Episode 328: TMBA328: How Do You Manage Your Money?
Tropical MBA: Entrepreneurship & Founder Lifestyle
Dan Andrews; Ian Schoen
4.9 • 527 Ratings
🗓️ 17 March 2016
⏱️ 32 minutes
🧾️ Download transcript
Summary
http://www.tropicalmba.com/investments/ As many longtime listeners know, Dan and Ian have recently sold their business. This has put them in a rather unique and advantageuous situation, and forces them to ask the question: what do you do with your money once you have made it? Managing your money requires a completely different skill set from building a business, and even savvy entrepreneurs often have to seek the advice of a professional. On this week's episode, you'll hear from Joe Wirbick, the president and co-founder of Sequinox. Joe is sharing some of his best tips on how to evaluate financial professionals and how to identify whether or not they can help you.
Transcript
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| 0:00.0 | The 35-year-old came to me. |
| 0:01.3 | It said, I have $100,000. |
| 0:02.4 | I never want to work again. I'd say, well, you're going to be poor the rest of your life. Hey, podcast, listener. Even if you are alone in your entrepreneurial journey, know that today, right now in your earbuds, you are joined by thousands of entrepreneurs from all around the globe seeking to grow better, more profitable, location independent businesses. |
| 0:22.8 | If you'd like to learn more about what we do and download our entire back catalog, check out tropical MBA.com. |
| 0:37.3 | As many regular listeners know, |
| 0:39.3 | Bossman and I recently sold one of our businesses. |
| 0:43.4 | And if you haven't yet listened to that episode, |
| 0:45.5 | highly recommend it. |
| 0:46.5 | It's probably one of our best received. |
| 0:48.8 | I mean, we just learned so many lessons through that process. |
| 0:51.6 | So you can check that out at tropical MBA.com slash sold. |
| 0:55.7 | That transaction left us in a situation that many entrepreneurs are lucky enough to face, |
| 1:01.5 | which is, you know, what do you do with money? We spend years learning what to do with clients, |
| 1:06.7 | what to do with cash flow, you know, all these skill sets of entrepreneurship. But we don't really talk about what to do with money, how to invest your money to make sure |
| 1:15.8 | it's there for retirement and to make sure that it grows for you. |
| 1:18.5 | Yeah. And until now, Dan, I think until we've had a little bit of money, I've been very |
| 1:22.1 | skeptical of these people that promise to be able to manage your money and make money with your money. |
| 1:28.3 | Yeah. |
| 1:28.5 | But one of the things that we're learning is that it's a completely different skill from |
| 1:32.2 | building a business. |
| 1:33.7 | Right. |
| 1:34.4 | And so you've got to bring in the professionals sometimes. |
... |
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