Winning At Wealth

Why Investing is Against Your Natural Instincts

As humans, our brains are embedded with a natural instinct to survive. We constantly check our surroundings for danger and become hyper-vigilant when faced with uncertainty. We want to protect ourselves at all costs and react to perceived threats with a goal of self-preservation.   While our survival instinct is necessary to keep us from harm’s way, this drive to survive is not always helpful when it comes to investment decisions. We’re hardwired to panic and pull our money at the first sign of a downturn instead of riding it out and letting the market recover.   Rather than letting fear rule your investment strategy, it’s imperative to be realistic about your short-term and long-term financial goals.  In this episode, John explores our natural aversion to long-term investments and the importance of understanding which investment tools allow you to build real wealth.   In this episode, you’ll also hear:  * How natural instincts work against investments   * Understanding your long-term financial plan   * Winning at wealth like Warren Buffet   Must-listen moments:   [00:02:16] It's a natural drive to react first to protect yourself when faced with an unknown situation.  [00:04:08] It's probable that these very instincts that are designed to protect us may actually work against us when making investment decisions.  [00:06:33] This is why it's so important to understand your individual goals and to match your chosen investment tools to your unique financial job. If you do this appropriately, the fear of a market downturn affecting your lifestyle in the short term is greatly minimized.  Find your path to winning at wealth by visiting https://www.winningatwealth.com [https://www.winningatwealth.com/] and by following us on:  Instagram: https://www.instagram.com/winningatwealthpodcast/ [https://www.instagram.com/winningatwealthpodcast/]  Facebook Page: https://www.facebook.com/profile.php?id=100083889685976 [https://www.facebook.com/profile.php?id=100083889685976]  LinkedIn: https://www.linkedin.com/company/winning-at-wealth/ [https://www.linkedin.com/company/winning-at-wealth/]  YouTube Channel - https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA [https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA]          Disclosure: The preceding program is sponsored by Fourth Avenue Financial, which is solely responsible for its content. Securities offered through J.W. Cole Financial Member FINRA SIPC, Investment advice offered through J.W. Cole Advisors. Fourth Avenue Financial, J.W. Cole Financial, and J.W. Cole Advisors are unaffiliated entities. The opinions expressed by John K. Burdette II should not be construed as specific investment, legal, or tax advice. All economic and performance information is historical and not indicative of future results. Investing may involve the risk of loss of principal. Any Tax advice on this show is not intended to be used by any person for the purpose of avoiding US federal or state tax penalties that may be imposed on such a person, and each listener should seek advice from their tax advisor or legal counsel on topics that arise from the show. John K. Burdette II is not providing legal or tax advice. Nothing should be construed as solicitation of an offer to buy securities.

How Healthy Financial Habits Lead to a Healthy Credit Score

Rather than focusing on an arbitrary number for your credit score, it’s equally important to focus on the habits that create your financial reality.   Your credit score consists of your payment history, credit utilization rate, the length of your credit history, and the various types of credit you have open. Sure, a high credit score can better your chances of getting a loan with lower interest rates, but your score will never increase without intentional action to secure your finances.   Following the Winning at Wealth steps makes you more attractive as a borrower to potential lenders. This means you’ve followed the steps consistently and created and followed a budget, established savings and investments, and even have an emergency fund to fall back on. This is the type of financial responsibility that puts lenders at ease.    In this episode, John illustrates why good credit is more than just a number and how to become a magnet for money and boost your creditworthiness.    In this episode, you’ll also hear:  * The most important factor in your credit score   * Benefits of different credit categories   * What lenders look for in borrowers    Must-listen moments:   [00:01:20] The most common credit score is known as your FICO score. This score is used by approximately 90% of lenders and is the key to receiving the best loan rates and terms.  [00:03:32] As you can see, the broad categories that determine your credit score are simply the hallmarks of sound financial management.  [00:07:33]  If you're struggling to finance a home or a business, remember to look inward at the things you control rather than blaming the lenders who are denying you credit.   Find your path to winning at wealth by visiting https://www.winningatwealth.com [https://www.winningatwealth.com/] and by following us on:  Instagram: https://www.instagram.com/winningatwealthpodcast/ [https://www.instagram.com/winningatwealthpodcast/]  Facebook Page: https://www.facebook.com/profile.php?id=100083889685976 [https://www.facebook.com/profile.php?id=100083889685976]  LinkedIn: https://www.linkedin.com/company/winning-at-wealth/ [https://www.linkedin.com/company/winning-at-wealth/]  YouTube Channel - https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA [https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA]          Disclosure: The preceding program is sponsored by Fourth Avenue Financial, which is solely responsible for its content. Securities offered through J.W. Cole Financial Member FINRA SIPC, Investment advice offered through J.W. Cole Advisors. Fourth Avenue Financial, J.W. Cole Financial, and J.W. Cole Advisors are unaffiliated entities. The opinions expressed by John K. Burdette II should not be construed as specific investment, legal, or tax advice. All economic and performance information is historical and not indicative of future results. Investing may involve the risk of loss of principal. Any Tax advice on this show is not intended to be used by any person for the purpose of avoiding US federal or state tax penalties that may be imposed on such a person, and each listener should seek advice from their tax advisor or legal counsel on topics that arise from the show. John K. Burdette II is not providing legal or tax advice. Nothing should be construed as solicitation of an offer to buy securities.

