Sunday Short: Law of the Lid & Saving for Your Future First
In the latest episode of the Money Mastery Unleashed podcast, host Adam Olson, a certified financial advisor, presents a concise Sunday short episode, blending financial wisdom with leadership principles. Drawing from John Maxwell's "21 Irrefutable Laws of Leadership," Adam explores the "Law of the Lid," emphasizing how a leader's ability caps their overall effectiveness. He illustrates this with the biblical story of David and Goliath and the leadership outcomes of Hebrew kings. Transitioning to his own book, "21 Things You Need to Know About Money," Adam discusses the importance of saving at least 20% of one's income for retirement before assisting with children's college expenses. He warns against the generational cycle of debt and advocates for prioritizing long-term financial security. Adam's challenge to listeners is to elevate their leadership potential within their households and to model behaviors they wish their children to emulate. He shares practical advice on using Roth IRAs for both retirement and educational savings, underscoring the necessity of breaking the cycle of financial dependency.
"Don't sacrifice your retirement for your children's college. Be the one in your family to prioritize long-term financial planning."
Key Takeaways:
David’s faith and leadership leading to victory
Saving for your future first
Practical advice on Savings
Saving at least 20% of your income for retirement
Learn more about Adam Olson by visiting the following links:
Personal Website
Business Website
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Investing involves risk, including loss of principal.
Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions. Any strategies discussed may not be suitable for everyone.
Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC. Adam Olson, Representative. Mutual of Omaha Investor Services is not affiliated with any entity listed herein.
This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product.
Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties. Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.
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