Changing the Conversation

Key Takeaways

  • Establishing boundaries on our money with both ourselves and others helps keep people from becoming overly dependent upon us.
  • Continually paying off debts or financially rescuing our family and friends from situations is just a short-term fix to a long-term behavioral issue.
  • Sometimes tough love is what it takes for a family member or friend to break their money dependency cycle; there is no easy solution.
  • These situations are often very emotional and difficult, so don’t handle them alone and ask for help if you need it.

The Three Step Wealth Reset

Key Takeaways

  • We reset ourselves throughout our lives, so it’s important to ask questions about what we want the outcome of our resets to look like.
  • There are four freedoms that come together to form a three-step wealth reset process, and they are time, money, relationships and purpose.
  • Discuss the answers to the three-step wealth process questions with someone else for a less emotional and outside viewpoint.

Protecting Your Own

Key Takeaways

  • Insurance, tax planning, legal structures, financial documents, and family matters all come into play when it comes to protecting your assets (and your family’s).
  • Estate planning is not a one-and-done exercise. You need to review your plan regularly and make adjustments as your life circumstances change.
  • Umbrella insurance is extra liability insurance that protects your personal assets from major claims and lawsuits above the limits of your homeowners, auto, and boat insurance.

Ever-Expanding Cash Flow

Key Takeaways

  • Financial freedom is about diversifying your income from as many sources as possible.
  • Everyone from college students to working people to retirees can take part in the gig/e-commerce economy.
  • Life circumstances and economic cycles never stop changing—make sure you are protected.