Anyone paying attention wants to understand how the proposals for tariffs and immigration may impact their finances. The answer is a billion-dollar nugget. If implemented, these proposals will impact everything from the cost of goods to how much money we can save to the solvency of Social Security and Medicare. And while there is no guarantee of what will happen, today we dive into insight to help you create a plan and best prepare for what may lie ahead. Specifically, you will learn what a tariff is, how to prepare for their impact based on your spending patterns, and how immigration reform may also impact you and your family’s financial plan. In this episode, you will learn: >>  (5:51) One of the most searched topics post-election (This is a big one!) >> (6:48) How tariffs work and what they may cost you >> (9:42) Understanding the tariff proposal on imports from Canada & Mexico >> (12:50) Why imports are essential to the U.S. >> (17:18) Which tariffs will impact you and your family, and the potential cost >> (19:47) What China exports to the US (How much more you may pay for their imports!) >> (23:33) Some positive impacts of tariffs >> (33:10) Understanding immigration and what it may cost you and your family If the proposed tariffs and immigration reforms come to fruition, they will impact many aspects of your life, including your spending, savings, and retirement. The best recommendation is to create a flexible plan that you can adjust based on what actually happens. If you start spending less and saving more, you will win regardless of what occurs. Today’s episode will help you and your loved ones create a plan that will help you secure your financial future. Links Referenced in the Show: The Retirement Planning Checklist: https://themillionaireinsider.com/rpc Get your Free Financial Checkup: https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/87 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Holiday spending is one of the main reasons people ruin their money plan. Creating a plan you can execute will dramatically increase your odds of enjoying the holidays and avoiding the overspending frenzy so many people fall prey to. Simple actions are the secret to creating a secure financial future and today you will learn some great tips. Specifically, you will learn ways to spend wisely, minimize expenses, and get creative with your holiday spending plan. In this episode, you will learn: >> (4:44) The first insight to curb overspending >> (7:14) How to save money during the holidays >> (9:30) What to do instead of hosting a family dinner solo >> (11:24) The secret insight to remember during the holidays >> (15:53) What to pay attention to when shopping for gifts >> (16:20) Insider knowledge when it comes time to shop These four tips will help you better manage your holiday spending, so take a minute to schedule planning time in your calendar and execute the ones that will best support you. From the family and friend exchange to the charity idea to the year-long strategy, you have several ideas to help you better manage your money during the holidays and spend less. Today’s episode will help you or your loved ones make better decisions so they can create a secure financial future. Links Referenced in the Show: The Magical Budget Template: https://themillionaireinsider.com/mbt Avoiding Impulse Buys with the 3-Day Rule: https://millionaireseries.com/36 Get your Free Financial Checkup: https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/86 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

The majority of articles regarding the habits of millionaires discuss common habits. Today, you will learn some not-so-common millionaire habits that have dramatically impacted my life and hopefully will help you on your journey. You will also learn habits of millionaires that, in some cases, took me decades to discover, which may surprise you. In this episode, you will learn: >> (3:30) One of the most important habits of millionaires >> (4:37) What to do before it is too late >> (7:15) Health tips that are critical to success >> (9:08) One of the most important actions to operate at peak performance >> (10:52) How your subconscious mind can fast track you to success >> (15:06) What to do to increase your happiness and net worth >> (16:02) Bonus habits, including my favorite books >> (18:34) The biggest difference between millionaires and people without a 7-figure net worth The power of habits is especially important to becoming successful. Developing habits can take time, but today’s episode will help you fast-track your journey.  With the right habits, you will likely improve your wealth, health, and happiness. The habits you will learn today will give you some uncommon actions to help you on your journey! Links Referenced in the Show: The Millionaire Mindset Guide: https://themillionaireinsider.com/smmg The 7 Principles of Becoming a Fulfilled and Wealthy Millionaire: https://millionaireseries.com/7pbook-15 Get your Free Financial Checkup: https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/85 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

It can be hard to save in a retirement account if you make a lot of money. One of my favorite strategies is what I call “The Secret Backdoor Roth IRA.” Today, you will learn what it is, if it makes sense for you or a family member, and how it’s used in retirement planning. My associate and CFP® Oscar Alvarez joins us for this episode. In this episode, you will learn: >> (2:30) Understanding qualified vs non-qualified money >> (3:22) Differences between a traditional IRA and a Roth IRA >> (7:55) The process to convert an IRA to a Roth IRA >> (12:24) How tax brackets impact contributions >> (16:31) The rules you need to follow to ensure you don’t have problems with the IRS >> (18:00) Understanding the five-year rule for IRA and qualified money withdrawals. As a result, you will be prepared to make better decisions regarding your next best step. >> (21:10) Additional factors to consider for a backdoor Roth conversion >> (24:22) The process and how to simplify it Before making any financial decision, always consult a qualified advisor. Before making any change, confirm it aligns with your retirement and estate plan. This will help to ensure a secure financial future for you and your family. If you enjoyed this episode, leave a comment and follow the podcast here! Links Referenced in the Show: The Retirement Planning Checklist: https://themillionaireinsider.com/rpc Get your Free Financial Checkup: https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/84 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Dopamine loops drive our behaviors – good and bad. From eating, working, exercising, drinking, and many more, it’s paramount that you recognize the loops you are caught in and accentuate the positive ones while moderating the negative ones. Today, you will learn how to recognize a dopamine loop, how it impacts your financial decisions, and what you can do to use it for your benefit. Mastering your money dopamine loops will give you better control over your financial future and life. In this episode, you will learn: >> (3:24) Common dopamine hits >> (6:06) The science behind the chemical dopamine and how it impacts you >> (7:50) Understanding the wanting system and how to avoid the pitfalls >> (11:01) How spending money triggers the dopamine loop >> (12:40) Why building wealth can be hard when in a dopamine loop >> (16:42) What Pavlov’s research taught us about behavior >> (20:33) My recommendation on recognizing and managing dopamine hits such as social media triggers >> (24:30) How to process your emotional triggers Unchecked dopamine loops can have devastating consequences in your life and with your money. For this reason, the sooner you recognize and manage them, the better. Today’s episode will help you identify and rewire subconscious loops with your money and life. As a result, you can use these loops to your benefit and enjoy your life more than you would otherwise. Links Referenced in the Show: The Financial Freedom Guide:https://themillionaireinsider.com/ffg Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/83 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Choosing the right money mindset coach or advisor can make all the difference in your journey to financial freedom. With so many different options, it can be overwhelming to determine which plan will best support you. Every situation is different, and finding the right coach or financial advisor may take some time.  Today, you will learn what you need to know and consider so you can hire the right person for the job. Just take your time, and eventually, you’ll find your perfect match. In this episode, you will learn: >> (3:07) What is a Money or Financial Mindset Coach? >> (4:53) How a money or financial coach can help you >> (8:33) Why accountability is so important >> (9:14) Different techniques used by coaches to achieve results >> (10:16) The power of visualization and results >> (10:53) Money, wealth, and mindset affirmations to improve your life  >> (11:12) Topics that where money coaches are not qualified to help you >> (14:40) How to hire the right coach for you Your situation is unique, so take the time to find the right coach or financial advisor. Today's episode will help you identify where you need support and increase your odds of success. Links Referenced in the Show: The Millionaire Mindset Guide:https://themillionaireinsider.com/smmg Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/82 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

