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Saving with Steve, December 26, 2023

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Saving with Steve
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With Guest Dutch Mendenhall, on Surviving and Thriving

Saving with Steve with Steve Sexton

With Guest Dutch Mendenhall

Episode 161: Surviving & Thriving in Difficult Times

Saving with Steve

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The Save With Steve Show, hosted by Steve Sexton will help you with ins and outs of money. We talk about financial issues that that could be costing you thousands of dollars and keeping you up at night.

We talk about “money”… tax reduction, saving more, how to spending less and get more, 401k’s, risk management, retirement, and everything under the sun that relates to you having a healthier happier relationship with money.

Weekly Show
Schedule Station
BBS Station 1
Schedule Broadcast Day
6:00 pm CT
6:55 pm CT
Show Transcript (automatic text 90% accurate)

everyone has their own unique views and needs when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place welcome to the saving with Steve show hosted by Steve Sexton the show will help you with the ins and outs of money we talked about financial issues that could be costing you thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton<br>hello welcome to the saving with Steve show where we talked about the ins-and-outs of money pretty much everything on the center lights to you having a beer healthy relationship with money want to thank you for joining us a more importantly we're almost at the millions listener Mart and I just want to thank you all for sharing this with your friends or family or so she has it just makes a big situation I want to thank everybody who listen to its overseas we appreciate you the one that said we're definitely talking about money today I love this intro about. So I'm just going to just read it right out in a world word economic Windsor's Swift and unpredictable the real estate market stands that challenging it promising Arena easiest to Natchez navigate to thrive in this this financial storm with a focus on understanding the market building solid online connections leveraging modern tech such strategies are about crafting<br> Michigan real estate your respective economic hurdles that one thing is very very important irrespective of economic hurdles there so many people out there who think that Countryside good<br> I can't do well with this but the reality is amongst the chaos there is opportunity. I want to welcome you to the show preciate your being here at love the background behind you it's pretty cold says Rad take a look at it for those for companies right there we've amassed you do 250 million in assets you know and I would say the fastest acceleration of that has happened in the last three years I would say that for me<br> I don't think embassy's number in every respective of what's happening in the markets I think you've done just in the system behind what's happening and you have to move you know before the markets move and if you understand what's happening behind the system you know how to move you know where to invest you know the type of Investments to making you know where a country that controlled by you know for you know I always say there's four pillars that control the American economy and weigh-in people don't other people to really talk about it but you know it's for companies in a certain extent you have black rock State Street Vanguard in in in Boston if you pay attention to what those poor doing you know a lot of what's happening and you can move before the market happens and what happens if they'll build the system and it's a financial system that goes like this right goes up and down and what happens then we're in a recession we're in the down well everybody knows there's not a person that studies economic some real estate and investing that doesn't say that's the time to buy but 87% of America doesn't buy<br> during that period of time in there when times are going up you know everybody knows when you getting close to the top don't buy but then that's when everybody bought and so Americans are indoctrinated and then the following the system instead of being ahead of the system that is in front of a minute it's painful for a lot of people because there's the emotional pain with money there's the lack of Unknowing when it comes to money and then there's Steve the painter past mistakes right people made mistakes in the gun challenges with money Jack was was Simply Built to give people checklist like should I invest now I should I not invest now it's just a company to invest and not a company to invest in real estate such an important part of every wealthy person in the world's portfolio right why does every billionaire that ever existed used that but every Financial Guru tells you not to have any day right as soon as you know interesting conversations that we're constantly in the middle of but having built it like just like you write Steve you built it from scratch right and and you built built<br> and any bit while for others right and so it's like you and I both know that there's a process behind this but how do we begin breaking that code for other people and that's truly my deep passion is figuring out how to break that code a thing for my own childhood of pain my own childhood living on my own at 16 years old and stuff is I just got passionate about that and kept growing and kept growing and kept growing first of all<br> I actually totally agree with what you're saying because a lot of people don't realize this right now is even though we saw this little uptick