Two Types of Money

Episode 31:

A big part of what makes us uncommon as wealth advisors is our focus on putting your money to work for you before age 65, not after. You’ve got big dreams for the here and now. And here’s the thing: YOU are your greatest asset. We think that investing right now in you and your dreams is the way to gain dividends now and into your bright future.

In Episode #31 of the Uncommon Life Project podcast, Bryan and Phillip discuss the two types of money: now money and later money. How do you look at your dreams for the present without stealing from retirement? There are so many ways to grow your wealth besides a 401(k) or IRA. There are strategies that help you grow your money so it is not all stockpiled into that bucket you can only access later.

It’s good to delay gratification, so this is not about having access to your money so you can throw it away. It’s about investing in things that make sense now and in the future. It’s about NOT delaying the things you are most passionate about. It’s about growing your now money so you can design the life you want for now and into the future.

What You Will Learn in this Episode:

  • How to create time and money freedom in your life before age 65
  • Why an employer match contribution is no reason to stay in a job you don’t love
  • How to create the equivalent of an employer match by the way you invest
  • Why, “When do you want to retire?” is not the best question to ask
  • How to invest in your greatest asset: YOU
  • Why interest rate is not the only consideration when looking at savings instruments vs. debt instruments
  • How to design your life with time and financial freedom
  • Why the stock market should not be held up as an example of compound interest
“I think our industry does a horrible job of making it extremely clear that 401(k)s and IRAs separate people from their money for literally decades.” – Bryan Dewhurst Click To Tweet “When would you like to have time freedom in your life, where you have money coming in to cover your basic expenses, so you can do what you'd like?” – Phillip Ramsey Click To Tweet “There are other ways you can get the equivalent of an employer match. Real estate investment is one example of an investment that helps your savings and your cash flow. And you have access to it right now.” – Bryan Dewhurst Click To Tweet “Your biggest asset is you and what God has designed you to do. When you're doing that, it doesn't feel like work. That's when you're most on fire and the most attractive, and you can earn a premium for what you were made to do.” – Phillip Ramsey Click To Tweet “Where is your money really going? Can you access that money before age 65? You need to analyze, does this align with your goals? Because a lot of times it doesn't.” – Bryan Dewhurst Click To Tweet “We're advocating for what we call smart transition. Not just quitting your job and hoping for the best. Test your ideas while you still have the day job, and plan your transition to the dream that doesn’t even feel like work.” – Phillip Ramsey Click To Tweet “What retirement is, it's really financial freedom, which gives you time freedom. Really what we're talking about is being able to design the life you want to live.” – Bryan Dewhurst Click To Tweet “There are other ways to make money. There are other ways to invest the profit from your labor that have a bigger wealth impact than just putting money into the stock market.” – Phillip Ramsey Click To Tweet “With a 401(k) you have to hope the market has not taken a dive just at the time you are ready to access that money.” – Bryan Dewhurst Click To Tweet