Worth It

As an entrepreneur or small business owner in today’s world, making money is important to you. Having autonomy over your work and making your clients and customers happy is also important to you. But so is giving back. Maybe you donate a percent of your profits to a cause you love, or you volunteer at a charity close to your house. As your business grows, though, you may be wondering how you can give back even more. This has been a frequent topic of discussion among Worth It listeners, so we finally dove into it on this episode. In this episode, we talk about the 3 ways you can give back and make an impact: donating cash, starting a donor-advised fund, or creating a private foundation.   WHAT YOU’LL LEARN 03:20 The misconceptions about private foundations 04:11 What we learned about community funds from a luncheon 04:46 The idea of leaving a legacy that goes on long after you’re gone 05:05 How to support your heirs and the community with your funds 07:30 3 different ways to give and have an impact 08:06 The e

We’ve all heard the importance of investing in ourselves. Whether it’s investing in an executive coach, in the right clothes, or in your personal development, Dustin and Danielle have covered the gamut in past episodes. But on today’s episode of Worth It, they’re taking a different angle. In the Pitfall Series, they’ve been talking about the pitfalls of investing in the wrong arena and in the wrong advisory team, but today they’re talking about the pitfalls of not investing in yourself (and your future). Instead of talking about coaches or employees or “traditional” self investments, Dustin and Danielle are talking about investing in a backup life bank so you can take care of yourself and your loved ones, not just now but in the future. WHAT YOU’LL LEARN [03:15] The importance of counterintuitive thoughts in life and investing [05:04] What inversion means and how it can be a great skill [07:03] What inversion has to do with escape pods [07:32] How to figure out the bare bones of your income [09:03] What you

As part of the Pitfalls Series, Dustin and Danielle are talking about investing in the wrong advisory team. When you start your business, you may hire an assistant, a graphic designer, or some other professional who helps you execute and deliver your daily work. Of course, these individuals are highly important to the success of your business. But that’s not what Dustin and Danielle are talking about today. Instead, they’re talking about the professional you choose to work with — and take advice from. WHAT YOU’LL LEARN 06:45 How your perception of money changes as you start earning more 08:13 Why your advisory team is just as important as your staff 08:43 One of the common mistakes we see regarding who entrepreneurs trust 09:40 Types of individuals on your advisory team 10:58 Why bookkeepers, coaches, CPAs, and attorneys are great… but not for everything 12:48 The limits of what to expect from other advisory team members 14:30 The risk of “conflict of interest” when it comes to taking advice from certain prof

In this new 3-part series, we’re talking all about pitfalls in investing. Whether you’re investing in actual investments, in a team for your business, or not investing in yourself, there are a number of “uh-oh’s” we all encounter at some point. But Dustin and Danielle are hoping to raise some awareness of these pitfalls so that Worth It listeners don’t have to encounter them. In this first part of the series, Dustin and Danielle are talking about the pitfalls of investing in the wrong arena. WHAT YOU’LL LEARN 02:16 Why you’re losing money if you’re just saving 02:47 The reason real estate is a big pitfall 03:54 Danielle’s horror story about a “property management” company 10:20 Why making money leads to fear 10:33 All about the “sharks” that come out when you start making money 11:25 The pitfalls of private equity 11:58 The hubris that sometimes comes with being successful in business 12:53 The similarities between Monopoly and real life 14:23 The real definition of speculation 16:29 Other ways you can contri

In this episode of Worth It, Dustin and Danielle have a special guest: Joey Vitale. Joey is an attorney, speaker, and educator for entrepreneurs. He focuses on the legal aspects of creative businesses so the owners can focus on what’s important — their work. On top of working with clients, Joey has also created an expert brand for himself with Indie Law, where he provides a ton of resources for creative entrepreneurs who are looking to either “DIY” their brand protections or work with his expert team. During their chat, Dustin, Danielle, and Joey dig into what trademarking is, what it’s not, and why it’s so important for creatives and new business owners to really put on their “legal hat” when thinking about their business, their content, and the future. WHAT YOU’LL LEARN 06:20 Why niching down helped Joey’s business 08:33 What it means to protect your brand 10:04  What you can do to “disaster-proof” your brand 12:24 Why that ™ designation doesn’t mean as much as you thought it did 14:38 The two hurdles you h

