Crashes And Taxes Podcast

The gap between your current income and the income you want to have for the rest of your life is a critical piece of information that determines your overall financial future. Many people just aren't aware of what their wealth gap is, and how to build their asset classes to match their retirement goals. Without this information, we end up operating our finances in the dark, without an integrated plan or a direction, which will have a significant impact on our entire financial house. How do we calculate our wealth gap, and determine what we need to do to achieve our goals for retirement? Why is it important for us to be clear on what we need to personally generate for retirement? In this episode, I discuss the cash flow gap and how it can help us determine what we need to do right now to be on track for retirement.

Private courier companies and carriers like UPS and Fedex are having one of their best financial years ever due to increased demand for their services during the lockdowns. The United States Postal Service, on the other hand, was last profitable almost two decades ago and continues to struggle every single year. Since 2006, the USPS has been failing and drowning in debt, losing up to $9 billion a year. The world has changed tremendously since then and we don't require postal services the way we did before email and online services. The USPS has lost its most lucrative income stream, so it's almost impossible to cover the costs of keeping it running. But that doesn't mean there isn't a way to put at least some of the 35,000 post offices in the US to use, but that isn't happening. The fact that the postal service is a government-structured and controlled machine is the real problem, and one we need to remedy. What are some of the reasons the postal service is in such a state of breakdown? In this episode, you'll learn about the problems with the USPS, and some of the suggested solutions.

I know what you're thinking...why is a financial and tax podcast talking about politics? But what many Americans don't realize is that the policies and mandates being put into place now (even for what appears to be for 'the greater good'), affects every single American in multiple ways, including your financial picture as we now know it. While tax attorneys tend to push for less taxes (obviously :)), just know that what I really care about is green - as in YOUR money! It's not about Red or Blue, Conservative or Democratic - It's all about the black and white of math! What we have witnessed these last few months is the biggest grab of control over private citizens we've seen in decades. Our freedom as Americans is at risk and it should concern us all. Americans deserve to be born free, to live free and to die free, and any time the government gets involved, that freedom is diminished. With a global pandemic, a national shutdown and massive unemployment, many people naturally want the government to step in and help. But it's not by accident that this increased government control has also revealed tyranny in our society. When we're dependent on the government, we don't get to live our lives the way we choose to. We should never be willing to give up our liberty, even for safety because we end up enslaved. What are some of the signs that our liberties are under threat? How are tech companies contributing to the destruction of our freedom? How do the politics play into our finances? In this episode, I discuss a recent Fox News survey about government involvement, and why we should be alarmed by what's happening in our country right now.

We all believe that building a house to keep us safe throughout our lives is normal… but have you ever considered the financial house you have built with your assets?.. Different asset classes function differently and leveraging their different characteristics can help ensure your long-term financial success. This is what we call our fiscal house. Your fiscal house is made up of assets that involve risk, assets that transfer risk and no-risk assets. A house is made up of different components that make it a solid, sturdy, comfortable and durable structure, and it's no different with our money. In our fiscal house, each part has to be leveraged properly for maximum benefit. What are the components that make up our fiscal house and how do we leverage and maximize each of them? Why should we avoid building all our wealth into real estate? In this episode, I talk about why the process of building and actively managing your fiscal house is so critical to your wealth building.

The American public has been conditioned to believe that there is one path to success, and that is to go to college and get a 9 to 5 job. That isn't the only option available. Some of the most successful people in our nation got to where they are because they took a chance on a different path. We live in a country where there's so much opportunity to tap into if we go against the status quo. My guest today decided to take that alternate path to success, and he now runs a 47 location real estate operation with 1500 licensed agents. How do we start our own wealth building journey? What are some of the steps our guest took early in his career to set himself up for success? In this episode, wealth expert, entrepreneur and media personality, Daniel Alonzo shares his journey to wealth and the power of taking a different path. Guest Bio Daniel Alonzo is a wealth expert, entrepreneur, media personality, podcaster, speaker and author of the forthcoming book Wealth on the Beach. He brings his messaging of creating a life of passive income and financial independence to 30,000 organic social media followers and speaks in front of hundreds and thousands of people a year. For more information, visit http://alonzoacademy.com/, watch his videos on YouTube and follow and DM him your questions on Instagram.

One of my favorite asset classes in the tax code is something many people don't consider, believe in or ever leverage. It is one of the most effective ways to stabilize our fiscal house and take advantage of some wonderful benefits unique to the tax code. How do we leverage this asset class to build our wealth? What does it do for our finances and how is it different from other asset classes? In this episode, I share one of the best financial strategies tax attorneys can take advantage of, and why you should too.

