Breaking Money Silence show

Breaking Money Silence

Summary: Discover How to Shatter Money Taboos A podcast series aimed at helping you talk more openly about money. Money silence has a crippling effort on all of us. Just look at these startling statistics: 50% of marriages end in divorce with financial conflict a leading contributor 69% of parents are more comfortable talking to their teens about sex than money 70% of women don’t negotiate their salaries, contributing to the gender wage gap Your host, Kathleen Burns Kingsbury, decided years ago that being quiet was not her strong suit. In this podcast, she uses her voice to empower her guests to identify and dispel money myths that block them from living financially and emotionally fulfilled lives. Each episode is only twenty minutes long so you can listen on your commute to and from work, while exercising in the gym, or in the comfort of your own home. If you want to engage in a wealth conversation with your partner, a parent, your kids, or your boss, this podcast series will show you how.

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Podcasts:

 Getting a prenup means we will divorce | File Type: audio/x-m4a | Duration: 00:22:44

Amanda D. Singer, San Diego Family Mediation Center  Does the idea of a prenup worry you that you have set the scene for a divorce or raise trust issues? While many believe that signing a prenup predicts divorce, it is actually a great way to break money silence before you walk down the aisle. Listen in as Kathleen interviews Amanda about how to bust this myth wide open and start communicating about money before you say “I do.”  Take aways:  All couples have a prenup even if you don’t craft one. States determine how assets will be split should a couple divorce. By drafting a prenup with your partner you are actually taking control and deciding for yourselves how you want your assets to be divided, if and when you do break up.  Prenups are no longer just for the ultra-wealthy. Historically, prenuptial agreements were a way of affluent families protecting themselves from gold diggers. Today more millennials with dual careers and business start-ups, and people entering their second marriages are signing these documents.  The prenup process opens up the lines of communication. If you identify your respective money mindsets, discuss similarities and differences in your family money messages, and agree how to financially operate as a couple, you actually are less likely to divorce. Yes, you sign a legal document but the experience is much richer than you might think.  Bio:  Amanda Singer, Esq., MDR, CDFA is a professional family mediator and co-owner of San Diego Family Mediation Center. She is also a licensed attorney and Certified Divorce Financial Analyst. She works to help families improve communication, solve problems and reach agreements while staying out of court. Amanda is on the board of Academy of Professional Family Mediators and is the co-chair of this year's conference. She earned her JD from Chapman University School of Law while completing her Master's Degree in Dispute Resolution from The Straus at Pepperdine University School of Law. She earned her Bachelor's Degree in Sociology from Brandies University and has completed her courses as a Certified Divorce Financial Analyst. San Diego Family Mediation Center works with families dealing with various family issues, including divorce mediation, premarital mediation, blended families and parenting plans.  For more information, visit www.SanDiegoFamilyMediation.com and check out the book, Prenups for Lovers  

 Myth: Financial planning is all about the numbers | File Type: audio/x-m4a | Duration: 00:22:51

Traditional financial planning focused on producing a plan with lots of numbers, charts, and graphs. This can leave clients feeling that finance is complex and hard to understand. For some clients, especially women, the perceived judgment by financial professionals gets in the way of them taking care of themselves financially. In this episode, Kathleen interviews Stephanie, an advisor dedicated to busting the myth that planning is all about the numbers and showing her clients that they can be empowered by working with a client-centric professional.  Take aways: Financial planning is the intersection between money and life. Knowing your numbers is important, but it is only one piece of your financial puzzle. Find an advisor who will help you identify your values and goals, then craft a financial and investment plan to assist you in living the life you desire.  You don’t have to have all the answers. You do, however, have to know the questions to ask when looking for a financial advisor. Consider what you want an advisor to help you with and then be clear about these goals when interviewing potential advisors. Take time, interview several professionals, and then hire the financial advisor who is the best fit for you.  Spend less than you make. Living within your means can be challenging because we live in a consumer-driven society. Practice mindful spending and examine your spending habits. Make sure you have an emergency fund to cover unexpected finances and develop a spending plan to keep you on track.  Bio:  Stephanie McCullough is passionate about helping women make wise financial decisions so they can control their future. In 2011, she started Sofia Financial after 13 years working as a financial advisor because she saw the needs of women not being met by traditional firms. The women who come to Stephanie are concerned about getting ready for retirement, wondering about how best to manage their financial risks, and, in general, worried about making smart decisions with their money.  Special Offer: Sign up for Sofia Financial’s quarterly newsletter and blog at www.sofiafinancial.com. Mention the Breaking Money Silence podcast and receive a complimentary 30-minute telephone call to chat about your personal situation.

