Podcasts about killing sacred cows

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.

Keith breaks down where the U.S. housing market appears to be headed and which regions and states are quietly winning or losing in the population shuffle since 2020—and what that could mean for real estate investors.  You'll also hear about an intriguing cash-flow play in single-family rentals in select Southern markets. Then, Keith is joined by financial strategist and comedian Garrett Gunderson, who challenges the usual "scrimp and save" advice. Together, they explore how to build real wealth without sacrificing your life today, how high-net-worth individuals often get money wrong, and a different way to think about financial independence, freedom, and investing in yourself. Resources: Get Garrett Gunderson's Killing Sacred Cows audiobook free: DM @GarrettBGunderson on Instagram with the words "Keith Cows." Episode Page: GetRichEducation.com/595 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Keith, welcome to GRE. I'm your host. Keith Weinhold, is the future direction of the housing market trending up or trending down? Which states have seen the most population growth? Then powerful wealth mindset tactics with a financial comedian today on get rich education   Speaker 1  0:20   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads and 188 world nations. He has a list show guests and keep top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Keith Weinhold  1:04   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally. While it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Speaker 2  1:38   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:54   Welcome to GRE from Mount Rainier to Mount Rushmore and across 188 nations worldwide. I'm Keith Weinhold, and this is get rich education. I am not a Lambo driving influencer that will take any brand deal just to shill a gambling platform instead. Our core strategy at GRE is aging. Well, I've spoken with a lot of LP investors with capital calls and deals that lost all their money. Well, we approach wealth building with discipline and consistency. It doesn't sound dazzling, but it really shines when things go wrong elsewhere, because at least for the core of our portfolios, we get long term fixed rate debt for income property get paid five ways and win the inflation triple crown, and we do it all with a high degree of passivity. Right before I took the mic today, I got a two sentence email from a property manager that said an air conditioning unit's air handler board had to be replaced for $420 I don't even know what an air handler board really is. Now, the manager sent some photos in a written estimate. I quickly checked chat GPT, and I saw that the price was about right, and replied to my manager to go ahead and have that done. That's it an example of relative passivity. US residential real estate has nominally appreciated over every single 10 year period in modern history, despite some occasional short term downturns, even those are not common. Well, we recently had a guest mention that it's 20 years at the longest like 20 years or less is the period of time between which real estate never goes down. He was right. But you actually can't find any 10 year period where home values fell. What about the 2008 global financial crisis, I think that's the first place that the mind goes. Well back then, home values bottomed out at 208k in 2009 before they started growing again. And 10 years before that, the median price it was 157k in 1999 so even when home values hit their GFC low at that point, they were still up 32% from the previous 10 years. So you can confidently say then that over any 10 year period, home prices are up nationally. Now, how about the future? Well, for the future, there is more evidence of rising home prices. Building permits for new homes have fallen to their lowest level since 2019 that's according to the census bureau. So fewer single family homes are being built. Now we plan to discuss that more on. Next week show when we dive deep on does America really have a housing shortage? But this week, more reasons for future home price bullishness is that the labor market now, it's not doing that great. It sure isn't white hot, but unemployment, which was already low, that recently dropped a touch lower to just 4.3% inflation has fallen to 2.4% and wages are rising faster than that. In fact, our own Fed Chair recently remarked at how he's surprised at the strength of the economy. The property market analytics firm kotality, they now expect home prices to appreciate another four and a half percent this year. They and other firms continue to believe that the Midwest will be the hottest area of home price growth even more than that four and a half percent in that region. That is because not only is the Midwest underbuilt, it's that the prices are so affordable that it's attracting young people. The other factor is that mortgage rates recently dipped just below six into the high fives again, and that can release this pent up housing demand, and think about where we've come from. In late 2023 mortgage rates were about 8% and now lower mortgage rates also reduce the lock in effect, so it can create both more sellers and more buyers. The thing to remember is that 70% to 80% of home sellers are also home buyers because they've got to live somewhere. And first time homebuyers, of course, they buy only, they don't sell anything. In fact, former GRE guest in housing wire lead analyst Logan modeshami and Barry Habib were just positing on this at housing wire's latest summit on how the volume of home sales has been depressed for so long that lower rates could very well trigger a rush of buyers, these kind of people that have been delaying purchasing for years, this pent up housing demand being released if indeed rates go lower. People think they know the future, but we don't really know that that's going to happen for sure. But a lot of optimism about this phase of the housing market supported by not great, but decent economic conditions. Of course, that new housing demand is going to manifest unevenly across the nation. So let's talk about the places that have seen the most population growth from 2020 to today, basically the states that support that housing demand. Well, between 2020 and today, the US has grown by about 10 million people. That's over 3% nearly every state grew. But the bigger story is where that growth is happening. And really, here's the jaw dropper as a region, the South, gained more people than all of the other regions combined, about 7.6 million new residents in the south since 2020 the South's population is up 6% the West's almost 2% the Midwest population is up more than 1% and The Northeast up seven tenths of 1% again, this is not per year. This is total population growth from 2020 to today, Florida and Texas, they led the nation among the big states, both up almost 9% sprinting like they just found out that income tax is optional. The Carolinas in Tennessee are big southern growers too. People clearly keep moving toward warmer weather, a lower cost of living, lower taxes and job markets. Nothing new there. California in New York are the biggest losers in absolute numbers, California losing half of 1% of population in New York, a full 1% people keep moving away from these traditionally expensive, high tax coastal states like a buffet when the crab legs run out, people just getting up and leaving. That's not any sort of news story there, either. These trends help cash flow residential real estate investors like us, because the south aligns with that favorable landlord tenant law and those high ratios of rent income to purchase price. Luckily for us, that's where people are moving too. The Midwest has those phenomena as well, although their growth has been slower.    Keith Weinhold  9:39   Now a few Midwest highlights for you. Since 2020 the population of Indiana is up 2.8% quietly benefiting from Illinois. Escape Velocity, Missouri up almost 2% and that's growing mostly in Kansas City and St Louis suburbs. Ohio at almost 1% that's pretty modest growth overall, but Columbus up 5% that is flexing like it just landed a semiconductor plant there in Columbus, the intermountain west has bicep bulging growth, but it rarely works for us, because rents are only a little higher, but property prices are way higher. Yes, those pretty Rocky Mountain states, great Instagram, tough cash flow now Louisiana, it is a state that confounds people. It's a warm place, and it has a low cost of living, you would think Louisiana would be attracting people in droves for those reasons. Well, then why is its population following Louisiana down nine tenths of 1% since 2020 Well, you've got bleak job prospects that make Louisianans leave its tax competitiveness ranks 31st property insurance costs are high thanks to environmental risk. Louisiana has more swamps than beaches. Even the NFL saints were six and 11, and if they had made the playoffs, that wouldn't have made people move back. And hey, no personal shade here, I enjoy going to the New Orleans investment conference in Cajun culture, in Airboat Tours through the alligator filled Bayou, fun stuff, but for income producing property, you got to seek out different characteristics than just vacation Glee or how Good the gumbo tastes keep emotion separate from investing, Hawaii is America's biggest percentage loser. Its population is down one and a half percent since 2020 its cost of living is stratospherically high, with a median home value of just a little over a million dollars. That results in net outmigration to the mainland parts of the Aloha state now experience natural decrease. That means that deaths exceed births. Natural decrease. That's mostly a phenomenon on the Big Island. That's not where Honolulu is. That's where you have Kona and Hilo when young people can't afford to stay demographic gravity kicks in population loss. Hawaii is also highly dependent on tourism, meaning more volatility in recessions. It has contractor availability issues and higher repair costs, partly due to shipping materials to the remote islands. What about the upsides of Hawaiian real estate? Well, you're just going to have this inherent, strong, long term land scarcity and lifestyle desirability overall. Hawaii isn't bad. It's just hard. And I like Hawaii as a place to vacation, so the best times in my life were in Hawaii. Now, with all this said, These are broad generalities about states which are big places themselves right now. There are certainly Missouri real estate investors listening to me that are actually losing, and Hawaii real estate investors that are winning, and even cash flow positive. I'm talking general trends here, and this is with respect to long term rentals, not short term rentals. If your rent to price ratio is as low as point three or point four, like it often is near the coasts, well then you are speculating on appreciation. That's what that means. All 50 states have opportunity. All 50 states have no go zones. People keep moving south. That's a trend that the pandemic accelerated six years ago. More opportunity is concentrated there. That's got nothing to do with vacation excitement. That is population math, and I'm talking about swimming with the tide here in our Don't quit your Daydream newsletter I recently sent you that colorful population change map that I was describing some of there. More recently, I also emailed you that great and rare map of landlord friendly versus tenant friendly states mapped out and a lot of other great stuff.    Keith Weinhold  14:17   Before we bring in our firebrand guest, Garrett Gunderson, I just learned about a really strong opportunity for a provider of single family rentals and duplexes in Memphis and Little Rock. They're providing a locked in 5% interest rate and 5% property management for five years. Yeah, that's not a throwback to 2020 it's what mid south homebuyers calls their triple five program. They are the oldest and most trusted, maybe turnkey investment provider in the country, operating since 2002 and what they do is they offer these fully renovated, occupied rental properties in Memphis and Little Rock, two of the strongest cash flow markets in the South. With financing and management and rates that make the math work like it hasn't in years. So again, 5% interest, 5% property management fees for a full five years. You know those markets, they already had these investor advantage numbers with rent to price ratios mere point eight in Memphis and Little Rock. But yeah, that low 5% mortgage rate, even for renovated properties, not just new build. That's the kind of spread that turns a good deal into a great one. So to give you an idea, if you get a 30 year fixed rate mortgage loan amount of 125k with a 7% mortgage rate, your principal and interest payment is 832, at a 5% rate, it's just 671, so that's $160 more cash flow right there, and it's made a tad sweetener than that with just a 5% Property Management rate. And I don't know how long that offer is going to last, but it is available now and for the next little while, you can ask about it. When you visit mid southhomebuyers.com that's mid southhomebuyers.com and you can ask them about their triple five program. More next. I'm Keith Weinhold. You're listening to Episode 595, of get rich education.    Keith Weinhold  16:19   Flock homes helps you retire from real estate and landlording, whether it's one problem property or your whole portfolio, through a 721 exchange, deferring your capital gains tax and depreciation recapture, it's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721, the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE, that's F, l, O, C, K, homes.com/gre. You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom family investments.com/gre, or send a text. Now it's 1-937-795-8989 Yep. Text their freedom coach directly. Again, 1-937-795-8989,   Dani-Lynn Robison  18:08   this is freedom family investments. Co founder, Danny Lynn Robinson, listen to get rich education with Keith Weinhold, and don't quit your Daydream. You Brenda.   Keith Weinhold  18:24   Today's guest is someone that America knows as the long haired, bearded money guy in the past, he's drawn physical appearance comparisons to Jesus Christ. He's a prominent financial strategist. Founded an eight figure company, hit the Inc 500 he's both a New York Times and Wall Street Journal bestselling author. He is just an electric speaker, including appearances in front of dozens of billionaires. And he's just got this great way of speaking to financial freedom that hits you differently. He even has a comedy special that's great to welcome back to the show. Garrett Gunderson,   Garrett Gunderson  19:02   that's good to be back. Man. Is really good. Love your energy. Has a nice intro.   Keith Weinhold  19:07   Well, you give a lot of like, nice guidance to people that's somewhat different than they're used to hearing. You know, Garrett, I think a lot of the conventional guidance is, you know, it's not very far above Elementary School advice like, put your credit card in the freezer so you don't use it too often, but a lot of times you speak to either business owners or people that have already had some success, and I think a lot of your underlying mantra is, hey, you better live your best life now   Garrett Gunderson  19:35   I kind of feel like you are your greatest asset, and if you starve out that asset because you don't feed it with knowledge, or you don't invest in yourself, or you don't gain the skills that really matter because you're so addicted to scrimping and sacrificing and building your balance sheet right, trying to build savings accounts and retirement plans and doing all you can to pay off that mortgage. Yeah, you could become a millionaire on paper. But will you live like one? Will you enjoy your. Life. What about all the memories that you miss along the way? What about having quality of life today and creating a life you don't want to retire from? The wealthy people, they didn't get that way because they shrunk their way there. They didn't get that way because they were amazing budgeters. They built businesses. They created value. They learned how to, you know, sell or speak or market or have business acumen that grow business or to hire people, and having those systems that actually impact more people or more deeply impact the people that they serve, because it's about value creation and their value creators. And I think this notion of just thinking, Oh, I could just trade time for money and set money aside. Man, that's a really painful way to get to a million dollars, but Northwestern Mutual, they just put out an article that said, 32 or 34% of millionaires don't feel wealthy, because if you have money tied up in an account that isn't kicking off cash flow, it doesn't feel like wealth. You can't spend that net worth. It's just a statement if you don't learn how to create cash flow. And I love financial independence, where people have cash flow from assets to cover their expenses now their lifestyle is covered from that cash flow. Now they can reinvest every active dollar into themselves and their quality of life, into more cash flowing assets, into taking trips along the way, not just waiting until they're too old to enjoy it.   Keith Weinhold  21:13   You work with business owners all the time, and you've even worked with some ultra high net worth people that still seemed to scrimp and save. Do you think really, what is that the function of? Is it more of the wrong mindset or the wrong tactics when someone acts that way?   Garrett Gunderson  21:32   It's a mindset that's really kind of handed down to them? Yeah, maybe from their parents or grandparents or from a different era, like there's people that were, you know, in the Great Depression, that then tells stories to their family about how tough it was, and you never know when that money could go away. So you got to hold tight, and it's a scarcity mindset. So one of the wealthiest clients I ever had, I mean, this was a guy who he was worth a lot of money, but you would never know it. I saw him on TV one day. I was like, Dude, he needs new clothes, and we found a strategy to save him a bunch of money. He was just buying his inventory with cash or like, let's buy it on a plum card, and you'll get cash back. I just said, Just take 10% of that cash back, which was over $100,000 a month, and spend it on yourself. He's like, Well, I wouldn't know to spend it on I'm like, Well, how about some new clothes to start with? He's like, Okay. And then the next month, he bought a nest system for his house. The next month he bought a sound system. Eventually, saved up enough money to buy a Tesla, which he really wanted, like it was money that was there for him, but it changed his entire paradigm, because now he had a quality of life. He was very philanthropic and donated money. He built massive businesses, but he never treated himself well. He'd never felt like it was okay to spend that money because of his upbringing, because the way that his parents viewed money and the way that their parents viewed money, and it was always something that felt scarce. So it felt like, okay, will this go away? And the reality was, we just found money in your couch cushions, essentially. So why not enjoy it along the way? He eventually bought a home that he loved on the water, that he loves the garden. I mean, it was like a total transformation with that one simple thing to help him heal his relationship with money, overcome scarcity, because he was already highly productive. He just had to break free from this budgetary mindset.   Keith Weinhold  23:09   That's great. It was almost like, Dude, I can see it in you. Before we even talk. You got that code off the rack at Burlington. I swear you can do better than this. Come on, now   Garrett Gunderson  23:17    30 years ago, 30 years ago too. You know, it doesn't even fit anymore.   Keith Weinhold  23:23   Well, you know, I recently dedicated a complete episode Garrett to the way I put it is that the risk of delayed gratification is denied gratification. Now, there are some good things to be said for delayed gratification, I think, especially when you're younger, or you're just starting out in the working world, and you just tried to cover rent for your apartment and you don't have much else. Delaying some gratification is good. You need to form capital. You need to get liquid. I try to avoid saying stacking savings, because that gets people in the mindset of becoming super savers sometimes, and they miss out on returns. But what I mean about the risk of delayed gratification, being denied gratification, if it's taken too great of an extent, is, you know, I'm talking about the guy where, when he was 24 he used to say, Oh, I'm going to visit the Galapagos Islands someday. That's what I want to do. But you can just tell by the time you talk to the dude, when he's 48 he begins to use the past tense for things he wanted to do, for example, then he might start saying, Oh, well, I guess I never did visit the Galapagos Islands. You know, you can tell with people when they use the past tense, and that's when you know that their future is not bigger than their past, and a lot of that is the reflection of their financial status.   Garrett Gunderson  24:40   I got married at age 23 and the first two years, well, it was really like the first year and a half, maybe I was just such a miser. I gave my wife a $400 a month budget for an apartment, and we found out that there's places you don't want to live in Utah. I didn't know it, but she's like, is this what you want? And I was like, This doesn't feel like a safe neighborhood. And then you. Know, I was like, All right, maybe $600 I was still kind of really scarce. And my parents were like, Why don't you just live in our basement, rent free, and my wife's like, sex free. If you think that's where we're living, I'm gonna live in my parents basement, you know? Because I just thought money was something to save. So I saved me over 50% of my income. And a lot of people were like, that's amazing. Congratulations. Great job. And so I felt really good about it, and then I realized that my business wasn't growing as fast as this other person my age. I met him at an event, and a year later, he was doing better. And I was like, Dude, what's going on? I could hear it in your voice. I could hear like, you're just a different person. He goes, Oh, I'm doing two things. One, I just hired this guy, Steve D'Annunzio, and he changed my entire life. And I was like, I need to meet him. He's like, he happens to be here in Vegas. He's from Rochester. Introduced me. I hired him as my coach right away. I'm hearing all these people talk about strategic coach at the same event, and they had a booth. So I signed up for Strategic Coach, which meant I had to part with some of my money. Think it was $7,500 I hired Steve as a one on one mentor, and all of a sudden I was investing in myself, yeah. And I broke free from those chains of like, reduction and restriction into the game of production. And then I even had a situation where a woman called me out at the same event. This was a life changing event where she's like, I wonder what it's like living in a financial prison you built for your wife. It's like, Oh, see, that's what happened. I thought I was responsible, and building that responsibility that's actually building walls. And when I came home for that event, my wife and I started looking for our home. Within a few months, we found one. I bought a home. It was very easily within my means. I basically made as much as I paid for this house that we loved. We lived there for nine years. We built so many memories. You know, we had our two kids while we were there, I started host study groups, and that year, I grew my income by $170,000 with the coaching of strategic coach, Steve dnunzio And this woman, Nancy, calling me out. The next year, it grew by even more because the skills started to compound. I decided from that moment forward, I would spend at least $40,000 a year, which I might be able to reach for some people, but at least $40,000 a year on mentors. Is a guy named Alan. He writes my meal plans and my workouts, and I'm at 10% body fat because he knows exactly what they do. I do what he says. It was worth this $10,000 investment, because now I pay attention what I pay for, and I look at like if I'm my greatest asset, how can I create more energy? How can I create more value? How can I feel better about myself? How can I show up the very best version of I am, so I can deliver the most to the other people. And so I've always just been in amazing groups. I just got back from two different events in Beverly Hills around amazing people, learning incredible things that allow me to grow. I haven't spent a huge amount of money on a mentor last year to figure out something that I hadn't been able to figure out to this point. It's the same thing I did to become a speaker, to become a writer or even learn how to sell or market, you've got to invest in the skill, not just in the savings account. You grow yourself first, and then you grow your money. If you starve yourself out because you're in that miserly mindset, you're going to stunt your growth and never be fully fulfilled.   Keith Weinhold  27:56   You're your own best investment. And yes, this stuff is the varying definition of investing in yourself. Don't live below your means. Grow your means and all of that.   Garrett Gunderson  28:05   Grow your means and be more efficient within your means. I mean, the best way I know how to save is not overpay on tax, which 98% of business owners are doing that today. You know, don't overpay on interest, because you either restructure your loans, renegotiate your interest rates, reallocate underpouring funds to pay it off, or you remove investment drag. A lot of people have unnecessary fees and hidden commissions that drag on their investments. Or just design your insurance properly so it's more efficient. Those four i's, IRS, interest, investments and insurance show you how to keep more of what you make, take some of that money, build up your foundation so you have a peace of mind fund, so you have staying power, at least six months of liquidity and then invest more into yourself or learn how to create cash flow. This is the game the wealthy play. But the poor middle class, they think it's about paying off a mortgage and funding the retirement plan, and they will argue about it until it's too late, when they get there and now their homes paid off, but the property taxes are higher than their mortgage was 20 years ago, you know. Or they have home maintenance they have to take care of, or inflation has destroyed the value. Like if someone were to put away 100 grand and they wait for 30 years if they got 10% which the market did the last 30 years, if you reinvest dividends, they're going to have right around $1.7 million but if they have to pay 2% in fees, fiduciary fees, 12 b1 fees, which are marketing fees for the fund expense ratio, you know, the fees of maybe a retirement plan, and they now have 2% fees. It only goes to 1.1 million. Huge difference. And that 1.1 million if we account for inflation, even if we said inflation was low, like 2.7% over that 30 years. Well, by the time we pay for inflation and tax, guess what? The purchasing power value is like, 300 grand $300,000 that's a problem, and it's because they didn't learn to create cash flow. It's because they didn't learn to invest in themselves. It's because they relied completely on a market they don't control. I'm not saying the market is completely something to avoid. I'm saying we go in sequence. How do you grow your income for. First, then how do you keep more of the income you make with? You know, financial savvy and plugging leaks. Then learn to grow your money, but maybe growing your money. For some I like to think of like three dimensional assets, like real estate's three dimensional. It can grow in equity, it can create cash flow, and it has tax advantages. But my business is three dimensional, the more my business creates cash flow, without me, the more equity it has, and that business has major tax advantages. So most people are one dimensional, pay off a loan, put a money in retirement account. That's the poor, middle class. Wealthy people build a system where they've got three dimensional assets, equity, cash flow and tax savings. And that is a complete game changer, because then they can employ the buy borrowed I strategy, if you have assets like, you know, an individual stock, or if you have assets, like a piece of real estate or a business, you could borrow against it. There's no tax on that five for life, right? You keep refinancing. Or you can even do charitable trust to avoid the taxes upon the sell of those paying no tax when there's gains. Or you can pass it on to the next generation with a step up in basis, which means they get it at the full value and not have to pay the difference. And if you have life insurance, the life insurance will pay back the loan that tax free as well. So buy, borrow, die. I mean, it's a completely different thought process of defer taxes. If you defer taxes, I get it. You could do a Roth IRA or Roth 401. K Sure, that'll let you put after tax money in and grow it. But where's the cash flow? What's the underlying investment? How does it help you create financial independence? How does it help you does it help you grow your skills to become a better investor? We've been taught to be lazy, not that people are lazy. We've just been taught to be lazy with our money. We've been fed a narrative. I don't have the time, I don't have the skill, I don't have the interest, but I want to have it, so I just hand it over. And who do we hand it over to Keith Wall Street. Wall would you trust Wall Street? Like you flew to Frankfurt not long ago. Would you get on Wall Street airlines where they're like, hey, sometimes our planes go up, sometimes they go down. That would brand, and he'd feel inspired, right? Would you go to Wall Street, you know, hospital? Or like, hey, he lost one of your kidneys, and by loss, we stole it and resold it. You know, like, Wall Street doesn't have a brand. That's good. It's boiler room. It's Wolf of Wall Street. It's the movie Wall Street with Michael Douglas. You know, greed is good like yet that's what people put their money into. And you can go to any downtown and any major city, and guess who has the biggest buildings, insurance companies, banks and Wall Street investment companies. So you're taking the size of your home and shrinking it to build up their building and put money in their pocket. And their story is, it's because they're Ivy League, they're smart. They try to make it complicated, but you don't have to know most of the things you think you need to know about finance. The foundational things are important, how to protect your assets, how to design insurance, to transfer risk, how to have some liquidity, how to automate your savings. And then you focus like Warren Buffett would teach. He said, You know how people would become a better investor if they only had 20 investments they could make over their lifetime? He says, I don't diversify because I'm in the know. He's like, I'm a good businessman, therefore I'm a good investor and I'm a good investor because I'm a good businessman. I don't separate the two. Yeah, most people think he's a stock market investor. No, he buys out the companies in the stock market. Rarely does he have minority stakes in it. He does have some of that, maybe with Coca Cola and apple, but he bought a lot of companies outright, whether it was Geico, whether it was See's Candies, whether it was like he buys these companies, he's so far outperformed the stock market by billions of dollars from an index fund like what he has, versus someone that put the same money in an index fund, Warren has billions more from his investments than the person that put all their money in the index fund, even if it was the same amount. It's completely about strategy, not about luck.   Keith Weinhold  33:30   Yeah, it's the Andrew Carnegie, put all your eggs in one basket and then watch your basket. Yeah? Watch that basket like a hawk. Totally. Yeah. I mean, stacks mutual funds, they have what I call those five simultaneous drags. If you think you're getting a 10% long term return over time, subtract out inflation, emotion, taxes, fees and volatility. What do you have left? Not much. But there's no friction there. It is just the easiest thing to do ever since decades ago, 401 K contributions begin to become automated throughout your paycheck, sometimes even automatically, automated   Garrett Gunderson  34:04   values your permission opt out. It's easy. You have to opt out, right? It's Big Brother. You don't know what's best for you. And by the way, how crazy are four one K's. Part of the reason the market has gone up in value is because people consistently fund for one case, whether the market's going up or down, they're told $8 cost average. So that's artificially fueling the market. When we see the numbers, there's a buffet index, and it's like 2.9 times higher than what he's comfortable with, with the stock market, because of how overinflated the market is, partially due to inflation, partially because people put money in. But let's remember, why did 401, K's even come about? Because pensions failed. And by the way, these pensions failed and they had world class money managers managing these multi billion dollar pensions, but they didn't know about something called disinvesting, or didn't know enough about it. When the market goes down and pension money is owed, they still have to pull money out of the pension to pay the employee which disinvests, which pulls more money out of the account. So now instead of just being 10% down, they might be 17% down. And so even if the market comes back 10% it's 10% of only 83% of the money. So not even back to square one. And if it goes down a second year in a row, they're in real trouble. It starts to chip away at the principal, and they can't recover. And that happened to pensions, and they said, Oh, here, we can't handle these. We're going bankrupt. We're going to get rid of pensions. You take care of it. Well, guess what? Vanguard says, the average balance in a 401, k right now is $148,000 how someone's supposed to live on $148,000 even if you could get 10% that's $14,800 a year taxable, that's not going to do it. Even if you have a million dollars, where are you going to put the million dollars to get the return without risking it going down? Maybe you're going to be in treasuries at 5% that's $50,000 taxable per year. You're a millionaire on paper, but living poorly. That's why I'm here to call these things out. I think that my book Killing Sacred Cows, which was my original New York Times bestseller, which is probably how we met. Yeah, I rewrote it. I rewrote it, rereleased it in 2024 and I'll give people the audiobook. They just have to DM me on Instagram. Garrett B Gunderson and DM the word cows with Keith's name, cows and Keith or Keith and cows. I'll hook you up with the book for free, so you can learn about the nine financial myths. We're talking about some of them here, but there's also some comedy in there, so they can laugh after each chapter. I threw some comedy in there. You know, if you like my comedy, I'm not the funniest comedian. I'm just the funniest money comedian. That's the reality.   Keith Weinhold  36:33   When we had the very inventor of the 401 k plan, Ted benna, come onto the show, he revealed to us that when 401 K plans rolled out, they were first called salary reduction plans. They had to scrap that name in order to foster participation. But reducing your salary is still principally what it does to you. You got to think about it that way and blow up some of these myths. But Garrett, you've already given a lot of great technical information about what someone can do, how someone can think differently. Bigger pictures, we're sort of winding down here. You know, when I'm thinking about this whole delayed versus denied gratification thing, how do you meter it out right throughout your life? I mean, what's your earmark your family legacy? How do you meter it out, right so you don't have too much or too little at the end of your life?   Garrett Gunderson  37:15   I like to see this strategy of, like, what would the rockfellers do that I wrote about is, you know, the beginning before that strategy is you pay yourself first, which has always been around Richest Man in Babylon. Tons of books talk about it. My argument is you want to pay yourself at least 15% of your personal income, off the top, to a separate account. Once you get six months in that account, now you start to invest that money, but you build your stability with that peace of mind. And we want 15% because the luxury once enjoyed becomes a necessity. So you want more money in the future, not the future, not less propensity to you know, there's also, just like planned obsolescence, things break down. You have to repair them. Technological change, we're buying new technology that doesn't even exist. I have now subscriptions to a bunch of AI things that help me out, right? But I'm spending more money. There's also taxes, those could go up in the future, or 38 trillion in debt as we film this, which is a crazy number. And there's also inflation. If we give 3% to each of those five factors, that's 15% now again, use the four i's, IRS, interest, investments and insurance to find that money, not just budgeting. But then here's the magic. At least 3% of your income should go to a separate account called the Living wealthy account. That's your guilt free spending, value based spending account, so you enjoy some money along the way. These are the things that are the finer things in life that people might say are wasteful. You know, there's a book called unreasonable hospitality that talks about this, 11 Madison Avenue was the number one rated restaurant in the world. And, you know, will who wrote the book talked about they had 3% of their budget to just go wild on their customers dream making money, right? So to create the special experience in the restaurant, and even the bear, I think was season three, showed some of that process of how they do that. So I highly recommend taking a certain percentage. You get to enjoy along the way. It could be higher than 3% but start there, and you're going to feel better, you're going to have different energy, you're going to show up in a different way. And then from there, I just believe in having trust, so that your money's outside of your estate, and protecting financial predators so you own nothing but control everything. And I personally use life insurance. I use just standard over, you know, like basically properly structured, optimally funded whole life, so that death benefit will come in after I die. It allows me to spend more of my money and then have it replenished so I can enjoy more of my money along the way, because I know that death benefit will be there for my wife or even for my family trust after I'm gone, so I don't disinherit the people that I love.   Keith Weinhold  39:31   Garrett Gunderson, he can take you through these steps, which he calls financially fit, to financially independent, and then finally to financially free. Tell us a little more about that going through those steps.   Garrett Gunderson  39:44   So financial fitness means your financial house is in order. You've got everything handled properly, car insurance, homeowners, liability, disability, medical life insurance, your corporate structures as a business owner, how you pay yourself, your taxes the last three years and move. Moving forward your investments. It's like, you know what it's going on. You've improved your cash flow, and you're dialed in. You're as safe as you could possibly be. Then financial independence is, how can we create income, especially from a business that comes in when you don't, that's people, that's processes, that's technology, so that you can be involved, but you don't have to be involved. This is the part most people miss, yeah, and I think it's crazy. A lot of people have this notion they're just going to work so hard so they can sell their business one day, I'm like, What about just creating a business that you love so much you don't want to sell it? What about giving up the things that are burning you out and have the employees that can take care of that so you do the things that you love and then just enjoy life along the way, take some little trips, take some time off and come back in. The business grows up when you're away, they learn how to do things without you, and then you can still create value into that business. I sold the business in 2021 and really regretted it, because I kind of was so removed from the business. I kind of felt like it lost its soul and I didn't feel connected to it. So this time around, I started a business in July of 2024 I'm like, I'm only going to work with the P with the people I love, building things that I love, and I'm not going to let myself get burned out by doing too much. We're going to take two weeks in Hawaii coming up here in April, just enjoy some time together as a family. We do quarterly family retreats with my wife and kids. We do traditions with my family up at my cabin, like I want to have this great life where it's blurs the lines between work and play. I have a little quote from someone else that talks about that art of life is blurring the lines between work and play, but also just having complete play sometimes that there is no work. So I come back refreshed, relaxed, rejuvenated and ready to create. And so really, that financial independence gives you permission to swing for the fences and what you do, knowing your foundation is handled, knowing that your lifestyle is covered, from assets to create cash flow gives you work optional freedom. But instead of retiring, think, what could your biggest impact be like? Create the life you don't want to retire from. Create a vision so compelling you can dedicate your life to it and find that the win is actually in the work, not just the outcome. I think that is the elegance of we win when we play, and when we have more play in our life. We don't try to escape from something. And when you start something, you might have to do things you hate, but you can eventually delegate it, and then life becomes great. I mean, one of my early coaches, Dan Sullivan, who I mentioned, a strategic coach. He's in his 80s, still behemoth of creating value in the in the market. To listen to him, you know, he's phenomenal. He's made such a huge difference in my life, and he has no intent of retiring. He just gets smarter every year, adds more value, builds more infrastructure, and he's the one that taught me the merit of free days, just taking time off, taking time away. So, yeah, that's financial independence. Is cash flow, and then financial freedom is a state of mind. It's when money is no longer the primary reason or excuse you would do or not do something. It's a consideration, but it's no longer the consideration means that you have a healthy relationship with money. Money is an asset and an ally, not an enemy. You don't come from a place of scarcity. You come from a place of abundance. You can be more present with your family and doing what you do without feeling distracted. I think wealth is our ability to be present, not necessarily how much money we have in a bank account. I think we have a good amount of money in a bank account, and we can be present. That is like true wealth.   Keith Weinhold  43:12   It harkens back to the John D Rockefeller, he who works all day has no time to make money. Rockefeller would have said, you can architect a wealth plan if your head is down on the assembly line, that means gradually move your offer. It's from trading your time for dollars over to owning assets that pay you to own them. Garrett's comedy special is called the American Ream. There's no D in that word, R, E, A, M. You can look that up, Garrett. It's been enlightening as always. Thanks so much for coming back onto the show.   Garrett Gunderson  43:43   Hey man, good to be back.   Keith Weinhold  43:51   Always. A lively conversation with Garrett, besides some great mindset perspective, he's really good at saving you tax and setting you up with asset protection. Though he's not as real estateish as me, he's pretty savvy. For example, He's aligned on the fact that, for example, say you have an 80k debt. Well, it doesn't necessarily mean that it makes sense for you to pay that off sometimes it does, but what happens to your net worth anytime you pay off an 80k debt, well, let's see. You've reduced your asset side by 80k and you've reduced your debt side by 80k so your net worth is the same, and retiring the debt means that you might have lost leverage, lost cash flow and lost tax advantages, all at the same time on Instagram, send a DM with the two words, Keith Cows to Garrett B Gunderson, and he'll hook you up with his book for free next week on the show, we go deep on does America really have a housing shortage with an expert analyst. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.    Speaker 4  45:01   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively   Keith Weinhold  45:29   The preceding program was brought to you by your home for wealth. Building, get richeducation.com  

