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

Welcome to the "Good Financial Cents Show"!

In this episode, we will be discussing one of the most important concepts in personal finance: compounding interest. Our topic for today is "The Best Compounding Interest Investments to Build Wealth".

Join us as we explore the different investment options available to help you grow your wealth over time. We'll be covering the benefits of compounding interest and how it works, as well as some of the best investment companies to consider.

Our host, Jeff Rose, a certified financial planner and founder of the Good Financial Cents blog, will be sharing his expertise and insights on the subject. 

Whether you're just starting your investment journey or looking for new ways to grow your wealth, this episode will provide you with valuable information and strategies to help you make the most of your money.

So, sit back, relax, and join us for this informative and engaging episode of the "Good Financial Cents Show".

Thanks for listening to the Good Financial Cents podcast!  Check the blog for fresh content at www.GoodFinancialCents.com.

Resources:

• 8 Best Guaranteed Investments to Invest Your Money Right Now
• How to Invest for a Big Profit During an Inflation

Engage on Social:

• Wealth Hacker YouTube channel: https://www.youtube.com/wealthhacker/
• Good Financial Cents YouTube channel:  https://www.youtube.com/goodfinancialcents
• Follow me on Twitter (@jjeffrose) and Instagram (@jjeffrose)

My Courses:

• Passive 1k Income Accelerator 
• 10x Goals

Welcome to the Good Financial Cents podcast!

Do you feel like you've been stuck in a rut with your current income? Do you want to break through that plateau and dramatically increase your monthly income in under 3 months? Well, you've come to the right place!

In this podcast, I'll be talking with Justin Wise who was dead broke and turned it all around with a BOLD decision. That descision led to him making more in a month than he did with his previous job and he did so in only 90 days!

In this show, we'll be walking you step-by-step through the process of making more money than you ever have before.

We'll talk about finding new side hustle opportunities, setting up multiple streams of income, and strategies for getting paid for what you do best.

So if you're looking for a way out of your financial funk, stay tuned! Because I'm here to help you reach that next level of success.

Thanks for listening to the Good Financial Cents podcast!  Check the blog for fresh content at www.GoodFinancialCents.com.

Resources:

• Justin on Twitter: @justinwise
• Justin's site:  https://www.justinwise.net
• Get Started:  Small Business Ideas to Start

Engage on Social:

• Wealth Hacker YouTube channel: https://www.youtube.com/wealthhacker/
• Good Financial Cents YouTube channel:  https://www.youtube.com/goodfinancialcents
• Follow me on Twitter (@jjeffrose) and Instagram (@jjeffrose)

My Courses:

• Passive 1k Income Accelerator 
• 10x Goals

Welcome to the Good Financial Cents show!

In this episode, we'll be looking at the safety of investing with M1 Finance. We'll look at their regulatory history, customer feedback, and security measures that make M1 Finance one of the best investment apps on the market today.

We'll also discuss how you can further protect your investments when using M1 Finance and explore some resources to help you in making informed decisions about your money.

So tune in this week to find out if it's safe to invest with M1 Finance.

Thanks for listening to the Good Financial Cents podcast!  Check the blog for fresh content at www.GoodFinancialCents.com.

Resources:

• M1 Finance Review
• Best Trading Platforms
• How to Invest $2,000-$3,000

Engage on Social:

• Wealth Hacker YouTube channel: https://www.youtube.com/wealthhacker/
• Good Financial Cents YouTube channel:  https://www.youtube.com/goodfinancialcents
• Follow me on Twitter (@jjeffrose) and Instagram (@jjeffrose)

My Courses:

• Passive 1k Income Accelerator 
• 10x Goals

The Roth IRA is a great way to save for retirement, but it can also be risky if you don't know what you're doing.

In this podcast, we'll explore the different ways you can lose money in a Roth IRA and how to avoid them.

We'll discuss the risks associated with taking out early withdrawals, overfunding your account, and investing in high-risk but also high-yield investments.

We'll also look at strategies you can use to protect your investments and make sure your Roth IRA works for you.

