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The Biggest COLA Increase Since 1981

Fri, 21 Oct 2022 08:00:00 -0400

Welcome back to Navigating an Abundant Retirement Radio. As the sun sets on your career and every day is about to become Saturday, you will be faced with issues such as: how to effectively take required minimum distributions (RMDs) from your traditional IRA or 401(k), when to start taking Social Security, how Social Security payments are taxed, whether to convert your traditional IRA to a Roth, how to recover from a bear market (one of our topics in the last episode), finding good alternatives to low-yielding CDs or savings accounts, and how to come up with a creative way to leave a legacy to your grandchildren and great-grandchildren.

Another timelier issue is that of inflation and last week we received confirmation that those receiving Social Security would receive the biggest COLA increase since 1981.

Mentioned in this Episode

Congress has COLA increases pegged to rising inflation
Consumer Price Index (CPI)
Social Security Benefits Tax
Annuity
Baby Boomer Dilemma

Favorite Quotes

"While there’s been a great deal of talk about inflation this year, the increase depends on the much-anticipated official numbers: the third quarter’s Consumer Price Index (CPI) is measured against the CPI of the previous year, and the COLA is calculated from that.." - Carol Dewey

“As a financial advisor, I have helped many seniors reduce or completely eliminate the taxation on their Social Security benefits – simply by moving tax-free bonds or CDs just sitting in the bank into deferred or income annuities. If you have a large pension or other income from an asset that cannot be moved into an annuity, you will likely be paying taxes on up to 85% of your Social Security benefits.” - Carol Dewey

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We invite you to get the answers you need about your financial plan in one of our exploratory meetings. To receive the benefits of a valuable fiduciary second opinion, a Net Retirement Income Analysis, a Social Security Maximization Report, a Blueprint of your current portfolio, a Tax Consultation through the 4 stages of retirement or an Estate Planning Review schedule your consultation now. There's no obligation! (https://www.talk2carol.live/schedule-retirement-revitalization-consult)

Watch the Baby Boomer Dilemma Movie here:

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How To Repair Bear Market Damage and Deal With Market Risk

Fri, 07 Oct 2022 08:00:00 -0400

Welcome back to Navigating an Abundant Retirement Radio. This week you will find out why Carol is so fired up, how to repair bear market damage, and deal with market risk.

Mentioned in this Episode

Tax arbitrager
Fixed Annuity
Fixed-Period immediate income annuity
Lifetime income annuity

Favorite Quotes

"Money is an extension of people’s energy, their stored value…and it is being devalued in so many ways." - Carol Dewey

“Without the right information, strategy, team, or collaboration, most people make the mistake of letting the tax tail wag the dog…. meaning, they do things for tax deductions they wouldn’t otherwise do AND it confiscates and destroys wealth.” - Carol Dewey

“Annuities are simply a risk management tool. Annuities are not bad but there are “bad” annuities. When it comes to market risk – manage it, put a floor under it, or eliminate it!.” - Carol Dewey

Engage with Carol Dewey

Get the answers you need about your financial plan in one of our exploratory meetings. To receive the benefits of a valuable fiduciary second opinion, a Net Retirement Income Analysis, a Social Security Maximization Report, a Blueprint of your current portfolio, a Tax Consultation through the 4 stages of retirement or an Estate Planning Review schedule your consultation now. There's no obligation!

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https://www.talk2carol.live/schedule-retirement-revitalization-consult

Institutions Americans Depend On Are Going To Let Them Down in Dramatic Fashion

Fri, 23 Sep 2022 08:00:00 -0400

Welcome back to Navigating an Abundant Retirement Radio. This week we will cover the recession and what it means as well as why Carol believes the institutions Americans depend on, such as the government, Wall Street, and the banks, will let them down dramatically.

Mentioned in this Episode

Favorite Quotes

"The length and depths of a recession are typically the factors that determine the amount of pain in stock and bond assets." - Carol Dewey

“ A good financial advisor will be able to ascertain your circumstances and offer solutions.” - Carol Dewey

“You don’t need to hit the next big stock or crypto run to be a great investor.” - Carol Dewey

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9 Common Money Mistakes Entrepreneurs Make and The Cure for Investment FOMO

Fri, 16 Sep 2022 08:00:00 -0400

Welcome back to Navigating an Abundant Retirement Radio. This week we are going to cover the 9 common money mistakes entrepreneurs make and then follow-up the discussion with the cure for investment FOMO

Entrepreneurs are smart, creative, caring, and passionate. They are some of the most innovative minds and interesting people to talk with.

