Personal Financial Strategy the podcast

A podcast focused on you and your money. Hello, I‘m Tony King and each week I will be your guide on a journey to help you discover your best personal financial strategy.

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Episodes

4 days ago

‘Getting your mind right is the most important part of owning and managing wealth.’ Rebecca Jensen In today’s episode, we welcome Rebecca Jensen to the podcast. Rebecca is a CPA at MaxQTC Incorporated, a business consulting firm focused on family office services. Rebecca has over 25 years of experience as a CPA, and specializes in helping families retain assets and grow wealth across generations. Essentially, she helps families manage their family wealth like a business. Rebecca talks to me about her experiences and how she helps families retain assets and manage their wealth. Listen in! I got into accounting and worked with Deloitte in Seattle until I had my children where I decided to open up my own accounting firm. We worked with small business owners until I sold off the firm and ended up working for a company as a CFO. I later ended up going independent, and I started working with clients, both individuals and businesses, to help them transfer wealth and do transition leadership for companies. We also run family office services where we combine our team of professionals and prepare taxes and help people with cash flow plans. One of the things that is really important is having clear communication between the family members on what's happening with assets. One of the first things we do is we run an analysis with our clients and make sure that they've got enough money to retire comfortably. For the generation of people who are good savers and have a lot of assets, the plan will be to help that next generation. It is important to be careful in transferring large assets, and make sure that whoever is in charge of them, has the experience to not have it ruin their lives. There's a lot of wisdom that needs to be passed on before you transfer the actual management of assets to allow the family to benefit from them for many generations. I realized that getting your mind right is the most important part of owning and managing wealth. If you try to just do your planning in the middle of tax season, you're not gonna get the best advice because they just don't have the time and mental energy. For people who get to inherit wealth without experience, find someone who is experienced to help in managing the wealth. To connect with Rebecca, go to www.familythinkingstrategies.com As always, if you are interested in complete “peace of mind” about your personal finances, visit us at: www.personalfinancialstrategy.com

Friday Jun 24, 2022

"The real way to determine whether to place investment dollars in a Roth IRA or traditional 401K is to consider your current tax bracket vs. what you think your future (at the time you will withdraw money) tax bracket will be." - Ryan Morrissey In today’s episode, we welcome Ryan Morrissey to the podcast. Ryan is the founder of Morrissey Wealth Management, where he partners with individuals to help them plan their retirement by reducing taxes, investing smarter, and optimizing their income.  Today, Ryan talks about the reason why he got into the investment business, as well as the options available for people who are looking to invest for retirement.  Listen in! I'm a wealth advisor, focused on helping people within five years of retirement to figure out how they can retire and manage their wealth. I studied economics at the University of Delaware and later got a job with Morgan Stanley, and that's what launched me into doing what I do now. My why is to try to help people make the best of their situation and not be in a bad situation due to either not knowing what they're doing or just getting bad advice. When referring to Roth money, you pay tax on that money as you earn it.  Upon qualification, you can put your Roth Money into the Roth account where it grows tax-deferred, and as long as the tax rates stay the way they are, the money comes out tax free.  The real way to determine on whether to go for a Roth account or a traditional 401K is by looking at what your current tax bracket is, and what you think your future tax brackets are.  Most people that make it to retirement age will need some type of long-term care help, and therefore health insurance is important to cater for the cost. Connect with Ryan www.retirewithryan.com www.morrisseywealthmanagement.com  https://www.facebook.com/morrisseywealthmanagement http://www.linkedin.com/in/ryan-morrissey-cfp-46714810 https://twitter.com/ryanrmorrissey As always, if you are interested in complete “peace of mind” about your personal finances, visit us at: www.personalfinancialstrategy.com

