As business owners, your goal isn’t just to build wealth–it’s to find purpose and create a real legacy. However, so many entrepreneurs make the same mistakes, day in and day out, leaving them undervalued and stressed out–and these errors take a toll that gets worse with every passing year, especially as you head toward retirement. Author Jim Muehlhausen has learned this well. Over the course of over 11,000 coaching sessions with business owners, he’s come to understand not only the fatal errors that they make but why they keep happening and how to turn these pitfalls into income streams.  His work has led him to create the Half-Retire movement: a way for entrepreneurs to have the best of both worlds. He helps people keep their businesses, do right by their best people, and live a life of profit without the neverending grind. In today’s conversation, we discuss how to make running a business enjoyable, preserving your income, and having the power to focus on what you love–and only what you love–about working. In this podcast interview, you’ll learn:  Why so many business owners are focused on the day-to-day–and how this can sap all the joy out of entrepreneurship, especially when margins are tight. What your Picasso work is–and why so few people spend real time adding unique value to their business. Why it’s so hard to scale a business without being able to delegate–and why so many entrepreneurs can’t do it. Jim’s process for half-retirement–and when you might or might not be ready to half-retire. The best advice Jim ever received about business.    Tweetables: “The sooner you pull the trigger on getting your financial life together, the better that you're going to do.” - Jim Muehlhausen 

Your Wealth & Beyond: The Financial Planning Podcast

Living the Half-Retire Lifestyle with Jim Muehlhausen

At Bayntree, a lot of the small business owners and solo employers we work with start asking us one question as we get closer to the end of the year: what can I do to help save for retirement?    There’s no right answer for everyone–in fact, it’s a bit of a mixed bag. There’s a lot of options, and you’ll need to talk to your advisor or CPA to come up with a plan that works well for you.    Here to shed some light on this topic is my good friend and mentor, Brian Hartstein. Brian is the Director of Corporate Development here at Bayntree. Today, he brings his nearly three decades of experience to this issue to help you better understand the common mistakes business owners make, the opportunities you can take advantage of, and how to get a head start and a better understanding before you step into your next meeting with your accountant or advisor.   In this podcast interview, you’ll learn:  Why taxes are guaranteed to go up in the future–and why so many business owners are dissatisfied with their CPAs’ tax planning skills. The easiest thing for a business owner with 1099 income to do in order to save money if they don’t have a 401(k).  The big mistakes business owners make when it comes to retirement planning. What a solo 401(k) is, what it looks like, and why you may want to choose it over a SEP. Why successful business owners need the assistance of TPA firms or other partners to create plans and find every possible tax advantage available. 

Retirement Plan Options for Small Business Owners with Brian Hartstein

Whether you’re an entrepreneur, a business owner, or a solopreneur, YouTube can be an invaluable resource. It’s the second most trafficked search engine in the world with over 2 billion users logging in each month. Its algorithm has the power to make and break careers–and in a number of unique ways, it can help you create a hugely memorable brand and reach customers. Sagi Shilo knows this well. In the last five years, he started Tech Gear Talk, where he’s amassed nearly 300,000 subscribers and over 20 million views. He’s a good friend of mine, a long-term business partner, and a mentor. In today’s episode, Sagi returns to the podcast to talk about why so many entrepreneurs are missing the boat when it comes to building a presence on YouTube, what they should be thinking about, and the first steps to take to create a powerful brand of your very own.  In this podcast interview, you’ll learn:  Why your audience is on YouTube, no matter what you might think. How Sagi took his knowledge of SEO and translated it to the world of YouTube to grow from one subscriber to 300,000. The unique advantages of video over written content.  Why it’s okay if your first video doesn’t go viral and get millions of views–and how to build up a robust library of great content that adds real value to your viewers’ lives.  How to monetize your videos to create a new revenue stream. Why you shouldn’t use a webcam to shoot your videos–and how to affordably get the gear you need to produce awesome-looking content. Tweetables: “You don't need to be great to start, but you need to start to be great.” - Sagi Shilo Interview Resources Tech Gear Talk Tech Gear Talk - YouTube Channel Tech Gear Talk’s - Custom SPS Tank Tribute  

