Real Money Talks

Get Sharon and Loral Book Bundle Here: http://askloral.com/sharon Sharon Lechter is joining us on the podcast today.  Sharon Lechter is an entrepreneur, author, philanthropist, international speaker, and Chartered Global Management Accountant. Regarded as a global expert on financial literacy, Sharon has served as a national spokeswoman and Presidential Adviser on the topic for two US Presidents. She will be sharing her new book, Exit Pass.  In this episode, Sharon shares everything you need to know about financial literacy.  She shares about what intellectual property is and how you can define, highlight, and protect your intangible assets to get the most out of your company. She also talks about business systems, mistakes to avoid, and things to think about as a new entrepreneur.    Show Notes: [02:12] Sharon got her degree in accounting.  Around the age of 25, she decided to jump into entrepreneurship.   [03:46] In December of 1992 she dedicated the rest of her career to financial literacy. They teach the power of buying, building, and creating income-producing assets.   [05:58] Sharon also served President Bush on the first president’s Advisory Council on Financial Literacy.  She served President Bush and President Obama.   [05:50] She has also written twenty-six books. Her new book is called Exit Rich.  [07:40] Business systems are what allows your business to scale. It is what allows you to manage your business.   [09:08] When you start your business, you should be thinking about your exit from the start so you build a business, not a job.    [10:14] If you build the right systems and have the right people in your company, you get your time back because you have people running your systems.  You are getting your time back.     [11:48] It is so important to understand what you need to have in place to secure the rights and ownership of your intellectual property.   [13:26] Most people haven’t identified what intellectual property they actually have.   [14:39] The better that you can define, outline, and highlight and protect your intangible assets, the higher price you are going to get.  [15:38] Understanding from the very beginning positioning yourself to be able to identify who you are and how you stand up.  [16:44] Don’t manage people. Manage systems.  [18:28] As a business owner wanting to sell, you protect your people.  [20:03] Brokers have the experience to make sure you have all the documentation in place and they also have buyers ready to purchase.  [22:12] When you have somebody as an independent contractor it is so important to have a written agreement.  [24:12] “The person with the biggest database wins.” -Bob Proctor  [25:50] Give your followers a gift to get them to come home to your database so you own those names.  You can continue to maintain that relationship and have a lifetime value of customers.   [26:18] Social media isn’t necessarily sustainable because we are not in control of that destiny.  The social media platforms are your lead generation.  [27:23] Grab Sharon’s new book Exit Rich here.  [28:11] One idea can add incredible evaluation or add sales because it is helping you streamline your operations whether you are exiting or not.  [28:54] You want to structure your business so it can become an economic engine that supports you and your family for generations.    Links and Resources: Ask Loral App: https://apple.co/3eIgGcX  Loral on Facebook: https://www.facebook.com/askloral/  Loral on YouTube: https://www.youtube.com/user/lorallive/videos  Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/  Money Rules: https://integratedwealthsystems.com/money-rules/  Millionaire Maker Store: https://millionairemakerstore.com/  Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/  Integrated Wealth Systems: https://integratedwealthsystems.com/  Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates  Exit Rich: http://www.askloral.com/sharon 

In this episode, we are going to talk about insurance.  There is life insurance and death insurance.  Today we are focusing on life insurance. Today I am joined by Jason Henderson.  Jason is an insurance expert who is going to talk about why you need life insurance.   In this episode, Jason shares everything you need to know about cash-value insurance.  He shares ways to get started as well as questions you need to be asking yourself to take advantage of extra cash flow now.  He also talks about the numerous benefits including more cash flow and tax benefits.     Show Notes: [01:09] You need a trust to avoid probate.  You need a doable power of attorney with everything going on with COVID. Life insurance is going to recession-proof and economy-proof your portfolio.  A lot of people are too heavy in one asset class.   [01:35] Jason has been doing insurance work for about sixteen years previous to those years he was a scientist.  [03:05] Jason shares why he pivoted from science to insurance.  [03:58] Insurance isn’t a necessary evil.  It is an asset.  [04:44] There is a different type of life insurance where you actually become the first beneficiary of the policy.  It is a type of insurance meant to help in tough times so you are able to do what you set out to do in life.   [05:30] With this type of insurance you are actually buying a portion of the insurance company that can be sold.  It is an asset that is guaranteed to increase in value every single year.   [07:24] Cash-value life insurance is not changed very much based on the current presidential administration.   [08:11] The death benefit comes income tax-free to your beneficiaries.  [09:28] Cash-value life insurance already has disability and long-term care built into it.   [11:01] A policy can be designed toward cash value accumulation or towards death benefits.   [11:55] If you design it right a major portion of your first year’s premium is going to be available in cash for you to use.  Each year you are going to have access to even more.  [13:57] Most people when they talk about life insurance they talk in terms of death benefits.   [14:27] It is all about the cash and using that cash to build wealth in other ways.  [16:18] We always want to avoid being audited.  We don’t want to do anything to get sideways with the IRS.  [17:35] Click here to schedule your appointment with Jason.    [18:24] There is no right, wrong, absolute answer in the financial and insurance industry. There is the individual answer.  [19:42] You NEED some insurance. If you owe someone or love someone you need insurance.  [20:10] The other part is how much do you want to deposit each year and have access to more money? [21:58] Jason shares some of the questions people need to be thinking about prior to scheduling a call.  [24:17] There are two types of insurance companies.  There are stock companies and mutual companies.  [25:09] It is sometimes called participating insurance because you participate in the company profit.   [27:13] Grab an appointment with Jason and figure this out.   [29:06] People need to be extremely strategic with their money and where they are going to put it given the new administration.  [29:20] The world is your oyster.  This makes everything possible.    Links and Resources: Ask Loral App: https://apple.co/3w3sXi7 Loral on Facebook: https://www.facebook.com/askloral/ Loral on YouTube: https://www.youtube.com/user/lorallive/videos Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/ Money Rules: https://integratedwealthsystems.com/money-rules/ Millionaire Maker Store: https://millionairemakerstore.com/ Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/ Integrated Wealth Systems: https://integratedwealthsystems.com/ Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates Schedule an Appointment with Jason: http://www.askloral.com/insurance

Today I am joined by Ken Starks.  Ken specializes in mortgages.  This episode is packed full of great information if you need a mortgage or will need a mortgage in the recent future.   In this episode, Ken shares everything you need to know to make sure your finances are in order to qualify for the mortgage you want and achieve your end goal.  He shares common pitfalls he sees and ways to prepare to qualify for a mortgage. He also shares how his team can help you meet your goals and his outlook on what the future holds.    Show Notes: [01:22] Rates are extraordinary right now. They are beyond all-time lows.  [02:49] If you are going to be financing any real estate you want to do that before you finish up your W-2 job.  [03:31] Properly filing your taxes so you can qualify for what you want is key.  [04:34] Right now equity is high and rates are very low.  [05:13] On a first mortgage the highest any mortgage product will go is 80% of your value on a cash-out loan.   [05:45] It is about money rules in terms of deciding what is right for you. Following those money rules is key.  [06:08] Ken is able to openly shop vendors for the best possible rates and fees for your scenarios.  [07:00] During COVID, guideline overlays became extremely common.  Minimum credit scores FHA and conventional loans have never changed.  Individual lenders have applied overlays on top of their minimums.  [08:44] Ken shares about his background. After 9-11, he got into the mortgage business. [10:31] Many things come up when you are trying to develop a mortgage strategy for whatever your end goal is.  [10:58] If you took forbearance, you need to be out of it when you are ready to take a loan. You want your forbearance to be invisible because that is considered delinquency.  [11:27] Fannie Mae allows for one full year of self-employment before they will do a loan. Depreciation is your friend as an entrepreneur.  [12:24] New credit and high balances can easily sway a credit report 40-50 points.  [14:29] You cannot have a loan in forbearance and close on a new mortgage.  It depends on what type of mortgage you are trying to do that depends on how long you have to wait until you can close it.  [16:01] This is no inventory.  Rates are amazingly low which is stoking demand.  [17:26] Demand is outpacing supply, even for new builders.  [18:29] The first step with Ken’s team is to talk through your goals and see what you are trying to accomplish, see where you are with credit, and figure out where you might be with income qualifying.  [20:14] It is hard to know what the future looks like.  There are many factors that can affect the future.  [22:14] Commercial investments are a little bit different now.  When people have very complex finances as an individual, once we understand those things it is very easy to layer into the commercial needs that they might have.  [23:03] Schedule your call to meet with Ken’s team.  [23:13] There are so many markets you can invest in. [24:04] Say yes and figure it out.  Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up Schedule an Appointment with Ken

