Ep 95 | Proven Strategies for Financial Independence with Steve Selengut
episode
Wealthy After 40: Retirement Planning and Budgeting for Gen X
25 min
2 speakers
3 chapters
transcribed 1 month ago
Transcript
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Today, we're joined by Steve Selingut, an expert in achieving income independence. He will share invaluable insights on what it takes to build financial freedom, especially for those over 50. He'll walk us through his six principles of investing and give you clear guidance on where to focus your efforts as you prepare for retirement. You're listening to the Wealthy After 40 podcast, helping you navigate retirement by learning to be your best financial advisor. Welcome to Wealthy After 40, where I help you turn retirement uncertainty into a clear, actionable plan. If you're thinking about retirement but feel unsure whether it's even possible, I understand. The gap between where you are now and where you want to be can feel overwhelming, but it doesn't have to.
Hi, I'm Daylene Higgins, founder of Elevate Finances and your personal financial coach. Having retired at the age of 50 and have enjoyed over two years of retirement bliss, I'm here to help you create your retirement dream and make it a reality. No more wondering, no more guessing, just taking action and building a future for yourself. Join me each week as I guide you through essential topics such as budgeting, cash flow, lifestyle planning, debt and savings, insurance, Medicare, and social security. Together, we'll build a strategy to help you achieve the retirement you've always desired. It's time to shift from uncertain to unstoppable and make your retirement dreams a reality. Hey listeners, before we dive into today's interview, I want to share something with you that can help take the guesswork out of retirement planning.
I've created a free checklist to guide you step by step based on how close you are to retirement.
Who is Steve Selengut and how did his early experience shape his investing focus?
It highlights exactly where to focus your attention, so you can confidently prepare for your future one step at a time. Download this checklist now down in the show notes below or on my website, elevatefinances.us backslash retire now and take the first step toward retiring with clarity and confidence. Welcome to the podcast, Steve. I'm so excited to chat with you today to help listeners gain an understanding about retirement, spending money, all of the things. But before we dive into that, tell us a little bit about yourself and what sparks your passion.
What sparks my passion? I really have grown up in an investment-orientated community. When I was young, my dad had a business. He was a real estate developer, builder, and other things. And he had a very big emphasis on having multiple streams of income. So if If it wasn't a good time for building houses, no demand, at least he had the rents from the ones previous. And he had interest coming in and mortgage payments from the people he had sold things to. And he had other businesses like insurance and a lumberyard even for builders and stuff. So he had a vertically integrated operation. I learned what it was after I went to college and took a couple courses. But his emphasis was always on income, even when I was a kid when I was working part-time jobs or jobs in between semesters in college and so on.
He always took a piece of it and said he was putting it away and investing it for me. Then all of a sudden at age 25, I got it all back. So I've always been an investor. I've always been income focused. And I've always really gotten a kick out of the trading mentality where when I first got The portfolio, I looked at all the charts and saw how a company like IBM or Exxon, Esso at the time, would go up and down and up and down and up and down. And I came up with the idea. They're all dividend payers. They are all big board companies. And I said, you know, what if every time one of them went down, you bought it and then it went up 10% and you sold it and did it again. And I finally found where the actually the stockbroker that I put my, well, I actually had stock certificates.
If you've never seen a stock certificate.
No, I have not.
No, no. Your generation never seen. We used to get stock certificates from the companies. Do that, you know. So anyway, I'd studied all this movement and I figured, you know.
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Chapters
3 chaptersSpeakers
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