Grow Money Business with Grant Bledsoe

Scott Christianson is an Associate Teaching Professor at the University of Missouri whose proficiency involves technology, information systems, project management, and education, enabling him to guide students in developing critical thinking skills about upcoming technologies such as artificial intelligence and blockchain. He joined this week's episode of Grow Money Business to update us with his knowledge of generative AI, cryptocurrencies, Central Bank digital currency, and more. [07.45] AI –Scott explains how AI can be inaccurate in specifying details and how we can use it as a tool in our arsenal. [12.50] Copyright issues – Grant and Scott talk about the large-scale copyright issues artists are facing because of AI. [22.09] Impact – We dive into how generative AI impacts professions such as content creation. [31.26] Bitcoin – Grant and Scott discuss the long-term potential of cryptocurrency. [43.00] CBDC – Scott shares his thoughts on Central Bank Digital Currency and its current standing. [50.38] Usage of CBDC – Scott shares some examples of countries that are both successfully and unsuccessfully using CBDC. [56.03] Wealth inequality – Grant and Scott discuss the rising wealth inequality in the USA. Resources frtech.substack.com/ linktr.ee/profc Number Go Up: Inside Crypto's Wild Rise and Staggering Fall by Zeke Faux amazon.com/Number-Go-Up-Cryptos-Staggering/dp/0593443810 Video Suggestions [12.46] That's the big issue ………….. replace artists. [18.07] Google Bard ……………. Paper itself.

On this week's episode of Grow Money Business we revisit a mailbag question from a few months back: should you be investing in precious metals? Join us as we talk about whether we should include precious metals in our investment portfolios, the pros and cons of doing so, the different ways you can invest in precious metals, and more. [05:34] Investing in gold – Grant starts off the conversation by explaining the history of investing in gold. [14:12] Gold standard – Grant describes how the U.S. decided to abandon silver and move to the gold standard. [20:17] The Great Depression – Grant shares how the Great Depression impacted the gold standard. [26:00] Sensibility – Grant explains why it doesn't make a lot of sense to invest in precious metals as part of your portfolio. [32:00] Investing – Grant shares how you can invest in precious metals, should you choose to. Resources Gold standard en.wikipedia.org/wiki/Gold_standard The Gold Standard Throughout U.S. History learn.apmex.com/learning-guide/history/the-gold-standard-throughout-u-s-history/

Historically, business growth was heavily dependent on the ability to obtain a bank loan. Over the last few decades, there have been a lot of advancements in the ways that companies can raise capital for growth. On this week's episode of Grow Money Business we are joined by Karl Dakin, who is a long-time expert in capital raising for small companies. Join us as we dive into the common errors entrepreneurs make when raising capital, deal structures, bank loans for capital raising, market competition & innovation, and more. [07.39] Raising money – Karl explains the process of raising money from investors. [12.34] Deal structures – Karl explains the deal structures he typically recommends for entrepreneurs. [23.08] Bank loans – Grant and Karl discuss why bank loans are not always the best option. [31.44] Accredited Investor – Karl explains why raising money from an accredited investor is the easiest thing you can do. [33.25] Mistakes – Karl shares some common mistakes entrepreneurs make when they raise capital. [38.41] Innovators – Karl explains how innovation is one of the primary ways to make the world a better place. [44.45] Market competition –Karl and Grant discuss how market competition brings the best products to the world. Resources dakincapital.com/ linkedin.com/in/karldakin/ Karl's Newsletter https://www.linkedin.com/newsletters/7136372056836734976/ https://dakincapital.com/news

Index funds are popular investments and come highly recommended by many people. While they are generally a solid investment option, it is still important to have a prudent portfolio and process when making investment decisions for yourself. This week's episode of Grow Money Business is all about how to select index funds. Join as we discuss decision-making when investing, what we should look for in index funds, mutual funds & ETFs, and more. [05.38] Decision making – Grant shares some tips for making the best investment decisions for your portfolio. [13.22] Active management – Grant describes how the active management process works. [20.09] What to look for – Grant explains what we should be looking for in an index fund. [22.30] Mutual fund vs. ETF – Grant describes the difference between a Mutual Fund and an Exchange-Traded Fund. [30.25] Asset location – Grant shares some important notes about asset location, which is the fourth step of the portfolio in choosing an index fund. Resources What Are Index Funds? investopedia.com/terms/i/indexfund.asp Bid–ask spread en.wikipedia.org/wiki/Bid%E2%80%93ask_spread Asset Allocation vs. Security Selection: Their Relative Importance rpc.cfainstitute.org/en/research/cfa-digest/2013/05/asset-allocation-vs-security-selection-their-relative-importance-digest-summary

Social Security retirement benefits are crucial for millions of Americans, but the system and the formula for calculating benefits are complicated. After applying for Social Security payments, some individuals get a clawback letter stating that they owe the government money. On this week's episode of Grow Money Business, Dr. Laurence Kotlikoff returns to the show to discuss his new book 'Social Security Horror Stories,' which reveals the dark side of social security. Throughout the episode we discuss social security as a whole, the steps you need to take once you receive a clawback letter, and more. [07.06] Social Security Horror Stories – Laurence starts off the conversation by explaining how he came to write the book 'Social Security Horror Stories' with Terry Savage. [13.00] Stories – Laurence walks us through some of the horrific stories of people who were victims of social security nightmares. [24.51] Appealing – Grant and Laurence talk about the social security appeal process and what you need to look out for. [36.47] Taking action – Laurence shares his idea on why people are not taking action against the injustice of the Social Security Administration. [48.34] Advice – Grant and Laurence talk about why you should be hesitant take advice from anyone who works in Social Security. [57.08] Writing – Laurence talks about his writing career with Forbes Business magazine. [01.10.53] Personal security account system – Laurence explains how a personal security account system works. [01.21.26] Global market portfolio – Laurence expresses his thoughts on why he thinks the world's financial system is going to yield a good return over a long period. Resources maximizemysocialsecurity.com/ maxifiplanner.com/ Social Security recipients struggle to pay back agency after unexpected overpayments youtube.com/watch?v=sIYsZw0PtlI Social Security Horror Stories: Protect Yourself from the System -- and Avoid Clawbacks by Laurence Kotlikoff amazon.com/Social-Security-Horror-Stories-Clawbacks/dp/B0CMN3H4N7 Connect with Laurence Kotlikoff LinkedIn - linkedin.com/in/laurencekotlikoff/ Twitter - twitter.com/Kotlikoff Website - kotlikoff.net/

Since 2023 is coming to an end, we've dedicated this week's episode of Grow Money Business to discussing five year-end financial moves you should consider making. Join us as we talk about gifting both to charity and beneficiaries, cash distributions from businesses, Roth conversions, and harvesting tax losses and gains. [05.00] Charity – Grant starts off the conversation by discussing charitable gifts. [06.37] Donor-advised fund – Grant explains the details of a donor-advised fund. [12.00] Tax professional – Grant shares the importance of collaborating with your tax professional at the end of the year. [17.00] Roth conversions – Grant explains why it might be a good idea to convert your assets into a Roth IRA account. [26.04] The wash sale rule – Grant review the details of the wash sale rule. [29.18] Tax gains – Grant shares some important year-end information on tax gains. Resources How To Use the 0% Tax Rate on Capital Gains thebalancemoney.com/how-to-use-the-zero-percent-tax-rate-on-capital-gains-2388995 Donor-advised Funds irs.gov/charities-non-profits/charitable-organizations/donor-advised-funds fidelity.com/learning-center/wealth-management-insights/gift-and-estate-tax-changes

