Podcast appearances and mentions of John T Reed

I had the pleasure of speaking with the founder of Thesrilathagroup.com, Sri Latha. Sri is an investor in apartment buildings, and she helps full time working professionals like you learn how to do the same. She truly believes that finding the right strategy that fits with your risk profile, your life, and your goals is the key to getting your real estate investing off the ground.  Let’s jump into Sri’s story on imagining a world where one property could replace your salary and create some real wealth for your family    Things you will learn in this episode: [00:01 - 05:10] Opening Segment I welcome our guest, Sri Latha, to the show Sri Latha talks about her background and how she got into real estate investments [05:11 - 10:50] How Sri Built Her Real Estate Portfolio  Sri shares an interesting story about how she learned to invest in real estate She reads books of John T. Reed When she started narrowing her niche  Sri shares about how inexperienced she was before when it came to calculating new rents on the market, refinancing, and building cash flow. Sri talks about the first time she bought her first 12-unit apartment in Dallas.  [10:51 - 17:08] Strategies on How To  Increase Your Cash Flow and Equity  Sri talks about the importance of having a good team in place to scale your real estate business  Do background research first before hiring a property manager  Signs of red flags that you should avoid  Sri shares her strategies in expanding her real estate investments Why she bought properties in the East Bay  The reason why she sells properties  [17:09 - 24:12] Solidifying Your Real Estate Business Strategies   Sri shares valuable insight into the key takeaway from the first property she bought in Dallas Solidifying the strategy itself  Sri talks about the strategy that gives you the right combination of cash flow and equity  Their plan in deploying their capital outside the estate  Acquiring a hotel to convert to a multifamily    Sri talks about her choice of neighborhoods in buying properties C neighborhoods  Hotels that are not making enough money  [24:13 - 27:07] Go One Step Deeper  Sri sheds some light on her advice to her younger version of herself “Go one step deeper than what people are telling you.”  Add value  [27:08 - 31:52] Call To Action  What is a pain-point or weakness you face right now in your business?  lack of time What is your favorite book to regift? Atomic Habits by James Clear If you were to live abroad for a year, where would you live and why? Singapore. It’s very interesting and quite culturally similar to India.  Visit Elite Podcast Bookings the #1 Real Estate Podcast Booking service, and get 25% off the new Economy Plan. Final words from your host   Tweetable Quotes:  “The reason why we sell is that we want that exponential growth at the beginning of our journey.” -Sri Latha. “Always digging a little deeper when whenever you hit a roadblock that says no, you can't do it.” -Sri Latha.    Resources mentioned in the episode: Atomic Habits by James Clear Te Sri Latha Group  Podcast Questionaire   Visit Elite Podcast Bookings, the #1 Real Estate Podcast Booking service, and get 25% off with our new Economy Plan. You can connect with Sri on Instagram, Facebook, LinkedInhttps://www.linkedin.com/in/srilatharealtor/,  email her at sri@thesrilathagroup.com. or visit her website https://www.thesrilathagroup.com/ LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes. To know more about me and all the real estate opportunities you can find, check out my website at MatthewBaltzell.com. Book a free 15-minute call with me. Click here!

