We made it…100 episodes. After podcasting for nearly 2 years, Ken reflects on this accomplishment and thanks those who supported him. Upon hitting 100, Ken reflects on how planning is his number one takeaway when it comes to finances. Ken revisits the podcast’s most popular episodes that a majority of listeners gravitated to. Finally, Ken announces that he’s taking a sabbatical from the podcast to take pause and focus on other endeavors.

Ken has always been a proponent of teaching your children financial literacy for adulthood. Ken would sit down with his children weekly to review their financial snapshots. Ken was limited however since the children couldn’t access their accounts autonomously. Enter FamZoo, a paid software program that enables children to manage their own financial accounts and optionally have debit cards – with parental oversight. Ken reviews this program for those looking to teach their children financial responsibility.

Ken tackles what financial advisor arrangement best suits you. If you’re new, not into DIY and would like to trust someone, then Commission or Fee Based might be for you. But surprisingly, Ken isn’t a fan of either of these structures. His preferred method is an hourly based fee where the advisor takes the time craft a financial plan tailored to you; a Bottom Line Up Front arrangement. Ken goes through all of these fee structures, offering up key details that will help you make your determination.

Tax Season is soon upon us, with many eligible to file taxes already. Ken walks you through some considerations that will allow you to properly and legally leverage the system. No list of forms needed for this episode, just your 2019 filing. What type of deduction did you use and what bracket do you fall in? Do you use itemized or standard deductions? There are ways to leverage both, depending on your situation. Ken briefly defines these terms and then guides you to an optimal filing.

How should we approach investing during these uncertain times? Ken gives us the short and resounding answer. Whatever your strategy is…keep doing it! This is where your strategy and planning is put to the test. Especially if you subscribe to the “index buy and hold” strategy. Don’t carefully craft your ship, just to abandon it at first sight of a storm cloud. Keep moving forward with your strategy – devoid of emotional decisions. Ken breaks down the logic behind this sound advice.

Ken discusses the value of rebalancing your portfolio on a regular, fixed schedule. This device is not meant for “gaming” or timing the market, but rather to correct your risk/return parameters. If funds over or under perform, your holdings may no longer reflect your goals. For example, if your riskier holdings outperform projections, your portfolio is over-weighted with riskier assets. Ken walks you through the timing and tactics of a rebalance – including yearly cash injections or shuffling of holdings.

Ken continues his study of Paul Merriman and Richard Buck’s financial insights. The duo, Ken explains, have begun developing a strategy that is simple for investors to implement. They found that proper asset allocation is key to success. To keep it simple, you allocate these funds to 1) A Target Date Fund and 2) A Small Company Value Stock Fund. Ken expands upon these funds and the simple math you can use to divvy up these funds. If your looking for simple, actionable steps, this episode is for you.

Ken rounds out his discussion of “We’re Talking Millions” covering the last 3 points in the book. Ken mainly focuses on #10: Dollar Cost Averaging and #12: Target Date Fund. Ken already covered #11 in Ep. 81-84. With Dollar Cost Averaging, you take the fear out of investing by investing a steady fixed sum over time. Target Date Funds are a set-and-forget asset paired with re-balancing that accomplishes most of the steps in this book. Listen in as Ken breaks down what these concepts are and how they work in your favor.

Ken continues his series discussing Paul Merriman’s new book “We’re Making Millions.” Points 7-9, some may argue, fly in the face of conventional investment wisdom. #7: Invest in Small Company Stocks. #8: Invest in Value Stocks. #9: Buy and Hold. Traditionally, large company index funds are recommended, so why Small and Value picks? Ken breaks down the research and logic behind Merriman’s arguments. He compares these stock picks to the traditional picks and provides numbers that may surprise you. What’s the 40-year growth rate for small cap stocks? Is paying for Amazon worth it?

As promised, Ken continues discussing Paul Merriman and Richard Buck’s book “We’re Talking Millions,” this time focusing on points 4-6. Ken acknowledges that some of his opinions may differ from others – Ken aims to base his decisions on the research and facts available to him. Regardless, there is no assurances in investing. #4: Invest in many stocks instead of a few. #5: Keep your expenses low. #6: Invest in Index Funds, not Actively Managed Funds. Listen in as Ken expands upon these points and gives his perspective and personal experiences.

Ken provides 12 tangible action items to help boost your retirement portfolio. No crazy gimmicks or portfolio flips, just 12 tried and true concepts. Ken pulls these items from Paul Merriman and Richard Buck’s book “We’re Talking Millions.” Some concepts you’ve heard of in past episodes, others will be enlightening. Listen in to this episode to get a brief overview of this book, as well as Ken’s point of view regarding the first few items.

We’ve reached the final month of a long and difficult year. It’s time to take stock of your situation, do a little financial housekeeping and set yourself up for success in 2021. Ken walks you through a step by step checklist of how to do just that. Review your 2020 goals, how did you do? Review your balances and outline how you want to tackle them in the coming year. Coordinate with your tax accountant to leverage tax benefits. Listen in to get the full comprehensive to do list.

