DecaMillionaire Decoded

In episode 335 of Financially Simple, Justin continues his examination of Wall Street as an investment option for Business Owners. Investing in your own business can only get you so far, especially when the vast majority of small businesses won't sell which can jeopardize the owner's retirement plans. In this episode, Justin looks at Wall Street as an option for Small Business Owners to invest in...

In episode 334 of Financially Simple, Justin asks the question Why Do Business Owners Hate Investing in Wall Street? In the light of past and recent events involving the financial advisors of Wall Street, it's a wonder how anyone without a hedge fund can trust the stock market. In this episode, Justin looks at reasons why Business Owners in particular are hesitant to put their hard earned cash int...

In episode 333 of Financially Simple, Justin answers a listener's question - What do Financial Planners Do? There are many different professionals that can be described as Financial Planners, from Wall St. investors to Insurance Brokers, but what is an actual Financial Planner, and what do they do? In this episode, Justin answers this question and explains the role and benefits of using the servic...

In episode 332 of Financially Simple, Justin takes a look at Disability Insurance for Business Owners. In the event of an accident occurring, either within your business or in your daily life, that results in you being disabled and unable to continue working in your current position, it's important to have insurance cover - however, there are some caveats. In this episode, Justin explains what Dis...

In episode 331 of Financially Simple, Justin looks at how much Life Insurance a Business Owner actually needs. As a b usiness owner, there are a lot of "What If?" scenarios, one of which is, "What if I die? Will my family be taken care of?" In this episode, Justin explains how to calculate how much life insurance you should need in order to cover the living costs of your family, as well as factori...

In episode 330 of Financially Simple, Justin considers whether or not a Business Owner should pay off debt or invest their second stimulus check. When receiving a second stimulus check, it might be the case that your business is already in a good place, having successfully weathered 2020. However, you can still put that money to good use. In this episode, Justin looks at the benefits of paying off...

In episode 329 of Financially Simple, Justin asks the question, How Much Should You Pay for a House? The majority of us desire to own our own home at some point in our lifetime, to settle down and enjoy the fruits of our labors - it's a right in the Constitution and a part of the American Dream. In this episode, Justin looks at buying a house, factoring in the costs and expenses that it will incur...

In episode 328 of Financially Simple, Justin looks at the cashflow state of Businesses in the wake of COVID-19. 2020 was a year that tested many businesses and their ability to weather a financial storm - and many were not adequately prepared. In this episode, Justin explains why cash reserves are important as a means to cover yourself and your business in times of stress, and in the wake of COVID...

In episode 327 of Financially Simple, Justin looks at calculating your Lifetime Savings. How much money will you make over the course of your life? How much will you save up during the working period of your life? Will you be able to rest comfortably once you retire? In this episode, Justin explains how to calculate your Lifetime Savings and why knowing matters; he also covers some ways to improve...

In episode 326 of Financially Simple, Justin goes over how to calculate your Income Savings Rate and why it matters. With all that occurred last year, it's worth taking the time to assess your financial situation and see what can be done to improve matters to secure your financial future. In this episode, Justin looks at how you can calculate your Income Savings Rate, bearing in mind that the majo...

In episode 325 of Financially Simple, Justin shares some of the technologies that are used in providing financial services. It takes a lot to run a business, a solid plan and strategy, and a great team. Increasingly technology is becoming more and more a part of the functions of a business too. In this episode, Justin looks at the numerous applications and web services that his businesses utilize...

In episode 324 of Financially Simple, Justin provides an outline to a roadmap for the year ahead. The new year has begun, and it's important to start off on the right foot. In this episode, Justin goes over the importance of having a strategic business plan, and how to set up goals for the coming year to help your business get to where you want it. Don't forget to subscribe, and let us know how we...

In episode 323 of Financially Simple, Justin shares a Christmas message of hope. 'Tis the season, a time to pause and reflect. In this episode, Justin tells two short stories of peace and hope, with lessons that we should all learn from as we take this time out to rest and celebrate. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! ____________...

