Welcome to the bigger pockets money podcast show number 172 finance Friday edition where we interview Jeff and talk about getting your spending under control the sunk cost fallacy and selling under performing assets.

Just looking at the amount that we spend a month I mean for how much you make it doesn't sound like okay week week.

We make enough to spend so much great but then you know if you try to plan you okay well how many you know you try to look at your number let's say.

How many doors do I need at this much cash flow to reach our goal right and then all of a sudden when you're like wow we need 14 thousand dollars it's a staggering amount of wealth you have to build an empire to support that.

Hello hello hello my name is Mindy Jensen and with me as always is my low hanging fruit expert co host Scott trench.

These introductions are always so appealing Mindy Scott and I are here to make financial independence less scary less just for somebody else.

To introduce you to every money story because we truly believe that financial freedom is attainable for everyone no matter when or where you're starting.

That's right whether you want to retire early and travel the world going to make big time investments in assets like real estate start your own business or maybe you're already a millionaire and just don't know how to rejigger your financial position to become free.

We'll help you reach your financial goals and get money out of the way so you can launch yourself towards your dreams.

Scott I'm super excited to have Jeff on today because Jeff has a nice problem to have in that he makes a super high income and he's not really keeping track of where his money is going so he has a lot of really easy I don't know the easiest the right way to say it but a lot of really easy fixes.

To launch him towards his financial dreams which are retiring early.

Yeah, I think I think that he's really got control of his finances he wants to do better he's he's got a lot of things going right for him his family's doing a good job in a lot of ways.

What I think this show highlights is a classic problem that is crippling middle class America in general on this country.

It's that the money the liquidity the cash leaks through your financial position and in the numbers the net worth numbers only show up in that home equity and that retirement accounts and really meaningful or robust way and that limits freedom.

It's it's net worth on paper but it's not enabling you to make changes in your life or it doesn't feel like you're getting ahead it feels like you never have any cash feels like you're only we always got that one month that feels like if you lose your job your whole position blows up.

This is the situation that Jeff has found himself in in spite of the fact that he's a millionaire and so I think today taking that digesting his position and spitting out a new framework that allows him to accumulate real liquidity and begin redistributing his wealth so that some of his wealth at least is intangible assets that produce spendable cash flow today or spendable liquidity today is going to make a huge difference in his freedom quotient if that's a thing that he's going to do.

If that's a thing her ability to enjoy life and realize his goals because he's there he's there or close he just needs to re strategize his capital deployment.

Yeah, I'm really excited for his follow up episode because I think that he is going to once he starts making these changes they're going to become easier and easier and easier to continue to make.

Before we bring Jeff in my lawyer makes me say the contents of this podcast are informational in nature and are not legal or tax advice and neither Scott nor I nor bigger pockets is engaged in the profession of legal tax or any other advice you should seek your own advice from professional advisors including lawyers and accountants regarding the legal tax and financial implications of any financial decision you contemplate.

Thanks many Nash we go talk to Jeff about money.

Yes, we should okay before we get to the show let's hear a word from today show sponsors.

Jeff welcome to the bigger pockets money podcast I'm so excited to talk to you today.

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