Uncommon Wealth Podcast

We hate, (and we can’t stress this enough: hate!) college debt. We want to help you and your kids avoid it. But college is expensive. One avenue for college savings is through a 529. And while we don’t love an instrument that ties up your money so you can’t use it until sometime in the future, there are some secrets we’d like to share about how to leverage 529s as one part of your college planning. In this episode, we dig into the nitty-gritty of 529s. The 529 rules and landscape have changed in the past few years, and some challenges and barriers that were in place before have been broken down. That’s great! We want to tell you about those and how you can get the most out of 529s. And what about funding your kids’ and grandkids’ education beyond the 529? We get into that too. what you will learn in this episode: The three legs of college planning Recent changes in 529s you should know about How parents AND grandparents can use 529s to help with college (and pre-college) planning The importance of researching your state’s specific 529 plan structure How to get the tax deduction on 529 education expenses Helping with a child’s college expenses without sacrificing your retirement savings Some very cool, Uncommon ways to use 529 money for college expenses   “Some recent changes to how 529s are managed and regulated mitigate many of the concerns we have had in the past about 529s.” – Bryan DewhurstCLICK TO TWEET“We had clients who wrote a check to the private school without putting it through a 529 first. We helped them get the money back and get the tax deduction through the 529.” – Phillip RamseyCLICK TO TWEET“Recent changes mean you can use a 529 plan not just for college, but for K-12 expenses as well.” – B

Strategic planning and putting systems together isn’t the most exciting part of running a business for most of us. But these components are essential to building a thriving and profitable business. It’s got to be done, and when it’s done right, the rewards are huge, in time and emotional energy saved and in wealth built. What’s not exciting about that? Our guest, Josh Dunwoody is an amazing person, and—fun fact—we’ve been each other’s clients. We helped him think through a plan to start his business, and he has helped us tremendously in ours. So this is a fun interview on so many levels. He’s talking with us about the direct through lines for building the right systems and processes directly to a business that is as profitable as it can be. Josh is the owner and founder of Tactical Advantage Business Solutions. His work is focused on helping business owners and leaders create clarity from the chaos that often comes with owning and operating a business. His experience in strategic planning, holistic business development, and process development are derived from his work with organizations of all kinds and sizes. He holds a master’s degree in organizational leadership and when he is not working with business leaders, you might find him serving in the Iowa Army National Guard. Josh is also very active in his church, as a husband and dad, and with the Altoona Chamber of Commerce.   What You Will Learn in This Episode: What it takes to move from a self-employed mindset to a business owner mindset How to pay attention to what will make your business sellable when the time comes How to kill the chaos in your business How to make strategic planning sexy again Why you have not set up systems and processes in your business and how to change that Building scalable structures into your business from day one How to flex systems and processes as needs and situations change Building a business with a franchise mindset “It’s heartbreaking when a person has invested decades and then can’t sell the business, because they didn’t invest in the processes, product, and potential for profit needed to show a business is worth buying.” – Josh DunwoodyCLICK TO TWEET“When a business owner feels they are always just putting out

What do you call a business that got up and running in four days and is still killing it after a year in business? Most people would call that an instant success! But it’s not as instant as it seems. In our latest podcast, we talk with an entrepreneur who has grown up finding creative ways to earn a living and shows no signs of stopping. We’re talking with Carisah Lee, who is originally from California and found her way from the west coast to Iowa. She is rocking a new business called Rosie and Jean with her best friend, Sam and while Rosie and Jean is doing great, it grew out of some serious business savvy and experience with social media marketing. If you are looking for instant success, this isn’t that. But if you are looking for a great story of someone who built on their knowledge base to take a hobby and turn it into a business, you will not be disappointed. what you will learn in this episode: How just starting is sometimes the best way to start a business How to use an existing audience to grow a new business How to market a story that sells the product or service How to create a competitive shopping environment on Instagram How to find something you love that will help make money for your family Some very unique tips on how to drive business through social media Finding your entrepreneurial spirit and encouraging others in that pursuit

Working for someone else, you might ask the question: Is my hard work paying off? The Uncommon Path often involves business ownership in one form or another. We see it over and over again that when you own a business, your hard work is rewarded. There will be ups and downs for sure, but the rewards outweigh the challenges. In this episode, we are exploring what it takes to buy and sell a business. How do you know—whatever side of the transaction you are on—whether you are getting your money’s worth? That’s why we wanted to explore different ways of valuation of a company, and also different ways for a buyer to purchase a company. Should you just buy the business with 100% cash? Should you opt for seller financing, or something in between. We love helping people find the right answers for them, and if you are looking to buy or sell a business, that’s what we want to do for you in this episode. what you will learn in this episode: Why 2020 might be a great time to buy a business Why there are multiple ways to value a business How funding a business is like a teeter-totter The advantages and restrictions on rolling an IRA into your business 401(k) Learning the “net take” method of business valuation Why a business seller might not want to take a lump-sum payment for the business The double-edged sword as a business owner of protecting your money from taxation and valuation when you go to sell Understanding the percentage of revenue model of business valuation What types of businesses are the best fit for different valuation methods

Getting through college without crushing debt may seem like an insurmountable task. But it does not have to be. What if you encouraged your child to spend their time applying for scholarships instead of mowing lawns, working at a fast-food joint, or babysitting? The payoff could be 10 fold or even more. But how would that work? That’s what our guest, Jocelyn Pearson, is going to tell you. It’s pretty amazing. Instead of a summer job earning maybe $4,000 if they are lucky, imagine your kids spending that time learning life skills and getting through college debt-free, basically earning exponentially more per hour for their efforts. It is not impossible, and it’s got nothing to do with test scores. Our guest, Jocelyn Pearson founded The Scholarship System to share her own experience of graduating from college debt-free. When college looked unaffordable for her, she sprang into action and secured over $126,000 in college scholarships, even receiving an overage check each semester for her expenses. It wasn’t an easy process. It took her years to figure out exactly what to do to be selected for these scholarships. Now, she helps families learn how they can do this themselves. By teaching her six-step system, she has helped families secure multiple millions in scholarships and it just keeps growing. what you will learn in this episode: How to get through college without debt Understanding the two sides of a debt-free degree Why having a system is so important for avoiding college debt How your kids can get debt-free education without sacrificing your financial future The “4 Cs” to a debt-free degree Why finding scholarships is just one piece of a debt-free degree strategy How to think differently about earning for college Common myths about who can qualify for scholarships How to keep up the scholarship application process through college

Entrepreneurship is about learning what works—and managing risk. If you can manage and mitigate the risk of failure and keep forging ahead, that can become a real recipe for success. The challenge is to learn and not give up too soon. When it comes to building an audience and making money on the internet, too often, people give up too soon. In episode #66, we talk with Adrian Brambila, who operates numerous online businesses by asking a simple question: how is this supposed to make money? Adrian went from making less than $30,000 at a desk job, to making 6 figures a year, to making 6 figures a month. This is passive income he can earn from anywhere in the world, which is why he and his wife have been traveling the world for the past year. Adrian Brambila learned how to do this by learning how to monetize and how to leverage the successes to create even bigger successes. Adrian first learned this lesson as he turned his passion for dance into an online audience of fans, and then turned those fans into customers willing to pay to learn from his expertise. With numerous affiliate marketing platforms and a marketing agency, Adrian is doing the work, gathering the data, and living his Uncommon Life on his terms. what you will learn in this episode: The networking power of spike ball How to make money based on how God has gifted you The role of practice and intention in becoming successful How to build a tribe of people who love what you do What number of conversions you should look for from 100 responses to an online offer How to help your audience and yourself through affiliate marketing Why small wins can add up in a big way How to stick with an audience-building platform until it pays off Why understanding money management is such a critical part of entrepreneurship

