Sound Financial Bites

In this episode of the ​Sound Financial Bites podcast, Paul Adams and Cory Shepherd discuss how seeing the big picture of the financial industry can strengthen your resolve to persevere through short-term fluctuations and set you on the path to definite financial independence. Their conversation shares the not-so-secret motivations of financial institutions, debunks the myth of beating the market, and breaks down the world of mutual funds. For full show notes, including a FREE PDF of the transcription, visit: www.sfgwa.com/blog/podcast-episode-118-what-you-don’t-know-is-hurting-you This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered investment adviser. 

In this episode of the ​Sound Financial Bites ​podcast, Paul Adam’s sits down with co-host Cory Shepherd to continue the conversation on the importance of assets in achieving a work-optional lifestyle. Paul and Cory share a concise overview of season 4 for new listeners, talk about acquiring fun assets that still bolster wealth, and provide concrete advice about cash flow and the logistics of wealth-management. For full show notes and PDF of the full transcription, visit: www.sfgwa.com/blog/podcast-episode-117-stop-saving-money-start-building-assets-part-2 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered investment adviser.  Informati

In this episode of the Sound Financial Bites podcast, Paul Adam’s sits down with co-host Cory Shepherd to talk about the key to a work optional lifestyle: building assets. They share their philosophy of building assets and confront some of the unwise decisions that many Americans are making on their personal balance sheets. Through their conversation, Paul and Cory strive to make sure that you are taking care of your future self through the financial habits and practices that you live out today. For full show notes, including a FREE PDF of the transcription, visit: www.sfgwa.com/blog/podcast-episode-116-stop-saving-money-start-building-assets-part-1  This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financi

In this episode of the ​Sound Financial Bites ​podcast, Paul Adam’s sits down with co-host Cory Shepherd for part two of “Protecting Your Window.” They provide sound advice for maximizing the window of time around a significant income boost to protect you and your family and design and build a good life. Paul and Cory’s dialogue focuses on the value of disability insurance, how to effectively plan wills and trusts, and the tried-and-true benefits of saving cash. For full show notes, including a FREE PDF of the transcription, visit:  www.sfgwa.com/blog/podcast-episode-115-protecting-your-window-part-2 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a regis

In this episode of the ​Sound Financial Bites ​podcast, co-hosts Paul Adams and Cory Shepherd sit down to discuss how to make the wisest decisions towards long-term protection during your White Coat Window. Paul and Cory talk about common mistakes they have observed in insurance structures, talk about the protective benefits of umbrella insurance, and provide a formula for determining how much umbrella insurance you need to design and build a good life. For full show notes, including a FREE PDF of the transcription, visit: http://www.sfgwa.com/blog/podcast-episode-114-protecting-your-window-part-1 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered inve

In this episode, Paul Adam’s sits down with Cory Shepherd to introduce season four of the ​Sound Financial Bites podcast and to explain the White Coat Window. The White Coat Window refers to the period of time immediately after someone experiences a substantial increase in income, which leads to a series of critical financial decisions. Paul and Cory discuss how to navigate the White Coat Window to avoid financial ruin and strike the balance between increasing your quality of life and pursuing long-term financial health. For full show notes, including a FREE PDF of the transcription, visit: http://www.sfgwa.com/blog/podcast-episode-113-what-is-the-white-coat-window This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation.

In this episode, Paul dispels the myth of “finding balance” in life and gives practical advice on why and how to allocate money in short, mid, and long-term buckets. He talks about how to be more effective in reaching your life goals by designing disciplines that benefit multiple facets of your life. Towards the end, Paul explains the two primary methods for mid-term savings and shares a sneak peek about two upcoming books from him and Cory Shepherd. For full show notes, including a FREE PDF of the transcription, visit: http://www.sfgwa.com/blog/podcast-episode-112-orchestrating-short-mid-long-term-buckets This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registe

