Asset Protection and the 4 Asset Types

We all have at least one friend or family member that wishes he or she could have some financial education when they were kids, at high-school, or even at college. Once we are all grown-up, it can be a little harder to learn financial skills, but it is not impossible at all! 

Learning financial skills is an important and powerful virtue that can take you to places you’ve never thought of. Today’s guest expert, Curtis May, was that kid. 

Born in Philadelphia, Curtis’ parents never had the motivation to get a good education or a good job, so he decided to help people with that conversation. Curtis is now the father of three little girls and is convinced that every parent should have those conversations with their children. Curtis May is now a financial educator, and we will learn from him how to manage our money the right way, or as May puts it, ‘It’s not what you earn, is what you keep’.

Curtis May is here to tell us about his 35-year-old business, how his company teaches people to manage money the proper way and multiply it with a well-built prosperity economic model, focused on long term learning and multiple investing options. Walk with us as Curtis shares the books that changed his world, how he made his first investment and the Prosperity Economics Movement he is part of.

 ‘Your economic situation is a matter of choice not chance.’ Curtis May.

 

Podcast summary:

06:10 - Why you need to be your own steward when it comes to taking care of your money.  08:20 - Some general insights into Speculation and Investments. 12:00 - Curtis’ focus on efficiency in keeping money and a great way to increase your personal margin. 16:00 - Differences between lifestyle money, accumulated money, and transfer money. 20:30 - Considering the worth of the money you’ve spent is important for it to have a future.   23:00 - Curtis’ first income hack: How investing in his skills set has meant a direct growth in Curtis’ income. 26:30 - Managing property by himself: How lacking experience turned into a nightmare for May and how to minimize your liability.  30:20 - “If you get better at what you’re doing and at communicating what you’re doing, your revenue goes up”  34:20 - Knowing how to manage your money and the importance of understanding how money works. 42:40 - Being the example of you what you preach to your kids. 48:30 - Freedom and the pleasure of being able to do what you want to do, whenever you decide to do it.

 

Connect With Dan

How The Wealthy Invest in Real Estate - FREE report

Website ‘Practical Wealth Advisors’ 

The Practical Wealth Podcast.  

Financial Planning has Failed by Curtis May and co-author Kim Butler. 

 

Episode Resources

Rich Dad Poor Dad by Robert Kiyosaki

Becoming Your Own Banker by R. Nelson Nash

Money For Life by Jeffrey Reeves

Profit First by Mike Michalowicz

The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas J. Stanley