And sometimes… they make BIG MISTAKES with money!

In This Episode

1:02 - Mistake #1: You don’t prioritize saving money.

1:47 - Mistake #2: Your prices aren’t sustainable.

2:58 - Mistake #3: You aren’t properly protected.

3:47 - Mistake #4: You’re paying too much in taxes.

4:21 - Mistake #5: You’re doing your own bookkeeping!

4:52 - Mistake #6: You gamble instead of investing.

5:50 - Mistake #7: You’re not investing in yourself!

6:30 - Mistake #8: Your money is locked away.

7:14 - Mistake #9: You wait too long to get professional help.

8:26 - Cure for Investment FOMO

11:43 - What IS The Single Most Important Factor For Investing Success

13:15 - Become a Master

Favorite Quotes

"Without the right Mental or Relationship Capital, the Gamestop short squeeze would not have aligned with your “Investor DNA.” Which means it was not a fit for YOU." - Carol Dewey

“ Confidence comes from knowing you have the skills, ability, and experience to succeed.” - Carol Dewey

“You don’t need to hit the next big stock or crypto run to be a great investor.” - Carol Dewey

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What Wall Street Doesn't Want YOU To Know

Fri, 09 Sep 2022 08:00:00 -0400

This week Carol discusses investment questions investors should ask and what Wall Street doesn’t want you to know.:

Financial and political power congregates on Wall Street… it’s the epicenter of the American financial universe and the subject of many movies about the ruthless and the rich. Few people question why Wall Street holds the purse strings of our nation. To the average American investor, putting your money into stocks, bonds, and mutual funds is “what you do.” Rarely do we ask the right investment questions.

In This Episode

0:35 - Financial and political power congregates on Wall Street

1:15 - A little-known fact that ought to make investors furious

3:22 - “Max out your 401(k)” Mantra

3:52 - What doesn’t Wall Street want you to know?

4:39 - What questions should you be asking?

10:11 - Stocks and mutual funds

Favorite Quotes

"The strength of an investment can be measured by if and how you can collateralize it." - Carol Dewey

“ Prosperity Economics empowers individuals to build wealth and financial confidence while maintaining control of your financial strategy, beliefs, and investment choices.” - Carol Dewey

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Understanding the Truth About Our Economic System

Fri, 26 Aug 2022 08:00:00 -0400

In the last couple of episodes, Carol covered the 7 Principles of Prosperity as the organizing principles of Prosperity Economics that guide our products, strategies, and decisions. She also mentioned that they can also act as an “opportunity filter” to help us find new ways of thinking and greater money mastery. Also, she discussed a couple of examples of what it looks like when you apply these principles and today, Carol shares a couple more examples and wraps up our Prosperity Economics series.

In This Episode

1:12 - Creating Income

4:49 - Reverse mortgage

5:49- Single Premium Immediate Annuities

7:17 - What is an Immediate Annuity?

9:57 - Real Estate

Favorite Quotes

"Typical financial strategies for income may not even keep up with inflation!." - Carol Dewey

“With typical strategies, people should be afraid of running out of money. With Prosperity Economics, you have greater flexibility and control..” - Carol Dewey

“ While it is nearly impossible to pinpoint exactly how long you will live, it is entirely possible to make sure that you are provided with (at least) a minimum income for the rest of your life.” - Carol Dewey

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7 Principles of Prosperity Acting as an Opportunity Filter

Fri, 19 Aug 2022 08:45:00 -0400

This week Carol continues the discussion on personal finances and the application of the 7 core Principles that guide those practicing Prosperity Economics and what it looks like when you use them…

We use the 7 Principles of Prosperity – along with a lot of testing on calculators and real-world case studies - to guide our financial decisions. Practicing Prosperity Economics means acting in accordance with these 7 Principles.