Ken expands upon the concepts he introduced in episode 85 – leveraging a high-deductible health plan with a Health Savings Account. Dollar contributions to HSA accounts are totally tax free, both deposited and withdrawn. The only stipulation is that the funds are reserved for medical expenses. This will be one of the most tax savvy tools in your toolbox during retirement. Ken walks you through this hack (paying out of pocket, leveraging receipts) and explains where people get tripped up.

Happy Thanksgiving! This is a time of reflection and gratitude. Ken takes the time to reflect on his own standing; grateful for his blessings and accomplishments throughout his journey. Ken reflects on his business, education, spirituality and family. Growing net worth is so much more then your balance sheet. It’s about the choices we make, the time we spend and the person we become in the process.

It’s November meaning most employers are exposing their employees to open enrollment plans. Ken offers up some ideas, concepts and even hacks regarding your health care plan. Across the country, we’re seeing a 4-5% increase in costs. Ken offers up two different plans for you to consider: A Traditional Insurance Plan or a High Deductible Health Plan. Ken outlines the considerations and differences between these two plans. Plus, Ken explains how a high deducible might actually be a hack.

The Rollover IRA is a popular tool that people use when changing their employers. Your 401k at an employer is under their plan. Rollover IRAs allow you to roll money over from that account in to your own, enabling you more control over your funds. Ken breaks down the rollover action, providing you a step by step process of what to expect. Ken also offers up some do’s and don’ts of fund management – such as avoiding taxable events.

Moving on the next tool in your Net Worth arsenal, a 401k is an employer sponsored retirement plan. 401ks allow employers to make tax deductible contributions to an employee’s savings account. Ken discusses key attributes of this type of account including a contribution “match” and “vesting schedules.” Ken explains how to utilize these features to the fullest – as well as 401k limitations. Finally, he teaches you how to set one up.

Ken continues his discussion of IRAs, this week the difference between a Roth and Traditional IRA. As discussed, both accounts are tax deferred. However, with Traditional IRAs, the money you put in can be tax deducted immediately. On the flip side, the money put in a Roth is taxed that year, but the withdrawal at retirement is tax-free. Based off of this information, Ken encourages you to understand what tax bracket you fall in – that will help you determine which one better suits your situation.

Ken shifts focus to a tangible action that you can use to grow your Net Worth, by utilizing an Individual Retirement Account. IRAs are tax deferred, meaning as it gains value over time (due to investment) you don’t have to pay taxes on that gain. Ken outlines the features of an IRA and how to utilize it. Most people are excited to set up an IRA but tend to drop the IRA process when they reach the investment phase. Ken talks you through this process in hopes to avoid the feeling of uncertainty.

Ken has undergone tons of changes these past few months. From a pandemic to braces to a new house (ep. 73), Ken has taken the opportunity to reassess his own financial outlook. He revisits his new recurring expenses, automated payments, changes in cashflow. He then applies these new factors to his financial plans – which has been a bit neglected during COVID. All this to get back to truth and back on track, because life can be messier then a spreadsheet.

One of the responsibilities of preparing your children for adulthood is teaching them how to manage their own finances. In an increasing digital age, depositing checks is becoming a lost art. Ken shares his own experiences teaching his children about checking accounts and check deposits – and why it’s important.

When it comes to personal finance, Return on Investment is something you must consider. Net worth is about culminating assets, and investments is one way to do it. Making investments is critical but tracking them is just as critical. You must assess what is going to create the best overall outcome. Factors to evaluate are the amount you invest, the return and the timeline. Is it long term? Did you factor for inflation? Ken walks you through the considerations in this short but informative episode.

Bias can appear in all areas of our life, not just race or prejudice. Ken first defines it and then frames it in the context of finance, going on to explain how it can negatively affect your finance. Take for example recency bias, which can skew your perception of future market performance. Ken delves further into these bias’ and the mistakes that it causes. Listen in to this episode as Ken helps ground you in reality and encourages you to make informed decisions – bias free.

Ken is currently on a retreat for his organization, which features keynote speaker Clint Bruce. Clint talked about how curiosity is an important quality in a leader. Ken also points out that to be curious (and admit what you don’t know) requires courage. Do you have the courage to ask questions about your finances? Ken encourages you to feel empowered by asking the right questions.

Two words that don’t evoke positive emotions – Ken often hears these words when discussing finances with others. Rather than focus on the negative, Ken offers up this: Frustration leads to Breakthroughs & Confusion leads to Learning. Ken offers up insights to combat these negatives and simplify finances, even if you’re bad with numbers. Know that with these emotions there is a happy ending.

Ken explores Abundance Mindset and it’s antithesis, Scarcity. Abundance Mindset sees more then enough opportunity for everyone. Scarcity Mindset is when you see others succeed and think there’s no opportunity left for you. Ken recounts a personal experience he had, running a triathlon. During the event, he found his “competition” to be supportive and positive, encouraging others with an Abundance Mindset, lifting everyone’s spirits. What mindset do you have regarding your Net Worth? Abundance or Scarcity.

It’s a special day for Ken and his family. This episode was recorded in his newly constructed home, an endeavor that was 18 months in the making. Ken shares the valuable insights he learned during this long, tedious process. He’s thoughts on remote working has been re-framed. He’s learned to trust the process and that “sticking with it” will yield results. And finally, this experience reaffirms the value of alignment with your spouse. Listen in as Ken expands upon these lessons.

