There’s a big difference between being rich and being wealthy. Rich people spend what they have. Wealthy people, however, leverage what they have to produce more wealth.
But how much money is really enough? And what’s driving our constant need for more?
These are the types of financial questions I ask my good buddy, Michael Port, on today’s podcast episode. More specifically, we’re digging into money management as family men with businesses.
For context, he’s written multiple bestselling books. He’s also the co-founder of Heroic Public Speaking, a super successful company that he bootstrapped and scaled with his wife, Amy.
While there’s more than one way to build wealth & legacy, I have a major appreciation for Michael’s approach to financial freedom. Rather than follow the crowd, he constantly pursues the best path for him after spending years studying different approaches to creating financial independence.
We talk about what makes his business profitable, setting budgets with his wife, avoiding get-rich-quick schemes, and how he empowers his kids to manage their own finances.
One of my favorite investment takeaways from our conversation – the ROI of “keeping it simple” = more bandwidth for my family!
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Michael Port Highlights
- How Michael creates more free time for himself and his family
- Allowing your kids to track their finances and manage their money for things like school supplies, clothes, summer camp, and more
- Practical money management habits you and your family can use to achieve financial security and build long-term wealth
- Should you pay off your mortgage OR borrow against it to invest?
- Considering the investments that turn earned income into cashflow—and that also give you more bandwidth for the fam!
Michael Port Links & Other Resources
- Michael Port’s Website
- Connect with Michael Port on Email
- Michael & Amy’s Performance Training Center: Heroic Public Speaking
- Follow Michael on Facebook, LinkedIn, Instagram, and YouTube
- Check out Michael Port’s books on Amazon
- You Need a Budget App (YNAB) that Michael uses with his kids
- Financial Book Recommendations from Michael Port:
- Winston Churchill
- Mike Michalowicz
- The Revolution That Wasn’t: GameStop, Reddit, and the Fleecing of Small Investors
- Adam Grant
- What’s Behind Warby Parker’s Success?
- Tony Robbins
Michael Port Bio
Michael Port is the author of nine books. A few of them have become perennial bestsellers and made it onto such lists as the New York Times, the Wall Street Journal, and USA Today. Some have won awards from 800-CEO-READ and Amazon. The three most popular are: Book Yourself Solid, Steal the Show, and The Referable Speaker.
Together, with his wife, Amy, they’ve built Heroic Public Speaking HQ, a performance training center, to develop and nurture the next generation of professional speakers along with CEOs and founders, bestselling authors, business owners, and people leading movements and advancing important causes. Find out more at www.HeroicPublicSpeaking.com.
Evolve As a Father: Thriving Marriage Online Summit – May 19
- Restructure your professional life so that you consciously choose to be a family man with a business, not a businessman with a family.
- End frustration, stop feeling isolated and learn battle-tested dad strategies from other front row dads.
- Create the action plan to be more present and more connected with your wife and kids.
- Surround yourself with guys who choose to put family first, and not just talk about it.
Click HERE to find out more about the online summit!
Want to learn more about Front Row Dads?
We are in the business of building better families.
While most dads would say that family matters most, the challenge is they feel guilty knowing their careers get the best of them, and their family seems to get the rest of them.
We help Dads become family men with businesses, not businessmen who have families, so they can thrive personally AND professionally.
Subscribe to the Front Row Dad podcast to learn about fatherhood, marriage and how to level up your game at home, or if you’re ready for the best coaching and true brothers to grow with, Join The Brotherhood.
If you would like a transcript of the show please email firstname.lastname@example.org