When you bring a new mindset to something you’ve commonly done, you get uncommon results. Encouraging people to follow their dreams is not new. But how do you put a plan into place to gain traction so you can follow your passion? That’s what we are exploring in this episode. There is a story about Fast and Furious actor Paul Walker that resonates with our approach to wealth management. We get into the details in this episode, but the crux is this: his passion was financially unsustainable until his advisor helped him with a mindset shift, turning his passion from a financial liability to a financial asset. That is at the heart of what we help people do. In this episode, we use Walker’s story to talk about the challenges and ultimate rewards of investing in yourself. Whether life is smooth sailing, or you’ve lost your job, or are doing something you don’t like, or you’re living in fear, now is the best time to double down on your gifts and think differently. And if you need help thinking differently or looking at your situation with a different perspective, that’s our passion. We’re here to share our passion with you and help you find a path forward with your own passion. what you will learn in this episode: How to move your passion from a liability to an asset The mindset shift that can make it possible to build your passion into a business Why making money doing what you don’t love is a hard slog How to start a plan to move toward monetizing your passion The art of feeding that Jumanji drumbeat inside you Why entrepreneurship is becoming more and more prevalent How to move from a side-hustle mentality to a business mentality How COVID-19 is teaching us (once again) that the “safe” job may not be so safe

When you love what you do, you’ll never work a day in your life. That’s one of our favorite phrases because it is so true. But how do you pay the bills? You provide something of value people are willing to pay for! In our latest podcast, we dig into that concept with our guest, Kari Minter. Kari has spent her life mentoring and helping women understand how to live life aware of God’s presence. For years, as a pastor’s spouse, she just did this as a member of the church as a way to give back—which was great! But what if you could share your gifts beyond your local congregation or social group? That would be amazing. Kari’s gift is writing and speaking about discipleship and understanding the Bible more fully. Now she is using those gifts at Kariminter.com so not just her local church gets the benefit, but the world! How has God gifted you? How could you share those gifts more fully with the world? Finding answers to those questions is what this episode is all about. what you will learn in this episode: How to use the gifts God has given you Permitting yourself to use those gifts to earn money Why a supportive spouse can make all the difference in pursuing your uncommon dreams How to set up a plan to step into your Uncommon Life Understanding your weaknesses and finding help in building your Uncommon Life Finding balance in a relationship when one of you is pursuing an entrepreneurial dream How to strategically build a value ladder The importance of investing in yourself

There is a lot that happens between following your dreams and living your dreams. It is rarely a straight path, and there will always be challenges along the way. That’s why we are so glad to share our conversation with Antoine L. Smith in this episode, who talks with us about overcoming adversity and finding the never-ever straight path to success in his field. We’ll ask some big questions, like: How do you do what you love, earn a living, and stay true to yourself? We talk about the big mentors in his life, and how he went from culinary school graduation to performing as Big Bird. There’s a lot to explore here! Having performed in Broadway shows from Cats to The Color Purple, Antoine L. Smith is just getting started. Antoine went to high school with Phillip, where they performed on the same (championship!!) dance team. Antoine then followed his dream of making it on Broadway. He lives in New York City and is an Emmy award-winning Broadway, television, and voiceover actor. Find him on Instagram: @antoinelsmith32 what you will learn in this episode: How to draw strength during times of adversity Staying true to yourself and your ideals while making money doing what you love The real cost of doing business in creative work like theater Bringing the same energy to a task day after day How to keep going after you’ve made a mistake Ways of building residual income in creative work Aligning residual income with your gifts The importance of just being good to people The crucial role of mentorship: being a mentor and paying attention to those who mentor you

You’ve planned for retirement in a general way. You have some money stashed away in IRAs and other accounts. Now you can just coast into retirement and forget about money, right? Nope, that’s not how retirement works for most of us. But the important thing is that you do have options. In this episode, we want to help you explore your options. There are many different approaches to take as you head into and plan for retirement–or as we like to call it “time freedom” mode. Don’t get pushed into a path you are not comfortable with, because when it comes to retirement income one size definitely does not fit all. Some people want a lot of guarantees, some people are okay with risks. In this episode, we want to educate you about your choices. If you are getting ready to “clock out” of the regular work schedule you’ve been on before retirement, we want you to know what your options are so you can make the best choices possible. what you will learn in this episode: Why Retirement Income is not one-size-fits-all Understanding guaranteed and non-guaranteed income How to define financial freedom for yourself and build a plan that works for you The options you have for retirement income What to expect from pensions and social security income How to make sure you have enough liquid assets to manage during retirement

It is an ongoing theme in our work; we love what we do and we want to help others find what they love to do and create a sustainable life from doing just that. That’s why we were so glad to get a chance to interview our podcast guest Brie King. It wasn’t long ago that Brie was living through some challenging times as her marriage ended. But that was far from the end of her story. After realizing she had an interest in real estate, she decided to take the plunge and use her newly purchased property to become an Airbnb super host. We say it all the time: when you’re doing what you love, you will never want to quit. That’s why we love hearing about people who are upending the standard “retirement” equation, not waiting for that end of the rainbow moment, but going out and living their dreams today. That’s Brie’s story, and we’re eager to share it. Brie worked in corporate health healthcare for six years. She’s a proud mom who owns and operates 3 cottages through Airbnb, and is in the beginning stages of a canoe and kayak rental service called Elk River Outfitters, along with her existing marketing company, Elk River Media in Fayetteville, Tennessee. what you will learn in this episode: How to find opportunity in challenges How to leverage things you already do and enjoy and create income from them Ways to peel back the “entrepreneurial onion” Moving from a retirement mindset to building time freedom, by loving what you do so much you never want to quit Turning travel into R&D for your Airbnb How to create opportunities for your kids to explore the uncommon life

Are you curious about Bitcoin and cryptocurrency in general? Want to understand more about it? Well, Bryan is the man you want to talk to! This episode is a duocast, but mainly it is Phillip interviewing Bryan about the promise and potential pitfalls of cryptocurrency, specifically Bitcoin. Some background is necessary to understand this episode better: Bitcoin is banking. Bitcoin can bank without intermediaries. That’s what makes it so powerful. Bitcoin uses peer-to-peer technology to operate with no central authority. Managing transactions and the issuing of bitcoins is carried out collectively by the network. Transactions are verified and recorded in a public distributed ledger called a blockchain. Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. This is some serious geekery, but we are convinced Bitcoin and other cryptocurrencies are not going anywhere. You will do well to understand it and potentially dip a toe into cryptocurrency to see if it is an investment that makes sense for you. what you will learn in this episode: What Bitcoin is and is not The history of Bitcoin and why it was developed How blockchain creates triple-ledger accounting Understanding Bitcoin mining How to buy Bitcoin and other cryptocurrencies How cryptocurrency stacks up against the current banking system What to consider when thinking about investing in Bitcoin How “stable coins” fit into the cryptocurrency universe resources: The Bitcoin Standard: The Decentralized Alternative to Central Banking Mastering Bitcoin: Programming the Open Blockchain The Internet of Money Try Coinbase: https://www.coinbase.com/join/dewhur_t

For us, financial planning has three essential components: flexibility, the ability to customize for your specific needs, and the ability for you to control how your money grows. In our most recent episode, we unpack one of our favorite financial tools—whole life insurance—in a way that carries through on those values of flexibility, custom-fit, and control. We’re talking with guest Michael Rothman about premium financing; a system where you can borrow the life insurance premium to pay for that policy and then you pay interest on the money that you just borrowed. Now especially, high net worth people can leverage these low-interest rates environments and gain the death benefit that they need, the cash value that can grow for them, while paying a small interest rate to do it. Michael has an in-depth understanding of advanced tax and estate planning techniques as well as sophisticated leveraging and wealth preservation strategies. He works with Succession Capital out of California. The firm was formed in 2004 to address a void in the market: understanding and communicating about life insurance with advisors and high net worth individuals and business owners. Michael joined Succession Capital in 2008 and is responsible for business development on a national level. He oversees all major initiatives at SCA. He’s an accomplished speaker throughout the financial industry and has his CFP designation. Michael is responsible for case design, presentation, and implementation of these advanced planning concepts. what you will learn in this episode: What premium financing is Who premium financing is for New ways to use life insurance to accomplish your goals The many ways the cash value of your life insurance is protected How to use long term loans just like big corporations do How to finance life insurance premiums the same way you would for property The tax and gift planning ramifications of premium financing for life insurance Why premium financing makes sense even when interest rates rise