in the market you still have some like Warren Buffett who's liquidate almost 167 billion dollars he's got that in cash and what do you think he's doing he he he's he's waiting for what he's waiting for some turmoil so we can go to pour that money when the markets down cuz he knows what's going on and yet others are still investing in moving forward and they're they're not they're not seen it because they're not paying attention before the commercial crash and he's waiting for the commercial bubble to talk to a certain extent him and he invested hundreds of millions of dollars into the Housing Development right you don't even ask that you don't half a billion dollars into gold mine I'm in the gold right and so you know he's preparing for you know those are signs that he's preparing for some some scary things right you know he's trying to invest in you know a real hard case commodity right he's in<br> acid into the Housing Industry and so it's like where is he headed but I think a lot of them have been waiting for the basically the signs we got today which is the first articles I've seen about the fed you know committing to lowering rates six times next year and then so did you know that I saw that newsjacking today came across my desk I'd have to go in and find the article for you with my is first time I'd seen something about that it's been since we've been through this whole interest rate you know Journey so<br> let's start talking about how people can you do Thrive and let's talking about you know what some of the things that they do how can I use technology and you know, all that kind of good stuff<br> the thing about real estate is if you buy write the economy is going to going up and down but your real estate's going to continue to grow in value and so good investing is about making sure that your money is invested into an asset that's going to grow in value over time A lot of people do short-term action short-term thinking and short return thinking will get you burn right if you did short-term thinking with crypto maybe when maybe you lose the challenges that people if they buying a crypto with a long-term mindset and then and then they're always going to buy when times are down because they're going to recognize when times are down but if they're only doing short-term thinking lots of times they're not going to deny going to buy when it's down this hill with real estate there's so many effects in a positive way that it has on somebody you know we're going to the end of the year right now we're so we're going to have a lot of tax stuff come up we'll real estate one of the few vehicles in the world where we have depreciation we have tax write-offs we have things that can reduce our our taxes the person right but if you're selling a business you're selling and asked<br> you're selling you know what stock right before the piece of real estate there's tax-deferred vehicles that can make a huge difference into your well and so if you look at it like a o c van so we have a r a Dosey fun you look at a 1031 exchange you looking at a 7/21 vehicle where you make a stock exchange for for control of like a real estate asset right that's what is a lot of different things out there that people can do to eliminate some of their tax word and here's the thing is I know it for as much money as you want to make from your investing saving 10% savings 20% on your taxes instead of having to pay as much money to tell Uncle Sam I believe in paying taxes cuz I believe in our country I believe in America but it's same time I think every American should pay the amount of taxes they're supposed to Which is less than what every American pace and so the reality is is if they use those taxes for vehicles if they use real estate that 10 20% that now they could put back into investing compounded over<br> 2 years five years ten years 20 or 30 years of dollars but if they if they don't then they never have that money compounding and working for him so you don't mind my friend believe it you know in real estate if you're taking a simple math formula behind it if you can buy a good piece of real estate you can turn that into a second piece of real estate a third piece of real estate and I have two three four assets that are depreciating people don't know what the preciate you in is maybe you can Define that for Steve but essentially you know it's your ability to pay less in taxes right depreciation is you you're working against your asset right it's giving you tax write-offs it's giving you a expenses right against you or against your income which reduces your amount of taxes and every asset you add that has depreciation is a part of it reduces your total total tax for a professional you might be able to find that even better than I do but thing I've learned about building walls as I made a lot of money before I was thirty years old and at 30 years old I realized I hadn't really Built Well<br> and then I realize wealth becomes from the accumulation of acids that produce income yep that's right for those who were wondering what depreciation is the IRS looks at every piece of business equipment as an asset you purchase and then it has a life and what they do in when it comes to real estate if it's a rental property it's 27 and a half your life so each year you take 127th and a half and you're able to depreciate that you can do that with a furnitures in there you could do that with it the trees the holeshot what are the values you're able to do that and you can keep taking that off every single year and a lot of people have utilized at depreciation to significantly reduce their taxes especially if they're receiving incoming many cases the income of somebody receives