Don't miss out on this essential advice on how to manage a Roth IRA without putting your retirement savings at risk!

Thanks for listening to the Good Financial Cents podcast!  Check the blog for fresh content at www.GoodFinancialCents.com.

Resources:

• Roth IRA rules for 2023
• Best Investments for a Roth IRA
• Roth IRA Tax Deductions - Can you write off losses?
• How to Open a Roth IRA - Best Options

Engage on Social:

• Wealth Hacker YouTube channel: https://www.youtube.com/wealthhacker/
• Good Financial Cents YouTube channel:  https://www.youtube.com/goodfinancialcents
• Follow me on Twitter (@jjeffrose) and Instagram (@jjeffrose)

My Courses:

• Passive 1k Income Accelerator 
• 10x Goals

Jacob Wade had it all.  A great career with a 6 figure salary. A growing family with the nice house in an amazing neighborhood. 

But something was missing.  He wasn't sure what it was until a major anxiety attack forced him to take a hard look at what really mattered in his life. 

That led to him having a "CRAZY" idea he eventually shared with his wife and she was on-board.

Tune in to find out how he was able to quit his $100k job and then travel the country with this 3 kids. 

Thanks for listening to the Good Financial Cents podcast!  Check the blog for fresh content at www.GoodFinancialCents.com.

Engage on Social:

• Wealth Hacker YouTube channel: https://www.youtube.com/wealthhacker/
• Good Financial Cents YouTube channel:  https://www.youtube.com/goodfinancialcents
• Follow me on Twitter (@jjeffrose) and Instagram (@jjeffrose)

My Courses:

• Passive 1k Income Accelerator 
• 10x Goals

2023 is here and if you're like most, you have some really ambitious goals you want to knock out this year  - Let's go!

Maybe you had the same goals last year and now you're worried you'll waste another year.

If that's you, no fret! 

I've invested a lot of time and money into business coaching programs that have transformed how I go about setting and achieving all my short-term and long-term goals. 

And I want to show you what I've learned in my 10x Goals Accelerator Course.

Tune in to learn how to get early access. 

Thanks for listening to the Good Financial Cents podcast!  Check the blog for fresh content at www.GoodFinancialCents.com.

Resources:

How Setting Goals Increased my Revenue by 100%

Engage on Social:

• Wealth Hacker YouTube channel: https://www.youtube.com/wealthhacker/
• Good Financial Cents YouTube channel:  https://www.youtube.com/goodfinancialcents
• Follow me on Twitter (@jjeffrose) and Instagram (@jjeffrose)

My Courses:

• Passive 1k Income Accelerator 
• 10x Goals

What’s going on GFC Fam and Wealth Hacker Nation!

Wanted to give everyone an update on what has been going on with the Podcast, the Blog, and the YouTube Channel.

You may have noticed that the episodes have been sporadic in the last couple of months.

There have been a lot of things going on in the business over these months.

A big event just happened in my life a few weeks ago.  I went to my bank and sent the largest wire I’ve ever sent in my life.

I sent this wire to a former business partner. This wasn’t necessarily a horrible thing, just a change.

It has been 5 years since I have been a solopreneur, or just me without any partners.

It feels so good to have Good Financial Cents to myself again.  I feel like I have my baby back!

I want to thank you all for being a part of my community and following along with my journey.

Stay tuned for some exciting new changes!

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

"The amount of money you helped us save on that deal alone — paid for coaching." - Charles Rose, Jr.

When you see someone that has achieved a certain level of success that seems improbable - how often do you hear ‘They just got lucky.”

I’m here to tell you luck only finds you if you are willing to take risks.

Today we get to hear one of those  heart-felt stories of someone that wasn’t willing to take no for an answer.  

They were willing to take risks.

06:22 Who is Charles Rose?

09:45 Living paycheck to paycheck

12:25 Seeking mentorship

16:50 What was the ‘wake up call’ moment for you?

21:15 At what point in your journey did you write your book?

