Podcasts about diversify

One income stream is not security. It is a single point of failure. In this episode of The Level Up Podcast, Paul Alex breaks down why relying on one client, one platform, one product, or one channel can put your entire business at risk. Let's be real… If all of your revenue comes from one client… One algorithm… One offer… Or one traffic source… You are not truly protected. You are exposed. In this episode, you'll learn: Why a single revenue stream creates massive vulnerability How one platform change or client loss can destroy an unstable business Why multiple income pillars create stronger financial security How diversification gives founders more confidence, leverage, and peace of mind The truth is simple: True wealth is not a single thread. It is a web. A strong business has multiple ways to generate cash flow. Multiple ways to acquire customers. Multiple products or services that support the mission. Multiple pillars that keep the company standing if one gets hit. High-level operators do not build their entire financial house on one pillar. They spread the risk. They create backup systems. They build complementary channels. And they protect the foundation before the storm ever comes. Because when your income is diversified… Your posture changes. You negotiate stronger. You lead with more confidence. You sleep better at night. Build the web. Protect the cash flow. Diversify the revenue. And keep leveling up. Your Network is your NETWORTH! Make sure to add me on all SOCIAL MEDIA PLATFORMS: Instagram: https://jo.my/paulalex2024Facebook: https://jo.my/fbpaulalex2024YouTube: https://www.youtube.com/channel/UCGhDAD1JyGGzSQUPD9lc9HQLinkedIn: https://jo.my/inpaulalex2024 Looking for a secondary source of income or want to become an entrepreneur? Check out one of my companies below to see if we can help you: www.CashSwipe.com FREE Copy of my book “Blue to Digital Gold - The New American Dream”www.officialPaulAlex.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Diversifying income streams, building community, and personal storytelling with Rebecca Blackwell. ----- Welcome to episode 576 of The Food Blogger Pro Podcast! This week on the podcast, Bjork interviews Rebecca Blackwell. Last week on the podcast, Bjork chatted with Jenna Arend. To go back and listen to that episode, click here. How Rebecca Blackwell Turned Food Blogging into a Six-Figure Digital Business from an RV Rebecca started out as a food blogger, but somewhere along the way, she traded a stable paycheck for a life on the road, running her digital business full-time from an RV! In this episode, she opens up about what that transition actually looked like: the risks she took by leaving a steady job, how the RV lifestyle reshaped her thinking about work and creative freedom, and why she made the strategic decision to manage multiple websites rather than rely on a single income stream. The conversation also gets into the community side of Rebecca's business. Specifically, how she's used Substack to build genuine connections with a growing audience of food writers. She shares practical advice on growing a newsletter, engaging readers, and landing sponsorships that feel like a natural fit. You'll also hear her talk about how she's navigating the challenges of AI and shifting search algorithms, why leaning into personal storytelling has been her biggest differentiator, and what she's learned from building community through mastermind groups and in-person retreats. Three episode takeaways: Diversify your income streams: Branching out to different avenues instead of relying on a single blog or platform gives you more creative freedom and financial stability, especially important in an era of unpredictable algorithm changes! Personal storytelling is your biggest differentiator: As AI and search engines continue to evolve, what sets your content apart isn't information. it's your unique voice, perspective, and lived experience. Rebecca's journey from food blogger to RV-dwelling digital creator is a perfect example of a story no algorithm can replicate. Community is a growth strategy: Whether it's building a newsletter on Substack, joining a mastermind group, or hosting retreats, investing in genuine relationships with your audience and peers pays dividends that go far beyond traffic and page views. Resources: A Little and a Lot Of Batter and Dough Rebecca's Substack: Let's Get Lost Tiny Shiny Home Designing Your Life Substack Mastermind for Food Writers The Food Writers Business Lab Kit Follow Rebecca on Instagram here and here Join the Food Blogger Pro Podcast Facebook Group Thank you to our sponsors! This episode is sponsored by Member Kitchens. Learn more about our sponsors at foodbloggerpro.com/sponsors. Interested in working with us too? Learn more about our sponsorship opportunities and how to get started here. If you have any comments, questions, or suggestions for interviews, be sure to email them to podcast@foodbloggerpro.com. Learn more about joining the Food Blogger Pro community at foodbloggerpro.com/membership.

Send us Fan MailWe unpack why motivation collapses after a setback and how to stop treating your biggest goal like a single risky bet. We use a “goal portfolio” system so your momentum survives bad weeks, missed deadlines, and slower seasons without burning out. • framing lost momentum as a goal design problem, not laziness • using an investor mindset to diversify motivation and reduce risk • building a blue chip long-term vision that aligns with your values • creating dividend plays with daily and weekly wins you control • adding a hedging goal to protect identity and emotional well-being All you have to do is click the link below Drop it in the comments section Make sure that you subscribe so that you don't miss what's next  To Reach Jordan:Email: Jordan@Edwards.Consulting Youtube:https://www.youtube.com/channel/UC9ejFXH1_BjdnxG4J8u93ZwFacebook: https://www.facebook.com/jordan.edwards.7503Instagram: https://www.instagram.com/jordanfedwards/Linkedin: https://www.linkedin.com/in/jordanedwards5/Hope you find value in this. If so please provide a 5-star and drop a review.Complimentary Edwards Consulting Session: https://calendly.com/jordan-edwardsconsulting/30min 

In this week's episode, we take a look at eight reasons to diversify your ebooks sales beyond just Amazon and Kindle Unlimited. This coupon code will get you 50% off the audiobook of Dragonskull: Wrath of the Warlock, Book #7 in the Dragonskull series, (as excellently narrated by Brad Wills) at my Payhip store: WARLOCKJUNE The coupon code is valid through June 22, 2026. So if you need a new audiobook this summer, we've got you covered! TRANSCRIPT 00:00:00 Introduction and Writing Updates   Hello, everyone. Welcome to Episode 306 of The Pulp Writer Show. My name is Jonathan Moeller. Today is June 5th, 2026 and today we'll discuss eight reasons you should diversify your book sales beyond Amazon. We'll also talk about Coupon of the Week and give a progress update on my current writing, publishing, and audiobook projects.   So let's start off with Coupon of the Week. This week's coupon code will get you 50% off the audiobook of Dragonskull: Wrath of the Warlock, Book #7 in the Dragonskull series (as excellently narrated by Brad Wills), at my Payhip store. That coupon code is WARLOCKJUNE. As always, the coupon code and the links to my Payhip store will be available in the show notes for this episode. This coupon code is valid through June 22nd, 2026, So if you need a new audiobook for the summer as you go on a summer road trip, we have got you covered. Now let's talk about my current writing, publishing, and audiobook projects. As of this recording, I am 80,000 words into Blade of Thieves, which puts me in Chapter 17 of 25 of my outline. So we're closing in on the end. I think we're going to be about 110-115,000 words or thereabouts in the rough draft. So hopefully a couple more solid pushes and we'll get there to the end. I hope to be at 90,000 words by this point, but there is quite a lot to do in real life so we didn't quite get there, but 80,000 words is still better than nothing. For Cloak of Frost, as of this recording, I am now 9,000 words into it and that will be my main project once Blade of Thieves is done. I was hoping to have Blade of Thieves come out in June, but July is looking more likely at this point. Hopefully Cloak of Frost will come out the month after Blade Thieves comes out, whenever that is.   In audiobook news, I'm pleased to report that Blade of Wraiths (as excellently narrated by Brad Wills) is now out at all audiobook platforms. Get it at Audible, Amazon, Apple, Google Play, Kobo Books, Chirp, my own Payhip store and all the usual audiobook stores. At the moment, I have no other audiobooks in active production, but once Blade of Thieves is done, Brad will also be recording that. Later this month, Hollis McCarthy is scheduled to start on Cloak of Worlds and in July, Leanne Woodward is going to record Dragon-Mage, the most recent Rivah book. So we don't have any audiobooks being produced right now, but we will in the future. So that is where I am at with my current writing, audiobook, and publishing projects.   00:02:32 Main Topic of the Week: Beyond Amazon: Reasons to Diversify Your Sales Platform   Now onto our main topic this week, Beyond Amazon: Reasons to Diversify Your Sales Platform, which is something you know I do quite often given how often I talk about my links to my Payhip store on this very podcast.   For a long time, the conventional wisdom has been that Amazon has 80% of the US book market and putting your ebooks into Kindle Unlimited was the best route of success because of that monopoly and some of the algorithmic benefits Amazon gives to KU authors. While it's true that certain genres (especially LitRPG and romance) are almost exclusively focused on Amazon and KU in the US, going exclusive with Amazon is not necessarily the best course of action for everyone, especially if you're interested in growing your international sales.   Today we'll talk about reasons why putting your books in KU is limiting and in the interest of fairness, in two weeks, we will also be doing an episode later [about] when putting your book in KU is a good idea and some of the benefits of that. But today we're going to start with the benefits of diversification. Here are eight reasons you might want to consider moving beyond just Amazon, which is often called going wide in the Indie Publishing world. #1: Increasing your global reach.   It may surprise you to know that the Kindle store is not available in every country and that other countries have a strong competitor to the Kindle store. For example, in Canada, Kobo is Amazon's main competitor and has traditionally a strong market share there, quite a bit larger than Amazon Canada based on my own sales data. Kobo is also very strong in many European markets. Additionally, because there are many more Android users internationally than there are in the US, Google Play Books is important in non-US countries. It's also an easy platform for users and integrates into the Google ecosystem as well. Data usually finds that while the iPhone [iOS] is dominant in the United States, Android tends to be the majority mobile operating system in the rest of the world. So if you want to access Android users in the Google Play Book Store, then you want to be on Google Play Books. #2: Some people are boycotting Amazon.   There are many readers who boycott Amazon or American-led companies for a number of reasons. It is possible to overstate the strength of these. I've seen many people be alarmed about Amazon boycotts impacting their sales, but it never really seems to materialize. I suspect a lot of the boycotting thing is much louder online than it is in real life. That said, it is undeniable. There are people who will not buy ebooks or anything from Amazon for a variety of reasons. So if you sell your books only through Amazon, you're missing out on that group of readers. Some categories of romance have also been affected by Amazon boycotts, so it's worth investigating other options if you're an author in these categories.   #3: Kobo Plus.   Kobo offers a subscription program called Kobo Plus that unlike KU, does not require exclusivity to participate in it. Over three million ebooks and 100,000 audiobooks (quite a few of which are mine) are available to subscribers for less than the cost of a KU subscription. Kobo has been gaining popularity in the US in part due to their subscription program. I have to admit my own personal experience with Kobo Plus as an indie author has been almost entirely positive. When it first came out, I was a little leery of it, but then I decided to test it out by putting Frostborn into it and that did quite well and I was pleased enough with the results that now I just put everything in Kobo on Kobo Plus and that has paid off because the majority of my month to month Kobo revenue and the majority of my yearly Kobo revenue comes from Kobo Plus now. In March and April, I had two of my best months ever on Kobo in the 14 years I've been publishing with Kobo entirely off the strength of Kobo Plus. So my experience with it has been if you write a really long series like that that generates a strong read through (like Frostborn is 15 books, Sevenfold Sword was 12 books, Cloak Mage as of this point is up to 14 books), then it would be definitely advantageous to you to investigate Kobo Plus.   #4: It gives you the chance to support independent booksellers through bookshop.org.   This past year, bookshop.org made a deal with Draft2Digital that made it possible for indie authors to put their books on the bookshop.org platform. In the past, has not been particularly easy or straightforward for small indie bookstores to sell ebooks, so this is an opportunity for physical indie bookstores based in the US. For American readers who want to shop local but still read ebooks, it's nice to be able to offer them an option that benefits their local communities. It also gives these bookstores a way of supporting local authors without having to find physical space for them within the store itself. Bookshop.org is still in the early stages of accepting indie ebooks and there are some things that need to be worked out with features on their app, especially about user complaints about a lack of flexibility with DRM-free e-books. Still, romance and what the site calls "serious nonfiction" are growing rapidly on the platform, so it's definitely worth exploring, especially for authors in those categories. If they do succeed in their plans to put out their own ereader, that would make the platform even more attractive to many book buyers.   #5: Direct sales equals greater profit, extras, price fixability, et cetera.    Having your own sales platform (typically hosted on sites like Payhip and Shopify) gives you far more control over your sales platform. It also gives you a far greater cut of the profits. To give an example, if I do a coupon code for one of my audiobooks on my Payhip site to make it 50% off like I did earlier in this episode with the Dragonskull: Wrath of the Warlock coupon, I still earn a similar amount as if someone had bought it for full price on Audible.   A direct sales platform also allows you to create discounts for sales far more easily than on other platforms. Additionally, you don't have to wait for ebooks or audiobooks to get through processing on a direct sales site like you do with ACX and the other sites, which makes when a book or audiobook is ready for sale far more predictable. You can also bundle things with ebooks like such as the book file in multiple formats or bonus items like maps, worksheets, or charts. On the other ebook sites, this isn't typically possible. Direct sales gives you a greater flexibility in terms of selling. You can include bonus items and it's also a good fallback position if one of the main sites isn't working. I first got into direct sales in 2021 because Barnes & Noble had its big ransomware hack then and for a while it was impossible to publish new things to the platform and I believe that was when Ghost in the Vault came out and since I couldn't publish that on Barnes & Noble until the ransomware problem was fixed, I directed people to the Payhip site instead.   #6: Library sales and Kindle Unlimited.   The popularity of the Dungeon Crawler Carl series and the Project Hail Mary audiobook made a lot of people aware of the fact that exclusivity agreements with Amazon and Audible have often been structured to leave out options for library ebook platforms or require maneuvering or additional deals in order to make it possible. The popularity of Libby in particular is growing here in the United States, especially as people are having to shift their leisure spending from things like books and entertainment to covering basic necessities like housing, transportation, fuel, and food costs due to the poor state of the economy. If library sales and library readers are important to you, then going wide is your best option for reaching the library market.   Myself, I haven't particularly pursued the library market. I haven't refused it either. I usually, when the option is available, click on the toggle switch to publish it to a library service, but then don't think about it very much after that, but there are many indie authors who are very interested in getting in libraries and have pursued that quite a bit through these programs.   #7: Vendor lock-in/user preference.   There is a concept called vendor lock-in, meaning that ebook buyers have a particular platform that they default to when buying ebooks because that is where the ebook collection is based and they want to keep their books together instead of spread across several different apps. Many Barnes & Noble and Kobo users are not interested in ebooks from Amazon or KU for this reason and won't even follow a favorite author to another platform. It's important to have an option available for these readers.   #8: DRM free. [Digital Rights Management]   Having a DRM free copy of an ebook is extremely important to many readers and that is what makes an ebook purchase a true purchase instead of a highly conditional license. Sites like Kobo allow ebook buyers to limit their searches to only DRM free titles and many will not buy a book that is not available without DRM. My Payhip store, all the files you get from that when you buy an ebook or an audiobook are DRM free as well.   For myself, a large portion of my sales come from outside Amazon, so that's why I've never been fully exclusive with Kindle Unlimited and instead rotate a small selection of my series in and out of KU. Over the years, I've experimented with having various books in KU and starting in 2023, what I settled on doing was that I would write three series ongoing. Two of those series would be available on all ebook platforms and one of those series would be available in Kindle Unlimited, which allowed me to pursue both markets at once. As of right now, the wide series are Blades of Ruin and Cloak Mage and the Kindle Unlimited series is Half-Elven Thief. Once Half-Elven Thief is completed, I will take it out of Kindle Unlimited and take it wide and start a new series for Kindle Unlimited.   Overall, I found it's worthwhile to be wide even when pursuing Kindle Unlimited with some of my books because typically in an average month about 45 to 55% of my revenue comes from Amazon and the rest comes from all the other platforms put together. So while Amazon is typically half, that's not nothing, it's only half and the rest of the revenue comes from all these ebook platforms I've been cultivating over the years. So the conclusion is that the beauty of KU's current agreement is that you only have to commit to being exclusive for a short amount of time, specifically three months, and then can always return to it if you want to try going wide for a while.    It's also important to note that growth on other platforms may be slow and if you're going to try them out, it's important to be patient and have realistic expectations. It's the benefit of being an indie author that we can experiment and make decisions quickly based on data and reader preferences. Going wide may not be the best decision for everyone, but the results may surprise you, especially over time.   The cumulative effect of things is often easy to overlook, but it does add up over time. Part of the reason I think my books do so well with Kobo Plus is because they've been on the Kobo website for the last 14 years, which gives them time to accumulate reviews and additional word of mouth. So when someone is browsing Kobo Plus for something to read and they see this long book series with a bunch of good reviews, it becomes easy for them to try it through Kobo Plus.   So that is it for this week. This week we talked about going wide. Next week I don't have time to record a full-time episode, so we're going to do another audiobook sampler roundup, which will be fun. The week after that, in two weeks from today, we are going to talk about the benefits of going to Kindle Unlimited as a contrast to this episode and I will talk about some of my Kindle Unlimited experiences (both good and bad). So thank you for listening to The Pulp Writer Show. I hope you found the show useful. A reminder that you can listen to all the backups at https://thepulpwritershow.com. If you enjoyed the podcast, please leave your review on your podcasting and platform of choice. Stay safe and stay healthy and we'll see you all next week.  

