Manage Your Money So You Make More with Rob Schulz

00:00 In this episode of the Team Superdad podcast, we talk managing your money and getting rich with finance guru dad and awesome bloke Rob Schulz. Roll theme! Welcome to Team Superdad. Real dads creating their best lives ever, more time more money more fun you are not alone! You're on Team Superdad Yes welcome to the team super dad podcast it's great to have you back as always however you found us whether you're watching whether you listening it's great to have you on board remember remember please share like comment do the business you know every dad

00:44 Every dad knows another dad, surely you do. Every mum knows a dad that is for certain whether it's your granddad your uncle yeah basically just share this with other men in your life so we can grow the Team SuperDad message and help as many dads as possible create the life they desire and get out of the life they feel stuck in today's episode is with Rob Schulz guy from America which is always nice who helps me feel connected to my American family Rob is an accountant, which isn't always the most exciting thing is it? But he's actually a bit of a finance guru. He's got an amazing book out and he's literally recognized as one of the top financial planners and advisors in the States which is a pretty big place as we all know this subject

01:35 You know, the subject of money is vital for me inside a Team Superdad. It is one of our five fitness focus finance family and fun and it comes in two areas you got to manage your money well...you know? The stresses around finances ruin relationships. They absolutely crucify them and it doesn't need to be that way, we're in this together we've got to be open transparent we gotta get organized where energy...where attention goes energy flows and your finances are no different so there's the first part of looking after them And we're talking about that with Rob today. As much as possible I'll try and get some practical advice from him and some steps we can take. Rob has agreed to come and do some workshops inside of the Hero Academy, which is our premium program for super dads around the world. We've already got Raymond Holt who talks finance in there with us. And as well as managing your money, we've got creating money. So whether that's

02:30 Share trading, we work closely with Jason Greystone and the Tears of Freedom crew around stocks and shares and investments. We've got property people of all shapes and sizes in there from Daniel Latto to Dick Dabner to... what's the guy? Daniel Hill! I always try calling him Damon Hill but he was a race driver you know these are all experts in the properties field And making money online, you know starting a business whether it's a Spotify not Spotify. A Shopify shop whether it's an affiliate business with the t-shirt business whether it's creating a course or program there are so many ways in which we can create second streams of income and we just have to both manage our money and grow our money and that's why finance is a core part of The Team Superdad foundations and one of our F5 core tenants

03:25 So, if you don't know about that then come over and join us. The free group is on teamsuperdad.com forward slash network that's pretty easy teamsuperdad.com forward slash network and then once you're inside there you'll find out all about the Power Code our 10-week program You'll find out about the Hero Academy which is our ongoing membership group And the F5 which runs throughout everything we do focus fitness finance family and fun The Boom Rob! Hey Jonnie. Good to see you, how are you doing? Doing really good thanks for having me on. It's my pleasure

04:42 And kudos to your team as well, they did a great job in managing that for you. So it's always nice to see a guy who has got his team kind of looking out for him We had a few technical issues I thought you were going to be on this morning and was like hang on a minute 1030? Yeah! In the middle of the night No we're in different time zones there is no doubt Sometimes Google or Whoever, whatever program you're using doesn't know how to handle all that stuff. Yeah well thankfully we got it sorted! We got it sorted and as I said in the introduction It's great to have you on tonight one of the five elements of The Team Superdad F5 is finances And such a vital part of everyday life let alone our future and everything um...and I know from my history

05:37 I don't, sitting here today. It's one of the wonderful things about doing a podcast and having all the coaches that I've got inside the Team Superdad community in Hero Program is that I get to learn as well you know? I've got all these dads in our community and some kind of leader for them but I'm on the same journey so it's brilliant for me to be able to have this conversation with with you tonight And hear from your experience. How long have we been talking? Like 20, as it said in your profile, 25 years of experience in financial planning. Yeah I've been doing it for a good long while and you know and it's been fun! You know my kids...I have four kids that we raised and they're all...I guess were empty nesters now because the youngest is a freshman in college so the nest

06:33 And do they like coming home? What kids have you got, how does it break down? Well, I like to call it two sets with the same wife because we got two older and two younger. We've been married for over 30 years and we have the 2 older that are 29-25 both girls

07:11 The 25 year old is pregnant, so we're going to have our first grand baby. And then I have a boy who's 20 and a girl who's 19. Having both, I've got a brother myself. I do have an older sister as well but um...I remember It hadn't really dawned on me what having a daughter was gonna be like and I pulled up at the lights one night And it suddenly hit me that I was gonna walk her down the aisle one day Oh! ...and next thing I know i'm sat there crying. Yeah Try not to be an overly emotional person. I try not to be and I just like

