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Apache is functioning normally

May 25, 2023 by Brett Tams

Are you wondering about how much you’re going to need saved for when you retire?

It’s a common question that a lot of people have, young and old. Some of the more common variations that I get on this question are, What is the amount of income that I’m going to need in retirement? or, How do I figure out what my retirement income needs are going to be?

It’s a tough question, but the toughest part about answering it is that there is no clear cut answer. There is no universal formula, some general mathematical rule of thumb, or some magic number that you need.

Your retirement income needed all depends on your unique situation.

And that is what makes financial planning an ongoing process. It’s not just a one time, quick, snap-shot solution where, “Okay, bam! This is how much money you’re going to need and you’re all good.” Here are a couple of the different items that you need to consider when you’re trying to figure out what your retirement income needs are going to be.

Pay Your Bills

First and foremost, you have to figure out what are your needs are, meaning how much do you need each month to pay the bills? How much do you need to take care of your health insurance or if you still have a house payment, if you still have debt, if you want to do vacations? It all comes down to trying to identify that. That’s tough for a lot of people, because a lot of us do not budget. A lot of us don’t have a good sense of knowing exactly where our money is going each month. If you don’t have a good handle on your budget, then trying to identify your income need is almost impossible.

How do you do it? You can try to shoot from the hip, which a lot of my clients try to do. But I make them go home, sit down and start looking at where all their money is going per month. What are the things that they have to have each month to buy? Without doing that inventory, without doing that research into their own lives, it makes it tremendously difficult to try to figure out what their retirement-income needs are going to be. That is the first step and, I assure you it’s probably the hardest because a lot of people don’t do it. They just don’t take the time to figure that out.

Show Me What You’re Working With

The second step is that you have to figure out what you’ve got to work with:

How much have you saved?
How much do you have in your 401K?
How close are you to receiving social security?
Do you have any pensions?

All those factors come into play when trying to identify what your retirement-income needs are going to be. For example, I have clients who actually go back and figure out what their income need is as far as paying the monthly bills and having a little extra to play and do the things that they want to do, so that gives us a sense of where we need to be. Then we take a look at what they’ve got.

Have they retired early?

I have some clients who retire at 55, 58, 60 so there is a little bit more pressure on their retirement assets, their 401Ks, their pensions to be able to get them that retirement income. We don’t have social security to lean on, so that requires a little bit more creativity. I have other clients who retire after social security age. Some take early retirement at 62, or some continue to work until they are 65 (or 66). When we have that extra paycheck coming in per month, that gives us a little more freedom and flexibility to try to decipher what the income might be.

That’s why it’s so tough. It’s not a clear cut answer. You hear a lot of general rule of thumb where whatever 70%-80% of your current income in your working years is how much you’re going to need in your retirement years. Sometimes that is the case, but sometimes it’s not. Going back to the income needs, what about health insurance? Is that something that you’re going to have, or are you already on Medicare so it’s not that much of an issue? There are a lot of factors like that that come into play.

Let’s Be Real

The other thing is just being realistic as far as your spending expectations. I have some clients who come to me, and we do all this planning to where we’ve got everything lined up. We’ve identified their needs. We have all their retirement information together, so we’ve identified how much they are going to be drawing out per month. Then a few months into it, they get a little spend happy, and they start wanting to buy things, buy “toys”, do this, take trips.

All of a sudden, they are causing a strain on their retirement portfolio, so we have to have a come-to-Jesus meeting and I address the issue,

“Hey, this was the plan when we first started, now why are we deviating? Why are we all of a sudden buying things that initially weren’t on our plan?”

You just have to be very conscious of that. I don’t want my clients to think they can’t spend their money. It is their money. They worked their whole life to have that, but you have to be careful. You have to be cautious and just be very aware of how much you’re spending and how fast you’re spending it.

One of the most important components of creating a retirement plan is having an accurate evaluation of yourself and just knowing your habits, and how things may be as soon as retirement comes.

Retirement: The Early Years

Going back to that rule of thumb as far as the 70%-80%, typically what I’ve seen is this: In the first couple years of retirement, it’s like the kid who has been stuck in class all day long and it’s sunny outside. They’ve been looking at the playground. They can see the sun. They see the jungle gyms. They’re ready to be set loose, and they want to go play and be free.

That’s what it’s like for many of my retiree clients: once they hit retirement, they’re like that kid who’s been set free. They’re out on recess. They get to play, get to do these things they’ve been waiting to do for so long. They’re ready to go. They’re ready to play and have fun, so those first couple of years they’ll spend a little bit more doing the trips that they want to do, buying the toys that they’ve put off for so many years. Now they feel that they’re entitled to do that, and they are, so let them do it.

Then as they get older, as maybe health conditions don’t allow them to do the travel as they did when they first retired, they’ll tend to spend a lot less than they did in their first years. Whereas the first couple of years maybe you do fall in that rule of thumb of spending the 70%-80% of your working-years’ income, but after a certain point you don’t travel as much because you’ve done everything you wanted to do and are just content to stay around home spending time with the grandkids and just doing a lot of staycations where you’re just enjoying that time with your family. Thus, you’re not spending nearly as much, and it kind of balances out.

Get Your Best Retirement Income Possible

Those are some of the steps that you need to do in the beginning as far as first, identify what you’re actually going to need per month to live off of, to spend, to do the things that you have to do just to get by. Then, you’re going to need to identify what you’ve got to work with, with your 401K and your savings and pensions and when social security is going to play in. Then finally, you just have to know yourself and know your spending habits and how that’s going to affect your income in your retirement years.

Source: goodfinancialcents.com

Apache is functioning normally

May 25, 2023 by Brett Tams

The Complete Guide to Teaching Kids About Money – MintLife Blog

$400 emergency, and a third have saved nothing for retirement. Meanwhile, more than 60 percent of young adults under 34 say that thinking about their personal finances makes them anxious.

In many cases, these young adults feel anxious about their finances because they never learned about money growing up. Fewer than 20 states require high school students to take personal finance classes, even as studies show that young Americans want to learn about money and wish they had learned to be more financially savvy in school.

That’s where you come in. Giving your kids real-world lessons at home on how to manage their finances will go a long way toward helping them stockpile plenty of savings, stay out of debt and maintain healthy credit scores.

Read on to learn the critical money lessons you should teach your kids at every age, from their toddler years to their teen years.

Table of Contents

Start With Yourself: Be a Good Example

Smoking. Drugs. Bullying. All of these are topics that parents say they would rather discuss with their kids than the family’s finances.

Maybe you have struggled with using money responsibly in the past. Maybe you don’t want to tell your kids how much you make or reveal that you’re in debt. But it’s important that you become comfortable with talking to your kids about money so that they become comfortable using it.

Brush Up on Basic Financial Concepts

Pop quiz! If you take out a loan for $1,000 with a 20 percent interest rate, how much will you owe per year in interest?

The answer is $200. Did you know that? If not, you’re like almost two-thirds of Americans who have trouble calculating interest rates.

Take some time to brush up on basic financial concepts. Make sure you understand these topics inside and out so that you can answer your kids’ questions and provide the most well-rounded lessons possible.

Get Out of Debt

Every good lesson in using money responsibly starts with reducing or eliminating debt. More than family’s finances and get on the same page. This way, you can better understand your family’s financial goals and communicate them with your kids.

It’s also helpful to write down your family’s financial goals and display them in a prominent place in the home. For example, if your family wants to go on vacation later in the year, you could post that goal on the refrigerator to remind everyone why the family is saving.

Protect Your Kids

Another important component of putting your kids on the best financial track possible is thinking about what would happen if you could no longer take care of them.

Even though most Americans have life insurance, a good chunk do not have enough coverage. About half of Americans have $100,000 or less in coverage. It’s recommended that you have coverage equal to at least 10 times your salary. With kids, that multiplier should typically be even higher.

Also, make sure you have a will to ensure that your assets are properly divided and that your kids are cared for should something happen to you.

Younger Than 3

At this age, your kids likely just learned how to throw a ball overhand or to scribble freely on paper. They have no idea what money is or how it works — but that doesn’t mean you can’t introduce them to some basic money concepts.

Allow them to play with coins. Play store to introduce them to the concept of a marketplace. Even allow them to watch you pay bills. This helps them understand that money has a value and that items vary in cost.

Coin Identification Game

Show your toddlers different types of coins. Allow them to trace the outlines of the coins onto a piece of paper. As you color in the shapes that you traced, help them to match the coins to the drawings and repeat the coins’ names.

Coins are more fun for toddlers to play with than paper money, but you can also draw dollar bills and color those in to include in your toddlers’ homemade “wallets.”

The Play Store

Using the pretend money that you created from the coin identification game, gather a bunch of household items and allow your toddler to exchange the money for the items.

Kids already love playing store for the fun of it, but take this opportunity to show them that different items require different types of pretend money. For a twist on the traditional game, decorate price tags and attach them to the items.

Toy Calculator and Checkbook

Toddlers are always watching you, so why not use that to help them learn about money? When you’re paying bills with your checkbook and calculator, let them know that you’re buying things just like they do when they play store.

For even more fun for your toddlers, give them their own “checkbook” and calculator to play with while they watch you.

Ages 3 to 5

By kindergarten and pre-kindergarten, your kids have already seen you give something green to the pizza delivery driver or put down a piece of plastic on the table at the end of your dinner at a restaurant.

It’s your job to answer their questions and explain to them that they need money to buy things. As they reach school age, you can even allow them to manage a little bit of money on their own by way of allowances.

It’s up to you whether the allowance should be earned or given, but the important thing here is to teach your kids to save and to help them understand that they may need to wait before they can buy something.

Saving, Spending, and Sharing Jars

Gather three clear jars and ask your kids to decorate labels with “saving,” “spending,” and “sharing” for the jars. Piggy banks are great, but you can’t see what you’re putting in them, and you want your kids to be able to see the progress they’re making!

Explain that everything costs money. The money in the “spending” jar can be used today to buy anything your kids want within reason. If they want something that is more expensive, they will have to wait until their “saving” jar has enough money in it.

You can also encourage your children to put a couple of coins or a dollar bill or two in the “sharing” jar, and help them think of charities for the money.

Needs vs. Wants Shopping

Let’s say your kids want a $10 stuffed animal. Help them count out $10 from their jars. Have them take the $10 to the store and hand the coins and bills to the cashier. Allow them to see how much money is left in the jars, and explain to them that if they spend money this time, they’ll have to wait a little bit before they can buy something again.

If they don’t have enough money in the jars, help them understand how much they have and how long it will take to save enough for the stuffed animal given their current savings rate.