Dans ce 166eépisode, je fais la synthèse du livre « Killing Sacred Cows »de Garret Gunderson écrit en 2007. Abonne-toipour soutenir mon travail et obtenir un épisode supplémentaire chaque mois : https://podcasters.spotify.com/pod/show/financesfondamentales/subscribe Je t'invite aussi à suivrela page Facebook « Finances Fondamentales - éducation et investissement » pouravoir accès à l'image synthèse de l'épisode et pour me poser tes questions.Page Facebook : ⁠⁠⁠⁠https://www.facebook.com/profile.php?id=100088196588852⁠⁠⁠⁠ Tu pourras également y consulter l'analysefondamentale des compagnies de la semaine. Page Instagram dupodcast : https://www.instagram.com/finances.fondamentales/?hl=fr Pour vos besoins d'assurances, contactezGallard Assurances : https://www.gallard.ca/ L'usine Podcast : https://lusinepodcast.libsyn.com/Pensez à votre santé etprenez rendez-vous avec Maxime : https://lusinesherbrooke.com/ Chaque matin, lebalado InfoBref résume l'actualité en 5 minutes: https://spoti.fi/3SiIdmeL'infolettre qui donnel'essentiel des nouvelles en 5 minutes: https://infobref.com/ff Gmail: ⁠⁠⁠⁠Financesfondamentales@gmail.com⁠⁠⁠⁠ Clausede non-responsabilitéInvestir comporte des risques deperte. Ce podcast est uniquement à des fins d'information et ne doit pas êtreconsidéré comme un conseil en investissement personnalisé ou être utilisé pourprendre des décisions d'investissement. L'animateur du podcast peut détenir despositions dans les titres discutés.L'animateur du podcast reçoit despaiements de diverses entités pour des publicités. L'inclusion de tellespublicités ne constitue ni n'implique une approbation, un parrainage ou unerecommandation de ceux-ci, ou toute affiliation avec ceux-ci. Lesinvestissements dans des titres comportent des risques de perte. Toute mentiond'un titre particulier et des données de performance associées ne constitue pasune recommandation d'acheter ou de vendre ce titre. Les informations fourniessur le podcast ne sont pas destinées à un investisseur ou à une catégoried'investisseurs spécifiques et sont fournies uniquement à titre d'informationgénérale.Évidemment, rien sur ce podcast nedoit être considéré comme un conseil financier personnalisé ou unesollicitation d'achat ou de vente de titres. Pour tout conseil spécifique,veuillez consulter un professionnel. L'animateur du podcast ne peut être tenuresponsable de vos décisions financières.

