Ride Your Money Wave

Matt M. is on the road to wealth.  At the age of 19, he already has $55,000 invested in the stock market.  Matt walks us through how he did it and what his plans are moving forward. 

Why I don't care about GME, AMC, or any of the noise happening in the market right now.  

The title says it all - 2 Steps to a Financially Successful 2021.  2020 was a rough year for everyone but somehow, my net worth increased 28%.   How?!  I attribute it to two things I did and share those with you in today's podcast. 

With Christmas around the corner, tis the season to want.  However, how healthy is that in our pursuit of happiness?  

Hey, it's me, Brian.  I know, I know...where have I been since July?  Dealing with my own money issues, if you must know.  In this podcast episode, I come clean about how my relationship with money got a little unhealthy and what I am doing to fix it.  

Years ago, Nolan sat in on a workshop I hosted, teaching students about money.  It was only an hour long but it was just enough to plant a seed in Nolan.  Since then, we have touched base with each other every few years when new financial opportunities - setting up Roth IRA, first 401(k) - came up.  When he emailed me to share some financial news with me, I thought it would be a conversation worth sharing.  

Last week, I had the opportunity to bring Andy Hill (virtually) into the studio to talk about money.  He had a remarkable financial journey going from -$50k to being a millionaire in about 10 years.  We speak openly about the role of money in our lives, our goals, and even our money mistakes.  Be sure to check out his podcast, Marriage, Kids, and Money.  

This has been a crazy few months for the world, economy, and stock market.  It seems like the economy has decoupled from the stock market, which begs the question: is this a good time to invest?  

Kevin O'Leary suggests we have $100,000 by the age of 33 years old.  He is so kind and wonderful, he will even give us to 35!  How nice of him.  Is it realistic?  Here is my take. 

Wealthfront used to be a fantastic platform to invest through, especially for young or low-income investors.  Now, the platform has changed.  

A received an email from Tomas, a real estate agent in Portland, Oregon (Keep Portland Weird!) asking me about what advice he should give his kids.  They are about to be sophomores in college and have $10k saved up and are working throughout the summer and throughout their college years.  

Sorry everyone, it has been a while.  In this episode, I bring you up to speed, reflect on Covid-19, and explain why focusing on progress is key.  

I have been reading so many people complain about the lack of financial literacy being taught in school.  There is an element of truth to that, but only an element.  The information is out there.  YouTube, apps, podcasts, blogs, websites, books...you name it.  A million ways to make a million bucks.  But, what do all of them have in common? A solid foundation.  A budget is a solid foundation.  Take a listen as to how a millionaire's budget differs from everyone else's. 

Well if that isn't a clickbait title, I don't know what is.  But, it is true...it took me about 10 hours of paperwork in total and I set up a passive strategy to make an extra $580,706.  

More and more people I talk to do not utilize a Roth IRA.  This investment account is going to become more important as the years go on IF our government decides to raise taxes to pay down our debt...you know, what a responsible person is expected to do.  

Here is the deal, a little misinformation when it comes to money can have drastic and a lasting impact on your finances.  That is why, it is so important to know how money, and all the markets around it, work.  Here, I clear up a few money myths that listeners emailed me.   

Lesson: (habits x a little money) + patience = millions 

Here is the beauty about money and success...it isn't genetic.  You can study it, practice it, and grow it.  Markets don't care who you are or what your name is.  That is refreshing because that means that anyone can become wealthy.  To help you on your journey, here are my top 10 best financial decisions.

This one hurt.  It was slightly embarrassing.  But, that is how we learn, no?  Today's episode I talk about my five worst financial decisions.  What do almost all of them have in common?  Ego.  

Change is tough, especially change you don't see coming or have any control over.  In this episode, I examine three things I implemented to make my Covid-19 quarantine to be as productive as possible.  

Whether it is a tax return, a small inheritance, or a stimulus check, getting unexpected money can lead to a lot of unnecessary wants.  Here, I explain the best ways to spend your stimulus check. 

On today's podcast, I examine my five favorite books on money that changed my views and therefore, changed my life. 

A podcast listener emailed me asking for some advice.  In short, he got a later start on his financial journey.  35 years old and $0 net worth.  The good news is, he is ready to make changes and work.  He is hungry...and that is all you need to differentiate yourself from everyone else.  On this episode, I go through his numbers  and give him some actionable steps to take to start developing his own money wave. 

What a crazy, bat sh*t month this has been.  Is 2020 offering any refunds?  Since this whole economic shut/quarantine, I have been pivoting my business and my time.  Recently, I turned the microphone off and the camera on.  Yep, I brought RYMW to YouTube.  My brother suggested that I talk to my audience, to the demographic of people who I think are watching.  So here you go, 10 Things I Wish I Knew in my 20s.  Funny thing is, only one deals with money.  Be sure to subscribe to the YouTube channel and share with your friends. 

Tracy emailed me stating that she is getting serious about her money but is afraid to invest her money in the stock market.  She is looking for a little advice as to where to start.  In this episode, I gave her a few of my ideas.  

Two weeks ago, I got a check for $36,000.  ($36,125 to be exact.)  Following two simple principles - you want your money to work for you and it is better to make one BIG great decision than 1000 smaller good decisions - I spent all $36,000 in a single day and don't regret it.  What did I buy?  Take a listen and find out. 