 Myth: My kids are too young to teach them about money | File Type: audio/x-m4a | Duration: 00:24:51

Justin Pullaro, Co-Founder, Small Change When is it the ‘right time’ to start teaching our kids about money? How do you teach them about finance in ways that they will understand? In today’s episode, Kathleen interviews Justin Pullaro, Co-Founder of Small Change, to find out the best age to start money conversations with your children and how to make it fun and engaging. Listen to discover tips and tools for empowering your children, grandchildren, or nieces and nephews about finance.  Take Aways:  There is a lack of financial literacy resources for parents of young children. As a father of four, Justin decided to fill that gap and started his firm Small Change to offer parents and their children resources and information on how to incorporate money talk into their every day lives. Practice financial literacy immersion. Justin offers ways to incorporate small actions that promote a healthy relationship with money that don't require a lot of time and energy. By immersing your children at a young age in money conversations, you are communicating both verbally and with your actions that financial responsibility is an important life skill. You don’t have to be a financial expert. You can learn alongside your children and don’t have to know everything about finances to be able to teach them about money. Small change offers videos and tools to help you empower yourself and the young people in your life to break money silence in your family. Bio: A financial planner for more than 14 years, Justin Pullaro has helped families bring financial balance to their busy lives. He is also the co-founder of Small Change, a new financial education company helping families talk about money through short parent-focused videos and tangible tools for kids.  Special Offer: Breaking Money Silence podcast listeners will receive a 15% discount on Small Change resources. Click on this link to activate the discount on your entire order: https://www.growsmallchange.com/discount/KBKWealth

 Myth: Women have lower financial IQ than men. | File Type: audio/x-m4a | Duration: 00:21:31

Adrienne Penta, Executive Director Center for Women & Wealth, Brown Brothers Harriman While the audio quality of this episode is less than ideal, the information is valuable so we decided to publish it. Thank you for your patience with the sound. Adrienne Penta is truly a breaking money silence revolutionary! In this episode, Kathleen and Adrienne debunk the myth that women are less financially literate than men. Using statistics and her wealth of knowledge on the topic, Adrienne shows women and their advisors how to bust this falsehood and instead work at having a collaborative, and authentic advisor-client relationship. Take Aways:  Gender does not determine your financial IQ. Men and women pass financial literacy tests at the same rate; however, women are more likely to feel as if they don’t know enough about investing or managing money. The real issue is not literacy. It is a financial confidence gap that many (not all) women feel that is the problem to be solved. As Adrienne says, “We need to close the confidence gap.” Advisors can’t read your mind. As a client, it is important to speak up and let your advisor know what is working and is not working in the relationship. While this may be uncomfortable at first, it is the only way a professional will know that they are missing the mark when meeting with you. Collaborative meeting agendas help. One way to aid in advisor-client communication is to work on meeting agendas together. One week before the appointment, the advisor can send a tentative agenda to the client asking for feedback. The client then has an opportunity to add to the agenda or let the advisor know if there is something that feels more important to discuss. This simple step takes very little but has a big return on investment for both parties involved.  In this podcast, Adrienne mentioned a book she loves called “The Confidence Code.” As promised here is the link to that resources. Also if you would like to subscribe to the Center’s Women and Wealth Magazine, click here.  Bio: Adrienne Penta is the Executive Director of the Center for Women & Wealth (CW&W) at Brown Brothers Harriman. She is passionate about helping advisors and the women they serve engage in the cr

