Be Wealthy & Smart

Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod Please see LindaPJones.com for the list of 11 undervalued real estate markets.

Learn if it is better to invest in real estate for capital gains or cash flow. I've mentioned Jason Hartman's Creating Wealth podcast and how there are 700 podcasts about real estate investing. Now we're going to talk to Jason about his investing experience and whether it's better to invest in real estate for capital gains or cash flow? http://bit.ly/wealthpod

Learn why the scandal at Wells Fargo is even worse than you're hearing. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod It's listener question Friday and one of our listeners asked: Do you think the penalties were big enough for Wells Fargo? The media reports the Wells Fargo fraud as "you received an extra account." Ah no, that's not what happened. Money was taken out of accounts without customer permission to create bogus accounts. Fees were charged in the new accounts. Loans were generated without asking, effecting credit scores negatively. Senate Banking Committee hearing last week into the bank's sales tactics, which earlier resulted in a $185 million fine and regulatory action. During his appearance before that panel, Mr. Stumpf and the bank were roundly criticized for firing 5,300 employees over five years, yet taking no action against top executives. As many as two million accounts were opened using fictitious or unauthorized information. Clients of mine have found that they have 2 - 3 more accounts than they thought they had. They aren't showing up on the computer. One person lost a business loan because of Wells Fargo. The first class action lawsuit has been filed. IMO, much more will come of this. No executive in the C-suite has lost their job. Only employees doing what they were told. They did announce millions of dollars in stock options would be forfeited. CEO John Stumpf to forfeit $41 million in unvested equity awards, forgo salary during investigation; former retail banking head Carrie Tolstedt to forfeit $19 million in unvested equity awards The female exec in charge is retiring with over $100 million. The CEO has not taken responsibility, but will give back $40 million in options. There are reports by whistleblowers that they were fired for reporting illegal practices. The illegal activities weren't even caught by Wells Fargo auditors! It was caught by a reporter. This has continued, undetected by senior management, so they say, for several YEARS. This is THE most egregious act of fraud I have ever seen in my life. The harshest penalties should be charged for people who take money out of your account without authorization. This has gone on years after they caught it. I strongly suggest you close your account if you bank there and move to a credit union or small town bank with more integrity.

Learn why there are more millionaires today, according to a wealth management study, and how they are getting wealthier. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod I'm going to share with you an article from Barron's called "Penta Millionaires: The New Rising Class" written by Stacy Perman. I'm going to read a lot of the information because it's statistics, but I'll also comment where I can. I'm sure you'll want to know why are people becoming wealthier at an increasing rate and how can you participate?! Last year the number of households with more than $5 million in investible assets crossed the 1 million mark, up 5% from 2014. The $1MM to $5MM category increased 42%. The $5MM to $20MM category increased 38%. The $20MM to $100MM category increased by 64%. The $100MM to $1B category increased by 61%. The $1B+ category increased by 26%. Wealth is created by money engines that are compounding! Businesses are a large part of it. So are investments in real estate and stocks. It's hardest to make your first million dollars, but keep working on it! Use the 6 Steps to Wealth. Educate yourself. Hang out with millionaires. Join the VIP Experience!

Learn what multi-millionaires talk about with their friends. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod I'm on vacation with friends in Huntington Beach, CA. Saw a random post on FB about someone who wanted to hang out with people that have a higher net worth. I believe it was in regard to Jim Rohn's comment that your income is the average of the 5 people you hang out with - with a twist to net worth. It made me realize I'm here with 4 other multi-millionaires. One owned a famous blue jeans company frequently worn by celebs, one is an apartment landlord, two own many houses in at least 4 states. They have all lived near me in Palm Springs at one time or currently do. I didn't even think about our net worths consciously before I saw the post. Our conversation has been very financial this whole trip. Discussing whether or not RE is in a bubble? Looking at RE to buy, walking the best neighborhoods, getting educated about the area. Talking to a random City Council member about real estate. Shopping at Nordstrom Rack (a "Millionaire Next Door" typical move). "Once you leave Orange County, CA, you can't afford to get back in. Homes went up 30 times over." Investing choices, cities, rentals, apartments, houses, stocks, silver, art, the Federal Reserve, financial crises, bubbles, etc. These are all things we routinely discuss in the VIP Experience. You don't have to hang out with multi-millionaires, but you should be thinking about these 5 questions: 1. Do your friends have a similar net worth to yours? 2.What do you spend your time talking about? 3. Do you do investment research on an everyday consciousness basis? 4. What net worth do you want to achieve? 5. Do you allow yourself to dream and not let "reality" stop you? www.lindapjones.com

