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Real Money Talks

As an entrepreneur, small business or practice owner, or high-level executive, do you ever find yourself wondering if you’re using all the tax, entity and wealth strategies available to you or if your investments are truly producing all they could be? Happily, you don’t have to put up with that any longer. I have the solution. Real Money Talks! We're having the right conversation about money.
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Jul 11, 2019

Tania Vasallo is the founder of The Courage To Be Happy a supportive community that empowers women entrepreneurs to create an authentic brand and lifestyle that fits their vision. Tania started out as an art director at a New York agency where she worked with big brands. 

In her search to find something more fulfilling, she became one of the early certified life coaches. After many moves and career shifts, she founded The Courage To Be Happy. Tania is also a client. Today, we discuss what it means to have courage, the different ways men and women think about money, and why it’s important to make a plan and then jump in and do it. 

You can find Tania Vasallo here:

Ask Loral
The Courage To Be Happy

Show Notes:

  • [01:31] Tania started as an advertising art director in New York City around 20 years ago. She worked on huge accounts like Samsung and Starbucks. 
  • [02:02] Her work didn't align with her values and she wasn't happy with it. She felt trapped in the corporate world.
  • [02:16] Tania and her husband both decided to quit their corporate jobs. They worked as photographers and Tania got her life coach certification. 
  • [02:58] They then moved to Spain where Tania is originally from. They opened a creative studio. 
  • [03:43] They then moved to the States and Tania launched The Courage to Be Happy four years ago. 
  • [04:33] She started focusing on branding, but teaches a lot about women and business and money.
  •  [06:08] Tania learned that a lot of women wanted to start amazing business, but had trouble with the making money part. 
  • [06:21] She works with women and finds where they are at with their business and then helps them find their blind spots when it comes to systems and strategies. 
  • [08:29] A lot of women don't want to talk about money. There seems to be a shame when it comes to talking about money. 
  • [09:20] If you have courage the universe will compensate.
  • [09:43] When it comes to sales a lot of women don't want to ask for money. 
  • [10:24] Business is all about exchanging money for value. Money touches everything in our world. Get yourself educated about business and money. 
  • [11:29] Men seem to be more decisive and feel more qualified. A man will ask for a sale when 50% qualified where women want to be 100% qualified. 
  • [12:55] Women also tend to feel that they need to do everything themselves. Men don't struggle with investing in themselves. 
  • [14:16] Things shift when you put a plan together. Jump in. Life is too short to not follow through. 
  • [15:12] Tania stopped coaching after she had a close friend and client suddenly die. 
  • [17:44] People often don't plan their lives, dreams, and goals.
  • [18:31] Tania is giving away a workbook to help think about what you want in your life. 
  • [19:18] Journaling is a wonderful tool that helps us tap into deeper parts of ourselves. 
  • [20:28] Keep on dreaming and have courage over comfort. 

Links and Resources:

Jun 27, 2019

As our population ages the need for caregivers keeps rising. My guest today is a huge proponent of modern active aging. He has also built a business around finding caregivers that clients can trust and relate too. Jon Siegel is a board-certified clinical psychotherapist who has been in private practice for 35 years.

Jon discovered a need and decided to build a business around it. His business The Perfect Companion uses unique insights to assess the skill sets and personalities of caregivers in order to match them to clients according to their personalities and needs. Jon talks about his business and how having the proper care and lifestyle can lead to vital active aging. 

You can find Jon Siegel here:

Ask Loral
The Perfect Companion
Call Jon (602) 300-5018
Call the office ask for Carlos (602) 595-9096

Show Notes:

  • [01:35] Jon is a psychotherapist by trade, and he has been in private practice for 35 years.
  • [02:07] He concentrated on anything with the mental health approach.
  • [02:29] There was a lack of quality caregivers in Scottsdale, Arizona. There was a need for a non-medical in-home care provider that featured people who could relate to the clients.
  • [03:36] Jon started The Perfect Companion with the goal of matching up the personalities and skill sets of their caregivers with the personalities and needs of their clients. 
  • [04:04] Jon created a successful concierge approach where they match their caregivers with their clients.
  • [04:42] Modern active aging is where one can physically, emotionally, and socially stay in touch with the times.
  • [05:24] We should have a positive modern way of being able to help people from a medical standpoint.
  • [05:36] We want to age in a strength-based way and stay away from the pharmaceuticals.
  • [06:32] As we age, we need to have purpose, passion, and possession. Take ownership of something that you do better than anyone else. 
  • [10:11] The active aging model is doing things in a mindful way. 
  • [11:05] Jon is an active proponent of plant based diets and actively working out. 
  • [11:33] The mind and gut go well together. There is a lot of gut toxicity. 
  • [13:00] Get out and move. You don't have to be the best. Combine the mind, body, and spirit in a way where you do things well. 
  • [14:42] He tries to attract clientele who have discretionary income for a private pay basis. They try to find caregivers with similar life experience. They also hire older people to match up with their clients.
  • [18:34] Jon talks about attracting and attaining the care givers that he wants and needs.
  • [19:14] Talk to family and friends and find people for caregivers and clients.
  • [20:33] The top markets that Jon is targeting include Palm Springs and Beverly Hills and Lake Tahoe where people are looking for personalized care. 
  • [23:30] They can also add on value with natural medications. 
  • [25:01] Technology and creating interactive experiences is really important. Building the model that matches the caregiver with the client creates a lot of trust.  

Links and Resources:

Jun 20, 2019

Have you ever dreamed of being on Shark Tank? Do you have an amazing business idea that needs capital to get off of the ground. Today’s show is an interview that Loral did with Jonathan Foltz. Jonathan is the co-founder of PITCH Investors Live. This is a new platform that allows entrepreneurs to pitch their ideas to potential investors and sharks.

Jonathan sums it up as Shark Tank meets Kickstarter meets online dating all live streamed. This revolutionary new app not only allows regular people to get in front of much sought after investors, but it has the capacity to get your idea in front of regular people who might be interested in investing in you and your idea. Loral is super excited about this new business partnership and her and Jonathan talk about everything involved in pitching and how you can get started with some incredible bonus offers.

You can find Jonathan Foltz here:

Integrated Health & Wealth
Ask Loral

Show Notes:

  • [06:01] The app has about 200 to 300 investors in their database. People are even getting deals from people watching in the audience, so there are probably more like 1000 investors.
  • [07:55] The Big Table teaches how to vet deals.
  • [08:19] Sharks are equity investors that also bring their brains and experience to the deal.
  • [09:24] Can you give too much info when pitching a shark? Real sharks are so busy, they aren't going to "steal" your idea.
  • [13:39] An accelerator session is a 30-day trial to learn everything you need to know to get your idea off of the ground.
  • [17:14] Loral gives tips on what you need to pitch properly. Investors also like partners, knowing your market, and how you're going to make money.
  • [18:56] Have a really good story and have numbers that make sense.
  • [20:04] Jonathan shares how he got started with PITCH Investors Live.
  • [22:13] Getting money and strategic partners is always one of the hardest things. Getting cash from investors can accelerate growth.
  • [24:44] Jonathan shares a success story where a guy pitched, got rejected, and then someone from LinkedIn contacted him. Now his company has been acquired.
  • [26:24] People who are just watching the pitch may contact the entrepreneur. The pitches will be available for later viewing.
  • [28:29] To get started, you sign in, and download the app. You can also create a pitch summary and watch other pitches. The live summary allows investors to see them.
  • [30:26] You also get a notification when someone wants to see your pitch.
  • [31:44] You just need to do it. The first pitch will change form many times.
  • [32:12] The 10 Steps to a Perfect Pitch tells you how to construct a pitch. There is a video and PDF version. They also have a one page business plan template. There is also a Pitch Deck PowerPoint type presentation. The accelerator program is a private Facebook group of very hungry entrepreneurs collaborating together.
  • [39:02] There is also a tip feature in the works.
  • [49:50] The whole idea is to offer value and help entrepreneurs get their ideas out into the world.
  • [50:46] Make sure you at least get a patent pending, but don't let it slow you down. You can also have the investors sign an NDA.
  • [54:47] It's important to be concise and get to the point. Be up front if you don't know something.

Links and Resources:

Jun 13, 2019

Without our health, what do we really have? Today’s show is about making money from a health point of view. I have a special guest today. Lauren Powers is a 10 time overall heavyweight bodybuilding champion. She has devoted her life to health and fitness, and she has the muscles and awards to back that up. She is venturing into a new fitness quest to help overworked, stressed women who have devoted their lives to work and making money, but have let their fitness fall by the wayside.

Lauren talks about mindset, goal setting, eating the right foods, rest, hydration, and her passion to help these women turn their lives around. We also talk about the financial side of fitness from sponsors to coaching and how health and wealth go so well together. We also talk about our upcoming event and how you can get Lauren’s book Beneath the Muscle for free.

