On todays episode, John shares his insights on get to get up to speed and have clarity on the action steps you should take.
First, John talks about a helpful tip to understand your budget and spending pattern so you can use that as a reference to decide whether you have enough in savings or not.
Next, John talks about the discernment process of deciding whether you should retire.
And last, John describes the Bucket Strategy to better conceptualize how you could generate income from your portfolio.
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How are you tracking towards your financial goals in 2022?
On todays episode, John talks about a framework for articulating your goals and discovering the right action steps to take to achieve them.
John talks first about the framework of SMART goals. He then talks about a case study example of a family in their 50s with 3 goals that can be tweaked in order to become more actionable. Specifically, John talks about what if looks like to set up a savings target, how to gain clarity on your taxes, and how structure an investment portfolio for growth and safety.
In the end, there's so many distractions out there but most are beyond our control. Instead, John talks about having structure and clarity as the best way to work toward your financial goals this year.
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A common barrier to starting on the stewardship journey is simply knowing where to start. Often investors will wonder, "What should I do differently?"
On today's episode, John and Erica talk about how answering the question of how to get started actually begins with looking backward at your life story.
John comments that one of his favorite questions to ask in financial planning meetings is: "What was money like growing up?"
This helps kick start the process of reflecting on where you've been so that you have perspective on your current belief system of money and what trajectory you're currently headed on.
Erica opens up about her relationship with money going back to her childhood.
In the end, the best way to understand how you can start on the stewardship journey (acknowledging that God owns it all and therefore we are managers not owners) is to consider your background and family history.
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Are you concerned about sharing your estate plan with your family?
Maybe you’re worried about your children feeling entitled or developing bad habits. Maybe you’re concerned about disclosing private information.
Yet, what many families don’t consider is the risk that your children might fight over your estate due to lack of clarity and lack of communication about your wishes. An equally troubling scenario.
On today’s episode, John talks with attorney Stephen Lewis at the Mitchellweiler Law Corporation about estate planning and what it might look like to communicate your wishes early, and often.
John and Stephen discuss:
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What is an estate plan and why all adults (not just wealthy families) should consider an estate plan
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How and when to start having the family conversation
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Developing a stewardship mindset to training up your children and sharing wisdom with them prior to sharing wealth
In the end, the responsibility is on you to not just create an estate plan to take care of you while you’re living and once you pass away. But also to find a way to communicate it clearly to minimize the risks of family disputes.
To contact Stephen about your estate planning, email him at stephen@mlcattorneys.com.
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Cryptocurrency has been catching all of the buzz, so on today's episode, John talks with WorthPointe CEO Christopher Van Slyke about the dynamics of crypto.
Specifically, John asks Christopher: Is Cryptocurrency a fad or is it here to stay? What makes it so unique or so important? How should investors think about allocating to this asset class?
While some investors view cryptocurrency with skepticism, and others view it as if they might have missed out...at the end of the day, cryptocurrency is likely to have a dramatic impact on the way the world operates in the future.
As a disclaimer, this is for informational purposes only and not investment advice. You should consult with your own advisor regarding your situation.
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Are you a business owner or real estate investor that feels paralyzed by the potential looming tax bill you’ll pay when you sell your business or property?
On today's episode, John talks with Greg Reese, founder of Reef Point LLC about a proprietary tax deferral strategy called a Deferred Sales Trust, or DST.
A DST can allow for tax deferral of up to 10 years, allowing investors the flexibility to manage their income tax and allow for the money to be invested along the way.
Of course, this is a unique tool to be used in very specific situations, so be sure to consult your attorney, financial advisor and tax advisor along the way.
For more information on a DST, visit Greg’s site at: https://reefpointusa.com/
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On today’s episode, John and Erica talk about college saving strategies for young families with children under age 10.
College expenses can seem overwhelming for young families who feel like it’s hard enough to save and invest for every day expenses and plan for retirement.
During the episode, John explains the 529 college savings plan as well as his 3 part framework for tackling college savings.
The 3 part framework includes: Bucket 1) A 529 College Savings Account Bucket 2) Family money at the time of college Bucket 3) Non-family money at the time of college
At the end, John shares a hypothetical example of how young families can use this 3 bucket system to better organize and prioritize their educational costs and make their money work as efficiently as possible.
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As humans we are wired to be feel a polarizing sense of fear or greed when it comes to our money.
But for Christians, there is a simple yet profound shift that occurs by adopting the perspective that - God owns it all.
On today's episode, John talks about how his faith informs his perspective on money, and how other Christian investors can re-orient themselves around the posture of stewardship.
Some of the implications of a stewardship perspective include: A shift in responsibility A sense of humbleness and gratitude A sense of a accountability
Even for those who may not identify as Christians, simply shifting the perspective to a stewardship mentality can have a dramatic impact on how investors interact with their personal finances.
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On today's episode, John talks about how most investors seem to always be asking themselves a version of these 3 questions:
1) Where do I stand with my personal finances
2) Where am I headed and what are my goal
3) How can achieve my goals or experience financial independence
In 2020 investors faced one of the sharpest drops in the market in over a decade and millions of Americans lost their job. And now in 2021, the market has recovered it's losses and some are even talking about the next bubble! With so much uncertainty, it's easy to feel lost in the noise and unsure of where you stand financially or how to achieve financial independence.
But by using the financial planning system that John discusses on the show, investors can better orient themselves for where they stand and what actions they need to take now to stay focused on financial independence.
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What is the greatest gift that parents and grandparents can give to their family?
A gift much greater than anything money can buy.
That gift, is sharing your story!
The story of: How you grew up How your got started with your career and family How you overcame challenges and navigated life in order to get to where you are today
Research suggests the one of the most desired pieces of information that children and grandchildren want is to know the story of their parents and grandparents. And research further suggests that once children and grandchildren know theses stories, it has the potential to create a deeper sense of meaning and connection.
So what will be the legacy that you leave your family?
Get started today by recording short videos or writing journal entries about stories from your past.
Or you can reach out to me directly and I'll send you a free copy of one of my favorite Legacy Journals.
Email: thejohnchapmanshow@gmail.com
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What all is involved in creating a financial plan? On todays episode, John talks with cohost Erica about the 5 key steps of financial planning and how they uniquely fit together to help investors gain financial peace of mind.
The 5 steps include: Retirement Planning Investment Management Insurance Planning Estate Planning Tax Planning
Whether you're just starting out on journey or getting ready for retirement, having a financial plan that addresses your situation and considers how to grow and preserve your assets from all angels is critical.
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To kick things off for 2021, John talks with cohost Erica about the 3 Best and 3 Worst financial habits for investors. Especially in light of all of the wild events taking place in the stock market, it's critical now more than ever to be disciplined and prudent about how to set yourself up for success with your personal finances.
During the episode, John talks about what he sees as the 3 worst financial habits, which include: Taking advice from random people on social media Trying to play the investment lottery and get rich quick Believing that there's a secret or silver bullet to gaining wealth
Conversely, John talks about what he sees as the 3 best financial habits, which include: Writing down your goals in the categories of Faith, Family, and Finances and what you hope to accomplish in each category Creating a written financial plan that clearly states your annual savings target Staying humble and continuing to ask yourself 'what could I be missing'
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On today's episode John talks with Laura Roser, founder of Paragons Road and author of Your Meaning Legacy to talk about how to pass on non-financial assets.
During the episode Laura talks about: How to package and maintain some of your families most valuable non-financial assets through the use of pictures, letters, books and audio files The importance of having of having a family Mission Statement and significance of having family meetings The top 5 things people want to know about their grandparents
At the end, Laura also shares some notable research on the benefits of children learning their families story as a way to feel more grounded and find a deeper sense of meaning in life.
For more information on Laura, please check out website: https://paragonroad.com/ book: https://www.amazon.com/Your-Meaning-Legacy-Cultivate-Non-Financial-ebook/dp/B07BJCC5TL
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With the end of the year fast approaching, John talks with Kyle Casserino, Vice President, Charitable Planning Consultant at Fidelity Investments, about how and why to use a Donor Advised Fund as a strategic tool and as a way to simply giving.
During the episode they discuss: The mechanics of a Donor Advised Fund The opportunities to gift appreciated stocks, small business interest, or other assets in order to potentially receive a income tax deduction and avoid capital gains tax The process for online distributions to registered 501(C)(3)'s
For more information, check out https://www.fidelitycharitable.org/. Or connect to John directly at: https://www.thejohnchapmanshow.com.
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John talks with fellow WorthPointe advisor Matt Addington CFP® about Back Door Roth Conversions as a fellow up to Ep. 52 where Matt and John talked about Roth Conversions in general.
During the show, John talks about: The Why behind wanting to have a portion of an investors portfolio in a Roth IRA The mechanics of a Back Door Roth Conversion The major barriers that often disqualify investors and mistakes to look out for
At the end, Matt and John talk also about a Mega Back Door Roth strategy within an active 401k Plan.
Connect to John directly at: https://www.thejohnchapmanshow.com.
Disclaimer reminder that this is not tax advice and should be review with your financial planner and tax advisor
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John interviews David Blanchett, the Head of Retirement Research at Morningstar, to discuss how to generate retirement income.
With interest rates at historic lows and longevity expectations longer than ever, many retirees face the challenge of having to generate income from their investments for potentially 3 or 4 decades.
As a result, many researchers suggest incorporating an income annuity as part of the overall portfolios a way to balance all the various risks.
During the show, David talks about: The different types of annuities, such as accumulation vs. income annuities The benefits of risk pooling and mortality credits The psychological impact of spending down an investment portfolio vs. receiving guaranteed income How to think about layering annuities into an overall income plan
You can check out more about David here: https://www.morningstar.com/authors/1738/david-blanchett
Disclosure: this is not a recommendation for an annuity, but rather a fun and educational conversation so you can talk with your advisor and weigh the pros and cons.