07:56 I cried so hard coming down the aisle that first time. Oh my goodness, oh! That was the hardest thing...I think that's the hardest thing I've ever done. Wow And she married a great guy and I was happy for him and all that but still I don't know why but that was really one of THE most emotional moments in my life Yeah well I'm getting goosebumps thinking about it you're giving your daughter away isn't it? Oh my gosh yeah These words don't have much meaning or substance until they're actually experiencing it, then you suddenly go oh my gosh now I know what they actually meant when they said giving your daughter away. No i think that's part of it! I think it snuck up on me a little bit

08:42 So I wasn't able to handle it very well. Yeah, well that's a perfect intro into the subject because i think for most people the money subjects sneaks up on them upon them a little bit And, you know, listen I love so much about your story and your journey but people like to get to know each other on a podcast. So we'll dig into just a tiny bit of that history but I know from the from your career journey it started in the Navy right? How did you end up being a financial planner in the Navy?

09:37 I went to, well they paid for my school first of all. Oh okay! That's an American thing right? What happens... the army or one of the forces pays for you to go to college is that how it works? It's yeah it's really different so we have academies too there's a naval academy that you can go to and that's one way that officers are trained another way is through what's called ROTC And that's where they, you can go to a number of schools like the University of Texas is where I went and They pay for your college and while you're in college You do some training but it's so much better because you know I wore a uniform like once a week and the rest of time. I was just a college kid you know? And then when you get out you earn your you're given a commission in the Navy and you know you go you go Do Your Thing

10:32 And then there's a commitment after that, generally four years. And that's what I did. I ended up doing my four years while at the University of Texas, I studied accounting which is kind of weird because most naval officers are engineers But I was an accountant. So you say you finish uni and then, you owe them four years to pay it back? And then what kind of year is this when your kid's 29? Was that like... Blimey! Did you catch the flipping tail end of Iraq and that sort of stuff or...? Yeah, I caught the tail end of all that stuff like 90-94. You know, wasn't over there anything but we also did a lot of drug interdiction ops in the Caribbean

11:18 And, you know a couple of little things that would pop up from time to time. Like pirates and stuff? Yeah! A little bit yeah... I used to joke with my kids, I had a sword, you know, you get a sword And, what did you do with the sword? I was like, whoa. I fought pirates! They're like what are you talking about?! I kept that going...I don't know, my 29 year old still thinks we fought pirates in the grave. You kept it going up to the centre, that's absolutely awesome Yes I did no doubt Yeah totally so your on a boat

11:58 And just like in everyday life, you've got sailors who have got wives back at shore. They've got young families and...and your helping them basically unravel their financial dramas basically is that right? Yeah, and so I was uniquely suited to that because of the fact that you know. I had some training and if you read my book You'll see I have some training too because my dad did a really good job of teaching me some things yeah Just cutting there's perfect fit you should mention that and I do apologize One of the reasons how we got to be connected was around your book launch. And the book is called... I keep like, I kept getting this wrong because i was trying to search for it thinking

12:44 Thinking thoughts about... Lots of T's. Thoughts on things financial. Say it again? Thoughts on things financial, yeah and once you get it it's got a nice ring to it but until you get it... So Rob's book Thoughts On Things Financial is on Amazon You can go and get it there I know because because I've seen it there. Thoughts on Things Financial And It's A Practical Guide, really practical guide for people Get an understanding of their financial planning and tracking their finances into future. But we'll definitely hear more about that, but the essence of this book is your whole experience from this story that we're talking about now in the Navy right through to your very successful Schulz Wealth Company and all the people you've worked with there so this is really your whole career

13:38 I'd say so. You know, when I wrote it, I decided I wanted to... wanted it to be comprehensive and my publisher people were like well that's crazy that's too much information. I was like no! I mean I get the same questions over and over again from people. I see the same success stories from the same habits. I was like, man, I want to write all this stuff! I want to put all this stuff down and I think that book is unique from that standpoint because I've actually worked with hundreds of people and helped them put their kids through college and retire do all these things

14:28 And a lot of people that write financial books don't have that experience. So, that's what I tried to do. I tried to put those stories in there to help solidify these just basic things you need to know. It doesn't have to be complicated! It's not! You know? It's not complicated but there are some basic tenets that are super important if you want to be financially successful...I believe Yeah, listen for people listening right this is going to be a relatively practical podcast session tonight with Team Superdad because I want to make it as much value for the Team Superdad members as possible. And if you're listening to this and wondering what that is come on over to teamsuperdad.com forward slash network

