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Now displaying: 2020
Dec 31, 2020

Welcome to the New Year New You part one episode. We have been doing this webinar for over 15 years now.  This is a way to end the year and begin a new year in an active structure. You have to get your structure together and make sure 2020 isn’t a loss.

We are going to talk about commitments for 2021 in this special New Year New You episode. We are going to go through a very specific process and focus on three big areas.  We are going to start by talking all about commitments. We are going to talk about the difference between commitments and resolutions and why you need commitments to get results. 

Show Notes:

  • [01:04] Welcome to our New Year New You episode. 
  • [02:19] Commitments need to be specific, measurable, achievable, real, and time-bound. The clearer you can be the better it will go. 
  • [04:07] Loral shares about upcoming events including the Big Table.
  • [06:52] You have to get your structure together and make sure 2020 isn’t a loss.
  • [09:15] We help integrate your wealth, your system, and your team.  Our mission is to help you create and build wealth by changing your conversation about money. 
  • [11:01] As the wealth builder and entrepreneur in your household, you have to figure out how you are going to design 2021. How are you going to stay healthy as a business?
  • [13:54] Many people are sitting on a lot of opportunities but they don’t know how to transfer or translate them.  
  • [14:10] You can read a book and listen to something, but the way you interpret it is based on past thought. If you don’t have a lot of experience you are processing it against a wrong baseline. 
  • [15:36] We updated the academy to give people better access to their courses on our online portal. 
  • [17:10] We are going to make six-figure affiliates next year. You can use Loral’s products combined with your coaching. 
  • [19:10] Sign up to be an affiliate partner here
  • [22:10] We want commitments and results, not resolutions. 
  • [23:05] 2020 was not a failing year.  It was just a different year. 
  • [24:39] 80% of resolutions fail and usually in the first 2-3 weeks. Resolutions lack real action and commitment. 
  • [25:08] Actions = Results  Is what you’re doing affecting your checkbook or PNL?
  • [26:01] Give me your calendar and checkbook and I will tell you what is important to you.
  • [27:58] Use someone else’s stuff through affiliate or network marketing. 
  • [28:29] You sell stuff and then you go build it.  It is a constant cycle.  
  • [29:15] If you launch something and not a lot of people are attracted to it, you put it aside and go on to another thing. The market will tell you what they want.    
  • [29:39] Network and use each other as resources.   
  • [30:12] Really be clear on the action you're taking. You need a revenue-producing day. 
  • [32:25] Our group can hold you accountable and keep you on the right track for making money. 
  • [34:41] If you get a no, it is not a rejection of you. If it is a go, then move on.  If not, then move on to the next idea. Money is all over the place.  You just don’t know how to see it or get it yet. 
  • [35:02] Action One: If you haven’t joined Millionaire in Training go join.  Action Two: New Year New Your Contest
  • [37:00] Your business is one of the biggest assets of your wealth plan. 
  • [39:10] We want thousands of people in 2021 saying “I want to become a millionaire.”
  • [40:58] We want you making money.  When you’re successful, we’re successful.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up
New Year New You 2021

Dec 24, 2020

Welcome back to the weekly market awareness broadcast.  We are talking about your fear of money and failure.  We are here to help you end this year and start next year right.  We are joined by Justin Bennett and John Howard.  Justin is a real estate guru and most of his focus is on multi-family real estate. John started his career as an investment counselor and has now moved into real estate development including alternative investments. 

We talk about what is going on in the economy and give economic updates first.  Then we jump into our topic which is fear of failure. Many people use failure as an excuse to never get going.  We share some of our own failure stories and how we got through them.  Then we share practical tips for overcoming your fear of failure. 

Show Notes:

  • [01:44] We are going to be talking about the fear of failure. 
  • [04:19] Economic update: Small business owners are getting hit the hardest.  
  • [04:32] Justin shares about the current state in Kansas and Missouri. 
  • [07:13] It is an economic injustice that we are fighting.  
  • [08:04] John shares about the current state in Texas and how it varies across the state. 
  • [08:57] It is important to support our small businesses during this time. 
  • [11:19] A lot of people have a lot of fear these days. You’re going to have failures.
  • [12:24] To combat failure, many times you just have to keep moving. 
  • [12:52] Justin shares a failing story and how he walked through it.  His failure was not planning and putting the right steps into place to protect his business. 
  • [14:20] It is amazing what you can achieve through all the different networking. We have the ability to control our own destiny.  
  • [15:14] Failures don’t set you back to the point of no return.  It is just a minor speed bump. 
  • [15:29] John shares some of his failure stories. He learned so many valuable lessons from his failures that still help him today. 
  • [17:01] Things never go exactly like you think they are going to go. Things are always changing and you have to be able to adapt. 
  • [17:19] You need to have a vision or mission bigger than yourself. You need adaptability, flexibility, and creativity to be successful. 
  • [18:42] You are going to run into things and your attitude is going to help you get through it.  You need to reach out for help. 
  • [20:01] The community brings so much additional knowledge than we when you are going through things alone. 
  • [20:51] People who benefit are the people who aren’t afraid to take action and who are not afraid to fail and make a mistake.  
  • [21:16] Planning and making decisions now is how you get ahead in life and how you get to where you want to be.  It is times like these that the educated take advantage of the situation.  
  • [21:52] Justin shares about the most exciting project he is working on right now.     
  • [23:01] John is excited to be helping his friends and family with the knowledge he has. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up



Dec 17, 2020

Welcome back to another weekly market awareness broadcast.  We are talking about money mindset, what you are doing to end the year appropriately and start 2021 on the right foot. We are here to help you end this year and start next year right.  We are joined by Adam Kipnes and Thomas Holland. 

We start the conversation by talking about the importance and benefits of your business being incorporated.  The remainder of our conversation focuses on the importance of a money making mindset. We discuss how our childhood and family affect our money mindset.  We also talk about crucial shifts you need to make to change your mindset and be ready to make money. 

Show Notes:

  • [02:11] If you are not incorporated, you are going to miss huge opportunities.  There are tons of benefits including tax benefits. 
  • [04:52] Small businesses are being pummeled during this pandemic.  
  • [06:08]  A stimulus can keep a small business alive as long as it is incorporated.  
  • [08:52] When you make money your mindset has to shift. 
  • [09:29] Adam’s shares his mindset story.  
  • [10:36] Noone ever talked to him about making money. He was taught that the smarter and more educated he was the more money he would make. 
  • [12:00] Thomas’s family had a lot of entrepreneurs so he always saw that was something that he knew he wanted to do. 
  • [13:42] A lot of people have inherited money beliefs and money behaviors from their family.  Usually, we have to consciously say we are not going to do it that way. 
  • [15:07] When you know how to make money, it changes a lot.  
  • [16:40] What you give your attention to, you’re going to get more of. We don’t focus on what you don’t have. We focus on growth. 
  • [17:48] Success is not an accident.  Success is something that can be planned. If you work hard and smart you have a reasonable chance of success. 
  • [19:11] If you don’t talk to people about what you do and offer them your services, you are hurting them.  If somebody needs something and I don’t offer it to them, I am hurting them.  
  • [20:51] Look at what you do as a buyer, shift that, and do that same thing as a seller.
  • [22:21] If you really know you can serve somebody, you have to share it with others. 
  • [24:28] You don’t need to wait until everything is perfect. You just get out there and do it. 
  • [25:44] If you have 21 conversations each day, it is impossible to not be successful.  Take the sales piece out of it and have conversations. It is easier to reach people today and have a conversation. 
  • [27:50] Get used to listening to people in a curious and serving way. 
  • [29:05] The more confident you are, the easier it is to ask for money for your services. 
  • [31:19] Train your ear for listening to where your potential customers have a problem.     
  • [33:01] Language is a critical part of changing your mindset because when you speak it, it is actually a deeper integration to the change. You really have to speak your new story. 
  • [34:14] Take the negative you are speaking to yourself and turn it into a positive in the future tense. 
  • [36:46] If an activity is not making you money, you have to think about whether or not it is worth your time to do it. 
  • [37:35] Most of us do work, that there is somebody that is faster, cheaper, and better at it than they are. Does it need to be done by you?
  • [38:35] There are a number of things that we do each day that don’t serve us or our clients. We just do them because we have always done them. 
  • [41:13] When it matters, it will change. When it matters, you’ll change. 
  • [42:18] You need to make a decision and start taking action toward the results.  
  • [44:49] Don’t overthink it! Just think that you want to talk to as many people as you can and it is going to lead to money.   
  • [45:34] If you are not excited to hop up and get to work on what it is you are doing, that is the mindset shift that you need to look at and take. 
  • [46:53] The most recent Meet-Up and Marketplace winner, Godwin shares briefly about his success virtually.  Hear more about his story in an upcoming podcast. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up
The Expression of Your Power

Dec 10, 2020

Welcome back to another weekly market update.  We have special guests joining us today on a very special topic.  Eileen E. Galbraith and Kyle Boeckman are joining us on the show today.  Eileen is known as The Credit Gal and can help you clean up your credit.  Kyle was Loral’s partner in the Make Your Kids Millionaires book.  

We are going to talk about families, significant others and how do you help get them on board for this money conversation.  We are all interacting with money all day long.  So we must be talking about it especially with our family. In today’s episode, we talk about the importance of having money conversations with your family and significant other and getting on the same page for where you are headed. 