Padre Rico y Padre Pobre es un libro escrito por Robert Kiyosaki y Sharon Lechter. Evoca el concepto de libertad financiera a través de la inversión, los bienes, ser dueño de negocios y el uso de tácticas de protección financiera. Padre Rico Padre Pobre está escrito de una forma anecdótica y está orientado a crear un interés público en las finanzas. Kiyosaki y Lechter aconsejan que ser dueño de un sistema o forma de producción, es mejor que ser un empleado asalariado. Este es un tema recurrente en los capítulos del libro.El libro está basado en la educación financiera que Kiyosaki recibió de su "Padre Rico" en Hawái, aunque el grado de ficción de estas anécdotas está en discusión. Por el intensivo uso de alegorías, algunos lectores creen que Kiyosaki creó deliberadamente a su "Padre Rico". El libro remarca las diferentes actitudes hacia el dinero, el trabajo y la vida de estos dos y como ellos tuvieron influencia en la vida de ambos. Principales temas del libro La importancia de la educación financiera Las corporaciones gastan primero, luego pagan impuestos, mientras los individuos pagan impuestos primero. Las corporaciones son entidades artificiales que cualquiera puede usar, pero generalmente los pobres no tienen acceso a ellas ni saben cómo tenerlo. Según Kiyosaki y Lechter, la riqueza es medida como el número de días que el ingreso de tus activos puede mantenerte, y la libertad financiera se logra cuando tu ingreso mensual por tus activos excede tus gastos mensuales. Muchos lectores creen que el "Padre Rico" en el libro es realmente el fundador de las tiendas de Hawaii ABC Stores. “Ahorrar dinero no va a hacerte rico.” “Los ejercicios físicos mejoran la salud, los ejercicios mentales mejoran la riqueza, la pereza destruye ambos.”Padre Rico Padre Pobre ha sido criticado por no tener casi ningún consejo en concreto y demasiadas lecciones anecdóticas. Según opiniones hay lectores que terminan el libro y sienten motivación para salir de la "carrera de la rata" solo para darse cuenta pronto de que no tenían idea de cómo proceder. Algunos consejos dados en el libro son considerados pobres o inclusive peligrosos por otros inversores. Por ejemplo, el hecho de aconsejar enfocarse en ciertas "buenas inversiones" y no diversificar, es un error que se enseña a evitar en la academia y Kiyosaki le resta valor. John T. Reed, un crítico conocido de Kiyosaki, dice, ""Padre Rico Padre Pobre" contiene muchos consejos pobres, muchos malos, muchos equivocados, muchos peligrosos y virtualmente ningún consejo bueno". Él declara , ""Padre Rico, Padre Pobre" es uno de los libros financieros más estúpidos que he leído. Contiene muchos errores y una numerosa cantidad de eventos imposibles que supuestamente ocurrieron." Algunos de los hechos que alega Kiyosaki en "Padre Rico, Padre Pobre" sobre sus logros se han considerado exageraciones o mentiras. Han especulado sobre la identidad y la existencia de su "Padre Rico", razonando que este hombre, al cual Kiyosaki describe como "unos de los hombres más ricos de las islas", debe ser muy bien conocido en un estado tan pequeño como Hawái. En febrero del 2003 en la revista SmartMoney, Kiyosaki en vez de alegar que su "Padre rico" es una persona de verdad, dijo, "¿Harry Potter es real? ¿Por qué no dejan que Padre rico sea un mito, como Harry Potter?"

014. John T. Reed Publishing | John Reed was born and raised in Southern New Jersey. He was a West Point ’68 paratrooper ranger, radio officer, Vietnam, real estate agent, property manager, Harvard MBA ’77 married in 1975 wife Harvard MBA ’78 started buying residential rental property in 1969 and continued for 23 years. Wrote for Real Estate Investing Letter from 1976 through 1985. Started own Real Estate Investor’s Monthly newsletter in February 1986 to date. Author-publisher-distributor of 34 how-to books on real estate investment, football coaching, baseball coaching, succeeding, self-publishing, and how to protect your life savings from hyperinflation and depression.*** For Show Notes, Key Points, Contact Info, & Resources Mentioned on this episode with John Reed, visit here. ***   

In this episode, podcast host and author of “Control Your Retirement Destiny”, Dana Anspach, covers Chapter 9 of the 2nd edition of the book titled, “Real Estate and Mortgages.” If you want to learn even more than what there is time to cover in the podcast series, you can find the book “Control Your Retirement Destiny” on Amazon. Or, if you are looking for a customized plan for your retirement, visit us at sensiblemoney.com to see how we can help.   