Why don’t more kids learn about financial literacy and entrepreneurship in school? Why are these not part of the core curriculum from kindergarten through 12th grade? Some states (like Iowa!) and local school districts do have these requirements, but way too many do not. The result is adults who don’t know how to save and don’t understand basic financial principles. Stop the madness! In our most recent episode, we are blowing the lid off this challenge, and bringing on the solutions! We discovered Junior Achievement last year and are in awe of how it answers so many of our concerns about financial literacy in the classroom. Our guest, Collin Lane tells us all about how JA brings experiential learning about financial principles—from finance, jobs, business, and entrepreneurship —to classrooms across the country, and how they’ve been doing it for over 100 years. Collin is in his second year as the director of programs for Junior Achievement of Central Iowa. Before his time with JA, he spent nearly 14 years in public education for Des Moines public schools. He taught fifth grade for seven years and was an elementary tech teacher. He served as Instructional Technology Coordinator as a member of the district-wide curriculum team. Collin has his BA in Elementary Education from Moorpark College and his Master’s degree in Educational Leadership from the University of Northern Iowa. what you will learn in this episode: Why we need to prepare our kids with financial literacy How Junior Achievement has been helping young entrepreneurs for 100+ years The kinds of financial literacy and entrepreneurship programs JA provides How kids can gain an immersive experience in business that they will remember the rest of their lives Teaching kids beyond basics to get at deeper principles of financial well-being Why school districts should include financial literacy as part of the core curriculum from K-12 How to take financial literacy to the next level with college-age young people Why mentorship is the cheat code of life

Passive income sounds so nice. You make a pile of money while sitting on a beach somewhere. But does it really work like that? Not really. In fact, we don’t like the term ‘passive income’ and much prefer terms like ‘passionate income’ or even ‘active income.’ But why? This episode is all about the goal we all have, which is financial and time freedom. Even if that means sitting on a beach somewhere, how do you get there? It’s like any “overnight success.” It takes time and effort. It starts with identifying your passion and discovering ways to create residual income and cash flow from that passion. Because the truth is, passive income isn’t truly passive if you do it right. It’s passionate income. It is a lifestyle, it is a movement. It’s aligning your God-given gifts with a path to that time and financial freedom. That’s the path we love helping our clients with, and it’s what we want for you. what you will learn in this episode: The hard work that is usually behind what people call passive income How a growth mindset is a key element to generating cashflow Why chasing rate of return is not always the best policy The biblical principles behind where your money and attention go How to keep the main thing the main thing How your financial accounts tell a story about what you value Aligning your investments with your interests and passions How to create multiple exit strategies through your investments and cash flow Why a value ladder is a great strategic business tool to build residual income

Some people dream of a life that is a constant vacation on a beach. That is their travel dream. Others want to wander the globe trying to make connections and build understanding between themselves and the people they meet along the way. Our guest on the podcast in our most recent episode is all about the latter approach. She has become a life lesson in following the Uncommon Path. She understood her ‘why,’ designed a plan, and made it all happen. It is a spectacular story that exemplifies how we try to guide all of our clients: follow your passion, find ways to monetize it, and live your dream. Samantha Burmeister is the woman behind 9 to 5 Nomad, a resource for people looking to make the transition from location-based work to world travel. She has been an avid traveler since high school, catching the travel bug from her grandparents. She found every study abroad opportunity possible in college. To pay off loans and start her next adventure as soon as possible, she did join the regular 9-5 life for a while. She took the plunge into full-time travel this past year and is not looking back. Nomad Courses: https://9to5nomad.teachable.com/ what you will learn in this episode: How to pay attention to your passion, and plan your life around that Understanding your priorities so you can make better decisions in life How to monetize a passion for travel The art and brass tacks of traveling solo Why living your dream might cost less than the way you are living right now How to listen to your friends when they call you out for making excuses The phases you need to go through with your finances to follow your Uncommon Path What it means to live as a nomad/expatriate/slow traveler How to be a financially savvy traveler

We are all about following that Jumanji drumbeat—that passion you have that just won’t stay quiet—but that doesn’t mean throwing everything away to do it. So how do you turn your dreams into a source of income without upending your life and your current livelihood? Great question! That’s why, in our most recent episode, we are thrilled to be speaking with someone who has walked this very walk. Keesia Wirt is pursuing her dreams while keeping her feet on the ground. She is growing a business based on her passion while remaining a key contributor at her day job. Another wrinkle you may face is that your dreams and passions may seem a little bit strange. Keesia realized she had a passion for writing obituaries. Strange, right? She understands that. But she also realized what was underneath that passion; that the stories of the people we love too often go unheard. Keesia experienced the regret of missing those stories first-hand when she realized her grandmothers had “graduated” to heaven without her sitting down and learning from them. That’s how Circa Legacy was born. Now Keesia (in addition to her day job!) owns and operates a company dedicated to collecting and sharing the stories that make up our loved one’s legacy. The story of this unique startup is one you do not want to miss. what you will learn in this episode: Getting comfortable with niching down Why it is important to celebrate loved ones while we’re all here to celebrate How to become a storyteller about the life of someone you love The importance of securing a URL in the process of naming your business The importance of passing down values and not just money to future generations How to create a “value ladder” from entry-level to gold-standard products or services Developing a product you can create once and profit from indefinitely Challenges and opportunities in fulfilling your passion while keeping a day job How to have honest conversations with employers about what you want Using cash flow from your day job to be smart about investing in your passion To understand how to create a value ladder the right way, along with other key startup tips, download our ebook: https://www.uncommonwealth.com/resources/e-books/

When challenging times come, opportunity comes right along with them. We see this play out over and over throughout history. The entire world is in an unprecedented holding pattern because of COVID-19. How should you respond? Things are uncertain and scary right now, so we wanted to create an episode to talk about that. Jobs are being lost and business paradigms are being disrupted. But in the midst of this, there are touchstones to hold on to. How can you spend this time with your family? Who should you reach out to? What should you start doing that you were not making time for a month or two ago? What we are living through represents a huge reset button on many levels. How we respond is up to us. We just want you to know you are not alone, and that opportunities do await in the midst of this crisis. what you will learn in this episode: The amazing, intentional ways your family can connect during a crisis How to help kids focus beyond themselves and reach out to friends and family Avoiding the “Cam Newton Effect” of blaming others for challenges you face How business paradigms might shift more rapidly in the wake of this pandemic Why grace needs to be more abundant than ever How this crisis might impact commercial real estate The potential of acceleration toward more self-employment

There’s a parable we came across about the 3 bricklayers: one sees it as a dead-end job, the other sees it as a career that pays the bills, and the other can’t wait to wake up tomorrow and keep building a beautiful cathedral. The point is, the same set of circumstances can be met with different mindsets. We want nothing less than to help people wake up and feel passionate about whatever it is they are doing. None of that happens overnight, and mindset is just the start. In this duocast, we talk about what it takes to go from being frustrated about your day-to-day, to living out your gifts and calling that God has given you. We’ve lived it ourselves, and we’ve helped clients at every stage of the bricklayer continuum – and it never gets old (because guess what? We’re doing what we love!) what you will learn in this episode: The difference between doing a job, making a living, and living your dreams How to take the right steps when you are in a job you hate How mindset impacts the move from being a bricklayer to owning a brickyard How to use your God-given gifts to guide your own destiny The problem with golden handcuffs Why mindset makes the same experience different for different people How to build wealth in multiple ways out of your passion and integrity

