CFO at Home
Are your family finances not where you want them to be? That's because you don't have a CFO at home! Certified Personal Financial Wellness Consultant Vince Carter and his amazing guests discuss Personal Finance fundamentals and ways to better navigate the relational aspects of money to help listeners become the CFO at THEIR home! Want to be a guest on CFO at Home? Send Vince Carter a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/1628643039567x840793309030672500
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192. Empowering Women: Investing with Confidence and Values
03/12/2025
192. Empowering Women: Investing with Confidence and Values
On this episode of CFO at Home, Vince’s guest is Janine Firpo, co-founder of the nonprofit Invest for Better and author of the book "Activate Your Money." Janine shares her journey as an investor and her passion for empowering women to take control of their financial futures. She discusses the systemic barriers women face in investing, the significance of values-aligned investing, and the importance of community in fostering financial confidence. Janine also highlights the need for women to understand their financial situations, especially during life transitions like divorce or widowhood. To explore more about Janine's work and resources, visit investforbetter.org Key Topics: The importance of empowering women in investing Understanding systemic barriers to women's financial education The concept of values-aligned investing Community learning and support for women investors Navigating financial challenges during life transitions The significance of financial literacy in creating generational wealth Key Links: Contact the Host - Want to be a guest on CFO at Home? Send Vince a message on PodMatch, here:
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191. Navigating Finances with a CFO Mindset
03/06/2025
191. Navigating Finances with a CFO Mindset
On this episode of CFO at Home, Vince’s guest is John Cousins, founder of MBA A$AP, an online business education community that provides individuals around the world with access to valuable business skills and knowledge John shares his thoughts on the importance of treating personal finances like a business, discussing key concepts such as income-producing assets, the pitfalls of consumer debt, and the significance of financial literacy. John also dives into the complexities of student loans, the value of education versus its cost, and offers practical advice for young adults navigating their financial futures. To explore more about John's work and resources, visit mba-asap.com. Key Topics: Treating personal finances like a business Understanding income-producing assets vs. consumer debt The impact of student loans on financial health The importance of financial literacy for everyone Exploring alternative paths to traditional education Building wealth and securing financial futures Key Links: Contact the Host - [email protected] Want to be a guest on CFO at Home? Send Vince a message on PodMatch, here:
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190. Personal Injury Insights: Financial Strategies for the Unexpected
02/19/2025
190. Personal Injury Insights: Financial Strategies for the Unexpected
In this episode of CFO at Home, Vince’s guest is litigation and personal injury lawyer Jon Groth. Jon shares advice for those seeking a personal injury lawyer, discusses proactive financial steps to take before an injury occurs, outlines strategies for negotiating medical bills, and discusses the significance of having a knowledgeable insurance agent as part of your financial team. You can learn more about Jon and Groth Law Firm by going to GrothLawFirm.com Key Topics: How to choose the right personal injury lawyer Proactive financial steps to take before an injury Understanding insurance coverage and its importance Negotiating medical bills and costs The role of an insurance agent in your financial team Strategies for managing medical expenses post-injury Key Links: Contact the Host - Want to be a guest on CFO at Home? Send Vince a message on PodMatch, here:
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189. Navigating Finances in Relationships
02/12/2025
189. Navigating Finances in Relationships
On this episode of CFO at Home, Vince’s guest is Angelo Santiago, a men's marriage and relationship coach. Angelo shares practical tips on fostering open communication about money, recognizing the impact of upbringing on financial perspectives, and the necessity of shared financial goals. Angelo also shares the evolution of his relationship with his wife and the pivotal conversations that ultimately strengthened their financial partnership. To learn more about Angelo and his work, visit angelosantiago.com, and check out the Better Husband Podcast Key Topics: The role of financial discussions in marriage Understanding different financial backgrounds Navigating disagreements about spending and saving The importance of having money meetings Building trust and respect in financial management Practical tips for effective communication about money Key Links: Contact the Host - [email protected] Want to be a guest on CFO at Home? Send Vince Carter a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/1628643039567x840793309030672500