Killing Sacred Cows. Pastor Kurt Owen says some things on today's episode that drive the nails in the coffin of some truly sacred cows. Don't miss today's episode of Fight To Win with Pastor Kurt Owen.Tactical Tip: Many of our videos contain a short section we call Tactical Tips. Most offer ways to improve personal safety and security.Request the Free Offer: https://www.fighttowin.tvLearn More, Register for Events & Donate:https://www.kurtowen.com/***2025 UPDATED TEXT TO GIVE INFORMATION***Text GIVEKOM to 44321Prefer to Watch the Video?https://youtu.be/BYBTBe0OyP0Become a supporter of this podcasthttps://www.spreaker.com/podcast/fight-to-win-tv-with-kurt-owen--5638799/support.

Garrett Gunderson is a New York Times and Wall Street Journal bestselling author of Killing Sacred Cows and What Would the Rockefellers Do?. He's built and sold an Inc. 500 financial firm, published ten books, created a comedy special on Amazon Prime, and now helps entrepreneurs grow their income, keep more of what they make, and design a life they love. In this episode, Garrett and Travis catch up on his last six years and dive into strategies for creating—not cutting—your way to wealth. Top 3 Takeaways: Expanding your means is as critical as budgeting and efficiency — you can't scrimp your way to wealth. Invest first in yourself — skills are compounding assets that make every other investment more profitable. Cash flow buys freedom — when expenses are covered by assets, you can focus on creating and innovating. Connect with Garrett Gunderson: Instagram: @garrettbgunderson — DM “Travis” for a free audiobook copy of Money Unmasked.

Garrett Gunderson is an entrepreneur who became a multimillionaire by the age of twenty-six. Garrett coaches elite business owners in the financial services industry. His book, Killing Sacred Cows, was a New York Times and Wall Street Journal bestseller.In this interview, Dr Mitch takes a deep dive into Garrett's personal story from his car detailing business he started at the age of 15 to becoming a multimillionaire by his mid 20's and how he has become know for his YouTube videos where he literally sketches out how to become financially independent. Learn more about Garrett Gunderson:https://www.garettgunderson.com Instagram (@GarrettBGunderson) YouTube  @GarrettGundersonTV  Watch more episodes at https://www.truthtalks.com

Garrett Gunderson is a financial educator, entrepreneur, and bestselling author known for challenging traditional money myths and making finance accessible and even entertaining. From his roots in a fourth-generation coal mining family, he built an INC 500 firm, wrote several bestsellers including Killing Sacred Cows, and even filmed a stand-up comedy special about money. Garrett's mission is to help people create wealth and enjoy life now not just someday.Connect with Garrett:https://garrettgunderson.com/https://www.instagram.com/garrettbgunderson/ Money Multiplier Masterclass:http://garrettgunderson.com/mmm-----------------------------------------------------------Want to take your life to the next level?⁠ ⁠Click here⁠⁠Start your day right with AG1, packed with 75 high-quality ingredients that support gut health and overall performance. Get a FREE 1-year supply of Vitamin D and 5 free AG1 Travel Packs with your first purchase. ⁠⁠⁠⁠⁠⁠⁠⁠⁠drinkAG1.com/naeem⁠⁠⁠⁠Join the Peak Humans Community:  https://peakhumans.io/Welcome to Peak Humans with Naeem Mahmood, founder of Peak Humans and a world-renowned peak performance coach, keynote speaker, and expert in leadership, organizational behavior, psychology of achievement, and sales mastery. Previously a top coach for Tony Robbins, Naeem has delivered over 1,000 talks and trainings across the United States, impacting over 50,000 lives.On this podcast, you'll discover the mindsets, strategies, and habits used by top performers to master their emotions, optimize their health, and achieve unstoppable success. From psychology to longevity, business to leadership, Naeem shares the lessons, tools, and insights that will help you unlock your full potential and become the best version of yourself.Connect with Naeem:Instagram: ⁠https://www.instagram.com/iamnaeemmahmood/⁠X: ⁠https://x.com/NaeemMahmood⁠

On July 22, attend our free web class to discover the 6 proven processes to pull you off the job site and out of sales. Register now here: https://trybta.com/CE-CGM-JL25To learn more about Breakthrough Academy, click here: https://trybta.com/EP226 Take Garrett's Money Persona Quiz here: https://garrettgunderson.com/quiz/Are you building wealth, or just building a business?Because for a lot of entrepreneurs, those aren't the same thing.Our guest today is Garrett Gunderson. He's built and sold an Inc. 500 financial firm, authored multiple bestsellers like Killing Sacred Cows and What Would the Rockefellers Do?, and now teaches business owners how to challenge outdated financial advice and actually build lasting wealth.In this episode, Garrett unpacks the myths (or “Sacred Cows”) keeping contractors stuck in survival mode.Listen in to learn how to build a life you don't want to retire from, all while taking care of your family for generations to come.If you're looking to build more than just profits—this one's a game changer.Episode Highlights:Get a breakdown of the major financial myths (Sacred Cows) bestselling author Garrett Gunderson says are holding contractors back from building the life they deserve.Learn why the traditional approach to retirement often leaves entrepreneurs unfulfilled, and what to focus on instead.Hear Garrett's advice on investing in your heirs—how to instill your values into kids that are growing up in a different reality than you did.00:00 - Intro01:12 - About Garrett09:02 - What does "Killing Sacred Cows" mean?13:35 - Dangers of blindly following financial advice17:05 - Principle 1: Abundance vs. Scarcity28:34 - Principle 2: The Retirement Myth41:58 - Principle 3: Cash Flow Over Net Worth49:24 - Principle 4: Investing in Your Heirs54:14 - Lightning Round55:30 - Wrap Up and Money Persona Quiz

Click here to watch the video version. In this episode of "From Busy to Rich," we revisit the conversation hosts Wes Young and Justin Lakin had with Garrett Gunderson, a bestselling author, financial expert, and comedian. Garrett shares his journey from running a successful financial firm to blending comedy with financial education. They highlight the importance of living a fulfilling life, holistic financial planning, and the concept of a "family bank" inspired by the Rockefeller method. Garrett emphasizes the value of giving before asking for help, creating rituals and traditions within families, and leveraging whole life insurance for long-term wealth and legacy. In today's episode we will cover: Transition from managing a financial firm to pursuing a passion for educating others and for comedy. Importance of living a fulfilling life and finding purpose. The role of humor in enhancing learning and retention in finance. Concept of the "family bank" and its significance in wealth preservation. Overview of the Rockefeller method for maintaining family wealth across generations. Importance of storytelling and rituals in family legacy and values. Practical applications of financial strategies for seizing opportunities. Encouragement to focus on giving and creating value in relationships. For the chance to receive a free copy of one of Garrett's books see details below: The first 5 people to leave a podcast review on Apply or Spotify and email a screenshot will receive a copy of Killing Sacred Cows 2.0 Anyone who leaves a review of Killing Sacred Cows 2.0 on the internet and sends Garrett a DM or email with the screen and subject “Wesley Licensing” will receive 3 free audio book version of Garrett's other best selling works All transform learning series participants who enroll in the January 2025 class will receive a free copy of the book. Garrett.live Garrett's Instagram Garrett's Website Email: garrett@garrettgunderson.com We hope you enjoy this episode, and we would love to hear your feedback by having you leave a review. Have a question for us to answer on the podcast? Let us know here! If you're an advisor and want to further explore these or other topics, you can learn more at www.wesyounglive.com. Maybe you're interested in taking your own planning journey in a new direction, in that case we would love to have you join us in one of our coming Transform Learning Series.

What if everything you've been told about retirement and budgeting is wrong? In this bold and hilarious conversation, Dr. Lauryn sits down with best-selling author and financial disruptor Garrett Gunderson to rethink everything from 401ks to scarcity-based money mindsets. Garrett shares his journey from a coal mining lineage to redefining wealth, and breaks down why so many financial “truths” are actually traps designed to keep you disempowered.They dive into why traditional retirement plans fall short, how budgeting often creates more stress than freedom, and what it really means to become financially independent in today's world. You'll learn Garrett's framework for building wealth in 3–7 years, how to use whole life insurance strategically, and how to align your financial strategy with your personality. This episode is a masterclass in thinking differently, investing smarter, and living more abundantly.Key Takeaways:Traditional retirement plans are broken. Garrett explains how 401ks were designed to benefit institutions more than individuals and why most retirement strategies are based on outdated, flawed assumptions.Budgeting isn't the answer—mindful cash management is. Instead of restrictive budgets, Garrett promotes a system where you automatically save, plug financial leaks, and spend intentionally.Build wealth by expanding your means, not shrinking them. Garrett outlines how to create financial independence by focusing on cash flow, investing in yourself, and picking the right asset class based on your strengths.Whole life insurance can be a powerful savings vehicle. When structured properly, it's a safe, tax-advantaged alternative to bonds with long-term benefits and liquidity.Guest Bio:Garrett Gunderson is a financial educator, entrepreneur, and best-selling author of Killing Sacred Cows and What Would the Rockefellers Do?. With a mission to expose the myths that keep people stuck financially, he helps entrepreneurs achieve true financial independence through cash flow strategies, mindful money management, and value-aligned investing. He is also the creator of the program Multiplier and the star of the Amazon Prime comedy special The American Ream.DM Garrett on Instagram with Lauryn or the podcast's name and he will send you his audiobook, What Would the Rockefellers Do?, for free!Follow Garrett: Instagram | LinkedIn | WebsiteWatch Garrett's comedy special on Amazon Prime: The American ReamResources:For those interested in building a profitable personal brand in just two hours a week, check out Dr. Lauryn's new membership group Beyond Brick & Mortar!Grab Lauryn's free “Sexy Niche Checklist” from her website.Sign up for the Weekly Slay newsletter!Follow She Slays and Dr. Lauryn: Instagram | X |

Killing Sacred Cows. Pastor Kurt Owen says some things on today's episode that drive the nails in the coffin of some truly sacred cows. Don't miss today's episode of Fight To Win with Pastor Kurt Owen.Request the Free Offer: https://www.fighttowin.tvLearn More, Register for Events & Donate:https://www.kurtowen.com/Prefer to Watch the Video?https://youtu.be/t5AOov7CdPgBecome a supporter of this podcasthttps://www.spreaker.com/podcast/fight-to-win-tv-with-kurt-owen--5638799/support.

Wellness + Wisdom | Episode 713 What if everything you've been taught about money is actually keeping you broke? Garrett Gunderson, Multimillion Entrepreneur, joins Josh Trent on the Wellness + Wisdom Podcast, episode 713, to challenge the myths around budgeting, hustle culture, and “safe jobs.” In this eye-opening conversation, Garrett unpacks why money follows value, how technology can create better opportunities, and why genuine wealth starts with loving yourself—proving once and for all that the greatest investment you can make is in yourself and your own healing. "Scarcity is the greatest destroyer of wealth. It comes from a place of limitation and lack, and it gets perpetuated because people are taught to budget and budgeting is reductionist thinking and a finite game." - Garrett Gunderson Join The Multiplier Community The Multiplier Community is an invite-only community for producers that supports you in living your richest life. Created by Garrett Gunderson, it is part of his mission to help entrepreneurs achieve financial independence by focusing on cash flow, clarity, and aligning financial strategies with personal values. Gunderson's methods prioritize aligning investments and business decisions with one's unique strengths and values, fostering sustainable financial freedom. His overall philosophy includes integrating mental, physical, and social well-being with financial strategies to create a comprehensive sense of prosperity. It is an invite-only community with standards of commitment and value creation. Join today In This Episode, Garrett Gunderson Uncovers: [01:10] How to Create Wealth Garrett Gunderson Why scarcity is the greatest destroyer of wealth. How most people are stuck in the consumer mindset. Why money follows value. What Would the Rockefellers Do? by Garrett Gunderson + Michael Isom How transactions make us wealthier. Why generational trauma and epigenetics influence our relationship to money. Killing Sacred Cows by Garret Gunderson + Stephen Palmer [07:25] Continue to Work on Yourself Why focusing on our health gives us greater value as a creator. How the gap between growing ourselves and growing money is the risk. Why we should create a life we don't want to retire from. Why value is a feeling. [11:25] The Money Mindset We need to value ourselves if we want to be more valuable. How our conditionings limit our capacity for wealth. Why wealth gets trapped in receiving. How doing things on our own creates scarcity. [14:40] How Can Money Be Love? Why money problems are mental problems. How lower-level emotions keep us trapped. Why relationships and ideas are what creates money. How childhood wounds keep us stuck in victimhood. [18:35] You Don't Need to Sacrifice Anything to Get Wealthy Why the sacrifice mindset is rooted in culture and it's a false belief system. How the language of poverty keeps us poor. Why our dreams don't require sacrifice. The importance of building a life where we continue to grow. [22:35] The 4 Types of Expenses Why we need to redefine the meaning of the word "expense." How our quality of life is a part of our investment. The four types of expenses. Why budgeting is not the answer to getting rich. [26:10] Is Technology Going to Steal Your Job? Why people believed the printing press would take everyone's job. What makes people think they can't have a better job. Why technology gives us more space to do more interesting work. [29:00] The Frequency of Pride Why people get stuck in the frequency of pride. No amount of effort can compensate for bad philosophy. When we don't like the work we do, it will create a hateful relationship with ourselves. Why having a "safe job" doesn't provide true safety. How we can move from force to flow. Why our vision determines our value. How Garrett's entrepreneurship changed his family. [37:15] Don't Be Driven By Greed How Garrett started creating business when he was very young. Why everyone has their own investor DNA. How he was driven by greed and naivety. Why he didn't love what was doing when he started making money. How the lack of vision made Garrett make bad business decisions. [46:25] The Value Index Why shortcuts often end up being a detour. How reaching our financial goals won't bring us more peace. Why we need to stop thinking about ourselves and start thinking about what we can do for others. The definition of wealth. Why we should celebrate the wins and not focus on the losses. Click (2006) [53:05] Take Care of Your Mental Capital Multiplier Program Why seeing each other as one is the key ingredient. How the means don't justify the end. Why compliments come from abundance. What wounds make other people bring us down or criticize us. [58:30] Free Will VS Free Market Why people vilify rich people. How taking responsibility is the key to wealth. What prevents us from having a free market. Why purpose comes from free will. Where Josh's money wound came from. [01:03:40] Heal Your Old Wounds When we label someone, we're trying to validate the label we put on them. How MDMA somatic sessions have been helping Garrett release trapped emotions. Why his childhood trauma impacted his beliefs about himself. [01:08:15] What Does It Take to Start Healing? Why self-love is the foundation of all relationships. JV Crum The Body Keeps The Score by Bessel van der Kolk How a dream got him to heal his deepest wounds. Why we don't need money to start healing. The Town (2010) [01:15:40] How to Make More Money + Keep Them MissingMoney.com The 3 layers of our money story. How to start investing money. Why most entrepreneurs overpay on taxes. How to restructure our mortgage and credit. Why risk is in the investor and not the investment. [01:25:35] Indoctrinations Keep You Poor Why we need to keep the money flowing. Dave Ramsey How paying off a mortgage might make us lose money. Why we can't let society define the meaning of wealth. How Garrett started educating people about the truth. Why financial freedom is a state of being. Leave Wellness + Wisdom a Review on Apple Podcasts Power Quotes From The Show Do You Have a Money Problem? "It doesn't take money to make money, it takes relationships and ideas. It takes value and exchange. So if you think you have a money problem, it's not really a money problem. It's a mental capital problem, which means ideas, knowledge, wisdom, insights, strategies, and tools." - Garrett Gunderson Value Creation "Money is a byproduct of value creation. Value creation means that we've served someone, we've solved the problem, we've added value in their life. Vision is what determines value. And if we have a limited vision, we're going to limit our value." - Garrett Gunderson Take Responsibility for Your Actions "Responsibility is the key reason why people don't have wealth. You have to be responsible for your actions and reactions. You have to be responsible your next thing that you do, and even for your mindset. And if you don't take responsibility, you can't have prosperity because one doesn't exist without the other." - Garrett Gunderson Links From Today's Show  Garrett Gunderson What Would the Rockefellers Do? by Garrett Gunderson + Michael Isom Killing Sacred Cows by Garret Gunderson + Stephen Palmer Click (2006) Multiplier Program JV Crum The Body Keeps The Score by Bessel van der Kolk The Town (2010) MissingMoney.com Dave Ramsey   Josh's Trusted Products | Up To 40% Off Shop All Products Biohacking⁠ MANNA Vitality - Save 20% with code JOSH20 HigherDOSE - 15% off with the code JOSH15 PLUNGE - $150 off with discount code WELLNESSFORCE Pulsetto - Save 20% with code "JOSH" SaunaSpace - 10% off with discount code JOSH10 Ultrahuman Ring Air - 10% off with code JOSH Wellness Test Kits Choose Joi - Save 50% on all Lab Tests with JOSH Blokes - Save 50% on all Lab Tests with JOSH FertilityWize Test by Clockwize - Save 10% with code JOSH Tiny Health Gut Tests - $20 off with discount code JOSH20 VIVOO Health Tests - Save 30% off with code JOSH SiPhox Health Blood Test - Save 15% off with code JOSH Nutrition + Gut Health Organifi - 20% off with discount code WELLNESSFORCE SEED Synbiotic - 25% off with the code 25JOSHTRENT

Click here to watch the video version. In this episode of "From Busy to Rich," hosts Wes Young and Justin Lakin welcome Garrett Gunderson, a bestselling author, financial expert, and comedian. Garrett shares his journey from running a successful financial firm to blending comedy with financial education. They highlight the importance of living a fulfilling life, holistic financial planning, and the concept of a "family bank" inspired by the Rockefeller method. Garrett emphasizes the value of giving before asking for help, creating rituals and traditions within families, and leveraging whole life insurance for long-term wealth and legacy. In today's episode we will cover: Transition from managing a financial firm to pursuing a passion for educating others and for comedy. Importance of living a fulfilling life and finding purpose. The role of humor in enhancing learning and retention in finance. Concept of the "family bank" and its significance in wealth preservation. Overview of the Rockefeller method for maintaining family wealth across generations. Importance of storytelling and rituals in family legacy and values. Practical applications of financial strategies for seizing opportunities. Encouragement to focus on giving and creating value in relationships. For the chance to receive a free copy of one of Garrett's books see details below: The first 5 people to leave a podcast review on Apply or Spotify and email a screenshot to info@wesyounglive.com will receive a copy of Killing Sacred Cows 2.0 Anyone who leaves a review of Killing Sacred Cows 2.0 on the internet and sends Garrett a DM or email with the screen and subject “Wesley Licensing” will receive 3 free audio book version of Garrett's other bestselling works All transform learning series participants who enroll in the January 2025 class will receive a free copy of the book. Garrett.live Garrett's Instagram Garrett's Website Email: garrett@garrettgunderson.com We hope you enjoy this episode, and we would love to hear your feedback by having you leave a review. Have a question for us to answer on the podcast? Let us know here! If you're an advisor and want to further explore these or other topics, you can learn more at www.wesyounglive.com. Maybe you're interested in taking your own planning journey in a new direction, in that case we would love to have you join us in one of our coming Transform Learning Series.