Imaginary Restaurant

What kids don’t like to play restaurant? At the end of the game, remind them that they can’t leave the table without “paying” the bill.

This is also a good opportunity to introduce your kids to the relative value of coins and bills. Show them that one-dollar bill equals ten dimes or four quarters.

Ages 6 to 10

While teaching kids about money is critical at every age, this age group is especially important. Researchers believe that kids’ money habits are formed by the time they turn seven.

Give them a firm foundation in protecting their money in savings accounts (and earning interest), shopping around for the best deals and understanding the different ways that money can be spent or shared.

Opening a Savings Account

Take your kids with you to the bank. Explain to them that putting your money in a bank is better than stockpiling money at home because a bank protects your money and pays you interest.

Explain that the bank pays you interest as a reward for keeping your money in that bank, instead of at another bank. Also, explain that interest is a cool concept because it keeps growing the longer you keep your money in the bank.

You can illustrate this concept by asking your kids to set aside $1 from their allowance. Tell them you’ll act like the bank and pay them 10 percent, or a dime, in interest for this $1. They’ll now have $1.10. Explain to your kids that you’ll pay interest on this $1.10 in a month and that they’ll receive 11 cents instead of just a dime. Allow them to see how interest keeps adding up!

Coupons and Comparing Prices

It’s surprising how much your kids can learn about money at the grocery store! If you use coupons, ask your children to help you clip them and identify the corresponding products at the store. Make sure they watch as the cashier scans the coupons and shaves dollars off your bill.

Additionally, look closely at the unit prices of products. Ask your kids to help you determine which products offer a better deal (a lower price per ounce, for example). This is also a good opportunity for your kids to practice their basic math skills.

Career Exploration

It’s important for kids to know that money is not just spent on physical goods, like food and toys. Explain to them that money is also spent on services, like labor. This is a good time for you to tell them what you do to make money and encourage them to start thinking about what they might want to do when they grow up.

Charitable Giving

Since many of your kids’ money habits will be formed during this time, make sure to explain the importance of giving back to their communities and to those in need. You’ll want to tell your kids that they are part of a larger community and that everyone in the community is responsible for those around them. This includes a responsibility to give your time and some of your money to community causes.

Help them connect with a cause they might care about, like a local animal shelter that rescues stray cats or an environmental group that plants trees in the local park and explain that they can give some of their money to help others. Helping them to understand that not everyone has the money they need will help them appreciate their money and grow to be more giving adults.

Ages 11 to 13

Your kids have already opened savings accounts and have seen how money seems to show up out of nowhere. It’s time to explain how compound interest works and explore other places to store your money. They also can begin to learn more about the worth of objects around them.

Exploring Compound Interest

Finally! You get to share the wonders of compound interest with your kids. Play around with a couple of classic examples that show that savings can really add up, but only if you start saving early.

For example, if they save $100 every year starting at 14, they’ll have $23,000 when they’re 65, but only $7,000 if they start saving when they’re 35.

Encourage them to play with an online compound interest calculator that allows them to input the specifics of their bank accounts and play around with different time periods and interest rates.

Investment Games

Show your kids that you can store your money in other ways that could make you more money than a traditional savings account. However, be careful to warn about the risks of losing more as well.

Have your kids pick out a couple stocks that relate to their favorite hobbies. Track how the stocks perform every week for a given amount of time and award a prize (maybe a pizza dinner or a movie night) to the winner.

Yard Sales

Your kids should have a pretty good grasp on how to value different objects already, but allow them to develop these skills even further with a yard sale (and clean out your basement in the meantime).

Put them in charge of planning the yard sale, finding things to sell, setting the prices, and interacting with customers.

Ages 14 to 18

By this point, you’ve helped your kids learn about money for more than a decade. Now it’s time for them to start working and thinking about college before they eventually go off on their own.

Be prepared to answer many questions during this time, as there are many essential financial You’ll need to cover everything from paychecks to checking accounts, credit cards, and social security.

Breaking Down the Paycheck

As your kids earn their first paychecks, they might not like what they see. The total might not match the amount they had banked on earning. Now’s a good time to explain taxes.

Explain the different types of taxes to them and show them where the taxes go, whether it’s to Social Security or Medicare or elsewhere. Also emphasize the importance of saving and encourage them to open an individual retirement account.

Perhaps your daughter or son will want to make some extra cash. Encourage them to be resourceful and help them look for opportunities like babysitting or selling old clothes.

Debit Cards

Before your kids head off to college and eventually open their own checking accounts, they might want some practice at home. Consider opening a joint account with your kids to give them access to a bit of money. You can monitor their spending using online apps and ensure that they’re making healthy financial decisions.

Their names can also be on the checks associated with the account. Take this opportunity to teach them about writing checks and balancing checkbooks.

Credit Cards

Kids can’t enter into legally binding contracts, such as credit card agreements until they are 18. One way around this is to add your kids as authorized cardholders under certain circumstances.

Whether or not you give your kids access to your credit cards at this point, you must teach them to use credit cards responsibly. Explain that they should use a credit card only if they can pay off the monthly payment in full. Talk about the dangers of debt and how missed payments decrease credit scores and make it harder to secure loans.

Finally, stress the importance of exercising caution and avoiding suspicious websites when entering your credit card number online.

Social Security Numbers

It’s likely your kids will be asked repeatedly for the last four digits of their social security numbers. Make sure they memorize all of the digits before they go off to college so that they’re not caught off guard.

Every parent wants their kids to be financially healthy — to have plenty of savings, know how to budget, and avoid the troubles that come with bad credit. But your kids won’t know how to be savvy with money on their own. Take the time to teach them good tips at every age and set them up for success.

Additional Resources

Find games, activities, and information about money for kids at MyMoney.gov.
Follow the FDIC’s Money Smart for Young People lesson plans.
Explore the U.S. Securities and Exchange Commission’s Compound Interest Calculator.
Learn how to explain taxes to kids at USA.gov.
Investigate different types of coins and learn more about the U.S. Mint.

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Apache is functioning normally

May 25, 2023 by Brett Tams

A group of students stand attention after physical training exercises for the Army.

Students in the new Army prep course stand at attention after physical training exercises at Fort Jackson in Columbia, S.C., Aug. 27, 2022. The U.S. Army will pay up to $50,000 to recruits who qualify and sign on for a six-year active-duty enlistment. Sean Rayford/AP Photo

Uncle Sam wants you, and he’s willing to pay you a good chunk of cash.

The U.S. Army announced that it will pay up to $50,000 – its largest bonus ever – to recruits who qualify and sign on for a six-year active-duty enlistment. The bonus package is based on a number of factors that include the selected career field, individual qualifications, length of the contract and the ship date for training.

“This is an opportunity to entice folks to consider the Army,” said Brig. Gen. John Cushing in a press release.

Since 2020, the Army has struggled, just like the private sector, in attracting talent, and officials hope the incentives coupled with some other changes will begin to draw qualified young people.

“We are still living the implications of 2020 and the onset of COVID, when the school systems basically shut down,” Maj. Gen. Kevin Vereen, head of Army Recruiting Command, told the Associated Press. “We lost a full class of young men and women that we didn’t have contact with, face-to-face.”

Here’s how the new incentives work.

How to Score Up to $50K in Army Signing Bonuses

The career-based incentives range from $1,000 to $40,000 depending on the field. The more difficult-to-hire positions will offer a higher bonus. Occupations can range from well-known careers, like infantry and Special Forces, to lesser known, such as radar repairers, signal support systems specialists and motor transport operators.

The Army is also offering “quick ship” bonuses – which increased to $40,000 in 2022 – for recruits who can go to Basic Training within 30 days. The sooner the recruit can leave, the more cash he or she will receive.

Going to Airborne Training can bring $10,000 and Ranger Training can bring up to $20,000. Foreign language skills can bring in as much as $40,000 in specific career paths.

A combination of all these incentives will bring the largest bonuses into play.

“For example, a six-year enlistment as an air and missile defense crewmember starts with $40,000. Right now, that occupation also qualifies for a $9,000 critical accession bonus,” the Army said in its press release. “If the individual decides to ship to training within the next 30 days, the addition of a quick-ship bonus would get the recruit to the maximum amount.”

The Army is also promoting other new changes to attract talent: shorter, two-year enlistments for 84 different career fields and the opportunity for recruits to pick their duty station.

“We know this generation likes to have the opportunity to make their own decisions, so now they can choose where they want to be assigned after training,” Vereen said. “…Many people are apprehensive about long-term commitments right now, so we think having a shorter option will help give them some time to see if the Army fits their life and goals.”

Robert Bruce is a senior staff writer at The Penny Hoarder covering earning, saving and managing money. He has written about personal finance for more than a decade.

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Source: thepennyhoarder.com

Apache is functioning normally

May 25, 2023 by Brett Tams

If you’re shopping for an online bank with a variety of products, no monthly service fees, and interest earning checking accounts, Quontic Bank delivers. Our Quontic review evaluates the variety of checking and savings accounts.

Plus, we will explore the bank’s history, from a brick-and-mortar bank with New York City branch offices to an online only bank serving consumers in all 50 states. Which Quontic products are right for you?

Quontic Bank Overview

Quontic originated in 2009 as a local bank in New York City, with a mission to serve underbanked and unbanked populations. In 2015, the U.S. Treasury deemed Quontic a Community Development Financial Institution, an honor held by only 3% of all U.S. banks.

As the only all-digital CDFI bank in the U.S., Quontic provides a variety of mortgage products to members in under-served communities across the country.

Quontic differs from many other fintechs or neobanks in several ways.

Originated as a community bank
Dedicated to serving under- and unbanked groups as a CDFI member
Offers a Bitcoin rewards account
Has a virtual location in the metaverse
Provides a wearable payment device for digital transactions

If these features pique your attention, continue reading our Quontic Review for all the details. Quontic also receives high marks from across the Web. It was placed on the Forbes Advisor list of Best Online Banks for 2023, and earned a rating of 4.5 stars or higher from top personal finance websites.

Get started with Quontic

on Quontic’s secure website

Quontic Locations and Rewards

Quontic no longer has real-world branch locations. However, it’s one of few banks with a virtual branch in the Decentraland outpost of the metaverse. Users can access the virtual branch without a VR headset, interact with Quontic employees, earn NFTs, explore products, and more – all as an exclusive, custom avatar.

In addition to its virtual presence, Quontic is accessible online or through the mobile app. It no longer has a New York City branch.