Chapter 9 – Podcast Script Hi, this is Dana Anspach. I’m the founder and CEO of Sensible Money, a fee-only financial planning firm. I’m also the author of Control Your Retirement Destiny, a book that covers the vast array of decisions you need to make as you plan for a transition into retirement. This podcast covers the material in Chapter 9, on real estate and mortgages. If you like what you hear today, go to Amazon and search for Control Your Retirement Destiny. And, if you are looking for a customized plan, visit sensiblemoney.com to see how we can help. ————— It was about 2010, and I was having a conversation with a woman who I considered to be successful and intelligent. Suddenly she says, “Well, stocks are a much better investment than real estate, right? You’re a financial planner, so isn’t that what you tell your clients?” I was speechless. A good planner plans. Planning encompasses all aspects of one’s financial life, including real estate and mortgages. It would be irresponsible for a financial planner to make a statement such as “stocks are better than real estate.” Many financially independent people that I know accumulated their wealth through real estate. On the flip side, many people I know experienced bankruptcy and foreclosure by stretching their real estate investments TOO FAR. Real estate can be a profitable investment if you know what you are doing, and a disaster if you don’t. When nearing retirement, all aspects of your financial situation need to align toward a common goal: generating a reliable source of cash flow. That means real estate and mortgages need to be evaluated just as carefully as other items on your balance sheet. In this podcast, I’m gonna start by talking about your home and mortgage, and address one of the most common questions, which is, “Should you pay off your mortgage before retirement?” Then we’ll talk about home equity lines of credit and how to use them in retirement. And we’ll move on to discussing investment properties, and the last thing we’ll cover will be reverse mortgages. First, let’s talk about your home. Is it an investment? Meaning is it something you hope to make money on? Or is it a lifestyle choice - something you purchase for comfort and pleasure? Everyone has their own opinion on this. For most people, the answer lies somewhere between these two extremes. I rarely see people buy a personal residence solely because they think they can make money on it. Most of the time other factors like location, the type of neighborhood, and other personal lifestyle preferences have a big impact on a home purchase. Yet, when discussions about retirement start to happen, at that point, people often take a fresh look at their home as an asset. For many of you, a portion of the value of your home will need to become a part of your retirement income plan. If you know this ahead of time, you can put more thought into your next home purchase, how you finance it, and figure out how it fits into your plan. When I talk about fitting a home into your plan, I am not talking only about downsizing. There are other creative ways to think about your home and where you live. For example, you can choose a home that has ample access to public transportation, so you would not need a car on a daily basis. With services like Uber and Lyft, this option can work well today and result in a net savings over the cost of auto ownership. You can make your home as energy-efficient as possible, and make sure it has a garden or other area conducive to growing your own food. Another option is to rent a room in your home, or buy a home that has space that can be converted into a rental. For a large portion of my adult life I had roommates. Financially, it helped cover the mortgage. For me, of even more importance, it provided me with a built-in pet sitter. I’m a dog lover. When I traveled for work or to see family, I never had to kennel my pups. This saved me quite a bit of money over the years. And today, online options like AirBnB or VRBO.com (which stands for “vacation rentals by owner”) allow you to rent out your home, or a room in it, on a temporary basis to travelers. Or maybe you’re thinking about moving once you’re retired. Look for states that are tax-friendly for retirees. A simple Google search on “tax friendly states for retirees” will lead you to a few great articles that show you which states might be best. There are many creative ways your home can contribute to your retirement plan. One of the most common questions about a home is whether you should pay off the mortgage before retirement. When I started in the financial planning business in 1995, we were trained to tell people that they could earn a higher rate of return by investing their money rather than paying extra on the mortgage. I was 23 years old and told people what I was trained to tell them. Today, I don’t agree with that one-size-fits-all type of advice. I think most Americans are better off paying off their mortgage by the time they retire, but, not all. The Center for Retirement Research at Boston College has done research on this topic and has an online paper available titled, “Should You Carry a Mortgage into Retirement?” In this paper, they also conclude that most retirees are more financially secure by paying off the mortgage before retirement. The research paper rejects the argument that households can earn a higher return in stocks or other risky assets. The paper addresses the practical consideration that folks trying to manage their investments for a higher return can make poor investment choices and easily mismanage their money. Cognitive decline is real, and older Americans also fall for scams. This is something to keep in mind. The money in a paid off home is safe. Paying off the home can also be a way to trick yourself into saving more. Let me tell you about how this worked out for Jackie and Bob, who wanted to retire early. Each time they came in to review their plan I would explain to them that they needed to save more in order to make early retirement happen. A year later, they would come back, and their savings had not increased. They had the income to save