You can find Lauren Powers here:

Integrated Health & Wealth
Ask Loral

Show Notes:

  • [01:40] The first chapters of Loral's life were in the health and fitness space where she made hundreds of thousands of dollars building fitness centers, personal training, and instructing aerobics.
  • [01:59] Lauren is going to get Loral lean again, and Loral is going to get Lauren really really rich again.
  • [02:17] Lauren was an athlete her entire life. After High School, she moved to Hawaii and opened a surfing school. She was also a State outrigger race champion.
  • [02:39] She lived in Laguna Beach when it almost burnt down, and she became inspired to become a firefighter, so she could give back to her community.
  • [03:11] The firefighting didn't work out, but she became the famous fitness celebrity that she is today. Lauren is a 10 time overall heavyweight bodybuilding champion.
  • [04:11] There was no social media when Lauren was doing bodybuilding. She would tour around the world and speak about the sport.  She builds her brand using mainstream media.
  • [04:47] She's been on TV shows and music videos.
  • [05:50] Lauren is now the founder of the Fierce Formula, and she is specializing in helping female entrepreneur women who are in their forties and above.
  • [06:53] Lauren wants to help women who have spent so much time building their business that they've neglected their bodies and the health side is just as important if not more.
  • [07:10] Lauren wants to create a resource, so that when women go to a gym they know exactly what machine to use and how to use it.
  • [07:55] People's health is going down with all of these prescription drugs that have so many side effects. We didn't have these problems 10 years ago.
  • [08:52] Lauren is all for anything we can do to combat the aging process. These are the types of things she's sharing with her clients and her audience.
  • [09:47] 90% of our health revolves around what we put in our mouths. As an expert, Lauren uses genetic testing to help people find the right foods for their body type.
  • [12:16] Lauren only promotes products that she uses and likes herself.
  • [13:38] Lauren's real passion is helping real women instead of the competitive athletes.
  • [15:08] She is used to being creative and working pretty hard, and she's super excited about sharing her expertise.
  • [15:47] Lauren shares how she helped a wealthy stressed out man build a gym and change his lifestyle. She also helped him with his food and supplements. He went from being overweight and stressed to super ripped and trim.
  • [17:38] You have to stop the fast foods in the fried foods and be conscious about what you put in your mouth. Have protein shakes and stay hydrated. Get plenty of rest. Destressing your body is very important in combating the aging process.
  • [18:42] You have to be laser focused on what you want and what your goals are.
  • [19:09] A lot of problems start in the gut, and digestion is a major key to health.
  • [20:30] There's a science behind all of this, so it's important to get with a personal trainer.
  • [21:04] Yoga and meditation are also key factors. 

Links and Resources:

May 30, 2019

Conflict can be a loud disagreement or an encompassing silence that freezes out communication and progress. No matter how it is manifested, it can cost entrepreneurs, businesses, organizations, and individuals time and money that they didn’t realize. On today’s show, I have conflict resolution experts Jenn Beninger and Carson Cooper here to talk about problems created by conflict and how to find solutions.

We talk about how underlying conflict can cause turnover and cost time and money. It can arise between partners, clients, vendors, and colleagues. Jenn and Carson talk us through the many hidden costs of conflict, and then they explain some of the questions that can be asked to find out where each party is coming from to begin chipping away at a solution.

You can find Jenn & Carson here:

Ask Loral

Show Notes:

  • [01:31] Carson has been in the conflict resolution field for the last 7 years and he's been coaching for the last 10 years. He has a master's degree in negotiation, conflict resolution, and peace building. He's also worked as a lead trainer and mediator.
  • [02:05] Jenn has a bachelor's degree in psychology, and she is a master trainer in NLP. She has coached hundreds of clients in dealing with conflict.
  • [03:05] Some of the ways that conflict costs businesses money include destroying the culture and the employee and client mindset.  High turnover is another issue.
  • [05:25] Conflict can create indirect and hidden costs that just mount up.
  • [07:21] Turnover, hiring, and training is a huge cost of conflict.
  • [08:01] Entrepreneurs that have conflict with teams and vendors is also a huge loss of time as vendors and contractors are changed. This results in loss of income.
  • [09:16] Conflicts in partnerships can cost an entire deal.
  • [10:07] Trust is a confidence of a positive expectation. Distrust is where negative assumptions are made. Companies need to build trust and find out where the distrust is.
  • [12:18] Clients can show up with a presenting problem, but there is always a greater problem that is affecting them. The distrust can even affect future businesses.
  • [13:46] Become aware of the language and dangerous mindsets. Also watch out when people are really defensive or blaming or shaming.
  • [15:33] What are people saying and how are they asking questions. People come into conflict with their judgement and perspective. What does this represent to you and what is your definition of?
  • [17:09] Understand where people are coming from. In every conflict, people are protecting something. Find what they are protecting and why this conflict is so important to them.
  • [19:25] Try to set in a goal-oriented action plan where people are looking at what they want as opposed to what they don't want.
  • [21:00] Jenn and Carson are here to help support you in your solution. You can jump on a call with them and spend an hour.
  • [23:26] Look deep at the places with your life and get unstuck.
  • [23:55] The quicker you resolve the challenges in your life the more time you have to open up to bigger opportunities and more wealth.

Links and Resources:

May 16, 2019

Real estate and investments go up and down in cycles. It’s been 12 years since the last crash. Are we due for another one? There are experts who say yes, and experts who say no. My guest today is Elysia Stobbe. Elysia is an authority on mortgages and financing real estate for first time home buyers and investors. She is the author of How to Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye ™ and the host of the Fork This Mortgage Podcast.

She has over 20 years experience in real estate, investing, and mortgage finance. She is here today to talk about when and why she thinks the next big crash is coming and what to do about it. We talk about using the numbers correctly to make sure that your investment has enough cash flow to make it profitable. She gives tips on finance options and the importance of due diligence. If you have questions about real estate investing, you will love this episode.

You can find Elysia here:

Ask Loral
Elysia Stobbe Website
How to Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye ™
Fork This Mortgage Podcast

Show Notes

  • [01:20] During the last crash Elysia learned a hard lesson.
  • [01:48] It's time to consider what your play is if there is a crash.
  • [02:30] A lot of talking heads get paid to say that things are great.
  • [02:49] There are financial cycles. We were due for a correction fueled by volatile mortgage products.
  • [03:27] They were also mortgage products available for people with poor credit scores and who didn't have a good history of repayment. Adjustable rate mortgages were also a problem.
  • [04:10] Elysia feels we are overdue for a correction.
  • [04:48] Think about cash flow when you are investing.
  • [05:05] Make decisions by numbers not emotions.
  • [05:23] When everyone is trying to be an investor that is usually the time not to be an investor.
  • [06:50] There's a lot of information available for the public also take advice from people who you trust.
  • [07:16] Ask your mortgage professional what they're closing rate is.
  • [08:04] There are products for investors based only on cash flow. Then there are bank statement programs where we go off of the income taxes. There are many different mortgage products out there.
  • [09:04] There is even hard money lending from private lenders at high interest rates. Get pre-approved up front, so you know what your numbers are and can have a realistic cash flow.
  • [10:08] It's important to get pre-approved.
  • [10:50] Sometimes you can get seller financing at 6 or 7%. This is better than hard money lending at 14%. Look for a local investment group to find these lenders.
  • [12:05] There are also ways to use your self-directed IRA. Check fees before getting locked into a company.
  • [12:54] A lot of first-time buyers are getting multi-unit properties.
  • [13:37] Elysia is a fan of the Florida market. Other great investment options are St Louis Missouri, Dallas, Houston, Oklahoma, and Tennessee.
  • [14:29] Lower price is lower risk. Expensive properties can require a lot of money to risk to make the same cash flow. Also be aware of state laws and taxes.
  • [15:49] Consider your exit plan also.
  • [16:23] Try to get at least an 8% return but shoot for 14%.
  • [17:59] Elysia's book How to Get Approved for the Best Mortgage is for first-time home buyers but she's also working on a book for investors.
  • [18:40] The book can help you approach the Lending situation with educated questions.
  • [19:58] First time home buyers are currently getting priced out of the market.

Links and Resources:

Loral’s Real Money Talks Podcast

May 9, 2019

What does the co-founder of Oculus and the co-founder of Priceline have in common? They have both attended an event by today’s guest Eliance founder David Cogan. David is a serial entrepreneur who, even though he has an MBA, says that he knows more about making money than he does about math.

He also understands the importance of getting the right people together and putting the right systems into place to create a cash machine. He is here today to talk about his community for entrepreneurs of all sectors to help each other build better businesses and a better world.

You can find David here:

Ask Loral
David Cogan on LinkedIn
Eliances
Loral Langemeier Interview

Show Notes:

  • [01:46]  David comes from Chicago where he worked for IBM. Then he moved to Atlanta and had an amazing experience working there.
  • [02:12] He didn't work for Arthur Andersen which paved the way for his success.
  • [02:35] His MBA was actually funded by IBM.
  • [03:28] David started a number of companies, he always had a passion for electronics. He started an online company that sold mid-range speakers.
  • [04:17] His product was featured in a magazine. Next thing you know, things blasted off.
  • [05:07] David is so passionate about startups and businesses.
  • [05:27] Seeing other people be happy with what you're providing is the key to success.
  • [05:58] Eliances is a community of entrepreneurs. The group is by invite only. You have a room full of people who are passionate about what they do.
  • [06:59] It's really about what the community can provide to others.
  • [08:20] Got, give, get. It's the Eliance 3G philosophy.
  • [09:40] This is where relationships are developed and business deals get paid.
  • [11:07] The founder of Dippin Dots is actually working with other Eliance members to form a new product.
  • [12:01] They have over 30 Eliance members who sit on bank boards.
  • [12:49] It's like the Disneyland for entrepreneurs.
  • [13:20] When starting a company, you are doing everything. There are a lot of challenges. You have to move forward and build processes along the way. You need to have a revenue model, because it won't last without that.
  • [17:04] David called one of his customers who gave him a no and asked him why. It was a non-threatening call that gave the people an out, but he cleaned so much information.
  • [18:29] Understand why things aren't working and fix them.
  • [18:57] Take notes and be capture every word.
  • [20:47] Everything is going to be more expensive than you thought it would be. Be resourceful. Your price will always be the wrong price. Feel out the market and adjust and be flexible.
  • [22:09] Be able to shift. Always be open. Anything you are going through, someone else has also gone through it.
  • [23:58] Everyone is human, and we all feel the same emotions.