Show Notes:

  • [02:04] The end of the year is right around the corner.  Make sure you do the things on your checklist and get your infrastructure in order. 
  • [04:04] Less than 10% of us have a money conversation growing up in our households. No one talks about it.  
  • [06:04]  Eileen shares her story about growing up and money.  She shares how she struggled with money later in life because she was never taught about it.  
  • [07:44] Eileen shares how she believes you have to spend money to make money.  It is a cost of doing business.  
  • [08:15] It can be very frustrating and draining as a couple if you don’t have the same money mindset.  Money is a conversation that has to happen.  
  • [08:58] Eileen and her husband have a money date night every week where they have a positive conversation about where their money is going to go. Sit down and have a loving and positive conversation with your partner.  When you get on the same page, miracles happen. 
  • [10:19] Understanding the money psychology of your spouse is really important.  By understanding where they are coming from you can avoid a lot of conflicts there. 
  • [11:20] Build a foundation with your spouse of a similar understanding of basic concepts of money so you can be on the same page. 
  • [13:11] There are so many different ways to raise millionaire kids, but at the end of the day, you have to do it your way.  
  • [14:13] It is important to teach your kids about money at a very early age and incorporating that into their everyday lives.  
  • [15:01] When you are paying bills or investing, incorporate your kids into that and explain what you are doing to them. Every opportunity you can take to bring these moments into your culture is pivotal.  
  • [18:01] Justin shares his story about being hit hard because of a lack of planning and knowledge. 
  • [20:54] It is important to set things up properly for our loved ones.  
  • [21:42] Whether you want to talk about money or not, at the end of someone’s life you have to. 
  • [23:49] Loral taught her kids about money by modeling and taking them with her around the world. 
  • [25:52] Eileen had someone meet with her husband and he shared the possibilities and how she wanted to grow. 
  • [28:42] What do you need to talk about when it comes to money? 
  • [29:13] There are five money categories that you need to talk about.  How are you making money as a family?
  • [29:21] When you say you can’t afford it to kids all they hear is that they aren’t worth it and they don’t deserve it. It strikes their self-worth and at a psychological level that is often irreparable.    
  • [29:58] Income, expenses, and cash flow are all parts of the conversation. 
  • [30:53] The other parts of the conversation are assets and liabilities.  
  • [31:16] Every real estate transaction affects all five of the financial categories. 
  • [32:27] Having a common goal with your family makes all the difference.  
  • [34:09] They don’t think of not being able to afford things anymore, they know they are able to go make fast cash if needed.  
  • [36:45] There are three categories that help develop good money psychology.  First is their willingness to delay gratification and figuring out if they are a spender or a saver. 
  • [37:16] The second factor is risk tolerance. Different people have different risk tolerances. The final scale is decisiveness.  
  • [39:13] It is important to know the foundation of where they are coming from so that you can know how to go where you need to get.  
  • [40:57] In everything you do you’re going to make a decision about money.   Loral
  • [42:49] We often learn through repetition.  So as many times as our families hear the terms, the more they begin to pick things up.  
  • [45:13] The fastest way we can help you is by getting some money back into your pocket.  Then you can go back to your spouse with results.  
  • [48:19] If you are bringing kids into a blended marriage just protect whatever you have. 
  • [49:12] It all starts with the conversation.  You have to be respectful of each other and sit down and start the conversation.  It is important to understand what is going on with money in the world right now.  
  • [50:18] Integrate these money concepts in your everyday lives.  Money is not something to be afraid of.  It is something you need to discuss and it is a big part of our lives. 
  • [51:37] Justin shares about a project he and Loral are working on in Topeka with real estate.  
  • [53:33] When you are an investor in a project with a group of like-minded people you take so much more pride in that investment.
  • [55:31] Check out the Millionaires in Training Group. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up
The Credit Gal Website
Eileen on LinkedIn
Kyle on LinkedIn
Make Your Kids Millionaires Book

Dec 3, 2020

Welcome back to the weekly market awareness broadcast.  We have a number of guests with us for this episode.  We are talking about digital currency and money mentors.  2020 moved digital currency to the forefront.  Chris Kline, our digital bitcoin and cryptocurrency expert is joining us for this episode.  

We kick off the episode talking about the rise of cryptocurrency in 2020. We talk about what you should do today with regards to cryptocurrency.  We have been getting so many questions about mentors.  We have several special guests joining us to discuss why it is important to have mentors, especially money mentors.

Show Notes:

  • [01:23] Check out the upcoming program, New Year, New You on January 5th. 
  • [02:54] In this episode, we are talking about two big themes, digital currency and money mentors.  
  • [04:08] 2020 was the ultimate test for digital currency.  
  • [06:25]  Cryptocurrency had a chance to rise to the occasion in 2020 and mature.  
  • [08:06] Major players are coming into mature cryptocurrencies including Square and Paypal. 
  • [09:01] The supply is shrinking and the demand is high, so we have the perfect storm for crypto this year. 
  • [11:51] Positioning is super important.  If your money is not where it needs to be, inside of an entity or self-directed IRA and prepared to execute a trade you have missed that opportunity.  
  • [12:18] Because of the speed at which cryptocurrency moves, positioning is critical.  
  • [13:00] Get off zero.  If you own zero bitcoin today, you want to own something by tomorrow and then you slowly accumulate over time or position yourself for a larger purchase. 
  • [13:45] Chris recommends that everybody starts with bitcoin unless you have a particular coin you are passionate about. 
  • [16:12] In Utah, Texas, and Ohio gold and silver are transactional and accepted as tinder for taxes.
  • [19:01] A lot of entrepreneurs don’t know how to lead themselves.  They are used to being told what to do or guided by a boss.  Mentors take a similar role.  
  • [19:54] Loral shares the story of her first mentor.     
  • [21:01] Mentors guide you, help you avoid costly errors, share their Rolodex, experience, and provide guidance.  Masterminds are basically co-mentorship. 
  • [22:10] Thomas shares his first experience with the book The Four Hour Work Week and attending a Three Days to Cash workshop.  
  • [24:18] Eileen shares about her first mentor at her first job.  
  • [26:31] She has experienced so much growth because she has the mentor that she needs.  
  • [27:20] Oftentimes your employer is your first mentor.  
  • [28:51] Tamara’s biggest mistake is that she didn’t ask for help.  
  • [30:07] We all have bad experiences working with others at some level, but we can’t carry that forward.  It is what it is, grow up, move on, create from where you are, and design your life from where you are.
  • [31:17] When you are looking for a mentor, you want to look for a group of people around the mentor who are doing what they have done.    
  • [33:01] Always keep an open door to something new because you never know what you are going to experience.  
  • [33:25] Chris shares about his high school principal mentoring him and his first business mentor. 
  • [35:04] There is value in every mentorship you can find but you have to remember that nobody has all the answers.  Sometimes we even outgrow our mentors.  
  • [37:56] Sometimes we have to transition from a mentor. 
  • [39:26] You need to have a mentor because you are not going to figure it out on your own and their wisdom and experience will compound your path to success much faster. 
  • [40:53] Always have a notebook available for brilliant tips. You may not need them right then, but you may use them later.  Document because you never know what you may want to go back to. 
  • [42:42] Be a mentor always and have mentors. Always pay it forward. 
  • [43:08] Be really clear on what you want a mentorship on and then be coachable.  
  • [44:01] You want many mentors in different areas.  
  • [46:27] It is important to surround yourself with people operating in their strengths and expertise.   
  • [48:33] You will never be alone again when you get the power of a mentor.

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up

 

Dec 3, 2020

Welcome back to the weekly market awareness broadcast.  We have a number of guests with us for this episode.  We are talking about digital currency and money mentors.  2020 moved digital currency to the forefront.  Chris Kline, our digital bitcoin and cryptocurrency expert is joining us for this episode.  

We kick off the episode talking about the rise of cryptocurrency in 2020. We talk about what you should do today with regards to cryptocurrency.  We have been getting so many questions about mentors.  We have several special guests joining us to discuss why it is important to have mentors, especially money mentors.

Show Notes:

  • [01:23] Check out the upcoming program, New Year, New You on January 5th. 
  • [02:54] In this episode, we are talking about two big themes, digital currency and money mentors.  
  • [04:08] 2020 was the ultimate test for digital currency.  
  • [06:25]  Cryptocurrency had a chance to rise to the occasion in 2020 and mature.  
  • [08:06] Major players are coming into mature cryptocurrencies including Square and Paypal. 
  • [09:01] The supply is shrinking and the demand is high, so we have the perfect storm for crypto this year. 
  • [11:51] Positioning is super important.  If your money is not where it needs to be, inside of an entity or self-directed IRA and prepared to execute a trade you have missed that opportunity.  
  • [12:18] Because of the speed at which cryptocurrency moves, positioning is critical.  
  • [13:00] Get off zero.  If you own zero bitcoin today, you want to own something by tomorrow and then you slowly accumulate over time or position yourself for a larger purchase. 
  • [13:45] Chris recommends that everybody starts with bitcoin unless you have a particular coin you are passionate about. 
  • [16:12] In Utah, Texas, and Ohio gold and silver are transactional and accepted as tinder for taxes.
  • [19:01] A lot of entrepreneurs don’t know how to lead themselves.  They are used to being told what to do or guided by a boss.  Mentors take a similar role.  
  • [19:54] Loral shares the story of her first mentor.     
  • [21:01] Mentors guide you, help you avoid costly errors, share their Rolodex, experience, and provide guidance.  Masterminds are basically co-mentorship. 
  • [22:10] Thomas shares his first experience with the book The Four Hour Work Week and attending a Three Days to Cash workshop.  
  • [24:18] Eileen shares about her first mentor at her first job.  
  • [26:31] She has experienced so much growth because she has the mentor that she needs.  
  • [27:20] Oftentimes your employer is your first mentor.  
  • [28:51] Tamara’s biggest mistake is that she didn’t ask for help.  
  • [30:07] We all have bad experiences working with others at some level, but we can’t carry that forward.  It is what it is, grow up, move on, create from where you are, and design your life from where you are.
  • [31:17] When you are looking for a mentor, you want to look for a group of people around the mentor who are doing what they have done.    
  • [33:01] Always keep an open door to something new because you never know what you are going to experience.  
  • [33:25] Chris shares about his high school principal mentoring him and his first business mentor. 
  • [35:04] There is value in every mentorship you can find but you have to remember that nobody has all the answers.  Sometimes we even outgrow our mentors.  
  • [37:56] Sometimes we have to transition from a mentor. 
  • [39:26] You need to have a mentor because you are not going to figure it out on your own and their wisdom and experience will compound your path to success much faster. 
  • [40:53] Always have a notebook available for brilliant tips. You may not need them right then, but you may use them later.  Document because you never know what you may want to go back to. 
  • [42:42] Be a mentor always and have mentors. Always pay it forward. 
  • [43:08] Be really clear on what you want a mentorship on and then be coachable.  
  • [44:01] You want many mentors in different areas.  
  • [46:27] It is important to surround yourself with people operating in their strengths and expertise.   
  • [48:33] You will never be alone again when you get the power of a mentor.

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up

 

Nov 26, 2020

We have a superstar episode with a number of guests we are going to be speaking with today.  We are excited to get their take on everything going on and get a market update.  We are joined by an expert ensemble including Ron LeGrand, Randy Tate, Kelly Korshak, Chris Kline, Ken Stark, and Warren Taryle.

Right now we are living in challenging and uncertain times.  In this climate of uncertainty, what do we need to be doing? What should we be doing in these uncertain times in the market?  We are going to talk about real estate, mortgages, taxes, digital currency, and more.  Now is the time to get your infrastructure in order for the year-end.  