Quontic offers its customers rewards on its checking account and Bitcoin rewards checking account. The online bank also offers a high interest checking account of up to 1.1% APY and high interest savings products, as well.

Quontic Bank Savings Overview

Quontic offers three different savings products:

High yield savings
Money market account
Certificates of Deposit

Interest rates are higher than the national average for all savings products, with no monthly fees. All accounts are FDIC insured up to $250,000 per account holder, per account ownership category.

Which of the savings accounts are best for you? Let’s compare.

Quontic Bank Savings Account Review

The Quontic High Yield Savings account currently offers 4.25% APY on all balance tiers. Interest is compounded daily, so your money can grow faster.

You’ll pay no monthly maintenance fees and no overdraft fees should your savings account go into the negative. However, if you make more than 6 transactions per month, you’ll pay a $10 excess transaction fee for each transfer, check, draft, debit, or similar transaction.

The high yield savings account requires a $100 minimum deposit to open the account. You can fund the account from an existing Quontic account, or via ACH from another bank.

Earnings from a Quontic High Yield Savings vs. a Traditional Savings Accounts

A Quontic savings account offers a hefty 4.25% annual percentage yield to customers right now. The average U.S. savings account right now offers just 0.39%. This national average includes rates from high yield savings accounts like Quontic. Traditional banks typically offer much lower interest rates.

For instance, right now, Chase Bank offers just 0.01% APY, with interest compounded monthly. Interest earned on your Quontic account is compounded daily, which means your money can grow even faster.

APY vs. APR

It’s easy to see that 4.25% is a much larger number than 0.01%. But when there’s less of a gap in the interest rate, you’ll want to compare the APY (Annual Percentage Yield) instead of the APR (Annual Percentage Rate).

Two banks with the same APR will have a different Annual Percentage Yield if one compounds interest daily and the other compounds interest monthly.

Quontic Bank CD Accounts

Quontic Bank offers certificates of deposit in a variety of terms, with yields as high as 4.75% APY. As with other Quontic deposit accounts, money held in CDs is FDIC insured.

CD account rates and terms are as follows:

6 months: 3.75% APY
24 months: 4.4% APY
3 years or 5 years: 4.3% APY

CDs require a minimum deposit of $500 to open, which is half of what many other online banks with similar CD interest rates require. Quontic indicates that withdrawals before the CD matures may be subject to penalties.

Compare CD Rates

Let’s compare CD rates between Quontic and other top-rated online banks with certificates of deposit for similar terms.

Capital One 360, the online and mobile banking option from Capital One, offers CDs with terms ranging from 6 months to 60 months, or five years. The 60-month CD has an APY of 4.1%, putting it slightly behind Quontic’s offerings. However, the two banks have comparable 36-month CDs, both with APYs of 4.3%.

CIT Bank, a renowned online bank, caters to a wide range of customers with competitive savings products and a focus on long-term financial growth.

CIT Bank requires a minimum deposit of only $1,000 for CDs, comparable to Quontic. It offers terms from 6 months to 5 years. However, the APY is notably higher than Quontic’s, reaching up to 5.00% for select terms.

Quontic Money Market Account

If you want high interest rates combined with the flexibility to withdraw your money without fees or penalties, consider a Quontic Bank money market account.

This account compares favorably to other money market accounts when it comes to interest rates, offering a higher APY than top-ranked TIAA, Ally Bank, and Discover Bank, all rated as the best money market accounts by Crediful. The Quontic money market account also has a low minimum deposit of just $100. Once you’ve opened the account, there’s no minimum balance requirement.

This account delivers competitive rates with an APY of 4.75%, with no monthly maintenance fees.

The drawback? You are only allowed six transfers or withdrawals per statement cycle. This may feel limiting, but it can help you remain disciplined in your saving and also save you money on excess transaction fees you might experience with a regular Quontic high yield savings account.

Compare Savings Accounts

If you’re looking to earn the highest interest rate at Quontic, have at least $500 to invest, and don’t mind keeping your money tied up for six months or more, consider parking your cash in a Quontic CD.

Otherwise, you can choose between a high APY of 4.25% with a high yield savings account, or 4.75% with a money market account. If you feel you can be disciplined enough to avoid excess transaction fees, a high yield savings account is the clear winner for competitive rates.

Both the money market account and savings account have no monthly fees and a $100 minimum deposit. Both accounts also come with a Quontic debit card that you can use for purchases online and in stores, or to withdraw money at any of 90,000+ surcharge free ATMs across the U.S.

Quontic Bank Checking Accounts Overview

As a digital bank that focuses on underserved communities, Quontic Bank offers checking accounts that require no credit check to open, no monthly fees, and a low minimum opening deposit. If you’re looking for high interest checking accounts or rewards checking accounts, Quontic Bank has three checking accounts to choose from.

High interest checking account
Bitcoin Rewards checking account
Cash Rewards checking account

Which option is best for you? It depends on how often you plan to use your Quontic debit card for purchases and the types of rewards you prefer. We lay out all the details below.

Quontic Bank Cash Rewards Checking Account

Not many banks offer cash rewards checking accounts, especially with no monthly fee. Quontic’s Cash Rewards checking delivers 1% cash back on all qualifying debit card transactions, which include point-of-sale purchases in stores and online.

Earn 1% cash back on all qualifying debit card transactions, paid at the start of your statement cycle. You’ll need just $100 for minimum deposit to open a cash back account.

Quontic Bank High Interest Checking Account

Quontic checking account customers might prefer high interest checking in lieu of cash back rewards. If that sounds like you, look into opening a high interest checking account with no monthly service fee, no overdraft fees, and no insufficient funds fees, either.

You’ll need to make at least 10 qualifying debit card purchases of at least $10 per statement cycle to cash in on the 1.1% Annual Percentage Yield.

While there is no minimum balance requirement, you’ll need at least $100 to open your account.

Quontic Bank Bitcoin Rewards Checking Account

No other banks offer a rewards checking account that pays you back in Bitcoin. For those looking to invest in crypto, the Bitcoin rewards checking account is a solid choice. It pays 1.5% back in Bitcoin on all eligible debit card purchases.

Quontic Bank lists eligible debit card purchases as:

Point-of-sale transactions in stores
Online purchases

Several types of transactions do not qualify. These include:

ATM withdrawals
Online bill payments
ACH payments
Wire transfers
Transfers from one account to another

You can sell the Bitcoin you’ve accrued at any time for a 2% fee. Cash will be transferred to your Bitcoin checking account. Like other Quontic Bank checking accounts, your Bitcoin Rewards account has no monthly fees, no overdraft fees, and no fees for insufficient funds notices.

Get started with Quontic

on Quontic’s secure website

Compare Checking Accounts

All three Quontic bank accounts come with a debit card and a Quontic Pay Ring, an innovative way to make contactless payments at the point-of-sale. Your debit card gives you free access to more than 90,000 ATMs across the U.S.

You can set up direct deposit to any of your Quontic bank accounts. But the bank doesn’t seem to offer any capabilities to get paid up to two days early, a feature offered by many other top online banks.

However, if you’re looking for bank accounts with competitive rates, robust online banking capabilities, and no monthly service fees, any of these three accounts can work for you. Keep in mind that the Bitcoin account is not available in Hawaii or North Carolina.

More Banking Products from Quontic

In addition to a wide array of checking and savings products with competitive rates, Quontic Bank offers a variety of mortgages. Quontic loan offices specialize in helping those typically under-served in the mortgage industry, including self-employed home buyers, non-US citizens, first-time buyers, and real estate investors.

Quontic Customer Service

Quontic Bank offers customers three easy ways to get in touch with a customer service representative. There is an integrated chat box in the app and on the website. You can enter your phone number and receive a call from a Quontic representative. Or you can speak with someone directly through your computer.

Bank Experience

Those looking for an exclusively online banking experience won’t be disappointed in Quontic. The website and app are both robust and easy to use. You can open an account online in under three minutes.

The app is available in the Google Play store or Apple’s App store. Quontic’s mobile banking experience gives you a few added capabilities over the desktop experience, enabling you to turn your debit card on or off for security, remote check deposit, and connections to a digital wallet.

How to Open a Quontic Account

You can open a Quontic account online or in the app. Visit the Quontic.com home page and click “Open an account.” You’ll be prompted to choose what kind of bank account you’d like.

You’ll need to fund your account through an ACH transfer from an external account or from an existing Quontic account. Take note of the minimum deposits required for the various account types.

None of the Quontic accounts have a monthly service fee, which can save you money compared to traditional banks.

How to Withdraw Money from an Account with Quontic

You can withdraw money from Quontic checking, savings, and Quontic bank money market accounts with no fees using your debit card at any one of the 90,000+ ATMs in Quontic’s network. That includes ATMs at Citi branch locations. You can also request cash back during debit card purchases at stores that allow it.

Finally, you can use Zelle to send money to another checking or savings account, or you can initiate an external transfer to another bank.

Get started with Quontic

on Quontic’s secure website

FAQs

See what people are asking after reading our Quontic bank review.

Is Quontic Bank FDIC insured?

Yes, Quontic Bank is FDIC insured, protecting account holders for up to $250,000 per account holder for each category of deposit accounts.

Does Quontic Bank have any branches?

As a digital bank only, Quontic no longer has local branches. However, its banking services are available in all 50 states and easily accessible online or through the mobile app.

What do I need to open an account at Quontic Bank?

To open an account at Quontic bank, you’ll need your name, address, email, social security number, and an external bank account or existing Quontic account to fund your new account.

Source: crediful.com

Apache is functioning normally

May 25, 2023 by Brett Tams

When you think about it, personal finance is about playing the long game. Sure, it’s about other things as well. It’s about paying off debt. It’s about spending less than you earn. But when you think about it overall, it’s about making choices that are harder in the short term for the good of the long term. Here’s what I mean….

Saving for retirement

Saving for retirement, for example, means having less money to spend today. Having less to spend today can help avoid lifestyle inflation, which is generally regarded as a good thing.

However, there are plenty of responsible things that could be done in the short term with that money. For example, you could pay off debt or give to a charitable cause that is meaningful to you. You could stash that cash in an emergency fund or eat organic foods and hire a personal trainer.

None of those are necessarily bad choices. But you decide that taking responsibility for caring for yourself in the event that you are no longer able to work full time is more important, so you play the long game.

Saving in liquid vehicles

Keeping an emergency fund in a “high-yield” online savings account or even a few certificates of deposit (CDs) doesn’t provide nearly as good of a return as many other types of investments. (Notice the sarcastic quote marks around “high-yield,” and even CD rates aren’t much better at the moment.) However, investments that typically provide higher returns are also riskier; that is, they don’t always provide higher returns.

