Shows
Financial ConditioningFrom Humble Beginnings to Financial Success: Rachel Rodgers' Path to WealthIn episode 102 of Financial Conditioning, Simon Karmarkar delves into the inspiring journey of Rachel Rodgers, who transformed her financial beginnings into a multimillion-dollar business success. The episode explores the significance of understanding and balancing passive income, offering valuable insights for those seeking financial freedom. Simon also provides practical tax tips specifically tailored for rideshare drivers, helping them maximize their earnings. The episode concludes with a summary and closing remarks, encouraging listeners to apply these insights and take control of their financial futures.
(0:00) Introduction to episode 102
(0:32) Rachel Rodgers' journey from financial beginnings to multimillion-dollar business owner
(3:21) Understanding and balancing passive income
(6:51...2025-06-0511 min
Financial Conditioning#612: How to Know If You’re Cut Out for Entrepreneurship Before You Risk Everything, with Grant SabatierIn episode 101 of Financial Conditioning, Simon Karmarkar introduces listeners to the journey of Grant Sabatier and the various stages of entrepreneurship. The discussion delves into building sustainable systems and fostering intentional growth within the entrepreneurial landscape. Simon explores the concept of empire entrepreneurship, addressing common business pitfalls and the importance of creating opportunities. The episode wraps up with closing remarks and a reminder for listeners to subscribe, offering insights into navigating the entrepreneurial path with a focus on sustainability and growth.
(0:00) Introduction to episode one hundred and one
(0:38) Grant Sabatier's journey and the stages of entrepreneurship
(1:50) Building sustainable systems and...2025-06-0204 min
Financial ConditioningCelebrating 100 Episodes: Inspiring Middle-Class Millionaire Journeys and Financial TipsIn episode 100 of Financial Conditioning, Simon Karmarkar celebrates the show's milestone by exploring the rise of middle-class multi-millionaires. He shares the inspiring story of Luis, who achieved multi-millionaire status through strategic asset ownership and diversifying income sources. The episode also discusses the importance of preparing the next generation for financial independence, offering practical budgeting advice inspired by Rachel Cruze. Simon wraps up the episode with motivational insights, encouraging listeners to pursue their financial goals with determination and foresight, highlighting actionable steps for achieving financial success.
(0:00) Introduction to the 100th episode and the rise of middle-class multi-millionaires
(1:30) Luis's journey to becoming...2025-05-2908 min
Financial ConditioningThe Choices We Make To Achieve Financial Freedom Aren't For EveryoneIn episode 99 of Financial Conditioning, Simon Karmarkar explores the concept of financial independence, focusing on spending habits and their impact on financial freedom. He discusses the pros and cons of renting versus selling homes and reflects on his upbringing and family living arrangements, highlighting the choices and sacrifices made for financial freedom. Simon encourages listeners to critically evaluate their personal financial decisions, offering insights into achieving financial independence. The episode concludes with closing remarks, urging listeners to take actionable steps toward their financial goals.
(0:00) Introduction to financial independence and today's topic
(0:35) Discussion on spending habits and financial freedom, including renting...2025-05-2604 min
Financial ConditioningMastering Budgets, Automation, and Retirement Planning with Joe Saul-SehyIn episode 98 of Financial Conditioning, Simon Karmarkar delves into essential budgeting strategies, including zero-based budgeting, realistic planning, and useful tools. He highlights the benefits of automating finances and meal planning and introduces a weekly budget for tracking expenses. Simon also covers sensible credit card use, setting limits, and the role of accountability partners. Retirement readiness is explored with a focus on portfolio strategies and transitions. Expert Joe Saul-Sehy shares investment insights, and Simon discusses customizing retirement plans and overcoming behavioral challenges, concluding with tips for financial empowerment.
(0:00) Introduction and episode overview
(0:42) Budgeting Essentials: Zero-based, Realism, and Tools
(2:22) Automating Your Finances...2025-05-2209 min
Financial ConditioningRobert Rosenkrantz: From Financial Struggles to Investment Success and PhilanthropyIn episode 97 of Financial Conditioning, Simon Karmarkar introduces Robert Rosenkrantz, exploring his background, early life financial struggles, and career milestones. The episode delves into Rosenkrantz's investment philosophy, negotiation techniques, and business achievements, highlighting his path to success. Simon discusses Rosenkrantz's philanthropic efforts and his practice of stoic principles. The episode also covers adjustable-rate mortgages (ARMs), their benefits, and strategies for mortgage choice, emphasizing the financial gains ARMs can offer. Simon concludes by applying the discussed principles, encouraging listeners to integrate these insights into their financial strategies for personal growth and success.