Links and Resources:

May 2, 2019

This is a special episode where Loral Langemeier  gets interviewed by Alexander of Measurable Genius. Loral is known as The Millionaire Maker, she is the author of five New York Times bestselling books and she has written 42 total. She teaches people how to make money. She walks the walk, because she is a self made woman who grew up on a farm in Nebraska.

She always thought that she thought differently, and things started to fall into place when she discovered Think and Grow Rich. This was her first pivotal book about the possibility of getting rich. It was a conversation that made sense to her. She was tired of hanging out with the people who were doing things the old way.

She was never excited about having a job, and she never wanted to be that person. Today, Loral shares her journey and how she started it. Alexander and Loral talk about the importance of pivoting, having the right belief systems, learning, finding mentors, and the power of confidence in this eye opening interview.

You can find Loral here:

Ask Loral

Show Notes

  • [02:01] Loral was a personal trainer and aerobics instructor working her way through college. She raised her rates. Then she got certified after someone asked her about it.
  • [03:27] She majored in finance and then got a masters degree in physiology. She worked at a bank, and noticed there wasn't a fitness center. They gave her 20 Grand to build a corporate fitness center. She became an expert at helping building corporate fitness centers.
  • [04:52] She saw a need and just kept giving.
  • [05:19] Powered people work with what's real right now.
  • [08:05] As a kid Loral was pushed. She still has the school record in 440. She learned to take on challenges and succeed. She played five instruments. In college, fitness was her thing. The finance degree help with corporate fitness.
  • [10:26] Most people set goals that aren't achievable and then go and try to live someone life. Achieve and win your goals.
  • [12:31] Loral seeks help and finds mentor. She found Bob Proctor when she was 20.
  • [14:13] The fastest way to learn is to get close to the person that you want to be like. Focused and uninterrupted builds the best support.
  • [15:47] A lot of people spend time on low priority bullshit. It's a never ending value spiral.
  • [19:20] How to escape from being ran by your business. Investing is critical. It provides a path to cash control.
  • [20:34] Companies make money. Operate out of an entity. Incorporate properly and maximize taxes.
  • [21:39] Sometimes people hire who they can afford as opposed to who they need.
  • [25:21] It's important to communicate to entrepreneurs that I'm facilitating your experimentation without the context, of your business, product, brands, and personalty.
  • [27:36] Get clear and responsible about what your goals are.
  • [28:25] People have a fantasy about entrepreneur. The minute a business owner is done serving, entropy takes over. There is a function in the universe if you care.
  • [29:55] You have to put in the work.
  • [30:11] Everyone who is successful all has bad things said about them and challenges. Even the most successful people.
  • [32:47] I lived in great places and then started investing. Then I lived in Manhattan Beach. I invested where I wanted and lived where I wanted.
  • [33:59] Businesses grow the most when you hire people to do what you don't want to.
  • [34:32] Loral loves selling, teaching, and marketing.
  • [35:44] We can only focus on three things. Be accountable to what is important. Spend time in higher level thinking.
  • [37:05] Traveling and visiting different cultures widens your perspecitive.
  • [37:32] Trust yourself. Whatever it is you create it.

Links and Resources:

Apr 25, 2019

Most people dread tax day, especially those that aren’t prepared and don’t have a plan. If you plan your business and your income correctly using business entities like LLCs, or S Corps, you not only can deduct many operating expenses, but you can even file an extension which lessens that time pressure and gives you an opportunity to step away from the herd.

The only catch is that to be effective and in compliance with legal regulations, you have to do some strategic work up front. First thing is you have to decide what your business and investment goals are and find the right combination of legal entities and where you want to do business. Then you need to make sure that you are in compliance in case you ever have an audit or legal issue. We are here to talk about all of this and offer some options in getting the legal stuff done right.

Disclaimer: We are not lawyers, CPAs, or licensed financial planners.

You can find Scott here:

Ask Loral
(775) 588-9200

Show Notes

  • [03:31]  We are now moving into the next era of money. The current old system was formed in 1933.
  • [04:07] We are going to talk about being a company with the legal right to make money and take advantage of 81,000 pages of deductions.
  • [04:16] We are talking about how to live inside corporate life. We are going to walk through the absolute need for corporate compliance.
  • [04:41] If you don't have a company, you need to decide which type of company you should have and which state you should be in.
  • [04:55] You also need to know how to use the deductions and keep your corporate compliance up in case you are audited.
  • [06:00] We are also going to talk about income, assets, and the choices you need to make to invest off of Wall Street.
  • [08:01] You shouldn't be doing your taxes yourself. You need a tax strategist.
  • [08:45] Loral has a Wealth Cycle product that gives you the basics. You need to find a business to put your taxes in order.
  • [10:14] If you are using an S Corp. The expenses are deducted from the S Corp before you distribute the money to yourself on your personal return.
  • [11:35] Do it yourself without proper guidance is costly when it comes to fixing the mistakes.
  • [13:08] Sometimes you should move to a different state. It depends on where you want to live and how you want to be taxed.
  • [14:43] Your investments should drive the decision on where some of your corporate structure is.
  • [16:07] Do paperwork or be poor. You need to be in compliance with your corporate structure and your deductions.
  • [17:04] A corporation can do anything you want it to do but think and speak for itself. Minutes and resolutions is how your company speaks. You need to treat it as a separate company.
  • [18:31] There are required formalities. There are about 165 minutes and resolutions that need to be kept as a company.
  • [20:09] Minutes are the voice and thought process why decisions are made. A lot of things need to be documented and recorded.
  • [22:15] You need a calendar for 30 days before things are due. Once you put an entity in the air don't take it down.
  • [25:29] The biggest gap is because people don't know they end up doing nothing.
  • [28:15] What do you want and what are you going to have and how are you going to plan your legacy? Create things properly from the beginning.
  • [29:46] You can reconstruct minutes and resolutions by recollection, but you can't back date them.
  • [32:42] Corporate records need minutes and resolutions and ownership certifications. It's imperative to keep up on these minutes and resolutions.
  • [34:38] You type in everything that you have done to create a resolution. Loral has a software product for this.
  • [36:13] You may need diversification and multiple entity structures. Lay out everything and then start growing into it.
  • [40:00] You can have an entity within a trust and move generational money.
  • [46:29] We offer an interactive business guide that will help you document your entities and give you that peace of mind.

Links and Resources:

Loral’s Real Money Talks

Apr 18, 2019

A topic that comes up over and over when we are doing business is Canada. My husband is Canadian. There are a lot of Canadians that want to do business with us here in the US. Here to talk about doing business with Canada is Dave Hare who is a licensed CPA both in the US and Canada.

Dave is a cross-border CPA. He has done corporate business both in the US and Canada. Then he decided to leave the corporate world behind and venture out on his own. He owns 5 multi unit properties and is a successful real estate investor. He recently signed a 5 million dollar deal. Dave talks about the differences between US and Canadian tax entities and cross border investing to maximize your money.

You can find Dave here:

DHare77@gmail.com

Show Notes

  • [01:24] Dave got his degree in Michigan. Then he worked for several years for public accounting firms. After he became a CPA, he went over to the Canadian side and work for companies like Caterpillar and Volkswagen.
  • [02:01] Eventually, Dave decided to branch out on his own and do his own thing instead of working for corporations.
  • [02:18] Dave approached Loral about investing in real estate about a year and a half ago. He signed up for the big table. Now he has five multi unit properties.
  • [03:10] Dave learned how to raise money through Loral, and he became pretty good at it.
  • [03:26] Dave became part of Loral's team in September. Dave drove 37 hours to get to Tahoe and begin working with Loral.
  • [03:47] They have been working on some solid deals including the marina deal and major renovations. He also recently signed a $50 million contract.
  • [04:31] Dave surrounded himself with the right people and the right team. Build a diverse team that will provide you the expertise you need.
  • [05:09] It's tough to find it's cross-border team members.
  • [05:21] Three business structures that apply in Canada are partnerships, limited companies, and sole proprietors.
  • [05:50] Partnerships are where you join with someone to set up a business. You will have a partnership return. Each partner does their own taxes. The tax write offs go to your personal tax returns. Any money you make on the partnership returns go straight to your taxes.
  • [06:20] You have to be careful because of liability issues and tax issues.
  • [06:36] Sole proprietorship's in Canada give you write offs towards your T4 income. This is a great tax strategy from that standpoint.
  • [07:57] You want to make sure you protect your personal assets like your house and your vehicle. You have to be careful with liability issues with a sole venture.
  • [08:55] As a sole proprietor, you may be able to write off 10 to 20% of your house if its use for your business. If you use more than that you might be able to use it as a carryover.
  • [10:12] With the company, the carry forward losses can be used now and in the future.
  • [10:29] If you have T4 income and you start making more money your taxes will be high, so you might want to look at other entities at that point.
  • [11:12] You might want to move into a limited company. You will have more flexibility on write offs.
  • [12:04] If you work from your house, your business will take a 10 to 20% of your house expenses.
  • [13:05] In Canada, you can now write off entertainment expenses if you take out the entire office. You can now write off 50%.
  • [13:56] For business driving, you can use electronic tracking and write that off. You need to be very careful about your record keeping and the rules.
  • [14:36] As a sole proprietor, everything is questioned.
  • [15:05] The benefits of setting up an entity in getting Incorporated. Set up a limited liability company to protect your assets. You will also have more right off opportunities. You can also protect yourself by having an operating agreement or contract.
  • [16:23] If you have a company in Canada, you can also set up a US structure like a c corp.
  • [18:55] Be careful of withholding taxes when setting up entities for businesses that are cross-border.
  • [19:59] Make sure you set things up right from the beginning.
  • [20:21] You can avoid exchange rates by keeping your money someplace where the tax rates are lowest like the US and then using a US credit card.
  • [22:42] To talk to Dave,you need to think about trusts, whether you have children involved, whether you can send money down to the US, and possible insurance products. The plan needs to be individually tailored to you.

