97 episodes

A semi-monthly podcast that brings you advice and interviews with experts on various important topics to help you make better and smarter financial decisions in order to improve or maintain your financial situation.

Financial Freedom Podcast Steven J. Richardson, Esq.

    • Education

A semi-monthly podcast that brings you advice and interviews with experts on various important topics to help you make better and smarter financial decisions in order to improve or maintain your financial situation.

    Episode 98: Expanding Your Business with Somnath Sikdar

    Episode 98: Expanding Your Business with Somnath Sikdar

    There is a popular saying among entrepreneurs that most people don’t go out of business, they grow out of business. This can be due to several factors, including whether to expand at all or just raise prices with demand, whether or not the proper systems are in place pass off effectively to employees those things the owners did themselves, and whether the markets they’re expanding into have the requisite demand to produce the desired profits.
    That’s why in this episode of the podcast I talk to Somnath Sikdar who, along with his business partner Lonnie Beck, successfully expanded their martial arts school, Dragon Gym, from one location in Exton, PA, to two more in Berwyn and Malvern.

    • 48 min
    Episode 97: Talking to Your Kids About Money

    Episode 97: Talking to Your Kids About Money

    According to the book, The Millionaire Next Door, seven out of ten American Millionaires are first generation. Unfortunately, this means that 70% of the time, the money mindset that made them rich never got passed down to continue the financial winning streak.
    That’s why in this episode of the podcast I decided to discuss how people can communicate money matters to their children and teach them lessons that will increase the likelihood that they will continue on to financial freedom in adulthood.
    In this episode you will learn:
    How to start the conversation with a child as young as 5 Talking to pre-teens about money Getting your child to think like an entrepreneur Getting your child financially ready for life

    • 17 min
    Episode 96: Getting Your Money Ready for Marriage

    Episode 96: Getting Your Money Ready for Marriage

    Getting married is a big step. You are making a lifetime commitment to another person that will be tested in so many ways over time. One of those ways is financial stress, which has caused problems in many marriages, and ended many others, so how you prepare for it before the wedding becomes very important.
    Because this episode is being released on January 10, 2020, 33 years to the day from when I proposed to my wife, I thought the perfect topic would be a discussion of what a couple should do, from a financial standpoint, to prepare for the big day and their lifetime together!
    In this episode you will learn:
    The 4 Financial Issues to Discuss Before Marriage The 5 Money Mistakes That Can Destroy a Marriage Prenuptual Agreements How to Spend Money Wisely on the Wedding

    • 14 min
    Episode 95: Educational Savings Accounts with Michael Karwic

    Episode 95: Educational Savings Accounts with Michael Karwic

    In Episode 42 of the podcast I talked about how to use a particular type of savings account (referred to as a 529 account) to save for your children’s education. I gave some general information and urged people with children to look into them. However, I always wanted to revisit this topic later for a deeper dive.
    That’s why on this episode of the podcast I talk with Michael Karwic, a Certified Financial Planner in Pennsylvania, to take a more in-depth look at educational savings accounts to help you get started in saving for your children’s future!
    In this episode you will learn:
    What is a 529 Fund? How do you set one up? Who can set one up? Is a 529 plan right for everybody? If not, what alternatives are out there?

    • 45 min
    Episode 94: Tyson Franklin on Selling Your Business

    Episode 94: Tyson Franklin on Selling Your Business

    The retirement plan for a self-employed individual is often different from those who work for someone else. If it is a small business, it usually doesn’t have a pension plan or a 401(k), although the owner can set up an IRA and an SEP to put money aside.
    What the plan does include that makes it different is what that person does with their business upon retirement. Do they shut it down, pass it on to their children, or sell it to their partners or a third party? So in this episode of the podcast I talk to Australian podiatrist and entrepreneur Dr. Tyson Franklin for his tips on how to prepare your business for eventual sale, come up with a price, and find a buyer.
    In this episode you will learn:
    How to prepare your business for sale How to set your price How to find a buyer

    • 48 min
    Episode 93: Practical Tips on Buying and Owning a Car

    Episode 93: Practical Tips on Buying and Owning a Car

    As we enter into the December holiday season, many people look to purchase a new car, as manufacturers advertise heavily in the media offering lots of deals to encourage you to buy. Toyota, for example, often holds their “Toyotathon,” which ends soon after the first of the year.
    For this reason, in this episode of the podcast I talk about the best way to choose the right car, shop for it, and make sure you end up with a monthly car loan payment you can afford and that won’t break the budget. Bear in mind, however, that this is about a car purchase, not a lease, as it is my firm belief that a “buy and hold” approach to cars is better for your long-term financial freedom.
    In this episode you will learn:
    How your credit score affects your car payment How to choose your car before you go to a dealership (and why you should) How to determine the cost of operation of the vehicle How to shop for the vehicle

    • 20 min

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