One of the most common questions people ask is if  $1 million dollars is enough to retire. While I'm not allowed to give you specific advice, today, you will learn what you need to know and do to ensure you have enough money to retire comfortably. This episode is a wealth of information about retirement planning so you can live a financially free life you love. In this episode, you will learn: >> (5:40) The real reason people run out of money in retirement >> (10:20) Considerations before you move overseas in retirement >> (13:53) The impact inflation has on your savings >> (14:40) What would you need to account for if inflation were 3% >> (15:52) Considerations before you move to a state without state income tax >> (16:58) How to pay less tax in retirement >> (18:51) Tips to create your spending plan >> (19:59) The #1 reason you’ll likely need more money in retirement Remember, every situation is different, and always consult a certified financial professional before making any decisions.  In this episode, we discussed the factors to consider when planning a retirement savings goal. I encourage you to review the information and then create a retirement plan that works for you and your situation. Enjoy the episode.   Links Referenced in the Show: The Retirement Planning Checklist:https://themillionaireinsider.com/rpc Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/81 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

One of the most common questions is, “Should I transfer my 401k to an IRA?” Before we dive in, please note that you should consult a financial professional before making any investment or financial planning decisions. Today, I interview Susan Kroeger, CFP® and Social Security expert, about the insights you need to consider before you transfer your 401k to an IRA. The insight you will learn will provide a better understanding of what to consider before making a decision. In this episode, you will learn: >> (5:37) What you should know and pay attention to when buying a financial product or service >> (6:52) Considerations for moving a 401k to an IRA >> (10:40) How does rolling a 401k into an IRA impact your estate plan >> (12:15) Can you transfer your money from a 401k to a Roth IRA >> (13:30) Considerations to manage your IRA and the fees >> (16:11) Options for someone who doesn’t feel qualified to manage their retirement or investments >> (18:50) Considerations to create a stream of guaranteed income >> (21:16) Understanding the risk of investing in stocks >> (25:28) What to do if you want to leave the money in an IRA to your kids Every situation is unique and should be customized to your situation. Before making any investment or financial changes, always consult a certified financial professional before doing anything. Today’s episode will help you better understand how a 401k can be transferred to an IRA and why someone would want to make a change or not. Links Referenced in the Show: The Retirement Plan Checkup:https://themillionaireinsider.com/rpc Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/80 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Money scams continue to rob people of their hard-earned money. In fact, the Federal Trade Commission reported that consumers lost almost $8.8 billion to scams in 2022, up 30% from 2021. Technology advances, including AI, are furthering scams and making it more challenging to determine what is legitimate versus fraudulent. Therefore, it is paramount that you learn how to spot scams so you don't become a victim of fraud. Today, we’ll dive into scams, including Taylor Swift tickets, phishing, and job postings.  In this episode, you will learn: >> (1:25) Taylor Swift and other online ticket scams >> (3:02) What to look for to identify a scammer on Facebook >> (6:06) How to protect yourself when purchasing tickets second-hand >> (6:45) What are phishing scams, and how they can impact you >> (10:07) How fake job postings can scam you out of your personal information >> (11:52) Gift card scams impacting millions of people >> (13:26) What to do if you are not sure something is legitimate >> (14:12) Safeguards when buying something from someone you don’t know >> (16:05) Action to take so you don't become a victim It’s becoming increasingly important to protect yourself online, especially when it comes to your financial information. Today's insight will help you to avoid common scams happening real-time. Please share this information with your close friends and family to help them avoid becoming scam victims. It could make all the difference. As always, I hope you enjoy the episode. Links Referenced in the Show: The Financial Freedom Guide:https://themillionaireinsider.com/ffg Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/79 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Money anxiety disorder (MAD) is becoming more common among people of all ages. More than ever, people feel the squeeze, from the rising cost of goods to increasing insurance prices. Don’t just take my word for it; it’s now a diagnosable condition. In today’s episode, I’ll give you insight into managing these feelings and improving your relationship with money. In this episode, you will learn: >> (3:13) How the economy is impacting people differently (the good, bad, and ugly) >> (5:00) Insight into why accurate information is critical to a healthy money mindset >> (6:48) How risk tolerance affects us and why it is so important to consider >> (8:50) Some root causes of money anxiety disorder and how to cope >> (11:51) How financial literacy impacts MAD >> (13:17) Some common side effects of having MAD >> (16:50) Keyways to cope and improve your quality of life >> (17:35) A meditation to clear your energy fields Today, we dove into insights to help you create a secure financial future so you can worry less and enjoy life more. The 2022 Stress in America survey by the American Psychological Association found that money, inflation, and the economy were significant sources of stress. We cover all aspects of MAD, including how to cope with these feelings and improve your worth barometer. Enjoy the episode. Links Referenced in the Show: The Financial Freedom Guide:https://themillionaireinsider.com/ffg Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/78 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