There are plenty of “rules” out there about how much money you need to save up for a rainy day or an emergency, but how do you know what you need to save? This week on Worth It, Dustin and Danielle are digging into a simple formula that can help you answer that question, both for personal savings goals and for your business. WHAT YOU’LL LEARN 07:05 Why most Americans are not prepared for an emergency 07:33 Why cash is a parachute, not an airplane 09:49 How much cash should you have on hand? 10:34 How much cash you need on hand for the short-term 11:16 Why your business cash savings should mirror your personal savings 12:25 What you need cash on hand for in your business 13:20 What you need to save if you have a business that earns $1mil in revenue 17:15 Why you need to consider your aversion to risk before calculating cash 17:35 The role your business industry and stability plays on calculations 19:27 Why long-term strategies should be implemented with short-term savings 20:32: What are the types of investmen

Tax Season Ain't Over: What You Need to Know for 2019 Taxes Now that April 15 has passed, you’re probably over the idea of taxes. But taxes aren’t just something you should think about when it comes time to file, especially if you’re a business owner or entrepreneur. You should have some passing knowledge of taxes, new changes that affect your business, and how to leverage that knowledge so you don’t pay more than you have to. This week on Worth It, Dustin and Danielle are giving you a brief rundown of three tax topics they think every taxpayer should understand: new tax rules, ETF strategies, and capital gains and losses.   WHAT YOU’LL LEARN 01:15 Why you need to think about taxes year-round 3:00 New tax rules and what they mean for your tax return 4:05 How fewer taxes withheld is good for you 4:25 Why you should be contributing to retirement monthly 5:15 New maximum contributions for retirement and health savings accounts 8:00 How much you can contribute to your HSA 9:25 What an “ETF” is 10:40 How ETFs are

When it comes to spending money, it’s easy to see everything as an expense. Taxes cut out of your take-home pay, your car’s tires eat into savings, and groceries just keep getting more expensive. But what you spend your money on can be more than just outgoing expenses; it can actually be seen as investments in yourself, your future, your business, and those around you. On the Worth It podcast, Dustin and Danielle are discussing the investing vs. spending mindset and how it can be beneficial to view some spending through the lens of investments. WHAT YOU’LL LEARN 05:17 Why the Louisiana purchase was an illiquid asset 07:09 How to separate investment vs. spending in your life 07:20 The 25x Rule for saving, investing & giving 08:50 Why so many people are rethinking where they spend their money 09:52 Why taxes should be viewed as an investment 12:18 What you can do to focus on investing rather than spending 12:40 How Marie Kondo’s “Does it spark joy” question can be applied to spending 12:59 Places where you’

The most liquid asset is cash, but what about other assets? And what does liquidity mean? On the Worth It podcast, we dive deep on what liquidity is (and is not) and what it can do for your finances. --- Which is easier to drink when you’re thirsty: a block of ice or cold water straight from the tap? The tap water, right? It makes sense in this context, but many people — especially business owners — have a hard time understanding how this applies to their assets. Liquid assets are the kind of assets that are easy to buy and sell without affecting the asset’s price. This means that you, whether as an individual or as a business, can easily liquidate (sell) assets without worrying about delays in time or decreases in value. Think of the difference between selling some stock and selling a house; the stock has a very clear value assigned to it and you can sell it in a matter of minutes, while a house can take weeks to be valued, put under contract, and finally sold. In this week’s episode of Worth It, Dustin and

What’s the first thing you think of when you hear the word “retirement”? For some, it conjures up images of golf courses, RVs, and days spent measuring blades of grass. And for many people, especially those from younger generations, those images are enough to keep them working forever. But Dustin and Danielle don’t think retirement has to be like that. In fact, on this week’s episode of Worth It, they’re asking listeners to reframe their definition of retirement altogether. Then, once you have a better idea of what retirement really looks like to you, you can plan for the future you really want. WHAT YOU’LL LEARN 02:57 The difference that Bill Gates has made 05:31 What Oprah is doing in retirement 08:42 Why you don’t need to be a billionaire to make a difference 08:58 What life in retirement can look like for you 11:01 The misconceptions of retirement 11:44 How concerns over Social Security affect this generation’s perception of retirement 15:32 What you can do to prepare for life in retirement 16:09 The defi

