In this episode, Dave is going to discuss what being in the middle looks like - financially speaking, and then shares suggestions that you can implement into your life to be better than average.

Being average in America is all too common.

We quickly spend as much as we make, and lifestyle inflation creeps in when we do end up making more money. The point of this podcast and our hope for you is to become better than average.

Here, Dave discusses the 10 key things that hold people back and which keep them stuck in average.

As with every podcast, Dave gives some practical tips to become better than average.

Take what you hear and apply it to your life so that you can win with money!

Take these ‘suggestions’ seriously. Begin this week to practice some of these ideas and you will win with money.

Questions for Review:

• Do you consider yourself average financially speaking?
• Do you have enough money in the bank account to cover a financial emergency?
• What 1 thing from the episode can you do to get outside your comfort zone and become better than average?

Verse From the Episode: "Whoever despises the word brings destruction on himself, but he who reveres the commandment will be rewarded." -Proverbs 13:13

Now these 10 things that are shared should be taken as a whole.

In other words, if you apply several of these ideas, you can get to the savings goal you want to reach. 

Most are little things that when taken as a whole will allow you to win... And, there’s even a couple that if you apply it you can save even much more than the $400 monthly.

So let’s get started!

Questions for Review:

• After listening to the episode, does saving $400 a month sound doable to you?
• How would your life change if you were able to save at least $400/month?
• What 1 of the 10 ideas can you go out and implement today?

Verse From the Episode: "As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. They are to do good, to be rich in good works, to be generous and ready to share, thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life." - 1 Timothy 6:17-19

Now that’s worth listening to right?

I don’t know of anyone who wants to pay more in taxes than they have to. The 1031 exchange is an incredible way to defer your taxes, and in some cases never pay taxes on your appreciation of the assets that you own.

The long-term savings can be HUGE.

Throughout your lifetime, as you accumulate properties, you can upgrade them significantly and completely defer or never pay tax on them!

Questions for Review:

• Do you now feel like you better understand what a 1031 exchange is?
• How can using a 1031 exchange allow you to build wealth over time?
• Is a 1031 exchange something you feel like you can personally take advantage of?

Verse From the Episode: "The rich rule over the poor, and the borrower is a slave to the lender." -Proverbs 22:7

Good debt is viewed as taking on debt that benefits your life.

This debt is a way to create wealth by leverage… a mortgage for a house will build equity, for example. 

Bad debt, on the other hand, does just the opposite. It’s a burden, a weight on your shoulders, and unlike most home purchases, bad debt almost always goes down in value over time.

Good debt is a type of debt that can potentially provide long-term financial gains and enhance your overall financial situation.

It typically involves borrowing money for investments or purchases that have the potential to increase in value (key to winning with money) or generate income over time.

That said, it's crucial to manage debt responsibly and within your means to avoid financial stress or negative consequences.

Questions for Review:

• Do you have any "good" debt?
• In what ways can you look at your future differently by looking at debt as both good and bad? 

Verse From the Episode: “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?” -Luke 14:28

This suggests that as people's incomes rise, they often tend to increase their spending on non-essential items and experiences, leaving them financially vulnerable in the face of unexpected financial challenges.

In this episode, Dave will be sharing some examples and, more importantly, how to NOT get caught up in lifestyle inflation.

Lifestyle inflation, also known as "lifestyle creep" is a phenomenon where an individual's spending gradually increases as their income rises. 

It can have significant negative effects on your long-term financial well-being.

Trust me, the longer you spend more than you make, the longer it will be before you retire.

Honestly, lifestyle inflation or lifestyle creep is common to most people. But YOU are NOT most people.

YOU are unique, ONE of a KIND.

Starting today, be different in this one regard, be different with your money...

That includes living below your means and not following the crowd in your personal finances. If you do that you’re going to succeed with money.

Questions for Review:

• Have you suffered from lifestyle inflation as you've started to earn more money?
• Do you spend more than you make? If so, please think twice before making that next big purchase.
• How can you live life enjoying your resources without spending more than you make?

Verse From the Episode: "A faithful man will abound with blessings, but whoever hastens to be rich will not go unpunished." -Proverbs 28:20

He almost made it to 100!

In this Podcast, Dave shares 8 practical tips from the famed investor Charlie Munger.

Munger was both straightforward and brilliant at the same time. We can ALL learn a thing or two about money from this wise man.

Even though Munger had reached billionaire status and was a longtime friend and coworker of Warren Buffet, Munger still maintained a frugal, down-to-earth lifestyle.

Listen in as you will learn a lot from Munger in this exciting episode.

Questions for Review:

• What of the 8 ways to win with money did you find most applicable to you?
• What of the 8 ways are most difficult for you?
• Apply one new thing from the episode this week.

Verse From the Episode: "Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal." -Matthew 6:19-20

How many of these 8 habits do you follow?

Listen in and see how many of these 8 habits you currently possess and see if there are any others that you can begin implementing to start improving your life.

As you begin to follow these 8 daily habits your life will start to change in a positive way. It won't happen overnight, but little by little you will be chipping away at the things that are holding you back from success.

Likewise, building good money management habits can significantly impact your financial well-being and help you work towards winning with money.

Lastly, by looking at the big picture in regard to your overall quality of life, you just might find that your finances will follow suit.

Questions for Review:

• After listening to the 8 key habits, is there an area that we discussed that you just aren't winning?
• Are you burning the candle at both ends and feeling exhausted? If so, what can you do to relieve that burden and make a change?
• What is 1 habit you can start doing OR stop doing today to have better success personally and professionally?

Verse From the Episode: "Lazy hands make for poverty, but diligent hands bring wealth. He who gathers crops in summer is a prudent son, but he who sleeps during harvest is a disgraceful son." -Proverbs 10:4-5

Today, Dave is going to share 5 books that he hopes will excite you about personal finance.

When Dave was beginning his financial journey he read hardbound books.

Today there are many other ways to expand your knowledge - from books of course, but also by listening to podcasts, online courses, lectures, and college classes.
 
Learning about personal finance is crucial for anyone to develop a strong foundation for growing and managing their money effectively.

Listen carefully and see if there is one of these 5 books that clicks for you and get to work!

Questions for Review:

• What medium do you find most helpful when learning about personal finance? Is it audio, video, or the written word?
• What one book of the 5 most interests you?
• How can you maintain a focus on continuous learning and growth in your own personal finance journey?

Quote From the Podcast:
"The more that you read, the more things you will know. 

The more that you learn, the more places you’ll go." 

—Dr. Seuss

That means 9 out of 10 lower-income workers have nothing to show for all their hard work. Think about that for a minute. This is an incredible statistic that we want to avoid at all costs.

On today's podcast, Dave shares 5 common money fails, plus 5 ways you can think differently to WIN with money!  

Dave is going to share the top reasons why some people have zero money saved for retirement and, of course, how you can reverse that.

Remember, saving money for retirement is like planting seeds in a garden.

The earlier you start and the more you take care of it, the bigger and better your garden will be when you're ready to stop working!

Questions for Review:

• Can you identify with any of these common money fails?
• Which of the 5 solutions to win with money do you need to start doing?
• Are you happy with where you are in terms of saving for retirement? If not, what can you do to kickstart that into gear?

Verse From the Episode: "On the first day of every week, each of you is to put something aside and store it up, as he may prosper, so that there will be no collecting when I come." -1 Corinthians 16:2

That said, whether you believe them or not, these 5 verses provide timeless, practical advice for anyone to win with money.

Listen in as Dave provides 5 more bible verses on how you can succeed financially and in life.

After listening, if there is a verse that makes sense to you, write it down, memorize it, and then apply it to your life!

Do that and you will be on your way to win with money!

Questions for Review:

• Did any of the 5 bible verses strike a chord with you?
• In what ways could you begin to live your life generously financially and/or with your time?

Verse From the Episode: "Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it." -Proverbs 21:20

Nearly 25% of the words Jesus spoke in the New Testament deal with biblical stewardship and 1 out of 10 verses in the Gospels deal with money.

In this Podcast episode, Dave is briefly going to share 5 verses about money from the bible.

These are timeless statements from the Bible that I believe will help you to win with money - regardless of where you are spiritually.

I think you will see that these verses, from over thousands of years, are just as relevant today as when they were once written.

Personally, I don’t like being preached at and I doubt you do either, so my goal today is to not do that on the episode.

I will simply share the verse, and give you my take.

Questions For Review:

• Do you use the bible as a source of wisdom and truth in your life?
• What 1 verse from the 5 did you find most relatable or impactful?

Verse From the Episode: "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it." -Proverbs 13:11

Dave shares how your passions, relationships, and personal growth all contribute to living a good life.

