John Chapman Show Podcast

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On Monday November 25th of 2019 Charles Schwab purchased TD Ameritrade for 26 billion dollars in an all stock deal. For some context, Schwab was started in 1971 by Charles Schwab, he is an entrepreneur from Northern California and graduated from Stanford in 1959. *It should be noted that this is different from Klaus Schwab the founder of the World Economic Forum. That's a completely different guy.* So why did Charles Schwab want to buy TD Ameritrade? Well the reasoning is fairly straightforward - it was an opportunity to almost double their customer base from 12 million customers to 23 million customers, and add over a trillion dollars in assets. To help better understand a brokerage company let's use an analogy of a grocery store. in the same way that you need to go to a grocery store in order to buy food you need to go to a brokerage company in order to buy Investments like stocks ETFs or Mutual fund. The main thing TD Ameritrade customers need to know is that they will have to create a new username and password on the Schwab website after their account has moved over. You do NOT have to create new accounts on the Schwab platform, that will automatically be done for you and the investments moved over. For more information, check out welcome.schwab.com See omnystudio.com/listener for privacy information.

Hello! As we approach the halfway point for 2023, I'd like to share a brief overview on the markets and help you think about your financial plan. Also, be sure to check out my short YouTube video below for additional commentary!  Strengths: Large Cap Stocks (up over 9% by the end of May ‘23)  Money markets, CD's and T-Bills, yielding approximately 5%! Weaknesses The Fed continuing to raise interest rates Banks, Real Estate Investors impacted by high interest rates Small Cap and International Stocks showing relatively slower growth compared to Large Cap Stocks thus far  Opportunities Investing in profitable, reasonably priced companies such as Value and Dividend paying companies  Dollar Cost Averaging into the market (for those who are still working) Learning from last years volatility and staying diversified (more on this in my YouTube Video)  Threats Potential for interest rates staying higher for longer than investors anticipate, which could lead to slow growth or a recession in the future In summary, while the market was tumultuous last year, this year the market has offered a  welcomed respite.  For now I remain optimistic that the market and economy will slowly move forward since unemployment is still low and most Americans are spending money, which helps propel stock prices.  While anything could happen next, the most successful financial plans are those with clearly defined goals, times frames, and risk profile. That way, you can weather any storm and stay on track for financial independence.  Want to chat more? Please feel free to reply to john.chapman@wpwm.com and we can schedule a call.See omnystudio.com/listener for privacy information.

The market volatility over the past few years has left some investors reeling...to the point in which they're asking themselves: Isn't the stock market just like one big casino anyways!? While the market certainly can feel like a roller coaster at times, the reality is this, with gambling, the casino always has higher odds of winning, and the gambler has higher odds of loosing.  Whereas with investing in the stock market, since 1926 the market has produced positive returns In 75% of those years, meaning investors have had high odds of growing their investment.  Why is that the case? The reason is because investors get to benefit from being "part-owners" in innovative companies as they deliver massive value to their customers.  Of course, we don't know what the future might hold and investing involves risk of loss. But so long as investors are able to participate in the innovative growth for public companies in the future, investing in the market is one of the best ways for investors to stay on track toward financial independence. See omnystudio.com/listener for privacy information.

Are you aware of your portfolio's Price-to-Earnings ratio and why it matters?  In this podcast, John breaks down a recent snapshot of Nvidia since it's stock has had a dramatic increase this year in price, which has led to a PE Ratio of over 200.  John shares a simple to understand analogy using a Lemonade Stand business so that investors can better understand what a PE Ratio is.  And be sure to tune in at the end, where John describes how investors should build their portfolios in today's volatile market.See omnystudio.com/listener for privacy information.

Investors experienced a drop of about 10% in January 2022, the most in almost 2 years, causing many investors to wonder what the future holds and how to be positioned going forward.  On todays episode, John shares his insights on how to think about investing in the stock market, especially during times of high volatility. He shares his mental framework for looking at the different economic cycles, and the corresponding market returns.  And in the end, John focuses on two of the most consequential factors in an investors journey: 1) Their mixture of stocks vs. bonds and  2) How much they save and invest each month relative to their income in pursuit of achieving their long term financial independence     See omnystudio.com/listener for privacy information.

