Tag Archives: money

Episode-2273- John Pugliano and Jack Spirko on The Richest Man in Babylon

I reached out to expert council member John Pugliano about doing this episode with me.  I feel the biggest weakness in what our young people are not taught today, above all other things how to handle, earn, manage and invest money.   While not the end all be all, I find The Richest Man in Babylon to be one of the best foundations on how to think about money ever written.  John and I break this classic down today using the following outline of some of the main concepts presented in the book.

There are also some surprises in today’s show, a phone call from Patrick Roehrman, the arrival of Nick Ferguson and more.  John and I did this recording at my kitchen table while he was visiting for the 10 Year Anniversary Party.  Lots of other TSP folks were on the way in, so rather than edit out the disruptions we rolled with them.  It makes for a fun show.

SUMMARY: Richest Man in Babylon

5 Laws of Gold (my version: money flows to where it’s treated best)

  • 1. Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.
    • a. A portion is yours to keep.
    • b. 10%….my recommendation is 20% (in modern times, taxes eat up too much real income)
    • c. SAVE before you start to think about investing.
      • i. You can’t take advantage of Opportunity unless you have resources
        1
  • 2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
    • a. Money likes to “work” and doesn’t complain about being a “slave”….it works without compensation.
    • b. Money has no mind…YOU must find it profitable employment.
    • c. Magic of compounding interest…money multiplies.
      • i. Law of 72
        1
  • 3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.
    • a. Emphasize “protection” & “cautious”.
    • b. Be patient and disciplined….it takes TIME.
    • c. Invest vs Speculate (4th part of my book)
    • d. Seek out wise men…mentors. (take an old guy to lunch)
      • i. Knowledge in a specific field.
      • ii. Ignore ideology or imperfections…avoid Hero Worship
        • e. If times get tough or even if they don’t.
          • i. Plan for prosperity and failure…within your sphere of influence & control.
          • ii. If you have dependents buy term life insurance.
            1
  • 4. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep.
    • a. You have to fix Stupid before you can fix Broke.
    • b. Don’t take advice from Stupid or Broke people.
      • i. Advanced advice: avoid these people all together.
        1
  • 5. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.
    • a. Reality: lots of people are trying to screw you.
    • b. You’re NOT that smart.
    • c. Diversify because you’re going to have LOTS of failures.

Work – The Generator of Weath

  • 1. Wealth comes from work.
  • 2. First learn to work, then learn to have others work for you.
    • a. Start with what you know, where you are.
    • b. Story of Baker looking to buy a slave.
      • i. You can buy your own freedom.
      • ii. Work to acquire experience.
  • 3. Money is your ultimate slave.
    • a. The Boss/Owner has money, the Employee is broke.

Debt – The Enslaver of the Fool

1. Magic of Compounding Interest working against you.
2. Debt is SLAVERY…period.

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Join the MSB Today

Join the MSB Today

Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1850- Getting Started with Bitcoin and Ether

coinbase

Coinbase is the Safe and Easy Way to Get Started with Bitcoin

Today I am going to go into the basics of what Bitcoin, Ether and other alternative currencies are, how they work, why they work and how you can use them.

I am not and I do not claim to be an expert on alternative currencies.  What I do have is an exceptional understanding of money and economics, and while Bitcoin and other alt coins are not “money” as defined by the US Government (which is good by the way), they are in fact money and every bit as legitimate as the US Dollar, in fact as you will see today perhaps more so.

My hope at the end of the show today is that if you want to use bitcoin you know how to and can do so without fear.  To dispel the continued propaganda myths around alt currencies and to dispel the dumbest myth of all, that Bitcoin is akin to virtual Tulip Mania.