15:15 And you just, you know usual stuff. Give your name and email address and you will be put into our group all the previous podcasts and the training that we've got in there and there's live sessions and it's a community stuff and so yeah teamsuperdad.com forward slash network and you can become a bit come to be part of that But the book is written in very practical everyday language. I mean, it's not a heavy finance book. It's a read. Obviously someone has got to have an interest in managing their finances but it's very accessible and I've read the different chapters that I was given and it's very accessible

16:00 I guess, do you know what? Even as i'm saying it. It's a relief! Oh really yeah okay When you read the way that you've approached some of the subjects is...it's like oh gosh okay right well that's not too hard yeah I could do that okay yeah so let's look at it from a journey perspective right people couples let's look at it as a family situation people get together It's unlikely that either of them have got their finances handled that well. There are very few people in this world who actually go a good handle on their finances, would you agree with that? It is kind of uncommon for people to have a hand on their finances. It is uncommon and there are varying degrees of financial health with people

16:54 One of the important things here, okay that I see over and over and over again is people think that no you don't know about anybody else's finances so you assume that yours are just awful. Okay a lot of people do that and there's this shame they kind of happens they're kind of ashamed of where they are or upset about maybe some of the poor decisions that they made And man, I mean if you're gonna get better at this stuff the first thing you have to do is you gotta get rid of that. Otherwise thats going to trip you up because your not going to go find help. You know because your not gonna want to admit some of the mistakes that you've made

17:37 And that's the first thing I want to say is that everybody struggles through this stuff. You just, and it's a constant journey and we're all going to make mistakes. I've made mistakes. Everybody has made mistakes and we're gonna be okay you know? The key to it is to just keep marching forward and to be honest about where you are with your spouse absolutely! With your kids I think one of the worst things we can do is try to hide what our real situation is from our kids because they can learn from that. They can learn from our mistakes just like they can learn from the good things that we do and that could lead to some dysfunction, if you're trying to pretend like your something your not

18:31 Both ways, by the way. I see very very wealthy people that want to pretend like they're not you know and That doesn't provide the right message either because these kids are going to be very wealthy sometime too And they need to learn how handle that and then I can learn how do it if your hiding from them Hope some of that makes sense Honesty is super important with all this financial stuff with each other with your financial planner everybody Yeah, and particularly do you know what the why that message is really important right now is because the world is a bit crazy. People for various reasons could be really struggling with money but has an impact on relationships. Relationships break down too often because of money

19:17 You've got a couple who are really in love and then money troubles come along and just wipes out trust, it wipes out communication. It wipes out intimacy and all because of what? Because you just said it because they didn't communicate about it. They didn't go and get the right help. And sadly suicide rates are just far too high globally particularly among men so yeah whatever your financial situation is There is no shame in going and getting advice. There is no shame and going having a conversation with someone who's qualified to look at your finances, and help you through this so wherever you're at whoever's watching or listening to this please at the start of this conversation take on being open honest with people in your life and seeking out the right advice Yeah because there are solutions

20:10 And that's the thing, you mentioned suicide. That's usually when somebody just can't see a solution. Well solutions come around when you want to look at what the issues are and that's pretty much all financial planning is as we just bring a couple into the room and we start talking first of all we look at their true situation right now We look at what they want it to be, you know. What are some of the goals and so forth and so on? And we don't have all the answers right then but what's really cool is that our brains start working towards those solutions. That's how our brains work! Yeah... You expose all this and your honest about it and talk about it and then you can start creating these solutions

21:01 You know, most of the time I'm just kind of kicking back and they're figuring this stuff out. We come back six months later and they've made incredible progress because they're communicating now and their... They know what the issues are and they're finding creative ways to solve it. It's amazing! Yeah we talked about that on the podcast before you know in a particular activating system when you start to focus on a problem From the perspective of a solution, then we get creative ideas spark. You start to notice things around you in a different way. You have different conversations. Two people that perhaps were arguing and frustrated with each other now start to share ideas and laugh and joke about some that might be silly, some that might be realistic

21:53 You put a silly idea and great idea together, and you come up with an even better idea. And quickly you can take the significance out of a financial struggle and turn it into a financial goal. Are people realistic about their Financial ambitions or do too often people think, oh well there's no way I could save that much money and so before they've even started everything gets shut down? That's a good question. Um...I think most people when if they've never done any financial planning they don't know they have no idea They have no idea whether what they want to do is feasible for not They just don't know