Are you considering retiring early from your corporate job and want to be set up for success? Theres an increasing demand for retirement planning given how the workplace has changed in this Covid environment, and it's leading many people to ask these questions: Can I retire early? Should I retire early? How can I take the next step towards retiring early? On todays episode, John shares his insights on get to get up to speed and have clarity on the action steps you should take.  First, John talks about a helpful tip to understand your budget and spending pattern so you can use that as a reference to decide whether you have enough in savings or not.  Next, John talks about the discernment process of deciding whether you should retire.  And last, John describes the Bucket Strategy to better conceptualize how you could generate income from your portfolio.    See omnystudio.com/listener for privacy information.

How are you tracking towards your financial goals in 2022?  On todays episode, John talks about a framework for articulating your goals and discovering the right action steps to take to achieve them.  John talks first about the framework of SMART goals. He then talks about a case study example of a family in their 50s with 3 goals that can be tweaked in order to become more actionable. Specifically, John talks about what if looks like to set up a savings target, how to gain clarity on your taxes, and how structure an investment portfolio for growth and safety.  In the end, there's so many distractions out there but most are beyond our control. Instead, John talks about having structure and clarity as the best way to work toward your financial goals this year.  See omnystudio.com/listener for privacy information.

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Are you concerned about sharing your estate plan with your family?  Maybe you're worried about your children feeling entitled or developing bad habits. Maybe you're concerned about disclosing private information.  Yet, what many families don't consider is the risk that your children might fight over your estate due to lack of clarity and lack of communication about your wishes. An equally troubling scenario.  On today's episode, John talks with attorney Stephen Lewis at the Mitchellweiler Law Corporation about estate planning and what it might look like to communicate your wishes early, and often.  John and Stephen discuss:  - What is an estate plan and why all adults (not just wealthy families) should consider an estate plan  - How and when to start having the family conversation  - Developing a stewardship mindset to training up your children and sharing wisdom with them prior to sharing wealth  In the end, the responsibility is on you to not just create an estate plan to take care of you while you're living and once you pass away. But also to find a way to communicate it clearly to minimize the risks of family disputes.  To contact Stephen about your estate planning, email him at stephen@mlcattorneys.com. See omnystudio.com/listener for privacy information.

Cryptocurrency has been catching all of the buzz, so on today's episode, John talks with WorthPointe CEO Christopher Van Slyke about the dynamics of crypto.  Specifically, John asks Christopher: Is Cryptocurrency a fad or is it here to stay? What makes it so unique or so important? How should investors think about allocating to this asset class? While some investors view cryptocurrency with skepticism, and others view it as if they might have missed out...at the end of the day, cryptocurrency is likely to have a dramatic impact on the way the world operates in the future. As a disclaimer, this is for informational purposes only and not investment advice. You should consult with your own advisor regarding your situation.      See omnystudio.com/listener for privacy information.

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Are you a business owner or real estate investor that feels paralyzed by the potential looming tax bill you’ll pay when you sell your business or property? On today's episode, John talks with Greg Reese, founder of Reef Point LLC about a proprietary tax deferral strategy called a Deferred Sales Trust, or DST.  A DST can allow for tax deferral of up to 10 years, allowing investors the flexibility to manage their income tax and allow for the money to be invested along the way.  Of course, this is a unique tool to be used in very specific situations, so be sure to consult your attorney, financial advisor and tax advisor along the way.  For more information on a DST, visit Greg’s site at: https://reefpointusa.com/ See omnystudio.com/listener for privacy information.

On today’s episode, John and Erica talk about college saving strategies for young families with children under age 10.  College expenses can seem overwhelming for young families who feel like it’s hard enough to save and invest for every day expenses and plan for retirement.  During the episode, John explains the 529 college savings plan as well as his 3 part framework for tackling college savings.  The 3 part framework includes: Bucket 1)  A 529 College Savings Account Bucket 2)  Family money at the time of college Bucket 3)  Non-family money at the time of college  At the end, John shares a hypothetical example of how young families can use this 3 bucket system to better organize and prioritize their educational costs and make their money work as efficiently as possible.   See omnystudio.com/listener for privacy information.

As humans we are wired to be feel a polarizing sense of fear or greed when it comes to our money.  But for Christians, there is a simple yet profound shift that occurs by adopting the perspective that - God owns it all.  On today's episode, John talks about how his faith informs his perspective on money, and how other Christian investors can re-orient themselves around the posture of stewardship.  Some of the implications of a stewardship perspective include: A shift in responsibility A sense of humbleness and gratitude A sense of a accountability  Even for those who may not identify as Christians, simply shifting the perspective to a stewardship mentality can have a dramatic impact on how investors interact with their personal finances.  See omnystudio.com/listener for privacy information.