If you’ve followed us for any length of time, you know how we feel about IRAs and 401(k)s. They are great, but hardly the only game in town, especially if you don’t want all your money tied up until you are 59.5. That’s where tax-managed investing might come in handy. Investments are a great source of residual income, but there is a lot of mystery and fear surrounding investments. That’s why we wanted to do a deep dive in this episode. Tax-managed investing isn’t new. It’s been around for a while. But it has recently gained a lot of popularity. As consumers and advisors become more and more tax-conscious, we wanted to dig into this topic so you have a starting point for knowledge on what can seem like a tricky subject. Why would you choose this strategy (or set of strategies) in addition to an IRA or other retirement accounts? How do taxes affect the rate of return on my investments in a given year? Find out the answers as we tackle these questions and more. what you will learn in this episode: How to leverage tax-managed investing instead of or along with traditional retirement accounts How money managers are able to mitigate tax liability within portfolios What tax loss harvesting is Why we focus on clients and hire experts to manage portfolios The differences between short-term and long-term holdings How to use dividend-paying stocks along with tax-managed investing strategies

At the end of the rainbow, you need to have a pot of gold. We’re talking about that 800-pound gorilla, retirement income. How do you build it, how do you get it when you need it, and how do you make it last? In this episode, it’s just Bryan and Phillip talking together about these retirement income questions and more. There really is no one way to build up income for retirement, but there are some concepts to understand and strategies to decide on sooner rather than later, depending on your personality, job situation, risk-tolerance, and other factors. How do you fill in the gap between what you’ll be getting from Social Security and maybe a 401(k)? That’s what we’re talking about here. People these days often have 30+ years of retirement to account for, so having a plan for retirement income is a big deal. We’ll share with you several retirement income systems that people have used over the years, so you can understand which one – or a hybrid of several – might be right for you. what you will learn in this episode: Three basic ways people deal with retirement income Strategies for making your money last through retirement Why no one retirement income philosophy is one-size-fits-all Understanding the three phases of retirement What the “retirement red zone” is How to use a bucket strategy for retirement income Why $1Mil in a 401(k) might not stretch as far as you think 4 factors that could affect your retirement Why inflation is such a big factor in your retirement planning

We all need to pay our taxes, but some people hesitate to work with an accountant. If you own a business, you’ve got to get over that attitude. Finding a good accountant who can help with tax planning and so much more isn’t a necessary evil. It’s the right business decision. On this episode, we’re talking with a fellow business owner and our own tax planner, Ricky De Hamer. Tax laws change in small and large ways all the time, so having a professional who understands business and understands those changes can make a huge difference in your own business. Tax preparation is just a part of the conversation. We talk with Ricky about tax prep, tax implications for different business entities, and much more. If you wish you knew more about how to find a trusted advisor for taxes and money management, you’ll want to listen in. Ricky has over 13 years of public and private accounting experience. He’s been a big help to us, for sure. He has served on the Board of Directors for the Accountants Association of Iowa and is currently the President of AAI. He earned his BA in accounting at Central College in Pella, IA.   what you will learn in this episode: The importance of audited financials How to use a tax professional as a resource as you start out and grow a business The impact of the structure of your business Differences in business entities Taking advantage of legitimate business tax deductions What the new tax laws mean for personal deductions How non-traditional small businesses (like AirBNB) impact your income tax Why you might consider a Health Reimbursement Account and how it differs from an HSA Why online tax prep platforms are not the best choice for business owners

So much of financial planning is about managing risk. That’s why it is so important to understand the financial “don’ts” as much as understanding the things you should do when it comes to making decisions about your money. That’s what we’re exploring here in Episode #49; some financial “don’ts” that we hope you can avoid. Some of the big don’ts focus on relationships—marriage relationships and business relationships—as well as who to take advice from. Not all advice is equal, and we’re digging into that hot topic. We also discuss some don’ts around taxes and investing. What should you invest your time and money in? It can be somewhat subjective, but there are some ground rules you should definitely follow. This is some real talk about mistakes to avoid and advice on how to recover when you stumble into some don’ts. what you will learn in this episode: Why you don’t have to feel guilty about investing in your marriage What to do when you are in a bad business partnership How to avoid analysis paralysis Why investing in things you don’t understand is so risky Why a tax break alone is not a good enough reason to make an investment When to ask for help with managing your finances Do not buy a timeshare. Just don’t How to measure the value of buying “toys” like boats and RVs

When it comes to launching a business, we wish we knew then what we know now! We are like many, many business owners in that respect. So we wanted to share some steps, a checklist if you will, for launching a business the right way. Because thankfully we’ve learned a few things in the past 7 years in business together. In our latest episode, we’ll take you through the ins and outs of launching a business, from deciding on a name to finding the right accounting software and support people. There are huge rewards in owning a business. It is the most powerful source of residual income because there are so many ways to leverage the wealth that you build as you grow a business. But too often businesses fail because planning takes a back seat to jumping in and moving everything along as fast as you can. We get it. Businesses are usually born out of a passion, a drumbeat inside that doesn’t go away. Take that passion and build your business on a firm foundation with these 7 steps. what you will learn in this episode: Why business is such a powerful source of residual income How to pay attention to the drumbeat inside of you What the heck a “value ladder” is How to lay the groundwork that leads people to your high-level, high-revenue products or services How to find “blue ocean” in a marketplace crowded with sharks The importance of a cohesive brand and all the legal and creative work that goes into it Building client education into your business strategy Why corporate structure is such an important business decision  

How do you recover from a terrible loss? And how do you honor the life of the person you lost? And most importantly, how do you create meaning out of heartbreak? The Uncommon Life is about every aspect of life, the good times and the challenging times. That’s what makes this episode so meaningful for us. We talk with Matt and Haley Phillips, who are the parents of two beautiful children who they got to bring home from the hospital after giving birth – and one who did not come home with them. Through their experience with their son Fletcher, you’ll find out how they came to understand grief in a way they had not experienced before. They wanted to honor Fletcher’s life and also help people who are going through similar circumstances. We talk about the financial burdens of a hospital visit for childbirth, even when the child does not return home with you. We talk about what it means to start a charitable foundation from scratch. Hint: it’s not easy! Matt and Haley Phillips started The Fletcher Foundation after the loss of their son through stillbirth. The Fletcher Foundation is for families who find themselves in a similar season of life, wondering how to cope with the financial and emotional burdens of such a loss. There is a sacred pain in losing a child, and the Fletcher Foundation is about walking beside families who are going through that pain. https://thefletcherfoundation.net/ what you will learn in this episode: The financial impact of miscarriage and stillbirth How to find support after a miscarriage or stillbirth What it’s like to build a non-profit from scratch How to be kind to yourself and to loved ones when tragedy strikes The challenge of raising money for a tragedy that doesn’t get talked about How to set up tax-exempt status for your charitable organization How to be there for people who are experiencing griefCreating meaning out of loss

Gold is money. But don’t be fooled, there is a difference between money and currency. Currency can be either backed by a commodity, which historically has been gold and, to a lesser extent, silver or it can be backed by debt via central banking systems, as is the case throughout most of the world today. So while currencies come and go throughout history, gold has stood the test of time throughout recorded history. Unless you are mining it, gold does not produce income. It is a resource that throughout recorded history has protected purchasing power over a long period of time. In episode #46 we are going to be digging into gold – Why has it been a source of wealth, adornment, and means of transacting business for so many thousands of years? How can it be used today as a hedge to protect your purchasing power? And what does this mean for you today? Until the rise of central banks, the world operated basically on a gold standard. In our latest episode, we discuss the ramifications of this change and we’ll even get into some comparison and contrast between gold and cryptocurrency. what you will learn in this episode: The historic roots of gold as a source of wealth Why the end of the gold standard is so significant Why gold has remained so valuable throughout history Why gold is still a good investment Similarities and differences between gold and cryptocurrency  

