The Retire as You Desire SHOW - Episode # 1 - Master Debt Management & Maximize Retirement Savings

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Retire As You Desire

Bill Bloom

120 episodes

1 day ago

Navigating the ever-changing waters of life can be rough, but when it comes to retirement you don’t need to do it alone. The Retire As You Desire Podcast asks those hard questions regarding finances in preparation for your retirement with Bill Bloom RICP®, principal of Bloom Financial Company and your host. Join Bill, a money simplifier, each week by discussing intentional questions to propel you toward your desirable retirement. Understanding retirement does not have to be difficult. If you understand, then you will make better decisions on how to have a happy and successful retirement for you and your family. There is one life to live--so take the helm, plan ahead, ask questions, and tune in with Bill on the Retire As You Desire Podcast! For a list of important disclosures, please visit my website at bloomfinancialco.com. Views expressed in this podcast are for general informational purposes only and are not intended to provide or be a substitute for specific professional financial, tax or legal advice or recommendations for any individuals. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed.

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The Retire as You Desire SHOW - Episode # 1 - Master Debt Management & Maximize Retirement Savings

Retire As You Desire

45 minutes 24 seconds

1 year ago

The Retire as You Desire SHOW - Episode # 1 - Master Debt Management & Maximize Retirement Savings

Episode Summary: In this episode, we delve into the financial challenges faced by entrepreneurs and the importance of strategic saving and investing for a secure retirement. The host shares inspiring stories and lessons learned to help listeners avoid common pitfalls. Key Takeaways: The impact of compounding interest on long-term savings. The significance of making investing a monthly priority. Common mistakes entrepreneurs make with their finances. Strategies for financial education and proactive money management. Timestamps: 00:00 - Introduction Welcome back to the show and discussion of entrepreneurs' giving nature. 00:22 - The Financial Blind Spot of Entrepreneurs Most entrepreneurs lack awareness of where their money goes. 00:50 - Financial Education Gaps Society’s focus on debt rather than wealth-building. 01:34 - Client Story: Life Insurance Case A client's struggle with prioritizing a life insurance policy over luxury spending. 02:06 - Big Spending vs. Family Protection Contrast between spending on status symbols and protecting one's family. 03:10 - Friend's Financial Revelation A friend's earnings vs. actual profit and the importance of automatic investing. 04:21 - Spending on Non-Essentials The impact of spending on non-essentials like trampolines on future investments. 05:35 - The Challenge of S-Corps A successful entrepreneur’s reluctance to withdraw funds for retirement. 06:45 - Importance of Two Sets of Books Recommendations for managing business finances and personal investments. 08:00 - The Entrepreneurial Mindset The struggle between running a business and securing financial future. 09:30 - Creating a Retirement Plan Strategies for setting up automatic savings and investments. 10:50 - Conclusion Final thoughts on the importance of proactive financial planning for entrepreneurs. 11:21 - Call to Action Invitation to tune in weekly and reach out with financial questions. Contact Information: Email your questions to: [Host Email] Visit us at: [Website URL] Don't Miss: Tune in every week for new episodes, interviews, and insights to help you secure your financial future!