Maximizing Retirement Income: Transition from Active to Passive Income

In a recent episode of "The Thoughtful Entrepreneur," host Josh engages in a thought-provoking conversation with Steve Selengut, also known as "The Income Coach." Steve, the author of "Retirement Money Secrets" and the mind behind theincomecoach.net, shares his expertise on financial strategies tailored for business owners and entrepreneurs. The episode delves into retirement planning, transitioning from active income to passive income through investments, and the importance of profit margins. Here, we break down the key insights and actionable advice from the episode to help you optimize your financial future. Steve Selengut specializes in helping individuals transition their investment portfolios into income-generating assets. He often works with business owners contemplating retirement or those looking to optimize their investment strategies. Steve's journey began with selling his business and successfully generating income from his investment portfolio, allowing him to retire comfortably. His investment philosophy centers around a critical question: "How much income is your portfolio generating?" He notes that many portfolios yield less than 3% in income, whereas his own portfolio yields around 10%. The key to achieving higher income lies in using the same securities but packaging them differently to focus on income production. Steve introduces closed-end funds as a powerful tool for income generation. These investment vehicles are designed to generate income rather than grow in market value. They invest in a variety of securities, allowing investors to benefit from income generation while minimizing market risk. Steve likens an investment portfolio to a retail store, where each investment represents a product on the shelf. He advocates for setting a profit target—such as 5%—and encourages clients to sell investments that exceed this target rather than waiting for potentially higher returns. This strategy secures profits and accelerates overall profit margins. By following these steps, you can build a robust investment portfolio that ensures financial stability and freedom in your retirement years.

About Steve Selengut:

Steve Selengut is a seasoned professional with over 40 years of experience in investment management, advisory services, and as a Registered Investment Advisor (RIA). Currently, Steve focuses on coaching both individuals and fellow advisors to achieve income independence for themselves and their clients. He is also promoting his second book, Retirement Money Secrets. Throughout his extensive career, Steve managed approximately 325 individual portfolios both domestically and internationally. He stands out as one of the few investment authors with direct experience in managing client investments. Steve demonstrates how to generate significantly more potential spending money than is typically needed, consistently quarter after quarter and year after year. His method enables clients to confidently state that neither stock market corrections nor rising interest rates will negatively impact their portfolio income. Instead, these conditions can actually accelerate income growth. Unlike most investment portfolios, which often produce modest returns of 3% or less, Steve's approach safely achieves returns that are two or more times higher.

About The Retirement Income Coach LLC:

Income Coach Steve Selengut spent his 40+ year career managing millions in client retirement assets for a higher level of income than most investors achieve. He shares a lifetime of income-building insights and innovative investing techniques in his new book Retirement Money Secrets, and his coaching services, and investment security Selection Universes. Steve"s methodology has been one of the best-kept secrets in the investment management business. But not anymore. Now, he’s showing everyone how to use the oldest type of investment fund in existance in an active, hands-on portfolio management strategy with an income focus. As explained in "Secrets", CEF investing is a proven route to substantially more retirement income. Apply to be a Guest on The Thoughtful Entrepreneur: https://go.upmyinfluence.com/podcast-guest

Links Mentioned in this Episode:

Want to learn more? Check out The Retirement Income Coach LLC website at https://theincomecoach.net/ Check out The Retirement Income Coach LLC on LinkedIn at https://www.linkedin.com/company/the-retirement-income-coach-llc/ Check out Steve Selengut on LinkedIn at http...

