Your Optimal Personal Economy PODCAST
Episode 61 - What Happened When I Asked My 8-Year-Old What It Means To Be “Rich”

Episode 61 - What Happened When I Asked My 8-Year-Old What It Means To Be “Rich”

December 11, 2019

At what point would you consider someone to be rich?

In this episode, Justin Bennett shares a conversation he had with his 8-year-old son about what it means to be rich, and what happened when he asked his son to use non-money identifiers to pinpoint wealth.

In this episode, you’ll learn:

- An example of how to initiate an age-appropriate conversation with kids that can help broaden their perspective on what it means to be rich

- Words of advice about giving children the freedom to form their own perspectives

- Why Justin encourages clients to think critically about their planning decisions

- And more!

Tune in now to learn how Justin’s conversation with his son about the definition of “rich” unfolded.

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Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

Episode 60 - A New Way to Talk to Your Family About Stewardship

Episode 60 - A New Way to Talk to Your Family About Stewardship

November 27, 2019

If you’re like Justin Bennett’s clients, you want your kids to not only be responsible stewards of money but to also be instrumental in passing down values for generations to come.

Today, Justin explains how he approaches values-based conversations about transferring wealth to the next generation. Listen in as Justin walks you through this important conversation, turning the typical definition of “wealth” on its head while showing you how to start talking to your family about stewardship.

In this episode, you’ll learn:

  • What tends to happen in families who don’t talk about stewardship
  • How Justin defines “wealth” and “money” and how these definitions tie into the stewardship conversation
  • What concerns people most about having these conversations with family
  • Words of advice for initiating a conversation about stewardship
  • And more!

Tune in now to discover a new way to think about stewardship conversations!

 

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 Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

Episode 59 - Plan for the Future Now

Episode 59 - Plan for the Future Now

November 14, 2019

What if you could make a decision today that would allow you to win over your short-term and long-term planning?

In this episode, Justin Bennett emphasizes how acting early can pay off in the future. You will hear stories about the decisions that high-performing clients have made now to help them live optimally later.

In this episode, you’ll learn:

  • How a real estate investor built up cash value and protection when Justin put an intermediary step in place
  • Why people who boost their savings as their income increases won’t feel like they’re “missing” that money
  • The benefits of acting now to plan for your future
  • What the downsides are to being reactive
  • And more!

Join Justin now and discover the advantages of planning for your future now!

 Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

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Episode 58 - Finding Your Flow State

Episode 58 - Finding Your Flow State

October 16, 2019

Have you ever been so completely immersed in an activity that time seemed to not exist? This experience, sometimes referred to as being “in the zone,” is also known as being in a flow state.

In this episode, Justin Bennett walks you through his own experience with being in a flow state during an extreme endurance event called 29029 Everesting out in Utah. This challenge called on participants to climb 29,029 feet — the equivalent of Mount Everest — testing every ounce of willpower along the way.

In this episode, you’ll learn:

  • About an inside perspective of the 29029 Utah challenge
  • How Justin knew he had entered a flow state
  • What it feels like to be in a flow state
  • Examples of when you may be called to overcome a dark point
  • And more!

Tune in now to hear about Justin’s experience and to consider how you can find your own state of flow!

 

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Episode 57 - Your Firsthand Experience Matters More Than You Realize

Episode 57 - Your Firsthand Experience Matters More Than You Realize

October 7, 2019

Do you ever find yourself forming opinions based on someone else’s experience? Everyone has done this at some point. But what if you’re missing out on experiences and tools that can enrich your life, all because you’re borrowing another person’s experience?

In this episode, Justin Bennett elaborates on the incomparable value of firsthand experience and urges you to encounter the unknown for yourself. This is a rich conversation about the power of self-discovery.

In this episode, you’ll learn:

- How internalizing other people’s experiences can cause us to miss out
- How preconceived notions can affect your planning decisions
- Why self-discovery is a powerful approach to decision making
- And more!

Listen in now and learn why your firsthand experience matters more than you may realize!