The initial shutting down, reopening and threat of further shutdowns has created an unprecedented amount of economic instability and uncertainty. If we continue this way, we're undoubtedly headed for a financial catastrophe of epic proportions. Recent financial figures confirm that consumer confidence is at an all-time low. People are concerned that we aren't fully reopening and worried about what that means for the wider economy, as well as their personal finances. The truth is, we can't afford any more instability, and we can't wait for a vaccine for us to get back to normal. We also can't keep shutting down every time the infection numbers rise. If we can't commit to normalization with the virus and we can't shut down, we have to find a reasonable middle ground. I believe there is a way for us to get our economy back on its feet, while still protecting the vulnerable people in our population from the virus. Why is it impossible for our economy to bounce back if we continue having these shutdowns? Why does the risk go beyond the economy and money? In this episode, I talk about why rolling shutdowns should worry us. 3 Things We Learned From This Episode How rolling shutdowns are impacting consumer confidence Consumers just aren't confident that we'll be able to resume any type of normalcy. If they don't feel confident, and aren't feeling positive about how things are going, they won't spend money and our economy won't recover. Why shutting down isn't just about the economy There have been real hardships for people who have lost their jobs and don't have the ability to support their families. As a result many people have turned to unhealthy coping mechanisms and this has increased abuse, addiction, and depression. The reality about the economy that we just can't ignore Our economy has not yet felt the sting of the coronavirus because of the stimulus and CARES Act, which have been cushioning the blow. Unfortunately, this is not sustainable. We can't stimulate the economy forever.

Over the last decade, there's been an explosion of tactical money management, a philosophy which diverges from traditional investment models. It has produced a huge shift in the type of offerings and services that are provided. One method is a cookie-cutter approach that doesn't take financial individuality into consideration, and the other is on the cutting edge of protecting your investments through intentional strategy and hedging your downside. What are the core differences between standard asset class management and tactical management? Why is tactical management so much more relevant to what's happening in the world and market now? In this episode, I talk about considering how, and who, you should be investing your money with. 3 Things We Learned From This Episode Passive money management tries to fit you into a model: Traditional money management is passive and standardized. Everything is done at an institutional level and there isn't a lot of individualized attention to market factors and their impact on one particular sector. The emphasis of this management philosophy is always on rebalancing to the model portfolio range. Our perspective on the market is different: Tactical money managers are not anti-market. We're pro-market to the extent that it makes sense for your risk preference, your life situation and your long term plans. The tactical money management approach is current: Tactical money managers evaluate the market conditions continually and they make trades on a daily basis to hedge what is happening, move into sectors that are on the upside and to hedge you against the downside.

Our economy has bounced from a massive correction to a fast and swift recovery in record time. But the news media is now talking about a second wave of the virus and what we're seeing in the stock market is a direct reaction to this fear mongering. If we fall prey to the day-to-day news media and market manipulation, we'll end up investing emotionally and throwing all logic, good decision making and planning out the window. If you have a good investing plan in place, the market volatility won't affect you and your money won't get swayed by emotion. Why is the media so invested in reporting on a second wave of the virus? How can we distance ourselves from emotional investing? In this episode, I talk about the dangers of letting the news cycle influence your investing. 3 Things We Learned From This Episode An investment strategy vs. an investment portfolio Having an investment portfolio is not the same as having an investment plan. A plan takes into consideration the fact the market is volatile. When you have a plan, you know you need alternative investments to see you through the volatility. Investing only in the stock market leads to emotional manipulationIf all of your investments are in the stock market, you will always make decisions based on emotion because your market based portfolio is going to be affected every time something changes in the market. The media wants us focused on the wrong information and metricsThe news media is focused on the fact that coronavirus cases are on the rise, and not on the positive news that hospitalizations and deaths are down. This is the narrative they are invested in pushing, often at the expense of your financial wellbeing.