Remember, the pursuit of wealth should never come at the expense of your mental and emotional well-being or the things that truly matter to you.

Join us on the episode, as we explore the key principles and practices that can help you achieve both financial well-being and a satisfying life.

We hope you come away with a clearer sense of what you need to work on to live a more balanced and enjoyable life.

Questions for Review:

• What does a satisfied mind or satisfied life look like to you? Write it down and reread it from time to time to keep yourself on course.  
• Do you feel like you have a good balance between financial success and personal/relational success?
• What one thing can you start doing or stop doing today to have a more satisfied life?

Quote From the Podcast (Song):
"How many times have you heard someone say

If I had his money I'd do things my way

Hmm, but little they know

Hmm, it's so hard to find

One rich man in ten with a satisfied mind"
-Bob Dylan

Today, we'll explore some of the best frugal examples from the life of one of the world's most renowned investors - Warren Buffett!

For instance, did you know that Warren Buffett still lives in the same modest house in Omaha, Nebraska, that he purchased in 1958 for $31,500?

Despite his immense wealth, Buffett prefers to drive an old Cadillac instead of a luxury car.

In doing research on Buffett I came to realize that he is just a regular person. He’s just like us in many ways. 

What does that have to do with you?

Our world may be different from Warren Buffett's in some ways but not all ways.

We can learn from him and apply that knowledge to winning with money as it fits our own individual family's situation, just like he has done.

Find the balance between frugality and enjoying life and you will win with money.

Questions for Review:

• Does being frugal sound boring to you? How can you make saving exciting?
• Do you find yourself always looking for the next new gadget, or having the latest fashion item?
• What one thing from Warren Buffett can you take away and do differently?

Verse From the Episode: "The wise store up choice food and olive oil, but fools gulp theirs down." -Proverbs 21:20

This is something Dave knows all too well.

In this episode, Dave is going to go a bit more in-depth on this subject of retiring early as he weighs both the good with the bad.

It's important to consider all possible options before taking social security. Taking the benefits early is PERMANENT!  

That said, if you have become a student of personal finance, and are practicing some of the key lessons I’ve shared over the past year or so, YOU will win with money and YOU will have a really good retirement!

Questions for Review: 

• Are you hoping to retire early?
• Have you considered when you might want to start taking social security?
• What would an ideal life look like for you when you do choose to retire?

Verse From the Episode: "The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." -Proverbs 21:5

In this episode, Dave presents 5 great reasons to open a Roth IRA today (and start contributing) so that you can start winning with money.

There are a bunch of tax advantages that we discuss in the episode. In addition, it's flexible and accessible unlike many other popular retirement products out there.

If you haven't created a Roth IRA yet or perhaps you aren't really sure what exactly it is, make sure to give this a listen.

After listening, let us know. Are you convinced?

Is the Roth IRA the best retirement product available today?

Questions For Review:

• Do you meet the requirements to invest in a Roth IRA?
• If so, what's holding you back from starting a Roth IRA?
• Do you feel like you have a better grasp of the pros and cons of a Roth IRA?

Verse From the Episode: "Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest." -Proverbs 6:6-8

For instance, individuals with higher levels of education tend to have higher earning potential and access to better job opportunities.

It's important to note that financial success is influenced by various factors, including personal circumstances, industry trends, market conditions, and individual choices and behaviors.

That said, don’t get too caught up on all those factors.

Focus on YOU and what YOU can do now to win with money.

Questions For Review:

• How many of the 10 things that Dave mentioned do you currently possess?
• Is your current lifestyle setting you up to live a rich life down the road or a poor one?
• What 1 thing can you focus on from what Dave taught on?

Verse From the Episode: "Whoever is generous to the poor lends to the Lord, and he will repay him for his deed." -Proverbs 19:17

In this episode, Dave is going to share 6 key things that you will need to do to become a great financial investor.

Investing can be a powerful tool to build wealth and achieve financial goals, but it requires knowledge, discipline, and a well-thought-out strategy.

Today's podcast will cover some essential principles and strategies to help you improve your financial investing skills while leaving you with lots of practical takeaways.

Remember, investing is all about making informed decisions and staying focused on the big picture. Best of luck on your investing journey!

Questions for Review:

• How many of the 6 points Dave mentioned on the podcast do you feel solid on? What's 1 that you can focus on?
• Do you feel like a smart, calculated investor that is on track to win with money? If not, what can you do to get more knowledgable?

Verse From the Episode: "Honor the Lord with your wealth and with the firstfruits of all your produce; then your barns will be filled with plenty, and your vats will be bursting with wine." -Proverbs 3:9-10

Today, Dave is going down a different path in the sense that he’s going to cover more of the psychology of why we make decisions and how to make better ones.

"Choice, not chance, determines your destiny." -Aristotle.

YOU will not achieve your money goals by accident or by ‘chance’. 

YOU will achieve those goals as a result of a written plan, educating yourself on the subject of money and hard work. YOU will have many choices in life and some of those choices can move you closer to your goal or further away.

Make the wise choice of the many alternatives. 

Chose to become a lifelong saver and investor.

That one decision will allow you to break the cycle of always being in debt and never getting ahead. It will change your life for the better... forever!

Questions for Review:

• Do you consider the success in your life a result of chance or do you consider it a result of many positive choices (along with some luck along the way)?
• What choices are you holding off making which are hindering you from your future success?

Quote From the Episode: "Excellence is never an accident. It is always the result of high intention, sincere effort, and intelligent execution; it represents the wise choice of many alternatives - choice, not chance, determines your destiny."  -Aristotle

Today, Dave is going to talk about the greatest wealth transfer in history.

Baby boomer parents are set to leave their millennial children $68 trillion!

But, hold on to your horses because Dave has a little more to add to the story and why you’d be prudent to save for your future anyway.

If you are planning to receive an inheritance or hoping to leave one, this is an episode you won't want to miss!

Questions for Review:

• Are you hoping to either receive or leave an inheritance?
• Have you considered some things that may or may not lessen the total value of the inheritance?
• What can you do today to not rely on receiving an inheritance?

Verse From the Episode: "Dishonest money dwindles away, but whoever gathers money little by little makes it grow." -Proverbs 13:11

You are going to learn the basics of why it's important to set up a will or a trust and also what it means to set a beneficiary or executor.

Dave simplifies the whole process in this episode.

If you’ve been a good steward with your money in life… let’s finish well and have a plan for where it will go when you pass.

Remember, you can’t take it with you.

However, YOU can make your family's life a whole lot easier when it comes time to complete your estate.

Take the time now to get organized and do the needed steps on your estate. They will all be very appreciative!

Questions for Review:

• Are you okay with the government deciding what to do with your money?
• Have you set up a will or a trust for the unfortunate scenario of you passing unexpectantly?
• If you have set it up, when was the last time you reviewed it? Have things changed a bit in the last few years or should they stay the same?

Verse From the Episode: "I tell you the truth, those who listen to my message and believe in God who sent me have eternal life. They will never be condemned for their sins, but they have already passed from death into life." -John 5:24

This being a personal finance podcast, Dave thought it might be a good idea to talk about this subject in a bit more depth.

Learn all about the amazing effects of compound interest in this week's podcast episode.

Dave simplifies this confounding topic with a plethora of easy-to-follow examples.

It's an episode you won't want to miss!

By the power of compound interest and time, you will win with money.

Questions for Review:

• Do you feel like you better understand compound interest now?
• Did the results of investing for 20 years vs. 30 years surprise you?
• What 1 thing can you do today to get started in saving and investing for your future?

Quote From the Episode: “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” -Albert Einstein

If you’ve spent any time learning how the stock market works you probably have heard of this advice and it’s a wise one: Diversify.  

As with just about everything in life you need to have a balance.

In the episode, Dave provides a simple rule of thumb to follow when investing in individual stocks so that you can sleep comfortably at night.

It's important to set the guidelines now before you get too emotional about one particular stock or company.

Questions for Review:

• Have you set up a diversified portfolio?
• Are you too heavily invested in one particular stock? If so, what can you do to spread out your risk?
• Take time today or work with the right person to make sure you have setup a diversified portfolio.

Quote From the Episode: "Life is about balance. Be kind, but don’t let people abuse you. Trust, but don’t be deceived. Be content, but never stop improving yourself." -Zig Ziglar

Only about 1 in 4 of the children are getting any solid financial education from their parentals!

Today, we want to discuss a topic that is near and dear to our hearts and that is to help people become savers and not just spenders. 

More specifically, we are going to talk about how you can raise your children, or others in your life to be successful financially by developing smart financial habits.

Changing your little human from a consumer to a saver is a serious business and it will take time and work on your part, but it will also be so, so rewarding.