SummaryIn this conversation, Garrett Gunderson shares his extensive journey in the financial services industry, discussing his early experiences, the evolution of his career, and the importance of understanding financial strategies. He emphasizes the significance of navigating financial noise, the concept of fractional family offices, and the value of creating cash flow through intellectual property. Garrett also provides practical advice for new business owners on managing their finances and building wealth effectively. In this conversation, Garrett discusses the strategic use of intellectual property in marketing and customer service, the importance of whole life insurance as a financial tool, and the challenges of ensuring adequate life insurance coverage in modern society. He emphasizes the need for financial education and the role of asset allocation in wealth management.Chapters00:00 Introduction to Garrett Gunderson03:07 Garrett's Journey in Financial Services05:50 Navigating Financial Noise and Conviction08:56 The Concept of Fractional Family Offices12:02 Running a Personal Family Office14:50 Advice for New Business Owners18:09 Creating Cashflow through Intellectual Property22:42 Leveraging Intellectual Property for Growth24:56 Navigating Intellectual Property Challenges28:02 The Case for Whole Life Insurance37:02 The Importance of Life Insurance in Modern Society41:49 Asset Allocation and Financial StrategyListeners can connect with Garrett Gunderson or follow his work through:Instagram: @GarrettBGunderson – where they can send him a DM for a copy of his book. Just mention “Antonio” and specify the title they'd like (e.g., Money Unmasked, What Would the Rockefellers Do?, Killing Sacred Cows).Wealth Factory: Wealth Factory – Garrett's platform for financial resources and educational content.Garrett's books, such as What Would the Rockefellers Do?, Killing Sacred Cows, and Money Unmasked, can be found on Amazon, Wealth Factory's website, or by connecting with him directly through social media.

In this episode, I'm excited to sit down with Garrett Gunderson, a financial expert and Wall Street Journal bestselling author of Killing Sacred Cows. Garrett is a unique voice in finance, blending humor and innovative strategies to help people create lasting wealth. We discuss his producer paradigm, which empowers individuals to create more value and take control of their financial future. Garrett's philosophy challenges conventional wisdom and offers a fresh perspective on building wealth and living a life of abundance. What You'll Learn: The difference between a consumer mindset and a producer mindset and why it matters. How to overcome deep-seated financial fears that hold you back from wealth and success. The three types of financial lies we tell ourselves and how to break free from them. Why financial independence isn't just about numbers—it's about mindset and daily choices. How to build a life you don't want to retire from and achieve true financial freedom. The importance of finding a co-creator, eliminating escapism, and delegating roles, not tasks, to scale your success. Resources Mentioned: Killing Sacred Cows by Garrett Gunderson What Would the Rockefellers Do? by Garrett Gunderson Garrett Gunderson's Website Connect with Garrett Gunderson on Instagram Favorite Quotes from the Show: “Financial freedom is when money is no longer the primary reason or excuse for doing or not doing something. It's a consideration, just not the consideration.” “Wealth is a byproduct of a life well lived. It's not just about accumulating money; it's about creating value, enjoying life, and making an impact.” “Ask yourself: What would it take to afford this? How can I be more resourceful? This mindset opens up possibilities, while saying ‘I can't afford it' shuts your brain down.” Stay Connected I hope you enjoyed this conversation with Garrett Gunderson. For more inspiring interviews and transformative conversations, be sure to subscribe to my podcast and stay connected on social media: YouTube LinkedIn Facebook Instagram Twitter And if you enjoyed this episode, please share it with friends and family and leave us a review. Until next time, keep living your best life and let the love flow!

Welcome to The Cashflow Project! Today, Curtis May, host of The Practical Wealth Show and owner of Practical Wealth Advisors, shares 35 years of financial insights. He discusses principles from The Gap and The Gain, highlights the power of controlling cash flow and persistence, and introduces the concept of infinite banking. Curtis also emphasizes foundational financial practices and offers advice on using time effectively. Tune in to transform your wealth-building approach with Curtis's wisdom on financial freedom and principles-based planning. [00:00] Reading economics to understand market disruptions. [03:20] Helping achieve financial freedom through principles-based planning. [06:42] System lacks savings; spending is default mode. [10:53] Focus on efficiency, not just investment picking. [13:35] Inherited business mindset, parents' influence, self-learning journey. [16:50] Manage debt efficiently; follow Babylon's principles. [20:08] Work on mindset, skill set, and network. [23:52] Become a real investor; prioritize saving and protection. [25:28] You achieve financial freedom through strategic investments. [28:20] Watching screens limits personal creative time. [33:49] Killing Sacred Cows influenced financial mindset development. [35:35] Mind the gap; avoid missing opportunities. [38:05] Learn MBA concepts through podcasts and audiobooks. [42:13] Start with little money; grow your future. [44:17] Start with basics; success builds incrementally. Connect with Curtis May! Website LinkedIn Connect with The Cashflow Project! Website LinkedIn YouTube Facebook Instagram

GARRETT GUNDERSON is an entrepreneur who became a multimillionaire by the age of twenty-six. Garrett coaches elite business owners in the financial services industry. His book, Killing Sacred Cows, was a New York Times and Wall Street Journal bestseller. Get His Recent Children's Book- I Am Money: https://a.co/d/3WEMSR0

