PODCAST EPISODE 192: Your Financial Sacred Cows Could Be Milking You

EPISODE SUMMARY

Have you questioned your financial beliefs recently? Some would say we have a tendency to hold onto our “sacred cows” and stick with financial practices because it’s “always been that way”. Check out this live podcast with Paul and Cory as they breakdown our financial sacred cows.

WHAT WAS COVERED

00:35 Episode Begins.
00:35 – Paul Welcomes.
01:38 – Cory Explains Title.
04:00 – 401ks and how they came into power.
07:14 – Reverse tax planning.
09:10 – What is a financial entertainer?
14:15 – Paying down your house
18:25 – Stock Picking
27:15 – How to connect to Sound Financial Group
29:55 – Baby planning. Money making.
34:05 – Spending money shouldn’t be your dopamine hit.
39:26 – Episode Conclusion
40:35 – Episode ends, thank you for listening.

TWEETABLES

[Tweet “Paul on 401k planning: ‘Even if you retire on a portion of your income that you made in your mid-fifties you’ll still be in a higher tax rate even if tax rates don’t change when you get into your old age.’ #YourBusinessYourWealth”]

[Tweet “The financial world is saying that either you can hire someone to do stock picks or you can stock pick yourself, but it’s a myth there selling. #YourBusinessYourWealth”]

[Tweet “We don’t want to bank on any single asset class because that’s just market timing and stock picking in disguise. #YourBusinessYourWealth”]

LINKS

Curious what you can accomplish with our help? Schedule a free 15-minute meeting with us! sfgwa.com/scheduling

Sound Financial Group’s Website for a Financial Inquiry Call – [email protected] (Inquiry in the subject)

Your Business Your Wealth on Instagram

Your Business Your Wealth on Facebook

Sound Financial Group on LinkedIn

Paul Adams on LinkedIn

Cory Shepherd on LinkedIn

Cape Not Required (Cory’s Book)

Sound Financial Advice (Paul’s Book)

Clockwork: Design Your Business to Run Itself

Mike Michalowicz’s Book – Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Loserthink: How Untrained Brains Are Ruining America

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MUSIC CREDITS

Contains a sample of “King” by Zayde Wølf courtesy of Lyric House.

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Transcribed by https://otter.ai

This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation.

Sound Financial Inc. dba Sound Financial Group is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Insurance products and services are offered and sold through Sound Financial Inc. dba Sound Financial Group and individually licensed and appointed agents in all appropriate jurisdictions.

This podcast is meant for general informational purposes and is not to be construed as tax, legal, or investment advice. You should consult a financial professional regarding your individual situation. Guest speakers are not affiliated with Sound Financial Inc. dba Sound Financial Group unless otherwise stated, and their opinions are their own. Opinions, estimates, forecasts, and statements of financial market trends are based on current market conditions and are subject to change without notice. Past performance is not a guarantee of future results.

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