In addition, keeping your funds in other types of investments may mean they are not easily accessible if you need them quickly. By maintaining a reasonable balance in liquid vehicles, you decide that losing out on some dividends or interest is a smarter choice than paying interest to a credit card company when emergency strikes, so you play the long game.

Being insured

Insuring yourself also means having less money to spend today. And sometimes it seems that there is no end to the types of insurance we “need.” I have the following:

And those are just the ones I can think of off the top of my head! I’m sure there are some I am missing. In the short term, that is hundreds or thousands of dollars I am “losing” each year to the mere possibility that something bad might happen. However, if something were to go wrong, I could lose much more, and that is what I’m protecting myself against. An event like a car crash (even if it isn’t my fault) or a catastrophic illness or injury could blow through even the beefiest of emergency funds in a single day. So I pay my insurance premiums and play the long game.

Maintaining big-ticket items

Think about the type of maintenance you have performed on your car: Changing the oil, rotating the tires and checking their air pressure, changing the air filters. Now think about your house: Changing the air filters, tuning up your air conditioner or heater annually, flushing the water heater, pruning large trees.

Why do we pay to take care of the things that we own? It’s because the better we take care of them, the better they will work. (You may save on gas by getting better mileage, for example). Not only that, but regular maintenance can help extend the lives of big-ticket items so you don’t have to pay the much higher replacement cost. In this case, playing the long game can mean you’ll be less likely to replace big-ticket items at an inconvenient time.

Replacing big-ticket items

What? We just finished the section on maintaining big-ticket items, now I’m saying replace? Yes, part of playing the long game is knowing how long maintenance and judicious repair are the least expensive options and when replacement will actually save more in the long run.

In the case of our HVAC, for example, a thousand-dollar repair on our 20-plus-year-old unit, coupled with electric bills that exceed $300 during the hottest part of the summer meant that replacement was the better option. We are paying just over $5,500 for our new unit, which is definitely a play for the long game. However, we anticipate saving enough to make that investment worth it, especially since we saved for the purchase and won’t be paying any interest.

Paying off debt

Financing your life with debt is a tricky proposition. Not only do you pay more over the long run because of interest; in essence, you’re also placing a lot of bets that are unlikely to pay off. You are betting, for example, that you will always make as much money as you do now. You’re betting that you won’t retire, be injured, or get sick.

That’s pretty much the opposite of playing the long game! Fortunately, making more than the minimum payment each month on your debts can save some money you would have spent on interest. It can also get those payments out of your life sooner so you can start funneling money into some other aspects of the long game.

Financing big purchases judiciously

As I pointed out above, sometimes it is cheaper to maintain or repair and other times it is cheaper to replace. Similarly, sometimes it is cheaper to save and pay for things outright and other times it is financially responsible to take on some debt. The trick is to be rational about these types of decisions if you can. (Sadly, our relationship with money isn’t always rational!) For example, Jake’s decision to take out student loans for three years to go to law school and gain a skill that would net him a six-figure salary was financially sound. My decision to spend eight years in graduate school accumulating an equivalent amount of student loans for degrees in English was not.

To give another example, the combination of low interest rates and the value that homes in our area lost during the Great Recession led us to conclude that buying when we did was the better financial decision — even though we were unable to put 20 percent down. Waiting would have meant paying a higher purchase price and having a higher interest for an equivalent house, all while paying rent in the meantime.

Priorities and the long game

Perhaps the biggest trick to the long game is realizing that you can’t do everything at once. As the saying goes, you can have anything you want, but you can’t have everything you want. You have to establish financial priorities and create your own personalized long game.

What specific actions are going to save you the most money in the long run (or enable you to earn the most)? What order makes sense for your life and goals? If you haven’t always played the long game in the past, how can you start now and get back on track? Decide and take action!

Source: getrichslowly.org

Apache is functioning normally

May 25, 2023 by Brett Tams

With a quantity of flowers and fashion moments on par with the coronation, Sofia Richie just took the concept of a wedding to new glamorous heights. Even among celebrity weddings, the South of France soireè was one for the record books.

The model and beauty entrepreneur wore not just one but three (!!!) custom Chanel bridal gowns on the big day, and rocked earrings designed by her sister, Nicole Richie, during the wedding weekend.

Dad Lionel Richie walked Sofia down the aisle to exchange vows with music label founder Elliot Grainge. Then the couple and their lucky guests celebrated with cake—a multi-tiered creation that they sliced with a saber—and surprise performances from Lionel as well as the rock band Good Charlotte, which includes Nicole’s husband, Joel Madden.

More From Veranda

Oh yes, and did we mention that this all took place at Hotel du Cap-Eden-Roc in Antibes, France? This is arguably one of most exclusive resorts in the French Riviera, and just so happens to host the annual amfAR Gala during the Cannes Film Festival, too.

The night concluded with a fireworks display over the Mediterranean Sea. All in all, a dreamy day, and one that has Richie raving about and recommending on Instagram: “Marry your best friend.” In reply, Grainge writes, “Thank you for making me the happiest man on earth. I love you.. wife.”

According to the celebrity couple’s wedding registry at Beverly Hills retailer Gearys, their gifts were just as luxe as their weekend. We’re swooning over the entire lineup!

Here are just a few of the items marked purchased, fulfilled and gifted—and jumping to the tops of our wish lists, too.

Shop Sofia Richie’s Wedding Registry

Source: veranda.com

Apache is functioning normally

May 25, 2023 by Brett Tams

When you were hunting for an apartment, you probably zoned in on just a few must haves – an affordable price in a convenient location that allows pets. You’re not hard to please, right?

Depending on your specific community, there could be a whole world of cool amenities and features right outside your front door that you’re missing out on. And guess what? You’re paying for these amenities every month!

Take my advice: don’t fall into the trap of not taking advantage of what’s available to you. I’ll admit that I’m totally guilty of this myself. I lived in a community in Duluth, GA that had not one but two swimming pools, a workout facility, tennis court, soccer field and a car wash all on-site. Did I ever partake in these convenient amenities? I used the pool and the car wash once over a four year period.

If you like the convenience of having everything you need at your fingertips, then an apartment with lots of amenities is right up your alley. Not only will you be able to have a good time without going far, but partaking in what your community offers is the best opportunity to meet your neighbors. So get out there, mix and mingle!

Billiards

This is an easy way to have fun for free. If you’re planning a birthday party or social gathering, ask your leasing office if this public space is available for your guests to enjoy. These are usually in a common room, where you can spend some time lounging around and getting to know your neighbors.

Meet the Neighbors: Why It’s Smart to Make the Effort

Fitness studio

Gym memberships aren’t cheap, and if you have something in your building, you save the money and hassle of having to go somewhere else like that. Even just the standard of a couple treadmills and some free weights and machines are a great benefit, and some even include free classes.

How Your Apartment Can Help You Lose Weight

Multi-purpose gaming room

For the kid at heart, game rooms are a fun perk. Some places go beyond just the billiard table above, including more games like foosball, ping pong, and air hockey. Some are even equipped with large TVs, perfect for bringing a console and setting up a group video game gathering.

Toddler room

Outdoor playgrounds are to be expected. When it’s chilly outside and the kids are bored, having an indoor play area could be the answer to your prayers. Amenities like these are beneficial if you prefer to limit your children’s TV and technology time. Not only can kids play and interact like they’re supposed to, but you can make some new friends, too. Network with other parents in your apartment community. You might even find a reliable sitter or set up a monthly play date with other parents.

Ways to Break the Ice with New Neighbors

Tanning bed

If occasional tanning is your thing, you’ll appreciate having a tanning bed in your apartment community. Even if this amenity is free, we caution you not to overdo it. Seriously, do you really want to scare the neighbors with your new Tan Mom makeover?

Spa

A day at the spa can be pretty pricey. If it’s not in your budget to spend big bucks on a massage, take advantage of your community’s spa, sauna or steam room. This feature meets the demand of residents who crave a high-end renting experience.

High-end fitness facilities

Do you like something more varied than a treadmill or lifting weights? Many apartments are more than willing to accommodate that. Tennis courts and basketball courts are frequently offered as a way to get your heart rate going, and have more fun that just repetitive exercise along the way.

6 Ways to Know If Your Apartment is ‘The One’

Movie theater

Why spend your hard-earned cash at the movie theater when you can watch flicks in your community’s cinema? Private screenings, scheduled movie nights and free popcorn are fairly common, but be sure to ask what’s happening in your specific community. Free date night, anyone?

Wine cellar

These often come with nights set aside for wine tastings, a great opportunity to spend more time with your neighbors. Have fun, and drink responsibly.

How to Hang Out in Your Apartment Community

Gift wrapping station

During the rush of the holiday season, this amenity is a must. Spend more time shopping while someone else does all the wrapping for you. Go head, take credit for those perfectly wrapped gifts. We won’t tell!

Bike storage/maintenance

More people are using bikes all the time, especially in areas where you’ll find large apartment complexes. If you’re looking to use a bike a lot, look to see how well they store the bikes, and if you’re lucky, you can find an apartment that has people on-site who can help you when your bike needs maintenance.

Really pet friendly

A lot of apartments allow pets, but how many of them are really, overly pet friendly? Look for ones that offer free dog treats near the office, community playtime for all the dogs and owners to get to know each other, and well-marked dog walking paths and parks. You and your dog will be grateful you spent the extra time looking.

How Apartment Communities are Evolving: Much More Than Amenities

If you think these are cool, there’s a whole world of unique apartment amenities out there that we haven’t even touched on. How would you like wake-up calls, after school care, free wifi and 24-hour on-site childcare?

We want to hear from you: What’s the best amenity your apartment community offers?

Apache is functioning normally

May 25, 2023 by Brett Tams

My wife and happy where we’re living, but we’ve always said that if we found the right house at the right price, we might consider moving. As such we’re always on the lookout for our “dream house”. What things would our dream house have? For one we’d like to have a large fenced in yard where our son and our dog can both play – without us worrying about them getting run over or going AWOL. We’d also like a home with a dedicated home office on the main level, along with at least 3 bedrooms on the upper level – as we’re planning on having more kids some day.

When we get one of our local newspapers, we always browse the local real estate section to see if there are any amazing deals on either homes, or on good lots to build a home. (My in-laws are home builders, and could build us a home if we asked). As time goes on it seems like there are more and more good deals to be found as more homes get foreclosed on, and prices in our area get depressed a bit.

