The Financial Power Play

How Most People Build Their Finances Backward and The Simple Fix with Michael Santonato

Discover how to construct a solid financial foundation with expert advice from Michael Santanato, a financial educator and wealth strategist. Learn the step-by-step approach to managing income, protecting assets, eliminating debt, and planning for your dreams, all rooted in the metaphor of building a house.  Main Topics: * The correct order of financial planning: income, protection, debt elimination, investments, goals * Why most people build their financial house upside down or backwards * The importance of income protection, including disability and critical illness insurance * Strategies for debt reduction — good debt versus bad debt * Maximizing government grants, tax benefits, and investment vehicles * The mindset differences between the wealthy and the middle class regarding money * How ultra-high-net-worth individuals approach risk, advisors, and financial planning * Practical steps and accountability in creating a sustainable financial plan Timestamps:  00:00 - Introduction to building your financial house the right way  01:39 - The importance of protecting income through insurance  02:09 - The dangers of accumulating high-interest debt  02:39 - Investing and savings: money working harder than you do  03:51 - The mistake of building the house top-down: dreams before protection  04:33 - Practical steps to increase income and manage cash flow  06:14 - Real-life case study: helping clients manage expenses and reduce waste  07:14 - The necessity of income protection for unforeseen events  09:13 - Significance of disability, critical illness, and life insurance  10:15 - Overlooking disability insurance risks for self-employed and higher earners  11:18 - The importance of ensuring benefits are in place before potential gaps  12:29 - Risks of insufficient insurance in real-life scenarios  13:48 - The proactive approach: set and forget insurance plans  14:03 - Eliminating debt as a crucial next step after protection  15:09 - The dangers of high-interest debt and mortgage considerations  16:07 - Good debt vs. bad debt, leveraging equity, and investment strategies  17:13 - The value of maximizing savings and investment plans  18:29 - Strategies for balancing debt repayment with savings  19:29 - Building retirement and education savings plans  20:53 - The wealthy’s approach to taxes, protection, and investment  21:52 - The importance of building wealth in a structured, disciplined way  22:37 - How building the house correctly leads goals and dreams to manifest naturally  23:19 - The mindset of living in the now while working towards future dreams  24:36 - The significance of having trusted advisors for wealth maximization  26:42 - Differences in mindset and strategy between the wealthy and middle class  28:00 - The importance of eliminating risk and leveraging networks and advice  30:23 - The value of paying for specialized advice and managing value over price  33:15 - The difference in attitude towards fees between middle class and wealthy  34:52 - The importance of valuing advice that builds wealth and security  36:20 - The concept of price versus value and the good, fast, cheap triangle  38:15 - Michael’s new book: "How to Become Financially Indestructible" — a comprehensive guide  39:18 - Final thoughts: Education first, professional help second, building wealth intelligently

Behind the Scenes of Junior Hockey Ownership and Valuation with Cary Kaplan

Explore the nuances of buying, selling, and valuing junior hockey teams through the insights of industry expert Cary Kaplan. Whether you're passionate about hockey or interested in sports investments, this episode uncovers what it truly means to own a sports team. IN THIS EPISODE: * Cary Kaplan's background in sports marketing and team management since 1995 * The landscape of junior hockey in Canada and how it has evolved * How teams are valued — beyond profits — driven by scarcity and passion * Common reasons owners sell their teams, including family and passion-driven decisions * The typical costs and current market values for junior hockey teams * The role of ownership passion versus financial motives in team transactions * How teams continue to increase in value due to demand, not profitability * The process and discretion behind buying and selling teams * Advice for prospective buyers: financial considerations and passion as primary drivers * The broadening scope of sports organizations Cary works with, including non-traditional sports TIMESTAMPS: 00:00 - Introduction to Cary Kaplan and his expertise in sports management 01:08 - Cary's journey from playing sports to sports marketing leadership 02:10 - How Cosmos Sports was founded and its role in Canadian sports 02:53 - The landscape of junior hockey and educational pathways for players 03:48 - The importance of education alongside sports ambitions 04:33 - The spectrum of junior hockey levels and leagues in Canada and the US 05:57 - Key services provided to hockey teams (fan experience, sponsorship, ownership transitions) 07:06 - Valuing sports teams: scarcity and passion outweigh profitability 07:53 - Ownership turnover and passion-driven reasons for selling teams 09:39 - The current market value range for junior hockey teams 10:47 - How to buy a team: discreet process and the role of brokers like Cosmos Sports 13:02 - Diversity of sports organizations Cary works with, from hockey to archery 14:39 - Financing and the importance of having sufficient funds before buying 15:22 - The misconception of teams as profit centers; passion and community are key 16:36 - The impact of demand on team valuation and future prospects 17:47 - The appeal of owning junior teams rooted in passion, community, and love for the sport 19:10 - Final advice for those interested in entering sports ownership

The Surprising Cost of Youth Hockey and What Every Parent Needs to Know, with Kaydee Duhamel

