It’s Time For a Financial Intervention | Mark J Kohler | CPA | Attorney
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It’s Time For a Financial Intervention | Mark J Kohler | CPA | Attorney


Hey, let’s face it we’re all a little financially broken it’s hard to bring it all together and make sense of Where we should be putting our money and how to make a little bit more how to get out of debt Folks we all need a financial intervention once in a while This video is going to bring it together and give you some really helpful resources Now my name’s mark Kohler and I’m a CPA attorney best-selling author a radio show host but and a partner in a CPA firm in a law firm and the reason why I share that is Because I have consultations with clients every day from around the country wage earners corporate America just getting out of college trying to make ends meet and small business owners and The financial landscape and trying to make sense of it and build our freedom. Our financial freedom is hard It’s hard and who do we talk to about this that can really tailor to our situation? Well, I want to hit four points that can help you get into that financial landscape They and where you want to be. So here it is. This is my Bob Ross interpretation now I was just happy that my trees are bigger here and smaller there. I’ve watched a couple Bob Ross video. So that’s about it That’s all you’re gonna get. But this is it. This is a scene that came to me almost in a vision I was so excited about it and inspired in my new book the business owners guide to financial freedom this this this landscape Was kind of the thought I had to help make sense of this So out here in the future is where we want to be some financial freedom some financial flexibility But we got to get through the gates and then where do we deploy this money? Where do we go from here? Well, let’s break it down Here’s where we start outside the gate believe it or not. I meet clients all the time that are like all over the place They’re putting money in a 401k. They got huge credit card debt they’re trying to pull money out of their retirement account to pay for their kids college and Folks that are just getting started In in a job they hate and they don’t know how to get through that glass ceiling and make more money. It can be Confusing it can be frustrating to be suffocating So where do I want you to start outside the landscape? I want you outside the gate doing three things number one We got to get out of debt For some of you that maybe just have a few thousand dollars in credit card debt and some of you that are have crippling debt That’s destroying your life and your marriage and your family relationships start with a debt snowball email me My information is below. I will send you a debt snowball Excel spreadsheet and video of how to get started to get out of debt faster than you dreamed There’s no money in it for me No, it’s just I hope my clients get out of debt because we can’t even start investing We can’t even start the process without tackling that consumer debt first and foremost now, there’s good debt I want you to use debt to buy a home buy some real estate create wealth. That’s okay, but credit card debt We’ve got to get out of it. We got to use it wisely and I’m all over using credit card points and all that That’s a whole other topic, but number one Let’s get out of debt, email me and I’ll send you a snowball you can start right now Number two. I want to reserve before we can start investing. I got to have a safety net That’s why a lot of times people get in credit card debt because life happens they go to their credit cards and then I’ll send their ran up and we’re trying to get out of this hole so Reserves I have a whole chapter in my book on how much your reserve should be. I did I’d love Dave Ramsey love him and he of course teaches that we should have $500 to $1,000 just right out of the gate cash Millions of Americans don’t even access to $500 in cash. It’s scary I want you to start there follow Dave Ramsey on that. He’s a magician, you know, he’s taught us so much We want 500 to a thousand dollars in reserve before we start saving we got to get out of debt We got to build a reserve. Those are the first two steps Now number three I want to create more income and this is where I think Dave Ramsey stops spend a lot of his information He’s like pay off your home. Get out of debt get a reserve. That’s cool. That’s great But I’ve got millions of small business owners in America that are thinking. Okay. How can I Get more wealth going passive wealth going. I’m strapped by my business. You’re strapped by your day job. You hate your day job What do we do next? And how do we create that financial freedom? Well, I got to have some money to work with so number three is creating more income Now for some of you that may be starting a small business on the side Selling something on ebay starting a little service business working some nights and weekends on a small business where your rate per hour your revenue Is better than working for someone else some user already. Have a small business I want to think about other revenue streams expand your business model expanding your business plan using a strategic plan I have all chapter in my book on building a better strategic plan to create more wealth Faster also some of you that are like Martin. I don’t want that small business crap. I got a day job I’m happy with that, but I’m still living month-to-month. We need to cut costs. Maybe it’s time to downgrade where we live where we our cars our living expenses our Spending habits. We got a tone that down My challenge is could you create another $500 a month somewhere extra revenue in your business a side job another small business? along with your day job Maybe cutting costs in your life. If you can create five hundred dollars a month. That’s six thousand dollars a year You start saving that over 20 years from now you’re gonna have a half a million dollars guys. I meet with folks Every week I have a phone call with someone That’s like scared to death. They’re in their 50s or 60s with no retirement. They don’t know what to do they don’t know where to go and I want to just grab my Millennials any of you that are in your 20s and say start saving now just a little bit in 20 years from now It’s gonna blow up you’re gonna have a retirement you gonna have a future So either you’re gonna save some money or make some extra money and I’m gonna use that money To create your reserve and then we’re gonna pay off debt And once we get a little all of our debt paid off get a little bit of reserve Then I can take that extra money and enter the landscape where we come to number four Now in the landscape a lot of people kind of question, where should I deploy my money? My business is profitable I got a great day job, but where do I put my money? Well first I want you to use those retirement and kennels effectively If you’ve got a day job you you’re gonna use your little 401k plan and get the matching and then get out Let’s deploy that many somewhere else. How many of you own your own home? What are the first best investments in? many Financial advisors opinion and in mind is let’s get your own home going if you can now some you may live in an urban area where It’s really not practical that you buy your first home. Maybe it’s cheaper to rent and invest. That’s okay Don’t get brainwashed until you gotta buy your own home and pay it off as fast as possible Let you use your revenue that Revenue, you’re creating and put it in the best places if you’ve got that day job in the 401k match Are you doing an IRA are you doing a Roth? Are you investing that money properly? Maybe inside your IRA or an old job some of you that have kind of captured some income over the years Could we self-direct? Could you use that IRA or 401k and buy real estate? I was just on my Street this last night Talking to a neighbor and they’ve got a friend down the street that owns a rental property in his 401 K His 401 K wasn’t killing it in the market So he took his 401 K and bought a rental in fact he has three in those little three or four block radius of where we live and That’s what he does with his 401 K. Is he buys real estate? He gets a better rate of return He’s stoked on that. Did you do cryptocurrency? Some people are excited about that day trading? Could you do trade raw land or you want to do notes or in some sort of? First trusty lending or hard money lending. There’s so many different things you can do with your money Once you enter that landscape, but we got to get out of debt We’ve got to have a reserve and we’ve got to create extra income Through some method whether it’s saving or extra revenue in a small business or expanding our business folks This is the financial landscape. This is a financial intervention. We’ve got five attorneys at our office in six seven CPAs We meet with clients every day trying to help them tailor a plan to themselves Find that professional you believe in that you trust Give them give them an hourly rate of once or twice a year for an hour pay him for an hour say what can you do in my life if they’re not talking like this if they’re not coming up with a plan you got the Wrong professional move on find someone down the street or across the country It doesn’t matter but folks we all are a little broken I’ve gone through I can’t count how many financial interventions in my life when I was young working with my parents when I was out of college and Starting to try to start a small business all these things. We all go through different phases of our life We’re all in a different spot in our landscape and it’s okay to ask for help It’s okay to pay for some help sometimes Watching a video like this is a great place to start but then you got to take the initiative and pay an advisor to help You someone that’s not selling something so that has a fiduciary duty To help you do what’s best for you Not gonna sell you a plan or some financial product or blah blah blah Get someone that’s looking out for you having an intervention build a Board of Advisors These are all topics in my book financial freedom get it’s over an Amazon. You’ll love it But I got so many other videos so many so many resources a great newsletter, please if you’re enjoying this conversation And it’s helpful at all videos over follow me get some more advice and help with some of the information I produce Thanks so much and keep living the dream. It’s real don’t give up Thanks so much for watching that video and I want to be your source for tax and legal strategies It’s hard enough to live the American dream Without being out on the web on Google trying to find answers to complex questions and just click in a mouse hoping you got it, right my team and I want to be a huge resource treatment the law firm accounting firm my Education resources on my site. Please continue to follow these strategies I know the safety thousands now click here if you want to be a part of my newsletter It’s awesome weekly updates and deadlines and strategies and tips also subscribe to my youtube channel You’ll love it and make sure to click the bell icon So you get a little ping whenever there’s a new video and finally check out my site Marjory Kohler comm with all sorts of videos Probably 70 plus videos 30 plus hours of content that’ll save you thousands

