TBJA 388 Building Sustainable Wealth: How To Rig The Financial Game In Your Favor, Garrett Gunderson

Listen to the Episode Below (00:31:02)
Brand Journalism, Marketing & More
Subscribe to build a Competitive Advantage in your marketplace

Garrett Gunderson shares how to earn interest rather than pay it and cut out the middle man. Plus his top tips to build sustainable wealth.

As an entrepreneur, financial advocate, the Founder of an Inc. 500 firm and author of the NY Times bestselling book Killing Sacred Cows, Garrett has dedicated his career to making personal finance for entrepreneurs simple, immediately actionable and even enjoyable.

Subscribe for Updates
Never miss a blog post again

Garrett has appeared multiple times on ABC News Now, Your World with Neil Cavuto on Fox, CNBC’s Squawk on the Street and more — and his first firm made the Inc 500. Read more at WealthFactory.com and follow him at Facebook.com/wealthfactory and Twitter.com/wealthfactory_

Icebreaker

I taught English in Korea when I was 18. 

Think Like A Journalist Quote

“The longer you’re not taking action the more money you’re losing.” –Carrie Wilkerson, author, speaker, and encourager.

Success Quote or Tip

“Wealth isn’t the man who has it but the man who lives it.” –Ben Franklin

Pay yourself first. Create your peace of mind fund.

Career Highlight

Garrett is proud of where he is in his marriage. He’s created an amazing relationship with his wife. To have a successful business, marriage, and life.

When It Didn’t Work

Garrett bought into a business to expand reach but didn’t work because he didn’t share the same values as one of the people who came on as a partner. It was four months of mediation and struggles. Find out what happened and how big the mistake was for Garrett.

Top Tips Building Sustainable Wealth: How to rig the financial game in your favor, earn interest rather than pay it, and cut out the middle man.

Live within your means.

Keep more of every dollar you make using the four “I”s.

93 percent of business owners tip the government through the IRS each year. Get an accounting team. Meet with your accounting team regularly.  Every three years get a new accounting team’s eyes on your finances.

Any expense that relates to your business can be turned into an IRS expense. 

  1. IRS: Learn to reclassify your income.  W2 income / distributions at 1099 could be a better way to get paid. 
  2. Insurance: look at deductibles and consider raising the deductible, look to group together for multiple policy discounts. Think about adding an Umbrella policy.
  3. Interest: most people are overpaying on interest. Boost your credit above 780 to lower your interest rates.Renegotiate your interest rate…ask to talk to the retention department.
  4. Investment: find out if you have hidden fees or commissions. Review with your financial planner. Watch out for Exorbitant fees. Consider 401ks and self-directed IRAs which can offer a flat fee for the year that’s less than other financial vehicles.

What is one piece of technology, video or multimedia equipment, or app that you just can’t live without?

OmniFocus app

One book, documentary, blog, podcast, or Internet Channel to watch?

The War Of Art, Steven Pressfield

Get a free audiobook when you try Audible free for 30 days:  www.audibletrial.com/TBJApodcast

OR to get a physical copy of the book…click the book title.

It’s an Amazon affiliate link. It won’t cost you more but it will send me a few coins to keep on building our crazy good content here. 🙂

Contact

Twitter @GarrettBGunderson

Wealth Factory website

Mentioned In This Episode

Thanks For Listening

I know that you have many choices when it comes to listening to podcasts. So, I want to say THANK YOU for choosing The Brand Journalism Advantage.

If you enjoyed today’s episode, please share it by using the social media buttons you see at the top and bottom of this page.

Also, I would love a review…it just takes a minute to share your opinion and rating for The Brand Journalism Advantage podcast on iTunes. Your review means a lot to me and helps others find my show. The reviews also help with the ranking of this show and they reviews are always read by me.

Please remember to subscribe to The Brand Journalism Advantage on iTunes, to get automatic updates every time a new episode goes live!

About The Author

Phoebe Chongchua

Phoebe Chongchua is a multimedia Brand Journalist, Brand Consultant & Marketing Strategist who is revolutionizing brand communication with consumers. She makes companies remarkable using brand journalism storytelling to grow their online presence, build a community, and gain greater market share. Phoebe is a former TV News journalist who helps brands gain a competitive advantage by learning to "Be the Media". Phoebe is the host of "The Brand Journalism Advantage" podcast and a "Top 50 Podcaster To Follow". Listen in iTunes or at ThinkLikeAJournalist.com

What Do You Think?

Leave A Response