This week on Worth It, we have a very special guest. Dannie Fountain is a business strategist and marketing expert who helps creative entrepreneurs grow their businesses. She’s also written four books, travels the world for speaking engagements… and works at Google. And she’s also only 25. For real. Dustin and Danielle were so honored and excited to chat with Dannie about her journey through entrepreneurship and “traditional” employment in this episode. In this episode, they talk about how she does it all and how her speaking and travel engagements helped her create a resume that caught the eyes of Google. Dannie, Dustin, and Danielle also talk about entrepreneurship through the lens of opportunity and financial security, and how corporate jobs and employers are beginning to leverage the power of entrepreneurs. Dannie also shares her views on employment and entrepreneurship, especially in regards to the idea that entrepreneurs don’t make good employees. This conversation goes into a deep discussion about what

Not everyone dreams of retirement and retirement means something to different to today’s generation — especially if you’re an entrepreneur or business owner. But even if you don’t plan on calling it quits permanently one day so you can hang out with your grandkids or curse at your neighbors for walking on your lawn, you might want to have some money in the bank. Why? So you can do whatever the hell you want, that’s why. This week on Worth It, Dustin and Danielle are digging into what it means to live a work-optional lifestyle. And while it doesn’t look the same for everyone, there are some hard-and-fast rules that can help you save up for your own work-optional lifestyle with the help of a “backup life bank.” WHAT YOU’LL LEARN 01:35 What a launch and retirement have in common 02:35 The difference between retirement “back then” and retirement now 03:22 What to do when you don’t have to work for money, but still want to feel useful 04:25 How retirement might mean different things to different people 04:40 The d

This week on Worth It, Dustin and Danielle are kicking off a new series called “Self Employment + Retirement.” Over the next three weeks, they’ll be talking about everything entrepreneurs and self-employed people need to know about retirement, from savings to a work-optional lifestyle to what to expect when you retire. First, though, they’re talking about the different retirement savings options you have when you work for yourself — and they break each one down to determine which is best for you. WHAT YOU’LL LEARN 4:05 Why having a financial advisor can help with you choose between accounts 5:24 Four options for retirement accounts for self-employed individuals 5:48 Why 401(k)s may not be relevant to self-employed people 7:22 The nuts and bolts of an IRA 8:38 Why an IRA is like a “home base” for your savings 10:04 Special cases where you can pull money out of your IRA before retirement 10:28 How IRAs and Roth IRAs differ 13:54 The difference between SEP IRAs and SIMPLE IRAs 14:50 Using employee and employer c

If you’re a die-hard entrepreneur, you’re made to build, launch, and profit from the businesses you’ve thought up. And thanks to those businesses, you’re able to afford the life you want to live and do what you’re good at each day. But as you probably know, maintaining and running those businesses is hard work. When you stop working or clients dry up, those businesses can be a serious risk to your financial wellbeing.   In this week’s episode of Worth It, Dustin and Danielle are shedding a little light on this topic and explaining why building and owning multiple businesses isn’t the same as diversification… and how it can actually be a risk to your future financial wellbeing. WHAT YOU’LL LEARN 03:05 Why you don’t want to be like the creator of the Fyre Festival 07:33 Why starting another business isn’t true “diversification” 08:22 The risk of starting multiple businesses 08:57 The true definition of diversification 09:08 The difference between utility and luxury businesses 09:48 Different types of asset clas

Do you hear the word “debt” and instantly think of it as shameful, bad, or even scary? If so, you’re not alone. According to the latest statistics, the average American household has $135,768 in debt — including mortgages, student loans, car loans, and credit card debt. On top of that, 7 out of 10 people say that debt is necessary in their lives, but they wish they didn’t have it. Most of us have debt, so why is it something that we want to get rid of (or feel ashamed to talk about)? This week on the podcast, Dustin and Danielle are talking about debt: why it’s not as bad as you thought it was, how debt can actually improve your life, and what you can do to tackle it. HERE’S WHAT YOU’LL LEARN: 2:17 Danielle’s experience with credit cards 4:50 How interest can work for or against you 6:00 Why debt isn’t always bad 9:27 The definition of good debt 10:10 How student loans can be both good and bad 11:20 What counts as “bad” debt 12:07 Why high APR credit card debt is Enemy of the State No. 1 13:50 Four ways to