On today's episode, John talks about how most investors seem to always be asking themselves a version of these 3 questions: 1) Where do I stand with my personal finances 2) Where am I headed and what are my goal  3) How can achieve my goals or experience financial independence In 2020 investors faced one of the sharpest drops in the market in over a decade and millions of Americans lost their job. And now in 2021, the market has recovered it's losses and some are even talking about the next bubble! With so much uncertainty, it's easy to feel lost in the noise and unsure of where you stand financially or how to achieve financial independence.  But by using the financial planning system that John discusses on the show, investors can better orient themselves for where they stand and what actions they need to take now to stay focused on financial independence.    See omnystudio.com/listener for privacy information.

What is the greatest gift that parents and grandparents can give to their family?  A gift much greater than anything money can buy.  That gift, is sharing your story! The story of: How you grew up How your got started with your career and family How you overcame challenges and navigated life in order to get to where you are today  Research suggests the one of the most desired pieces of information that children and grandchildren want is to know the story of their parents and grandparents. And research further suggests that once children and grandchildren know theses stories, it has the potential to create a deeper sense of meaning and connection.  So what will be the legacy that you leave your family?  Get started today by recording short videos or writing journal entries about stories from your past.  Or you can reach out to me directly and I'll send you a free copy of one of my favorite Legacy Journals. Email: thejohnchapmanshow@gmail.com    See omnystudio.com/listener for privacy information.

What all is involved in creating a financial plan? On todays episode, John talks with cohost Erica about the 5 key steps of financial planning and how they uniquely fit together to help investors gain financial peace of mind.  The 5 steps include: Retirement Planning Investment Management  Insurance Planning Estate Planning Tax Planning Whether you're just starting out on journey or getting ready for retirement, having a financial plan that addresses your situation and considers how to grow and preserve your assets from all angels is critical.   See omnystudio.com/listener for privacy information.

To kick things off for 2021, John talks with cohost Erica about the 3 Best and 3 Worst financial habits for investors. Especially in light of all of the wild events taking place in the stock market, it's critical now more than ever to be disciplined and prudent about how to set yourself up for success with your personal finances.  During the episode, John talks about what he sees as the 3 worst financial habits, which include: Taking advice from random people on social media Trying to play the investment lottery and get rich quick  Believing that there's a secret or silver bullet to gaining wealth  Conversely, John talks about what he sees as the 3 best financial habits, which include:  Writing down your goals in the categories of Faith, Family, and Finances and what you hope to accomplish in each category Creating a written financial plan that clearly states your annual savings target Staying humble and continuing to ask yourself 'what could I be missing'   See omnystudio.com/listener for privacy information.

On today's episode John talks with Laura Roser, founder of Paragons Road and author of Your Meaning Legacy to talk about how to pass on non-financial assets.  During the episode Laura talks about: How to package and maintain some of your families most valuable non-financial assets through the use of pictures, letters, books and audio files The importance of having of having a family Mission Statement and significance of having family meetings  The top 5 things people want to know about their grandparents At the end, Laura also shares some notable research on the benefits of children learning their families story as a way to feel more grounded and find a deeper sense of meaning in life.  For more information on Laura, please check out website: https://paragonroad.com/ book:  https://www.amazon.com/Your-Meaning-Legacy-Cultivate-Non-Financial-ebook/dp/B07BJCC5TL See omnystudio.com/listener for privacy information.

With the end of the year fast approaching, John talks with Kyle Casserino, Vice President of Charitable Planning at Fidelity Investments, about how and why to use a Donor Advised Fund as a strategic tool and as a way to simply giving.  During the episode they discuss: The mechanics of a Donor Advised Fund The opportunities to gift appreciated stocks, small business interest, or other assets in order to potentially receive a income tax deduction and avoid capital gains tax The process for online distributions to registered 501(C)(3)'s  For more information, check out https://www.fidelitycharitable.org/. Or connect to John directly at: https://www.thejohnchapmanshow.com.  See omnystudio.com/listener for privacy information.

John talks with fellow WorthPointe advisor Matt Addington CFP® about Back Door Roth Conversions as a fellow up to Ep. 52 where Matt and John talked about Roth Conversions in general.  During the show, John talks about: The Why behind wanting to have a portion of an investors portfolio in a Roth IRA The mechanics of a Back Door Roth Conversion  The major barriers that often disqualify investors and mistakes to look out for At the end, Matt and John talk also about a Mega Back Door Roth strategy within an active 401k Plan.  Disclaimer reminder that this is not tax advice and should be review with your financial planner and tax advisor  See omnystudio.com/listener for privacy information.