Crit Thomas says it's concerning that AI is driving most of the market and creating heavy concentration in tech. While emerging markets and top performing sectors appear diversified, Crit warns that market gains become narrow once removing a top three name. He offers his advice on staying protected from a potential reversal. ======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

What if the fastest path to doubling your NEMT revenue had nothing to do with Medicaid? In this episode of Inside the Lamp, NEMT consultant and sales expert Joe Siddle joins RouteGenie Co-Founder and Growth Partner Jonathon Anthon to share the exact strategy he's used to help NEMT providers break into school transportation contracts and unlock a whole new revenue stream.Joe walks through his proven approach to winning school contracts, including a real-world example of 40 daily trips translating to $200K a month in additional billing. He covers how to research your market, size up the competition, close the deal, and why saying "yes" to opportunities outside the typical NEMT lane builds the kind of reputation that compounds over time.Jonathon also shares the RouteGenie features that make scaling into student and non-NEMT transportation actually manageable, from contract templates to passenger app notifications.What you'll hear:0:47 Joe Siddle's background2:16 The step-by-step process of an NEMT consultant4:33 Post-sale marketing and contract execution8:59 RouteGenie features that make growing your business easier12:08 RouteGenie templates for non-NEMT transportation12:53 RouteGenie passenger app and notifications13:54 How to reach Joe SiddleWant to be a guest on Inside the Lamp? Fill out the invite form: https://forms.gle/dATuK6brMqghWBpw7Want to see how RouteGenie helps NEMT providers diversify and scale?Book a demo: https://routegenie.com/get-a-demo/Call: 1 (877) 599-6560Connect with RouteGenie:Facebook: https://www.facebook.com/routegenie/LinkedIn: https://www.linkedin.com/company/routegenie/X: https://twitter.com/theroutegenieInstagram: https://www.instagram.com/routegenie/Disclaimer: The information provided in this episode does not, and is not intended to, constitute legal, financial, medical, or business advice. All content is for general informational purposes only and may not reflect the most up-to-date information.

We are now recording an audio version of written posts that we will upload to Apple, Spotify, and YouTube, which you can listen to by clicking the button the play button above.As the Strait of Hormuz (SoH) Crisis completes its third month and on-again/off-again peace talks drag on, we are starting to see the outlines of various structural themes emerging, and, as importantly, some that are not. Thematically we see the following:* Power Surge! Our Power Surge! super-cycle theme has not only not been knocked off track by the SoH Crisis, but has likely been enhanced based on “the four Ds” of pragmatic energy policy orientation we discuss below. Recently completed 1Q 2026 earnings season shows the AI (artificial intelligence) and broader digital transformation theme is as strong as ever.* Geopolitical Super Vol. Geopolitical Super Vol remains our commodity macro framework, in particular for crude oil prices. Since Russia-Ukraine and through SoH-to-date, we have resisted crude oil super-cycle framings while also, importantly, rejecting perma bear doom-and-gloom. The unforgiving math of global oil demand being forced down to circa 95 million b/d of supply from around 105 million b/d pre-crisis suggests recession is the most likely clearing mechanism rather than a structural increase in long-dated oil prices in the event a significant disruption to flows persists. To be clear, we do see scope for a modest increase in long-end oil on the order of $10/bbl to account for both cost inflation and an increased geopolitical risk premium.* Molecules to markets. In our view, getting molecules to markets is the more pressing strategic imperative for countries than simply trying to find the molecules in the first place. In traditional energy, this puts a premium on well-positioned midstream and downstream assets. In the upstream business, there is always an opportunity to find acreage that is well positioned on the future cost curve. Having a midstream or downstream solution (e.g., LNG) may be an increasing success factor for larger E&P (exploration and production) companies.* New business models > pure-play (for larger companies). The era of extreme pure-play specialization we think will fade, or at least will no longer be the dominant ask of investors. Business model evolution is likely to continue to separate leaders from laggards. Examples we find intriguing include pressure pumpers and midstream companies diversifying into behind-the-meter (BTM) power, US shale gas producers expanding into midstream and potentially LNG, refiners that have grown midstream capabilities, midstream companies that have grown export opportunities, and the expanded commercial trading opportunities that larger companies have pursued. The list is growing.* Brownfield > greenfield (usually). The advantage of doing more from existing assets is something both countries and companies have in common. Brownfield almost always beats greenfield on profitability and speed-to-market, though a best-in-class greenfield project like Guyana oil is the type of exception that exists to the general rule.From an energy policy perspective, the Strait of Hormuz Crisis reveals what we are now calling the four Ds of country-level energy policy aspiration:* Do as much Domestic production as possible;* Diversify energy sources and technologies;* Do more from existing assets; and* embrace Digital transformation and AI.Subscribe to Super-Spiked to receive all content via email. Also available on https://veriten.com.The Four Ds of Pragmatic Energy PolicyThe four Ds are the pragmatic policy implication of country leaders recognizing energy's natural hierarchy of needs (Exhibit 1). On the right side of Exhibit 1, we rank (higher on list is better) resource rich countries and resource challenged areas in terms of federal policy orientation that recognizes energy's natural hierarchy of needs and implementation of the four Ds relative to a given country's strengths and weaknesses.Saudi Arabia and United Arab Emirates among resource rich regions and China among resource challenged areas we see as having favorable federal energy policy orientations. Laggards are not surprising: Western Europe, California, Canada, and Australia. What KSA, UAE, and China have in common are national leadership that emphasizes the ideas of “all of the above,” maximum (or optimal) output of what you can control, and unapologetic “their own country first” mentalities.Super-Spiked subscribers know we have a very favorable view of Canada's oil and gas potential and the leading companies in the province of Alberta. We had an unfavorable view of the federal energy policies pursued by the prior Trudeau regime, with the jury out on the current Carney administration. On the latter, we appreciate that the rhetoric has improved off a low starting point. The proof will be in the policy implementation pudding.No country should aspire to follow the path of California or Western Europe and their “climate first” ideology (dishonorable mention goes to many states in the US northeast). Sadly, poor energy policy choices made in those areas are going to mean that less fortunate consumers and businesses in developing Asia suffer from being outbid for needed energy like LNG, jet fuel, and diesel during times of stress, as we last saw in the early days of Russia-Ukraine. It has been some time since we have done a deep dive on Australia; our sense would be that it is in the Canada category of having substantial oil and gas resources that the world would massively benefit from, but is being held back by ill-advised climate-first ideology by its national leaders.Exhibit 1: A Hierarchy of Energy Needs & Country Policy Objectives and OrientationSource: Veriten.Doing More From Existing AssetsIn previous issues of Super-Spiked, we have discussed three of the Ds: do as much domestic production as possible, diversify energy sources and technology, and embrace digital transformation and AI. Therefore, in this post we will expand on the “do more from existing assets” theme.* A major advantage the developed world has over China, India, and other developing areas is a large installed base of assets and infrastructure. Prematurely retiring old power plants in the name of “energy transition” and “The Climate Crisis” is the type of 2020-2023 mistake that has hurt competitiveness and affordability in the United States and Western Europe. In power generation, we are intrigued with trying to answer the question of how much new generation from legacy sources (e.g., natural gas, BTM, and traditional nuclear) is needed versus how much new generation technology is needed (e.g., fuel cells, enhanced geothermal, advanced nuclear) versus how much can existing grid utilization be improved via flexible loads and various grid enhancing technologies. How much more can we get from existing is important to how much we need from the other two options.* In crude oil markets, we do not believe there is the urgency to figure out “what's next” from a resource perspective as there was in the 2004-2014 super-cycle. To be clear, this comment is intended at the macro level; individual companies are almost always in need of figuring out what's next. Exploration and capital spending is likely to grow but we do not believe the kind of re-rating that happened during China/BRICs is warranted now. Rather we are most intrigued with what companies are doing to extend asset life (i.e., resource to production ratio) via a combination of technology application, business development, and midstream/downstream investment that can ensure molecules get moved to markets and turned into usable end products. Ironically, the Middle East looks like a compelling upstream opportunity for western oil and gas firms, given improved fiscal terms in certain areas. We have long held a favorable view of Canada (our concerns about its federal energy policies notwithstanding) and Alaska. Recent developments in many Latin American countries warrant a fresh look at the region for western players.* The largest areas that seem ripe to “do more from existing” include US shale oil, US shale gas, Middle East oil, Canada's oil sands, Venezuela oil, and developed market power grids.Growth and opportunityThe five areas of energy where we are most confident in growth include:* US and global power generation* Midstream and downstream infrastructure for crude oil and various metals and minerals* Grid enhancing technologies* US and global natural gas* Renewables and storageThe long-term opportunity to grow nuclear power is going to prove to be compelling for many countries, justifying the required patience in terms of time to development. Nuclear is the ultimate baseload, domestic, clean energy source.We remain open-minded about emerging and new energy technologies. We are seeing current growth in fuel cells and optimism about enhanced geothermal on the power generation side of the business. The SoH Crisis will accelerate adoption of electric vehicles and LNG trucks in particular in oil importing countries for diversification and affordability reasons.The success of new business models should diminish investor and activist demand for pure-playsThere is a misperception that investors prefer pure-plays or that investors only want more dividends and stock buybacks. Investors prefer companies that generate superior profitability with differentiated growth. Both are needed to sustainably outperform: profitability AND growth.The challenge in mature, cyclical sectors is that corporate over-enthusiasm for growth usually erodes profitability to the point where investors demand a disavowal of growth in favor of profitability and returning capital to shareholders. To be sure, if structural demand growth for a given commodity is something like 1%-2% per year, the expected growth rates for the largest companies within that sector is unlikely to be any more than +/- 1%-2% of the broader demand trajectory.As businesses mature and growth slows, the demand by investors to focus on sub-parts of the business often increases in order to enhance the combination of per share growth and profitability for a particular business segment. The post-2014 oil super-cycle bust and growth in U.S. shale turbocharged the demand for pure-plays, especially within the traditional oil & gas value chains. Certain pure-play shale oil producers, midstream companies, and refiners in fact performed exceptionally well.Power is clearly in a super-cycle and traditional oil and gas is operating with a Geopolitical Super Vol macro backdrop (a dramatic improvement from the post super-cycle bust phase of 2015-2020) and business opportunities abounding in the different product lines and geographies.SoH Crisis FAQQuestion 1: Has an oil super-cycle begun?Answer: No. Our core view remains Geopolitical Super Vol, not super-cycle.Q2: Have the odds of “peak oil demand” increased?A: No, we don't think so. However, we are concerned that if the Strait remains significantly disrupted that the painful adjustment down in global oil demand could mean that we spend a good part of the remainder of this decade recovering back to pre-crisis demand levels as incremental supply is brought online. In our view, the timing of a more permanent peak in oil demand is unknowable so long as the other seven billion people on Earth continue to use only a fraction of the energy The Lucky 1 Billion of Us take for granted.Q3: Isn't AI and the resulting power demand growth forecasts a bubble waiting to pop?A: No or, perhaps more accurately, not at this time. The fact that numerous stock markets like the U.S. (S&P 500), Japan (NIKKEI), and South Korea (KOSPI) are at or near all-time highs may indeed reflect complacency with the risk of global recession due to the ongoing SoH Crisis. We would differentiate stock market complacency with an AI bubble. We see it in the areas where we spend a lot of time: digital transformation and the application of AI is a game changer for numerous businesses. The stock market may well experience a major correction if the world tips into recession. Whatever short-term setback that might mean for near-term power generation we think would be akin to the Great Financial Crisis hit to oil demand in the middle of the China/BRICs super-cycle of 2004-2014, i.e., it was temporary.Q4: Don't investors prefer “pure-plays” over diversified companies? A: That view is missing our point. Investors prefer companies with competitive profitability and differentiated growth opportunities. The demand for “pure-plays” typically is the result of a mature sector experiencing a structural downcycle and investors being disappointed on both profitability and growth. And for sure, some companies should remain as pure-plays. The larger a company's market capitalization and overall size, the less we think a pure-play business model makes sense, be it basin or geography or asset type or business line. For small-caps and new technologies, the pure-play business model is often logical.Q5: So E&Ps will merge with refiners?A: No, we aren't expecting that type of integration or diversification. A future “integrated E&P” likely means some combination of midstream and commercial exposure as opposed to a historical upstream-refining mix, as an example.⚡️On A Personal Note: Work Hard. Golf Hard.It's been a great three-week stretch of Spring golf ramp-up. 8 rounds in 5 days in and around Troon, Scotland the first week of May and then our NJ club's flagship member-member Governor's Trophy tournament over Memorial Day weekend featuring 45 holes of match play over 2 days. Day 2 of Governor's featured a good Scottish cold snap of low 50s weather and a light drizzle. Glad my rain pants got more work in and happy to be in sunny Houston as I finish writing this.At Governor's you can always see the short-game comfort from the returning Florida crowd versus those that stayed north over what is typically a 4-5 month winter hiatus. I failed to take advantage of part-time Houston residency this past winter and my partner and I didn't win our flight for the first time since 2021. Five 3 puts—FIVE!!!—from yours truly in Round 2 and two more missed make-able putts in Round 3 were seven half-point giveaways we did not overcome. Based on my accounting, my partner cost us only 2 points versus my 3.5, so the disappointing performance is on me. I'll need a stricter winter routine next year.I will say the Scotland golf intensity helped stamina at Governor's. The intensity and deliberate pace of hole-by-hole match play is usually mentally and physically draining. I didn't feel that this year. For future reference: I need to play 36 more often! It forces an easier swing. It improves mental resilience. Seems better than a cold plunge.Does a high level of golf intensity make you a better energy equity analyst, advisor, or board member? For sure it does. There is no question about this. Are we advising our companies to settle for mediocrity? That an 8% return on capital is good enough? That sector average TSR is fine? Of course not.Work Hard. Golf Hard.A Lot of Great Golf In Scotland: Western Gailes Near The Top Of My ListSource: Super-Spiked selfie.The Calm Before The Governor's Trophy StormSource: Super-Spiked.⚖️ DisclaimerI certify that these are my personal, strongly held views at the time of this post. My views are my own and not attributable to any affiliation, past or present. This is not an investment newsletter and there is no financial advice explicitly or implicitly provided here. My views can and will change in the future as warranted by updated analyses and developments. Some of my comments are made in jest for entertainment purposes; I sincerely mean no offense to anyone that takes issue.Subscribe to Super-Spiked to receive all content via email. Also available on https://veriten.com. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit arjunmurti.substack.com

When farmers sell their crops, they usually receive six cents for every dollar you spend on the end product at the grocery store, according to federal data. But a new processing facility is giving farmers a chance to sell a particular crop locally. That could put more money in their pockets.