By spending your money wisely, you’ll have more to invest in yourself and the people you love. Most of us want to make the most of our money. And making smart money decisions is critical to securing your financial future. Today, you will learn how to spend money with your best interests in mind so you can worry less and enjoy life more. In this episode, you will learn: >> (2:25) A great question to ask when setting goals >> (3:50) Why setting goals is so pivotal to spending your money wisely >> (4:59) The critical budget insight on how to spend money wisely >> (7:20) The reason your primal brain encourages you to spend impulsively >> (9:23) Why people overspend >> (13:42) How to differentiate between a want and a need >> (16:25) A great way to spend less >> (18:45) Two categories that are often problematic with your spending plan Now you have four ways you and your family can spend your money with more intent and what causes overspending in the first place.  Today's episode will help you or your loved ones make better decisions so they can create a secure financial future Links Referenced in the Show: The Magical Budget Template:https://themillionaireinsider.com/mbt Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/77 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

One of the most common questions I receive is “How do I invest my money?” Since the market is at an all-time high and I am making some major changes to my personal portfolio, I decided to provide an update on what I am doing. Please note: this is not investment advice, and I am not suggesting specific investments (that is not allowed without having an advisory agreement and reviewing your specific situation). I am sharing the allocation changes I am making and what I am doing to take advantage of the stock market’s performance, mitigate my investment risk, and provide more guarantees for my and my partner’s retirement. Your situation is likely different than mine based on your age, risk tolerance, experience investing, and time horizon. For this reason, it is imperative for you to review your situation with a qualified advisor before making any changes. In this episode, you will learn: >> (5:28) A rule of thumb for creating an asset mix. >> (7:34) My philosophy and time horizon regarding my investment plan. >> (11:07) Why guaranteed income is so important to me. >> (15:40) My considerations when planning for retirement income. >> (19:29) Why it is important to consider all retirement accounts when creating your plan. >> (22:52) Mental benefits of having a solid retirement plan. >> (25:40) My thoughts on mitigating risk. Today I share insight into the changes I am making real-time in my investment portfolio. The stock market is at an all-time high and so I felt it was a good time to rebalance my portfolio. Depending on your risk tolerance, time horizon, and planned retirement, it may be a good time to review and reevaluate your portfolio. You will also learn tips, insights, and strategies so you can determine your next best step regarding your investments and retirement. Links Referenced in the Show: The Retirement Planning Checklist:https://themillionaireinsider.com/rpc Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/76 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Choosing the trustee of a trust is a major decision that can have excellent or devastating consequences to your estate plan. Therefore, it is critical that you take different scenarios into account when selecting a trustee. Today’s episode will provide insight so you can choose the best person. Estate planning and the various decisions that come along with it can be overwhelming. Today’s episode, “The Right and Wrong Trustee of a Trust,” is designed to simplify the process. In this episode, you will learn: >> (3:15) What is a trustee? >> (6:17) Why including a financial advisor on your team is so important >> (8:25) Pros of having a family member as your trustee >> (11:29) A critical mistake you want to avoid when choosing your trustee >> (18:10) The ongoing responsibilities of a trustee >> (22:48) The advantages of having a corporate trustee >> (28:55) A real-life example of a nightmare trustee >> (31:47) One of the biggest factors in choosing your team Finding the right person to distribute your assets according to your wishes as specified in your trust is critical. Today’s episode will provide insight on what to do, what you should avoid, and why. Careful planning and properly vetting the person you think is right is crucial to your estate plan's success.  Links Referenced in the Show: The Estate Planning Checklist: https://themillionaireinsider.com/epc Get your Free Financial Checkup: https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/75 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Many people struggle with overspending. When those close to you are struggling financially, it’s helpful to understand the how and why behind the addiction. This will also help them on their journey of overcoming overspending. Today, you will learn how to better help those in need of money and how to ensure your decision won’t impact your financial future or retirement. You will love today's episode if you want insight to help family and friends who overspend. In this episode, you will learn: >> (4:42) The first recommendation when dealing with a spendthrift >> (5:21) How excuses often justify overspending >> (8:13) The psychological reason people overspend >> (9:13) How emotions impact overindulgence >> (11:45) The problem with distracting our negative emotions >> (13:30) How a disciplined approach can impact your life in more ways other than just money >> (14:20) What is more valuable than giving a broke person money? >> (15:50) Real-life example of determining how to help an over-spender >> (17:53) How to leave money to a beneficiary who is a spendthrift >> (19:06) Why it’s essential to be the example and how to remap the brain Having friends and family ask for money is rarely fun, especially when they expect you to give them money whenever they ask you for help. Establishing clear boundaries, creating a plan they must follow, and being the example they need is essential. Today’s insight will help you understand why people overspend and how to support but not enable your loved ones. Links Referenced in the Show: The Magical Affluent Budget Template: https://themillionaireinsider.com/mbt Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/74 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

The millionaire advice I have learned over the last three decades (yes, it is hard to believe I have been at this for over 35 years!) is priceless. Some insights may seem like common sense, while other wisdom could be priceless for your and your family’s financial future. If you want my advice to family and friends, you will love today's episode. In this episode, you will learn: >> (6:24) My first piece of millionaire advice >> (8:24) Insight regarding your estate plan >> (8:34) The first step to creating a plan and what it includes >> (10:55) Real-world example of unintentionally disinheriting your heirs >> (11:14) What components are in an effective estate plan? >> (11:57) What to do if you have minor dependents >> (13:15) What is a trust protector, and why they are important in some estate plans >> (13:58) Considerations for replacing income >> (14:57) Why retirement income is a problem >> (15:10) Why 401k’s became so popular >> (16:38) What 35 years of research has shown >> (17:08) The impact of replacing your income >> (17:41) Creating your plan to avoid running out of money >> (21:51) Options to mitigate risk, produce guaranteed income, and replace active income >> (23:00) The average Social Security monthly check >> (23:11) What happens to Social Security income when a spouse dies >> (31:31) Health is wealth and how to keep it Today, I share some of the most critical insights I have learned in my 35 years advising millionaires. These insights are designed to help you and your family secure your financial future. Studies show that 40% to 80% of people fear running out of money. In another study, 80% of those surveyed shared that they are more afraid of running out of money than of dying. Today’s insight will help you create a plan so you can worry less and enjoy your life more! Links Referenced in the Show: The Millionaire Mindset Guide: https://themillionaireinsider.com/mmg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/73 The Estate Plan Checklist: https://themillionaireinsider.com/epc This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