By taking the time to teach them age-appropriate lessons on money they will learn to be savers and not just spenders.

Learn more on this week's episode.

Questions for Review:

• Did you learn to become a saver growing up?
• If saving was fun, what would it look like?
• What things could you do to teach your kids to learn and enjoy savings?

Verse From the Episode: "A faithful man will abound with blessings, But whoever hastens to be rich will not go unpunished." -Proverbs 28:20

Sadly, financially speaking, many kids these days are not being taught anything about personal finance, and guess what, when they get older they tend to continue to make the same poor financial mistakes they did as kids.

A poll by ING Direct found that 87% of teens know little to nothing about how to manage money. 

The majority that do learn something, learn it from their parents, but around 12% said they’ve not had any parental guidance handling their finances.

This week's podcast is an encouragement to any parent or teacher out there to take the time to teach your kids the basics of personal finance so that they will win with money and in life!

I can almost guarantee that your kids will enjoy the subject and it will help shape their financial destiny for a lifetime.

The longer you wait to teach your children to be good stewards of their financial resources the harder it is to instill good habits.

Questions for Review:

• Do you feel confident enough to teach kids on the basics of personal finance?
• If the answer to the above question is no, what can you do to increase your knowledge and confidence on the subject of money?
• Are there kids in your life (in any capacity) that you can impact in a positive way by teaching them about personal finance?

Verse From the Episode: "Start children off on the way they should go, and even when they are old they will not turn from it." -Proverbs 22:6

Did you know that those who delay gratification are more self-motivated and more able to face future obstacles or challenges when they come?

Delaying a reward can be hard at the time but the rewards for waiting will outweigh the initial disappointment you may have.

Today, Dave is going to speak on a common problem many of us have and that is the desire to have it all, and have it now.

Unfortunately, that desire from a financial perspective will derail your future financial success 100% of the time. 

Listen to what he has to say and how you can correct the problem on this very important episode.

Applying this delayed gratification principle to your life will help you win with money. Without it, unfortunately, you will forever be cash-strapped and not able to move the needle financially speaking.

Questions for Review:

• Is delaying gratification something you struggle with?
• Do you find yourself in a situation where you are house-rich and cash poor? Or perhaps, car rich and cash poor?
• What one thing can you cut out or cut back on to put more money towards a savings account or pay down debt?

Verse from the Episode: “Whoever loves pleasure will be a poor man; he who loves wine and oil will not be rich.” -Proverbs 17:21

For instance, do you find that every year around tax time you start to feel your blood pressure rise and you stress out more than normal?

...You have to go find all those receipts and go through those bank statements and so forth.

Well, you can minimize all this by getting those things organized.

Getting your financial house in order will do 2 things for you. 

First, it will allow you to easily find those important documents when needed and not have to go all over the house to find them and 2nd, having this process in place will give you financial peace.

As you gain wealth, it can get a bit complicated, so it is imperative to have a process in place to win in this area.

Questions for Review:

• Do you feel like your financial house is in order?
• Do you have trouble staying on track with important physical documents?
• What is one thing that you can do to get more organized financially?

Verse From the Episode: "But all things should be done decently and in order." -1 Corinthians 14:40

Dave receives emails asking for advice on finances on a regular basis and he is always happy to respond. 

He's so encouraged that you all are choosing to change your financial habits and win with money 🙂.

One of the themes Dave frequently sees is something like "what are the best ways to _____________."

For example, the best way to choose a mutual fund or make a budget.

In this episode, Dave is going to touch on the 10 best ways [that we know of] to win with money. 

I’m certain there are many others that would be more specific to your situation, however, these 10 points today are good, fundamental habits or processes you can put in place that will make a profound change to how you succeed financially.

There are many ways to become wealthy but the tried and true method is to live below your means and save and invest consistently and over time you will win with money.

Questions for Review:

• Do you feel like you are currently winning with money?
• Which of these 10 points can you focus on and begin implementing today?
• What's the biggest thing holding you back from succeeding financially?

Quote From the Episode: "A ship in harbor is safe, but that’s not what ships are built for." -John A Shedd

With a worldwide virus raging throughout the world, many lives were lost, millions had to change how they worked, and many others lost their jobs completely as we all experienced a once-in-a-century phenomenon.

With that gigantic disruption, many experienced final loss and disruption to their normal way of life - financially speaking.

Today, I want to hit the ‘reset button’ and touch on some key points in your personal finance toolbox. 

I want you to take a look at your financial situation and if you’ve taken a left turn over the past couple of years, maybe because of necessity, this podcast may be just what is needed to get you back on track.

For instance, are your financial investments giving the return you need for your retirement?

Is it time to rebalance your portfolio or maybe change your traditional IRA to a ROTH IRA?

Carve out some time this week and focus on 1 of each of these 6 items every day for the next 6 days.

These are very important to your financial health so you will need to take a bit more time on them.

However, over time you will reap the benefits and - WIN WITH MONEY!

Questions For Review:

• Did you take some time to review the 3 items from last week's episode? If not, go back and listen to part 1 of the getting your financial house in order 2-part series.
• Of the 6 points mentioned, what do you struggle with most?
• What one thing from the episode can you implement right now to help you get on track with money?

Verse From the Episode: "I studied it all carefully from the beginning. Then I decided to write it down for you in an organized way." -Luke 1:3

In this Podcast episode, Dave discusses 3 things you can do right now to get your financial house in order.

All three are essential if you want to win with money.

For instance, you can't progress financially and live at peace if you are constantly getting into debt and paying high-interest payments.

Not getting out of debt is a surefire way to lose with money.

Dave goes into detail on this topic and has a couple more to consider in this important episode.

Carve out some time this week to make sure you are on track to win with money.

Questions for Review:

• Do you feel like you have your financial house in order?
• Are you struggling to get out of debt? If so, what can be done to move out of it?
• Are there any subscriptions you can cut out or cut back on to put towards savings or debt?

Quote From the Episode: “How wonderful it is that nobody need wait a single moment before starting to improve the world.” -Anne Frank

Or maybe you're really close to a RICH UNCLE… or AUNT. You just know there’s something coming your way…

Well, maybe it's time to think twice.

Listen in on this episode as Dave has lots of important things to consider before you put all your faith in your ship coming in.

As always, we want you to be in charge of your money and not rely on someone else.

The stats show that only 20% of Americans receive an inheritance.

So will you be part of that group? 

Maybe, maybe not.

Dave is going to delve into this topic a bit further and he might surprise you with his perspective on inheritances.

Questions for Review:

• Are you counting on a future inheritance as part of your retirement?
• How can you shift your thinking from counting on someone else for your future [inheritance] to things that you can control [automatically saving and investing]?
• What steps can you take today to make sure you are on track for your retirement?

Verse From the Episode: "And let the peace that comes from Christ rule in your hearts. For as members of one body you are called to live in peace. And always be thankful." - Colossians 3:15

Today Dave is going to talk about the subject of making a budget and WHY it’s SO important in helping you win with money.

In this episode, we want to share some really good reasons to have a budget and hopefully, by the end of the episode, YOU will be on board with us and decide once and for all to begin a budget.

If you do, I promise, YOU will win with money!

Budgeting is a tool to allow you to be in control of your finances.

It will allow you to make it through the month every month and not be on pins and needles every time. With a budget, you will run out of month before you run out of money.

By creating a budget, you will finally get to control where all your money goes every month and YOU will be on your way to winning with money!

This will give you peace of mind over your finances. It will also create financial security in your life!

This budget will allow you to have a place where every dollar of your money goes. This simple tool will transform how you win with money!

Listen to the episode and then get started today with creating a budget.

Questions for Review:

• Do you struggle with running out of money every month? If so, what can you do to avoid that from continuing to happen?
• How would making a budget (and following it!) help you to win with money?
• Of the three budgets Dave discussed, which one is the most appealing to you?

Verse From the Episode: "Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?  For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, saying, ‘This person began to build and wasn’t able to finish.'" - Luke 14:28-30

That quote is attributed to Winston Churchhill and we wholeheartedly agree. 

Today, Dave is going to tell you about his career, the ups and downs, and more importantly, why it’s SO IMPORTANT to find a career that you love.

You see, Dave worked for 30 years in a job that he didn't love. That job paid the bills and allowed for some extra money to save and invest, but it didn't bring true fulfillment to his work life.

We want the best for you both personally and professionally. That's why in this episode we provide some important advice for finding that perfect job that both rewards you in all facets of life.

When you find the work that you love, you will be more fulfilled professionally and personally and I can pretty confidently predict you will be rewarded handsomely for your efforts.

Just think about what YOU could do when you find that awesome job early in your career and then retire on your terms.  

Now THAT is a win/win!