In This Episode

2:21 - Saving Money (save as a verb)

4:55 - College Education

9:03 - An entrepreneur we know was in the forestry business

7:55 - Producing almost 18% cash-on-cash return

10:14 - Circle of Wealth

12:34 - College Education

14:47 - Prosperity Economics solutions for financing a college education

Favorite Quotes

"We say "save," not "invest," because insurance is not classified as an investment!." - Carol Dewey

“Saving money is just the foundation... the first step to putting yourself in a position where you can put that money to work through "real" investments or other strategies.” - Carol Dewey

“ When people build up their savings and liquidity and have the ability to invest significant sums of money, new opportunities will suddenly start coming their way!” - Carol Dewey

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7 Principles of Prosperity Economics

Fri, 12 Aug 2022 08:00:00 -0400

This week Carol continues the discussion on personal finances. This is Part 3 of this series and today she will cover the 7 core Principles that guide those practicing Prosperity Economics and what it looks like when you use them…

In This Episode

2:21 - Comparisons of a Prosperous Mindset vs. scarcity thinking

4:55 - Our own cash has a cost

9:03 - Successful wealth-building is not about amassing the biggest pile of money

7:55 - Ways to control your wealth

10:14 - Velocity movement is what creates cash flow

12:34 - Best way to move your money

14:47 - Multiple jobs in investment real estate

Favorite Quotes

"if we believe there is “never enough”, we could find ourselves compulsively spending every penny we make (and then some). Our thoughts will literally become our reality!." - Carol Dewey

“When people measure opportunity costs, they tend to increase their assets and cash flow.” - Carol Dewey

“ successful wealth-building is not about amassing the biggest pile of money we can, but it’s about using our wealth (dollars, skills, knowledge, etc.) to create a sustainable life that inspires us, empowers us, and enables us to offer our deepest gifts.” - Carol Dewey

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Financial Problems

Fri, 05 Aug 2022 08:00:00 -0400

This week Carol continues the discussion on personal finances. This is part 2 of the 5-part series where she addresses the financial problems where lack of automation and simplification combined with inflation equals decimation.

We've been conditioned to be skeptical towards the financial choices that actually make MORE sense, but not to question the options that offer investors poor or unpredictable results.

In This Episode

3:16 - What can we DO to protect ourselves and escape insanity?

4:03 - Categories of wealth

5:44 - Now, let’s talk about the Actions.

7:55 - Wealthy People and Prosperity Economics.

8:14 - People tracked their savings instead of their credit card debt.

9:32 - Saving money is something that we can control

11:06 - Prosperity Economics seeks to protect principle

Handout: Prosperity Ladder

Favorite Quotes

"saving money is something that we can control." - Carol Dewey

“Prosperity Economics seeks to protect principle as it grows, rather than chase unreliable returns” - Carol Dewey

“Prosperity also includes health, happiness, and the fulfillment that comes when we live our purpose, dwell in gratitude, and do the right thing.” - Carol Dewey

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The Truth About Personal Finances

Fri, 29 Jul 2022 08:00:00 -0400

This week Carol wraps up our celebration of Economic Independence Month by discussing the truth about personal finances! This will be the first of a 5-part series where she will introduce the concept of Prosperity Economics.

In This Episode

2:05 - Your ideas about retirement

2:28 - 87 is the new 65

7:38 - Numbers around retirement flat out just don't work

8:17 - Find work you love and do it for as long as you can!

8:22 - "Half-truths."

9:58 -"Plan B"

Favorite Quotes

"Don't "just" listen to the material presented in these episodes. Take action. Your money and your future depend on it." - Carol Dewey

“Money is about meaning, not materialism” - Carol Dewey

“Language is very powerful. Language does not just describe reality. Language creates the reality it describes.” - Desmund Tutu

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12 Habits of Wealthy People

Fri, 22 Jul 2022 08:00:00 -0400

What separates the wealthy from the working class?

In this episode, Carol explores several HABITS that affluent people have in common. How do the wealthy get that way? What determines your level of wealth and success—is it luck, education, or the size of your inheritance?

Tune in as Carol looks into how your daily routine as well as your money habits and see if your behavior matches those who have the success you desire!

In This Episode

2:21 - Wealth Habit #1: Save systematically and automatically.

2:58 - Wealth Habit #2: Know what you spend.

3:49 - Wealth Habit #3: Take calculated—not foolish—risks.

4:31 - Wealth Habit #4: Focus on opportunities, not problems.

5:20 - Wealth Habit #5: Wealthy people prioritize health.

6:16 - Wealth Habit #6: Have a morning success routine.