A short but powerful testimonial, Ken talks about a Dan Sullivan quote:”All progress starts with truth.” Ken applies this kernel of wisdom to your financial situation. Only by facing the reality of your situation will you know what to do next. Sit down and assess your net worth, discuss it with your spouse and move forward with purposeful action.

Ken recounts a movie that his family recently watched: War Games. This 80s classic follows a boy as he accidentally hacks a government computer that simulates and enacts nuclear war. To prevent calamity, the boy teaches the computer that “The Winning Move” is no move at all. Relating back to finances, Ken argues that you shouldn’t try to “game” the stock market. Don’t focus on any one move or stock. Listen in to hear Ken expand on this idea and what you should do instead.

Ken deviates from his typical discussions to talk about adversity. He believes that adversity doesn’t build character but rather reveals it. What has 2020 revealed about you? What needs to change? Ken challenges you to explore this because if your not being your true self, then building wealth will have been for naught. Like net worth, you can measure this character by weighing your assets against your shortcomings. Growing wealth is a challenge and can reveal who you are, allowing you to improve yourself.

Ken touches on the well known proposition by Malcolm Gladwell: putting in 10,000 hours of work into a subject classifies you as an expert. When it comes to expertly managing your finances, your already on your way simply listening to this podcast. Every book you read and seminar you attend takes you closer. If you can’t invest time into learning finance, then call upon others to help. Apply this expertise criteria to them. Have they logged their 10,000 hours? Are there areas of expertise relevant to you?

Everyone is imperfect, we all make mistakes. In this episode you’ll find that Ken is no different. Ken shares personal accounts of his shortcomings. This includes over 117k in real estate losses as well as various business mistakes. All this to say, that these mistakes are in the past. What’s done is done and we must treat our mistakes as such: passed. Ken encourages you to let these mistakes go and press on without shame or guilt. This way you can accomplish your goals fearlessly.

Would you let a doctor prescribe you medicine without first testing you? Would you let a lawyer draft your will without ever meeting you? The answer is simply no. The same concept applies to your financial situation. Nowadays you are inundated with tons of “advice,” from the news and social media alike. “Get this, not that. You need an IRA, you don’t need an IRA.” Ken tackles this abundance of “advice” and encourages you re-frame your strategy so that it is in your best interest.

Leadership. Ken has talked about it time and time again. This week is no different. You need a leader in order to enact and drive change in your financial life. To make this happen, you must set and keep resetting the vision for you project. You must establish a “why” in order to have everyone around you buy into this vision. Set milestones and establish a cadence of realignment. Ken gives a real-life example to help you understand how to put these principles into action.

Today’s episode features a special guest, Ken’s wife Angela. In order to successfully boost and manage your net worth, you need to find alignment with your significant other. Ken and Angela discuss how they’ve navigated money and marriage. They discuss the key lessons they learned that you can apply to your own relationship. This includes buckets, reserves and insurance. What about long term planning? How do you communicate to each other? Take a peek inside the Kaufman household and learn how it’s done.

Ken focuses today on generating assets to bolster your net worth. Most people can’t rely on a windfall of cash, so your primary focus is your income. Using your competitive advantage is key to earning this income. Mark Manson said that your passion for a problem that you – and no one else – can solve is your competitive advantage. The fewer people out there that do what you do, more income your competitive advantage will earn you. Pull back and assess your own skill set and what problems you love to solve.

Springboarding from last week’s episode, Ken explores the concept of leadership, taking action, and driving change. Ken defines key traits of leadership. They must have vision, be aware of the plan and its details. A leader must ask questions and must remain within the plan’s scope. They must initiate re-calibration if needed. They don’t delegate leadership, and must own the results of the tasks that are delegated. All these traits must be applied in order to take control of your financial life.

This week, Ken takes a different approach. He discusses the difference between simple tasks that can be outsourced and stuff that truly cannot be commoditized: Innovation, Creativity and Leadership. These things cannot be boiled down to pieces and replicated. Ken then reframes this discussion in terms of personal finance and how it applies to you. When it comes to taking control of finances, you can outsource the tasks and strategy. But when it comes to leadership, it rests solely on you.

“Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.” – James Frick. Once you look at your bank statements, you will quickly realize what you prioritize. Ken asks us to reevaluate how we spend our time and money and what can we to do find alignment.

This week Ken discusses the Small Business PPP Loan, which Congress has activated in order to keep the economy afloat. A key element of PPP is the loan forgiveness attached to it. Ken is offering up his advice for those businesses who are navigating the requirements for loan forgiveness. Ken has a tool that will help you navigate these requirements. Tune in for key insights you need to know, and email ken@networthhacks.com for this tool and further support for those struggling.

In a previous episode, Ken mentioned he had to go a month without pay amid the crisis. He shares his takeaways and insights from that experience. The first lesson being that this experience has validated his decision to control his net worth. Next, Ken realized money is worthless without food to buy, and that there is a grocery baseline expense. There’s only so much you can cut when it comes to food. Finally, it’s important to loop in the kids on the negative impacts of no money and encourage financial responsibility.