Questions for Review:

• Do you feel fulfilled in your current job?
• If the answer to the above question is no, is there a way you can begin trying out a new role or can you switch to another job that provides more fulfillment?
• Ask yourself, if you could have any job in the world, what would it be? How can you go about making that or something similar to that a reality?

Verse from the Podcast: "And he said to them, ‘Take care, and be on your guard against all covetousness, for one’s life does not consist in the abundance of his possessions.'" -Luke 12:15

Being frugal changed her life dramatically and gave her an amazing quality of life.

Listen in to this story as Dave shares how one person retired at 28 years old making over $8k/month PASSIVELY.

Sounds pretty farfetched, right?

You may be saying, "How could she do that?"  ...or perhaps, "I want to do what she is doing!"

Well, on this episode, learn how Rachel did it without earning a big salary (and how you can do it too!).

Remember, "Whether you think you can, or you think you can’t – you’re right." -Henry Ford

Questions for Review:

• What interests you most about Rachel's story?
• Does her journey seem applicable to your life in any way?
• What 1 thing can you do to start working towards retiring early?

Quote From the Episode: "The secret way to wealth was plain - It depends chiefly on two words, INDUSTRY and FRUGALITY." -Benjamin Franklin

That’s a huge number! 1 in 2 chances it could be you, right?

In today's episode, Daves shares some important retirement statistics that you need to consider.

Many people are working hard to save for retirement with their work plans... That said, there are some unfortunate things you will need to consider if you want to make sure your retirement is a success.

Recently, a Gallup poll interviewed a group of 18 to 29 year-olds and found that they were optimistic about having a very good retirement.

However, once that group turned 30, they started to lower their expectations of a good retirement as they have now been in the workforce for a while and the reality creeps in that they are not saving enough for the latter years.

Let's make sure your retirement is a happy one and not one like the majority of the population that is struggling to get by in their later years.

Questions for Review:

• Did any of Dave's retirement statistics shock you?
• What steps can you take today to make sure you aren't like the 50% of Americans that are forced into retiring early without a plan?
• What realistic number do you want to reach retirement age? Which one step can you make today to put you on the right track to get there?

Verse from the Episode: "One gives freely, yet gains even more; another withholds what is right, only to become poor." -Proverbs 11:24

Sure he was ‘lucky’, but if you read between the lines, he solved problems.

Mark has a lot of wisdom to share in the realms of life, business, and finance.

In this part 2 episode, Dave shares 5 more key financial lessons from Mark Cuban.

Winning with money isn’t always about taking huge risks, most of the time it's the little things you do every day like reading a book on investments or paying your credit card balance off every month. All these things will make you a winner.

So, what problem can you solve in your world today?

You heard some really good ways to save and invest your money, but now I want you to take one of those ideas and make it part of your life so that you can win with money!

Questions for Review:

• Did Mark Cuban's upbringing and entrepreneurial spirit sound relatable to you?
• What problem do you currently see in your savings or investing strategy (this can be habits as well)?
• What 1 lesson from the 10, that Mark taught on, can you go out and immediately implement?

Quote from the Episode: "It doesn't matter how many times you fail. You only have to be right once and then everyone can tell you that you are an overnight success." -Mark Cuban

In this episode, you're going to learn REAL ways to win with money as Dave shares some amazing financial advice from Mark Cuban.

Mark built several successful businesses at an early age because he did what any great entrepreneur does, he solves problems.

He's not only a good businessman, but he's also very savvy with his money and has a lot of great financial wisdom to share.

Listen to the episode as Mark shares 5 unconventional tips for succeeding with money.

Questions for Review:

• Does Mark Cubans early success seem achievable to you? [before he became a billionaire]
• Does getting rich slowly sound appealing to you? Remember, the fastest way to guarantee wealth is to get rich slowly.
• Which of the 5 tips shared do you feel that you can most likely implement?

Quote from the Episode: "Every no gets you closer to a yes." -Mark Cuban

If I said to you I can give you $20K today or $20K five years from now, which would be a better deal? 

That’s easy, right? 

YOU my listeners would say ‘take the money’ and take it now! Why?

If you have been listening to this podcast for a while now and still have not started saving a portion for your retirement, by doing ‘nothing’ with your money, you are actually doing ‘something’ with it. YOU are in essence allowing your hard-earned money to lose value. 

Make sense?

The earlier you start, the better off you are because of the time value of money. Remember, an investment delayed is an opportunity lost.

Start today to win with money.

Questions for Review:

• Do you feel like you fully understand the concept of the time value of money? If not, how could you grow in your knowledge?
• How can you put your money to work today so that it earns for you tomorrow?
• If you have a healthy amount in your savings account, is there some money stored away that could be used to grow your retirement?

Verse From the Episode: "You shall remember the Lord your God, for it is he who gives you power to get wealth, that he may confirm his covenant that he swore to your fathers, as it is this day." -Deuteronomy 8:18

Hear what Dave has to say on today's episode.

Sounds amazing to retire early, doesn’t it?

Well, it can be, but before you take the plunge, take a look at your assets... NO take a very close look and be sure you have enough to really enjoy your newfound freedom.

Ultimately, it’s NOT rocket science and you don’t have to be an engineer, a doctor, or a lawyer to win with money. It takes having a plan, educating yourself on personal finance, and following through with that plan.

Life happens and your plan will not look like Dave's did. I dare say it will be VERY different. That said, our wish for you is to have your own personal plan and then focus on that plan and you will win with money.

If you dare, if you are serious about winning with money, send Dave an email with a 1-page plan with how you are going to win with money. Let Dave be that accountability partner to better enable you to keep on track and win! 

Questions for Review:

• Would you like to retire early?
• If so, what are you currently doing to make that a reality?
• Take time to put together a 1-page plan with how you will win with money.

Verse From the Episode: “'All things are lawful for me,' but not all things are helpful. 'All things are lawful for me,' but I will not be enslaved by anything." -1 Corinthians 6:12

Today, Dave is going to share 6 great ways to save money by not paying taxes.

All these 6 ways are amazing and completely legal thanks to the U.S. government.

Look out, there just may be one idea that’s just right for YOU!

Free money is always a good thing in my book. 

Take advantage when you can with one or even a few of these benefits.

As always, listening to this podcast or any worthy advice is all good, however, the most important step is to make these great ideas a reality. 

Is there one you particularly liked? If so, make a decision this week to make it happen.

Questions for Review:

• Were you familiar with these 6 tax-free benefits for Americans?
• Is there 1 or 2 of these ways that you can begin implementing today?
• Can you think of any other ways to pay less in taxes (legally)?

Verse From the Episode: "Then he said to them, 'So give back to Caesar what is Caesar’s, and to God what is God’s.'” -Matthew 22:21

Today, Dave will share what that is all about and why SOME are winning with money... And guess what, YOU may even learn a thing or two about money from these teenagers!

Listen to this episode and you will learn why personal finance is critical for everyone... including kids.

It is a skill you will use your entire life.

Thank you to all who have been listening to the podcast and please continue to educate yourself about money. You will be glad you did!

Questions for Review:

• Does your spouse or child understand personal finance? If not, how could you teach them?
• Where can you go or what can you do to get more financially educated?
• If you have a teenager think right now about 1 or 2 ways you can incentivize or teach your child personal finance.

Verse From the Episode: "Train up a child in the way they should go, and when they are old they will not depart from it." -Proverbs 22:6

The question today is do YOU want to become one?

Today Dave will discuss 10 ways to help you win with money and make it to that special million-dollar threshold.

As you'll find out in the episode, it’s not all: save, save, save.

It also means cutting expenses, putting your money to work for you, and saving on taxes. All 10 of these ideas will help you on your journey towards winning with money and becoming a millionaire by 65 (or sooner!).

You don't have to implement all 10, but you should manage your finances with intentionality.

In the episode, Dave shared how he got started saving and investing regularly and how he managed to reach a million dollars before the usual retirement age... All that despite earning just an average full-time income for 30 years.

Now it’s your turn! Make a plan and implement it this week.

Questions for Review:

• Does earning a million dollars before 65 seem doable to you?
• Are you on track to earning a million dollars before you expect to retire?
• What 1 thing from the episode can you begin implementing today?

Verse from the Episode: "Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment." -1 Timothy 6:17

There is a big gap between the two and today we will focus on those median numbers (the number right in the middle of the highest and the lowest number).  

You see, the average numbers are the total of a group averaged into one and those numbers can be skewed wildly if you add Elon Musk or Jeff Bezos into this average. When you do that your number can be much higher than what is ‘normal’ in society.

Using the median net worth, we think, is a more accurate number to determine where you stand.