22:44 And that's a big point of the book and what I try to do is, you know, you gotta know. You need to know! The only way to know is run the numbers and calculate it. You can't just go through life going well...I'm doing this..I hope all works out You know, that's not financial planning. Financial planning is backing into some numbers and then seeing whether your current situation is able to support that And in most cases if you take all the goals that you ever want from a financial standpoint... ...you can't achieve them all! Okay? So you have to prioritize

23:32 Just like everything else, and come up with those things that are most important to you based upon your values. Not somebody else's values not mine yours and then you focus on those things that are most important That is where you allocate your resources And next thing you know You're achieving those things Maybe somethings that were important to other people or maybe thought should be important but isn't important to you Those things may don't happen but it is okay And so what are those segments? Are we talking house, holiday, kids college, retirement... Is some of it life kind of stuff and then other is more frivolous throwaway things. But they've all got a place on the wheel right? They've all got a slot on the wheel correct? Yeah I would say so

24:27 And everybody's gonna have different values or things that are important to them, and they do. They go... I mean you think of a car... What would be the list? If someone was making lists now what would those kind of categories be? Well, I think that's the thing is sometimes we don't know because we haven't thought about it and then what happens is this thing that I wrote about called short-term bias Because our brains were Evolve haven't evolved as fast as modern technology has evolved Okay, and so what happens is sometimes we give priority to those things that are closest a transaction That's closest over Things that are actually much more important to us but are much further out see that That is why you have to do financial planning because your brain can't do that. You know your brains looking at

25:21 We've got to buy a car for our son. He's going to be here in the States, 16 years old and he'll get a car. So we have to do that and it has to be safe and needs to be new all that kind of stuff so you know where we're putting top dollar on that and all our priorities over money resources are gonna go to that Well, that's the short term bias. So it is we haven't... Short term bias going focus on all in yeah focusing all in on that and but really man That's not as important as trying to make sure college is paid for and then retirement

26:04 The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz So that you can make a better decision about that car for your son, based upon the other things that you know are later further down. Not so short term but they're long-term but maybe they're more important I would argue than they are and what do you mean not ignore them just by the most of... The best greatest car you possibly can with everything you've got Yeah and in one of the excerpts that was shared in your book it said about someone

26:47 It looks like a sensible idea to pay off your debts with the bunch of money that were previously in a retirement fund, but without a sensible financial expert helping you through that it might have been the worst decision you've ever made. And equally it could be the right decision but unless you've got the skills to know that you've got to use your money in a way that's going to serve all the goals you've got coming down Right, and just like what you talk about so often about having balance on all these different things in your life. Well your financial life is the same thing it has to have some balance to it and if you are just completely debt-free okay but you have absolutely no money saved that's a disaster! That's an absolute disaster because you're gonna end up

27:41 In debt, again. I mean no question because you don't have any cash and an emergency comes up or if you just even need to buy tires for your car or truck then you're done. You're going to use your MasterCard in back-in-debt again. That's not smart! Well, that's how this money subject can be a problem for people who are you know in inverted commas rich people or poor people. People with loads of money and not so much money the person with loads of money can be just as cash-poor as the person with hardly any money right? This is about looking after your money So you've got some to spend somes being saved sums getting through every day

28:28 Yeah, and that's right. I don't really use the term as far as somebody has lots of money... Basically everybody uses this term, I call it net savers and then there are net spenders. There aren't rich people or poor people, there are net savers and their net spenders. And it doesn't matter How much money you make if you spend more than you make You're a net debtor and over time it may take a long time. It may take 20 years, but over time... ...You're gonna sink yourself Okay Because over time you are spending more than you make and that's going to be a problem And you're not going to achieve personal financial success and then a net saver is just the opposite of that they're always

29:23 spending less than what they actually make. It's just that's what they do, they do it weekend out month and years and years and over time They can accumulate, they can achieve And then have the resources they need to put together for their financial goals And it all works out great! Neither one of them are really aware sometimes Of who they are in why everything like with a NetSaver The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz

30:07 I was going, man just...I've just really had some bad breaks. You know this happened over here or whatever that cost a lot of money and you know I just wasn't able to handle it because you didn't have the savings, you didn't have the resources to deal with it. That's the difference And on a basic level you find out that one of those people was spending $100 bucks a month on Starbucks And the other one wasn't. They just had different... their attitude to spending on little things was slightly different and they made the money, they managed their money better I guess it boils down to managing their money better? It does! It really boils down to habits and having good financial habits and sometimes it comes down to kind of tricking yourself into those habits

