Wealth Building Strategies for Entrepreneurs with Curtis May

The Laundromat Millionaire Show with Dave Menz

Interested in growing your wealth? Wondering how to prepare for retirement when you are self-employed? Follow along as Dave "The Laundromat Millionaire" Menz and his wife, Carla discuss how anyone, especially entrepreneurs, can increase their cashflow, their liquidity, and their wealth with Curtis May of The Practical Wealth Show. Curtis reveals the 3 Rules of Investing, how to apply the 5 Principles of Personal Finance, and teaches on the Velocity of Money Strategy. He shares tips on where to begin your journey into becoming more financially educated and business savvy, moving you further along the path to financial freedom!Referenced Links:Link to get Atmosphere TV:https://atmosphere.tv/partner/dave-menz and use code “MILLIONAIRE”Contact Mike directly: [e-mail] Our guest’s website: https://practicalwealthadvisors.comOur guest’s email: [e-mail] guest’s podcast: https://practicalwealth.libsyn.com/Our guest’s Youtube: https://www.youtube.com/channel/UCYtdLCckUCeuc7inedJcX-AIntro to Private Family Banking video: https://www.youtube.com/watch?v=ux8N3jffM9ILife Insurance as a Tool for Liquidity video: https://www.youtube.com/watch?v=B2KTfbJpvggBehavior Gap video: https://www.youtube.com/watch?v=OlRURNZcXf0For consulting services: www.laundromatmillionaire.comOur Youtube channel: https://youtube.com/c/LaundromatMillionaireOur Podcast: https://laundromatmillionaire.com/podcast/Our Facebook: https://www.facebook.com/laundromatmillionaire/Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/Our Instagram: https://www.instagram.com/laundromatmillionaire/Our laundromats: www.queencitylaundry.comOur pick-up and delivery laundry services: www.happynest.com/locations/ohio/cincinnatiDan Sullivan with Strategic Coach: https://www.strategiccoach.com/First Ipod Commercial: https://www.youtube.com/watch?v=mE_bDNaYAr8Kevin O’Leary clip: https://www.youtube.com/watch?v=PWspMJNgT6wStar Wars clip: https://www.youtube.com/watch?v=enKhkTmB0OQRecommended Reading:· Killing Sacred Cows by Garrett B. Gunderson· The Richest Man in Babylon by George S. Clason· Rich Dad, Poor Dad by Robert Kiyosaki· The Rich Dad’s Guide to Investing by Robert Kiyosaki· Doesn’t Hurt to Ask by Trey Gowdy· Becoming Your Own Banker by Nelson Nash· The Case for IBC by Nelson NashTimestamps:00:00:00 Laundromat Millionaire Show Intro - E20 Quotes00:02:26 Curtis' Backstory - Growing up in retail00:08:27 Advice to his 20 year old self00:09:58 A focus on personal development00:11:11 Business as a game00:12:43 Breakdown of the business00:15:01 Avoiding "dead money"00:15:54 Accumulation Theory vs The Velocity of Money Strategy00:20:25 Insurance for improved liquidity and less risk00:22:09 Three Rules of Investing00:26:24 Five Principles of Personal Finance00:27:35 #1 - Save00:29:23 #2 - Maximum Protection00:32:52 #3 - Asset Replacement00:34:55 #4 - Liquidity00:36:30 Good Debt vs Bad Debt00:42:25 #5 - Velocity of Money00:43:23 Does risk tolerance affect advice?00:44:35 Advice vs Education00:47:21 Objectives of the Financial Industry00:48:43 Financial Education vs Indoctrination00:50:45 Insurance for liquidity? 3 Types of Insurance00:55:17 Where to start in your financial education00:56:53 New Book Coming Soon00:58:22 Threads of Success00:59:30 The Behavior Gap01:00:49 Contact Info for Curtis May01:04:10 Closing RemarksLearn more about your ad choices. Visit megaphone.fm/adchoices