Wealth Standard Radio Podcast

John Oliver’s Problem with Financial Advisors and Wall Street – Episode 153

The financial industry clearly has a retirement problem. Right now, over half of Americans are not saving enough money to retire. In fact, you might even be one of them! On his last show, the comedian John Oliver sat down to try to tackle some of the problems facing the financial industry today. So how did he do?

According to our host Patrick Donohoe and special guests Bryan McCloskey and Gary Pinkerton, not too bad. John started out strong by addressing some dismal statistics about our retirement readiness and financial preparedness, highlighting the need for change. He went over some of the problems wall street has with helping people manage their money today – hidden fees, financial advisors motivated primarily by self-interest to the detriment of their clients, and poor money personal money management.

However, unfortunately, the conclusion he came to was lackluster. He suggesting that legal regulation and a switch from actively managed wall street accounts to index accounts. Unfortunately, the baseline of his suggestion was to switch from one unaccountable, risky place to store your money to another, slightly cheaper, unaccountable place to store your money and to rely on the government to fix the problems in the financial industry from the outside.

Patrick, Gary, and Bryan talk about the great importance of fixing the system from the inside out and the benefits of change that starts on the inside. They also talk about the importance of finding alternatives from Wall Street altogether – safe places to store your money where what benefits you benefits the financial advisors you’re working with. Finally, the discuss the necessity for taking personal responsibility for our own mistakes and for our own money.

You can find the video Patrick discusses on this episode here. Tune it to our weekly shows on YouTube and Tunein!  We also love to receive your feedback, thoughts, and comments on Twitter, Facebook, and the iTunes store. Or, you can email us at info@paradigmlife.net

Investing In Assisted Living – Episode 152

The baby boomer generation is getting older, and right now, so are therir parents. Many baby boomers now are facing the challenge of trying to figure out how to help and care for their parents as they age and become increasingly less able to take care of themselves while living much longer than the previous generation. Many of baby boomers are realizing that their parents need constant attention and monitoring that they are simply unable to provide. Many of people turn to residential assisted living in order to provide their aging parents with support they need.

Fortunately, every problem represents an opportunity. Today we welcome Gene Guarino, CEO of Residential Assisted Living Academy and one of the upcoming speakers for the Cash Flow Wealth Summit! Gene Guarino sits down with Patrick to explain the real estate opportunity that residential assisted living facilities represent.

Gene talks about how his struggles to care for and find an appropriate home for his own parents spurred him to want to provide similar solutions and care for others, who may be struggling to find a high quality assisted living residence for their parents and also balance a checkbook. Gene explains how baby boomers can increase their cash flow with residential assisted living while also providing a home for their parents! Tune in to find out more about his incredible solutions, real estate expertise, and business genius.

Tune it to our weekly shows on YouTube and Tunein!  We also love to receive your feedback, thoughts, and comments on Twitter, Facebook, and the iTunes store. Or, you can email us at info@paradigmlife.net

Investing Institutionally for Free – Episode 151

How would you like to be able to invest institutionally for free? Today Patrick Donohoe and guest Christian Allen talk about the somewhat complex topic of investing institutionally for free. First of all, Patrick and Christian discuss the importance of being able to look at the world with a positive spin and “look at how much is working”. They talk about the complex webs that surround us and enables us to function, and the importance of avoiding our natural tendency to be afraid and ‘doomsday thinking’. Once we can overcome our fears, we can start to prepare for success and take appropriate and well thought through risks.

They also discuss the importance of education, and finding solutions, not products. They talk about the importance of asking yourself questions – why I am doing this, what do I want out of this? Patrick talks about the moral obligation he feels he has to over-educate when it comes to sales.

Patrick and Christian then discuss the difference between whole life insurance and stock companies. Whole life insurance companies are beholden to stockholders, and stock companies are beholden to policyholders. They discuss how whole life insurance companies are able to make long term plans that pay off as far as fifty years into the future, while in contrast stock companies are forced to make decisions that make them look good quarter to quarter. Finally, they discuss the importance of preparing yourself to take advantage of the opportunities that inevitably will come when disruption occurs.

Tune it to our weekly shows on YouTube and Tunein!  We also love to receive your feedback, thoughts, and comments on Twitter, Facebook, and the iTunes store. Or, you can email us at info@paradigmlife.net

Live From Jekyll Island – Episode 150

Today’s Wealth Standard Radio Podcast is coming to you live from Jekyll Island, the place where a group of the world’s wealthiest and most powerful men came together in the nineteen hundreds to plan the very first federal reserve. Patrick talks about the effects that the federal reserve has had on the stability of the economy, our lifestyles, and on the national debt.

Before the federal reserve and the central bank, the amount of money the government could print was limited – now it is completely arbitrary. As much or as little money can be printed as politicians desire. This means that inflated currency can enter our economy and temporarily boost the economy and solve economic problems. However, this temporary wealth comes at a greater cost – inflation and the creation of a bubble that must eventually burst.

Patrick talks about the importance of keeping our personal finance on solid ground and living in reality. He cautions against spending money you don’t have or expect to earn later. Although there are some benefits to readily available money through loans or through the federal reserve, Patrick talks about why we need to carefully consider the significant downfalls or those options before eagerly accepting their supposed benefits.

Tune it to our weekly shows on YouTube and Tunein!  We also love to receive your feedback, thoughts, and comments on Twitter, Facebook, and the iTunes store. Or, you can email us at info@paradigmlife.net

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