Money and financial stability can be extremely liberating for us. We can gain freedom and power by building wealth. Unfortunately, a lot of what we're taught about money actually diminishes that power, and in order to regain it we have to break with conventional wisdom. As we've never been effectively taught how to use our money, we continue to use 401ks and bank accounts. These are far from the best options available to us, and in some cases can cripple our financial gains. We're in the midst of a massive pivot in the market, and it's important we use this time to protect ourselves financially and deploy our money in a smarter way. In this episode, America's #1 Money Mentor, Chris Naugle joins me to discuss how to take back control of our money. 3 Things We Learned From This Episode Why this is a time of opportunityA lot of people are viewing this market shift as the beginning of a recession, but we should be looking at it as a big financial pivot. This is the biggest opportunity of our lives - we just have to look for it. That we have to regain controlWhen we put our money into 401ks and bank accounts, we're giving up control. Stop letting banks decide what to do with our money, start using whole life policies and infinite banking systems. Why 401ks should not be our only source of moneyWhen we put our money into 401ks, we're setting ourselves up for weaker dollars in the future. We wouldn't freeze bread and eat it 5 years later, or buy a car and wait a decade to drive it - so we shouldn't be doing the same thing with our money. Guest Bio Chris Naugle has dedicated his life to being America's #1 Money Mentor. His success includes managing over 30 million dollars in assets in the financial services and advisory industry and tens of millions in real estate business, with over 200 transactions and an HGTV pilot show since 2014. In 20 years, Chris has built and owned 16 companies, with his businesses being featured in Forbes, ABC and House Hunters. He is currently the co-founder and CEO of FlipOut Academy™, founder of The Money School™, and Money Mentor for The Money Multiplier. As an innovator and visionary in wealth-building and real estate, he empowers entrepreneurs, business owners, and real estate investors with the knowledge of how money works. Innovating what it takes to break the chains of financial slavery, Chris is driven to deliver the financial knowledge that fuels lasting freedom. To date, he has spoken to and taught over ten thousand Americans. To find out more about Chris, head to:http://instagram.com/chris_naugle/ https://www.facebook.com/ChrisNaugleOfficial/ https://chrisnaugle.com And to take advantage of his giveaway, head to:moneyschoolrei.com/book for a free copy of The Private Money Guidemoneyschoolrei.com/newbook for a free copy of Mapping out the Millionaire Mystery

Throughout the government's handling of the coronavirus crisis, we've seen an unprecedented and severe encroachment on our civil liberties, more so than ever before. Slowly, our freedoms and our ability to live our lives unmonitored and unfettered is being chipped away. This isn't to say there shouldn't be legitimate government intervention in times of panic. However, we should be worried that what starts out as a seemingly harmless emergency protocol gets manipulated into outright oppression. This doesn't just affect our day-to-day lives, it affects our money too. When the government has more control than ever, that can reach right into our wallets and threaten our financial freedom. This is why the times we're living in are so dangerous, and why we should be protecting freedom, liberty and equality. How is the government slowly gaining more control over us, and why should this be a concern? In this episode, I talk about these unprecedented times and what they can tell us about the power structures in America. 3 Things We Learned From This Episode Why money is a vehicle for freedomMoney is the provider for you to live the life you want in a free society. The minute the government taxes you, they restrict that ability. If the extent of the taxation is too big, it takes away your ability to live the life you want. What makes tax law so important to meTax law is where government control and your money and freedom collide. If we're not aware of what's happening, the government's power will slowly reach into your wallet and compromise your liberty in the process. How to defend our freedoms as the government tries to take them awayWe need to make our nation better by taking a stand against oppression, unreasonable control and anything that tries to suppress our lives, livelihoods and liberties.

Changing business models and the emergence of entirely new business models has caused the growth of the independent contractor employment class. There's always been a lot of back and forth about what to do with this class tax-wise, and in California AB5 was the state government's answer. The problem is this law doesn't actually bode well for many businesses whose business model relies partly or entirely on independent contractors. The law of unintended consequences definitely applies here. Businesses won't be able to hire an independent contractor who will take on the responsibility of paying taxes on their own. There are many problems this will cause to the business, putting its very existence at risk. Here's the truth, an AB5 style bill could be coming to your state next. What does AB5 mean for businesses and what issues will it cause? In this episode, I talk about why AB5 should concern all of us. 3 Things We Learned From This Episode Why California wanted AB5California is the biggest tax state in the union, so they are concerned with maximizing tax income. Putting AB5 in place will actually allow the state to earn more potential tax revenue. How AB5 Will Impact Businesses That Rely on Independent Contractors If someone is classified as an independent contractor, the business has no responsibility to make sure payroll taxes are withheld. If they are classified as employees, this means the business takes on that responsibility which may cause irreparable harm to the business. The unintended victims of AB5AB5 was created with businesses like Lyft and Uber in mind, but the unintended consequence is that it will affect other small businesses that are actually reliant on independent contractors for their very survival.

