Generating More Money with Send Out Cards with Jordan Adler.

   You know we are in a formal recession as of July 1, 2022. You must do something about it, and so many people methodically do nothing about it. I love that, regular contributor and featured writer for Networking Times, the #1 network marketing magazine, Jordan Adler’s topic is everything about money because most people do nothing about money. A lot of it is they don’t know what to do, and they’ve been highly, significantly mislead.

    Jordan told me that one of the things that are clear to him is that when somebody starts to make money, even if it’s a little bit of money when other people find out they’re making money, then everybody comes to them with ideas, even business startup ideas. 

    Jordan says that a lot of reasons people go broke when they become entrepreneurs is because, for example, athletes and entertainers, think they’re smart, and they begin investing in businesses, and before they know it, they lose all their money. Jordan asked me to elaborate on this.

    I’ve started a new company called Financial Fitness Trainers, and it’s targeting, specifically student-athletes and athletes, coaches, and their wives. Especially those who get really big paychecks. Because what we're not taught is if you want to make money, you go be an entrepreneur. We are taught if you want to make money, you go get a job, and if you want to make more money, you go get another job. What no one teaches you is, that job money, that employee money, and is a worldwide problem, it is the highest taxed money you could ever make.  So why would you want to go and make the only kind of money or the biggest money that is the highest taxed?

    So, athletes, entertainers, and all of Hollywood, all of them have the same problem because most of them have jobs, they’re not paid company to company relationships. So, I really start with the education of how you get paid, is where it all begins. Here’s the easiest terms I use – companies make money, individuals get taxed.

    So, if you’re being paid as an individual into your personal bank account, you’re going to have the highest tax and the worst quality of money. If your company, your LLC, S Corp, your C Corp, your trust, if the company makes money, then you get to deduct. People aren’t taught that. The athletes, the entertainers, the high paid coaches, that group of people, they have no idea how badly they’re being taxed. You know 97% is the statistic of people who make big money like that, whether it’s pro athletes, Hollywood, all lose their money.

    Jordan said that the reason is because they haven't been educated. They’re not savvy when it comes to business, they’re savvy when it comes to entertainment or football. He said he found himself in that category, where at the beginning he started making all this money, and he thought he was smart, and then he started throwing his money into different projects and losing the money because he didn’t have the financial savvy he needed to learn. 

    There are really three sides to that problem. Learning to make the money is some of the hardest work you'll ever have to do. It’s becoming an entrepreneur, because it’s not naturally taught. And then once you have it, learning how to invest it is a different game. That’s a totally different strategy then how you made it. Because now you’re entrusting a team. Does the team know and have a huge history? I’m not talking they’ve done one or two deals; they've done five, ten, fifteen deals successfully. They have documents to prove it. They have the bank accounts to prove it. They have the tax returns to prove it. They’ve taken investor money, paid people back properly.

    It’s what’s no one is teaching. Most people do what I say and park and pray when it comes to the investing side. They make money, go with a financial planner, and pray to God something’s gonna happen.

    In a market like now, we’re down 20-30%. It’s not going to get better. Crypto is not going to get better. It’s really a rock n’ roll market right now, and real estate is not stopped, it’s adjusted greatly. Everything’s adjusted as of July, and official “recession” was announced, interest rates went up, we have inflation. All these new variables and people don’t know what to do. So, they either do nothing or they just continue to make uneducated mistakes.

    For someone who is making $300-400 a month in their entrepreneurial endeavor, my advice to them would be to make it a formal business. Don’t run it as a sole proprietor, or some extra side hustle. Treat it like a real business and make it your whole focus. Most people are strengthening they're about debt and expenses, they’re not strengthening their income. They're not focused on generating any more money. So, somebody who's making $300-500, I would say let’s go double it. And look at starting the proper entity. I have a whole team who can tell you the right company to start and treat it like a real business and have the money go into a proper company bank account, so you can take proper deductions. The financial systems reward good behavior. They actually like when you make and spend money.

    If you go to my YouTube channel and you look up what I teach about credit card use, I’m a massive “Yes” to credit cards. Use them. Use them properly. Get the points. There are so many benefits of your credit. 

    For those that have struggled with money most of their adult lives and have tried and failed at least ten different entrepreneurial endeavors, I would recommend they get a coach and mentor. I’ve had one since I was 17. The reason why nothing works the first time is because you don’t know how to do it. Most people don’t make money the first time. You’ve got to learn about it. You don’t go figure it out alone. You get a mentor. Duplicate what they’re doing and stay with it.