When you first started out in your business, you were probably so excited to get to work each morning, to see the ball start rolling and to watch the progress you were making. In that “honeymoon phase” of business-building, it’s so easy to love your business and feel fulfilled in your work. But what happens when that initial excitement wears off? And what happens if you find yourself doing things you don’t necessarily love, but that keep the business moving (at least a little)? It’s hard to love everything about our businesses, but it is possible to craft a business that you love for the long haul. That’s exactly what Dustin and Danielle are talking about this week on the podcast HERE’S WHAT YOU’LL LEARN [9:29] Why falling in love with your business is an ongoing pursuit [9:50] The importance of checking in with yourself and how you feel about your biz [10:26] How your happiness impacts your business [10:59] The dangers of sticking to the “blueprint” others have created [13:40] The 3 things you need to love y

In this week’s episode of Worth It, we’re talking all about fears. Fear is a normal (and necessary) human emotion, but it can often stop us from doing what we want in life. That also applies to investing and growing our wealth. Fear surrounding money is so common that it’s a major part of our work as CERTIFIED FINANCIAL PLANNER™ professionals. That’s why we’re breaking down some of the most common fears when it comes to money… and how you can move forward despite your fear. Here’s what you’ll learn 11:43 The 3 types of fear (and how they play into your finances) 13:20 How to demystify the stock market 14:54 Common fears about investing   16:33 The truth about logic and emotion 19:46 Actionable ways to face your fear head on 20:07 How to be a superhuman like Warren Buffett 24:06 The power in picking one investment strategy 24:30 How to weather ups and downs in your investments What are the 3 types of fear? As we discuss in depth in the episode, the 3 types of fear are: Fear of the unknown Fear of change Fear

Managing your money is a little bit like going camping or hiking. You spend a lot of time preparing and packing for the journey and then you’re off, ready to see where the road takes you. But what happens when you forget your map? And what happens when you don’t plan out where you’re going? Starting off without a direction can feel exciting, but it can also prevent you from seeing (and doing) everything you want. The same goes for your money. If you don’t have a direction for your money, you may feel like it’s not enough, or that you’re not able to reach your goals. But your money can help you do all those things… it just needs a little direction. Listen to this episode to learn why your money needs direction and how to do it. Here’s what you’ll learn 0:48 The importance of a roadmap when it comes to using your money successfully 5:47 Why Dustin doesn’t go hiking without a map anymore 11:05 How hiking without a map is a lot like managing money without direction 11:55 What ‘direction for your money’ really mea

Are you guilty of holding on to things just a little too long? We’re not just talking about those jeans from high school — we’re talking about the big stuff: Jobs, negative relationships, and even other people’s expectations of you. Maybe even your expectations of yourself. We all want to level up in some way, whether that means taking on a side hustle so you can build your empire, hiring on an assistant, or finally getting coaching for that big scary dream you’ve got. But we’ve all got baggage that just keeps weighing us down. The good news is: you can let it go. And we are gonna help you figure out how in this episode of Worth It (we promise, there is no Frozen sing-a-long in this episode). What you’ll learn about letting go 6:07 All the different ways people choose to level up in their lives. 7:04  That you’re definitely not alone in feeling scared about letting go. 11:24 What happens when you let go of what’s been holding you back. 13:20 How Danny Meyer, a real modern day trailblazer and the founder of S

On this episode of Worth It, Dustin R. Granger, CFPⓇ and I interview Jesse Patel, the cofounder of Workflowy, the fastest, most flexible list maker on the planet and one of our absolute favorite tools for business and at home. We discuss how this simple, but powerful tool has changed our lives and his. We dig into his journey from working a typical 9-5 job, to joining an incubator, to creating  the ultimate list-making program, where you can shift focus from the big picture to minute details in a fluid fashion. So take a pause from your to-do list and listen to our interview with the creator of the ultimate to-do list app!   HERE’S WHAT YOU’LL LEARN [2:34] The journey behind the creation of WorkFlowy: from idea to incubator to success [16:41] How the app appeals to people on both ends of the organization spectrum [27:54] What are the changes and goals does Jesse envision for Workflowy [32:25] How Jesse strives for balance and flexibility as co-founder of a startup company while raising twin toddler girls wit