Ep 162: Income Coach: Gives The Retirement Money Secrets
In this episode of "Money & You," host Michelle Perkins engages in a discussion with guest Steve Selengut about the relationship individuals have with money and the importance of mindset in overcoming financial challenges. As a 44-year investment professional, he's developed a simple, yet little-known system for producing reliable market generated income. He created income-generating portfolios for his clients for decades, growing their income every year.Now semi-retired himself, his mission is to bring this system to as many investors and retirees as possible.As a private portfolio investment manager with over $110 million in assets before selling his business in 2023. He's introduced several proprietary concepts, including QDI + PT, Smart Cash, The Working Capital Model, The Investor's Creed, Base Income, and the Investment Grade Value Stock Identification System.Steve shares his personal journey of learning to invest, focusing on income-generating assets rather than merely increasing portfolio value. He highlights the significance of cash flow and the need to understand investment choices, particularly in a changing financial landscape.By providing insights into effective investment strategies, the podcast aims to help listeners cultivate a more positive and productive relationship with money leading to financial freedom.00:05 - Understanding money mindset 07:14 - Building income through investments18:51 - Cash flow over portfolio value26:53 - Defining financial sufficiency33:00 - Reinvesting for financial growth44:44 - Tangible income for retirement Key Takeaways- A healthy relationship with money is foundational for financial independence.- Consistent income from investments can provide security and flexibility in retirement.- Understanding the cash flow generated by investments is crucial for long-term financial success.- Practical investment strategies, such as focusing on dividend-paying stocks, can lead to sustainable income.Steve Selengut faced a lack of modern investment tools and resources, as there were no ETFs, IRAs, or 401(k)s at the time. He adapted by learning to focus on income generation and developing a strategy that involved consistent investment in income-producing assets.The guest suggests focusing on generating cash flow from investments rather than merely increasing the market value of a portfolio. This involves investing in assets such as dividend-paying stocks and bonds, to ensure consistent income. Having a portfolio that produces cash flow allows investors to weather market fluctuations without relying solely on selling assets.For much more on ALL things money mindset, money management, how to earn a great living and take control of your finances…Subscribe to my weekly podcast, Money and You:https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575?ign-itscg=30200&ign-itsct=podcast_boxPlease share the episode or the podcast with your friends and family members who want to understand money better and feel in control of their financial lives.And don’t forget to join the Limit Free Life email community for valuable, usable content and to learn about upcoming events: Let’s Connect…