John interviews David Blanchett, the Head of Retirement Research at Morningstar, to discuss how to generate retirement income.  With interest rates at historic lows and longevity expectations longer than ever, many retirees face the challenge of having to generate income from their investments for potentially 3 or 4 decades. As a result, many researchers suggest incorporating an income annuity as part of the overall portfolios a way to balance all the various risks.  During the show, David talks about: The different types of annuities, such as accumulation vs. income annuities The benefits of risk pooling and mortality credits The psychological impact of spending down an investment portfolio vs. receiving guaranteed income  How to think about layering annuities into an overall income plan  You can check out more about David here: https://www.morningstar.com/authors/1738/david-blanchett Disclosure: this is not a recommendation for an annuity, but rather a fun and educational conversation so you can talk with your advisor and weigh the pros and cons.  See omnystudio.com/listener for privacy information.

With a month to go until the 2020 Presidential election, many investors are wondering how the stock market might react and are concerned about how to be invested leading up to November.  On this weeks episode, John interviews WorthPointe's CEO Christopher Van Slyke for some helpful perspective on how to be invested amidst what feels like a volatile market.  During the episode Christopher and John talk about:  How the Stock Market factors in all of the information from the news cycle How much of the market performance is impacted by the presidential outcome What history can tell us about how the market performs for various Presidents and their parties Be sure to check out this helpful guide which is referenced during the show: https://bit.ly/3izd9fF See omnystudio.com/listener for privacy information.

Johns interviews Michael Finke, PhD and Professor at Texas Tech University and The American College of Financial Services about the challenges and opportunities for retirees today. With such low yields, increasing longevity and health care costs and potentially rises taxes, retirees faces a unique set of challenges, which can at times feel very daunting. Fortunately, given his extensive research, Michael shares a number of helpful insights for those looking to better invest and spend their money.  During the episode, Michael talks about: Income replacement rates, or how much a pre-retiree should actually be trying to accumulate based on their spending patterns in their working years Safe withdrawals rates for retirees so they balance spending money from their investments without running amount of money  Retirement happiness and ways in which spending can increase or decrease our happiness throughout life  At the end, Michael also talks about how we should be vigilant about our aging parents, or even ourselves as we get older, since we often experience a lot of cognitive decline but rarely feel any loss of confidence in our old age.  A big thank you to Michael for joining John on the show!  For more information, you can check out https://www.theamericancollege.edu/our-people/faculty/michael-finke and https://www.thejohnchapmanshow.com/.  See omnystudio.com/listener for privacy information.

John talks some of the most common myths that investors have when it comes to working with a financial advisor and managing a retirement plan.  During this episode, John talks about the 5 biggest myths, including:  1) A financial advisor will help me pick stocks to beat the market 2) I need to invest in dividend stocks so I can spend the dividends and keep the principal 3) My tax rate will be lower in retirement 4) I can easily self-insure for a long term care event 5) My situation is simple and doesn't require estate planning  In the end, John talks about his frame of reference on these topics, having worked with hundreds of clients of the past decade, and hopefully sheds light on these issues so you can think about them in a new way.  See omnystudio.com/policies/listener for privacy information.

John provides some context and background as to why so many companies have frozen their pensions and have opted for a pension lump sum offer to current and former employees. In this episode, John shares some of his experience with clients over the past decade, and one story in particular that will make you cringe! With so much on the line in deciding what option to take, John provides his 7 Step Checklist as a guide to help you better manage the pros and cons. The 7 Steps Include:  What is your timeframe to retirement? What is your health situation and longevity expectations? How much income do you need to sustain your lifestyle? How much in assets do you have saved?  What is your risk tolerance and investment skill? What is the company's status? What are your family consideration? Has your company offered a pension lump sum offer and are you wondering what the best option is? Schedule a no obligation consultation with John here: https://calendly.com/johnchapmanwpwm/client-meeting-30-minutes   See omnystudio.com/policies/listener for privacy information.

John talks with local estate planning attorney, Darlynn Morgan at the Morgan Law Group, about the various aspects of estate planning and why it's so critical to put a plan together. During the episode, Darlynn talks about a recent story about some of the gaps in Kobe Bryant's estate plan, and how that can inform all of us about how to and when to update our plans. Darlynn also talks about what documents are involved, such as: A financial power of attorney An advanced health care directives And a Will vs. a Trust. Be sure to listen till the end where Darlynn shows her own personal story about losing her first husband in her early 30s and how that impacted her career as an estate planner. For more information, check out: http://morganlawgroup.com/ See omnystudio.com/policies/listener for privacy information.