Links and Resources:

Mar 21, 2019

David Werba is a blockchain developer who has advised and co-founded several blockchain startups. He is a blockchain and crypto expert who also has experience in the trading world. On this episode, we talk about what a golden cross and death cross is and how it can help affect your decision on when to enter and exit a market.

David breaks down some of the ins and outs of crypto and blockchain including his favorite DPOS chains, advantages of investing in crypto, how to monetize every part of your life with crypto, common mistakes investors make, and how to safely hold your coins and tokens.

You can find David here:

Ask Loral

Show Notes

  • [01:41] The death cross is when the 50-day moving average passes and crosses the 200-day moving average on the downside. This usually sparks the official beginning of a bear market.
  • [02:02] This is what happened at the beginning of 2018 with Bitcoin.
  • [02:17] The golden cross is when the 50-day moving average crosses the 200-day moving average to the upside.
  • [02:33] We are getting pretty close to that moment. There are some alt coins that are about to cross right now. With Bitcoin, it should happen in the next two to three months.
  • [03:01] A lot of professional traders wait for this moment before they put the big money in.
  • [03:17] They short at the death cross and go long at the golden cross.
  • [03:44] Nobody knows when the exact best time to enter the market is.
  • [04:01] David has been working in this industry every day for the past few years. Prior to that, he was a stock and Forex analyst.
  • [04:25] David feels that we are at a price right now where it would be safe to start laddering into the crypto market.
  • [04:49] Usually once the market hits the golden cross, it comes back down, in his opinion, this is the best time to buy.
  • [06:08] Once the bull market starts it's hard to pick a loser with the hundreds of coins.
  • [06:39] David is a fan of Delegated Proof of Stake (DPOS) chains suck as Lisk, EOS, Steem, BitShares, and Ark. The goal of these is scalability by speeding up transactions and block creation without compromising decentralization.
  • [07:14] You could use dividends or staking rewards. This increases your shares by just holding your balance.
  • [08:30] A lot of startups offer monthly bonuses. You earn rewards by holding the coin. With others you get stake in rewards by holding it.
  • [09:10] With the music tokens the streaming is considered the mining.
  • [11:29] David uses whaleshares, because you make money in the process of blogging or using the platform. It's a return on your time. The most exciting part of blockchain in general is the removal of unnecessary middlemen and how it makes monetizing every part of your daily life possible.
  • [13:19] There are different wallets for different coins. It's recommended to hold your coins in the wallet of the native coin. Once buying on the exchange, transfer your BitShares into your BitShare wallet.
  • [15:04] With your own wallets, you are the only one who has the keys, just make sure you don't lose them.
  • [15:48] David's exit strategy after the bull market. The entry and the exit are the most important periods. Don't try to pick one point. Ladder out the same way you ladder in.
  • [18:12] The majority of crypto traders lose money. Without research, people will put all their money in when it goes up a little bit and then if it drops they'll sell before making any profit.
  • [19:28] Do your research don't go off the buzz in the media.
  • [20:27] David is not that high on Ethereum. He prefers EOS.
  • [22:57] Do your research. Golden cross moments are rare.

Links and Resources:

Mar 14, 2019

Have you been searching for that one thing that is your unique gift to share with the world? Have you ever felt trapped or like you are not living to your fullest potential? Steve Olsher is a serial entrepreneur. He is the man behind New Media Summit, a podcaster, and the author of What is Your WHAT?

In this episode, steve takes us through the What is your WHAT framework and explains what it is. We talk about finding your WHAT, discovering what do you want versus what do you need, and the four paths that most people are on. Steve is a reinvention expert and has helped people and corporations become exceptionally clear on their WHAT. This episode is for anyone who has been wondering if they are on the right path or just want more clarity of purpose.

You can find Steve here:

Ask Loral

Show Notes

  • [02:08] Steve has always been wired as an entrepreneur. When he was a kid, he got paid to rake leaves. His first true entrepreneurial venture was opening a non-alcoholic nightclub when he was 19 years old.
  • [02:41] He then moved on to online business including liquor.com and real estate development.
  • [02:58] He has also been speaking, writing, coaching, and podcasting. He also has the New Media Summit live event.
  • [03:59] Steve's favorite entrepreneurial life was whatever he was working on at the time.
  • [04:45] It's important to understand how we actually excel and what puts fire into our soul. Steve has been the first author to create the What is your WHAT framework.
  • [05:40] Being able to answer that core question of, 'What is your WHAT?' is what's going to separate those who meander through life from those who really wake up with a fire in their soul.
  • [06:16] Steve has always been in a continual state of reinvention. At one point, he wondered if he was missing something. He created what he thinks is a simple framework to help people get to those answers.
  • [07:12] In 2009, Steve started what he called a reinvention workshop. It became clear that getting to the core answer of what is your gift and identifying the primary vehicle that you could use to share that gift would create success.
  • [08:22] Then you have to ask who are the people that you are most compelled to serve. Identifying your gift, your vehicle, and your people helps you hit the ground running.
  • [08:52] You can get started that same day by leveraging your gift using your primary vehicle with those people. It's a simple framework that boils down to understanding these three things.
  • [10:01] The why versus the what. The why is external. Your WHAT is internal. It reflects how you are naturally wired to excel. You can choose your why, you can't choose your WHAT.
  • [11:25] There are a lot of hours in the day. Find a small amount of time to work towards your WHAT. Think about creating an offering so you get paid for your WHAT.
  • [13:39] So many people spend their time the same way they spend their money as opposed to investing their time or investing their money.
  • [13:52] Think about what you actually want.
  • [15:02] The four paths. We all identify on one of these paths. A birther knows what they will be doing their entire life. The shifter has to make a subtle shift to the What is your WHAT equation. The reinventors need to do something 100% different. The wanderer wanders through life without clarity about what their WHAT is.
  • [18:36] Sometimes it's just a matter of getting started with something that's different from what you are doing now.
  • [21:00] Start a time journal and find some hours in the day to do what you need to do.
  • [22:18] Your life becomes a reflection of the choices you make.
  • [22:37] During the reinvention workshop Steve takes people through the what is WHAT discovery process.
  • [24:05] You are the solution to someone's problem. It's our obligation to do what we can do to reach them.

Links and Resources:

Mar 7, 2019

Eric DelaBarre is a director, writer, producer and NY Times Best Selling author. He has worked with iconic movie studios and Dick Wolf on Law & Order. He knows content production from the concept stage to post production. He has extensive experience in book publishing and content creation.

In this episode, Eric shares how he began writing in the movie and television industry. We talk about how he transitioned to writing books, and we talk about the best way to make money writing books. Eric shares marketing tips and the importance of writing a killer book. Along with why you want to own your copyright.

You can find Eric here:

Ask Loral
Saltwater Taffy
@EricDelaBarre on Twitter
Eric DelaBarre on Facebook
Eric DelaBarre on Instagram

Show Notes

  • [01:37] Writing is the execution of a thought and being able to download your thoughts and put them into a sentence structure.
  • [02:42] Eric became a writer in college. He didn't take his first English class until he was a junior. He left college early to work with Dick Wolf who was one of the greatest television producers and writers of all time.
  • [02:51] Learning how to write for television and arcs and beats and how to extrapolate a story is very difficult.
  • [03:36] Writing for television is a great way to have multiple streams of income.
  • [05:12] Writing a movie script can be very lucrative.
  • [06:40] People always go to movies even when the economy dips.
  • [07:33] The best way to make money selling books.
  • [08:15] The best way to make money in the book business is to write a killer book.
  • [08:41] Eric wrote a book for kids called Saltwater Taffy.
  • [09:08] It's also hard to get an agent these days.
  • [09:26] There has to be an overall narrative to the story of a book even a nonfiction book.
  • [10:39] Chicken Soup for the Soul was turned down 140 times.
  • [11:30] Writing is about 10% of the job the other 90% is marketing. You have to have a plan to roll things out.
  • [13:19] Eric got turned down by every publisher and distributor in town for his book Saltwater Taffy. He sent out a killer package that included a marketing plan and got a call from what is now Ingram Content Group.
  • [14:02] You need to take a step back and ask what makes your book special.
  • [15:09] Everybody wants to sell their book to a publisher. Now the channels of distribution are wide open.
  • [16:03] With a traditional publisher the advance is usually all the money you will ever see.
  • [16:58] If your book doesn't jump off the shelf, it gets pulled from bookstores.
  • [17:40] The best way is to own your copyright and your intellectual property. You need to own the title.
  • [20:26] Celebrities have a lot of books coming out right now. Being famous makes the marketing much easier. They use a cross-marketing strategy.
  • [24:25] Online marketing ninja tricks. Eric made a bookmark for Saltwater Taffy. He gave these out when he spoke, and he gave them away online.
  • [26:33] Sell a million books to one company. You have to be smart.

