Be Wealthy & Smart

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**Be Wealthy & Smart**

Money, personal finance and financial freedom – get your money to work harder for you so you don’t have to work so hard. Linda made $2 million at age 39 and shares actionable knowledge to create wealth in the stock market, real estate, and business. Discover a wealth mentor who shows you a direct path to security, stability and financial freedom. This podcast has a balanced view of how to enjoy life, it is not about frugality. It won’t show you how to save a few dollars, it will show you how to save tens of thousands of dollars. Short episodes get to the point without fluff and give you valuable advice you can put to work immediately. Learn the 6 Steps to Wealth by starting with creating a wealthy mindset. Listen to one podcast and you may find yourself binge-listening to the entire library of knowledge. Be sure to subscribe so you don’t miss an episode.

Latest Episodes:

158: Listener Question - Real Estate Re-Fi Jul 22, 2016

Show notes

Learn why a 30 year mortgage can be better than a 15 year mortgage when investing in real estate.

Here is our listener question this week:

Hi Linda,

You talk about using leverage to purchase rental properties as well as making an extra payment each year to pay down the mortgage quicker. I have a rental property that currently has a 15 yr note at 4% and we are paying approximately $360 per month out of pocket to cover the mortgage (incl. taxes, insurance, and PMI). We refinanced about 4 years ago into the 15yr in order to reduce our interest rate and pay down the principle faster since we were underwater at the time. Now we are back in the black and were considering refinancing into a 30yr mortgage (which would also be at 4%) in order to increase our cash flow and invest the savings each month either in the market or save it toward a down payment on another property. Our payment would go from $1260 to $760. I wanted to hear your thoughts on this plan. We currently receive $900 per month in rent, which is slightly above market value, so I would not expect rent to go up for a few years.

Thanks so much. Love the show.

I love this question!

This is why I don't like 15 year mortgages!

1). All debt is not bad

2). Debt will enhance your return. Example: $100,000 cash vs. 10% down

3). A 30 mortgage will shift your cash from from negative to positive cash flow

4). You can still pay off your 30 year mortgage early by making extra principal payments.

5). You control the payoff, not the bank.

6). Pay extra to get rid of PMI payment. Need to get to 20% equity. Can pre-pay, get a new appraisal, refi, or remodel.

7). $1260 current payment - $760 new payment = $500 per month less, which would cover the $360 negative cash flow. Why not?

Then: $900 rent - $760 payment = $140 positive cash flow All this talk that debt is evil is bunk! Debt is your friend in real estate. It's called leverage and helps you get higher compounding rates.

157: Cycles in Bonds and Silver Jul 20, 2016

Show notes

Learn what asset is near the top of its cycle and which asset is near the bottom of its cycle.

What asset is in a bubble?

Bonds - IOU's that pay the investor interest.

Interest rates move in 30 year cycles. Near the low in interest rates. It's a process.

In Europe, some countries have negative interest rates (NIRP - Negative Interest Rate Policy). Investors pay to own sovereign bonds. Fear of losing money or default and want a guarantee.

What asset is near the bottom?

Silver.

You can see cycles in the chart. Go to my website to see it: www.lindapjones.com/silver

Chart shows cycles and the MACD.

Shows the moving averages or calculations that show the trends and help you see the direction of movement and when it is turning into the opposite direction.

Also can see it is peaking here, short term.

Waves of energy flow through everything, even investments. You can see the cycles of the energy waves in this financial chart of the price of silver, which is our #1 holding and the #1 performing investment year-to-date, up 42%! Turning into the down part of the cycle now before it moves higher.

We have a clear indication silver is about to move lower. It's normal to have regular corrections in the price before it moves higher. Don't be scared when silver moves lower, it's expected right now. There's a lot more on the upside for silver long-term, so I'm not getting caught up with short-term trading because the greater risk is that you could be out of it and miss it when it finally blasts upward. So hang in there. Don't be a buyer here, that time will come again in the next month.