A Comprehensive Guide to Modern Leadership

In a recent podcast episode hosted by Josh, listeners were treated to an enlightening conversation with Graham Wilson, a renowned leadership expert and founder of Success Factory. Dubbed a "leadership wizard" by a client, Graham brings over three decades of experience in leadership, from his early days in the British Army to his current role in corporate leadership. This blog post delves into the key themes and insights from the episode, offering actionable advice and detailed explanations to help leaders at all levels navigate the complexities of modern leadership. Graham Wilson's title of "leadership wizard" was coined by a client who appreciated his ability to simplify complex leadership concepts. This simplicity is a cornerstone of his approach, focusing on helping leaders decode what effective leadership looks like in today’s fast-paced world. Reflecting on his extensive career, Graham recounts his early experiences in the British Army, where he learned the importance of teamwork and high performance. He was introduced to the concept of "mission command," which emphasizes empowering teams to make decisions to achieve a shared purpose. This experience starkly contrasted with his observations in the corporate world, where he found organizations often over-managed and under-led. Today, Graham believes we are in a new era of leadership characterized by rapid change and uncertainty. He describes the current environment as "VUCA" (volatile, uncertain, complex, and ambiguous), which requires leaders to adopt a more agile and collaborative mindset. The traditional model of leadership, where leaders have all the answers, is no longer viable. Instead, leaders must foster a culture of empowerment, allowing team members to contribute to problem-solving and decision-making. By integrating these principles and practical tips into your leadership approach, you can create high-performance environments, inspire your team, and leave a lasting impact on your organization.

About Graham Wilson:

Graham is a Leadership Expert, author of Leadership Laid Bare, The New Leadership Manifesto and wabisugi. He is the creator of ChangePro and the inspiration behind Successfactory. Described by clients as the UK's #1 Leadership Trainer and Coach, Graham is trusted by many leading global brands to develop their leaders and teams. Graham's specialities include: Leadership Development, Strategy Creation and Implementation, Value Innovation, Vitality, Agility, Leading Change, Resilience, Developing Elite Teams, Executive Coaching, Programme and Project Management and Sales Force Transformation. Graham is also a keynote speaker at leading conferences around the world.

About The Success Factory:

Our purpose is to awaken possibility in leaders and teams to deliver extraordinary results. We believe that in today’s competitive, volatile, uncertain, complex and ambiguous world there is a better way to lead organisations. In times of fast change organisations need outstanding leaders, not just great managers. We focus on developing your leadership capability in 5 critical areas: New World Leadership Skills: We have worked out what successful leaders actually do to deliver outstanding results. We have decoded this into a system of pragmatic tools and techniques that we want to share with you. Strategy and Culture: Hope is not the only strategy! We help you to create and translate strategy into action. We will share with you the latest techniques for developing New World strategies at all levels in the organisation. Apply to be a Guest on The Thoughtful Entrepreneur: https://go.upmyinfluence.com/podcast-guest

Links Mentioned in this Episode:

Want to learn more? Check out The Success Factory website at https://www.thesuccessfactory.co.uk/ Check out The Success Factory on LinkedIn at https://www.linkedin.com/company/400208 Check out Graham Wilson on LinkedIn at https://uk.linkedin.com/in/leadershipwizard Don’t forget to subscribe to The Thoughtful Entrepreneur and thank you for listening. Tune in next time!

More from UpMyInfluence:

We are actively booking guests for our The Thoughtful Entrepreneur. Schedule HERE. Are you a 6-figure consultant? I’ve got high-level intros for you. Learn more here. What is your #1 Lead Generation BLOCKER? Take my free quiz here. Want to...

