The Good Financial Cents Show w/ Jeff Rose, CFP®

What is going on with Robinhood?

They are in the news for all the wrong reasons.

I am a Robinhood client, I have an investment account, and I really like how easy it is to set up an account and get started investing.

Now it looks like they are making some pretty big changes.  Tune in to this episode and I will talk about some of these changes.

Direct download: 29-_Robinhood_Scandal.mp3
Category:general -- posted at: 11:40am CST

I don’t know about you, but my mom is a ‘baby boomer’ and she comes from a generation where technology can be a bit challenging. You want to make sure you listen to this Podcast, you may want to send it to your mom too!

That generation is at a high risk for online scams.  It is so easy for people to get your information online through social media, etc.

I can only imagine how these finical scams will grow during this pandemic with unemployment scams, stimulus scams, credit hacks, etc.

Be careful out there, and let your loved ones know the signs to be wary of - I will share some of the things you should  watch for in this podcast. 

Direct download: Episode_28_-_Beware_Latest_Covid-19_Scam_May_Target_You_.mp3
Category:general -- posted at: 12:00pm CST

A lot of the people that contact me through this channel or through the blog, have one key thing they are trying to achieve.

Success.

Whether they are trying to become an entrepreneur, trying to invest, trying to become a millionaire, etc., they all want to be successful in what they are building.

There are some key habits that you have to follow.

If you don’t, you are going to find yourself stuck.

Tune in and I will share the four key habits (referability habits) anyone that wants to be successful needs to execute on a daily basis. 😎

Direct download: 27_Referability_Habits_.mp3
Category:general -- posted at: 11:43am CST

I don’t get made very often, but there are some people that I would love to punch in the face.

This ‘advisor -life insurance agent’ definitely makes my list.

I earned about this from a message I received from one of my viewers and I’ve had a little time to simmer.

Tune in and I’ll tell you how this advisor ripped off his client  for $612,025. 

Direct download: Episode_26_-_Life_Insurance_Scam.mp3
Category:general -- posted at: 10:19am CST

What if you could go to your mailbox and find $1,000 every single month?

This is a dream that could come true for you.

Passive income really is a thing.  Tune in and I’ll share 10 different ways you can make $1,000 per month.

Which one are you going to pick to start making passive income? 

If you’ve already started - what is the next thing that you are going to try to add more income streams?

Direct download: Episode_25_.mp3
Category:general -- posted at: 12:00pm CST

I was recently asked to give my thoughts on four simple steps to increase your credit score. Two of these are pretty stupid.

You don’t want to obsess over your credit score, but you do need to be aware of your score.

Tune in while I break down these four simple steps that were shared with me.

I will am going to let you know which of these tips could be good for you and which ones to ignore.

Direct download: Episode_24_-_Improve_Your_Credit_Score_Before_2021_.mp3
Category:general -- posted at: 12:10pm CST

Can you really add multiple income streams during a pandemic?

Yes, you can and I am going to tell you how.

If you Google ‘side hustle’ you will get more than 80 million results.

Before the pandemic ‘side hustle’ was trendy, now it is a necessity for some.

2020 is coming to an end!!!

Just because it is almost over, that doesn’t mean you don’t have time to add some additional streams of income.

Today I am going to share 4 action steps you can implement today to start earning additional income.

Direct download: Episode_23_-_How_to_Make_Multiple_Income_Streams_During_Pandemic_.mp3
Category:general -- posted at: 9:48am CST

It is time to Grow Your Dough!

I have to apologize for bringing you in at such a late stage, so let me explain what this is all about.

The Grow Your Dough Challenge started on the blog a couple of years ago.  I had a contest between other bloggers where we each took $1,000 and invested any way we wanted.  At the end of the year we took a look to see who did the best job with their investments.

Last year I took this challenge to YouTube. This was a great way to show people how easy it is to get started investing.

With all that has gone on in 2020, I got a little behind on my updates. 

Let’s dive into the challenge and my results.

Direct download: Episode_22_-_Grow_Your_Dough_Update_-_Some_BIG_Moves.mp3
Category:general -- posted at: 11:41am CST

There have been many surprises with Covid-19, I didn’t expect this one!

I was curious how Covid-19 may be affecting life insurance.

Is this one of those things that people haven’t been paying for, due to other expenses? 

Is this something that people are more interested in purchasing during this time?

I decided to do a little research.  Tune in to find out what I learned.

Direct download: Episode_21_-_How_Covid-19_Affects_Your_Life_Insurance_Policy.mp3
Category:general -- posted at: 12:49pm CST

Who doesn’t want to make money while sitting around in their PJs?

We are still dealing with this pandemic, it is just not going away. I have talked to so many people who are working remotely during this time.

Beginning in February about 3.4% or workers were home based.  By early April this number increased to 57%.

Today I want to talk about some of the best online jobs out there right now.

Direct download: Episode_20_-_Best_Online_Jobs_to_Make_Real_Money_.mp3
Category:general -- posted at: 12:50pm CST

You won’t believe how much people used to pay to buy and sell stock.