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188. Financial Literacy for the Next Generation: Lessons from Cradle to Credit
02/05/2025
188. Financial Literacy for the Next Generation: Lessons from Cradle to Credit
On this episode of CFO at Home, Vince’s guest is Sharon Soliday, a passionate advocate for financial education, particularly for young people. Sharon shares her own journey growing up with limited financial resources and how it shaped her desire to help others learn valuable money lessons. Sharon’s book "Cradle to Credit," emphasizes the importance of teaching kids financial concepts from an early age, and provides practical strategies for parents to engage their kids in age-appropriate discussions about money that resonate with them. Sharon and Vince discuss budgeting, allowances, the value of work, the significance of investing, and more. For more insights from Sharon, check out her website SharonSoliday.com Key Topics: Sharon's journey to financial education The importance of teaching kids about money early Practical strategies for budgeting with children The role of allowances and chores in financial literacy Encouraging work ethic and responsibility in teens Engaging kids in investing through relatable examples Key Links: Contact the Host -
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187. For the Investment Curious
01/22/2025
187. For the Investment Curious
On this episode of CFO at Home, Vince’s guest is Kurt Altrichter, the founder of Ivory Hill, a fee-only fiduciary financial advisory firm. Kurt and Vince discuss the importance of managing cash flow, understanding risk tolerance, and the often-overlooked "do nothing risk" of not investing. Kurt also provides insights into the challenges faced by individuals who are hesitant to invest and the value of having a financial advisor to navigate market volatility. You can learn more about Kurt and Ivory Hill by going to IvoryHill.com. Key Topics: Challenges Faced by Non-Investors The Importance of Cash Flow and Risk Tolerance Understanding "Do Nothing Risk" and Inflation The Role of a Financial Advisor Selecting the Right Financial Advisor Managing Emotions in Investing Key Links: Instagram - Facebook - Follow Kurt on Twitter Explore Kurt's insights on Substack Contact the Host -
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186. Money, Relationships, and Control: Insights from a Relationship Coach
01/08/2025
186. Money, Relationships, and Control: Insights from a Relationship Coach
On this episode of CFO at Home, Vince’s guest is Valerie Greene, a relationship coach with a wealth of experience in helping couples navigate the complexities of money and relationships. Valerie shares her personal journey of learning to resolve conflicts, and how it led her to become a relationship coach. Valarie and Vince also dive into the deep-seated issues that money often represents in relationships, such as control, security, and personal values. Valerie provides insights from her extensive training with relationship experts and shares case studies that illustrate how couples can move beyond surface-level money arguments to understand the dreams and values underlying their financial disagreements. To learn more about Valerie and her work, check out CoachValerieGreene.com and The Soul-Shaking Love Podcast Key Topics: Valerie's journey to becoming a relationship coach Understanding what money represents in relationships The role of control and security in money arguments Case studies: Resolving financial disagreements through empathy and understanding The importance of validating each other's dreams and values Practical exercises for couples to improve communication about money Key Links: Contact the Host -
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185. Child-Free Wealth: Rethinking Financial Independence
01/01/2025
185. Child-Free Wealth: Rethinking Financial Independence