Mastering Agency Growth and Client Retention

In the latest episode of "The Thoughtful Entrepreneur," host Josh engages in a compelling conversation with Colby Wegter, the founder of the Delivery Mastery community. The discussion delves into the intricacies of agency growth, the critical importance of client retention, and the common challenges faced by agency owners in today's competitive landscape. This blog post will break down the key insights and actionable advice shared by Colby, providing a comprehensive guide for agency owners looking to enhance their business strategies. Josh opens the episode by inviting listeners to explore valuable resources aimed at enhancing their business connections, including introductions to partners, investors, influencers, and clients. He shares his extensive experience, having engaged in private conversations with over 2,000 leaders to uncover the best sources of business success. Josh offers a free video class that outlines strategies for achieving 100% inbound marketing in any industry within six to eight months, emphasizing a spam-free, ad-free, and sales-free approach. He encourages listeners to visit his website, upmyinfluence.com, to access this resource. Following this introduction, Josh welcomes Colby Wegter to the show. Colby, who has spent over a decade in the digital marketing agency space, shares his journey, including the challenges he faced, such as burnout, and how these experiences led to the creation of the Delivery Mastery community. Colby begins by recounting his 12 years in the digital marketing agency world, with eight of those years as an agency owner. He candidly discusses the severe burnout he experienced in 2022, which nearly led to hospitalization. This period of intense stress and overcommitment prompted him to reevaluate his approach to work and life. In 2023, Colby found solace and support through networking with others who were navigating similar challenges, leading to the formation of the Delivery Mastery community. The core mission of Delivery Mastery is to provide a supportive environment for agency owners who often feel isolated and overwhelmed. Colby emphasizes the importance of surrounding oneself with like-minded individuals who understand the unique pressures of running an agency. He aims to share techniques, systems, and frameworks that helped him transition from experiencing multiple burnouts to achieving multiple seven-figure revenues.

About Colby Wegter:

Colby Wegter has been involved in digital marketing since 2013 and has spent the last eight years as a partner in a bootstrapped agency that ranks among the top 1% globally, according to Clutch. His journey began on a farm, in a house without air conditioning, in a small town with no stoplights and a population of 600. He attended a Big Ten university and graduated with a degree in elementary education. Following graduation, Colby took a teaching job in Brooklyn, NY, but he left after just 4.5 months. Colby then joined BrandYourself as employee number 12, where he launched and managed the highest volume service, handling 160 clients simultaneously. After a year with BrandYourself, the company was featured on Shark Tank and turned down a $2 million offer from Robert Herjavec. After leaving BrandYourself, Colby moved to a marketing agency in the Twin Cities before co-founding Agency Jet with two partners. Under Colby's leadership, Agency Jet experienced remarkable growth, doubling its revenue every year for six years and is projected to reach $2.8 million in revenue this year. Throughout his career, Colby’s core strength has been retaining clients for unusually long periods. While the average client retention in the digital marketing industry is about six months, Colby often retains clients for over three years, with many staying with Agency Jet for up to six years. Colby is known for his strong opinions on delighting and delivering value to clients. With a philosophy of prioritizing clients first, employees second, and investors third, Agency Jet has grown from zero clients and revenue in 2016 to over 70 clients, eight full-time staff members, and $2.8 million in annual recurring revenue. The agency excels in providing world-class customer service while maintaining a lean operational model, compared to other agencies in the $2 million revenue range that typically have 20 or more employees. On the podcast, Colby would like to discuss strategies for scaling with less stress, as he is now focused primarily on strategy and inbound marketing, having stepped back from day-to-day operations at Agency Jet. He can provide insights on scaling through automation, team management, and maintaining long-term client relationships for predictable recurring revenue. Additionally, Colby is working on a community for agency owners called Delivery Mastery. This community aims to support agency owners who have yet to reach seven figures in revenue, offering a network of peers an...

With a passion for the value, community brings to a brand -- Dan consults companies in how to best use digital content and advertising to build an authentic and genuine personality that a community can relate to.

Having helped craft campaigns for H&M, Toyota, FOX TV, and many more Dan has unique and in-depth experience to back the strategies he implements. One of Databird Research Journals "Top 100 Keynote Speakers to Watch in 2019" Dan is excited about bringing the message of relational marketing to stages, conferences and events internationally and helping businesses take back their personalities.

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Susana Yee is marketing expert and a pioneer in the field of social media and influencer marketing.

Susana is founder of Digital Everying Consulting and Creator of The Influencer Marketing Roadmap Course. She helps companies and brands learn how to create effective strategy driven influencer marketing campaigns.

Susana was featured as 2011 "Social Media Marketing Pioneer" on the eHow Shift 100 mentioned in Bloomberg.

Her team created the Guess Jeans Pinterest campaign that was named "5 Interesting Pinterest Marketing Campaigns" by Mashable and Yahoo.

Connect with Susana at DigitalEverything.Consulting.