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With a month to go until the 2020 Presidential election, many investors are wondering how the stock market might react and are concerned about how to be invested leading up to November.
On this weeks episode, John interviews WorthPointe's CEO Christopher Van Slyke for some helpful perspective on how to be invested amidst what feels like a volatile market.
During the episode Christopher and John talk about: How the Stock Market factors in all of the information from the news cycle How much of the market performance is impacted by the presidential outcome What history can tell us about how the market performs for various Presidents and their parties
Be sure to check out this helpful guide which is referenced during the show: https://bit.ly/3izd9fF
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Johns interviews Michael Finke, PhD and Professor at Texas Tech University and The American College of Financial Services about the challenges and opportunities for retirees today. With such low yields, increasing longevity and health care costs and potentially rises taxes, retirees faces a unique set of challenges, which can at times feel very daunting. Fortunately, given his extensive research, Michael shares a number of helpful insights for those looking to better invest and spend their money.
During the episode, Michael talks about: Income replacement rates, or how much a pre-retiree should actually be trying to accumulate based on their spending patterns in their working years Safe withdrawals rates for retirees so they balance spending money from their investments without running amount of money Retirement happiness and ways in which spending can increase or decrease our happiness throughout life
At the end, Michael also talks about how we should be vigilant about our aging parents, or even ourselves as we get older, since we often experience a lot of cognitive decline but rarely feel any loss of confidence in our old age.
A big thank you to Michael for joining John on the show!
For more information, you can check out https://www.theamericancollege.edu/our-people/faculty/michael-finke and https://www.thejohnchapmanshow.com/.
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John talks some of the most common myths that investors have when it comes to working with a financial advisor and managing a retirement plan.
During this episode, John talks about the 5 biggest myths, including:
1) A financial advisor will help me pick stocks to beat the market
2) I need to invest in dividend stocks so I can spend the dividends and keep the principal
3) My tax rate will be lower in retirement
4) I can easily self-insure for a long term care event
5) My situation is simple and doesn't require estate planning
In the end, John talks about his frame of reference on these topics, having worked with hundreds of clients of the past decade, and hopefully sheds light on these issues so you can think about them in a new way.
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John provides some context and background as to why so many companies have frozen their pensions and have opted for a pension lump sum offer to current and former employees.
In this episode, John shares some of his experience with clients over the past decade, and one story in particular that will make you cringe!
With so much on the line in deciding what option to take, John provides his 7 Step Checklist as a guide to help you better manage the pros and cons.
The 7 Steps Include: What is your timeframe to retirement? What is your health situation and longevity expectations? How much income do you need to sustain your lifestyle? How much in assets do you have saved? What is your risk tolerance and investment skill? What is the company's status? What are your family consideration?
Has your company offered a pension lump sum offer and are you wondering what the best option is?
Schedule a no obligation consultation with John here: https://calendly.com/johnchapmanwpwm/client-meeting-30-minutes
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John talks with local estate planning attorney, Darlynn Morgan at the Morgan Law Group, about the various aspects of estate planning and why it's so critical to put a plan together.
During the episode, Darlynn talks about a recent story about some of the gaps in Kobe Bryant's estate plan, and how that can inform all of us about how to and when to update our plans.
Darlynn also talks about what documents are involved, such as: A financial power of attorney An advanced health care directives And a Will vs. a Trust.
Be sure to listen till the end where Darlynn shows her own personal story about losing her first husband in her early 30s and how that impacted her career as an estate planner.
For more information, check out: http://morganlawgroup.com/
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John talks with his fellow financial advisor and WorthPointe coworker Matt Addington in the Dallas TX office about how to decide whether a Roth Conversion is an effective strategy in your retirement plan.
During the episode, John and Matt first share some insight into what exactly a Roth Conversion is, and how it's different from things like a Roth IRA contribution.
Matt also talks about weighing the risks and opportunities of paying taxes now vs. sometime in the future when tax rates could have changed.
Be sure to incorporate your tax advisor in this conversation since this is just education and not tax advice
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John talks with Medicare specialist Bob Bernardo about the top 3 most costly Medicare mistakes and how to avoid them.
In the episode Bob provides an overview of Medicare parts A, B, C and D, as well as the various supplemental Plans.
Bob also talks the process and timing of when to sign up for Medicare. And be sure to listen to the whole episode to learn how you can avoid any costly mistakes and maintain full coverage throughout your working and retirement years.
For more information, check out https://medicarebenefitadvisers.com/about.html
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John talks with Senior Care Authority founder Frank Samson about the 5 different categories of senior living care.
In the episode, Frank talks in depth about how important it is for families with an aging loved one to reach out to a professional as soon as possible to understand the various care options, instead of rushing to find a solution last minute, as is often the case.
Frank also talks about the differences, and pro's and con's for the following types of care: Independent Living Communities Assisted Living Memory Care Skilled Nursing Facilities In Home Care
At the end, Frank talks about how Medicaid or Medi-Cal can effect your options for senior care, and what the approximate out of pockets costs can be.
For more information or to schedule a consultation, be sure to check out https://www.seniorcareauthority.com/.
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John talks with attorney Jeff Love, who is a Partner at Gibbs Gidden law firm in Los Angeles, about the importance of a Buy-Sell agreement in a partnership or small business. Jeff talks about some of the unforeseen risks that can come up when a partnership doesn't have a Buy-Sell agreement in place. And he also talks about what all is included in the drafting process of the agreement and how you can get started today. For more information on Jeff Love, be sure to check out https://www.gibbsgiden.com/.
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John interviews Michael Vann, at the Vann Group, a strategic consultant that helps small and mid size businesses to build, maximize, and realize their full value. On this episode, Michael shares his insight into what it looks like for second or third generation family members to buy out a family run business. Michael shares the multiple stages of succession planning, and gives some advice for those who have opened "Pandora's Box," as he puts it. Be sure to check out their website or purchase Michaels new book on Amazon. Website: https://vann-group.com/ Book: https://www.amazon.com/Buying-Out-Boss-Successors-Succession/dp/1544511302
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This week we take a pause from personal finance to talk with an organization that is close to my heart - Free Wheelchair Mission. On this episode, I talk with Nuka Solomon, the CEO of Free Wheelchair Mission, to better understand their mission of providing the gift of mobility and how the logistics work from manufacturing to delivering wheelchairs to those in developing countries. Nuka also shares some stories about past recipients of wheelchairs and the significance it can have in their life. Be sure to check out their website, and tune into their annual Miracle of Mobility Event on July 23rd at 6pm Pacific. https://www.freewheelchairmission.org/
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In this episode, John interviews Nick Raithel, the creator of the 7 Hour Book, to talk about the opportunity corporate employees have to become indispensable within their organization. During the conversation, Nick talks about Seth Godin's book Linchin as the premise for the idea of being indispensable and how adapting that mindset is crucial within the modern work force. Nick also talks about who you should think about building a personal brand, what type of content you can create and why writing a book can be so influential. For more information on Nick and to learn about writing a book, check out http://contentcorps.net/.
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John talks with valuations expert, Trent Read, about the background of the 409A valuation and why it's so important. Trent talks about how often private companies need to go through the valuation process and how long it takes. They also talk about some of the confusion around employees not understanding the impact of their 409A value and how that impacts their private company stock. To learn more about going through a private company valuation, check out www.econpartners.com.
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John talks with asset protection attorney, Douglas Lodmell, about the reality of our litigious society and what's at stake for those who ignore asset protection as a part of their overall financial plan. Doug explains that asset protection isn't just for the super rich and provides a basic overview of various trusts can help provide protection from creditors. For more information on Doug, be sure to check out his website at https://www.lodmell.com.
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John talks with Darren Morrow, CPA and Founder of Morrow & Company, about the SBA Loans made available through the CARES Act of 2020. Darren talks about the differences between the Disaster Relief loans and the Paycheck Protection Plan loans. He also talks about the process of applying for the loans and how they can be utilized for small businesses. If you're a small business, Bbe sure to get with your tax professional ASAP to get a full explanation of your options!
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John talks with Christopher Van Slyke, CEO and Founder of WorthPointe, about how investors should be thinking if they sold after the massive volatility from the CoronaVirus. John shares some stats on how much money flowed out of the market during the bear market, and also what the research suggests about trying to time the market. Christopher also shares his thoughts on how to find an appropriate mix of investments that you can handle and how to get back in.
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If you've recently lost your job (or potentially will lose your job) as a result of the CoronaVirus pandemic, John shares 8 action items to take right now to get back on your feet and ensure you're staying financially secure. Given the historic jump in unemployment as a result of the pandemic, 1 in 10 working people are now out of job and that has had a dramatic effect and many families and communities. Be sure to check out this short, action packed episode to stay on track.
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John talks with Anthony Park, an attorney and professional executor in New York, about the process of settling an estate once a loved one passes away. Anthony explains how the probate process works and the difference between a Will and a Trust. Anthony also talks about some of the most important factors to consider when creating an estate plan and some major pitfalls to avoid.
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John talks with Marc Glickman, the CEO of Buddyins.com, which is an online community of Long Term Care experts providing education and insurance solutions. During the conversation Marc talks about his unique background as both an actuary with the insurance companies and later as a LTC insurance agent. Marc shares that an estimated 40 million Americans will be impacted with taken care of an elderly loved one and that most families have no plan in place to deal with aging family members and managing the cost of care. Marc also talks about how LTC policies work in practice and when you should consider getting insured. Be sure to check out his website www.buddyins.com to get in touch with a local agent who specializes in long term care.
