Welcome to Grow Money Business with Grant Bledsoe, the podcast dedicated to helping business owners grow their wealth and business on their own terms. Grant is a CERTIFIED FINANCIAL PLANNER™ who helps business owners optimize and align their personal finances, business, and values. He’s also the founder of Three Oaks Capital Management, a registered investment advisory (RIA) firm. Throughout this podcast Grant will be interviewing entrepreneurs and business professionals to bring you valuable ideas to help you grow your business & wealth.
Using Entrepreneurship For Good With AnnMaria De Mars
Entrepreneurship is one of the best ways to change the world around us, and there’s a lot to learn from entrepreneurs who are building businesses that solve problems that exist in their communities. This week on Grow Money Business we’re joined by AnnMaria De Mars, the founder and president of 7 Generation Games, an educational software company that focuses on creating video games to teach math to kids and students. Throughout the episode, we dive into AnnMaria’s journey and how she’s using entrepreneurship to create a positive impact on the world.
[02:30] From Academics to Entrepreneurship – AnnMaria shares how her interest in mathematics helped her evolve into a serial entrepreneur.
[11:22] Video Games – AnnMaria explains what led her to start her venture in creating video games to teach mathematics.
[19:31] Solving Problems – AnnMaria shares what motivated her to develop businesses in a way that solves problems and helps people in rural communities.
[24:32] Building the Business – AnnMaria discusses how she gathered the required funding and other resources to build her business.
[28:38] Current Progress –AnnMaria describes her organization’s current performance, growth, and plans for the future.
[34:43] Sports – AnnMaria is a national champion in Judo. We talk about how she got into Judo and the profound impact of sports on her life and the lives of her children.
[46:31] Business and Life –AnnMaria explains how her risk tolerance evolved with her personal priorities.
[51:22] Fundraising for Startups – AnnMaria shares some of the ways startups can raise money with the help of people in a community.
7 Generation Games:
AnnMaria On LinkedIn: www.linkedin.com/in/annmaria-de-mars-3549606
Expanding Your Estate to Other Countries with Mikkel Thorup
If you're interested in the advantages of foreign diversification for asset preservation and estate planning, then this is the conversation for you. This week's guest on the show is Mikkel Thorup, the CEO of Expat Money™, a consulting advisory organization that assists individuals with foreign asset diversification. Mikkel assists clients in relocating their wealth out of the United States by helping them establish offshore trusts and foundations and facilitating foreign investments. In this episode, we explore how you can expand your estate beyond your home country's limits.
[02:34] Background – Mikkel summarizes his journey thus far by discussing his work, his clientele, and the source of his exposure to the industry in which he currently works.
[15:37] Asset Protection – Mikkel goes over the basics of asset protection, including what it is and how it operates.
[21:12] Trust vs. Foundation – Mikkel discusses trusts and foundations, as well as how his consulting firm helps its clients with these types of frameworks.
[26:46] Be Aware - Cross-border issues and scammers are a perennial concern in modern society. Mikkel outlines where people go wrong, what mistakes might be made, and what must occur to move assets overseas.
[32:28] Residency vs. Citizenship – Mikkel offers a comprehensive breakdown of the concepts of citizenship and residence in a foreign country.
[39:36] Opportunities – Mikkel explains his overall philosophy and strategy, as well as the process by which he sources opportunities for clients.
[43:35] Selections – Mikkel outlines how he decides which jurisdictions to work on or within.
Mentioned in the episode:
Expat Money Summit 2022: expatmoneysummit.com
Connect with Mikkel:
Here's What Happened During the Meme Stock Rally of 2021
You may recall that at the beginning of 2021, the stock prices of AMC and GameStop skyrocketed. There were numerous news articles about people driving up the prices of companies that were not otherwise exceptionally profitable investments. This week on the podcast, Grant dives deep into what caused t Meme Stock Rally of 2021, as well as the importance of investing our portfolios as prudent, long-term investors.
[03:20] Meme Stock Rally - Grant recalls the events that transpired during the 2021 Meme Stock Rally involving AMC and GameStop.
[10:41] Two Options – Grant explains how short-selling stocks and the options market are the two most common ways to wager against a company.
[21:05] Changes - Grant outlines in broad terms how AMC and GameStop have changed as a result of this chain of events.
[26:22] Research – Grant presents the conclusions of the in-depth research that was conducted on the Meme Stock Rally at both the SEC and Harvard.
[34:30] Lessons – Grant explains how the Meme Stock Rally serves as an excellent lesson on time horizon and irrationality, illustrating how wise investors should consider investing in their portfolios.
Did Pandemic Stimulus Funds Spur the Rise of 'Meme Stocks'?: hbswk.hbs.edu/item/did-pandemic-stimulus-funds-spur-the-rise-of-meme-stocks
How AMC rode the meme stock rally to revitalize its business: cnbc.com/2022/01/26/how-amc-rode-the-meme-stock-rally-to-revitalize-its-business.html
Robinhood almost imploded during the GameStop meme stock chaos: techcrunch.com/2022/06/27/robinhood-report-meme-stock-gamestop/
Robinhood and CNBC's Jim Cramer fuel stocks for "stimmy" rally: cbsnews.com/news/robinhood-jim-cramer-stimulus-stock-market/
Stock Market Stimulus: hbs.edu/faculty/Pages/item.aspx?num=62111
Everything You Need to Know About Biden’s Student Debt Forgiveness
Last week, President Joe Biden announced a new student loan relief program that promises to cancel $10,000 of student debt for low- to middle-income borrowers. Since then, this topic has become somewhat controversial and has ignited a fair amount of debate online. This week on the podcast, Grant dives into the provisions of this new student loan relief program, eligibility criteria, and some of the planning opportunities that have emerged from the program.