While it’s tough to try and predict a bottom to the market so as to get the best deal, we’re feeling like it’s possible that we could end up moving within the next couple of years. Because of that I’m starting to look around again at mortgage companies, and trying to find somewhere where we can find not only a good rate, but a company you can rely on for good customer service. Today I want to look at one company that has been popping up on my radar lately, CapWest Mortgage.

CapWest Mortgage Background

CapWest Mortgage is a subsidiary of Farmers Bank & Trust, N.A., of Great Bend, Kansas. Farmers Bank & Trust was founded in 1907 as a small local bank in a central Kansas town, lending mainly to farmers in the area. It has grown to having a presence in major metropolitan areas in the Midwest, and now across the U.S. via the Internet. From their site:

CapWest philosophies are paralleled with that of its parent, Farmers Bank & Trust, N.A., of Great Bend, Kansas; quality, honesty, integrity and ethics. A progressive national banking organization, Farmers Bank & Trust has strengthened customer confidence for over 97 years.

Since 1971, this family owned community bank has grown in assets from $4 million to more than $520 Million and maintains branch banking locations throughout the Central Kansas Region.

CapWest Mortgage is committed to offering financial solutions that help our clients manage their money and meet their financial goals. Through innovative thinking, strategic planning, professional dedication, and our unique expertise and experience as lenders, CapWest Mortgage seeks to earn the trust and exceed the expectations of every one of its clients.
Our values arise from our heritage as a family-owned lender from the heartland with a century of tradition. Our values are made strong and secure by our status as a nationally-chartered bank with over a half a billion dollars in assets. CapWest Mortgage is real people helping real people, building business relationships that last a lifetime.

They’ve been around for quite some time, although it seems that they’ve only been expanding their reach via the internet in the last decade.

Good Customer Service

While it’s good to see a bank that has a solid financial history, it’s also important to find one with good customer focused service. To check up on CapWest I went over to the Better Business Bureau’s website and found that while CapWest did have some complaints, most of them were in fact resolved.

Based on BBB files, CapWest Mortgage has a BBB Rating of A+ on a scale from A+ to F.

CapWest Mortgage Rates

I wanted to try and figure out what some hypothetical rates I could expect to see if I were to use CapWest Mortgage, so I ran my potential situation through their rate calculator.

I ran it through as a $250,000 mortgage on a home purchase price of $300,000 for my city here in Shakopee, MN.

30 Year Fixed Rate Mortgage: 4.875% Rate – 5.018% APR – $1389.69/month
20 Year Fixed Rate Mortgage: 4.625% Rate – 4.723% APR – $1638.12/month
15 Year Fixed Rate Mortgage: 4.125% Rate – 4.229% APR – $1904.50/month
10 Year Fixed Rate Mortgage: 3.625% Rate – 3.754% APR – $2526.39/month

Their rates were either in line with or lower than other quotes that I ran today through my mortgage rates page.

These hypothetical rates are up to date as of March 2011, but to get a more up to date rate, please head on over to their site to get your own easy quote!

Click Here For Up To Date CapWest Mortgage Rates

Mortgage Discounts For Costco Customers

One thing that really caught my eye about CapWest was the fact that they advertise that they offer discounts on their mortgage products for Costco customers. I guess this is just one more reason why we should become members, our friends are always telling us how much they love Costco!

While I wasn’t able to find exactly what the Costco discounts are, on the Costco site they refer to their approved lenders as having capped lenders fees, and lower rates than might otherwise be available.

Lender Fees have been capped at $600 for an Executive members and $750 for all other members. In addition, the borrower will pay for what is typically called 3rd party fees, such as appraisal, title, and credit report. These fees vary based on the details of your loan. All out of pocket expenses, lender fees and closing costs will be discussed with you at the time of application.

So that could certainly save you some decent money, depending on what the lender normally charges for a loan.

Conclusion

If you have good credit (find out if you do) and are planning on buying a home or refinancing, CapWest Mortgage is definitely worth checking out. They have great rates, and can originate loans in all 50 states, so unless you’re in Canada, you should definitely keep them on your radar.

Add to all this the fact that they do have Costco discounts available, it should mean that they rise near the top of your list.

To find out more about CapWest or their mortgage discounts you can go to their site through the link below.

Source: biblemoneymatters.com

Apache is functioning normally

May 25, 2023 by Brett Tams

This is a guest post by Justin Reames, who blogs at The Family Finances.

Growing up, I remember watching shows like “Lassie” and movies like “Old Yeller” and “Where the Red Fern Grows”. These were old movies when I was a kid, but they were free to rent from the library, so we watched more than our fair share of old movies.

Because of those shows, I always thought it would have been nice to have a dog. The closest thing we had to a family pet was a turtle that my grandfather and I caught on a fishing trip. I had to keep it outside in a small tub, and after a week or two he ended up missing. Fast forward to adulthood. After buying our house in the fall of 2008, we soon decided to get a dog.

After researching different breeds online, we decided to adopt a retired racing greyhound. He’s been a great dog, and we have no regrets about getting him. He’s well-trained and gets along great with our baby boy. The adoption fee was something like $250, and that included neutering, three months of heart-worm pills, a leash, and a collar. I thought this was very reasonable. We knew there would be some upfront costs, such as a bed, crate, and some toys. And we knew he would need food and vet checkups.

I “knew” that we would have all these expenses. But we were so excited about getting a dog and didn’t really think too much about the long-term costs. I think a lot of people tend to follow that same thought process about getting a pet. It seems like a really good idea, and the upfront costs aren’t too bad. But for a lot people the recurring costs of pet ownership are enough to stretch their monthly budget over the limit of what they can really afford.

The True Costs

I just reviewed the final figures for our 2011 expenses (I’m an accountant; I just can’t help myself), and the line item for pets is pretty steep indeed. We spent just over $1,300 on our dog, or around $110 a month. Here is the breakdown:

Food: $912/year ($76/month)
Medication (heart-worm and flea preventative): $176/year ($15/month)
Toys and treats: $100/year ($8/month)
Vet bills: $120/year ($10/month)

Our annual expense runs a little higher than the national average. According to the American Society for the Prevention of Cruelty to Animals, the average annual cost for a large dog is around $900. What drives our cost higher is food. Our dog has some kidney issues and is on special food to help process the nutrients in his food. Needless to say, this food is substantially more expensive than the Purina we used to buy him. The point is that you never know when something like this will come about and drive up your monthly expenses. Another example? In 2010 we found our dog had a small lump growing on his belly that cost $400 to remove. Thankfully that was only a one-time thing, but again you never know what’s going to happen.

The Benefits

While the costs are certainly significant, there are also great benefits to having a dog. We love our dog and would no sooner give him up than we would our son. He’s a great companion and greets me at the door with his tail wagging every evening. When it’s nice outside, he forces us to exercise by taking him out for a walk in the evenings. He even provides some security as he can look pretty intimidating (though he wouldn’t hurt a thing). As our son gets older, it’s nice to know that he’ll have a dog to keep him company. They can play together out in the yard, chase each other through the house, and all those other things little boys do with their dogs. I remember going to my friend’s house and playing with his dogs and what fun it was.

Even going beyond the intangible benefits of pet ownership, there are actual physical benefits as well. A number of studies have shown that pet owners are less stressed, have lower cholesterol, and can even live longer. See this article at WebMD for 27 such benefits. Our dog greatly enriches our lives. To us the benefits definitely outweigh the costs.

The Bottom Line

This is not to say that everyone should or shouldn’t get a pet, but before you actually go and get one you need to seriously look into the future costs and make sure there is room in your monthly budget to handle it. The last thing anyone wants is to bond with a pet for a year or two, then realize that it’s just too difficult to make ends meet from month to month.

How much do you spend on your pets each month? Do you budget for regular pet expenses and unexpected bills?

Source: getrichslowly.org

Apache is functioning normally

May 24, 2023 by Brett Tams

Welcome back to the show, everybody! I’m excited to have my buddy, Rafael Cortez, back on the show! Rafael is an amazing guy and a scale master! He is a coach who helps people scale with his systems and processes. Today, we will talk about mindset, self-doubt, fear of change, fear of success, and self-sabotage that many business owners face today. Let’s get started!

Mike: [00:00:00] Hey everybody. Welcome back to the show. I’m really excited, uh, to have my buddy Raphael Cortez on. He’s been on the show a while back. It’s been over a year. We were just talking about it, it seemed like two months, but it’s been over a year and we’ve been spending a bunch of time together lately, over the past.

Mike: This is like three weeks in a row that we’re hanging out. Uh, of course the last couple weeks have been in person. I was out in Phoenix, and you were here at Investor Fuel in Dallas. Raphael’s just an amazing guy. And honestly, for as much as I talk about scale and trying to help people scale, like he’s, he’s a scale master at systems and processes.

Mike: And in fact, today we’re gonna be talking about mindset stuff because he’s a coach that helps people scale as well. And we were talking about what we’re gonna talk about and. And just had some great discussions on just the mental side of this business. And I think, um, if you’ve been in the business for a while, and even if you’ve been scaled up, it’s what a weird time to just live in America.

Mike: What a weird time to be running a business. And so all of our mindsets are a little bit screwed up of, you know, what’s, what’s up and what’s down, right? So that’s what we’re gonna talk about. Today, welcome to Real Estate Investing Secrets. [00:01:00] We’re all looking for freedom and the opportunity to live better, more fulfilling lives.

Mike: But most of us, were trained our entire lives to work for someone else to chase their dreams. How can we use real estate investing as a vehicle to achieve financial freedom? My life is dedicated to answering your real estate investing questions and helping you build an investing business that allows you to change your life.

Mike: And the world around you, and to enable you to turn your dreams of financial freedom into a reality. My name is Mike Hambright from Flip nerd.com, and your questions get answered here on the Real Estate Investing Secrets show.

Mike: Raphael. What’s up buddy?

Rafael: What’s going on man? Thanks for having me back. It’s an honor, dude.

Mike: Yeah. Always, always good to hang out with you. We’ve been hanging out a ton. Uh, as you know, uh, you guys can see Raphael’s office there. He’s got the sweetest office I’ve ever, I’ve ever been, been in. And I was out there a couple weeks ago and I was like jealous of, uh, this office. So you’ll pivot on the camera.

Mike: There’s the office. Yeah. He is got like, It’s like a museum. He’s got [00:02:00] motorcycles set up in there and punching bags and just like, it’s a total like man cave, right? Yeah.

Rafael: You know, the stuff that I can’t get away with at home, I guess they come in and do it at the office.

Mike: That’s right. Yeah. You gotta, yeah.