This week's guest on Grow Money Business is Alex Perny. Alex is a business development specialist at Advanta IRA, a leader in self-directed account administration. He is also the host of Advanta IRA's podcast, The Alternative Investment Advantage. For more than ten years, he has provided assistance to a large number of clients in their investment endeavors, specifically in the areas of precious metals, real estate syndications, private stock offerings, promissory notes, and various other alternative assets. Having extensive expertise in the domain of self-directed investing, he has delivered presentations to thousands of investors nationwide, elucidating the utilization of retirement plans for investment purposes beyond the realm of the stock market. Join us as we dive into Alex's career journey, Advanta IRA, alternative investments, prohibited transactions, and more. [06.01] Alex's story – Alex starts the conversation by walking us through his career journey and his role at Advanta IRA as a business development specialist. [12.10] Advanta IRA – Alex explains the history of an IRA & 401(k) and what Advanta IRA does. [18.12] Alternative investment – Alex discusses the process of starting an alternative investment in Advanta IRA. [29.45] Financing IRA properties – Alex shares some recommendations for financing IRA properties. [35.00] Prohibited transactions – Alex and Grant discuss things that you are not allowed to buy and the transactions that are prohibited when it comes to an IRA. [46.08] Penalties – Alex shares the penalties for violating prohibited transaction rules. Resources How a Self-Directed 401(k) or IRA Works investopedia.com/retirement/doing-it-yourself-selfdirected-401k-and-ira/ THE POWER OF A SELF-DIRECTED IRA advantaira.com/ Connect with Alex LinkedIn - linkedin.com/in/alex-perny-cisp-628b8a104/

Are you concerned about getting your non-public information compromised? We dedicated this week's episode of Grow Money Business to discussing what to do if your personal information is misplaced or compromised in some way. Join us as we dive into how people can take advantage of your personal information, both yours and banks' responsibilities to mitigate events like this from happening, the credit reporting agencies, how a credit freeze can be of help in a situation like this, how to improve your credit, and more. [05.31] Misplacing personal information – Grant starts the conversation by explaining what other people can do with your misplaced personal information. [10.31] Responsibility – Grant talks about what the banks do to stop fraud from happening and what you can do to help them. [12.24] Reporting agencies - TransUnion, Equifax, and Experian are the three credit reporting agencies in the USA. [18.00] Credit freeze – Grant explains how a credit freeze works, along with its advantages. [24.26] Equifax – We talk about the Equifax data breach in 2017, which exposed the personal information of more than 140 million US citizens. [32.27] Improve credit – Grant shares some steps you need to take to improve your credit. Resources Credit Freeze experian.com/freeze/center.html equifax.com/personal/credit-report-services/credit-freeze/ transunion.com/credit-freeze Identity thieves crack major Experian security flaw, access customer credit reports techradar.com/news/identity-thieves-crack-major-experian-security-flaw-access-customer-credit-reports annualcreditreport.com/index.action What Is a Credit Score? Definition, Factors, and Ways to Raise It investopedia.com/terms/c/credit_score.asp

This week's guest on Grow Money Business is Chris Younger. Chris is the CEO and co-founder of Class VI Partners, an investment bank in Denver, Colorado, specializing in assisting business owners in reaching their full potential during what is arguably the most difficult period of their lives. He is a graduate of Miami University and Harvard Law School and is also the author of the book 'Harvest: The Definitive Guide to Selling Your Company'. Chris joined us today to talk about the things to be aware of when you are planning on stepping out of your business, what the first steps are, growing value, mistakes you make, the impact of inflation and interest rates, and more. [05.00] Chris's story – Chris starts the conversation by sharing his career progression. [12.14] General wisdom – Chris shares some general wisdom for business owners when it comes to selling their businesses. [19.20] Less dependent – Chris and Grant discuss the importance of your business being less dependent on you as a business owner. [25.26] Landscape – Chris shares some important considerations for hiring a business broker. [34.21] Private equity – Chris and Grant discuss how the current higher rate of inflation and interest impact private equity behavior. [39.16] Timing – Chris discusses timing in selling a business: personal timing, business timing, and market timing. [43.23] Stories – Chris stresses the importance of in-depth planning for getting out of your business. Resources NAVIGATE FROM SCALABLE TO SALEABLE classvipartners.com/ Harvest: The Definitive Guide to Selling Your Company amazon.com/Harvest-Definitive-Guide-Selling-Company/dp/1432712306 ITR Economics itreconomics.com/

Do you struggle with interpreting financial disclosures and statements? If so, this week's episode of Grow Money Business is for you. We dedicated this episode to discussing a specific mailbag question, which is a guide to understanding financial disclosures and statements. Throughout the conversation, we dive into the framework for financial disclosures, the purpose of annual reports, how to interpret those as an employee, investor, owner, potential buyer, and more. [06.05] Money and capital – Grant starts the conversation by explaining how the process of growing a company works. [11.12] 10-K & 10-Q – Grant walks us through what is contained in the 10-K and 10-Q reports. [16.27] Stories – Grant talks about the gamesmanship to influence the stock price that aligns with the personal interests of a company. [22.54] Vista Outdoor Inc. – We dive into the details of Vista Outdoor Reports Second Quarter FY24 Financial Results. [30.37] Valuing a business – Grant explains what to look out for in an income statement if you are interested in valuing a business. [33.37] Balance sheet –Grant discusses the many roles of a healthy balance sheet. Resources Vista Outdoor Reports Second Quarter FY24 Financial Results thefishingwire.com/vista-outdoor-reports-second-quarter-fy24-financial-results/?mc_cid=98e55f781d THE BEGINNER'S GUIDE TO READING & UNDERSTANDING FINANCIAL STATEMENTS online.hbs.edu/blog/post/how-to-read-financial-statements Beginners' Guide to Financial Statement sec.gov/reportspubs/investor-publications/investorpubsbegfinstmtguide

The Corporate Transparency Act (CTA) is federal legislation in the United States that seeks to enhance transparency related to business ownership. The legislation was passed in January 2021 and gave rise to a new reporting obligation called the beneficial ownership information report, which is expected to be delivered in 2024. On this week's episode of Grow Money Business, Kenny Dettman returns to the show to talk about a wide range of details about the new legislation. Join us as we dive into what CTA is, who is eligible, who is exempt from it, reporting requirements, the penalties for not having the report, and more. [04.45] CTA – Kenny starts the conversation by defining the Corporate Transparency Act (CTA). [10.31] The reason – Kenny explains the reason behind the CPA legislation and how it's going to affect some types of businesses. [20.47] The impact – Kenny shares FinCEN's estimates of businesses that will be affected by the new legislation. [28.22] Deadline – Grant and Kenny discuss deadlines for filling out the BOI report. [40.15] Creating awareness – Kenny shares some ways people can learn about new and changed legislation. [48.00] Who should talk to you – Kenny explains who employers that run businesses under a revenue of $5 million should talk to about the new legislation. Resources Beneficial Ownership Information Reporting fincen.gov/boi Corporate Transparency Act: What Companies Need to Know corpgov.law.harvard.edu/2021/02/18/corporate-transparency-act-what-companies-need-to-know/ Connect with The FileForms Team PHONE: +1 (888) 515-FILE (3453) EMAIL: [email protected] WEB: https://fileforms.com/

The SECURE 2.0 Act of 2022 is a piece of legislation that passed at the end of last year and created new Roth options for business-sponsored retirement plans. There will be a new set of Roth features available for organizations that offer 401K, SEP IRA, or a simple IRA for their employees. Join us as we dive into the changes that you should know about, what additional Roth options you're going to have available at your disposal in the future, when people can expect to have these new features available, and whether it makes sense for you to offer them to your employees or take advantage of them for yourself. [05.50] A catch-up contribution – Starting the conversation, Grant explains the catch-up contribution and the changes that might happen in 2025. [10.40] The difference – Grant talks about the difference between the Safe Harbor 401(k) plan and the Safe Harbor non-elective Contribution. [16.50] (SEP) IRA & Simple IRA – Grant explains how Simplified Employee Pension and SIMPLE IRA Plans work. [23.12] Roth treatments – We discuss how Roth treatments can be a helpful tool for your employees that wasn't available before. [28.47] Opposites – Grant explains how Roth accounts are the exact opposite of deferred tax setups. Resources What You Need to Know About the SECURE Act 2.0 lordabbett.com/en-us/financial-advisor/insights/retirement-planning/what-you-need-to-know-about-the-secure-act-2-0.html SECURE 2.0 Act of 2022 Title I – Expanding Coverage and Increasing Retirement Savings finance.senate.gov/imo/media/doc/Secure%202.0_Section%20by%20Section%20Summary%2012-19-22%20FINAL.pdf Your Complete Guide to the SECURE 2.0 Act of 2022 adp.com/spark/articles/2023/04/your-complete-guide-to-the-secure-20-act-of-2022.aspx

