Are You an Investor or an Entrepreneur? with Buck Joffrey

Are you a highly paid employee or professional? Does your current career allow you to earn substantial income? If so, would there be any reason for you to seek a different path? Would you like to become an entrepreneur or an investor? In today's episode, Russ and Joey speak with Buck Joffrey, a surgeon turned entrepreneur and investor. Buck talks about his decisions and actions after reading Robert Kiyosakis's CASHFLOW Quadrant. The book provides a guide for people who are ready to change their lives and change from one quadrant to another. Are you prepared to leave the life you've always known and pursue something better? The choice is yours.

The difference between an entrepreneur and an investor

How to pivot from your current career to entrepreneurship

How to take risks and make scary decisions to get what you want

Buck Joffrey

Buck Joffrey is a surgeon turned serial entrepreneur. He is also the author of the international bestselling book “Seven Secrets of Eternal Wealth” and the host of the Wealth Formula Podcast. Like Russ and Joey, Buck believes we must keep our money out of Wall Street. His mission is to teach professionals how to take advantage of their finances and invest outside traditional stocks, bonds, and mutual funds. Connect with Buck Joffrey: Website - https://www.wealthformula.com/

Round Table | 10 Reasons Not To Use a Savings Account for IBC

Many people worry about providing security for their families if something unfortunate happens. They think about what their spouses and children will do to pay the bills. So comes the question: Should you buy life insurance or focus on saving money in a bank? While both life insurance and savings can result in a lump sum benefit for your loved ones, there are key differences, especially if you also plan to implement IBC to secure the future of your family.

The top reasons not to use your savings account for IBC

Why a life insurance policy is a better place to build your wealth

Recognizing your biases and shifting your mindset to achieve your financial goals

3 Tax Savings Strategies with Mark Perlberg, CPA

Taxes eat up a chunk of most people's income. What if there are ways to keep more of what you’ve earned? In this episode, Russ, Joey, and CPA Mark Perlberg discuss the top mistakes entrepreneurs and business owners make that make them pay unnecessary taxes. If you are eager to know how to protect your income, consider implementing the ideas that could reduce your tax bill this year or the next.

The different types of income

Strategies to help you stop paying unnecessary taxes

When does it make sense to hire an accountant or bookkeeper?

Mark Perlberg

Mark Perlberg is a CPA whose mission is to provide clients with the most powerful tax strategies, business insight, and support to grow their businesses, build wealth, and achieve financial freedom. Connect with Mark Perlberg, CPA: Website - https://www.markperlbergcpa.com/

Round Table | Million Dollar Insights from 525,600 Minutes (Part 2)

2023 was a year of ups and downs and unexpected twists and turns. For many people, it was a year of learning as they went through many experiences that led to either heartbreak or triumph. How about you? What valuable lessons can you take away from the past year that you can apply as you move forward to the new year? What are you excited about for 2024?

The biggest moment and best deal in 2023

Mistakes done and lessons learned from the previous year

BHAG for 2024

When Failure is Not an Option with Dave Wolcott

When faced with a challenging situation, what would you do if failure was not an option? It takes courage to take major leaps in life, but not taking action can lead to failure. In this episode, Dave Wolcott shares how he pivoted when he woke up in an unexpected scenario, going from having one child to having four children overnight. Discover how he quickly decided to change his financial situation to support his growing family.

Holistic Wealth Strategy from Dave

How to break free from the Wall Street mindset

How to take positive action when faced with a difficult situation

Dave Wolcott

Dave Wolcott is a serial entrepreneur, former Marine Captain, and the author of Holistic Wealth Strategy: A Framework for Building Legacy Wealth and Unlimited Freedom to Live an Extraordinary Life. He is the host of “Wealth Strategy Secrets of The Ultra-Wealthy.” Dave is also an active and passive investor in over 3,200 doors, 400 self-storage units, 160 oil wells, and Merchant Cash Advance assets with a combined value of over $2.5 billion across the US. Connect with Dave Wolcott: Website - https://holisticwealthstrategy.com

Round Table | Million Dollar Insights from 525,600 Minutes (Part 1)

What wins and challenges have you faced over the past year? What big, hairy, audacious goals (BHAG) have you set for yourself in the coming year? As the new year starts, it's natural for people to reflect on their professional and personal achievements over the past 12 months. This moment of reflection can be extremely valuable as it allows us to assess how far we've come, identify areas of opportunity, and set more ambitious goals for the future.