7:02 - Wealth Habit #7: Be intentional with your time.

7:29 - Wealth Habit #8: Rich people are lifelong learners.

8:22 - Wealth Habit #9: Own your results.

8:47 - Wealth Habit #10: Surround yourself with like-minded people.

9:22 - Wealth Habit #11: Wealthy people don’t retire.

10:49 - Wealth Habit #12: Wealthy people give back.

Favorite Quotes

"Do what you love as long as you can and keep creating prosperity." - Carol Dewey

"If you want to build more wealth, knowledge is not enough. You must also pay attention to habits. Look at your daily routine, as well as your money habits, and see if your behavior matches those who have the success you desire." - Carol Dewey

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Your Cash from Scratch Guide to Creating Income

Fri, 15 Jul 2022 08:00:00 -0400

2020 is over and the majority of the world has opened up again, yet many people are realizing that there’s more to life than a job they dislike. After record-high unemployment rates a couple of years ago, more people are seeking jobs that feel fulfilling. After all, times of crisis are also times of great opportunity!

In This Episode

1:51 - Step 1: Start With Your Mindset

3:53 - Step 2: Assess Your Resources

5:40 Step 3: Start Creating Income!

5:57 - Working on a virtual team

7:47 - Option is to use your skills to freelance from home

16:47 - Step 4: Focus on Forward Progress

Favorite Quotes

“Empower yourself by looking for how you can provide VALUE and EARN results! .” - Carol Dewey

"No employer, customer or client hires you because of your education, your resume, or your experience. They decide to work with you because they have a need they believe you can solve." - Carol Dewey

Articles: https://www.sidehustlenation.com/clarity-fm/

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Life, Liberty and The Pursuit of Happiness

Fri, 08 Jul 2022 08:00:00 -0400

Happy 4th of July Holiday Weekend to Everyone!

In this episode, Carol would want to kick off our celebration of Economic Independence Month (July) and help you beat this recession and fight high inflation with 15 ways you can create cash flow. At Perpetual Wealth Financial and Secure Horizons Agency, we believe everyone should build the life they love so they can enjoy life to the fullest.

In This Episode

5:10 - The good news

5:51 - 15 ideas on ways to earn more income

13:03 - Augusta Rule

18:25 - The first step to future passive income

Favorite Quotes

“Is there really such a thing as passive income?” Yes, there is! True passive income isn’t quite as rare as Santa Claus or the Easter Bunny. There can be a LOT of grey area between earning active income (such as a job) and completely passive income.” - Carol Dewey

"While most people are focused on “saving for retirement,” consider what you can start doing now that will generate cash flow for years to come!" - Carol Dewey

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Understanding the Benefits of Risk Pooling and Longevity Credits

Fri, 17 Jun 2022 08:00:00 -0400

Welcome back to Navigating an Abundant Retirement Radio. This week, Carol shifts the discussion regarding the Map to Economic Independence to the Distribution Dilemma. Her discussions regarding economic independence are where we have enough recurring revenue, also known as cash flow, to cover our basic expenses. So far, her discussions have revolved around the accumulation phase before retirement.

In this episode, Carol answers the question of how you can draw down and distribute your retirement savings once the bell sounds and your career is over will determine whether or not you run out of money.

The distribution dilemma and the various risks to your nest egg once you retire are the focus of today’s discussion.

Enjoy!

In This Episode

1:14 - Saving for retirement is actually the easy part.

2:36 - Fixating more on Wealth Accumulation

3:36 - Distributing assets

4:07 - Certificate of Depreciation

4:44 - Figuring out the right accumulation and distribution strategies for your retirement

5:09 - People are living longer than ever before

8:00 - Longevity Credits?

12:54 - Deflation may be the biggest risk in the short term

15:26 - June is annuity awareness month

15:40 - Boomer Movie

The life insurance industry was built for markets like the one we are facing now – life insurance and annuities can be the solution to many of today’s personal finance dilemmas, as these products are based on math and science.

Bonus

Get exclusive access to the “Baby Boomer Dilemma” and follow this LINK to get your promo code and get access to a streaming version of the movie so you can watch it on any of your devices.