If you want to know what to buy and what NOT to buy to take advantage of silver, that's what the BWS VIP Experience is for. Go to www.lindapjones.com/joinvip

156: Air BnB, Masterminds & Mindset Jul 18, 2016

Show notes

I went to San Diego a couple of days early and stayed in an Air Bnb for the first time.

Moved to a suite at the Westin on Broadway for the mastermind meeting.

What is Masterminding? Is it another form of brainstorming?

Yes, it's similar. It comes from a term used in the book, Think and Grow Rich. It's when everyone brainstorms and focuses on ideas for one business at a time. It's incredibly powerful and kind of like a mini-focus group research project.

The "mastermind" is the group and the activity of spending an hour talking about plans for new services, products and implementation is extremely valuable.

For video of Angela Ahrendts, former CEO of Burberry, go to my fan page to watch. www.facebook.com/lindapjonesfanpage

My friend buys companies. The big issue is mindset. Afraid to fail.

Sarah Blakely, billionaire & CEO of Spanx read Wayne Dyer's book - How to Be a No Limit Person.

Her father taught her to embrace failure. How did you fail today?

Are you afraid of failure? Is it keeping you from even trying? Are you afraid to not be perfect?

155: Early Retirement, Part 2 Jul 15, 2016

Show notes

Learn how much money the average worker has saved in retirement, 3 steps to take if you're behind on saving enough, and why you need to prepare for early retirement even if you don't think you need to.

77% of workers have less than $250,000 saved for retirement.

The next largest group has less than $1,000 saved!

If you save 1% more of a $50,000 income, then:

4% for 30 years @7% grows to $217,370 5% for 30 years @7% grows to $271,000, a 25% increase!

3 things you can do:

Boost savings. Delay retirement. Cut spending.

Use catch up provisions to save more.

Traditional and Roth* IRA's allow for an extra $1,000 catch up or $6,500 contribution instead of $5,500 when you're over age 50.

Pay attention to modified AGI limit:

Single $117,000 - $132,000 Married $ 184,000 - $194,000

Roth contributions are phased out at these levels.

SEP IRA

$53,000 maximum on $265,000 considered compensation (25% of compensation)

401(k) and Solo (k)

Standard contribution is $18,0000, catch up is $24,000 (over age 50)

Simple IRA Employers match up to 3%

Standard contribution is $12,500, catch up is $15,500 (over age 50).

Boost Social Security 8% annually for each year you put it off.

Only take 4% out of your retirement plan and you likely won't outlive your income.

Retirement income + Pension + Social Security + Side Hustle = Retirement Income

Can you downsize your home and use equity for retirement?

Save more on the front end and save more for retirement as soon as possible.

Start saving in your 20's if possible. The sooner the better!

154: Early Retirement, Part 1 Jul 13, 2016

Show notes

Learn reasons Americans don't retire when they want to, how many retire unexpectedly, and how confident they are or aren't about affording a comfortable retirement.

About 45% of Americans are retiring earlier than they expected and also 45% are retiring about when they planned.

5% are retiring later than expected.

Why people retire earlier than planned:

1. Hardship 60% 2. Able to afford it 35% 3. People desire to do something else 25% 4. Company changed, downsized or closed 5. Other work related reasons 6. Care for a family member 7. Change in required skills

153: Basics of Real Estate Transactions with Jules Haas Jul 12, 2016

Show notes

Learn about buying your first home, what to look at, and things to avoid so you have a smooth transaction.

It starts with having a financial/economic plan for buying a home and do lots of due diligence before buying a home. Get a thorough inspection.

Jules also covers documents, title insurance, closing costs, etc.

Jules can be reached at his website (along with more information about real estate transactions at www.JulesHaasAttorney.com. His phone number is 212-355-2575 and email is Jules.Haas@verizon.net.

152: Should I Hold Silver in an IRA? Jul 08, 2016

Show notes

Listener question Friday -

Linda, I used to have a self-directed IRA but closed it. Now I'm planning on opening one up again to invest in things, including precious metals. It's saying XX Bullion prefers XX Depository, but will ship your metals to any depository you choose. If it has to go into a depository, what depository would you recommend?

