By Paula Pant
We chat with renowned financial advisor Michael Kitces at the Morningstar Investor Conference in Chicago.
Kitces answers a big question: Is the economy worse than we think? He explains that a few big companies like Nvidia, Meta, and Alphabet are holding up the S&P 500. But this doesn’t mean the economy is bad. It’s common […]
By Paula Pant
An anonymous caller and his girlfriend are musicians who dream of building a home with a monetizable recording studio. How do they untangle personal wants from business needs?
Will feels stumped about the options in his defined benefit pension plan. When should he choose a guaranteed annuity over a lump sum payment?
Mark and his partner will soon inherit an IRA worth over a quarter million dollars. With today’s elevated interest rates, would throwing it all at a primary residence be the smartest play?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
By Paula Pant
Emily Anne is worried about her obsessive tracking behavior. She’s in great financial shape but struggles to shake the constant compulsion to check her accounts. What should she do?
An anonymous caller and his partner plan to use geo-arbitrage to retire early before reaching their financial independence number. Can they have their cake and eat it too?
Kevin and his wife are having second thoughts about their Delaware Statutory Trust (DST) real estate investments. How do they back out without compromising their estate plan?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
By Paula Pant
If you’re a longtime listener, you’ll enjoy this candid, behind-the-scenes conversation about entrepreneurship and growth between Paula Pant and former financial advisor and Stacking Benjamins host Joe Saul-Sehy.
By Paula Pant
We sit down with Jim Kwik, a brain coach and expert in memory improvement, speed reading, and optimal learning.
As a child, Jim suffered a brain injury that made learning difficult. He was labeled “the boy with the broken brain,” which deeply affected his confidence and performance in school.
Fast forward to college, and Jim is still struggling. Overworked and stressed, he ends up in the hospital.
This becomes a turning point. Jim dives into brain science. Today, he’s an expert in memory, focus, learning, cognition and mental performance.
He’s here to remind us that our brains are our number one wealth-building tool.
Jim explains that asking yourself WHY you want to remember something, like a person’s name, can boost focus. He highlights the power of being present and attentive in conversations. He shares an anecdote about Bill Clinton’s impressive memory, crediting Clinton’s remarkable presence and focus.
Jim introduces the Explanation Effect, a method where you learn with the intention of teaching. This deepens understanding. If you prepare to teach something, you’ll engage more actively, take better notes, and personalize the material.
The conversation shifts to the concept of a good brain diet. Jim lists foods great for brain health, such as avocados, blueberries, and green leafy vegetables. He underscores that what you eat significantly impacts cognitive functions.
Jim debunks myths like multitasking being efficient. He stresses the importance of focusing on one task at a time for better productivity and mental performance.
He also talks about the negative impact of digital distractions and the myth that we only use 10% of our brains.
Jim wraps up with tips on maintaining brain health, such as regular exercise, a good diet, and surrounding yourself with positive people.
This episode is packed with practical advice. If you want to improve your memory, learn faster, and maintain better brain health, you’ll enjoy Jim Kwik’s tips.
Written By Paula Pant
Picture this:
A 12-year-old boy, one of four kids, sits at his computer in the early 1990’s, planning a family vacation.
Using travel points from his dad’s consulting work, he books a trip for his entire family of six to the Caymen Islands.
His fascination with travel points only intensifies as […]
By Paula Pant
If you want to learn about building wealth through entrepreneurship, you’ll enjoy this episode.
When Rachel Rodgers graduated from law school, she didn’t take the conventional path to working at a big law firm. Instead, she opened her own practice, specializing in intellectual property law. Many of her clients were entrepreneurs and small business owners.
Rachel quickly realized that many of her clients faced significant challenges in trying to grow their business. This ignited a new vision in her: to not just provide legal services but to help entrepreneurs achieve financial success.
She pivoted, shutting down her law practice to open Hello Seven, a company that offers comprehensive business strategies to help entrepreneurs reach seven-figure incomes.
She joins us today to share actionable insights that can help any entrepreneur, side hustler or small business owner reach seven figures in revenue.