30:55 Okay, so tell us more about that because these kind of habits I would imagine are at the root of lots of couples relationship problems where finances are at play because one could have good habits and they're not going to bad. So they could just have habits that clash. This is an important subject because financial pressure can ruin relationships and it's heartbreaking when The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz

31:35 And I'm sure you see that a lot in your work, don't you? Oh for sure. You know so couples that are married generally... ...you don't marry somebody like yourself, you marry somebody different and I see that all the time There'll be one who's maybe a net spender and one that's a netsaver That happens all the time, but they can be very happily married to each other. You just have to recognize who you are And then, you know put in place some mechanisms, some ways to trick yourself. And just have awareness, you know. I think the first thing is you just have to be aware. Personally me, I love this big money. I mean, I really do and you would think that I've always... Yeah, he's an accountant! Yeah, I had this down since I was three years old. You know what? I never had any of these. Well no, that's wrong.

32:35 I have so many different habits and just expenses in fun things that I like to do. You know, that's kind of the way I live So you know? I always want to buy new golf clubs or whatever it may be And and so I've had to learn how To kind of trick myself make sure that I have the money that I need when those emergencies and opportunities arise And then it just becomes part of my daily life, you know. And then it works out. Okay great so let's end the second half of our conversation and put some real substance in this because we've talked about habits We've talked about... You just said there how

33:19 You've got people who feel like they were lucky or not. So I think what would be really cool would be to, you know for anyone listening and watching this is that we can give them some practical things to take away of course go and get your book is a really good thing to do So, first of all people if we just take this conversation there's the goals part of it right so we're gonna get really clear on what kind of money we're going to need for our future. Right? I think so really the first step is to see where you are right now. You're gonna do an audit of your finances. What can we do to create that audit

34:03 The book has a couple of worksheets you can use, but it's really pretty simple. One is going to be a cash flow, is what I call it. It's really a budget but people hate that word so I call it the cash flow. Cashflow projects into the future as well. It does and that's what I always do, I'm always trying to ask what do we see coming up? Not what happened it's not a so you're right it's not necessarily an audit it's just uh...it's a way of just trying to see what the year is going to be like So how much money are we gonna make And where are we going to spend that money? And when we subtract that out, is it a positive number? Yeah. You know and if it is then how are we gonna allocate that positive number you know to forward ourselves in our financial success Okay cool so

34:57 We have a cash flow document in Team Superdad. You've got cash flow documents in the book that people can get as a template, you can also search Google for Cash Flow Template right? Absolutely! If you're making a cash flow, simply putting on there if it took the year, Christmas, birthdays holidays or any kind of occasion where you are going to be spending money then you've got your just general expenses what are you expecting to spend each month And then on top of that, obviously you've got income. So where's your money coming in across the year? Across each month and so when someone fills that in on an Excel sheet or a Google spreadsheet they will then see I have X thousand dollars a month say we as a household we have five thousand dollars a month great

35:47 Our normal expenses are $4,000 a month. Great! So we should have £1,000 left at the end of each month but Christmas costs $6,000 and summer vacation cost $6,000 so now we're back to zero and that's the cash flow that people need to get their head around there is it? Yeah in those annual numbers Those annual numbers are really important. Jonnie, you nailed it! That's the stuff that usually trips people up. They can usually sit there and balance things month to month if they're just living because they're watching their account and going oh yeah I'm doing good. Well then like you said vacation holiday comes up uh things like that taxes whatever it may be... That-that's what trips them up or those those annual ones. That's why you have to sit down and write it out to really see where you stand. Yeah for a car

36:37 You could say, oh yeah the car cost me a hundred bucks a month gas. Okay but then you haven't allowed for something goes wrong at least once a year there's a service... So actually no the car doesn't cost that much money it costs double that amount okay so so that's our practice we're managing our money there and then our goals in terms of how much money we think we might need in the future you know so we're gonna put what are kids college in there What if we want to start having a bigger house or planning for things like that? Do we paint the picture of our perfect life and then work out what that life would cost, is that an idea?