 Myth: To be a true artist you must starve. | File Type: audio/x-m4a | Duration: 00:21:30

Erin Bagwell, Dream, Girl Director; Feminist Wednesday Founder Do you really need to be a starving artist as you pursue your life’s passion? Many artists do allow the everyday pressures of simply making ends meet limit their growth and affect their money mindset. Kathleen interviews Erin Bagwell, director of the film Dream, Girl, about the myth that to be a true artist you must be poor and starving.  Takeaways: Many people are uncomfortable talking about money, but practice helps. Make time to practice engaging in money talks with a trusted friend or colleague. In time, these discussions will get easier. Find a tribe to support you and cheer you on as you change your money mindset from scarcity to abundance. Research shows that if you surround yourself with people who are committed to making and managing their money and letting go of under-earning tendencies, you are more likely to move up the socioeconomic ladder. Set aside a time each week to focus on your finances. If this is difficult for you to do, find an accountability partner such as a coach, a bookkeeper or another business owner. By making financial management a priority you will continue to learn and grow.  Bio:  Erin Bagwell is the founder of Feminist Wednesday, a feminist storytelling blog and the director of Dream, Girl a documentary film showcasing the stories of inspiring and ambitious female entrepreneurs. Dream, Girl premiered May 2016 at the White House and through her work with the film was named on Oprah's SuperSoul100. Dream, Girl is now available for public screenings and was the number one feminist film to watch by the Huffington Post.  Special offer: Check out Erin’s eBook, Creative Money, it can be purchased here.

 Myth: Your business will get you to retirement by itself | File Type: audio/x-m4a | Duration: 00:21:46

Josh Patrick, Stage 2 Planning Partners Owning and running your own business has many aspects to it including if you want to sell your business in the future. Many business owners don’t realistically plan their exit strategy and believe that working hard in the business will reap financial rewards sufficient to fund their retirement. In this episode, Kathleen interviews Josh about the steps business owners need to take now to build a sustainable business that is saleable tomorrow.  Take Aways: Be honest about your business. Is your business a lifestyle business (one that supports you financially now but is not saleable in the future) or a sustainable business that can be sold and run smoothly with you. Determine your short and long-term business goals. If you want to build a business that is saleable, you need to delegate, set up good operating systems, and have a strategic plan for your exit. Working with a consultant can help. Entrepreneurs are emotionally involved in their creation and often suffer from “shiny little light” syndrome (going from one idea to the next too quickly). Working with a consultant is a great way to learn the behaviors you need to succeed in business and set yourself up for a lucrative liquidity event.  Bio: Josh Patrick is the owner of Stage 2 Planning Partners and is a serial entrepreneur who is obsessed with what makes a private business economically and personally sustainable. He has been a blogger for the NY Times, Inc.com, Forbes.com, The Huffington Post and Open at American Express. He hosts the podcast, The Sustainable Business and is a regular blogger and Facebook Live presenter. For more information about his work visit  www.stage2planning.com or www.sustainablethebook.com.  Look for Josh’s Upcoming Book: Check out SustainableBook.com for the latest on Josh’s new book, Sustainable: A Fable About Creating a Personally and Economically Sustainable Business, which was published in January 2018. Join his Facebook group and receive tips, tools as well as access to special promotional book offers.

 Myth: For the average America, mutual funds are the only place to invest your savings | File Type: audio/x-m4a | Duration: 00:24:58