Mike: You got a place there. So, uh, hey, tell us real fast, tell us about a little bit about your background for those that, that don’t know you yet.

Rafael: Um, thank you again. My name’s Rafael Cortes. I’m based out of Phoenix, um, um, Arizona. So I, this is my main market. I do a lot of wholesale. I to fix and flip. I’ve been a real estate since 2009.

Rafael: Um, I own a brokerage here in town as well, so we do traditional stuff. So everything when it comes to, to real estate investments. I mean, we tried it all, you know, from the residential, the commercial, the wholesale investments, creative financing and all of that stuff in between, right. Um, by career. I, uh, I’m a, I’m an organizational psychologist, so my thing is, is, uh, you know, it’s people and systems, right.

Rafael: Uh, which plays right into the, the topic that we’re gonna be covering today. Yeah. Um, but yeah, I mean, basically what I do is I put people, uh, and, and systems together and make ’em work, you know, in, in a symbiotic way [00:03:00] for. For the sake of business and operations. I mean, that’s mainly, you know, one of my biggest, uh, spaces

Mike: where, where Yeah.

Mike: Yeah. And we were talking Right, right, right. Before we, uh, kind of hit record here, we were talking about just this idea of self sabotage and, and I know that I’ve done it. There’s areas in my life that I do something and I, and I look back on it and I’m like, why did I do that? Like, why did, why did I make that as hard?

Mike: As I did, and it didn’t need to be. And I think there’s a lot of us that do some element of this, and it’s like, it’s deep in your soul as to why that’s happening. Right. It doesn’t make sense. It’s not like you’re consciously thinking about it, but it’s like you’re aiming at something and you just let stuff get in the way that shouldn’t.

Mike: Right. And so, uh, have you, you, you’ve coached a lot of people too. Ha, have you seen some of that where people just Oh, sabotage their own results? Right. It could be that you don’t think they’re worthy. Or it could be, they don’t even know why they’re doing it. Right. So what are your thoughts on that?

Rafael: Every, every single day, man, I see it every single day.

Rafael: And not just from students, right? I ha you know, [00:04:00] thankfully, thank God I have a lot of students throughout the country. But, but I mean, we have, we have default modes of behavior psychologically, right? There’s stuff that we just go back to whenever we get stressed. If you’re, for example, you’re doing wholesaling and you’re cold calling and then you get rejected, you know, 10 times and you feel demoralized, you’re gonna build stress, right?

Rafael: And, and, um, we go back to our default actions and a lot of that stuff is, is, you know, tends to be negative. Why? Because we beat ourselves up as we’re growing up for the stuff that we couldn’t accomplish. Right? And we didn’t get first place on that race. I mean, we feel bad as we were little if we sucked at baseball, right?

Rafael: It was just wasn’t in our lane. And I’m using personal examples here, so, So we, we feel, we start feeling like, like we’re not, you know, we’re not enough, right? Um, but what happens is that we start to get programmed to respond that way to new challenges. Um, and, and as we, you know, go through life, even if we’re really good at something, uh, we’re, we’re gonna forget, you know, we’re gonna lose the awareness of it and go back to default thinking, default modes.[00:05:00]

Rafael: And, uh, and a lot of times that’s what happens, right? You see people just, you know, staying in flow and then start to become fearful, uh, of losing it all. Or losing the, uh, you know, the, um, The, the groove or, or they get to a point where they start to hit this glass ceiling and, um, start doing things. Uh, in terms of self-sabotage, that may not necessarily always look like self-sabotage, right?

Rafael: It’s not, it doesn’t always look bad. So it’s not, you know, always depressing or anything. But, um, you know that you’re gonna take a vacation in the middle of, uh, a time that you shouldn’t be taking a vacation, right? So because of, of where you were at in, in a process, in, in a deal transaction or whatever.

Rafael: But we’ll start doing that kind of stuff. Um, Almost in pursuit of that instant gratification when we know it’s not the best course of action at that time. And it’s happened to me a bunch of times in the past. Yeah. And, and what happens is that we circle back, like we come back to that, you know, point of, of beginning, um, where we feel comfortable.

Rafael: Like at the end of the day, we want to go back to that space that we know if we feel, you know, quote unquote comfortable. We’re very familiar with building [00:06:00] from the ground up whenever we get to a point of success that scares us. That’s gonna demand a higher, a better version of us. Um, you know, we start, I don’t know, add a zero to your deals, right?

Rafael: Like, that’s gonna make you nervous. Yeah. Um, it, it’s, it’s, it’s incredible how far we will go to, uh, just reset that and come back to that comfort zone.

Mike: And you know what, what I think exacerbates all that is that a lot of people that are watching us or seeing on social media or whatever, they’re, I don’t mean this in a negative way, they’re just operating.

Mike: If you’re a high performer, like most people are further back than you are. And so you almost like feel like, so like you said, nobody’s gonna say anything. Because most people already think you’re way ahead of them, so they’re not even, so you won’t feel bad if you are not successful because many aren’t at that level, right?

Mike: Yeah. So it kind of holds you back or you pull yourself back to, uh, to a lower level than what you could achieve. You know? And it would be different if you were, for example, you, you were just at investor fuel, [00:07:00] right? So if you’re in a network of people that are high achievers, like you might hit this, uh, ceiling, which is just in your head probably right?

Mike: But if you were around a different group of people that were operating at a way higher level, you’d be able to blow past that. No problem. There’s just this, like you said, a glass ceiling, and it’s really a fake glass ceiling. It’s not even real. You just hit this thing and you just get stuck because that is a.

Mike: You know, the network you have right now, or the people you’ve surrounded yourself with, or the, the mindset of this is, I, I’m ahead of everybody else. Why do I need to keep pushing further? But if you got around another circle that would help you push to another level, you would be at the starting line still maybe,

Rafael: right?

Rafael: Yeah, no, absolutely. And you know, what happens to, I mean, we’d be,

Mike: we’d be, I didn’t say that very succinctly, but I think, uh, yeah,

Rafael: no, no, I get, I get the, uh, I get the, the point. Um, and what happens too is that, I mean, we be, as, as you know, time goes on, we become creatures of habit. And, uh, and we want to, we wanna be familiar with, with our surroundings.

Rafael: We want to be familiar with, you know, with the stuff that, that, you know, that surround us on a regular [00:08:00] basis, right? And we’ll fight for that, but we’ll also fight to be, right. So if you’re wiring, if you’re psyche is, is telling you that you have a, a, i, I don’t know, call it a financial thermostat, right? I’m gonna be able to hit this number and that number is just a big number for me.

Rafael: And it feels scary. It feels like you’re out there. That may be 50 K for some people, a hundred K for some people, a million for other people. Right, right. But we have this financial thermostat. I mean, to, to paint an example on, on how we kind of reset psychologically when we get around that area. Right.

Rafael: We’ll, we’ll start to roll out self-sabotage because subconsciously, Um, success can also create fear, right? We, again, it’s gonna demand a higher version of yourself. It’s gonna demand more commitment, it’s gonna demand you putting yourself in a, in a, in a space where maybe you don’t control everything.

Rafael: Maybe you don’t know all the ins and outs and you’re not as comfortable, right? Um, I remember it took me, my first company, took me eight years to build that thing up, and, and I mean, I got to a point where I was like, you know, fishing, water, right? Swimming in that particular business, transportation, [00:09:00] and I was doing, Really, really well.

Rafael: And as soon as I jumped into real estate, like I started being all kinds of, of, uh, of, uh, you know, risk averse and, and, you know, doubt started creeping in. And my, my, just, my character and my behavior just absolutely changed from that confident, you know, self and entrepreneur, you know, person that I was in that industry to this other one that was like, what the hell am I doing?

Rafael: What is going on? Right. Right. Um, but that’s because, you know, that landscape is just, we don’t know it yet. And as if, if we make the intentional, if we become intentional about moving forward, and, and I think, I think, Mike, what happens to you is a lot of times we don’t have a clear vision. We don’t have a, a clear path of where we, uh, we want to go.

Rafael: Uh, And that creates a lot of noise, right? It creates a lot of noise. And anything that comes along our, you know, uh, our path is gonna be a good option because we don’t have anything set in, in, um, in, in, you know, as a destination, right? And it doesn’t mean that it’s gonna be the exact, you know, same path that you imagined, you’re gonna walk that path.

Rafael: Maybe you’re gonna have to pivot [00:10:00] that a couple of times and whatnot. But you’re, you’re gonna have a, a, I call it a lighthouse. Right. You have, you’re gonna have this beacon that you, that you want to get to. Right. And we have that and we have a clear, uh, perspective on what that looks like. Everything that we do from here to there Right.

Rafael: Uh, becomes, starts to, to get in alignment. Yeah. And, and I think that’s one of the biggest things because we’ll get, we’ll get, um, one of the biggest things that I see in, in self-sabotage for example, is, is shiny object central. Like, oh yeah, I’m doing this strategy, but I saw that on social media, so I’m gonna move out and, and then everything that’s working right now, I’m gonna set it aside.

Rafael: I’m gonna go that because that looks, you know, sexy. Yeah. Um, and, and what happens? I mean, you’re moving your entire thing because you don’t have a stronghold on that final, you know, uh, or ultimate vision that you wanna, you know, you wanna accomplish. Right.

Mike: Yeah. And I think the other thing that happens is there’s this saying, I’ve actually, I don’t know where I heard this from, uh, but I’ve, I’ve used it a lot lately that you can hustle your way to seven figures, but not to eight.

Mike: Yeah. And I think what happens is once [00:11:00] you, like, this is gonna sound like ego driven, right? But I think like I could show anybody how to. This, and this is a big deal for people that are in a W2 job. I could show anybody how to create a business that’s a million dollars a year. Like getting to 10 is way harder, right?

Mike: Oh yeah. So what I think happens is people get up to that level where they have a, a nice, like seven figure business and they get a little bit bored and they, and they like the, um, the adrenaline. From being able to hustle your way to create something else, because that appears to be easier to do than to go from, let’s just say, get a two or $3 million year business to 10, right?

Mike: Be because they don’t have the skill, like they got the skillset to go start over and create another two or $3 million business, but they don’t have the skillset and they’re, they’re not willing to put in the effort or whatever it is the, the investment or whatever to take that three to 10, which honestly would be easier.

Mike: Um, But in their mind, they just think, well, because it’s a different, it’s a different approach. It’s like [00:12:00] management of resources versus hustle. They can go hustle and do something else, and they know how to do that, but they don’t have the skillset yet to be a manager and a good steward of taking on investment, whatever it takes you to get from three to 10, but that would probably ultimately give you the freedom that you want, right?