more, but it wasn’t happening. Finally, I decided to try a different approach. I suggested they make extra payments on their mortgage and told them as soon as their mortgage was paid off, they could retire. Suddenly they began making progress! Seeing the mortgage balance go down was tangible. They could measure their progress toward a goal that they wanted to achieve. Accumulating money in their investment accounts where the value would fluctuate from month to month just didn’t have the same effect for them. Soon their mortgage was paid off, and today, they are happily retired. Now, this worked for Jackie and Bob, because they were already funding their retirement accounts, and still had extra money each month to apply to their mortgage. Are there some groups of people who may NOT want to focus on paying down the mortgage? Yes, there are. There are four scenarios I see where it may NOT make sense to pay off the mortgage.If you are ten years or more away from retirement and trying to decide whether to pay extra on the mortgage or put more in your 401k plan, the right answer for you may be different than the right answer for Jackie and Bob. For many high-income earners, funding extra into a tax-deductible plan like a 401k will result in a better outcome over ten years than paying extra on the mortgage. If you are a high net worth individual, or a business owner who needs to focus on asset protection, then retaining debt may have some advantages in the event that you are sued. For high net worth folks, there is a great book called The Value of Debt, by Tom Anderson, that explains why higher net worth families may want to focus on retaining the right kind of debt rather than pay everything off. If you are a savvy business person, for example, someone who invests in franchises, or private lending, and routinely expect returns higher than 10%, then maybe you don’t want to pay off your mortgage early. If mortgage rates are super low, keeping the mortgage and investing elsewhere may make sense. When I originally wrote Control Your Retirement Destiny in 2012, mortgage rates were in the 2.5 – 3.5% range. I don’t recommend paying off the mortgage when the rate is that low. Once the mortgage rate goes north of 5%, then I think it makes sense to begin looking at ways to pay it down. Now, if you don’t fit in one of these four categories, and you’re listening to this thinking you ought to run out and cash in an IRA to pay off the mortgage – wait! That is not what I am talking about. There are big tax consequences to cashing in an IRA or retirement account. After factoring in taxes, it rarely makes sense to take a big chunk of money out of a retirement account to pay off a mortgage. On the other hand, what if you inherit money that is not an IRA? Or sell a business or other property and have cash? Then, it may make sense to use that cash to pay off the mortgage, or like Jackie and Bob, create a plan to pay extra each month. Next, let’s talk about home equity lines of credit, which we often abbreviate as “H-E-L-O-C” or HELOC. Unexpected expenses will come up in retirement. If you must take a large unplanned withdrawal out of an account, it may mess up your investment plan and your tax plan. For example, say you have matched up your investments so that bonds and CDs mature in each account to match the amount of your anticipated withdrawals. But now you need an extra $25,000 to help an adult child. Where should the money come from? If the growth portion of your portfolio has done well, you may be able to liquidate some of your long-term holdings to meet this extra cash need. But what if the market is down? In addition, what if you only have assets in tax-deferred accounts? An extra withdrawal may be taxed at a higher tax rate and cause you to pay more tax on your Social Security benefits, or may push you into an income bracket where you pay additional Medicare Part B and Part D premiums. A standing home equity line of credit provides liquidity that may come in handy. It can provide a ready source of cash that buys you time to figure out how to fit these unexpected expenses into your plan in a strategic way. Be careful though. A line of credit is not a piggy bank to draw from. I had one retiree who was consistently spending more than we had projected. We discussed the dangers of running out of money if the spending didn’t change. He agreed, and we reduced his portfolio withdrawals. Next time we met, he had accumulated a significant amount of debt on his home equity line. “What happened?” I asked. Instead of taking portfolio withdrawals to fund extra spending, he had tapped into his home equity line. This was like taking money out of the left pocket instead of the right pocket. We had some more tough discussions and eventually got him on track. Home equity lines are best used as a reserve strategy, not an extra source of spending money. When we manage portfolios for client’s we custody accounts at Charles Schwab and through Schwab’s lending relationships are able to get clients set up with lines of credit at competitive rates. There is no financial benefit to us for doing this. It is part of our job as a financial planner to assist our clients with all areas of their plan. We’ve recommended using HELOCs for auto purchases, to fund a down payment for a second property, and for many other unexpected situations