On the last podcast, we spoke about your net worth. Knowing your net worth is a statement that quickly shows you where you stand financially and knowing what the average net worth is in your age group can help you determine how you are doing. 

YOU don’t want to be average, do you? Of course not!

The purpose of this podcast today is to give you a tool to see if you're winning with money.

It’s not a be-all, end-all, but it should help you at least see how you compare and our hope is it just may help you get fired up, or excited and refocused to win with money.
 
Are you winning or… something else? Let's find out!

Questions for Review:

• Are you happy with where you are financially?
• After listening to the Podcast, did you find yourself in the average for your age group, or better or worse compared to your peers?
• What's one thing you can do today that will help make you better than average financially?

Verse from the Episode: "Do not weary yourself to gain wealth, Cease from your consideration of it. When you set your eyes on it, it is gone, for wealth certainly makes itself wings like an eagle that flies toward the heavens." -Proverbs:  23:4-5

Every year since, Dave takes an hour or so on the first week in January and determines that number. 

Now 35+ years later he has a simple 1-page record of what his net worth is. That first year it was just $50K.

In this episode, Dave is going to explain what a Net Worth Statement is and why it’s helpful to do it annually. He outlines a simple process so that you can complete it in (likely) less than an hour's time.

We really recommend you do this as it gives you a quick visual of where you are financially… and frankly it’s very encouraging to see your year-to-year growth!

Listen in to this week's episode as you will discover why completing a net worth statement is important and how you too can succeed at it with very little effort on your part.

Questions for Review:

• Do you know what your net worth is?
• Do you now feel comfortable with calculating your net worth statement?
• Add a 1-hour timeslot to your calendar, sometime this year, to calculate your net worth statement.

Verse of the Episode: "My Wealth Has Come From A Combination Of living in America, some lucky genes, and COMPOUND INTEREST." -Warren Buffett

Many people would say that they have got it all figured out. Their family is a success, they are living the ‘American Dream’. 

Well on the outside they were, but on the inside, they were drowning in debt.

In this episode, learn how minimum payments changed this family's life forever.

Dave shares how one couple got into a complete mess because of their credit card misuse and he will share a very simple solution for you if you are struggling in this area and want to really win with money!

Don't worry, the story does have a happy ending, so make sure you stick around for the entire episode.

Questions for Review:

• Are you only paying the minimum payment on credit cards or other forms of debt [thus paying more in interest]? 
• Are you or someone you love spending more money than you are making from month to month (borrowing the difference)?
• Think today if there is a mental shift you need to make to stop paying credit card interest. Does that mean perhaps you only pay with cash going forward?

Verse from the Episode:  "The Rich Rule Over the Poor and the Borrower is Slave to the Lender." -Proverbs 22:4

Today, Dave is going to tell a story about a good friend that, unfortunately, has not been able to win with money. He'll also share how he would have done it differently and how you can avoid his friend's mistakes and win with money.

You see, Dave's friend once shared that at one point in his career he made over $100K/year... And that would have been over 20 years ago!

Unfortunately, he is now almost 80 and lives off his small pension and social security check.

In this episode, Dave is going to share what went wrong and how to fix it.

Are you ‘sick and tired of being sick and tired’?

We want YOU to win with money. It's time to change yourself today and start winning with money.

Questions for Review:

• Are you 'sick and tired of being sick and tired'?
• Are you becoming like Dave's friend, making lots of money but nothing to show for it [in savings]?
• What one thing can you do today to start saving in a way that has a real impact on your future?

Quote from the Episode: "You can be young without money, but you can't be old without it." - Tennessee Williams

See, if you are young, because of inflation, that $1 million will be considerably less in purchasing power in say 40 years. In other words, if you are 25 today that $1 million would be worth about $300K in real purchasing power.

Now that is pretty discouraging, huh? 

Well today, Dave is going to give you some encouraging news.

Listen in on today's episode as Dave gives you a simple strategy to get you to $2 million at retirement age.

You might be thinking getting to $2 Million isn't possible, but with time on your side, YOU can do this. YOU can win with money.

Think outside the box in regard to your future. Read books that interest you and dream big! Life is an adventure and it can be an exciting one.
 
As you find what you love to do, save faithfully toward your goals, and one day you will enjoy the fruits of your labor.

Questions for Review:

• Does saving 2 million dollars sound like an impossible goal?
• After listening to the episode, what steps can you take to up your savings rate?
• Are there any other hidden ways (legitimate) that you haven't thought of yet that might help you up your savings or savings growth?

Verse of the Episode: "For as he thinks within himself, so he is." -Proverbs 23:7

At age 30, the average American has saved $45K for retirement. At 40 it’s $63K, at 50 it’s $124K, and at 60 it’s $172K. 

Are YOU AVERAGE?

Today I’m going to show you how YOU can save $1M for retirement. Listen in today to find out how YOU can do it.

Yes, it can be done. With faithful saving and a long-term view, YOU will do it. The earlier you start the better.

With compounding, your money doesn't just add up like 2 plus 2 equals 4, but it really compounds or in a sense it multiplies.

See, every year, your money earns money, and then the next year that money plus the growth earns money, and on and on. The longer the time horizon you have the greater that exponential growth will be.

Earning $1M in your lifetime is very doable if you plan and beginning early will make it much easier to accomplish.

For those who have started late, don’t despair! I didn’t even factor in the raises you will likely get or the job changes that could bump your pay up significantly.

Questions for Review:

• Does $1 million dollars in your lifetime seem attainable for you?
• Run the numbers, what would it take for you to earn $1M at retirement? It's time to chart out a plan.

Verse from the Episode: "His lord said to him, ‘Well done, good and faithful servant; you were faithful over a few things, I will make you ruler over many things. Enter into the joy of your lord." -Matthew 25:21

Do you have what it takes to make saving money a habit?

Here are 6 steps to change your behavior according to the International Journal of Behavioral Nutrition and Physical Activity, and other sources: 

1. Identify Cues.
2. Disrupt.  
3. Replace.  
4. Keep it Simple.
5. Think Long-Term.  
6. Persist.  

Learn all about how you can apply these 6 simple steps in this Podcast episode.

Now the habits I’m encouraging you to develop are related to your money. However, they could even apply to other areas of your life too. 

Want to lose weight? Want to exercise more? Want to develop a side hustle and earn more money? 

YOU get the picture right. 

If you really want to win in any area, you must change the behavior that you are currently failing in and develop new habits that are moving you in the right direction to win.

Questions for Review:

• What's one habit that you want to change or create?
• Is there a bad habit that you are currently doing that you can switch with a good habit?
• If creating that one habit was easy, what would it look like?

The verse from the Episode: "Owe no one anything, except to love each other, for the one who loves another has fulfilled the law." -Romans 13:8

That is amazing! Now, are you one of them?

If not, don’t despair, today Dave is going to share money hacks, and if YOU are willing to implement them,  they can change how you think and live financially.

In this episode, you will learn 10 simple little hacks that will help you to save more money.

I'm positive you will be able to go out and immediately implement one or two of these clever ideas.

The goal today is to stimulate you to think differently from what you’ve done in the past, and create a new, more successful process to save more of your money.

You too can win with money! Remember this phrase: "Just because you can buy something, doesn't mean you can afford it."

Questions for Review:

• What 1 clever way from the 10 mentioned can you immediately implement today to start saving more money?
• If saving was easy, what would it look like?
• Is there another hack or tip not mentioned in the Podcast episode that you can start using now to win with money?

The verse from the Episode: "But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever." -1 Timothy 5:8

Maybe you are one of those kids that just didn’t get the information you needed on basic finance.

Schools are really challenged to teach all that is needed for a student to succeed in life and, unfortunately, financial literacy many times falls by the wayside in both school and family life.

Whether you are the parent or you are the student today, my hope is that by the end of this podcast you will have learned one thing that you can use to succeed with money.

Parents are the #1 teacher of their kids.

It's important to teach by example, NOT just by lecturing.

So you parents out there, take a step back and ask, how am I doing? As the saying goes, "more is caught than taught."

Chose one thing today that you can share with your loved ones that will have an impact on their lives financially.

Questions for Review:

• Did you grow up learning about finances? If not, how can you catch up and improve your knowledge?
• If you have kids, what is 1 thing that you can teach them about finance and investing this week?
• Start to think about how you can begin to teach by example and NOT just by lecturing.

The Verse from the Episode: "Death and life are in the power of the tongue." -Proverbs 18:21

I hope it helps a bit on your financial journey and a few suggestions to take you to the next step on YOUR way to financial success.

Do you understand the basics of finance? 

Here are a few financial terms to test your knowledge. Let's see how well you understand:

1. Being debt free
2. A monthly budget
3. An emergency fund
4. Compound interest 
5. Investments and insurance differences

These are just a few basic terms that you need to know on your journey to success in finance!