25:54 Are there any experiences that didn’t work out, but led you to where you are now?

32:04 How difficult was it for you to reach the point where you hired a coach?

39:10 Tell us about the benefits you realized with your coaching experience.

42:35 How much of your time, energy, and focus is on real estate?

Resources:

• Master Passive Income  |  https://masterpassiveincome.com/
• Text WEALTH to 55444 for FREE real estate course.
• (Find Charles @ CharlesRoseJr on all social media platforms)

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

Can you imagine having a net worth of over 26 Billion Dollars???

Then having your entire net worth disappear overnight….

This is what happened to thousands of people, including me.

I am really getting tired of making this type of Podcast. (I recently did a similar one on Celsius Network).

02:30 Not your keys, not your wallet

05:13 No regulation, no FDIC insurance

06:12 Another crypto catastrophe

10:45 BlockFi Announcement

13:25 Don’t forget fraud

Resources:

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

Where in the world are you supposed to put your money?

Interest rates have more than tripled...

The Stock Market is down 27%

Bitcoin is down 57%….

Where in the world are you supposed to invest your money?

You often hear real estate is a good investment, but does it still make sense in this environment with a housing bubble just around the corner?

I tucked some money in Fundrise about 4 years ago - I’ve been updating my returns regularly.

Since I hit a recent anniversary let’s take a look at the latest returns.

03:00 What is Fundrise

05:20 Tiers and Fees

07:20 Fundrise shows ALL the details

09:45 My Fundrise account

13:10 My returns

16:09 My transactions over 4 years

17:20 Properties in my portfolio

19:19 Fundrise investments vs. other investments

27:10 Does Fundrise make sense for you?

Resources:

My 4 Year Fundrise Returns – Is Fundrise Worth it?

Fundrise Review - How to Invest in Real Estate

Best Fundrise Alternatives: Seven Top Real-Estate Crowdfunding Platforms to Consider

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

You often hear 'If you want to build wealth, you must invest into real estate.’

If you’ve done any research, you know there are different types of real estate:

• Flipping properties
• Apartment complexes
• Hard money loans
• And many more…

It can be overwhelming.

My guest had a similar experience when trying to invest.  Until he found a niche.

Let’s see what niche he discovered and a whole lot more.

Today’s guest is Seth Williams and he is a real estate investor.

04:14 Who is Seth Williams

06:35 The strategy to buying land

09:44 Did this start as a side hustle?

11:22 How much time was spent between learning and your first ‘deal’?

14:18 Was there a time where you ran into unexpected problems?

19:23 Is information easier to get now vs when you started?

22:53 I am surprised that there are still opportunities where you aren’t competing with others.

24:40 Are there any states where you won’t buy land?

26:25 On average, how many deals do you do per month, per year?

27:35 At what point where you able to leave your day job?

28:26 What year were you able to make a deal that was larger than your full-time annual salary?

31:56 What happened that made you feel safe enough to leave your job?

35:43 When did you feel you wanted to transition to teaching others?

40:00 What is R.E. Tipster?

Resources:

https://retipster.com/

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

The IRS just released some of the largest increases in retirement plan contribution limits.

I’m excited! You should be too.

9.8% increase for 401k’s and 8.3% increase for IRA’s.

01:44 IRA Increases 

03:32 Gross Income Limits

05:06 401k Increases

06:25 401k ‘Catch Up’

Resources:

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

Close your eyes and imagine the richest business person you can think of….

Chances are you probably don’t know them well, all you know about are the successes they’ve had.

You don’t know about the failures and the mistakes.

I’m here to tell you, things don’t just ‘work out’.

I have shared some of my mistakes and failures with you in the past but I wanted to record an update.

I want to share some of my biggest investing mistakes that have cost me over $4.2 Million, I hope that it helps prevent it from happening to you.

02:01 Haters on Twitter

06:01 Penny Stock Mishap

09:43 Iraqi Dinar

13:02 Solo 401k Business 

19:14 Investing in Sports Cards

22:18 Cryptocurrency Investments

27:09 Bad Business Partnership

Resources:

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

Could you imagine being 19 years old and getting in a car accident that nearly takes your life?