Ken removes the sugarcoat and talks about what this financial crisis means for your Net Worth. Those with a low or even negative Net Worth will struggle. High Net Worth I ndividuals will be beaten and battered but will persevere. Now is the time for you to do an internal review. What is the status? What can I do refocus my energy on building net worth. In this episode, Ken zeroes in on what he believes really matters.

With the Pandemic ongoing, the US Government has taken several measures to mitigate the financial crisis. One such provision in the recently passed CARES Act allows penalty free access to your retirement fund. Ken wades through this legislation for you, sharing what you need to know. He shares his knowledge in an easy-to-track Q&A format. Who qualifies and what accounts can you draw from? Ken answers this and more as we work to weather this storm together.

With 22 million people filing for Unemployment, this economic freeze shows no sign of thawing soon. Nearly every American is affected, including Ken who won’t take an income this month. In order to weather this storm, those affected must either increase their income, decrease their expenses or a combination of both. Ken’s daughter Grace guest stars as they review how they have tightened the belt amid the COVID crisis. Ken outlines some measures you can take that you may not have even considered.

Following the feedback of last week’s episode, Ken continues his discussion of Unemployment Benefits for those struggling during the pandemic. Ken takes the time to tackle your questions and hopefully offer some helpful information. Questions include: Why can’t I reach my unemployment office? What if I quit my job just before COVID? After I apply, what do I do? How long will this last? What if I transferred states? What if I work part-time? Is it taxable income?

With the continuing implementation of anti-COVID measures, the US economy has been rocked. Over 10 million Americans have applied for unemployment benefits since the outbreak – a historic number. In this time of fear and uncertainty, Ken wants to lend a helping hand by walking you through unemployment. How is it funded, who qualifies, how do you apply? If you’ve been laid off, you’re not alone. Now’s the time to take advantage of every resource available to you.

These are trying times we’re living in. As the COVID Pandemic spreads, many people have been laid off from work. Ken decided the best way to help those laid off is to share his knowledge and hacks about the COBRA Program. The COBRA Insurance Law offers up company insurance for a short period to people who have been laid off. Ken shares why COBRA is notoriously expensive and recent updates to the program. Ken also shares timing tricks that you can use to greatly leverage the program to your benefit.

We made it. One whole year of hacking your net worth. On this anniversary, Ken decides it’s time refocus – zeroing in on the people he wants to help the most. Are you one of them? Listen and find out. We are in the midst of an unprecedented financial crisis. Ken has weathered his share of crisis, both personal and external, and wants to share with you what he’s learned, and what can be done. Listen in as he discusses 3 key principles of crisis management.

Now that Ken has shared with us his plan for retirement, it’s time to take a look at how he accrues funds for life events. You notice in this sheet, the portfolio is balanced 60% stocks and 40% bonds. It’s less risky than last week because these funds may be called into use much sooner. As always, your financial situation is unique to you and you may want to adjust this to suit your needs. Follow along as Ken explains his allocation using the provided Google Sheet: http://bit.ly/NWHLifeEvents

This podcast episode is merely the personal experiences and opinions of Ken Kaufman and not a guarantee of returns. Ken is not liable for any financial decisions you make as a result of this podcast. It is advised that you consult a certified financial adviser and be aware of the risk involved before entering the Stock Market.

It’s the 50th episode of the Net Worth Hacks Podcast and it’s a big one…Ken finally reveals what’s behind the curtain and shares with us his very own Retirement Investment Portfolio. Ken shares with us his overall investment plan and key decisions we make when investing. What balancing decisions should we make over the course of our lifetime? You definitely want to download the Google Sheet and follow along as Ken explains his asset allocation. To track along, click here: http://bit.ly/NWHPortfolio

This podcast episode is merely the personal experiences and opinions of Ken Kaufman and not a guarantee of returns. Ken is not liable for any financial decisions you make as a result of this podcast. It is advised that you consult a certified financial adviser and be aware of the risk involved before entering the Stock Market.

With “Tax Refund Season” just around the corner, Ken addresses what you should do with an unplanned influx of money. Whether it be a refund, bonus or inheritance, this blessing is something you don’t want to mishandle. Ken believes sitting on the money has great value in terms of creating perspective. Listen in as he explains what factors you should consider…and whose advice you should ignore.

Ken shares with us the first ever personal finance book he ever read. At 12-years old, the book was “The Richest Man in Babylon” by George Clason. Told in the setting of ancient Babylon, this book is an easy read and great for the whole family. Arkad, the Richest Man, shares with us the secrets to gathering wealth, many of the things Ken talks about every week! If you’re tired of the technical nitty gritty, this episode is a great introductory, easy listen.

Ken tackles the challenge of running a small business while growing your personal net worth. Small businesses blur the lines of investment of time and money to yield results. It’s important to understand your market rate, the amount of “sweat equity” and the cash you’re willing to put in. Ken addresses some foundational considerations you need to be aware of. He then goes on to answer a listener’s questions that inspired this episode.