Show Notes:

  • [02:57] Our expert panel is talking about what we need to be doing in these uncertain times. 
  • [04:51] Our expert panel includes Randy Tate, Kelly Korshak, Chris Kline, Ken Stark, and Warren Taryle.
  • [05:23] The market rallied after the election. A divided Congress is good for business.   
  • [06:28]  Kelly predicts that in the first quarter of 2021 that the market is going to go higher.  One of the main reasons is the vaccine.  
  • [08:57] We are going higher in the market but not without a lot of volatility. 
  • [09:31] This year bitcoin has proven itself in uncertain times. It is a stable asset.  
  • [11:01] Diversification helps folks so they don’t have to put all their eggs in one basket and hope for one market.  There are so many opportunities out there that diversification is fundamental. 
  • [12:53] Quit worrying about all the things you can’t control and worry about the market in your house.  Get your cash flow up and it won’t bother you as much.  
  • [14:00] Anyone can purchase single-family real estate on terms and start making money quickly.  Terms are when you buy with owner financing and put lease options, tenants, buyers in the property. 
  • [16:37] Most people are hoping for another round of tax cuts to come through. 
  • [18:15] If there is anything changing with the tax cut, it is either going to affect everybody or nobody. 
  • [19:58] Start your company, get it making money, and start taking the legal deductions. 
  • [21:12] There is no way you survive this without having your own business.  Start becoming a significant investor. 
  • [23:28] Real estate is typically the vehicle that pulls us out of recession.  Values continue to go up and rates continue to stay low.       
  • [24:13] Rates are going to continue to stay low, demand continues to be high for real estate,  and supply continues to stay short.    
  • [25:56] High deductions categories include real estate and gas and oil. 
  • [26:51] With the end of the year coming, oil and gas is a great tax break if it makes sense investment-wise. 
  • [27:38] If you don’t have your money rolls set, you better get them set. 
  • [29:52] The only thing you can control right now is what’s going on in your family’s household.  
  • [30:58] If you are employed make sure you have a company with an EIN and bank account so you can do legal deductions. Have a year-end tax planning session. 
  • [33:12] Don’t go buy random coins at random exchanges. There are a lot of reputation risks in new spaces.  The stock has been around for a long time so they have weeded out the bad guys.   
  • [35:36] The U.S. is still the best place to invest. Keeping your money domestically is wise. 
  • [37:44] Overregulation in many industries should be a concern for all Americans.  
  • [38:22] We have to be very wary of all the risks that remain in our society now and especially over the next six months.  There is a lot to invest in out there, but the potholes are large. 
  • [39:57] Position yourself and your money so when the opportunity arises you can maximize. 
  • [41:03] We have to be flexible and ready to make changes in our lives and how we have set things up. We can’t get locked into one mindset. The proper entity structure is the number one building block in a tax strategy.
  • [43:29] If you have an S Corp don’t forget to do something with your year-end payroll.
  • [45:07] Make it a huge priority to have your house in order.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up
Ron’s Website
iFlip Website
Randy on LinkedIn
Kelly on LinkedIn
Taryle Accounting

Nov 19, 2020

We have a number of special guests today talking about current events and what we have going on in the market.  We also talk about the political future and what that means for your wealth-building plan.  We are also excited to have our big winner from the last Millionaire Maker Meetup and Marketplace, Jill Wick.  Later in the episode, we are joined by Randy Tate and Kelly Korshak. 

Randy Tate is the co-founder and CEO of iFlip, SAAS Financial Technology Company.  His passion is to empower all individuals to grow their wealth for the future through the use of AI investing technology. Kelly Korshak is the co-founder and chief technology officer at iFlip. His dream is to empower all individuals to grow their wealth through AI investment technology.

Jill shares her experience in the last Millionaire Maker Meetup and Marketplace.  Randy and Kelly share about iFlip and the opportunity to participate in the stock market with iFlip.  They also share what is currently happening in the market and the expectations for the remainder of 2020.  

Show Notes:

  • [01:42] We are starting this episode with Jill Wick, the big winner from our last Millionaire Maker Meetup and Marketplace. 
  • [02:13] Jill is a Rodan and Fields consultant and she sold over $800 in products over that weekend.  
  • [04:13] Loral shares about the affiliate program.  Check out the upcoming Millionaire Maker Meetup and Marketplace and the graduate Meetup and Marketplace. 
  • [06:48] This year lots of people just need to earn a little extra money to meet their financial goals.  The Millionaire Maker Meetup and Marketplace is a great opportunity to make that happen.  
  • [09:13] March 2020 was when the market dropped.  It was the lowest drop since 1929. 
  • [10:53] iFlip empowers the average person to participate in the stock market the way institutions, billionaires, or elite professionals do. 
  • [12:28] The markets are probably going to go higher over the next two and a half months going into the inauguration.  
  • [14:11] We are independent of foreign countries giving us oil because of the initiatives taken by the existing administration to support our domestic production of oil and gas. 
  • [15:24] Any stock that is directly related to a virus going away through the vaccine will explode once the distribution of the vaccine becomes evident. 
  • [17:01] Kelly is really excited about the future of real estate, oil and gas, and bitcoin. Right now is a really great time to take risks.  
  • [18:15] There is going to be a big move to the upside in the stock market, bitcoin, and real estate.  Interest will go up a bit in the next 90 days. 
  • [21:18] The reason the energy stocks are down is not a push toward new electric vehicles coming in the future. There will be tremendous growth in that sector, but oil and gas can proposer as well. 
  • [22:52] Anybody that is in the oil and gas sector should stay there.  Anybody that isn’t there should get there.  Anybody that thinks this industry is going away is misinformed.  
  • [24:57]As soon as the vaccine starts to get distribution, companies that supply restaurants or provide entertainment will jump 50% or more in a day. 
  • [26:29] When the vaccine comes out the tide will rise and every stock including oil and gas and entertainment stocks will explode. 
  • [26:56] Sometimes when you get in unique times like this you get the opportunity to construct and design things to do much greater over time.                  
  • [27:38] The best time to invest in things regardless of what it is under distress or when it is scary to do it.  These times are opportunist times.  
  • [28:51] When things look bleak that is the best time to invest not when they look good. 
  • [30:29] Buy bitcoin as it goes up because you are buying momentum.  
  • [31:38] You don’t buy things just to buy things. Buy them in a certain way knowing that you may buy more.  You need a buying strategy.  
  • [32:49] Everybody should have some of their assets in the digital currency class.  
  • [34:39] No matter what, you have got to make money and that will never change.
  • [35:17] You have to have a plan and understand how to put money to work.  Don’t invest at all if you don’t have a rule. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up
iFlip Website
Randy on LinkedIn
Kelly on LinkedIn

 

Nov 12, 2020

We are having a lot of conversations about what it takes to have your financial infrastructure locked by year-end amid this crazy pandemic.  Today we are going to be talking about real estate and learning more about how to make real estate part of your plan. We are joined by Ron Legrand today. 

Ron LeGrand has been an entrepreneur since the age of eighteen. In1982, Ron entered the real estate business, innovating the industry by creating systems to buy and sell houses without risk. Today, Ron and his company, Global Publishing Inc., mentor others in the real estate business, and Ron speaks around the world on the topic. In addition to his work in real estate, Ron is also owner and operator of two restaurants, two information marketing companies, three consulting companies, and a couple of others.

Ron has consistently delivered millionaires in the real estate space.   We talk about what we are seeing in the economy, the world of entrepreneurship, and real estate.  Ron shares how he used terms for buying and selling real estate.  

Show Notes:

  • [02:26] I have Ron Legrand with me today.  He is the godfather of real estate.
  • [03:20] Ron shares the story about how he met Loral.  
  • [04:43] After the first few months of COVID, it actually became easier to buy and sell real estate and it keeps getting better.   
  • [06:24] The pandemic has opened up a lot of opportunities like take out and virtual options.
  • [07:22] When the market goes down again, that is the best thing that can happen to a real estate investor.  It is easier to buy and sell. 
  • [09:01] He doesn’t pay cash for his real estate investments.  He terms from the seller and offers terms to his buyers which makes his business easier and more profitable.  
  • [10:10] Ron has learned the importance of getting out of his own way and letting people do what they do best so he can do what he does best.  
  • [11:30] We have to get money in the bank and equity so that we can think and focus and build wealth from that equity.  
  • [12:19] Terms means that you are either buying it with owner financing and he sells it with a lease purchase.  He shares how he uses terms in his purchases and sales.  
  • [15:47] It makes no difference what is going on around us. There are always people that want to sell their houses and people that want to buy houses. This business is never going to end.  
  • [17:01] Check out the upcoming webinar with Ron and Loral where he shares step by step the way to buy and sell real estate with terms.  
  • [17:48] If Ron was starting all over he would start with a terms business. 
  • [18:11] Anyone can get started with buying and selling single-family houses without money or credit. 
  • [20:09] Real estate is a great opportunity for entrepreneurs to add to what they are already doing or make it what they want to do.   
  • [21:22] Real estate is something you need to put into your business model.  
  • [23:01] Check out the upcoming Virtual Meetup and Marketplace.  
  • [24:56] We always want you to be making money and adding revenue.  
  • [25:51] Loral is calling November 15th the year-end.  If you don’t have your paperwork done by November 15th chances of getting it through any government agency are slim to none.     

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Ron’s Website

Nov 5, 2020

This episode is part of a series called Getting Your Financial Infrastructure Together.  Today we are going to be talking about gold, cryptocurrency, and cash.  With me today is Chris Kline. 

A Denver, Colorado native, Chris Kline was challenged to develop a way for individuals to directly invest in Bitcoin for retirement. Together with Camilo Concha and Johannes Haze, Kline co-founded Bitcoin IRA, and Kline then developed the process and exclusive partnerships to create a full-service, turnkey solution allowing investors to capitalize on the rapidly growing digital currency marketspace for their retirement portfolio while maintaining full IRS compliance. Kline holds a degree in International Finance and Leadership from the University of Colorado, Boulder. He is a contributing writer at Forbes Finance Council and FXEmpire, among other publications.

We talk about what you need to be doing now to be ready to wrap up this year.  We talk about gold, retirement plans, and the top four cryptocurrencies.  Chris shares practical steps to take today to position yourself for success as we wrap up this year. 

