Thank you, Jeremy, for a great conversation.
ABOUT THE EPISODE
Welcome to the Freedom Point Real Estate podcast! Jonathan DeYoe, a two-time bestselling author, joins Drew McWilliams in today’s episode to share insights on financial education, planning, and the true value of a financial advisor.
Jonathan DeYoe, author of “Mindful Money,” brings over 40 years of investment experience to his role leading a Bay Area wealth management office. He advocates for financial education and fiduciary responsibility, emphasizing goal-driven financial planning over market-focused strategies. Through his podcasts and advocacy, he promotes a mindful approach to personal finance. DeYoe resides in Berkeley with his family, blending financial expertise with a background in philosophy and religion.
Summary
Tip #1: Seek Guidance from Experts
Jonathan’s journey underscores the importance of seeking guidance from experts in financial planning. He emphasizes the role of financial advisors as coaches who help individuals define their goals, create actionable plans, and stay committed to their financial journeys.
“What a good adviser is, is a coach that helps you figure out what you want, helps you build the plan to get there, and then helps you stay on the path of that plan.”
Tip #2: Invest in Financial Education
“We’re in an opportunistic fund, bringing in opportunities for financial relief to performing assets.” The conversation unveils the significant debt coming due by 2025 and the opportunistic approach of Starting Point Capital’s funds, allowing swift acquisitions and calculated returns on investment.
Tip #3: Take Action to Save and Invest
Highlighting the importance of action, Jonathan urges individuals to prioritize saving and investing. Whether through increasing income or reducing expenses, taking proactive steps towards financial security is key.
“The ability to save is a function of both earnings and reducing spending.”
Tip #4: Review and Adjust Retirement Plans
Jonathan emphasizes the need for early engagement in retirement planning discussions. He suggests regularly reviewing and adjusting retirement plans to ensure they align with changing lifestyles and inflation.
“The primary question for 95% of clients revolves around retirement income that rises to meet rising costs and lasts a lifetime.”
Tip #5: Evaluate Advisor Compensation Structures
Encouraging a critical evaluation of advisor compensation structures, Jonathan advocates for transparency and fairness. He suggests exploring fee models that accurately reflect the value provided by financial advisors.
“Charging based on a percentage of assets managed may not reflect the true value of financial planning.”
Tip #6: Embrace Mindfulness in Decision-Making
Highlighting the role of mindfulness, Jonathan encourages individuals to cultivate self-awareness and clarity in financial decision-making. Mindfulness practices enable individuals to navigate uncertainties with greater ease.
“Understanding your biases and quieting internal monologues can enhance decision-making and financial outcomes.”
Tip #7: Cultivate Resilience in Career and Life
Reflecting on career highs and lows, Jonathan underscores the importance of resilience. He emphasizes the need to let go of past regrets and embrace challenges as opportunities for growth.
“You have to let stuff go and understand how your brain works.”
Tip #8: Stay Informed and Engaged
Encouraging individuals to stay informed and engaged in financial matters, Jonathan emphasizes the value of continuous learning. He invites listeners to connect with resources like Mindful Money for accessible financial education and coaching.
“Visit mindfulmoney.com to explore coaching programs and educational resources.”
Tip #9: Plan for Financial Independence
Jonathan stresses the importance of planning for financial independence. He encourages individuals to set clear goals and develop strategies that allow them to achieve financial freedom and live life on their own terms.
“Financial independence is about setting clear goals and developing strategies to achieve them, allowing individuals to live life on their own terms.”
Tip #10: Foster a Growth Mindset
Highlighting the significance of mindset in financial success, Jonathan advocates for fostering a growth mindset. He encourages individuals to embrace challenges, learn from failures, and continuously seek opportunities for personal and financial growth.
“Fostering a growth mindset involves embracing challenges, learning from failures, and seeking opportunities for personal and financial growth.”
ABOUT JEREMY DYER & THE FREEDOM POINT PODCAST
Join Jeremy Dyer and Drew McWilliams as we talk about creating more time freedom through passive real estate investing.
Passive investing in real estate challenges conventional investment wisdom. We are passionate about learning and sharing resources with others who are ready to transform their investing mindset.
We created The Freedom Point Real Estate Podcast to educate you on passive investing in real estate – whether that’s actively or passively, residential single-family homes or commercial apartment buildings. Our focus is essentially anything that has to do with acquiring real estate to build your passive income and making investments that move you towards reaching your Freedom Point, the point to which you reach your version of time and financial independence.
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