Episode 49: How Millionaires Handle their Money, with Joe Saul-Sehy

millionaire mindset

This week’s episode features Devin chatting with Joe Saul-Sehy, of the award-winning Stacking Benjamins podcast.  Joe was a financial planner for 16 years, and he has observed that many of his millionaire clients shared similar behaviors. Joe shares some of his big take-aways with the Big Picture Retirement podcast audience:

  • People who are millionaires have respect for a dollar, and they cut expenses that don’t add value to their lives.  They understand the cost of little things.
  • It’s not discipline. It’s about seeing something good that happens, then making it automatic to identify those things in the future and take those same actions again.
  • Knowledge doesn’t pay – action pays. You can know everything there is to know about money but it’s useless if you don’t do the things you know.  How do you make sure the action happens?  Automation.

So, how does Joe apply this knowledge to his own life?  He really likes an app called Clarity money.  Not only does it help him track his spending, but it provides a tool to have family money conversations and it helps him cancel those forgotten monthly expenses.

What if you could reduce the mental energy required to manage your finances?  You can!  Joe’s Millionaire Money Management System course includes every single thing that Joe would tell people when he was a planner, in a system where you automate everything and you don’t have to remember every tip.  You can find this course at StackingBenjamins.com/findBen.

Highlights of this week’s episode include:

  • Automate, automate, automate
  • How to bring your partner into the discussion about your family’s finances.
  • The benefit of decreasing costs as well as improving revenue.
  • The struggle with inconsistent costs.
  • It’s National Pear Month!  (Have you tried pears with cottage cheese?)

Resources mentioned in this show:

Joe Saul-Sehy’s podcast, Stacking Benjamins

Joe’s Millionaire Money Management System

Devin and John’s free ebook: www.bigpictureretirement.net/steps

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