Show Notes:

  • [02:08] Today we are talking about gold, cryptocurrency, and cash with Chris Kline. 
  • [03:37] Chris knew that he wanted to be an entrepreneur and found himself working with retirement accounts.  He learned that you could do much more with your retirement than you could ever imagine.  
  • [04:14] They keep innovating new ways for people to build wealth into a turn-key solution. 
  • [05:19] This is a year to mark all other years and a new dynamic. It is exposing our weaknesses. 
  • [06:56] Five trillion dollars have been created by the federal reserve this year. 
  • [07:55] People are going to need qualified plans more as the tax crunch comes on. People are going to be looking for deductions which means putting money in a long-term vehicle.  
  • [08:36] Retirement accounts can give you an advantage of lowering your income and you can’t touch it. Once you put it aside in your retirement it is in that vehicle and it has to stay in that vehicle until you are at retirement age.  It doesn’t mean you can invest it, it just means it has to stay in that vehicle. 
  • [09:05] Self-directed IRA open up this world of opportunity.                  
  • [10:16] Digital currency came into play in 2016.  When you see that there is this little amount of bitcoin that will ever be made compared to other things that is where it really becomes powerful. 
  • [12:49] Only one group of people can control a particular currency. Bitcoin is truly the peoples’ currency.  
  • [13:28] Cryptocurrency is easy to use.  You open a wallet and add cryptocurrency.  
  • [15:23] Chris is working on a way to make gold easier to use for clients that want high frequency and use the technology. 
  • [16:35] Check out the Millionaire Maker Meetup and Marketplace and now the Graduate Marketplace is complimentary.  
  • [17:38] Fund your qualified plans to the maximum capacity and get into as much as you can.  Have the qualified plans completely funded.  
  • [18:24] Positioning is huge.  Position yourself and be ready that when you see an asset you are interested in you, you can capitalize.
  • [19:14] The Roth IRA is a golden ticket to wealth. Changes to the Roth may be coming based on the election results.   
  • [20:32] If you have children open a Roth IRA for each of your children.  
  • [22:34] There is still activity to the investing.  
  • [23:05] Open your qualified plans today. Spend some time and get it done.  
  • [24:51] Bitcoin is for money is your medium for exchange and you are holding it for wealth build.  
  • [25:37] There are four times as much lite coin as then there will be bitcoin.  
  • [27:21] You are going to see staking and or yield interest-bearing instruments across all coins very soon. 
  • [30:21] Check out the Meetup and Marketplace and go make a lot of money together.  
  • [31:01] The Department of Justice filed suit against Google for antitrust violations.  
  • [32:01] More and more big corporations are investing in bitcoin because that is where the future is headed.  
  • [33:34] Join us next week when we talk about real estate with a world-leading expert. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Chris on LinkedIn

 

Oct 31, 2020

There is so much to learn in the volatile economy we are in. Never before has the world been shut down.  Nothing comes close to what this Coronavirus has done to our local and world economy. Many entrepreneurs are struggling. I have Joey Gilbert with me today.  He is a local lawyer in Reno, Nevada. 

Joey Gilbert Law opened more than ten years ago with a focus on a few distinct areas of law, Personal Injury, DUI Defense, Criminal Law, Workers Compensation, Special Use, Privileged License Law, and Immigration Law. Joey Gilbert was born in Chicago, Illinois, but was raised in Sparks, Nevada. Gilbert graduated from the University of Nevada where he was a collegiate fighter. Hard work and dedication earned him three national boxing championships. Joey Gilbert Law has also been recognized as top 10 attorney-client satisfaction for DUI/DWI Attorneys in 2016, and the national trial lawyers 2016 top 100 criminal defense, as well as Reno News and Reviews best local attorney in 2017.

Joey shares coronavirus data and updates from around the world. We talk about true economics and what it has done to our families, our elderly, and our kids. We share the data about what is happening to our economy and the economy around the world. 

Show Notes:

  • [01:10] I have Joey Gilbert with me today.  He is a local lawyer in Reno Nevada. 
  • [03:01] Joey is very proud of his background as a fighter.   
  • [04:25] He takes the same diligence, skill, and tenacity that he took into the boxing ring into the courtroom now.  
  • [07:19] The World Health Organization advocates the lockdowns are not good.  
  • [08:40] The Great Barrington Declaration is a very unique document. They are more worried about the mental and health impacts as a result of lockdowns and shutdowns of our economy versus the coronavirus itself.  
  • [10:45] A lot of the problems are from misinformation. There are going to be 10 million people starving in Africa based on bad information when Africa has some of the lowest COVID infection rates. 
  • [13:36] We should have done what Sweden and Denmark did back in May which was put protocols in place for preparing foods and protect those that we needed to protect.
  • [15:02] We are seeing double the amount of deaths in the states with the most restrictions.                
  • [17:11] Hospitals are getting paid to code death Cornavirus through the Federal Coronavirus relief packages. 
  • [17:51] A CDC study from September 2020 found evidence that most who contracted the Coronavirus frequently wore masks.  
  • [18:57] If the people most likely to contract it are wearing the masks, that just proves it is too small of a particle size for the mask to stop anyway and people aren’t wearing them right. Joey has taken a holistic approach with sunlight, Vitamin D, and Zinc instead.   
  • [21:49] Many people are really scared from all the media coverage.  
  • [24:21] We have learned so much about how to treated coronavirus since the beginning. There are known medications, treatments, and therapeutics that are working.  
  • [26:41] Many businesses didn’t have the agility to change their business models when this happened and now they are struggling.  
  • [27:29] Many studies are predicting one-third of the small businesses will shut down from the effects of the pandemic.   
  • [28:48] The repercussions are dire across the states and we won’t see the full effect for several months and even into next year.  
  • [31:15] The economy is most important to Americans right now.  
  • [33:45] Joey shares about the church lawsuit they filed in Nevada.   
  • [35:37] Research for yourself and check out other outlets that are not our mainstream news media.  
  • [37:52] Joey shares a map and data of the result when Argentina made people start wearing masks.    
  • [38:38] If you want to prevent the Coronavirus wash your hands, use your hand sanitizer, if you’re sick stay home, sanitize workspaces, and live your life.  If you have older family members that you are concerned about limit contact with them but not so much.
  • [40:01] We send our kids to college to network and meet other people.  
  • [41:08] Great Barrington Declaration reminds us that the children never get their youth back.  
  • [44:01] Joey is working on a lawsuit similar to what they did in Michigan for the state of Nevada.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Joey’s Website
Great Barrington Declaration

 

Oct 27, 2020

Today we have a very interesting topic around making money.  Direct sales is an industry that has made many people billionaires and multi-millionaires. In many countries including the United States, it still has a stigma about it.  With me today is Janine Finney, who is an expert on network marketing.      

Janine Finney spent the first 30 years of her career as a sales executive in Corporate America. Then, at the age of 50, Janine began a new career that she never expected to pursue, Network Marketing.  When Janine’s daughter, Lory, shared her desire to join a Network Marketing company after graduating from college, she quickly discovered that her mom had a very different opinion about this type of business than she did. Their strongly opposing views and the battles that ensued are what inspired them to co-author a book called, “The Flip Flop CEO”, which has sold over 100,000 copies.   Then, five years later, they wrote a sequel to their first book, called, “Does the Shoe Fit? The Guide to Help You Decide.” Janine believes that many women are searching for the freedom and flexibility that Network Marketing provides, but don’t recognize it because of the stigma and misconceptions surrounding this topic.  It has become Janine’s mission is to help others understand what Network Marketing is, and is NOT!

We talk about why direct sales should be something you do or possibly add on to what you are already doing. We also talk about the misconceptions of network marketing.  Finally, Janine shares some practical steps for finding the right network marketing company for you to be successful.  

Show Notes:

  • [01:54] Janine was in the corporate world for thirty years and she realized that some people are not cut out for the cubicle world.  
  • [03:47] After doing back and forth with her daughter for over a year she decided to check into network marketing.  She found that her negative experience was not the whole profession.
  • [04:01] She went from the mindset of “I will never do this” to “I think, I was born to do this” very quickly after her research.  
  • [04:47] Janine wanted to help change the stigma of network marketing so she wrote the book, Flip Flop CEO. Her second book Does the Shoe Fit was written to help others evaluate if network marketing is a good fit for them.  
  • [06:16] Network marketing is a franchise in a box and it is so different than the perception of it.  
  • [07:11] There are still so many misconceptions about direct sales and there are so many people searching for exactly what it offers but they don’t recognize it because of the myths.
  • [08:29] There is also a huge misconception about the earning potential. Many professionals see direct sales as hobby money and it can be so much more. 
  • [09:49] A third really big myth is that they assume that all network marketing companies are the same.                    
  • [12:39] For people that are searching for a way to have more control over their future network marketing is an opportunity to have an online international virtual business in a box without the high price tag.  
  • [13:46] For people that are looking for a way to have more control over their own destiny, this is a business that can be grown alongside what you are currently doing.  
  • [14:07] People that are successful in business are successful in this business because typically they have time management skills, recognize a good income opportunity, and really understand it. It allows you to own your life, control, your time, and you can work on your own schedule.  
  • [15:00] The flexibility and freedom are here and you can make as much and little as you want to earn.  The sky's the limit and there is no glass ceiling.  
  • [16:46] This is a legitimate business that you can put a corporate structure around, do legal deductions, take business trips, and promote anywhere in the world. You can use a lot of higher strategies to build a successful business.  
  • [18:25] Janine compares direct sales to joining a gym. 
  • [19:31] Many people fail at network marketing because they don’t treat it like a business.  Do you put as much effort into it as you did your job?
  • [20:21] There is a difference between direct sales and network marketing.  
  • [20:36] The Direct Sales Association is a good place to go look at companies and find reputable companies.  Direct sales is a good option if you are looking for right now money vs. long term money. 
  • [20:56] In network marketing you are typically building a network of consumers.  People are going to shop over and over again and that is how you can build long term money.  
  • [21:21] Janine recommends looking for a company that provides consumable products if you are looking for long term residual income.  You also want to find something that you believe in and that you get hooked on yourself.  
  • [22:03] She would give friends something that she knew they would fall in love with and that they wouldn’t want to be without.  She would tell them to use it for a week and if they didn’t like it they could give it back but when they did love it she would show them how to buy it at a discount.
  • [23:29] Really think about your audience and circle of influence.  Who are you going to be able to provide a solution for? We are in the business of being a solution provider. 
  • [24:07] It is important to find something you’re passionate about because then you are going to be able to do it authentically.  If you narrow it down to three companies, interview the people in the company and find out how they are doing the business.
  • [25:21] Some first steps that Janine recommends are listening to their podcast, MLM, You Decide, and reading the book Flip Flop CEO. The Flip Flop CEO is going to give you a really good overview of what network marketing is.  
  • [26:21] Seek out objective information that isn’t biased to one specific company.

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Flip Flop CEO
Does the Shoe Fit
Direct Sales Association
MLM, You Decide Podcast

Oct 15, 2020

In part two of our tax planning series, we are going to continue talking about getting our financial houses in order and ending the year strong.  We have Weldon Wulstein back with us again for this episode. Weldon is the CPA and owner of Wulstein Financial Services and Company.   

Weldon is going to answer all your tax questions on the show today.  He shares about the future of the airline and real estate industries.  Then we talk about what you should be doing now to prepare for the end of the year.  We wrap up our conversation talking about flip accounts and retirement plans. 