Join Me Today To Discuss…

  • First how conventional money works
    • Monetary Creation
    • Where the “value” comes from
    • Why this insane system does in fact work
  • How Bitcoins are “mined”
  • Why Bitcoin is deflationary
  • What makes Bitcoin secure or not secure
  • How Bitcoin can be very public or very private
  • What is Ether, how is it different from Bitcoin
  • What about other alternative currencies
  • The easy way to get started
    • Coinbase (Click Here to Set Up an Account)
      • A lot like Paypal
      • Can hold Bitcoin and Ether as well as Dollars
      • Yes they do report to the .Gov
      • They are extremely secure
      • Allows you to buy, sell, send and receive Bitcoin
  • My final thoughts on Bitcoin as an “investment”
    • Instantly Liquid (48 hours in a vault)
    • Can be completely hidden from seizure
    • Is not legally money (this is good)
    • Total quantity and production is know
    • More users must increase the value of it

Resources for today’s show…

Sponsors of the Day

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council that can answer you questions. If you have a question send it to jack at thesurvivalpodcast.com with TSPC Epert in the subject line. Ask your question in one to two sentences so it is clear then provide any additional details. Make sure to tell me what council member the question is for. You Meet the Expert Council at this Link.

Join the MSB Today

Join the MSB Today

Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1749- Financial Preparedness the Modern Survivalist Way

It Would Be Funny If It Wasn't So Accurate

It Would Be Funny If It Wasn’t So Accurate

Tuesday shows are always stand alone, just Jack shows on a particular subject.  Today’s will be on financial prepping, next Tuesday will be on guns and the following will be on food storage and prep.  This was all due to the results of an informal Facebook poll.  You can see the post and results here.

To that end I will be doing more stuff like this in the future to let you guys tell me what topics you want covered.  Today we delve into financial preparedness in a way you won’t ever learn in school and almost no “financial adviser” will ever assist you with, except perhaps John Pugliano.

Economics and the reality of unfunded liabilities, the national debt along with everyday financial worries is the number one reason people get into the preparedness lifestyle.  Sometimes it is from a practical approach but just as often it is panic and fear based.  Today we set aside panic and establish a base of common sense and pragmatic techniques to build, preserve and protect wealth.

Join Me Today To Discuss…

  • The number one wealth killer – poverty consciousness
  • The number two wealth killer – consumer age thinking
  • Why the two are actually related and not as oppositional as you’d think
  • The lesson of the game Monopoly
  • Why debt is cancer and must be eradicated
  • Why saving is more important than investing for most people
  • The lessons of alternative energy
    • Start with increasing efficiency (income)
    • Reduce losses (spending)
  • My rules for truly becoming financially resilient
    • Increase your economic IQ – daily for a year at least
    • Save money, determine what you can save, then do a bit more
    • Reduce expenses in small ways, put at least half of it away
    • Create additional income (business, second job, more hours)
    • Save money (cash on hand, cash in bank, CDs, bonds)
    • Become a land owner on some level
    • Put some money into silver/gold (5-10% of NW)
    • Put some money into bitcoin (a little each month or quarter)
    • Become a producer of food, yes, really
    • Plant trees
    • Buy the best you can afford once vs. cheap twice
    • Become highly skilled at fixing your own problems
    • See opportunity everywhere because it is everywhere
    • Become a great cook
    • Invest in only what you understand and only when it makes sense
    • Get out of the way of telegraphed punches, yes time the market
    • Pay off all debt asap, I know I said it before and I will keep saying it
  • Final thoughts – The game is rigged, it is a big club, you are not in it!

Resources for today’s show…

Sponsors of the Day

ginkgobilobaBob Wells Plant of the WeekGinkgo Biloba Tree – Adaptable from zone 4 to zone 9.

Ginkgo Biloba, also known as maidenhair tree, is a deciduous tree. These trees are extremely long-lived, with individual specimens surviving for up to 3,000 years. Ginkgo Biloba trees have distinctive leaves that flutter in the slightest breeze.

Once fall arrives, the leaves turn golden or bright yellow before carpeting the ground. The extract from the leaves are used in Ginkgo Biloba supplements to improve memory, symptoms of dementia and blood flow.