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John talks with Kan Ta, Executive Partner at Binc, a recruiting firm serving many of the top tech companies in the Bay area with hiring the best candidates to build an amazing team. Kan talks about how successful job seekers "run toward" a new job, a opposed to "running away" from their old job. Kan also explores how to compare job opportunities at small and large companies, and evaluate the different equity compensation options. Kan finishes by talking about the shifting landscape for employers and job seekers in 2020 and beyond.
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After the worst trading week since 2008, John interviews WorthPointe's CEO, Christopher Van Slyke, to discuss the recent market events and the impact on investment portfolios. Christopher and John talk about the market history and past events that have rocked the market. They also talk about what actions you should consider with your investments and how that relates to achieving your longterm goals.
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Tax expert Jeff McNerney joins John to talk about demystifying some misconceptions about working with a CPA and highlights the importance of having an expert financial team. Jeff also talks about some challenges and opportunities for W2 employees and Small Business owners. They also briefly about gifting rules, inheritance taxes, and the power planning for the future.
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John speaks with disability insurance expert, Robert Clark, about his background and how his family was uniquely impacted by having disability insurance. Robert also talked about some of the basics for both corporate employees, and high income individuals on how they can protect themselves in case of disability. While it's easy to overlook this type of insurance, Robert captures why having disability insurance is absolutely critical in a financial plan.
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John interviews Robert Farrington, who runs the very popular website, CollegeInvestor.com, and is one of America's leading experts in understanding the full scope of student loan debt. On the show they talk about how we as a culture ended up at this point, with over $1.5 Trillion in student loan debt outstanding. Also, Robert shares some times for parents with kids who are thinking about college in the future and the strategies for understanding what money is available. As well as what post grads should do if they find themselves in a lot of student debt after college.
Episode Highlights: Robert Farrington talks about his background and why understanding student loans has been such a meaningful topic to him. How does Robert believe that we have arrived at this massive college loan debt problem? What are some dos and don’ts for parents that have kids preparing to pay for college? Set college financing expectations between parents and students early. What are some ways to pay for college before loans? College is an investment and we need to think of school as needing a return-on-investment. There are alternative education options for students for whom college may not be an appropriate option. Community colleges for the first two years can keep costs down. Robert Farrington talks about FAFSA application process for scholarships and grants. How should the average 25-30-year-old do to prioritize repaying their student loans? Repaying your student loans is the best thing you can do. Your income will get better. How should students approach the income-driven repayment plans? Take ownership over your college loan repayment strategy.
3 Key Points: There is almost $1.6 trillion dollars in college loan debt. Before taking out loans for college, first consider: parents saving, kids saving, college savings plans, scholarships, grants, work study programs and fellowships, Community college transfers are actually the highest graduation rate from a four-year college by like 10% more, with an almost 78% graduation rate.
Tweetable Quotes: “I started the College Investor when I was done with college. I really wanted to talk about investing and other money topics. But then I was one of these student loan borrowers that started having issues.” – Robert Farrington “As long as there is the ability to borrow limitless dollars to pay for college, colleges can raise the price to pay for things and pass that cost onto students.” – Robert Farrington “By the time they are in 9th or 10th grade, they should have a clear picture on what mom and dad are going to pay for college and what is expected of them.” – Robert Farrington
Resources Mentioned: Linkedin: John Chapman Robert Farrington: Linkedin The College Investor: thecollegeinvestor.com StudentLoans.gov: studentloans.gov LoanBuddy: loanbuddy.us
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John interviews Alexis Haselberger, a time management and productivity coach, to learn about her professional development, working in HR and operations to starting her own consulting business. We talked about her process for coaching individual clients, and she shares some best practices for getting organized and getting tasks completed. Do not miss today's episode!
Episode Highlights: Alexis Haselberger talks about her early career and her ability to manage time. What were her early ways of assisting others with time management? What type of education resources was Alexis taking advantage of? At what point did Alexis Haselberger build up the business side of her time management abilities? How does Alexis customize her training to individuals? What is an example of a type of client she has been able to help? How can we handle our distractions that can pull us away from work? The prioritizing system that Alexis recommends is platform system agnostic. She breaks down the power of capture, prioritize, act, and document. How does she build flexibility into their task management system? The stuff you got done today is more important than the stuff you didn’t get done. Have a realistic amount of time for taking breaks.
3 Key Points: Alexis starts individual training with getting to know who the person is as they already are. Then she customizes the training to that person incorporating the constraints and needs they have. When Alexis is working and is having an unrelated thought that could potentially take away her concentration, she writes it down with a checkbox next to it if it is a to-do item. The four steps to manage your time to get tasks done are: capture, prioritize, act, and document.
Tweetable Quotes: “Never work more than 40 hours a week because then they will expect it.” – Alexis Haselberger (Alexis Haselberger’s mother) “You are best at your work when you have time off, right? When we are working 16 hours a day, we are not actually very effective. I think the studies show that after about 6 hours or so, we are just not that effective.” – Alexis Haselberger “In my business, I have a couple of buckets. I have individual training. I have group coaching and then I have corporate workshops.” – Alexis Haselberger
Resources Mentioned: Linkedin: John Chapman Alexis Haselberger: Linkedin Alexis Haselberger’s Website
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John interviews Rocky Lalvani, Financial Coach at Richer Soul, Profit First Professional, Fractional CFO at Profit Comes First, Principal at Lalvani & Associates, Real Estate Investor at MLFRC, and Partner at RADFRC. Rocky Lalvani explains growing up in an immigrant family in New Jersey, how he got unstuck from an unfulfilling definition of success and began living life with a richer soul, mastermind groups, and ways to step up your networking game.
Episode Highlights: Rocky Lalvani shares where he grew up and what money was like in your household. What was it like being an immigrant growing up in New Jersey? What money-related conversations did Rocky overhear when he was young? Rocky Lalvani talks about having a T. Rowe Price account and chasing the American Dream. How did Rocky Lalvani transform to focusing on having a richer soul? How do you know that you are living your own definition of success? In what ways does Rocky encourage his children to know the options of career paths without being too forceful? What is a great way to network with people far ahead of your current career status? What does being a financial coach look like to Rocky? How do you narrow down your opportunities? When the values are clear the decisions are easy. What does an optimal situation look like for a good mastermind group? What would Rocky Lalvani say to someone that is pushing to build up their wealth?
3 Key Points: Automate your savings to build your financial portfolio. When teaching your children how to handle finances, give them the chance to fail. Every week reach out to people that are 5-10 levels ahead of you in your industry and pick their brains.
Tweetable Quotes: “I’m naturally thrifty. So, I negotiate everything. I save money. I got out of college with no debt. I figured out how to pay for college while going through college.” – Rocky Lalvani “If you expect your kids to be able to handle wealth, you have to teach them how to do that when they are young, and you teach them by giving them money and letting them make choices.” – Rocky Lalvani “Someone buys bigger, better and now you start to say, ‘I need bigger better,’ and you get on that whole hamster wheel. It just got to be crazy. What I wanted more so was freedom. Time freedom and financial freedom.” – Rocky Lalvani
Resources Mentioned: Linkedin: John Chapman Rocky Lalvani: Linkedin Richer Soul: richersoul.com Profit Comes First: profitcomesfirst.com
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John interviews Dr. Loretta Breuning, Founder of the Inner Mammal Institute, Author of Habits for a Happy Brain and The Science of Positivity. Dr. Loretta Breuning explains why humans are wired to promote survival over happiness, good and bad brain chemicals, breaking bad habits, and valuable advice on how not to take things for granted and understand how our inner mammal brain really works to live a happier life.
Episode Highlights: Dr. Loretta Breuning introduces herself. What are some of the prevailing thoughts that she once held to be true? What were some of her early days like in her work? Dr. Loretta Breuning shares ways we are wired to promote survival over happiness. What are some of the good and bad chemicals in our brain that we should be aware of and their effects? Why does Dr. Loretta Breuning call serotonin the ‘one up feelling?’ What do we do to ourselves when we don’t understand our own brain? What are endorphins, which are triggered by real pain? What does it take to break a bad habit to rewire our brain? Dr. Loretta Breuning shares ways to not taking things for granted.
3 Key Points: ‘Niceism’ is the idea that if you are nice to other people they will be nice to you...which is not true. We are designed to promote survival over happiness. A habit is the expectation of a reward and an expectation is a real physical pathway.
Tweetable Quotes: “I settled on the brain chemistry of animals because it was so surprising to me that our good feelings, our motivations, come from brain chemicals that are the same in animals and are managed by the same brain structures.” – Dr. Loretta Breuning “If you put on iron in the fire, then you know in 100 days you will have 100 irons in the fire. And everyday one of them will heat up but you can't predict which one.” – Dr. Loretta Breuning “We’re all wired by our past pain and what makes us different from animals is the human cortex can anticipate future consequences. So, anything that hurt us in the past, we anticipate that so we can avoid it.” – Dr. Loretta Breuning
Resources Mentioned: Linkedin: John Chapman Dr. Loretta Breuning: Linkedin | YouTube Inner Mammal Institute: innermammalinstitute.org Book: Habits for a Happy Brain by Dr. Loretta Breuning Book: The Science of Positivity by Dr. Loretta Breuning
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John interviews Alex Talcott, who is an adjunct professor of finance at the University of New Hampshire, a Managing Partner at Seacoast Financial Network, a real estate investor, and father of 3 young children. Alex and John discuss a range of topics from law, academics, personal finance and theology, so sit back and hold on to your seat while you enjoy this conversation.