Show Notes:

  • [00:48] The recovery of the airline industry is going to depend on travel. Business travel has mostly kept the airlines afloat but that has pretty much ceased. 
  • [01:34] Private aviation is soaring right now. More companies will most likely buy their own planes.  
  • [02:42] Weldon predicts that commercial properties around the tech industries are going to be suffering. 
  • [02:56] If you want something to be deductible, get creative. 
  • [03:01] Deductions have to be ordinary, necessary and have a business purpose to them.   
  • [03:36] If you get audited you have to have the documentation to support your deductions.  If you don’t you can receive penalties and interest.  You often won’t be audited for several years so document on receipts why they are business expenses.
  • [04:48] There will be a separation between elite airlines and discount airlines.  
  • [05:43] Right now everyone needs to start by getting their accounting records up to date and in order. Then the next step is to do a review of the last three years.                   
  • [06:21] After everything is in order then you can look at what assets to invest in for tax savings. 
  • [07:12] The minimum documentation that you need to get together is a profit loss statement including total revenues and different categories of expenses.  Plus getting all tax documents together.  
  • [09:36] This year it is really key to start preparations sooner than later.  Get your stuff in order early especially this year because everything is so far behind. 
  • [11:25] The difference between the S Corp and C Corp is that the S Corp flows its income down to you personally or to the owners.  There are limitations as far as who can be an owner of an S Corp. 
  • [14:25] Before hiring a bookkeeper, do a lot of research on what they have done.  Look at some of their other work and their process.  When you find a good person, talk to their existing clients and get their feedback.  
  • [15:23] Be sure to visit our new calendar on the Integrated Wealth webpage so you can get a view of what we are doing month to month.  
  • [16:01] Next week, Scott will be talking about entities. 
  • [16:40] You need a retirement plan attached to a company so you can utilize those revenues to make your contributions.  
  • [17:03] For the cost of a self-directed plan that amount of stock you can invest in compared to the traditional is incomparable.  If you are at an upper-income level you need to have a self-directed retirement plan. Weldon recommends a 401K. 
  • [18:44] A flip account can be a great opportunity if the person really pays attention to their company and has its infrastructure in place. 
  • [21:14] It is important to get a team and stop trying to do everything on your own then you can focus on your sales. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Weldon’s Website

 

 

Oct 8, 2020

We are talking about getting our financial houses in order and ending the year strong and start the new year off right. The end of the year is coming faster and sooner than we think, so the time to get everything in order is now.  We have a very special guest with us today, Weldon Wulstein. Weldon is the CPA and owner of Wulstein Financial Services and Company.   

Weldon is going to answer all your tax questions on the show today.  He shares about the different tax deadlines and why you may want and need an extension. Weldon also talks about when you would convert an LLC to an S Corp and when a C Corp could be beneficial.  Then we wrap up our conversation talking about tax deductions and business trips.  

Show Notes:

  • [01:02] We are talking about getting our financial houses in order and ending the year strong and starting the new year off right.
  • [03:20] We have a very special guest with us today, Weldon Wulstein. Weldon is a CPA. 
  • [04:22] He has liked puzzles ever since he was a little kid. He looks at each different tax strategy as a puzzle. 
  • [05:47] You need to get your books in order.  This includes your bookkeeping and entity structures now.  
  • [06:36] In a normal year, your tax return is due April 15th for individuals, but it is due March 15th for any kind of business that sends a K-1.  You do have the option to extend those.  You can do an extension up through September 15th for the entities and October 15th for personal and individual. 
  • [07:26] People often file before April if they are expecting a refund back.  
  • [08:34] You should have your taxes in order every quarter and every month of the year.  
  • [09:04] When or why would you move away from an LLC to an S Corp or C Corp?                      
  • [09:38] You can convert your LLC to an S Corp.  There is a little more work, but then you can dictate how much money is paid through salary and how much is paid through distribution as an income tax.  
  • [10:56] You don’t want to miss out on social security by not having an earned income. 
  • [11:50] The minimum you want to pay yourself a year is $7,000 assuming you are making money in the company.  It is an individual basis.  
  • [12:28] What is the benefit of extending? By October 15th they have usually selected those to be audited, so you have a slightly less chance of being audited.  
  • [13:01] If you are investing in some of the alternative investments you’re not going to get your information to file a correct return until that date anyway.  
  • [15:37] We are dealing with when you have too much money and your tax burden is high.  How you invest can reduce some of that burden. Weldon talks about real estate and oil and gas investments.
  • [16:48] Real estate can be limited based on your income if you are not a real estate professional.  Oil and gas is not going to be limited.  
  • [17:53] Taking risks really depends on your risk tolerance and what kind of investment you want to make.   Oil and gas is not an investment for everyone because you are not going to get cash out of it for a while.  
  • [19:24] Gas and oil is a true supply and demand commodity.  We are always going to need petroleum products.  Weldon and Loral both think it will recover, but are not sure on the timing.  
  • [21:31] As of right now PPE loans will be taxed to you on your bottom line.
  • [22:29] Weldon doesn’t recommend transitioning to a C Corp but adding a C Corp to your repertoire of entities can be a very useful and beneficial tool to level as an income. 
  • [24:55] Privacy is going to become really key.  
  • [26:01] The operating entity is the most important one to set up first. Then the real estate company would be next and the third priority would be setting up the C Corp. For most people it works better to do these in phases.  
  • [27:16] The rules for deductions is that it has to be ordinary and necessary and the primary purpose of that expense has to be for the production of income for the company. 
  • [27:09] Business owners really need to change their mindset. Instead of saying this is not deductible, saying what do I need to do to make this deductible.  How do I have to treat this expense to make it deductible? 
  • [28:19] For business trips to be deductible you have to document what you are doing, and why it’s a business trip. You have to be able to document the primary reason for the trip was for business. You need to keep some documentation.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Weldon’s Website

Oct 2, 2020

This last quarter gets super busy and we often forget what we need to be doing to wrap up the year.  We are going to use this show to talk about financial infrastructure. Today I am going to present a lesson on the basics that have to be done during the last quarter and mostly by mid-November.  We are going to make a checklist to walk you through the steps. Most of these end of the year tasks are nonnegotiable including tax preparations.  

Your financial infrastructure is based on your entire life. In this episode, Loral breaks down the steps you need to start taking now.  She also talks about the highest financial priorities and changes you need to make that will have a huge impact on your financial infrastructure in the short and long term.  

Show Notes:

  • [01:21] There are a lot of exciting things coming up in the next month.  
  • [02:58] You always need to be open and in a marketplace.  
  • [05:35] Loral is going to present a lesson on what you need to get done this last quarter.
  • [08:12] When the holidays land does affect your financial planning.  
  • [08:45] Your financial infrastructure is based on your entire life.  
  • [09:48] Right now you really have a chance to add extra revenue.  What is your income today and what do you want it to be in 2021?
  • [10:21] You need a business on the side to make extra revenue and take deductions.  
  • [11:12] Everyone should have their first entity by the end of the year.  In most states that is an LLC.                            
  • [11:51] Many of us pay out of our personal account because our business isn’t making any money.  So you need to fund it and pay from your business account. 
  • [12:34] Right now is the time to do a big check-up.  Where are your income and expenses?
  • [14:39] Building assets is the highest priority.  You make it and invest it and then you make and spend to pay down debt.
  • [16:22] Debt is critical.  You can’t be out here making new money and paying off debt.  You have to make it and invest it and start that pattern with your kids.  
  • [18:02] Making money is your real answer. 
  • [19:01] You need to have two banks that you are banking with, if not three.  She recommends a local small bank for fast cash. 
  • [20:37] You should be meeting once or twice a year with a tax strategist. 
  • [23:24] Look at your entity as a vehicle for moving income and expenses out of it.  Don’t close entities that are not in use. Save them for another time.   
  • [25:44] Flip is a place for a bank, but it is one of your easy first investments. 
  • [28:53] Start setting some financial goals now.   
  • [30:06] Use our team for your infrastructure.  
  • [32:44] Spend the time and money to do the credit repair if you need it.  
  • [33:28] Your job is to focus on making money, investing the money, and leading your team.
  • [35:56] Use this episode as a resource and listen to it over and over again.  The checklist will help you get organized and started.  
  • [38:09] We are going to see more volatility this fall.  It will be a confusing time, but the market is going to move.     
  • [39:29] Now is a good time to dump all the coins because the banks are taking them.  It is a great option to use the coins to start an account for your children.  
  • [42:31] Next week we are really diving into entities including the details and the sequence. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast

 

Sep 17, 2020

As a general rule, those who typically become successful entrepreneurs are the people who come up with unique solutions to problems or challenges. This rule has continued to be proven true, again and again, in the technology space, especially as the world becomes more accustomed to the “here and now” provided by the increasing ease and portability of devices.

Along with the innovation model, technology has enabled the “fast cash” model to start popping up in completely new ways. As a result, a completely new wave of start-ups have appeared that allow all of us to make money on the side with our spare cash, our extra space, or our vehicles when we’re not

In this episode, Loral is talking about the Fast Cash Model.  Adam and Thomas share their wisdom as well.  We talk about ways for kids and adults to make fast cash.  We also talk about great ways to start making fast cash now and finish 2020 strong. 

Show Notes:

  • [02:57] What in your ask-tell-ask is right there and really quick. 
  • [03:59] Fast cash is if you needed money by tonight. We need to have an urgency to cash.
  • [04:04] If you keep telling yourself you don’t have enough to save them you will never have enough to start saving for retirement. 
  • [06:19] Right around your community you could get fast cash. It is just trading time.  
  • [07:05] Another place to earn fast cash is online.  
  • [07:52] Often we avoid the initial sale because we want more money for the work.  It is a database building.  
  • [09:59] Daily we are giving our stuff for free when someone would gladly pay for it.  
  • [11:15] Listen to what people are saying. That is their problem.  People will always pay money to fix their problems.  
  • [11:28] Consolidated information into a new bundle and selling it is brilliant and saves people tons of time.  People don’t have the time to find the information so they will pay you for it.                               
  • [14:01] Twenty dollars doesn’t sound like much, but when you get ten or twenty people purchasing your product or service it really adds up.  20 dollars is nothing for people, but if you get $400 that changes everything. 
  • [16:11] There is a value to paying.  The exchange of money creates the value.  
  • [19:09] You're not starting with your big ticket item. It is like the end cap item at the grocery store to get the conversation started. 
  • [21:22] Think about what your skill is and what you do everyday.  
  • [23:52] When you're making fast cash it doesn’t necessarily have to be within your wheelhouse even. 
  • [25:37] Adam shares a story about a guy that wanted to bring goodness to other people. 
  • [28:13] He shares about how the guy had one million dollars in his bank account one week after filing bankruptcy. 
  • [29:41] If you don’t have something to sell then be an affiliate.  
  • [31:51] Inside your own dialogue you need to create the urgency to make money.   
  • [33:01] We need to get out of the make it, spend it pattern and get into the make it, invest it pattern.  
  • [36:35] Most of us don’t know what to look for because we have never looked at a deal before.     
  • [37:10] Take this time to look at deals from an educational standpoint.  
  • [38:26] You can do a lot of things to get your cash away from your spending habits.  
  • [40:36] Check out the upcoming tables.  
  • [43:01] The Virtual Meetup and Marketplace and Graduate Marketplace are coming up soon. 
  • [45:15] The goal is for you to learn all these things so you are not strapped to a desk and someone else giving you a paycheck.  
  • [47:47] Ask the question why because that why becomes an opportunity.  
  • [49:31] We are heading to the finish line and there is a lot to do.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast

Sep 10, 2020

We have a number of guests with us today. We have several of our top finishers from the Virtual Meetup and Marketplace in August, but we also have a very special guest, Joe Hamel. Joe Hamel is the president and founder of Hamel Advisory Services. 

