Healthy Wealth Erik Smith

EPISODE HIGHLIGHTS: Erik shares the changes with the show in the coming month such as a name change. His purpose is to provide you with the tools that are going to help you the most which is why some changes to the show are coming. There will be a new name which will be announced soon.  KEY POINTS: Erik talks about a story with a day trader and how there are times when people make money when the market is down (called shorting the market) and compares it to craps when betting against everyone but actually with the house. In that instance the odds are in the person’s favor to win but they are usually in the minority compared to the rest of the gamblers at the table. It is an interesting philosophy that shows there are many different ways to earn money    
RESOURCES MENTIONED:  Schedule a time to talk with Erik. Find Erik on Instagram, Facebook, LinkedIn and Twitter

OVERVIEW: Dr. Lindsey Marvel, optometrist describes getting into the field which was not widely accepted by her family even though she is a doctor. The focus she had growing up was on sports, especially tennis as she was a highly ranked tennis played that led to a collegiate career and school was secondary.

EPISODE HIGHLIGHTS: Being in competitive tennis allowed Lindsey to utilize her skills developed in competing directly against someone else, translated into understanding how to handle nervousness in optometry school when it came to demonstrating her capability to perform eye exams while being tested. It also helped in dealing with adversity and failure by bouncing back from difficult circumstances. Lindsey continues to visualize like she did in tennis, where it’s a process done beforehand so she is prepared for different situations.    KEY POINTS: Lindsey describes different challenges with not having equipment in certain clinics she worked at and the appropriate access to proper care right after graduating from school, especially when it was beyond the scope of her practice.  Lindsey talks about the importance of eye exams when it comes to health and catching things early, to prevent problems from happening. She describes the current process of tele-health and performing eye exams from home.  
TWEETABLE QUOTES: “The visualization part has to be early on...picturing myself doing well. Also going through different scenarios, what if this happens or that happens.” –Lindsey Marvel
“With diabetic eye disease, there are new blood vessels that form and need to be put out like a fire...if new ones form and talk to each other they can spread like a wild fire.” –Lindsey Marvel
“They never one with glaucoma because it’s the silent killer of vision.” –Lindsey Marvel
“The eye is really a window into the body.” –Lindsey Marvel RESOURCES MENTIONED:  Schedule a time to talk with Erik Find Erik on Instagram, Facebook, LinkedIn and Twitter Check out the Seva Foundation Email Dr. Lindsey Marvel Follow @lindsemarvel on Instagram

EPISODE HIGHLIGHTS: Erik shares a story of a conversation he recently had with an individual who studied finance and daily trades in the market. It was interesting to find that the individual was not aware of different financial concepts.  KEY POINTS: Erik revisits the rule of 72, the compound interest formula where we take the number 72 and divide it by the interest rate we earn on our money and it equals the number of years it will take our money to double. 

72 / % rate = # years money will double 

Erik also talks about the indexing strategy where our money is not in the market but is based on market performance and we get the growth but are protected from the downside in case the market goes down. He brings up index funds which people are familiar with where a mutual fund is composed of specially the S&P 500.          RESOURCES MENTIONED:  Schedule a time to talk with Erik. Find Erik on Instagram, Facebook, LinkedIn and Twitter

OVERVIEW: In this episode of Fitness & Finance, Kristi Lee Cronin, Cardiology Nurse Practitioner shares how she got into the field of nursing and the challenges that came along the way. Her story is inspiring because it shows that persistence pays and we cannot avoid the things that are on our hearts. 

EPISODE HIGHLIGHTS: Kristi has been into sports most of her life and believes that it is important to stay active especially since it is good for our heart. The heart is her favorite organ as it is involved in so many things and keeps us alive. She originally did not get accepted into nursing programs but knew that she always wanted to be in the field as she grew up with family members who are health care professionals. Knowing that it was meant to be she continued to pursue nursing and was accepted into an accelerated program and then practiced for over 5 years before deciding to make a change. Seeing a gap in care with patients she wanted more responsibility and control over patient care and decided to become a nurse practitioner where she is licensed and had to take board exams.  She is now able to prescribe medications in the state of Florida and has enjoys being able to provide her patients with the care needed and specializes in cardiology because the heart is very important for living.  KEY POINTS: Kristi is very resourceful and talks about being able to adjust her lifestyle during nurse practitioner school in order to minimize the amount of student loans she needed during that time and how she was disciplined in paying them off. Sticking to a school is also what allows her to accomplish a great deal as she is also a wife, mother of two, and also wrote a book Black Balloons. In the book she describes how using and strengthening her faith got her through difficult challenges (black balloons).
RESOURCES MENTIONED:  Schedule a time to talk with Erik. Find Erik on Instagram, Facebook, LinkedIn and Twitter
Visit KristiCronin.com – Book Available Here! Find @kristileecronin on Social Media
 

OVERVIEW: Erik talks about the news of Kobe Bryant’s death and what it means to him and the lessons learned from the tragedy. Unfortunately it takes tragedy to bring people together and appreciate one another as we need to tell people how we feel about them always because we do not know how long we are going to live. 