By Paula Pant
Jessica and her husband are juggling two home sales and one home purchase within the next two to four years. How do they execute wisely while navigating a tight real estate market?
Zerai works two jobs that both offer a pension and retirement plan. Can he take advantage of everything at his disposal or must he make some tough choices?
Emily and her husband bought their home a year ago. But a national builder tempts them to sell and upgrade using a 3-2-1 buydown mortgage. Should they do it?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
By Paula Pant
Sara is five years from retirement with a paid-off house. But she’s worried that her money will run out before she turns 80. What does she need to do now to protect her future self?
Lauren is a personal finance nerd who gets it. But one question perplexes her: When should she choose an ETF […]
By Paula Pant
Maybe you’re trying to convince:
– Your spouse | to embrace the FIRE movement.
– Your teenage kids | to invest some of their summer job money in stocks.
– Your neighbor | to sell you their house in a private, off-market deal.
– Your boss | to give you more vacation time.
– Your client | to pay you more.
Today’s episode is about how to change minds, build trust, navigate conversations, and influence and persuade others.
We chat with Michael McQueen, a social researcher, strategist, and the author of 10 books.
He’s spoken alongside Bill Gates, Apple co-founder Steve Woznick and Dr. John C. Maxwell, and was named Australia’s Keynote Speaker of the Year. His latest book, Mindstuck, focuses on how to be more persuasive.
Here are some of the ideas we cover:
Stubbornness: We tend to be stubborn because of our inherent desire to protect our existing beliefs and identities. This is partly due to the fact that the human mind has a tendency to make quick judgments and resist challenges.
Logical Fallacy: People often rely on confirmation bias and tribalism when evaluating information. We tend to favor information that aligns with our existing beliefs and groups we identify with.
Complexity over Extremes: When presented with opposing viewpoints, exposure to extreme viewpoints can – counterintuitively – make people more entrenched in their own beliefs. Introducing complexity and nuance can foster a more open-minded approach.
Here are some of his tips:
Uncover the Hidden Fear:
We often hear people resist change. But McQueen suggests a deeper truth: people fear losing something valuable. This could be certainty in their beliefs, a sense of control, or even self-worth. When someone seems stubborn, recognize it might stem from fearing a loss like this.
Address the Loss Aversion:
Instead of just highlighting the benefits of change, acknowledge potential losses people might associate with it. Can you reassure them or show how the change won’t diminish their power, security, or self-esteem?
Use “Right and Reflect” to Get People Talking:
This technique helps people reflect on their own reasons for change. Here’s how:
• Ask about willingness to change: Use a 1-10 scale, with 10 being most willing.
• Reflect on their answer: Listen to their response and acknowledge their hesitation (e.g., “Sounds like a 3 out of 10. What concerns you?”).
This simple approach encourages people to explain their resistance, potentially revealing underlying fears. You can then address these concerns directly and work together on solutions.
Build Rapport and Choose the Right Moment:
Trust and rapport are crucial, especially in formal work settings. When facing disagreements:
• Acknowledge the awkwardness: Let the other person know you understand the conversation might be difficult.
• Start with humility: Avoid being overly assertive. Show willingness to hear their perspective.
• Choose the right moment: Not all times are created equal. Pick a time when both parties are calm and receptive.
Frame Your Message for Impact:
The way you present information can significantly influence how it’s received. Here are two effective framing tips:
• Align with values: Use language that resonates with the other person’s values and moral foundations.
• Focus on the positive: Highlight positive aspects of the person or situation when giving feedback.
Move Beyond Persuasion and Focus on Progress:
The ultimate goal shouldn’t be to win an argument or force someone to agree with you. It’s about creating a space for open communication and exploration.
• Focus on progress, not victory: Changing minds is a gradual process. Celebrate small wins and focus on making sustainable progress together.
• Be open-minded and collaborative: Be open to considering the other person’s perspective and work collaboratively to find solutions.
• Avoid manipulation: Ensure your goal is to benefit the other person, not just yourself. True persuasion comes from a place of genuine interest in helping others grow and improve.
McQueen elaborates on these tips in today’s podcast episode. Enjoy!