Episode Highlights:
Alex Talcott talks about teaching finance and business law at the University of New Hampshire and Great Bay Community College, as well as his businesses. Where did Alex grow up and what was money like? How did Alex decide he wanted to pursue law? How did he pivot into financial services? What stands out about working with clients? Alex Talcott talks about his experience as being an adjunct professor. How much material is prepackaged for the classroom and how much is created by Alex? What areas does he find himself spending the most time on? What has it been like working with clients in the pre-retirement phase or the retirement phase? How has Alex learned to prioritize things in his life? How is he defining success for himself in the next 10 years?
3 Key Points:
Alex Talcott has noticed that some financial professionals in some places are selling products that they don’t fully understand. As an adjunct professor, Alex benefits from the saying, ‘teachers often learn the most in the classroom.’ Alex Talcott lets his students know that at an upwards of 50% of course content is going to be current events ripped from the headlines to put the students and himself on the spot about issues of the day before they are resolved.
Tweetable Quotes:
“I’m able to tell people that whenever you see me I’m where I want to be. So, I’m able to be fully present. There is nowhere I would rather be than on campus with my students and talking with a dear friend over the phone now.” – Alex Talcott “I think one of the untold stories about law school is that a lot of the work coming out of law school is insurance defense.” – Alex Talcott “I don’t like to taint what law and finance is about. It is mostly helping to facilitate communication and trust and moving forward and building wonderful things.” – Alex Talcott
Resources Mentioned: Linkedin: John Chapman Alex Talcott: Linkedin | Facebook Academic Approach to Finance: Alex.Talcott@unh.edu Seacoast Financial Network: Alex.Talcott@ampf.com Seacoast Financial Network: seacoastfinancialnetwork.com Seacoast Financial Network: AlexTalcott.com Real Estate: Lexdanre@gmail.com
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Host John Chapman of the John Chapman Show talks with Thomas Deschutter, CEO and Founder of Bloom Strategies, a financial strategy firm based in Vancouver, British Columbia, Canada. Thomas Deschutter discusses his background as a Rock drummer that led into a personal finance career. Thomas talks about the power of habits and his passion to help educate people by understanding themselves and their interactions with money and their beliefs, and how that all filters into their success or failure in their careers.
Episode Highlights: Where did Thomas Deschutte grow up and what was money like in house? How was Thomas affected at age 14 during his parent’s bankruptcy? How did Thomas become a drummer and what did it lead to? What was Thomas Deschutter’s evolution from a career in music to financial planning? Thomas talks about wanting to get married and start a family. What are Thomas Deschutter’s 5 Money Principles and how did he create them? What does Thomas mean by ‘Money Mirrors You?’ What is his methodology to structure our finances to switch from scarcity to abundance? What you want to accomplish and what you are actually doing aren’t always the same thing. Thomas shares his take on his belief that you are your most valuable asset. What does he do as soon as he wakes up in the morning? Focus fuels finance. Nobody is going to care more about your money more than you.
3 Key Points: Thomas Deschutte had a 9-month transition from not being happy in music to reading The Wealthy Barber book by David Chilton to deciding to open an Edward Jones office in Vancouver, British Columbia, Canada. Money mirrors you. You are your most valuable asset.
Tweetable Quotes: “I work with people. And as a musician, my skill-set in talking to people and sharing my heart and soul very much serves me today as an advisor.” – Thomas Deschutter “My best work is when I’m dealing with families and business owners because I understand their mindset and I am one of them.” – Thomas Deschutter “If I don’t think I’m going to succeed at it, I’m not going to.” – Thomas Deschutter
Resources Mentioned: Linkedin: John Chapman Thomas Deschutter: InstagramTwitter thomasdeschutter.com bloomstrategies.com The Bloom Living Podcast Book: The Wealthy Barber by David Chilton
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Host John Chapman of the John Chapman Show talks with Morgan Smith, Financial Advisor at WorthPointe Wealth Management. Morgan joins John in a valuable discussion about how to take care of elderly parents, settling their financial affairs and their estate, and how to take a proactive approach.
Episode Highlights: How did Morgan Smith come about becoming a financial advisor? What has Morgan Smith gone through in his life in the last 5-10 years? How old was Morgan’s dad when he developed dementia? What did Morgan’s estate look like prior to his dad’s health issues? At what point did Morgan have to get more involved in his parent’s estate? What are some of the things involved in settling a parent’s estate? What is the role of a private fiduciary or a corporate trustee? What is the emotional connection generally like to financial assets? Morgan Smith provides resources for estate planning. Get the courage to have the family meeting about estate planning.
3 Key Points: Figure out who is in charge of a parent’s estate. Private fiduciaries can file tax returns, gather investment statements, and assign investments over. Many people build assets that are difficult to divide such as a business or real estate.
Tweetable Quotes: “If you do good work, that niche comes to you and it can develop naturally.” – Morgan Smith “It’s one thing to have the trust in place. But you really got to understand and have access to things like durable power of attorney for healthcare directives.” – Morgan Smith (Preparing for parental decline in health) “Probably the best support is maybe reading a book. Talking to other people that have been through it, which is exactly why I am doing what I am doing.” – Morgan Smith
Resources Mentioned: Linkedin: John Chapman Morgan Smith: Linkedin Worthpointeinvest.com
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Host John Chapman of the John Chapman Show talks with Michael Eckstein, Certified Public Accountant (CPA). Michael shares how his practice shifted from a regular tax return business to more of an advisory business for small business owners. Some of the discussion points include outsourcing your weak points without trying to be a jack-of-all-trades, getting over the fear of increasing prices, and not being able to always sell your way out of major issues.
Episode Highlights: Where did Michael Eckstein grow up and what was money like in his house? How much about accounting was taught to him by his dad? What made Michael choose accounting? What was it like for Michael while working with his dad? When Michael first started it out, what types of clients was he helping? What does accounting from the advisory side look like? Which small business areas does Michael typically assist? Why do business professionals need to outsource more? Michael Eckstein shares how you can go about increasing your prices. How do businesses make sure that they don’t increase spending when they increase prices? How should business and personal expenses get balanced?
3 Key Points:
Michael’s clients are commonly service professionals like marketers, lawyers, and consultants, and contractors. The costs that are incurred when you refuse to outsource include: creating mistakes, overworking yourself, missing time with your family, holding yourself back from expanding in other areas, and preventing yourself from making money. Don’t cloud your personal and business reports and budgeting by using business money to pay for personal expenses.
Tweetable Quotes: (Growing up) “Money isn’t really something that was talked about. My dad is also an accountant. So on the one hand, it wasn’t really a topic you talk about at the dinner table, but it was somewhat present.” – Michael Eckstein “You can’t pass down a practice that isn’t growing.” – Michael Eckstein “That hour or two sitting with me asking me their business questions, it could be like, ‘What is your opinion on this website? But instead of doing that once a year, it is every single month.” – Michael Eckstein
Resources Mentioned: Linkedin: John Chapman Michael Eckstein: Linkedin ecksteinadvisory.com ecksteintaxservices.com 5 Simple Strategies to Strengthen Your Agency
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Host John Chapman of the John Chapman Show talks with Derek Bondo, Commercial Account Executive at Highspot in Seattle, Washington. Derek talks about his life in sales, from Nordstrom in shoe sales to Mercedes Benz, and eventually software sales. Get a behind the scenes look at managing personal finances, commissions, and variable cash flows.
Episode Highlights: Where did Derek Bondo grow up and what was money like in his house? How much did he learn about money from his mom or dad? What was Derek’s career like when he graduated from college? What was the Mercedes Benz sales environment like? What were the sales scorecards like in the car business? How aggressive is the sales culture in the car business? What was involved in Derek’s transition into software sales? In an all-commission job, how does Derek think about setting money aside? What is Derek’s personal preference on how much to save for an emergency fund? Is there an app or software product he recommends? How has Derek’s real estate benefited him? What things would he tell his younger self? Always be saving. How can knowing yourself make an impact on your finances? How does Derek Bondo define success?
3 Key Points: Working at legacy brands like Nordstrom and Mercedes Benz in the sales capacity gave Derek great insight into the importance of providing a positive customer experience and putting the customer first. Saving up several months worth of income in reserve provides comfort and the ability for lifestyle flexibility. Derek uses the Mint app. It shows your net wealth and savings from month to month.
Tweetable Quotes: “I was in sales even starting at the age of 18 officially.” – Derek Bondo “The economic downturn was kind of scary enough to get people thinking ‘the good times aren’t always going to be so good’.” – Derek Bondo “Staying at home when you are 25 is a great motivator to get moving and get your own place.” – Derek Bondo
Resources Mentioned: Linkedin: John Chapman Derek Bondo: Linkedin
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Host John Chapman of the John Chapman Show talks with Eric Sims, Executive Coach and Consultant to corporate teams, who helps teams experience a high level of success in performance, business and in life. Eric Sims shares stories from his background, how he turned his life around and reached achievements in the corporate world and in his own business, the reasons why it is very important to find out who you are and what you want, and ways to go about doing that.
Episode Highlights: Where did Eric grow up and what was money like in his house? Eric Sims discusses the challenges he experienced earlier in his life. What factors led to Eric making a change in his life? What does his coaching and consulting business look like? What gets in our way of becoming who we want to be? How does Eric approach assisting individual clients? What are some of the steps people can do to define who they really are? What resources does Eric recommend?
3 Key Points: Who we are and what we think we want is a process of our environmental influences, what we see in the media. Quite often, we allow those voices to impact our decision-making. If you don’t know who you are, somebody else will determine that for you. Who are you and what do you want?