Surging long-term bond yields underscore our view that traditional portfolio diversification is being challenged in today's macro regime. Beata Harasim, Senior Investment Strategist at the BlackRock Investment Institute, explains why investors may need a Plan B built around broader sources of return.General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0526-5517737-EXP0527

It's a deep dive into the Hidden Gems Investing mailbag as Jon, Matt, and Rachel handle questions regarding international diversification, stocks that have lost momentum, and the changing cybersecurity landscape due to AI. Jon Quast, Matt Frankel, and Rachel Warren discuss: -Magnificent 7 stocks vs international diversification -How to diversify into Japan and India -Stocks that have lost momentum: MercadoLibre and SoFi -The threat to SentinelOne from Anthropic's Mythos Companies discussed: Apple (APPL), Amazon (AMZN), Microsoft (MSFT), Meta Platforms (META), Alphabet (GOOG)(GOOGL), General Motors (GM), Berkshire Hathaway (BRK.A)(BRK.B), Realty Income (O), Digital Realty (DLR), Pinterest (PINS), Walt Disney (DIS), Toyota (TM), Sony Group (SONY), iShares MSCI Japan ETF (EWJ), iShares India 50 ETF (INDY), iShares MSCI India ETF (INDA), Vanguard Total International Stock ETF (VXUS), iShares Core MSCI Total International Stock ETF (IXUS), Vanguard International High Dividend ETF (VYMI), Nestle (NSRGY), MercadoLibre (MELI), SoFi (SOFI), SentinelOne (S), Nvidia (NVDA), Crowdstrike (CRWD), Palo Alto Networks (PANW), Zscaler (ZS) Host: Jon Quast Guests: Matt Frankel, Rachel Warren Engineer: Dan Boyd Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement.We're committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode.Learn more about your ad choices. Visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we'll dive into a fascinating twist on the e-commerce journey — what happens when you buy back the very brand you once sold. Ben will share the lessons, emotions, and strategic insights behind exiting — and then re-entering — your own business. Highlight Bullets> Here's a glimpse of what you would learn…. Ben Leonard's entrepreneurial journey with Beast Gear, from initial investment to seven-figure exit.Challenges faced after selling Beast Gear to Thrasio, including mismanagement and loss of brand identity.Importance of effective inventory management and the consequences of overleveraging.The significance of building a genuine consumer brand beyond basic Amazon tactics.The role of intellectual property protection and the impact of neglecting it.Insights on the operational difficulties during the COVID-19 pandemic and its effects on e-commerce.Strategies for diversifying sales channels and avoiding dependency on a single platform.The importance of quality in products and overall business operations.Marketing strategies for brand awareness, including the use of influencers and social media.Lessons learned from reacquiring and reviving a brand in a competitive market.In this episode of the Ecomm Breakthrough Podcast, host Josh Hadley speaks with entrepreneur Ben Leonard, who built Beast Gear into a seven-figure brand before selling it to aggregator Thrasio. Then buying it back after mismanagement caused revenue to collapse. Ben reveals how Thrasio abandoned the brand-building strategies that drove Beast Gear's success, mishandled inventory, and neglected intellectual property protection. He shares lessons on diversifying beyond Amazon, maintaining product quality, and building genuine customer communities. Ben also discusses his new dad-focused baby carrier brand, Tuco, and offers actionable advice on scaling e-commerce businesses sustainably.Here are the 3 action items that Josh identified from this episode:Build a brand, not just an Amazon listing Engage customers off-Amazon (TikTok, email, events) and create a loyal community—not just traffic.Treat inventory like risk, not just growth Forecast per SKU, avoid over-ordering, and ensure sell-through within ~6 months to prevent cash flow disasters.Diversify early and protect your moat Expand beyond Amazon (Shopify + social channels) and actively enforce IP to protect your brand from copycats.Timestamps:00:00:34 Introduction to the EpisodeThe host introduces the guest, Ben Leonard, and the topic: buying back his brand after selling it to an aggregator.00:02:14 The Brand's Decline Under New OwnershipBen confirms his brand crashed after he sold it to the aggregator Thrasio due to mismanagement and operational failures.00:05:41 The "Magic" Thrasio IgnoredBen explains his original success came from building a true brand with customer relationships, which the new owners dismantled.00:09:27 The Financial FalloutBen reveals the brand's revenue plummeted from $6 million to about half a million dollars under Thrasio's ownership.00:13:13 Three Key Mistakes by the AggregatorThe host summarizes Thrasio's critical errors: inventory mismanagement, ignoring off-Amazon branding, and failing to protect intellectual property.00:19:51 Why You Must Diversify Beyond AmazonBen stresses the need for Amazon sellers to act like real brands and diversify channels to build a sustainable business.00:22:23 The Revival Playbook for Beast GearBen outlines his bootstrapped strategy to revive the brand, focusing on TikTok Shop and rebuilding community goodwill on a budget.00:27:08 Launching a New Brand: TucoThe conversation shifts to Ben's new venture, Tuco, a baby carrier startup designed specifically for dads.00:32:22 When to Implement Brand Awareness StrategiesBen and Josh discuss when a brand should start investing in top-of-funnel marketing and diversifying beyond its primary channel.00:37:40 Three Actionable Takeaways for Brand OwnersThe host summarizes key lessons: diversify with solid processes, avoid inventory leverage, and work with creators for brand awareness.00:42:13 Ben's Final Three QuestionsBen shares his most influential book (The E-Myth), favorite AI tool (Claude), and an e-commerce professional to follow.00:45:51 How to Connect with BenBen shares the best places for listeners to find him online, primarily LinkedIn and his personal email address.Resources mentioned in this episode:Josh Hadley on LinkedIneComm Breakthrough ConsultingeComm Breakthrough PodcastEmail Josh Hadley: Josh@eCommBreakthrough.comTools and Websites"Shopify": "00:03:03""Amazon": "00:03:03""TikTok": "00:09:54""YouTube": "00:19:51""TikTok Shop": "00:23:10""Meta Ads": "00:24:07""WordPress": "00:35:58""Email Marketing": "00:36:33""Claude (AI Tool)": "00:43:03""LinkedIn": "00:45:09""Ecomm Breakthrough Website": "00:46:24"Books"Quit Stalling and Build Your Own Brand by Ben Leonard": "00:01:01""Building a StoryBrand by Donald Miller": "00:21:31""The E-Myth Revisited by Michael Gerber": "00:42:25"Videos"Brand Rescue Mission": "00:08:17""Escaping the Amazon Goldfish Bowl": "00:19:51"Podcasts"Operators Podcast": "00:09:54"Other Mentions"Forbes": "00:01:01""Peregrine Commerce": "00:25:41""Sean Cowie": "00:44:09"Episode Sponsor:This episode is brought to you by eComm Breakthrough Consulting where I help seven-figure e-commerce owners grow to eight figures. I started my business in 2015 and grew it to an eight-figure brand in seven years.I made mistakes along the way that made the path to eight figures longer. At times I doubted whether our business could even survive and become a real brand. I wish I would have had a guide to help me grow faster and avoid the stumbling blocks.If ...

PREVIEW for Later Today: Iraq's New Oil Ministry Faces Critical Export and Budget Challenges. Guest: Bridget Toomey. Bridget Toomey examines Iraq's urgent need to diversify oil export routes beyond the Strait of Hormuz. The new ministry must repair post-war facilities and address a looming budget crunch while managing production levels.1700

You wake up, check your portfolio, and realize one stock has quietly become your entire retirement plan. Maybe it came from an employee stock purchase plan. Maybe Grandma left you a pile of Apple shares. Maybe you bought NVIDIA in 2012 because you liked the graphics card and forgot about it. However you got here, the problem is the same: one company now owns you. Joe and OG walk through exactly how to unwind it -- slowly, tax-efficiently, and without making the emotional decisions that cost people the most money.What You'll Walk Away WithThe four ways people end up with concentrated stock -- and which one has the easiest fix that most people skip entirelyWhy inheriting stock is actually the best time to diversify -- and the step-up in basis rule that eliminates most of the tax billThe conveyor belt strategy for employee stock purchase plans that keeps you collecting the discount without piling up company riskWhy "I'll just grow around it" almost never works -- and the math behind why your stock tends to outpace your ability to diversify around itThe question Joe asked every client in this situation: which outcome would upset you least -- and why that's the right starting pointRSUs as a paycheck, not a loyalty pledge -- and the mental reframe that makes it easier to sellWhat the Merck/Vioxx story teaches about why the tax bill is almost never the real reason to hold concentrated stockWhen a slow systematic sell makes sense versus ripping the Band-Aid -- and how to decide which one you can actually live withThe estate planning mistake that turns a free inheritance into a massive capital gains bill -- and why the $1 trick backfires every timeThe insurance planning framework OG and Anna walk through: life, disability, long-term care, and property/casualty -- including the umbrella policy most people skipWhy This Matters NowIf you've spent years building something -- through your career, through conviction, through an inheritance -- the last thing you want is to lose it all because one company had a bad quarter. The diversification conversation feels complicated, but the framework is simpler than most people think. The hard part isn't knowing what to do. It's making the decision when the stock is moving and your emotions are loud.From the BasementJoe and OG dig into concentrated stock risk -- how people get there, what it actually costs them, and the five strategies for getting out without making it worse. OG and Anna return for episode two of their financial basics series with a full insurance planning walkthrough -- including the disability insurance gap most people don't know they have. Doug arrives with Mount St. Helens trivia and a dryer situation that may or may not involve auto parts. Stacker Molly's car repair HSA story gets a full investigation and a satisfying resolution.Resources MentionedStacking Benjamins Basics Guide -- season one and season two workbooks free at stackingbenjamins.com/basicsguideStacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201Stacking Benjamins Vault -- stackingbenjamins.com/vaultStacking Benjamins Community -- stackingbenjamins.com/basementYahoo Finance / CNBC insider trading tracker -- referenced for monitoring executive stock salesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today, Paul and Evan start the show by discussing the common misconception that investing is simply learning about companies so you can pick the “right” ones. The two advisors explain that this method doesn't even work for the brightest minds in the industry. Paul shares an interview from the news this week that claims the economy would be soft without the influence of AI. Listen along to hear how this claim connects to the myth of picking winners and learn how confident investors use diversification to build portfolios that won't fail during the market's natural ups and downs.   Want to cut through the myths about retirement income and learn evidence-based strategies backed by over a century of data? Download our free Retirement Income Guide now at paulwinkler.com/relax and take the stress out of planning your retirement.   This material is for general educational purposes only and is not personalized investment, financial, tax, or legal advice. Past performance does not guarantee future results. Nothing here is an offer, solicitation, or recommendation for any security or strategy. All financial decisions involve risk, and you should consult qualified professionals before acting on this information. Advisory services offered through Paul Winkler, Inc., an SEC-registered investment adviser.

In this episode, Greg Judy shares practical, field-tested lessons on building profitable and resilient multi-species grazing systems. This remastered session dives into the infrastructure, grazing strategies, drought planning, and diversified income streams that help producers improve pasture performance while reducing dependence on costly inputs. From fencing and portable paddocks to hunting leases and soil health, Greg explains how intentional management can dramatically improve both profitability and land resilience.

Join Moe & Javaid as they analyze the markets after earnings continue to propel the markets to new highs. What are the latest developments in the conflict in Iran and when will there be a resolution? Are earnings enough to propel the market to more new highs? What are some of the key indicators to watch for? What do oil markets and bond markets tell us about the market? Listen now to get the answers to these questions and more!  Want to see the charts Moe & Javaid are discussing? Check out the Compak YouTube channel! http://www.compak.com/youtube

A version of this essay has been published by rediff.com at https://www.rediff.com/news/column/gulf-war-crisis-why-india-will-take-a-huge-hit/20260511.htmIn the heat and dust of elections, many of us have forgotten that there is a war going on. But the PM's warning about sacrifices and conservation reminds us that this essentially unwinnable war, and the on-again, off-again negotiations to bring it to a closure, are going to hit every one of us in our wallets.On 30th April, the Pentagon announced that the US had so far spent $25 billion on the West Asia war. This is a staggeringly huge number, and I was startled because I had casually thrown around this number as the ultimate cost of the war for all parties. Clearly I underestimated the damage, if this is the US' cost alone. Add the other frontline states, and then the untold misery and cost imposed on all of us innocent bystanders. And it's not over yet by any means.Pete Hegseth, the US secretary of war (self-fulfilling prophecy, isn't it, they changed the name from secretary of defense, and lo! they went to war immediately thereafter) bristled at the idea of a quagmire, according to The Economist. But I am old enough to remember Vietnam, and then Afghanistan. These forever wars are easy to get into, but hard to get out of.Indeed, the war has become not only an impasse, but also a charade. Even considering how the narrative gets bizarre from all sides during every war, this one seems especially messed up. So much so that there literally is no point in paying attention to the day-to-day events, because they don't seem to make much difference. Except of course, when the price of Brent crude hits $120, as it did on April 30th, twice what it was before the war. Ouch! And Hormuz is still closed.India is reeling under a heatwave, and we live under the Damocles' sword of power cuts. Kerala announced a half hour of rolling cuts (anodyne euphemism: “load shedding”) every night, but they will not tell you when or where the cuts will be. This is like the Malayalam proverb: “the guy who got hit by lightning was then bitten by a snake”. Incidentally, there's been a number of deaths from snakebites in Kerala as the reptiles enter houses seeking cooler temperatures.If this El Nino weather holds up, India's assumptions about load (maximum 270 GW) will be challenged: we hit a record on April 25th of 256 GW peak demand, and the fact that the grid didn't collapse is admirable, but being so close to the maximum is worrying. In Kerala, the grid cannot absorb the solar electricity produced by many households during the day because the Electricity Board did not purchase enough storage batteries: so much for on-grid.I am also fairly confident that once the elections are over, the government will be forced to increase fuel prices. Petrol has held steady at pump prices of Rs. 107.45/liter for a few years, but as crude oil prices have doubled, I see an inevitable rise not of Rs. 28 or so as speculated, but Rs. 50-100 based on how much inflation the Reserve Bank is willing to tolerate. In passing, I remember seeing somewhere that petrol prices have reached Pak Rs. 500/liter in that country.Therefore I have stopped paying much attention to the daily press releases and JUST IN, BREAKING NEWS types of ‘analysis' (some of the most prominent of these are clear AI slop, possibly manufactured by Chinese troll farms). The big picture is that the Straits of Hormuz remain blocked, the amount of oil and gas coming from the Persian Gulf remains diminished dramatically, and recovery may take months, if not years, even if the strait is unblocked.The chances are increasing that this will become a protracted war, as the principals are standing by their maximalist positions, where this is little reason to believe they will be able to arrive at a via media and a lasting ceasefire.It is not business as usual. This is the biggest energy shock since 1973, and as always, it is developing countries that will be most seriously affected. India is going to take a large hit, with inflation rising by, say, 2%, and GDP growth falling from 7+% to 6%.There are several things India needs to do urgently:* Strive for self-reliance (“Atmanirbhar”) in a variety of areas* Diversify its sources of hydrocarbons to other geographies eg. Africa, South America, Central Asia (through Chabahar), and accelerate exploration of its own (offshore and onshore) blocks as Mumbai High and Assam fields are aging rapidly* Pursue other forms of energy:* Renewables* Coal, including carbon sequestration* Biofuels* Nuclear (both SMR and FBR)* Shift households from LPG to LNG, including tapping Krishna Godavari wells, coal gasification, biomassEspecially at a time when electricity demand for new industries (eg. generativeAI data centers, semiconductors) is ramping up, it is important for India's manufacturing rise to ensure that this does not become a constraint. From a consumer perspective, increased affluence brings increased electricity demand.In addition, the Indian migrant worker population of about 10 million in West Asia, and their inward remittances of some $40-$50 billion per annum (total of $120 billion globally) may be increasingly under pressure if oil/gas production does not go back to pre-war levels.There is one more factor: India needs military muscle. As I said about Pax Indica, the Indian Ocean needs a strong, impartial facilitator of trade in the Hormuz to Malacca sea-lanes, and India is best placed to do this, harking back to Rajendra Chola re-opening Malacca in 1025 CE. But this requires three things:* Major container ports: Trivandrum (Vizhinjam), Vadhavan, Great Nicobar (Galathea Bay)* The ‘switch' to ease multiparty, multi-protocol trade: the India Stack* Security: three aircraft carrier groups, two dozen SSBNs, SSNs, AIP diesel submarinesThis is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source. The war is indeed a quagmire.950 words This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit rajeevsrinivasan.substack.com/subscribe