One of the most common questions we receive is, “Should I Buy Long-Term Care Insurance, and What Does It Cover?” Today, you will learn the A-Z of long-term care insurance and why it is so critical to your financial future. In this episode, you will learn: >> (2:58) What exactly is long-term care insurance? >> (3:34) Why long-term care is so important >> (5:39) The coverage options available >> (8:06) The difference between a hybrid versus a traditional LTC plan >> (13:10) What will Medicare cover? >> (15:36) What you need to know before buying a LTC policy Today, we dive into how long-term care can help you secure your financial future so you can worry less and enjoy life more. Nearly 65% of people will need some form of LTC in their lifetime, and planning early can make all the difference. I hope you enjoy this episode! Links Referenced in the Show: The Financial Freedom Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/72 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Creating a financial reset is critical to building a secure retirement and future. Today, you will learn insight to help you assess your current situation and determine what you need to do to ensure your finances are in order. In this episode, you will learn: >> (0:39) The power of the happy drug >> (3:12) The first critical financial step >> (4:10) Documents included in an estate plan >> (6:14) What you should review in your retirement plan >> (8:56) What insurance coverages you should consider based on your net worth >> (10:10) Considerations if you or your family (children or parents) become disabled >> (11:01) Insurance insight if you are wealthy >> (12:03) The triple win for long-term care coverage, life insurance, and retirement planning >> (12:50) The percentage of people who will likely need long-term care insurance >> (14:15) Considerations for pet insurance >> (15:13) The financial and mental reset that pays huge dividends >> (15:59) What to do so you don’t forget about assets (currently, there is 7 trillion dollars of unclaimed money >> (16:22) Recap Financial Reset >> (16:30) What to do with your savings and emergency reserve >> (16:49) The step by step to reset your finances Conclusion – Your Financial Reset Today, we dive into five insights to help you create a secure financial future so you can worry less and enjoy life more. We cover aspects of estate planning, insurance options, ways to save and earn money, and much more. Links Referenced in the Show: The Financial Freedom Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/71 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

The million-dollar question for people planning their retirement is “When Should I Take Social Security?.” Your decision to take Social Security Income (SSI) can mean a difference of hundreds of thousands of dollars, so it is important to consider the tradeoffs. Today, you will learn the impact of when you take it and how to make better retirement decisions so you can worry less and enjoy life more. In this episode, you will learn: >> (3:59) The million-dollar question: When should I take social security? >> (4:32) At what age you can begin taking social security >> (4:47) The amount your benefit is reduced if you take SSI early and how much you will earn on your money if you wait. >> (5:21) Why you shouldn’t take SSI after age 70. >> (7:20) Can you take social security if your spouse disagrees? >> (7:28) Why you may want to take your SSI early >> (8:21) The real-world example: How one client created a plan to receive $500,000 more money in retirement >> (9:20) What happens when the first spouse dies >> (10:51) When you can access medical insurance >> (14:52) Options to generate income in retirement >> (16:20) How to reduce the fear associated with retiring >> (16:40) The impact of working one more year (It’s amazing!) >> (18:00) My favorite income stream >> (20:52) What you must understand about risk and the stock market >> (21:27) The #1 question you should ask before you retire >> (24:11) What to do if you worry about your finances >> (24:29) What happens if your spouse dies or you get divorced Today, we dive into various aspects of creating a successful retirement plan, including when to take your Social Security benefit. You will learn what to do if you worry about running out of money, what happens when the first spouse dies, the risk and return relationship, and much more. Links Referenced in the Show: The Financial Freedom Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/70 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Do you ever feel overwhelmed with your money or want to simplify your finances? Regardless of how much money you have or make, most people at one point feel anxious, worried, or overwhelmed regarding their money. Today, you will learn how to simplify your life and money so you can worry less and enjoy life more.  In this episode, you will learn: >> (3:06) The first critical insight >> (4:15) A solution to a common money problem >> (5:38) One thing you can do to reduce fees on your investments >> (6:37) The time management tip that will save you hours. As a result, you will have more time to do what you love. >> (7:10) Understanding the impact of saying “Yes” and how it impacts your financial future. >> (9:26) What to do if you or someone you know struggles with debt >> (10:25) How to quickly save money right now >> (11:40) An insight that can help anyone >> (12:36) How to reduce the overwhelm of financial information >> (14:28) Do this to simplify your life >> (15:28) How to stay focused and stop overcommitting >> (17:18) The one thing that will pay you huge dividends. (It’s not what you think!) Links Referenced in the Show: The Financial Freedom Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/69 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Would you like insight into the number one indicator of your success? The Worth Barometer measures your belief and self-esteem and is the most significant discovery of my 40-year career. It dictates your quality of life and results with money and everything else in your life. Today, we dive into three tips to help you improve your success and Worth Barometer. In this episode, you will learn: >> (4:01) The first insight that determines your success and is critical to elevating your Worth Barometer >> (4:13) Results when we do not master the first insight >> (4:55) Real-world story to demonstrate the impact >> (6:53) Why people (including millionaires) overindulge in unhealthy behaviors >> (8:13) Getting to the result and the step successful people often ignore >> (9:21) The outcome when we do not process emotions >> (10:00) The process for handling urges >> (11:34) My eating protocol >> (12:33) The secret to completing critical actions and eliminating procrastination so you can achieve your goal >> (13:07) The aftermath when you commit to taking action on your goal >> (13:57) What is going on with people who overspend or ignore their finances >> (16:25) The second critical insight >> (16:39) Sample questions to gain clarity >> (16:51) The exercise that will help you get clear on what you want in your life >> (18:00) The third insight to elevate your Worth Barometer Links Referenced in the Show: The Millionaire Mindset Guide: https://themillionaireinsider.com/smmg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc About Annette Bau: https://themillionaireinsider.com/about-us/ Show notes and more information: https://themillionaireinsider.com/68 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Too often, people make estate planning mistakes simply because they don’t know what to do or how to do it. Today, we will explore the technical and real-world aspects of creating an effective estate plan. Estate planning includes completing legal documents such as a trust, will, financial and general power of attorneys, medical directives, etc. Depending on the state you live in, additional documents may be required.  Unfortunately, many people believe they are done once they complete the legal documents, but that is not the case. As a result, their assets may not pass to their intended beneficiary or their heirs may be forced to pay for expensive probate. The next critical step is to ensure that your assets mirror the intentions of your estate plan. This requires that you title assets correctly. Some assets, such as real estate and automobiles, pass via title. Others, such as IRAs, 401(k)s, life insurance, and annuities, pass at your death via the beneficiary designation. Coordinating this entire process can be laborious and even confusing. For this reason, always consult with a qualified attorney and financial advisor to ensure it is completed correctly. In this episode, you will learn: >> (3:57) What is an estate plan? And why it is so important. >> (4:49) What you must do after you complete your estate plan and why it is so critical >> (5:17) What happens when you don’t have your estate plan set up correctly >> (6:62) How assets pass if you don’t correctly title assets >> (14:40) The threshold when someone should consider setting up a trust >> (16:18) What is intestacy, and how it impacts your estate >> (20:40) Real-world estate planning stories and the impact on the heirs >> (21:57) Why the test run retirement is so critical >> (35:57) What to do if you have a more significant estate Links Referenced in the Show: The Estate Planning Checklist: https://themillionaireinsider.com/epc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/67 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