Ken shares with us the secret to never missing a financial due date: Create a Financial Calendar. At the core of your financial plan, this calendar helps keep you on track, maintain your payments in a timely manner plus it keeps you aligned with your spouse and goals. You can do this either analog (paper) or digitally. Ken breaks down his recurring costs and how he tackles them. Listen in as Ken gives to you the tips and tools to develop and maintain this calendar.

We’ve reached the fifth and final episode in Ken’s Money & Marriage Series. The last component of building this metaphorical house is the labor – having the mental fortitude to act on this financial plan. Ken discusses the need to stick it out your plan and how the Fear of Missing Out can challenge this fortitude. Ken elaborates how envy, instant gratification and FOMO can challenge your plan and what mental processes you should lean into in order to be successful.

Now that we’ve discussed foundation and materials, its time to map out this metaphorical house using our blueprint. You marriage needs a common vision and goals or else where are you going? A financial plan is the key to success. Ken rattles off the numerous reasons why and addresses your fears. It’s easier to plan ahead rather than catch up; if you don’t have a plan, you’re just improvising. Finally, Ken outlines the components of your plan allowing you to get started.

Continuing the Marriage Series, Ken begins delving into alignment. Ken lays out 2 considerations when seeking alignment: take ownership as individuals and then align together. Ken explains how you can be your best self in service to your better half, and how together you can achieve your goals. Like tires on a car, you need to be of good quality individual tire and then align with your other half. Ken outlines how to improve alignment and what pitfalls you need to avoid. Last episode focused on literacy, this episode focuses on working in conjunction with your better half.

Continuing on from the last episode, Ken addresses the concept of Financial Literacy. The lack of literacy acts as an obstacle to financial-marital success; with literacy, you have the essential building materials for financial success. Ken offers some great insight on learning to live within your means and learning to save; Budgeting and how essential it is for your marriage. Debt and credit cards and “playing the game,” plus so much more. Finally, get Ken’s reading list that act as a great resource for attaining financial literacy. This episode is jam packed with valuable insights, be sure to tune in.

It’s the start of of the New Year; you and your spouse may have resolved to grow your net worth and find financial success for 2020 and beyond. Ken, along with his son and researcher Daniel, provide an overview of 4 key obstacles that the two of you may face when it comes to financial success and marriage. These challenges are: Lack of Financial Literacy, Lack of Alignment, Lack of a Comprehensive Plan, Lack of Commitment & Emotional Fortitude.

Back by popular demand, The Kaufman Kids share with you their decision to invest in the Stock Market. Find out why in 2020 you should invest as well. Two of Ken’s youngest are getting Roth IRAs in 2020, listen in to hear what they’ve invested in.

This podcast episode is merely the personal experiences and opinions of children and not a guarantee. These minors are not liable for any financial decisions you make as a result of this podcast. It is advised that you consult a certified financial adviser and be aware of the risk involved before entering the Stock Market. Besides, who would sue children?

Christmas is about spending time with the family, so the gang decided to hijack Ken’s podcast! In this short but adorable episode, the kids introduce themselves and talk about “their age of money.” These budget savvy kids share their ambitions for Legos, books and smoothies. Uncut for the sake of cuteness. Trust me, this is one you don’t wanna miss.

We have a financial plan; we’ve established a baseline and our end goal. With the groundwork laid, what we need to do now is chart and understand your income over the course of your lifetime. Don’t worry, it’s fairly easy and Ken will help walk you through it. There are two types of income you must consider: active and passive income. Ken discusses what both of these are and certain considerations you must take. It’s recommending you chart this out on a spreadsheet and update it annually or as needed.

Now that we have an understanding as to where we are (Ep. 36), we can look to the future and decide where we want to go. Ken recounts his own goals that he and his wife shared and how they began to evolve this plan to incorporate not only themselves but their children as well. Ken highlights why “dreaming” and planning is so beneficial. Listen in as Ken offers up some thought provoking questions as to what you want in life. With careful planning, just about anything is possible.

This episode, Ken begins step one of building out your financial plan. This first step is determining your current financial situation. You need to know where you are in order to understand where to go. This “status check” can be reflected in your net worth statement (ep. 9) and your cash statement. Gain a sense of your assets, debts and various other factors outlined in this episode. You may feel hesitant or embarrassed to air it all out, however reviewing your situation can create an incredible, calming sense of clarity as to what needs to be done.

With Thanksgiving happening this week, Ken reflects on how an attitude of gratitude is actually a crucial part of building your net worth. Ken recounts a time early on in his career where he made some poor decisions as a result of a lack of gratitude…including missing out on a $100K deal! Building net worth over the course of your lifetime is a long term discipline. It requires that you resist the temptation of instant gratification. Science proves that gratitude actually helps combat instant gratification; Ken shares a few tips on how to be grateful, including patience, contentment, and perspective.

Whoa whoa whoa! We need to pump the brakes here. After last week’s episode, Ken realized he jumped the gun when it comes to financial planning. Ken started talking logistics and failed to outline the importance of financial planning. This episode hopes to rectify that. Listen in for Ken’s top ten reasons why you need a financial plan.

