270 Pinks and Blues: Basic Finance

Scaling UP! H2O

Let’s talk about money. Not many people know about finance because it is daunting. When I was just a little boy, my grandfather introduced me to stocks and investments, and that opened the door to my interest in finance and learning how to make my money work for me.

In today's Pinks and Blues, I am going to talk about why you should take advantage of company-sponsored retirement accounts, how to get your money to work for you, and where you should put your money to make it grow.

I’m answering your questions about the basics of finance, and if you have more questions, drop the Scaling UP! H2O team a comment, and we might make another episode for you in the future.

Bottom line: Trace Blackmore is answering listener questions about Basic Finance in today’s Pinks and Blues so our listeners can make better financial decisions.

Your roadside friend, as you travel from client to client.

-Trace

Timestamps:

I’m at AWT and Upcoming Events for Water Treatment Professionals [01:31]

Women of Water (WOW) [3:30]

Thinking On Water With James [09:13]

Working hard for your money and getting that money to work for you [15:11]

Taking advantage of your company-sponsored retirement account AKA Free Money [19:03]

Understanding compound interest [24:02]

Equity, Creating a Budget, Capital Gains Taxes, and Credit Card Debt 101 [26:55]

Growing your money with Stocks, Systematic Investing, Dollar-Cost Averaging, Fund Managers, and Mutual Funds [29:57]

Making money by loaning your money to someone else with Corporate Bonds, and Muni or Municipal Bonds [38:38]

Doubling our money using The Rule of 72 [43:15]

Thinking On Water With James:

In this week’s episode, we’re thinking about cooling tower side stream filtration. When and why would you recommend sidestream filtration for a cooling tower system? What are the benefits? What types of filters are available? Which should you choose? How big of a filter do you need? Why filter a sidestream instead of full stream? Does the filter have a waste stream, and where does it go? Take this week to think about cooling tower side stream filtration and what it means to the cooling systems you manage.

Quotes:

“Every woman I know in the water treatment industry is wildly successful. Every single one of them.” - Trace Blackmore

“You work hard, your money should work as hard as you do.” - Trace Blackmore

“Now that I am older, I have more freedom to make more choices because of the choices I made when I was younger.” - Trace Blackmore

“Q: How can money work for you? A: Own it or loan it.” - Trace Blackmore

“When you buy a bond, you are buying someone else’s debt.” - Trace Blackmore

“When you pay yourself first, it will totally change the options that you have as you live your life.” - Trace Blackmore

Connect with Scaling UP! H2O:

Email: [e-mail] (podcast producer)

Submit a show idea: Submit a Show Idea

Trace Blackmore on LinkedIn: in/traceblackmore/

Scaling UP! H2O on Facebook: @H2OScalingUP

Scaling UP! H2O on YouTube: ScalingUpH2o.com/YouTube

Links Mentioned:

Women of Water (WOW)

185 The One Where We Talk About How To Make Your Money Work For You

Dave Ramsey Financial Peace University

How To Invest With Dollar-Cost Averaging

The Rising Tide Mastermind

Submit a Show Idea

AWT (Association of Water Technologies)

Events:

Check out our Scaling UP! H2O Events Calendar where we’ve listed every event Water Treaters should be aware of by clicking HERE or using the dropdown menu.