Financial Freedom Podcast

The ultimate goal of retirement savings is to have a source of income once you leave the workforce for good. One of the scariest things about retirement is that leap of faith that you will still have the money to pay the bills once there's no longer a paycheck.

One way to address this is to plan for streams of income in advance, like annuities, which I discussed in Episode 218. But it's good to have options, which is why in this episode of the podcast I spoke with Tom Wall about how life insurance can create another income stream.

In this episode you will learn:

- How life insurance fits into your retirement savings plan
- How life insurance can be a good investment
- How life insurance gives you "permission to spend"
- What your greatest concerns should be when you retire

One of many financial tools in the retirement savings toolkit is the annuity. Most people have heard about them, and that they provide a stream of income, but beyond that, not much is known.

That's why in this episode of the podcast I bring back repeat guest Michael Karwic to talk about what annuities are, how many types they have, and how they can fit well into your retirement investment strategies. 

In this episode you will learn:

- What an annuity is
- How many kinds there are
- When they are a good idea for you
- How to decide what kind to get

Young people starting out, and especially young families, need to have a good handle on their finances in order to reach and maintain financial freedom. They need to spend below their means and and save for short term and long term goals.

To talk about the importance of doing this, and his new book that discusses **how** to do this, I talked to financial planner and previous guest Joe Okaly, to get the solutions you need to succeed.

In this episode you will learn:

- What a Financial Pinwheel Is
- How it helps you plot your spending and your finances
- How to use it to control "lifestyle creep"

Long term investing and saving is key to building wealth and financial independence. However, that wealth should also have meaning to you. Aligning your financial goals with a cause that resonates with you can transform your life, shifting your focus from mere accumulation to creating positive change.

That's why in this episode of the podcast I talk to repeat guest Derrick Kinney about how you can get clarity on the purpose of the wealth you are building in order to achieve true fulfillment in life.

In this episode you will learn:

- Why connecting money to purpose makes us happier in life
- The benefits of using your wealth for lasting impact
- How to identify a cause that aligns with your values
- Practical steps you can take to reframe your financial goals around a bigger mission

Lots of people dream of owning their own business. They have that entrepreneurial itch that needs to be scratched. But most start-up businesses fail because they are hard to get started and grow.

But what if you were to buy an already thriving business? How would that work? To answer those questions I spoke with CFO and business advisor Karl Maier. He has some great tips and ideas on how to be successful in buying a business.

- How to start discussions with a potential business seller
- What a letter of intent is and how it works
- What critical information you should get from the seller about the business
- What terms you should negotiate
- Ways to get the money for the purchase

Financial literacy is an important part of anyone's education and should start before the student graduates from high school. In Episode 151, I talked with Jake Cousineau on how he teaches it to high school students.

But this is a topic that needs to be discussed more. That's why in this episode of the podcast I talk with Aaliyah Kissick about her efforts to promote financial literacy, especially among the Gen Z.

In this episode you will learn:

- About the Financial Literacy Diaries and how they can help
- How storytelling is important in teaching financial literacy
- How Gen Z workers can win at job search

Achieving financial freedom and meeting long term savings goals like retirement can seem beyond reach. This is often because the concepts of personal finance and investing can seem mystifying, or that myths out there have you thinking that these goals are beyond reach.

Misty Lynch, a Certified Financial Planner, has been helping people demystify the process and bust the myths that may be holding them back. Once I heard about her, I knew I had to have her on the show. Here is our discussion.

In this episode you will learn:

- Why having debt may be a good thing
- Why it doesn't take money to make money
- Why renting is sometimes better than owning
- Why estate plans are for everyone

We all hope to retire some day. The thought of being able to do what you want with your life without having to worry about having the money to pay the bills is the very essence of financial freedom.

But figuring out the path to get there is often the hard part. Where (and how) do you start? When should you start (and what if you're starting later in life)? To answer these questions, I talk with certified financial planner Stephen Kates on how you should lay out your retirement plan.

In this episode you will learn:

- Where to start putting together your plan
- The most common mistakes people make
- How risk tolerance affects your plan
- How to diversify your investments

Many people dream of starting their own business and being their own boss. It is something they built and can be their legacy. But most businesses fail at some point; it's only a matter of time.

To increase your chances of success, you need the right money mindset, not only for your business, but yourself as well. That's why in this episode of the podcast I talk with Justin Buonomo of Journey to Financial Freedom about how to form those mindsets and be successful!

In this episode you will learn:

- How your money mindset impacts things other than your financial stability
- Unconventional strategies for achieving financial independence
- How to build a business that will support your lifestyle
- How to align your lifestyle with your business goals