Favorite Quotes

2:09 - “The sooner you can start putting money away, the better.. ” - Carol Dewey

3:11 - “ Even if you save up your goal of $1 million or $5 million or whatever amount you decide, you could still squander it all away in poor investments or by withdrawing it too quickly.” - Carol Dewey

3:31 - “Distributing assets in a way that ensures you get the most out of your retirement without running out of money is a difficult balancing act and should be taken even more seriously than accumulation“ - Carol Dewey

4:57 - “The longer you live, the more likely you'll withdraw too much. The longer you live, the more likely you'll see inflation. The longer you live, the more likely you'll need long-term care.” - Carol Dewey

12:26 - “The riskiest time to invest is right before or right after retirement.” - Carol Dewey

14:10 - “Social Security is simply a guaranteed paycheck for life.” - Carol Dewey

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Bulletproof Wealth: Four Keys to Economic Self-Reliance

Fri, 10 Jun 2022 08:00:00 -0400

Welcome to the sixth episode of the Navigating an Abundant Retirement Podcast. This week we are going to continue our discussion regarding the Map to Economic Independence. This week we will be talking about Bulletproofing Wealth and the Four Keys to Economic Self-Reliance as well as provide 3 ways you can create cash flow using crypto currencies.

Enjoy!

In This Episode

Bulletproof Wealth: Four Keys to Economic Self-Reliance

1:54 - Key #1: Take Your Income Into Your Own Hands

3:19 - Self-Reliance Key #2: Diversify Your Income

4:53 - Self-Reliance Key #3: Save Like a Millionaire

6:53 - Self-Reliance Key #4: Don’t Leave Your Wealth to Chance

11:03 - Cash Flow Method #1 is Staking

13:09 - Cash Flow Method #2 is Yield Farming

14:54 - Cash Flow Method #3 is Lending

Favorite Quotes

2:31 – “when self-employed people develop the ability to find customers and make sales, they become immune to unemployment. ” - Carol Dewey

2:38 - “ those who work for themselves create their own income, and can raise their own ceiling. ” - Carol Dewey

2:46 – “being an entrepreneur develops a different mindset than that of an employee “ - Carol Dewey

06:53 – “ A fool and his money are soon separated — so don’t be foolish with your money!. ” - Carol Dewey

9:12 – “ Building bulletproof wealth that carries you through a difficult economy is important to your Prosperity. ” - Carol Dewey

10:50 – “What many people don’t realize is that there are three ways to generate cash flow with crypto, which means you get paid no matter what the price is doing.” - Carol Dewey

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Let's Talk about INFLATION

Fri, 03 Jun 2022 08:00:00 -0400

This week Carol addresses inflation. Inflation is the gradual rise in prices and decline in purchasing power of your dollars over time. Inflation is at its highest level in 40 years.

Tune in as Carol touches on inflation after years of it being a non-issue. Let's listen and find the meaning and the cost of inflation to you.

In This Episode

1:33 - Inflation Blip?

2:43 - The Difference between then and now

4:09 - Inflation is a stealth tax in reality

5:01 - Effect on Americans purchasing power

5:37 - Protecting the nest egg

7:02 - An Example

7:36 - Bill Reichstein

8:32 - Fighting Inflation

14:55 - Inflation Hedge

16:07 - The reason we like 60/40

Favorite Quotes

"There is no good answer or no perfect answer" - William Bernstein

"Buy gold if you want to hedge inflation, but don't buy gold as part of a doomsday scenario" - Carol Dewey

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The Map to Economic Independence Part 4: Cash Flow

Fri, 27 May 2022 10:30:00 -0400

In this last part of the four part series, Carol continues to talk about The Map to Economic Independence, we will gain clarity about the single most important part of mapping out your path to economic independence or the state of having enough cash flow to cover your expenses.

As people begin to gain momentum and success, those distractions, disguised as opportunities, pull them off course. They look good on paper, but then they get involved in something they don't understand. Ultimately, it destroys time when it loses again. Competence is undermined, and it goes against their investor DNA. This is the cause of our economic losses, setbacks, and inability to achieve economic independence. Becoming a better investor requires awareness, skill, and discipline to trust and stick to your investor DNA.

In This Episode

1:15 - Net Cash Flow

2:19 - The single most important thing that is really economic independence

3:18 - Taking Personal Responsibility

3:38 -Being stuck in the accumulation mindset

4:38 - That one thing that saved me the most

6:00 - Trading time for money

7:55 - The power to multiply results

10:57 - How do I set up my finances to be more stable?