Ken cuts it down to brass tacks. Now that you know the ropes for asset cultivation, it’s time to put together a game plan that will outline how you’ll accomplish your goal. A financial plan will reveal where you are on track and what short comings you may have. Ken breaks down the process and key elements of a financial plan. Where are you, what are your priorities, build out a plan centered around these points. Ken covers all the touch points of financial planning and how to construct one.

We made it. Our journey is at an end, having touched every point of Ken’s Cultivation Roadmap. Ken reviews in brief, every stop along the way, along with the corresponding podcast episode number. If you are brand new to the Net Worth Hacks Podcast, this episode is great for jumping in. If you hear of a topic that interests you, or maybe you decided that you haven’t fully grasped a concept, you are encouraged to go back and listen to the episodes referred in this episode. This episode also shows you the bigger picture with regards to asset cultivation, and shows you just how many ways there are to grow your net worth.

We’re back on the road reviewing Ken’s Cultivation Roadmap. This time, Ken takes the roadmap metaphor a step further discussing dollar cost averaging and gas prices. If you were to take a vow to drive cross-country and never pay over a certain amount for gas, you just might not ever reach your destination! Gas prices are out of your control and if you let it completely dictate your actions, you’ll have a tumultuous journey, the same can be said about your investment. That being said, people don’t have lump sums to invest, thus dollar cost averaging might be our only option. Listen as Ken explains the discipline of dollar cost averaging and how you should approach investments so you’re not stuck roadside calling AAA.

Ken hijacks the Cultivation Roadmap to take a quick sidebar about unplanned charity. Unplanned charity is tricky as it pulls directly on your heartstrings as opposed to an impulse purchase. You need to find that fine balance between generosity and managing your net worth. The solution for this is ridiculously simple: plan for the unplanned. Decide for yourself what % income or fixed amount you want to save monthly to go toward giving. Stick to that plan and stay on track.

In a change of pace, rather than talk about the technical aspects of handling money, Ken addresses the emotional aspect, particularly fear. Humans are hardwired to be fearful, as it is a survival instinct that allowed our species to survive. Recounting the old adage, “you miss 100% of the pitches you don’t swing at,” Ken dives into fears that often hinder asset cultivation. Balancing fear with well thought out decision making is critical. Ken offers these insights: Don’t make rash decisions. Don’t sit on the sidelines, get into the game. Get an adviser, and work with them, don’t just delegate to them. Do your own homework. Ignore the news, which is built around playing with your fears. Finally, disregard misleading bias.

This podcast episode is merely the personal experiences and opinions of Ken Kaufman and not a guarantee. Ken is not liable for any financial decisions you make as a result of this podcast. It is advised that you consult a certified financial adviser and be aware of the risk involved before entering the Stock Market.

Ken shares with you some of the stock market gaffs that he made in his youth. His inability to time the market resulted in missed opportunities and misfired picks. Ken discusses the lessons of stock volatility he learned. A stock can dramatically spike and correct itself in the course of 10 seconds. Timing the market is quite impossible; monkeys have better performance numbers then experts. Literally. In the wise words of Warren Buffett, the Oracle of Omaha, “Buy and Hold. That’s how you win.” Ignore the headlines, pick a strategy and stick to your guns. Ken explains how this works and how you should always have faith in the market.

This podcast episode is merely the personal experiences and opinions of Ken Kaufman and not a guarantee. Ken is not liable for any financial decisions you make as a result of this podcast. It is advised that you consult a certified financial adviser and be aware of the risk involved before entering the Stock Market.

The financial service industry is riddled with fees and expenses that hurt the individual investor. Today’s episode is simple, Ken will create awareness of a majority of these expenses that can erode away your lifetime earnings. Getting hypothetical, Ken talks about how a 1% fee could cost you $600,000 over the course of your lifetime. Do we have your attention now? Ken covers all the fees that you will come across, and which ones you should be wary off. Tired of the fine print and obscure fees? This episode for you.

Ken explores the concepts of passive and active management. What are the assets in your life that should be actively managed as to not go into disarray? Things that you should actively manage include your business, time, money, family relationships as well as a few others. Dan Sullivan once said human creativity, innovation and leadership can not be commoditized – hurrah for active management! However, active management doesn’t have a place in investment portfolios. People who try to beat the market generally don’t win over time. The market is volatile, thus portfolio diversification and passive investment is ideal. Tune in to learn more!

This is merely Ken’s personal opinion and is not to be considered investment advice or a guarantee. Please consult a registered financial adviser and be aware of the risk involved before entering the Stock Market.

When you grow old, you hope one of your children will step up and take care of you, right? Ken didn’t want to take his chances so he went ahead and had eight! In all seriousness, the value of diversification can’t be understated. Diversification is all about risk management, putting your eggs in different baskets. Ken provides some eye opening insights about the markets and how betting on a single horse could be detrimental. It’s important to understand all the sub-asset classes available to you, either growth-oriented or value-oriented, domestic or international, and the list goes on. Ken covers this variety available to you as well as some other considerations when diversifying your portfolio.