Don’t let some of these financial terms scare you.

Make ‘Having a monthly budget and an emergency fund’ part of your normal vocabulary and you will be one step closer to winning with money!

In the end, it is up to you to become educated in finance. I know you are interested, so now it is the time to take action!

Questions for Review:

• Do you consider yourself financially literate?
• If the above answer was no, what would it take for you to become financially literate?
• Do you have an emergency fund setup and if not how can you begin to start saving for one?

Verse from the Episode: "The way of a fool is right in his own eyes, but a wise man listens to advice." -Proverbs 12:15

Today, Dave is going to get into specifics on how YOU can become educated in personal finance.

He is going to show you a simple process to help you to understand how to navigate the messy business of saving and investing.

What will you take away from this week's episode?

Dave will share some great resources and walk through a simple, step-by-step process to getting a financial education for free.

Once you have some resources, begin to educate yourself via one of the sites I mentioned on the episode.

Then, when you have some good basic knowledge, put some of your hard-earned money to work for you in a financial brokerage firm and YOU will be on your way to succeeding with money.

Educating yourself does take some effort on your part, just like growing a muscle, mastering a favorite sport, or learning a new language, by taking charge of your life, and in this case your financial life, YOU will WIN with money!

Please don’t put it off! I know you want to get better at it so please begin today.

Questions for Review:

• Would you consider yourself educated in personal finance?
• What areas do you most need help with to become a good saver or investor?
• Can you put aside 20-30 minutes this week to learn more about personal finance? If so, schedule it on your calendar and make sure it actually happens.

Verse From the Episode: "The fear of the Lord is the beginning of knowledge, but fools despise wisdom and instruction." -Proverbs 1:7

In 1991 he bought 100 shares of Microsoft @ $47 a share and 11 months later he sold it at $78. He made $3,100 in less than a year and proceeded to think he was a genius.

Unfortunately, that's not the whole story.

Listen in to this week's episode to learn from one of Dave's early investing mistakes. Learn now so you don't make the same mistake later!

In today's episode, you can learn all about choosing great mutual funds with Dave's step-by-step instructions.

He's going to show you the exact details you need to confidently select the right information and to choose great mutual funds that fit your particular life stage and needs. 

When Dave did this exercise, he looked for "balanced" funds with good returns and average risks. In just a snap they showed 6 funds (from over 1000’s) and of those 6, it breaks those down even more. 

Selecting the right mutual fund is not rocket science and just about anyone can make a reasonably good determination of what to buy.

Lastly, in this podcast, Dave shared resources you can use that are usually free and that will greatly assist you in your journey.

So now you know where the information is… it may now be time to take action and purchase your first Mutual Fund.

Questions for Review:

• What's holding you back from investing in your first mutual fund? Is it a lack of finances or lack of knowledge?
• Are you looking for a fund with higher risk with the potential for higher returns (over time) OR are you looking for a lower-risk option with steadier returns over time?
• What's one thing that you can do right now to get started in the mutual fund game?

The Verse from the Episode: "Trust in the LORD with all your heart, and do not lean on your own understanding. In all your ways acknowledge him, and he will make straight your paths.” -Proverbs 3:5-6

That is looking at large, medium, and small-cap funds as well as international funds and bonds. Basically, that's all different types of stocks and bonds averaged out.
 
That is a whole lot better than what you can get in a high-yield checking or a savings account. 

Today, Dave is going to show you have to have great mutual fund returns like this… AND it’s almost completely painless to implement. 🙂

There is a very straightforward way to find the right mutual fund for your portfolio. This is not rocket science or scary as some might think, but it is a very simple process to accomplish.

Listen in on this episode as Dave teaches a very simple investing formula for investing in smart, fairly low-risk mutual funds.

Questions for Review:

• Do you have an automatic investment strategy set in place? [AKA: Dollar-cost averaging]
• Does investing in mutual funds scare you OR does it take the risk/fun out of investing?
• What's the right mutual fund investing mix that you want to set up today?

The verse from the Episode: "Keep your life free from the love of money, and be content with what you have, for he has said, ‘I will never leave you nor forsake you." -Hebrews 13:5

Are you one of them?

Do you believe that when you get to retirement age there will no longer be money left there for you? Is that true?

Listen to this week's podcast as Dave shares 4 of these common financial myths that are being perpetuated today as Dave questions their validity.

Remember that ½ of the people retire early because they had to & NOT because they wanted to.

So again, please plan now financially speaking so your retirement will be awesome!

As you think of your future, many want to travel extensively or maybe live abroad. If that is YOU, then I dare say you will need a good chunk of money to do those things.

Living on social security income and a small stash of cash is just not going to do it.

Questions for Review:

• How many of these 4 financial myths are you currently believing?
• What unforeseen circumstances might slow you down in retirement?
• What's holding you back from building your retirement savings?

The verse from the Episode: "Therefore, my beloved brothers, be steadfast, immovable, always abounding in the work of the Lord, knowing that in the Lord your labor is not in vain." -1 Corinthians 15:58

Yep, that's certainly true. However, what’s VERY different is when you withdraw that money at retirement.

Listen in as Dave will share how one IRA will net you a considerably higher sum at retirement! 

What? How can that be?

If right now you're going, "I have NO idea what Dave is talking about…Roth, Traditional, Pre-tax, after-tax??? It’s all Greek to me."

Well, hang in there as Dave does his best to make it a bit more clear… That said, if you take nothing else from this episode, take this - NO matter your age, begin to save NOW for your retirement.  

Sure you need to have a basic knowledge of the subject, but honestly, the most important issue is to START saving systematically with automatic withdrawals from your paycheck and straight into your retirement account. 

Today you are going to learn the key benefits and drawbacks of both Roth IRAs and traditional IRAs.

Dave has a clear favorite and you will learn why it likely makes sense for you in this episode.

Questions for Review:

• Do you know what the difference is between a Roth IRA and a Traditional IRA?
• If you had $1M at retirement in a Roth IRA and $1M at retirement in a traditional IRA, which one would be worth more at retirement? Why are the numbers different?
• What step do you need to take today to invest in an IRA?

Verse from the Episode: "Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it." -Proverbs 21:20

First of all, just saving for your retirement in an IRA is awesome! If you do that, you’ll be further ahead than 60% of your neighbors!
 

There are 2 Roths available to many income earners, the original Roth that anyone can have & a newer Roth 401K (both have certain income, contribution rules, and required minimum distributions).

These are both fantastic and the main reason they are is YOU will NEVER be taxed on that money upon withdrawal vs. a traditional IRA.

Most income earners are eligible. 

However, there are some big differences between the Roth and Roth 401K. Learn all that and much more on this week's episode.

Please don’t wait, don’t put it off…open a Roth IRA today. You will be so glad YOU did.

Questions for Review:

• Do you currently have a Roth IRA or Roth 401k setup?
• What's stopping you from investing in your retirement today?

Verse from the Episode: "Every prudent man acts with knowledge, but a fool flaunts his folly." -Proverbs 13:16

If you are, FANTASTIC, if you are not, or maybe are just not sure, stay with me here and we are going to do our best to help you in your personal finances.

Learn all that and much more on this week's episode as Dave breaks down 3 things to consider when you ask yourself, "Am I saving enough for retirement?!"

Here's another probing question for you.

Do you tend to keep a large balance in your checking account / savings account?

If so, it may be a sign that you do not have enough going into your retirement accounts... Or it could be you just don’t know what to do with it so the can gets kicked down the road another day.

That's just one thing to consider when determining whether or not you're saving enough for retirement.

The "extra" money in your checking account is not doing you any good in regard to having a fulfilling retirement.

Put it to work in a 401K or IRA today! Whatever your age, start now and open a retirement account or add to your current one.

You should save a minimum of 10% for that.

Questions for Review:

• Does it feel like you are on track for retirement?
• Do you have extra money (not needed in soon) working for you, compounding through growth assets, or do you just have it sitting in an ordinary checking or savings account?
• What one step can you take today to better prepare for your future?

Quote from the Episode: “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” ― Albert Einstein

Well, today I want to share a couple of financial decisions that you may not necessarily need to do.

The two main pieces of financial advice that Dave discusses in this episode are target rate retirement funds and revocable living trusts.

Perhaps, you might be wondering what exactly are these two things.

Learn all that and more on this week's episode.

Target Date Funds are good, but other funds may be a better fit depending on your circumstances. Do your homework and make the decision that is right for YOU.

Trusts are important for some, say if you have a property in another state or someone in your family is disabled, but maybe not if you are young with just a few assets as an example. If you have very little financially you should not need a trust, but please, please take an hour and make a will as it's not expensive.

