Common Sense Financial Podcast

De: Brian Skrobonja
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  • Resumen

  • The Common Sense Financial Podcast is all about finances, mindset and personal growth. The goal is to help you make smart choices with your money in your home and in your business. Some of the podcasts here are historical in nature. They aired before July 1, 2022 and were previously approved by Kalos Capital. The views and statistics discussed in these shows are relevant to that time period and may not be relevant to current events. This is intended for informational and entertainment purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. Our firm is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the US Government or any governmental agency. The information and opinions contained herein provided by the third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.
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Episodios
  • A Framework For Multiplying Wealth

    A Framework For Multiplying Wealth
    Aug 14 2024
    In this episode, Brian Skrobonja breaks down a simple framework everyone can follow to build and multiply wealth. He sheds light on what most people get wrong about wealth building, the benefits of having multiple appreciating assets, and how wealthy people use other people’s money to build wealth. Brian goes over a simple framework for multiplying and sustaining wealth--the same framework he uses to build and scale his business.Brian reveals the rhythm to building wealth: Accumulate money, build assets, create passive income, then repeat.Brian breaks down the two main schools of thought about money: Lateral compounding growth and exponential growth through multiplication. The sooner you understand the differences, the faster you can choose your path and move forward.Brian uses the financial journeys of two fictional characters, Mark and Luke, to explain what people get wrong about building wealth.Mark adheres to a traditional approach to money focusing on compounding while Luke employs an out-of-the-box strategy emphasizing multiplication to build his wealth.While Mark’s strategy relies on steady growth through compounding, Luke’s multiplication strategy demonstrates the potential of using real assets to create wealth.According to Brian, investing is all about taking advantage of opportunities as they are presented.Brian emphasizes the benefits of having multiple appreciating assets and how to use them to generate passive income in retirement.What everybody needs to understand about real estate: the value of a house will always appreciate regardless of whether it has a mortgage.The loan has nothing to do with the house’s value or the asset’s appreciation. The house is an asset and will appreciate the same whether it has a loan or not.Brian reveals how the wealthiest people in the world use other people’s money to build and multiply their wealth.Brian talks about the benefits of recognizing that things need to change. The sooner you recognize that things need to change, the faster you can begin to forge that new path.The benefit of learning from other people’s experiences and avoiding the mistakes they made.Without knowing how to use what you’ve learned effectively, it amounts to nothing more than dinner conversation.For Brian, successful people are consistently successful because they are eager to learn and have a true desire to uncover their own blindspots.Always remember that there are inherent risks with all types of investing. Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube Common Sense Financial Podcast on Spotify Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork by Dan Sullivan and Benjamin Hardy References for this episode: https://www.reddit.com/r/Bogleheads/comments/1bj16az/what_are_normal_stock_returns_ben_felix_over_the/?rdt=52271 https://www.investopedia.com/ask/answers/052015/which-has-performed-better-historically-stock-market-or-real-estate.asp https://skrobonjafinancialgroupllc.sharefile.com/public/share/web-s9eba7b5a422a4447ac6b5ffad96742ce Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. The views and opinions expressed here are those of the authors and do not necessarily reflect the official policy or position of Madison Avenue Securities, LLC This material contains forward looking statements. Forward looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Actual future results and trends may differ materially from what is forecast. Investing involves risk including the potential loss of principal. Consider your risk tolerance and specific situation before investing. Investments in securities are subject ...
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    23 m
  • Defining A Diversified Portfolio - Replay

    Defining A Diversified Portfolio - Replay
    Aug 7 2024
    In this episode, Brian Skrobonja breaks down ways to save, grow, and invest your money. He sheds light on what a well-diversified portfolio looks like, the true definition of financial freedom, and why you need different mindsets for spending versus investing money. We all want the same thing when it comes to money--we all desire to make money, grow money, and use the money that we have.However, most people have a belief system that is rooted strictly on growing money--which, on some level, makes sense. But this singular focus leaves out the idea of using money.Why is this important? Because how we grow money is not the same as how we spend money. Growing money and using money require different approaches and different ways of thinking.Brian reveals that many people spend money wrong. This is not about what people spend money on, but the source of the income being spent.If you earn a dollar and spend it, it's gone forever. If you earn a dollar and invest it for income, you potentially have income for life.Brian explains why it makes more sense to spend the money your investments earn versus spending the money you earn directly.Why is this important? If you want to grow your wealth over time, you should find ways to hang on to as much money as possible.What is the difference between making and growing money? Brian breaks down a brilliant way to use other people’s money to access cash while your money continues to grow. The definition of passive income and the benefits of making money with little to no effort. Better ways to generate income other than the stock market. Brian explains why the stock market is great for growing money, but it’s not the best option for generating recurring income.Ideally, you want to position assets so you have a tax-free, passive income to live on. You need to have the ability to spend money with uninterrupted growth while simultaneously investing long-term.Financial freedom is defined by how much passive income you are generating. Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube Common Sense Financial Podcast on Spotify Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Annuity guarantees rely on financial strength and claims-paying ability of issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are not FDIC insured. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply. Our firm does not offer tax or legal advice. Consult your tax or legal advisor regarding your situation.
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    13 m
  • Settling An Estate As An Executor - Replay