Firebrand speaker and author of “Killing Sacred Cows”, Garrett Gunderson, joins us to discuss wealth mindset and value creation. Also, Keith touches on the impact of falling interest rates on various loans and the economy noting that lower rates can benefit savers and investors. Historical data shows that home prices have only fallen 6 times in the last 83 years, signaling the rarity of significant price declines.  Learn about the Rockefeller method, which involves using trusts and whole life insurance to preserve and grow wealth. Garrett advocates for investing in real estate, businesses, and intellectual property rather than mutual funds or ETFs. DM Garrett on Instagram to receive a free copy of his book on the Rockefeller method. Resources: GarrettGunderson.com or  Alon Instagram @garrettbgunderson Join our upcoming GRE live event right here! - ‘New Turnkey Properties with ZERO Money Down' on Thursday 10/24. Show Notes: GetRichEducation.com/522 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai     Keith Weinhold  00:01 Welcome to GRE. I'm your host. Keith Weinhold, talking about what falling interest rates really mean to you. 10 years of the GRE podcast, politics are overrated. How often do home prices fall? The latest in AI generated podcasting and then wealth mindset and wealth preservation all today on get rich education.   00:27 Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  01:12 You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  01:28 Welcome to GRE from Evansville, Indiana to Victorville, California and across 488 nations worldwide for an entire decade of your life now, this is Get Rich Education. I'm your host. Keith Weinhold, what does it mean that we're in an era of falling interest rates from the recent peaks, rates of all types have fallen. Mortgage rates have fallen. The Fed funds rate has fallen, and that prime rate has fallen too. I mean the prime rate that you pay, that's basically the Fed funds rate plus 3% and why the prime rate matters to you is that can affect credit cards, home equity loans, automobile loans and small business loans, every one of them down, down, down. So to any savvy investor that knows what's going on in the 21st century? This can mean celebration for your wallet, for your finances. And look in old days, lower rates, that would be bad news, not good news. And why is this? Well, in olden days, and some people still have an outdated mindset, lower rates are bad because savings accounts used to make sense back in the day, and lower interest rates means lower rates for savers on their bank, savings accounts. Yeah, those 5% online only savings accounts are going to four and a half with the Fed's half point rate cut last month. Well, 100 years ago, you could be a saver. That made some sense, because their interest rates could reliably beat inflation over time, but not today. Today, since inflation transfers wealth from lenders to borrowers and inflation redistributes wealth from savers to debtors. For those like us that understand this and act accordingly, we are indeed the beneficiaries of lower interest rates. Now, there are other effects out there in the economy. Cheaper loans could lead to more m&a activity, more mergers and acquisitions that can benefit investment banks like your Goldman Sachs that facilitates those transactions. Well, what happens to real estate prices amidst lower interest rates? What happens is that they tend to rise now here on the show, you remember that since 2022 I have discussed what has surprised a lot of people. Amidst rising interest rates, the environment that we used to have, home prices tend to rise. And it has happened again. When mortgage rates tripled, prices kept right on rising. So you might wonder, well, wait a second, which is it or I'm confused, amidst rising interest rates, home prices rise and amidst falling interest rates, home prices rise too. And the answer is yes, look at history over hunches. To our newsletter readers, I recently sent you that great chart, a table, I guess it showed the national home price, rate of appreciation or depreciation for every single year, going back to World War Two and from 1942 until today, those 83 years, how many times do you think that home prices fell over the last 83 years? There were exactly six, six of the last 83 years, only six where home prices fell. Paradoxically, interest rates don't have much to do with home prices, and this is all per Case Shiller statistics. Over the last 83 years, there were only six down years. 72 were up. Five were even. And of those six down years in the last 83 five of the six down years were tied up in a once. I mean, it took a once in several generations confluence, a cataclysm of events to occur during the global financial crisis, 2007 to 2011 all at once. Back then, it was a housing supply, surplus, disgustingly lawless mortgage market, cheap credit and a preponderance of debt in the banking system since World War 2, 83 years ago, there was only one other year when home prices fell, that was 1990 when they fell by 1%. If you're waiting for Home prices to fall substantially, it is super unlikely that that is going to happen. Just look at history, and today's market has more than the housing shortage in loads of protective homeowner equity, which means low delinquency rates, and we have permanently inflated higher prices baked into replacement costs of all kinds, land, architecture, engineering, permitting, regulation, labor, building, equipment, construction materials all over the place, but us, you know, as real estate investors, we might be more interested in rent appreciation than prices just four years ago, you know, just then to pay $2,000 to rent a single family home. I mean, that was quite a nice place in the Midwest and South. And today I have modest single family rentals built 50 years ago that are about 1200 square feet, and now they rent for $2,000 $2,000 a month's rent that is common today, and we are rooting for rents to appreciate faster than home prices. And if you want to get our newsletter, you're probably on that list by now, and reading it, I just send some of the best charts in real estate maps to you. You can sign up free right now. Just do it while it's on your mind. Text GRE to 66866, that's text GRE to 66866, for our Don't quit your Daydream Letter. Political season is heating up. We are at a time where we are one month from a general election, and that means we're electing a new president, vice president, 1/3 of the Senate, the entire house of representatives and various state and local officials. Yes, politics matter. Politics affect real estate. So why don't I discuss this more here on the show. Well, I explained that to you a while ago. It gets divisive, and it rarely affects people as much as they think. And as you know, I avoid even using words like Democrat, Republican, left, right, conservative and liberal. And why do I do that? Because they are divisive terms. The problem isn't so much politics. It's when people get infected with the partisan mind virus. Yes, they put party over country. For example, a partisan political instigator will swear to god that the economy is great now, but as soon as, say, a different party wins an election, even if the economy is the same, although now say that that same economy is awful. In fact, a couple years ago, I quit my job as a writer for a publication that you've heard of before. I no longer contribute to them. They put party before country, in my opinion, I wrote an article for them about two years ago, and my article made it sound like an eminent recession was a question, not a foregone conclusion. Well, the editor let me know that their consensus of writers feels like a recession is eminent and that I need to change my article to reflect that that's because they don't like the administration that's in power, so I quit rather than edit my article. I mean, if you just ask an American the question, this question, do you wish that America were less divided? Well. Any sane person would answer that question, yes. Well, then why would you go attach divisive labels to the other side and attack them? It makes no sense. That's where the division comes from. So really, it ought to be about solutions and ideologies and not political parties. So this is another reason why, during political season, I don't play those games, and we stick to investing the economy and wealth mindset. I mean, virtually no other country in the world drags out their presidential election cycle this long. I mean, it's like a year and a half. Remember all those debates last year and names like Nikki Haley and Vivek Ramaswamy that were in the news all the time. I mean, other countries get this entire process over with in six weeks. Let's take a page from them, and that way we can have more constructive things in our news cycle.  Well, I am coming to you from the makeshift mobile GRE studio today, like I do some weeks, because this morning, I woke up in reading Pennsylvania. Reading is, in fact, my birthplace, and besides being the pretzel capital of the United States, one way that you know about reading is from the Reading Railroad property in the board game Monopoly. Yeah, it's one of the properties that you can buy and, I guess, collect rent on. And, you know, here we are a real estate show. So maybe it's appropriate that the namesake of my birthplace is immortalized as a property on America's best known real estate game. And it also might be appropriate that I'm back here because the 10th anniversary of the launch of this show is nigh this coming Thursday, on October 10, 1010, it will be 10 years since episode one of this show. And yes, the math, I suppose, checks out, because there are about 52 weeks in a year, and you are listening to episode 522, right now. Well, listen to this. This could blow your mind. Have you heard an AI generated podcast? And I don't just mean sort of where a robot reads a blog in monotone and then you listen to that audio file that's embedded in the article. No, that's not what I'm talking about. Here's what I mean. A few weeks ago, I learned that macroeconomist Richard Duncan, who was the first ever guest on this show back in 2014 Gosh, all these tie ins to GRE 's origins today? Well, Richard published some PDF charts, and he uploaded them to notebooklm.google.com, that's how you find this. And he clicked generate audio overview, and within three minutes, it had created a podcast with two virtual people having this pretty intelligent, engaging and even humorous conversation about his presentation on interest rates. I mean, wow, just listen to the first minute or minute and a half of this AI generated podcast here. And again, this is from about a month ago. So they're talking about the upcoming Fed rate cut that did indeed happen.   13:23 All right, ready to dive in. Today, we're tackling the big question everyone wants to know, will the Fed actually cut rates on September 18? It's the question on everyone's mind, for sure, and more importantly, for our listeners, what's it going to mean for them to help us unpack this whole thing. We're looking at this report. It's by economist Richard Duncan, called why the Fed will cut September 12, 2024. Duncan always brings unique perspective. He cuts right to the chase, which I appreciate. right! So let's jump right in. Duncan starts by talking about inflation, which, let's face it, we've all been feeling the heat from this past year. Yeah, it's been a wild ride. Inflation hit a pretty brutal 9% last year. I think my grocery bills are still recovering. Oh yeah, tell me about it. But the latest number shows down to 2.5% that's both by the CPI and importantly, the PCE Price Index, right? And that PCE is the one the Fed really keeps their eye on, exactly, which is why I wanted to ask you about that. Why is the PCE like the golden child for the Fed, why not just stick with the CPI? Everyone knows that one. well, It's all about getting the most accurate picture of inflation. Think of it like this. The CPI is like taking a quick glance at prices. You know, just a snapshot in time. Okay with you, but the PCE, that's more like a movie. It captures how our spending habits change as prices change, and that gives the fed a better look at those underlying trends driving inflation. So it's like the CPI with a little bit of a crystal ball. It's trying to anticipate what's going to happen. It's got it okay? So inflation seems to be cooling down, which is good news, right?   Keith Weinhold  14:56 Gosh, that's just really good, a totally realistic sounding AI generated podcast just from some PDF files. The macro economist Richard Duncan uploaded remarkable and you know that the quality of that is only going to get better. That's probably about as bad as it's ever going to be right there. And in fact, in another 10 years, listeners could find it rather cute or quaint that we find this remarkable today. A big thanks to Richard Duncan for allowing us to play that and also expect Richard to be back here with us on the show again before the year ends, and here on the 10th anniversary week of the GRE podcast, you know, it makes me wonder how expendable my job as podcast host is going to be. I hope that I'm here with you in another 10 years, and I completely plan to be.  Well  episode number one of the get rich education podcast back from 2014 is called your abundance mindset. So it's apropos to visit a mindset topic today I'm going to do that with firebrand Speaker This week's guest, Garrett Gunderson. Here shortly, do you want to live a life that is small and safe and sheltered? I doubt that you really do, but you know, safe decision after safe decision, that's what most people end up doing. Do you want your kids to live a small, safe, sheltered life? I mean, most parents want safety for their children, but they're going to have an outsized impact on others when they study and then take the right risks. We're discussing those types of wealth creation mindsets with Garrett. He's a really talented guy. He was last with us six years ago. He's done some stand up comedy. Many have remarked that Garrett looks like Jesus Christ. He's the author of some popular books, including killing sacred cows. Let's talk to Garrett. This week's guest is a pretty well known author and speaker. He helps you make, keep and grow your money to help you live your best life. He's an especially dynamic speaker, public speaker, and I'm confident that you'll be able to hear that on the show today, because he has a great knowledge base, and he speaks with this conviction on topics that make him so compelling. Hey, it's been a few years. Welcome back to GRE Garrett Gunderson.   Garrett Gunderson  17:38 good to be back. I thought that was a very honest, like, pretty well known, like, I'm not really well known pretty well. That's just enough to annoy my wife. Like, I'll be going through an airport and someone come over and talk to me, and she's like, ah, but I love it, dude. I love conversations with people that I don't know, and I just get to meet because if they engage in my work, it gives us a chance to connect. And sometimes it makes me look cool to my kids, which is always a good thing. You know what I'm saying, like my son will be with me and someone say, hey, love killing sacred cows, or, Hey, are you that guy on YouTube? I'm like, it could be me, or you might be thinking, I'm Jesus. You know what I'm saying. I look familiar, though.   Keith Weinhold  18:14 Yeah. Now you can tell your kids that I said you are pretty well known. And you know, Garrett, you're also a really keen and perceptive person. You can tell if somebody's poor within 60 seconds of what they say. Tell us about that.   Garrett Gunderson  18:31 Oh, man, that video has so much hate. Man. I put that out like it was my son's filming, and I'm just sitting in our kitchen, and I was just thinking about a conversation I had earlier that day, and in the conversation, it was like, more about complaining about the world, saying that they couldn't afford things, saying they didn't have the time, blaming everyone for their situation. And I was like, man, it's pretty easy to tell. And 60 seconds, I mean, I guess maybe is a rash statement, because maybe it takes three minutes or 300 seconds, like five minutes, and get deep enough, but you just find that there's a certain language to poverty, and whether that's just poor in spirit, whether it's poor in mind, or whether it's poor in the bank account, typically it's devoid of personal responsibility. It's leading the levels of inspiration. And this isn't to say that if you're wealthy, that you only speak inspiring conversations. I mean, I complain sometimes that happens. I get frustrated. I get disappointed in myself for not being nicer to a customer service person and like, have to really manage that sometimes. But ultimately, it's this language that is almost like a Marxist type of language, you know, that comes from a place of like, I want this. I'm owed that we deserve this. And I'm like, wait, wait, wait, like, who's going to produce that? And so it's something that's a fairly easy thing to detect with just a few questions. Like, if I'm given one question, I can tell in 60 seconds for sure.   Keith Weinhold  19:57 Yeah. I think a lot of times people start complaining. About something. People find money a scarce resource when they start, you know, complaining about gas prices or something like that, I think that's just really a classic one. It tells me where they're coming from. I mean, it tells me what their mind is occupying.   Garrett Gunderson  20:12 Right.  And if we're not excited about our future, if we're not developing our skill sets, if we're not really engaged in the world of value creation, it's easy to get frustrated about tax it's easier to get frustrated about inflation. It's easier to get complaining about interest rates or loan rates and all those kind of things. But what I find is the best way to outpace inflation is through skill set, and if we truly invest in ourselves and invest in other people so that we increase our quality of life and our enjoyment of it along the way, we increase all the skill sets that matter. You've mentioned that I'm a decent public speaker and that I'm articulate. That comes from going through writing courses and hiring speaking coaches and just getting the reps and doing comedy and the things that will help me to become a more effective communicator. And then it's really about becoming a better cash flow investor. I know that you teach people a lot around, you know, real estate and investing, and that's one of the big three assets in my mind, that helps people generate and create cash flow. But most people are trapped in this indoctrination where they set money aside and forget it. They wait for 30 years and hope for the best. They're very one dimensional of just paying off a loan and then hoping the retirement plan is going to get them there. And that's why they end up in this mindset where they're like, oh, I don't feel in control, because the outcome of my income is something that's dictated by the economy and not my own willpower, not my own skill set, not my own value creation. And I think that's why retirement is such a bad and faulty notion. My main statement in life is create the life you don't want to retire from. Now, I get it. In the industrial age, people need to retire because they were being worked to death and they weren't living for very long. It was an immensely valuable concept back then, a blue to collar world back then? Yeah, right. But in today's world, what if people just invested more time in selecting your career that mattered or had enough faith and took a leap on themselves to start becoming a better investor or start a business or be an entrepreneur where they get upside potential, instead of just begging for safety and security, instead of just wanting the entitlement of benefits, instead of just trading time for money, like that's an industrial age concept that we watched, whether it's our parents or grandparents, go through trading time for money, but we're in a world where that's not required any longer, because we do have technology, we do have artificial intelligence, we do have these things that are starting to displace The jobs that no one really wants to do because it beats down the body, and there's a lot of opportunity for those that are willing to grasp it and go for it, but it comes down to one key thing, value creation. And if we're going to be devoid of value creation, it's easy to tell in 60 seconds whether someone's poor because value creation was not part of their concept or their purview.   Keith Weinhold  22:40 And value creation is about expanding that upside. And a lot of poverty mindsets just complain about the downside their expenses. And you can't really do that much about your expenses. You can only lower them so much. Anytime you do, you're probably diminishing your quality of life anyway. And really, I think a lot of this mindset of lack Garrett comes back to the fact that, simply, most believe that money itself is a scarce resource. I probably believe that at one time, when I was younger, maybe you did too. And as I like to say, although I wasn't the first person that said it, the only place that you get money is from other people. So most people, which tend to be employees, think their way to increase their income is only if their employer gives them a raise, or maybe if they find a new employer that pays them maybe 10% more, or something like that. So they're limiting their upside over there because they think money's a scarce resource, because it's got to come from an employer. Somehow they're not thinking about, why don't you really expand your upside and start an Amazon business, or rent cars through Turo or Airbnb rentals, or what we do here at get risk education, help people with long term housing rentals. So it just kind of comes back to the fact that, you know, people's mind is closed off, and they just simply want to believe that money is a scarce resource.   Garrett Gunderson  23:57 They're adding to computer screens as we talk about this, you know, I mean, there's never been more money in the world than there is today. It's the most money there's ever been. We keep adding it. There's, you know, so much of it out there. But even if they stopped printing it, or they stopped adding it to balance sheets, there's an infinite number of times they can exchange hands. So if we use it to buy computers and clothes or food and shelter or entertainment like comedy and concerts, the more times money exchanges hands, the more values created. It's exchange that facilitates and creates wealth in the way that we create exchanges, serving others, solving problems and adding value. And here's the deal, we can have two parties do exchange with one another and both end up wealthier. It doesn't need to be a win, lose transaction. As a matter of fact, when people transact, they agree that what they bought was worth more than their money, or if they sold it, they agree that the money was more than what they sold. Otherwise they would have kept it. We don't do equal exchange. I wouldn't give you $1 for $1 right? There's no reason to exchange. It's unequal, which means, if you can provide something more efficiently than. I can for myself. I can pay you, which frees up my time to do what I most efficiently and effectively can do. I did triathlons because I was an idiot back in the day. Sorry for those triathletes, which is like a lot of work, man. And I don't love swimming, but I remember going to buy a triathlon bike. I just bought, like, a road bike. It was a big upgrade from having a huffy from Walmart, you know, like, oh, this $4,700 this is a while back, but it was carbon fiber. It was, like, amazing. And I thought, you know, I could never build this. So this $4,700 is actually really cheap, because I'm giving him $4,700 to build something that I can then go build something like write a book or do some consulting or do a speech that can inspire someone. And so that exchange was valuable. It's like if you bought killing cigarette cows. For me, you're saying that it was worth more than $20 I'm saying it was worth less because I already have the knowledge in my head, and so we both can end up wealthier. Unequal exchange is what facilitates wealth. What it lets us do is tap into our best abilities and tap into other people's best abilities. And that exchange ends up growing over time, and the more times money circulates because of Good Services and experiences, the more output there is. So look at today. Hundreds of years ago, if you wanted to listen to music, you had to hire a quartet. Now it's free for almost anyone, if you have any device of any sort, if you're willing to listen to a commercial here or there, you can listen to anything that you want. For the most part, you don't even have to pay for it. So think about that advancement. If you want to be anywhere in the world, you could be there in almost 24 hours or less, back in the day, that would have taken, you know, years for that matter. I mean, we have so much more wealth because we keep building upon previous wealth, previous ideas, and those blueprints we continue to grow from with new innovation and ingenuity. Therefore, the quality of life for someone that's middle class today is infinitely more than the middle class of hundreds of years ago, the amount of people that are hungry today versus years ago, even though we have more than 8 billion people on the planet, has gone down as a percentage, not up as a percentage. That's because of velocity and exchange. It's because of this notion that money's not scarce and resources have the way to be replenished, as long as we're stewards. Now, if the bison, if we kill too many of them, then they can't replenish, right? But if we manage that properly, you could actually eat the bison, use the skins, do all that kind of stuff, and still have that exist in the future. These people that don't believe in that believe that there's like a finite pie, that if one thing's gone, it's gone forever, not understanding value exchange, reproduction, apparently, and basic science either. And again, we can overdo those things and damage an ecosystem. So there is a balance.   Keith Weinhold  27:36 Yeah, that's right, when you talk about value creation, then you're really not talking about a person going out and trying to get their piece of the pie. Really more accurately what you're talking about. Here are ideas for expanding the entire pie.   Garrett Gunderson  27:51 Spam the pie. Expand your means you can budget and reduce. You said it eloquently. You said, Hey, there's only so much you can do in reduction of expenses before it just starts infringing and taking away from things that you value in life. There's a finite game there, but the expansion gain through co creation, through collaboration, instead of through competition, is absolutely an infinite pie that continues to grow as we add more value, as we serve more people, as we solve bigger problems, as we more deeply impact the people that we impact as we reach more people, these are things that can lead to more dollars. So I have this thing called the value equation. It's our mental capital, ideas, knowledge, wisdom, insights, strategies and tools multiplied by our relationship capital, people, networks, organizations, communities, friends, family, mentors, equals our financial capital. So financial capital is a byproduct of our stewardship of our mental and relationship capital. And the bridge between mental relationship capital is what we call business, or we call investing. So ultimately, Money Follows value. How do we add more value? Have a better idea. Impact more people. More more deeply. Impact the people you currently serve. Collaborate and offer more like it's an infinite pie and an infinite game. If we play it that way.  We're talking with speaker and author Garrett Gunderson, about the mindset of wealth creation. More. We come back with Garrett. I'm your host. Keith Weinhold.   Keith Weinhold  29:01 hey, you can get your mortgage loans at the same place where I get mine at Ridge lending group NMLS, 42056, they've provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start Now while it's on your mind at ridgelendinggroup.com That's ridgelendinggroup.com. Your bank is getting rich off of you. The national average bank account pays less than 1% on your savings if your money isn't making 4% Percent, you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work. With minimum risk, your cash generates up to an 8% return with compound interest, year in and year out. Instead of earning less than 1% sitting in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor too. Earn 8% hundreds of others are text family 266, 866, learn more about freedom. Family investments, liquidity fund, on your journey to financial freedom through passive income. Text, family 266, 866,   Hal Elrod  30:54 this is Hal Elrod author of The Miracle Morning and listen to get it rich. Education with Keith Weinhold, and don't quit your Daydream.     Keith Weinhold  31:10 welcome back to get rich education. We're talking with firebrand speaker and author Garrett Gunderson. You can learn more about him at Garrettgunderson.com. Garrett before the break, we were talking about the mindset in opening up one in order to create more wealth over time. Here, a lot of times, one way we talk about that is, don't just get your money to work for you. Get other people's money to work for you. You could actually use other people's money ethically three ways at the same time, in real estate, using the tenant's money for the income stream the government's money for generous tax incentives, and then the bank's money for the leverage, which is actually a greater wealth building force than compound interest. That's one example of how we do that here. But when one has become successful, oftentimes they want to make sure that that's lasting. They want to build a legacy, something that they can carry on. And I know you articulate that through the Rockefeller method. So do you want to tell us more about that?   Garrett Gunderson  32:05 I wrote this book. What would the Rockefellers do back in 2016 this study between really wealthy families versus their wealth lasted, versus wealthy families that decimated it, and the best study was really the Vanderbilt because they had more money than the US Treasury. One the railroad family, yeah, transportation. And you know what? They destroyed that Cornelius died, and then his eldest son doubled the estate nine years and then he died, and that was the last time their estate grew. It started to decrease after that. And 54 years later, the first Vanderbilt died broke, and so the last Vanderbilt family union didn't have any millionaires at it. I know everybody knows about like Vanderbilt University. They donated like, a million dollars to get that started. But, you know, that was pretty inconsequential compared to their overall net worth. But they didn't have a formula or format to create sustainable wealth. They own 10 mansions in in Manhattan. They don't own those anymore. They own the breakers in Rhode Island. The state of Rhode Island owns that now. So they lost this massive amount of wealth where the Rockefellers are just entering their seventh generation of passing on, well, seven generations, wow. And people that worked for the rock bellers, like the executives, they're still passing on, well, for this generation after generation. And most people don't make it past the third generation. And we could look at, you know, people like Walt Disney. We could look at people like JCPenney. We could look at people, you know, like the the Kennedy family and so many others that have used these two things to really create sustainable wealth. Number one is they use trust. The Rockefellers coined the term own nothing and control everything, whether that's a revocable living trust for people who are just starting out and don't have a substantial amount of wealth, or a domestic asset protection trust for those that have a decent amount of wealth, those are the two main popular ones. There are some offshore trusts. It gets onerous and complicated once you go offshore, but it does protect your assets. The second piece is using whole life insurance, so they have this death benefit that's on the insured, and they put that on their heirs, so that every time an heir dies, it replenishes the trust, and potentially even grows it, because there's these threats to the family wealth, there's taxes, there's inflation, there's interest rate fluctuations or market, you know, economic turmoil. So what they're doing is they're creating that level of stability, and they give them preferred interest rates to borrow from the trust versus a bank. So now your family can actually earn interest instead of paying interest. And yes, if your family is paying interest, they're paying it back to their future generation at Preferred rates. And so you could be one generation away from never needing a bank again and actually being able to capitalize on deals a whole lot faster. Specifically, we use whole life, because it transfers the risk to the insurance company. There's six or seven companies that are participating, mutual companies that have been around for over 150 years, always paid dividends. It protects your cash value from taxes. It protects it from liability and bankruptcy in over 40 states, fully and partially in every state. So what happens is, for an asset allocation decision. You can start moving some of your fixed income portfolio to this and have a better, more robust benefits type of situation, and then actually start to implement this Rockefeller method so that you can create generational wealth.   Keith Weinhold  35:12 All right, so the Rockefeller method using trusts and whole life insurance to preserve and grow your wealth, so as one's building their portfolio, amassing wealth, increasing income streams as they go along in their investor journey. Is there anything that they should keep in mind as they try to integrate some of these things from the Rockefellers?   Garrett Gunderson  35:12 Yeah, a lot of other insurance people try to sell these index universal life policies, but those won't work because they have too many levers of risk, and especially when you're building cash value, you might use that cash value to buy real estate. Then you might use the rental income to put the money back into the policy so you can buy more real estate in the future. So it becomes like a medium storage shed or unit for your cash that's protected, but now it comes with the death benefit, which, here's one example, for a real estate investor, instead of just, you know, rolling it over to the next property and rolling it over to the next property when you eventually sell, you can use a charitable trust. And a charitable trust, you can donate that highly appreciated piece of real estate, get a partial tax deduction, sell it and fund the trust and pay zero tax on your gains. No matter what your basis is, there's no tax on the gains. You're the first beneficiary of the trust, meaning you can take an income between 5% and 50% from the trust while you're alive, depending on the underlying assets, and then when you die, the charity keeps whatever's left over. But if you have a life insurance policy that will replenish what that donation was, therefore giving you 20 30% or more increased cash flow with an asset by making a synergistic allocation. Now, that's a lot of information in a short period of time, but it's more about planting seeds. And don't worry, I'll give everybody a copy of the book at no charge, so they can kind of read it at their own pace, or you can listen to it at their own pace, versus me condensing it into just a couple minutes.   Keith Weinhold  36:56 Oh, thanks. All right, well, we'll learn more about that resource at the end that sounds like that can be really helpful to a lot of people. And I guess Garrett, even though you're not as real estate ish as me, as we wind down here, you know, I think the place that you and I find the most common ground is we often say and help people with the things that sort of fly in the face of conventional guidance. I mean, you really just don't have to think about it that much more than if you just do normal stuff, average, mediocre stuff, you're only going to have a normal, average, mediocre outcome. So can you tell us about any last things that can help get people thinking differently and debunk some of this conventional guidance that really will never help get you much above lower middle class?   Garrett Gunderson  37:40 Yeah, if you're putting your money in mutual funds and ETFs, you're making a bunch of other people money. I mean, the big three is you want to focus on generating cash flow so you can create financial independence. Because if you have enough cash flow from assets to cover your expenses, every active dollar can build more assets. That's an exponential benefit to you. So now that you don't have to be forced to work, you've got a lot more freedom. And the big three for me are real estate businesses or intellectual property, which is kind of, you know, something that is part of business to a degree, but I consider a different asset class. Those are the big three. I have no money in the stock market. I have money in my businesses. I invest in myself. I invest in my vision. I invest in a team, instead of investing in things that I have no control over and I don't get cash flow from and that the economy can change, or that Wall Street's making money on whether I make money or not. So that's just one notion that I think we could probably, you know, agree, flies in the face of what everybody's teaching. That's the masses. But when you look at the wealthiest people, it's how they're implementing and what they're doing.   Keith Weinhold  38:39 And I think another place that conventional guidance really tells people to prioritize is paying down debt or paying off debt. I mean, making your debt free scream at age 34 you know, maybe that's not so bad, but maybe not. I mean, did paying down low to moderate interest rate debt and making that priority sacrifice your lifestyle and your family's lifestyle the entire time while you were doing it, and did it have a steeper opportunity cost, because you were not investing those dollars in things that can earn a greater return than their interest rates were they're using some of the vehicles that you talked about. So, you know, I guess what I'm getting at Garrett philosophically, one way I said it, is that the risk of delayed gratification is denied gratification?   Garrett Gunderson  39:23 Yeah, I mean, if we become sacrifice, how do we ever overcome that habit? I'm I'm scrimping, I'm sacrificing, yeah, I'm deferring. And then one day, what you're supposed to flip the switch be like, Okay, now I'm abundant. I'm gonna enjoy this money that doesn't happen. So that habitual notion of reduce, cut, eliminate, no one shrinks their way to wealth. It's a game of expansion and production. Yes, be efficient, be intelligent, be a steward, but don't become a miser, because misers, no matter how much money they have, never get to feel what it's like to live their richest life. It's always about elimination. Instead of enjoyment and utilization.   Keith Weinhold  40:02 Oh, that is just beautifully stated. I really can't say it any better than that, and that really brings it back full circle as to the best personal finance is probably growing your means rather than practicing living below your means for decades, and then you'll never get that time back. Well, Garrett, you've generated so many good educational resources. Why you've been the successful author and speaker. Tell us more about that.   Garrett Gunderson  40:26 Garrettgunderson.com is where a lot of those resources are. I write a blog like it's 2006 because I love to write and just get information out there. I've created a money persona quiz. So if you go forward slash tools on Garrettgunderson.com you can figure out what's the success or sabotage that happens subconsciously with how you deal with money. It's very informative and useful. I've written 10 books. I offered that if people DM me on Instagram, Garrett B, Gunderson, two R's, two T's, middle initial B and just say, Keith, get rich. Keith get rich. So I know it was on this program, I'll hook you up with the audio and a PDF of the book on me, so that you can hopefully just understand this Rockefeller method and improve your life and start building a legacy right now. Because if you're already doing real estate, that's great, let's make sure to preserve, protect and even perpetuate that wealth with some of the structures that could be integrated.   Keith Weinhold  41:17 Well Garrett, yeah, you have a lot of great resources and just a really wide spectrum of understanding of concepts all across a personal finance field. Is there any last thing you'd like to let our audience know about?   Garrett Gunderson  41:28 Just create the life you don't want to retire from. Design a life that you love. Create enough cash flow from assets to have that economic independence so you have choice and freedom daily of what you do and swing for the fences in that purpose, you know, that's probably the best advice that I could give.   Keith Weinhold  41:43 Why would you want to live your life any other way? Garrett Gunderson, it's been valuable as expected. Thanks so much for coming on to the show.   Garrett Gunderson  41:51 Thanks for having me.   Keith Weinhold  41:58 Yeah, a lot on both mindset and long term wealth preservation with Garrett Gunderson today, now, 15 weeks ago, on episode 507 you'll remember that episode called compound interest is weak, where I made a takedown about how compound Interest actually is not serving people. Leverage does serve people. Garrett also makes a takedown and critiques this myth about how people think compound interest builds wealth. A little review. There some comprehension from 15 weeks ago, compound interest has most people counting on the average annual return when they should be focused on the compound annual growth rate. A little review. Remember the average annual return means if you're up 10% one year and then down 10% next year that you broke even. That's the arithmetic thing. But that is a lie. The reality is in this CAGR, the compound annual growth rate, it reflects, if you're up 10% one year and then down 10% the next year, you're at minus 1% the geometric thing. And that's the reality, and that makes a retirement lifestyles worth of difference, and a retirement ages worth of difference like I thoroughly broke down for you in episode 507 coming up on the show here in future weeks, a familiar name like Tom wheelwright returns, and then new guests, like a former NFL player here on the show, if you want to reach out to Garrett Gunderson on Instagram for his best free resources, even the audio and pdf of his Rockefeller method of generational wealth preservation, again on Instagram, you can DM him at Garrett B Gunderson, he let me know later, all you have to do is send him my first name, Keith, and he will hook you up there. I'm your host, Keith Weinhold, and I am supremely grateful and even in awe of your devoted listenership for an entire decade of your life and mine, here's to another 10 years. Don't quit your Daydream.   44:21 Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively,   Keith Weinhold  44:49 The preceding program was brought to you by your home for wealth. Building, get rich, education.com, you.