14:24 - Mistakes that people make when they try to reach economic independence

15:47 - Focus rather than Diversify

16:52 - The single most important part of reaching economic independence fast

18:53 - The core components of becoming a more powerful investor

22:48 - Three buckets in the framework

24:56 - Employee Retention Credit

28:18 - Place I've been putting some of my own money

29:52 - Create penalty-free cash flow

Favorite Quotes

"Financial freedom is a state of being of, or a state of mind where money is no longer your primary reason or excuse for doing or not doing something" - Carol Dewey

"What you do right now will be, and what makes the difference for the long term?" - Carol Dewey

"Never in our history, did we have more people saying what they learned in what I'm going to teach you today and what they learned from us, helping them not only survive during that time but thrive." - Carol Dewey

"What can you be doing that will give you the most impact the best life and how do you eliminate distractions?" - Carol Dewey

"If you're only getting 3% on something and paying 6%, pay that off, that's a hundred percent improvement" - Carol Dewey

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The Map to Economic Independence Part 3: Wealth Architecture Blueprint

Mon, 16 May 2022 13:10:00 -0400

Most people create a blueprint of their house to gain a bigger picture view, see what's possible, and understand what they need to do in order to have a solid structure. The same is true for financial life. Having a blueprint for your financial plan is essential for attaining economic freedom. It serves as a comprehensive plan that covers all aspects of personal finances, retirement goals, and helps identify and overcome potential challenges along the way. What are some ways to create a solid financial future plan?

Welcome to the third episode of the Navigating an Abundant Retirement Podcast. This show will be your guide to creating a worry-free retirement. In this episode, Carol talks about what wealth architecture blueprint ,the Five P’s to incorporate in your life and why having a fully integrated financial team is important in working to protect and grow your wealth.

Enjoy!

In This Episode

01:13 – The concept of diversification

01:23 – Carol’s advocacy: Focusing is the right approach

02:24 – Importance of knowing your investor DNA

05:11 – Difference between successful people and highly successful people

05:32 – How to protect the downside of your investment

05:59 – The first P on the wealth architecture blueprint

06:16 – The Rockefellers and Vanderbilts financial family history

07:47 – How Rockefellers family built a sixth generation of passing money

08:49 – Why you should hire right professionals to be part of your financial team

09:18 – The second P on the wealth architecture blueprint

11:32 – Why perspective is important in making decisions

11:59 - The third P on the wealth architecture blueprint

12:47 - The fourth P on the wealth architecture blueprint

13:55 - The fifth P on the wealth architecture blueprint

15:47 – Question to reflect on and actions steps to start implementing into your life

Favorite Quotes

01:27 – “ Put money in the places you know and understand that align with your skills, experience and interests. ” - Carol Dewey

03:34 – “ Risk is in the investor, not the investment. ” - Carol Dewey

05:20 – “ Highly successful people say no, a lot more than successful people, because they're purpose driven. ” - Carol Dewey

08:30 – “ If you're a business owner, then you know how important it is to hire good people. ” - Carol Dewey

09:25 - “ You are in the driver's seat of your own finances in life, in great driving comes from making great decisions. ” - Carol Dewey

11:30 – “ the higher the emotion, the lower the financial IQ “ - Carol Dewey

12:06 – “ When you have a vision, and when you have a purpose, then things get real simple for you.” - Carol Dewey

13:10 – “ Remember, you don't need to do it all at once. Big things are built one brick at a time “ - Carol Dewey

13:34 – “ Make a plan but be flexible. adapt to the challenges and opportunity life throws at you and update your plan as needed. “ - Carol Dewey

16:10 - “Only you know what's best and only you can chart your unique path to economic independence.” - Carol Dewey

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The Map to Economic Independence Part 2: The Road to Real Wealth

Mon, 16 May 2022 13:05:00 -0400

Traditional retirement planning techniques that worked well in the past are no longer effective, and many people are finding themselves unprepared for retirement. People are living longer, so their retirement savings goals do not match their actual needs. How can individuals take control of their own retirement planning and find new ways to save for later in life?

Welcome back to Navigating an Abundant Retirement Podcast. In this episode, Carol will continue the discussion regarding the map to economic independence, from charting the most efficient course to economic independence based on your unique situation, to getting more tactical and giving proven strategies to start seeing more cash flow in your life today.