A big single-stock win can feel like freedom one day and a tightrope the next. This plan walks through how a family holding ~$15M in NVIDIA shares can turn concentrated success into stable, low-stress wealth—without torching liquidity on taxes.Start with the only question that matters: How much diversified capital is needed to fund a confident lifestyle?Reverse-engineer that number, then use precise tools to reach it, keeping meaningful upside while lowering single-stock risk.What's inside this episode: - Decide your lifestyle floor first: Define the minimum diversified capital required to fund spending needs with confidence.- Complement, don't duplicate: Use separately managed accounts (SMAs) to add what's missing so exposure isn't stacked on top of NVDA, Apple, and Amazon.- Create tax “ammo”: Systematic tax-loss harvesting and long/short SMAs to build a reservoir of losses that can offset gains when trimming the position.- Account coordination, not silos: Asset location that overweights missing exposures—international, small caps, real assets—inside 401(k)/403(b) to hit global targets while cutting tax drag.- Optimize NVIDIA employee benefits: Mega backdoor Roth contributions paired with a generous 401(k) match for higher tax-advantaged compounding.- Thoughtful de-risking: Selective pruning vs. selling everything—manage taxes, sequence risk, and liquidity step by step.- Advanced tools, clear trade-offs: Exchange funds, covered-call overlays for selective income, and charitable gifting of appreciated shares via donor-advised funds.- Portfolio-level management: Make decisions across all accounts, not account-by-account.- Graduate from accumulation to optimization: Shift the focus to risk control, tax efficiency, and reliable cash-flow.Who this helps- NVIDIA employees with RSUs/ESPP and sizable NVDA exposure- Founders and tech execs holding concentrated single-stock positions- Anyone looking to diversify without a massive tax bill and buy long-term peace of mindThe bottom line— fund the lifestyle floor with diversified assets so one ticker never dictates your future, or your mood.--Advisory services are offered through Root Financial Partners, LLC, an SEC-registered investment adviser. This content is intended for informational and educational purposes only and should not be considered personalized investment, tax, or legal advice. Viewing this content does not create an advisory relationship. We do not provide tax preparation or legal services. Always consult an investment, tax or legal professional regarding your specific situation.The strategies, case studies, and examples discussed may not be suitable for everyone. They are hypothetical and for illustrative and educational purposes only. They do not reflect actual client results and are not guarantees of future performance. All investments involve risk, including the potential loss of principal.Comments reflect the views of individual users and do not necessarily represent the views of Root Financial. They are not verified, may not be accurate, and should not be considered testimonials or endorsementsParticipation in the Retirement Planning Academy or Early Retirement Academy does not create an advisory relationship with Root Financial. These programs are educational in nature and are not a substitute for personalized financial advice. Advisory services are offered only under a written agreement with Root Financial.Create Your Custom Strategy ⬇️Get Started Here.Join the new Root Collective HERE!

In Episode 134 of The Tens and Aces Podcast, host Mike AP sits down with Doug, an advantage player (AP), software developer, and founder of savvyscrath.com. Doug's incredible journey connects multiple worlds—online and live poker, blackjack, machine advantage play, comp hustling, and even a tech-driven edge in lottery scratcher ticket prediction. This episode explores how data, networking, and innovation can transform gambling into a measurable skill—and even a profession.Doug began in the golden age of internet poker, grinding on Full Tilt Poker and PokerStars before the 2011 “Black Friday” crackdown reshaped the landscape. Transitioning to live poker, Doug's curiosity led him into blackjack apprenticeship, where he honed card counting skills and gained real-world experience as a banker at a California card room—a unique legal structure where players compete against each other, not the house.Doug dives deep into the quirks of California card rooms, explaining how they operate legally under player-banker rules. However, growing pressure from tribal casinos and regulatory shifts have forced many to close. His insider perspective reveals how policy changes can reshape entire ecosystems of legal AP opportunities.Never content with one niche, Doug advanced into machine advantage play and comp hustling—leveraging casino promotions and rewards for profit. He even built small teams to sign up players for bonuses, showing how creative networking and data collection unlock hidden value in casinos.Doug stresses that advantage players shouldn't define themselves solely as card counters: diversification is survival.Doug's crown achievement is a groundbreaking data-driven lottery system. His platform, ⁠savvyscrath.com⁠, tracks state lottery data—sales, ticket availability, and prize pools—to calculate real-time expected value (EV) for scratcher games in over 19 U.S. states.Key innovations include:Automated analysis of public lottery dataDynamic probability models to find “+EV” ticketsModel Context Protocol (MCP): a proprietary AI interface allowing conversational data queries for personalized strategy insightsDoug's system effectively turns government-released data into actionable advantage play—bridging gambling, analytics, and software engineering.Doug shares how AI is reshaping discovery and marketing, but warns about hidden bias in search results and AI outputs driven by affiliate marketing. True advantage play now includes data skepticism—learning to question information sources and use AI as a lens to uncover niche opportunities others overlook.Echoing Richard Munchkin's mantra that “Your network is your net worth,” Doug emphasizes the power of connections in the AP world. Information-sharing circles can be the difference between profit and burnout. For Doug, advantage play is not a hustle—it's a mindset applied to everything from travel and spending to career optimization.Doug recalls buying his first scratcher on his 18th birthday, netting a $150 win—an early glimpse of the edge-seeking determination that defines his career. His nostalgic storytelling blends humor and insight, contrasting the analog gambling days with today's data-driven ecosystem.Diversify your edge: Don't rely solely on one AP method—adapt and expand.Leverage tech: Data tools and AI open new, overlooked profit zones.Stay networked: Collaboration and relationships multiply opportunity.Adopt the AP mindset: View everyday life through the lens of efficiency and edge-finding.advantage play podcast, blackjack, card counting, online poker history, California card rooms, machine advantage play, comp hustling, lottery scratcher analytics, savvyscrath.com, Doug advantage player, Mike AP podcast, Tens and Aces Episode 134, data-driven gambling, AI in casino strategy, Model Context Protocol MCP, AP mindset, gambling technology trends, blackjack apprenticeship

8/16: Scott Harold discusses Japan's $10 billion lending initiative to counter Chinese influence in Asia. He also explores Japan's efforts to diversify energy sources, including nuclear power and importing American LNG.1654

Stewart O. Heath, Founder and CEO of Harvard Grace Capital, a private equity real estate firm that helps business owners build wealth through passive, … Read more The post The silent risk of relying solely on your business for income and how to diversify appeared first on Top Entrepreneurs Podcast | Enterprise Podcast Network.

What happens when the biggest threat to your publishing business is also buried inside the data you're not looking at? Jorge Barbosa of wecantrack, joins Lee-Ann to talk about what is actually happening to publishers right now, why most of them are flying blind without realising it, and what the ones who are thriving are doing differently. The conversation covers HCU updates, AI overviews cannibalising traffic, the overlooked relationship between affiliate managers and publishers, and why EPC broken down by traffic source might be the most important number in your business that you're not tracking.Talking Points Include:The visibility gap most publishers don't know they have and why logging into your affiliate network reports is not the same as understanding your businessHow one publisher shifted from 80 percent organic to 80 percent paid traffic over four years and grew overall revenue in the processWhy AI overviews are changing the user journey in ways that affect affiliate managers just as much as publishers and what you should be doing about it depending on who your audience actually isThe case for affiliate managers paying for their top publishers' tracking tools and the commercial intelligence that comes back in returnListen to Find Out More About:Why EPC by traffic source and landing page is the one metric Jorge always leads with in demos, and what it reveals that network reports never willHow big publishers use automated link testing and monetisation scripts to protect revenue at scale without adding headcountThe LLM tracking feature wecantrack is building that measures how often an AI model is crawling your content, not just mentioning itWhy affiliate marketing as a side hustle is the myth that drives Jorge mad, and what the industry actually looks like when you pull back the lensWhat the successful publisher looks like in 2027, in one sentenceWhy publishers building a brand rather than just a website is the single most important strategic shift happening in the industry right nowKey Segments of This Podcast and Where You Can Tune In to Go Direct:[02:00] The pain points publishers are dealing with right now: HCU losses, AI overview traffic cannibalisation, and why most are still guessing about where their revenue comes from[06:50] A live demo reality check: the publisher who thought YouTube was irrelevant until the data showed it was their best-converting channel[22:08] Pivot or die: real examples of publishers who lost eighty percent of organic revenue and rebuilt stronger by acting on what the data told them[28:00] The rapid fire round: the one metric everyone should track, the best and worst things to happen to publishers in two years, and what 2027 looks like for the publishers who make itCall to ActionA big thank you to Jorge for being so generous with what he's seen on the ground. If this episode has made you think differently about the data sitting inside your publishing business or program, that is worth acting on sooner rather than later. Have a look at their Affiliate Dashboard or book a demo if this episode has sparked your interest.KonverJ works with brands and affiliate managers to build publisher relationships and program strategies that are grounded in what the data actually shows. If you want to stop guessing and start making decisions that compound, get in touch with the team here.Rate, Review and Subscribe on Send me a text with your questions

In this episode, Alford Wayman talks honestly about financial pressure, debt, and what it actually takes to build a pottery business that is financially stable, not just creatively alive. What We Cover in This Episode The emotional truth first. There's a particular kind of shame that comes with being a maker who is also broke. You chose this. You chose clay over stability. And some days that feels like a mistake. Before we can talk about spreadsheets, we have to talk about that. Five practical things studio potters can do: 1. Know your numbers — all of them. What does your studio actually cost per month? What does each show earn — net, not gross? What does each pot actually cost to make, including your time? Most potters don't know these numbers. Once you know them, you can act. 2. Price for sustainability, not for approval. Your price is not a personality statement. It's math. Every time you undercharge, you are subsidizing your buyer's lifestyle with your own labor. That's not generosity. That's a slow leak. 3. Diversify your revenue. Shows alone are not enough. One bad weather day, one canceled event, and your month is gone. Online shop, workshops, commissions, writing, journals, podcast — each one is a leg of the table. You don't need all of them. You need enough that losing one doesn't collapse everything. 4. Treat debt like an emergency — because it is. High-interest debt is the enemy of creative freedom. Every dollar of interest is a dollar that didn't go toward clay, propane, or a kiln repair. Pay off the highest interest rate first. When it's gone, redirect that payment to the next one. Momentum is real. 5. Build a cushion — even a small one. A pottery business with no cash reserve is one bad kiln firing away from a crisis. Even $50 a month into a separate account builds something over time. The habit matters more than the amount at first. The Bigger Picture Financial stability isn't the opposite of creative freedom. It IS creative freedom. When you're not panicking about money, you make better work. The potters who last are the ones who figured out the business side without letting it eat the creative side. Hard times don't last. But the habits you build during hard times, tracking numbers, pricing correctly, diversifying revenue, eliminating debt, those do last. And they compound.   Links mentioned in this episode: Creek Road Pottery shop: https://www.creekroadpottery.com/shop   The Pottery Dailies (Substack): https://www.thepotterydailies.substack.com Founding member pricing for The Pottery Dailies closes May 27, 2026. $5/month or $50/year — locked in forever at that rate.   My Pottery Firings: https://www.amazon.com/dp/B0CDZ2D6ZQ My Pottery Journal: https://www.amazon.com/dp/B0CDNMNRX7 My Pottery Projects: https://www.amazon.com/dp/B0CD164HJK   Pottery Cost Analysis Spreadsheet: A tool to add up costs per unit, including conversions and Profit First accounting/banking principles. Pottery Cost Analysis App: An application created to help potters identify the true costs behind every piece of work to ensure a profitable business.  

Failure isn't the end—it's training.

Six years of building a global business teaches you things no business school will. What actually drives revenue. What wastes your time. What you wish someone had told you before you started. In this episode, Sophia Matveeva shares the six lessons that have shaped how she built Tech for Non-Techies — trusted by Oxford University, Microsoft, Techstars and the Royal Bank of Canada — without external funding, without a PR agency, and without a technical background. You'll learn: Why fundraising and bootstrapping are both hard — and how to choose which hard is right for you Why your personal brand builds business faster than your company brand How to diversify revenue without losing focus Why human judgement is the scarcest resource in the age of AI That mind management is not a luxury — it is infrastructure Why paying experts is one of the best business decisions you will ever make Sophia also shares the evening she was convinced her business was unsolvable, why she has no regrets about bootstrapping her second company, and what a billionaire founder and a Facebook marketing expert taught her about building for the long term. Timestamps: 00:00 - Introduction: Six lessons from six years in business 02:46 - Lesson 1: Raising money vs getting customers - Choose your hard 07:28 - Lesson 2: Build your personal brand before your company brand 12:08 - Lesson 3: Diversify your revenue, but stay focused 14:29 - Lesson 4: AI is a game changer, but human judgment makes it valuable 16:48 - Lesson 5: Mind management is not optional 19:05 - Lesson 6: Pay experts to compress your learning curve 21:26 - Summary and closing Free Live Masterclass — 27 April 2026 How to get featured in the Financial Times, Forbes and Wall Street Journal — without a PR agency

Tensions are rising.  Global stability is fragile.  Supply chains, capital markets, and investor confidence are shifting faster than most people are prepared for. This episode of The Blueprint Podcast breaks down a clear, strategic response to uncertain times not based on fear, but on control. This is about being early, not reactive. When conditions tighten, those who are prepared stay in control and those who don't tumble with the markets Success and Failure are both very predictable. I hope you enjoy.   If you know you're capable of more, this is where structure meets ambition. Join us at BSR, 19–21 May 2026. Explore the retreat: https://theblueprintretreat.co.uk/   Want to learn more?