“The only limit to our realization of tomorrow is our doubts of today.” – Franklin D. Roosevelt To create real wealth for yourself, you must first understand the rules of how the money game is played. Garrett Gunderson knows them better than most… Known for his unique approach to wealth creation and life design, Garrett is the author of 10 books, including the New York Times bestseller Killing Sacred Cows.  Garrett is an acclaimed speaker who uses entertainment to educate his audience. His comedy special The American Ream (not a typo!) breaks down all the myths about money and covers everything from the stock market and retirement to crypto-currency. When he's not writing or speaking, Garrett runs Cash Cabin immersions where he helps people build their Family Office, Family Constitution, and teaches them how to create their richest life. In this episode: • How to turn a poverty cycle into generational wealth. • The biggest mistakes people make with their money. • Why discovering your own value is the ultimate foundation. • How to create your richest life. Let's WIN THE DAY with Garrett Gunderson!_

Welcome to this episode, where hosts Greg and Rachel Denning dive into a crucial and timely discussion: Why are so many people leaving the church? They tackle the often-taboo topic of questioning religious beliefs and practices, emphasizing the importance of examining and challenging these aspects to foster genuine transformation and growth within faith communities. With a keen eye on both the potential for positive change and the shortcomings that sometimes plague churches, the Dennings advocate for a faith journey that prioritizes truth-seeking, open dialogue, and the need to challenge sacred cows. Join Greg and Rachel as they explore how questioning and examining existing religious institutions can lead to meaningful improvements and personal growth. They shed light on the dangers of bureaucratic stagnation, the need for grassroots movements, and the incorporation of diverse ideas into religious practice. Tune in for a thought-provoking conversation that encourages listeners to challenge 'sacred cows', embrace doubt, and strive for a more vibrant and impactful faith experience. RESOURCES: Let us help you in your extraordinary family life journey. Get Rachel's ⁠⁠Family Systems & Charts⁠⁠ Join the ⁠⁠28-Day Challenge⁠⁠ for Moms Rachel's ⁠⁠Must-Read Booklist for Well-Read Moms⁠⁠ ⁠Greg's ⁠⁠Recommended Reading List for Parents & Youth⁠⁠ Join the ⁠⁠Be The Man Coaching and Tribe Download the ⁠⁠⁠Be The Man app on iOS⁠⁠⁠ or ⁠⁠⁠Android⁠⁠ Take the ⁠⁠⁠Be The Man 7-Day Challenge.⁠⁠⁠ Follow us on Instagram: ⁠@worldschoolfamily⁠ or ⁠@greg.denning⁠ Gather with us at the ⁠World School Family (Beach & Farm) Resort⁠ in Portugal Read our reviews here: https://podcast.extraordinaryfamilylife.com/reviews/  --- Send in a voice message: https://podcasters.spotify.com/pod/show/extraordinary-family-life/message  #ExtraordinaryFamilyLife #RachelDenning #GregDenning #Growth #ReligiousBeliefs #QuestioningBeliefs #FaithJourneys #ChurchTrends #SpiritualGrowthJourney 

Killing Sacred Cows. Pastor Kurt Owen says some things on today's episode that drive the nails in the coffin of some truly sacred cows. Don't miss today's episode of Fight To Win with Pastor Kurt Owen.Request the Free Offer:https://www.fighttowin.tv/Learn More, Register for Events & Donate:https://www.kurtowen.com/Prefer to Watch the Video?https://youtu.be/TaMYmJc3y-MBecome a supporter of this podcasthttps://www.spreaker.com/podcast/fight-to-win-tv-with-kurt-owen--5638799/support.

Clayton Heller became a land investor out of necessity. This was never a side hustle for him. In 2022 his wife's company went under the day before Thanksgiving- a company that paid the bills as he was building a multifamily real estate portfolio in Pittsburgh. And as he approached one of the most important years of their lives- having to pay for their wedding, honeymoon, a new house, and daily life and a newly purchased vacation rental property with a huge overhead staring them in the face, he had to make lots of money, very fast. Through land investing he was able to “build the plane on the way down”, as he and his wife were plummeting toward what seemed like inevitable bankruptcy. He was able to pay for his life, and more - and set his family up for financial stability. Realizing financial stability and ultimately - financial freedom, is possible through land investing. Summary In this episode, Doug interviews Clay Hepler, a successful land investor and entrepreneur. Clay shares his experience of becoming a father while running a business and the unique challenges and joys that come with it. He emphasizes the importance of being present and prioritizing the highest value tasks in business. Clay also discusses his journey in land investing and the mindset shift required to achieve success. He recommends books like '80/20' by Richard Koch, 'Meditations' by Marcus Aurelius, and 'Killing Sacred Cows' by Garrett Gunderson. Clay offers a free land investing newsletter and plans to launch a course in the future. Keywords land investing, entrepreneurship, fatherhood, presence, prioritization, success, mindset, books, newsletter Takeaways Being a father and an entrepreneur requires balancing ambitions and priorities. Success is about choosing your win and focusing on the highest value tasks. Actions define who you are more than thoughts or words. Investing in yourself and having a supportive partner are keys to success. Recommended books: '80/20' by Richard Koch, 'Meditations' by Marcus Aurelius, and 'Killing Sacred Cows' by Garrett Gunderson. Titles Actions Define Who You Are Recommended Books for Success Sound Bites "Being a father and an entrepreneur is this really unique friction." "Sometimes in order to scale, you have to do it better. You have to be more present. You have to do it cleaner." "The person that you choose as your partner is the single most important decision in your life." Chapters 00:00 - Introduction and Background 02:38 - The Unique Friction of Being a Father and an Entrepreneur 04:21 - Choosing Your Win and Focusing on High-Value Tasks 09:16 - Actions Define Who You Are 16:28 - Investing in Yourself and Having a Supportive Partner 38:42 - Conclusion and How to Connect with Clay DOUG CLARK Doug Clark is a husband of one, father of six, real estate investor, who is passionate about growth and living life to the fullest! His main goal is to create the life of his dreams and live it on his own terms. He intends on helping as many people as possible to realize this worthy goal for themselves as well. Reach out to him anytime to connect for any reason and you never know he may just have the answer you are looking for! His passions range from his family to being a Christian to studying and implementing success principles, technology, skateboarding, music, and martial arts to name just a few. https://www.linkedin.com/in/douglas-clark-a13a68191/ https://www.facebook.com/doug.clark.3785373 https://www.instagram.com/thedouglasbrianclark/

Scott Allan shares his journey of personal growth and transformation, from a lifestyle of partying and drinking to becoming an author and entrepreneur in Japan. He emphasizes the importance of making a decision and taking action towards your goals, even in the face of resistance and setbacks. Luck is not just a matter of chance, but a result of putting in the work and being prepared for opportunities. In this conversation, Scott Allan and Shiva Dhana discuss the importance of having a plan for your life and taking action to achieve your goals. Scott shares his experiences of traveling and the importance of looking back at your achievements to gain perspective. The conversation concludes with the idea that if you don't have a plan for your life, someone else does. Key Takeaways - Making a decision and taking action is crucial for personal growth and transformation. - Luck is not just a matter of chance, but a result of putting in the work and being prepared for opportunities. - Having mentors, learning from books and podcasts, and continuously progressing towards personal development are important for success. - Clarity and breaking down goals into small steps can help overcome procrastination and resistance. Having a plan for your life is crucial, as it allows you to take control of your destiny. - Looking back at your achievements can provide perspective and motivation to keep moving forward. - Goals and projects are different, with goals being the broader vision and projects being the specific actions to achieve those goals. - Visualization through vision boards or other methods can help clarify and manifest your goals. - Developing a growth mindset is essential for personal growth and success. - Taking small steps and building momentum is key to achieving your goals. - If you don't have a plan for your life, someone else does. Noteworthy Quotes   1. "What I found is that once I started to clean things up, and I got some help from some mentors, they got me doing things like writing out my goals and things like that. I'd never really done those kinds of things before." - Scott Allan (03:22) 2. "I think luck is some sort of formula, whatever that may be, but it requires you to put in the work behind the scenes that I don't think many people see day to day." - Shiva Dhanasekar (10:58) 3. "If you don't have a plan for your life, somebody else does. And when I first heard that, it bothered me because I realized I wanted to take control of my destiny." - Scott Allan (35:36) Names, Materials, and Info Dropped in this Ep. - People: Jim Rohn, Tony Robbins, Michael Jordan and Malcolm Gladwell - Books: "Awaken the Giant Within" by Tony Robbins, "Killing Sacred Cows", "The Psychology of Money" - Previous Episodes: Episode 5 Chapters   00:00 Introduction 03:51 Having a Vision 08:40 Realizing What You Want 20:59 Taking Small Steps 22:48 The Power of a Plan 23:27 Reflecting on Achievements 25:06 Goals vs. Projects 26:02 The Impact of Visualization 28:16 A Growth Mindset for Success 31:45 Taking Small Steps 35:36 If You Don't Have a Plan… My Information Podcast Link Page: http://www.solo.to/shivadhana ⁠Instagram: http://www.instagram.com/@shivadhana⁠⁠⁠⁠⁠ Email: shivadhana@dhanastudios.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Click Here for My YouTube Channel⁠⁠⁠⁠⁠⁠⁠⁠: https://youtube.com/@theshivadhana⁠⁠⁠ Click Here to Review Me on Apple⁠⁠⁠: https://podcasts.apple.com/us/podcast/learn-or-be-learned/id1542793500⁠⁠⁠ Click Here for Show Notes, Tips & More⁠⁠⁠: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/learn-or-be-learned⁠⁠⁠ Share a link to my podcast: https://www.solo.to/shivadhana Thank you so much for listening, and I hope this time you invested with me provided you with fruitful returns.   Remember Friends, "You either learn from or you're learned from!"   - Shiva D.

Killing Sacred Cows. Pastor Kurt Owen says some things on today's episode that drive the nails in the coffin of some truly sacred cows. Don't miss today's episode of Fight To Win with Pastor Kurt Owen.Request the Free Offer:https://www.fighttowin.tv/Learn More, Register for Events & Donate:https://www.kurtowen.com/Prefer to Watch the Video?https://youtu.be/TaMYmJc3y-MBecome a supporter of this podcasthttps://www.spreaker.com/podcast/fight-to-win-tv-with-kurt-owen--5638799/support.

Join us in this insightful episode of "Passive Investing from Left Field" where our host Jim Pfeifer sits down with Garrett Gunderson, an author and financial philosopher, to dismantle the scarcity mindset and explore how adopting an abundance mentality can lead to wealth creation. Dive into discussions on innovative wealth strategies, real estate investments, and the profound impact of thinking beyond traditional financial myths. Don't miss out on this transformative conversation!  About Garrett Gunderson Garrett Gunderson is the author of ten books, including multiple Wall Street Journal bestsellers, with Killing Sacred Cows hitting number 1 and making the New York Times Best Sellers list.This book, originally titled “What Would the Rockefellers Do?” has been consistently among the top 5 titles in Amazon's Wealth Management category since its publication.Garrett is a speaker who uses entertainment to educate and is also a stand-up comedian. Garrett's comedy special, the American Ream, produced by Emmy-winner Marty Callner, breaks down all the myths about money through an original stand-up show he performs for corporate events.Garrett enjoys time at his cabin, especially one-on-one through “Cash Cabin” immersions with clients where he builds their Family Office, Family Constitution, and teaches them how to create their richest life.You can follow his blog (like it's 2006) at GarrettGunderson.com/musings or watch videos and interact with him on Instagram @garrettbgunderson   Here are some power takeaways from today's conversation:01:42 His real estate journey05:48 How did he get started as a teenager?10:33 Abundance mindset vs. scarcity mindset13:30 Why cash flow?17:30 Acceleration velocity and building cashflow23:01 Cashflow opportunities26:10 Finding passive cashflow opportunities30:33 Whole life insurance34:02 Stand up comedian 36:32 Podcast recommendation37:58 Contact Garrett  This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.       Resources Mentioned:Rewatchables: https://www.theringer.com/the-rewatchablesTosh Show:  @toshshow  Joe Rogan: https://www.joerogan.com/Contact the guest:Tiktok: garrettgunderson_ Instagram: garrettbgunderson Facebook:https://www.facebook.com/garrettbgunderson YouTube:  garrett.live Advertising Partners:Left Field Investors:https://www.leftfieldinvestors.com/Rust Belt Capitalhttps://rustbeltcapital.com/Tribevest: https://www.tribevest.com/Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/s/

Do you want to be rich? Most people would say yes. But how do you build wealth when you do not come from money? How can you live a purposeful, passionate, and prosperous life?Let's hear from a “financial genius” who was not born into a wealthy family, yet he understands the essence of investing and creating wealth. What does he know that many people don't?Tune into today's episode with Russ, Joey, and their guest, Garrett Gunderson, for an entertaining yet informative conversation about money and investing. Top three things you will learn: -Investing vs. Speculating-Three things to consider when choosing an investment opportunity-Why some people still believe in Wall Street as a way to build wealthAbout Our Guest:Garrett Gunderson is the founder of an Inc. 500 firm and the author of the New York Times bestseller Killing Sacred Cows. He has written several other books, including a children's financial literacy book.Garrett is called a “financial genius” in entrepreneurial circles but wasn't born with a silver spoon. In fact, Garrett's blue-collar roots are what makes him so passionate about helping entrepreneurs build financial freedom.When he's not traveling, speaking, or spending time with his family, Garrett enjoys CrossFit, eats Paleo, and makes people laugh at local standup comedy clubs.Connect with Garrett Gunderson:-Website - https://wealthwithoutwallstreet.com/garrettFree Financial Strategy Call: https://go.wealthwithoutwallstreet.com/free-financial-callApply to Join the Passive Income Mastermind:https://wealthwithoutwallstreet.com/wwws-passive-income-mastermindJoin the Community:https://wealthwithoutwallstreet.com/communityTurn Active Income Into Passive Income:https://go.wealthwithoutwallstreet.com/pios Take the Financial Freedom Analyzer:https://wealthwithoutwallstreet.com/quizDiscover Your Path to Financial Freedom: https://wealthwithoutwallstreet.com/passportKnow Your Investor DNA:https://go.wealthwithoutwallstreet.com/investordnaInvest with The Land Geek:https://www.thelandgeek.com/Invest with Your Friends and Family:https://www.tribevest.com/wwws

You could be leaking money—and not even know it.    My guest Garrett Gunderson says the old way of saving money, investing, and growing your retirement account is gone. Instead, he says you need a radically different approach to create the future you want.    Garrett specializes in helping people keep more of what they make. He does this by helping you find cash that is rightfully yours without working harder to plug the financial leaks in your life.   Garrett is a multiple time Wall Street Journal and New York Times bestselling author of several books including Killing Sacred Cows and Money Unmasked.    Today, Garrett shares why 95% of people are not financially independent when they turn to age 65. And what you should do if you want to be in the other 5%. Plus, Garrett shares why you might be giving free money to the government that is rightfully yours. And why you should plan to spend money on yourself and stop feeling guilty about it.    Get Garrett's new book HERE.   Connect with Garrett HERE.    Get access to Simple Teen Success HERE.   Order your copy of the USA Today and Wall Street Journal bestselling book Good Money Revolution here: https://amzn.to/34hSonE   Book Derrick to speak at your next event HERE. For daily tips to help you make and save money, follow us on Instagram @derricktkinney

