Author, speaker, entrepreneur and money-behavior expert Darryl Lyons is on the show today to talk to the middle class about our behavior with money.
If you’re not on food stamps or you’re not vacationing on your yacht, then you and I both would be considered the middle class...and we have unique challenges.
All of us our continually hyper-marketed to on a daily basis to get us to spend our money on “stuff” right now and putting off any kind of delayed gratification.
Think about our credit cards, Amazon one-click, Apple-Pay, “Hey Alexa”, and all the other ways to spend money without really “feeling” money.
Genius, right?
But what happens when our spending doesn’t leave room for saving and we don’t save enough? Did you know that $1 million is no longer enough to retire with and saving 15% of your gross income still isn’t going to get you to your goals?
And how much should you have saved at each age (30, 40, 50, 60, 70, 80…)?
How do you know when you have enough saved and what are things you should be doing to ensure you pivot into chapter two of life with enough to start chapter two.
During our interview Darryl and I go over…
Why $1 Million for Retirement Still Isn’t Enough The Ben vs Arthur Example The power of “Pause” How to create your “filters” so you don’t break the bank The science behind cash vs plastic How much you need at each age And why the word “retirement” may as well be a cuss word ;)
All the show notes, links and anything Darryl and I mentioned can be found at https://www.moneypeach.com/session110
EP173: What is a Health Savings Account?
EP172: Help! I Have IRS Problems - What Are My Rights?
EP171: Should I Lease a Car or Get an Auto Loan?
EP170: How Does a Cash-Out Refi Work and is it Right for Me?
EP169: What is "Infinite Banking" and is it a Scam?
EP168: Building Wealth through Multifamily Real Estate Investing with Gino Barbaro
EP167: How to Create Digital Cash Envelopes with Ryan Clark
EP166: How to Open a Brokerage Account
EP165: Passive Income via Hard Money Lending
EP164: What is the BEST Mortgage For Me Right Now?
EP163: Financial Independence in Her 30s with Diania Merriam
EP162: How Does a HELOC Work and Is It Right for Me?
EP161: The 50/30/20 Budget For Those Who Like Simple
EP160: The Most Important Part of Your Money You Aren't Doing Right
EP159: Should I Buy a New Car? (The REAL Costs Broken Down)
EP158: How to Finally STOP Living Paycheck to Paycheck
EP157: How to Use Profit First in Your Biz or Side Hustle
EP156: How I'm Picking Winning Stocks that Beat the Market
EP155: The 4 BEST Retirement Investment Accounts in 2021
EP154: How to Get Started Investing in 2021
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