A decamillionaire has accumulated a $10,000,000 plus net worth. Last week, we dove into Part 1, “Becoming a Decamillionaire,” which included two insights. There were so many huge nuggets in Part 1 that I wanted you to have time between episodes to process them and begin creating your strategy, regardless of your ultimate goal. Today, in Part 2, "The DecaMillionaire Journey," we will explore two more tactical insights and teach you the exact formula I used on my journey. So, if you want to fast-forward to your financial goals, stay tuned. Today’s episode will show you that and more. In this episode, you will learn: >> (4:36) The third insight on the decamillionaire journey >> (5:20) The secret I learned after 40 years of working with hundreds of millionaires >> (9:57) The fourth deca millionaire insight >> (12:44) The millionaire money formula to achieve your financial goal Links Referenced in the Show: The Millionaire Mindset: https://themillionaireinsider.com/smmg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/66 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.  

A decamillionaire is someone with a net worth of over $10,000,000. In Part 1, “Becoming a Deca Millionaire,” we explore two critical insights into this elite group. The insight you will learn will help you even if becoming a deca millionaire is not your goal. Next week, you will discover two additional insights into the “DecaMillionaire Journey.” In this episode, you will learn: >> (4:12) The first millionaire insight and why it is so critical >> (4:49) Understanding the dopamine money loop and how it keeps you from achieving your goal >> (6:06) The difference between wealthy people and those who earn money but never achieve their net worth goals >> (6:50) What often happens that most people do not understand when you have a $10,000,000 net worth >> (8:50) Where millionaires focus their attention and what actions they take >> (10:09) Healthy ways to get a dopamine hit >> (12:27) What millionaires, deca millionaires, and centi millionaires do to make money >> (12:55) The second insight on becoming a deca millionaire >> (13:15) How millionaires process information and a possible reason why many wealthy people have health problems >> (16:27) The billion-dollar nugget that I failed at >> (18:11) How I get back on track when I mess up Links Referenced in the Show: The Millionaire Mindset: https://themillionaireinsider.com/smmg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/65  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Wealthy people make different financial choices. The best news is that you can learn how wealthy people think and what they do. As a result, you can make better financial decisions and improve your financial future. When you know how to make better decisions, you can more easily accumulate money and retain wealth. I have spent over 35 years researching how most millionaires avoid money problems that others continually make. Today, I share the insight you need to secure the financially free life you love. Wealth Inside and Out® Podcast: “5 Money Problems Wealthy People Avoid” A few years into advising millionaires, I began wondering why some could manage their wealth and avoid money problems and others couldn’t accumulate wealth regardless of their actions. In this episode, you will learn: >> (5:20) The first money problem (and what to do about it) >> (8:00) What you must understand and do about debt >> (8:55) How to avoid the “keeping up with the Joneses” syndrome that so many people fall prey to >> (9:20) Healthy dopamine hits (that also help you secure a bright financial future!) >> (11:10) Insight #4 that impacts most people >> (11:30) Common reasons people are broke (even if they make a lot of money) >> (12:10) The belief that wreaks havoc on your financial future >> (13:30) The problem that results in an inefficient use of money and missed opportunities Links Referenced in the Show: The Retirement Planning  Checklist: https://themillionaireinsider.com/rpc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/64 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Planning for retirement is crucial to ensure financial stability and a comfortable lifestyle in your later years. In today’s episode, you will learn five often missed retirement planning mistakes that can wreak havoc on your golden years. Once you learn these mistakes, you will be able to create a plan to avoid them! Overview of what you will learn in this episode: >> (3:44) The most important relationship in retirement >> (6:04) What successful people commonly do >> (8:30) Getting your mind under control >> (10:24) The retirement reality, regardless of how much money you accumulate Links Referenced in the Show: The Retirement Planning Checklist: https://themillionaireinsider.com/rpc Your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/63 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

The bag lady syndrome is a fear of many women and a reality for others. In one impromptu survey we conducted, most of the women said they didn't fear the syndrome. Additional research proved that some had not considered various scenarios that could negatively impact them, such as the need and cost of long-term care coverage and losing their spouse's Social Security Benefit when their spouse dies. Today's episode is designed to empower you with the knowledge and tools you need to ensure your finances are in order. By understanding and planning for the bag lady syndrome, you can worry less and enjoy life more! Overview of what you will learn in this episode: >> (4:17) The inside scoop on the syndrome >> (6:10) Research and the risks of running out of money >> (10:53) Getting free money and how much you should save >> (11:34) The risk of long-term care coverages and potential solutions >> (16:03) 3 Insights to Avoid the Bag Lady Syndrome >> (17:12) The benefit and problem of affirmations and why people go broke >> (21:00) Keeping up with the Joneses >> (22:30) The highs that come when you have money Links Referenced in the Show: The Retirement Planning Checklist: https://themillionaireinsider.com/rpc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/62 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Even though most people don’t realize it, millions of Americans make avoidable financial mistakes every day, and they don’t realize it until it’s too late. In today’s episode, Sharon J asks me to share some common mistakes anyone could make and how to avoid them. Many of these mistakes have been happening for years and continue today! You will love today's episode if you want to avoid mistakes that wreak financial havoc. Overview of what you will learn in this episode: >> (3:47) Understanding and verifying your 1099s are accurate >> (6:55) Earning more money on your savings >> (8:20) Actual example of how to earn more on your safe money >> (9:53) Finding money >> (11:27) What you need to do annually >> (14:15) What to do before you sign your tax return Links Referenced in the Show: The Financial Freedom Formula Guide: https://themillionaireinsider.com/ffg  Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/61  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