1981 was the pivotal point in American history where we shifted from pensions to the 401k as the primary source of retirement funding. Since then we have seen the perils and downsides of a system with a flawed design and execution. Before the 401k, we had a plan which gave people a better shot of maintaining a substantial percentage of their pre-retirement income. 4 decades later, what is the result of the 401k and its impact on the livelihoods of Americans? Sadly, not good. What was the 401k actually designed for? How is it creating problems for employees and threatening their retirement income? In this episode, I talk about the huge problems with the 401k design and how it will impact your financial future. 3 Things We Learned From This Episode How the 401k became a vehicle for Wall Street to take advantage ofThe rise of the 401k goes hand-in-hand with the increased power of Wall St. It paved the way for the increased investment in the stock market, and for Wall Street to entice us with lies about what we can do with a 401k, including deferring tax. Why the 401k puts you at more risk financially The 401k is a market-based vehicle with no guarantees and the risk of market volatility. All of the risk has been transferred from the employer onto the employee's shoulders. What the 401k was originally designed forThe 401k was originally a plan designed to be professionally managed for highly-compensated executives. It was ultimately adopted because it was a way for companies to avoid the more costly Defined Benefits Plan.

As we discussed in last week's episodes, 2020 has produced significant market highs, only to be followed by some of the deepest one-day drops the market has ever seen. If we look further into history, we realize that this isn't just about the coronavirus; this is actually a new pattern of how the market performs. The new normal is insane market highs and vicious lows. We need to accept this to be the new reality of investing in the stock market, and take action to fortify our investments and financial security. What are the past market conditions that have given strong indications toward our current situation? How can we put the right plan in place in response to the new normal? In this episode I talk about what we can expect from the stock market going forward, and how to plan accordingly for it. 3 Things We Learned From This Episode What the market looks like in the new normalFrom the low of the great recession to February 2020, we saw the longest period of economic expansion, but then this was followed by the fast and furious coronavirus crash - 24% in 40 days. Why we need a plan that goes beyond staying in the stock market and riding out the volatilityThe last two corrections each took 5 years to recover from, so if you're someone who is retiring in 10 years, you cannot afford to have your money in the stock market with all the volatility. What you need to know about your brokerYour best interests are not always aligned with your broker's best interest and what makes them money. In a good market, it's less about the broker's ability and more about the good results of the market.

Ever since coronavirus was declared an epidemic, the world's been going through a serious rough patch. The financial implications of the entire world shutting down are significant, and if you have money to invest it's hard to know where to turn. If you received a stimulus check, you're going to need somewhere safe and accessible to put it, but is anything actually secure when the world shuts down? We want to give our money a fighting chance, and not focus on outperforming the market, but rather delivering a plan that helps you build long-term financial stability. Fortunately, there are places we can put our money right now. There's been a lot of financial innovation and investing ingenuity that can benefit us. How can we invest without exposing ourselves to the risk of a volatile market? In this episode, I talk about how we can put our stimulus check to use wisely. 3 Things You'll Learn In This Episode Why even the most stable asset classes are going to be affected the coronavirus With almost every business forced to shut down or work from home, everything is impacted, even the most stable investments are going to perform differently in this environment. Real estate is typically the best hedge against a volatile market, but we need to put a pin in it right now With people being furloughed and losing their jobs, their ability to pay rent and mortgages is going to be impacted. Real estate is typically the safest way to invest but for now, it's temporarily best to wait. A simple innovative tool to help you buy into the index and protect your downside The goal is to find an investment that allows you to avoid riding the lows of market volatility while getting the benefits of the highs. This is where options-based index investing comes in.

In the last 4 months, we've experienced a fast and furious decline in the market. No one could have foreseen a global epidemic, but we did know that we were long overdue for a market correction. History can give us greater perspective on how the future is going to take shape. On February 19 we hit a historical market high, but within 30 days we saw some of the largest single day losses the market has ever encountered. Even then, many investors refused to heed the signs and chose to keep themselves in this highly volatile market. This reminds me of the fable of the Dog and His Reflection, a story that's more true now than ever before. What risks do we take when we chase potential market gains despite the clear warning signs? In this episode, I talk about how to avoid financial FOMO and make wise investing decisions when the market is good. 3 Things You'll Learn In This Episode The importance of reading the signs Before the coronavirus correction, we had seen an unusually long bull market, and that should have been the warning sign that something was going to change around March/April 2020. Why the fear of missing out on a market high can lead to our lowest lows Don't just think about missing out on the top end of the market. By taking your gains off the table in time, you also won't have to experience the bottom. Why we need to stop and smell the roses We don't need to keep chasing the market to the top, we can take the wins we have and get to enjoy them.

Welcome to Crashes & Taxes! I am super excited to launch my brand new podcast on Thursday, May 14th. Please enjoy this short preview of my first two episodes. Subscribe to the podcast and join us on launch day as we dive into the latest breaking news and topics. We have an exciting line-up of guests to come, ready to help you tackle the status quo of market crashes, rising taxes and politicians that keep you from growing your wealth. Thank you for joining me and I'll speak to you soon - Rebecca Walser