Summary

In this conversation, Steve shares his journey from modest beginnings in Utah to becoming a successful investor with a diverse portfolio that includes oil and gas, real estate, and a payments company called ProPay that has since sold. He discusses his investment strategies, the importance of patience and liquidity, and the lessons learned from various market cycles. Steve emphasizes the significance of quality assets and cash flow in building wealth, while also reflecting on the challenges and opportunities he encountered throughout his career. In this conversation, he shares insights on managing debt and risk in business, the journey of entrepreneurship, and the importance of writing 'Rich Routines' to impact future generations. He emphasizes the need for a balanced life, the value of hard work, and the significance of financial education for children. The discussion also covers effective charitable giving and concludes with wisdom on delayed gratification and emotional intelligence in decision-making.

Takeaways

*Steve's investment strategy focuses on quality assets that produce cash flow.

*He emphasizes the importance of patience in investing, especially during market cycles.

*Investing in oil and gas requires caution due to the complexity and potential for fraud.

*Real estate investments can be lucrative, especially during market downturns.

*Self-storage has been a successful venture for Steve due to its low overhead and demand.

*ProPay's success came from pivoting to serve a niche market in multi-level marketing.

*Liquidity is crucial for taking advantage of investment opportunities when they arise.

*Steve's approach to real estate involves getting cash back quickly through refinancing.

*He believes in the importance of location when investing in real estate.

*Steve's journey illustrates that hard work and adaptability can lead to success in various industries.

*The sooner you can lease it up, the sooner you can refinance.

*If you get a good asset that's generating income, why would you want to sell it?

*Writing a book was never on his bucket list.

*The premise is figuring out the life you want to live.

*All five areas of life are really important: spiritual, physical, emotional, mental, and financial.

*If you live your 20s like few people will, you can live like few people can.

*Teaching kids financial literacy starts early with allowances.

*Giving money away effectively is hard and requires scrutiny.

*Delayed gratification is key to managing emotions.

Sponsored By:

Indeed.com/unveiled

Summary

In this episode, the hosts Jace and Stacey share a personal financial update and Jace's parents make a reappearance as they discuss the complexities of retirement, particularly focusing on the baby boomer generation. They share personal financial updates, explore the emotional and mental challenges of transitioning into retirement, and highlight the importance of planning for a fulfilling life post-work. The conversation includes insights from the hosts' parents, who are navigating their own retirement considerations, emphasizing the need for financial preparedness and the impact of work on identity.

In this conversation, they explore the multifaceted aspects of retirement, including financial fears, the importance of creating memories over material wealth, and the emotional readiness required for this life transition. They discuss the significance of health and fitness, the planning necessary for navigating Medicare, and the strategies for spending down their nest egg. The dialogue emphasizes the value of shared experiences and the need for ongoing discussions about retirement planning, while also reflecting on personal growth and adapting to changes in life.

Takeaways

*Retirement planning is crucial for financial security.

*The transition to retirement involves emotional and mental adjustments.

*Investing in experiences can provide lasting joy and memories.

*Family budgeting becomes more complex with growing children.

*Maintaining a balance between work and personal life is essential.

*Education funding for children requires careful planning.

*The gig economy offers alternative income options for retirees.

*Health and fitness play a significant role in retirement readiness.

*Communication about finances within families is important.

*Retirement is not just about finances, but also about lifestyle and identity. Retirement is not just about finances; it's about creating memories.

*Navigating financial fears is a common challenge in retirement.

*Shared experiences with family can enhance the joy of retirement.

*Health and fitness play a crucial role in enjoying retirement.

*Planning for future adventures is essential for a fulfilling retirement.

*Understanding Medicare is vital for financial preparedness in retirement.

*Emotional readiness is as important as financial readiness for retirement.

*Spending down the nest egg requires careful planning and consideration.

*It's important to maintain a healthy lifestyle as one ages.

*Retirement should be viewed as a new chapter, not an end.

Summary

In this episode, Adriel shares his journey from being a baseball umpire to engineer to becoming a full-time real estate investor. He discusses his initial foray into real estate, the challenges he faced, and how he diversified his investments, including a vacation rental in Tulum, Mexico. Adriel also reflects on market changes and his future plans in the real estate sector. In this conversation, Adriel shares his journey in real estate investment, discussing his experiences with cryptocurrency, the current state of the real estate market, and his future financial goals. He reflects on the importance of diversifying investments, the challenges posed by market fluctuations, and the lessons learned throughout his career. Adriel emphasizes the significance of taking calculated risks and the value of learning from past decisions, particularly regarding retirement accounts and investment strategies.

Takeaways

*Adriel transitioned from engineering to full-time real estate investing.

*His first property was a full gut renovation bought for $17,000.

*He financed his first deal with help from friends and credit.

*Adriel learned the importance of cash flow in real estate.

*He pivoted to flipping and wholesaling after initial rental experiences.

*In 2021, he decided to quit his engineering job to focus on real estate.

*Adriel purchased a 14-unit apartment complex with his savings.

*He invested in a vacation rental in Tulum, Mexico.

*Market changes have affected his investment strategies.

*Adriel maintains a diversified portfolio, including crypto investments. Adriel's portfolio includes both real estate and cryptocurrency investments.

*He sold a portion of his Bitcoin to recover his initial investment.

*Maintaining cash reserves is crucial for managing real estate properties.

*Adriel transitioned his 401k funds into real estate syndications after leaving his job.

*He regrets not contributing more to his 401k during his employment.

*The Houston real estate market is currently facing challenges due to oversupply.

*Adriel believes in the long-term implications of population decline on real estate values.

*His target net worth is around 10 million dollars.

*He continues to invest in real estate despite market uncertainties.

*Adriel advises new investors to embrace fear as a sign of growth.

Sponsored by:

Indeed

Indeed.com/unveiled

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