For many, the thought of a windfall of money that propels us into the "rich" category is inspiring and motivating. This motivation can propel us to work harder and achieve more. Sometimes, the journey from Rags to Riches is a beautiful blessing. Other times, it is a living nightmare.  Today's episode breaks it down so you can improve the likelihood that your journey to riches will have a happy ending! Tune in today and learn "What happens when things don't go as planned" and "What can you do to avoid pitfalls if you come into a windfall of money?". Today, you will learn what to do whether you receive a windfall or accumulate wealth over time. In this episode, you will learn: * What you need to know about the "Rags to Riches" transformation * Nine ways to rise from poverty to riches * The positive, negative, and problems derived from a windfall of wealth * What you can do to ensure you don't run out of money Overview of what you will learn in this episode: >> (2:55) The first insight >> (5:45) The impact of your Worth Barometer >> (7:30) From rags to riches and the power of hard work >> (15:25) The importance of connecting the dots and making great decisions Links Referenced in the Show: The Financial Freedom Formula Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/60 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Achieving financial success involves the right mindset, smart planning, disciplined saving, and wise investing. Today, the podcast will reveal four unknown insights, and the blog will reveal seven additional secrets. In this episode, you will learn: * The pillar that is critical to achieving results * What most people miss (and why it can be disastrous) * Where to start so you can enjoy life now and secure your retirement * The game-changing pillar that changes everything Overview of what you will learn in this episode: >> (2:55) The first secret >> (4:59) One insight most do not know >> (9:23) The one secret most want to ignore >> (16:25) What you need to know about wealth accumulation Links Referenced in the Show: The Retirement Planning Checklist: https://themillionaireinsider.com/rpc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/59 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Financial infidelity, though often overshadowed by more overt forms of betrayal, can quietly erode a relationship's foundation. Money lies can be minor or significant, and studies show that most relationships include some level of infidelity with their finances. If you're seeking practical advice on navigating and preventing financial deception in your relationships, this episode is tailored for you. In this episode, you will learn: * The difference between financial infidelity and irresponsibility * What are financial lies, and why they are so devastating to a relationship * The most common money lies * How to create healthy money rules and avoid financial deception Overview of what you will learn in this episode: >> (3:09) What is financial infidelity >> (11:31) The impact on your relationship >> (12:59) Where to get support >> (17:22) How to gain back trust Links Referenced in the Show: The Retirement Planning Checklist: https://themillionaireinsider.com/rpc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/58 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Overcoming underearning involves a mindset shift, skill development, and strategic actions. Today's insight will help you create a financially secure future. While most people can understand underearning in their career, today, you will learn how people often earn less with their investments. And the best part is that you can start implementing these practical, real-world insights today! In this episode, you will learn: * The different ways you may be underearning and what to do about it * How to develop an abundance mentality and what to do if you have a scarcity mindset * Skills to earn more money in your business or career * Less common ways you underearn with your money Overview of what you will learn in this episode: >> (3:53) What you should know >> (6:11) How to overcome making less than you want or deserve >> (8:24) How it impacts your portfolio >> (12:26) Ways to earn additional revenue Links Referenced in the Show: The Millionaire Mindset Guide: https://themillionaireinsider.com/smmg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/57 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