that clients encounter. We don’t recommend them for routine discretionary expenses, like vacations. Next, let’s talk about real estate as an investment. For those looking for a steady source of retirement income, rental real estate may look like the right solution. I’ve seen too many people randomly decide the foundation of their retirement plan is going to be a portfolio of rental real estate. With no experience or training, they head out and buy a property. If they’re lucky, it works out. Many aren’t so lucky. Investing in real estate is a profession – if it is not your current profession, be careful about diving in. Whether it’s an apartment building, duplex, residential rental, or commercial property, owning real estate means you pay expenses. You must plan for: • Property taxes• Repairs and upkeep• Advertising and marketing (to get tenants)• And legal costs (particularly, if you have to evict someone and to negotiate leases and set up LLCs)• You also have insurance costs In addition, you wanna plan on accounting fees. Real estate makes your tax return more complicated. I’ve watched many people who liked to do their own taxes change their mind after their first investment property. If your career up until this point has not been related to real estate, please think twice before embarking on a real estate investment. I’ve watched people lose millions in real estate partnerships that they thought were a “sure thing”. I’ve watched people pour thousands into rental income properties that were supposed to generate cash flow and instead turned into giant money pits. In nearly every situation that turned out poorly, the person had no experience and did not go through a rigorous learning curriculum. I’m all for real estate as an investment for those who are going to treat it with the respect that any serious profession deserves. You may have heard that real estate takes deep pockets. There is truth to that saying. You must have enough cash set aside to get through a severe downturn. Those who do are the ones that typically end up having long term success. If you ARE interested in getting into real estate, where do you start your education? You can find seminars all over the place. Some are decent, and some are just going to cost you thousands of dollars for a lot of pretty binders. If I were starting out in real estate, I’d skip the seminars and instead get my hands on all of John T. Reed’s books on real estate investing. Start with How to Get Started in Real Estate Investing. His material is not full of fluff; it provides you with the nuts and bolts of what it really takes to be successful. You can buy his books through his website at johntreed.com. He has over 20 books on real estate investing as well as a web page where he ranks other so-called real estate “gurus”. The last topic to cover today is reverse mortgages. Now wait! Don’t turn off the podcast here. It is amazing how easily people will take out a mortgage, and then as soon as you add the word “reverse” to it, they immediately dismiss the idea. Plain and simple, a reverse mortgage is a mortgage. You borrow money to be able to live in your home. That is how a mortgage works. Do you give up the equity in your home with a reverse mortgage? No. If the value of your home is worth more than the mortgage, you keep that equity when you sell your home, or your heirs inherit it when you pass. What if the reverse mortgage puts your home “underwater” one day, where the home value is less than the mortgage? Can they kick you out and take your other assets? No. Reverse mortgages are non-recourse loans—The bank cannot attach your other assets or those of your heirs. With a reverse mortgage, you own the home, not the bank. Your responsibilities are to pay the taxes and maintain the property. These are the same responsibilities you have with any mortgage. Here are a few key things that make a reverse mortgage attractive in the right situation:You can use a reverse mortgage to pay off an existing mortgage. You can also use it to buy a home – the reverse mortgage becomes a substitute for your down payment. Reverse mortgage income is tax-free.And no minimum credit score is required, and a reverse mortgage does not affect your credit score. With a reverse mortgage, a lender can foreclose on you if you do not pay your property taxes, insurance, and repairs. I frequently see this mentioned as a caution against reverse mortgages. However, if you have a paid off home and don’t pay your property taxes, you can lose your home, so I don’t see this issue as unique to a reverse mortgage. With a reverse mortgage, the lender also has the right to demand repayment if you don’t live in your home for 12 straight months or more. This means if you move in with relatives, or into a care facility, you need to make plans to sell the home if you don’t think you’ll be returning. Why would a planner recommend a reverse mortgage? We think they can be useful to provide cash flow for scenarios, for example, where you would delay Social Security. They can also help manage taxes as the cashflow is tax-free. They can also be used help manage sequence risk, meaning you can set up a reverse mortgage line of credit and tap that instead of selling investments when the stock market is down. When is a reverse mortgage a bad idea? Well, don’t take one out if you plan on moving