Janice Shade, Invest in Vermont, Milk Money - https://www.milkmoneyvt.com/ Janice Shade firmly believes that you have more investment options than many people are aware of and that crowdfunding is the wave of the future. Listen to this episode, as Kathleen interviews Janice about how you can invest in small, local businesses and see a return on investment right in your backyard. (Note: The contents of this episode should not be considered investment advice.)  Take Aways:  Investing in a local venture still has risk. Look at your risk comfort level and carve out 5-10% of your funds to invest in local companies. Don’t put all of your eggs in a local basket until you are savvier about investing in local companies or ventures. Diversification is always a good investment strategy. Just because you love a product or company doesn’t mean it is a good investment choice for you. It’s a great first indicator that you and others love the products or a company. But be sure to do your due diligence and look at the company’s business plan and history before investing. Find out more about the company’s leadership, mission statement, and short and long-term business plan before making a decision. The rubber hits the road when you look at the numbers of the company. Review the company’s profit and loss statement and consult with your financial advisor to help you assess the financial health of each enterprise. Here are some questions to consider asking the owner: How does your company make money? How much of your products or services do you think you are going to sell each year? What are the costs associated with making your product or providing your service? What are the other costs of running your business? Numbers don’t lie and owners should be able to answer these basic financial inquires if they want you to invest in their business. Bio:  Janice Shade is the co-founder of Milk Money, a pioneering "invest local" crowdfunding platform that supports Vermont’s entrepreneurial ecosystem. She is also a founding board member of the National Coalition for Community Capital and is seen as a national t

 Myth: I’ll know when I’ll need help managing my finances when I’m old. | File Type: audio/x-m4a | Duration: 00:25:00

Dr. Carolyn McClanahan, M.D. CFP®, Director of Financial Planning, Life Planning Partners www.whealthcareplan.com     People tend to be in denial about needing help managing their finances and everyday life routines as they get older. The consequences of not talking about and planning for the aging process with your family can be emotionally and financially devastating. The good news is financial planners like Carolyn McClanahan know the risks are high and work with their clients and other advisors to make sure these conversations are occurring. In this episode, Kathleen interviews Carolyn about this myth and how you and your family members can bust through it before it’s too late.  Take Aways:  Consider creating a Financial Care Taking Plan. This plan answers the question, “Who will take care of your finances if you become unable to do so?” Take time to consider how financial decisions will be made if you get into an accident, have a medical crisis, or experience some cognitive decline that prevents you paying bills, managing your investments, and making sure your assets are protected. Let family members know where accounts are and consider adding them to these accounts in case of emergency. Decide on the best living situation as you age. Talk with your family and your healthcare professional about your options. If you want to continue to live in your home as you age, find out what type of home healthcare is available, the cost of the care, and what home improvements (ex. adding hand railing in the bathrooms or making the home wheelchair accessible) Also explore assisted-living housing options in your area in case staying in your house no longer becomes feasible. Determine when you will stop driving. Driving is one of the hotter topics family members have to deal with as their parents or spouse age. Be proactive and design a transportation plan for getting around if you no longer can drive. Many families use car services, taxis, and Ubers in addition to enlisting relatives to help out. It helps to designate a family member now, when you are capable of driving, to let you know when it is time to get off the road. Communicate your healthcare wishes. Make sure you craft an estate plan with an estate attorney’s help that includes a healthcare proxy. This is a fancy word for designating a person to make healthcare decisions if you are not medically or emotionally capable of doing so. Ask yourself, “Who will help you make or to make the healthcare decisions if you cannot speak for yourself?” Once you have decided on a health care proxy, communicate your preferences for your end-of-life care. While this is a topic that may be hard to focus on now when you are healthy, letting your family kn

 Myth: Women are not interested in finance. | File Type: audio/x-m4a | Duration: 00:19:54