Tweetable Quotes: “Personal development that I was picking up either through church, also through some of the recovery rooms about the alcohol stuff. There was a lot of principle-based stuff that I could look at in business.” – Eric Sims “A lot of people don’t take the time to get really clear on who they really are and what they want.” – Eric Sims “When you tell other people what you want to achieve, it’s fine. But understand, they aren’t going to respond exactly to it the same way you feel about it because it’s not their vision. It’s your vision.” – Eric Sims
Resources Mentioned: Linkedin: John Chapman Eric Sims: LinkedinFacebook IAmEricSims.com
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Host John Chapman of the John Chapman Show talks with Dave Lowell, fFounder of Up Your Money Game, a financial coaching firm. Dave talks about his contemporary style of assisting clients with personal finance. Also, Dave Lowell shares the 4 Money Scripts that are pervasive in our minds and affect the way we handle money and the real value in financial planning.
Episode Highlights: Dave Lowell talks about what money was like in his home when he was growing up. Did his parents verbalize frugality? How did he get interested in having a career in personal finances? What types of situations did he see early on regarding personal finances? How did his career progress after his Fidelity experience? What was the process of starting Up Your Money Game? How can different age groups deal with financial planners? What are the 4 Money Scripts? What impact does spending have on our future financial independence? Ask yourself, ‘Why do you want what you want?'
3 Key Points: Know why you are spending your money before you make financial choices. Classes of Financial Planners: Brokers that sell products, Assets Under Management (AUM) for a flat fee, Flat Fee for Planning Help without touching the client’s investments. The 4 Money Scripts: Money Avoidance, Money Worship, Money Status, and Money Vigilance.
Tweetable Quotes: “I learned a lot on the business side and I have always had a business mind. So, I loved learning about all the operations, setting up the processes, setting up the customer experience, marketing.” – Dave Lowell “We kind of know what we should do. We just don’t do it. Most of the time. I put financial advisors in that category. I have seen a number of financial advisors that don’t take their own advice.” – Dave Lowell “What a money script is, they are a subconscious beliefs that you have about money...and subconscience because they affect the way that you view the world.” – Dave Lowell
Resources Mentioned: Linkedin: John Chapman Linkedin: Dave Lowell Twitter: Dave Lowell Linkedin: Up Your Money Game
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John interviews author and financial coach - Debbie King. She is the owner of a firm called the ABCs of Personal Finance and helps people of all stages deal with debt. Debbi shares her intimate story of how she accumulated almost $200k in personal debt, before having her meltdown moment and deciding to turn everything around and pay it off in about 5 years. Debbi's story is inspiring and is a great resource for those educating themself in personal finance.
Episode Highlights: Debbie King talks about what money was like in her home when she was growing up. How did Debbi start accumulating debt? What life stage did she realize she was overspending and something had to change? How many years did it take to conquer her debt? What are the three books about personal finance that Debbi King wrote? By getting your kids to spend their own money will help teach them about priorities and not wasting money. Why don’t parents like to say no to their kids? Nothing in life is free. What advice does Debbie King recommend about personal finance?
3 Key Points: Debbi went to her mother, her grandmother, and the bible to get better money management habits. Debt is not the problem...debt is where the problem shows up. Personal finance is 90% emotion and 10% math.
Tweetable Quotes: “The only way you are going to change is by taking action and deciding you are going to do it. And getting mad enough that you are going to do it.” – Debbie King “It’s a matter of selling stuff and getting rid of stuff and just doing what you need to do..” – Debbie King “Personal finance is personal and what worked for me might not work for somebody else, and vice-versa.” – Debbie King
Resources Mentioned: Linkedin: John Chapman Linkedin: Debbi King Twitter: Debbi King Debbi King: debbiking.com ABC’s of Personal Finance: abcsofpersonalfinance.com Book: The ABC's of Personal Finance Workbook by Debbi King Book: 26 Weeks to Wealth and Financial Freedom by Debbi King Book: 50 Shades of Money: Answering the 50 Most Asked Questions About Money by
Debbi King
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John interviews Dan Hinz, a financial coach to newlyweds, helping guide them through conversations around money. Dan shares his expertise on the importance of writing down your values and goals, teaching couples how to effectively communicate, and coaching them through deciding who does what with the money in the household.
Episode Highlights: Dan Hinz talks about what money was like in his home when he was growing up. How did he envision his career as a money coach? How did Dan Hinz become a missionary on this subject? How did Dan and his wife get on the same page with their budget? Why is budgeting such a difficult subject? What types of conversations is he helping clients with? At what point in a couple’s despair do they typically come to Dan Hinz for his services? Dan talks about the ebooks that he has written. How should you have conversations around goal-setting and values? How often should people revisit their goals? Money can come in, out, and it can transfer. How can couples divide financial work?
3 Key Points: How we grew up with money affects our ideas about budgeting. Adulting With Money typically is a three-month process that focuses on newlyweds and helps them prevent money fights before they happen. Don’t point fingers when speaking about debt. Start by stating the scenario and how it personally makes you feel.
Tweetable Quotes: “I view financial advisers and financial planners as the doctors. They are definitely necessary and the money you pay them is well spent. For me, I am more like a personal trainer.” – Dan Hinz “Entrepreneurs: being either a mercenary, meaning hired help, or a missionary, someone that is really called to lead whatever the charge is.” – Dan Hinz “The only reason you want to budget is just to plan ahead and make sure money is going to the goals that you want.” – Dan Hinz
Resources Mentioned: Linkedin: John Chapman Linkedin: Dan Hinz YouTube: Adulting With Money Instagram: Adulting With Money Email: Dan@AdultingWithMoney.com
Adulting With Money: adultingwithmoney.com
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Host John Chapman of the John Chapman Show talks with Paul Moore, Real Estate Investor, Entrepreneur, and Podcast Host of How to Lose Money, who runs a real estate company called Wellings Capital. Paul opens up about his background in real estate, valuable tips on investing and risk tolerance. He also offers a compare and contrast on stocks, bonds, and real estate and how they can be used to in a proper financial plan.
Episode Highlights: Paul Moore shares his professional background. What is the difference between investing and speculating? What made Paul’s early success in his own words, ‘one of the worst versions of himself’? How much debt did Paul experience in the past and how did he get out of it? What is his life like as a real estate investor? How does he go about finding ‘recession-proof properties’? Why doesn’t high risk always equal high returns? What are some of the pros and cons of stocks, bonds, and real estate and how can they be used in a proper financial plan? What are some of the timeframe expectations for investing? When should you switch gears in your investments?
3 Key Points: Investors need to ask three questions: What is the upside? What is the downside? Can I live with that downside? From what Paul Moore has learned, the 2008 recession only lasted 15 weeks, which was the fourth quarter and a few weeks. In the last 7-8 years, apartment foreclosures have been virtually zero.
Tweetable Quotes: “Investing is when your principle is generally safe and you have a chance to make a return, and speculating is when your principal is not at all safe and you’ve got a chance to make a return.” – Paul Moore “If you keep playing double or nothing with all of your capital, you’ll end up with nothing at some point and you’ll have nothing left to double.” – Paul Moore “Paul Samuelson, the first Nobel Prize winner in economics from the U.S., said “Investing, true investing, should be more like watching paint dry or watching grass grow.” – Paul Moore
Resources Mentioned: Linkedin: John Chapman Linkedin: Paul Moore Wellings Capital: wellingscapital.com
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Host John Chapman of the John Chapman Show talks with Vieje Piauwasdy about the differences between incentive stock options and non-qualified stock options, grant date, vesting periods, exercising, and the tax consequences for employees of private companies.
Episode Highlights: Vieje shares his background and the company that he works for, a fintech startup called Secfi. What are some of the things that employees come to Vieje for regarding stock options? What is the difference between ISOs and NSOs? What would be the ideology to offer their employees What are the timeframes for employees for ISOs? What is the typical timeframe that employees have to exercise stock options? How do ISO and NSO taxes differ? What happens when the spread is much greater than the market value? Why is the idea of an early stock exercise something to consider after a vest date? If someone has exercised, bought the shares, paid the AMT tax bill, what are the other things for them to think about as far as tax implications? Vieje talks about NSOs, when they vest, and exercising them?
3 Key Points: There is a limit of $100,000 that you can offer as an ISO for American employees. When you leave a company, you have 90 days to exercise stock options or lose them completely. For the US, you are taxed when you exercise stock options.
Tweetable Quotes: “90% of my day is just helping employees with their stock options.” – Vieje Piauwasdy “People have an insane amount of stock options where, if you could pay $1 to get something that is worth $20 its a no-brainer. But, if you are looking at 100s of thousands of options, not a lot of people have that liquidity.” – Vieje Piauwasdy “The vesting date means when you actually own that (stock) option.” – Vieje Piauwasdy
Resources Mentioned: Vieje Piauwasdy Linkedin Secfi website John Chapman Linkedin
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Host John Chapman of the John Chapman Show talks about his three practical ideas around having company stock, whether it is in the form of stock options or RSUs, and how they affect your net worth. Learn how not to let having the majority of your future funds tied up in the vitality that can occur with company stock.
Episode Highlights: John Chapman opens up about the topic of having too much company stock. John creates a scenario about a married couple that both work with two young kids who bought a house in the suburbs. What are the three practical ideas regarding company stock? What does John Chapman mean by, ‘you are only as good as your salary?’ What does the high watermark theory refer to? Always assume that you only have 50% of the company stock that you have. Overlap an appropriate insurance and estate plan to your company stock situation. Why do you need to understand vesting timeframes? What is your flexibility with your stock money? Does your emergency fund have 3-6 months of cash-on-hand? What types of upcoming expenses do you have coming? What is your medium to long-term expenses? Don’t invest more than 20% of your net worth in one company.