Welcome to the weekly market awareness broadcast with Loral and the Integrated Wealth Systems team. Mike Alden is joining Loral to discuss his path from the projects to law to making investments that have earned him immense wealth.  He’s sharing why his failures in business are what led to some of his biggest windfalls and how he’s used them to grow his portfolio. He’s also adamantly against succumbing to “if only” syndrome and what he views as true failure. Keep an ear out to learn about Mike and Loral’s next business ventures together and how it's your connections that lead to big money deals. Show Notes: [01:51] Welcome Mike Alden to the show and hear about his journey.  [03:48] His path toward law and his “big business” moment.  [07:00] He started his first business in the wreck of the 2008 economy, but he had connections.  [08:28] What he spent his first big bucks money on.  [10:11] His biggest expenditures have been making big investments in himself and taking huge monetary risks.  [12:17] Loral shares how she and Mike are going to be partnering in a new company.  [14:00] You need to steer clear of “if only” syndrome. Learn why! [16:25] Mike shares his favorite investment wins and why they worked.  [16:59] Plus one of his biggest mistakes in investing back into his business.  [19:57] Learn more about his fail-safe in his business and the new book idea Loral is mulling over. [20:53] One of the things Mike hates the most about his home investment.  [22:15] Mike shares some of the catastrophic events that have happened in his business.  [25:09] Mike shares his biggest brands that we can follow and pinpoint to him.  [27:29] Why your product is secondary to your messaging.  [28:37] Hear Mike’s tips and strategies for growing no matter where you’re at in the world or in business.  [30:46] Transcendental meditation has truly changed his life. [31:17] Connect with Mike. Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up The Power of Habit by Charles Duhigg Mike’s Website Mike on Instagram

This episode is the last part of our five-part series on luck versus intention. To wrap up luck versus intention we will be presenting some material about entrepreneurial leadership with Martha Hanlon. This is great capstone content to our luck versus intention series and showcases the level of education and content available to big table members.   In this episode, Martha shares all about entrepreneurial leadership.  Martha shares a strategy for looking at the hours you work in your business and where you are spending your time.  Then she shares three key questions for building the entrepreneurial leadership you need to move your business forward.  Show Notes: [01:17] To wrap up luck versus intention we are going to be presenting about entrepreneurial leadership.    [03:06] Loral and Martha share about past big tables and alumni meetings.  [05:24] The piece that you must bring to your business is leadership.  [07:12] We have a tendency to not spend very much time in our business leading.   [08:32] How many hours on average, do you work in your business? Then divide those hours into each section of the pie.  [09:27] Often we don’t have a lot of time in strategy and planning.  If you don’t have time in strategy and planning you don’t know where you are going, the path to take you there, or how to lead your team.   [10:43] If you don’t bring someone else to do some of the fulfillment your business is only going to grow so far.  The only way to grow is to add more hours to your day or increase your prices.   [11:22] When you lead people well they will be able to do the work, maybe even better than you.  [12:14] In order to elevate your value to your business, you are going to have to drop some sandbags.  You can not elevate if you are being weighed down.   [13:09] You have one responsibility as a leader.  You are responsible for those around you to rise up.  [14:14] That rising up starts with yourself, and then moves to your team and then moves to your customers and then to your legacy.  [15:06] If you are a creator your focus is the passion you have and your role is going to create it.  [15:58] Technician’s value is the time and effort they put into the business. Their role is to control the business.   [17:23] As a leader, your focus is thinking, vision, and building trust.  You can not outsource things to anyone.  Your number one responsibility is to inspire.  [18:33] Leadership has stages.  [20:20] Vision, building trust, and putting a plan together is your responsibility.   [21:17] The stuff that is below your value needs to come off your plate.  [22:38] First, trust in yourself and then work for your team to trust you and you to trust your team.   [24:30] Whoever you bring into your wealth plan needs direction. [25:06] What if your only job is to be responsible for rising up for this year? What are the only things that would be on your plate? What is required for your team to rise up? [25:33] Your results will manifest when you lead yourself, your team, your clients, and your legacy.  This is your role.   [25:47] Make sure you are always measuring those results, so you know you are on your way to your goal.  Then you know where to go to make improvements.   [27:14] Action to take: Do you pie chart and answer the questions we discussed.   [28:39] You can be working on your 2021 goals with intention.   Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up Luck or Intention Contest Martha’s Website