Kathleen Peace, Partner and Financial Consultant, Woodgate Financial Join Kathleen and her guest Kathleen Peace as they bust this myth wide open and show you how women are just as savvy and interested in finances as men. Find out how even women who are labeled as “gold diggers” are demonstrating their interest in money and wealth, and discover tips for challenging your thinking when it comes to this fallacy.  Key Take Aways  Women investors and traders actually perform better than their male counterparts due to their calm, and more methodical approach to managing and investing money.  Listeners should ask the women in their lives (wives, mothers, sisters or daughters) if they are interested in finance. If these women say no, then find out why not. For those who truly are disinterested, use this underlying cause as a pathway into making financial conversations more relevant to their lives and give them a positive experience of talking about money.  To find out more about where your money is going, track the inflows and outflows of cash in your life. Seeing where the money flows is a great place to start examining if you are using your resources in a way that is congruent with your values and goals.  Bio: Kathleen Peace, Partner and Financial Consultant, Woodgate Financial, has more than two decades of experience in the financial industry and has dedicated her career to being an ally and resource for female entrepreneurs.  After spending the first half of her working life on Bay and Wall Streets, she returned to Toronto to start a family and spend more of her professional life directly helping people. Now she combines her financial prowess and love for building community by acting as a personal CFO and champion to a group of driven, successful women.  Her specialties include corporate reorganization, planning for and effectively managing liquidity events, socially responsible investing, financial issues of divorce and estate planning.

 Myth: Men should manage the money. | File Type: audio/mpeg | Duration: 00:21:18

Stacy Francis, CFP®, CDFA®, CES™, Francis Financial  The myth that men should manage the money is one that many women succumb to when they get married. This includes women who for years managed their own money during college and at the beginning of a career. However, approximately 80% of women will end up having to manage their money without a partner at some point in their life due to divorce or the death of a spouse. Stacy and Kathleen investigate this myth and how it can severely disadvantage women throughout their lives. Take Aways: The upside. There is an upside to men always managing the money. In the short run, some women who are intimidated by finances or who don’t feel they have the time to devote to money management get relief from this responsibility. Eventually, the upside diminishes and can create a real problem for women after a divorce, or the death of their partner.  Try a money date. A great way to get more comfortable with money is to have a date night to talk about finances in a non-threatening and engaging way. Listen and learn how Stacy and her husband have gotten creative with their money dates so everyone gets their needs met.  Use apps. It is important for each person to fully understand where the money is going. Using finance tools like Mint.com is a great way to integrate spending with education about where your money is going. It is an easy online system that connects with your bank accounts, tracks your spending, and even categorizes them for you.  Bio: Stacy Francis, CFP®, CDFA®, CES™  Stacy is the President and CEO of Francis Financial, which she founded 15 years ago. She is a Certified Financial Planner® (CFP®), Certified Divorce Financial Analyst® (CDFA®) and a Certified Estate and Trust Specialist (CES™). She is also the founder of Savvy Ladies™, a nonprofit that has provided free personal finance education and resources to over 15,000 women.  Stacy has received numerous awards including Investment News Top 20 Women to Watch in the United States, Financial Planning Association’s Heart of Financial Planning Award and Financial Planning Magazine's Pro Bono Award. She was also listed as a National Money Hero by CNN Money Magazine and received the Women’s Choice Award for one of the best financial advisors for women.  She is a nationally-recognized financial expert as an active member of CNBC’s Digital Financial Advisor Council, the Forbes Finance Council, as well as an expert contributor for The Wall Street Journal. She has appeared in over 100 media outlets including CNBC, CNN, Good Morning America, Investment News, Money Magazine, NBC, The New York Times, and USA Today. 

 Myth: Parents must protect their children from college financing decisions | File Type: audio/mpeg | Duration: 00:24:50

Ryan Lane, Senior Editor, American Student Assistance  The college selection process is complex and stressful, and many parents fail to discuss the long-term financial ramifications of taking on student loan debt with their children. In today’s episode, Kathleen and Ryan discuss how many parents try to protect their children by not talking about money, but do the family a disservice by not engaging in this important and enlightening conversation. Ryan offers tips for involving your children in the college funding decision-making process and how doing so can help them avoid huge student loan debt when they graduate from school.  Take Aways:  Start the college application process early by involving your children in the FAFSA process and talking about different ways to finance their education, such as loans, grants, scholarships, and good old hard work. Schedule a money talk with your children to discuss the FAFSA results, repayment schedule, how it may affect their college choice. Create a mock budget to demonstrate the long-term, real-life impact of each of the funding options. When discussing this topic with recent graduates, encourage them to pay down student loans faster by making an extra payment per year. Have your child calculate the amount of money saved by avoiding additional interest expenses. Then brainstorm all the other ways they could use this cash. For example, if you save $1000 in interest expense, what could you buy instead? A long weekend in Bermuda comes to mind?! Guest Bio: Ryan Lane is the Senior Editor, at the national nonprofit American Student Assistance. In his role, he oversees the development of articles, infographics, course materials for the organization’s free education finance support program: Salt. Working with internal and external subject matter experts, Ryan creates content that simplifies the world of college financing and helps families successfully plan for, pay for, and repay higher education expenses. Over the past three years, he has written about student loans as a co-author of the U.S. News & World Report Blog "The Student Loan Ranger." For more information about Ryan and the ASA, visit http://www.asa.org/.