    Jordan asked me what I would say to someone who has $350,000 in equity in their home right now.

    My answer is, you’ve got to get educated. Because if you just take out a HELOC, or refinance and take say, $50,000, $150,000, $200,000, or any of it, and just don’t know what you’re doing, you’ll end up losing it. And already you’re in a good solid asset, so either keep the equity and run, or I always partner with people, because you always reduce the risk. And I always do deals with people who have had lots of success. For a lot of people who have that kind of equity or even some sort of a nest egg of anything in 401K, you gotta learn. You just can't park it with some financial planner who maybe is making $50-60,000. So, for a lot of people, it’s right in front of them, they just don’t take the steps. For whatever the reason with money, people resist getting educated about it.

    My mission is, I want to teach you about money in a way that you have never been taught. I don’t use all the theoretical terms; I don’t use all the derivatives. I don’t use the formal financial terms; I use very common sense. As my son, Logan calls it, “common freaking sense.” I break it down into daily knowledgeable, easy behavior implementation tools and skills. I think I make things so practically obvious, versus big theory. My mission is to change your conversation about money, so you stop freaking out about it, and you have a whole bunch of it. I want to wake you up. Like get out of the Covid coma, it’s over. The pandemic is behind us. The recession is today. Let’s wake up and get back to having some fun and success!

    Jordan asked me what happens to those families who don’t plan for the inevitability of their passing, and there’s fighting, and the family structure falls apart completely.

    Without any structure, it’s going to the state. That’s a worldwide principle. So, without a trust, not a will, a trust, it goes wherever you live. They decide and it takes between 18-24 months. The court takes 40-50%. Why would you give half your money to the state versus to those people you love or to charity? Do something responsible with it. Don’t leave your family a mess. Don’t leave them to untangle whatever you did in your lifetime. It’s so disrespectful to have to leave your kids a huge pile of a mess.   

    Jordan said that there’s a way to set it up now so that during probate, the government doesn't take half your money, and it make it much, much, much, simpler for people that are surviving. If that’s not setup, it is somewhat irresponsible because they have to deal with your mess.

    And the mess could look like you don’t know where your stock certificates are. Where your real estate mortgages are or how they were paid. You don’t know whether you have loans out or not. The biggest cardinal sin is so many say my lawyer and accountant are handling it. No, they’re not. They aren't going to handle it. At the end of the day, it’s not their responsibility, it’s yours. It is your money. It is your family. What a lot of them will do, because they aren't in the business you were once in, they do a sell off. I see it over and over again, it happens to so many women that are left where the man was the plan, and now they have all the money. The money goes away because they do a sell off, and now there’s a big tax burden.

    What a lot of people avoid or ignore is the tax side of it. Dying is expensive. I take a huge stand. And being a single mom is what caused me to have so much passion about it. I know what it took, and it was not easy. It was not easy in a man’s world to get a lot. Not a lot of women take a stand the way I took a stand. Not only women but families. It’s time for them to grow up. And it’s not difficult. It’s different, it’s not difficult. My goal and mission for people is to teach them enough that they lead the team. The team doesn’t lead you. You’ll collaborate with team, but they’re not gonna tell you what to do, and you just hope it all works out.

    We’re going to take about tis and a lot more at the GenW Conference coming up October 26-28 at the Grand Sierra Resort in Reno, Nevada. I’m gonna lead with my master versus mediocre conversation. What are you here to do? What is your mission? We’re also going to talk about the checklist in my new book, Make Your Kids Millionaires. How do you start talking about money in your family if you’ve never had it. Jordan will be taking the stage, along with people talking about a variety of different situations.

    The reason why I want to use families to share the message, is because there isn’t one size fits all. There are so many ways and creative ways to decide what you want to do with you and your family and the legacy you leave. That’s on October 26.

    On October 27, you’re going to meet the corporate structure, corporate compliance, the trust team, the funding team, the insurance team, the tax team. We’re going to show you that you can actually lead a team, you can have a plan, and you’ll get as much done as you can in the room.

    We’re probably going to be right around 140-150 people join us and it will not be live streamed for the confidentiality and safety zone of the room.

    And the highlight on the 28th is Tom Zigler, Zig Zigler’s son is coming to give the final legacy keynote address.

For more information, visit www.genwconference.com