Wealth Series 2.0 - Episode 7 - Flip The Triangle and Retirement Planning
Win Make Give with Ben Kinney
Ben Kinney Training
4.9 • 1.5K Ratings
🗓️ 23 January 2023
⏱️ 39 minutes
🧾️ Download transcript
Summary
When you understand how to leverage active and passive income, you can create a wealth plan that fits your desired lifestyle at retirement. In episode seven of Wealth Series 2.0, Ben Kinney, Bob Stewart, and Chad Hyams talk about how to successfully "flip the triangle" and plan for retirement.
Disclaimer: You should not use our advice to make financial decisions. We highly recommend you seek professional advice from someone authorized to provide investment and retirement advice.
In this episode, we cover the following:
- The goal of flipping the triangle [2:39]
- Flipping the triangle exercise [4:00]
- How financially free people live [7:15]
- Flipping your triangle faster [7:52]
- Flipping the triangle examples [8:34]
- Prioritizing income-producing assets [13:00]
- Stats about retirement [14:00]
- Calculating a comfortable retirement [15:29]
- The 4% Rule, examples, exercises [18:05]
- Social Security benefits and examples [24:45]
- Retirement worksheet [27:25]
- Planning for retirement [33:00]
Resources discussed in this episode:
- Enroll in Wealth Series 2.0: https://WinMakeGive.com/wealth/ to receive all the workbooks and have the resources emailed to you directly
- Download the workbook and resources for Episode 6 at https://winmakegive.com/wealth-part-7/
- Win Make Give Facebook group: https://www.facebook.com/groups/WinMakeGive
Connect with the hosts:
- Ben Kinney: https://www.BenKinney.com/
- Bob Stewart: https://www.linkedin.com/in/activebob
- Chad Hyams: https://ChadHyams.com/
- Book one of our co-hosts for your next event: https://WinMakeGive.com/speakers/
More ways to connect:
- Sign up for our weekly newsletter: https://WinMakeGive.com/sign-up
- Explore the Win Make Give Podcast Network: https://WinMakeGive.com/
- Listen to Win Make Give Season 3 on YouTube: bit.ly/3pPEdAx
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Transcript
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| 0:00.0 | Welcome to the When Make Give Well series. This has been Kenny joined here with Chad |
| 0:14.8 | Himes and Bob Stewart. Hi guys. Hey Ben. Hello. We are excited to continue on our journey |
| 0:23.4 | of the Well series. Today we're going to dive in to retirement planning. Okay. Knowing what |
| 0:32.9 | we have to start doing now so that when we buy that RV and those pink flamingos that we |
| 0:39.6 | put in front of our house and those weird gnome dolls that my grandma had and all the |
| 0:44.8 | other weird stuff that our grandparents have done over the years, that we have an awesome |
| 0:49.4 | retirement. Awesome retirement. Sorry. But before we go into the retirement planning workbook, which |
| 1:03.3 | can be found at winmakegive.com forward slash wealth or forward slash resources, download the |
| 1:08.2 | workbooks and all the attachments to follow along, answer the questions to win prizes, cash, |
| 1:13.4 | and have an awesome time. Woo. Getting excited. Here's what I've learned after years of changing my |
| 1:24.4 | own habits and working with other people that you can make a lot of money at your job or in your |
| 1:33.4 | business. You can drive a nice car. You can have a nice house but it still doesn't mean that you |
| 1:44.2 | have wealth or you have financial freedom. You can have a secure job. You can have a great credit |
| 1:52.6 | score. You can pay your bills every month and still not have financial freedom boys. Yes. We have |
| 2:01.4 | 49% of the population making over $100,000 living paycheck to paycheck. So exactly. You can |
| 2:07.8 | own a business where you have a ton of employees. You can make and sell a ton of widgets. |
| 2:16.3 | Still not have financial freedom. I have friends that own thousands of acres of land |
| 2:23.0 | worth tens of millions of dollars and yet they struggle to pay their taxes every single year. |
| 2:36.8 | Financial freedom comes not from just having assets, |
| 2:44.4 | not from just having income but specifically from having assets that can create income. |
| 3:00.5 | We call this Chad flipping the triangle. Okay. The concept we created. |
| 3:08.4 | It's about moving from having normal income, job income to having assets that create income. |
... |
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