Friday Jun 17, 2022

“If you're surrounded by people and systems that are draining your battery every single day, I strongly recommend that you silence those and move towards direction of charge, guidance, and positivity.” Judson Burdon In today’s episode, we welcome Judson Burdon into the podcast. Judson is the president of Asphalt Kingdom. It's the top website for asphalt maintenance resources, equipment, and supplies for the United States and Canada. He is passionate about helping people build their own businesses and achieve the life of their dreams. Judson talks about finding his purpose and how his company is helping people build their business and live a life of purpose.  Listen in! It took some drive and field experience to realize what I really wanted to chase and hunt for in my life. When I was 18 years old and fresh out of high school, I became an integration aide at Sunnydale Elementary School in the West Island of Montreal with autistic children.  I love adversity and challenge because it gives you the opportunity to overcome it, and become stronger from it.  I worked with an autistic child and helped him to excel tremendously, but later passed on which left an emotional impact on me.  I knew I helped him and his family, and that was a special moment of feeling a little bit of purpose, and it helped me have some purpose about what it is that I wanted to do. I got a sales job making $500- $800 a day, and after three months I opened my own company and to become the biggest pavement asset management company. I sold the company off and moved to Anguilla in the Caribbean, where I later started Asphalt Kingdom which has grown over the years to an eight-figure company.  When I look back, at those two years working on the company before it picked, the thing that really pulled me through was surrounding myself by a circle of people that really believe and having mentorship through that process.  If you're surrounded by people and systems that are draining your battery every single day, I strongly recommend that you silence those and move towards the direction of charge, guidance, and positivity. The most exciting part of my journey happened about four years when we lost our son for 17 minutes and then came back to life.  In my moment of grief, I got the message that I needed to help as many people as I possibly could in my lifetime and that's what I do today.  What we truly do at Asphalt Kingdom is we help people build their own business, in the asphalt maintenance industry, to allow them to work towards a future that allows them to be freer. Let's not be drawn back to average but be powerful and remember that we are here to impact people's lives positively.  Connect with Judson: https://www.linkedin.com/in/judson-burdon-70402262/ https://www.facebook.com/profile.php?id=517588482   As always, if you are interested in complete “peace of mind” about your personal finances, visit us at: www.personalfinancialstrategy.com

Monday Jun 13, 2022

“We need to begin to get people more accustomed to having the patience to wait until they have the money to spend.” Natasha Davis In today’s episode, I welcome Natasha Davis in to the podcast. Natasha is the founder and CEO of a company called Impact Branding. She's also an author of several books including ‘Get Grounded, Stay Grounded,’ ‘Unleash Your Millionaire Mindset’ and ‘Build Your Brand,’ among others.  In today’s episode, Natasha talks about her journey to financial recovery, and why it is important to not only understand how money works, but also to respect it as well. Listen in! I pursued my first degree as a registered nurse and worked as a nurse and the I crossed over and stepped into the world of entrepreneurship. After some unfortunate events happened in my life and caused me financial turmoil, I had to make some real serious adult decisions, on not only understanding money, but respecting it as well. I also had to figure out how I was going to make the business work for me. Understanding money means understanding that it is a current and it is always flowing, and whether it's flowing to you or away from you is really your decision. I had to understand the basic principles and the entire purpose of money which includes bringing wisdom, knowledge, relationships and property. Respecting money entails respecting every single dollar earned and spent, and therefore I learned to develop a healthier relationship with money. I've had to learn to respect the whole essence of saving and I think of it as strategically allocating for ventures and expenses. We need to begin to get people more accustomed to having the patience to wait until they have the money to spend. Money is a current, and you can become a money magnet if you're not always chasing after money. My first book, ‘Get Grounded, Stay Grounded,’ was born at a time when I needed to work on me and know myself. My second book was ‘Be Unleashed,’ which was written at a point where I was recovering and at the edge of restoration from everything in my life that had broken me. My third book came right in the midst of COVID and it is titled ‘25 Valuable Golden Nuggets.’ It is about everything that I've learned over the 18 plus years in business. I do strategic planning and process improvement where we work with service based companies and health care organizations to really strengthen their brand so they make more money. Connect with Natasha at www.impactbrandingconsulting.org   As always, if you are interested in complete “peace of mind” about your personal finances, visit us at: www.personalfinancialstrategy.com