Bob Wells specializes in edible landscape, including: Fruit Trees, Berry Plants, Nut Trees, as well as the hard to find Specialty Fruit Trees. Find this plant and more at BobWellsNursery.Com

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council that can answer you questions. If you have a question send it to jack at thesurvivalpodcast.com with TSPC Epert in the subject line. Ask your question in one to two sentences so it is clear then provide any additional details. Make sure to tell me what council member the question is for. You can Meet the Expert Council at this Link.

Join the MSB Today

Join the MSB Today

Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1482- John Pugliano on Small Business as a Wealth Building Tool

John Pugliano of Investable Wealth

John Pugliano of Investable Wealth

John Pugliano is a late blooming entrepreneur and the founder of Investable Wealth, LLC an independent fee only investment advisory firm. John served in the military for 7 years before starting a 20 year corporate career in sales and marketing of industrial products.

More importantly he followed his passion and honed his skills as an individual investor for over 25 years before becoming an investment adviser. Understanding the plight of the retail investor, he advises clients using the experience he gained while managing his own portfolio. John has recently launched the Wealthsteading Podcast.

John practices what he preaches. He believes in first being a disciplined saver, getting your preps in order, and then investing in the stock market. John is a long time TSP listener, he’s a MSB member, and a PermaEthos Founder.

Today he joins us to discuss small business ownership as a primary method of building wealth.  In this show John discusses getting mentors, developing entrepreneurship groups, funding your start up, building local and then reaching out nationally or internationally.

He then goes into why value add is a great entry method into business start up.  How you can gain insight by talking to local businesses and business owners.  John also explains the necessity of a simple business plan, keeping employee head count low or even to zero and learning from your mistakes.

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council you can address your calls to. If you do this you should email me right after your call at jack at thesurvivalpodcast.com with expert council call in the subject line. In the body of your email tell me that you just called in a question for the council and what number you called in from. I will then give the call priority when I screen calls.

Join the MSB Today

Join the MSB Today

Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1418- How Can I Find a Better Way to Make a Living

I am not sure why but I have been hit up with a ton of emails lately asking for career and business advice.  I guess something is stirring up the natural desire for liberty at a higher level and many are seeing their employment for what it is, indentured servitude.

Jobs are not inherently bad things.  I had many jobs over the years.  Some people don’t want to be entrepreneurs they just want a better career and a better place to work.

I find it hard to advise people on this stuff.  Yes I spent a lot of years employee but I have been an entrepreneur for most of my life as well.  Even when I  had a j-o-b I still had some sort of a side business.  I started my first real company in 1998, it is often hard after all those years to advise on both the entrepreneur and employee side of the fence but I will do my best to do so today.

For anyone that wonders if this is a survival topic, I will just say this.  Most preppers get into survivalism because of a fear that something could go wrong and cost them their incomes, their savings, their homes and their happiness if they are unprepared.

Great but if you are miserable now, how happy do you really think you’ll be eating MREs in the apocalypse?  Or, will it matter that only you lost your home due to a lost job and everyone else still has theirs?  Does it make sense to worry about the collapse of a dollar when you barely have any dollars?

Join Me Today to Discuss…

  • Start with what is good about your current job/business/income
  • Then yes dig into what is bad about it, what you hate
  • Next ask yourself what do I really love to do (focus on doing not the thing)
  • Now find the things that let you do the things you love to do (product)
  • No identify the obstacles to doing what you want to do
  • Develop a plan to leverage what you have to get what you need
  • The key really lies in personal development and confidence
  • No one will give it to you and luck is only what you make of it
  • Those who create reap the greatest rewards and fall the hardest
  • In the end you have to make the choices for yourself

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council you can address your calls to. If you do this you should email me right after your call at jack at thesurvivalpodcast.com with expert council call in the subject line. In the body of your email tell me that you just called in a question for the council and what number you called in from. I will then give the call priority when I screen calls.