More and more people are dipping a toe or diving right into short-term rentals. AIRBNB and similar platforms are making it easy to market and get paid for sharing your home with perfect strangers. Short-term rental can be a great way of offsetting some of your mortgage costs. Over the past several years, we have become big proponents of utilizing short-term rental as a way to test the waters in terms of using real estate as a source of residual income. This always begged the question, “Do you do short-term rentals?” For a lot of people, offering your primary residence seems like a pretty scary idea but we want to help take some of those fears away. We’ve been fascinated by it and last year Phillip and his wife decided to go for it. This episode is about how they started, what they experienced, and mostly what a positive experience it was for them to offer their primary residence, get paid for it, and build some family memories in the process. That’s not to say there isn’t a cautionary tale in there as well. Find out the answers to burning questions, like, “Why would you do that?” And “Where do you put your stuff?” The market for short-term rentals shows no sign of slowing down so if you’ve ever thought about it, this episode has some first-hand information that will help you decide if it’s right for you. what you will learn in this episode: How to use your home as a short-term rental when you are on vacation What to know before you consider short-term rental Being strategic about what you want to get out of your short-term rental experience How to prep your home to use as a short-term rental What to do with your stuff when renting out your own home How to automate as much of the rental process as possible How to leverage the power of AIRBNB to market your short-term rental What to do with a worst-case-scenario guest

Starting any new business involves a leap of faith. But the reward is that you get to use your gifts to do something you’re passionate about. When you are aligned with what God has gifted you to do and what you are passionate about, even though it’s not an easy path, the burden is light. We see it again and again in our work with entrepreneurs. That’s why we are so excited to talk with guest Scott Behrends. Scott took what might seem like a quirky passion – an interest in athletic training based on the obstacle courses and the general mayhem of American Ninja Warrior – and turned it into a business. We talk with Scott about the power of niching down, clear communication, and what it takes to build a business while keeping your day job. It’s never been easy, but in those moments when he got nervous about the path forward, God pushed him through the doorway and on to the next steps. That’s when exciting things can happen in our lives, and we talk with Scott about all those peaks and valleys along the way. Scott married his high school sweetheart and has 3 kids (occasionally more because they are also a foster family). He attended the University of Northern Iowa and studied Personal Training, but then changed his major to Computer Science. He keeps up with all things tech and has worked in IT since graduating. Scott fell in love with ninja when he first saw American Ninja Warrior. It was the sport he always wished existed as a kid (he was a climber)! When his sons kept making obstacle courses in the backyard & timing themselves, Scott recorded them & uploaded one to YouTube. “Backyard Ninja Kids” was born, and it now has over 4,500 YouTube subscribers & over 7,000 Instagram followers. Scott and his sons (Ben & Jason), daughter (Lia), and wife (Lindsey) have enjoyed being part of the ninja community. Scott and his two business partners recently started Ninja U, a gym with the vision to encourage, educate and engage kids of all ages.   what you will learn in this episode: How to grow your passion on a budget How to shift a hobby into a business Why niching down is the smart business move The time investment it takes to build a business The importance of choosing good partners Why building a business is likely to be one of the most challenging times in your life How God expands your capacity when you need it most How to be open to the unknowns as you prepare your business for the future Why the burden is light when you are in alignment with God’s purposes for you

When you’re young, you don’t think twice about having a coach for soccer, baseball, field hockey – whatever sport you’re into. You need someone to coach you through the basics and show you the ropes. That all changes when you start adulting. You think you know everything. You don’t seek out those coaches and mentors who were clearly so instrumental in helping you learn and grow. Episode #43 is all about getting over yourself and finding the right coach or mentor for whatever goal you’re pursuing. Asking for help is not a sign of weakness. It’s a sign that you are aware enough to know what you don’t know. We are huge fans of coaches and mentors. And we have been at every point in a mentor/coach relationship. We have business coaches who have helped us set goals and get our business to the next stage. We have served as mentors to each other. And we cherish our role as financial coach to so many of you. It’s inspiring and humbling. Remember that feeling when you made a great play, or struck the note you’d been practicing for so long? Remember looking to the sideline at how proud and excited your coach was for you? You need coaches and mentors in your life now just like you did as a kid. When it comes to crushing goals, learning and growing, it is hard to underestimate the power of good coaching and mentoring. what you will learn in this episode: Why coaches and mentors are so important to reaching our goals Getting over the stigma of asking for help The difference between mentoring and coaching Why getting too much advice can be as bad as not seeking advice When to seek out a mentor and when to seek out a coach How coaches and mentors can help you develop a plan How coaches help you get off the sidelines of your life The value of what coaches and mentors receive back from the relationship How to find your mentor or coach The importance of setting expectations with a coach or mentor

These days, it’s not uncommon for a person to graduate from college with tens of thousands in loans – sometimes reaching debt loads of $100,000 or more. We all know this is insane, but what can we do about it? In this episode, we do a deep dive into the dark pool of college loan debt. There has got to be a better way. We are disgusted with what’s happening and we’re going to talk about it. One aspect of our work that we love is speaking to high school students. We speak at local high schools about twice a year. One thing we run into a lot is a total lack of planning when it comes to paying for a 4-year degree. So you want to go to Stanford. Great! After getting accepted (a huge hurdle in itself) how are you going to pay for that premier education provided at a premier price? That’s what we want to dig into here. Understanding your options about where you might attend school and how you can pay for it without digging a giant hole of debt for the student or the parents. what you will learn in this episode: Uncommon solutions to higher education without crushing debt How predatory lending targets college students and their parents The crucial role mentorship can play in discovering the right path The 4-legged chair of college funding How to treat applying for scholarships and grants like a job Why putting money away is just one of 4 paths to college funding How real estate can help fund your child’s education Why you shouldn’t sacrifice your financial security for your child’s education

One challenge nearly every entrepreneur we meet faces is the “shiny object” syndrome. Starting new things is fun and when we get one project off the ground, most people start thinking about the next. When we hear that someone wants to start a new venture, we are excited for them. But we temper that excitement with one quick question, “Do you have any experience in this market?”. If the answer is no, that’s a red flag. Not that you should never venture out of your comfort zone, but keeping your entrepreneurial activities focused on some kind of related field or area of expertise just makes good business sense. That’s why we were so glad to talk with our guest, Evie Peterson. She is a true entrepreneur, operating (at last count) Farmhouse Catering, Gatherings Event Space, Farm Grounds Coffee Shop, and Farm Pond Inn. The awesome thing about what Evie is doing is that there is some clear connective tissue between all these ventures. She has taken her gifts and experience in hospitality and food and created ventures that work together to provide Evie and her family an uncommon life. Since high school, Evie had worked in the restaurant business, so after college, Farmhouse Catering was a natural next step in that evolution. Over the years, she has added an event space, and then a coffee shop and restaurant. Most recently, she and her husband have refurbished an adjoining property where they host bridal parties and others who will be using the event space as well as other travelers to Nevada, (pronounced Neh-VAY-dah) Iowa. The synergies between these businesses provide Evie with multiple income streams and flexibility that represents an ever-expanding sense of time freedom.   what you will learn in this episode: How to add activities that don’t take you off track, but create more cash flow Why it sometimes makes sense to start slow and build capacity over time How to create synergies between your various businesses Best practices for having your children or other family members work in your business Dealing with difficult customers How to both have a family life and a job that you love Making a plan for your uncommon life

When most people think of income, they stop at earned income – the money you make in a paycheck from a job. We want people to think way beyond that in order to pay off debt, put a reserve of savings aside, and get your money to really work for you. In our latest episode, we outline 8 unique streams of income. Big companies like Apple are earning money every minute. That might be a mind-bender but think about payday in your home. Does that happen once a month? Twice? Imagine bringing money into your household every week. It has been said that an extra $500-$1000 a month would make an enormous difference for most families. It would truly be game-changing. Listen in as we help you explore ways of doing just that. what you will learn in this episode: 7 ways beyond your paycheck that you can create streams of income The difference between passive and residual income How to create streams of income while you still have a day job How to leverage your money to create streams of income now instead of waiting for retirement Why you should look for ways to create streams of income based on your interests How to create scale on different streams of income How to think about ways you could gain income on weeks when you don’t get a paycheck