37:20 Our financial planning software is pretty robust. So, you know we'll take all that... We call them cards just because that's what they look like in the financial planning software so you know a client will come in and say well we want to buy vacation home or we want to relocate to another home or whatever it may be that's a card to us and then we'll go into we can get all the data on that And then what happens is the software runs that within the cash flows of all the other things that have to happen. You know, saving for college, saving for retirement etc and so forth and then we can read that and tell whether it's feasible or not

38:05 Or at what level it's feasible and things like that. Okay, so an individual dad or a couple planning this together they could take that card idea They can even stick it on the wall and go new house kids college Daughters wedding dress even though the daughter is fifth in my mind My daughter's ten right? In my mind I'm like somewhere down The line is a bloody twenty grand Oh yes, at least. So those cards you can kind of especially as a couple you can play with this and say all right well let's get creative let's have brains let's have a bottle of wine and laugh about how we're gonna plan our future out and just start to put some numbers on there and boom now you've got a wall or notepad in front of you where you can see the life you want for yourself in five ten years time and some idea what it's going to cost okay cool yeah and you verbalize it which

38:57 Sometimes hard, you know even with your spouse sometimes to really verbalize what it is that you want to achieve because once once you say it It's out there. You know so it's a great thing for everybody to do for sure Yeah And thats a coaching exercise anyone who has experienced coaching before will know exercises like that and if you've not experienced coaching before then That's the kind of stuff that happens when you're working with coaches I challenge you to think about new things for yourself and your life that are bigger and greater than what you've got now because that's the growth, that's the stretch. That's how do have a better life where you plan it and start making it happen? And so then I can imagine a couple at that stage then go well that's fun

39:45 But how the hell are we going to do that? It's almost like a bit of an ugh. They feel a bit deflated by that, you know. They're working with you or they're reading your book. They've got these ideas for things they want to have happen but now they got no idea how they're gonna make that extra money. What what's the next stage in the process? Well with us like in our process as a professional financial planner I mean that's where... You know we start allocating whatever was left at the end of that cash flow statement Okay, so there's money that is left over. That is what we have to put towards what it is you just verbalize that you want to achieve and then we have to carefully allocate it toward those things aside where its going to be obviously first you need an emergency fund, you need some plain old cash make sure that you can pay for those expenses and so forth that may come up from time-to-time

40:40 And then from there, you're going to allocate it into accounts towards these different goals that you have for yourself. You're gonna run out of money before you run out of goals potentially and I think that you just have to understand that's totally okay! That's gonna happen and that's okay because this is a ongoing process The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz

41:19 And in between, they're finding ways to solve these different things. And over the course of maybe even years some of these things we've tackled and handled and now we can go to the next thing. Well now maybe that vacation home is a possibility you know? You've got an erase all these things see I think that's really important let me backtrack to that when you get when y'all just didn't get erased at work okay What's the first thing you think of doing with that money? Spending it! Woohoo! Holiday. If you have a plan, and you have these cards up on your mirror... The first thing you're going to think about is that vacation house or relocation

42:09 That's the magic of the planning is that it gets your mind geared up and looking for the opportunities to achieve some of these things when those opportunities arise. Yeah, we've had lots of guests on the podcast about mindset Affirmations about the law of attraction, you know we've had a kind of religious angle on it as well. These things are all sort of the same subject now where attention goes energy flows and you can't help but focus on something that's important to you or that you've got a plan for and in the same way if You're not asking for it praying for it focusing on it believing it working towards It ain't never gonna happen. Yeah, yeah and

42:56 When, well I lost my train of thought one second. So we've got our plan we've been given some extra money oh yeah so what's in terms of you know Fred I've read the Philistine prophecy and obviously it is in the Bible they talk about tithing and putting up a portion of your money to one side Oh I've... What his name? Dave Ramsey, obviously for our American friends and anyone involved in money around the world will probably have heard of Dave Ramsey but his debt you know money snowball and the emergency fund so these are things that people who are focused on their money might have heard about. The emergency fund that's really vital is everybody should be clear on the importance having an emergency fund right?