Bob Wells Plant of the Week

Lapins Cherry – Highly adaptable zone 5 to zone 9. – This cherry is one of the few truly self-fertile options, making it ideal for small back yard growers with limited space.  Additionally it only requires 400-500 chilling hours. It is also one of the few cherry trees that can be planted in full sun, even in zone 9 and handle the extreme summer heat in the south, yet cold hardy enough to handle the extreme cold in zone 5. Order this Plant from Bob Wells

Join the MSB Today

Join the MSB Today

Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1219- John Pugliano on Rules for the Beginning Investor

John Pugliano of InvestableWealth.com

John Pugliano of InvestableWealth.com

John Pugliano is a self taught investor with over 25 years of investment experience. Recently he founded Investable Wealth, LLC to offer independent advice and money management based on his stock trading philosophy and methods.

John has served in the military and worked for several large corporations. He is the father of six. John and his wife Cheryl live happily and debt free in Utah.

John spent 20 years in corporate America as an industrial products business development salesman.  More importantly for past 25+ years he has taught myself to invest in the stock market and today has a net worth in excess of 1 million dollars.

He is now a licensed financial adviser and owner of an investment advisory firm.  Like myself, John has had an extremely low opinion of the financial adviser industry- which is one reason why he has started his own firm.

Join Me As We Discuss John’s Formula for Beginning Investor…

  • 1. First get your preps in order
  • 2. Research & Education
  • 3. Only invest what you’re prepared to lose
  • 4. Open an account at a discount broker
  • 5. Only trade index ETSs- SPY, QQQ, IWM, etc ( if locked into a 401K)
  • 6. Swing trade between cash and index ETFs based on market sentiment
  • 7. Buy a little late into the rally and get out early
  • 8. Never Buy & Hold
  • 9. Learn from your mistakes

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council you can address your calls to. If you do this you should email me right after your call at jack at thesurvivalpodcast.com with expert council call in the subject line. In the body of your email tell me that you just called in a question for the council and what number you called in from. I will then give the call priority when I screen calls.

Our Expert Council is Made Up of…

Join the MSB Today

Join the MSB Today

Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

 

Episode-1144- Building Wealth with John Pugliano

John Pugliano has been in corporate America for past 20+ years as an industrial products business development salesman.  More importantly for past 25+ years he has taught myself to invest in the stock market and today has a net worth in excess of 1 million dollars.

Recently he has become licensed and started an investment advisory firm.  Like myself, John has had an extremely low opinion of the financial adviser industry- which is one reason why he has started his own firm.

John joins us to discuss building wealth and steps to financial independence (get rich slow, 21 years or less, depending on your knowledge and situation).   This is a “beyond Dave Ramsey” get out of debt concept with three critical steps

  • 1) Learn a marketable skill
  • 2) Get paid for achievement not by the hour
  • 3) Develop passive income.

Today we discuss how this works based on Thomas Stanley’s book “The Millionaire Next Door”.   We also discuss how can just about anyone become financially independent in 21 years or less. Ways to detect “financial liars.  How to get your kid’s to fund their own education and how living debt free is the ultimate way to run your financial life.

Resources for Today’s Show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK and you might hear yourself on the air.

Episode-973- Gregory Mannarino on the Coming Economic Collapse

Greg Mannarino of Market Report

Greg Mannarino of Market Report

Gregory Mannarino is a financial strategist, technical analyst, and also a practicing health care provider. Greg is the “host” of a popular daily YouTube blog which explores and exposes the machinations of Wall Street, finance, economics, government, and current events relating to these subjects.

Greg started his financial career working on Wall Street as an analyst and trader for the securities and trading arm of Bear Stearns during the dot-com bubble.

He began his medical career practicing at Staten Island University Hospital Emergency Department.

He also served as a commissioned officer in the United States Naval Reserve Medical Service Corps.