    Settling An Estate As An Executor - Replay
    Jul 31 2024
    In this episode, Brian Skrobonja sheds light on the complex and often overwhelming process of managing an estate after the loss of a loved one. This is a step-by-step guide from the initial steps you need to take after a loved one passes, to the intricate details of settling an estate. Brian offers valuable advice and practical tips to navigate this difficult time with grace and efficiency. Having a clearly defined process in place for managing an estate can help avoid the emotional drain of making important decisions through the loss of a loved one.Friends and family may wish well and provide advice on what to do, but without a proper plan in place, that can lead to more financial problems in the future.Setting expectations for yourself and the beneficiaries of the estate is a great first step to help minimize the confusion and questions around how long it will take to settle an estate. This process can take anywhere from two months to several years depending on the type of assets that are owned and the size and complexity of the estate.A funeral home director will often help obtain death certificates, which will be required before making any claims. It’s a good idea to request 10 to 12 original documents because, once submitted, you may not get them back.It's important to first locate the deceased’s will, trust, or other estate documents they have on file. If none of these exist, you could have difficulty settling a person's estate which will most likely require an attorney to assist you through the probate process.Check to determine if the person may have left a letter of instruction behind as well. A letter of instruction is not a legal document, but it's a letter that can provide more personal intentions and information regarding an estate.The next step is to begin gathering an itemized list of all known financial institutions where money is held and life insurance companies for filing a claim. It's a good idea to put the list together before jumping into making calls because you'll want to keep track of phone conversations and other instructions.Tip: A really good practice is to keep a journal or Excel spreadsheet of all the conversations to keep track of everything. You'll want to avoid writing on the back of envelopes or scrap pieces of paper as that can become really unmanageable.Checks made out to the deceased will require a bank account to deposit them. Avoid closing bank accounts too early because of this.You will have to notify Social Security that a death has occurred as well as any pension provider to have payments stopped and any eligible benefits paid to the estate.If your loved one served in the military, you may be eligible for veterans benefits. You can get more information about these benefits by visiting va.gov.Over the next one to three months, you will want to screen incoming mail, both physical and email, to look for and gather bills, statements, and notices relating to various types of accounts and insurance policies. You will want to review credit card statements to identify subscriptions or other recurring charges to follow up with the service providers about cancellation.Next, notify creditors and credit card companies that were a part of your loved ones credit history. You can notify the big three credit bureaus; Experian, Equifax, and TransUnion, of their passing, which can usually be done online over the phone or by letter.You will also want to locate where they filed important documents to find deeds, titles to real estate, car titles, or lease agreements as well as storage space keys and account records.Look for a computer file or printout with digital account passwords so you can disable any active social media accounts.If the person was still working, contact the human resources office at their place of work to inform them of what has happened, the HR officer may need you to fill out some paperwork pertaining to retirement plans, health benefits and compensation for unused vacation time.If your loved one owned a small business or professional practice, a discussion with business partners and clients may be necessary as well as consulting with the company attorney who has advised the business.If there was a child in college, it may be a good idea to contact the Financial Aid Office to inform them of what has happened. Depending on the school and the financial situation the surviving child may qualify for more assistance.Before rushing into this process, you should consider speaking with a financial advisor and attorney. There are so many areas where you can make expensive mistakes, working with a professional through this difficult time is usually the best decision. Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com Common Sense Financial Podcast on YouTube Common Sense Financial Podcast on Spotify va.gov Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. ...
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    13 m
Economía Finanzas Personales
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