Don’t let the government decide where your assets will go if you die prematurely.

If you plan now you WILL be happier later when you retire.

Questions for Review:

• Have you ever invested in a target-date fund and if so are you aware of how much risk you are taking on/or not taking on?
• Have you thought about what would happen if you were to have that untimely death? Where would your assets go?
• Have you taken the time to set up a simple will? Think today about what you would want to have on it.

Quote from the Episode: "The man on top of the mountain didn't fall there." -Vince Lombardi

Which one do you lean towards, thinking or doing? Let’s see where you fit in and how you can improve your odds on this week's episode.

There is a balance between thinking and doing.

Change does not come easily but with the right plan, it can be done. It's important to think through what you are going to do, but if you don't actually go out and execute your plan, it is a worthless plan.

It's so important to set clear, difficult but attainable goals that can be broken down and achieved step by step along the way to the finish line.

Also, accountability to someone like family or friends can make a huge difference to your overall success.

How badly do you want this? 

YOU have to want to win in your finances so badly that NO object or PERSON is going to get in your way. Take charge today and win with money!

Questions for Review:

• What do you struggle with most, thinking or doing?
• How can you push yourself to be more of a doer (and not just a thinker)?
• What's holding you back from winning with money? Once you have that identified, how can you take that one small step to change your future outcome?

Verse from the Episode: "The plans of the diligent lead to profit as surely as haste leads to poverty." -Proverbs 21:5

He found that retirement was sorely missing 3 things: human connection, work fulfillment, and money.

Stopping work is not the be-all, end-all for some people. Work can be exciting, rewarding, and a key to your personal happiness.

I retired at 55 and have been living off our investments for over a decade now and for us it’s worked out very well. We all have just this one life to live, so if you can do it, I say give it a try.

You can always go back to work right?

However, from this podcast today we have learned it may not be for everyone. Something to consider very seriously before you take the plunge.

YOU want your work to be rewarding and to bring you joy. SO if that’s not happening, maybe it's time to look for something else that would fit better.

The important thing is to live with intentionality and start saving and investing today so that you have the luxury to consider retiring at a younger age.

Questions for Review:

• Do you want to retire early?
• What would it take for you to retire early?
• If you were to retire early, what would you do to occupy your time?

Verse from the Episode: "Do not be anxious about anything, but in everything by prayer and supplication, with thanksgiving let your requests be made known to God." -Philippians 4:6

With this new windfall of cash, lottery winners tend to spend way more than before they hit it big... and once you add in poor investment choices they burn through the money in next to no time. From rags to riches then back to rags again.

In this episode, Dave is going to help you master your understanding of money.

Dave recommends 6 tried and true books on finance and investing that he has read and widely recommends to others wanting to get better educated.

If you're serious about winning with money, we suggest you go to the library or Amazon and pick up a couple of these books that sound most interesting to you... Even an audiobook will do.

It's time to get started and to get educated on money.

Questions for Review:

• Have you ever read a book on money or investing?
• How does better educating yourself financially play out in your own decisions and future?
• What is one book you are going to start reading this week?

Verse from the Episode: "A faithful person will be richly blessed, but one eager to get rich will not go unpunished." -Proverbs 28:20

In this episode, Dave shares 6 stark differences (from this article) that separate comfortable retirees from those retirees that are just struggling to get by.

As a whole, you can mostly lump retirees into 5 categories: affluent retirees, comfortable retirees, average retirees, struggling retirees, and “just-getting-by” retirees.

This week we walked through what we hope you to eventually become, a comfortable retiree!

Listen and learn as Dave shares these 6 common characteristics of comfortable retirees.

Your retirement can be exciting and fulfilling but you must have a plan. Over time YOUR faithful saving and investing will provide for the retirement YOU desire.

Questions for Review:

• What track are you on right now? Are you currently on the path to being an affluent or comfortable retiree or are you currently on track to become a "just-getting-by" retiree?
• What is the hardest aspect of saving for retirement [for you]?
• What steps do you need to take today to become a comfortable retiree?

Verse from the Episode: "For as he thinks within himself, so he is." -Proverbs 23:7

In this episode, Dave walks through 4 meaningful expenses that you can cut out or likely lower with just a tiny bit of focus.

If you are challenged financially during these crazy times, please know that you are not alone. If you're struggling, but don’t know where to start, this is the perfect episode for you as we share 4 practical examples.

By just taking a little bit of time one night on the computer you can save hundreds of dollars per month on many of your "fixed" costs.

The examples from the episode are what we call "low-hanging fruit" just to get you going. I'm guessing there are a lot more things you can do.

Take a look at each expense from last month and see where you can save. Little changes can have a dramatic effect on YOUR bottom line.

Questions for Review:

• Do you have a system in place or use a service like Mint.com to track your monthly expenses?
• Right now, what is your biggest monthly expense?
• What one subscription from this past month can you call on or email to lower? Is there an expense you can cut out entirely?

Verse from the Episode: "Why do you spend your money for that which is not bread, and your labor for that which does not satisfy? Listen diligently to me, and eat what is good, and delight yourselves in rich food." -Isaiah 55:2

The median bank account balance for this age group is just $3,240.

In this episode, Dave compares and contrasts 3 different countries' savings rates.

The 3 countries explored are China, the United Kingdom, and Germany.

Each one of these countries has a very different savings rate and the important thing is it doesn't completely depend on how prosperous the people are.

Learn how different factors, both economically and socially, make up each country's rate of savings.

In addition, Dave briefly compares how the United States and Canada stack up.

It's an interesting episode that you don't want to miss!

Questions for Review:

• How does your personal savings rate stack up against these 3 countries?
• What percentage of your income can you feel comfortable saving today?
• Do you have a goal to save a certain amount each month? If so, what would it take to accomplish that goal?

Verse from the Episode: "Bring the full amount of your tithes to the Temple, so that there will be plenty of food there. Put me to the test and you will see that I will open the windows of heaven and pour out on you in abundance all kinds of good things." -Malachi 3:10

What are these three things you ask? Listen and learn on this week's episode.

Are you a saver or spender?  

We touched on this topic in podcast #8, but if you tend to be a spender, I want to challenge you today to think differently and to set up processes to change that behavior.

In this Podcast, Dave will relate both the Nike "Just Do It" campaign along with Apple's "Think Different" advertising campaign as you embark on your very own personal finance journey.

It's time to stop keeping up with the Joneses and finally start living for your future. Focus on YOUR goals and YOUR dreams.

As you begin this journey towards becoming a systematic saver you will start seeing positive results and YOU will win in the area of personal finance!

Questions for Review:

• In what ways do you fall victim to the old montage of trying to "keep up with the Joneses"?
• How can you start to "Think Differently" about your personal savings habits?
• What one thing can you do today to change how you see yourself with money (your identity)?

Quote from the episode: "Clarity comes after commitment has been made." –Ellie Drake

...Yikes, that's over ½ of the U.S. population.

In this episode, Dave shares how sometimes the littlest things can keep you from being a good saver.

In many cases, there are tiny friction points that prevent you from taking action.

When we don't know what to do, we often do nothing or stick with what was chosen for us.

Dave is going to show you how to get over the small little hurdles that are likely hindering your financial success.

Don't let inertia hold you back from winning with money. 

When faced with a difficult financial decision, don't put it off until tomorrow- do it now!

Questions for Review:

• What important financial decisions are you putting off until tomorrow (procrastination)?
• What is that one small first step that you can take today to start your journey to winning with money?
• If saving was easy, what would it look like?

Quote from the episode: "When a man with money meets a man with experience, the man with the experience ends up with the money, and the man with the money ends up with the experience." -H. Jackson Brown Jr.

You are going to learn why the total retirement savings needed in large part depends on where you choose to live. Although each family's amount is different based on the lifestyles that they have, we can still take a base average depending on where you end up living at retirement.

Regardless of where you decide to live, you can have enough at retirement if you prepare for the future today and begin to plan out what it will take to retire comfortably (without the stress of not having enough to live on).

Don't despair, start saving today and your retirement will become something you look forward to and not something you dread.

Questions for review:

• Where do you think you'd like to live at retirement?
• What type of lifestyle do you want to have when you retire? Are you saving now in a way that will support that lifestyle later?
• What steps do you need to make today to put you on track for that retirement goal?

Verse from the Episode: "For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it?" -Luke 14:28

Thankfully, Jimmy Garoppolo decided he wasn’t going to be like everyone else.

Are you a natural saver or a spender?

Maybe you are like JimmyG and have to force yourself to be more of a saver... If so, that's okay.