Patrick Esposito is an entrepreneur, business executive, attorney, advisor, and author. He currently serves as president of ACME General Corp., a leading public-sector innovation advisory business based in New York, Austin, and Morgantown. He recently launched Initiative Labs LLC to help small and medium-sized business leaders. Over the course of more than two decades, he has founded, led, and advised small and medium-sized enterprises in technology, consulting, retail, banking, real estate, and other sectors, in addition to U.S. government agencies. He joined us today to talk about his book 'The Structure of Success: A Framework to Help Build Your Business Better' where he discusses the eight levers of long-term business success that he identified working with many organizations. [03.32] Patrick's story – Starting the conversation, Patrick shares an introduction about himself, his career journey, and the lead to writing his book 'The Structure of Success.' [09.37] The Structure of Success – Patrick dives deep into the framework of his book. [14.38] Disasters – All kinds of disasters can affect a business. We talk about the factors, including disaster management and prevention, in Patrick's book. [21.42] The important things – You have to start doing the most important things for your goal rather than chasing the things that are less important to get to your goal. [29.17] The difference – Patrick explains how his book differs from other books about success in business. [37.00] Innovation – Patrick shares his idea about people repeatedly underestimating the importance of continuing innovation. [43.20] Productive worrying – When you are operating a business, worrying comes naturally. If you can direct your worry into productive worry, you can figure things out easily. Resources LinkedIn - linkedin.com/in/patrick-esposito/ Website - patrickesposito.com/ initiativelabs.com/ acmegeneral.com/ Book by Patrick The Structure of Success: A Framework to Help Build Your Business Better amazon.com/Structure-Success-Framework-Business-Better/dp/1639090185

We dedicated this week's episode of Grow Money Business to discussing inflation and how it might affect your retirement plan. Throughout the episode, we dive into technicalities in detail, research what the data tells us, incorporate this concept into your retirement planning, the 4% rule, Monte Carlo simulations, stocks and bonds in inflation, and more. Show Notes [05:44] 4% Rule – Grant starts the conversation by explaining the 4% rule for retirement and how it enables you to live comfortably. [14:55] Monte Carlo simulations - The Monte Carlo simulation is a mathematical method used to estimate the range of outcomes for a random process. This technique is used by computer systems to look at historical data and generate multiple possible outcomes from a single decision. [21:35] 3% rate of inflation – Grant explains how you can use a 3% interest-bearing account with the extra money from your pension and how it can be useful for future inflation. [31:45] Monte Carlo for retirement planning – Grant explains how useful Monte Carlo simulations can be for retirement planning. [35:24] Stocks and bonds – Grant describes how high inflation affects stocks and bonds. Resources How Sequence-Of-Inflation Risk Impacts Retirees Beyond Just Sequences Of Returns kitces.com/blog/sequence-of-inflation-risk-retirement-investment-monte-carlo-technology/ 4% rule about how much to spend each year of retirement no longer works, creator says usatoday.com/story/money/personalfinance/retirement/2022/05/20/retirement-4-percent-spending-rule-no-longer-works/50251755/

We are rapidly approaching the annual enrollment period for Medicare Advantage plans, and if you need to enroll, it's important that you have a thorough knowledge of Medicare before doing so. This week on the show, we are joined by Christian Worstell. Christian is an author, writer, journalist, and health insurance specialist for helpadvisor.com, where he writes and publishes content about public health systems for anyone over 65. Throughout the conversation, we dive into Medicare enrollment, eligibility, enrollment windows, the differences between parts A, B, and D, and more. [04.51] Medicare – Grant and Christian start the conversation by defining Medicare and it's two sectors. [12.39] Initial enrollment – Christian explains the initial enrollment process for Medicare and what happens if you fail to enroll during that period. [19,35] Social Security and Medicare – Grant and Christian talk about how social security affects the automatic enrollment in Medicare. [25.05] Advantage vs. supplemental – Christian describes the key differences between Medicare Advantage and Medicare Supplemental. [31.50] Medigap – Grant and Christian discuss what happens when you decide to disenroll or change your Medigap plan. [39.50] Original Medicare – Christian describes the geographical advantage you have if you choose an original Medicare plan. [45.11] Mistakes – Christian shares some top mistakes people make when enrolling in Medicare. [50.00] Status – Grant and Christian discuss the current status of Medicare. Resources helpadvisor.com/ medicaresupplement.com/ medicareadvantage.com/

This week's episode of Grow Money Business is all about US government debt. We dive into this from the perspectives of investors, the government, and the citizens of the US. Join us as we discuss using T-Bills as an alternative to cash in your bank account, the purpose of an emergency fund, TIPS and I-bonds, the US dollar as the reserve currency, and more. [05.38] Using Treasury bill – Grant starts the conversation by explaining how T-Bills work as an alternative to cash in your bank account. [09.56] Emergency fund – Grant shares why you shouldn't take too much from an emergency fund and lock it up over a long period of time. [14.25] TIPS and I-Bonds – Grant explains why neither I-bonds nor Treasury Inflation-Protected Securities comprise a huge portion of all the US government debt. [21.22] US federal debt – We discuss the current condition of US federal debt and what will happen in the future if this behavior continues. [30.00] The reserve currency – US dollar is the reserve currency in the world. Grant shares what will happen if the status of the US dollar is threatened as the reserve currency. Resources treasurydirect.gov/ Treasury Inflation Protected Securities (TIPS) treasurydirect.gov/marketable-securities/tips/ Federal Debt: Total Public Debt as Percent of Gross Domestic Product fred.stlouisfed.org/series/gfdegdq188S Debt-to-GDP Ratio: How High Is Too High? It Depends stlouisfed.org/open-vault/2020/october/debt-gdp-ratio-how-high-too-high-it-depends

This week on Grow Money Business our guest is Jeff Trapp, who is a tax strategist and the founder of Tax Planning Pros. Jeff has devoted his career to assisting business owners in reorienting their perspectives towards their taxes, their companies, their wealth, and the legacy they will leave behind. He has saved clients thousands of dollars through innovative tax tactics and preparation. Jeff joined us today to talk about top tax planning strategies for business owners, common mistakes, how to reduce your chances of getting audited, general tax savings tips, and more. [05.35] The importance of tax planning –Jeff starts the conversation by explaining the importance of tax planning. [13.24] Oil & gas investing – Jeff explains the benefits of oil and gas investing. [17.56] Common mistakes – Grant and Jeff discuss some of the most common mistakes people make. [21.01] Clean books – Grant and Jeff describe the importance of keeping clean books and records when it comes to calculating correct deductions. [32.41] Tax laws – Jeff shares his opinion on planning long-term perspectives with constantly changing tax laws [38.15] The future – Jeff describes his vision for helping business owners create additional cash flow and create a long-term wealth legacy for them and their families. Resources Connect with Jeff LinkedIn - linkedin.com/in/jeffntrapp/ Facebook - web.facebook.com/TaxPlanningPros/ Podcast - podcasts.apple.com/us/podcast/the-jeff-trapp-podcast/id1628629412 Website - thetaxplanningpros.com/