Many people have heard of self-directed IRAs but they don’t have them in place. It doesn’t matter if you have a lot of money to start.  Just put in $50 and get it going.  Once you start making money you need a place for the new money to go. There needs to be a place to put it away so you don’t spend it right after you make it.  

In this episode, Joe shares the kind of qualified plans you can open. He talks about the differences between a traditional and Roth IRA. Then we finish the episode with Erin and Deborah sharing their success and top takeaways from the Virtual Meetup and Marketplace. 

Show Notes:

  • [01:54] It doesn’t matter if you have a lot of money to put in a self-directed IRA.  Start with $50 to get it going and so you have a place for the new money to go.  
  • [03:19] A lot of people are waiting for some magical moment and that isn’t going to happen because you keep spending your Monday.  
  • [04:04] If you keep telling yourself you don’t have enough to save them you will never have enough to start saving for retirement. 
  • [04:17] An IRA is your own individual retirement account.  
  • [05:00] Joe suggests having an IRA that is completely removed and not connected to your checking account.  It is important to start even if it is small amounts. 
  • [07:54] When you set up a self-directed IRA you can inject capital through the form of contributions or the form of a rollover from a former or existing IRA. 
  • [08:21] Depending on your age, the contribution limits do change. Right now $6,000 is the maximum contribution each year, but there are no minimums.  
  • [08:55] The biggest difference between the Roth and traditional IRA is the taxation on those accounts.  
  • [09:13] The traditional IRA is an account that has not been taxed on the front end.
  • [10:50] You can always remove money, but there is an early distribution penalty prior to 59 ½ years. 
  • [11:33] If you have not taken any distributions at the age of 70 ½ the IRS will require you to start taking at least the minimum distributions.  Once you are 70 ½ you can no longer make contributions to a traditional IRA either. 
  • [13:42] On the Roth IRA you are going to pay taxes on the initial contributions during the first five years.  
  • [14:54] The early distribution penalty applies to both traditional and Roth prior to age 59 ½. 
  • [15:55] With the Roth IRA you are paying taxes upfront on the initial amount. With the traditional IRA, you pay taxes at the end. 
  • [16:44] With the Roth IRA there is no 70 ½ requirement.  
  • [17:44] The biggest difference between the Roth and the traditional IRA is the amount of taxes.
  • [20:02] If you are no longer employed that money can be moved out of a qualified 401K account into a qualified self-directed vehicle of your choosing. 
  • [22:01] The first step is just to take action and open the IRA account that is right for you. 
  • [23:27] Roth IRA is a great vehicle because there are not taxes as long as you make your contributions and adhere to the IRS rules.  
  • [24:44] You want to make sure you keep your retirement money in a retirement account and don’t use it for quick fixes.  
  • [26:34] Solo K is a great self-employed plan. It is created for a small business owner. It functions just like a 401K would work for a major employer.  
  • [28:15] The Solo K allows you to make contributions to both the traditional and the Roth. It also has the ability to take out a loan.
  • [30:39] Instead of paying your children allowances you can make contributions into their Roth IRA. It is a great way to give your kids a jumpstart.
  • [31:51] A flip account is a great way to save cash instead of a savings account.
  • [34:38] Joe’s company holds everything in house as a custodian. 
  • [36:11] They are one of the only custodians out there that are willing and able to accept some of the new and emerging asset classes. 
  • [38:47] We have to complete the tasks on our checklist to actually see results.
  • [40:27] We are going back to our Virtual Meetup and Marketplace for the rest of the episode. New options to join the Virtual Meetup and Marketplace or the Graduate Marketplace this month and in the coming months. 
  • [43:01] Megan won the last Virtual Meetup and Marketplace. She made over $8600. We will be featuring Megan at another time. 
  • [43:41] Erin was in second place and Deborah was right behind her in third place by only $20.
  • [44:03] Erin sold $941 of her summit and her life coaching. Erin learned about marketing, the pitch, tax structures, investments, and how to grow her business.  
  • [45:59] Prior to the Virtual Meetup and Marketplace, Erin was doing everything incorrectly and now her mindset has completely changed.
  • [46:17] Deborah sold name drawings and logos and made over $800 and really built her momentum.
  • [47:57] Erin learned to start selling now and not wait. 
  • [48:30] Deborah learned that she had a lot of avenues already at her fingertips.
  • [49:23] The obvious is right in front of you.  You just haven’t decided to monetize it.
  • [50:58] Erin’s motto is “first the courage, then the confidence.” Have the courage to put yourself out there so you build up that confidence. 
  • [51:49] Put yourself out there and stay the course.  
  • [54:35] The two calls of action are to get a call with Joe and then get signed up for the Virtual Meetup and Marketplace or the Graduate Marketplace.

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Joe’s Website
Three Feet from Gold

 

Sep 3, 2020

On today’s episode, I am joined by Eileen E. Galbraith also known as the Credit Gal.  We are going to talk about your credit, business funding, and ways to fix your finances right away.

Eileen E. Galbraith is your Savvy Credit Business Woman, aka The Credit Gal. She works with individuals and small business owners, specifically with those who are seeking to grow their business. Entrepreneurs hire her to maximize their capital because most are turning over couch cushions to invest in their business, putting their families, credit, and growth at risk. So, she positions them to get the money they need, protect their assets, and leverage their genius. 

In this episode, we start out talking about personal credit because it is the foundation.  We talk about optimizing your own personal credit to build your business credit.  Eileen talks about beginning steps to make your business official so you can become a fundable and creditable business.  

Show Notes:

  • [00:58] Eileen E. Galbraith is your Savvy Credit Business Woman, aka The Credit Gal.
  • [01:27] The very first thing you want to do is get a copy of your personal credit report and continue to get your credit report every year. 78% of credit reports are wrong.   
  • [02:01] Your credit follows you everywhere.  
  • [03:39] You want to make sure your personal data is correct and optimize these areas. 
  • [04:02] After you verify your personal information you then need to check all your accounts are reporting properly. 
  • [04:58] Once we have maximized your credit report, we look at if there are any ways to optimize your credit score. 
  • [05:59] Your FICO credit score goes from 300 to 850. 
  • [06:22] You want to make sure your business is fundable and creditable.  You also need to be incorporated around your EIN. 
  • [07:28] Then open your business checking account using your business documentation and EIN right away. 
  • [07:52] The underwriting guidelines say your business opened the day you opened your business checking account.    
  • [10:12] 35% of your FICO score is how you pay your bills.  
  • [10:55] Your goal should be to use less than 20% of the credit you have available. 
  • [11:57] There is only one determining factor for business credit and that is how you pay your bills.  
  • [12:50] You want to have a D-U-N-S number for your business.  
  • [15:04] The beauty of business credit is that you can get the business credit lines and credit cards without personally guaranteeing them.  If someone comes to sue your business they can’t come after you on a personal side.  
  • [16:58] Eileen recommends three to six months of reserves in your personal and business world.  
  • [18:12] The more address you have listed on your credit report the harder it is for the underwriting to get your qualified.  The goal is to have two addresses. 
  • [19:04] Your bank account should be set up in the name of your corporation.
  • [20:36] Many use a personal credit card in the beginning before they transfer that to a business credit card and that can be used to verify funds. 
  • [22:27] You can dispute anything that is inaccurate, misleading, or erroneous on your credit report.  There is a process to follow to dispute something. 
  • [24:13] It does take time to reverse errors on your credit report.  Prior to COVID dispute letters had to be responded to within 30 days. Since COVID they have a 45-day window to respond back. 
  • [26:37] When you join a network marketing company you want to start an entity as soon as you can. You also want to set up the business checking account and all the commissions should go into this account.  Any expenses should go through that same account.
  • [28:04] You can text or call Eileen to book a free 30-minute consult at (610) 609-1526 or eileen@thecreditgal.com
  • [28:55] Entrepreneurs don’t realize how important it is to establish their business in the name of their business and how much it can benefit them. It is something you want to start now instead of later because it is going to give you so many more options to grow your business.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
The Credit Gal Website
Eileen on LinkedIn
Annual Credit Report

 

Aug 20, 2020

Every week we interview world leaders in different categories and in this episode we are talking about one of my favorites… cannabis.  We are going to talk about what’s beyond the mainstream.  Mainstream knows a lot about cannabis not only from a use standpoint but also from a financial standpoint. Cannabis is going to become one of the greatest asset classes many countries have ever seen.  

Joseph is joining me in this conversation.  He has been in the industry since he was a teenager.  He is currently leading a huge project in Hawthorne, Nevada.  

In this episode, we talk about the different types of cannabis including the classifications.  We also taught about the medicinal value and numerous medicinal benefits without side effects.  Joseph shares a ton of information that will be beneficial if you are considering adding this as one of your asset classes.  