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Exp 10/2021

Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

Episode 56 - Considerations for Transferring vs. Assuming Risk

Episode 56 - Considerations for Transferring vs. Assuming Risk

September 18, 2019

When it comes to your investments and insurance, you can either transfer or assume the risk, but how do you know which option is best for you?

Today, Justin Bennett talks about the decision-making process between transferring versus assuming risk, and what you need to take into consideration when making your decision.

In this episode, you’ll learn:

- Why planning around risk shouldn’t be done in a vacuum

- An example of when someone would have to decide whether to assume or transfer risk

- How transferring risk also applies to investments

- How business owners can decide to assume or transfer risk with their profit

- And more

Listen now to learn more about the difference between transferring and assuming risk with

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Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

 

Episode 55 - Are You Changing Your Planning For The Right Reasons?

Episode 55 - Are You Changing Your Planning For The Right Reasons?

September 11, 2019

Just like humans, the market and the financial industry are constantly evolving.

How are you keeping up?

Today, Justin Bennett highlights the importance of making the right planning changes that are appropriate for the times, and what it means to make changes for the right reasons.

In this episode, you’ll learn:

  • How the marketplace is different now compared to 10 years ago
  • How Bennett Financial addresses changing times with clients
  • Examples of some of the wrong reasons to change your planning
  • The right reasons for change
  • And more!

Join Justin now for another thought-provoking episode on how your planning should be changing along with the times — as long as it’s for the right reasons.

Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

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Episode 54 - Are You Spending Just Because You Can?

Episode 54 - Are You Spending Just Because You Can?

August 21, 2019

Should you spend money on that new car, that new pair of shoes, or that vacation just because you can?

We ask this question with zero judgment. Justin Bennett knows that high earners can struggle with balance and fall into spending patterns that lack purpose and never results in happiness.

Today, Justin explores what can happen when you ask yourself, “Just because I can, should I?”

In this episode, you’ll learn:

- A growing trend among Justin’s clients that’s proving to be contagious
- What often leads people to spend money just because they can
- How people end up being affected by their constant desire for more
- Justin’s recommendation for testing a new approach to spending
- About the true philosophy behind “different paradigm, different results”
- And more!

Listen now and explore this question with Justin: “Just because I can, should I?”

Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

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Episode 53 - 5 Ways Your Money Behaves in the Distribution Phase

Episode 53 - 5 Ways Your Money Behaves in the Distribution Phase

August 8, 2019

Did you know that your money behaves differently in the distribution phase compared to the accumulation phase?

Get a full understanding of what happens with your money when you’re in the distribution phase, otherwise known as retirement, by tuning in to this episode with Justin Bennett! Justin breaks down the differences between accumulation versus distribution and uncovers the five oft-overlooked categories of how money behaves during the distribution phase.

In this episode, you’ll learn:

- How your financial response to being injured or sick would change in the distribution phase
- Why volatility is not your friend during the distribution phase
- The five big ways money behaves differently during retirement
- How you can benefit from knowing these categories before you reach your distribution phase
- And more!

Tune in now and learn how your money’s behavior will change once you hit your distribution phase!

 

Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

 

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Episode 52 - Plan to Soften the Tax Impact Before Selling Your Business

Episode 52 - Plan to Soften the Tax Impact Before Selling Your Business

July 24, 2019

Business owners....don’t wait until after you’ve sold your business to think about softening your tax burden. Get proactive.

Today, Justin Bennett shares his words of advice for business owners who expect to have a large capital gain from the sale of their business. He explains how proactive planning can be done to spread out your tax liability over a long period of time. However, the key is to start planning now — not after you sell your business.

In this episode, you’ll learn:

  • What kind of planning the Internal Revenue Service allows for around tax liabilities
  • Why Justin recommends that business owners take a proactive approach to softening the tax burden
  • What steps the Bennett Financial team takes when the sale is pending
  • And more!

Listen now and consider how you could soften the tax impact on your wealth!

Resources:  Bennett Financial Group - Website | Bennett Financial Group Facebook Page 

 

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