say they're receiving $5,000 a month a lot of times if they're depreciating it and they also have a few other expenses<br> they're in a situation where they might be only paying taxes I may be 20% of that income which is very significant with you as opposed to receiving an interest income from an ambassador or say your $5,000 a month that's $60,000 a year in taxes and if you're only have to pay tax on take 20% of that that's pretty big so that's what depreciation that's how it's used for folks but I want to come back and talk to one of the things that that Dutch does hear any talks about did a reverse digital networking how do you harness the power of online networking Joe open up doors and real estate how to get opportunities with that we're big and crowdfunding raising Capital One of the larger than Americans who was in the book their specific clot form when people can go on and it in raise Capital Region average American can go on and raise the money through crowdfunding platforms with with little effort write in order to go buy a piece of real estate right so leveraging those digital<br> can make a huge difference Snow will also use digital platforms to help us you'll collect data collect information find the deals fine pieces of real estate right and so you and you information is powerful and answer your ability to utilize information to be able to make smart decisions it is critical so like any of our money shackles checklist will sit here and show you like there's a lot of information about companies and businesses but what information do you listen to what information do you not listen to like once you have the the foundation of making a good business investment right where the reggae a r a d here or private Equity type of investment or it's a a crowdfunding type of investment you know you need to have a due diligence checklist to be able to make those decisions and what happens to people when they have a healthy relationship with money you're going to make good decisions about your investing but if you don't have a healthy relationship with money if you haven't rebounds and you haven't matured and gone through Evolution and your relationship with money you're not going to be make great decisions you know my big thing is getting<br> way from Wall Street in a Wall Street Chris people and almost like a codependent relationship where you wanted build your walls you want me to set up your retirement and it goes up for a while but then it crashes or it goes down and it burns you and some people get into this thing and the average person isn't built for the long run it's right right right white 50 + 60% of a marriage has an American failed because people you know I struggle with the ABS and flows right and so the reality is is the stock market even worse than a statistic you know 80 + $0.04 of Americans have lost money in the stock market in the last 12 months as a part of that 80% of Americans that has lost money is like what is the right thing to do will if you get into real tangible assets that grow over time I'm good business investing right fractionalized ownership of businesses through regulation a industry to the crowdfunding industry High sets people up in a way they can be an angel investor they can be a venture capitalist they can go in and put a hundred bucks a thousand bucks $10,000<br> $50,000 into owning part of a business vs. going in to Wall Street and buying a stock and so you know whether it's that part of of alternative investing or it's the other part of real estate investing you know those are those are long-term investing Trends and I'm not talking long-term like you got to wait 30 50 100 years in order to make a significant return but I'm talking more of a two-year five-year tenure cycle is is his smart card investing<br> more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show we're going to be talking about the ins-and-outs of money does Financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune into the saving with Steve show join me Steve sex and out of saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with<br> Steve. Us that saving was Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton<br> hey I want to thank you for joining us here on saving with see where we talked about the ins-and-outs of money I just want to make sure y'all know all the replays are available at w.w. Saving with Steve. Us if you're enjoying the stories of helpful information inside on saving with the encourage you to subscribe to your YouTube channel so you never miss a show and check out a few of our affiliate that UK Health radio previous radio talk radio in New York City e360 TV and Las Vegas TV networks are dedicated to empowering you to solve problems uplift your spirit and live a life of personal financial Freedom so we're back here with Dustin Boone home earlier he talked about how somebody works. How the people can crowd fun so they can go buy a piece of real estate. Could you share a little bit more about how about works because we have a number of people that are on our our our listeners interview or email saying hey how does this work I would love to know how that go<br> about working so if you could share that with this every wonderful Pacific crowdfunding platforms on America and in so you can Google and go research and I put in my book the top 10 platforms right we believe in that people can go grab money shackles and they can go through that we have Cliff money shackles to so you guys can eat a skip to those points but essentially you go to you going to find a lawyer that specializes in crowdfunding the lawyer that's why she was like in crowdfunding it will take you through your entity structuring