Now you have so many different platforms that will allow you to buy/trade for free.

There are also platforms that will give you free stock when you open an account.

I want to share some of these options with you today.

 

Direct download: Episode_19_-_How_to_Buy_Stocks_Online_For_Free_.mp3
Category:general -- posted at: 9:49am CST

Why I got into an argument on Twitter and why I STILL think I’m right….

At the time of this recording (Nov. 4th)…we still didn’t know who our President was going to be.

I tweeted …’Fact - it doesn’t matter which man wins President today.  Only YOU can make yourself work harder and build wealth.’

One of my followers took great offense to this, listen now for all the details.

If you say the wrong thing, you can be taken down in an instant.  Years of credibility can be washed away.

Direct download: Ep_18_-_I_Got_Into_a_Fight_on_Twitter_About_Politics_.mp3
Category:general -- posted at: 10:10am CST

Today we are talking about something we haven’t talked about in a while….Passive Income.

We all know that making passive income is not that easy. It takes time.

I came across an article in Forbes that says you can make $940/month with 3 simple steps.

I’m going to talk about these three steps and share why I think it may not be that simple.

1. Open a brokerage account

2. Buying a closed end fund

3. Sit back and wait

Direct download: Episode_17_-_How_to_Make_940_Per_Month_in_Passive_Income_.mp3
Category:general -- posted at: 9:04am CST

Your credit score just hit the highest it has ever been!

Should you be excited?  Maybe not.

Has the stimulus package affected your score?

Have your pandemic spending habits affected your score?

Tune in and I will give you some insight on what we have seen happening with credit scores during the pandemic.

Direct download: Episode_16_-_What_Happened_to_Your_Credit_Score_.mp3
Category:general -- posted at: 9:35am CST

The S&P has averaged between 10%-11% return but I actually have 10 investments that have made me more.

Considerably more.

Tune in and I will tell you all about these investments.

If you want to accelerate your wealth, it requires you to do something a little different.

 

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Direct download: Ep_15_-_10_Investments_That_Make_Me_More_Than_Index_Funds.mp3
Category:general -- posted at: 9:03am CST

If you have absolutely no money to invest…this is the podcast for you.

A common question I get on the blog and on the YouTube channel is:

⁉️ How do you start investing when you don’t have money? ⁉️

Today I am going to share 6 investments that you can start  right now (the same six I started doing myself).

Tune in and see how you can start investing today!

Direct download: Ep_14_-_Investing_When_Broke.mp3
Category:general -- posted at: 11:13am CST

If you truly want to build wealth, you may want to tune out what your financial advisor has to say.

If you want to build wealth, you can do that by investing into a Roth IRA. But, if you want to truly grow your wealth, then you need to explore some of these other options.

Tune in for 9 ways you can start building your wealth today.

Direct download: Episode_13_-_Build_Wealth_Really_Fast_.mp3
Category:general -- posted at: 9:37am CST

Say it ain’t so! 

This is a platform where I was averaging North of 12% return.  Now it doesn’t even exist.

Someone recently asked over on the YouTube channel: ‘What Happened to Lending Club?’

Lending Club recently announced that they are no longer doing peer-to-peer lending.

Listen in for all the details on their recent changes.

Direct download: Ep_12_-_What_Happened_to_Lending_Club__.mp3
Category:general -- posted at: 11:00am CST

.01% - That is how much my bank (a National bank) is paying on their savings accounts…on any amount of money.

I can remember when most savings accounts were paying at least 5.0% interest (about 10 years ago).

Seems like you just can’t make money on cash these days….or can you?

What if I told you that you could make up to 8.6%?

Tune in and I will share the details with you.

Direct download: Episode_11_-_BlockFi_Savings_Accounts.mp3
Category:general -- posted at: 10:48am CST

I know most of you are counting the days until 2020 is OVER.

I hope that during the quarantine, lay-offs, etc. you were able to find a way to capitalize on that extra time you may have had.

I’m talking about a side hustle.  Something that you could do to make some extra income.

In today’s podcast I want to share 12 different side hustle’s that you can take a look at and implement today.

Direct download: EDITED_Ep_10_-_Top_12_Side_Hustles_of_2020.mp3
Category:general -- posted at: 11:31am CST

Imagine being stuck with over $44,000 of debt.

Then you stumble on a side hustle that allows you to earn an extra $3k a month to pay off that debt in a short amount of time.

Today we are going to talk to someone who did just that.

It has been a while since I have interviewed anyone for a podcast.

Today I will be talking with Robert Farrington.

Robert is with the College Investor - he is known as the Millennial Money Expert.

Direct download: EDITED_Ep_9_-_Robert_Farrington_Interview_.mp3
Category:general -- posted at: 10:41am CST

Do you have any idea how much it costs to get an MBA from Harvard?

There is a long list of fees: tuition, student health fee, student health insurance, course and program material, room and utilizes, living expenses, etc.  Add all of these costs together and we are looking at $111,000 per year.  It is going to take you TWO years. 