On this episode of CFO at Home, Vince’s guest is Bri Conn, the Chief Experience Officer of Childfree Wealth®, a life and financial planning firm dedicated to helping Childfree and Permanently Childless people. Bri and Vince dive into key financial considerations for the childfree, including how childfree individuals can optimize their time, money, and freedom, the importance of having a plan for long-term care, the concept of legacy beyond traditional generational wealth and the importance of estate planning. Bri also shares tips on how to engage in sensitive conversations with childfree individuals, and the value of understanding their unique financial challenges. For more insights, check out the Childfree Wealth Podcast co-hosted by Bri and Dr. Jay Zigmont, and Dr. Jay’s new book, "The Childfree Guide to Life and Money”. Key Topics: - Introduction to Childfree Wealth - Defining Childfree vs. Childless - Financial Planning Considerations - Die with Zero Approach - Flexibility and Home Ownership - Investment Goals for the Childfree - Long-term Care Planning - Legacy and Estate Planning - Sensitive Conversations with Childfree Individuals - Book - The Childfree Guide to Life and Money Key Links Contact the Host -
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Bonus - Wrapping Up 2024 and What's Next for CFO at Home
12/04/2024
Bonus - Wrapping Up 2024 and What's Next for CFO at Home
As the year comes to a close, CFO at Home is pausing for the month of December. New episodes will resume on January 1st, featuring interviews with money experts on topics such as wealth building, investing, money and relationships, and more. In 2025, expect a mix of interview-based episodes and short educational segments designed to enhance your CFO at Home skills. With 184 full episodes and bonus content available, now is the perfect time to catch up on any you’ve missed. Visit thecfoathome.com to explore episodes by topic. Enjoy the holiday season, and remember to spend and eat wisely. Join us in January for an exciting new year! Contact the Host -
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184. Finances and Divorce - A Man’s Perspective
11/27/2024
184. Finances and Divorce - A Man’s Perspective
On this episode of CFO at Home, Vince’s guest, Paul Murphy of Divorce Detox, shares his personal story of divorce, and the challenges that he’s faced in transitioning from a spouse who was largely uninvolved in the day to day management of his finances, into the CFO of his Home. Paul’s experiences inspired him to create Divorce Detox, a digital program aimed at helping men manage the emotional and financial aspects of divorce. You can find out more about Paul and Divorce Detox by visiting divorcedetoxx.com Key Topics: Paul's personal story: career, marriage, divorce, and financial challenges The role of financial literacy and budgeting post-divorce Importance of involving both partners in financial management Emotional and mindset impacts of divorce on financial decisions Paul's creation of Divorce Detox and its role in supporting men Key Links: Contact the Host -
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Bonus - Inflation and the President Elect's Strategy to Address It
11/13/2024
Bonus - Inflation and the President Elect's Strategy to Address It
With the 2024 Presidential Election behind us, what's our new President's plan to address voter's #1 issue? Key Topics: Introduction and Election Reflection Understanding Inflation: Definitions and Current Rates President-elect's Inflation Strategy: Key Points Impact of Energy Production on Inflation Federal Spending and Deregulation Immigration and Housing Costs Geopolitical Stability and Inflation Tax Policies and Home Ownership Initiatives Conclusion: Holding Leaders Accountable
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183. Bankruptcy Basics and Student Loan Discharge
10/30/2024
183. Bankruptcy Basics and Student Loan Discharge
On this episode of CFO at Home, Vince’s guest is Luke Homen, a bankruptcy attorney and founder of Convenient Bankruptcy. Luke and Vince discuss two of the most common forms of bankruptcy, Chapter 7 and Chapter 13, and the importance of understanding the process and potential pitfalls of each. Luke shares insights into the emotional and financial aspects of filing for bankruptcy, and the impact of bankruptcy on aspects of your financial wellness such as credit scores. Luke and Vince also discuss the potential for student loan discharge through bankruptcy, a relatively new and evolving area of law, and the importance of financial literacy post-bankruptcy. For more information about Luke, visit ConvenientBankruptcy.com.
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182. Building Generational Wealth in Underrepresented Communities
10/23/2024
182. Building Generational Wealth in Underrepresented Communities
On this episode of CFO at Home, Vince’s discussion is with Jude Wilson, Chief Financial Strategist at Centrus Financial Strategies, about financial planning, specifically for underrepresented communities and the first-generation affluent. They discuss the importance of understanding cash flow versus net worth and the challenges of changing financial mindsets. Jude also shares his personal money journey as the son of Haitian immigrants as well as stories of individuals who have transformed their financial futures through strategic planning. You can learn more about Jude and his work by visiting Centrusfs.com and by listening to The Roth Guy podcast.