(0:00) Introduction to Robert Rosenkrantz and his background
(0:37) Early life...2025-05-1908 min
Financial ConditioningNavigating Property Sales, FSAs, and Real Estate Investment StrategiesIn episode 96 of Financial Conditioning, Simon Karmarkar shares his experience with property sales, offering market insights and discussing landlord challenges. He delves into investment diversification, tax implications, and the emotional aspects of selling property. Simon also explores life transitions and Flexible Spending Accounts (FSAs), covering their types, tax benefits, and rules. The episode discusses FSA fund expiration, rollover options, the evolution of financial advice, and media influence. Simon compares renting versus buying strategies and concludes by emphasizing personal finance as an individual journey, closing with gratitude and encouragement.
(0:00) Introduction to the episode
(0:26) Selling Property: Personal Story and Market Insights
(1:26) Diversifying...2025-05-1514 min
Financial ConditioningWhat Happens If I Don’t File My Taxes on Time?In episode 95 of Financial Conditioning, Simon Karmarkar dives into the intricacies of tax filing, providing a comprehensive overview to help listeners navigate Tax Day with confidence. He discusses the specifics of handling late filings, offering guidance for those who may find themselves behind schedule. The episode also covers strategies for managing taxes when expecting a refund or facing challenges in paying on time, equipping listeners with practical solutions to meet their obligations. Simon concludes with encouraging remarks, motivating listeners to approach tax season proactively and highlighting the importance of staying informed and prepared in their financial journey.
(0:00) Introduction and overview...2025-05-1204 min
Financial ConditioningTransforming Lives: Financial Education and Millionaire MilestonesIn episode 94 of Financial Conditioning, Simon Karmarkar highlights Somerset High School's journey into financial education, showcasing the role of Ramsey Education and Terry White in transforming students' financial literacy. Through firsthand student experiences with budgeting exercises, the episode illustrates the transformative power of financial education. Simon delves into the emotional journey students undergo as they reach millionaire milestones, emphasizing the long-term impact of early financial education. The episode concludes with encouraging remarks, motivating listeners to pursue financial literacy and empowerment, and highlighting the importance of financial education in shaping future financial success.
(0:00) Somerset High School's financial education journey
(1:02) Role of...2025-05-0810 min
Financial ConditioningRecession Strategies: Early Retirement, AI Investments, and Budgeting TipsIn episode 93 of Financial Conditioning, Simon Karmarkar addresses recession concerns for early retirees, offering insights on sustaining retirement and investment strategies during economic downturns. He explores the potential of investing in AI, highlighting the importance of resourcefulness in uncertain times. The episode also provides practical budgeting tips and strategies to reduce grocery expenses, helping listeners manage their finances more effectively. Simon wraps up with closing remarks on achieving financial freedom, encouraging listeners to remain adaptable and proactive in their financial planning.
(0:00) Introduction and insights on recession concerns for early retirees
(2:33) Sustaining retirement and investment strategies during a recession
(5:21) Investing in...2025-05-0516 min
Financial ConditioningHow to Budget With the Cash Envelope SystemIn episode 92 of Financial Conditioning, Simon Karmarkar introduces listeners to the cash envelope system and zero-based budgeting, offering a practical approach to managing finances. The episode guides listeners through the process of setting up and managing cash envelopes, providing step-by-step instructions for implementation. Simon discusses the pros and cons of using the cash envelope system, highlighting its effectiveness in promoting disciplined spending and potential drawbacks. The episode concludes with Simon's final thoughts, encouraging listeners to consider how these budgeting strategies can enhance their financial management and support their journey toward financial freedom.
(0:00) Introduction to the cash envelope system and zero-based...2025-05-0105 min
Financial ConditioningNavigating Financial Growth: Kids, Milestones, and the Psychology of SuccessIn episode 91 of Financial Conditioning, Simon Karmarkar explores the potential for financial growth during stock market downturns, emphasizing strategies suitable for young investors. He discusses the importance of reassessing risk and achieving investment milestones. The episode delves into the psychology behind reaching six-figure financial success, providing listeners with insights into mindset shifts. Simon shares entrepreneurial insights for those embarking on financial ventures, highlighting the critical 'Last Mile' in financial journeys. The episode concludes with personal takeaways on perseverance in finance, encouraging listeners to remain steadfast in their financial pursuits.