you business structuring to make sure you set up correctly not super expensive somebody's going to charge you ten $20,000 for it walk away from him right for about two to three thousand dollars should be able to get completely set up and an instructor now once you're set up with your college fund and you go on one of those platforms and you just need a good piece of real estate right I'm to go on that platform and then you peace that puts a piece of real estate on there now everybody who's Crown funding it becomes a co-owner with you right and you guys get to can own that<br> piece of real estate together and that's one of the ways you can succeed and eat you can move forward right now for me I've only use crowdfunding for building businesses and growing businesses or within our reach we've had a lot of people in vest together to buy lots of real estate right and so you know whether any time you have multiple people investing into an investment you got to put a an entity structure together from a legal standpoint not lawyers I'm not giving you guys legally buy some kind of tell you my experience with crowdfunding is so what I first started you know I did all this Education and Training Across America but the reality is that people always like my girls are full of crap they like you guys teachers and you tell us about it but you'll never invest with us and different things and I ate all eventually I said okay well that all the best with you and people kept saying yeah put your money where your mouth is and so I started investing with people and started just small just like any other you know potential investor right I went from you do one investor to 22 investors now to 7000 in<br> who invested with us you know over the over the years and then that are active right now invested with us and so you know reality is is it's one of the great ways to build businesses like all businesses in America need Capital they need money you can grow a business without money without Capital you can't buy real estate without money without Capital but any real estate investor that ever existed will tell you that they run out of money fast right you know where were you a 250 million dollar portfolio but every single month I want new money New Capital going to go do New Deals new transaction to continue buying real estate right and some days we sell a piece of real estate will use that money to go buy more real estate but the reality is is like like we invest long term for every asset that we have until for us it's always about how do we continue to buy more real estate because the more real estate we have the more depreciation we have the more real estate we have the more cash flow we have you so using crowdfunding is is really good Kevin O'Leary right has it has a platform I want to say start agent I think it's the name of it one of the Great<br> crowdfunding platforms that are out there so great way as an investor and I think anybody getting started like I don't have a lot of money or I don't feel like I have the credibility to go talk to someone about bring it you know investing Capital with me to go being a bastard and so then you know any platform is a great way to do it you do for us we've been investing other people's money with other people for a very long time and so I'm always you know tell people to be a little bit leery of putting a bunch of capital with someone without a lot of experience with a lot a lot of background putting crowdfunding people are putting $100 to putting $500 right into a platform into it like then I feel very comfortable investing that kind of money and it's someone else's piece of real estate who doesn't have a lot of experience today if something were to happen to that money Life Will Go On and but if you know if we pull together then we can help others start businesses grow business build businesses but as well as you know if you want to get a 10x return on your investment money<br> then sometimes there's a little bit more high-risk Investments with Manisha cuz we talked about high-risk, high-return Investments high-return low-risk Investments we talked about low-risk glow return it back to me and how you balance all your Investments out as an investor because that balance is key because then you don't feel guilty when you go take a high-risk because you the money for it because you know you have your safety and your conservative side of of your investing as well as many of our viewers are interested in is how to go about using the power of online networking to open up opportunities in real estate<br> yeah I mean there's all kinds of platforms right deal deal flow is deal flow and so you relationships can always bring bring deal flow right and so for me like recently one of the things we did from a networking standpoint is as I was able to buy a golf course and so I was able to buy a golf course with 1.52 million-dollar SBA 3.5% interest rate in these interest rate times that's amazing $200,000 down so a total of 1.72 million dollars that deal came from that working right we have a charity that we've been supporting and and and called 22 and again and Special Operations wounded were so we have a big believe if you don't like our country or our veterans or our Warriors and don't invest with us right and it's a common thing that we stay like we are very proud and so so we invest a lot and do those Charities and so through that that Network in it to the online relationships there that Golf Course came to us through that Network and somebody<br> hey I'm struggling with this piece of real estate I'm struggling with this business why not sure exactly what to do with it until we're able to provide them with a solution