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181, Investing at Every Stage of Life
10/16/2024
181, Investing at Every Stage of Life
With more options available to us than ever, navigating the world of investments can be challenging, whether you’re a new investor just starting out, or a more seasoned investor looking to strike a balance between growth and income. On this episode of CFO at Home, Vince talks with Steven Wagner, from Integrity Wealth Advisors, about the importance of your investment strategy evolving in different stages of life, the psychology of money, the concept behind Lifestyle or Target Date funds, and more. You can learn more about Stephen and Integrity Wealth Advisors by visiting iwaplan.com Key Takeaways: Investment Evolution: Investing strategies should evolve as individuals progress from young entrepreneurs to retirees, with a focus on more aggressive investments in the early stages and a gradual shift to conservative options as retirement approaches. 100-Age Rule: The 100-age rule is a guideline for determining the percentage of assets to invest in stocks, but younger investors may benefit from even more aggressive strategies. Psychology of Money: Understanding the psychological aspects of investing, such as fear and greed, is crucial for making sound financial decisions and maintaining a long-term perspective. Financial Planning: A comprehensive financial plan is essential for identifying short-term and long-term goals, which in turn dictates the appropriate investment strategy. Lifestyle Funds: These funds automatically adjust the asset allocation based on the investor’s age and retirement timeline, providing a hands-off approach to managing investments. Retirement Planning: As individuals approach retirement, the focus shifts from growth to income and risk management, making professional advice invaluable. Key Links: Contact the Host -
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180. Unlocking Your Financial Thermostat, A New Mindset
10/09/2024
180. Unlocking Your Financial Thermostat, A New Mindset
Our thoughts, feelings, and emotions about money are key factors in determining our financial success. On this episode of CFO at Home, Vince talks with Pericles Rellas, a money mindset expert who has worked with tens of thousands of people for more than two decades to help them live lives of power, purpose and prosperity, using his concept of the "financial thermostat". They explore how our financial thermostats can dictate our earning and saving behaviors, the four keys to resetting your financial thermostat, and more. You can learn more about Pericles and the Financial Thermostat by visiting PericlesRellas.com Key Takeaways: Financial Thermostat: Our financial thermostat is an internal setting that influences how much money we can earn and keep. It regulates our thoughts, feelings, and emotions about money. Understanding Money: Recognizing money as a currency that flows in a circle is crucial. Blocks in the flow of money, whether incoming or outgoing, can impede financial growth. Flow Focus: Identifying where your money is going and redirecting it towards intentional goals can empower financial decisions and create a sense of control. Prosperity Structure: Instead of a traditional budget, create a prosperity structure that includes all expenses and savings, fostering a mindset of growth rather than limitation. Mentoring: Finding a mentor or coach who resonates with you can provide guidance and accountability, helping to shift paradigms and reach financial goals. Key Links: Contact the Host -
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179. Side Hustles: Balancing Passion and Profit
10/02/2024
179. Side Hustles: Balancing Passion and Profit
On this episode of CFO at Home, the discussion is Side Hustles with Joan Posivy, host of the Side Hustle Hero podcast. Joan and Vince talk about the evolving landscape of side hustles, and she shares her insights on choosing the right side hustle, the importance of matching your side hustle to your personal preferences, the balance between a full-time job and a side hustle, and more. You can learn more about Joan and her work by visiting SideHustleHero.com Key Takeaways: Choosing a Side Hustle: Select a side hustle that matches your personal preferences and work style, whether you prefer working with people or behind a desk. Goal Setting: Set clear, realistic goals and give yourself a specific timeframe to evaluate the success of your side hustle. Persistence: Many side hustles fail because people give up too soon. Commit to your side hustle for a set period before reevaluating its viability. Time Management: Efficiently manage your time by scheduling dedicated hours for your side hustle and minimizing distractions during those periods. Financial Planning: Before transitioning your side hustle to a full-time job, ensure you have sufficient savings to support yourself during the initial growth phase. Testing and Feedback: Use low-cost methods like farmers markets to test your product and gather feedback before making significant investments. Key Links:
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178. Thriving Financially in “A World Designed to Make Us Poor”
09/25/2024
178. Thriving Financially in “A World Designed to Make Us Poor”