Avoiding Pitfalls of Windfalls

Ever think about what you’d do if you won the lottery? Maybe you’ve daydreamed about buying a bigger house, a faster car, or paying off debt for yourself and your family.   Chances are you won’t actually win the lottery, but it’s still a good idea to build financial habits that can manage a large windfall of cash instead of blowing through it like so many past lotto winners have done. You might receive an unexpected inheritance or a large financial settlement, so it’s crucial to understand how to handle your money and make it work for you, regardless of where it comes from.    It can’t be emphasized enough how much the financial decisions you make today can positively or negatively impact your overall financial future. Even if you never receive a lump sum of money, following the Winning at Wealth steps is still highly beneficial. Adopting a proper money lens, creating an emergency fund, understanding your investment goals, and consistently making sound financial decisions can tremendously pay off in the long run.  In this episode, John reveals why windfalls of money don’t always last as long as we think and how to set yourself up for financial success.  In this episode, you’ll also hear: * Understanding the reality of bankruptcy  * How much one million dollars is really worth  * Fast money vs. financial success  Must-listen moments:  [00:01:38] I think you're going to be a little surprised to learn how easy going broke can really be. [00:05:33] You can certainly still have a lot of fun with a million dollars. The problem arises when you're focusing on the fun that the million dollars can offer you, yet you still expect it to create an income that lasts over your life.  [00:06:17] Usually people that find financial success get there on purpose by practicing sound money habits over long periods of time. Find your path to winning at wealth by visiting https://www.winningatwealth.com [https://www.winningatwealth.com/] and by following us on: Instagram: https://www.instagram.com/winningatwealthpodcast/ [https://www.instagram.com/winningatwealthpodcast/] Facebook Page: https://www.facebook.com/profile.php?id=100083889685976 [https://www.facebook.com/profile.php?id=100083889685976] LinkedIn: https://www.linkedin.com/company/winning-at-wealth/ [https://www.linkedin.com/company/winning-at-wealth/] YouTube Channel - https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA [https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA] Disclosure: The preceding program is sponsored by Fourth Avenue Financial, which is solely responsible for its content. Securities offered through J.W. Cole Financial Member FINRA SIPC, Investment advice offered through J.W. Cole Advisors. Fourth Avenue Financial, J.W. Cole Financial, and J.W. Cole Advisors are unaffiliated entities. The opinions expressed by John K. Burdette II should not be construed as specific investment, legal, or tax advice. All economic and performance information is historical and not indicative of future results. Investing may involve the risk of loss of principal. Any Tax advice on this show is not intended to be used by any person for the purpose of avoiding US federal or state tax penalties that may be imposed on such a person, and each listener should seek advice from their tax advisor or legal counsel on topics that arise from the show. John K. Burdette II is not providing legal or tax advice. Nothing should be construed as solicitation of an offer to buy securities.