Welcome to the weekly market awareness broadcast.  We are continuing our luck versus intention series.  We are talking about getting you the financial results you are looking for.  In part four of the luck versus intention series, we are talking about future pacing.   In this episode, Loral shares all about future pacing.  Future pacing is planning to a detailed level that most people don’t sit down to do. Loral shares what exactly future pacing is, what you need to be doing, and how it will affect your business and life.  She talks about how to start with your goal in mind and reverse engineer to be successful and meet your goals.   Show Notes: [01:40] We are talking about luck and intention and how do you have both.   [02:13] If you don’t have a business plan you’re not going to get anywhere. [03:43] Thomas shares about the Luck or Intention social sharing contest. [06:02] We are in part four of a five-part podcast all about luck and intention.  [07:43] When you have intention, you are clear on your financial IQ, and you are clear on what you are going to create, future pacing is required.  [07:55] You are going to future pace your year.  [09:07] Future pacing does require a calendar.  [10:09] Go out 365 days and reverse engineer your success.  [12:43] Get to that core funnel and just keep repeating it.    [15:15] All of you need a calendar association to your production. What do you need to start doing based on your last month’s production? [17:21] In future pacing, your calendar is number one. Put in all the revenue-producing activities first.   [18:41] As the leader of your organization, future pacing is everything. [21:37] Get the leads in your funnel, pipeline them through your funnel, and get them to buy things through your funnel.   [23:21] You are leading the pace of all that is coming in the future.  It is a significant activity that most leaders don’t do very well.  [24:48] Does everyone on your team know what you are doing? [25:42] It starts with a calendar and every broken-down task that has to be on the calendar. [27:11] You’re going to time block your day.  What are all the things you need to do and how do all the things get the coverage? What is everything and how does it fit? [28:14] Future pacing is planning to a detailed level that most people don’t sit down to do. Overlay future pacing with Building, Leading, and Protecting. [30:05] Planning a month at a time is not enough.  Get out further.  Have your coaching planned and in your calendar.  [31:41] You need goals for the month, week, and day.  Notice the one thing that moves you forward every day.  What is the skill and habit you need to work on? You need to have knowledge of what you are grateful for.  [32:34] When you do your business plan you will start seeing strategies and tactics so your strategy is the big thing and then your tactics are everything it takes to get it done and the team it takes to get it done.   [34:01] Future pacing is a reverse engineering activity.  You set the goal and date and back into it with everything that needs to happen.   [35:40] All eight areas of your life should be getting into the calendar.   [37:29] This isn’t about filling up a busy schedule.  It’s fitting in the things you want.  [38:16] Projects are one thing and process is another.  When you’re future pacing you are designing a process.   [39:47] It is okay to park things, say no to things, and restructure things.   [40:46] Get involved in the Luck or Intention social sharing contest. [41:48] Leadership is never done.  It is a constant work in progress.   [43:34] Check out the Millionaire Maker Meet-Up and Marketplace.   Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up Luck or Intention Contest Building, Leading, and Protecting Your Business Millionaire Maker Think and Grow Rich Power Vs. Force

Welcome to the weekly market awareness broadcast.  We are continuing our theme of luck versus intention.  Being successful is an intention on your behalf about not just the luck of the draw. In part three of the luck versus intention series, we are talking about self-management.   In this episode, Loral shares all about self-management.  She shares how self-management can affect your life and business.  She also shares techniques to self-manage your life and be successful.   Show Notes: [01:04] Being successful is an intention on your behalf about not just the luck of the draw. What is your intent toward money in 2021? [04:01] Thomas shares about the Luck or Intention contest.  [05:23] If your intent is to be an entrepreneur and have additional streams of income and have the ability to reduce your taxes, you have to get incorporated.   [06:21] You need to be pre-selling on a daily basis so money is coming into your account regularly.   [08:41] Most people live their life with luck. People choose unhappiness over uncertainty.  [09:33] Self-management is your ability to compartmentalize.  Put your life into compartments.   [10:39] Decided is done.  You have an intention and it is what you are going to do.  [11:34] Whatever is going on emotionally or distracting you, you have to put things into boxes to put on the shelf and come back to.   [13:43] You can’t bottle things up and never deal with them.   [14:21] The first technique is to compartmentalize, put it up on a shelf, then go back to it and clear it out.     [16:02] Get in the moment and be super clear of what your intentions are.   Self-management is giving it your all at the moment.   [17:42] Self-management is about having enough team, systems, and structure that you stay on track.   [19:11] Think about how many interactions of indecision you allow and tolerate because you’re not self-managing your space, your state, and your environment.  [20:51] It is a priority if there is a direct correlation to a result in your checkbook, an investment, a deal, or your life moving forward.   [21:36] What is the highest best use of your time? [22:00] Self-management is a habit of success.  [23:14] Sequences your day will sequence your result.  Be your personal best! [25:01] When you live intentionally things will fall into place.   [26:03] Become that person that people can know, like, and trust in a category. Attract supportive people.  [29:56] Ultimate self-management is knowing how to set things for your day that you’re going to nail. [31:52] You are the only person that can determine what is significant and intentional to you. In all areas of your life, you want to have self-management.   [33:56] Who is your tight circle?  It should be your mastermind group or coach.  [35:40] The big table is a smorgasbord to help you in all areas of your life and business. [38:13] Get involved in the Luck or Intention social sharing contest. This is a contest based on intention.   [40:23] The best way to buy cryptocurrency is through your Roth.  [43:14] Bring a calendar next week!  Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up Expression of Your Power Yes Energy Luck or Intention Contest Millionaire Maker Wealth Journal

Welcome to the weekly market awareness broadcast with Loral and the Integrated Wealth Systems team. This is a continuation of our Luck vs Intention series and we are digging deeper into the meaning of intention. We are also sharing more about the difference between being casual and committed.  Your emotional and financial IQ feed into your current intentions. The goal of this series is to help you get your finances and intentions in shape so that you can reach the next level of financial intelligence. Here’s a question to consider as you listen through this episode. If you aren’t making money every day, how could you possibly reach the goals that you intend?  Show Notes: [01:21] Welcome Loral to this episode of Luck vs Intention and answer the question, what is your number one intention?  [04:24] Are you committed or casual and what does that mean?  [07:23] When we talk about intention we’re going back to the good old great. Learn more. [09:25] We are intentionally not taught about money in our school systems. Loral talks about entrepreneurship and how she teaches on it. [10:42] Are you doing what you say you’re going to do every day?  [13:29] How your financial and emotional IQ impacts your intention and outcomes.  [16:04] Go through your day, hour by hour, and evaluate how you are driving yourself to your intention. [18:47] Learn more about the eight areas of your life and how you can get them in shape. Focus on the most in need area first. [22:42] How do you get intentional about making money every day?  [24:48] What are you committed to doing every day to start reaching those higher levels? Practice repetition. [26:37] One of the questions from the audience, where do you find 21 people a day when you’re just starting?  [29:42] Learn some additional ways you can start digging deeper into your intention. [32:01] Faith, confidence, certainty and dreams. Are you confident in what you deliver?  [34:18] What are your gifts and talents? Stay in your wheelhouse and you’ll find more success.  [36:48] The homework you need to do to really dig into your intention. No matter when you hear this, the topic is still pertinent. Roll up your sleeves and get to work. Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up Emotional Intelligence by Daniel Goleman Yes! Energy by Loral Langemeier Think and Grow Rich by Napoleon Hill 

Welcome to the weekly market awareness broadcast.  We are kicking off our theme for March: Luck or Intention.  Many people talk about luck during the month of March, but we are going to tell you that you don’t want to be lucky, you want to be strategic and have a life full of intent.  In this episode, Loral shares the difference between luck and intention  She also shares how you become intentional in your business to get the results you are looking for.  Your first intention is to start making money. Then she wraps up the episode answering your questions.    Show Notes: [01:29] What are your intentions for 2021? Commitments and intentions are very similar. We want to make sure you are very intentional and committed to your behaviors every day.   [02:53] If you are not getting a different result, there is something in your system that is not working.   [03:56] It is not luck whether you are making money or not, it is intention.  [04:35] Once you start making the money, you have other intentions like reducing the taxes, getting a double-digit return, and learning to do a six-figure summit. [05:19] So many people are letting inherent behaviors take over and are not really committed to getting a result. If you are committed to getting a result you do what it takes.  [07:11] Luck has no data, intention has data.    [08:00] Get very clear, what is going to get you results? This month is intention month. Let’s eliminate luck altogether.  [10:59] All this is great information until you do something about it. [11:57] Loral shares about the Luck or Intention contest.  [13:34] In the Luck or Intention contest, the winner is the person with the most points.   [16:09] Anyone can win the contest, but you have to have the most points.   [17:48] Show me your checkbook and calendar and that will show me what is important and intentional to you.   [18:55] Surround yourself with a team with different skill sets and get intentional.  [19:25] It is back to the gap analysis.  There has to be the right tension in a gap before you get motivated.   [20:35] When the tension is right, it will drive motivation.   [22:02] We need to spend this month getting clear and breaking any patterns.     [23:45] You have to live out loud about what you’re doing and let yourself be held accountable for what you are going to commit.   [26:44] Don’t live your life by luck or chance.  Design it!  [28:01] The formula is not to replace your current job’s income to be able to leave.  You want to look at your take-home cash.  If you could make half of your take-home cash and start working for yourself, you’ll actually soar past your full income.   [30:10] Create content in a way that somebody wants to buy it.  The fastest way is bootstrapping.  Come up with an offer, make money, use that money to grow your company.  [32:39] You listen, collect the money, and then go create the thing they want and deliver it.  [33:20] Millionaires happen because you live with intention.    [33:45] Thomas shares about the affiliate and referral process.  [35:04] The number one thing that people get wrong during an ask-tell-ask is that they are not listening to what they want.   [37:59] We are going to make this a very active month with living with intention versus luck.  [40:21] There are tons of great podcast episodes coming up. Stay tuned! Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up Expression of Your Power Yes Energy Luck or Intention Contest Millionaire Maker Wealth Journal

Welcome to another weekly market awareness update with Loral and the Integrated Wealth Systems team.  We are so happy to have you here.  We have a very special theme of love and money this month.  We are excited to have Eileen Galbraith on the show today.   In this episode, Loral and Eileen answer submitted questions.  They discuss how to handle a divorce and the ways the team can help you navigate this situation.   They also discuss the importance of separating your accounts and credit even if you are married.  Eileen shares about her weekly money date night and how you can learn more about implementing this in your own life.   Show Notes: [01:43] You can’t leave your commitments behind.  Coaching is crucial.   [03:14] You need to make sure everything is in place starting from the beginning of the year.   [05:01] No matter what catastrophic story you have there is quality coaching available to help you make sense of that and move you forward on your path to financial freedom. [07:01] Loral shares a funny story about her cancel party.   [08:55] Loral and Eileen answer Rico’s submitted question.  [10:34] Plan your divorce while you are still married because when it gets to that point it is not going to be a good conversation.   [11:21] You need to become very sufficient or have the proper assets to cover if the person earning most of the money leaves the relationship or dies then you are set.   [12:21] Anytime people get separated or divorced one of the first things you want to do is make sure your checking accounts are stopped.  Make sure the credit is not commingled anymore.  [14:37] Have separate credit card accounts.  Each person has an individual account and then has a joint household account that each person pays towards.  [15:19] Love and money don’t go together at all. [16:06] Everyone should have a prenup regardless of their status now.   [16:51] The one thing that is more important than money and love is love and values. It is important to have the same value set.    [18:16] You need to have the conversation and commit to your values and share that with your partner.  [20:34] The most important thing any couple can do is have a conversation around the money.  Things will improve when you're both on the same page.  Having a conversation is crucial.  [22:40] Get extremely motivated to produce for your family.  As a single parent, you can add a side hustle or build your business.   [22:59] Surround yourself with people that will lift you up and help you move forward.   [24:37] Find a community to be a part of.    [27:26] Eileen shares about her weekly money date night.  They talk about the money and then they have a date.  [29:03] It is all about the conversation with money.  You want to listen to each other and make sure everyone feels heard in the conversation.  [30:49] When you have a contract, you are committing to each other.  What you don’t agree with, you have a conversation about that. Make sure you have the contract near you.  [32:41] Our team can coach you through your divorce.   [34:36] In a divorce if you are a joint owner of a vehicle both are still responsible for the payments.   [35:41] Get the contract and get your money stories submitted.  Start thinking about having the money partner with your significant other.    [37:05] With money date nights, you are having conversations about the money, you are agreeing, you have money rules and a contract in place, and your intimacy and relationship thrive.  [37:54] Eileen shares all about the Intimate Money Rendezvous.  [38:48] You can have your money date weekly, biweekly, or monthly.   [41:02] Your conversations about money will change over time.    [42:37] Loral shares all the current marketplace deals.   [44:28] Submit your love and money story and join Loral on Clubhouse. [48:01] Email Mollie if you would like an invite to join Loral on Clubhouse.  Clubhouse is an Apple only product right now.   Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up Love & Money Giveaway Intimate Money Rendezvous