I have seen over and over again how people acquire money only to lose it. Whether they inherit, earn, or obtain it from the sale of a business, too often, the person loses it all. As the saying goes, “If you can’t handle $1, you can’t handle $100000000.” I have also seen situations where people who receive windfalls create amazing lives and others where it destroys their lives. In today’s episode, I share the insight you need to know to create a financially secure life you love. In this episode, you will learn: * One of the biggest problems that most people miss * Practices to help you avoid impulse decisions * What to do to ensure you don't run out of money * The latest brain research and how it impacts your spending habits Overview of what you will learn in this episode: >> (2:59) The first critical mistake >> (5:00) How to calm an overactive mind >> (5:35) Live demonstration >> (10:00) Before you discount anything, do this >> (12:00) How to create a guaranteed income stream >> (13:44) The finite amount of money >> (18:00) What to do if you don't have enough money Links Referenced in the Show: The Millionaire Mindset Guide: https://themillionaireinsider.com/smmg Your Next Step Financial Assessment: https://themillionaireinsider.com/nsf Show notes and more information: https://themillionaireinsider.com/56 The information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Running out of money is not on most people’s bucket list, yet most worry about it. A recent study found that 80% of the interviewees feared running out of money. In another study, people said they were more afraid of running out of money than dying. And it is a reality for many. Studies show that up to 40% of people rely entirely on Social Security for their retirement income. In addition, of those living in poverty over age 65, almost 75% are women. Many of these women were not broke or poor while married or working. In this episode, you will learn: * How to get your spending under control (and understand why you or a loved one overspend? * The process of tracking expenses * One of the most commonly missed reasons people run out of money * One of the best options to avoid running out of money in retirement Overview of what you will learn in this episode: >> (3:43) How to stop overspending >> (8:08) Where you need to focus your attention and energy >> (10:29) What to avoid when investing >> (12:30) Additional tips to create a secure financial future you love Links Referenced in the Show: The Financial Freedom Guide:https://themillionaireinsider.com/ffg Get your Free Financial Checkup: https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/55  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Cultivating good money habits is essential for securing your financial future. Today, we're diving into three uncommon habits that are game-changers. These habits, known by only a few, have the potential to dramatically transform the trajectory of your financial future. We delve into practical and unknown millionaires' habits that you can start applying today! In this episode, you will learn: * How your primal brain impacts your habits and results * Critical insight on the relationship of your Worth and Wealth Barometers (and when it matters) * How dopamine impacts your earning, spending, and accumulation habits * The first step to creating better habits with your money (or really, anything!) Overview of what you will learn in this episode: >> (2:55) The first habit >> (4:59) How your Worth Barometer impacts your Wealth >> (9:23) How to stop overthinking so you can achieve your goals >> (16:25) Increasing dopamine drips Links Referenced in the Show: The Millionaire Mindset Guide:https://themillionaireinsider.com/smmg Get your Free Financial Checkup: https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/54 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Retirement planning is a critical piece of your financial plan. While many people understand this, many are uncertain about how much money they need to retire comfortably. The question, “How much money do I need to retire?” often raises more questions than answers. Evaluating your current financial status is essential before determining how much money you need for retirement. Today, we cover the entire gamut to create a secure retirement you love. In this episode, you will learn: * If $1 million is enough to retire * How to ensure you won't run out of money * What can I do to reduce taxes in retirement * What happens with our Social Security benefit when one partner dies Overview of what you will learn in this episode: >> (3:04) Is $1 million enough money to retire comfortably? >> (4:20) How taxes impact your retirement >> (11:30) The first critical step when considering retirement >> (12:31) What investments have returned based on historical Links Referenced in the Show: The Retirement Plan Checklist: https://themillionaireinsider.com/rpc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/53 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Today is our first anniversary! And we are celebrating you and who you have become on your journey. In this episode, we delve into four life-changing lessons I gleaned from Oprah that not only transformed my life but can also ignite a powerful change in yours! In this episode, you will learn: * What to do when you achieve a major goal * How the answer to the question Oprah asked can change the trajectory of your life * What to do if you lack confidence * The four questions to ask yourself Overview of what you will learn in this episode: >> (3:53) A common challenge when you achieve a significant goal >> (6:11) What Oprah said to me and ultimately how the Wealth Inside and Out® Podcast came to fruition >> (8:24) The four lessons I learned from Oprah >> (12:26) How to increase self-confidence Links Referenced in the Show: The Millionaire Mindset Guide:https://themillionaireinsider.com/smmg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/52  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Most people would love to improve their financial situation by earning more money, accumulating wealth, and living abundantly. However, this requires aligning thoughts, intentions, and actions. Many people do not have a healthy relationship with money and do not understand the power of manifestation. Their thoughts and feelings about money make it difficult to achieve their financial goals. Today, you will learn how to attract what you want and the process of practical manifestation. In this episode, you will learn: * What does manifesting wealth mean? * The 5-step process to manifest what you want. * How to focus on what you want and why removing negative thoughts is so important. * Actions to attract and manifest more money. Overview of what you will learn in this episode: >> (5:35) What is practical manifestation? >> (10:45) Common money blocks >> (13:35) Shifting your vibration >> (16:00) Where you must focus Links Referenced in the Show: The Financial Freedom Formula Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/51  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

How do some people have so much success with money and life, and others struggle? From afar, success with money appears to have a lot to do with luck. I, too, believed that wealth came from luck – until I witnessed firsthand valuable insight into the lives of millionaires. Sure, some are luckier than others. However, at a core level, their success (like yours) will always increase when you take the steps required to produce results. And that is what we are discussing today. In this episode, you will learn: * Why personal finances are so easy for some people * How much money does a person need to achieve financial success * Why are some people wired to know their bottom line numbers and how much money they need to achieve financial security? * What do millionaires do to set and achieve financial goals with ease? Overview of what you will learn in this episode: >> (3:57) What is the money success formula? >> (11:27) Why creating your strategy is so important >> (12:24) The third formula element that makes your goal a reality >> (13:10) What makes success with money and life a reality? Links Referenced in the Show: The Millionaire Mindset Guide:https://themillionaireinsider.com/smmg Get your Free Financial Checkup: https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/50  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