Annuity policies are relatively popular ways to guarantee income in retirement. But do you know how and when to get out of an annuity policy if you find it's not the best option for you? We dedicated this week's episode of the Grow Money Business podcast to discussing the situations where it makes sense to start an annuity, where it is a good thing to hang on to your current annuity, and when you should think about getting out of your annuity. [05.55] Forms of annuities – Starting the conversation, Grant explains some forms of annuities and how they work. [12.15] Expenses – Grant explains why variable annuity accounts are more expensive than mutual funds. [21.03] Control – We talk about the less control you have over your cash once you hand it over to the insurance company and what you have to keep in mind if you ever think of getting out of your annuity. [27.21] Surrender charges – Grant explains what you should look into when you are in the surrender period of your annuity. [32.54] Tax ramifications – Grant shares how tax ramifications are more complicated than surrendering the annuity policy. Resources Breaking Down Annuity Fees and Charges smartasset.com/retirement/annuity-fees Annuity Fees and Commissions annuity.org/annuities/fees-and-commissions/ Annuity Surrender Periods: Understand (and Avoid) Surrender Charges thebalancemoney.com/annuity-surrender-period-charges-and-tips-to-pay-less-315092

It's Mailbag Day! We are back with one of our rare episodes where we answer questions from our listeners. Join us as we dive into selected three questions from our mailbag: whether annuities make more sense today because interest rates are a little higher, how to determine whether your financial plan is actually working for you and whether we should be concerned about the stock market with the news that Michael Berry has just placed a lot of money in short positions, betting against it. [03.22] Annuities – Starting the conversation, Grant defines both annuities and the most basic form of annuity, which is called a single premium immediate annuity. [08.52] Interest rates - Grant explains why he thinks that higher interest rates don't make annuities more attractive than before. [15.18] Financial plans – Life evolves. You have to revisit the plans you previously made and make sure they are suitable for the current changes in your life. [20.16] The Confidence - To have a successful financial plan everybody in your house should feel confident about where you are heading and what you are doing. [23.37] The Big Short - Michael Lewis's best-selling book of the same name was adapted into a 2015 Oscar-winning film titled The Big Short, based on the collapse of the housing bubble in 2007 and 2008. [31.22] Shorting the Market – Grant shares his idea of Michael Burry shorting the market. Resources Understanding The Role Of Mortality Credits – Why Immediate Annuities Beat Bond Ladders For Retirement Income kitces.com/blog/understanding-the-role-of-mortality-credits-why-immediate-annuities-beat-bond-ladders-for-retirement-income/ What You Need To Know About Annuities And Interest Rates forbes.com/sites/bobcarlson/2023/01/19/what-you-need-to-know-about-annuities-and-interest-rates/?sh=6907d50c5061 Michael Burry, of 'Big Short' fame, just bet $1.6 billion on a stock market crash edition.cnn.com/2023/08/15/investing/michael-burry-stock-market-crash/index.html Michael Burry is Shorting the Market (Again) and Selling These 10 Stocks finance.yahoo.com/news/michael-burry-shorting-market-again-210648498.html

We dedicated this week's episode of Grow Money Business to answering an age-old question: Should you view your house as an investment? Join us as we dive into the arguments for and against this consideration, as well as some specific circumstances in which you should or shouldn't consider your house an investment. [03.22] Equity – Grant starts the conversation by explaining how you can build equity by considering your house as an investment. [08.20] Budget & Savings – We dive into why we shouldn't confuse a housing budget with investment savings. [13.40] Is This Right for You? – Real estate investments are not for everyone. Grant shares some important considerations when deciding if this is right for you. [17.33] Foundation – Grant discusses what might be the best decision regarding house investments based on your background. [22.40] Affordability – Grant explains the current condition of the housing market. Resources Experts say you shouldn't consider your home an investment, but I disagree for 5 reasons businessinsider.com/personal-finance/reasons-consider-home-an-investment-2021-11 Is a primary home an investment or just a predictable place to live? themortgagereports.com/49267/is-a-primary-home-an-investment Topic No. 701, Sale of Your Home irs.gov/taxtopics/tc701

We dedicated this week's episode of Grow Money Business to inflation. A few years ago, inflation was incredibly low, but for the past 15 months, it has made its presence known in a constantly positive way. Join us as we dive into the current inflation numbers, why we need to pay attention, what we can expect with the inflation, a possible recession in the future, and more. [04.28] Measuring inflation – Grant starts the conversation by explaining how the government measures inflation. [09.26] Interest rates – We talk about how increasing interest rates typically slows inflation. [14.08] Deflation – Grant shares why a little bit of inflation is good for the economy [20.02] The impacts –Grant dives into the impacts of higher interest rates. [27.01] Corporate real estate – Grant explains what might happen with large commercial real estate loans when the interest rates reset. [31.50] Possible recession – We dive into the possibility of a future recession because of the high interest rates. Resources Consumer Price Index bls.gov/cpi/ Rates Are Up. We're Just Starting to Feel the Heat. wsj.com/personal-finance/interest-rates-investing-mortgage-banks-real-estate-debt-ca87c251?mod=economy_lead_pos1 Job Gains Eased in Summer Months; Unemployment Increased in August wsj.com/economy/jobs/jobs-report-august-today-unemployment-economy-de847415 The Generational Paradigm Shift Taking Over Markets wsj.com/finance/investing/the-generational-paradigm-shift-taking-over-markets-e1e7d4e6

We dedicated this week's episode of Grow Money Business to the Monte Carlo simulation. When multiple outcomes are possible due to the presence of random variables, a Monte Carlo simulation can be used as a model to forecast their probabilities. Join us as we dive into what Monte Carlo simulation is, where it comes from, the assumptions that are used in this kind of analysis, and how much trust we can put in these kinds of analyses when we are making decisions regarding retirement. [04.31] 4% withdrawal rule – Grant starts the conversation by explaining how the 4% withdrawal rule works. [08.46] eMoney Advisor – Grant dives into eMoney Advisor, a leading provider of technology solutions and services that help people talk about money. [17.16] Success versus failure – Grant shares his thoughts on the "chances of success" versus "chances of failure" feature of the Monte Carlo simulation. [23.03] Form of analysis – Grant talks about the importance of not relying solely on Monte Carlo simulations, but also looking at things like cash flow implications and tax ramifications. [27.01] Different options – Grant explains how to sort out the best form of analysis according to your background. Resources Monte Carlo Simulation — A Practical Guide towardsdatascience.com/monte-carlo-simulation-a-practical-guide-85da45597f0e Opinion: Should you use a Monte Carlo simulation to determine if your retirement savings will last? marketwatch.com/story/should-you-use-a-monte-carlo-simulation-to-determine-if-your-retirement-savings-will-last-11611607222 The Problems With Monte Carlo: Why Simulations May Not Predict Your Success in Retirement bairdretirementmanagement.com/insight-articles/the-problems-with-monte-carlo-why-simulations-may-not-predict-your-success-in-retirement/ Video Suggestions [08.46] And the program that we use …………… returns might be.

This week's episode of Grow Money Business is all about the bond market and how it changes with inflation, high-interest rates, and an inverted yield curve. Join us as we dive into the yield curve, a possible recession in the future, money market funds, the TED spread, and more. [06.12] The yield curve – Grant starts the conversation by defining the yield curve and the reasons we care about it. [12.23] Recession – Grant shares his thoughts on the possibility of a recession. [16.50] Money Market Funds – Grant describes difference between Money market mutual funds and other money market funds. [21.37] TED Spread – Grant discusses how to a good measure of US credit risk by looking at the difference between LIBOR and T-Bills. [28.15] Bonds – Grant shares the importance of having bonds in a negative economic environment. Resources US Treasuries Yield Curve ustreasuryyieldcurve.com/ TED Spread - Historical Chart macrotrends.net/1447/ted-spread-historical-chart Current US Inflation Rates: 2000-2023 usinflationcalculator.com/inflation/current-inflation-rates/