John talks with his fellow financial advisor and WorthPointe coworker Matt Addington in the Dallas TX office about how to decide whether a Roth Conversion is an effective strategy in your retirement plan. During the episode, John and Matt first share some insight into what exactly a Roth Conversion is, and how it's different from things like a Roth IRA contribution. Matt also talks about weighing the risks and opportunities of paying taxes now vs. sometime in the future when tax rates could have changed. *Be sure to incorporate your tax advisor in this conversation since this is just education and not tax advice* See omnystudio.com/policies/listener for privacy information.

John talks with Medicare specialist Bob Bernardo about the top 3 most costly Medicare mistakes and how to avoid them. In the episode Bob provides an overview of Medicare parts A, B, C and D, as well as the various supplemental Plans.  Bob also talks the process and timing of when to sign up for Medicare. And be sure to listen to the whole episode to learn how you can avoid any costly mistakes and maintain full coverage throughout your working and retirement years.   For more information, check out https://medicarebenefitadvisers.com/about.html See omnystudio.com/policies/listener for privacy information.

John talks with Senior Care Authority founder Frank Samson about the 5 different categories of senior living care. In the episode, Frank talks in depth about how important it is for families with an aging loved one to reach out to a professional as soon as possible to understand the various care options, instead of rushing to find a solution last minute, as is often the case. Frank also talks about the differences, and pro's and con's for the following types of care:  Independent Living Communities Assisted Living  Memory Care Skilled Nursing Facilities In Home Care  At the end, Frank talks about how Medicaid or Medi-Cal can effect your options for senior care, and what the approximate out of pockets costs can be.  For more information or to schedule a consultation, be sure to check out https://www.seniorcareauthority.com/.  See omnystudio.com/policies/listener for privacy information.

John talks with attorney Jeff Love, who is a Partner at Gibbs Gidden law firm in Los Angeles, about the importance of a Buy-Sell agreement in a partnership or small business. Jeff talks about some of the unforeseen risks that can come up when a partnership doesn't have a Buy-Sell agreement in place. And he also talks about what all is included in the drafting process of the agreement and how you can get started today. For more information on Jeff Love, be sure to check out https://www.gibbsgiden.com/.  See omnystudio.com/policies/listener for privacy information.

John interviews Michael Vann, at the Vann Group, a strategic consultant that helps small and mid size businesses to build, maximize, and realize their full value. On this episode, Michael shares his insight into what it looks like for second or third generation family members to buy out a family run business. Michael shares the multiple stages of succession planning, and gives some advice for those who have opened "Pandora's Box," as he puts it. Be sure to check out their website or purchase Michaels new book on Amazon. Website: https://vann-group.com/ Book: https://www.amazon.com/Buying-Out-Boss-Successors-Succession/dp/1544511302

This week we take a pause from personal finance to talk with an organization that is close to my heart - Free Wheelchair Mission. On this episode, I talk with Nuka Solomon, the CEO of Free Wheelchair Mission, to better understand their mission of providing the gift of mobility and how the logistics work from manufacturing to delivering wheelchairs to those in developing countries. Nuka also shares some stories about past recipients of wheelchairs and the significance it can have in their life. Be sure to check out their website, and tune into their annual Miracle of Mobility Event on July 23rd at 6pm Pacific.  https://www.freewheelchairmission.org/

In this episode, John interviews Nick Raithel, the creator of the 7 Hour Book, to talk about the opportunity corporate employees have to become indispensable within their organization. During the conversation, Nick talks about Seth Godin's book Linchin as the premise for the idea of being indispensable and how adapting that mindset is crucial within the modern work force. Nick also talks about who you should think about building a personal brand, what type of content you can create and why writing a book can be so influential. For more information on Nick and to learn about writing a book, check out http://contentcorps.net/. 

John talks with valuations expert, Trent Read, about the background of the 409A valuation and why it's so important. Trent talks about how often private companies need to go through the valuation process and how long it takes. They also talk about some of the confusion around employees not understanding the impact of their 409A value and how that impacts their private company stock. To learn more about going through a private company valuation, check out www.econpartners.com. 

John talks with asset protection attorney, Douglas Lodmell, about the reality of our litigious society and what's at stake for those who ignore asset protection as a part of their overall financial plan. Doug explains that asset protection isn't just for the super rich and provides a basic overview of various trusts can help provide protection from creditors. For more information on Doug, be sure to check out his website at https://www.lodmell.com. 