[03:31] Background – Grant shares the details of President Biden’s new executive action and why it’s considered controversial.
[06:35] Qualified Loans – Grant explains the types of loans that are qualified under the provisions of the student loan forgiveness program.
[08:42] Income – Income is the most prominent factor that determines eligibility for loan forgiveness. Grant breaks down the numbers of the income levels that qualify for this program.
[14:05] Income-driven Payments – Grant shares his thoughts on the differences between income-driven payment programs that were introduced earlier and President Biden’s new program.
[20:00] Planning Opportunities – Grant discusses some of the tax planning opportunities that may allow you to qualify for the new loan forgiveness program.
[29:58] Earlier Programs – Grant shares some highlights of the provisions that were included in the income-driven payment programs that were introduced earlier.
[35:00] Enrolling in a New Program – Grant shares his take on the pros and cons of enrolling in a new income-driven repayment program.
FACT SHEET: President Biden Announces Student Loan Relief for Borrowers Who Need It Most
Biden-Harris Administration Announces Final Student Loan Pause Extension Through December 31 and Targeted Debt Cancellation to Smooth Transition to Repayment
The Long Term Care Insurance Landscape With Matt McCann
The need for long-term care has been steadily increasing over the last decade, primarily due to our aging demographics and retiring baby boomers. This week on Grow Money Business, we’re having a conversation with one of the nation’s leading experts in long-term care insurance. Matt McCann, the managing editor at LTCNews.com, and Principal Owner/Long Term Care Planning Specialist at McCann Insurance Services, joins us today to dive deep into the structure of long-term care insurance policies, available options, and some opportunities to reduce the costs associated with long-term care insurance.
[02:05] Matt’s Journey – We start the conversation with the story of how Matt started his career in radio and transitioned into insurance.
[05:28] The Need for Long-term Care – We dive into how the changes in our population have increased the need for long-term care for many people and how different states are responding to this situation.
[15:09] Insurance & Financial Planning – Mat shares his thoughts on the costs associated with long-term care and how these costs affect the financial strength and investments of a person.
[23:40] Regulations & Pricing – How the regulations related to long-term care insurance have been updated in recent years and the changes in pricing models that followed.
[30:57] Tax-free Exchanges – Matt dive into the process of a tax-free exchange, which allows life insurance policyholders to get long-term care without actually writing a check.
[34:37] Insurance for Business – How long-term care insurance in a business setting and the tax benefits business owners can get by arranging long-term care insurance for their employees.
[42:03] Family & Emotional Impact – Matt dives into the emotional and family-related concerns that could be solved by planning long-term care insurance and how insurance relates to retirement planning.
[45:52] Options for Long-term Care – Matt discusses several options available for people who are in need of long-term care.
Connect with Matt
The Back to Front of Cryptocurrency Taxation with Micah Fraim
Cryptocurrency as an investment is relatively new, especially compared to other investment vehicles such as stocks and bonds. Because of this, there is a lot of confusion and a lack of guidance around how taxation applies to cryptocurrency-based investments. This week on Grow Money Business, we are joined by Micah Fraim, a Certified Public Accountant who specializes in crypto taxes. Throughout the episode, we take a dive deep into the tax aspect of cryptocurrencies, NFTs, and other blockchain-based assets.
[02:01] Getting to Know Micah – We start the conversation with a brief look at Micah’s career and how he got into his current line of work in taxation for cryptocurrency.
[04:12] Taxation for Crypto – Micah dives into the limitations of our current tax system in relation to cryptocurrency and virtual assets, as well as some of the attempts that have been taken to introduce legislation related to cryptocurrencies.
[10:45] Tax Basics – Grant and Micah discuss some of the most basic tax concepts related to investments and how they apply to cryptocurrencies.
[15:47] Opportunities – Micah shares some of the opportunities that arise along with a crypto bear market.
[25:31] NFTs – Micah explains the current tax code’s application to NFTs and how the wide range of use cases available for NFTs will call for more advanced tax rules.
[30:44] Play-to-earn Games – Micah shares his thoughts on how games are introducing new in-game economies and how they are connected to crypto investments.
[35:38] Tracking Crypto Transactions – Micah discusses how to track crypto transactions across multiple trading platforms for taxation purposes.
[42:06] Audit Risks – Micah dives into the risks that could arise from irregularities in crypto transactions that are reported to the IRS.
[44:41] Crypto as Payments – Grant and Micah discuss some important considerations for business owners who are accepting payments in cryptocurrencies and how it may affect business operations.
[50:00] Future of Crypto – Micah shares his thoughts on how cryptocurrency projects may evolve in the near future, as well as how the regulations may be adjusted to match the innovations in the crypto space.
Connect with Micah
Decrypting Crypto Taxes: The Complete Guide to Cryptocurrency and NFT Taxation
The Little Big Small Business Book
Great range of financial topics, presented in an accessible and engaging manner. Highly entertaining and informative!
Great advice on money!
Trolling for liberal votes.