We dedicated this week's episode to the ongoing news about the student loan system in the US. According to the US Department of Education, the president announced new actions to provide debt relief and support for student loan borrowers. Join us as we dive into the current situation regarding student loans, what the changes to the federal student loan system are going to be, income-driven payment plans, Federal Pell Grants, public service loan forgiveness, and more. [06.40] Income-driven payment plans – Starting the conversation, Grant explains income-driven payment plans and how it works. [11.42] Repayment plans - Income contingent repayment, Income-based repayment, pay as you earn, and revised pay as you earn are the four repayment plans for student loans. [12.37] Federal Pell Grants – We discuss what happened to Pell Grants, which were awarded only to undergraduate students who displayed exceptional financial need. [18.57] SAVE repayment plan – Grant explains how the SAVE repayment plan works and how it can be a tremendous help to people. [23.00] Public service loan forgiveness – We dive into how the public service loan forgiveness option works, which is based on employment in a public service job. [28.00] Recertifying income – Grant shares the importance of recertifying your income if you are in a student loan repayment plan and what happens if you fail. Resources FACT SHEET: President Biden Announces New Actions to Provide Debt Relief and Support for Student Loan Borrowers ed.gov/news/press-releases/fact-sheet-president-biden-announces-new-actions-provide-debt-relief-and-support-student-loan-borrowers Income-Driven Repayment (IDR) Plan Request studentaid.gov/idr/ How the New SAVE Plan Will Transform Loan Repayment and Protect Borrowers ed.gov/policy/highered/reg/hearulemaking/2021/idrfactsheetfinal.pdf

It's been in the news recently that the rating was downgraded from the highest possible level of AAA to the next level down, AA+, by one of the three major independent organizations that evaluate creditworthiness in the US. We dedicated this week's episode of the Grow Money Business podcast to discussing what the US Debt Downgrade Means for Stock and Bond Markets. [03.13] The bond market – Starting the conversation, Grant explains why the bond market is way larger than the stock market. [10.24] US government debt – We talk about why it is safe to buy US government debt. [22.13] Has this happened before – We dive into the last time that the US government debt was downgraded. [29.00] Investment mandates – Grant shares his knowledge about the investment mandates regarding the US government debt. [38.49] The fault of the system - More debt means higher interest rates and a greater percentage of annual tax revenues going toward debt servicing. Resources Credit downgrade shocks Biden aides, as more debt fights loom washingtonpost.com/business/2023/08/02/us-credit-rating-fitch-downgrade-debt/ U.S. debt downgrade sinks global markets — but economists are not concerned cnbc.com/2023/08/02/us-debt-downgrade-sinks-global-markets-but-economists-are-not-concerned.html America's credit rating got downgraded again. Here's what happened the last time edition.cnn.com/2023/08/02/investing/premarket-stocks-trading/index.html

This week's episode is all about Artificial Intelligence. Of all the new technologies that have been introduced to the world, AI seems to be the turning point for us. In this episode, we discuss what we think about AI, investing in AI, the possibility of AI technology getting out of hand, and more. [01:55] Open AI – Grant starts the conversation off by explaining open AI and the importance of open source. [05:32] Chat GPT – Grant shares his thoughts on ChatGPT and describes it's capabilities. [09:22] Invest in AI – Grant shares some ways you can invest in AI. [16:30] The Right Investment– Grant talks about the importance of selecting the right investment if you are hoping to invest in AI. [22:18] Superior Approach – Grant shares his thoughts on investing in value and stepping away from growth. Video Suggestions [01.55] Open AI is a company ……………….. such a technology. [06.31] One of the issues …………………… controls that program.

The SEC has just voted to make changes to the regulatory landscape that money market mutual funds must abide by. We dedicated this week's episode to talking about cash savings options and money market mutual funds. Join us as we dive into money market mutual funds, stress testing, swing pricing, the current state of the money market, and more. [03.18] Money market mutual funds – Grant starts the conversation by defining money market mutual funds and how different they are from other mutual funds. [08.34] How they work – Grant walks us through how money market mutual funds work. [15.36] Stress testing - A bank stress test analyzes a bank's capital to see if it is capable of withstanding an economic or financial crisis. [23.16] The SEC – Grant explains why the US Securities and Exchange Commission is looking to make more improvements to the money market fund landscape. [25.00] Swing pricing – Grant defines swing pricing, and shares why it's relevant. [31.03] The cash – Grant talks about the difference between putting your money in a money market mutual fund and a local credit union savings account. Resources What Is an Advantage of Liquidity? sapling.com/12011796/advantage-liquidity U.S. Takes Third Shot at Shoring Up Money-Market Funds wsj.com/articles/u-s-overhauls-money-market-fund-rules-in-latest-attempt-to-prevent-bailouts-2f0f2925 US SEC removes 'swing pricing' from money market fund overhaul plan, Bloomberg reports reuters.com/markets/us/us-sec-removes-swing-pricing-money-market-fund-overhaul-plan-bloomberg-news-2023-07-12/

Insurance is something that we consider unnecessary but that happens to be very useful in certain circumstances. Business owners take a lot of risks every day. Insurance is designed to transfer those risks to them in exchange for affordable monthly, quarterly, or annual premium insurance plans. Today on the show, Grant talks about the top five insurance coverages that business owners should at least consider. [03.20] A business decision – Starting the conversation, Grant shares why it does make sense to have insurance for your business. [08.10] Umbrella Personal Liability Policy - An additional liability coverage that exceeds the insured's residential, auto, or other liability coverage limits. [15.01] Business owners' policy - A business owner's policy provides protection against all significant property and liability hazards in a single insurance policy. Grant explains what types of insurance come under this policy. [22.03] Disability insurance – Grant explains short-term and long-term disability insurance coverage. [28.26] Definition of disability – We talk about how the definition of disability changes according to your profession.

This week's episode is all about Bitcoin ETFs. It has been in the news recently that the biggest investment management companies have submitted new filings to bring spot Bitcoin ETFs to market. In this episode, we dive into the current state of Bitcoin, why we should pay attention to the Bitcoin ETF filings, and whether it's safe or not to invest in them. [03.04] What's on the market – Starting the conversation, Grant shares the existing Bitcoin ETFs at the moment and the difference between a mutual fund and an ETF. [07.37] Closed-end fund – Grant shares the reason why GBTC closed-end funds are interesting. [16.26] Cryptocurrency Futures – Grant shares how futures contracts work and what happens when the contract expires. [21.08] The reliability – We talk about the reason why the US Securities and Exchange Commission hasn't approved any of the filings for spot Bitcoin ETFs. [24.55] If it happens – Grant shares his ideas on the current Bitcoin ETF companies and how you can purchase Bitcoin if the Spot ETF comes out. Resources Probability for U.S. Approval of a Spot Bitcoin ETF Is Fairly High: Bernstein coindesk.com/policy/2023/07/03/probability-for-us-approval-of-a-spot-bitcoin-etf-is-fairly-high-bernstein/ THE ARRIVAL OF BLACKROCK: BITCOIN'S FIRST SPOT ETF bitcoinmagazine.com/markets/the-arrival-of-blackrock-bitcoins-first-spot-etf

This week's episode of Grow Money Business features Lee Phillips. Lee is a US Supreme Court counselor and Federal Tax Court attorney, specializing in asset protection using business structures like LLCs. He is the founder of LegaLees Corp., a company specializing in solving asset protection and tax problems for high-net-worth individuals. He has delivered over 3,000 event speeches across the United States, Canada, and the Pacific Rim as one of the country's most captivating and energetic presenters. More than a million people have benefited from his assistance in understanding the law and using it to increase income and safeguard assets. Join us as we dive into the genesis of LLCs in the United States, legal principles that originated in Europe in the 1400s, how they apply in today's context, and what we should look into when protecting assets. [02:26] Lee's journey – Lee shares his journey to becoming a Federal Tax Court Attorney. [12:37] Asset protection – Lee explains the reason behind having an asset protection plan. [19:24] The charging order – Grant and Lee dive into the story of the charging order. [33:30] LLC for real estate – Lee explains why we cannot manage the extreme number of LLCs in the real estate industry. [42:27] LegalZoom – Lee shares his opinion on utilizing LegalZoom. Resources legalees.com/grant legalees.com