Enjoy!

In This Episode

02:26 - Identifying and plugging any and all cashflow leaks

04:01 - Few areas to look into for a business owner

09:11 - Analyzing your investments from a cash flow perspective

15:03 - Begin by laying a strong foundation

17:36 - Being protected against catastrophic loss, financial predators, and wealth degradation over time

18:38 - Funding your trust appropriately

20:52 - Vision, the rarest commodity and greatest deliverer value in the world

21:51 - Understanding and mastering your investor DNA

23:28 - Some questions to reflect on and action steps to start implementing these things in your life

Favorite Quotes

08:10 - “So the first thing you want to do, no matter who you are, what you do is plug every single cash flow leak because every dollar saved on a wasted expense goes straight to your bottom line. Not just today either, but every month moving forward.”

10:04 - “The cash flow index or CFI is the most powerful tool at your disposal to quickly pay down debt and maximize your cash flow in the process.

12:06 - “It isn't always about just sacrifice and delay. It's also about living wealthy today.”

17:28 - “Know what you have and why you have it.”

19:33 - “I recommend creating a statement of purpose or what you might want to call a family constitution, because there are a lot of lessons you've learned philosophies, core values, and principles over your lifetime. And when you capture that and put it in your estate plan in your own words, it's extremely valuable to help guide your errors.”

20:58 - “When you have a clear and powerful vision, all kinds of good things start to happen, people become magnetized to you. They want to support you, introduce you to their friends and other people who can support you. You gain energy and can more easily say yes or no to opportunities as they come along. And the universe starts to present you with steps to get closer and closer to your vision.”

21:33 - “ Our vision is to help people become economically independent because when they do, they can be more impactful in their businesses and their daily lives and in their charitable work.”

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The Map to Economic Independence Part 1: Chart Your Course

Mon, 16 May 2022 13:00:00 -0400

Welcome to the premiere episode of the Navigating an Abundant Retirement Podcast. This show will be your guide to creating a worry-free retirement. In this episode, Carol talks about what economic independence is, how to create the map to economic freedom, and what are the four expenses that may or may not hurt your cash flow management plan.

Carol Dewey is an Investment Advisor Representative and the Founder of Perpetual Wealth Financial. She helps business leaders 'Chart Their Course' to financial freedom in the most tax-efficient manner without having to choose between investing in their business, future or lifestyle. Committed to her community, Carol works with business owners to enhance profit margins and to facilitate individualized, personalized and proprietary retirement programs for the purpose of building economic stability and growth.

Enjoy!

In This Episode

00:40 - The concept of economic independence

03:19 - A step-by-step guide to economic freedom

05:59 - What most people think about saving money

07:13 - The formula for optimizing cash flow

10:59 - How to create cash flow from lazy assets

13:50 - The four expenses that may or may not hurt your cash flow management plan

18:41 - The secret to defining your true, authentic vision

23:16 - Key questions and action steps to guide your journey to economic independence

Favorite Quotes

01:05 - "Everyone's dream of economic independence is different. The components are the same, however, and they're dead simple. Your cash flow must be greater than your living expenses and that cash flow can't depend on you showing up to work everyday. Everyone's point A or starting point is also different based on their unique financial situation, skills and experience." - Carol Dewey

03:50 - "If you want to learn to fine-tune your philosophy to focus on cash flow, instead of accumulation start using mindful cash management. Instead of budgeting, shift your mindset from scarcity to abundance. Vision is the rarest commodity in the world." - Carol Dewey

04:58 - "Your greatest asset is your ability to produce, to create value, to solve problems, and to serve other people." - Carol Dewey

06:52 - "Building your net worth is important, but it's not budgeting and saving as much as possible that paves the path to economic independence. It's cash flow." - Carol Dewey

16:35 - "When your mind is free from the worry and stress that comes with uncertainty, there is more room for productive thoughts. Over time, those extra productive thoughts will increase your cash flow and your wealth exponentially." - Carol Dewey

18:19 - "If you do a good job creating and following the map to economic independence we're building here, there will come a day when what you do is no longer about money. It's about meaning." - Carol Dewey

19:46 - "Your value equation is the key to unlocking your unique superpowers. So you can accomplish your dreams and ultimately reach economic independence much faster." - Carol Dewey

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