The Power of YouTube with Sagi Shilo

If you’re getting close to 50, you’re well on your way to retirement. You’ve got situations to look at, several possible mistakes you’ve already made, and some time to solve them–but the longer you wait, the worse the damage might be.  Though today’s episode was made with the Gen Xers in mind, there is plenty of advice that will work for those of you who are 45, 40, or even 35. It’s all about formulating a plan based on where you are in your life and your career, when you want to retire, and how you want to do it. With this in mind, we’re talking about the ten big mistakes that people make while planning for retirement, as well as how you can be proactive and take initiative right now. You’ll learn what to do (and what not to do) to protect your money, your health, and your legacy. In this podcast interview, you’ll learn:  Why so many people think they’re going to work longer than they actually do–and why this means you need to have a plan B if you lose your job early. Why your fifties is not a great time to change the risk level of your investments–and why it’s so easy to get emotional and fail to stick to the plan.  How to take advantage of catch-up provisions if you couldn’t invest in your retirement earlier in your career. The dangers of retiring with credit card or student debt. Why you need to invest time, energy, and money in your health now–not later. The importance of reassessing your insurance coverage. How to navigate divorce or separation. The importance of updating key documents and reviewing your estate plan. A reminder on why you can’t let the market spook you. Interview Resources Bayntree Wealth Advisors 

10 Things You Shouldn’t Do As You Plan for Retirement

A lot of people mistake “tax-deferred” for “tax-free.” This can be beneficial in the short term, but can ultimately leave you owing more on higher balances at higher rates. But what if, in some cases, the best course of action is to take advantage of the low tax rates available right now, so you can grow your money 100% for you - and not Uncle Sam - for the rest of your life? My guest, Ed Slott, makes the case for this in his new book, The New Retirement Savings Time Bomb: How to Take Financial Control, Avoid Unnecessary Taxes, and Combat the Latest Threats to Your Retirement Savings. He’s created an easy-to-follow plan that helps you place your assets to avoid traps and keep your hard-earned money, no matter what.  As a CPA for over 40 years, Ed is uniquely qualified to tackle this problem. He knows the ins and outs of IRAs better than just about anyone and works tirelessly to help people put more of their hard-earned dollars back in their pocket. At his Elite IRA Advisor Group (of which I am one), he trains a select team of 450 advisors to turn his research into practice for their clients. Today, Ed returns to the podcast to talk about the benefits of paying taxes at the record lows we’re experiencing right now, how tax-deferred assets can hurt us when we’re most vulnerable if we’re not careful, and how laws passed in the wake of  COVID-19 may affect your retirement planning for years or decades to come.  In this podcast interview, you’ll learn:  Why Ed believes that typical accountants and tax preparers are history teachers - and working with them does nothing but show you what you could or should have done. Why so many accountants are short-changing their clients by recommending they choose tax-deferred assets. Why Ed’s traditional IRA has a balance of $0 - and how this will protect him from a massive tax bill, as well as Medicare costs, later in life. The reason so many people aren’t actually in a lower tax bracket in retirement. How the SECURE Act has created huge risks in long-term and legacy planning - and why you may now need to update your trusts. The biggest mistake that people make in leaving money to the next generation. Why life insurance can provide a better benefit to families than an IRA. Why so few people are familiar with Qualified Charitable Distributions - and how they can offer huge value in tax preparation. What makes the health savings account the deal of the century. Interview Resources Ed Slott’s Elite IRA Advisor Group The New Retirement Savings Time Bomb by Ed Slott Think and Grow Rich by Napoleon Hill Bayntree 

How to Avoid the Retirement Tax Time Bomb with Ed Slott

We all talk about estate planning, and most of us think of it as something we’ll get to next year.  Why? It’s simple: estate planning forces us to admit we’re not invincible. For so many of us, it takes a major milestone or a tragic event to get our ducks in a row, and that’s not a good way to plan, no matter how old you are or what stage of life you’re in. This is why I’m excited to introduce you to Kirsten Howe. Kirsten has spent over 20 years as an estate planning attorney. At her company, Absolute Trust Counsel, she’s made it her life’s mission to educate people on the mistakes people make when they don’t plan and how to get your house in order now.  In today’s conversation, you’ll learn what happens if you do nothing, the difference between wills and properly executed trusts, the benefits of keeping your beneficiary forms updated, and what you can do to ensure that you keep more of your hard earned money. In this podcast interview, you’ll learn:  The many reasons so many people think estate planning is even worse than going to the dentist. What estate planning really means - and who it actually benefits. Why probate letter is a four-letter word - and how this can become a serious problem for individuals in second marriages, especially if they don’t actually get married. Why estate planning is even more urgent if you’re concerned about dementia. The three components of a trust. How estate taxes are expected to change after 2025 - and how to reduce the size of your estate by creating a gifting plan. How to start thinking about digital estate planning as part of your overall estate plan - and tools you can use now to get started. Absolute Trust Counsel Absolute Trust Talk Podcast 