John talks with Darren Morrow, CPA and Founder of Morrow & Company, about the SBA Loans made available through the CARES Act of 2020. Darren talks about the differences between the Disaster Relief loans and the Paycheck Protection Plan loans. He also talks about the process of applying for the loans and how they can be utilized for small businesses. If you're a small business, Bbe sure to get with your tax professional ASAP to get a full explanation of your options!

John talks with Christopher Van Slyke, CEO and Founder of WorthPointe, about how investors should be thinking if they sold after the massive volatility from the CoronaVirus. John shares some stats on how much money flowed out of the market during the bear market, and also what the research suggests about trying to time the market. Christopher also shares his thoughts on how to find an appropriate mix of investments that you can handle and how to get back in. 

If you've recently lost your job (or potentially will lose your job) as a result of the CoronaVirus pandemic, John shares 8 action items to take right now to get back on your feet and ensure you're staying financially secure. Given the historic jump in unemployment as a result of the pandemic, 1 in 10 working people are now out of job and that has had a dramatic effect and many families and communities. Be sure to check out this short, action packed episode to stay on track. 

John talks with Anthony Park, an attorney and professional executor in New York, about the process of settling an estate once a loved one passes away. Anthony explains how the probate process works and the difference between a Will and a Trust. Anthony also talks about some of the most important factors to consider when creating an estate plan and some major pitfalls to avoid. 

John talks with Marc Glickman, the CEO of Buddyins.com, which is an online community of Long Term Care experts providing education and insurance solutions. During the conversation Marc talks about his unique background as both an actuary with the insurance companies and later as a LTC insurance agent. Marc shares that an estimated 40 million Americans will be impacted with taken care of an elderly loved one and that most families have no plan in place to deal with aging family members and managing the cost of care. Marc also talks about how LTC policies work in practice and when you should consider getting insured. Be sure to check out his website www.buddyins.com to get in touch with a local agent who specializes in long term care.

John talks with Kan Ta, Executive Partner at Binc, a recruiting firm serving many of the top tech companies in the Bay area with hiring the best candidates to build an amazing team. Kan talks about how successful job seekers "run toward" a new job, a opposed to "running away" from their old job. Kan also explores how to compare job opportunities at small and large companies, and evaluate the different equity compensation options. Kan finishes by talking about the shifting landscape for employers and job seekers in 2020 and beyond. 

After the worst trading week since 2008, John interviews WorthPointe's CEO, Christopher Van Slyke, to discuss the recent market events and the impact on investment portfolios. Christopher and John talk about the market history and past events that have rocked the market. They also talk about what actions you should consider with your investments and how that relates to achieving your longterm goals.

Tax expert Jeff McNerney joins John to talk about demystifying some misconceptions about working with a CPA and highlights the importance of having an expert financial team. Jeff also talks about some challenges and opportunities for W2 employees and Small Business owners. They also briefly about gifting rules, inheritance taxes, and the power planning for the future.

John speaks with disability insurance expert, Robert Clark, about his background and how his family was uniquely impacted by having disability insurance. Robert also talked about some of the basics for both corporate employees, and high income individuals on how they can protect themselves in case of disability. While it's easy to overlook this type of insurance, Robert captures why having disability insurance is absolutely critical in a financial plan. 

John interviews Robert Farrington, who runs the very popular website, CollegeInvestor.com, and is one of America's leading experts in understanding the full scope of student loan debt. On the show they talk about how we as a culture ended up at this point, with over $1.5 Trillion in student loan debt outstanding. Also, Robert shares some times for parents with kids who are thinking about college in the future and the strategies for understanding what money is available. As well as what post grads should do if they find themselves in a lot of student debt after college.   Episode Highlights: Robert Farrington talks about his background and why understanding student loans has been such a meaningful topic to him. How does Robert believe that we have arrived at this massive college loan debt problem?   What are some dos and don’ts for parents that have kids preparing to pay for college?  Set college financing expectations between parents and students early.  What are some ways to pay for college before loans?  College is an investment and we need to think of school as needing a return-on-investment.   There are alternative education options for students for whom college may not be an appropriate option.  Community colleges for the first two years can keep costs down.  Robert Farrington talks about FAFSA application process for scholarships and grants.  How should the average 25-30-year-old do to prioritize repaying their student loans?   Repaying your student loans is the best thing you can do. Your income will get better.  How should students approach the income-driven repayment plans? Take ownership over your college loan repayment strategy.     3 Key Points: There is almost $1.6 trillion dollars in college loan debt.  Before taking out loans for college, first consider: parents saving, kids saving, college savings plans, scholarships, grants, work study programs and fellowships,  Community college transfers are actually the highest graduation rate from a four-year college by like 10% more, with an almost 78% graduation rate.    Tweetable Quotes: “I started the College Investor when I was done with college. I really wanted to talk about investing and other money topics. But then I was one of these student loan borrowers that started having issues.” – Robert Farrington “As long as there is the ability to borrow limitless dollars to pay for college, colleges can raise the price to pay for things and pass that cost onto students.” – Robert Farrington “By the time they are in 9th or 10th grade, they should have a clear picture on what mom and dad are going to pay for college and what is expected of them.” – Robert Farrington   Resources Mentioned: Linkedin: John Chapman Robert Farrington: Linkedin The College Investor: thecollegeinvestor.com StudentLoans.gov: studentloans.gov LoanBuddy: loanbuddy.us