151: Below Deck Mediterranean Recap Jul 06, 2016

Show notes

Learn all about our trip to Naxos, Greece aboard a 110 ft. yacht which was televised this week and last on the Bravo TV show, Below Deck Mediterranean.

Note: This podcast has NO financial information in it and is just about our trip!

We appeared in "Episode 9: Fever pitch" on June 28th.

Hear me discuss the crew, eating Ben's cooking, wave runners, the tender to the beach, how Bobby carries us, Ben cooks s'mores.

How were the s'mores with strawberry peeps? Ben couldn't source the ingredients in Greece.

We appeared on "Episode 10: Charter from heaven, charter from hell?" on July 5th.

Next day breakfast, wave runners, jeweler, excursion on tender with Bryan and Tiffany, change for dinner, violinist, dinner (and unfortunate combination of motion sickness med and alcohol).

Could use some love on my FB fan page (www.Facebook.com/LindaPJonesFanPage) or Instagram page, @lindapjones.

Breakfast, give largest tip of the season and said good bye. Hannah says we are her favorites and she loves us! She misses us already when men acting like "frat boys" come on the yacht.

More photos and stories on my blog. www.lindapjones.com/blog

150: Career Reinvention & Entrepreneurship with Pamela Mitchell Jun 30, 2016

Show notes

Learn from reinvention expert Pamela Mitchell about how to find your passion, become an entrepreneur and find success.

Pamela was called "The Queen of Reinvention" by Fortune magazine. She's a former entertainment exec-turned-coach. Pamela Mitchell is founder and CEO of The Reinvention Institute and host of The LiftOff Project podcast.

As the nation's premier expert in reinvention, Pamela has appeared on CBS, CNN, NPR, MSNBC and the Today Show, and has been profiled and quoted in top publications including The New York Times, Businessweek, TIME, Men's Health, and Real Simple. She is the author of The 10 Laws of Career Reinvention: Essential Survival Skills for Any Economy, a Harvard Business Review Top Shelf Recommended Pick.

Links to the mini-course and Pamela's book can be found at www.lindapjones.com/careerreinvention.

149: Crazy Surprise! Jun 27, 2016

Show notes

149: Crazy Surprise!

Learn what's going on as I pull the curtain back and let you in on what's happening in my personal life.

If you've been listening to me for a while, you know I stick to business and get to the point pretty fast.

I want you to get value from my podcasts.

Today is a little different because I am letting you in on what's happening behind the scenes in my life.

The exciting news is on June 28th and July 5th, I'm going to be on a new reality TV show called Below Deck Mediterranean.

It's a new show, the first season of a spinoff. I've been a fan of the original show, Below Deck Caribbean, for years.

Below Deck Med is about the crew of a yacht in Greece called the Ionian Princess. They take on new charter guests and the show follows how the charter goes, the relationships the crew has and the drama that ensues.

This Tuesday I'll be on the show as a charter guest. I'm with 5 entrepreneur friends/clients and we had an amazing time.

I can't give details of what we did because I agreed to keep that confidential until after the shows air, but I can tell you I had an amazing time cruising in Greece!

You can see some initial photos of our trip to Greece on my Instagram before we got on the yacht. My Instagram is @LindaPJones and there's also a @BeWealthy&Smart Instagram - check it out while you're there.

It's an entirely new crew on the show except for Chef Ben Robinson who is also on Below Deck Caribbean.

Things are definitely crazy and racy as the crew of 12 thirty-somethings have their share of drama and hookups!

If you want to know more, you'll just have to watch on Tuesday, June 28th and July 5th on Bravo TV at 9pm ET/PT, 8 CT. Boy have I been shocked watching the show and seeing what happens with the crew below deck! I have to warn you, I didn't expect to see what's been going on at all! All was calm above deck!

Watch it and let me know what you think! I'll be back with some more bonus episodes this week. Hint hint.

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