Info

Real Money Talks

As an entrepreneur, small business or practice owner, or high-level executive, do you ever find yourself wondering if you’re using all the tax, entity and wealth strategies available to you or if your investments are truly producing all they could be? Happily, you don’t have to put up with that any longer. I have the solution. Real Money Talks! We're having the right conversation about money.
RSS Feed
2021
August
July
June
May
April
March
February
January


2020
December
November
October
September
August
July
June
May
April
March
February
January


2019
December
November
October
September
August
July
June
May
April
March
February
January


2018
December
November
October
September
August
July
June
May
April
March
February
January


2017
December
November
October
September
August
May
April
March
February


All Episodes
Archives
Now displaying: December, 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

 

1