In this episode, Paul sits down with an anonymous friend and client of Sound Financial Group who shares a series of traumatic experiences in 2016 which led to using his disability insurance. Paul and his friend share a somber conversation recalling these traumatic events and implore listeners to take a deeper look at their current disability insurance plans. For full show notes and to download a FREE copy of the transcript for this episode, visit: http://www.sfgwa.com/blog/episode-111-the-worst-case-scenario This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered investment adviser.  Information presented is for educational purposes only and does not

In this episode, Paul sits down with Cory Shepherd to talk about the difference between shallow web search and deep research. We discuss the best practices for researching, analyzing, and taking action in important financial decisions. For full show notes and to download a FREE copy of the transcript for this episode, visit:http://www.sfgwa.com/blog/podcast-episode-110-web-search-vs-research This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered investment adviser.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Inves

In this episode, Paul sits down with Cory Shepherd to talk about the essential need for everyone to be their own fiduciary. Paul and Cory delve into the various definitions of a fiduciary, talk about bias and conflicts of interest in financial advising, and provide a framework for choosing the right advisor and setting yourself up for healthy, long-term financial growth. For full show notes and to download a FREE copy of the transcript for this episode, visit:http://www.sfgwa.com/blog/podcast-episode-109-be-your-own-fiduciary This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered investment adviser.  Information presented is for educational purposes only and does not

In this episode, Paul discusses the key driving force motivating people to abandon a disciplined strategy of keeping portfolios, market volatility. We learn that volatility is a great asset for portfolios, as long as we are prepared for it in the ways Paul describes. We explore the last 40 years of market volatility and examine what it truly means to have a diversified portfolio, the benefits of being unswayed by news outlets, and the fact that downturns in the market are inevitable but not hopeless with the advice Paul shares in this episode.  Finally, Paul makes a special offer for listeners. For full show notes and to download a FREE copy of the transcript for this episode, visit: http://www.sfgwa.com/blog/podcast-episode-108-the-market-dropped This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals

In this episode, Paul discusses the wealth coordination account and its goal to build assets and eventually lead to financial independence. We learn about the three pillars that comprise the wealth coordination account and how it can lead to massive wealth accumulation over time. Paul touches on the misconceptions many people have about savings as well as the importance of focusing on wealth building rather than savings. He speaks to passive income and its critical role in building wealth through the wealth coordination account. Finally, Paul reinforces the concept that money set aside for the wealth coordination account becomes catalytic and fundamentally shifts the way we think about money.    For full show notes and to download a FREE copy of the transcript for this episode, visit: http://fullcast.co/sfb-107 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fidu

Michael Michalowicz is the entrepreneur behind three multimillion-dollar companies, the author of Profit First, The Pumpkin Plan, and six other books. Soon, Michael will be releasing his newest book, Clockwork, on August 26. Michael was a former business journalist for The Wall Street Journal and a former business makeover specialist on MSNBC. He also runs his own podcast, The Profit First Podcast. Today, he travels the world as an entrepreneurial advocate helping people take the challenges out of outdated business beliefs and teaching people what to do about it. In this episode, we discuss Michael’s new book, Clockwork, as well as the different stages of opening a business and how to get your business as successful as it can be. Michael compares Maslow's hierarchy for humans to his newfound hierarchy for entrepreneurship; he states the hierarchy of needs for businesses and why. Michael encourages entrepreneurs to shift away from pride, ego, and the things that are destroying them and their businesses. He war

Michael Michalowicz is the entrepreneur behind three multi-million dollar companies, the author of Profit First, The Pumpkin Plan, and six other books. Soon, Michael will be releasing his newest book, Clockwork, on August 26. Michael was a former business journalist for The Wall Street Journal and a former business makeover specialist on MSNBC. He also runs his own podcast, The Profit First Podcast. Today, he travels the world as an entrepreneurial advocate helping people make sure they take the challenges out of outdated business beliefs and teaches people what to do about it. In this episode, we discuss entrepreneurial poverty, the misconception of success, and the “profit first” philosophy. Michael speaks about his personal entrepreneurial experience and the struggles he faced earlier in his entrepreneur career. He states how he got out of bankruptcy and even shares a touching story about his daughter during that time. Michael states that letting go of his ego and having humility has helped him succeed. We