and then obviously Pride a great investment for our investors when the golf course right down the road so far for 4.5 million dollars in about the similar condition to buy in a 17 in the closest comparables 4.5 those are always the man who can't win in this situation so and put it on a golf course for only $200,000 down so I don't see any in Merrillville you behind you but I do see baseball and I see Pepperdine football actually coached baseball at University of San Francisco so we played Pepperdine in a lot many years ago so that was actually one of my clients was on their 1945 national championship football team and that was one of the house they gave him in before he passed he gave that to me so it's pretty full and University of San Francisco both had national championships in football<br> you know obviously neither one compete at that level you know at this point so well that was actually there last year football 1940 for being on her show this is just been wonderful how can people get in contact with your network get ahold of your book if you could share that with our listeners I really appreciated night I know they would too yeah I mean you can go to Manisha and if you want to buy the book If you want to get to know me get to know our tribe and family in those kind of things you can go to Dutch right we have all of our different assets Oliver different investment vehicles money shackles will be on there too but go to Manisha you jump on our YouTube channel right like we always say you know we have him if he follows that allows us to make an impact on your life free so I obviously you guys going to Steve said that right off the beginning right make sure you jump on you know his channels and you follow them and you follow their podcast<br> it makes a difference and then the thing is is once people like Steve were out there getting high quality information you know following them makes a difference cuz it allows them to give more of that high quality information so if you go to duchman makes a big big big impact on being able to explore our universe and all the different Vehicles we have if you just want to pick up the book when it's on the Amazon it's on Audible we hit the Wall Street journal's best sellers list this summer where are currently I think number three on financial books on Amazon so you could go there and buy it on Amazon go to to buy it directly to you don't have to wait as long to ship we were a little faster than that you would think I couldn't be faster than Amazon in shipping my own book right but we actually are faster close my blinds so that's thanks for being on the show star full weekend and a happy holiday season and love to have you on again sometime we'll talk soon<br>more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the in an ounce of money those financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton<br> play welcome back to the saving with Steve so where you talk about the ins-and-outs of money today working to be talking about the next piece that goes along with taxes that's Roth conversions as yours coming to the end or just at the beginning most of your you have a pretty good idea where you fall when it comes to your an anchor brackets Roth conversions will allow you to accelerate the income will potentially lower tax brackets into the career Roth conversions by ear and can strategically help you manage your tax brackets by reducing the requirement and distributions in the future but creating more tax-free income there's a couple things you want to keep in mind you're number one there's a five-year rule if you need the money that's coming from your IRA<br> for income probably not a good idea because the five-year will state that if you convert $100,000 into a raw any of the proceeds from the $100,000 for the first five years of taxable after that it's non-taxable secondly you need to look at your arm up so if you're getting Social Security pay for Medicare you know what the cost of your Medicare increase<br> if you go over certain limit also you want to make sure it doesn't adversely impact the need for income down the road when you're 82 83 and 45 and the reason I say that is because you're the one if you're paying 30% taxes<br> on your conversion and you're averaging a say a 5% return it's him taking them 67 years to get back to where you were when you did the conversion I was at going to impact you when you're 82 83 84 folks there's many reasons why did you arrive conversion I just want to tell you the ones that you need to be concerned about to make sure you don't make a decision now that's going to adversely impact your lifestyle down the road and always you should always be running by these decisions with your CPA or financial advisors tax advisors any devices that you have you want to do that cuz you want to make sure you're making the right decision the other thing I want to say about taxes is you always wanted before thinking too many people are backwards thinking you're looking backwards you never going to get a lot of benefits do with that I want to thank you all for joining us here today I'm saving with seaweed does Mendenhall money shackles you want to go check that out that's been in hell.<br> and with that have a wonderful weekend look forward to seeing you next time right here on saving whiskey see you then bye bye<br> thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that's saving with Steve. Us join us again next time as we continue to talk about everything under the sun that relates to you having a healthier happier relationship with money this has been saving with Steve show hosted by Steve Sexton<br>

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