3 Key Points: Keep your mindset in check. Combine an appropriate insurance and estate plan. Sit down with a financial planner to map out the vesting timeframes and decide what amount of stock you are going to sell and what amount you are going to hold.
Tweetable Quotes: “Personal financial is 90% personal and 10% finance.” – John Chapman “If your day-to-day lifestyle creep is going to get above and beyond your salary and it is going to start eating into your equity compensation, you are potentially going to run into a situation where you are mortgaging the future.” – John Chapman “If you want to live like no one else, live like no one else today. Meaning, stay tight, keep within your means. You are only as good as your salary. So that, you can live like no one else tomorrow.” – John Chapman
Resources Mentioned: Linkedin: John Chapman
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Host John Chapman of the John Chapman Show talks with Matt Perkins about his philosophy for sales that puts the customer first. Learn how to focus on the needs of customers through consultative sales and empathize with them authentically and incorporating expertise.
Episode Highlights: Where did Matt Perkins grow up and what was it like for him? When was his first encounter with the idea of sales? At what age did he realize he had his key moment to pursue sales? What was his sales experience while he was at the University of Washington? Matt explains the difference between transactional sales and consultative sales. What is the mindset of someone in consultative sales? What action steps should salespeople use to put customers first? Sales are based on being able to listen, empathy, expertise, and authenticity. Why is it so hard for us to be ourselves in sales? What is the idea of problem aware, solution aware, and you aware? How do we discern where the buyer is in their buyer’s journey? Are their ways to draw people in during their buyer’s journey? What advice does he have for people in a sales role?
3 Key Points: The transactional sale is someone having a need for something and someone selling it to them without much guidance prior to the purchase. The consultative sale is when the customer doesn’t quite know what they need and the salesperson consults them on how to solve their problem. Almost two-thirds of the economy in the United States is based on people liking to buy things.
Tweetable Quotes: “You need to be in service of others and you need to think about what is best for the person that you are speaking with.” – Matt Perkins “The best companies in the world are customer-centric, truly customer-centric.” – Matt Perkins “As a salesperson, a lot of the influences around us are not necessarily customer-centric.” – Matt Perkins
Resources Mentioned: Linkedin: John Chapman
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Host John Chapman of the John Chapman Show talks about financial literacy with Frankie Calkins, Email Marketing Manager at Bulletproof 360, Author, and Former Teacher at San Jose High School. Frankie shares insight on possible reasons why learning about proper financial habits haven’t been taught earlier in schools, what positive changes have been occurring, and ways parents can prepare their kids for better spending habits.
Episode Highlights: Who is Frankie Calkins as a teacher? How is he taught to teach his students in terms of structure? Is there some lack of incentive for financial literacy to be taught in schools? What has been the progress in teaching financial literacy since 2007? Where is financial literacy best slotted into the existing curriculum? Did he see that there is a specific age that is appropriate to engage kids on
financial literacy? What are some healthy tips to develop money skills? Saving, spending, and giving are the key things to master with money. Technology is adding new apps, tools, and resources for teaching kids
financial literacy.
3 Key Points: Frankie Calkin’s teaching experience spans grade 11 English, drama, and film studies. Kids are extremely impressionable. So, begin teaching strong financial savings habits with their allowances. Peer pressure is a bad way for kids to learn about money and spending.
Tweetable Quotes: “Fortunately, or unfortunately, a lot of it is teaching to the standards and so teachers have a lot of good insight going into it and into their training of what that state’s standards are for that grade and that subject.” – Frankie Calkins “You’ve just got to find ways to make it fun and express your own personality and get the kids interest. Because if you did just teach to the standards day in and day out it's going to get exhausting.” – Frankie Calkins “I think right now we are at about 20 states that do require financial literacy curriculum. Only one of which, I think it’s Utah, actually tests against standards.” – Frankie Calkins
Resources Mentioned: Linkedin: John Chapman Linkedin: Frankie Calkins Bloomberg article
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Host John Chapman of the John Chapman Show talks about how you can put your kids through college and advice relating to the 529 account, how you can use it in the future, and some practical savings and investing strategies.
Episode Highlights: John Chapman shares some startling stats about student loan debt. What is a 529 account? How can you use the 529 account for? What can’t you use the 529 for? How much money should you be putting in a 529 account? What ways could pay for college come from in the future? What if you have over contributed to a 529 account?
3 Key Points: In the past decade or so the price of higher education has been growing at a rate of over 8% compounded per year. The 529 account is essentially a Roth IRA for college expenses. You can use the 529 for tuition, books, supplies, and on-campus housing. You can’t use this money for transportation, repayment of student loans, studying abroad, smartphones, and extracurricular activities,
Tweetable Quotes: “In the state of California, today, in 2019, a private 4-year university can cost up to $50,000 per year, and that is just tuition and books alone.” – John Chapman “The average student today graduating has over $30,000 of student loan debt.” – John Chapman “There is over a trillion dollars in outstanding student loans in the United States, affecting more than 44 million people.” – John Chapman
Resources Mentioned:
● Linkedin: John Chapman
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Host John Chapman of the John Chapman Show talks about the ability to save $1 million. John dives into the various ways you can accumulate $1 million to live off of during your retirement years. Also, John Chapman analyzes these saving solutions with The Three T’s: timing, taxes, and the tools.
Episode Highlights: John Chapman discusses about the influence of Jake Dunlap, the CEO of Skaled Consulting. What are the various ways you can save $1 million? John talks about working with baby boomers. What would it take to save $1 million dollars in your bank account? When can you pull the money out and how will it be taxed? How can stock investments get you to $1 million with your non-retirement money? What calculations will get you to $1 million in equity with your investment real estate?
3 Key Points: Your hard work will likely produce $1 million in savings. You are likely to change jobs throughout your career. $1 million can be accumulated by real estate, a retirement account, 401k, IRA, deferred non-compensation plan, company stock, cash bonuses, and diversified mix of investments.
Tweetable Quotes: “Be a servant leader.” – John Chapman “Start with the end in mind.” – John Chapman (Financial planning) “There are 5 inputs that we need to have for this: our present value, future value, how much we are saving, our payment into it, what we are going to grow it at, our interest, and years.” – John Chapman
Resources Mentioned:
● Linkedin: John Chapman
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Host John Chapman of the John Chapman Show talks about the choices you can make as they pertain to your old 401ks. John will also help you understand IRAs, and compare the traditional IRA to the Roth IRA and what exactly a self-employed 401k is.
Episode Highlights: John Chapman introduces the show topic of the options for your old 401ks. What is your greatest asset? What are your options for your old 401k? What are the cons of your 401k options? What makes the IRA unique? How does the Solo 401k work and who uses them?
3 Key Points: You are your biggest asset so keep improving yourself and increase your ability to earn. Options for old 401ks include: keep it where it is at if it is over $5,000, roll it into your new company, roll it over to a traditional IRA account. The universe of ETFs are over 5,000 and common stocks have over 8,000 on US exchanges.
Tweetable Quotes: “I’m a huge advocate for you treating yourself with the care and attention and tenderness that you would an asset, like a piece of real estate.”– John Chapman “IRA accounts, they were signed into law with the Employee Retirement Income Security Act, commonly know ERISA.”– John Chapman “The universe of mutual funds is like 14,00 mutual funds. It’s huge.”– John Chapman
Resources Mentioned:
● Linkedin: John Chapman
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Host John Chapman of the John Chapman Show breaks down the history of 401k as well as the reasons why 401k are so important nowadays. He also talks about the 4 biggest mistakes people make and then shares tips for saving and building your 401k.
Episode Highlights: John Chapman introduces the show topic of 401k plans. What does the financial retirement landscape look like right now? What is the power of the 401k? How does a company match work? What are some of the biggest 401k mistakes? What should you know about taking a loan from your 401k plan? John Chapman offers important 401k suggestions.
3 Key Points: The first 401k was signed into law by Congress in 1978. According to the Department of Labor, there are $6 trillion dollars in 401k assets. The 401k is automatically deducted from your paycheck and it is tax-deferred.
Tweetable Quotes: “‘The total retirement money landscape right now is $28 trillion.”– John Chapman “You have to save and invest. You can’t count on a penchant unless you work for the government.”– John Chapman “Social security? Sure, it might be there, it will probably be there for our parents. But for us (millennials)? Just not something to count on.”– John Chapman
Resources Mentioned:
● Linkedin: John Chapman
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Host John Chapman of the John Chapman Show talks to listeners about the different levels of job changes and the impact on your company stock and equity that can occur. John goes over four different job stages: the new job, the job promotion, the job transition, and the job elimination. He also provides hypothetical workplace situations to enable you to visualize how stock options get impacted and possible action plans to take.
Episode Highlights: John Chapman introduces the show topic of job changes and managing equity. Don’t worry about what is not within your control. What should you do when you get a new job? When you get a job promotion at your company, what adjustments should you make? Be aware of the concentration of risk and the financial fluctuations of your company stock. How can job transitions affect an employee’s company stock and equity? In what ways can your company stock and equity get altered by a job elimination?
3 Key Points: When you start a new job you should find a mentor, schedule a call with HR and benefits department, and get in touch with the financial custodian. Coordinate with a financial planner about how you are allocating dollars to short-term and long-term goals. The different types of job transitions include mergers, acquisitions, and a take private.
