The Chalene Show
Today I have allowed my podcast to be taken over by my personal financial expert…my husband Bret. He is not a professional financial advisor or consultant, but he definitely has a lot of insight he can provide to the table. You will want to listen in, trust me on this one. He’s basically given himself a “degree” in finance because he is so passionate about it; he educated himself through his passionate drive. His advice is important for anyone to hear. His objective, that he will soon share with you, is to have our money make us more money. Listen in to this episode to hear how he fulfills this objective on a daily basis. I want you to know before listening that I trust this man, and he knows FAR more than I do.
With that said, I’d like to share with you a bit about what Bret explains/breaks down for you within this episode once I turn the mic over to him.
Bret is responsible for finances in the family and within this episode he’s gonna share with you his 6 tips (plus a bonus tip) to mastering finances. These tips include…
A Season of Savings (3:15) – Schedule an hour of time where you can go through your credit card or bank statement. Truly study where your expenses are directed. Look for those recurring payments. Ask yourself… “Am I still using that monthly service? Or, can I cancel that service and invest that money instead?”
Make a 12 Month Commitment (9:40) – Sit down with your spouse, or if your single you can do this individually. Make a commitment to yourself for the next 12 months that at the end of every month, you are going to invest 5-15% (whatever you feel comfortable with). If you do this monthly and stay commited, you will have developed a positive, healthy habit that’s gonna make your money grow FASTER. Yes, this may mean you have to sacrifice a bit on unnecessary spending, but find trust in this approach. Your money will grow. After this podcast, Bret wants you to go and try out Dave Ramsey’s investing calculator. He will explain in this episode how you can use it.
Set It and Forget It (16:30) – Go and pick an S and P (highly rated) index fund. You need to pick stocks within every sector, you need to stay conservative to prevent huge risks and spikes.
Let’s Pick Some Stocks (20:30) – This is for your retirement. Let’s pick some stocks that aren’t going anywhere. For example: Disney, Google, Amazon, etc. These ones aren’t going anywhere. Pick stocks that you see around you, all the time. But don’t pick too many. Pick about 5-10 good quality stocks (whatever you feel comfortable with).
Taking Some Profits (24:55) – This rule only applies to your individual stocks. I want you to take 25% of your stock profits and place them into your cash portfolio to reinvest into other stocks. If your stock goes up 50%, take 25% off. If your stock goes up 100%, take 50% off. Remember, we’re not taking our profits for a vacation!
Once you invest 6 figures, you need to get yourself a good financial advisor (29:20) – Once you have established enough money, you’ll want to get yourself 2 financial advisors
Now let’s talk about the bonus. Bret is going to tell you which stocks we (as a couple) own, as well as which stocks YOU should own for yourself. Be sure to listen in for this bonus.
If you have kids and they are old enough to listen to this, send it to them! The younger the start, the better! Have a blast seeing your money grow, it’s gonna make you feel so good to commit to this. It is irresponsible if you don’t take it upon yourself to commit now. Get excited, do some homework, and have fun!
Thank you for taking the time to listen to this!
Questions Asked/Answered in This Episode
1. Do you find yourself fearing that opportunities will run out? (1:30)
2. What stocks do Bret and Chalene own (BONUS)? (35:00)
And much more…
What You’ll Learn in This Episode
1. Bret’s 6 tips (plus a bonus tip) to mastering your finances (3:00)
2. What Bret means when he says “I want you to take your money and make it grow”(6:27)
3. Bret tells a quick story on how to make sure you’re saving money by looking at your statements quarterly (6:40)
4. The reason why it is so important to invest monthly… (10:48)
5. How to pick stocks that have a dividend (23:15)
And much more…