On this episode of CFO at Home, Vince talks with JD Itri, founder of Olympus Money and author of "The Olympus Money Method: How to Gain Financial Freedom in a World Designed to Make You Poor." JD shares his journey from working at Intuit on products like TurboTax and Mint, to developing his own personal finance software, Olympus Money. They discuss the advantages of integrating tax preparation with management of your personal finances, psychological barriers to saving, and ways to streamline your financial management. You can learn more about JD and Olympus Money by visiting OlympusMoney.com Key Takeaways: Integrated Finance: Combining tax preparation with personal finance can provide a more comprehensive view of one's financial health and streamline the tax preparation process. Elevated Balance: Instead of granular budgeting, focus on broad categories like savings, investments, and discretionary spending to simplify financial planning. Future Self Visualization: Viewing an aged version of yourself can increase savings by making the future feel more personal and immediate. Rich Habits: Investing in experiences and relationships can provide more long-term satisfaction than material possessions. Target Audience: The book and app are particularly useful for individuals aged 25-45 with household incomes between $75,000 and $250,000 who are looking to take control of their finances without dedicating excessive time. Key Links: Contact JD - Contact the Host - [email protected]
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177. Make Better Financial Decisions
09/18/2024
177. Make Better Financial Decisions
On this episode of CFO at Home, Vince talks with Tim Clifford, author of "Plan Assist: Make Better Financial Decisions," about the importance of having a financial plan, the difference between earning money and accumulating wealth, and the retirement crisis facing many Americans today. They explore the concept of diversification, the role of financial advisors, the significance of both formal and informal financial counsel, and more. You can learn more about Tim and PlanAssist, by going to PlanAssist.com. Key Takeaways: Financial Planning: A simple, clear plan is essential for financial success. It doesn't need to be elaborate; even a one-page plan can make a significant difference. Diversification: Diversifying your investments is crucial. This includes a mix of stocks, bonds, and other assets, with a core portfolio and satellite investments for potential growth. Seeking Counsel: Both formal and informal advice are important. Understand the biases in informal advice and ensure formal advice is unbiased and in your best interest. Retirement Crisis: Many Americans are unprepared for retirement. It's crucial to start planning early and make informed financial decisions to avoid financial stress in later years. Education: Financial literacy is key. Seek out resources and educate yourself on financial planning and investment strategies to make better decisions. Key Links Website - Email - Contact the Host -
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176. Estate Planning FAQ
09/11/2024
176. Estate Planning FAQ
Wills, Trusts, Powers of Attorney. Nearly all of us have some concept of what these are, but how many of us are really confident that we understand these fundamental estate planning tools and how they work? On this episode of CFO at Home, Vince talks with Adam Zuckerman, founder of Buried in Work, a comprehensive resource for estate planning and end- of-life tasks. Adam shares the origin story of Buried in Work, the importance of estate planning, common misconceptions, essential documents, and more. You can learn more about Adam and Buried in Work by going to BuriedInWork.com Key Takeaways: Estate Planning: It's not just for the wealthy. Everyone has an estate, and planning is crucial for the transition of assets and end-of-life wishes. Essential Documents: Key documents include wills, durable powers of attorney, healthcare proxies, and various types of trusts. Trusts: Trusts provide privacy and can help avoid probate. They are not solely for tax avoidance and should be set up with professional guidance. Digital Legacy: Modern estate planning should include digital assets like social media accounts and online passwords. Communication: It's vital to inform family members about the location and contents of estate planning documents to avoid confusion and stress. Key Links: Contact the Host -
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175. Rebuilding After Financial Abuse
09/04/2024
175. Rebuilding After Financial Abuse
A quick word of caution; this episode contains discussion of domestic abuse and suicide. On this episode of CFO at Home, Vince talks with Sarah Doucette, author of "Stronger Than That: A Domestic Violence Survivor Uncovers the Truth About Her Abuser." Sarah shares her story of enduring financial abuse while surviving domestic violence, and the lessons she learned along the way. We discuss Coercive Debt, the importance of each partner in a relationship being knowledgeable about their finances , and how Sarah rebuilt her life post-divorce. You can pick up a copy of Stronger Than That at Amazon.com or wherever books are sold. Also, check out Sarah’s podcast What’s My Age Again at Whatsmyageagainpod.com, or on your favorite podcast app. Key Takeaways: Coercive Debt: Financial abuse can take many forms, including coercive debt, where abusers open credit accounts in their partner’s name without their knowledge. Financial Literacy: Understanding and being involved in household finances is crucial for everyone, regardless of their role in the relationship. Communication: Open and honest communication about finances between partners can prevent misunderstandings and potential financial abuse. Support Systems: Reaching out for help and utilizing financial advisors can be instrumental in recovering from financial abuse and rebuilding one’s financial health. Strength in Vulnerability: True strength lies in being vulnerable and seeking help, rather than suffering in silence. Key Links: Contact the Host -