 Myth: Spending is bad | File Type: audio/mpeg | Duration: 00:21:55

Brittney Castro, CFP®. CRPC®, AAMS®, Founder and CEO, Financially Wise Women  Many of us grew up with the financial psychology mindset that spending money is bad. For example, do you cringe when you spend money or feel guilty? Do you hide your spending from family members? If so, then today’s episode is for you. Kathleen interviews Brittney Castro about spending – the good and the bad – and busts the myth that all spending is bad. Listen in and you may find that this show affects your spending habits and your romantic relationships.  Take Aways:  Conscientious spending is an important part of an overall financial plan. Therefore, when you develop a budget, it’s important to allocate money towards areas that you value most. These areas are those that bring you happiness or joy in your everyday life. For example, one area may be self-care. Investing in restorative activities makes you better able to take care of others and achieve more life/work balance. Money is a tool to invest in yourself for the long term. By investing in yourself in the long term, you can gain more self-confidence and strengthen your relationships. It’s all about the journey and progress over perfection. Don’t be afraid to ask for help. There is no limit to the help you can ask for and actually asking for assistance makes your life easier and more fun! So build a team or find the resources to help you achieve your goals. As I always say, “Practice receiving! Guest Bio:   Brittney Castro is the founder and CEO of Financially Wise Women, a Los Angeles-based financial planning firm whose mission is to teach women and couples the art of managing their money the fun and simple way. As a Certified Financial Planner® and speaker, Brittney works with busy professional women and couples who are ready to make their finances work for them and use their money to live the lives of their dreams.  You may have seen Brittney on CNN, CNBC, or CBS. Or you may have read her articles in The Wall Street Journal, The New York Times, or Glamour. Because she just loves spreading her wisdom about finance, entrepreneurship and smart investing to the masses. Follow her on twitter @BrittneyCastro.    Special Offer: Free Money Class training series - Get access to the trainings here. Brittney has put together a free video training series that talks about what it really takes to be confident, empowered and feel intelligent in this area of your life. Full disclosure, KBK is an affiliate for this program.  Click here (https://ih106.isrefer.com/go/mc2014/kbkspeaks/) to learn more.  

 Myth: Only male entrepreneurs are interested in growing their businesses | File Type: audio/mpeg | Duration: 00:21:15

There are many myths about entrepreneurship that can reinforce stereotypes, one of which is that only men want to grow their businesses. Kathleen and Ann bust open this myth and teach listeners the facts about female entrepreneurs and their desire to compete with the big boys. Listen in to their discussion about how women entrepreneurs can position themselves for growth, obtain venture capital, and overcome roadblocks they may face in the process.  Key Take Aways:  Women entrepreneurs are interested in growing their businesses but typically approach the growth process differently than their male counterparts.  Research shows that venture capitalists and bankers ask business owners different questions based on gender and these inquiries influence how funding is provided.  Both women entrepreneurs and the financial services professional who work with them need to learn how to communicate in a more gender savvy manner and how doing so is a win for both their businesses and their clients.  Guest Bio:  Ann Bradt, co-founder of Capital Ready is an accomplished expert in the financial services industry, implementing progressive people strategies for over two decades as a human resources professional at a major Canadian bank. Her extensive experience includes talent planning, leadership development, executive succession, and developing learning strategies. Ann’s passion and drive have equipped her with a broad knowledge of the industry, with her career spanning Canada, the United Kingdom, and the United States.  Capital Ready work with established businesses to help them grow and offer strategic blueprints and action plans to assess barriers and identify opportunities to optimize human and financial capital. To learn more about Capital Ready, visit www.capitalready.ca. Follow us on twitter @CapitalReadyInc  