Mike: Because if you’re going from three to 10 million, like if you’re hustling your way to low seven figure businesses, And not to say that that doesn’t provide a good lifestyle. You don’t have the resources to have a robust team. Right? And this is industry specific. But if you, if you, you know, if you have a two or 3 million real estate business, you’re probably still doing a lot of stuff.

Mike: Like you don’t have a huge bench of, uh, a team. But if you went from three to 10, You would have a coo, you would have a bunch of resources to pay for things. Right.

Rafael: I think it’s really tough to go from three to 10 without having that stuff in place. Yeah. You

Mike: can’t. Yeah, that’s what I’m saying. So you just fall back on, well, I could go start like doing Yeah, something else.

Mike: Flipping cars, right? And you could hustle your way to, uh, a couple million dollar business again, [00:13:00] but it’s not gonna give you that freedom that you probably

Rafael: want. And I, I think also what happens too is that that fear of failure becomes a lot more, you know, a lot more real. Right? Because I mean, and, and I, I love bootstrap scenarios.

Rafael: People who just, you know, they say, okay, I want, I, I wanna improve my life. I want to get better. I mean, that’s, that’s really my passion is coaching bootstraps and, you know, bootstrap entrepreneurs, uh, because I’m one of those, right. But it’s, it’s, uh, I feel like. At the beginning, you’re hungry. You are, you’re okay.

Rafael: Well, I got, you know, this is, this is there, there’s nowhere else to go but up, right? Right. I’m gonna climb this, climb this mountain. We’re doing everything it takes, uh, to get, you know, to this point, the fear, uh, of. Of, uh, failure is not really, you know, it’s not that predominant. Why? Because we’re building stuff and then you get to a point where you have, you know, stuff you achieved, uh, you know, a few things and yeah.

Rafael: Now maybe you have a network, you have a decent business, you have employees and all that stuff, and then the fear becomes a lot more real. Yeah. Um, and I think that’s where, where, where people just kind of pull back. [00:14:00] A lot of that doubt starts to creep in. Yeah. Back, back into your, your psyche. Uh, there’s a lot of doubt when we begin.

Rafael: Right. And a lot of stuff that holds us back from taking action. Um, but at the end of the day, like, I think it’s, it’s all a cycle. If we don’t, if we’re not aware of how we react to our own, uh, psychological triggers, right? That’s one. And then, um, we don’t know how to navigate through them. Like we’re gonna get stuck every single time.

Rafael: Um, that fear and that uncertainty, um, that maybe sense of un unworthiness comes in. Like, who am I to be making 10 mil, 10 mil a year? Right. Right. To be, you know, part of this group of elite people. You know, that that’s, that’s a long process. Yeah, it just

Mike: made me think of this analogy and, uh, as a guy, and it’s, you know, we, of course we have women that listen to, but everybody, I’ll appreciate this, we all have those friends that will never get married because they just, they date somebody and it gets to a certain level and they just wanna start over.

Mike: Like, and the truth is, is things get a little tough. [00:15:00] Things get a little more serious, you know, now you gotta step up and they somehow sabotage it and they just like start over with dating somebody else again. And, you know, they’re like, 40, 50 years old and probably have never been married and probably never will, because it’s just easy for them to go hustle their way to.

Mike: Uh, a new relationship cuz there’s no real responsibilities, you know, and they just sabotage themselves. Right. It’s like that in business too, I think. Yeah. People And I just thought of this analogy and I hopefully, uh, uh, one, the one really good friend of mine, uh, that uh, fits exactly what I just said, isn’t listening to this cuz he’ll be like, you’re talking about me.

Mike: But it’s like, things get hard things, it, it’s hard to stay married, right? It’s hard and it’s hard to commit to. A higher level of business because there are more stakes. There’s more, more to lose. There’s more people that you’re responsible for. But I think if when people are starting off, that’s where everybody says they want to get to.

Mike: But then when you start to get to that point, like you said, sometimes you start questioning, am I worthy of this? Am I capable of this? And the truth [00:16:00] is, nobody came out of the womb. Being a c e o of a 10 million company or having that skillset, you have to learn those things. You have to get coaching, you have to join masterminds, you have to read a lot of books.

Mike: Like you have to lose a lot and fail and fail your way forward and learn from those things.

Rafael: Yeah, a hundred percent. Man, we have to get out of our own heads. Right? It’s, it’s, um, That quiet place can be a scary place sometimes. Yeah. I’m saying don’t ever be there. We have to be there to contemplate, you know, come, you know, come up with original ideas and, and, and kind of find ourselves who we truly are.

Rafael: Right. Um, but also we spend too much time in, in, in that quiet place and we’re not, uh, You know, tapping into different perspectives, reaching it out, you know, to people who are going through, uh, the journey that we’re looking to go in, into. Um, we’re missing out on big opportunities. I mean, we’re, I mean, I, I learned from you and, and, and, uh, and, uh, you know, everybody else around us on a, on a regular basis.

Rafael: It’s, it’s just, it opens up. Perspective. And once we have that seed right, it’s, it’s really hard to [00:17:00] lie to ourselves because, you know, somebody else has done it, you know, it’s possible. You have the, uh, the, uh, the, the proof of concept, although it’s not, you know, it’s not mine yet. I see it happening on a regular basis.

Rafael: Now it becomes a matter. Yeah. Cool. Am I gonna commit to this thing? Um, and am I committed or am I interested in really changing the, the, the, the lifestyle that I have? Am I committed or am I interested in becoming an entrepreneur? Uh, if I’m interested, dude, anything, uh, a new Netflix series is gonna throw me off.

Rafael: The, the, you know, the wagon, right? Yeah. Uh, anything is gonna, it is gonna, you know, create, um, distance between me and my goal. If I’m committed, though, uh, there’s gonna, it is gonna take a lot of force. To break me from that vision, right? Yeah. To throw me off the path. Um, again, sometimes we have to come in and pivot if the market is weird and we have to navigate stuff.

Rafael: Okay, cool. Go back to the drawing board, analyze the basics. See what you know, see what’s up. See if you need to pivot into something else. But don’t lose sight of that one thing that lights you up in the morning. Every morning. [00:18:00] I guarantee you have this every morning. Because I mean, achievers and, and, and, you know, the most successful people that I know, um, wake up with this fire in the gut, and it’s almost an excitement.

Rafael: We don’t wake up in the morning like, Ugh, I gotta go to work again. Ugh. Now we wake up and it’s like, shit, what amazing stuff’s gonna happen? Right? What, you know, what connections am I, am I gonna make, what opportunities are gonna come up? How am I gonna, you know, help somebody improve their life? How’s somebody else gonna improve my life?

Rafael: Right? So I think a lot of that, you know, has to be, has to be adopted. And it took a while for me to just kind of sit with that kind of stuff, right? But those are internal conversations that we have. If we don’t get out of the um, um, Of that, you know, quiet space and, and tap into, again, different groups, different perspectives, even if you have a, a best friend or just a friend or an acquaintance or something.

Rafael: I mean, make it a habit, uh, of, you know, sitting down for lunch and then catching up. Okay, where are you at? You know, how are you feeling? We have a men’s group, dude. Uh, like it’s, it’s, it’s, it used to be, you know, weird [00:19:00] to have a men’s group, right? Because guys get together and then they, they talk about, you know, how they’re feeling, what their mindset is.

Rafael: Uh, all these guys are crushing it, right? And we get together once a month. And then we just do a kinda like a touch, you know, we’re touching base, you know, how are you doing? It’s a group of about 12 of us. And I mean, it’s a big, big support thing, right? That, you know, plays right into, you know, the power of masterminds.

Rafael: It’s the power of just getting out of our own heads and, and sometimes a simple conversation is gonna, is gonna reset your, your ambition. It’s gonna reset

Mike: your Yeah, that’s great. Yeah. We talk about that in investor fuel. It’s kind of a play on words like, come to recharge your batteries, right? It’s like, yeah, they kinda can get reinvigorated and, and to see what’s possible too.

Mike: If you’re in the right circle and if you’re the biggest guy in the circle. Or, or woman, like, that’s not, that’s not ideal like you always want to be. You’d be, you’d be better off being the smallest person in that circle versus the biggest ride. I’ll give you a perfect story for this. This is, uh, really an eye-opener for me yesterday.

Mike: I, I love what I do and I, I love what I get to [00:20:00] do and I love all the freedoms that I have, but. Long story short, I went to, uh, I met my wife in grad school. We went to a, one of the, you know, top 20 or so n b a programs in the country. Great program, you know, and I think there’s a bunch of people that are kind of stuck in middle management.

Mike: And I, in the past I’ve like, you know, I have some friends, I’m like, man, I’m so much better off than where they are. I kind of stuck at, you know, middle management for some job, whatever. I, I, and, and I’ve said that a few times or I’ve thought that, and then yesterday there’s a guy that I was pretty good friends with in.

Mike: Our program, which I’m gonna date myself here, we actually have our 20 year reunion coming up, uh, uh, in September. And there’s a Facebook group for our class. And there’s a guy in there that I was pretty good friends with, I haven’t talked to in honestly, 20 years since we graduated. And I just found out for the past two years.

Mike: He’s, he’s the c e o of a 10.5 billion, uh, oil company. Wow. And I’m like, You know, and he is a couple years younger than me. I’m like, damn. Like, you know, just thinking what’s possible. Like this guy that I used to, he was in my small [00:21:00] group, so we studied together like every day for a couple years, for the most part is now a C E O of a 10 billion company.

Mike: Right? Yeah. And any of us that are listening to this can do that too. And for him, you know, and I haven’t talked to him again in 20 years, but he’s got issues that he’s dealing with, I’m sure. But it’s the, some of the same stuff. If you let the fear of success, the fear of change, Thinking you’re not worthy.

Mike: All that stuff get in the way. Like he wouldn’t be there either. Right? So any of us can achieve bigger things. And sometimes it, my point of saying all this is, it’s just a matter of believing you can do it and being around people that are doing it and just keep pushing it to the next

Rafael: level. Right? A hundred percent.

Rafael: Man. It’s the, uh, like one thing that I, that I, this is how I gauge whether or not I’m in the right room if I feel inadequate. Hmm. Yeah. But I have a feeling of inadequacy. And I’m, it’s almost, I mean, I don’t wanna say intimidation. But it’s like, oh, okay, cool. If I have to think about how can I bring value to this group, if I walk into a group and okay, I know automatically, you know what I’m gonna do, and I, [00:22:00] you know, I have a, a confidence of a thousand walking into the room, more than likely it’s not the right room.