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174. Empowering Women with their Finances
08/28/2024
174. Empowering Women with their Finances
On this episode of CFO at Home, Vince talks with Regina McCann Hess, author of "Superwoman Wealth," a book designed to empower women to confidently plan their financial futures, about how societal expectations impact women's financial well- being, the importance of nurturing money, understanding money mindsets, understanding the role of communication between partners in managing finances, and more. You can learn more about Regina and Superwoman Wealth by going to Forgewealth.com Key Takeaways: Societal Expectations: Historically, men have been expected to manage household finances, leaving many women unprepared to handle their own financial matters when necessary. Nurturing Money: Women are natural nurturers and can apply this trait to managing their finances by aligning their money with their values and goals. Money Mindset: Both men and women bring unique mindsets to financial management, influenced by their upbringing and societal roles. Understanding these mindsets is crucial for effective financial planning. Communication: Open and regular communication about finances between partners is essential for achieving common financial goals and avoiding misunderstandings. Kitchen Table Conversations: Regular, non-threatening discussions about finances can help couples understand each other's financial perspectives and work together more effectively. Key Links: Contact the Host -
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173. Is College Really Worth the Investment?
08/22/2024
173. Is College Really Worth the Investment?
Is college really worth the investment? On this episode of CFO at Home, Vince explores this question with James Bolin, creator of Secure Single, by diving into topics covered in James' blog posts; "Exposing the College Scam" and "Shocking Truth: Is College Worth It?" James also shares his personal experiences with higher education, and how they shaped his views on the value of a college education. You can learn more about James and Secure Single by going to Secure Single.com Key Takeaways: Societal Pressure: The expectation to attend college starts in high school and is deeply ingrained in the American Dream, often leading students down a predetermined path. Student Loans: The availability of federal student loans incentivizes universities to raise prices, contributing to the creation of degree factories offering less marketable degrees. College Amenities: The rising cost of college is partially driven by non-essential amenities aimed at attracting students, such as luxurious dorms and recreational facilities. Student Lifestyle: The college environment often encourages partying and social activities that can delay adulthood and financial independence. Alternative Learning: Self-learning through online courses, certifications, and trades can be viable, cost-effective alternatives to a traditional college education. Financial Education: Early financial education, ideally starting in high school, is crucial for making informed decisions about higher education and managing personal finances effectively. Key Links: Contact the Host -
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172. Franchise Opportunities: Tips and Pitfalls
08/14/2024
172. Franchise Opportunities: Tips and Pitfalls
Have you ever considered franchising as a business opportunity or a side hustle? On this episode of CFO at Home, Vince talks with Greg Mohr, CEO and founder of Franchise Maven, about the ins and outs of franchising, how to avoid common pitfalls and missteps, and the critical due diligence process. Vince also shares his own experience with a failed franchise, and what he learned from it. You can learn more about Greg and Franchise Maven by going to FranchiseMaven.com Key Takeaways: Franchise vs. Independent Business: Franchises offer a quicker path to success with a proven playbook, but come with franchise fees and royalties. Coachable Trait: Being coachable is essential for franchise success. If you prefer complete autonomy, franchising may not be for you. Due Diligence: Conduct thorough research, including talking to multiple franchisees and reviewing franchise disclosure documents to understand where the franchise makes its money. Red Flags: Be wary of franchises that make most of their money from franchise fees rather than royalties, and those that steer you towards talking to only certain franchisees. Financing Options: Service industry franchises often require lower initial investments and can be financed through SBA loans. Key Links: Website - Facebook - Instagram - LinkedIn - Contact the Host -
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171. Turn Your Financial Fears into Motivation!