In this conversation, Josh Ryan shares his journey from a real estate agent to a financial advisor, detailing the challenges he faced during the 2008 financial crisis that led him to become a financial advisor. He discusses the concept of the 'Family Vault' as a financial safety net, the establishment of a virtual family office, and the importance of business acquisition and commercial real estate in wealth management. The discussion emphasizes proactive strategies for financial planning and legacy creation.Chapters:00:00:00 - Introduction and Welcome to the Show00:01:07 - Key Principle: Concentrate to Get Rich, Diversify to Stay Rich00:02:27 - Guest Introduction: Josh Ryan and His Background00:04:13 - Josh Ryan's Journey into Financial Services00:10:08 - The Concept of the Family Vault00:12:00 - Understanding the Virtual Family Office00:19:01 - Business Acquisition as Part of a Family Office Strategy00:24:02 - The Importance of Commercial Real Estate in Wealth Building00:30:04 - Partnering with Clients for Business Acquisitions00:33:15 - How to Connect with Josh Ryan and Closing RemarksConnect with Josh Ryan:https://cornerstoneroscoe.com/ Learn More About Accountable Equity:  Visit Us: http://www.accountableequity.com/   Access eBook: https://accountableequity.com/case-study/#register Turn your unique talent into capital and achieve the life you were destined to live. Join our community!We believe that Capital is more than just Cash. In fact, Human Capital always comes first before the accumulation of Financial Capital. We explore the best, most efficient, high-integrity ways of raising capital (Human & Financial). We want our listeners to use their personal human capital to empower the growth of their financial capital. Together we are stronger.LinkedinFacebookInstagramApple PodcastSpotify

Most podcasters sit around waiting for sponsors who pay pennies per download. Danna Crawford, host of the Power Selling Podcast and known as Power Selling Mom, has been selling online since 1997 and built podcast revenue through e-commerce instead of chasing ad deals. Beanie Babies bought her a house in Florida, and she still sells across eBay, Poshmark, Mercari, Depop, and Facebook Marketplace today.In this episode of Podcasting Secrets with host Nathan Gwilliam, Danna shares why her reels and shorts consistently get more views than her full episodes, how she uses Google Lens to research and price products instantly at thrift stores, why she prints podcast branding on every shipping bag and sticker to turn customers into listeners, how an 83 year old woman runs an entire online selling business from her phone with no computer or printer, why A/B testing YouTube titles helped increase her downloads, and how the timer method keeps her productive without falling into social media rabbit holes.Want to stop waiting on sponsors and start building podcast revenue through selling? Diversify across platforms, brand every package you ship, and turn your short form content into your biggest growth tool. Subscribe and follow Podcasting Secrets on Apple, Spotify and YouTube for weekly strategies on growth, monetization, and building a podcast that pays.Follow, Like & Subscribe:Podcasting Secrets:-Website: https://podcastingsecrets.com/ YouTube: https://www.youtube.com/@podcasting-secrets Instagram: https://www.instagram.com/podcastingsecrets/ LinkedIn: https://www.linkedin.com/company/poduppodcasting/ Apple: https://podcasts.apple.com/us/podcast/podcasting-secrets/id1726056241 Spotify: https://open.spotify.com/show/0edA45tyPxFRfiUmDxYSUjNathan Gwilliam: LinkedIn: https://www.linkedin.com/in/nathangwilliam/Danna Crawford:- Website: https://powersellingmom.comPodcast: https://powersellingpodcast.comLinkedIn: https://www.linkedin.com/in/dannacrawford/Instagram: https://www.instagram.com/dannacrawford

Tip of the Day: 1) Diversify 2)You shouldn't put all your eggs in one basket There is a time when these fit and others when they don't. Today we take a look at parallel paths to explore when it is good to diversify and when loyalty matters. We use the Strait of Hormuz as an example on the macro scale. We address boundaries, dependence, co-dependence, and toxicity in this episode.  Email us – healthyperspectives@protonmail.com Podcast home page - www.healthy-perspectives.com/podcast Sponsor/Support – https://healthy-perspectives.com/sponsor YouTube - https://www.youtube.com/channel/UCEXZdWuBoM6KXof4YcP9nkQ Twitter aka X - https://twitter.com/hphonestviews #healthyperspectives #podcast #jeremiah #mentalhealth #counseling #counselor #mindset #culture #socialresponsibility #psychology #clinical #education #walkingwithGod #Jesus #JesusisLord #LoveGod #Loveothers #straitofhormuz #hormuz #diversify #loyalty #boundaries #needed #needtobeneeded

4. Evan Ellis reports on Brazil's strategic rare earth minerals and a U.S. deal to diversify supplies away from China. He also notes the impending presidential election, where polling shows Lula and Bolson's son neck-and-neck. (4)1854 CURRIER & IVES MISSISSIPPI

Summary In this episode, disaster preparedness expert Patrick Hardy shares practical tips on how to prepare for various disasters, from fires to hurricanes, emphasizing personalized plans and mental resilience. Learn actionable steps to safeguard your home and loved ones and discover innovative methods like the 30-day backpack challenge.  Key  topics Disaster preparedness strategies Fire safety tips and equipment Personalized emergency planning Takeaways Always have a fire extinguisher and fire blanket accessible. Create a personalized disaster backpack using the 5 pocket method. Test your emergency equipment regularly in the dark or under stress. Diversify your backup plans for critical documents and power sources. Use scent and psychological tools to manage stress during disasters. Guest Patrick Hardy Sound bites "Chemical fires can reach 5,000 degrees" "Always customize your disaster backpack" "Use scent to relax during disasters" Chapters 00:40 Introduction to Disaster Preparedness 01:48 Common Disasters and Fire Safety 11:33 The Importance of a Disaster Backpack 17:45 Backup Plans and Document Safety 19:19 The Importance of Diversification in Disaster Preparedness 20:40 Building a Personal Disaster Kit 23:02 Evacuation Strategies During Disasters 29:01 Psychological Preparedness in Disasters 33:19 Empowerment Through Disaster Preparedness  resources -  Guest links Website - https://disasterpatrick.com YouTube - https://www.youtube.com/c/DisasterPatrick  

Key Topics Covered: 1. Starting Small and Building a Property Portfolio Begin with a simple, manageable property to understand buying, renovation, and mortgage processes. Treat the first property as a learning experience rather than a profit generator. Track timelines and costs to prepare for smoother future investments. 2. Generating Capital to Grow Use refinance strategically to fund the next property purchase. Ensure cash flow covers ongoing costs while leaving a surplus for future investments. Factor renovation costs and potential delays into growth calculations. 3. Building the Right Team Find local, trustworthy partners who can manage properties effectively. Diversify teams to reduce reliance on a single person or company. Maintain accountability through regular communication and performance checks. 4. Short-Term vs Long-Term Rental Strategies Balance steady long-term rental income with high-yield short-term rentals. Understand local demand for short-term accommodation, such as contractor or holiday markets. Plan for off-peak periods to avoid income gaps. 5. Learning Through Setbacks Expect unexpected challenges like project delays or market shifts. Flexibility and creative problem-solving are key to overcoming obstacles. A supportive, aligned team helps maintain momentum during setbacks. 6. Confidence and Taking Action Build confidence by starting and learning as you go rather than waiting to know everything. Small incremental steps accumulate into meaningful progress. Celebrate achievements along the way to reinforce motivation and learning. 7. Lifestyle-Driven Wealth Define what freedoms are most important: location, time, control, and creativity. Use wealth creation to gain flexibility in lifestyle and work-life balance. Focus on aligning business activities with personal goals and values. 8. Applying UK Lessons in Portugal Adapt previous investment strategies to a new market and regulatory environment. Focus on emerging opportunities, such as converting commercial properties into residential units. Build local knowledge through relationships and hands-on market research. 9. Mindset, Coaching, and Support Stay resilient by keeping long-term goals in mind during challenges. Use a coach or mentor to maintain focus, celebrate wins, and reinforce learning. Regular reflection helps refine strategies and decision-making processes. 10. Giving Back and Supporting Others Share experiences to guide others starting their wealth-building journey. Provide mentorship and encouragement for practical, actionable steps. Inspire confidence in others by showing that wealth creation is achievable. Actionable Takeaways Start small with your first property to learn the process of buying, renovating, and refinancing before scaling up. Build a trusted local team and diversify your partners to manage properties effectively and reduce risk. Balance short-term and long-term rental strategies, factoring in seasonal fluctuations and local demand. Take action even if you don't feel fully confident; learning through doing builds both experience and confidence. Use setbacks as opportunities to refine your processes, improve flexibility, and strengthen your team. Define what lifestyle freedoms matter most to you—time, location, control, creativity—and align your investments to support them. Explore new markets carefully, adapting previous lessons to local regulations, opportunities, and culture. Consider mentoring or sharing your knowledge to help others start their own wealth-building journey while reinforcing your learning. Resources & Next Steps WealthBuilders Membership: Free access to guides, webinars, and community Download our FREE Pensions and Inheritance Tax Guide Connect with Us: Listen on Spotify, Apple Podcasts, YouTube, and all major platforms. Next Steps On Your WealthBuilding Journey:   Join the WealthBuilders Facebook Community Schedule a 1:1 call with one of our team Become a member of WealthBuilders If you have been enjoying listening to WealthTalk - Please Leave Us A Review!  

In this eye-opening episode of Flourishing Edge, host Ashish Kothari sits down with Kweilin Ellingrud, Senior Partner at McKinsey & Company and author of The Broken Rung. While much attention is paid to the "glass ceiling" at the top of organizations, Kweilin's research reveals that the most significant barrier to women's advancement—and specifically women of color—happens at the very first step to manager. We unpack why educational achievements aren't translating into promotions, the hidden value of "experience capital," and how the disparity in sponsorship versus mentorship quietly stalls promising careers. This episode provides a data-backed blueprint for individuals looking to take agency over their advancement and for leaders committed to building truly equitable talent pipelines.Main Topics CoveredThe Broken Rung Defined: Why the first promotion to manager is the biggest point of inequality in the talent pipeline.The Education Paradox: Why women out-earn men in college degrees but stall at the entry level.Picking the Right Company: Why the organization you choose matters more for lifetime earnings than your specific job or boss.Experience Capital: Understanding the skills, knowledge, and wisdom learned on the job that account for half of lifetime income.The Sponsorship Gap: Why women are often over-mentored but under-sponsored, and how to fix it.Network Structures: The difference between open and closed networks and why mixing personal and professional circles is a career accelerator.Skill Signaling: How to quantify and communicate social and emotional skills for better career rewards.Key TakeawaysFix the Rung to Fix the Top: You cannot equalize the C-suite without first fixing the first promotion to manager; the "talent funnel" math simply won't work otherwise.Sponsorship is the Game-Changer: Mentors provide advice, but sponsors create opportunities. Aim for 2–3 active sponsors who will advocate for you when you aren't in the room.Beware the "Narrow" Network: Women are statistically more likely to have junior, gender-homogenous networks. Diversify your network across levels, functions, and genders to increase your "reach."Make "Big Bold Moves": To maximize experience capital, aim for roles where 25% or more of the required skills are new to you.Stay Near the "Cash Register": Spending time in the "Power Alley"—the functions that drive a company's revenue and profit—builds unrivaled credibility and career acceleration.Connect with the GuestLinkedIn: Kweilin EllingrudThe Book: The Broken RungMcKinsey Research: Women in the Workplace ReportDon't let your career stall at the entry level. Follow Flourishing Edge, like this episode, and share it with a colleague or mentor to start building the sponsorship bridge today.__________________________________________________Happiness Squad Website: https://happinesssquad.com/Ashish Kothari: https://www.linkedin.com/in/ashishkothari1/LinkedIn: https://www.linkedin.com/happiness-squadFacebook: https://www.facebook.com/myhappinesssquad/Instagram: https://www.instagram.com/myhappinesssquad

New month, new Charles Schwab STAX. Joe Mazzola notes a shift in sentiment with investors moving into more ETFs. He believes those investors want to stay exposed while becoming more diversified. That said, Joe points to Nvidia (NVDA), Microsoft (MSFT), and Tesla (TSLA) holding their top spots in the buy category. Broadcom (AVGO), AMD Inc. (AMD), and Netflix (NFLX) were among the stocks Charles Schwab investors sold the most.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

In this episode, Suja Shyam shares her journey from underwriting institutional deals to building her own real estate portfolio and expanding into private equity. She discusses risk management, market insights, and strategies for investors to create more resilient and diversified portfolios.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Investors who responded to the war in Iraq are now faced with a dilemma: Is it time to get back in the market? Are the U.S. and Iraq in talks that could move markets up, or is this just the beginning of a long slump in equity markets? Today, Paul explains why market timing is impossible to master. Listen along to hear why confident investors don't rely on headlines and luck, but on a strategy that helps them reach their financial goals in the long term. Later in the episode, Paul explains why getting into a product with low liquidity creates fundamental problems for maintaining a healthy portfolio.   Want to cut through the myths about retirement income and learn evidence-based strategies backed by over a century of data? Download our free Retirement Income Guide now at paulwinkler.com/relax and take the stress out of planning your retirement.   This material is for general educational purposes only and is not personalized investment, financial, tax, or legal advice. Past performance does not guarantee future results. Nothing here is an offer, solicitation, or recommendation for any security or strategy. All financial decisions involve risk, and you should consult qualified professionals before acting on this information. Advisory services offered through Paul Winkler, Inc., an SEC-registered investment adviser.

Great conversations won't matter if no one discovers your show. Most listeners see you before they hear you, which means your visuals shape whether they press play. This is something podcasters need to capitalize on! In this episode, John A. DeMato shares how to use intentional visual storytelling to attract the right audience so the first impression of your show draws people in for more. Get ready to make your podcast impossible to ignore!MORE FROM THIS EPISODE: HTTPS://PODMATCH.COM/EP/377Chapters00:00 The Importance of Visual Storytelling in Podcasting02:49 Crafting Your Podcast's Visual Identity06:01 Auditing Your Visual Content08:57 Creating Engaging Visuals for Promotion11:53 Maintaining a Consistent Visual StrategyTakeawaysVisual storytelling is essential for attracting listeners.Good first impressions are crucial for podcast success.Your visuals should reflect your personality and podcast tone.Regularly audit your visual content for alignment.Diversify your promotional visuals to engage your audience.Authenticity in visuals helps build listener trust.Visuals should serve a purpose and enhance your message.Creating a visual strategy is an ongoing commitment.Stay updated with your visuals to reflect current identity.Engaging visuals can turn casual listeners into loyal subscribers.MORE FROM THIS EPISODE: HTTPS://PODMATCH.COM/EP/377

Marlene Ginader's new play is hoping to get more inclusion for minorities in a predominantly white space: serial killing. She tells Tom all about her motivations for writing and starring in the new production Canadian Psycho, and how she hopes her satirical solo theatre show will challenge the Asian model minority myth.

Building a successful child care business takes more than strong enrollment. It also requires thinking ahead about stability, growth, and creating multiple sources of revenue. In this episode of the Child Care Genius Podcast, we explore the power of diversification and why relying on a single income stream can leave your business vulnerable to economic shifts, subsidy delays, or unexpected market changes.   Join Brian and Carol Duprey as they share practical insights on how child care owners can strengthen their financial foundation by expanding beyond just one center or one revenue source. Listen in as they discuss the realities of opening additional locations, why the second center is often the hardest step for owners to take, and how delegation and leadership become essential as your business grows.   The conversation also dives into one of their favorite long-term wealth-building strategies: real estate. Brian and Carol explain why owning your building can be a game changer for child care owners and how investing in property can create equity, rental income, and lasting assets for future generations.   Along the way, they also share creative ideas for generating additional revenue within your existing operation—from renting unused space to offering convenient services that families appreciate. Tune in to this episode for practical strategies and big-picture thinking that can help you build a more resilient, profitable child care business. Mentioned in this episode: GET TICKETS to the Child Care Genius LEGACY Conference:  https://childcaregenius.com/legacyconference/   Need help with your child care marketing? Reach out! At Child Care Genius Marketing we offer website development, hosting, and security, Google Ads creation and management, done for you social media ads management. For social media content we have the Genius Box, which is a monthly subscription chock full of social media & blog content, as well as a new monthly lead magnet every month! Learn more at Child Care Genius Marketing. https://childcaregenius.com/marketing-solutions/  Schedule a no obligation call to learn more about how we can partner together to ignite your marketing efforts.   If you need help in your child care business, consider joining our coaching programs at Child Care Genius University. Learn More Here. https://childcaregenius.com/university   Connect with us:  Child Care Genius Website Like us on Facebook Join our Owners Only Private Mastermind Group on Facebook    Join our Child Care Mindset Facebook Group Follow Us on Instagram Connect with us on LinkedIn Subscribe to our YouTube Channel Buy our Books Check out our Free Resources

After reviving the oldest operating soda fountain in the state of Wyoming, I can tell you firsthand that there is something deeply meaningful about bringing an old place back to life. Yet, like most things we romanticize from a distance, it's usually a whole lot less romantic up close.Since buying the soda fountain five years ago, I've had a lot of people ask about following in my footsteps. So in this podcast episode, I pulled together a few of the lessons that I feel are the most important when it comes to running a small-town business. Here we go.Podcast Episode Highlights:The element of risk in running a small town businessLesson #1: Solve a problemLesson #2: Respect the history—but also listen to your gutLesson #3: Diversify. Or else.Lesson #4: Don't forget to market to out-of-townersLesson #5: Create an experienceLesson #6: Lean into your liabilitiesLesson #7: Don't listen to your customers too muchFinal thoughtsResources Mentioned in This Podcast Episode:Find my Old-Fashioned on Purpose planner here: https://www.prairieplanner.com/Learn more about Chugwater Soda Fountain events here: https://www.chugwatersodafountain.com/OTHER HELPFUL RESOURCES FOR YOUR HOMESTEAD:Sign up for weekly musings from my homestead: https://jillwinger.substack.com/Get my free homesteading tutorials & recipes here: www.theprairiehomestead.comJill on Instagram: @jill.wingerJill on Facebook: http://facebook.com/theprairiehomesteadApply to be a guest on the Old-Fashioned on Purpose podcast: https://www.theprairiehomestead.com/podcast-guest-applicationDid you enjoy listening to this episode? Please drop a comment below or leave a review to let us know. This can help other folks learn about this podcast and we also really appreciate the feedback! 