Continuing down the roadmap, Ken further discusses cultivating assets. There are different kinds of asset classes that you can look to invest in: Cash (or Cash Equivalent), Bonds, and Stocks (Equity). Exploring these different fields require an understanding of risk and what is called a “glide path.” Understanding your target date for retirement as well as your age factors into this glide path model, which outlines the amount of investment risk you take over the course of your life. Younger investors typically take on more risk, while those nearing retirement typically take minimal risk. Take a listen to this episode to understand where you should consider allocating your assets.

So you’ve begun saving for the common scenarios of your day to day life. You’ve accumulated cash to cover credit card float, living expenses and anticipated costs or emergencies. What about the long term? Say tuition costs or even retirement? When looking to the future to save for these types of expenses that are 10 to 40 years down the road you must factor two things: Investment Objective and Tolerance for Risk. Ken dives into these concepts and where best to place your assets depending on these factors.

Moving on to Part II of Cultivating Assets, Ken focuses his attention on saving for non-routine events in your life. Have you ever had a car break down or an untimely birthday expense? What about a medical emergency? Ken shares how you can tackle all of these types of problems in three different types of savings plans: Goal-Per-Month, Balance By a Specific Date, and a Balance Goal. You will be amazed of the logic behind these easy to manage savings plans that will weather any disaster. It’s far more targeted then that of a generic “Emergency Fund” and allows cash to accumulate in a sensible way.

Circling back to the IMPACT model, Ken begins the Iteration Process (a roadmap) in order to start Cultivating Assets. Cultivating assets always starts with learning to save; Every dollar that you make and do not spend, is an asset. Ken discusses percent allocation of income and the best approach. Ken walks you through his roadmap including misconceptions about so-called emergency funds and addressing credit card debt. He discusses accumulating cash and creating a sense of security so you no longer feel the stress of living paycheck to paycheck. Ken covers all this and so much more.

It’s a milestone episode of the Networks Hacks Podcast. Grateful for the community engagement, Ken tackles some of the questions from NWH Listeners. This week, Ken provides some thought provoking insight regarding finding the right financial advisor. There’s no reason to take advice from people you wouldn’t trade places with. It’s also incredibly helpful that they have similar values, similar experiences as you. How do they value things like children, aging parents, religion, or education – things that could pertain to you? Ken also covers some critical logistics that you should be aware of when interviewing advisors. Finally, Ken outlines what your working relationship with your advisor should look like.

Ken reveals the results of his latest online poll. Where do most people bank? Credit Unions? Traditional Brick and Mortar? Online? Ken explores how online banks are changing the financial landscape, offering better benefits and less antics than traditional banks. He shares his experiences with top online banks, one disappointing him, another impressing him. He explores the benefits and drawbacks of online banking. Overall, online banking is the way to go moving forward, listen in to learn why.

Building off of last week’s episode, Ken discusses how his son had virtually no credit history and was considered off the grid to creditors when he turned 18. This posed a challenge for Ken; how can you apply for a credit card if you don’t have credit? Ken found the solution: secured credit cards. Ken discusses the difference between secured and unsecured debt. Ken then walks you through how this secured credit card works and the best attributes that a secured credit card should have.

Ken shares how his son, who was serving an extended mission with the church, hadn’t accumulated hardly any credit history. This inspired Ken to seek ways to help develop good credit for his children in this increasingly credit-dependent society. Cash buying is a thing of the past, with demands for car loans and mortgages being commonplace. Ken covers the basics of credit reporting, and what you can do for your children and their credit score. It’s imperative that you teach your children how to use credit responsibly. Ken shares what concepts you should cover with your children.

In today’s episode, Ken answers many of the common questions that come with selecting your credit card. Which credit card is right for you? How do you leverage rewards? Are annual fees ever a good idea? Travel points or cashback? Ken shares what credit card strategies provide the most bang for your buck. It is imperative to find that credit card that doesn’t consume or impede on your lifestyle. This episode will help you find that credit card.

How well do you understand your FICO credit score? Did you know that if you have a high utilization on a card, your credit score is lowered even if you pay it off right away? Ken shares with you how credit card companies operate and what information is sent to credit agencies. Ken teaches you the math behind credit score and how to hack it. Ken shares his payment schedule and how he “games” the statement cycle.

In this week’s episode, Ken revisits the IMPACT model and discusses how it applies to the combined finances in marriage. It is imperative that you and your partner create alignment around your finances and seek out the whole picture. If you have a personal goal, pursue it! But be sure to be transparent with one another and adjust accordingly. Learn about “financial infidelity” and how you should be wary of it. Ken then discusses his own marriage and the valuable financial lessons he’s learned.

Have you ever thought about cutting credit cards out of your life? Seems like a good idea, right? You increase visibility on your finances, avoid interest rates and reduce stress. According to Ken, it turns out that this may not be the case. Ken shares his story of a year long freeze on credit cards and the anxiety that came along with it. Ken shares what he learned including the reality of his supposedly managed debt. Ken shares the way to “respect the credit card debt” and how he manages to utilize credit cards to the fullest without the stress of looming incurred debt.

Ken shares how his family greatly impacted his desire to build his net worth and plan his financial future. Children are expensive and they all have life events that require money such as college or weddings. Plus there are events that Ken wanted to share with his wife as well. So how do you account for and manage all these expenses? Factoring in details such as how much is needed, how soon is it needed and how will the money grow overtime, Ken discusses building a dynamic model to help forecast and overcome these hurdles.