Greatest insights and lessons learned from the past year

The most significant move that got you closer to financial freedom

BIG goals for 2024

Growing Passive Income 25% in 2024

What if you can grow your passive income to 25% in 2024? How will it change your life? Would you like to know how to finally achieve financial freedom in 2024? As Russ and Joey share their November 2023 Passive Income Report, they also discuss how they respond to the most common question people ask: “Where are you investing?” They share where they are putting their money and give you the criteria they use when choosing investment opportunities. So if you want to learn how to become a better investor in 2024, this episode is for you. Top three things you will learn: Investment criteria to look for Wins and losses for 2023 Things to be excited about in 2024 November 2023 Income At-A-Glance: Gross Income for November: $51,709.44 Total Expenses for November: $12,809.72 Total Net Profit for November: $38,899.72 Difference b/t October & November: ($84.04) % of net profit to overall gross revenue: 75%

Round Table | Why an eQRP is a Terrible Tool for Financial Freedom

An eQRP or Enhanced Qualified Retirement Plan is marketed as the fastest way to earn more than traditional 401(k)s or self-directed IRAs. It is said to be a system that offers complete flexibility, control, and protection of your investments. Unlike any other retirement account, you have the freedom to choose your investments with an eQRP. That sounds like a fantastic way to build wealth and achieve financial freedom. WRONG!

Access and limitations to how you can use the money

Flexibility in terms of premium and loan payments

Penalties and paperwork

Losing Money While You Sleep with Craig Ballantyne

Many people dream of having more money, and you probably have the same goal. But what are you doing about it? Warren Buffett once said, “If you don't find a way to make money while you sleep, you will work until you die.” You probably don't realize that you're losing money while you sleep. But all that is about to change if you pay attention to today's conversation between Russ, Joey, and their guest, Craig Ballantyne.

Nighttime rituals to prepare for the next day

Why you need to learn to say NO to many things

Essential tips to maximize your time

Craig Ballantyne

Craig Ballantyne used to be a farm boy from Ontario, Canada, trapped in the lifestyle of being a broke, anxious, binge-drinking personal trainer. But with the help of his mentors, Craig evolved into an Empire Builder with the discipline, clarity, and systems he needed to succeed. He went on to build five 7-figure businesses in five different industries, write three books (including one Wall Street Journal best-seller), and mentor thousands of entrepreneurs all over the world. Connect with Craig Ballantyne: Website - https://www.wealthwithoutwallstreet.com/craig Instagram - https://www.instagram.com/realcraigballantyne/

Round Table | Why Your Friends Are Broke and Want You To Be Too

Be careful who you hang out with because being in the wrong company can harm you if you're not careful. We all know that keeping up with the Joneses is a real phenomenon. So, how do you begin to detach yourself from it once you’ve figured out that it’s just not working for you and instead causing you to dig a deeper financial hole every month?

Why are some people broke, and why can't they escape that situation?

What are people doing wrong that keeps them broke?

What are some models that people can follow to correct their course?

Making Coin Through Laundromats with Jordan Berry

Did you know that laundromats are a billion-dollar business in the United States? Can you imagine how many quarters there are in a billion dollars? Yes, laundromats generate a lot of money. However, not all of it becomes the profit of a laundromat owner. Owning a laundromat also comes with steep expenses like utilities and overhead costs. So, how can you make sure your laundromat is profitable? It helps to understand the numbers behind the business, and that's what today's conversation is all about. Let's jump right into making money through laundromats!

The four numbers you need to understand to determine the value of a laundromat

Different business models in the laundromat industry

How to make your laundromat profitable

Jordan Berry

Jordan Berry owns multiple laundromats and is a business and commercial real estate agent. He launched Laundromat Resource, determined never to let a lack of information about the laundromat industry cause someone to suffer the stress he did early on. He created a website where he could provide thorough, transparent, and relevant information for other laundromat owners and prospective owners. LaundromatResource.com became a community dedicated to teaching and learning from one another, growing together, and succeeding together. Connect with Jordan Berry: Website - https://www.wealthwithoutwallstreet.com/laundromat

Round Table | How To Teach Kids About Money Without Ruining It

As parents, we want to ensure our children learn how to make wise financial decisions before they start living independently. But how do we teach them when they're young? How can they know the value of coins and dollars? It can be challenging for young children to understand the value of money, but as with most knowledge that kids need to acquire, introducing a fun activity can help.

Our goals and expectations as parents for our children

What the coaches tried that didn't work, so you don't have to make the same mistakes

Fun ways to teach kids about money

How to Clone an 8-Figure Business with Tom Dunkel

You've probably heard the saying, “The riches are in the niches," but what does that really mean? How does focusing on a specific niche increase your chances of success? Isn't it wiser to try and reach a broader market? Today's conversation between Russ, Joey, and Tom Dunkel will give you the perspective and insights into why discovering your unique ability and specific niche can lead you to financial success. Tom will even teach you how to clone an 8-figure business and let you in on a secret. So don't miss out on this opportunity!