In episode 322 of Financially Simple, Justin reflects on 2020 and considers the lessons learned over the course of the year. The past year has been one for the books, with so much happening that it has left many of us with our heads spinning. So, what have we learned? In this episode, Justin goes over eleven lessons that 2020 has taught us, and how we can use these experiences to be better prepare...

In episode 321 of Financially Simple, Justin takes a close look at Santa Claus's business operations. For most small businesses things start to wrap up as we approach the holidays, but for one individual, and his many, many, many employees, things are only just getting started. In this episode, Justin examines Santa's North Pole operation, looking at the eight key areas of this business empire tha...

In episode 320 of Financially Simple, Justin looks at appropriate ways to reward your employees with a year-end bonus. As 2020 comes to a close and the holidays draw near, many business owners will be considering giving their team a bonus for their efforts through this tough year. In this episode, Justin shares some guidelines on giving out bonuses, and also provides a few ideas on what makes for...

In episode 319 of Financially Simple, Justin gives tips on avoiding Christmas strife. It's the most wonderful time of the year, except that up to now it's been a very difficult year for many of us. In this episode, Justin shares some wisdom on how to avoid adding to the stress of the Christmas holidays by having effective communication between yourself and your significant other, and spending wise...

In episode 318 of Financially Simple, Justin looks at a number of ways to lower your Tax Bracket in order to reduce your Effective Tax Rate. How much you earn determines which tax bracket you fall in to, and that determines how much tax you will end up paying. In this episode, Justin explains the US taxation system, how understanding it helps, and a few simple ways to use your money to actually lo...

In episode 317 of Financially Simple, Justin gives an overview of Effective Tax Rates and how you can reduce yours. As tax season approaches, it's always a good idea to review your tax status especially after the turbulence of 2020. In this episode, Justin explains what your Effective Tax Rate is and why it matters, and what can be done to reduce it so that you and your family will have greater fi...

In episode 316 of Financially Simple, Justin gives a concise list of 20 ways to reduce your tax bill. As 2020 comes to a close, the time to figure out your taxes draws nearer. In this episode, Justin lists 20 ways to reduce your taxes, both as an individual and as a small business owner, from tax-free accounts to having a baby! Don't forget to subscribe, and let us know how we are doing by leaving...

In episode 315 of Financially Simple, Justin reflects on the pilgrim settler's attempt at Socialism and the subsequent establishment of Private Ownership. William Bradford wrote on the efforts of the first settler's establishment of a communal system of government, and the hardships and costs it effected before shifting to a more individualistic approach. In this episode, Justin recounts Bradford'...

In episode 314 of Financially Simple, Justin answers a listener's question on measuring value improvement. It can be difficult to take in the bigger picture when running your own business, and seeing the effect of small adjustments and improvements can take time. In this episode, Justin goes over the factors that can be used to measure value improvement, specifically the intangible capital factors...

In episode 313 of Financially Simple, Justin continues to examine the Profitability Gap, and how to reduce it. Being Best in Class is no easy feat, it requires some tough choices and a resolute commitment to change some practices that might push Business Owners out of their comfort zone. In this episode, Justin looks at the different aspects of a business that can be adjusted to help reduce the Pr...

In episode 312 of Financially Simple, Justin returns from his hunting trip with some insights into the realities of running a business. In many ways, being a business owner and running your business is a lot like hunting elk in the Rocky Mountains - or any challenging and life-defining experience for that matter. In this episode, Justin reflects on his hunting trip, and how his adventure on the mo...

In episode 311 of Financially Simple, Justin gives a simplified overview of the Profitability Gap. Is your business fulfilling its potential and among the best in your industry's class? If there is room for improvement, how much more could you be earning? In this episode, Justin explains what the Profitability Gap is, and how to calculate it. Don't forget to subscribe, and let us know how we are d...