Links and Resources:

Feb 28, 2019

I recently held my A New Year A New You webinar which was designed to help you end 2018 right and set up 2019 for success. This is part 3 or the webinar where I talk to crypto and blockchain experts Walt and Dave. These guys have made a fortune developing their own cryptocurrency and investing in existing coins.

They know everything about crypto from starting a coin, to investing, to all of the legal and compliance issues. They will be my expert advisor on an upcoming crypto series that we’re presenting. In this episode, we talk about everything crypto from how to get started, to the difference between digital currency and blockchain, and everything in between.

You can find Loral here:

Ask Loral

Show Notes

  • [01:03] In 1913, The Federal Reserve was founded to build a more stable and secure financial system.
  • [01:49] By the 1970s, the US dollar was no longer backed by physical gold.
  • [02:10] By printing money, the supply of the u.s. dollar is infinite, but the purchasing power goes down.
  • [03:02] Walt is part of the Off Wall Street show. Walt is one of the first experts with a system on how to get your account right.
  • [03:47] We are planning a six-week webinar with Walt and David. It's going to be heavy on content. We will help you set up your account and your wallet and make sure that it is secure.
  • [04:09] You will learn in 6 weeks what it took Walt & David a decade to learn.
  • [05:36] The challenge with learning about a massive new paradigm is time. It would take you years to learn to keep points that we are going to talk about.
  • [06:12] I tracked cryptocurrency everyday. I wanted to go deeper and deeper to really understand it at the fundamental level, so that I could incorporate it into my own business.
  • [06:20] We are going to cover the basics, and then we are going to talk how to build new things.
  • [06:46] By the end of things we will even teach you how to tokenize your own business.
  • [07:10] Our fast track information will save you over a year of research.
  • [07:27] We have navigated through compliance and so much more. The cryptocurrency world is the future.
  • [08:46] Different coins have different value just like different exchanges from all around the world. Digital currency will level the playing field.
  • [09:23] It will level the playing field in the international exchange rate.
  • [09:44] The digital market is tracked with the blockchain. Crypto can also alleviate exchange fees.
  • [10:31] Blockchain is about efficiency and the removal of fraud. It also removes unnecessary middlemen.
  • [11:36] Cryptocurrency is a new asset class. If you wanted to compare it to the stock market, you would have to go back to the first 10 years of the stock market.
  • [12:04] There are optimal periods to move your assets in and out of crypto. It doesn't mirror the market or even real estate.
  • [13:03] To get started dig into podcasts and start going to workshops and figure stuff out.
  • [14:05] How do you vet a new coin? Look at the team and if the project is already built. Don't invest in a plan on a napkin.
  • [15:13] Things are more structured now, and there is more regulation. There are also more projects that people can create with blockchain technology.
  • [16:24] Our team will help you integrate your own tax system with lawyers and entities.
  • [21:07] It's legal to own, buy and sell cryptocurrency.
  • [21:39] It's also exciting to tokenize a business.
  • [23:10] The clients are purely digital and stored in a software wallet that is secure. Physical coins are usually a novelty.
  • [25:17] There is value to the coins. You trade crypto on exchanges. Bitshares is a decentralized exchange.
  • [30:14] Behind the scenes, big players are trying to get their hands on bitcoin and want to control it. Right now, there is opportunity out there.
  • [34:06] There are gambling sites built on EOS where you can get daily dividends based on revenue.
  • [35:21] Once coins are mined out, and there is no more supply, they will continue to rise in value.

Links and Resources:

Feb 21, 2019

This is part two of the New Year New You Webinar where Loral kicks off the new year with a new brand. In this part, Loral talks about how millionaires think about debt and money differently.

She talks about the advantages of having write-offs, how debt can be used strategically, how to invest with OPM or other people’s money, and choosing freedom over retirement. We also meet Walt and David who will be talking about crypto and blockchain.

You can find Loral here:

Ask Loral
Books by Loral

Show Notes

  • [00:40] People have no idea how millionaires live. Your car and your computer are deductible. We used debt as leverage. OPM is other people's money to invest in business.
  • [01:05] We use the money and make money on money. We pay down credit-card debt strategically. We don't retire, we choose freedom.
  • [01:21] What is your freedom day number? Is it 20,000 a month? Is it a hundred thousand a month?
  • [01:55] This is Loral's 22nd year in the financial education space. She buys and sells businesses like a shark. Her team brokers businesses.
  • [02:52] Real estate needs to be structured right. It needs to be in an LLC or a trust and have a management company.
  • [03:18] If you like to go wine tasting, you can incorporate and write off all of your wine travel and expenditures.
  • [04:24] You have hobbies that could be businesses, but you don't run them like a business and you don't get the deductions.
  • [04:29] Loral and the team have revamped the way they are going to work with people to help them get the best out of life.
  • [04:52] We're also going to have a blockchain, crypto, and cannabis workshop with leaders from all over the world.
  • [05:32] There are tons of loan and grant opportunities for veterans. They have access to grants that can get up to $250,000. The problem is a lot of them don't know how to run a business.
  • [06:46] Our goal this year is to work very closely with veterans and help them buy greenhouses. Greenhouses aren't considered cannabis, they are considered real estate.
  • [08:30] These principles apply everywhere in the world including Canada.
  • [10:49] When you're not integrated, you have to go out and try to find each individual team member that you need to deal with. Then you are hoping that everything somehow comes together.
  • [12:02] Our goal with helping you integrate your team is to just use the team that I've found which has taken 20 years to perfect.
  • [12:27] There are eight areas of your life that you need to focus on money, personal development and career, health, spirituality, family, fun, friends, and physical environment.
  • [13:53] Pick only a few to focus on and evaluate, so you can discover what you need to do to get you where you need to go.
  • [14:21] Stop hanging out with people who don't have the same goals as you. Stop complaining and telling stories about 20 years ago.  Stop spending without learning about money.
  • [14:42] Masterminding and coaching can help you with these things.
  • [15:04] Look at the areas and then consider a start, stop, and continue for each area.
  • [17:06] Pick the one or two top areas that you are going to focus on this year. Discover your A, B, and C goals in each category. A goals are the non-negotiable ones.
  • [20:11] What did you accomplish? What do you want? It's all about income and assets. Making money and investing money are the number one ways to become a millionaire.
  • [24:37] Tax reform 2018 was a game-changer. If you understand the strategies around corporations, trusts and investing the chances of you becoming a millionaire in 3 to 5 years is very high.
  • [27:20] David and Walt are here to talk about crypto.
  • [27:57] David started dabbling in crypto in 2013. He then dug into blockchain which is the technology underneath cryptocurrency.
  • [29:14] He then started working on a music coin. This coin utilizes a smart contract system where every time a song is played the artist earns cryptocurrency.
  • [30:06] David and Walt also started tokenizing a business that Walt started.
  • [30:19] Walt was so excited about the whole crypto revolution that is about to blossom into a giant industry.
  • [31:33] Walt has a talent token coin. Most corporations are moving towards blockchain.

Links and Resources:

Feb 14, 2019

This is part one of the New Year New You Webinar where I kick off my new year with a new brand. Brian asks the audience questions like what goals are they trying to accomplish this year, so the team and I can understand how to best help. The feedback helps us make the event as worthwhile as possible. This call is about how my team can help you, but you need to make the commitment.

How many times have you made the same resolution year after year? Today is about finishing 2018 off right and kicking off 2019 in a way that gets results. I talk about opportunities like digital currency, blockchain, cannabis, and crypto and how more generational wealth has changed in the last 20 months than ever before in history.

You can find Loral here:

Ask Loral

Books by Loral

Show Notes

  • [01:30] What goals are you trying to accomplish this year?
  • [01:46] Some answers include double income, more time, more time painting, more involved in investing, developing passive income, developing cannabis money, growing my business, and more.
  • [02:42] Loral is a five time New York Times bestselling author. She has done wonders for people and their finances.
  • [03:44] A lot of people have the same goals year after year and never really get the shift.
  • [03:58] How many years have you said you were going to make more money or lose weight?
  • [04:19] Digital currency will change our financial structure around the world.
  • [04:28] I talk the BCC or the blockchain, crypto, and cannabis Industries.
  • [05:04] Loral has partners in the cannabis space.
  • [06:04] The team can do a lot for you, but you have to make the commitment.
  • [06:42] What we're taught about creating wealth is completely wrong. We are going to talk about completely different ways to create wealth.
  • [07:22] We left the brand Live Out Loud behind in 2018.
  • [08:01] We'll be using are apps this year.
  • [08:22] It's tough to market BCC things like cannabis and crypto when you can't use Facebook and the internet.
  • [09:21] Our content isn't changing, we are just getting clear about how we speak about what we do.
  • [10:15] We are going to be the integrated facilitators to help you form your team and to let you use our team. The academy is there to guide you.
  • [11:07] Big Table members will still be table members plus bonuses.
  • [13:32] A lot of the last Ask Loral was about completing 2018. We put all of our products on sale so that you could treat yourself for the holiday.
  • [15:36] We have added a lot of team members.
  • [16:59] Commitments aren't negotiable. Commitments get results. How you get to the results is negotiable.
  • [17:53] Most resolutions fail in about 10 days. It's time to get motivated and get serious.
  • [18:44] It's time to pay to properly learn about money. Financially you fail, because your sequencing isn't right.
  • [19:31] It's important to get incorporated right away. The timing of how you spend your money and how you make it is so critical.
  • [21:33] I'm challenging you to commit to nail two things this year. I hope money is one of them.
  • [22:26] Shifting your physical environment can change your monitor environment.
  • [22:55] We're taught to get a job to make money. You are then taxed at the highest rate.
  • [23:33] Let us do a 3-year tax review. Our average client gets around $40,000 back.
  • [24:24] One of the problems with this method is that things aren't deductible. You also think that debt and credit cards are bad.
  • [26:20] Retirement has nothing to do with having financial freedom.
  • [26:57] You don't want to get left behind with where we are going financially.
  • [27:23] Employees have been making companies rich for a while.
  • [27:46] The whole system was created in 1933 on Jekyll Island.
  • [28:24] The education system taught people how to specialize to be a worker.
  • [28:46] You can money away tax-free in a Solo IRA. Then you can also have a Roth IRA.
  • [29:53] Don't go on vacations go on business trips.