Show Notes:

  • [01:04] Cannabis is going to become one of the greatest asset classes many countries have ever seen.  
  • [01:49] Since you can’t learn about cannabis in college Joseph attributes his success to his great mentors.  
  • [03:16] Joseph got to where he is today by having great mentors, working with great people, and taking the leap to work for himself.  
  • [04:21] In 2009, he moved to Colorado to grow cannabis with his wife.  He wanted to create his own wealth.  
  • [05:01] Once he learned about the huge medicinal benefits and the relief people received, his perspective switched and his business became all about helping people.  
  • [06:47] The mainstream is not really talking about the medicinal value of cannabis including the ability to use cannabis daily without the side effects.  
  • [07:40] There are over 450 compounds in these plants and they are still constantly learning more.     
  • [09:21] Everything is a hybrid. There are many different varieties. 
  • [10:51] They can grow hemp for fiber or grain or CBD oil.   
  • [11:45] There is an observation classification (narrow-leaf or broad-leaf) and a drug type classification.  
  • [12:58] Everybody is trying to find their place in the industry.  
  • [14:38] Tricrops have fiber, grain, and CBD. 
  • [15:36] The seeds have many uses including food and feed for animals. 
  • [15:52] In World War II we needed rope and people were subsidized to grow hemp for the government so we could go to war.  Then it just vanished.  They changed the law and made it illegal.  
  • [17:41] Cannabis relieves cravings and helps with addiction and withdrawals.  
  • [18:20] Cannabis can replace that desire and addiction and you are functional.  
  • [19:22] Joseph shares how cannabis has helped in his life with addictions and injuries.  
  • [21:38] There is a ton of misinformation about cannabis.  
  • [23:09] He shares about the impact on seizures even in children. Research in Israel is backing this up.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Dr. Dedi Meiri - Cannabinoid research in Israel
Robert Clarke

 

Aug 13, 2020

This is another special COVID-19 marketplace awareness broadcast. We are the place to keep you up to date on what is going on in the market. Specifically for entrepreneurs who need to make money in this ever-changing time, come here with any questions you have and we will have or find the answers.  We will continue to bring you amazing experts that share their expertise and perspective on what is going on in the market today.  Today I am joined by Fuquan Bilal.  Fuquan is the founder and CEO of NNG.

Fuquan Bilal founded NNG in 2012 with the principal mission of capitalizing on the growing supply of mortgage notes in the interbank marketplace. Mr. Bilal utilizes his 20 years of residential and commercial real estate success to identify real estate opportunities and capitalize on them. To date, he has successfully managed three private mortgage note funds that primarily invest in single-family performing and non-performing mortgage notes. His financial acumen and proprietary set of investment criteria enable him to purchase under-performing real estate assets at a deep discount of face and market values, thereby increasing the value of the assets. This, coupled with his ability to maximize the use of leverage, enables him to build strong, secured portfolios with solid passive income flows. Fuquan effectively hedges investors' risk by spreading their investment across a portfolio of alternative assets that diversify and stabilize the fund's return and valuation.

In this episode, we talk about many different opportunities for making money in the current real estate market.  Fuquan shares about the trends and changes he is seeing in the real estate market. He also shares his out of the box ways to invest in real estate in the current market.  

Show Notes:

  • [01:13] Fuquan Bilal is the founder and CEO of NNG.
  • [03:12] He took a leap of faith and left his corporate job and got into the house hunting business. 
  • [04:20] He realized the power of real estate. One thing that really resonated with him early on was the power to go back into his community and revitalize communities by fixing up properties.
  • [06:14] He went through a time of struggle because he didn’t have a good foundation. He had multiple streams of income but no cash flow.  When the market crashed, he started to restructure.  
  • [07:43] The real estate investments he has are local where he has developed relationships already. 
  • [09:12] Diversified hybrid real estate investing is having different asset classes in the same fund. He has his capital secured by different types of assets.  
  • [10:32] Once COVID hit the landscape of everything changed.  
  • [11:49] The real estate market is on fire right now.
  • [13:29] He has noticed more New Yorkers moving to other areas and commuting in for work.  
  • [14:38] Many new investors are pivoting to buy a lot and doing new construction since there are not many available properties.  
  • [15:46] Manhattan will likely take a decline but will stand strong.
  • [18:08] If you are participating in some of the programs they have for landlords now you definitely want to read up on the details.  You only want to use the money if you need it. 
  • [19:47] Unfortunately many businesses didn’t make it to the other side. 
  • [21:32] Grab Fuquan’s book, Passion for Real Estate Investment. 
  • [23:02] The note business is the best investment strategy in the universe.  
  • [23:37] Check out the coming Virtual Meetup and Marketplace. It is the teach you to fish model that you will never starve again once you learn our techniques.    

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Passion For Real Estate Podcast
Passion for Real Estate Investments
Fuquan on LinkedIn
Fuquan on Twitter
Fuquan on Instagram
Fuquan on Youtube
Fuquan on Facebook

 

Aug 6, 2020

This is our special COVID-19 market awareness broadcast. We have been broadcasting since the beginning of this new journey and the new world we are living in.  We have been talking about becoming an entrepreneur and what to do with your real estate and money.   Unfortunately, it is not going to get any easier.  Going back is not going back to the way we know it.  So much has changed.  It is a great time to reset your life and figure out who you want to become.  Raymond Aaron is joining me on the show today.  

Raymond Aaron has committed his life to teaching you how to dramatically improve your life. Raymond transforms your life and income by helping you tap into your own potential. He has traveled the world delivering over 5,000 speeches in 5 continents for over 1/3 of a century teaching his unique methods to brand, doubling your income, and creating wealth. He is the author of 138 books, including Branding Small Business For Dummies, Double Your Income Doing What You Love and the New York Times best-seller Chicken Soup for the Parents Soul and the Canadian best-seller, Chicken Soup for the Canadian Soul. 

In this episode, we talk about many different opportunities for making money in the current market.  We share what we are seeing with real estate. We spend most of the episode talking about the importance of branding and how writing a book can enhance your brand.

Show Notes:

  • [01:42] It is a great time to reset your life and figure out who you want to become. 
  • [03:12] Raymond shares about his journey.  
  • [05:13] He has been teaching real estate, true-life principles, true wealth principles, branding, book writing, and goal writing for 37 years.  
  • [06:56] They pivoted to online events, but they also had a back-up plan. They joined a network marketing plan as their back-up plan.  
  • [07:24] If you are in network marketing right now, you are earning more money than you have ever earned in your life because now people have been buying only online for the last four months.  
  • [09:25] Raymond predicts that retail real estate is going down and won’t recover because people have learned to buy online.  Office real estate is going down because owners are thriving without an office. 
  • [11:09] He recommends getting into the courier business.   
  • [12:43] The pandemic is the only thing that has ever affected the whole world.  
  • [14:01] Every category is open to making money right now.  There is so much to buy right now.
  • [16:01] There are no differences in the Canadian and American markets economically. Canada is different in many other ways.   
  • [18:19] More entrepreneurs can be born out of this time and more wealth will be transferred for those who are paying attention. 
  • [20:59] Whatever you want to start you must be branded first otherwise you are drowning in the sea of sameness.  
  • [21:13] When you are branded by writing a book the world stops and salutes you.
  • [22:29] Writing a book is the easiest way to brand yourself. You don’t make the money by selling the book.  You make the money when the book sells you.  
  • [25:26] The brand determines how much money you earn not your abilities. 
  • [27:26] It is easier to become a #1 best seller on Amazon then the New York Times.  
  • [30:22] There have been so many creative ideas since the pandemic started.   
  • [30:52] Raymond will be teaching about the 31 marketing messages that need to be hidden within your book.  
  • [31:19] It’s the marketing that drives the sales, not the actual quality of the product.  
  • [32:26] Raymond teaches how to get a book launch and have the publisher pay for it.  
  • [34:54] Loral talks about how she misses flying to some of her favorite places in the world. 
  • [36:42] There is a problem when people haven’t walked the walk, but they think they can talk the talk.  You need to walk the path before. 
  • [37:35] Loral’s favorite insight was “that the world has been punched in the face.” 
  • [37:56] You need to land on the right side of this rebalancing of the economy.  You need to be understanding of how to find these deals and what to look for. 
  • [39:29] Right now is a perfect time to be a solution provider and help businesses with what they need.  
  • [43:41] Check out the Virtual Meet Up and Marketplace and the Graduate Marketplace. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Raymond’s Website

 

Jul 23, 2020

Today we are in the most indiscriminate crash in the history of our lives. If you have the will to make money and be ethically through it, you can make money. I am talking about financial empowerment and the steps you need to take so you can take advantage of this indiscriminate market. You need to grab a pen and paper for this episode. I share many practical ideas so you can leave with a plan. 

Today I am sharing a webinar with Raymond Aaron. Raymond is a New York Times Top 10 best selling author. He has been on stage for 37 years helping people write books, increase their credibility and branding, and understand the spiritual universe. 

In this episode, I am talking about financial empowerment and taking action. How do you act, make money, and think the way the wealthy do? I answer this question and talk about practical steps for becoming a millionaire in 3-5 years. I talk about bitcoin, cannabis, hemp, digital currency, and so much more. 

Show Notes:

  • [00:41] Raymond Aaron is a New York Times Top 10 best selling author. 
  • [02:54] Loral has been a multi-millionaire for 20 years and standing.    
  • [04:35] She is talking about ways to make money in three days.  
  • [06:21] Loral was filmed for the movie The Secret and got into the final edit. She is a millionaire maker.  
  • [08:29] Loral has 52 books and five hit the New York Times.  
  • [10:11] Instead of focusing on what you can’t have in the struggles, you focus on what you can have.  
  • [12:54] Loral grew up on a farm in Nebraska. At 17, she received the book Think and Grow Rich and it changed her trajectory.  
  • [14:19] In 1996 she really started studying money. She got a finance degree. She realized that working a traditional job was not for her. 
  • [15:45] You can totally become a millionaire. You just have to do the steps in the right sequence. 
  • [18:09] Some of the things we have been taught and the way we think about money is completely wrong.
  • [20:02] This is your opportunity to change from being an employee to being an entrepreneur.
  • [22:03] Today we are in the most indiscriminate crash in the history of our lives. If you have the will to make money and be ethically through it, you can make money.
  • [23:32] Who am I? Who am I going to be on the other side of this? I have the trajectory to change my entire life.  
  • [25:52] Digital currency is here and you are going to have to engage in it. 
  • [27:27] Big asset classes right now are digital currency, the stock market, businesses, real estate, hemp, and cannabis. 
  • [29:27] First, you are going to keep making money. Get as lean as you can with your personal accounts and assets.  
  • [31:56] Pivot to new cash and get as much as you can. 
  • [34:18] We are taught to go to school and get a job. We put a portion to a retirement structure, where we get taxed to pieces and live off the crumbs. 
  • [36:26] Be an entrepreneur and be the boss!
  • [37:29] You are going to take on good debt to become a millionaire.   
  • [39:21] You have to have decision making, sequencing, and some common sense. Not difficult, but it has to be in the right order. 
  • [41:29] You find places in your community that you can’t imagine living without and you invest in them.  
  • [43:29] Companies make money. Individuals get taxed.
  • [45:20] Colleges are teaching us to be employees. With a CEO mindset, you can look for teammates.
  • [47:41] As an employee, it is a fixed income. As an entrepreneur, you can have an unlimited income.  
  • [49:06] There are so many direct sales businesses all over the world that you can do. 
  • [50:45] Real estate deals are everywhere.  
  • [52:31] Many people make decisions based on their bank balance versus the projected money you can make.    
  • [54:52] All of you have the ability to make money, you just haven’t been taught. You haven’t been taught to ask for money. You man is not your plan for financial freedom.  
  • [56:02] Your own business and database are one of the greatest assets you will ever own. 
  • [59:09] Challenge where you put boundaries around yourself.
  • [60:13] Loral wants us to get to the place where making money and keeping money is just what we do.
  • [62:11] You are going to find your tribe in Loral’s tribe especially as they get to know you and find out what you need and don’t want. 
  • [62:47] Everyone should write a book.  It is your brain on paper and makes you credible. You want your book to be the top of your funnel.   
  • [64:17] She brings a ton of people to the Marketplace because they have to teach you how to make money. It starts with a new business model.  
  • [67:16] Loral loves the residual income that comes from direct sales.  
  • [68:02] Yes energy is when you say yes and you have no idea what to do because then you figure it out. Then it is time to get creative and find resources.  
  • [69:24] We don’t focus on making six figures. We focus on making $500 a day.  
  • [71:14] Business and money are in your life every day. Why are you doing it alone?
  • [73:09] It is not self-driven, it is customer-driven. You don’t control but instead, provide leadership. 
  • [74:36] Making money and investing money is where most people go wrong. Instead of making it and spending it, you should make it and invest it.  
  • [76:32] When you say yes, you start getting creative about who is going to help you. You need to lead more and do less.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Raymond Aaron
Think and Grow Rich