Estate Planning Strategies to Secure Your Legacy with Kirsten Howe

Whether you’re a startup, a mature company, or a mom-and-pop, without the right marketing and messaging, you are destined to fail.  Amanda Rabideau has spent her entire career helping businesses of all sizes avoid this fate. She’s the founder of Arch Collective, where she helps companies create marketing plans and strategies to reach their ideal clients.   Today, Amanda joins the podcast to talk about the benefits of hiring a fractional CMO instead of an in-house specialist, how to get multiple talented people to work for you without paying out a full-time salary, and the steps you can do right now to 10x - or even 20x - your business.    In this podcast interview, you’ll learn:  The mistakes Amanda has seen entrepreneurs make as they try to get their message out into the world.  The common problems with in-house marketing hires at young companies - and why it’s so easy to spend lots of money without achieving significant ROI. What a fractional CMO is and does - and how they provide unique expertise and assistance to leaders who have to do 10 million things in a single workday. How to create manageable metrics and use productivity tools to hold your marketing teams accountable.  Why working with a fractional CMO and their team is more like a long-term dating relationship than a marriage - and why Amanda, who works exclusively with post-Series A B2B tech startups, has had to turn down multiple full-time job offers from clients. How to manage priorities as you create and set marketing budgets.  Why no business owner can do it all themselves - and where to find affordable, great talent when you need it.    Interview Resources Arch Collective Google Docs Monday.com Trello Todoist Jira Confluence 

Scale Your Business by Outsourcing Your Marketing

For so many people, just hearing the word “timeshare” brings chills, angst, and anger to the surface. There are 10 million timeshare owners out there, and as many as 80 percent of them aren’t just unhappy with what they purchased - they don’t know how to get out of it.  If you’re one of the many unsatisfied timeshare owners looking for an exit (or know someone with a timeshare horror story), today’s episode is for you. I’m talking to Allie Olson, the CEO of Give Up My Timeshare, where she is revolutionizing the timeshare industry and helping people put their nightmares to an end. In this conversation, Allie breaks down how to get out of a timeshare, the common scams out there preying on people trying to get out of their timeshares, the mistakes people make along the way, and what you can do to stop this liability from passing on to your children. In this podcast interview, you’ll learn:  How the timeshare industry (and the sales practices around it) changed for the worse over the last 15 years. Why so many timeshare owners are so unhappy - and how services like Airbnb and Vrbo rendered timeshares obsolete. Allie’s step-by-step timeshare exit process - and what makes her different from shady companies that ask for cash upfront and often don’t get results. The major mistakes and risks people make when investing in, using, and trying to get out of timeshares.  How failing to make timeshare payments can leave estates stuck in probate and create massive financial penalties. How to protect your kids from liability if you are having trouble getting out of your timeshare.  First steps to take if you have a timeshare you’re looking to get rid of - and how to avoid doing business with scammers and con artists in what can be a very shady industry. Who timeshares can offer value to in 2021.  Interview Resources Give Up My Timeshare Airbnb Vrbo Red Week Go-Koala 

How To Get Out Of Your Timeshare with Allie Olson

Whether you’re an individual working for a company or a business owner, you need to understand your 401(k). Along with Social Security, your savings, and a few other key assets, your 401(k) is probably going to be the single most important account you have.  Today’s guest, Brian Hartstein, is the Director of Corporate Development here at Bayntree. For nearly 30 years, his passion has been retirement planning, and he has extensive experience answering all kinds of tough questions about 401(k)s. In this conversation, Brian and I dig into why it’s so important that people understand these assets, how best to take advantage of them, and the major mistakes people make as they create (and manage) their 401(k)s. In this podcast interview, you’ll learn:  How eliminating pensions in the 1970s and early 1980s put the onus on employees to save for retirement. Why choosing to take ownership of your retirement funds, as opposed to putting them on autopilot, is likely to help you retire with much larger accounts. Why not taking advantage of employer matching is throwing away money. Why 401(k)s and other generators of real wealth are “boring” - and why that’s not bad. The importance of understanding the specifics of your employer-provided 401(k) plan - and how to work with a financial advisor to make the most of your options. What target-date funds are and how to use them. Recommended tools for DIY 401(k) planners. What people with multiple 401(k)s from multiple jobs should do with those accounts. 