Tweetable Quotes: “‘I want to remind everyone, myself included, about staying focused on those things that are within our control, as opposed to the things that are outside of our control.”– John Chapman “If you are not going to keep a detailed budget of how you are spending your money, the one category I would want for you to focus on is the ratio of your savings as a percentage of your total income.”– John Chapman “Understand the vesting timeline for your RSUs or stock options, whatever they are.”– John Chapman
Resources Mentioned: Linkedin: John Chapman
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Host John Chapman of the John Chapman Show talks to listeners about the Intrapreneur Wealth Building Tool Kit that includes four different tools. If you are getting equity compensation, handling tax-planning, dealing with insurance, and are making retirement considerations, these four methods of wealth-building are key to understand.
Episode Highlights: John Chapman introduces the Intrapreneur Wealth Building Tool Kit. What is the wealth-building curve like for intrapreneurs? What has happened to pensions? How does a Health Savings Account work? John explains the intricacies of Employee Stock Purchase Plans. What is involved in Restricted Stock Units? The Roth 401k is a benefit that not every employee has access to. What is the difference between a Roth IRA and a Roth 401k?
3 Key Points: The burden of wealth-building is completely on your shoulders. The four tools of the Intrapreneur Wealth Building Tool Kit are: Health
Savings Account (HSA), Employee Stock Purchase Plan (ESPP), Restricted
Stock Unit (RSU), and the Roth 401k. Restricted Stock Units allow you to not have to save out of your own paycheck and it is completely granted from the company.
Tweetable Quotes: “‘Your life is a blank slate and you are going to be able to save and invest the way that you want to and really build and create an amazing life. Equity compensation gives you a lot of puzzle pieces to work with.”– John Chapman “HSAs, are only available, as you know, for high deductible plans.”– John Chapman “ESPP, Employee Stock Purchase Plan. This is only available for folks that work at a publicly traded company. But, its hands down probably the most common type of equity compensation.”– John Chapman
Resources Mentioned: Linkedin: John Chapman
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Host John Chapman of the John Chapman Show provides listeners with an informative history of the financial services industry. If you were an investor over the last 50 years all the way up to today. This discussion covers who you were dealing with and how you were dealing with them in terms of how you were saving your money.
Episode Highlights: What are the two major stock exchanges? What years were the two major stock exchanges established? When you read the news, what are the three most typical indexes that are quoted or referenced? Which of the two exchanges is also an index? Which index is cap-weighted (capitalization-weighted) and which index is price-weighted? If you were 30 in 1970 with $10,000-$100,000 to invest, who were you investing with and how were you investing? Why is ‘stockbroker’ no longer relevant term? What was involved in the era of mutual funds? The internet and technology took hold in the 1990s, opening up for discount brokers. What brought on the reign of the financial advisors that replaced the stockbroker in the 2000s? The robo advisor began after the 2008 financial crash? What are the four main providers in financial services? John Chapman shares the answers to the previous trivia questions
3 Key Points: Eight years at Merrill Lynch and Fidelity Investments taught John Chapman what investing was like for the ‘baby boomer’ generation before him over the last 50 years. The value that financial advisors can add includes planning for future goals, avoiding pitfalls, staying diversified, and having a confidant to trust. The four main providers in financial services are insurance companies, banks with wealth development divisions, current discount brokers, and a registered investment advisor.
Tweetable Quotes: “‘Pension’ just simply means a paycheck to you after you are no longer working, and it’s usually a portion of your paycheck .”– John Chapman “The best way to stay diversified is through a mutual fund. This is where a company would package up hundreds, maybe thousands of stocks.”– John Chapman “The financial planner for today is so much more akin to a doctor or pediatrician.”– John Chapman
Resources Mentioned: Linkedin: John Chapman
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Alec Maghami talks with host John Chapman of the John Chapman Show about all the things you should know about purchasing an investment property. Alec explains the differences in buying real estate on the investing side versus a single family home, how every building has a story, the three different valuation metrics that institutional buyers use to calculate how much a property is worth, as well as the answers to debt-to-equity questions.
Episode Highlights: Alec Maghami talks about his path to real estate. How did Alec transition into the acquisition side? Which sectors and asset classes does Alec Maghami enjoy the most? If someone has a burning desire to make an investment in a property, what should they be thinking about? Alec Maghami discusses the valuation metrics that differ when buying your home versus a pure investment property? How does Alec define a liquid market? What about debt-to-equity as a ratio should we generally be aware of? What are some of the unexpected costs associated with investment real estate? Which other things does Alec Maghami think we should consider with investment properties?
3 Key Points: We live real estate every day, it is a land + improvement. The three main valuation methodologies are sales comparison, income capitalization, and replacement costs. Some of the additional costs involved in real estate investment properties include Insurance, taxes, utilities, HOA dues, and the fact that real estate is not passive, it needs to be managed.
Tweetable Quotes: “Office buildings always have the potential to be super sexy when we think of the constant real estate deal.”– Alec Maghami “The path to real wealth and intergenerational wealth is passive income.”– Alec Maghami “The idea of liquidity fundamentally is how big is the buyer pool out there to the extent that if you needed to sell the asset you could sell to.”– Alec Maghami
Resources Mentioned: Linkedin: John Chapman Alec Maghami: Linkedin
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Frankie Calkins, D talks with host John Chapman of the John Chapman Show about consumer debt and how he faced his fears to climb out of it. Frankie also delves into the process of how he approached creating his book “The Money Resolution,” self-publishing it, and turning the whole thing around in only six months.
Episode Highlights: How did Frankie Calkins’ personal experiences with student loan debt and consumer debt begin? How did Frankie begin sharing his debt issues with others? What are examples of quick wins that Frankie Calkins experienced when turning his debt around? When did the process of book writing come into Frankie’s mind? What did Frankie Calkins learn about self-publishing? How did Frankie go about formatting the books and adding images? What does the length of the book have to do with cutting into the author’s royalties? What other books does Frankie Calkins have in him? What are some notable takeaways that Frankie has to share from the book?” Frankie Calkins describes the rule of 72. What advice would Frankie Calkins give to her younger self?
3 Key Points: A lot of the fear and embarrassment of debt comes from falsely assuming that no one else is dealing with it. Great families start with planning. Becoming an author can transform your feeling of yourself being a taker to becoming a giver.
Tweetable Quotes: “Money is such a taboo topic and we just don’t talk about it. We don’t even talk about it with our closest loved ones.”– Frankie Calkins (As an author) “I have yet to hear one negative thing, and I hear that is like something I have to go through.” – Frankie Calkins “Learning about compound interest and how it can work in your favor. That was the biggest mind-blowing moment of the year.” – Frankie Calkins
Resources Mentioned: Linkedin: John Chapman Frankie Calkins: Instagram Book: “The Money Resolution” by Frankie Calkins
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Matthew Chapman, Director of Investments (West Region) at Link Industrial Properties and Senior Vice President at Talos Capital talks with his brother and host John Chapman of the John Chapman Show about investing in industrial real estate. Learn from Matthew about private equity funds, asset allocation, off-market deals, and how changes in retail buying patterns are affecting commercial real estate.
Episode Highlights: What is Matthew Chapman’s job like in industrial real estate and sovereign wealth funds? How do private equity funds work? What is a minimum investment amount that Matthew works with? Does he get an idea of what the asset allocation amount is in advance of investments? What does Matthew Chapman look for on behalf of clients when seeking out assets? Are there sites like Zillow that apply to industrial real estate? What percentage of his business has come from a personal contact from a broker? The majority of the deals that Matthew Chapman has cleared have been off-market deals. What kinds of changes are occurring within retail real estate?
3 Key Points: Usually, big investment groups try to find the appropriate risk and return equilibrium for their underlying shareholders as they take into account their future obligations. Investment execution requires identifying and completing the acquisition and the operation, cash flow generation, and creating some appreciation out of the asset. For real estate allocation, Matthew considers location, cost to replace the asset, and what is the value of the income stream.
Tweetable Quotes: “For an institution investor, they are interested in deploying capital in an efficient manner, and that means they are cognizant of the capital cost of the equity, the friction to deploy the capital, inclusive of human capital .”– Matthew Chapman “The way that a lot of downtown office buildings price is that they don’t actually price with a huge amount of income as a portion of the total investment.’ – Matthew Chapman “There is a huge amount of travel involved just to make sure you can go out and you can understand the value of how the real estate actually functions, as far as the tenants and within the marketplace in which it resides.” – Matthew Chapman
Resources Mentioned: Linkedin: John Chapman Linkedin: Matthew Chapman
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Natalie Shaw, Licensed Real Estate Professional at Pacific Sotheby's International Realty, talks with host John Chapman of the John Chapman Show about how to prepare to buy real estate. Natalie also explains how to “date a neighborhood” you might want to buy in, the preapproval process, negotiations, the importance of working with a real estate agent, and the costs you should be aware of in advance.
Episode Highlights: How is the buying and selling market looking in Spring 2019 in Orange County? Where and how long has Natalie Shaw been a real estate agent? If a couple is looking to buy their first home, how should they prepare? What types of financial institutions should first-timers go to for mortgage loans? What are the common steps to looking for a home? What is the standard time-frame for closing on a house? Why should you spend plenty of time looking for properties? What are some of the pitfalls to avoid when looking at properties? Isn’t it an awkward situation if an agent represents both the buyer and the seller? What are the common commission percentages? What does Natalie recommend when scouting out a future neighborhood? How early in the process should you engage with a real estate agent? Has Natalie had clients that took over a year to decide on a home? What is a good benchmark for how long people tend to stay in their first home? What does a real estate agent have to do to help clients deal with their emotions? How can you estimate the amount you should save for repairs in the first year? What is involved in doing thorough inspections? What are the different contingencies that are involved in closings? Which final things does Natalie Shaw recommend before buying a home?
3 Key Points: Loan brokers will ask potential homeowners for past tax documentation and credit reports to generate a pre-approval letter that maps out what price point they can purchase it. For a standard purchase with a loan, a good time-frame is 30-45 days. Look at as many properties as possible to build a strong relationship with your realtor and to narrow down what you like.