The FIRE (Financial Independence, Retire Early) movement is a lifestyle movement to achieve financial independence and retire early. It emphasizes saving for retirement, frugality, and investing wisely to accumulate enough wealth to sustain living expenses without traditional employment. The term FIRE came from a 1992 book by Joe Dominguez and Vicki Robin called "Your Money or Your Life." The book presents a holistic approach to money management. The focus is on financial strategies, aligned values, and personal fulfillment. In this episode, you will learn: * What is FIRE (Financial Independence, Retire Early)? * Insight on the FIRE Movement * Pros and cons of the movement (I share what I love and don't like so you can decide if it is right for you!) * How FIRE can impact your fulfillment and well-being Overview of what you will learn in this episode: >> (3:43) What is FIRE? >> (8:08) Where they recommend investing your money >> (10:29) The primary benefit of having money >> (12:30) One of the biggest negatives of the FIRE Movement Links Referenced in the Show: The Financial Freedom Formula Checklist:https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/49  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Many of us are curious to discover how wealthy individuals continue to grow their wealth. What secret wealth-building and investment strategies do millionaires know that the rest of us don’t? Building wealth is a process that includes multiple components and options. Some are more obvious, like creating a financial plan, setting up a retirement account, and saving and investing money. However, others, such as removing money blocks, creating a money mindset, or manifesting goals, may not be as easily understood. Today, you will learn five wealth-building strategies to transform and secure your future. In this episode, you will learn: * The most important step regarding investing * How millionaires diversify their assets (This insight may surprise you!) * Insight to create streams of income so you do not need to work (This is my absolute favorite strategy!) * What wealthy people understand about expenditures Overview of what you will learn in this episode: >> (3:40) The traditional and non-traditional methods of wealth accumulation >> (7:25) The difference between wealth and money >> (11:30) Where to get investment advice >> (14:08) Types of passive income streams Links Referenced in the Show: The Retirement Planning Checklist:https://themillionaireinsider.com/rpc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/48  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Most of us have made a financial mistake. Some people make mistakes, learn from them, and then get on to achieving their financial goals. Others continue to repeat financial mistakes and end up in financial ruin. Today, you will learn 13 of the most common financial mistakes and how to avoid them to secure a financial future and retirement you love. In this episode, you will learn: * The first and possibly most important step * The one thing you must do if you overspend * The most costly mistake and how to avoid it * How to create a plan that allows you to stay on top of your finances Overview of what you will learn in this episode: >> (4:04) One of the most overlooked financial mistakes people make >> (6:40) How to create a budget that works for you and your life >> (11:05) How to stop overspending, overeating, or other problematic indulgences >> (16:00) Mistakes professionals and successful people often make with their money >> (20:05) How to get the best investment advice and other considerations Links Referenced in the Show: The Financial Freedom Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/47 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Think about how sudden wealth occurs – one day, your life is good, and the next day, you are wealthy – in an instant, your life changes forever. For many, money appears to be the answer to their prayers. And for some, it is, but for others, it is not. Today, you will learn what you can do to plan for an inheritance, divorce, or retirement so you don't blow your windfall like so many. In this episode, you will learn: * The first and possibly most important step * How to determine what you want and can afford * Learn how to respond gracefully to family and friends who ask for money or share a great investment tip (This insight is priceless!) * How to create a plan that allows you to enjoy your life now and in the future Overview of the episode: >> (1:44) The impacts of a financial windfall >> (3:19) Studies on lottery winners >> (9:31) Receiving money from a divorce or death >> (19:40) How to respond to family and friends about money decisions >> (20:33) How to determine how much passive income you need Links Referenced in the Show: The Financial Freedom Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/46  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Financial confidence plays a crucial role in making wise and informed money decisions. A 2023 NerdWallet survey revealed that three-quarters of Americans lack financial confidence. A major factor was the uncertainty in the U.S. economy. Today, you will learn what you can do to increase your knowledge so you can better manage your money and secure your financial future. In this episode, you will learn: * How to increase your comfort about money * The 12 (Super Easy) Steps to Grow Your Financial Confidence * The one thing you can do to increase your literacy with money * How to create milestones so you can hit your financial target Overview of the episode: >> (11:47) Understanding confidence with money >> (12:20) Why millionaires often go broke >> (13:47) Free financial resources to help you >> (14:30) How to create goals so you can achieve them Links Referenced in the Show: The Financial Freedom Guide: https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/45  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Money anxiety is also called financial anxiety. Financial stress is one of the primary sources of anxiety. As the cost of living continues to rise, it impacts more people than ever. The 2022 Stress in America Survey conducted by the American Psychological Association shared that 87 percent of participants felt that inflation is a source of significant stress, greater than any other stress since the survey began in 2017. Today, you will learn what you can do to reduce your anxiety with money - from rising prices to retirement. In this episode, you will learn: * What money-related anxiety is * Root causes of financial anxiety * Effective strategies to cope with money stress and overwhelm * Stress reduction strategies to help you better deal with money anxiety Links Referenced in the Show: The Millionaire Mindset Guide: https://themillionaireinsider.com/smmg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/44  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

A financial advisor is a professional who provides financial guidance and advice to individuals or businesses. They help clients make informed decisions about managing their money, investments, estate, retirement, and financial planning. Before you ask how to choose a financial advisor, you'll need to figure out the type of advisor that will work best for you and your situation. Today, you will learn if you need one, how to access resources if you can't afford an advisor and the different decisions you need to make before you hire one. In this episode, you will learn: * Five different reasons why you may need an advisor * The different types of advisors, how they charge fees, and which ones are required to put your interests ahead of their own * The 5-step process to choose a financial advisor * Questions to ask a potential financial advisor Links Referenced in the Show: The Financial Freedom Guide:https://themillionaireinsider.com/ffg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/43  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

If you have ever dreamed of finding money, you will love today’s episode! SmartAsset reports that there is over $49 billion in unclaimed property. The National Association of Unclaimed Property Administrators reports the amount of unclaimed property in states yearly. They share that over $3 billion is returned annually to its owners. Today, you will learn how to find unclaimed money as well as actual case studies of people who forgot about assets (It is more common than you probably realize!). In this episode, you will learn: * Where to find unclaimed money * How to find assets with a website search * Ways to find assets you forgot you owned * The #1 action you need to take each year Links Referenced in the Show: The Estate Planning Checklist:https://themillionaireinsider.com/epc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/42  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

The fear of outliving your money is terrifying and a real concern for many people - especially women. The Millionaire Insider’s®  Women and Money Study confirmed that the most common fear is running out of money in retirement. Interestingly, many women shared that they don't know what to do. Or if they do, they aren't doing it. Today, we will review the steps you can take so you don't end up broke. In this episode, you will learn: * 14 critical insights to avoid running out of money * Three of the most important questions to ask before considering retirement * The dry run you need to pay attention to (Most advisors and retirees don't know about this!) * What you need to know about health care and long-term care insurance Links Referenced in the Show: The Retirement Planning Checklist:https://themillionaireinsider.com/rpc Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information: https://themillionaireinsider.com/41  This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

It is amazing how our beliefs impact every aspect of our lives, including our money. When we become conscious of our money beliefs, we can shift them. This can make it easier to achieve our financial and life goals. Today, you will learn everything you need to know about money beliefs, including research showing how different money scripts impact our relationship with money and our decisions. In this episode, you will learn: * The most common money beliefs * Four money scripts that dictate how you show up and make decisions * 7 Steps to Create a Healthier Money Mindset * The impact of beliefs on your finances and how to change them Links Referenced in the Show: The Millionaire Mindset Guide:https://themillionaireinsider.com/smmg Get your Free Financial Checkup:https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/40 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.

Heading into the New Year is a great time to create resolutions for the upcoming year. It is also a perfect time to review your financial priorities, including: * Your spending plan * Creating a plan to reduce or eliminate debt (including a plan to pay off debt, especially those with higher interest rates) * Analyzing your investments The beginning of the year is a perfect time to review your financial goals because financial wellness is often closely connected to physical and mental health. It’s also a great time to combine it with your other resolutions and goal-setting. And it’s fun, even if money or numbers aren’t your favorite pastime. We will do this together, which will help make it easier. In this episode, you will learn: * 7 financial resolutions to help you meet your goals in the New Year * Questions to ask yourself to identify your new resolutions * How to earn more money on your emergency fund * The magical money formula Links Referenced in the Show: The Millionaire Mindset Guide:https://themillionaireinsider.com/smmg Get your Free Financial Checkup:  https://themillionaireinsider.com/fc Show notes and more information:https://themillionaireinsider.com/39 This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.