Kim Butler chats with Garrett Gunderson, they talk about his ongoing book projects including revised versions of "Killing Sacred Cows'' and "What Would the Rockefellers do," and his children's book "I am Money". They delve into the importance of adaptive learning and self-care, illustrating how treating oneself as the greatest asset can lead to better productivity and generosity.  In another segment, Butler shares her views on the perception of work, resilience, failure, and retirement. She argues that work should be enjoyable, and recovery from failure is crucial for growth. Significantly, she introduces her book "Prosperity Pets," a unique approach to teach kids about money using interactive methods.  Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.com and we may answer it in an upcoming episode.   Links and Resources from this Episode For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/ https://garrettgunderson.com/ https://www.linkedin.com/in/garrett-gunderson-651359b3  Show Notes Garrett's writing projects, focusing on updating his previous books The notable changes since his books were published, like the rise of cryptocurrencies His experience of writing a children's book and a chance meeting with a successful children's book author on a flight The importance of investing in oneself and teaching this concept to the younger generation through children's books The impact of children's education on their understanding of financial management The metaphorical representation of pets in their children's book, "The Prosperity Pets" The underlying message of Kim's children's book, Prosperity Pets, which is about prosperity, thinking and serving others The potential of learning from children's books as adults, especially in fostering an open-minded mindset The hope that the children's book could reach an audience that may not be reading their other books, thus spreading the concept of prosperity thinking Special Listener Gift Free eBook: Activating Your Prosperity Guide. Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes RSS

Killing Sacred Cows. Pastor Kurt Owen says some things on today's episode that drive the nails in the coffin of some truly sacred cows. Don't miss today's episode of Fight To Win with Pastor Kurt Owen.Request the Free Offer:https://www.fighttowin.tv/Learn More, Register for Events & Donate:https://www.kurtowen.com/Prefer to Watch the Video?https://youtu.be/TaMYmJc3y-M

Killing Sacred Cows. Pastor Kurt Owen says some things on today's episode that drive the nails in the coffin of some truly sacred cows. Don't miss today's episode of Fight To Win with Pastor Kurt Owen.Request the Free Offer:https://www.fighttowin.tv/Learn More, Register for Events & Donate:https://www.kurtowen.com/Prefer to Watch the Video?https://youtu.be/TaMYmJc3y-M

And this episode is special, and deserves a special introduction, taken from his latest book, Money Unmasked- Unlearn, Unlock, and Take Back Control of Your Finances and LifeGarrett Gunderson is a modern-day "renaissance man." Well, maybe.Garrett is….-An Inc. 500 founder of a financial firm and amateur barista.-A rookie fly fisherman and Wall Street Journal #1 best-selling author. Those books include but are not limited to Killing Sacred Cows, Disrupting Sacred Cows, and Money Unmasked, which was released in Oct 2023.-A public speaker who's delivered hundreds of keynotes, and a mediocre guitar player at home.-A bow hunter, Trager grill semi-pro (more semi than pro), former CrossFitter (emphasis on the former) and a whisky sommelier, which is real and just as douchy as it sounds.Garrett and his lovely family, his wife Carrie, two sons Breck and Roman, and their awesome dog Phoenix, have all become clients and very dear friends of mine, and it is the highest honor to welcome him to Boundless Body Radio!Find Garrett at-https://garrettgunderson.com/YT- @GarrettGundersonTVBlog- https://garrettgunderson.com/musingsFind Boundless Body at- myboundlessbody.com Book a session with us here!

Garrett Gunderson, entrepreneur and financial expert, explains the difference between cash flow and accumulation wealth models. He emphasizes that financially free people think value first, cost second, and economic impact third, while those who are not focused on price and price alone. In this episode, Garrett shares his story of success and failure regarding money. Garrett recommends investing in oneself to become a value creator and enjoy life. Garrett's books Killing Sacred Cows and Money Unmasked advise identifying your financial DNA and creating cash flow. Listen to this conversation for advice on managing cash flow, reducing risk, investing intelligently, and creating stability and financial freedom.     [00:00 - 07:01] Opening Segment • Financial freedom is a state of mind and being • Cashflow investing over accumulation is critical to creating financial and economic independence • In his book "Killing Sacred Cows," Garret explains the failings of the accumulation model • Garrett's new book "Money Unmasked" helps identify financial and money DNA   [07:01 - 13:46] Create Cashflow and Achieve Financial Independence with the Five-Step Framework • It takes money to make money, but high risk does not always equal high return. • Invest in infrastructure or marketing to scale business revenue. • Invest back into yourself and your skillsets to become a better investor. • Think about how to keep as much as you make without cutting back and turning assets into cashflow machines.   [13:46 - 20:32] Unlocking Financial Freedom: How to Identify High Leverage Opportunities in Business • There is a distinction between financial independence and financial freedom. • Financial freedom is when money is no longer the primary reason or excuse to do something. • Use the cycle of creation to improve product and listen to customers.   [20:32 - 27:45] Closing Segment: • Best investment: 400% annualized return on $25,000 house investment • Worst investment: 45% owner of 45,000 square foot building • Most important lesson learned: The power of having a due diligence team to ensure the success of any deal.   Quotes:   "Risk means the chance of losing. So how does increasing our chance of losing actually help us win? It doesn't." - Garret Gunderson   "If you don't have the mental capital ideas, knowledge, wisdom insight, strategies and tools, and the right relationship capital people networks, organizations mentors friends, and family you don't have a business you have speculation, and people leverage money before they leverage mental and relationship capital." - Garret Gunderson   Apply to Invest with Taylor at www.investwithtaylor.com   Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com   Please leave a review and help others escape Wall Street and build wealth on Main Street!

Garrett Gunderson is the author of nine books, including multiple Wall Street Journal best-sellers, with Killing Sacred Cows hitting number 1 and making the New York Times Best Sellers list. His book, What Would the Rockefellers Do?, has been consistently among the top 5 titles in Amazon's Wealth Management category since its publication. Garrett is a speaker who uses entertainment to educate and his theatrical keynote illustrates the principles in his most recent book, Money Unmasked, using humor, storytelling, and music. Garrett's comedy special, The American Ream, produced by Emmy-winner Marty Callner, breaks down all the myths about money through an original stand-up show he performs for corporate events. Garrett enjoys time at his cabin, especially one-on-one immersions with clients where he teaches them how to create their richest life. Learn more at https://garrettgunderson.com/

In this BetterWealth Podcast, Caleb interviews Garrett Gunderson about his brand new book, Money Unmasked, a book that teaches the reader how to Unlearn, Unlock, and Take Back Control of their Finances and Life.Garrett Gunderson is the author of nine books, including multiple Wall Street Journal best-sellers, with Killing Sacred Cows hitting number 1 and making the New York Times Best Sellers list. His book, What Would the Rockefeller's Do? has been consistently among the top 5 titles in Amazon's Wealth Management category since its publication.Money Unmasked Book - https://moneyunmasked.com/ Money Persona Quiz - https://go2.bucketquizzes.com/sf/6b86f063Email BetterWealth: https://bttr.ly/info WEBSITE: https://betterwealth.com______________________________________________ DISCLAIMER: https://bttr.ly/aapolicy*This video is for entertainment purposes only and is not financial or legal advice.Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.Affiliate Disclosure: Some of the links on this channel and in video descriptions are affiliate links. At no additional cost to you, we receive a commission if a purchase is made after clicking the link.

Are you ready to unmask your money and take control of your financial destiny? Well, in this episode of the Happy Hustle Podcast, we're diving deep into the world of wealth-building with none other than Mr. Garrett Gunderson. Garret is the author of nine books, including multiple Wall Street Journal best-sellers, with Killing Sacred Cows hitting number 1 and making the New York Times Best Sellers list. But that's not all – he's a serial entrepreneur, a comedian, and most importantly, a Happy Hustler.Garrett has a brand-new book that's making waves, and it's called "Money Unmasked." This book is a game-changer, my friends. It's all about helping you unlearn, unlock, and take back control of your finances and your life.What's really cool about "Money Unmasked" is that Garrett discussed the world of money personas. He's identified these four personas - the winning ones and the shadow ones. We're talking about those money personalities that we've all had at some point in our lives.Now, if you're as excited as I am about all of this, I've got some great news for you. You absolutely need to get your hands on Garrett's book, "Money Unmasked." Head on over to moneyunmasked.com to grab your copy. And here's the kicker – when you purchase the book and submit your receipt, you'll unlock a treasure trove of bonuses.I'm talking over $500 worth of bonuses, folks! These bonuses are designed to supercharge your financial journey and help you lead a more abundant, fulfilling life. Garrett lays it all out in the episode, so be sure to check it out.So, if you're ready to make more money, put the "Happy" back in your Hustle, and truly live a life of abundance, Garrett is your guy. Don't miss this episode, and definitely don't miss out on those amazing book bonuses.In this episode, we cover: [00:07:38:24]Money Unmasked[00:26:26:24] The WIN is in the Work[00:28:01:08] Create a Game You Wanna Play[00:29:35:12] Money Is Not the Only Currency[00:37:38:25] Happy Hustle Hacks [Health, Money, Entrepreneurship, Spirituality]What does Happy Hustlin mean to you? Garret says doing the things that you love to do that other people might consider a hustle, but it's just an expression of who you are.Connect with Garrethttps:// https://www.instagram.com/garrettbgunderson/https://www.facebook.com/garrettbgundersonhttps://www.youtube.com/@GarrettGundersonTVFind Garret on his website: https://garrettgunderson.com/ Connect with Cary!https://www.instagram.com/cary__jack/https://www.facebook.com/SirCaryJackhttps://www.linkedin.com/in/cary-jack-kendzior/https://twitter.com/thehappyhustlehttps://www.youtube.com/channel/UCFDNsD59tLxv2JfEuSsNMOQ/featuredGet a free copy of his new book, The Happy Hustle, 10 Alignments to Avoid Burnout & Achieve Blissful Balance https://www.thehappyhustlebook.com/Sign up for The Journey: 10 Days To Become a Happy Hustler Online Course http://www.thehappyhustle.com/JourneyApply to the Montana Mastermind Epic Camping Adventure https://caryjack.com/montana“It's time to Happy Hustle, a blissfully balanced life you love, full of passion, purpose, and positive impact!”Episode sponsor Are you tired of lying awake at night, burdened by endless thoughts and worries about your upcoming day? The lack of quality sleep not only drains your energy levels but also affects your overall productivity and well-being. But fear not, because we have the perfect solution for you: Magnesium Breakthrough!Magnesium Breakthrough is the ultimate game changer when it comes to solving sleep problems. Designed to help you wind down after a stressful day, this revolutionary supplement will transform your sleep experience from restless tossing and turning to the most relaxing slumber you've ever had. Say goodbye to waking up groggy and hello to vibrant energy levels throughout the day!What sets Magnesium Breakthrough apart from other magnesium supplements is its unparalleled effectiveness. Unlike traditional options that only contain 1-2 forms of magnesium, Magnesium Breakthrough combines all 7 key forms of magnesium. This unique blend ensures that you have a relaxed response to stressful situations, allowing you to face each day with a calm and collected mindset.Don't let sleepless nights and low energy levels hold you back from living your best life. Experience the remarkable benefits of Magnesium Breakthrough and regain control over your sleep and energy. Your body and mind deserve it!But that's not all – we have an exclusive offer just for you, our valued listeners! Visit magnesiumbreakthrough.com/hustle today and use the promo code "hustle" during checkout to save 10 percent on your purchase. It's time to invest in your well-being and embrace the most restful sleep you've ever had.Say goodbye to sleepless nights and hello to energized days with Magnesium Breakthrough. Your path to a revitalized life starts now!

Garrett Gunderson is a NYT best selling author and the funniest financial speaker you may or may not have heard of. The son of a Utah coal-miners, Garrett wants to teach others how to become financially independent and have a laugh along the way. He has written several money books, including Disrupting Sacred Cows, Killing Sacred Cows, and What Would Billionaires Do? among others. His new book Money Unmasked comes out next month.  We talk hair, comedy, good parenting, growing up half-Mormon, half-Catholic, frugal v. cheap, “financial dick pics," pre-2008 Arrogance, driving a Bentley, the power of laughter, the dirty word his grandmother loved, and what he learned from the death of his business partners. As you'll hear, Garrett andI have a lot in common, so this is a bit of a sprawling and sometimes “inside baseball” conversation about money and comedy. Speaking of which, his comedy special The American Ream will be out soon.  Learn more about Garrett on his website and Pre-order the new book on Amazon here. ⭐ Rate and Review Crazy Money here. (Seriously, do it!)⭐  ✍️ Get Paul's writing to your Inbox here. (Seriously, do this also!) ✍️

In this episode of the BetterWealth Podcast I had the pleasure of joining Garrett Gunderson in the Wealth Lab studio to discuss all things life insurance with a special focus on properly structured whole life insurance. How should the policy be designed, what are the pros and cons of this type of insurance, and how does it compare to IUL, UL, and term life insurance? Our guest today is Garrett Gunderson, the New York Times bestselling author of, What Would The Rockefellers Do, and Killing Sacred Cows. Garrett is a wealth expert and has extensive knowledge of the life insurance industry and how to utilize whole life as an asset to amplify your portfolio. Learn More About Overfunded Whole Life Insurance - https://bttr.ly/vault Check out Garrett's Youtube channel - @GarrettGundersonTV #BetterWealth Free 15 Minute Clarity Call: https://bttr.ly/ytclarity The And Asset Book: https://bttr.ly/book BetterWealth Quiz: https://bttr.ly/quiz AndAsset.com: https://bttr.ly/andasset BetterWealth Youtube - https://bttr.ly/bwyoutube Financial Advisor, Agent or Coach: https://bttr.ly/advisor

Killing Sacred Cows. Pastor Kurt Owen says some things on today's episode that drive the nails in the coffin of some truly sacred cows. Don't miss today's episode of Fight To Win with Pastor Kurt Owen.Request the Free Offer:https://www.fighttowin.tv/Learn More, Register for Events & Donate:https://www.kurtowen.com/Prefer to Watch the Video?https://youtu.be/TaMYmJc3y-M

Killing Sacred Cows. Pastor Kurt Owen says some things on today's episode that drive the nails in the coffin of some truly sacred cows. Don't miss today's episode of Fight To Win with Pastor Kurt Owen.Request the Free Offer:https://www.fighttowin.tv/Learn More, Register for Events & Donate:https://www.kurtowen.com/Prefer to Watch the Video?https://youtu.be/TaMYmJc3y-M

Chapter Review of The Finite Pie from the book "Killing Sacred Cows" by Garrett Gunderson and how lessons from this chapter are helpful along life and the reentry journey. If you are a returning citizen, an individual seeking second chance coaching through your reentry journey, or if you are a representative of a business, college or university seeking to integrate and/or support returning citizens in your organizational or learning environments, feel free to contact Dr. Louis at richard@secondchancecoaching.com or via Instagram at thedrrichardlouis Dr. Richard Louis is also available for speaking engagements and workshops related to criminal justice reentry, organizational culture, and leadership development and can be contacted at richard@secondchancecoaching.com Linked In: www.linkedin.com/in/richardlouis Club House: @drrichardlouis Twitter: therichardlouis

Wayne Michell talks about how chambers should consider killing the sacred cows of their organization.  Full show notes are at: chamberchatpodcast.com/episode223 Please support this podcast by supporting our sponsors. Community Matters, Inc. chamberchatpodcast.com/podcast App My Community appmycommunity.com/chamberchat Chamber Nation chambernation.com Yiftee yiftee.com Swypit chamberchatpodcast.com/cc Izzy West, LLC theizzywest.com    

Want tax-free retirement income? Tax-free money in retirement sounds amazing… at first glance. https://www.youtube.com/watch?v=mylXCXThFl0 But before you dive into this strategy, there are three things you need to know about why “Tax-Free Retirement” is a really bad idea. To find out exactly why you shouldn't set up your financial game plan for tax-free retirement… tune in now! Table of contentsSetting FrameworksWhat is Tax-Free Retirement?“Don't Let the Tax Tail Wag the Dog”Retirement is a Concept that Needs FixingHow to Change RetirementSo Why Shouldn't You Do Tax-Free Retirement?Why Tax-Free Income is Not the Best First SolutionLife Insurance is InsuranceBook A Strategy Call Setting Frameworks When you're presented with a certain lens or framework, it's important to step back and consider:  Where is the information coming from? Who does this benefit?  What are the other options? These questions can go a long way in helping you determine whether a strategy is a good fit for you, whether it has merit, and how you should approach it.  The idea of tax-free retirement using whole life insurance is popular. Just the name alone makes it sound amazing. So why wouldn't someone want to implement it? Keeping the above questions in mind, we're going to unpack the nuances of this approach so that you can use that information to better your strategy. What is Tax-Free Retirement? The general idea of tax-free retirement is that you have set up a whole life insurance policy for maximum cash value growth that you can use for retirement income. The strategy suggests that after maximally funding a policy, you can choose to retire and use that cash value for retirement income. You use a certain formula to determine how much you can withdraw each year over a certain timeframe (instead of borrowing against it) without creating a taxable event.  The premise is that by saving into a whole life insurance policy, you can pull an income from your policy without paying taxes. And while this is true, there are certain disadvantages that people don't often consider or discuss.  “Don't Let the Tax Tail Wag the Dog” This concept comes from Garrett Gunderson, author of Killing Sacred Cows.  [14:10] “He talks about how you cannot ever make all of your financial decisions on the basis of, ‘How do I pay the least amount of tax?' If you're just looking at taxes, that's a lens being put in front of your eye [saying], ‘Here's the most important thing.' Really, there's not one most important thing; there's a lot of factors that you need to consider.” When you only make financial decisions out of the fear of paying taxes, you're acting from a place of scarcity. The scarcity mindset doesn't serve you, because it prevents you from seeing other options or strategies that may be even better for you, depending on the purpose of your dollars. If you want to leave a large legacy to your children, but you choose a “tax-free retirement” strategy out of fear, you run the risk of disinheriting your children. This, of course, is not the outcome you want if you're aiming for a legacy. So it's important not to let fear dictate the lens through which you take financial action. Retirement is a Concept that Needs Fixing Let's consider the typical retirement paradigm. Generally, you work from about age 20 or so until you're somewhere between 60 and 70. In all of those working years, you work as hard as possible to make as much as possible. And hopefully, you save as much as possible. Then, when you're ready to retire, you stop working completely and live off of what you've saved. You probably intend to continue living life at the same level of comfort and quality, so you take about the same income that you made when you had a job.  Unfortunately, many people only save about 10-20% of their income. But, they still want to live at 100% of what they're used to. This means retirees are going through their money...