Discover how Kaydee Duhamel managed her family's hockey journey while navigating the financial challenges that came with the sport. This episode shares personal insights on budgeting, balancing parenting and coaching, and long-term financial planning—all grounded in hockey’s realities. Main Topics Covered: * Kaydee's journey from childhood hockey to coaching her kids * The financial rollercoaster of youth hockey: budgeting, borrowing, and paying down debt * Effective strategies for hockey-related expenses and long-term financial planning * Lessons learned about maximizing joy and reducing stress in youth sports In this episode: * Kaydee shares her early start in figure skating and transition into competitive hockey * The experience of playing in boys' hockey and later coaching her children's teams * How she managed her household on a single income while supporting her kids’ hockey pursuits * Practical tips on budgeting for hockey, including spreadsheet use and expense management * Her strategy for paying down hockey-related debt and building a retirement nest egg * Cherished memories from her kids' championship games * Advice for parents new to youth hockey about planning and enjoying the ride Timestamps: 00:00 - Introduction: Balancing hockey, family, and finances 00:31 - Kaydee's early hockey journey and transition from figure skating 01:33 - Competing at AAA and transitioning into coaching 02:17 - Continuing to play adult mixed and rec league hockey 03:11 - Coaching her kids and handling parent-player dynamics 03:52 - Her kids' experiences and their varied personalities 05:41 - Managing hockey costs on a single income house 08:56 - Navigating financial chaos and budgeting strategies 10:01 - The high costs of tournaments, travel, and equipment 11:01 - Living within limits and making sacrifices 12:20 - Creating and sticking to a budget with spreadsheets 13:02 - Managing credit card debt effectively 14:04 - The importance of frequent budget review 15:03 - Strategies for paying off high-interest debt 17:28 - How her financial outlook has improved post-hockey 18:33 - Future goals: retirement savings, coaching, and family plans 19:56 - Advice for parents: start budgeting early and seek resources 20:42 - Lessons from money mistakes, credit card reliance 23:13 - Cherish the journey and find joy in youth sports Thank you for joining us on this episode of The Financial Power Play. I'm excited to continue bringing you stories, insights, and strategies to help you build a financial future as strong as your passion for hockey. If you enjoyed this episode, please subscribe, share it with your hockey crew, and leave a review. Book your consultation at UptownWealthManagement.com [http://UptownWealthManagement.com] ⁠ Connect with Brett:⁠ LinkedIn⁠: https://www.linkedin.com/in/brettcranson [https://www.linkedin.com/in/brettcranson] Facebook: https://www.facebook.com/uptownwealthmanagement⁠ [https://www.facebook.com/uptownwealthmanagement⁠] Instagram: https://www.instagram.com/buildingwealthwithbrett/⁠ [https://www.instagram.com/buildingwealthwithbrett/⁠] TikTok https://www.tiktok.com/@buildingwealthwithbrett [https://www.tiktok.com/@buildingwealthwithbrett]

Why Buying a House Makes You Poor

The podcast discusses the principles of building wealth and achieving financial freedom, emphasizing the importance of avoiding debt, living below one's means, and investing the surplus. It also explores the topics of crypto, buying a house, financial independence, and practical steps for financial security. Takeaways * Avoid debt that traps you * Live on less than you earn * Invest in surplus and let time do its job Chapters * 00:00 Building Wealth and Financial Freedom * 06:03 Debt Management and Investing Surplus * 13:27 Financial Independence and Compounding

The Hidden Power of Mental Resilience That Transformed a Rob Pallante’s Life

Discover how former pro hockey player and performance coach Rob Pallante transformed adversity into a mission to empower athletes with mental resilience. Hear insights on the importance of mental skills in sports and life transitions. * Rob Pallante’s hockey career and early influences * Overcoming injuries, setbacks, and adversity in sports * Lessons learned from a near-death motorcycle accident in 2015 * Transition from professional sports to corporate and coaching roles * The importance of mental performance for young athletes and pros * Building mental resilience as a foundation for success * How parents and coaches can support young athletes’ mental development * The role of identity and purpose beyond hockey * Adopting a mental performance journal and mental skills training * The future of mental health support at various levels of sports 00:00 - Introduction to Rob Pallante: from professional hockey to mental performance coach 00:45 - Early hockey journey and influences from family and youth sports 01:30 - Facing injury, adversity, and the lessons learned from setbacks 02:40 - The pivotal motorcycle accident in 2015 and its impact on life perspective 03:50 - Transition from a sports career to corporate and coaching—lessons in identity and purpose 05:00 - The importance of separating the athlete from the person for mental well-being 06:15 - Developing mental resilience through coaching and self-awareness tools 07:30 - The power of mental skills in handling adversity and transitions 08:50 - How young athletes can start mental training early—building a mental "four-legged stool" 10:20 - Supporting athletes through the ladder of hockey, from minor leagues to pro 11:45 - The significance of mental health resources and outside support systems 13:00 - Rob’s coaching practice: working with NFL, NHL, and youth players 14:20 - The current landscape of mental health and the need for proactive training 15:40 - The role of parents, coaches, and organizations in nurturing mental skills 17:00 - Common pitfalls: pressure, identity issues, and unrealistic expectations 18:10 - Personal stories of struggling with identity after sports 19:00 - Rob’s reflective insights on his own growth as a parent and coach 20:10 - The value of mental performance journals—Rob’s guided prompts and resources 21:30 - How mental training complements physical skills and technical mastery 22:45 - Supporting a balanced approach to youth sports and holistic development 23:55 - Find Rob's mental performance journal and coaching services 24:45 - Final thoughts: empowering athletes for life beyond sports Resources & Links * Mindset Body Bank [https://www.instagram.com/mindsetbodybank] – Rob’s coaching platform on Instagram Connect with Brett:⁠ LinkedIn⁠: https://www.linkedin.com/in/brettcranson [https://www.linkedin.com/in/brettcranson] Facebook: https://www.facebook.com/uptownwealthmanagement⁠ [https://www.facebook.com/uptownwealthmanagement⁠] Instagram: https://www.instagram.com/buildingwealthwithbrett/⁠ [https://www.instagram.com/buildingwealthwithbrett/⁠] TikTok https://www.tiktok.com/@buildingwealthwithbrett [https://www.tiktok.com/@buildingwealthwithbrett] Until next time, stay focused, stay flexible, and keep playing your game!