 

Jul 16, 2020

Today I have Ezanne with me.  We met 10 years ago in South Africa.  Now she lives in Canada.  She has had an enormous journey of learning and sharing.  She is here to talk about the business side and how her background can help you. 

Ezanne Swanepoel has been primarily working in Africa for the last twenty years.  She was born and grew up in Africa and also engaged in Europe and some Asia countries over the last twenty years.   Ezanne is one of the leading money and empowerment experts helping people strip the blockages and filters that prevent them from unlocking their path to prosperity, fulfillment, and contribution. 

Ezanne shares her different experiences and perspectives from growing up in Africa and living in the United States and Canada.  She teaches people how to make and keep money while making an impact.

Show Notes:

  • [02:18] African children are traditionally named after places, spirits, ancestors, events, or anything occurring during the time of their birth.  They believe a name can influence both the life of a child and family, so choosing a name is done with great care and consideration.  
  • [03:20] Ezanne means the good, righteous mother.    
  • [04:35] She has known that her calling since birth is to help people and businesses to unlock their path to prosperity, fulfillment, and contribution by serving the greater good.  
  • [06:08] There are significant differences in other cultures around money.  In Africa, it is all about collaboration.     
  • [06:57]  Africa is a “we culture,” so when you earn money it is for sharing and uplifting of everyone.  
  • [07:50] People in America have a significantly different relationship with money in general than Africans.  
  • [09:12] Looking at the U.S. and Africa as a whole, they have more enterprise thinking than Canada.  
  • [11:01] When people view things as scarce, they don’t see a possibility to even angle in that avenue.  
  • [11:16] People err on caution when speaking about money. In general, very few people are willing to speak about their financial situation or understanding money.  
  • [13:15] Creating financial wealth is complex.    
  • [15:28] It is important to identify the right people to speak to and then collaborate with in order to sustain wealth creation.  
  • [15:43] Once you learn how to make money and keep it, then you need the right team to support you in sustaining that approach.
  • [16:17] We have to start by shifting the mindset from the why not to the why yes.  This seems easier said than done because people have a lot of programming from their past. 
  • [17:02] The first step in eradicating fear is gaining more control of your situation.  You can’t feel in control if you don’t even understand your situation.  
  • [17:40] You need to start creating more cash in order to get you to that place where you need to go.  Ezanne does research on the wealthiest people in the world. 
  • [19:01] As you become more and more successful, life will definitely give you some curveballs.  
  • [20:17] The first step in collaboration is to be clear on the parties that are involved and why they are involved.   
  • [22:08] In America and Canada there are more decided relationships with a particular intent. 
  • [23:32] Ezanne wants to serve from a North American perspective.  
  • [24:12] She wants to help people on a large scale shift from their financial struggles during COVID.  
  • [24:29] We owe it to ourselves to wake up and step into our authentic selves and to serve with the unique gifts that we came to earth with. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Ezanne on Facebook

 

Jul 9, 2020

Today I have an amazing new client with us. Her thinking and brains are amazing, Anita just jumps on and starts sharing.  I am so excited to have Anita Vanderhaeghe with me on the podcast today.  

Anita Vanderhaeghe is an Astro-wealth and health coach.  She is a modern sage and expert business mentor that integrates the best of the physical universe strategies with spiritual universe wisdom.  She is bridging the world of business, strategic planning, and intuitive management and incorporating those using eight ancient sciences and astrology.     

Anita has done a lot of different work from being a Bloomingdale’s fashion designer to working on marketing teams behind the scenes.  She uses her business strategy and experience combined with her knowledge and passion of astrology.  

Show Notes:

  • [02:20] Her dad owned many businesses and gave Anita the entrepreneurial spirit.  
  • [02:54] She came to what she is doing now by combining her marketing background and love for ancient sciences and astrology.    
  • [05:50] Everything has a negative and a positive charge, so you can choose to use the energy positively.  
  • [07:08] Throughout our childhood we are told that we don’t know our gifts, so we lose our knowing. You can get back to what you loved to do as a child.  
  • [08:27]  Everyone has a personal inclination that is a gift they have chosen that they can share with the world.  
  • [10:54] Saturn, Pluto, and Jupiter are all in Capricorn. Capricorn rules business, big banking, and a need to restructure things.  
  • [11:36] We are not looking at things holistically.  
  • [12:25] Astrologically we have this restriction happening at the same time as an awakening to what we are going to need to do to help people.  
  • [12:49] There will be a transformation happening over the next couple of years with the way we look at health.  
  • [14:10] Astrology is the art of perfect timing. 
  • [15:34] A lot of people are going to start making unexpected decisions that they have been putting off for a long time.  
  • [15:58] You can start by looking at your sun sign and then your ascendant sign together.  
  • [16:56] Watch what is happening with the moon.  Your body is affected by the moon.
  • [17:51] Watch for eclipses, because eclipses are turning point times.  
  • [19:17] You can have the life you want if you use your gifts and if you really want to help people.
  • [20:14] Research your sign. See what different astrologers say and see which ones ring true for you.  Anita recommends Susan Miller from Astrology Zone
  • [21:52] It is good to make sure your family is secure and you have cash coming in. 
  • [24:03] When the planets are in retrograde it is like a reset or a time out to take care of things. 
  • [25:41] When Venus is in retrograde you want to review your relationships and take a look at what you are doing with your money. 
  • [26:25] Look at where your money is, what you owe, where you are making money, and future opportunities.

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Anita’s Website
Anita on Facebook
Astrology Zone

Jul 2, 2020

On today’s episode, we have a very new way to make money and be in business with a special international guest.  Breanna Sponcey was a winner in our Virtual Meetup and Marketplace and is joining me on the show today to share about her business successes.  

Breanna Sponcey grew up in Fallon, Nebraska.  She started cleaning houses at the age of nine and had her own landscaping business in high school.  She was never comfortable working for someone else, so after high school, she moved to Reno and started her own make-up business.  She did the make-up for models, photoshoots, and weddings and that led to doing theater make-up where she was head of the department on Broadway.  She had an awesome opportunity to move to Costa Rica.  Before moving she joined a network marketing business to have something to fall back on.  After a year of building that business, they were able to buy a bar that they turned into a successful nightclub and then later added their own delivery and advertising business.    

Breanna’s goal was to create three successful businesses by the age of thirty.  She shares her business experience and how she reached this goal months before her thirtieth birthday.  Breanna shares her experience creating her brick and mortar and direct sales businesses.  She also shares the key steps and techniques that have led to her entrepreneurial success.  

Show Notes:

  • [01:29] Breanna started working around the age of nine cleaning houses.  
  • [02:32] She joined a network marketing business before moving to Costa Rica to have something to fall back on since she had no idea what their plans were when they arrived.   
  • [02:46] After a year of building that business, they were able to buy a bar that they turned into a successful nightclub.  
  • [02:57] Her goal was to own three successful businesses before she was thirty and she was able to hit that goal one month prior to her thirtieth birthday.   
  • [03:24]  She is always looking for the next best thing and never wants to miss an opportunity because of a lack of knowledge or skills.  
  • [03:56] Yes moments are when you have no idea what you are doing, but you very quickly go figure it out. 
  • [04:26] Breanna won third place in the Virtual Meetup and Marketplace event. 
  • [05:03]  Breanna started watching all Loral’s videos on Facebook and knew that she needed to join the event.  Aside from all the knowledge and the money she made, the network she created was the best part.  
  • [06:03] Her goal was to add team members to her MLM team and her entry item was a raffle ticket for a VIP experience at the nightclub. 
  • [06:46] Each month in her direct sales business, she has different offers including drawings for bigger products.
  • [07:42] There are many different ways to make money.  
  • [07:55] Breanna shares about finding and building their nightclub. 
  • [09:07] They were looking for businesses they could buy.  It was tough at first and after many red flags, they finally found a bar to buy.   
  • [10:12] They outgrew their first space and started building a new space.  
  • [10:57] They purchased their space with money they had saved prior to moving and money they earned with the multi-level marketing business so they didn’t need to take a loan.  
  • [11:27] Their nightclub was completely shut down on March 16th and they don’t have plans to reopen until November based on Costa Rica’s rules for nightclubs.  
  • [13:18] The pandemic has opened a few doors that no one would have considered if not forced to pivot in this way in these times.  
  • [14:24] The biggest lesson for Breanna is to always have a support system.    
  • [14:34] It is all about doing the work, making the mistakes, taking risks to find out what works, and surrounding yourself with people that are where you want to be.  
  • [16:16] She chose her MLM because she had been using the products since she was eighteen years old, so it was a natural choice.  
  • [16:44] After working really hard for one year it became a passive income stream for them. 
  • [18:01] Her strong team has been a crucial part of her success in her direct sales business.  She provides resources and support to anyone that wants to join their team and create a business.
  • [18:21] It is the same with any business, we have to make changes constantly.
  • [18:40] You have to follow the trends that are working, drop the ones that are not, and find the next ones.
  • [19:08] Breanna’s number one tip is to get involved with a team that is already led in the way you want to be a leader.     

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
El Garito Tamarindo
Breanna on Facebook
Email Breanna

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