(0:00) Introduction to financial growth through stock market downturns for kids
(3:30) Reassessing...2025-04-2812 min
Financial ConditioningInvestment Choices and Financial Goals: Real Estate, Equity, and Luxury HomeownershipIn episode 90 of Financial Conditioning, Simon Karmarkar introduces Nick's investment journey, setting the stage for a comparison between real estate and private equity investments. The episode explores alternative investment options, providing listeners with diverse strategies to consider. Simon offers financial insights on owning a $10 million home, discussing the implications for wealth management and lifestyle choices. The episode concludes by emphasizing the importance of aligning homeownership with one's financial goals, encouraging listeners to thoughtfully integrate their real estate decisions into their broader financial plans.
(0:00) Introduction and Nick's investment journey
(1:37) Real estate vs. private equity investments
(3:21) Alternative investment options
(4:03) Financial insights on...2025-04-2407 min
Financial Conditioning#600: Mini-Retirements Are the New Early Retirement – with Mom of Six, Jillian JohnsrudIn episode 89 of Financial Conditioning, Simon Karmarkar introduces the concept of mini-retirements, featuring insights from Jillian Johnsrud's personal journey. The episode delves into the practical and financial planning necessary for undertaking mini-retirements, providing listeners with actionable steps. Simon shares emotional revelations and recounts recent family adventures, illustrating the personal impact of taking breaks from traditional work life. The episode concludes with Simon's reflections on the benefits of mini-retirements, encouraging listeners to consider how such breaks can contribute to overall financial and personal well-being.
(0:00) Introduction to mini-retirements and Jillian Johnsrud's journey
(2:23) Practical and financial planning for mini-retirements
(3:18) Emotional revelations and recent...2025-04-2104 min
Financial ConditioningMastering Business Acquisitions and Personalized Financial StrategiesIn episode 88 of Financial Conditioning, Simon Karmarkar opens with insights into the millionaire formula, setting the stage for a deep dive into business acquisition. He highlights the advantages and necessary skill sets for acquiring businesses. The episode features an interview with Codie Sanchez, who shares her expertise on business acquisition strategies. A Q&A session follows, addressing retirement strategies, the real estate market, and the ongoing rent-versus-buy debate. Simon wraps up the episode by emphasizing the importance of personalized financial decisions, offering listeners practical advice for navigating their financial journeys.
(0:00) Welcome and millionaire formula insights
(1:29) Advantages and skill sets for...2025-04-1707 min
Financial ConditioningMastering Taxes, Budgeting, and Financial Stability for Homeowners and FamiliesIn episode 87 of Financial Conditioning, Simon Karmarkar and guest Natalie Kolodij explore tax strategies, debunking common misconceptions and maximizing deductions. They discuss selling primary residences, business expense tracking, and recent tax law changes. Simon introduces zero-based budgeting for better expense management. The episode also tackles homeownership challenges, offering tips for the first year. Job security is highlighted, focusing on safeguarding positions and building strong work relationships. Simon concludes with strategies for dual unemployed parents and emphasizes the importance of cherishing family time.
(0:00) Introduction and episode overview
(0:34) Exploring tax strategies with guest Natalie Kolodij
(1:01) Common tax misconceptions and maximizing deductions
(2:13) Misconceptions...2025-04-1428 min
Financial ConditioningEmpowering Communities with Financial Education and Investment StrategiesIn episode 86 of Financial Conditioning, Simon Karmarkar explores the significance of financial education in underprivileged communities, highlighting its role in fostering financial empowerment. He interweaves personal anecdotes with statistics to shed light on the pressing issue of student loan debt. The episode outlines the goals and potential impacts of personal finance education, emphasizing its importance in equipping individuals to navigate uncertain economic times. Simon delves into investment strategies tailored for bear markets and various asset classes, offering actionable insights. The episode concludes with Simon's reflections on the transformative power of financial education in achieving financial freedom.
(0:00) Introduction to financial education...2025-04-1008 min
Financial ConditioningBuilding Wealth and Security Amidst Economic Uncertainty and StagflationIn episode 85 of Financial Conditioning, Simon Karmarkar introduces the themes of financial freedom and navigating economic uncertainty. He contrasts real estate and stocks as vehicles for wealth-building, discussing how to manage downturns in each. Simon emphasizes the value of a paid-off home during challenging economic times. The episode delves into stagflation, offering insights and preparation strategies for its economic impact. Simon provides strategies for maintaining financial security amidst stagflation, including income diversification and managing rental properties. He addresses retirement planning during uncertain economic conditions and shares expert insights on market developments. The episode concludes with closing remarks on staying informed.
