121: Your Money Mindset with Hilary Hendershott of Profit Boss Radio

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 3 February 2017

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#121: What’s your personal “Money Operating System”?

Hilary Hendershott is the personal finance expert on the NBC Evening News in California’s Silicon Valley. An MBA, CFP, and TEDx Speaker, she’s an an authority on money strategy and mindset.

Money has an infinite supply; then why do most people have a limiting belief about money? Also, we discuss how men and women approach money differently.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:05 Rising mortgage interest rates.

05:00 Hilary Hendershott interview begins.

06:03 Limiting beliefs about money.

08:47 Money isn’t real; it’s a concept, an abstraction, a promise.

11:43 Lottery winners that go broke.

13:44 Common “Money Operating Systems”.

18:18 Does society spend too much time emphasizing money?

20:00 Men vs. women and money.

26:04 Real estate investing for cash flow.

28:22 Tax depreciation on rental property. Avoiding depreciation recapture.

31:38 “Money is the root of all evil.” Really? Keith analyzes.

Resources Mentioned:

HilaryHendershott.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

MidSouthHomeBuyers.com

GetRichEducation.com

MortgageNewsDaily.com

Transcript

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0:00.0	Get Rich Education is brought to you by Norrata Real Estate, the real asset investor, and Mid-South homebuyers.
0:11.4	Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else, and can provide you with more wealth and happiness than you ever thought possible.
0:29.8	Now, here's your host, investor, entrepreneur, business owner, and educator Keith Weinhold.
0:40.6	Here we go. Hey, welcome to Get Rich Education, episode 121. I'm Keith Weinhold. We're going to talk
0:46.7	about your money mindset today. Is the way that you think about money holding you back from
0:52.4	obtaining wealth. What is your personal money
0:55.5	operating system? A great guest and I are going to discuss this in a bit. But first, yes, I'm back
1:01.9	in the United States today after a long foreign trip and we've got rising mortgage interest rates
1:07.5	here in the U.S. That's really something that's been happening since
1:11.0	late last year, and a lot of people thought rates would be substantially higher than where they
1:16.4	are now. People thought they were going to spike up five years ago, and they hadn't, and people
1:21.4	have just been waiting and waiting and waiting for them to go up. If you bought your cash flowing
1:27.0	income property with long-term fixed
1:29.6	interest rate debt already, then that's great. Congratulations. You've locked in your rate,
1:35.1	and hopefully you've locked it in for 30 years. If you think rates are going to continue to rise,
1:40.1	well, you want to buy before they go up too high, of course. The Fed has raised the federal funds
1:45.8	target rate each of the last two Decembers, a quarter point each time, and like I've said
1:50.6	before, that rate doesn't directly affect long-term mortgage rates, but there is that loose
1:56.1	correlation, and some economists predict two or three or even four more such rate hikes that are going to happen
2:03.5	just this year.
2:04.8	We'll see that can hurt your profitability on new buys, of course, as you're paying a higher
2:10.2	cost of capital in the form of a higher interest rate.
	...

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