The importance of discovering your unique ability

Why you must find your niche and go deep into it

How to get the resources you need to achieve your goals

Tom Dunkel

Tom Dunkel brings over 27 years of real estate, finance, and investing experience to his position as Chief Investment Officer at Belrose Storage Group. Working alongside his world-class team of professionals, Tom makes it his mission to find great investment opportunities for his clients while helping them meet their wealth-building goals. He lives in Wayne, Pennsylvania, and enjoys golfing, hiking, and playing guitar. As an avid investor and lifelong learner, Tom is actively involved in organizations, including Self Storage Mastermind, RaiseMasters Mastermind, and the Oren Klaff Braintrust. Connect with Tom Dunkel: Website - https://belrosestoragegroup.com/ Cellphone - 610-761-8940

Round Table | This Will Save You Taxes

“It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” This famous quote by Robert Kiyosaki appropriately describes today's conversation. How much of our hard-earned money do we get to keep when a massive chunk goes to the government? What can we do legally and ethically to minimize our tax liability to allow us to have more money to use for wealth-building activities? Today's conversation will give you the answers.

What can you do to reduce your tax liability?

How to unlearn old beliefs and learn new ones that will allow you to have more financial flexibility

The benefits of paying less taxes and getting more of your money to work for you

The Active Income vs Passive Income Dilemma

Passive income sounds amazing, but is it really better than active income? Both incomes are required at some point in your lifetime, but which one can help you reach financial freedom faster? What exactly is the difference between active and passive income, and why should you care? That's what Russ and Joey will discuss today. So don't miss the conversation. Top three things you will learn: How to deal with the interest rate dilemma How to use your experience to get involved in profitable investment opportunities Active Income vs. Passive Income October 2023 Income At-A-Glance: Gross Income for October: $64,910.23 Total Expenses for October: $25,926.47 Total Net Profit for October: $38,983.76 Difference b/t September & October: $2,692.37 % of net profit to overall gross revenue: 60%

Round Table | The Value of Experience in IBC

Who would you ask for advice when making important decisions, especially about money? What are the qualities you would look for in a money coach? If you want to know more about the Infinite Banking Concept(IBC) and search for information online, you will get different opinions. How do you know which one to believe? We are inclined to trust a person's expertise when they confidently explain their thoughts. So, how do you determine whether the person you’re listening to is an expert or just a confident salesperson? Let's find out in today's conversation about the value of experience in IBC.

Working with an IBC expert vs. an amateur

What problem does IBC solve?

Best practices in setting up IBC

Where to Go If the Dollar Crashes with Dana Samuelson

Where should you put your money to hedge against inflation? People believe that investing in gold has many benefits and can protect your investment in the long run. Everyone depends on gold when other assets do not offer stability. For this reason, you can see a steep price hike in gold whenever the global equity markets are turbulent. Another advantage of choosing gold is that the rates are stable worldwide, and you will get your money's worth anywhere you trade gold. But do you need complex financial knowledge to invest in this asset? Let's find out in today's episode with Russ, Joey, and their guest, Dana Samuelson.

Why you should consider investing in gold

The best ways to store gold

Where to go to get more knowledge about owning and trading gold

Dana Samuelson

Since the 1980s, Dana Samuelson has seen over a billion dollars worth of gold transactions and founded the world-renowned American Gold Exchange Incorporated, a leading national precious metals and rare coin company specializing in dealer-to-dealer trading and direct sales to the public. Connect with Dana Samuelson: Website - https://www.amergold.com/

Round Table | Do This Before You Die

We all have goals and things we would love to achieve before we die. But have you thought about preparing your spouse or family for the inevitable? Have you secured their future? As we all know, death doesn't discriminate by age or any other factor. It can come when we least expect it. You may have prepared your last will, but it's not the only thing you must do before you die. While your estate may not be as large as others, it's just as important to have a plan in place in the event of your death. With some preparation, you can put your mind at ease now and save your loved ones a lot of trouble later.

What do you know that no one else knows?

Solutions to the problems you have identified

Tools and strategies to make things simpler

Round Table | 1 Step Forward, 2 Steps Back

There’s an old saying that you can learn as much from a bad experience as you can from a good one. And that is so true when it comes to the realizations that come with making poor investment decisions. Every investor has had a series of experiences that eventually form their investing principles that may lead to long-term financial success or lost opportunities. So, how do you avoid investment failures that can prevent you from achieving your financial goals? That's what today's conversation is all about.

Lessons and insights from investment failures

What to do next as you pursue your path to financial success

Learning from other people

Decisions That Saved My Life with Ben Buzek

Quitting a job you have depended on for most of your career can be sad and exciting at the same time. How do you prepare for this crucial decision? To get through this challenging situation, there are preparations you need to make. And today's conversation with Ben Buzek will give you insights into making the decisions that will save your life.

Dependence vs. Independence

How to find the right community you can depend on

How to build passive income and get ready for retirement

Ben Buzek

Ben Buzek is a Veteran Special Operations Leader and self-taught Real Estate investor partnered in five multifamily properties across three states. He is the co-author of the Amazon bestseller The Transformational Journey. Connect with Ben Buzek: Get a Free Chapter of The Transformational Journey - https://www.wealthwithoutwallstreet.com/ben LinkedIn - https://www.linkedin.com/in/buzekb/