Tweetable Quotes: “If I was working with a couple who was interested in purchasing a home, the first thing I would recommend they do is to meet with a loan broker.”– Natalie Shaw “When you are going through the process of looking at different properties and you find one that you just absolutely fall in love with, It’s best to go in with the strongest offer possible.” – Natalie Shaw “You don’t pay any of the commissions. The seller of the property will pay the commission to the listing agent and to the buyer’s agent.” – Natalie Shaw
Resources Mentioned: Linkedin: John Chapman Linkedin: Natalie Shaw
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Vieje Piauwasdy, Head of Tax Advisory at Secfi, a company helping employees and shareholders of late-stage technology companies handle wealth options, talks with host John Chapman of the John Chapman Show about his experience growing up in a household with a father who is an entrepreneur, what his life was liking working for a Big Four accounting firm in New York City, and returning back to his hometown of San Francisco to be in charge of tax advisory at Secfi.
Episode Highlights: What was money like in Piauwasdy’s household? Vieje Piauwasdy’s father was an entrepreneur. Vieje What did Vieje learn about entrepreneurship from his father? What kind of part-time work did he do for his father’s business? Where did Vieje Piauwasdy go to college and what did he study? How did a college professor have a big impact on his life? What was his first job out of school? What was the turnover rate like in his office? Who were the clients and projects he worked on when he was consulting? How did he get situated with SecfI? What should you be thinking about when a private company offers you equity? What is the most common vesting period for a start-up company? What can Secfi offer their clients? Many people haven’t thought about their stock options.
3 Key Points:
The most common vesting schedule in tech companies is a 4-year vesting period with a 1-year cliff. Employees aren’t going to realize any value from their shares until the company is acquired, there is an IPO, or a secondary listing. Typically, when you leave a company your shares lose their value for 90 days.
Tweetable Quotes: “A lot of people go into accounting, whether it is audit, or tax, or advisory because it’s a pretty good paying job out of school.”– Vieje Piauwasdy “What’s great about an organization like a Big Four accounting firm is the fact that if you don’t like what you are doing, there is something else out there.” – ViejePiauwasdy “In the private company world, equity compensation is king.” – Vieje Piauwasdy
Resources Mentioned: Linkedin: John Chapman Linkedin: Vieje Piauwasdy
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Brooks de Peyster, Public Defender, Senior Associate at Archer Price, talks with host John Chapman of the John Chapman Show about all the roads of education and experience that led him to the courthouse as an attorney. Learn what it was like for Brooks entering the legal profession during the aftermath of the recession, his hard work and hard grind as a criminal defense lawyer, and how to preferably develop a relationship with an attorney.
Episode Highlights: What got Brooks de Peyster interested in practicing law? Did Brooks have legal mentors early on? What was involved in Brooks DePyster’s law school experience? How did the recession affect attorney jobs after college? How did he narrow down the part of law he wanted to pursue? How did Brooks handle working in criminal law? What is the ‘meat grinder’ hard work grind typically like in law early in a career? What has Brooks had to learn in the business side of law? What is involved in setting up a trust account for legal services? How should business owners think about working with attorneys? Should we look at attorney relationships as an ongoing interaction? Weddings and buying a home should be viewed through the lens of a business transaction. What is Brooks de Peyster currently excited about as far as wealth building?
3 Key Points: During the two years that Brooks de Peyster was with the public defender’s office he did 12 jury trials and over 150 bench trials for contested hearings. You have to build a relationship with an attorney you can trust with honest, clear communication to prevent issues from happening in the future. You help someone out for free with a basic question, then when they have real work, they will be more likely to come back.
Tweetable Quotes: “You have to be tenacious if you want to make it. You can’t just arrive out with your degree and expect someone to hire you. You’re never going to make it that way.”– Brooks de Peyster “I ended up doing criminal defense and absolutely fell in love with it.” – Brooks de Peyster “If we don’t treat the worst fairly, it can creep up, and we’ve seen it in history, we’ve seen it even around the country.” – Brooks de Peyster
Resources Mentioned: Linkedin: John Chapman Linkedin: Brooks de Peyster
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Chris Calkin, Director of Sales at CircleCI talks with host John Chapman of the John Chapman Show about his experience in acquiring jobs in the software and tech space. Chris not only shares his past formative education and work experiences, but also provides best practices for moving up your career ladder, and also how to manage spending and savings.
Episode Highlights: Chris Calkin shares his background and how money was in his household. Does Chris identify as a saver or a spender? How did Chris recognize the importance of not wasting money? Where is the line between learning the hard way and following good advice? Chris shares a memorable story about a supposed internship in England. How did Chris move to San Francisco and get involved in tech? What was Chris Calkin’s experience like in business school? What were the factors involved into making his choice to work in tech? How has being married changed the way he thinks about his career? How many of Chris’s colleagues successfully received equity in Silicon Valley start-ups? How long has Chris been working his job post-MBA? What is Chris’ advice for picking the ideal job? Which questions you ask to show how good you will perform in your job role. What does Chris envision for himself in the future? What makes a successful sales person?
3 Key Points: Talk to someone older than you that you think is successful and get advice from them. Chris Calkin doesn’t recommend jumping right into your MBA without work experience first. Join the right company and get behind the right products and leadership that fit you. You will builder stronger relationships and you will feel more inspired to succeed.
Tweetable Quotes: “Someone can give you very sage advice. But ultimately, are you in a position to be receptive to that advice and actually act on that advice?” – Chris Calkin “I very much so enjoyed working in software and working in technology. And I was fairly confident that I wanted to continue to be in that space.” – Chris Calkin “I’ve probably hired just over 30 people between account executives and sales development roles” – Chris Calkin
Resources Mentioned: Linkedin: John Chapman Linkedin: Chris Calkin
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Chris Wood, Managing Director of theRecruitingCollective, a recruiting and staffing company, talks with host John Chapman of the John Chapman Show about how to maneuver in through the ever-changing employment seeking process. This beneficial conversation with Chris Wood covers several related topics such as best practices for utilizing Linkedin for networking within your industry and polishing your resume to garner attention.
Episode Highlights: Chris Wood shares where he grew up and how he got his career start. How does Chris define recruiting? Who does Chris Wood typically service? Chris Wood’s recruiting career began in 2006. What was recruitment like when the 2008 recession hit? What was the ‘lightbulb moment’ for Chris that lead to full commitment to theRecruitingCollective? What should employees do to be proactive to move up in their career? Does leap-frogging of turnover scare employers? What is a good methodology for a resume these days? How should someone interact with a recruiter? Is there a lack of loyalty to be hunting for job opportunities when you have a job? Is it effective for companies to try to appear to be a cool place to work? What are popular lifestyle perks at jobs? What dynamics are different now between employers and employees? Chris firmly believes in getting to know people in your industry.
3 Key Points: Climbing the corporate ladder at one company has turned into leap-frogging from company to company to hold higher roles. The question of ‘Where do you see yourself in five years?’ has changed to ‘Where do you see yourself in 12 months?’ Always be building and developing your job pipeline, even before you need a job.
Tweetable Quotes: “I foremost help corporations find people necessary to help them with their goals.” – Chris Wood “I work with individuals seeking employment to help them find their verticals.” – Chris Wood “I found out in a down economy recruiters are a top 10 job to have.” – Chris Wood
Resources Mentioned: Linkedin: John Chapman Linkedin: Chris Wood therecruitingcollective.com
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The John Chapman show is your source for retirement readiness, strategies to help you potentially minimize taxes, invest wisely, and get the most from life with the money you do have.
The stakes are high for those age 50 and over who desire financial independence, since its arguably never been more harder to achieve in our modern world due to longevity, low interest rates, taxes on the rise and massively underfunded retirement plans.
In light of it, how are you ensuring the financial security for your family?
With more than a decade of experience in wealth management, host, John Chapman, is a CFP® and Partner at WorthPointe, a boutique wealth management firm helping clients gain financial peace of mind.
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In this episode of the John Chapman Show, John interviews Christopher Van Slyke.
Christopher is the CEO & Founder of Worthpoint Wealth Management. He shares about his upbringing, his journey into the financial planning industry, and transition into a business owner.
Episode Highlights: Christopher shares about where he is now, and the fact that it "didn't happen overnight." He shares about his upbringing and the journey into the financial planning industry. Christopher talks about his unique path of entrepreneurship. He discusses the "management of money" in his upbringing and how that played into his career path. The difference between a "broker" and "advisor." Christopher shares insight into his beginning as an advisor, who he worked with, and the challenges to overcome. He shares THE Moment when the light came on about being a business owner. Christopher gives insight into what it took to move from doing everything, to doing a few things well. Christopher gives us 2 key things to be aware of in the financial industry. What's next for Christopher's business.
3 Key Points: Stop looking for people like yourself, and look for people that can do all the things you don't have. Disciplined, long-term investing works, and it exists. See the power of looking 20 years down the road, and think about what we need to do today to make that happen.
Tweetable Quotes: “Don't get into a business where you're trading your time for money.” – Christopher Van Slyke “I'm not good at 98% of what goes on in our company, so what are those 2% things that I'm good at.” – Christopher Van Slyke “High return, low risk investments don't exist.” – Christopher Van Slyke “The greatest gift this business has given me, is that I got to learn about people's mistakes, successes, and dreaming big.” – Christopher Van Slyke "If you have things you want to do, start right now doing the things required to get you there." - Christopher Van Slyke
Resources Mentioned: "The E-Myth": Michael Gerber The John Chapman Show Website John Chapman LinkedIn
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