EPISODE HIGHLIGHTS: It’s is important to appreciate and love people because we never know what is going on in each other’s lives as our time is limited. We often take time for granted so it is a must that we live our lives the way we want to live them and not care what others think.   This is our one opportunity to truly be happy and maximize every single moment of every day the way we want to. Being present is important as we value our experiences so we need to put our all into everything. Going through the motions and “killing time” does not serve us nor those around us.  KEY POINTS: Our legacy is to advance life and set the next generations in better positions than we are currently in. It all starts with ourselves and everything that we do. We need to treat our lives like they are valuable and do better in our health and finances.             RESOURCES MENTIONED:  Schedule a time to talk with Erik. Find Erik on Instagram, Facebook, LinkedIn and Twitter

OVERVIEW: In this episode of Fitness & Finance, real estate investor Vee Khuu shares his experiences getting into real estate investing as an immigrant from Vietnam in the midst of the 2008 financial crisis, the benefits of investing out-of-state, tax liens & more. 

EPISODE HIGHLIGHTS: What was Vee’s upbringing like, especially as an immigrant from Vietnam?  Vee grew up playing volleyball and has become a volleyball coach here in the US.  Vee read Rich Dad, Poor Dad by Robert Kiyosaki, which led him to workshops and coaching in real estate.  When Vee got involved in real estate it was in the middle of the 2008-2009 financial crisis, with tons of foreclosures, so he was interested in buying wholesale from foreclosures.  He found a coach and bought his first property in only three months, and that was only five years after he came to the US.  As someone new to the country, Vee developed the confidence to pursue this line of work after he invested so much money into the coaching that he had nothing left to lose.  Vee learned that he didn’t need any liquid cash in order to make an offer to buy a property, he only needed to put earnest money down once an offer is accepted and contracts are signed, at which point Vee had time to flip the contract and sell the property to turn a profit.  After his second-ever deal went badly and he pulled out of it, Vee and his business partner bought a house to flip themselves.  Ten years later, Vee is interested in out-of-state investing.  Looking ahead, Vee wants to get into commercial investing, maybe with an apartment complex.  To build a team in a new market, Vee suggests doing a lot of research about job growth, population growth, and other data about the area to identify where to search for properties.  You can determine comparable rent in the area by asking other property managers in the area, going to Zillow.com, or RentOMeter.com.   Another option for getting to know an area is to do “mystery shopping,” by calling numbers on for sale signs and saying you’re an out of town buyer looking to move to the area.  People who are interested in investing in real estate but who don’t have a lot of time to wait on the market or shop around because they’re nearing retirement, Vee suggests finding a business partner.  Another option is a tax lien certificate where the government is your debt collector, but it requires a property where someone has defaulted on their property tax.  Vee’s podcast, Real Estate Lab, aims to give you the information you need about real estate investing to earn enough to quit your job.  3 KEY POINTS: Vee met his coach and others who helped him in his career—including Erik—through networking alone.  Out-of-state investing is great because if you make a mistake, it is potentially a smaller financial risk.  Figure out how much cash flow you need and profit you need to make from a property as your baseline so you can determine what deals are a good fit for you. 
TWEETABLE QUOTES: “I was young at that point. I was young and stupid. I didn’t care. I didn’t have anything in the back of mind that this was not going to work. I knew it was gonna work because we bought it cheap, we knew the number, we had our mentor, there was no way that I could be wrong.” –Vee Khuu
“You can live in SoCal and invest elsewhere. You can go to Detroit, buy a $20-30,000 house and get in $800-900 rent per month. Or you can go to Memphis, same thing. Those are towns you may not want to go in, but people live there. People have jobs there and they need to rent somewhere.” –Vee Khuu
“If you want to invest in real estate, I would say invest for cash flow and be an investor not a speculator. You do not want to speculate because you will lose a lot faster than you will win.” –Vee Khuu RESOURCES MENTIONED:  Schedule a time to talk with Erik. Find Erik on Instagram, Facebook, Linke