To date Greg is the author of 7 books, his newest book is titled The Politics Of Money,” and is a complete version of all his works which have been updated as well.  This latest version of his work, The Politics Of Money, will supersede and replace all of his previous books as he will be phasing out his previous publications.

In Greg’s own words,

“I am a Wall Street insider who knows the global money game. Please allow me to walk you through and show you how money really works. We are now in the midst of a transition period to a new monetary system, and the greatest transfer of wealth in human history is already well underway.

In the literal sense it is grand theft on an unimaginable scale being perpetrated by the world’s major banks and fostered by our policymakers.”

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK and you might hear yourself on the air.

Episode-770- Modern Financial Survival

Yesterday I stated that we are about to in effect go into the middle of a financial war.  I am not sure the analogy was fully understood it wasn’t so much about fighting the battle but more about the way that even if good is the end result how many can be harmed in the process.

This resulted in a litany of people trying to nit pick about the justification for WWII, why the US prospered after the war, etc.   Such people are literalists that don’t comprehend analogies and tell “ants are socialists”, when you tell them the ant and grasshopper story.

Today I will revisit a few things people took exception to (very briefly) and will spend most of the show outlining my “modern financial survival guide” for the coming future.

Join Me Today as We Discuss…

  • Is the Catholic Church calling for a “World Bank” and global tax or not
  • What exactly do I mean by a financial war
  • Why do I believe so emphatically that I am right about the coming collapse
  • What I think you need to do to be financially prepared for the future
    • Get rid of debt (especially floating rate debt)
    • Try to save at least 20% of your income (6 months security)
    • Know your exit points for every investment
    • If you are in stocks by only the best companies
    • Do not hold any and I mean any long term bonds
    • Keep an eye on TIPS Bond Yields
    • Remember most “experts” on TV are actually idiots
    • Develop your local community
    • Don’t bet on any government money (specifically @ 100%)
    • Consider land as the best investment (not houses)
    • Increase your financial IQ daily – start with vocabulary
    • Focus on gaining some % of self sufficiency with the 5 needs
    • Try to be as “cash rich” as possible
    • Don’t act in fear, think before you do anything
    • Do not listen to conventional wisdom during unconventional times
    • Remember the prepared can always profit and prosper

Additional Resources for Today’s Show

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK and you might hear yourself on the air

 

Episode-760- What Have You Done With My Country

I have a ton of things on my mind after coming back from Salt Lake City based on questions that were asked in the booth.  Many subjects came up but the number one was…

When will the economy collapse and what will that collapse look like?

The people asking this ran the spectrum from tin hat types to normal every day people who were just concerned about their families.  What shocked me the most was I would tell them what I thought, Fernando Aguirre who went though a collapse in Argentina got up on stage and told them what a collapse looks like and our words were almost identical.  Yet most of those asking questions were not very receptive to the answer to their own questions.

Today I am going to go into this subject again, I will discuss the role of the Fed, debt and the elite banking layer play in it and what you must do to be prepared for it.

Join Me Today to Discuss…

  • What ever the TV, novel or guy selling how to stuff says is probably wrong
  • Yes a second “great depression” is bad enough
  • Why the Fed must go and how bad it will hurt at first
  • How money is currently created and how you are taxed with inflation
  • Why a “gold standard” won’t fix the problem
  • The cold hard facts about downward class migration
  • What a 50% inflation rate means to you
  • The coming depression that has already begun
  • Why I believe one last period of false hope will proceed the big crash
  • Why time lines are less important then destinations
  • What you need to start doing right now
    • Reduce debt
    • Reduce expenses
    • Build skill sets
    • Increase self sufficiency percentages
    • Build community
    • Protect your existing assets
    • Become informed about your surroundings
    • Perform a risk assessment
    • Have both bug in and bug out plans
    • Have faith in the future

Additional Resources for Today’s Show

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK and you might hear yourself on the air.