43:46 Yeah, I think that's the very first thing even before you start trying to knock away the debt is that you have an emergency fund to make sure it's going to be there so when the debt resolves itself. You don't go back in and then...I want to go back because we were just talking about charitable donations and giving away your money The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz

44:32 The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz, I think that when you do that, you take a little bit of the control away from money. Because money can control if you let it. It can scare you and make you...it can give your emotions negative. And the key, best way to take away that control that money has over is to give it away. And then if you're able to do that

45:24 The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz Well, I deserve it. The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz

46:22 I actually have a positive number, you know after doing that cash flow thing and the wide majority of humans on this world absolutely do not have no earthly idea how they're going to feed their family tomorrow. Yeah yeah that's such a grounding thought um and i've heard money be spoken about as energy you know there Whether people have come across that too much before or believe it or don't believe it, but it's a flow. It's coming from over there, it's passing us by and then it's going out the other side and... ...it has been written about and spoken about in so many different ways but the more that you stop the flow of that money just like a dam, it is gonna dry up coming to you as well which... So it's brilliant to hear someone

47:16 With such an extensive depth of experience being able to reference that as well and almost without the technical sides to it, it's anecdotal. Yeah people that are generous seem to have a better control over their money seem to have more abundance yeah I can't explain it because I mean I get that cash flow and i can see how much money is being just basically given away. Yeah, and you know half of my brain kind of sits there and goes wow! You know we can actually use that. Stop! We could actually use that to solve some of this but the reality is more they give away it just seems like the more of that flow... I like that flow concept yeah

48:05 It just works. I can't explain it from a financial standpoint whatsoever, sorry! People just have to believe in it... where do the flowers come from? In spring they're just like BING! Yeah money's like that and it does flow Most of the satisfaction we get for money is when we're able to make it do something really amazing And, you know when you take your money and give it away someplace where it really can do a lot. I mean that's fantastic! Being parents same deal. One of the best financial decisions you could make if you wanted to be absolutely as rich as possible is just don't have any kids right? Because they're expensive but of course thats absolutely not the point whatsoever

49:01 Yeah, totally. Finding the joy in spending money and in the little things. So what about... this is a good way to kind of wrap this up. People who want more money they've got to make more money yeah? so that's I guess that second half for the financial message I don't just mean, oh go and get a different job. The world is full of messages about multiple streams of income and different ways of making money. I believe that's important that people start to understand whether they do it or not they at least need to understand I can and I could and probably should make money in different ways Do people ask you when they come see you? They ask how can i make more money what are the different ways I can make more money

49:57 Yeah, sometimes it does come up in different ways. And that's part of the art of financial planning is trying to determine which part may be the problem when we don't quite have the biggest number at the bottom that we're looking for. Well do expenses need to get cut? In some cases they do you know there are some expenses that need to be dealt with The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz

50:43 The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz Sometimes you have a discussion of maybe one spouse is staying home with the kids and maybe something else has to happen there from an income standpoint. But most of the time when it comes up,

51:26 It's usually when some type of transition has occurred, okay? And that's like a divorce or the death of one spouse or the other. Some type of transition is where it gets hard because you're sitting there going okay I have this lifestyle and these other things are important that you talk about so much taking care of our kids and so forth but I'm going to have to go get a job that is going to take up a lot of my time in order to make all this work. In my experience, sometimes those are absolutely the hardest conversations to have because when

52:12 You're gonna have to go work harder and make more income, and therefore maybe have to give up some of your free time for your family or something like that. Yeah it's a lifestyle choice or lifestyle versus sacrifice there is a whole lot of other stuff going on. There is not right or wrong... well there is from a financial standpoint sometimes I mean you really do have to just do what you have to do okay? And understand that and that can be really hard. But people that are really growing their money, you know the compound leverage they're saving they're investing The thousand dollars that they put out is coming back as fifteen hundred dollars on a regular basis like these are people what you must be working with some people who have You know They're leveraging their lifestyle in a way That's really creating more

53:12 The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz How are people leveraging their finances to really increase the amount of wealth they're creating? What are some of the ways we can do that.

53:51 Well, leveraging means using debt somehow. And that's usually done here at least it's usually done with some type of property-type deal and you can't do that. I'm more of a stock and bond kind of guy so... So usually what it mean is you're not necessarily leveraging with debt but what you're doing as your just gotta start somewhere and you started getting that money set aside and invested and you let it stay there instead of using the proceeds off of it so that money, in essence can make money on the money that is making and so forth. That's that ramp up time value of money compounding concept that's critical for your long term goals You have to have them And you don't see it for many years It's kind of one those things where you've got to have some faith

54:50 The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz But to get to that point, you had to start somewhere. Yeah and Darren Hardy's book Compound Leverage is a great book on that. I dare say there's reference to it in your book i'm sure but this is... people can do that really easily now can't they? With..I know in the States the popular one is called Robin Hood here in the UK there's something called Moneybox