On May 16, 2003, a silent alarm was triggered inside Blue Ridge Savings Bank in Greer, South Carolina. When officers arrived just minutes later, they found the bank empty and the cash drawer cleared out.In a small utility room at the back of the building, they made a devastating discovery. Head teller Sylvia Holtzclaw, along with customers Dr. Eb Barnes and his wife Maggie Barnes, had all been shot and killed.Surveillance footage from inside the bank was missing. Grainy video from nearby gas stations showed a red car speeding away from the area, but investigators were never able to identify the driver. More than 20 years later, the triple homicide at Blue Ridge Savings Bank remains unsolved, and detectives are still searching for the person or people responsible.If you have any information, please contact the FBI Office in Greenville, South Carolina at (803) 551-4200 or the Greer Police Department at (864) 848-2151.Editor: Shannon KeirceResearch/Writing: Haley GraySUBMIT A CASE HERE: Cases@DetectivePerspectivePod.com SOCIALInstagram: https://www.instagram.com/detperspective/Twitter: https://twitter.com/detperspectiveFIND DERRICK HERETwitter: https://twitter.com/DerrickLInstagram: https://www.instagram.com/DerrickLevasseurFacebook: https://www.facebook.com/DerrickVLevasseurCRIME WEEKLY AND COFFEECriminal Coffee Company: https://www.CriminalCoffeeCo.comCrime Weekly:  https://crimeweeklypodcast.com/shopADS:1. https://www.GetAcreGold.com - Diversify your portfolio and sign up today!2. https://www.HungryRoot.com/Detective - Use code DETECTIVE for 40% off and a FREE item for life!

Gokul Rajaram is one of the greatest operators turned investors of the last 2 decades. He is trusted as the go to advisor for the greatest founders in the world. Today he serves as a Board Director at three public companies: Coinbase, Pinterest and The Trade Desk. Prior to Marathon (his firm), Gokul served on the executive team at DoorDash and Block. Before Block, he served as Product Director of Ads at Facebook. Earlier in his career, Gokul served as a Product Management Director for Google AdSense. Gokul is also a prolific angel investor, having invested in 700+ companies, including Airtable, Figma, Groq, Runway, Supabase, and Vercel.  AGENDA: 03:53 — Investing Lessons from Google, Doordash and Facebook 05:32 — Why Mark Zuckerberg is the Greatest Distribution Genius Alive 07:23 — Why Every Company Today Needs to be Multi-Product 09:16 — Negative Gross Margins: Are the Best Companies Actually Built on "Shit" Economics? 10:50 — The SaaS Apocalypse: Is the Entire Sector Going to Zero? 12:15 — The 8 Moats of Enduring Software Companies: How to Analyse Companies 14:50 — Why Brand is No Longer a Strong Moat (And What Replaced It) 16:13 — Salesforce vs. Atlassian: Which Systems of Record are Dying? 18:13 — Outcome-Based Pricing: Is This the Total Death of Seat Pricing? 20:16 — The Bolt-On AI Trap: Why Rebuilding Your Entire UX is Non-Negotiable 23:44 — Are the Outcome Sizes of Vertical SaaS Large Enough for VC Today? 28:16 — The Zombie Cohort: What Happens to Private Companies with High Valuations? 32:44 — Is "King Making" Complete Bullshit? 34:21 — Durability Over Margins: What Really Matters in a 100x Growth World 35:36 — The Non-Consumption Miracle: Why Granola and Gamma are Crushing It 38:50 — The PayPal Rule: Can You Raise Prices 5 Times in 3 Years? 42:47 — My Biggest Miss: How I Misread the Shopify Billion-Dollar Mark 45:18 — The Courage to Bet: Why Instacart is the Best VC Deal Ever 46:33 — Seed vs. Growth Pricing: When Does Price Actually Destroy Returns? 50:53 — Does "Proprietary Founder Access" Even Exist? 54:33 — Double Down or Diversify? The Truth About Fund Reserves 59:44 — The Vanta Anti-Portfolio: A Mistake I'll Never Forget 01:01:21 — When to Sell: The "Sell a Third, Hold a Third, Trade a Third" Rule 01:04:12 — Why Remote Early-Stage Companies are Dying 01:07:33 — Why Mid-Level Partners are Fleeing Mega Funds 01:09:47 — The Best CEO Superpowers: Larry, Mark, Jack, and Tony 01:12:33 — The Next 10 Years: Why Dropouts are "AI Maxing" the World    

We're often great at making money, terrible at managing it. Multi-exit entrepreneur David McKeegan joins us to discuss personal finance built specifically for founders: The "refrigerator number" — what it is and how to find yours The 4% rule — is it still relevant, and what rate would you actually bet on? Concentration vs. diversification: when to double down and when to spread out Portfolio construction for 7-8 figure entrepreneurs (ETFs, TIPS, bonds — the real breakdown)