soon. And, if you are Medicaid eligible – be cautious – you’ll need to see how the income might impact your eligibility. If you tend to overspend, a reverse mortgage might be a bad idea too. You could blow through the money, not pay your taxes, and end up losing the home. And, I don’t recommend reverse mortgages when you have no long-term care insurance. With no insurance, you’ll want to preserve the home equity so it can potentially be used for care needs later in life. We’ve now talked about your home as an asset. We’ve talked about your mortgage, and whether you should pay it off before retirement, and the four scenarios when you should not. We’ve discussed home equity lines of credit, or HELOCs, and how they can be used to cover unplanned expenses in retirement. And we’ve discussed investment property and the fact that investing in real estate IS a profession. The last thing we discussed was reverse mortgages and the fact that they are NOT a bad word. They are simply a financial tool, that in the right situation, can be really valuable. ————— For more information, see Chapter 9 in Control Your Retirement Destiny, I have mortgage calculators, links to reverse mortgage calculators, and a lot of other illustrations that will help with decisions about real estate. Thank you for taking the time to listen today. Visit amazon.com to get a copy of the book in either electronic or hard copy format. You can also visit sensiblemoney.com and see how a staff of experienced retirement planners can help.  

https://jamesclear.com/milo Strength Training Basics How to Build Muscle: Strength Lessons from Milo of Croton by James Clear    |     Habits, Strength Training Nearly 2,500 years ago, there was a man of incredible strength and athleticism roaming the hills of southern Italy. His name was Milo of Croton and he was almost certainly the most successful wrestler of his day. Milo was a six-time wrestling champion at the Ancient Olympic Games in Greece. In 540 BC, he won the boys wrestling category and then proceeded to win the men's competition at the next five Olympic Games in a row. He also dominated the Pythian Games (7-time winner), Isthmian Games (10-time winner), and Nemean Games (9-time winner). In the rare event that an athlete won not only the Olympic title, but also all three other games in one cycle, they were awarded the title of Periodonikes, a grand slam winner. Milo won this grand slam five times. Now for the important question: What can Milo's incredible strength teach you about how to build muscle and improve your health and fitness? The answer is covered in a story about how Milo developed his strength… How to Build Muscle Like Milo of Croton It is said that Milo built his incredible strength through a simple, but profound strategy. One day, a newborn calf was born near Milo's home. The wrestler decided to lift the small animal up and carry it on his shoulders. The next day, he returned and did the same. Milo continued this strategy for the next four years, hoisting the calf onto his shoulders each day as it grew, until he was no longer lifting a calf, but a four-year-old bull. The core principles of strength training and how to build muscle are encapsulated in this legendary tale of Milo and the bull. Strength Training: The Core Principles “When you first start to study a field, it seems like you have to memorize a zillion things. You don’t. What you need is to identify the core principles – generally three to twelve of them – that govern the field. The million things you thought you had to memorize are simply various combinations of the core principles.” —John T. Reed The health and fitness industry is filled with unnecessary complexity and thousands of experts sharing conflicting ideas. If there is anything I've learned during 10 years of strength training, it's that mastering the fundamentals is more valuable than worrying about the details. As an example, let's discuss three of the core principles of strength training that are hidden in the story of Milo of Croton and the bull. Here they are… 1. Start too light: Focus on volume before intensity. 2. Don't miss workouts. 3. Increase in very small ways. --- Send in a voice message: https://anchor.fm/foreveryoung/message Support this podcast: https://anchor.fm/foreveryoung/support

John Reed was born and raised in Southern New Jersey. He was a West Point ’68 paratrooper ranger, radio officer, Vietnam, real estate agent, property manager, Harvard MBA ’77 married in 1975 wife Harvard MBA ’78 started buying residential rental property in 1969 and continued for 23 years. Wrote for Real Estate Investing Letter from 1976 through 1985. Started own Real Estate Investor’s Monthly newsletter in February 1986 to date. Author-publisher-distributor of 34 how-to books on real estate investment, football coaching, baseball coaching, succeeding, self-publishing, and how to protect your life savings from hyperinflation and depression. *** For Show Notes, Key Points, Contact Info, & Resources Mentioned on this episode with John Reed, visit here. ***    

John T. Reed shares his unique, contrarian—and sometimes controversial—youth baseball strategies. Plus, Justin Stone of elitebaseball.tv answers another question from our "Ask Justin" page about the ideal number and length of practices. Don't forget to give us an honest review & rating on iTunes!