Friday Jun 03, 2022

“You want to make sure that if something were to happen to you, your loved ones will be protected and taken care of.” Larissa Steffan In today’s episode, I welcome Larissa Steffan. Larissa helps young professionals to eliminate debt, build wealth and retire early. Larissa talks about the investment options that are available and ideal for her clients as they work towards financial security. Listen in! I started out my adult journey in the San Francisco Bay Area, which is one of the most expensive places to live in. It became too much to keep up with the lifestyle at Bay Area, and after putting things into perspective on what my circumstances actually were, I realized that I needed to move. I moved out to Idaho, and I started to realize that there were a lot of people living in the same circumstances that I was living in. I decided that this would be a great place for me to break into finance and be able to help people out. My focus is on investment strategy and retirement strategy, because I find that it's something that people in my generation aren't being really preached to about. For people who come to me, I like to try and look at some alternative retirement strategies where they don't have to wait until they're in their 60s to access it. There are certain life circumstances that do make the most sense for you to have a life insurance policy because you want to make sure that if something were to happen to you, your loved ones will be protected and taken care of. I honestly offer retirement coaching, where we just go over your employee benefits and we start talking about how we can leverage those benefits. David McKnight’s book ‘The Power of Zero,’ is a great resource if you want to learn more about the different types of savings account and how they can end up affecting your retirement in the end. Connect with Larissa at: https://sites.google.com/ssgincfinancial.com/larissastefcom/home As always, if you are interested in complete “peace of mind” about your personal finances, visit us at: www.personalfinancialstrategy.com

Friday May 20, 2022

“It is that drive for personal excellence, that actually helps you create a life of fulfillment, which ultimately ends up being longer, stronger, and more fulfilling.” Joe Templin In today’s episode, I welcome Joe Templin in to the podcast. Joe is an author of a book called ‘Everyday Excellence: A daily guide to growing.’  Reformed physicist, financial planner, startup founder and autodidactic polymath best described as a Swiss Army Knife, Joe Templin has invested the past two and a half plus decades to helping others reach their financial potential as a planner, trainer, mentor and creator. In today’s episode, Joe talks about the freedom that discipline brings, especially in personal finance. Listen in! I started college at 13 and studied communication and went to Rensselaer Polytechnic and became a physicist and worked for government. I am financial planner, a martial artist, and also studied sales psychology and performance psychology which led me into doing more training and development work. I have drifted even further into behavioral economics, and authored multiple books which are very much reflective of the multiple components to knowledge that you need to assemble to properly do financial planning It is that drive for personal excellence, that actually helps you create a life of fulfillment, which ultimately ends up being longer, stronger, and more fulfilling. When we talk about financial planning, it's not cookie cutter, and this is because clients are all very different individuals. In personal finance, discipline equals freedom. We live in a disposable society in a lot of ways and things have planned obsolescence. Having the capability of taking the time to allow things to develop makes people more successful. If you choose what feels good in the moment, it creates a downward trajectory overall, and ultimately makes things harder. If you choose what is more difficult in the moment, it leads to a better outcome in the long run. It comes down to the easy choice or the right choice and just consistently trying to make the more difficult decision in order to increase your excellence factor across all components of your life. EASY NOW, HARD LATER vs. HARD NOW, EASY LATER choose hard now,..always! Connect with Joe Templin at  https://everyday-excellence.com/ As always, if you are interested in complete “peace of mind” about your personal finances, visit us at: www.personalfinancialstrategy.com

Friday May 13, 2022

“If you look at your credit report as a lender would, you will understand why you need to have good credit score.” Nathalie Noisette In today’s episode, we welcome Nathalie Noisette. Natalie is a credit expert and financial strategist, dedicated to providing information for individuals looking to improve their score. She is also the author of a book titled, ‘Converted: Uncover The Hidden Strategies You Need To Easily Achieve Massive Credit Score Success.’ Today Nathalie talks about the relationship between trust and credit, as well as the importance of building a positive credit score. Listen in! I came across my credit score for the first time when I was 18 years and had gone to buy a car but was denied the purchase because the credit score was just not there. I went home and went into a really deep hole into the internet of what credit was, because I had not made contact with this credit thing before that experience. I was able to fix my credit, and then a lot of my friends and people started asking me to help them fix theirs as well, which led to me turning it into a business. It is not really just about credit, but also about understanding your needs and lifestyle, and creating a plan around that. I like watching how people transform their lives and seeing that gap close. Watching my daughter grow up and not have to deal with a lot of the things that I did also became a passion for me working with women especially mothers. I got to a point where I felt like this was something people could do by themselves anyway, and decided to package everything I had done in the last 10 plus years in a book. The number one misunderstanding that people carry about credit is thinking that credit really has to do with money at all. If you can look at your credit report as a lender would, you will understand why you need to have good credit. Every single institution that you have a relationship with sees a different version of your score. It makes sense that your credit score may vary depending on whether the potential lender is using the FICO or Vantage Score model.  The scores from Experian, TransUnion, and Equifax might vary slightly not because of the model that's being used, the data points that are being presented on the actual report are different. Credit repair is not like a magic pill that you take and everything goes away, but a way to rebuild trust with institutions. The best way to keep in touch with Natalie is through  www.convertedcredit.com https://www.facebook.com/iamnatnoisette https://www.instagram.com/iamnatnoise/ As always, if you are interested in complete “peace of mind” about your personal finances, visit us at: www.personalfinancialstrategy.com