What happens when there’s nothing wrong with your job, but your hobby brings you and everyone around you so much more joy? That is a tricky spot to be in. Could your hobby be more than a hobby? How do you find out? Join us for Episode #39 of The Uncommon Life Project as we explore sweet success with our guest Christina Moffatt, Cupcake Warrior. Christina faced challenges along the way, both large and small, as she built her business. She talks with us about how to not just shoot from the hip, but find the courage to jump in and take smart entrepreneurial risks. And when challenges come along, how to roll with those punches. After working for 10 years in corporate U.S.A., Christina Moffatt decided she was tired of seeing people who had no happiness in their day. Her mission became to find out what makes people happy. The answer, she discovered, is cupcakes and dessert. A baker since she could hold a measuring spoon, Christina combined her culinary skills with her management and marketing experience to create Crème Cupcake + Dessert, which expanded from a home-operated bakery to a commercial kitchen in less than a year. A graduate of Iowa State University and the University of Toledo CBA Program, Christina owns and operates Crème Cupcake + Dessert, and serves as the Director of Small Business Resources for the Greater Des Moines Partnership. She also devotes her time and talents to many local boards. Christina has won several awards for her business including DSM Top List for Best Bakery, Cityview’s Best Dessert, Sweet Equality Best Dessert, runner up for the Iowa Mixology Competition and runner up on The Food Network’s Cupcake Wars. Christina has also been featured in Pastry & Baking North America in the Regional Showcase and Baker in Focus. what you will learn in this episode: How to understand your numbers before quitting your day job for a new venture Why having your spouse on board is so crucial to entrepreneurial endeavors How to scale from a hobby to a thriving commercial enterprise How to manage start-up capital outlays Delegating so the business does not become your entire life The power of people believing in your concept and especially you What to do when life hands you something that’s not in the business plan How to find good mentors and become a mentor to others  

Did you know that when a storm is coming, buffalo will actually turn around and run into the storm because they get through it faster whereas cows will run with the storm and stay in it longer? That is what this episode is about – running through the storm. The Uncommon Life is not all rainbows and unicorns. Sometimes we face challenges that, in the midst of them, seem insurmountable. And sometimes, the best path is through the storm. That’s what happened with our guests, Ian and Christina Nelson-Johnson. On their way towards a perfect life together in Oregon, they faced several personal and professional challenges. They made the decision to face the storm and chase a dream rather than put it off for years to come. Find out how an uncommon strategy can lead to major breakthroughs in building out your dreams. Ian is a trained clinical psychologist committed to working and providing an affirming space to people from all walks of life. His work focuses on the following areas: men’s issues, relationship distress, trauma, depression, gender identity, anxiety, grief, family of origin concerns, spirituality, and identity concerns. Christina is a yoga instructor who has practiced and taught yoga all over the world—from a college class in Portland, Oregon to a sub-basement studio in Amsterdam to an ashram outside Sydney, Australia. For her, yoga is much more than positions to put your body into. It’s about connection with yourself, connection with the people doing yoga with you, and connection with your instructor. When we can connect and be vulnerable with one another in a nurturing environment, we can begin to heal mind and body. what you will learn in this episode: How to come back from career setbacks Unlocking the potential you bring to challenging situations When to consider taking money from an IRA Why the Uncommon Life is not always the easy path Options you have in pursuing dreams when your savings are limited The multiple ways you have to invest – way beyond the stock market Finding the strength to ask for help How to think uncommonly about leveraging investments in yourself

Money is deeply personal. When you go through a tough time and make a decision that winds up costing you money or just don’t pay close enough attention to where your money is going – that can create a sense of financial guilt. We don’t get this sense of guilt out of nowhere. And yet, at least in North America, it is not a topic that gets discussed very openly. In our most recent episode, a duo cast, we talk about where this sense of guilt comes from and how to get beyond it. There will be a path forward for you and often it can happen more quickly than you think. So much of our context and understanding of money comes from our upbringing, how we saw our parents handle money, how they maybe even fought about money. Money is a huge topic, especially in relationships, and especially as we look backward to our past. This looking back can have a lot of impact on our financial shame and financial guilt. So let’s start looking forward. When we work with people, they are often surprised when we help them see a path forward that is both hopeful and much quicker than they imagined. It does take discipline and planning, but guilt is counter-productive. We’ll share our perspective and tips you can use today for getting out of debt and creating wealth now and in the future. what you will learn in this episode: How to remove guilt from the equation and work on your financial present and future Getting beyond a mindset of failure Why you need a financial strategy beyond paying off debt Why asking for help is a great first step beyond financial guilt Tangible acts you can do right now to know your numbers Why it’s so important to know your personal profit every month How to build up your emergency fund Building cash flow beyond your monthly expenses Where to find encouragement to get beyond financial guilt

The world of trademarks and patents can be very confusing. Our guest on our latest podcast is going to remove that confusion. If you are an entrepreneur, business owner, or inventor, you run into questions about trademark and patents all the time. What does common law cover when it comes to trademarks? How much does it cost? What kinds of brand and product essentials should be trademarked? Patents are a whole different ballgame. But a patent, especially a provisional one, may not be as big a hurdle as you might think. On this episode, we talk with Matthew Leaper, a true expert in trademark and patent law. He answers all the above questions and more and talks us through the various ways to monetize your intellectual property once a trademark is received and a patent is approved. Matthew Leaper is an attorney with Smart & Biggar/Fetherstonhaugh, one of Canada’s premier intellectual property law firms. Matthew works with innovators to refine and protect their ideas, having learned best practices from some of the best intellectual property firms in the U.S. and Canada. He has worked to zealously serve some of the most IP-oriented, innovative companies in the world. From these experiences and capabilities, he has developed subject matter expertise in numerous technical areas, and become highly skilled at generating value from that expertise. He has worked closely with inventors and business managers to draft patent applications. These cover a wide range of technologies including diagnostic sensors; energy efficiency technologies; laser technologies and applications; manufacturing methods; medical devices and implants; non-invasive surgical technologies; and software applications, including artificial intelligence and machine learning. This episode is for informational and entertainment purposes only and is not to be construed as legal advice. what you will learn in this episode: How trademarks protect brand identity Tools to research trademarked names through TESS The cost and process of registering a trademark When to go the “free” route and when to register a trademark The scope and limitations of a patent The strategies to understand in filing a provisional patent How prototyping fits into patent development Why some products can be protected by both trademarks and patents How the geographic scope of your patent can affect your licensing strategy Intangible values of having a patent

What happens when you start a business, it seems pretty successful from the outside, but is it sucking your soul away? What do you do when your clients start to act more like pirates? Entrepreneurship is full of a lot of peaks and valleys. Getting through those valleys can be downright brutal. On our most recent podcast episode, we have a candid conversation with Justin Wise, who built a very successful digital marketing company from scratch, watched it implode, and found the wherewithal to start rebuilding again. Justin Wise studied to be a pastor, but found the digital communication part of that life to be more suited to him than having the title “pastor.” He went on to start what would become a very successful digital marketing company called Think Digital. The company went through a phase where things were, to put it mildly, not going well. Justin does not hold back in describing the challenges of this time. Some colorful and downright icky analogies are used. But that’s just effective communication, folks! Having things fall apart is an entrepreneur’s worst nightmare. How do you come back from setbacks like this? How do you keep your faith intact? How does your family weather those storms? For some solid answers and some great inspiration, our conversation with Justin will not disappoint. what you will learn in this episode: How to build a business from your existing network How to sell off aspects of your company and when that makes sense Why protecting status is a barrier to risk-taking The crucial role of supportive family and mentors to business success How to monetize your expertise Why communication with your management team is so important How to pick up the pieces when a business dies Building systems and processes so clients don’t walk all over you How to find a financial path forward without losing your soul Why people of faith should be more willing than others to take risks rather than play it safe