This week's episode of Grow Money Business features Dionne Perry. Dionne is an author, speaker, and board-certified Credit Consultant. Dionne has created Credit-Lit Ambassador programs to empower youth and train educators, counselors, community activists, financial advisors, and other adults on credit scoring processes. Join us as we dive into credit literacy, the FICO score, how to improve your credit score, how to handle credit disputes, and more. [06:03] Credit Literacy – Dionne starts the conversation by sharing the backstory of how credit literacy became her passion. [13:22] FICO score – Grant and Dionne discuss how a FICO Score evaluates a borrower's creditworthiness based on payment history, current indebtedness, types of credit used, credit history, and new credit accounts. [20:41] Improving Credit Score – Dionne shares some of the fastest and easiest ways to improve your credit score. [28:58] Credit Dispute – Dionne explains how the credit dispute process works. [36:14] The Importance – Grant and Dionne discuss the importance of your credit score and how it impacts everything in your life. Resources Good Credit - What It Is, How To Get It, and How to KEEP It! credit-lit.com Credit-Lit Credit 101 for Teens amazon.com/Credit-Lit-Credit-101-for-Teens/

This week's episode of Grow Money Business features Jay Zigmont. Jay is a wealth specialist, and the founder of Childfree Wealth, which is a financial planning firm specializing in working with people who are childfree and plan to continue being childfree in the future. Join us as we talk about Jay's philosophy on working with childless individuals and the difference in the financial planning process when you don't have kids. [06.40] Childfree – Jay starts the conversation by explaining the reason for choosing to work with people without children. [14.34] Advice-only approach – We talk about Jay's reason for choosing an advice-only approach and why it's a great fit for his work. [20.05] Assumptions – Grant and Jay discuss the assumptions and judgments people make when they meet a person who is childfree. [34.32] Shifting direction – Jay shares how they make their clients shift their direction from profit motive to social life motive. [40.00] Career choice – Jay shares why he chose to become an investment advisor to help people achieve their goals. [44.51] Advice – We go through Jay's advice for people who want to get into the financial industry. Resources Childfree Wealth https://childfreewealth.com/ Childfree Wealth Podcast https://childfreewealth.buzzsprout.com Free copy of the book Portraits of Childfree Wealth https://childfreewealth.com/book Connect with Jay LinkedIn - linkedin.com/in/jayzigmont/

This week's episode of Grow Money Business features Kenneth Dettman. He is the CEO and Managing Director at EZ-ERC. He is a highly technical CPA with extensive "big consulting" tax advisory experience and was recently named an official member of the Forbes Business Council. He is known as a pioneer in the Employee Retention Credit (ERC) industry, having successfully sourced and underwritten one of the first ERC tax insurance policies in the country. He joined us today to talk about the ins and outs of the employee retention tax credit, who qualifies and who doesn't, how much the credit is, and what to look for if you're considering filing a claim yourself. [02.40] Kenneth's story – Kenneth shares his career progression, after starting as an income tax advisor and then building EZ-ERC. [09.23] Paycheck Protection Program – Kenneth explains why you are not allowed to have both a PPP loan and the employee retention credit at the same time. [21.53] Partial suspension – Kenneth defines partial suspension. [29.40] The Right Way – Grant and Kenneth dive into the details of doing partial suspension the right way. [38.45] The Reasonable Cause Standard – Grant and Kenneth discuss the reasonable cause standard. [45.49] Handling Casework – Kenneth explains how they handle casework as practitioners when they don't have guidance from the IRS. [49.02] Worker Opportunity Credit – Grant and Kenneth discuss an incentive for employers to hire disadvantaged classes of employees. Resources IRS opens 2023 Dirty Dozen with warning about Employee Retention Credit claims irs.gov/newsroom/irs-opens-2023-dirty-dozen-with-warning-about-employee-retention-credit-claims-increased-scrutiny-follows-aggressive-promoters-making-offers-too-good-to-be-true IRS issues renewed warning on Employee Retention Credit claims irs.gov/newsroom/irs-issues-renewed-warning-on-employee-retention-credit-claims-false-claims-generate-compliance-risk-for-people-and-businesses-claiming-credit-improperly The country's leading expert in the Employee Retention Credit ez-erc.com/ Connect with Kenneth LinkedIn - linkedin.com/in/kenneth-dettman-cpa/ Email - [email protected]

Today's episode of the Grow Money Business podcast is all about cash. Join us as we talk about what to do with the cash in your business, how much cash you need to have in your business, the appropriate time to take cash out of your account, how you should pay yourself as the business owner, how you can take cash out in a tax-sensitive manner, and more. [02.21] A rainy day fund – Starting the conversation, Grant explains the importance of having an emergency fund. [09.42] Extra Cash – How to Use Extra Cash Effectively [15.31] Setting a target – We discuss how to set a target for an upcoming large expense. [20.40] Pass-through entity – Grant explains how a pass-through entity works. [27.12] C corporations – We talk about what to do with extra cash when you are the owner of a C corporation. Resources How to Pay Yourself as a Business Owner nerdwallet.com/article/small-business/how-to-pay-yourself-as-a-business-owner Salary vs. owner's draw: How to pay yourself as a business owner quickbooks.intuit.com/payroll/salary-or-draw-how-to-pay-yourself-as-business-owner/ Traction: Get a Grip on Your Business by Gino Wickman amazon.com/Traction-Get-Grip-Your-Business/dp/1936661837

Section 1202 of the Internal Revenue Code, focusing on Qualified Small Business Companies (QSBs) and their Qualified Small Business Stock, holds the key to potential tax savings of up to $10 million in tax-free capital gains when structured correctly. While not every company qualifies, it's crucial to consider this provision when buying or selling a business, as it can be a game-changer! Today, let us unlock the immense potential it holds for prudent business owners seeking to navigate the complex realm of taxation and investment! [01:16] Maximizing Tax Benefits: Exploring the Potential of Section 1202 for Small Business Owners [03:56] Eligibility and Limitations: Understanding the Parameters of Section 1202 [08:05] Evolution of Exclusions: The Historical Development of Section 1202 [09:54] Direct Acquisition and Compensation: Requirements for Tax-Free Capital Gains [12:21] Unlocking Growth Potential: Harnessing Section 1202 for Angel Investors and Employee Incentives [14:32] Maximizing Tax-Free Gains: Limits and Strategies under Section 1202 [16:50] Navigating Taxable Income: Considerations and Strategies for Share-Based Compensation [19:13] Tax-Free Growth: Exploring Opportunities for Equity Investments and Future Exits Resources: Understanding the QSBS Tax Exemption: northerntrust.com/united-states/institute/articles/understanding-the-qsbs-tax-exemption A Lavish Tax Dodge for the Ultrawealthy is Easily Multiplied: nytimes.com/2021/12/28/business/tax-break-qualified-small-business-stock.html Qualified Small Business Stock (QSBS) Definition and Tax Benefits: investopedia.com/terms/q/qsbs-qualified-small-business-stock.asp

This week's show is all about dividend investing, which is a popular investment strategy amongst a lot of people. In the episode, we discuss what dividend investing is, where the cash comes from, and alternatives for management, such as whether to pay dividends or hang on to the cash. We also pay attention to why the strategy can seem misplaced. [01:50] Dividend investing – Grant starts off the conversation by defining dividend investing. [09:22] Growth and value companies – Grant shares some different growth and value companies that have growing revenues and profits at an above-average rate. [13:35] The dividend yield – Grant explains what happens when the dividend yield becomes too high. [23:18] Paying a dividend yield – Grant shares the reason for value companies to pay a dividend yield. [29:15] Dividend stock – Grant explains why it's advantageous to have some exposure to dividend stock. [35:00] Share repurchases – Grant shares why repurchasing shares is beneficial to shareholders and why a lot of politicians are not happy with it.