Friday Apr 08, 2022

“Triple bottom line is investing in a way that you do get profit, but you also look after people and you look after the planet as well.” Dionne Payne In today’s episode, we welcome Dionne Payn to the podcast. Dionne is an author, as well as a speaker. She speaks on the topics of ethical property investing, affordable housing, and ending homelessness. She is the CEO and founder of high impact property investments, where they specialize in connecting investors with double digit returns and projects that provide affordable homes, build communities and provide inclusive homes for people with disabilities. Dionne talks to me about the events that led to get into real estate business, and also highlights the triple bottom concept in ethical property investing. Listen in! My early life was very much about being part of a church community, and it was lot about service and helping other people which was where I've got my service ethic from. At the university I studied pharmaceutical chemistry, and I ended up at the pharmaceutical industry specifically at the natural products chemistry where I ended up doing a PhD in the same field. We wanted to buy a property and in the area that we lived at the time, it just wasn't affordable on one income. We decided to learn about property with the hope that we'll find a creative way to get involved in property and then be able to purchase our home. After our first course, we found a joint venture partner whom we partnered with to deliver a project that was a renovation and a subdivision of a property. We delivered on the project and did a couple more projects which were quite small. We got involved in a project that even though we did finalize it, I got the motivation to keep going because it was important to the community. It was a combination of there being a need for it and a way that we could make money, but also a way to service the community as well as sustainability. We haven't always been thinking about sustainability and community, our primary motivation for a long time has been about profit. As we progress, what we're seeing is just a bit of a collective shift and a bit of an evolution in the way that we live and think. Millennials do seem to be leading the charge by wanting to work for companies that are ethical and investing their money in things that they believe that are going to make the world better. As consumers/ investors, we have a lot of power, but sometimes we give away our power because we don't think that we have any. The central message in the book, Ethical Property Investing, is that if we exercise that power, we can actually create the world that we want to see. Triple bottom line is investing in a way that you do get profit, but you also look after people and you look after the planet as well. Our money has to work for us, but investors do want to be investing in alignment with their values. We partner investors with developers that have a really great track record and are a lot more risk aware and know how to mitigate them and find creative solutions for them. Property development in and of itself is a huge beast, and you need to have people that are committed on all aspects to deliver the outcomes that that you've signed up to deliver. Property really has the power to transform lives. You can connect with Dionne on her social media handles: Facebook - https://web.facebook.com/highimpactproperty.investments    Twitter - https://twitter.com/hipinvestments?lang=bg    LinkedIn - https://www.linkedin.com/in/dionnepayn/      The best way to get in touch with Dionne; Website: https://hipi.global/   To learn more about Tony King, visit; https://www.instagram.com/personalfinancialstrategy/ https://www.linkedin.com/in/tony-king-6563585 www.personalfinancialstrategy.com  