John interviews Alexis Haselberger, a time management and productivity coach, to learn about her professional development, working in HR and operations to starting her own consulting business. We talked about her process for coaching individual clients, and she shares some best practices for getting organized and getting tasks completed. Do not miss today's episode!   Episode Highlights: Alexis Haselberger talks about her early career and her ability to manage time.  What were her early ways of assisting others with time management?   What type of education resources was Alexis taking advantage of?  At what point did Alexis Haselberger build up the business side of her time management abilities?  How does Alexis customize her training to individuals?   What is an example of a type of client she has been able to help?    How can we handle our distractions that can pull us away from work?    The prioritizing system that Alexis recommends is platform system agnostic.   She breaks down the power of capture, prioritize, act, and document.  How does she build flexibility into their task management system?  The stuff you got done today is more important than the stuff you didn’t get done.  Have a realistic amount of time for taking breaks.     3 Key Points: Alexis starts individual training with getting to know who the person is as they already are. Then she customizes the training to that person incorporating the constraints and needs they have.    When Alexis is working and is having an unrelated thought that could potentially take away her concentration, she writes it down with a checkbox next to it if it is a to-do item. The four steps to manage your time to get tasks done are: capture, prioritize, act, and document.    Tweetable Quotes: “Never work more than 40 hours a week because then they will expect it.” – Alexis Haselberger (Alexis Haselberger’s mother) “You are best at your work when you have time off, right? When we are working 16 hours a day, we are not actually very effective. I think the studies show that after about 6 hours or so, we are just not that effective.” – Alexis Haselberger “In my business, I have a couple of buckets. I have individual training. I have group coaching and then I have corporate workshops.” – Alexis Haselberger   Resources Mentioned: Linkedin: John Chapman Alexis Haselberger: Linkedin Alexis Haselberger’s Website

John interviews Rocky Lalvani, Financial Coach at Richer Soul, Profit First Professional, Fractional CFO at Profit Comes First, Principal at Lalvani & Associates, Real Estate Investor at MLFRC, and Partner at RADFRC. Rocky Lalvani explains growing up in an immigrant family in New Jersey, how he got unstuck from an unfulfilling definition of success and began living life with a richer soul, mastermind groups, and ways to step up your networking game.    Episode Highlights: Rocky Lalvani shares where he grew up and what money was like in your household.  What was it like being an immigrant growing up in New Jersey?  What money-related conversations did Rocky overhear when he was young?  Rocky Lalvani talks about having a T. Rowe Price account and chasing the American Dream.  How did Rocky Lalvani transform to focusing on having a richer soul?  How do you know that you are living your own definition of success?   In what ways does Rocky encourage his children to know the options of career paths without being too forceful?   What is a great way to network with people far ahead of your current career status?  What does being a financial coach look like to Rocky?   How do you narrow down your opportunities?   When the values are clear the decisions are easy.  What does an optimal situation look like for a good mastermind group?  What would Rocky Lalvani say to someone that is pushing to build up their wealth?    3 Key Points: Automate your savings to build your financial portfolio.  When teaching your children how to handle finances, give them the chance to fail.   Every week reach out to people that are 5-10 levels ahead of you in your industry and pick their brains.      Tweetable Quotes: “I’m naturally thrifty. So, I negotiate everything. I save money. I got out of college with no debt. I figured out how to pay for college while going through college.” – Rocky Lalvani “If you expect your kids to be able to handle wealth, you have to teach them how to do that when they are young, and you teach them by giving them money and letting them make choices.” – Rocky Lalvani “Someone buys bigger, better and now you start to say, ‘I need bigger better,’ and you get on that whole hamster wheel. It just got to be crazy. What I wanted more so was freedom. Time freedom and financial freedom.” – Rocky Lalvani   Resources Mentioned: Linkedin: John Chapman Rocky Lalvani: Linkedin Richer Soul: richersoul.com Profit Comes First: profitcomesfirst.com