Regardless of whether you make a lot or a little, saving can be difficult and it's common to spend all or more than what comes each month regardless of whether or not you are considered a "high-earner."

In this episode, you are going to learn why it's important to cultivate a habit of saving no matter what your income level is. Also, you will learn why it's important to only invest in financial products that you fully understand.

All that and much more.

It's important to build that saving habit now so that it continues to carry over with you no matter what income you make (now and in the future).

Questions for review:

• Do you tend to be a natural saver or a natural spender?
• Do you feel the need to invest in things that perhaps you don't understand, such as crypto or NFTs? If you understand the investment and are comfortable with it, perhaps it can be to your advantage, but please remember, there is no such thing as easy money!
• What one saving habit can you cultivate today to improve your financial future?

Verse from the Episode: "Go to the ant, O sluggard; consider her ways, and be wise. Without having any chief, officer, or ruler, she prepares her bread in summer and gathers her food in harvest." -Proverbs 6:6-8

Right now, only 15 percent of Americans taking advantage of this tax savings benefit.

In this episode, Dave walks us through two different examples from two different couples who each saved the exact same total amount.

That said, what they were able to take home in retirement was quite different.

As you might imagine, the WAY in which they saved led them to achieve a completely different outcome.

In this episode, you will learn the differences between a traditional IRA and a Roth IRA.

Learn which method Dave most recommends and find out why he believes this to be the greatest tax-saving benefit available to everyday Americans.

Questions for Review:

• Do you have a retirement account that you (or your employer) are contributing to regularly?
• What are some of the benefits that you can get out of a traditional IRA? What about a Roth IRA, what are the benefits?
• What step can you take today to set up a retirement account and plan of action?

Verse from the episode: "Watch yourselves, so that you may not lose what we have worked for, but may win a full reward." -2 John 1:8

In the United States, 7 thousand people die every day. Over half die without any life insurance. So, 52% of people who die every day do not leave anything behind for those they love most.

Would you be able to provide for your loved ones if things were to change for the worse in an instant?

In this episode, you are going to learn why a good life insurance policy is essential to prepare for the worst and to give you peace of mind for those you love most.

In addition, you will learn:

• Why it's essential to have a good life insurance policy in place.
• The differences between Term Life Insurance and Whole Life Insurance. Learn which option is best for cost-conscious savers and which one is best for those looking to build up wealth with a life insurance plan.
• Why Dave recommends the majority of people follow the principle: "Buy term and invest the rest."

Questions for Review:

• Have you ever considered what would happen or how your loved ones would react if you were to suddenly pass away unexpectedly?
• Do you have a life insurance policy in place in case of an untimely death?
• What fits your current needs and desires, term life insurance or whole life insurance?

Verse from the Episode: "But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever." -1 Timothy 5:8

What if I told you that being frugal can actually be quite fun and rewarding.

In this podcast episode, you are going to learn how you can succeed with money by spending less. 

I’m sure you have a friend or know someone that’s making more or twice as much as you… but good news, your fate is not set. Even if you aren’t making as much as him or her, you can still come out ahead.

In the episode, Dave is going to provide you with several tips (like saving $600/year on his phone plan) that you can use to begin building up your savings account. You will learn why:

• Being frugal is a mindset.
• Being frugal will change your financial life for the better.
• Being frugal can be fun in its own right. It's fun to win against the big guys!

Questions for review:

• What comes to mind when you think of the word "frugal"? If brings up negative feelings or thoughts, how can you flip the script and turn it into a positive?
• Do you identify as a saver or a spender? What would it take to change your mindset around who you are?
• What is one thing that you can immediately implement or inquire on [right now] to lower your insurance payment/cell phone bill/car payment/cable bill/etc.?

Verse from the episode: Whatever you do, DO WELL. -Ecclesiastes 9:10A

Learn all about it and how you can implement it on this Save Like Dave episode.

First, let’s do a little imagination exercise.

In each case, you save $10,000 a year. The younger saver starts at age 25 and only saves for 15 years. So $10,000 X 15 years is $150,000 saved after those 15 years. The older saver starts saving at 35 and saves his or her $10,000 per year for 30 years, from age 35 to age 65 with a grand total of $300,000 invested which is $10,000 X 30 years).

Now, who do you think managed to walk away with more at retirement? Who made more at retirement?

Was it the younger saver who only invested $10k for 15 years starting at age 25? Or was it the older saver who invested twice as much, $10k a year for 30 years, but started 10 years later at age 35?

Learn the answer in today's episode.

In the episode, Dave shares:

• How he first learned to save in 3rd grade.
• How he became a consistent saver over the years DESPITE the amount of money coming in.
• How to start saving early and often (not important the amount at first, it's about the habit).
• How to make consistent savings painless and automatic.

Questions for Review:

• Have you set up a way to pay yourself first?
• What can you do today to create a simple automatic savings plan?

Verse of the episode: "On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made." -1 Corinthians 16:2

Despite not having saved for the first ten years of her career, she was able to completely change her financial future by following through on a simple method that Dave lays out in this episode.

Listen and learn how Dave's sister was able to build a retirement with the help of an easy-to-follow plan.

She succeeded because she was ACCOUNTABLE to someone [Dave].

If Dave's sister had not started saving consistently at 35 she would have 0 to show for all her work instead of the $400K+ that she ended up with.

Today, it is much easier to save with an automatic savings plan that YOU can set up at your bank. A certain amount of your money or percentage of every check can go directly into your savings account or retirement plan.

It's time for you to put a plan in place!

Questions for Review:

• What plan do you have to become a consistent saver? Do you have anyone to help keep you accountable?
• Do you have your personal savings or retirement setup to be funded automatically? If not, why not start today?!
• What would you do with that money at 55? Would you like to travel, vacation, or help others? Every successful big dream starts with a plan and preparation.

Verse of the Episode: "On the first day of every week, each of you is to put something aside and store it up, as he may prosper, so that there will be no collecting when I come." -1 Corinthians 16:2 

Did you know that winning in finance is 80% behavioral and only 20% knowledge-based?

Are YOU getting excited yet about the idea of being financially free? ... I hope so!

In this episode, you are going to learn 9 practical money-saving tips for you to start winning with money.

A life well-lived is all about living with intentionality. It’s time to start thinking about where your money goes and how to make the best use of it.

Dave is going to provide you with a ton of practical ideas in this episode.

Questions for Review:

• What are your financial goals?
• Where do you want to be in 5, 10, 20, or 30 years?
• What does that look like in your life?

Quote of the Episode: “I make myself rich by making my wants few.” ― Henry David Thoreau

You’ve probably heard that before, right? But how does it apply to ME? Which one do you want to become? ... Dean or Mike?

Today, we are going to tell you the true story of Dean and Mike and how different life decisions led them towards a completely different future. 

Can someone in a lower-paying job actually save more money than someone making twice as much as them?  How could that be? 

In this episode, you are going to find out.

Questions for Review:

• Do YOU see a bit of yourself in one of these 2 friends?
• Can YOU identify with some of their habits?  
• Why is being a ‘saver’ a big deal?

Verse of the Episode: Wealth gained hastily will dwindle, but whoever gathers little by little will increase it. -Proverbs 13:11

• Why listen to Dave? Dave’s done it and he’s here to help you achieve your financial goals too. Dave's income was well under $50k in all but 4 years [with the highest year at $73k].
• What makes Dave unique? Dave’s been a consistent saver his whole life. He retired at 55 with more than 1 million dollars (only 17% retire by 55).
• What’s in it for you? By faithfully saving and investing you can take control of your financial life. It allows you the freedom to choose how to live your life. You now have options beyond the daily work necessities.
• I want to help people who do not see a way out financially. I want you to not just survive financially but to succeed in every area of your life.
• What You Will Learn: All Save Like Dave Podcast episodes go from anywhere from 14-20 minutes long and teach an important financial concept through engaging stories and practical everyday examples.
  • We will teach you how to become a consistent saver.
  • Learn good financial habits through interesting stories and encouraging examples from others just like you.
  • In each episode, we promise that you will take away at least one proven tip or piece of advice to get you one step closer to reaching your financial goals.

• Mission of the Podcast: Dave considers himself to be “Mr. Average” in almost everything except for his finances. This Podcast is for the everyday person who wants to succeed with money, but doesn't know how.
  • We want to provide hope and practical guidance for those that don’t see a way out of their financial challenges.
  • Dave is hoping to inspire the next generation to take charge of their financial life through these simple, easy-to-follow tactics.
  • Each episode is relatable and actionable to your own financial journey and difficulties.

Verse of the Episode: The plans of the diligent lead to profit as surely as haste leads to poverty. -Proverbs 21:5

Thanks so much for following along and we hope you keep listening!

Nate & Dave Alger