(0:00...2025-04-0724 min
Financial ConditioningNavigating Financial Independence: Real Estate, Investments, and Roth IRA StrategiesIn episode 84 of Financial Conditioning, Simon Karmarkar introduces the journey towards financial independence. He addresses listener questions on real estate decisions and investment risks, providing insights into navigating these challenges. The episode delves into asset allocation strategies, emphasizing the importance of diversifying investments. Simon discusses maximizing Roth IRAs as a key component of financial planning. He explores the mental shift necessary for achieving financial independence, highlighting the mindset changes required. A brief mention of the episode's sponsor, TaxSlayer, precedes the wrap-up. Simon concludes with closing remarks, offering encouragement and practical advice for those on the path to financial freedom.
(0:00) Introduction...2025-04-0308 min
Financial ConditioningInvolving Kids in Business and Financial Resilience During StagflationIn episode 83 of Financial Conditioning, Simon Karmarkar begins by welcoming listeners and introducing the episode's themes. He discusses the importance of encouraging children to engage in business activities and outlines the benefits of compensating them for their contributions. The episode shifts focus to the concept of stagflation, with Simon providing insights on understanding and preparing for this economic condition. He highlights key strategies for surviving stagflation, offering practical advice for maintaining financial stability. The episode concludes with Simon's closing remarks, leaving listeners with thoughtful considerations on fostering financial acumen in both children and adults.
(0:00) Welcome and introduction
(0:27) Encouraging children in...2025-03-3112 min
Financial ConditioningCareer Aspirations, Financial Lessons, and Wealth Insights with Humphrey YangIn episode 82 of Financial Conditioning, Simon Karmarkar explores the evolving landscape of career aspirations, with a focus on the creator economy. He interviews Humphrey Yang, who shares the realities of content creation and its financial implications. Simon discusses coping with financial regrets and emphasizes viewing mistakes as valuable lessons. He delves into strategies for learning from and reframing financial errors. The episode also revisits Sam Dogen's "Millionaire Milestones," highlighting key wealth-building strategies. Simon concludes with personal anecdotes and reflections, offering listeners insights into navigating financial challenges and opportunities in the modern economy.
(0:00) Introduction and episode overview
(0:39) Insights on new career...2025-03-2712 min
Financial ConditioningMastering Irregular Budgets: Zero-Based Strategies and Financial Samurai InsightsIn episode 81 of Financial Conditioning, Simon Karmarkar explores the challenges and strategies of budgeting with an irregular income. He provides a detailed guide on creating a zero-based budget, emphasizing its effectiveness in managing finances. The episode underscores the importance of financial literacy, with an overview of Ramsey Education's role in empowering individuals. Simon shares insights on knowing when to cut financial losses, drawing lessons from Financial Samurai. The episode concludes with thoughtful reflections, offering listeners valuable advice on navigating financial complexities and enhancing their financial literacy.
(0:00) Introduction to budgeting with an irregular income
(1:10) Steps to creating a zero-based budget
(4:30) Importance...2025-03-2412 min
Financial ConditioningMillionaire Strategies: Insights from Sam Dogen and Tax Tips for the Self-EmployedIn episode 80 of Financial Conditioning, Simon Karmarkar introduces listeners to "Millionaire Milestones" by Sam Dogen, offering an overview of the book's wealth-building strategies. Simon delves into Dogen's background and compares the millionaire lifestyle depicted in the book to other wealth literature. The episode explores tax strategies for the self-employed, covering deductions for health and business insurance, travel, home office, startup costs, and marketing. Simon also discusses the pros and cons of paying off a low-interest-rate mortgage early. The episode concludes with thoughtful closing remarks, providing listeners with practical financial insights.
(0:00) Introduction and book announcement
(0:39) Overview of "Millionaire Milestones" by Sam...2025-03-2016 min
Financial ConditioningBuilding Stability: Homeownership, Investment Strategies, and Financial SecurityIn episode 79 of Financial Conditioning, Simon Karmarkar reflects on the concept of financial security and shares personal insights into investments. He discusses the stability and advantages of owning a paid-off home as a cornerstone of financial stability. The episode features a debate between Paul Merriman and Dr. Karsten Jeske, offering diverse perspectives on investment strategies. Simon also delves into broader investment strategies and shares insights from personal financial journeys, providing listeners with practical advice on navigating their own financial paths.