55:32 And that's literally small amounts of money on a weekly, monthly whatever basis going into an account and then it's being put towards the purchase of you know small percentages stocks shares on the stock market. Yeah that's exactly right! You just want to take the long play you know and make sure this your diversifying in the Just kind of allocating it. Investing, in my opinion the right way is just incredibly boring because you're not buying cannabis stocks or anything like that I mean you're literally just allocating in the stock market and different parts of it and over time you know thats going to grow faster than inflation That's all you really have to do You just need inflation by a little bit And keep putting money there and not touch it

56:28 And it becomes significant. And it's not complicated, is it really Rob? You can explain it but the point I want to make about it is if someone watches eight hours a month of reality TV or watches 10 hours a month of football there are things that we do that use up time and they are enjoyable – I'm not saying we should all stop them To start to get a little bit of an idea of what investing actually means and what would happen if I could put $100 a month into a stocks-and-shares ICE, or as we call them here, our stocks-and-shares bond over there. Just a little bit of understanding of what that's doing for you and how it works is a skill for life, its knowledge for life right? It is! And there's a whole chapter in the book where I tell the story of my dad

57:23 teaching me about time-valued money when I was 10 years old and it's my favorite story in the book. There are a bunch of them, but it's my favorite one that really happened. I remember it as ten years old every bit of it and that's how I explain it in the book is just as if you're a ten year old sorry but that's what seems to work The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz

58:13 So listen, just as we come to the end now summarize the book for us. I don't mean to summarize it word by word but who's it for? What can people get out of reading your book because I think it's a really vital book that a couple should get Yeah well its designed for pretty broad crowd like you said Jonnie You should be able to read it very easily even if you're really not into finances at all. And so, it doesn't matter I've had a lot of people that are really into finances and they enjoyed the stories and enjoyed having those tools to for instance teach their kids about finances.

59:04 You know, just kind of starting out. Maybe you have kids and they're in that chaotic stage as I like to call it and remember it when you don't know which way is up? Yeah! I think I wrote the book for them. I really do. And I was thinking about myself back then while I was writing it. A really good read if you're in that stage. And I think it'll just take a whole load off your shoulders and you'll be able to understand that you're normal, and this is achievable and that sort of thing. So some young people have really said it's changed their lives which is what you want to hear as an author so... Yeah, of course! For the couple experiencing stress around finances this book and any book that falls into same sort category

59:58 Get wise, you know don't sacrifice your relationship over something as silly as money. Just fill up the knowledge that you're missing and allow it to be a strength in your relationship. Yeah Awesome! And of course it's available at Amazon anywhere else is just search the internet I guess or there's a massive picture on the front of your website isn't there? So yeah, you can get off my website www.schulzwealth.com or Amazon All those places where they sell books. Of course, who buys anything from anywhere but Amazon at this point? Just give up right! Literally and I try to buy from elsewhere and it goes wrong and you're just like oh man... And then you flip in click-click and it arrives eight hours later and you go yeah they own us

1:00:55 We'll be devastated when there's no other shops left but until that time it's kind of fun, yeah. Our kids can pick up the pieces! Rob, it's been absolutely brilliant having you on the Team Superdad podcast. We'll talk more and if there is a live session maybe a Q&A or something then that would be great if you're up for that? Yeah no that'd be great! That would be a lot of fun. Yeah, SchulzWealth.com Rob it's been a real pleasure enjoy the rest of your day with your family. Alright thanks Jonnie

1:01:37 What an interesting chat, what a great guy. Like I said before on the run-in you know money managing your money accounting it's not always that fun but it is vital you know literally literally is one of the most important things in our life not that money is the most important thing in our life but the flow and energy in our life is vital and like it or not in the way that our world operates The Jonnie Jensen Show, Jonnie Jensen, Rob Schulz

1:02:13 Build things to create a legacy, to manage our family. To enjoy ourselves, to reward ourselves so money you can't go anywhere without it really and as Jim Rohn once said it's not everything but its right up there with oxygen So I hope you enjoyed that come on over to teamsuperdad.com forward slash network if your looking for some one-on-one dad coaching then by all means come and work with me in that You can just go the website teamsuperdad.com and request that Whether you're single, divorced or keeping your relationship on the go trying to manage your kids are simply wanting to find more joy and energy and power because we work from the power code then then you're in the right place. Come and come and say hello reach out and I will have that conversation My name is Jonnie Jensen it's been a real pleasure to have you with me i'll see you on the next episode of The Team Superdad Podcast

1:03:10 This has been Team Superdad. Find us at teamsuperdad.com Join the program and create the best life ever for you and your children You are not alone! You're on Team Superdad