08/07/2024
171. Turn Your Financial Fears into Motivation!
Improving personal finances is consistently a top New Year’s Resolution. However, a study by the University of Scranton found that only 8% of people who set goals manage to achieve them. On this episode of CFO at Home, Vince discusses setting and achieving goals with Terry Fossum, the creator of the Oxcart Technique, a powerful yet easy-to-understand 3 step process, grounded in Nobel Prize-winning science, for overcoming obstacles holding you back from achieving success in in your finances, and many other aspects of life. You can learn more about Terry and the Oxcart Technique by visiting TerryLFossum.com Key Takeaways: Emotion Over Facts: We act based on emotion rather than facts. Creating strong emotional motivations is key to sticking to goals. Pain vs. Pleasure: Prospect theory shows we do more to avoid pain than to seek pleasure. The Ox Cart Technique uses this principle to drive action. Failure Scenario: Writing out a detailed failure scenario creates a strong emotional response that motivates action. Daily Action Plan: A clear, actionable plan is essential. This includes what you will do daily to achieve your goals. Success Scenario: Visualizing a positive outcome after following your action plan helps reinforce commitment and drive. Adaptability: Plans should be flexible. Execute now and adjust as needed rather than waiting for a perfect plan. Key Links: Contact the Host -
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170. How to Pay For College
07/31/2024
170. How to Pay For College
Paying for college can be one of the most daunting financial challenges parents face, but a well thought-out plan that combines good parenting and sound financial planning can make it manageable. On this episode of CFO at Home, Vince talks with Ann Garcia, author of "How to Pay for College," about strategies to effectively save for college, prioritize financial goals, and navigate the myriad of scholarship opportunities available. Ann shares invaluable insights on the importance of early planning, the benefits of 529 college savings plans, and how to balance saving for college with other financial priorities like emergency funds and retirement. You can learn more about Ann by visiting Howtopayforcollege.com Key Takeaways: Start Early: The ideal time to start saving for college is as early as possible, even before the child is born. 529 plans are a highly recommended vehicle for college savings due to their tax advantages. Prioritizing Savings: Emergency savings should come first, followed by retirement, and then college savings. Scholarship Opportunities: Every student is eligible for scholarships somewhere. Researching and applying for scholarships can significantly reduce the cost of college. Colleges offer need-based and merit-based scholarships, and there are scholarships for a wide range of skills and activities. ROI Analysis: It's crucial to consider the return on investment when choosing a college. This includes evaluating the cost of the college and the potential earnings from the chosen field of study. College Experience: Factors like mentorship, faculty engagement, and opportunities for applying classroom learning outside the classroom contribute more to future success than the type of college attended. Key Links: Contact the Host -
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169. Navigating Tax Debt
07/24/2024
169. Navigating Tax Debt
Did you know that fear of income taxes and the IRS is so real that there’s an actual physiological name for it? It’s Forosophobia. Tax debt in particular can be a daunting issue, affecting not only your finances but also your peace of mind. On this episode of CFO at Home, Vince talks with Morgan Anderson, a tax resolution expert, about the complexities and solutions surrounding tax debt, from understanding the common causes of tax debt to exploring viable options for resolution. You can learn more about Morgan and her firm, Golden Lion Tax Solutions by going to GoldenLionTaxSolutions.com Key Takeaways: Common Causes: Tax debt often stems from unexpected events such as illness, death, inheritance issues, or business setbacks. Initial Reactions: The most common fear among clients is the possibility of going to jail, exacerbated by the intimidating image of IRS collectors. Resolution Options: The most common solutions include setting up monthly payment plans and seeking penalty forgiveness for justifiable reasons. Offer in Compromise: While enticing, this option has strict qualifications and is not suitable for everyone. Proactive Approach: It's crucial to be proactive in addressing tax debt rather than avoiding it, as early action can prevent further complications. Vetting Professionals: When seeking professional help, it's essential to verify credentials, ask about experience with similar cases, and listen to your instincts. Key Links Website - Book - Facebook - LinkedIn - Contact the Host -
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168. A Healthier Way to Manage Your Money
07/17/2024
168. A Healthier Way to Manage Your Money