John interviews Dr. Loretta Breuning, Founder of the Inner Mammal Institute, Author of Habits for a Happy Brain and The Science of Positivity. Dr. Loretta Breuning explains why humans are wired to promote survival over happiness, good and bad brain chemicals, breaking bad habits, and valuable advice on how not to take things for granted and understand how our inner mammal brain really works to live a happier life.    Episode Highlights: Dr. Loretta Breuning introduces herself.  What are some of the prevailing thoughts that she once held to be true? What were some of her early days like in her work?  Dr. Loretta Breuning shares ways we are wired to promote survival over happiness.  What are some of the good and bad chemicals in our brain that we should be aware of and their effects?   Why does Dr. Loretta Breuning call serotonin the ‘one up feelling?’ What do we do to ourselves when we don’t understand our own brain? What are endorphins, which are triggered by real pain?  What does it take to break a bad habit to rewire our brain? Dr. Loretta Breuning  shares ways to not taking things for granted.   3 Key Points: ‘Niceism’ is the idea that if you are nice to other people they will be nice to you...which is not true.  We are designed to promote survival over happiness. A habit is the expectation of a reward and an expectation is a real physical pathway.      Tweetable Quotes: “I settled on the brain chemistry of animals because it was so surprising to me that our good feelings, our motivations, come from brain chemicals that are the same in animals and are managed by the same brain structures.” – Dr. Loretta Breuning “If you put on iron in the fire, then you know in 100 days you will have 100 irons in the fire. And everyday one of them will heat up but you can't predict which one.” – Dr. Loretta Breuning “We’re all wired by our past pain and what makes us different from animals is the human cortex can anticipate future consequences. So, anything that hurt us in the past, we anticipate that so we can avoid it.” – Dr. Loretta Breuning   Resources Mentioned: Linkedin: John Chapman Dr. Loretta Breuning: Linkedin | YouTube Inner Mammal Institute: innermammalinstitute.org Book: Habits for a Happy Brain by Dr. Loretta Breuning Book: The Science of Positivity by Dr. Loretta Breuning

John interviews Alex Talcott, who is an adjunct professor of finance at the University of New Hampshire, a Managing Partner at Seacoast Financial Network, a real estate investor, and father of 3 young children. Alex and John discuss a range of topics from law, academics, personal finance and theology, so sit back and hold on to your seat while you enjoy this conversation.   Episode Highlights:   Alex Talcott talks about teaching finance and business law at the University of New Hampshire and Great Bay Community College, as well as his businesses.  Where did Alex grow up and what was money like?    How did Alex decide he wanted to pursue law?  How did he pivot into financial services? What stands out about working with clients?  Alex Talcott talks about his experience as being an adjunct professor.  How much material is prepackaged for the classroom and how much is created by Alex?  What areas does he find himself spending the most time on?  What has it been like working with clients in the pre-retirement phase or the retirement phase?  How has Alex learned to prioritize things in his life?  How is he defining success for himself in the next 10 years?    3 Key Points:   Alex Talcott has noticed that some financial professionals in some places are selling products that they don’t fully understand. As an adjunct professor, Alex benefits from the saying, ‘teachers often learn the most in the classroom.’   Alex Talcott lets his students know that at an upwards of 50% of course content is going to be current events ripped from the headlines to put the students and himself on the spot about issues of the day before they are resolved.    Tweetable Quotes:   “I’m able to tell people that whenever you see me I’m where I want to be. So, I’m able to be fully present. There is nowhere I would rather be than on campus with my students and talking with a dear friend over the phone now.” – Alex Talcott  “I think one of the untold stories about law school is that a lot of the work coming out of law school is insurance defense.” – Alex Talcott  “I don’t like to taint what law and finance is about. It is mostly helping to facilitate communication and trust and moving forward and building wonderful things.” – Alex Talcott      Resources Mentioned: Linkedin: John Chapman Alex Talcott: Linkedin | Facebook Academic Approach to Finance: Alex.Talcott@unh.edu Seacoast Financial Network: Alex.Talcott@ampf.com Seacoast Financial Network: seacoastfinancialnetwork.com Seacoast Financial Network: AlexTalcott.com Real Estate: Lexdanre@gmail.com