You survive, but you are seriously injured and have to learn how to walk again.

Turns out a good friend of mine found himself in this situation and used this as an opportunity to learn a new skill.

It started as a hobby and has become his full-time career.

03:32 A photographer, an author, and a mentor 

07:12 What led you down the path you are on today?

12:50 At what point did you start generating money?

23:03 Pursue a worthy goal with all you’ve got!

25:58 How do you validate your work and move on to larger projects?

34:12 Walk us through your transition from photographer to mentor

38:45 Share an inspirational story of one of your students.

Resources: 

https://davidmolnar.com/

https://learningtoseebook.com/

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

Nobody saw that coming!

Inflation numbers just came out……what in the world happened?

Many of us thought we would see this number go down!

Gas prices have been declining, so why didn’t inflation go down?

9.1% - That is what the Consumer Price Index (CPI) is right now.

This is a 9.1% increase from June of last year.

Hourly wages for workers have fallen 1% during the month and are down 3.6% from a year ago.

If feels like we are losing money everywhere!

Resources:

5 Best Hedges in the Face of Inflation

https://www.goodfinancialcents.com/best-hedges-against-inflation/

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

If you want to watch a movie, you can login to Amazon Prime and click ‘Buy Now’.  If you want to read a book, you can download one immediately on Audible.

Technology has allowed conveniences at record speeds.

Why wouldn’t we expect to build our credit score overnight?

Is it really possible? Can we raise our score by 100 points overnight?

This is a question that was posed by a reader, Robert.

Robert says he has made some bad choices in the past which has affected his credit. He is working towards paying off credit cards and other debt to improve his bad credit score but wants to know if there is anything else he can do to raise his score quickly.

04:29 Check your credit score regularly

05:53 Can this happen overnight

07:45 What affects your credit score

11:22 A great example of credit repair

Resources:

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

When most people think about the wealthiest people in the world and the investments they own - real estate is usually on that list.

Real estate investing doesn’t always have to be with physical properties.  There are different ways and different types of digital real estate investments.

I want to dive in and share the details of some of these ways for you.

01:48 Digital Real Estate

07:40 Niche Sites v Authority Sites

10:02 Buying and Selling Websites

14:43 Building an eCommerce Store

16:30 Digital Products

Resources:

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

Inflation…Inflation…Inflation

It is still all over the news!

With good reason, in May we saw the consumer price index increase by 8.6% over the last year.

This is the highest increase since 1981.

How do you protect yourself from inflation?

I am going to share 4 expert strategies to help you protect yourself from inflation.

02:50 Stocks in companies providing basic supplies

04:15 Dividend stocks

08:13 Commodity Stocks

10:21 Government Bonds

Resources:

4 Expert Inflation Protection Strategies To Implement Now

https://www.forbes.com/sites/jrose/2022/05/26/4-expert-inflation-protection-strategies-to-implement-now/?sh=1ce33c26639d

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

Choices….choices…choices.

I like variety and the option to choose.

Sometimes we can have too many choices and end up with analysis paralysis.

There are many types of investments strategies you could choose.  Today I am going to narrow that down to 4 - to help you avoid analysis paralysis.

So what are the basic investment strategies for beginners, that you can implement on your own, that we are talking about?

02:54 Value investing

05:07 Growth investing

09:11 Momentum investing

11:47 Dollar cost averaging

Resources:

• Best Investment Apps
• Best High Yield Investments
• Best Long-term Investments

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram. 

Happy 4th of July!

Freedom we have as a Country!

Freedom we have as individuals!

Freedom of Choice!

Freedom of Expression!

Freedom to listen to this Podcast :)

Thank you for being a part of the Good Financial Cents community.

What else can I do to help?  What types of content would you like to see?

Is there anything I can share that will help you reach your financial goals?

References:

https://www.goodfinancialcents.com/ask

Check out my YouTube channel here.

Follow me on Twitter and Instagram.