If you're currently searching for financial assistance, you're likely aware that there is a wide array of practitioners available to help you. However, not all financial professionals are the same—they possess different expertise, work in diverse ways, and are compensated differently. In today's episode, we walk you through what you should look for in a financial advisor, exploring the factors that will help you choose a professional who aligns with your goals and priorities. By the end of this episode, you'll have a clearer understanding of what to look for, enabling you to confidently navigate the search for financial help. [00:58] Decoding the Financial Puzzle: Grant unravels the benefits of hiring a financial professional. [04:33] Unlocking Financial Potential: Grant discusses the power of professional guidance and expertise. [10:35] The Evolution of Financial Professionals: Grant describes how the role of a financial professional shifted from stockbrokers to fiduciary advisors over time. [07:52] Choosing a Fiduciary: Grant stresses the importance of seeking out financial guidance that puts your interests first. [17:03] Mechanism of Compensation: Grant discusses exploring Fee-Only vs. Fee-Based models, and shares some of their implications. [24:42] Evaluating Skills and Experience: Grant outlines the qualifications and experience we should seek in a financial professional. [31:13] Final Tip: Grant shares one final tip on the importance of understanding service models. Resources: Mentioned in the episode: CFP Professional: cfp.net/get-certified/certification-process CFA Program: cfainstitute.org/en/programs/cfa Investment Adviser Public Disclosure: adviserinfo.sec.gov/ Company Retirement Plans: abovethecanopy.us/the-ultimate-7-step-checklist-for-hiring-a-financial-advisor/

In the past few weeks, we have been in a banking environment where lenders are running into problems that started at Silicon Valley Bank six weeks ago. Today on the show, we are going to talk about the situation of the banks, the risks, and, more importantly, what you should do if you are concerned about the viability of your bank. We will also cover FDIC insurance, what's covered and not covered in it, the limits on different types of accounts, the difference between banks and credit unions, a few strategies you can use to protect your cash, and more. [04.43] Silicon Valley Bank – Starting the conversation, Grant explains what happened to Silicon Valley Bank in a nutshell and why its customers are at risk. [11.50] FDIC insurance – We discuss why we shouldn't rely on the FDIC or the federal government to cover insurance above $250,000. [17.42] The rules – Grant dives into the rules of FDIC insurance. [24.37] Other institutions – Grant shared why he is not a fan of other institutions like JPMorgan Chase & Co. and Wells Fargo. [31.44] Office buildings – We talk about how office buildings' value is falling dramatically in commercial real-estate space. [35.28] SIPC - Securities Investor Protection Corporation is the brokerage affiliate of the FDIC. Resources Fed report blames SVB execs — and itself — for bank's failure msn.com/en-us/money/other/fed-report-blames-svb-execs-and-itself-for-bank-s-failure/ar-AA1aufuL Deposit Insurance At A Glance fdic.gov/resources/deposit-insurance/brochures/deposits-at-a-glance/

The debt ceiling has made its way into the news recently, with reports saying that the USA has reached the federal debt limit. In today's episode, Grant is going to discuss what the debt ceiling is, the reason for having a debt ceiling in the USA, and what kind of consequences there will be if the government is unable to come to an agreement. [04.18] The debt ceiling – Starting the conversation, Grant explains the reasons why only a few countries in the world have debt ceilings. [10.43] Removing debt ceiling – Grant shares why he thinks the debt ceiling should be removed. [16.00] Run out of money – We talk about what happens when the US government runs out of money. [22.40] The last time – We talk about what happened the last time when the debt ceiling passed the limit. [27.15] Stability – Grant explains why 50–60% of the world's trade transactions happen in US dollars. Resources White House regroups after McCarthy's debt ceiling success – politico.com/news/2023/04/27/white-house-regroups-mccarthy-debt-ceiling-success-00094273 Explaining the U.S. Debt Limit and Why It Became a Bargaining Tool – nytimes.com/2021/09/27/us/politics/us-debt-ceiling.html The fight over the debt ceiling could sink the economy. This is how we got here – npr.org/2023/03/23/1163448930/what-is-the-debt-ceiling-explanation

So much of running a successful business is related to an entrepreneur's mindset. This week on Grow Money Business, we are joined by Alicia Cramer, who is a business mindset expert, a certified hypnotherapist, and a metaphysical practitioner. Alicia is also a sales and marketing consultant with an extensive business development background who helps small business owners manage their own mindsets and set themselves up for success. Alicia joined us today to talk about some of the tools she uses, the psychology and physiology behind why they're important, and some of the tips you can use to optimize your mind and maintain it for long-term success. [05.22] Focusing on small businesses –Alicia starts the discussion with sharing her journey to becoming a business mindset coach and hypnotherapist. [12.52] Therapeutic methods – Grant and Alicia discuss some of the methods that helped Alicia overcome past traumatic experiences. [22.14] EFT – Alicia defines the Emotional Freedom Technique and describes how it works. [27.46] Hypnotherapy vs. Normal Therapy – Alicia explains the difference between hypnotherapy and normal therapy. [36.35] Simple tools – Alicia discusses some common self-improvement tools and shares some tips for finding the best options that work for you. [48.50] Imposter syndrome – Grant and Alicia close the discussion by discussing imposter syndrome, how it may affect business owners, and how to overcome it. Resources Connect with Alicia Website - aliciacramer.com/ LinkedIn - linkedin.com/in/aliciacramer/

Recently, there has been a rumor circulating that the US dollar is losing its status as the reserve currency. In this week's episode of Grow Money Business, we discuss the security of the US dollar remaining the world's reserve currency, the background of the concerns, the macroeconomics of the situation, and more. [04.18] World's reserve currency – Grant starts the conversation by explaining the economic benefit of residing in a country that has the world's reserve currency. [06.25] US dollar in the world – We discuss some of the reasons why the world deals in US dollars. [12.39] Central banks – Grant explains why other countries' central banks are borrowing US dollars. [18.10] Holding the US dollar – We discuss the reasons other countries hold the US dollar. [26.23] Losing reserve currency status – We discuss what will happen if US dollars lose their status as the world's reserve currency. Resources The U.S. Dollar as the World's Dominant Reserve Currency – crsreports.congress.gov/product/pdf/if/if11707 US Dollar Share of Global Foreign Exchange Reserves Drops to 25-Year Low – imf.org/en/Blogs/Articles/2021/05/05/blog-us-dollar-share-of-global-foreign-exchange-reserves-drops-to-25-year-low Foreign Exchange Reserves: What They Are, Why Countries Hold Them – investopedia.com/terms/f/foreign-exchange-reserves.asp

In this week's episode, our guest is Rachael Burns. She is a certified financial planner and a certified divorce financial analyst. She helps women navigate the financial intricacies of divorce and widowhood. Rachel is the proprietor and financial planner at True Worth Financial Planning. She joined us today to share her wisdom about the financial implication of getting a divorce and some things women need to keep in mind before entering that phase, especially business owners. [04.47] Repeating mistakes – Starting the conversation, Rachael explains some of the common mistakes women make when going through a divorce. [15.51] Community property states – Rachael explains community property. [25.37] Common misconception – We go through the common misconceptions people have regarding getting financial advice from their attorney and why the advice is better when everyone stays in their lane. [38.07] Focusing on women – Rachael shares why she was focused on women in general instead of newly single women at first. [45.34] Stable income – We dive into how easy it is to go through starting a new business if your partner has a stable income because doing startups means taking risks. [50.50] Needs of the client – Rachael walks us through how her profession can make sure to fulfill the needs of her clients herself instead of being limited to tools when working for another big firm. Resources Connect with Rachael: LinkedIn - linkedin.com/in/rachaelvburns/ Website - trueworthfp.com/ xyplanningnetwork.com/

This week's episode of the Grow Money Business podcast features Dohn Thornton. He is a specialist in estate planning and joined us today to share his specific strategy to help business owners and real estate investors minimize taxation on their assets. Throughout the conversation, we cover Dohn's background, the copyright story of the trust, the leaseback strategy, state taxes, and more. [03.52] Dohn's background – We start the conversation with a brief introduction to Dohn's background. [14.52] The copyright – We go through the story about the copyright of the trust. [25.25] Leaseback strategy – Dohn defines the leaseback strategy and how it works. [35.51] Own expenses – Dohn explains how the trust pays a third party in terms of the expenses of the trustee. [44.31] State taxes – Dohn dives into how Internal Revenue Code Section 501(c)(3) relates to state taxes in the USA. Resources This FREE eBook Will Potentially Save You Hundreds Of Thousands Of Dollars Or More On Your Taxes thespendthrifttrust.com/ Connect with Dohn LinkedIn - linkedin.com/in/dohn-thornton-26863b184/ Website - dohnthornton.now.site/home

