Finding The Right Financial Advisor with Joe Saul-Sehy | Micro Empires

It’s not about being smart; it’s about protecting your blind spots and having someone in the corner to disagree with you.

Welcome back to the Micro Empires Podcast! I’m your host, Jennifer Ives Grimson. Today my guest is Joe Saul-Sehy, a former Financial Planner and the Founder and Host of the Award-Winning Podcasts The Stacking Benjamins Show and Money With Friends Podcast. With his years of experience and passion for finance, he has helped many people retire early and reach their financial goals.

Let’s dive right in as we talk about money, shame, why, and how to hire a financial coach.

[00:01 – 04:49] Opening Segment

  • I introduced Joe to the show
  • Joe and I talk about how we met
    • I Joined the Stacking Benjamins Community
    • Joe checked out Micro Empires Podcast

[04:50 – 15:20] The Podcast and Diverse Community

  • Joe talks about building a brand through the podcast
    • Be a part of a community and the discussion
  • Joe talks about the perks of being in a Podcast Community
    • Have friends around the world
    • He shares about his experience meeting his audience for the first time
    • The ability to add value and gain more knowledge
  • The art of being in the community is, you will find people that are like you and also those that are very different
  • Learning from diversity in the community
    • Uncovering the society labels
    • Fighting against the discrimination
  • Joe talks about the injustice and challenges that people of color have to face

[15:21 – 24:55] Work Smarter and Harder

  • Quick shoutout to my Podcast Producers: Streamlined Podcasts
    • Use promo code: jives and get a discount
  • Joe talks about his money culture growing up
    • Discussing money was considered taboo
    • Credit card debt issues
    • Having  hard-working parents
  • Joe shares the story about the money talks he got with  his neighbor
    • In current culture, people tend to not talk about money or debt openly, but still spends alot
    • It creates a deadly cycle life

[24:56 – 40:09] Finding The Right Financial Advisor

  • The smartest people that I know always surround themselves with smarter people than them
  • Joe shares his experience being a financial advisor
  • Surround yourself with the people that handle money well
    • Don’t be emotionally invested in your goals.
  • Why does someone say, ‘Don’t have a financial advisor because they are corrupt.’
    • Due to bad experiences and tainted impressions
  • It’s not about being smart; it’s about protecting your blind spots and having someone in the corner to disagree with you
  • Joe shares some tips for finding a good financial advisor
    • Interview more people
    • Ask about their credentials
    • Fee-only advisors are a better way to go
  • Joe talks about being a good and successful advisor
  • Fee-only advisor vs. commission advisor
    • Commission, only advisors, aren’t incentivized enough to make correct decisions 100% of the time
    • He talks about Jane Bryant Quinn’s research
  • Joe talks about how some people look for financial advices from social media groups and the people that they never know

[40:10 – 59:00] The Money Culture of Learning and Shame

  • Every time you are about to make a financial decision, ask yourself, “Towards what end will this take me?”
  • The systemic culture of the fear of learning something new
    • Create the learning culture for yourself
    • It is okay not to be right.
    • What am I going to learn next?
    • Create your MBA for yourself
  • Don’t feel stupid for asking.
  • Being curious keeps you young.
  • It’s not about chasing the money but doing something that you love.
  • Joe talks about his coaches.
    • Tony Stubblebine
    • If you want to learn something fast, hire a coach
  • Joe talks about the Strategic Coach Program he had signed up for
    • Learning from other entrepreneurs too
    • At what age do you think you are going to die, and how do you want people to know you?
    • Why do you have to wait to get to that age and not to live it now?

[01:00:00- 01:02:46] Closing Segment

  • Joe and I share some jokes about money and chicken
  • Final words

Tweetable Quotes:

“It’s not about being smart; it’s about protecting your blind spots and having someone in the corner to disagree with you.” –  Joe Saul-Sehy.

“The only way for your clients to win is for you to stay in business.” – Joe Saul-Sehy.

“The smartest people that I know always surround themselves with smarter people than them.” – Joe Saul-Sehy

Resources Mentioned:

If you’d like to connect with Joel, you can find him on Linkedin and Twitter. You can visit his website at https://joesaulsehy.com/ or email to joe@stackingbenjamins.com.

You can connect with me on LinkedIn, Twitter, Instagram, and Facebook. I’m excited to know more about you. I’m excited to know more about you. Also, feel free to shoot me an email at jennifer@micro-empires.com. You can call or text 213-973-7206

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This podcast is about YOU.  We all have a story, whether your story is a lot like mine or totally different. Maybe you have a good job, but you know in your heart that you want more.

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