Personal Financial Strategy the podcast

About Personal Financial Strategy the podcast

A podcast focused on you and your money. Hello, I‘m Tony King and each week I will be your guide on a journey to help you discover your best personal financial strategy.

Publisher

tking6

Category

business

Language

en

Explicit

No

First episode

23 Aug 2021

Latest episode

28 Sept 2023

Latest episodes

49 episodes in the feed.

1. 

   28 Sept 2023

   ”An Overview of Investing in Gold” with Simon Popple

   He started his investment business in Real Estate, and eventually migrated to Gold investment. Money market (UK) saw some of his publications on gold investing and enlisted Simon to write a column in Gold investing. Opportunities with gold: Invest in gold stocks. Invest in gold – some low and other high risk. A place to look at and download some info on gold is goldprogram.go.uk. Different levels of Gold investment: Physical gold Gold keepers – large companies; invest in a lots of different companies – multinational, multi-commodity. Defenders – diversity in terms of commodity and countries. Forwards - High Risk, high rewards. Mechanisms – exchanges that are available: Physical gold – go through a reputable gold dealer. Check the World Gold Council recommendation list. Defenders and Forwards – go through Australians or Canadians. There is gold all over the world, but I have a jurisdiction preference, and I tend to buy and invest in Canadian, US, and Australian gold and access them through the Canadian, Australian, and US stock exchange platforms. There are many other opportunities in Africa and other parts of the world. Gold seems to be popping up the social media and internet a lot, why? Gold marketers tend to be more active during fearful economic times. Is this true and is there a reason for this? Gold is a great and valuable asset, and there are terms like golden age, gold medal, etc. The risk in the world can be eased through gold, because the value of gold is the same across the world; this is not the case with other assets. Is there any relationship or risk with the rise of cryptocurrency and decentralized digital currency? These things are separate, and they run separately. It’s not possible to see gold going to zero, but that can happen to any other value, including crypto. I like the fact that I can hold in my hand a gold coin, but cannot hold a bitcoin. Get Simon’s free gold investing advice in his beginner's guide to investing in gold: https://goldprogram.co.uk/free

2. 

   19 Sept 2023

   ”Salting Your Retirement Funds With Crypto, Tax Free” by Eric Tastet

   Eric grew up in a single household – at times with mother and at times with father, quite a poor background. I ended up going to a seminary, became a pastor, planted a church, but took a break to give full attention to entrepreneurship. I learned financial management, but not financial strategies. I’ve had a window washing company, a pressure washing company, wedding venue business, among others. I started searching the market on cryptocurrency in 2017-2018, and that’s where I am. When you are pastoring, you are not looking for money; but I was entrepreneurial even while a pastor to supplement my income, leading to learning about self-directed IRAs. Collective Influence Group This was started by 2 men I was in (Bible) college with. Within 2 years, they started the company, “Impacting others”, hence initiatives such as clean water initiatives, orphanages, and Christian media radio. They buy companies, build them, and sell them. Collective Influence is a private equity firm that has 15 -16 different companies in it. But the main goal is self-directed investment, especially as people become more educated on their personal finances. Self-directed investment frees people from investing through institutionalized processes. If we can release people from this “institutionalism”, we will have succeeded. Tax Free Crypto – one of the companies that Collective Influence has acquired. Tax Free and Retirement Accounts: I started with Roth IRAs while a pastor. I chose the fund. I thought this was self-directing but realized it was self-managing. Analogy: we are good when it comes to self-directing our consumption, but it’s not the case when it comes to investment. One needs full control of where their money goes. So instead of being given choices by someone else, I make a choice of where to invest and how. Consider the case of the bank, who takes my money and makes money from my money, and I do not get a dime from the money they make from my money. They hand over a circa!! But I want to self-direct my money; so, if I had accumulated some money, rolled it over to a self-directed IRA, got a deal, gave a company some credit, and got an 18% return over a 6-month period, I would have thought it was fantastic. This is the kind of a thing that Mitt Romney did: he made about 13 different moves out of his Roth IRA and accumulated about $100M; How the hell did he achieve this? What is good about a tax-free IRA is that there is no limit to your gain. If you self-direct on the promissory note, then you can gain as much. He gave a high debt to private equity. Crypto currency is an asset. So, if one gets a paycheck and contributes to their retirement benefit, they can’t do anything with their contribution until they are old enough to withdraw the money. But if this was released to a private equity, it is possible to buy real estate or other investments, or a rental property. Crypto and risk People make a mistake by equating volatility to risk, which are probably within the same meaning range but different concepts. The same number of people buying and selling crypto currency presently is the same number of people who were using internet in 1997, i.e., 130mil people globally. Today, the internet is the main thing. Bitcoin was invented in 2009, 14 years ago. The adoption rate trajectory is exactly the same with the internet in 1997. Many people did not understand the internet those early days, so they abandoned it, but there are others who jumped in, and they are the market leaders today. So, it pays not to make same mistakes of ignoring an opportunity simply because one does not understand the crypto world. Crypto currency is an opportunity. It is an asset. The block chain — which was started for the purpose of mining bitcoin — now has a “utility” behind it being used by other businesses. This is how they track damaged goods. What was invented for crypto is now a utility that is used publicly. Pay pal is creating a new stable coin, which is att