A solid footing is the best place to be when you decide what your next step should be. That’s our approach to wealth advice. We want to put clients in a position where their financial basics are covered and they have cash on hand to take advantage of opportunities as they arise. In our most recent episode of the Uncommon Life Project podcast, we take a closer look at how to create a financial safety net that ultimately gives you the ability to take some risks when others may not be able to. A good financial plan will help you strategically invest in yourself, so your basic needs are covered and then you can make informed decisions about investing in ways that align with who you are. We think your unique abilities and what God has put you on the earth to do is your long position in the market. That’s what we mean when we say your life is long – the market. what you will learn in this episode: How to de-risk your risk Why low-cost index funds are not the only game in town How to think of banking as a process rather than a product The benefits of indexed annuities Ways to mitigate risk so you can pursue the life you want What real diversification looks like How to create multiple income streams from one common interest

When someone you know and respect recommends a product or service, that makes a huge difference in your opinion of that product or service. The good news is you don’t have to be a blockbuster movie to utilize the power of product placement. And you don’t have to hire a Kardashian to gain the benefits of influencer marketing. In Episode #33, Phillip and Bryan talk with Stacy Jones about the power and accessibility of influencer marketing and product placement. You don’t have to be a multi-national corporation to do these things. Stacy talks about starting her business and learning some hard lessons along the way that you can definitely benefit from in your business. Stacey Jones is the CEO of Hollywood Branded, a Los Angeles-based marketing, branded content, and product placement agency. She has 23 years of leadership experience building global branded content campaigns for top fortune 500 companies, utilizing hundreds of brands including Blackberry, Bumble, Canadian Club, and Pilot Pen. An acknowledged expert in the field, Stacy has appeared on top media outlets and spoken at conferences around the globe. She also hosts the podcast, “Marketing Mistakes and How to Avoid Them.” What You Will Learn in this Episode: How to transition from understanding a business to owning a businesses Advice on hiring (or not hiring) friends How to manage a business breakup The importance of a robust sales system and pipeline to fuel ongoing growth Basics of influencer marketing Finding the right brand/product placement fit The power of nano and micro influencers

We love it when we can teach clients a core principle and they take it and run with it. We love it, even more, when they teach us about being entrepreneurial and escaping the cubicle of doom. Few are doing that with more energy and outright charisma than our guest. On episode #32, we talk with Molly Rose Speed. Molly went from a corporate job she was not in love with, to running multiple businesses and side projects that are now keeping her very, very busy. She and her husband, Lance, used the principles of uncommon banking (using the cash value of a whole life insurance policy, along with the power of interest accrued on the total policy dollar amount) to fuel a truly uncommon life. Molly has leveraged her experience as a virtual assistant into two business ventures; one teaching others the basics of being an effective virtual assistant, and the other as a total package resource that lets public speakers focus on speaking, and leaving the marketing, booking and back office details to the experts. She and Lance have other side-projects going on that we’ll talk about as well. We dig into at least 3 sources of residual income that Molly and Lance are using to live the uncommon life of their choosing. What You Will Learn in this Episode: Why there is no one right way to escape the cubicle of doom How using even a spare bedroom for Airbnb can make a big impact on cash flow How uncommon banking works in real life Why the thing you are good at is often what the world needs more of How to create businesses around what you are good at Practical ways to broaden your reach with technology How to manage multiple business ventures Finding the right partners for the right project

A big part of what makes us uncommon as wealth advisors is our focus on putting your money to work for you before age 65, not after. You’ve got big dreams for the here and now. And here’s the thing: YOU are your greatest asset. We think that investing right now in you and your dreams is the way to gain dividends now and into your bright future. In Episode #31 of the Uncommon Life Project podcast, Bryan and Phillip discuss the two types of money: now money and later money. How do you look at your dreams for the present without stealing from retirement? There are so many ways to grow your wealth besides a 401(k) or IRA. There are strategies that help you grow your money so it is not all stockpiled into that bucket you can only access later. It’s good to delay gratification, so this is not about having access to your money so you can throw it away. It’s about investing in things that make sense now and in the future. It’s about NOT delaying the things you are most passionate about. It’s about growing your now money so you can design the life you want for now and into the future. What You Will Learn in this Episode: How to create time and money freedom in your life before age 65 Why an employer match contribution is no reason to stay in a job you don’t love How to create the equivalent of an employer match by the way you invest Why, “When do you want to retire?” is not the best question to ask How to invest in your greatest asset: YOU Why interest rate is not the only consideration when looking at savings instruments vs. debt instruments How to design your life with time and financial freedom Why the stock market should not be held up as an example of compound interest

Owning one rental unit can help your cash flow. Two is better. The more you rent, the more money you have flowing through your economic engine. But there are challenges too. Buying an 8-plex rather than 6 to 8 separate units creates economies of scale that are hard to ignore. That’s what happened with guest Kevin Bourke. As a coach for Iowa State University in Ames, he was looking for some side income to augment his coaching salary. Coaching track in the ’80s and ’90s was not a huge money-maker. On our most recent episode of the Uncommon Life Project, we talk with our good friend Kevin Bourke about rental dos and don’ts, finding faith, and finding ways to provide mentorship to young people who are interested in business and looking for guidance. We even have an announcement about a joint venture with Kevin at the close of the podcast, so listen in! When he is not managing his properties, Kevin Bourke serves as Chief Operating Officer of the Iowa Games, a statewide Olympic-style competition that is one of the biggest in the country. Prior to this, he spent years as a track and field coach at Iowa State University. What You Will Learn in this Episode: How you could leverage the equity in one property to purchase another How to manage side gigs along with your main gig The importance of mentorship for young entrepreneurs How to stay sane while having a hand in multiple projects at once How faith can bring your purpose into clearer focus Leveraging other people’s money to grow wealth How to build wealth through the cyclical ups and downs of the economy News about a really exciting venture

Growing old and needing more care as we grow older – it’s just part of the circle of life. And before it happens to us, we all will likely help at least one loved one through the process. How do you plan for and help loved ones best plan for aging? What resources are needed to pay for an assisted living and nursing care facility? These are BIG questions, and having someone who knows how to navigate them is hugely important. We have that someone. On episode 29 of the Uncommon Life Project podcast, we speak with Evan Jackson. Evan is a person with the tools you definitely will need at some point in your life. Understanding how to plan for nursing home or assisted living facilities may not be top of mind, but you should definitely take time to understand and plan for it. Evan is a Certified Medicaid Planner and a Licensed Health and Life Insurance Agent. He’s an Iowa native from Rockwell City. He received his Bachelor’s degree from Simpson College. While pursuing his Doctorate, Evan began building Iowa Senior Planning with its founder, Landon Sandberg. What You Will Learn in this Episode: Rules for Medicaid eligibility Setting up an Irrevocable Trust Understanding the financial dos and don’ts when it comes to Medicaid Life insurance and annuity options that protect assets Whether or not to purchase long-term care insurance The average cost of assisted living and nursing home care What assets are exempt from consideration when applying for Medicaid

When people ask us what we do, we don’t really have a pat-answer elevator speech to give them. Phillip was recently approached at a party, and answered with the question: “What keeps you up at night?” This episode of the Uncommon Life Podcast is all about that question. When we work with clients, we want to discover those financial questions – the concerns that gnaw at you and maybe even keep you up at night. Helping you move beyond those concerns is right in our wheelhouse, and it’s what we are digging into here in Episode 28. Most of the time, people’s concerns boil down to: how can I pursue a dream I have now, without stealing from the money I will need in retirement? You’d be surprised at the creative solutions you might have right at your fingertips to answer that question. That’s really where we come in – to help you find those creative solutions. So if your question is just, “how can I fund a Roth IRA?” we might not be the right fit for you. We can definitely help you with that, but our wheelhouse is really to take your uncommon goals and help you find uncommon ways to solve that equation so you can meet those goals. What You Will Learn in this Episode: Why rate of return does not keep most people up at night The kinds of financial concerns that DO keep people up at night How exploring what you are passionate about can be the financially prudent thing to do Creative ways to finance your dreams today, rather than putting them off until retirement The mindset shift needed to give yourself permission to chase your dreams Why benefits alone shouldn’t be a barrier to escaping your cubicle prison Why taking the uncommon path can be the best decision to make