For so many of us, when we think of budgets and managing our money, what immediately comes to mind are things like restriction, sacrifice, or even conflict if money fights and disagreements are what we saw in our households growing up. If you have a partner who you manage money with, this can present challenges whether that person is you or them. But what if there’s another, healthier way of managing your money? That’s the discussion on this episode of CFO at Home with Aqura Nicholson, a money coach who empowers women entrepreneurs to master their money. You can learn more about Aqura by checking out her website AquraNicholson.com or her podcast Women Talk Money on your favorite podcast app. Key Takeaways: Understanding your personal financial goals is crucial for effective money management. A healthy approach to managing money involves spending on what you truly enjoy while still working towards financial goals. Open financial communication and respect for individual preferences are vital in relationships. Avoiding extreme financial restrictions can prevent financial burnout and relapse. Building cash reserves and stabilizing expenses are essential steps before tackling debt payoff Ways to Contact Contact the Host -
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167. Finding Success with Money and with Life
07/11/2024
167. Finding Success with Money and with Life
Most of our time on this podcast is spent talking about how to prepare ourselves financially for the future; saving to meet different life goals, investing for retirement, things like that. What we don’t spend nearly as much time discussing are other topics that are just as important; things like finding meaning along the journey, be it through your job or other pursuits, and preparing emotionally for retirement. On this episode of CFO at Home, Vince dives into these topics and more with Michael Kay, Certified Life Coach and the creator of Chapter X, a community for men transitioning to life after their careers. You can learn more about Michael and Chapter X by visiting michaelfkay.com Key Takeaways: Understanding your personal values and interests is crucial for a fulfilling retirement. Men often struggle with identity and purpose after leaving their careers due to societal conditioning to be competitive and independent. Building interdependent relationships and being open to new experiences can help ease the transition into retirement. Early emotional preparation for retirement is as important as financial preparation. Exploring personal interests and hobbies can provide a sense of purpose and satisfaction post-retirement. Key Links: Contact the Host -
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166. Dad Wisdom: Financial Tips for Adulting
07/03/2024
166. Dad Wisdom: Financial Tips for Adulting
In his book Not Another Lecture - 20 FinBit$ of Unsolicited Dad Wisdom about Money, Johnny Bohan uses his background as a Certified Financial Planner, college finance professor, and most importantly, a Dad, to share in a humorous way simple, straightforward, tips on how to how to manage money with his readers. Today on CFO a Home, you’ll get a double shot of dad wisdom from Johnny and Vince as they discuss the importance of getting a clear picture of your financial situation, “roboing” your savings, “boring” versus “trendy” investments, and more. You can learn more about Johnny and Not Another Lecture by going to JohnnyPBohan.com Key Takeaways: Understanding your assets and liabilities helps you to develop a clear picture of your financial situation Automating your savings can help you build financial stability without the need for constant oversight While trendy investments like cryptocurrency can be enticing, a balanced approach with a focus on long-term, stable investments can provide a more solid foundation Having a "money buddy" can help you to stay accountable Key Links: Website - Instagram - Contact the Host -
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165. The Presidential Election, The Economy, and The Wealth Gap
06/26/2024
165. The Presidential Election, The Economy, and The Wealth Gap
In our last episode, Vince discussed conservative politics and the Black community with author, consultant, and entrepreneur Philip Blackett. This week, Philip and Vince wrap up their discussion, this time focusing on the upcoming Presidential election from the perspective of the economy, and the wealth gap between Black Americans and other groups. Key Takeaways: Philip believes that conservative economic policies, such as smaller government and lower taxes, can be more beneficial for Black Americans. Government spending and national debt are critical issues that affect personal finances and future generations. The COVID-19 relief efforts had mixed results, with some programs being misused or not effectively targeted. Student loan forgiveness is a controversial topic, with differing views on its fairness and economic impact. Closing the wealth gap in the Black community requires a focus on education, entrepreneurship, and self-sufficiency. Key Links: Website - Podcast - Contact the Host -
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