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The ultra-wealthy get access to private equity, private credit, and pre-IPO deals the rest of us don't. Now, suddenly, those same deals are being marketed to you. Coincidence? Maybe. Cause for suspicion? Absolutely. Joe, OG, and Doug settle in at the basement desk (yes, Joe's mom's basement — the most prestigious financial address in podcasting) to dig into a Wall Street Journal headline asking whether everyday investors should be chasing the same private deals as the 1%. OG breaks down why "exclusive access" and "higher returns" can also mean binary outcomes, illiquidity traps, and a failure rate that the ultra-wealthy can absorb — and you probably can't. Oh, and there's a Ty Lopez–led retail investment that allegedly became a Ponzi scheme. So that's fun. What's in today's episode: Why private equity and private credit are suddenly being pitched to regular investors — and what that timing might tell you The real difference between risk-free returns, stock market investing, and private bets (they are not the same thing, no matter what the brochure says) How "exclusive opportunity" can be a polite way of saying "binary outcome with limited exits" A real-world look at regulation risk using Airbnb as the example What liquidity actually means — and what happens when you need your money back and the market says "no" The Ty Lopez distressed retail saga and how it allegedly went full Ponzi Why private credit often means lending to borrowers who couldn't get money elsewhere The uncomfortable truth about who gets targeted by aggressive investment marketing (hint: it's people who feel behind) OG also walks through an SEC-inspired framework for evaluating any investment before you hand over a dollar: Build a financial roadmap before chasing complex deals Know your actual risk tolerance (not the aspirational version) Diversify — for real, not just in theory Handle your emergency fund and high-interest debt first Grab every employer match on the table Rebalance regularly How to spot the early signs of fraud before it costs you Also in the basement: Doug drops Mustang trivia (the 1964 Ford kind, not the horse kind). The TikTok Minute rides off into the sunset, replaced by a shiny new back-to-basics segment. There are community meetup updates — including Benjamins After Dark in Boston. And somehow, against all odds, Kool-Aid nostalgia becomes a conversation. Because sometimes the most dangerous investment isn't the one that looks risky. It's the one that sounds like something only smart, wealthy, connected people get access to. Pull up a chair. The basement is open. FULL SHOW NOTES: https://stackingbenjamins.com/how-to-avoid-the-wrong-investments-1813 Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The ultra-wealthy get access to private equity, private credit, and pre-IPO deals the rest of us don't. Now, suddenly, those same deals are being marketed to you. Coincidence? Maybe. Cause for suspicion? Absolutely. Joe, OG, and Doug settle in at the basement desk (yes, Joe's mom's basement — the most prestigious financial address in podcasting) to dig into a Wall Street Journal headline asking whether everyday investors should be chasing the same private deals as the 1%. OG breaks down why "exclusive access" and "higher returns" can also mean binary outcomes, illiquidity traps, and a failure rate that the ultra-wealthy can absorb — and you probably can't. Oh, and there's a Ty Lopez–led retail investment that allegedly became a Ponzi scheme. So that's fun. What's in today's episode: Why private equity and private credit are suddenly being pitched to regular investors — and what that timing might tell you The real difference between risk-free returns, stock market investing, and private bets (they are not the same thing, no matter what the brochure says) How "exclusive opportunity" can be a polite way of saying "binary outcome with limited exits" A real-world look at regulation risk using Airbnb as the example What liquidity actually means — and what happens when you need your money back and the market says "no" The Ty Lopez distressed retail saga and how it allegedly went full Ponzi Why private credit often means lending to borrowers who couldn't get money elsewhere The uncomfortable truth about who gets targeted by aggressive investment marketing (hint: it's people who feel behind) OG also walks through an SEC-inspired framework for evaluating any investment before you hand over a dollar: Build a financial roadmap before chasing complex deals Know your actual risk tolerance (not the aspirational version) Diversify — for real, not just in theory Handle your emergency fund and high-interest debt first Grab every employer match on the table Rebalance regularly How to spot the early signs of fraud before it costs you Also in the basement: Doug drops Mustang trivia (the 1964 Ford kind, not the horse kind). The TikTok Minute rides off into the sunset, replaced by a shiny new back-to-basics segment. There are community meetup updates — including Benjamins After Dark in Boston. And somehow, against all odds, Kool-Aid nostalgia becomes a conversation. Because sometimes the most dangerous investment isn't the one that looks risky. It's the one that sounds like something only smart, wealthy, connected people get access to. Pull up a chair. The basement is open. FULL SHOW NOTES: https://stackingbenjamins.com/how-to-avoid-the-wrong-investments-1813 Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Kiera is joined by Derick Van Ness of Big Life Financial to talk about taxes, and how to handle them beyond simply thinking of them as a necessary evil. The pair discuss knowing your numbers, utilizing tax credits, the magic touch of a CPA, and more. Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: The Dental A Team (00:00) Hello, Dental A Team Listeners, this is Kiera. And today I am super excited. This is one of our top favorite guests that has been on the podcast. We're bringing him back on because there are some new updates and our clients love him. I love him. He is incredible. Derick Van Ness, he is with Big Life Financial. And you might have heard him on the podcast before talking about R &D credits, tax saving ideas, CPA.   This man does a lot of your wealth and how to build and keep your wealth. So I always love our conversations and just like his good information. Plus, if I remember right, he might know Garrett Gunderson. So obviously I've been a fangirl since day one. Derick, welcome back to the show. How are you today?   Derick Van Ness (00:42) Well, I'm doing great and really happy to be here with you, Kiera. I'm not Garrett Gunderson because he is taller and better looking, but I'm a good second place.   The Dental A Team (00:48) Ha ha ha!   I think that you're great. The fact that you know Garrett Gunderson, that already just has elevated you. I mean, I think it was one of our first conversations we ever had. And I was like, have you ever read like Killing Sacred Cows? And you're like, I actually know Garrett Gunderson. I was like, what? Fangirling. So ⁓ anyway, Derick, for those who have not met you, haven't heard your episode, because we do have new listeners to the podcast. Just kind of give them a little intro of who is Derick Bennis? What is Big Life Financial? And give the listeners a little intro to who you are.   Derick Van Ness (01:20) Okay, well outside of being ⁓ in love with my wife, in love with art and in love with racing sailboats, what I do professionally is I help ⁓ doctors and dentists to be smarter with their money. So what does that mean? That means how do you, not so much to make it, I mean we do help people scale, but once you make the money, which is something a lot of dentists are good at, how do you keep it through tax savings? How do you grow it and how do you protect it, right?   And today we're going to talk a little bit about how do you keep more what you make? Because honestly, for dentists, even though taxes seem boring when you don't have to write that $50,000 or $100,000 or $200,000 check, it gets a lot cooler. If you would have told me I'd be a tax and financial guy when I was a kid, I probably would have just taken an early exit somewhere and jumped off a bridge. But I really see money in what we do as a lifestyle business. It's not about money.   The Dental A Team (02:01) Yeah.   Derick Van Ness (02:17) If you have enough, then money is what it is. When you don't have enough, it's a problem. And I just find for a lot of people, it's the reason or excuse that they constrain themselves. They don't spend time with family. They don't think do things that they want to do. They don't have the experiences that are going to change their life. So when we can get money out of the way, then you can live your big life, which is why the company's big life financial, because it doesn't matter if you have more or less money. The question is, what's the life you're living? What's your quality of life?   And so taxes are a big piece of that. Obviously we can't talk about everything on a podcast like this, because you'd be buried under a ton of bricks. But that's what I do is I try to make this stuff easy. I try to make it fun. And I want you to realize that the whole point of all this money stuff is so that you can live a life you want to   The Dental A Team (02:55) You   Which Derick, that's why we have connected. You have met my husband. have had personal conversations outside of the podcast because I very much align and subscribe to this lifestyle and this mode of thinking. I believe that practices should work for us and us not work for our practices. I believe that we became business owners to have these big lives and these, audacious dreams. And yet I feel so many people live below their, their potential. They are trapped. They are.   Derick Van Ness (03:33) Mm-hmm.   The Dental A Team (03:34) It's crazy. I ⁓ had a client and she actually made so much money last year, which was amazing because the year before she was like, Kiera, I want to make more. So I was like, great, we're going after profit and production like blinders on. Don't talk to me about anything else. And she had like a crazy year and she's like, great. Now I have this huge check. I've got to write in taxes. And I was like, not my problem. Like you need better CPA help on that, but glad we made you the money. But I bring that up because one, it was a huge win for a client, but two,   Derick Van Ness (03:52) I don't know.   Yep.   The Dental A Team (04:02) I think that people being able to keep the money that they make, hold on to more money that they make. Like I love that we live in America and it's a free country and that we get to pay taxes. Like I'm so freaking grateful for that. With that said, I do not want to pay one penny more than I need to. And I want to maintain and keep as much as I possibly can to live the life I want and to not feel the guilt of being a successful business owner and to do the fun things that I always imagined and dreamed of doing without the guilt of doing it. And I think so many people are so scared of.   Derick Van Ness (04:11) Yep.   The Dental A Team (04:32) being financially free, they're scared to spend money. They get hit with tax burdens left and right. I can't tell you how many dentists that I hear at the end of their career and they've had great careers, but they have no financial stability. like, Derick, this is the stuff that stresses me out and keeps me up at night and which is why you're on the podcast because I want people to be smarter. want them to be more educated and I want them to live happier lives. So let's walk through like R and D credits and CPA and like how people can live a more enriched   Derick Van Ness (04:33) Mm-hmm.   Yep.   The Dental A Team (05:02) big life today rather than waiting. I think it's just a fun topic to talk about. I'm intrigued, so let's talk about it.   Derick Van Ness (05:07) Yeah   Well, let's do. mean, we can start generally with taxes and then we can kind of move into the credits piece because it is like a it's just a small very segmented piece of what you do with your taxes. overall, the biggest thing I see is most people see taxes as like a necessary evil. This is the thing I have to deal with. When people see something as a necessary evil, what do they do? They do the minimum. Right. And what that really turns into is   You're not talking with your CPA. You're not coordinating with them. You're not being proactive. At the end of the year, you just want to do the least. So you just hand them all your stuff. I realize people don't come in boxes anymore. Now it's like, here's my QuickBooks password. Or I add you to my account. ⁓ And then they tell you how much you owe. But if you ran your business that way, if you just didn't look at anything all year, and at the end of the year, you're like, I wonder how we did. Wouldn't go so well if you didn't talk to your team about anything. What's that?   The Dental A Team (06:01) People do that though, Derick. They do it all the   time. This is not abnormal. They do it all the time. They're like, my gosh, I owe how much? my gosh, we didn't hit goal. And I'm like, ⁓ let's at least look at our numbers. Like that's step one. Step two, let's talk to our team. You're not wrong. I'm just shocked at how many people do this in real life. And I'm like, hey, there's a different way of living. like, maybe let's take that path. Just try it out. It's like t-shirt. Try that one on. It might feel better than your current oversized, like two baggy of clothes that don't fit. And then you're angry.   Derick Van Ness (06:11) I know.   The Dental A Team (06:30) the time. anyway go on didn't mean to interrupt the rant.   Derick Van Ness (06:32) What if I'm gonna be   a Gen Z VSCO girl? I I want the Oversight T-shirt and the angst.   The Dental A Team (06:36) Well, as I said it, as I   said it, I was like, well, that's like the current style. Like what's uncomfortable clothing? Maybe it's like the wool scratchy. I just came back from Iceland and I'll tell you what, I didn't buy a single shirt there. I was like, that is gonna scratch me. I know it's warm, but I'm not wearing that for the rest of time. Like there are softer clothes in this world that are equally as warm. Like I'll choose that. So that maybe you're wearing a wool scratchy sweater. Cause you never look at your numbers. You're always irritable. You're always angry.   Maybe you might get the oversized hoodie that's way more comfy. Maybe that's the better analogy for today.   Derick Van Ness (07:07) Well, and so you help them look at their numbers, right? What's your P &L? What are your KPIs? There are tax numbers too, right? Like I'm usually meeting with clients in September-ish to say, OK, how much have you made so far this year? What does that put us on track for December 31st? And then we have November, I'm sorry, September, October, November, December to do things to get that number at the end where you want it to be. I'm not talking about go out and spend $1.   to save $0.40, right? People do that. Oh, go buy a car. If you don't need a car, that's just a waste of money. I literally had someone who's like, should I just buy a G-Wagon? I'm like, only if you were going to buy a G-Wagon anyway. They want the tax break, but.   The Dental A Team (07:45) I mean, I asked that question too.   I mean, I do. I do ask it as well, but it's unnecessary. You're right. Like, so I can repel you you're not going to do it. Don't just because you get the tax benefit. You just have to pay the money. So, but I do ask because I want to know, just tell me I can buy the boat, Derick.   Derick Van Ness (07:58) Yeah.   Well, boats are totally different. They're way more fun, but they're also way more expensive to maintain. So I love boats. I absolutely do. But they are not cheap, right? As the saying goes, break out another 1,000. That's what boat stands for. Just go to the ocean and throw $1,000 in it every month. That's what owning a boat's like if you don't use it.   The Dental A Team (08:05) They are not. I know.   gosh, I've never heard that.   That's hilarious.   That's hilarious. I've heard like the best day and worst day of owning a boat is the day you buy it and the day you sell it. Like that's the only best days. I have a boat. I do love the boat. It is an older boat. things I'm not... Maybe mine's like break out a 10 because we've got a much older boat. But like, know, when we upgrade then we'll be in the thousand realm. ⁓   Derick Van Ness (08:28) So.   Yep.   Yeah.   Yes, yes. So boats are great. Not usually the best tax strategy. But the big thing here is when you sail a boat or when you drive a car, I heard this the other day and I thought it was perfect. It's like when you drive a car, what's bigger, the windshield or the rear view mirror? Most people are doing taxes in the rear view mirror. That is not about your expansive future. That's about recording your past, right? And so if you just did business planning one year at a time,   Like you wouldn't ever buy the building. You wouldn't ever invest in the equipment. You wouldn't ever invest in the education, right? It's the same thing for taxes. It is part of a cohesive and ongoing plan. ⁓ so when you want to plan that, we have to look into the future. And so looking into the future allows you to control your income, control your expenses. But you have to know your numbers to your point, right? Like if you don't understand a P &L,   It's really hard to do tax work because we don't know what your income is. And I have some clients who come in that way. And I have to really get them to understand that if you don't have good books, you don't have good data, it's like trying to do dentistry without a diagnostic. You just go in and start drilling teeth to see what's happening. No, you wouldn't do dentistry that way. Don't do that way with your taxes either. should I just buy this and I'll just buy that and randomly and I help those work out?   Your P &L is really like your diagnostic, right? Both on the income side, but also that's related to taxes. And so I think the big thing for people is think of taxes as an additional income stream. If you do this right, you can keep, like a lot of dentists pay 40 % or more in taxes, right? So if we can cut that from 40 down to 20 to 25 % on average, that's 15 % straight to your bottom line.   And it probably takes an average of two hours a month at most, which is pretty good, right? Like if you could add a new service into your business, no employees, no marketing, no overhead, two hours a month, but profits went up by 15%, would you take it? Most dentists would say, yeah, that six figures is pretty good.   The Dental A Team (10:53) As long as I'm not going to jail, Derick,   I don't want to go to jail. That's my only line. Like, how is this legal? Because so many people talk about tax strategy and my line is I'm willing to live in the gray, I'm just not willing to go to jail. So how do you go from 40 to 20 that's legal and ethical?   Derick Van Ness (11:01) you   Yeah, we don't want to go to jail.   Yeah, so there's two things. There are lots of little things. So research and development credits, which we'll get to in a minute, is one of those things. It's not little. I would call it a medium thing. For a lot of dentists, it's worth between $10, depending on the size of your clinic, $10,000 $50,000 a year. So it's sizable. And then there's all the pay your kids, cost segregation, salary and dividends, all that kind of stuff. And those things stack up. If you pay your kids right, then that can save you   The Dental A Team (11:21) I agree, I would too.   Mm-hmm.   Derick Van Ness (11:40) 10, 15 grand if you're in a state where you can pay your state taxes and have a federal write-off that might save you 10, 15, 20 thousand dollars a year. Taking a salary, the proper salary versus dividends that might save you another 10 or 15 thousand. So these things start to stack up but when you're in that 500,000 plus tax bracket there are things like and I can't totally get into details because this is stuff for accredited investors and I don't know who the listeners are and all that but there are   Investments you can make that have big tax breaks, right? And that could be everything from energy types of things to short-term rentals, different types of real estate. There's a lot of different stuff, right? So that sort of depends on what's the life you want to build and aligning that. ⁓ There are lots of charitable and donation type strategies where you can create some really big tax breaks. There's entity structuring, ⁓ where you take your income and how you take your income matters.   So you can really layer all of this stuff and make huge chunks, take huge chunks out of your business. The bigger you are, the bigger you can do with these things. And honestly, once you get over a million plus in income, then there's another layer of stuff you can do. It's just a lot of times the setup costs, you have to have enough tax burden to make it worth it. But there's some really neat stuff out there. And some of the stuff with the big, beautiful bill. ⁓   bringing back bonus depreciation. There's some really neat things where, oh, if you do a solar thing, you can get some credits, but then you can also get all the depreciation in the first year. And so you put in $100,000 into this type of investment. You may not make a lot of money, but you might get $150,000, $175,000, $200,000 worth of write-offs on your taxes. And when I say write-offs, mean dollars you don't pay, like true credit dollar for dollar. That could be huge, right? Things like that.   The Dental A Team (13:10) Yes.   Right.   Derick Van Ness (13:38) that a lot of people are just unaware of. And don't take that as an investment advice. I'm just telling you about things that exist in the world that may or may not be for you. Check with your financial professional. But yeah, you start stacking all these things up and you go from, I wrote $150,000 check to, I wrote a $60,000 check. And then what I like to do is help people take that 90 grand you would have given to the government. And now let's add that to what you would already save. And for a lot of people, that's   The Dental A Team (13:47) That's amazing.   Derick Van Ness (14:07) a lot more than they were already saving. So we more than doubled their savings rate. And the fastest thing you can do to build wealth is just get more money into the equation. So that's really it is we're trying to create money that you can then put to work for you outside your business. Because what nobody ever tells you is, even if you're an amazing dentist and you make all this money and you sell your practice for top dollar, and you get all that money, you become a professional investor.   The Dental A Team (14:27) you   Derick Van Ness (14:36) And if you don't have any investment skills, if you don't know how to put that money to work, if you don't know how to protect it, you're just a lamb to the slaughter. You know, everybody shows up, they got an idea. Your brother-in-law wants to start a coffee shop or a brewery. Your neighbor has the next best tech app. And all of a sudden, all this money just starts disappearing because you're not seasoned. So one of the things we like to do is get people doing these types of investments, learning, getting a skill set around it so that when you do get that big   big shot when you sell your business or you have those huge tax or those huge years and you don't pay all the taxes, you know what to do with the money. Because that's a whole different skill set than running a dental clinic.   The Dental A Team (15:17) I don't disagree. And that's why Derick, I love having you on here. And I think your comment of the goal is to get more money to put into the equation. What are the things like, I have 90 grand or I have 150. What are some of those investments that, again, realize that we're being generic and there's a reason you have to be generic is because there are rules that financial planners, advisors, CPAs have to abide by. in general terms, Derick, what are some of the ways that   Derick Van Ness (15:25) Mm-hmm.   The Dental A Team (15:45) you found to generate higher levels of wealth? We're putting more money into the equation, but what's the equation that's going to get it? And again, I know this is very, I would say like vanilla. We're just talking very much basic.   Derick Van Ness (15:56) Yeah, yeah, I'll just   give you the principles, right? The philosophy behind it. One of the things is we always, all of our lives we've heard diversify your assets. Diversify, diversify, diversify.   The Dental A Team (16:06) all weather portfolio, Ray Dalio, right? Like you got to get it everything, have it all. What is it like? think eight uncorrelated assets or something like that is what it should be. Anyway, there you go. Okay.   Derick Van Ness (16:09) Yep.   8 to 16 non-correlated asset   classes. Yep. And the idea here is this. It used to be that you could put your money in the stock market. And each individual stock did its thing based on what its performance was. Since the late 90s, early 2000s, everything's kind of gotten grouped together. Almost everybody just buys the S &P 500 or just buys index funds, which is basically the whole market.   And so if you look at the top five stocks, which are usually the Google, Apple, Tesla, Nvidia, depending on one or two others, ⁓ whatever they're doing is usually what the market's doing, right? It all has a tendency to ebb and flow together because it's all been chunked together. So I don't see those all as different asset classes anymore. How I personally invest, I'm not saying you need to buy into my ideas, but so you can have money there. But then I do think you want to have money in other things.   that maybe aren't tied to the stock market. Maybe you've got some oil and gas. Maybe you've got some farming communities in Central America. Maybe you've got someone who's doing senior living homes, someone who's developing all these empty office buildings. And they're all tied to different things. So that way, if the stock market takes a dump and goes down, that's not all your portfolio. Maybe it's 15 or 20%.   if real estate takes a hit. Yeah, your real estate takes a hit, but maybe something else does well. Having things in your portfolio that if some of them struggle during inflation, some of them do well during inflation, right? Things like gold that holds its value. And so the idea is to be able to put your money to work in a way where it's in a bunch of different buckets that aren't all tied to the same thing. And what that really creates is stability, right? And why that's so important is when you're growing your money,   The Dental A Team (17:46) Mm-hmm.   