 Myth: I don’t need to talk about finances before getting married. | File Type: audio/mpeg | Duration: 00:20:43

Julie Lawrence, CFP®, Lawrence Financial Planning, LLC Myth: I don’t need to talk about finances before getting married. Not talking about money is the number two reason couples divorce according to Marriage.com. But couples who discuss money matters regularly act as a team and report greater levels of satisfaction with their partners. In today’s episode, Kathleen and Julie Lawrence, CFP®, examine the myth that couples don’t need to talk about finances before getting married. Listen in and learn some tips for talking about money with your honey!  Key Take Aways:    Julie shares how she facilitates the telling of each partner’s money biography (consisting of a list of open-ended questions) and how this strategy helps the couple she works with discover their respective money mindsets. Communicating honestly about your saving and spending behaviors can be challenging. But doing so can really help partners understand each other. You may not change your money behaviors, but together you can commit and work toward shared couple goals. Different strategies work for different money personalities. For example, if you are a spender, setting up an automatic savings withdrawal each month makes sense. If you don’t see the money, you won’t spend it!  Julie Lawrence, CFP® opened Lawrence Financial Planning in 2009. She has more than 28 years of experience in finance and management and holds a B.A. in Management from National Louis University.  Julie has been quoted in Financial Planning magazine, Investment News, NAPFA Advisor magazine, the Saint Petersburg Times, MSNMoney.com, the Chicago Tribune and FinancialPlanning.com. She serves as a mentor for new ACP financial planners and is an active member of NAPFA.  Julie has lived in Florida since 1977. She has three children. In her spare time she practices yoga, walks, and goes kayaking.  

 Myth: Keeping business costs as low as possible maximizes profits | File Type: audio/mpeg | Duration: 00:24:27

Many business owners believe they should maximize their profits by keeping their expenses as low as possible. In this episode, Ken Lizotte and Kathleen explore when, how, and why to invest in yourself and in your business and how that leads to sustainable profitability. As you find out, spending money to develop skills or expand your business can actually set you apart from the competition. It is what both these successful thought leaders have done, so listen in and find out how to bust this myth wide open. Key Take Aways:   Anticipate expenses. As Ken says, when you do your annual budget, set aside some resources for marketing and personal growth courses or coaching. Trust your gut. Not all investments, coaches or training programs are for all people. Do your research, and then trust your instincts. Learn from your mistakes. Part of being a business owner is taking risks and sometimes failing. When you realize that you have made a poor investment of your time or money, change course. It can be difficult to realize you have made a mistake, but the sooner you do and the quicker you change course, the better off you and your business will be.  Guest Bio: Ken Lizotte is the author of seven books including his most recent The Speaker’s Edge: the Ultimate Go-To Guide for Locating and Landing Lots of Speaking Gigs (Maven House Press) and The Expert’s Edge: Become the Go-To Authority that People Turn to Every Time (McGraw-Hill). He is the Chief Imaginative Officer of emerson consulting group inc., a Concord, Massachusetts, consulting firm that transforms speakers and consultants into “thought leaders” by helping them write and publish their ideas as articles and books. Kathleen has worked with Ken since 2010. Ken lives in Concord, Massachusetts, with his wife Barbara, daughter Chloe, and Golden Retriever puppy Beckett. Special Announcement: Check out Ken’s latest collaboration, “What Would Henry Do? Essays for the 21st Century” with Introduction by Ken and featured essays by 40 scholars, activists, authors, and celebrities including President Jimmy Carter. Published by Thoreau Farm, the birthplace of Henry David Thoreau as a fundraiser.  

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