Long-Lasting Wealth: Consistency is King

The key to attaining financial freedom is not a magical secret, but a simple principle you've heard since childhood - consistency.  Although it sounds simple enough, keeping a steady and disciplined approach to your financial decisions isn’t always easy, especially when the news cycle is brimming with reasons to trade now instead of invest long term.  However, two big reasons to remain consistent are the added bonus of compound interest and the fact you alone wield the power to control your financial outcomes. Using a written budget and investment strategies that match your long-term financial goals will help make consistency more achievable.  In this episode, John highlights the power of consistency and how your financial decisions influence your success or failure.  In this episode, you’ll also hear: * Understanding financial success doesn’t happen overnight * A systematic approach to investing  * Main differences between traders vs. investors  Must-listen moments:  [00:02:12] Approaching your finances in a hot or cold fashion will slow your progress versus staying focused and disciplined toward the goals you've set for yourself. [00:03:27] When you're spending money on something that you enjoy but that others may see as frivolous, there's nothing wrong with that, as long as it was properly accounted for within the budget. [00:07:47] To do this with your investments, you have to develop a steady temperament where you don't get worked up by the news of the day or the internet clickbait that you encounter.   Find your path to winning at wealth by visiting https://www.winningatwealth.com [https://www.winningatwealth.com/] and by following us on: Instagram: https://www.instagram.com/winningatwealthpodcast/ [https://www.instagram.com/winningatwealthpodcast/] Facebook Page: https://www.facebook.com/profile.php?id=100083889685976 [https://www.facebook.com/profile.php?id=100083889685976] LinkedIn: https://www.linkedin.com/company/winning-at-wealth/ [https://www.linkedin.com/company/winning-at-wealth/] YouTube Channel - https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA [https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA] Disclosure: The preceding program is sponsored by Fourth Avenue Financial, which is solely responsible for its content. Securities offered through J.W. Cole Financial Member FINRA SIPC, Investment advice offered through J.W. Cole Advisors. Fourth Avenue Financial, J.W. Cole Financial, and J.W. Cole Advisors are unaffiliated entities. The opinions expressed by John K. Burdette II should not be construed as specific investment, legal, or tax advice. All economic and performance information is historical and not indicative of future results. Investing may involve the risk of loss of principal. Any Tax advice on this show is not intended to be used by any person for the purpose of avoiding US federal or state tax penalties that may be imposed on such a person, and each listener should seek advice from their tax advisor or legal counsel on topics that arise from the show. John K. Burdette II is not providing legal or tax advice. Nothing should be construed as solicitation of an offer to buy securities.

Financial Mistakes from My Youth

If you could travel back in time and give your younger self financial advice, what advice would you offer?  Unfortunately, time travel doesn’t exist, so get ready to hear John share three of his biggest financial mistakes from his youth that made for a bumpy financial road and one of the greatest decisions of his life.   While it’s admirable to learn from your mistakes, if you can avoid losing years of savings and investment potential, your financial future will undoubtedly be more stable.  Thankfully, no matter your age, you can prepare your finances for the long haul by following the 5 Steps to Winning at Wealth: To review, the 5 Steps of Winning at Wealth are:  1. Having the proper money lens: Wealth is created in the service of others.  2. Have a workable budget in place to avoid pitfalls like consumer credit card debt.   3. Ensure you have a fully funded emergency fund to avoid missed payments, late fees, and high-interest rates.   4. Understand your investments and goals, then allocate your money accordingly.   5. Consistently focus on these steps to avoid years of struggle!   In this episode, John recalls his own financial journey and how it’s never too late to get your finances back on track.   In this episode, you’ll also hear: * What happens when you rush success  * Reality of zero-interest credit card offers  * Taking investment risks with no rewards  Must-listen moments:  [00:03:00] I'm still optimistic and I still want my business endeavors to grow as fast as possible, but before I decide to pursue expansion, I make sure to maximize the potential of every investment that I've already made. [00:04:37] We still have credit cards, but we never charge more than can be paid in full at the end of every month. [00:06:39] And finally, if I had consistently focused on these steps, I would have avoided the years of struggle, and I would have found myself much further ahead financially than I am today. Find your path to winning at wealth by visiting https://www.winningatwealth.com [https://www.winningatwealth.com/] and by following us on: Instagram: https://www.instagram.com/winningatwealthpodcast/ [https://www.instagram.com/winningatwealthpodcast/] Facebook Page: https://www.facebook.com/profile.php?id=100083889685976 [https://www.facebook.com/profile.php?id=100083889685976] LinkedIn: https://www.linkedin.com/company/winning-at-wealth/ [https://www.linkedin.com/company/winning-at-wealth/] YouTube Channel - https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA [https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA] Disclosure: The preceding program is sponsored by Fourth Avenue Financial, which is solely responsible for its content. Securities offered through J.W. Cole Financial Member FINRA SIPC, Investment advice offered through J.W. Cole Advisors. Fourth Avenue Financial, J.W. Cole Financial, and J.W. Cole Advisors are unaffiliated entities. The opinions expressed by John K. Burdette II should not be construed as specific investment, legal, or tax advice. All economic and performance information is historical and not indicative of future results. Investing may involve the risk of loss of principal. Any Tax advice on this show is not intended to be used by any person for the purpose of avoiding US federal or state tax penalties that may be imposed on such a person, and each listener should seek advice from their tax advisor or legal counsel on topics that arise from the show. John K. Burdette II is not providing legal or tax advice. Nothing should be construed as solicitation of an offer to buy securities.