Today on the show, I answer these two questions: Joshua, The reason why I am writing has nothing to do with finances, but career advice.  Did you (or do you) provide career counseling?  If not, can you at least recommend someone you trust?  I thought I heard you mention on a previous show that you were involved in that line of work, unless I am mistaken and it was a guest.  Brief intro: I am 32 years old, a recent MBA graduate, and have a really unique professional background that makes career transitions exceptionally difficult.  Suppose I were a client of yours who is considering a career change at a radical 50% pay cut.  There are huge financial and emotional considerations at stake.  Would such a career change be consistent with my financial goals?   I have been working in a specific industry since I started fresh out of college.  I have recently undergone an ideological conversion to a different system of thinking, and now face some cognitive dissonance over what I do for a living and who I do it for.  I want out.   In fact, this is the reason I went back to school for my MBA a couple years ago.  I thought the MBA might help me push the reset button on my career, but the job market hasn’t been kind to me.  I have applied to all kinds of jobs that I’ve thought were similar enough to the work I currently do.  Unfortunately, I find myself caught between a rock and a hard place: I am too old to be considered for lower-tiered, entry-level positions.  I am also too inexperienced to be considered for more senior or mid-level positions.  I am seen as a liability: recruiters think I won’t last very long if they bring me in at a lower level.  Recruiters think I won’t last very long if I am brought into a new environment or industry.  I am stuck, and I am hoping to speak to someone who can help me do two things:  1) better understand what marketable skills I have in the private sector, and 2) better understand what jobs exist that are the best match for my skills. And it gets a little crazier: due to Non-Disclosure Agreements I have signed I cannot fully disclose the exact nature of my skills! This is perhaps the real pickle.. which makes this ordeal much harder than it would normally be for other career changers. What are your thoughts? -Bill AND at 51:24 Hey Joshua, Thanks so much for the show. It has really helped me and my fiance get our finances in order and start us thinking about how we could become financially independent. Even as a Canadian I've gotten a ton out of the show and have tried to hook as many people as I can. I was wondering if you might be able to touch on tips and tricks for someone who doesn't earn a consistent or regular income. I do video work and while it's consistent right now, I have spent most of my working career either working every day in a month or not working at all for weeks at a time. I was just curious if there might be any wisdom you can impart on those kinds of situations. Luckily my fiance has a very stable job and makes good money so it gives us the ability to plan at least a bit. Thanks again for the show, I look forward to it whenever I walk the dog and on the way to work. -Brendon Enjoy the show! Joshua Links: SUPPORT THE SHOW ON PATREON http://radicalpersonalfinance.com/patron 48 Days to the Work You Love by Dan Miller. Also, see his website for more products: http://48days.com/ Succeeding by John T. Reed Get a Job, Build a Real Career, Defy a Bewildering Economy by Charles Hugh Smith Choose Yourself by James Altucher