Essential Tips and Strategies for Your 401(k) with Brian Hartstein

Whether you’re an executive speaking in front of your colleagues, an entrepreneur leading a sales presentation, or even just talking with your friends, at some point or another, you’re going to have to speak in public. If you’re like a lot of people, it might terrify you – and the COVID-19 pandemic requiring almost all of our meetings to be virtual probably hasn’t helped. Fortunately, there are self-proclaimed speech geeks like Terri Sjodin out there in the world to help us improve. Terri has spent the last 30 years working to help people and businesses build and deliver more polished, persuasive, and effective presentations – and, since March, has focused her work on the tools and technologies you can use right now to forge more authentic connections. Today, Terri and I are talking about the shocking mistakes that tons of professionals make when they speak in public, as well as sharing some techniques you can use right now to become a better speaker, no matter where or how you’re meeting.  In this podcast interview, you’ll learn:  Everyone can benefit from improving their presentation skills, even if you don’t work in sales or ever have to get up on a stage. The three benchmarks people use to measure the effectiveness of a presentation. Why storytelling is such a big component of almost every successful presentation. Three things you can do right now to improve your presentations - and the tools and technology that can help you deliver higher-quality virtual presentations.  What makes someone a great presenter.  Interview Resources Sjodin Communications Scrappy: A Little Book About Choosing to Play Big Logitech BRIO Rode Microphones 

Improving Your Public Speaking Skills and Presentations with Terri Sjodin

Do you want to give more, but feel like you need hundreds of millions of dollars to be a great philanthropist? Are you wondering how to be a more effective giver in your community and the world at large? Are you wondering how to teach the younger generation the value of giving?    If so, today’s episode of the podcast is for you. On this Giving Tuesday, we’re doing a show all about philanthropy. Our guest, Kris Putnam-Walkerly, has spent over 20 years advising families, individuals, and Fortune 500 companies on how to create game plans and roadmaps to help them be more effective givers.  In our great conversation, Kris and I talk about what you can do to change your mindset around giving, how we can all help each other get through tough times like the COVID-19 pandemic, and how to stop thinking in terms of scarcity and embrace abundance - in both our giving and our lives.  In this podcast interview, you’ll learn:  The difference between someone who simply donates money and someone who uses their philanthropy to create change in the world.  What philanthropy is more than donating money - and how to give your resources meaningfully even if you aren’t a multi-millionaire. How to get out of the feeling of being overwhelmed by all the causes that need aid money in the world, find causes close to your heart, and take action. How scarcity mindsets and destructive frugality hold back even the wealthiest philanthropists and stop charitable organizations and nonprofits from doing the best work possible. What charitable organizations are going to need in 2021 - and how many nonprofits made tough pivots to survive this year.  Tax-deductible investment vehicles you can use to give to multiple charities when you want to. How Mackenzie Scott is keeping her giving astounding lean while distributing massive sums of money to nonprofits and charitable organizations in need of help. Interview Resources Delusional Altruism: Why Philanthropists Fail To Achieve Change and What They Can Do To Transform Giving 8Things.org California Wellness Foundation The David and Lucile Packard Foundation Charles Schwab's Family Foundation Local First Arizona Lippman Kanfer Family Foundation 

The Power of Giving with Kris Putnam-Walkerly

No matter who you are or where you grew up, there’s a pretty good chance that you didn’t learn enough about financial literacy in schools. Whether you own a business or you’re a young professional considering starting one, knowing how to avoid the mistakes that will haunt you for years to come is incredibly important in the early stages of running a successful business. My guest, Tracey Bissett, has spent much of her career helping people become financially fit, with a special focus on entrepreneurs. On countless occasions, she’s walked people through the nature of profit and loss, how balance sheets really work, and what sustainable cash flow actually looks like. She’s also had to help people navigate extraordinarily tricky situations caused by a lack of understanding. Today, Tracey joins the podcast to talk through the mistakes she’s seen many entrepreneurs make, things you can do right now to get on top of your financial game, and what you should be thinking about in the months, years, and decades to come to maintain your financial fitness.  In this podcast interview, you’ll learn:  Why 2020 has been a very bad year for some business owners and a very strong year for others.  Why schools in both the United States and Canada do such a poor job of teaching people about money - and why so many entrepreneurs with strong skill sets lack a deep understanding of how their finances actually work. Why completely delegating your finances to someone else is a bad idea, why so many business plans prove to be astoundingly inaccurate, and Tracey’s advice for the many clients she’s met who end up building businesses on maxed-out credit cards. The age-appropriate lessons about money we should be sharing with our kids as they grow up.  Why it’s so important for anyone pursuing a post-secondary education to apply for scholarships. Interview Resources Bissett Financial Fitness Young Money Podcast YM Scholarship Fund Cash Coach Xero 