Links and Resources:

Jan 31, 2019

You make financial decisions everyday of your life. When it comes to lifetime financial planning and investing, choosing the right financial advisor is important. People at anypoint in their financial lives can start educating themselves and making sure they have a cushion in the bank.

More advanced investors will need an advisor to help them make key decisions and take the emotion out of their financial decisions. My guest, Lorraine Ell is here to talk about what you need to know before choosing an advisor to help make your lifetime financial plan.

You can find Lorraine here:

Ask Loral
Better Financial Decisions
Better Money Decisions
Seven Warning Signs You Are Working With the Wrong Advisor
Lorraine Ell on LinkedIn
@lorraineell on Twitter
Bozos, Monsters and Whiz-Bangs

Show Notes

  • [00:58] Lorraine just got back from working in Saudi Arabia and had cash in a bag.
  • [01:26] She also answered an ad in the paper for a financial advisor, and it turned out to be an odd coincidence.
  • [01:50] Lorraine is the author of Bozos, Monsters and Whiz-Bangs. This is what she calls really bad advisers. She wrote the book because she was frustrated by hearing the horror stories of people who had come to her for help.
  • [02:31] Her book is full of antidotes and real true life stories.
  • [03:06] Most financial advisors advise clients to invest in stocks and bonds and high-tax and high-fee investments.
  • [04:14] People need to be coached and guided through financial decisions that they make throughout their lives.
  • [04:55] You can't always be sure that you're getting good advice from any old advisor.
  • [05:40] There are a lot of things you have to look out for because a lot of advice out there isn't beneficial for people.
  • [05:56] Lorraine's firm tries to give value to people's lives.
  • [06:13] Lorraine has a program called Financial Wellness for life. It's a holistic many management oversight program. They think of themselves as more of coaches and guides than investors.
  • [07:13] You can't invest if you don't know what you want the money to do for you.
  • [08:29] Big mistakes people make our lack of planning and lack of generational planning.
  • [08:52] The death of a spouse or partner can create huge money problems if both partners aren't involved in the finances in the beginning.
  • [09:20] People need to organize things for their lives and for their heirs.
  • [10:09] Marriage and money problems can create serious problems.
  • [10:33] Everything in life is touched by money and the decisions that we make around money.
  • [11:38] People don't realize that when they try to do their finances themselves that their emotions get in the way.
  • [12:54] Coaches and guides can help prevent actions caused by financial panic.
  • [14:08] Before investing they do a financial analysis and create a roadmap and then start working on investments.
  • [14:48] You need to understand what the people want the money to do before making a plan.
  • [15:09] Every year everything is revisited. They work on cash flow planning, estate Planning, and end-of-life planning.
  • [15:51] People who are just starting out still need basic guidance.
  • [16:21] Take the time to educate yourself and start saving something. Get an emergency fund with 6 months worth of expenses in the bank.
  • [17:33] Lorraine handles the more conservative parts of the portfolio.
  • [18:06] They also have accounts for kids from babies to early adults.

Links and Resources:

Loral’s Real Money Talks

Jan 24, 2019

John Ferguson has been involved in sales for the last 18 years. He started out selling real estate and soon realized that he needed a system for high-ticket items. He spent two years immersing himself in the world of sales and created a system that can be replicated over and over.

In this episode, we talk about who this system is for and how sales are the root of the success of a business. John talks about knowing your audience and your message and why it is important to qualify leads. He gives several sales tips and information about setting up a team and system. He even shares his favorite headset that he has used to close countless sales.

You can find John here:

Ask Loral
John Ferguson on Instagram
John Ferguson on Facebook

Show Notes

  • [01:29] When John first started out, he began investing in real estate. He soon realized that he didn't have the proper system in place for high ticket sales.
  • [02:18] He began a two-year personal development quest. He started learning the ins-and-outs of sales, speaking, network marketing, and high ticket sales over the telephone.
  • [02:37] It's been a phenomenal whirlwind over the last 18 years helping influencers including himself in the business of high ticket sales over the telephone.
  • [03:13] We all know that we have to sell and enroll new clients in our business or we won't make any money.
  • [03:47] John helps people develop a system from marketing to product to sales team that makes sense for them.
  • [04:38] Your sales team needs to match your product in your company. You can't scale without doing this.
  • [05:02] John has helped MLM companies and influencers and coaches in the real estate and fitness industry. He has even helped medical practitioners.
  • [05:35] John service is for the person or business who wants to take their sales to the next level.
  • [06:43] It's easiest to teach people who are new to sales. Then you can start at the beginning.
  • [08:01] Blue Parrot VXi 450 is the headset John recommends.
  • [10:38] Know your message, and know your audience are the next two steps. You also want to qualify the lead coming into your system.
  • [11:20] You have to establish rules in order to have long-term success.
  • [11:36] You'll have to ask broad-based, intermediate, and pointed questions to know if this prospect is qualified.
  • [12:05] The sales process comes after the lead is qualified.
  • [12:23] A setup call can create an opportunity for the closer to make the deal.
  • [14:28] The pros of being your own sales closer is that you don't have to share the revenue. It can look odd to be the presenter and the closer.
  • [16:48] You actually want to get the customer to chase you.
  • [17:15] Having a sales team creates dedicated people focusing on sales, and you can focus on other things that are more important.
  • [18:52] Design your script in a way that speaks to the audience, but make sure you have specific points engineered in.
  • [19:42] You should have a script on every single call. Every single call is the same and different. Same sales and different person.
  • [20:25] Help people get out of the way to get the services they need. You can connect with their personality type.
  • [21:28] Great sales people find ways to eliminate objections before they are.
  • [22:06] Ask the right questions in the right order to enroll people.
  • [24:01] Turn objections into expectations.
  • [25:08] To get your sales people motivated by sales, they need to earn commissions.
  • [28:49] You can follow John on Instagram and Facebook.

Links and Resources:

Jan 17, 2019

This episode is turned upside down as Brian K. Wright from Success Profiles interviews Loral. Loral shares the industries that first made her a millionaire and how she is excited for today’s new opportunities like cannabis and crypto.

Loral talks about the importance of marketing your books and what it takes to become a bestselling author. She also gives us a quick glimpse into her upcoming book. Loral talks about mindset, understanding money, and having the right team in place.

You can find Justin here:

Ask Loral

Show Notes

  • [03:49] Loral is a five-time New York Times bestselling author. Her new book The Green Rush Millionaires will be coming out next year.
  • [04:17] She is heavily into the cannabis, CBD oil, and health space. She first became a millionaire in the gas and oil and real estate spaces.
  • [04:31] Getting a job and just saving will only keep you small and stuck.
  • [04:46] Companies make money and individuals get taxed. If you're serious about keeping your money, get Incorporated.
  • [05:37] Her cannabis business has 23 acres in Cathedral City and 32 acres in Hawthorne Nevada. They have nine licenses and are putting green houses up right now.
  • [06:10] These are exciting times to be alive, get wealthy, and a write books about it.
  • [06:39] Debt for wealthy people is one of the biggest tools we use. Debt is just the cost of money.
  • [07:22] Most people don't know how to invest. Why would you pay off debt when it is cheap. Instead of being scared about money get educated about it.
  • [08:11] People are scared of money because they don't understand it.
  • [09:14] Take some time and play the Millionaire Maker game and learn to understand money. Understand how it can work for you and be a massive benefit in your life.
  • [09:53] The goal to win the game is to become a millionaire.
  • [10:24] On page 194 of The Millionaire Maker book Loral talks about how to handle debt.
  • [10:38] Transition your debt from personal debt to company debt. Use zero interest credit cards. If you can get cheap money, then why pay it off?
  • [12:01] Focus on how to make more money.
  • [12:46] For an author to become a best-seller you have to stage and organize sales, so you can presell your book.
  • [14:00] Loral uses people's input to generate chapters. This encourages them to buy.
  • [15:06] Loral has a launch calendar to nail a bestseller. You have to as involved in the launch and the post launch process. Have a goal in mind.
  • [16:38] Get with someone who knows the process. Involve other people in the content.
  • [17:12] A book is a great brochure.
  • [17:27] You need a team. An accountant that knows marketing.
  • [19:34] Everybody's an author and everybody should have a book. Have a post-launch plan to recover the time you spend on the book and the book launch.
  • [20:08]  Ask, tell, ask. Come up with some different ideas. Write your book collaboratively. Find out what people want to know. Get input from a focus group.
  • [21:50] The faster you talk and are interviewed the more information you get down. You should use a ghost editor that can grammatically sort out what you say and talk your book out.
  • [24:32] Share content and help other people. Don't wait for the perfect book.
  • [26:40] Use CreateSpace and learn how to market yourself.
  • [27:49] Having a high profile VA that could work with you in your office for awhile would be great.
  • [28:53] You need to be a month out and get ahead of yourself. You need to organize yourself to use them right.
  • [29:40] Grow coaching to invest in real estate. Partner with someone who has already done it.
  • [30:25] Get a sales team to help you sell. Partner with people on real estate.
  • [31:53] A business structure forms a book.