What does it take to scale a business from a $2,000 initial investment to one that serves customers in tens of thousands of venues all over the Midwest? Let’s dig into that. On Episode 27 of the podcast, we talk with Dereck Lewis about how he took his grandma’s cookie recipes and turned them into a business that has had a 100% growth rate each year since it started in 2012. For one thing, it takes the right mentors. It might take a little bit of “this is my last best chance” kind of mental motivation. And it takes a ton of hard work. Dereck Lewis is the owner of Thelma’s Treats, makers of handmade ice cream sandwiches that are, well, delicious. Dereck started this venture after sticking a toe into the worlds of insurance and real estate. This is a fascinating conversation – it’s kind of the podcast equivalent of a buddy movie for start-up nerds. Dereck digs into the challenges he faced early on, talks about two great mentors that helped immensely and also provided some tough love. If you are looking for an engaging, fine-grain look at how to scale up a business, this will be time very well spent. What You Will Learn in this Episode: How to scale a business starting with a bootstrap and a prayer Lessons from growing up in a family business How to build in resilience in an up or down economy How to pivot to the segment of the business that is working best The role of faith and principles in the way you run your business Knowing when to level off growth in a business Building a track record that will attract lenders Finding the right mentors who will tell you the truth and help you grow How to scale a physical infrastructure-heavy business

Entrepreneurs tend to run on creativity and adrenaline. Setting up processes and systems? That’s boring stuff. But that’s the stuff that turns a great idea, all that creativity, and adrenaline, into a thriving business. Our guest on this episode knows a lot about all of these components. Mark Stanley has started multiple businesses and is a coach and consultant helping entrepreneurs with exactly these issues – creating scalable and repeatable processes – and IMPLEMENTING them into your business. He’s made a huge difference for Uncommon Wealth Partners, so we had to have him share his wisdom! Mark is the founder of the WHY! Company – a business consultancy that helps business leaders clarify, simplify and achieve their vision. He is a successful business leader who has consulted with over 100 companies, sits on a number of advisory boards and owns a few businesses. Mark is a sought-after and trusted advisor who believes that you must create value before you expect anything in return. Mark has worked with many different types of organizations in just about every industry. He is an Entrepreneurial Operating System (EOS) implementer, using this and other tools to help companies grow and thrive. In all of his work, he has found a few universal truths across all organizations that involve people and processes. Mark believes that learning is the fountain of youth that keeps you inspired and motivated to do something great each day. Mark spends about 10 days a year in seminars learning from the best-of-the-best. He earned a BBA in Finance with Honors, from the University of Iowa, and an MBA from Drake University. what you will learn in this episode: How the Entrepreneurial Operating System (EOS) works Overcoming confirmation bias in conflicts at work Creating scalable and repeatable processes Unlocking potential by creating systems that match your vision and grow your business Why the pursuit of mastery is so necessary for success How to learn and grow when things go wrong Using EOS principles at home to get more unified and have less friction around collective goals How to create a life of freedom in time, money, and relationships Getting out of the prison of “I should” or “I shouldn’t” Setting family goals as well as business goals

Welcome to Season Two of the Uncommon Life Podcast! We had such a wonderful experience in our first year! If you’ve been listening for awhile – thank you for listening and for sharing your thoughts on how to make the podcast even better in the future. If you are checking us out for the first time, welcome! In this episode, we wanted to jump right in and talk about shifting your mindset when it comes to following your dreams. When we talk with people about their hopes and dreams, 9 times out of 10, it is things they would like to accomplish in the next 1 to 3 years. But the common way people save and use money means that those dreams are more than likely deferred until retirement. We would say that's kind of a flawed system. You should start trying to do more of what you love doing right now. It's mindset over money and when you have that mindset, you take control of things in the future. This isn’t magical thinking. We help people accomplish this, and we want that for you. Welcome to the Uncommon Life! What You Will Learn in This Episode: How to change your mindset and not put things off until retirement Facilitating your dreams for the present without stealing from your future Doing now what God has designed you to do How to embrace and invest in what you are passionate about Why productivity and purpose lead to a happier, healthier retirement Why, even in retirement, you don’t need to think of your income as fixed The importance of taking time now to think about hopes and dreams How planning for your dreams can happen today, whatever your age Why the stock market is not the best place to look for passive residual income

What happens when the person you are married to has entrepreneurial dreams, hates that cubicle life and has plans and ideas that go WAY beyond the 9-5 grind? It can be tough, to say the least. Without respect and understanding of each other’s perspective, things can go sideways in a relationship very quickly. But it does not have to be that way. In our most recent episode, we explore the wild and wildly fruitful entrepreneurial path of Rashard and Adaeze Duncan. They have their hands in real estate, network marketing, an educational platform, and other projects. We call them a power couple, and that’s pretty accurate. You can guess – it wasn’t always smooth sailing. Rashard took one look at the cubicle life after college and ran the other way. Adaeze was happy and comfortable in her job teaching. Until she wasn’t. They have so much to teach about risk taking and having each other’s backs as a couple. What You’ll Learn in this Episode: How to maintain a positive relationship when one is a risk-taker and one is risk-averse Building a career around your strengths, rather than jumping at the first and/or safest opportunity What to look for and pitfalls to avoid in network marketing How to thrive in a two entrepreneur family Managing multiple income projects and income streams Modeling entrepreneurship to your kids Understanding your “number” – what you need to earn in a month to leave your 9-5 Finding mentors who demonstrate the results you are looking for The opportunities open to you when you realize you are allergic to cubicles

We say it often: short-term rentals are a great way to stick your toe in the water in exploring investment properties. But there are still a lot of unknowns as you start out. Like the basics – how much should I charge? What is your competition? Does this place even need short-term rentals? First, the opportunities are greater than you might think. Second – the data is there to answer many of your questions. Our podcast guest has answers, and he is working hard to mine the data for even more detailed answers. On our most recent podcast episode, we talk to Scott Shatford who started renting his home on AirBnB when he went away on extended travel. He immediately saw the potential. His background in data analytics gave him an idea: why not create a repository for data that can help short-term renters understand their market? AirDNA.co was born. AirDNA is an aggregator of short-term rental data & insights to help owners succeed in the sharing economy. What You’ll Learn in this Episode: Why good data about short-term rentals in your area can help you make smarter business decisions How and when to scale and automate your short-term rental business Revenue and channel management strategies for short-term rentals What people are looking for in a short-term rental Hotel industry efforts to regulate or outright squash short-term rental businesses and what to do about it What you can learn about a potential rental property from “The Rentalizer” beta testing on airdna.co Growing business opportunities that complement the short-term rental industry. How to locate the best places to invest in short-term rental properties How to create a unique guest experience for your ideal guest

One of our guiding principles is to help people think about earning money in ways way beyond their paycheck. That’s what the 7 Sources of Residual Income are all about. On our latest duocast, we dive into 4 of these sources that you might not think of. Some of them you might even dismiss as something you can’t or won’t do. We dig into royalties, subscription models, affiliate and network marketing, and try to take away some of the mystique and misconceptions around them. Never say never! You might be surprised at the ways you can receive royalties on your original work. You might be surprised at the number of millionaires who are network marketing experts. You might be surprised that your business could be the perfect fit for a subscription model, giving you consistent cash flow and a solid client base. You might be surprised at what you can earn on what has been a hobby for you, through affiliate marketing. And as usual, we don’t mince words. We want you to understand best practices around these income streams. Excellence and mastery are earned, so easy riches are not part of the conversation here. What You Will Learn in this Episode: The different categories of royalties What real diversification looks like 3 sources of residual income to turn hobbies into cash flow Why licensing an invention might be better than building a business around it Earning money with your content through affiliate marketing Similarities and differences between subscription and affiliate models How a subscription model could bring consistent cash flow to your business Why subscription models are a win for both the client and the provider How network marketing is done right