How to Get Financially Fit with Tracey Bissett

More than ever before, local businesses and small business owners need your support. If you’re a business owner, I’m sure you know this by now; if you’re a consumer, you’re probably wondering what you can do to help your community and stop big chains from taking over even more of the landscape. For the last 15 years, Thomas Barr has been helping communities answer these questions. Thomas is the executive director of Local First Arizona, an organization here in Phoenix that provides business owners with networking, education, and guidance on how to operate more efficiently.   Today, Thomas joins the podcast to talk about why the odds have always been stacked against small business owners, how the COVID-19 pandemic has made things that much tougher, and what you can do to support your favorite businesses in this precarious time. In this podcast interview, you’ll learn: Why shopping locally as opposed to with a chain store has such a big impact on your community. How seemingly unrelated local businesses can innovate and collaborate to lift each other up and create new opportunities. Why local businesses permanently lose customers when they underperform or fail to satisfy them. How the COVID-19 pandemic and the availability of PPP loans emphasized the fact that small business and big business are constantly at odds with each other in America. How Local First is building infrastructure and creating opportunities to help local businesses grow, scale, and deliver customer experiences that can compete with global retailers.   Interview Resources Local First Arizona Local Learning Lab Good Food Finder Fuerza Local Business Accelerator Changing Hands Bookstore Duck and Decanter Modified Arts Entrepreneurs’ Organization Arizona Hensley Beverage Company #yesphx 

How You Can Support Local and Small Businesses with Thomas Barr

Most people are better at planning a vacation than they are planning for retirement. People think of it as something far off that they ignore for years or decades. They make major mistakes, choose products that don’t suit their needs or meet their goals, or fail to take advantage of the opportunities provided to them.  Sarah Holden understands well why this happens. She worked at the Federal Reserve Board, where she analyzed the US retirement system and studied the retirement market. She now is at the Investment Company Institute, where she is focused on researching what people do at the beginning and ends of their careers as they plan for and transition into retirement.    Today, Sarah joins the podcast to talk about how to turn the daunting prospect of planning for retirement into a multi-step process, the important questions you should be asking your financial advisor at every stage of your career, and the three keys to success when it comes to saving for retirement.  In this podcast interview, you’ll learn:  The major mistakes people make when they think about or plan for retirement.  Why employers shifted from pensions to 401(k)s in the late 70s and early 80s - and how this changed retirement investing.  How young investors can maximize their tax benefits at the beginning of their careers.  How the CARES Act and SECURE Act have impacted retirement planning.  Why the HSA is such a great vehicle for retirement savings.  Interview Resources Investment Company Institute Retirement Plans, Benefits, and Savings from the Department of Labor Investor Page from The Securities and Exchange Commission Internal Revenue Services  

The Fundamentals of Saving For Retirement with Sarah Holden

The Retirement Red Zone is a critical point for those getting closer to retirement. Similar to the distance from the 20-yard line to the end zone in football, this is a place where it’s so important not to make mistakes.  This phase is crucial to ensure that your retirement will be stable and you’ll have a chance to truly enjoy your “golden years,” no matter how much you’ve saved, accumulated, or stored. Without a game plan, it may all blow upon you. Today, we’re talking about the common mistakes that people make in the Retirement Red Zone, the risks that are out there, and how to avoid making them. In this episode, you’ll learn:  Why social security and investments are the two means that most people now have to get them through retirement. Why longevity and healthcare costs are the biggest risks in retirement.  How many retirees fail to understand how their financial situation changes after they retire - and why not knowing how much money you truly need in retirement makes this worse.  How to optimize your retirement funds to create a stream of guaranteed income and ensure you’ll always have a paycheck to pull.  Full Episode Page: http://bayntree.com/50

Are You In Your Retirement Red Zone?

The Your Wealth and Beyond podcast was created to empower entrepreneurs and individuals with the insight and information they need to effectively manage and control their personal and professional finances. This is NOT just another podcast about money! We will focus on helping you grow your business, build your personal wealth and find purpose in what matters most. Join Andrew Rafal, the Founder of Bayntree Wealth Advisors, as he interviews leading industry experts and entrepreneurs who not only share their stories of success and failure, but provide actionable financial advice that can be used to get your ‘fiscal house’ in order, so you can take your business and finances to the next level. You Dream. We Plan®

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Your Wealth & Beyond: The Financial Planning Podcast

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