Rafael: Right. Uh, for me. Right. It, it’s like I want to feel inadequate. Yeah. I want to feel like, okay, cool. There’s, there’re like, I have to stretch myself to really put myself in the line here. Uh, because these people are crushing it. These people are, are, you know, I’m learning from them. So I have to bring my, you know, my, my higher and best version, uh, uh, you know, forward, right?

Rafael: So, yeah. So it’s, it’s just kind of, uh, you know, a way of, of looking at things. Um, so I, everybody listening out there, I suggest you start looking at, at events, uh, real estate investor associations, at meetups, at groups. I mean, if you don’t have one in your, in your circle, in your area, I mean, put one together.

Rafael: You know, start scouting, you know, get five, you know, people that you feel are like, you know, top level players, they’re committed. Get ’em into a room. I’m telling you, magic will happen. Like that’s the first thing to get out of that funky mindset that we, you sometimes get bogged down with.

Mike: Yep. I know both of us now, coincidentally, the last two weeks, I came out, uh, and spoke at [00:23:00] you.

Mike: You had a group gathering some amazing people there. I think you had one that night, you had like 60 or 70 people in your office there. Yeah, something like that. And then you came to my Investor Fuel event, which is, you know, is a pretty large event, native event. I love that. I think both of us really believe in the power of, uh, community so much that we’re community creators, right?

Mike: And so, That’s good. That’s a good tip. So with the rest of our time here, maybe you could talk a little bit about some action items, people and, and everybody’s guilty of this. I mean, I get in my own head and here I am thinking that, you know, not that I have a lot of ego thinking of, look at all this stuff that I’ve created, but then I get it.

Mike: I just told you, a friend of mine that I haven’t talked to in a long time is running a 10 billion company. I’m like, damn, maybe I need to make bigger.

Rafael: Right. He’s and he’s looking at another dude that’s running a hundred million.

Mike: Exactly, exactly. Yeah. There’s no doubt about it. Right. And so, But talk about for folks that are listening to this, that know that they do some self sabotage or know they get in the way of their own success, which probably everybody listening to this does at some level.

Mike: Let’s talk about some action items, some things that they can go [00:24:00] apply to, uh,

Rafael: improve. Um, I, I would, I would call, you know, call everybody out to focus on two things. One is gonna be clarity and, and the other one is gonna be deciding whether you are committed to something or you’re interested in something.

Rafael: Okay. Um, so get clear about whatever that vision looks like. I mean, you, one of the things that I do on a regular, I mean, I, I dunno, you probably saw me carrying this around at the, at the, at the Investor film Mastermind. Uh, but I carry, I, I always carry a notebook. I’m always taking notes. Yeah. I take time to journal, journal.

Rafael: For me, it’s, it’s a mind dump. So I have this mind dump exercise that I do on a daily basis. You know, what happened yesterday? I have a gratitude, you know, section in there and it’s just me taking 20, 30 minutes in the morning when I, when I woke up and I’m fresh. Um, to, you know, to give gratitude. It’s really hard to be pessimistic when you’re being grateful about stuff, right?

Rafael: Yeah. So I intentionally line up my day, uh, in the morning that way, right? So I take some, some time, you know, for me just to be in, in my [00:25:00] space and whatnot and kind of quiet my mind, um, going to gratitude, and then I start journaling, okay, what my, what my ideal day would look like. You know, stuff that is lined out, but, uh, lined up.

Rafael: But I never forget about the big picture. Okay, what do I, you know, what do I want to, what, what am I shooting for in three years, right? Um, and then I see myself in that space, and I sit within, you know, at the beginning it can be a little distracting because you’re gonna start thinking about a, you know, a billion other things other than that one vision that you’re trying to kind of shape in your head.

Rafael: But after a while, it starts to become, you know, to become more and more clear. Um, so get clear about where you want to be. I mean, what does that look like? The, you know, what does your office, your work environment, what does it look like, the people around you, who do you wanna be acquainted, you know, with, um, you know, what kind of events do you want to be attending?

Rafael: What kind of spotlight do you want, if any, right? What kind of results you want in your business? So get clear about all that kind of stuff. Then have a, a realistic conversation about where you’re at right now. Like this is a you and you conversation, [00:26:00] um, and get, uh, you know, decide whether you’re interested in creating that, that, uh, Better version of yourself cuz it’s gonna demand a whole other individual.

Rafael: Right. Uh, I won 30 years of my life thinking I was crushing it and then I hit 30 and um, I was like, oh, okay, cool. I mean, I, I, I can do, I can do more. I can actually make an impact on people, but it’s gonna demand a lot more of me. It’s gonna demand a different version. Um, and the. The catalyst for all that to happen was me getting committed to it as opposed to being interested.

Rafael: Uh, and, uh, when we’re interested, it, it’s, it’s easy to just, you know, uh, flake and waffle, right? With, with decision and actions. Um, but if you’re committed and you have a clear outcome on the vision that you want to get to, trust me, you’re gonna figure things out. Uh, you’re gonna figure out, because you’re gonna start brainstorming and you’re gonna start getting, you know, getting obsessive almost about, you know, that particular vision.

Rafael: Right? Yeah. Um, And you’re gonna, you’re, you’re gonna start thinking about who can you know, can I bring into my world? Or [00:27:00] who can I reach out to that maybe can help me get there? And now you start to create, you know, alliances and, and, and connections. And you start it, it’s incredible how the whole thing just kind of starts to unravel and manifest, right?

Rafael: We call it manifestation, but in reality, I think it’s, it’s, it’s, uh, It’s us being intentional about where we wanna get to and then recognizing the resources along the way. Like that’s, that’s a lot of what happens. I mean, in psychology it’s called the reticular activating system, right? We just pay more attention to, to the stuff that we’re interested in.

Rafael: Um, the crazy thing is that we don’t often clarify what we’re interested in. So begin with that.

Mike: Yep. And when I think when you start to vocalize it too in front of other people, your peers or people that you. Respect, then it forces you to start taking different actions. Like, like, man, I, I committed to this.

Mike: And so if you’ve ever done anything like you’ve said, like, Hey, I’m just publicly announcing that I’m gonna lose like 30 pounds in the next six months. It’s like, it’s kind of out there now. Yeah. And it’s some level of accountability, right? Like you’ve, you’ve kind of laid down the gauntlet and people are [00:28:00] gonna ask you about, Hey man, how’s, how’s your, how’s your weight loss going?

Mike: And, uh, you don’t, the last thing you wanna say is like, I haven’t done a damn thing. You know?

Rafael: Exactly. Yeah, exactly. Exactly.

Mike: So, awesome, man. So Raphael, you, you, you, a huge giver in the industry here. If folks want to reach out to you, I know you do a lot of coaching, mainly around helping people scale up their systems and processes and things like that.

Mike: Obviously a lot of mindset stuff too. Like if they wanna reach out to you, you’ve got a podcast, you’ve got all kinds of things going on. Kick ass office, we’ve already talked about that. Uh, aside from dropping your address, they come check out your kick as kick ass office. Where, where would they reach out to you and learn, uh,

Rafael: more.

Rafael: Um, you can find me everywhere on social media. I’m pretty active on Instagram at Raphael Cortes, c e o, uh, that’s on there. I do have a, a, um, I coach, uh, real estate wholesale and I scale real estate wholesale businesses, right? So I, I help, um, students, uh, through a couple of different programs. You can find more about that in re ei wholesaling.com.[00:29:00]

Rafael: You can also download a free course that I have on there, uh, real, uh, the wholesale 1 0 1 course. Uh, it gives you a good breakdown and overview of what the entire process looks like and how you can get to your first deal and that sort of thing. So it’s really good content. Uh, it’s a solid, um, uh, training, um, uh, program that I put together there, and that’s completely free so they can find it at r e i wholesaling.com.

Mike: Awesome. We’ll lot a link down in the show notes here. So thanks, uh, thanks for hanging out with me three weeks in a row now, buddy. Yeah,

Rafael: I know. I know I’m putting my mic fixed.

Mike: We gotta figure out what we’re gonna do, uh, next week, I guess,

Rafael: bro. Name it.

Mike: Yeah. Awesome. Thank you so much, guys. I think, uh, hopefully this, this was timely for you.

Mike: I think there’s a lot of stuff over the past couple years that’s made us kind of question why we do what we do, what’s possible. Like the economy’s fizzling a little bit. There’s some people that are thriving. You know, what makes somebody thrive versus just kind of get by or step back because they say the market’s bad.

Mike: I’m just, it’s, it’s between your ears, right? It’s that mindset that you have of believing in yourself. Off, believing what’s possible and being intentional about what your goals are and just going after [00:30:00] ’em. So hopefully this was a little shot in the arm for you today. Uh, Minnie, thanks to Raphael for sharing some great, uh, insights.

Mike: Thanks buddy. Thank you everybody. Appreciate you bunch. Thanks for joining us again. We’ll see you on the next show. Thanks for listening to today’s show. There are three ways I can help you start or grow your real estate investing business if you’re a new investor In just getting started, the Flip Nerd Investor Coaching Program is the most effective program in America.

Mike: I’ve been coaching and mentoring new real estate investors for 10 years. And my students have literally purchased thousands and thousands of properties. Many of them started with little to no experience at all. Our program is a Paint by Numbers program where we tell you exactly what to do week by week to make sure that you don’t get distracted on your way to results.

Mike: We show you how to build a real business, not just create another job for yourself. New memberships are limited. You can learn more and apply. Or schedule a call with me and my team at [00:31:00] Flip nerd.com/coaching. If you’re an experienced investor doing a minimum of 10 deals a year, up to 500 deals a year or more, or have a multimillion dollar real estate portfolio already, you should check out our powerful Investor Fuel Real Estate Investor Mastermind.

Mike: Over a hundred of the nation’s leading real estate investors are members, and it’s not uncommon for our members. To two to five x their business just from getting around other members At Investor Fuel. At Investor Fuel, each of us are business advisors to one another’s businesses, but we don’t stop at business.

Mike: We focus heavily on becoming better people and living fuller lives. If you’re looking. For fuel for your business or fuel for your life, please check out investor fuel.com. Applications and interviews are required as most investors are not a fit for our community. Please learn [email protected] if you’re not ready for coaching or [00:32:00] masterminds, but eager.

Mike: To start learning more about investing, please join our private Facebook group by visiting footner.com/facebook. New members get access to free training from us right [email protected] And it’s a community. To safely ask your questions, a great place to get started, simply go to flip nerd.com/facebook to request your access today.

Source: flipnerd.com

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