Learn how to determine whether investing in a home improvement is a good idea or not. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod Linda, I have a rental house that is also our beach house. I rent it out on VRBO for extra income. I've been wanted to make some cosmetic changes and wanted to ask your advice. I like painted baseboards better than wood baseboards - should I change them? I also am thinking of replacing the carpet in the bedrooms to tile and the kitchen countertops from tile to granite or quartz. Is it worth it to make the investment? I love your podcast and listen religiously. Your advice would be greatly appreciated! Bonnie Thank you for the questions, Bonnie! When thinking about making home improvements to a rental or your primary residence, consider this: 1. Will it improve the value of the home? 2. How long will it take to make my money back (if a rental)? 3. Is it a matter of personal taste or does it appeal to most buyers? 4. Is this the best improvement I can make for the money? 5. Knowing that kitchens, bathrooms and closets sell homes, does it fit within an improvement of one of these important categories? Get "10 Quick Tips to Boost Your Wealth" at www.lindapjones.com

Learn why people who earn 6 figures don't necessarily have it made and need to save more. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod "Make Six Figures? There's a Decent Chance You've Got Almost Nothing in the Bank", article by Polly Mosendz Here is the link: http://www.bloomberg.com/news/articles/2016-09-20/make-six-figures-there-s-a-decent-chance-you-ve-got-almost-nothing-in-the-bank?cmpid=BBD092016_BIZ

Learn the do's and don'ts of purchasing and storing silver. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod It's listener question Friday! Dear Linda, I've been listening to your podcasts and I'm curious about how to buy silver. Do you recommend buying it online? Should I buy an ETF? Can I pay someone to store it for me? Kris I get lots of questions about silver. The most often it's why do I recommend buying silver and not gold? Where to buy it? 1. Your local dealer with a good reputation 2. Online at JMbullion.com or SDbullion.com 3. Goldmoney.com 4. PSLV 5. Not an ETF like SLV How to store it? 1. At home in a safe that is bolted to the floor 2. Not in a safety deposit box 3. Don't pay someone to store it for you 4. In a storage facility (not a bank) 5. At goldmoney.com

Learn why impulse buying of money traps is making you poorer. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod Are you buying depreciating assets like boats and RV's then wondering why you don't have any money? Boats need trailers, moorage, insurance, gas, repairs, covers, motors, ski equipment, etc. RV's need gas, garage, insurance, repairs, car to tow, fees, washing, etc. The cost of the boat or RV is not it's true cost! It goes way beyond that. You've increased your monthly expenses by more than you think. Those extra thousands could be going to work for you and producing more money. If you're in your 50's or 60's, you need to pay special attention to this and get serious about saving and investing. You can build your wealth or buy these toys, but you can't do both very well. Rent instead of buy. Use it and leave the cost and headache to someone else!

Learn 7 investment strategies of centimillionaires. Have you listened to the Creating Wealth podcast with Jason Hartman? It has over 700 podcasts on real estate. If you like this podcast, you'll like that one too.http://bit.ly/wealthpod Here are the 7 Investment Strategies of Centimillionaires: 1. Own the game 2. Alpha-mail (instead of blackmail) 3. Niche monopoly 4. Work on building a full chess board portfolio 5. Leveraged resource strategy 6. Horse trading 7. Identify choke points Find links to all the books mentioned at www.lindapjones.com/centimillionaire