Where do our relationship and understanding of money come from? How has it shaped who we are today and the decisions we make? How does our money mindset impact our practice and our business success? There are just some of the questions that my friend, Garrett Gunderson, and I discussed during our time together. If you're open to a radically new perspective on money and how you can use it to transform yourself personally, you're going to love this interview. Here's some of what we covered: What is money? Where does our money mindset come from? What shapes our relationship with money? How does money affect our relationships? What are other ways to measure success at home and in business aside from money? What are some of the biggest money mistakes small business owners/practitioners make? What inspired you to do standup? Where's a good place for us to invest our time and money? What's more valuable, time or money? What's some business advice you wish you'd gotten when you were just starting? For those of us with children, what are tools you can share with us to shape their money mindset towards abundance? What's a piece of advice that you wish you had taken?   Key Takeaways: [1:02] Sachin welcomes listeners to Perfect Practice. Sachin welcomes and introduces his friend, Garrett Gunderson.   [1:12] Garrett is profoundly intelligent and funny and in this episode, he takes a topic that many of us have challenges with and make it enlightening and entertaining. Sachin welcomes Garrett and introduces him. Garrett turned 44 on the day of this recording!   [3:47] Sachin shares Garrett's bio.   [6:12] Garrett tells about his Spiderman adventure with his two kids in his neighborhood.   [7:11] Garrett has an upcoming book that he has been working on for seven years. It is intended to take you on a journey of engagement to shape how we look at money and finance. Garrett believes it is time for a new conversation around money and this book will start it. The title of the new book is Money Unmasked.   [9:32] Money is a tool of efficiency. It is a snapshot that represents the value you've created up until this time. That could include luck. For most, it represents the energy that you've put out into the world because you've either served someone, solved a problem, or added value. It's not why you're valuable. It does not dictate what you are capable of doing. [10:04] Money doesn't reflect your potential nor determine your destiny but it's a way that we can tap into other people's abilities to be more efficiently connected to what we're doing.   [10:43] Garrett shares his thoughts about investing. We want our investments to grow, but what happens when it's more than we can handle? What if you buy too many pieces of real estate or get involved in too many cryptocurrencies? The less related we are to our investments, the more risk we invite of not being clear about how we deliver value.   [12:01] You connect to people in relationships without money being a determining factor. See each other for the moment that we are in, not for the things we have. We struggle because we think that our value is in our money. People pose that they have more than they do, which creates jealousy and envy.   [13:59] Don't connect your happiness to markets. Make investments in your skillset, and the best essence of your life. Investments can make you long-sighted or short-sighted. Everything in-between is where the joy and fulfillment come in. Garrett could buy real estate, but he only buys real estate that he can utilize. He uses his money intentionally. He never wants to retire.   [19:03] Garrett makes investments in himself as a human being for the connections he can have with other human beings because of that. He doesn't want to invest in mutual funds because he's not connected to them.   [20:24] Garrett asks questions to get to the best understanding of things. When people tell him “it's science,” he asks what studies they are citing and where the science comes from. Better questions lead to better relationships and better learning that doesn't come from the classroom. The classroom does not teach much about money. Garrett talks about the Series 65 test.   [22:47] No one is smarter than you in your soul purpose, in your values, in your abilities, in your passions, where you are at your best. Don't do what everyone else is doing. What everyone is doing hasn't led to sustainability, peace, and prosperity.   [23:35] Why Garrett is contrarian.   [24:45] Garrett tells how his views changed at age 18 when he went with a friend to teach English in South Korea. He found out that people are people, around the world. He learned about propaganda. He started asking different questions to start understanding what governments and financial institutions might do to control people.   [29:23] Garrett's views on money and finance developed when he began an internship selling insurance and mutual funds at age 19. He asked questions about the RRSP and learned about the downsides. He kept asking questions and then wrote Killing Sacred Cows about the nine financial myths people can't detect.   [32:23] We have four money personas. A lot of our money mindset comes from scarcity. Misers hold on to what they have. Conservatives accumulate for the future. Strivers earn more to have more status. High Rollers are addicted to opportunity. They all come from scarcity thinking that there's only so much to go around. It is consumer conditioning. It started with Edward Bernays.   [33:13] Edward Bernays is the father of modern consumerism, which is a zero-sum game and scarcity. Childhood trauma has an effect and if we don't address childhood trauma, we don't mature in our money mindset. Garrett talks about his latest book, Disrupting Sacred Cows.   [34:27] Money affects our relationships. Garrett uses his marriage as an example. Once he and his wife understood their money personas, in 2008, they have not had a financial fight since. In their first year of marriage, they fought about finance over anything else. When we don't understand the money factors that move us, we make bad decisions.   [36:02] Money affects our health. It's a chronic stressor. When we focus on money we are not present or at peace.   [37:09] When people say they cannot afford their healthcare, they mean they are not worthy of it. Ask how you can afford it. Break it down into price, cost, and value. Garrett elaborates. If people don't take care of their health now, they will spend far too much time in hospitals or decrepit. He uses the birth of his son, and a defect he had, as an example.   [40:15] Chapter 7 of Garrett's new book talks about reclaiming time. Time is not money. Energy is money. If you are overworked or depressed, you will be able to deliver less value in the marketplace. Time is a measurement. Garrett explains using time for your soul purpose.   [42:54] In 2006, Garrett lost a business partner, Les McGuire, in a plane crash. For the next four months, he worked more but got less done because he was exhausted, trying to do it all himself. Receive support from other people instead of trying to do everything on your own. People are always willing to help. Sachin offers a recipe for being rich. If we were simply content, most problems would be solved.   [46:13] Garrett reflects on the advice he received but didn't follow from Mike Sloan about ambition. He ended up doing things he didn't want to do and was busier than he wanted to be because he was too ambitious for money. He should have listened to him. His ambitious past behaviors have ramifications in his marriage today.   [48:25] Garrett suggests how we can teach our children about mindset. He is teaching his children about purpose, career, fulfillment, and leisure; things that usually get pushed aside because of money. His oldest son is filming it and making a production, called Schooled. To end each lesson there is a fun purposeful activity to add structure to the teaching.   [51:58] Instead of defaulting to telling your children, “We can't afford this,” ask, “Is it worth it?” Or say, “It's not a priority right now. If you guys want to be a part of it, we might match the earnings.” Words cast spells. A lot of people are under the spell of scarcity and consumption, so break the spell. Garrett has conversations about service to others with his children.   [53:41] Garrett gives his advice for closing out 2022 and moving into 2023. There are millions of problems in this world and they should begin at the end of your driveway, not in your home. Don't get caught up in an economy that's impossible to predict. Focus on yourself. on your self-care, and on how you can serve more people, consistent with who you are.   [55:25] Learn more about Garrett at GarrettGunderson.com. Take the Money Persona Quiz at GarrettGunderson.com/quiz to predict what your bad money behavior might be or look at how to get in a better spot with your qualities. He invites you to come to his comedy shows or buy his books.   [56:28] Sachin thanks Garrett for being on the podcast to share his insights with practitioners. Our money mindset gives us permission to invest in ourselves. Sachin thanks you for tuning in today.   Mentioned in this episode Perfect Practice Live MindShare365 Genius Network Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!, by Robert T. Kiyosaki The Millionaire Next Door: The Surprising Secrets of America's Wealthy, by Thomas J. Stanley and William T. Danko Dave Ramsey's Financial Peace University: This Is Where It All Begins, by Dave Ramsey The Total Money Makeover: A Proven Plan for Financial Fitness, by Dave Ramsey Money Unmasked, by Garrett Gunderson (coming soon)! Series 65 RRSP 401(k) Edward Bernays Bitcoin   A little bit about me, Garrett: I'm a modern-day “renaissance man,” well, maybe. An Inc. 500 founder of a financial firm and amateur barista. A rookie fly fisherman and Wall Street Journal #1 Bestseller. A public speaker who's delivered hundreds of keynotes, and a mediocre guitar player at home. A bow hunter, Traeger grill semi-pro, former cross-fitter (emphasis on the former), and a whisky sommelier, which is real, and just as “douchey” as it sounds. But maybe the best way to know me is from a few notes my wife wrote: A man who can only drink tequila under supervision. A man who will stop at nothing to provide his wife food if she gets HANGRY — self-preservation really. A dad who was totally cool with letting his sons go anywhere with him, in any costume they may have on! (Yeah, a client offered my kids $100 to knock on every door in the neighborhood with the three of us sporting Spider-man costumes saying “the neighborhood is safe.” (My costume was too small, and more Moose Knuckle Man than Spider-man, but hey, that $100 spent the same.) A man who can't fix a toilet, but can help you become financially independent so you can hire someone else to do it for you. A man who supports his wife's meditation, even if she is just sleeping. A brother who bailed his sister out of jail, while almost going to jail himself in the process. A father who loves and adores his sons for exactly who they are. A son that loves his parents with all his heart. A man loyal to his family and friends, but most of all, his values. Here's how you can learn more about Garrett's work: What would the Rockefellers do?: How the Wealthy Get and Stay That Way, and How You Can Toohttps://amzn.to/3AfFSSM Disrupting Sacred Cows: Navigating and Profiting in the New Economy  https://amzn.to/3QEBm5S Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperityhttps://www.amazon.com/Killing-Sacred-Cows-Overcoming-Destroying/dp/1929774516 Here's where you can connect with Garrett: FB: www.fb.com/garrettgunderson IG: @garrettbgunderson Website: www.garrettgunderson.com Money Persona Quiz: www.garrettgunderson.com/quiz   More about your host Sachin Patel How to speak with Sachin Go one step further and Become The Living Proof Perfect Practice Live sachin@becomeproof.com To set up a practice clarity call and opportunity audit   Books by Sachin Patel: Perfect Practice: How to Build a Successful Functional Medical Business, Attract Your Ideal Patients, Serve Your Community, and Get Paid What You're Worth The Motivation Molecule: The Biological Secrets To Eliminate Procrastination, Skyrocket Productivity, and Get Sh!t Done

7/10/22 - Healing is God's Idea Part 4: Killing Sacred Cows - Pastor Jim Baker by Zion Christian Fellowship

M.K. gives quick recaps of the eight books he read in the month of January and the biggest takeaways he had as a result of taking them in. Check out the links below to check them out for yourself! Killing Sacred Cows - https://amzn.to/3NDdbUo Will - https://amzn.to/3xhckSf Rich Dad Poor Dad - https://amzn.to/3MwLvPk Pitch Anything - https://amzn.to/3aRjTrn Nice Racism - https://amzn.to/3MwLZF8 The Money Guide to NFT Investing - https://amzn.to/3aBIwYG The Maladaptive Daydreaming Guide - https://maladaptivedaydreaming.org/ Siddhartha - https://amzn.to/3Q7mUDX --- Support this podcast: https://anchor.fm/getlost-hypnotherapy/support

Being the first full video version available of Stand Up! I decided that we should bring the heat. In this episode we had Garrett B. Gunderson in studio to discuss comedy, his new tour and the creative process for him and his pursuits. Garrett is a legitimate New York Times Best Seller with his 2008 release of Killing Sacred Cows. As a influential force in the wealth creation space, Garrett shifted gears several years ago and went all-in as a standup comedian. All these years later he's competed the nationwide tour "American Ream" and is standing his second tour later this summer. It's an engaging, entertaining conversation. Also, visit BrycePrescottComedy.com for all links related to my comedy, social media and to engage with me. Make sure to follow all my accounts! You curious about my business or wanting to work with me? Visit BrycePrescott.com for the rest! - @BrycePrescott

Being the first full video version available of Stand Up! I decided that we should bring the heat. In this episode we had Garrett B. Gunderson in studio to discuss comedy, his new tour and the creative process for him and his pursuits. Garrett is a legitimate New York Times Best Seller with his 2008 release of Killing Sacred Cows. As a influential force in the wealth creation space, Garrett shifted gears several years ago and went all-in as a standup comedian. All these years later he's competed the nationwide tour "American Ream" and is standing his second tour later this summer. It's an engaging, entertaining conversation. Also, visit BrycePrescottComedy.com for all links related to my comedy, social media and to engage with me. Make sure to follow all my accounts! You curious about my business or wanting to work with me? Visit BrycePrescott.com for the rest! - @BrycePrescott

Most of us are taught that investing our money in Wall Street and waiting 30 years is the key to a profitable retirement. Well, it turns out, 95% of Americans are not financially independent by age 65. If you want to learn what the other 5% are doing, today's guest, Garrett Gunderson can show you the way. For 20+ years, Garrett has helped people keep more of what they make – legally and ethically – by plugging financial leaks and finding cash that is rightfully theirs. He's the author of the New York Times bestseller, Killing Sacred Cows and the Founder of Wealth Factory, which helps entrepreneurs build their wealth and keep it, no matter what happens in the market. In this episode, Garrett shares his advice for navigating a financial future, in a time when our world seems progressively unstable. You'll learn why Wall St. will never make you rich, insurance strategies to preserve and grow your wealth, and the exit deal that allowed Garrett to create ongoing cash flow and achieve time freedom. You'll also hear how Garrett is using standup comedy to help people win the money game and design a life truly worth living. Free Gift Firstly, he's got a free quiz that will allow you to discover your “money persona” that rules every financial decision you make. Secondly, he's giving away downloadable versions of his two most popular books, Killing Sacred Cows and What Would Billioniares Do? To get access to this gift, visit JustinDonald.com/80 Want the Full Show Notes? To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit JustinDonald.com/80 Get the Lifestyle Investor Book! To get access to The Lifestyle Investor: The 10 Commandments of Cashflow Investing for Passive Income and Financial Freedom visit JustinDonald.com/book Rate & Review If you enjoyed today's episode of The Lifestyle Investor, hit the subscribe button on Apple Podcasts, Spotify, Stitcher, Castbox, Google Podcasts, iHeart Radio, or wherever you listen, so future episodes are automatically downloaded directly to your device. You can also help by providing an honest rating & review. Reviews go a long way in helping us build awareness so that we can impact even more people. THANK YOU! Connect with Justin Donald Facebook YouTube Instagram LinkedIn Twitter

BenGreenfieldFitness.com/cows Allow me to introduce you to my friend Garrett Gunderson, the Founder of an Inc. 500 firm, author of the NY Times hit, Killing Sacred Cows and multiple WSJ bestselling books. Garrett Gunderson is called a "financial genius" in entrepreneurial circles, but he wasn't born with a silver spoon. In fact, Garrett's blue-collar roots are what make him so passionate about helping people live a life they love, on their own terms. Garrett comes from a 4th generation coal mining family, raised in rural Utah and his desire to help people is firmly rooted in this history because more often than not there is nothing more distressing for most people than money. So, after spending 20 years in the industry, his approach has shifted. He now takes what he knows best (Money) and has combined it with what he loves most (Comedy) into his new methodology, Win, Then Play. We all have the opportunity not only to WIN but to win bigger, more often and attain what we want. But to do that, we must let go of myths and embrace truth and self expression. If you're ready to transform your life, finances and future, today's guest will help you do just that. It's time we all laugh at money's expense for a change! You'll also hear about my upcoming STANDUP COMEDY gig in Austin, TX. Click or tap here for more info! During our discussion, you'll discover: -Is Garrett a comedian or wealth manager these days?... -Sacred cows in our society that beg to be disrupted... -Tipping the sacred cow of money equaling happiness... -The four persona's that show the disparity between the scarcity vs. abundance mentality... -The hard lessons that brought Garrett to his knees financially speaking... -The value of "protective" expenses... -How to leverage your life insurance policy to become your own bank... -What Garret means when he says, "Win, then play"... -An exclusive sneak peek into Garrett's newest comedy book... Episode sponsors: -Organifi Green Juice -Lucy Nicotine Gum -Kion Aminos -Magnesium Breakthrough -Endure -Ice Barrel Do you have questions, thoughts or feedback for Garrett or me? Leave your comments below and one of us will reply!

Garrett Gunderson is known as the "financial genius" who helps entrepreneurs build Economic Independence. As an entrepreneur, financial advocate, the Founder of Wealth Factory and author of the NY Times bestselling book Killing Sacred Cows, Garrett has dedicated his career to making personal finance simple, immediately actionable and even enjoyable. His company helps entrepreneurs optimize cash flow, streamline their finances and keep more of their hard-earned money so they can make more powerful investments in their business. I wanted to tap into Garrett's genius to uncover the tax strategies that allow entrepreneurs who have reached 7-figures and beyond, to keep more of their wealth. You'll learn about the important players you need on your tax team, and the game-changing tax strategies that are available to those who have hit the $660K net income mark. We also discuss how captive insurance can protect your money, and other creative ways to pay A LOT LESS tax, so you can keep more of your wealth! Key Takeaways with Garrett Gunderson Turning a financial services career into a standup comedy dream. The game-changing tax strategies available to anyone making $660,000+ of net income. Pay WAY less tax with these 4 reclassification tax strategies! The most important people you need on your tax team. Out-of-the-box tax strategies you didn't know were possible. Why defined-benefit plans are the worst idea that's ever been invented in finance. Why it's not always a bad thing to pay more in tax. What is 831b Captive Insurance and how can it protect you? The risk/reward of indexed universal life insurance. Subscribe to the Podcast We hope you enjoy this episode and that you find some golden nuggets within this interview. Trust us, it's there! If you want episodes delivered straight to your inbox, consider subscribing to the show and we'll email you each time a new episode is released! Thanks for tuning it & keep being awesome. BAM!