3. 

   25 Aug 2023

   ”A Bigger Life” with Adam Carroll

   Adam Carroll – Host of build a bigger life podcast; curator of master of money.com and founder of the shred method: Personal Background – pathway leading to him doing what he does His family appeared affluent or middle class, but money wasn’t really there. His family was loving and considerate. I used to use my credit card in college, and so I became part of the debt stats; He was an entrepreneur in college, hence borrowed loans from students to build this business. He studied books about personal finance and started applying the principles, and he was able to pay off all my debts at age 26, except the mortgage. This enabled me to save between 3,000-4,000 USD per month, and made me feel like a millionaire, something I started sharing with other people. Making this my career I met a personal financial guide and mentor, who gave me a couple of books. I became intrigued by the concept of passive income, and how to create it, especially as an educator, speaker, and creative. I wanted to make money speaking, writing, and creating content; so I describe myself as a mediapreneur – meaning I like creating media in all its facets and then figure out how to turn around and sell it. The Shred Method One of the big things the podcast is dedicated to is retiring debts, hence the need to know every new dynamic, principle, and practice to achieve that. The Shred Method is a tactic for optimizing people’s income. Most people don’t have an income problem, they have a liquidity problem; they make enough money to afford what they are doing, but they are not able to go beyond that to save because money is tied up in their lifestyles. The Shred Method tries to help people manage their finances by helping to knock off the debts one by one, maximizing how much money you have remaining at the end of the month, and then figuring out what one should do with the money that is left over; i.e. what is the most efficient use of that money that is humanly possible? Our goal is to create certainty around retirement, to guarantee the working class that they can retire comfortably and never worry about debts and sustainability. We rephrase words differently, for instance, we call retirement choice-age, because we want people at retirement to have many choices and not limited by money in any way. The Shred concept: I was a mortgage broker for a number of years; I started a company that I branded and packaged as the first socially responsible mortgage company in our State. I witnessed the exploitation that was happening in the mortgage sector. This was underhanded and morally reprehensible. I wanted to start a company that didn’t function that way; we would receive people who wanted to refinance their mortgage, and we would do the math and show them they could save between $50-$200 per month; but I would be left with this feeling that you have just paid $2000 or $4000 to refinance your mortgage, which essentially would send the client to the same square they were before. I started digging deeper into this mortgage issue at the decision table, I realized that you pay interest for the first 36-40 months, and this is when most people would refinance before they got their hands on the mortgage game itself. So Shred happens in the first 36-40 months of payment is where you can make the biggest difference in how much principal you can pay down on a mortgage When you do that, you are paying in advance your mortgage; you are accelerating your decision table. So we started realizing that one of our goals was to help people have more equity in their homes, reduce the amount of interest that they pay, and then figure out what to do with that extra equity and strategically deploy it in the right places to start building their own wealth. What do you think about *HELOCs?, a sort of establishing an emergency fund or capital? A broad brush statement: Anyone who has equity at home, must have a HELOC as an emergency fund – in addition to money saved which is liq

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