This week's episode of the Grow Money Business podcast features Wendy Barlin. She is an accountant for a CPA and worked in different accounting firms before starting her own firm after her move to Los Angeles. In today's conversation, we talk about minimizing business owners' taxation, handling cash, entity structure, and more. [02.22] Wendy's background – Starting the conversation, Wendy shares her story of moving to America in 1997 and how she worked hard to start her own firm. [06.37] Reasonable compensation – Wendy defines reasonable compensation and how she helps people decide a reasonable compensation on the basis of industry to industry. [14.34] Distributing cash – We talk about how business owners should think about taking money out of their business account and putting that cash on a personal bank account. [23.29] Collaborating – Wendy shares how she collaborates with her clients. [30.00] Attracting newcomers – We talk about why attracting newcomers to the accounting industry is a challenge. [37.11] Observations – Wendy shares her observations of the financial advisory industry at present. Resources Book by Wendy Barlin NEVER BUDGET AGAIN: 5 Simple Strategies to Manage Your Money Without a Budget Kindle Edition https://www.amazon.com/dp/B08CT37DB1/ref=sr_1_1 That's Deductible!: Simple Tips and Tricks to Find More Business Tax Deductions amazon.com/Thats-Deductible-Simple-Business-Deductions/dp/1692760025/ref=sr_1_1 https://wendybarlin.com/

This week's episode is all about the Silicon Valley Bank failure, which works primarily with startups. Throughout the episode, Grant discusses everything that happened in the bank, the reasons behind it, and how we should be careful about the situation as investors, depositors, or users. [05.27] Signs of stress – We start the conversation by sharing the reasons why Silicon Valley Bank is in trouble. [13.25] The mistake – Grant explains the mistake Silicon Valley Bank made by going out on the maturity curve. [20.25] Creative ways – We talk about different creative ways that can be used to get out of the current situation. [26.45] Moral hazard – A moral hazard takes place when one side in a transaction has the chance to take on additional risks that are bad for the other party. [35.00] SIPC – Grant explains how securities investor protection works in a bankruptcy situation. [42.38] FDIC limitation – We discuss the reason for the federal government to limit banks from growing into massive entities. Resources: Easy Loans, Great Service: Why Silicon Valley Loved Silicon Valley Bank – wsj.com/articles/easy-loans-great-service-why-silicon-valley-loved-silicon-valley-bank-6b3f203e New Questions About Goldman Sachs's Work With Silicon Valley Bank – nytimes.com/2023/03/15/business/goldman-svb-silicon-valley-bank.html

Since we are in the middle of tax season, this week's episode of the Grow Money Business Podcast is dedicated to basic tax principles for business owners. Throughout the episode, we dive into the difference between credit and deduction, common misconceptions about tax brackets, cash accumulation, and more. [06.10] Credit vs. deduction – Starting the discussion, Grant explains the difference between a credit and a deduction. [11.05] Misconception – We go through the most common misconception regarding tax brackets and why people need to be aware of it. [15.19] Business owners – Business owners being insecure about taking cash out of their business account for fear of additional taxation is one of the biggest misconceptions, says Grant. [23.04] Cash accumulation – Grant explains the reason for cash accumulating in business accounts and the effective uses of that kind of cash. Resources: A Tax Guide for Small-Business Owners – nerdwallet.com/article/small-business/small-business-tax-preparation 2022 complete list of small-business tax deductions – quickbooks.intuit.com/accounting/small-business-tax-deductions/

Investing is good, especially for young people. But they have to be careful about where they invest their money. There seems to be a growing number of young people who are interested in technical analysis by following social media videos without a fundamental grounding. In this week's episode of the Grow Money Business podcast, Grant discusses his thoughts on technical analysis and its place today. [03.16] Technical analysis – Starting the conversation, Grant explains technical analysis and how people often overlook its legitimacy. [10.55] Choosing securities – Grant shares the risk of choosing securities based only on technical analysis. [18.06] Top-down approach – Grant walks us through the levels of the top-down approach for technical analysis. [22.50] Investing – Grant shares his thoughts on the interest among young people to invest and what kind of risks await them if they don't evaluate what they are investing money for. Resources: Technical Analysis: What It Is and How to Use It in Investing – investopedia.com/terms/t/technicalanalysis.asp Technical analysis: Using historical patterns and group behavior to predict future moves in stocks and other assets – businessinsider.com/personal-finance/technical-analysis?op=1

This week's episode of Grow Money Business podcast is all about loans and cash. Throughout the episode, we discuss 401K plans, personal loans, credit cards, margin loans, home equity lines of credit, and more. [04.08] Personal loans - Starting the conversation, Grant defines personal loans and how they work in paying off your credit card. [08.00] HELOC – Grant explains the home equity line of credit and its advantages and disadvantages. [16.38] 401K plan – Grant dives deep into how 401K loans work, their advantages, and the unnecessary taxes and penalties that come with them. [19.00] Margin loans – We talk about margin loans and the implications that come with them. [29.20] Hypothecation – Grant defines hypothecation and what's happening behind the scenes. Resources What is a Margin Loan and How Does It Work? – supermoney.com/what-is-a-margin-loan-and-how-does-it-work/ 401(k) Loans: Reasons to Borrow, Plus Rules and Regulations – investopedia.com/articles/retirement/08/borrow-from-401k-loan.asp

Bitcoin and Ethereum are the two biggest cryptocurrencies in the world. They experienced a severe fall last year, but in the past couple of months, they have started to rebound. It's time to stay alert if you are interested in purchasing cryptocurrency ahead of time. This week on the show, we discuss whether it's a good idea to jump back into cryptocurrency, how to make a Bitcoin purchase, cryptocurrency as an alternative investment, the current state of El Salvador, and more. [06.26] Bitcoin transaction – Grant explains the effectiveness and efficiency of Bitcoin transactions, which are direct transactions through the world banking system. [14.22] Purchasing Bitcoin – Grant explains the process of purchasing cryptocurrency. [18.50] Alternative investment – Grant walks us through the areas we need to address and makes sure they are safe if we are to purchase cryptocurrency. [23.43] El Salvador: Grant explains how El Salvador became indebted to the tune of $800 million after accepting Bitcoin as legal currency. Resources: El Salvador says it paid maturing $800 million bond – apnews.com/article/cryptocurrency-politics-nayib-bukele-el-salvador-bitcoin-ba35f3d24c9e866e5dcd410e1eb456bd How Sam Bankman-Fried swindled $8 billion in customer money, according to federal prosecutors – cnbc.com/2022/12/18/how-sam-bankman-fried-ran-8-billion-fraud-government-prosecutors.html Coinbase - coinbase.com/ Kraken - kraken.com/ Bitcoin - bitcoin.org/en/ Ethereum - ethereum.org/en/

It's never too late or too early to make your kids save money because saving today is an investment in the future. In this week's episode of the Grow Money Business podcast, Grant talks about the financial lessons you should teach your kids. Throughout the conversation, we cover, the importance of saving, compound interest, tax-advantaged investing, employing your kids in your business, and more. [05.51] The importance of saving – Starting the conversation, Grant shares why we need our kids to know the importance of saving money for themselves. [09.35] The power of compound interest – Grant discusses how to make kids save money by showing and guiding them through compound interest. [18.06] Compound growth – Grant shares the importance of long-term compound growth and how powerful it can be. [20.03] Tax-advantaged investing - Grant walks us through the right time to introduce tax-advantaged investing to your children. [25.26] Employing – Grant shares how to employ your kids in your business if you have that kind of opportunity and save cash on their behalf.