Friday Apr 01, 2022

“Anytime you get a letter from the IRS, answer it, and if you don't understand what they're saying, ask for clarification.” Charles Read In today’s episode, we welcome Charles Read to the podcast. He is the author of three books including Starting a New Business, Small Business Short Course, and the Little Black Book of The Beauty Biz. Charles has also written numerous articles and blogs throughout the years. He is a licensed CPA, and he has held Series 7 in Series 66 securities licenses. Charles has 50 years of financial leadership and experience.  Today Charles talks to me about how he was able to successfully start and run his business, and also provides tips on how to deal with payroll and taxes. Listen in! After the military, I found out my military experience wasn't valued by business, so I went and got my credentials then went to work in corporate world for about 15 years. Over 30 years ago, my wife Ruth and I, started our business and I'm still running it today. I was working as COO for Financial Express, which was a franchise organization which we bought in 1991. We later just changed the name and then got rid of the mobile aspect of it and kept going. 10 years ago, I sold the accounting side of the business to my partner who wanted more autonomy, and I kept the payroll. We're now in exclusively a payroll provider providing services all across the US, to small and medium sized businesses. Our biggest unique selling proposition is compliance, and we help our clients stay compliant. Our clients outsource their payroll issues to our company because we are the experts with the most experience and knowledge. I tell clients not to talk to the IRS themselves, because it's personal and will likely upset them and make them do things they shouldn't. The first call from our clients doesn’t cost anything, and that's the nice thing about us as compared to our competitors. My book titled The Little Black Book of the Beauty Biz is about all the back-office things that relate to the accounting and payroll. 70% of all US businesses misclassify employees one way or the other There are some huge advantages to being an independent contractor and it is important for people to learn all these things about deductibility. You can legally deduct anything that is business related whether you have a receipt or not, you just may not be able to prove on an audit but that doesn't mean it's illegal. The IRS cannot penalize you for a simple mistake. Anytime you get a letter from the IRS, answer it, and if you don't understand what they're saying, ask for clarification. Send everything certified so that you can be able to prove you sent it when necessary. One of the tips as we are approaching April is to make sure that if you've got stimulus payments, they get reported because they are not free, they are a part of your refund up front. You can connect with Charles on his Social Media Handles: Facebook - https://www.facebook.com/GetPayroll/  Twitter - https://twitter.com/getpayroll  LinkedIn - https://www.linkedin.com/company/getpayroll  Youtube - https://www.youtube.com/channel/UCxs-_RwC9NgfUcqbwvEaMIQ   The best way to get in touch with Charles; Website: www.payroll.com   Email: CJR@getpayroll.com   Phone number: 972-353-0000.   To learn more about Tony King, visit; https://www.instagram.com/personalfinancialstrategy/ https://www.linkedin.com/in/tony-king-6563585 www.personalfinancialstrategy.com  

Friday Mar 18, 2022

“The number one thing that I recommend to anybody who wants to own a business is to just start and then follow the path.” Howard Dekkers Today, we welcome Howard Dekkers to the Podcast. Howard is a financial and life coach, and he teaches people how to become financially free with a normal job. Coming from an average lower middle-class family in Detroit, Howard worked hard to become a self-made millionaire, and now, his passion is to help others achieve their part of the American dream. After a successful run in the business world, Howard arrived at what we, at Personal Financial Strategy call “Choice Age”, which is that age at which an individual's passive income stream can support their lifestyle completely, thus affording them lots of choices. Today Howard talks to me about how he's investing his life post choice age. Listen in! I was born in Detroit, Michigan and when I was three, my dad moved us to a suburb of Detroit. Two streets down from me is where all of the wealthy people lived and one thing I noticed of every one of these homes, is that either or both of the parents owned the business. From a young age, I thought that the only way you could become a millionaire was by owning a business. After high school, I had an accident where I cut off my finger and it was totally a wake-up call for me to go to college and get my bachelor's degree in business. I opened my first business at 28 and I kept opening up other businesses. I ended up making millions of dollars from selling my last company which took me 20 years to build. One of the things my father told me when I was a teenager was to save and invest 10% of every one of my paychecks. I was making a lot of money but was spending it all, and it wasn’t until when I was in my late 30s that I started saving and investing 10% and up to 20% of what I was earning. My savings grew to over $2 million and then I sold my company for millions of dollars, and it was at that point that I didn't have to work anymore. I decided that I was going to put a PowerPoint presentation to teach my children and their friends how to become multimillionaires. As the numbers grew, I decided to put an online course together and now I have a seven-module seven- hour course, where I teach people everything they need to know to become multimillionaires sometime in the future. My first business was advertising which led me to another business, international cash card, which was a telephone cover index that I sold 10 years later, to the biggest newspaper in town. The number one thing that I recommend to anybody who wants to own a business is to just start, and then follow the path. The other end of it is that you have to start your monthly financial freedom plan as soon as possible. You definitely do not have to go to college to run a business. I teach a concept called Money mindfulness where I show people how they're spending their money right now versus how much is coming in. I show these people how to be money mindful because they were never taught. Most people think that they have to save a million dollars, but the reality is that they don’t. They just need to understand how to take advantage of compound interest and doubling. You can connect with Howard on his social media handles https://www.linkedin.com/in/howard-dekkers-baa3727 https://howarddekkers.com/   You can learn more about Tony King on his social media handles: https://www.instagram.com/personalfinancialstrategy/ https://www.linkedin.com/in/tony-king-6563585 www.personalfinancialstrategy.com

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