What is the most important priority of all? Before Ken reveals the magic answer Ken provides some key steps to arrive to this point: Determine all your priorities, take the time to allocate the cash into those priorities and finally hold yourself accountable. In determining your priorities, Ken swears by the value of budgeting apps and actually going through the activity of giving every dollar a job. Finally, Ken reveals the Most Important Priority of All…listen to find out!

Today, Ken tackles the idea of budgeting. For some, budgeting spurns negative emotions, when in fact it can be an empowering concept. Ken shares his experiences sharing the idea to budgeting with his wife and how her worldview was not the same as his. To some budgeting seems natural and essential, to others it seems evil and restrictive. Ken found that reframing the concept of “budgeting” to “prioritization” was the best way to overcome the negative associations of budgeting. Ken shares how to iterate your mindset regarding budgeting; He discusses the myths surrounding budgeting, clearing up some misconceptions. Budgeting, if done right, can actually be empowering and not at all a bad thing.

Now that you understand the IMPACT Model (ep. 3-8) and how to improve your net worth, it’s important to understand and track it. In simple terms, your net worth is assets minus liabilities. Ken goes on to explain the reason why we as individuals measure net worth is because it is the sum total of all of our life’s financial activity. It is a clear summation of your financial situation without all the noise of transactions, credit cards, loans and so forth. It allows you to measure your progress. In this episode, Ken helps you calculate that bottom line number, and understand what areas to look at. How often should you check your net worth? What is the best way to track this number? Ken talks about all this and more.

We made it, the final letter in the IMPACT Acronym: T – Terminate Debt. Much like cultivating assets, terminating debt directly impacts your net worth. For every dollar you pay towards paying down your debt, your net worth increases by that same amount. In addition, as you pay down your debt, your risk is mitigated. Debt magnifies financial outcomes, either for better or worse. Ken uses examples of real estate and graduate degrees as a means to explain this magnification as well as the risk and reward of debt.

Ken discusses how the first four letters in IMPACT set you up for the last two: Cultivating your Assets (letter C), Terminating your Debt (letter T) or both simultaneously. Then Ken goes on to discuss cultivating your assets. First and foremost, it is important to understand that your first asset is yourself. You must be willing to invest in yourself such as going beck to school or growing your skill sets. Moving from there it’s important to look to all aspects of your life and determine what exactly are your assets? Could be things such as your savings or even your car. Ken discusses ways to cultivate these assets, whether it be by doing it yourself or relying on others. Finally, Ken discusses how it’s critical you understand the risk of any investment and finding that balance between growth and risk exposure.

How do you align with your partner when it comes to money? On this week’s episode, Ken discusses the A in IMPACT, Align Partner and Waterfall. To empathize partner alignment, Ken recounts the first time he rented an apartment after college and how he needed to account for his fiancee. As the two began a family, Ken began to learn about partner alignment and how it is critical for success. Ken then discusses his survey regarding alignment among partners, giving his insight into the findings. Ken also responds to some surprising comments provided by the sample group.

On this week’s episode, Ken discusses the letter P in IMPACT. The letter P stands for Prioritize the Waterfall. Ken discusses the metaphorical waterfall and what it means in the business world and how it applies to your income. A cascading waterfall fills up pools of water as it trickles downward. Learn how handling your income is much of the same. Your income is the waterfall and it’s critical that you understand what that first pool of water is that needs to be filled up before any money can go anywhere else. Finally, Ken talks about how if you want to build your net worth, you must re-prioritize your waterfall to meet that goal.

On this week’s episode, Ken discusses the letter M in IMPACT which stands for Maximize Income and Joy. Ken shares another anecdote from his youth, this time his first ever job as a Little League Umpire. Using his umpire income as a tool, Ken explains income concepts including time constraints, valuation, as well as active and passive income. Ken goes on to discuss the benefits and setbacks of these two forms of income. Taking it a step further, Ken discusses how you must also find joy when maximizing this income.

On this week’s episode, Ken dives into the I in IMPACT. I is for Iterate Mindset and Process. Ken shares a story from his college days where he learns the value of iterating from a tough-but-fair entrepreneur professor who tore intro his business plans weekly. Ken shares how he learned the value of finding that balance between being hungry for progress and content with your steady growth. Always strive to improve but don’t beat yourself up. Another mindset that is critical to avoid is paralysis by analysis. Once you’ve iterated your mind it’s time to iterate your process. Ken dives into all of this and more on this week’s episode. Every journey starts with a first step, or in this case the first letter!

On this week’s episode of Net Worth Hacks, Ken Kaufman recounts his journey into the world of finance and net worth. Then Ken introduces you to the 6 key principles that act as the guidepost to achieving net worth success. Learn about these six principles using the acronym IMPACT: Iterate, Maximize, Prioritize, Align, Cultivate, Terminate.

It’s the premiere episode of Net Worth Hacks! Join Ken Kaufman as he provides valuable insight regarding your net worth and why you should be tracking it. Likening your income to a precious resource, Ken discusses the draining factors that are diminishing your net worth.