Links and Resources:

Jan 10, 2019

We are kicking off 2019 with financial predictions. Will be talking about the stock market, real estate, cannabis, and more. Today, we are talking about cryptocurrency, digital currency, and blockchain. I have two recent partners and world leading experts here today to talk everything crypto, blockchain, and digital currency.

David has a background in blockchain and Musicoin development and Walt has a trading background. Together they talk about what the future has in store for these technologies. They give some tips on learning about investments. They talk about regulation issues and how congress is struggling with new technology and old laws. They also talk about how impactful these technologies will become.

You can find Walt and David here:

Ask Loral

Show Notes

  • [01:57] David started working at home on web development and then really started digging into blockchain in 2013.
  • [02:59] Blockchain technology is going to have a huge impact. He first started working on Musicoin and then another music technology before he met up with Walt.
  • [03:54] David loves the process of building stuff through blockchain and making it work.
  • [04:05] Walt started out trading bitcoin and crypto currencies.
  • [04:42] He started looking into blockchain and brought David into his team.
  • [05:07] They have an amazing way to use an altcoin.
  • [05:34] Blockchain will create the biggest distribution of wealth that the world has probably ever seen.
  • [06:14] More wealth has been moved through bitcoin than any other wealth movement time in our history.
  • [07:02] Coinbase is the largest crypto wallet in the world. They are gaining over a million users a day.
  • [08:56] In the last six months, the price of Bitcoin has started to stabilize.
  • [09:38] Giant transactions happen in the OTC world.
  • [10:43] A lot of private sellers have their coins in cold storage wallets.
  • [11:19] When the market flips it's going to be very difficult to buy cryptocurrencies.
  • [11:42] There is a one-week hold before you can transfer your currency if you are investing through Coinbase.
  • [12:13] Investing in crypto can be a long-term play. That's how the big investors are looking at it.
  • [13:35] Smart folks are working on infrastructure and development during the bear markets.
  • [14:24] January 3rd 2009 the first block was mined on bitcoin.
  • [15:12] Blockchain technology is what is underneath Bitcoin, so the two do go hand-in-hand.
  • [15:48] Industries like banking and payments are getting majorly disrupted right now. Especially in third world countries and places where banking is more difficult.
  • [16:12] Other sectors that are using this technology include voting, healthcare, music, and many more.
  • [16:50] Blockchain opens up technology for entrepreneurs like the world has never seen.
  • [17:13] Almost every entrepreneur and startup is moving towards blockchain technology.
  • [18:02] Companies like IBM are building their own blockchain. Amazon is working on something. Overstock has their own version.
  • [18:36] Investors are interested in anything that is tied to blockchain.
  • [19:49] The smartest and most acting development isn't happening in Bitcoin.
  • [20:35] Altcoins are usually traded against Bitcoin, but there are many many different types of coins.
  • [22:24] When investing in altcoins it's very important to take a look at the project.
  • [23:41] Developed projects that you can actually see may be safer bets.
  • [24:09] There are already specialized blockchain lawyers available. There is some red tape to go through on the development side.
  • [25:12] There's going to be a four-week webinar series with a Q&A. Go to Ask Loral to find out more.
  • [26:08] The SEC is very involved with crypto. The regulatory agencies are trying to take this new paradigm and pull it back with laws established in the thirties and the forties. There are no easy answers. The debate is going on in Congress right now.
  • [27:41] The ICO approach is beginning to get controlled. Especially as it applies to crowdfunding.
  • [28:28] If your token doesn't have a wide use case then you probably shouldn't build it.
  • [29:03] The future of development is going to be investors wanting to see the reality of what you are building.
  • [31:35] If Congress doesn't do the right thing and not over-regulate that will be good, because we don't want to push Innovation overseas.

Links and Resources:

Jan 3, 2019

I have an old friend on the show today. Joel Comm has been a staple in the digital space for a long time. He is the author of 15 books and the co-host of the mega successful Bad Crypto podcast. He is here today to talk about the future of crypto and more.

We discuss how things have evolved in the digital marketing space and Joel’s own evolution including the creation of his crypto podcast. We talk about the benefits of blockchain as a technology that will revolutionize the future. We talk about the importance of getting in on the ground floor of new markets and the importance of always having fun.

You can find Joel here:

Ask Loral
Bad Crypto Podcast
Fun Formula Book

Show Notes

  • [01:49] Joel Comm has been an internet entrepreneur since 1995.
  • [02:11] He has since written 15 books. He has worked in the online marketing space and the affiliate marketing space and the social media space. He has also embraced all forms of online media from blogging to podcasting to videos.
  • [02:24] In 2017, he started dabbling in crypto currency and was absolutely enthralled.
  • [02:39] Joel and his friend Travis Wright would talk about bitcoin and blockchain and everything crypto. They then decided to start a show about it and the Bad Crypto Podcast was created.
  • [02:41] The purpose of the show was to make crypto easy-to-understand for regular people.
  • [02:59] They started in July of 2017 and have had over 7 million downloads.
  • [03:35] You don't do the books and the speaking tours until you've had the success.
  • [03:44] Joel began his digital career trading websites that sold things. One he cracked the code on affiliate marketing and advertising, he started teaching others how to do it.
  • [04:26] He wrote about and spoke about how he was making money.
  • [05:23] We now know that social media companies don't have our best interest at heart and we are actually the product.
  • [05:51] Blockchain is a great solution because it brings transparency back to various activities. It creates a public ledger of activity, but privacy is woven into it.
  • [06:23] Blockchain is either going to lead to new solutions and more freedom and opportunity for us or we're facing a really dystopian Big Brother future.
  • [07:38] Blockchain is really just a fancy database. Blockchain is decentralized, because no one power or authority has power over it.
  • [08:44] Solutions built on blockchain give people the power to invest in projects in a way that they would like.
  • [09:44] In March 2017, Joel started learning about crypto. He and Travis were talking about crypto a lot. 3 months later they started their show.
  • [11:00] Part of it was timing and two regular guys talking about crypto.
  • [12:13] Bitcoin is merely a better form of digital payment. There are many different types of coins and tokens. With ethereum we have the ability to go beyond just payments. We can write smart contracts.
  • [13:06] There are even tokens that empower musicians to be paid more fairly for online downloads.
  • [14:42] Crypto is kind of circa 1997 where the internet was.
  • [16:11] They do four shows a week and two or three are usually interviews. They never make recommendations.
  • [19:44] Joel's fifteenth book is the The Fun Formula: How Curiosity, Risk-Taking, and Serendipity Can Revolutionize How You Work.
  • [20:47] The fun formula helps liberate people from the hustle and grind.

Links and Resources:

Dec 27, 2018

My friend Jay Fiset is back to talk about joint ventures, masterminds, and the advantages of each. Jay has been a businessman and entrepreneur for years. He is also a staple in the personal development space.

Today, Jay talks about how joint ventures can give you leverage and access that you wouldn't normally have. He also talks about how once you have built relationships and influence, you can leverage that to create your own mastermind group. This group can be a resource to take everyone's business to the next level.

You can find Justin here:

Ask Loral

Show Notes

  • [02:09] Jay has been an entrepreneur for 33 years, and he has spent most of his time in the personal transformation space.
  • [02:27] He runs The Creator's Code which has been attended by 40,000 people from all over the world.
  • [02:30] About six or seven years ago he created Mastermind to Millions. He had already been teaching how to have mastermind groups and just made it to the public.
  • [03:43] He has also had real estate and several businesses. He would invest his money elsewhere.
  • [04:28] Jay teaches authors and coaches how to create a mastermind for an additional stream of revenue.
  • [04:38] Masterminds are one of the fastest ways to create income. When done well it gives us access to network resources.
  • [05:00] We can 10x or 15x our access to resources experience and wisdom by masterminding with people who are movers and shakers.
  • [05:24] It's one thing to go to a mastermind, but it's a completely different thing to run one.
  • [05:39] When you create your own little mastermind joint-venture syndicate you can begin to strategically and wisely put together a team of people that can go out and print money.
  • [07:06] Joint ventures are one of the fastest ways to make money.
  • [07:45] Hand select people for deal flow in cannabis, crypto, AI, etc.  Ride the wave of technology that is coming. Just one great deal will create multiple seven figures.
  • [10:25] The first step is to join joint-venture communities.
  • [11:09] Everybody listening should join Jay's community globally.
  • [12:35] Jay built his reputation by strategically attending events and targeting certain people.
  • [12:52] Once you figure out who you want to support and start supporting them things start to move.
  • [14:29] Being onstage didn't take Loral long to gain a massive following.
  • [17:18] Start with a smaller group not a larger group.
  • [18:54] You can always start a JV group before you start a mastermind group.
  • [19:21] It takes influence and traction to launch a mastermind and the way to get there is through joint ventures.
  • [20:04] The money and conversion happens when we are strategically borrowing the influence of other people that we are partnering with.