I have to ask…..is there something better?  I think there is.

So what do I think is better than a Harvard MBA?  Starting a blog. Yes, a blog.

When you get started you are not going to be making tons of money.  But it is something you can do in your spare time. Even better, it doesn’t take a lot of money to get started.

Here are the key principles I learned by starting my blog:

1.  How to start a business
2. How to build a thriving network
3. How to be a better communicator
4. How to market yourself
5. Learned high income skills
6. How to scale a business

Yes! Blogging is definitely my preference.  But as I mentioned, you don’t make a lot of money in the beginning.   If you stick with it and publish quality content you will get there.

Direct download: Ep_8-MBA_vs_blogging_.mp3
Category:general -- posted at: 11:24am CST

How to turn something really good into something really awesome.

I’ve enjoyed talking about FIRE so I thought I would mention how some that follow the FIRE movement have ventured into the entrepreneurial world.

This includes a group that has found financial independence and have left the traditional workspace.  They have not necessarily retired because they continue to find different ways to earn additional income.

Direct download: Ep_7_FIRE_Redefined.mp3
Category:general -- posted at: 4:52pm CST

What does financial independence mean to me?

Here are some of my thoughts/views around financial freedom or financial independence:

Financial independence is not about:

Making the most amount of money you can make
The balance in your bank account
The kind of car you drive
How big your house is
How much you spend
Where you spend vacation
How much you make from your job

Financial independence is all about choices. It is about being able to choose where you work and what you work on. Choosing where you live and who you live with. Choosing where and how often you travel.

For me, it is all about doing what I want, when I want, and with who I want.

We travel a lot.  We don’t have to stay in 5 star hotels, but we do want a comfortable place to stay where everyone has some space.

Direct download: Ep_6_Financial_Independence_Means_to_Me_.mp3
Category:general -- posted at: 3:40pm CST

Maybe I don’t like the FIRE Movement, but I don’t hate everything about it.

Today I’m sharing the principles that I respect about the FIRE movement:

  1. It forces people to live with intentionality.
  2. It puts emphasis on focusing on the things you can control.
  3. It forces discomfort.
  4. It forces you to know your numbers.
  5. The idea and the concept of contentment.

Which one of these principles do you like? 

Is there something you like about the FIRE movement that I didn’t share? Let me know.

Direct download: GFC_Ep_5_Fire_Movement_Love_Part_2__Copy.mp3
Category:general -- posted at: 3:04pm CST

This may come as a surprise, as it is a little known fact…

I have always hated the FIRE movement.

For those of you that don’t know what the FIRE movement is….it is  ‘Financially Independent Retire Early.’

This is a movement that has been around for a while, but has picked up a lot of steam over the last 8-10 years.

The first time I heard of this movement was back in 2012.

So why do I have such a bad taste in my mouth for something (financial independence) that I’ve been teaching and sharing in my videos?

In this episode I am going to share 7 key reasons why I hate the FIRE movement.

Direct download: Why_I_Hated_the_FIRE_Movement.mp3
Category:general -- posted at: 10:22am CST

My idea of building wealth at an accelerated rate didn’t start until I read Rich Dad Poor Dad. 📚

This book gave me the motivation and the inspiration to make it happen, but I had to figure out on my own how to make it work.

I created the M.O.R.E. Method as a framework to help you get started.

The first M = Mentor, the second M = Mastermind Group

The first O = Open (an investment account), The second O = Open (a personal equity fund)

The R = Research

The E = Execute and Enjoy

As you go through this M.O.R.E. Method I want you to have a goal of making that first $100 and not stopping until you do. 😊

Do you want to make more?  Have you implemented these steps?

Direct download: EP_3_How_I_Turned_100_Into_Millions_Using_The_M.O.R.E._Method_.mp3
Category:general -- posted at: 12:31pm CST

What do the rich people really invest their money into?

You may be surprised! It’s not all about the Hedge Funds or private equity.

What I learned from watching and following other really successful people is that to I needed to invest my money/time into accelerated learning.

Here are 5 ways you can approach this:

  1. Reading self-development books
  2. Investing in a physical or digital course
  3. Mentors
  4. Mastermind Groups
  5. Build relationships

Did those answers surprise you?  Were you expecting portfolio summaries and business venture highlights?

Direct download: EP2-_5_Things_Wealthy_People_Invest_Their_Money_Into_.mp3
Category:general -- posted at: 12:59pm CST

We all want to make the highest return possible with the lowest amount of risk.

How do you do that in this crazy market?

For me, following the barbell investing strategy is what works.

Here are a few key principles you need to know about the barbell investing strategy:

1. Cash is always king 

2. Having the right insurance 

3. Low exposure to stocks and bonds 

4. High Risk Investments

5. Bring It Home 

What do you think about this strategy?

Is this something you could rally behind? 

Direct download: EP1-The_Barbell_Investing_Strategy.mp3
Category:general -- posted at: 11:18am CST

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