In this episode, Paul speaks about the kinds of external pressures that push in on entrepreneurs that make them think they’re being as successful as they can be with their money, even though they may not be doing the right things that lead to long-term financial well being in their personal balance sheet. He explores what things business owners have been taught and are attracted by. He also encourages you to listen in this episode for things that may resonate with you, such as things that have not made you as effective in building your personal balance sheet, the story of Odysseus and the siren’s song, and the sage advice Jeff Miller’s grandfather gave to him. For full show notes and to download a FREE copy of the transcript for this episode, visit: http://fullcast.co/sfb-104 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one o

In this episode, Paul speaks about what he’s observed from business owners and entrepreneurs, including the high failure rates of entrepreneurship, how difficult it is for a business to be financially fruitful enough to support itself in five to ten years, and the major impact entrepreneurs have on the world. He explains how strong your balance sheet must be in order for you to be financially secure for the rest of your life, and why high levels of income don’t always translate into having enough money to sustain a desired lifestyle. He also guides you through the evolution of a business owner and the process of building a business, and offer tips on being able to reflect on your balance sheet realistically, because your family deserves to have a stable balance sheet. For full show notes and to download a FREE copy of the transcript for this episode, visit: http://fullcast.co/sfb-103 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advi

In this second episode of a two-part series, Paul and Cory continue to discuss some common money mistakes and offer advice to help you learn from the problems others have faced. They address how people miss the Backdoor Roth IRA, the problems associated with people talking to a product salesperson instead of an advisor, why counting on a company’s success way too much can be harmful, and the pitfalls of saving money instead of building assets. Paul and Cory explain how when we borrow money, we’re not getting money on our assets, we’re getting money on our potential to earn income. To help you better understand the common money mistakes Paul and Cory address in this episode, they include examples from Ned Ryserson from Groundhog Day, the Enron scandal, and The House. For full show notes and to download a FREE copy of the transcript for this episode, visit: http://fullcast.co/sfb-102 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice

In this first episode of a two-part series, Paul and Cory address some common money mistakes and offer advice to help you learn from other people’s mistakes. They discuss the problem of maxing out your 401k, the importance of being aware about your protections and evaluations, the parachuter’s paradox, and the difference between non-convertible term insurance and convertible term insurance. Paul and Cory state that everyone is doing their best with the information they know, so don’t feel bad if you make any of these mistakes! This series is to help inform you so you can make better financial choices. Additionally, In honor of Sound Financial Bites surpassing 100 episodes, Paul mentions a giveaway at the end of this podcast! For full show notes and to download a FREE copy of the transcript for this episode, visit: http://fullcast.co/sfb-101 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation

In this episode, we talk about the mistake of following the words of financial entertainers, namely, Dave Ramsey, for facts without proper research. We examine why false expectations and over projections as a result of misinformation can be harmful to you financially. In addition, we note that when statements cannot be backed up with proper evidence and critics are lambasted instead of shown facts, those statements might not necessarily be true. The purpose of this series is to help you see through the entertainment and down to the facts. For full show notes and to download a FREE copy of the transcript for this episode, visit: http://fullcast.co/sfb-100 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba S

In this episode of the part two series on the basics of disability insurance, Paul discusses with Cory about the provisions you should look for in any disability insurance you already have or are considering. They go over the importance of paying attention to the language of the contract and how to maximize the benefit of your disability insurance as well as how group disability contracts may not necessarily benefit high-income professionals or entrepreneurs. Paul and Cory give helpful tips and advice on how to better understand choosing and keeping an insurance policy that best suits you. For full show notes and to download a FREE copy of the transcript for this episode, visit: http://fullcast.co/sfb-099 This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to y