Links and Resources:

Dec 20, 2018

Edwin Kelly from Specialized IRA Services is here today to talk about the advantages and flexibility with a self-directed IRA. Whether you need income or tax savings, there are savings and investment vehicles that can help you meet your goals that aren’t tied to the ups and downs of the market.

Today, he talks about how everyone needs a customized plan that fits their circumstances, and he talks about the benefits of using a Roth to withdraw tax-free income. It’s also possible to make creative investments like real estate. You are in the driver’s seat and can invest in anything that is legally allowed by the government.

You can find Edwin here:

Ask Loral

Show Notes

  • [01:12] Edwin is a custodian of IRAs.
  • [01:36] When he was young, he read and studied about some of the great businessmen.
  • [01:55] He knew he wanted to be in business, and he was looking for a niche.
  • [02:01] From study, he noticed that starting a business in a new industry allows your business to expand as the industry expands.
  • [02:14] He wanted to find something that would solve serious financial problems and seemed new. He discovered self-directed retirement accounts although they weren't really new.
  • [02:51] Company-sponsored retirement plans haven't worked as well for people as they thought they would, because of company limitations on investments.
  • [03:27] A self-directed space allows someone to get complete control over their retirement account and invest in anything allowed by the government. The possibilities are endless.
  • [03:35] Edwin found that there wasn't a company doing what he was trying to do and he wanted to enable people to be able to invest in what they wanted.
  • [04:01] There is some confusion about self-directed IRAs. There's what people call self-directed and then there is truly self-directed.
  • [05:09] Most investment banks offer a self-directed fund where you can pick anything that they offer. This is limited to stocks, bonds, mutual funds, and CDs.
  • [05:18] A better question to ask is can you buy a foreclosed property with your retirement account and have your retirement account pay to fix it up and then put a tenant in there and collect rent tax free.
  • [05:49] A true self-directed retirement account has a custodian who allows you to invest in anything that the government allows you to invest in without restrictions.
  • [06:24] There are probably less than 30 firms who specialize in what Edwin's firm does.
  • [07:43] The government tells you what you can't do. You can't buy life insurance inside your retirement account. You can't buy collectibles and no self-dealing. Most everything else is allowed.
  • [10:27] At Specialized they create custom plans for their clients. They use individual retirement accounts. Small business retirement plans like solo 401(k)s. The last category is tax-advantaged specialty accounts.
  • [12:25] The Roth vehicle is the only one that allows us to go from forever tax to never tax. All income is not subject to tax.
  • [14:34] You can invest in an LLC and it can hold all kinds of assets.
  • [16:02] Self-directed retirement accounts are going to be part of your picture not all of the tools. Look at your rate of return and see where it makes sense to put something into a retirement account. Consult with an expert and optimize.
  • [20:10] Edwin gives an example of the power of compound interest.
  • [23:40] An example of a 53 year-old attorney who opened a Roth late. He then built a real estate portfolio within that Roth using leverage. His monthly distribution is now $40,000 a month tax free. He built that in 14 years.

Links and Resources:

Dec 13, 2018

I usually keep my podcast evergreen, but it's getting near the end of the year, and I have to talk about the big five. You have to get incorporated if you are serious about getting rich. Companies make money individuals get taxed.

You have to get your qualified plans, and review your trusts, insurance, wills, and a whole list of other things. Scott Arden from Controllers, Ltd. is here today to talk about the importance of tax entities and why it's so critical to have the correct entity in the year that you want to save on taxes.

You can find Scott here:

Ask Loral
Controllers, Ltd.
(866) 786-3462

Show Notes

  • [02:07] Scott started his first company when he was 19. This is when he first started learning about what he could deduct and how to protect his assets.
  • [02:35] He wanted to know what he could and couldn't do, so he dove into the tax code.
  • [02:59] He was in the asset protection industry for about 20 years.
  • [03:12] He and his business partner wanted to bridge the gap between the legal side and the tax side of companies and they started Controllers, Ltd.
  • [03:23] Tax professionals need to talk to each other on a consistent basis.
  • [03:39] Tax entities are not just about tax savings. There's also liability protection involved.
  • [04:54] Businesses high risk. The premise of corporations and LLCs is to protect assets.
  • [05:27] There are different entity structures. An LLC is kind of a hybrid between a partnership and a corporation.
  • [05:47] A corporation is a separate legal entity. It pays its own taxes.
  • [06:32] Scott has a whole list of questions that will help people determine which type of entity they should create.
  • [07:28] Timing is critical. You want to make sure that you are getting the most bang for your buck in the way of tax deductions.
  • [07:45] Sole proprietors get smashed with self-employment taxes and limited deductions.
  • [08:05] There is still time to take some tax deductions in 2018. If you are a sole proprietor, you can create an entity that has a fiscal year ending as opposed to a calendar your ending.
  • [08:41] You can also put in place a management company that will be overseeing the operations of the business. You can then pay the company for the rest of this year in the first quarter of next year. This allows us to take extra expenses and deductions that will reduce the 2018 tax liability.
  • [10:06] Some of the deductions that you can claim include retirement account, home office account, vehicle account, investments, and more.
  • [12:11] If you've been a sole proprietor for 20 years and you incorporate today, you will lose your past 20 years of credit.
  • [13:25] It's essential to have a proper accounting system in place. You do have to maintain minutes and resolutions. There are quite a few compliance issues that you need to understand.
  • [13:56] The company needs to be able to defend the different deductions that you take throughout the year. There needs to be corresponding minutes and resolutions to back up the transactions. You will also need corresponding documents like an ownership certificate. You want to make sure you clearly separate the corporation from the business owner.
  • [15:32] Fund your company,m so you can pay the proper deductions out of that fund instead of your private money.
  • [16:15] Don't commingle your funds and make sure you know your financials. You can also get your own corporate credit card.
  • [17:57] An example of how a couple went from 50% tax to about 11% tax by partnering with the world's largest wine company.
  • [19:05] Another example of taking advantage of depreciation of an asset to offset taxes with an online store.
  • [19:37] You can take a distribution and then invest it in an asset that will give you a high depreciation.
  • [20:21] Many accountants just barely get people by and overlook smart tax savings.
  • [20:52] You want a professional will who will present ideas that will help you save on taxes.
  • [21:22] Tax planning should be done throughout the year.

Links and Resources:

Loral’s Real Money Talks

Dec 6, 2018

This is the perfect end of the year show. Tax time is coming around and keeping your money by having write-offs is on many people’s minds. Today, my friend and member of The Big Table, Eric Karlen is here to talk about opportunities that are available to everyone in the wine business.

Eric is part of Direct Cellars a wine of the month club turned direct wine seller and income opportunity. He talks about how network marketing with this wine club can be used to build income, build assets, and get those all important deductions.

You can find Eric here:

Ask Loral

Eric Karlen on Facebook

(702) 592-5902

Show Notes

  • [01:38] Eric Karlen has been a network marketing professional for 20 years. Prior to that, he was a stockbroker.
  • [01:53] In 1998, he began in network marketing with his dad.
  • [02:23] Two years ago, he was introduced to a company called Direct Cellars. He thought this was a great play on words, because it was in the direct selling industry and the wine industry.
  • [03:18] Direct Cellars are the third largest wine club in the world and growing.
  • [03:51] You get two to four bottles of wind from around the world. These are small artisan wineries that are hard to get.
  • [04:42] With Direct Cellars, they will send replacement bottles of wine that you don't like. You can also purchase more of the wines that you do like.
  • [04:56] There are also wine tasting notes that tell you about the winery and what foods to pair it with.
  • [05:39] Eric wanted a true home-based business where he could build a business from home. That is what he saw with Direct Cellars.
  • [05:53] Direct Cellars made it simple to build a cash machine and have the opportunity for international expansion.
  • [06:12] High-income earners are the highest tax people in the world. You will need tax deductions. By being part of direct Cellars, it allows you to create an LLC and get those valuable tax deductions.
  • [06:47] You can write off trips anywhere around the world for wine tasting and other business expenses.
  • [07:16] They started as a wine of the month club. They then decided to pay people for referrals. They also started the replacement bottle of wine policy.
  • [08:17] They want to make sure that the customer is always satisfied.
  • [08:39] There are people involved in the business who don't even drink alcohol. You get 4 bottles of wine a month that you could easily give away.
  • [09:28] The goal is to build the largest wine club in the world using the power of network marketing.
  • [11:21] A great way to build your network is to text and use your website. It doesn't take a lot of time to promote even on a part time basis.
  • [12:52] The network is expanding around the world. These fantastic trips will be tax write offs.
  • [13:57] Wine is an easy add-on for any other product that you are promoting. You don't have to compete directly.
  • [15:36] Eric made just under $10,000 the first month that he came on board.
  • [16:07] It's either $249 or $449 to come on board. You get 12 bottles of wine with the $449 package.
  • [16:31] There is also a 50% upfront fast start bonus. When you enroll people, you earn $150 or $250 right off the top.
  • [17:16] The monthly maintenance is $80 a month or four bottles of wine.
  • [17:28] There are other levels and matching compensation plans.
  • [18:08]  There's a lucrative Compensation Plan that pays for the big guys and the little guys. Everybody wins with this plan.

 Links and Resources:

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