8 Comments

  • ankush puri

    Love your advice Mark. Can you create a video focussing on strategies & investments for people on Visa like H1B, L1 etc? Being on Visa, I can only work for my employer and would like to to learn how to maximize on my returns rather than keeping money in bank

  • Junior Rodriguez

    i am glad i came across your videos at 24 yrs old. You give me Hope to become financially free and enjoy my life to its full potential. Thank You Mark.

  • Bethany Baker

    Oh, man. We finally woke up a couple of years ago. We had the good investment of a good house, but then we took 2 years to pay off all the cc debt, and we started a little side service business. Even after being so good paying off the debt, we struggle with #2 and budgeting. We are 35 and haven't started taking retirement seriously. It's so bad. Thanks for the video.

  • Alexander Remington International Associates Inc, "ARI"

    Could a 401k be the sole shareholder of a C Corp? Then when the company is sold the gain is inside the 401k.

  • Robert McCuiston

    Well if Mark doesn't excite you, go then watch a boring football game and your life stays the same. New Years resolutions made by people make my ass so tired, because a year from now their life is either exactly the same or worse:) So follow Roger and I and buy both of his books, and drive from Colorado to Utah and meet his team, as we will next week. My idol is Mark not some Football star or some Hollywood star or sitting on my fat ass watching mindless TV day after day hoping for something to change in my life:) Life is rather easy if you get the knowledge from people such as Mark or his team and makes life worth living for yourself and your loved ones. As the saying goes "You can lead a donkey to water, but you can't change him from being a ass" Hope all enjoys my humor, you don't have to follow me or Roger as we are just fine these days.

  • Chris Plunkett

    The only thing I'm confused about is how Mark isn't way more popular that he is. I mean seriously great info in his videos.

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