The secret to becoming rich?  There is no secret, just behavior insights.  

Do you ever get frustrated because you can't find the time for something you value?  Working out, reading, and this podcast has been subject to that frustration for me.  Luckily, I have changed the structure of my day to account for these important things.  I have had the best of intentions to buy life insurance for the past two years.  Yesterday, I woke up and made it happen.  Why?  Take a listen and find out. 

Hello 2020!  First podcast of the year.  This one comes from a conversation card that I was asked while on a trip to London.  My music "career" plateaued despite my love for it.  Why?  The answer, when applied to finances, can make you a "rockstar."

Last night, I had a big purchase.  It made me feel something I haven't felt in years.  Today, I talk about what it was and what I learned from it.   

I'm back!  Sorry about that.  Last two months have been doozies for a multitude of reasons.  I fell off the podcast bandwagon there for a bit.  Luckily, I carved out some time this evening to sit down and share some thoughts about the high cost of wealth.  In short, wealth is accessible, but few achieve it.  Why?  Because of what the ticket to wealth costs...

Today's podcast is a special one for me - I sit down and talk with my cousin Nate, who started his financial journey at the age of 18 by opening up a Roth IRA.  He talks about how he was able to put savings first, even in college, and max out his Roth every year since he opened it.  Now, he balances the needs of his financial future with living a fulfilling life today.  Be sure to stick with the episode all the way to the end; there are some gems of insight in the last 5 minutes.  

Today, I sat down with Colleen, owner of Silver Bean Events, a wedding and event planner in Metro Detroit.  At 26 years old, she has already amassed a net worth of $60,000, is setting goals and teaching herself about investing and personal finance.  We talk today about how she got there and I answer several of her questions at the end of the show.   

I just came back from a week in California, climbing in Yosemite and sipping wine in Napa.  It was amazing.  I had a special moment where I felt in complete harmony, living my best life.  Today's podcast is about that moment and what you can do to live your best life. 

It has been a while since I have had time to podcast.  (You can blame my photography schedule.)  Anyway, I gave a speech the other day to a group of industry professionals and it was interesting to see where we all were in our financial journey.  One thing became clear though: money truths are applicable at all ages.  The truth behind getting wealthy is applicable at any age and can be implemented at any age.  On today's podcast, I recap the 4 Rules of Money and what steps you can take to implement them.   

In today's podcast, I discuss some financial statistics and why your earliest decisions are your most important decisions.  Also, I answer a listener email about what are some of options to make passive income. 

On today's episode, I talk to Angjela about her current financial state and what decisions she should make.  She recently graduated graduate school with a degree in Mechanical Engineering and zero student loan debt.  She accepted a job working for Southwest Airlines but doesn't know what her next financial step should be.  Luckily, we were able to create a plan before she got her first paycheck, so she can build her life and career around financial stability.  

One of the listeners to the podcast emailed in and offered a few suggestions of topics to cover.  First up: why is debt bad and how should you go about paying it off?  

You may have noticed the past couple weeks have been light on the podcast.  Why?  Because I kept failing.  Today, I talk about how I beat my funk and got back into the swing of things.  

Michael Tindall joined the podcast again to talk about the basics of personal finance.  This is a great place to start if you are looking to learn more about your first steps in managing your money.  

In one of my most transparent interviews, John from ESI Money talks about why he retired at the age of 52 (and how he could have retired at 42).  John talks about why your career is your number one and often times, most overlooked, asset and how he utilized the skills he acquired in his career to build lucrative side hustles.  John truly is riding his own money wave and has even increased his net worth while in retirement by a 6-figure amount.  Listen in and be sure to check out ESIMoney.com  

I came across a statistic that only 24% of Millennials are financially literate.  I wanted to see if I was too.  15 questions later, I think my mom would be proud.  You can take the quiz too here.  

This week, I sat down with three Millennials to talk about money: how they handle it, what are their goals, why are we so reserved about talking about money, and more.  The talk is open, candid, and honest.  Enjoy! 

Last week, I was sitting at Starbucks doing work when a group of women walked in carrying fliers for an upcoming 4.01k race.  I asked them what it was all about, and it turns out it is a walk/race to help raise money for the Boys and Girls Club of Oakland and Macomb Counties.  The best part is, after the race the kids is "Wellabration" where kids get to learn about the power and importance of personal finance.  I sat down with Alma Ko, Marketing and Engagement Coordinator at Cambridge Consulting, a sponsor of the event, to talk about the race.   

My friend John sent me a financial article titled "25% of Millennials no longer having sex due to financial problems."  Naturally, that peaked my interest.  Can money really affect your sex life? It turns out the article was as clear cut as I thought it would be, but it did bring up an interesting point: it is harder to get by today than it was in the past.  Having said that, I discuss some bold moves you can make today in order to set yourself up for a abundant financial future. 

Adam Smith was on to something when he warned us to be aware of the relaxation of rules and how it can lead us to make bad decisions.  The same is true when it comes to personal finance - keep your rules simple, black-and-white, and never deviate from them - and you should end up wealthy in the end. 

Last week, Ride Your Money Wave turned 1!  Whoo hoo!  I took a moment to reflect on what the podcast has taught me and what common trends I hear in the stories of my guests as it relates to success.  Also, my wife, Becky, joined me on the podcast to discuss all things money - her relationship with it, how we handle money in our relationship, and more.