Derick Van Ness (18:09) You can have the ups and downs a little bit, but when you go to start pulling money out, the volatility, the ups and downs are what really kill your ability to pull money out, because you have to always protect against the downside. And it's why if you look at the market historically, it'll go up, depending on who you ask, 6 to 8%. But when you're pulling money out of the stock market in retirement, the numbers say sustainably over the long term, you can only pull 3 to 4%. Why is that? You would think, ⁓ I can pull.   The Dental A Team (18:21) Mm-hmm.   Right.   Derick Van Ness (18:38) six to eight, but it's three to four because of the volatility. If you are counting on that, it crashes that year and you sell. Then when the market recovers, you have less money to recover with. And over time that stacks up. So the idea there is to work with someone who has the ability to put you into different asset classes, help educate you. This also gives you a chance to try different things. So you can start to get that seasoning we were talking about and learn how money really works because   The Dental A Team (18:43) Right.   Derick Van Ness (19:09) You know, money, health and relationships are the three things that really dictate the quality of your life. And it's funny, we don't spend a lot of time in them in school, right? And so, ⁓ so it's something you have to learn, just like if you don't learn how to take care of your health, you suffer. If you don't learn how to have good relationships, you suffer. And money is another thing. All of those you can get help with, but at the end of the day, you have to be able to be competent enough.   to get the results you want. And money is just one of those things.   The Dental A Team (19:40) Yeah. No, Derick, that's a, think it's such a good way to look at it. And I will say, I was very much a baby investor and I think I still would qualify myself as pretty naive. But it is, they say like, I don't know, what is it? The eighth wonder of the world is compound interest. And it's crazy because when you start out and you just get started on your investments, it feels like this is stupid. At least I have, I've so told many financial advisors, feel like they like,   Derick Van Ness (20:04) Mm.   The Dental A Team (20:07) money monster. So it's like the cookie monster. Like I give my money to you. I never can get it back. I have no clue how to access this money. And then you start to see it and you're like, wow, that started to compound and this started to become different. And we had our first year with it. We didn't have to write such a large check to the IRS and done legally and ethically. And I was like, wow, this is a very different world that I'm living in than I have been. And it wasn't as hard as I thought. And so I, like you said, I do feel like you're   Derick Van Ness (20:11) Yeah.   The Dental A Team (20:33) comfort level and they do say that women tend to be better investors than men because women, we just put money in, we give it to you. We're like, here you go. We don't ever like go check it and watch the stocks. Stocks. Whereas men are like, cons I'm like looking at those stocks, like my husband checks it like 10 times a day. And I'm like, just don't even look at it. Like I don't even, it's the cookie monster, the money monster. You take the money. I know you haven't like taken it. People get angry with me. They're like, Kiera, we can't legally take your money. And I'm like, no, but I just have no clue how to access it. They're like you email. And I'm like, I know.   Derick Van Ness (20:44) Right.   Yep. In your brain, right?   The Dental A Team (21:02) but it like stocks and then I got to pay taxes and I don't understand any of it. But I will say, I think it's like PNLs, the language of money, the language of investing. It's a skill that you are learning. And I do agree, the younger you can learn this, the more time you have to recover if you make mistakes and versus having to be perfect later on in life. So I really very much subscribe to your model of thinking. And I love that. I love that you've talked about taxes, how to save, how to get it into   Derick Van Ness (21:11) Mm-hmm.   The Dental A Team (21:31) Again, I remember I sat in a Tony Robbins wealth mastery thing. Ray Dalio was in the room. had no clue who half like Paul Tudor Jones. I think that's his name. Like so freaking smart. I had no clue who these people were. And like here you've got like five billionaires sitting in the room with us. And I was like, I had no clue. And they start talking about this stuff. And I feel like an idiot, but I will say it's an idiot that I love to be because the more I learn about the more I'm involved in it, the more you expose yourself, the more you learn how it works.   Derick Van Ness (21:38) John Paul Tudor, yeah.   Yeah, I remember.   The Dental A Team (22:00) And I think like what you're saying, Derick, I just hope people talk to your financial advisors, get your uncorrelated assets, start building that portfolio because time, like they say, you only have so much time and the best time to plant a tree was like a hundred years ago. The next best time is today. And I just, I don't want to be that person when it comes to my portfolio where I wish I would have started. All of us will wish we started sooner, but I am grateful that we started as young as we were and are building it the way we have versus   Derick Van Ness (22:23) Yes.   The Dental A Team (22:28) waiting until like, and I don't care if you haven't started then start today. If you've been doing it, figure out how you can do more. ⁓ But I think Derick, I have a question of, I always live in scarcity. So what do you tell a client like myself where I'm always afraid that I'm going to run out of money. I don't know where it comes from. It doesn't matter how much I have. I have acorns upon acorns upon acorns. I swear like you've probably can find money in my couch. I'm not that bad. I don't have it in the couch, but like,   Derick Van Ness (22:32) Yep.   The Dental A Team (22:54) How do you get to a level where you feel comfortable spending money rather than just always saving for retirement and not living today? What's the balance of that?   Derick Van Ness (23:03) Yeah, so what I've discovered working with over 2,500 people on all of this, Kiera, is like money problems don't like quote unquote go away. They just change. In the beginning, it's like, how do I make money? I don't have enough money. How do I manage the car payment or whatever? Then you make a little bit more and you're like, okay, now I'm past survival. Like, how do I start to grow? Right? So you invest in yourself, your business, your education, whatever. Then you start to grow some more.   Then you start saying, okay, now I'm growing and I'm making money and I'm living a decent life, but how do I build for the future? So it's not just the now, then it's the future, right? And then what happens is you definitely get to a point, at least I've seen this for myself and a lot of clients is you start to make a good amount of money and the problem becomes how do I make sure that this doesn't ever go away?   Right? Like now I'm living this really good life and I can travel and I can spend time with family and I can do the things that I want to do. And I can buy nice clothes or go to nice dinner or do nice things for my kids or whatever your thing is. And I don't have to think about money. But then there's this fear of like, what if I lose that? Right. And going back. And so the money problems just change. I believe it's an instinct that's built into us. Like the monkeys that ate bananas and then just stopped worrying and didn't hoard them.   ended up dying faster than the ones that hoarded them, right? And so, like, I think it's an instinct to be paranoid, to be fear-driven, and that's where we have to, as humans, understand our wiring and say, my wiring is for survival, not for happiness and fulfillment, right? Because survival is what reproduced. Happiness and fulfillment, especially in a scary world of survival, ⁓ doesn't do very well.   The Dental A Team (24:27) Sure.   Derick Van Ness (24:52) Right? So, so we have to try to rewire our brain as much as we can. ⁓ And I think the biggest thing is to focus on a big future, a big vision. When you're moving towards something, then you're not focused on moving away from something. When you're in fear, you're, moving away from something. I'm moving away from failure. I'm moving. I'm trying to avoid losing money. I'm trying to avoid running out, trying to avoid making a mistake. You know, this about business ownership, like you can't avoid the mistakes. You just try and minimize them.   and learn from them as fast as you can. Like making mistakes is part of success and nobody says it that way, but I think it's really, really important to get that. And when you're moving towards something, you're in abundance, you're in striving, you're in goal oriented, whatever your thing is. And that doesn't have to be about money. That could be, I wanna be a great parent. I wanna get in better health. I wanna have more free time and make the same money.   So this isn't like just a money conversation, but when you're moving toward those, you have a tendency to lose your fear. I think it's when we aren't sure where to go next that we get afraid of losing ground and we do that. And so I think sometimes it's just a matter of clarity and reminding yourself, where do I want to go? What am I building? Like once you get past a certain point, like, you know, once you get past a certain amount of income or a certain amount of wealth, it's not about money anymore.   Right. It's really about contribution. It's about impact. And I think when we, our mind can really only focus on one thing at a time, especially as men, ⁓ women are much better at seeing the big picture. ⁓ But, but really when you're focused on something that holds your attention and then it doesn't drift to some of the other stuff as much, it doesn't mean you won't. Cause I'll tell you, I'm at my most vulnerable when I wake up in the morning and my brain starts doing payroll and all these other things. And like you said,   The Dental A Team (26:26) you   Derick Van Ness (26:47) I have enough cash stored away that I could not make a dollar for a year and still pay for my whole business and do the whole thing and be fine. But that doesn't mean that that instinctual part of me doesn't freak out for a minute until I come in and say, hey, we're building massive things. We're changing people's lives. Let's just focus on that and let the rest take care of itself. That really is the best thing for me is to focus on where I'm going, not where I'm afraid I might end up.   The Dental A Team (27:15) Absolutely. I   think that was good. Good wisdom there. You are the person, if you guys have heard me talk about it on the podcast, this came from Derick. He's the one who's told me it's a return on emotion, not necessarily a return on investment and like what helps you sleep at night, what helps you stay there. And I love that you talked about like it is a survival instinct. It's not a bad instinct. so loving that side, but also tempering it so that way we can enjoy the fulfillment. And again, I also think that there becomes confidence in yourself. I think enough.   enough business crashes, enough mistakes, enough things where you come back from it also teach you that there's certainty within yourself that no matter what comes your way, ⁓ you know that you'll be able to survive it, you'll be able to come. Someone told me once, it's not unsafe, it's just uncomfortable. Unless someone's running at you with like a knife and it's truly life threatening, it's like if the stock market crashes, that's like we're still safe, it's just going to be pretty dang uncomfortable for a little bit. If we become bankrupt,   Derick Van Ness (27:47) Mm-hmm.   Mm-hmm.   The Dental A Team (28:13) We're not unsafe, we're just uncomfortable. And that has given me a lot of, I think, temperance on when you think about finances, like that'd be uncomfortable, but I am still safe and I would still be alive and we can come back and we can figure things out. So Derick, I know we wanted to pivot gears and talk R &D credits, because this is something that's new. yeah, let's kind of chat that because I think we've gone through tax strategy, building wealth mindset around ⁓ how to maintain and have that.   Derick Van Ness (28:30) Well, yeah, we'll keep it short here.   The Dental A Team (28:42) return on emotion and building those skills. And I really love that you just said money issues don't ever go away, they just change shape. And I think that that's the same as business, right? Business problems just become a different flavor and different color. ⁓ But now let's talk about like some R &D credits because we've talked about R &D. I've seen several clients do very well on R &D credits. So was excited to hear like, they're back and they're back again, and they look a little different. So I'm excited to hear if you guys don't know what they are, Derick will definitely explain them and how you can.   Derick Van Ness (29:02) Yep.   The Dental A Team (29:08) Dental practices are ripe for the picking of R &D, it's exciting to have a resource for dental practices.   Derick Van Ness (29:15) Yeah, dental practices really are because the R &D credits are designed when you do new things in your business that are based in technology. And that could be computer science, engineering, biological science, or physical science, like chemistry, ⁓ which dentists are doing all of that stuff. So when you do new stuff in your business, the government realizes you're taking a risk. You're trying a new implant system. You're trying a new ⁓   a new type of diagnostic, you're trying a new flow for your patients, whatever. Sometimes it blows up in your face. I everybody listening here has tried a new piece of software and after six weeks you wanted to throw the computer out the window and you're like, we're going back to the other one, we got to find something else, right? ⁓ Or we tried 3D printing and it was just really, really hard and like some people love it, some people hate it. But at the end of the day, every time you take that risk, the government knows that you could lose money.   The Dental A Team (29:57) Totally.   Derick Van Ness (30:11) So the R &D credits are really their effort to say, don't stop innovating. Don't stop trying to get better. We know you're going to take some skin, knees, and elbows along the way. And we're willing to give you some credits to help with that. so ⁓ dentists, like dentistry is moving so fast. I don't have to tell the listeners that. There's new stuff every single quarter, every single year. Five years ago, everybody was getting crowns to be milled. Now they're 3D printing teeth and doing all, you know.   digital scans and all the other stuff and pretty quick here, think we have robots doing surgery. I don't necessarily want to be the first person to try that, but.   The Dental A Team (30:45) Yeah, me neither. I'm like number   like 200,000. I'll try it at that point. I'm usually like number two jumping off a cliff if the first person's alive, then I'll jump. Unlike innovative robots, I only have 28 teeth left, so I'll just let them practice a bit more before they come to me. It's okay. Stick with the drill and fill. Yeah, the drill and fill, I'm okay with it. It's all right. It's better.   Derick Van Ness (30:51) Yeah.   Yeah.   Yep.   I'll just pay a little more for the people.   Yes. so effectively, most dentists just don't realize they're qualifying for these credits. And so what we try to help them do is we do a free estimate to help you understand, OK, let's go through the different things that you did in your practice. It takes maybe a half an hour to identify the different things you've done. And right now, there's a window. And this is why we wanted to talk about this today, that closes on the 4th of July of 2026. So we've got about three or four months left.   where you can go back and you can file for 2022, 2023, and 2024. I don't want to bore everybody, but effectively when they did the 2017 tax rewrite, the first Trump tax rewrite, it broke the R &D credits in 2022. You could file for them, but the downside was bigger than the upside, so it wasn't worth doing. Now, they kind of did that on purpose to balance the budget, and they thought, oh, we'll change it before 2022, and then COVID happened, so they never changed it.   So it got broken. So they came back and they fixed it and said, hey, you guys can go back and claim this, but you really only have until the 4th of July. So they gave us one year to do it. ⁓ And so it's a big opportunity, a big window right now where you can get three years worth of credit. So you can literally go back. The government will send you a check for taxes you've overpaid, and you can get that money back. I won't tell you the IRS is really fast at processing this stuff, but they do get to all of them.   The Dental A Team (32:23) Wow.   No.   Derick Van Ness (32:34) And the checks come in, and we've done over 1,000 of these for clients. So it's definitely a legit thing. And the credits have been around since the 80s. They became a permanent part of the tax code in 2015. So they were kind of new. They've been around about 10 years. But the first couple of years, nobody knew. then over the last couple of years, they've become more and more popular. But then they kind of screwed them up in 22 through 24. So the reason I wanted to talk about them is if somebody is a dentist, they're not claiming these credits. But they are doing.   The Dental A Team (32:38) Wow.   Derick Van Ness (33:04) Innovative things upgrading equipment trying new software trying new techniques new implant systems new Diagnostics, whatever you probably got all these credits sitting there. You don't know about and It's worth getting a free estimate to see what's on the table. Yes You do have to amend your taxes, which is a very small pain in the butt But your total time into this should be an hour or two, which is really a short conversation You send over tax returns ⁓ A team like ours would give you an estimate   And if it seems like it's worth doing it, then you do it. You just let them do their thing and you write the check for the fee, right? So it's pretty hard to beat bang for your buck hour for hour. And like I said, for a lot of practices, it's between 1 to 2 % of your gross revenue. This is not a quote. This is just like what I've generally seen. So if you have a million dollar practice, it's probably 10 to 20 grand a year if you're doing these types of things. I mean, I have some. We just did a doctor who's got   Six offices they're getting almost a half a million dollars back right it can be it can be major and Doesn't take him any longer than to take someone with one office so you know it's it's just a big window of opportunity that I wanted to try and squeeze in here and People who haven't done this or unaware. It's like hey, we got a big opportunity and you can do this for 2025 moving forward every year. It's it's back indefinitely and so my hope is   The Dental A Team (34:07) It's incredible.   Derick Van Ness (34:32) People can do the catch up. And then from here forward, you don't even have to amend. You just party your tax return. You just don't pay the taxes. Just like you depreciate equipment or anything else and just get the tax break, the difference is tax credits are dollar for dollar. So if you get $10,000 tax credit, it's just $10,000 you don't pay in taxes, not a $10,000 write off, which might be worth $3,000 or $4,000.   The Dental A Team (34:40) awesome.   Mm-hmm.   Totally. No, and I think Derick, I'm so glad you brought this up. And at first I was creeped out by you. I'm not going to lie. Like when you first started talking about it, was like, are these like, I don't know, what are they called? The opportunity zones. And like, I heard a lot of people got their shorts burned on those. And I was like, do I even put this on the podcast? But I will say, Derick just said he's done thousands of them. They have had great success. I have seen clients tell me, thank you. So that's why I wanted Derick to come on because any client that comes from Dental A Team does get preferred.   Derick Van Ness (35:03) you   huh.   The Dental A Team (35:26) I don't know treatment. don't know what you guys do, but I do know that there's, ⁓ you guys get, you just said you get pushed to the front of line. If you mentioned you heard on Dental A Team podcast, we also have a link with big life financial. I'm pretty sure Derick, if I remember right, I'm pretty sure we do. ⁓ but definitely wanted you guys to have that, especially with a closing in July. And it's something where I love that Derick will just like, he's met with me and my husband several times to talk about multiple things. Derick is non pushy. And I appreciate that about you, Derick. You ⁓ educate.   Derick Van Ness (35:27) Treatment, yep, yep, front of the line.   We do. Yep.   The Dental A Team (35:56) and then give people the information and then you're to make the decisions on your own. So I think like, why not? Why not reach out to Derick? Why not just like see what it looks like? And then you have their resources. They're not going to file unless you want them to. You don't have to break up with your CPA if they file for you. I'm pretty sure. Is that right? Like you don't have to switch.   Derick Van Ness (36:09) Correct.   No, no, yeah,   you don't have to. We can amend it for you. But in a lot of cases, it makes sense to just have your CPA do it. They've got all your information. So but we can handle it either way.   The Dental A Team (36:25) So I think like on that, I just feel it's very much worthwhile. And I know Big Life Financial does a lot. do. I'll let you like take it because I know you guys are added to more services. But I think like if nothing else, we want to have the call to action of like, just look into the R &D credits. Like I said, I have seen multiple checks go to practices. They have not been audited. ⁓ Things have gone very smoothly for them. I was skittish. But I mean, Derick, we've been talking about this, I don't know, almost five years now, if not longer, that we've been telling practices about it. So.   Derick Van Ness (36:52) Yep.   The Dental A Team (36:54) very excited, but Derick, kind of tell about the makeup of what Big Life Financial is and then how people can reach out to you, especially in particular to the R &D credits.   Derick Van Ness (37:04) Yeah, so for the R &D credits, just go to, it's just BigLifeFinancial.com So BigLifeFinancial.com/DAT D-A-T right? Dental A Team. And all you got to do is just set up a time there to talk with myself or someone on my team. It's like a 15 minute call. And we'll just screen it, see if it makes sense. Beyond that, we do offer full service taxes if for some reason you're looking for tax breaks or you feel like you're, for one reason or another, you need to make a change.   then we can do that. We do also work with an RIA. So if you're looking for some of these investments that might have tax breaks or other diversification or whatever, we have those capabilities as well. So we really try to be front to back like what we call like a family office or a fractional family office, which is what the super rich people have. They just have an attorney and a CPA and a   Uh, an insurance guy, an investment guy, or probably 10 investment guys who all just work for them. Obviously most people can't afford to have an entire team that just works for them. So we work with a limited number of people, but we have a coordinated team that way. And, and it's taken me like 10 years to find the right people to do that. That's, that's really it because the Uber wealthy have those people, the people who are making 50 or a hundred thousand bucks a year, they don't need it. We really work in this sweet spot where a lot of people make.   300,000 400,000 on the low end to 2 3 million on the high end. And they're kind of in between, not rich enough to have the team that's all working together all the time, but rich enough that you really need it. Like this segment of the population is the one that just gets crushed on taxes. ⁓ And so we're really doing our best to help minimize that. So that's why we work so much with dentists and doctors.   The Dental A Team (38:56) That's amazing. I love that Derick. And I think for everybody, it was BigLifeFinancial.com slash DAT. We'll be sure to like link that in the show notes and also add it for you guys. But, and Derick, love, I didn't know what a family office was at first. And then I found out hanging out with a lot of wealthy people, what it is. And so for you to provide that, think worth conversations ⁓ and definitely appreciate the insights today. It was a really fun episode. I'm glad we got back together. It's been too long. ⁓ And like truly guys, just reach out.   Again, I would do it as exploration. would do it as like, just find out anytime I hear things like this, I just go book meetings. It doesn't mean I need to actually execute on it. But I think again, learning the language of business, learning the education, seeing if it fills right for you. Now you can ask a million people, but like I said, Derick and I have been doing this for about five years and every client that has been referred to Big Life Financial has gone through, has told me how much they've been grateful for it. So Derick, I appreciate you. Any last wrap up thoughts today as we wrap up today? I appreciate our time so much today together.   Derick Van Ness (39:55) No, I think it's just understanding that part of building wealth is beyond just making income, right? Just making income won't build the life you want to live. Once you earn the money, you got to take care of it. And there's a lot of pieces to that. So whether it's with us or someone else, just take that on for your family's sake. It's not just about making it. It's keeping it and being smarter with it. And if you do that, you're going to be in good hands.   The Dental A Team (40:20) amazing. Well, Derick, thank you so much for being here today. Thank you all for listening. I love what Derick said, like it's not just enough to make the money, we need to figure out how to keep the money and set yourselves up for the great lives that you've been building and to truly have that big life as Derick has described it. So for all of you listening, I hope that today you don't just passively listen, but you actively take action and commit to having the wealth of your life, the wealth of your dreams to have that life that really ⁓   is the life of your dreams. there's a quote from my mirror from when I was little where I said, don't just dream, do. And I think that that's how I'll leave you today. So for all of you listening, thank you for listening and we'll catch you next time on the Dental A Team Podcast.

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