(0:00) Introduction to financial security and personal reflections on investments
(2:38) The stability and benefits of owning a paid-off home
(4:24) Investment debate...2025-03-1708 min
Financial ConditioningThriving in Recessions: Budgeting, Wealth-Building, and Financial OpportunitiesIn episode 78 of Financial Conditioning, Simon Karmarkar discusses the surprising positive impacts of a recession, highlighting wealth-building opportunities and potential social benefits. He explains how recessions can serve as catalysts for significant life changes and better financial planning. Simon provides actionable steps to create an effective budget and offers an overview of the Earned Income Tax Credit (EITC). He also examines how to assess risk in retirement investments. The episode wraps up with thoughtful insights on financial planning, encouraging listeners to view economic downturns as opportunities for growth and preparation.
(0:00) Introduction to the positive impact of a recession
(2:19) Wealth-building opportunities...2025-03-1317 min
Financial ConditioningCrafting Investment Strategies: Risk, Allocation, and Thriving in Bear MarketsIn episode 77 of Financial Conditioning, Simon Karmarkar explores the complexities of investing large sums and assessing associated risks. He guides listeners through creating a capital allocation strategy and explains the benefits of the dollar-cost averaging approach. Simon emphasizes the importance of developing a comprehensive investment game plan and allocating funds for personal enjoyment. He introduces the concept of the vulture investor mindset, preparing for bear markets and recessions, and spotting opportunities in troubled markets. The episode also highlights the strategic use of cash as a vulture investor, concluding with insightful closing remarks.
(0:00) Investing large sums & assessing risk
(1:24) Creating a capital...2025-03-1009 min
Financial ConditioningMastering Savings and Investments: Budgeting, Real Estate, and the Path to Financial FreedomIn episode 76 of Financial Conditioning, Simon Karmarkar introduces the 20% savings rule and the 50/30/20 budgeting strategy, detailing how 'Baby Steps' can aid in setting specific savings goals. He explores effective budgeting strategies and saving per paycheck, illustrated through Debi's dilemma of saving for a down payment and Lucas's journey to financial independence. Simon discusses the efficient frontier with Grant and examines the benefits of chaos and uncertainty for real estate investors. The episode emphasizes the importance of diversifying investment portfolios, particularly in the face of economic uncertainty, and concludes with insightful closing remarks.
(0:00) Welcome and introduction to Financial Conditioning
(0:23) The 20% savings...2025-03-0612 min
Financial ConditioningTeaching Kids Financial Skills: Pathways to Wealth and the Balance of Purpose and PrudenceIn episode 75 of Financial Conditioning, Simon Karmarkar delves into financial independence, emphasizing the importance of teaching children financial skills. He explores pathways for kids to become millionaires through work and investing, using ProjectionLab to illustrate potential earnings for teenagers. Guest Scott Yamamura joins to discuss compound interest. Simon uses personal anecdotes and a Rubik’s Cube analogy to highlight the role of purpose in wealth building and the dangers of waiting for perfect opportunities. The episode also considers emotional factors, convenience, and balancing financial prudence with a fulfilling life.
(0:00) Introduction to financial independence and teaching financial skills to children
(2:08) Pathways to...2025-03-0312 min
Financial Conditioning#585: Q&A: The Hidden Tax Drain in Your Investment StrategyIn episode 74 of Financial Conditioning, Simon Karmarkar delves into the intricacies of managing taxes within investment strategies. He explores common dilemmas in retirement planning, such as choosing between an ESOP and a 401(k), and the considerations for early retirement abroad. Simon shares key takeaways on effective tax management to enhance financial strategies. The episode concludes with closing remarks that encourage listeners to approach retirement planning with a comprehensive understanding of tax implications.
(0:00) Introduction to the episode
(0:26) Managing Taxes in Investment Strategies
(1:44) Dilemmas in Retirement Planning: ESOP vs. 401(k) and Early Retirement Abroad
(3:05) Key Takeaways on Tax Management
(3:27) Closing Remarks
2025-02-2704 min
Financial ConditioningThe Five Types of Wealth: Building Balance, Embracing Mindset, and Planning for the FutureIn episode 73 of Financial Conditioning, Simon Karmarkar explores Sahil Bloom's wake-up call and the concept of the five types of wealth. He introduces practical exercises for building and balancing wealth, emphasizing the Million-Dollar Mindset and the philosophy of "Memento Mori." The episode delves into key principles and traits of personal finance enthusiasts, offering investment strategies and solutions to economic challenges. Simon discusses planning for financial security and children's futures, while also highlighting the importance of embracing healthier living and new investment opportunities. The episode wraps up with insights on adopting the million-dollar mindset for financial success.
(0:00) Welcome and introduction to...2025-02-2409 min
Financial ConditioningBalancing Family Life and Financial Independence: Strategies for Travel, Parenthood, and RetirementIn episode 72 of Financial Conditioning, Simon Karmarkar discusses financial strategies for family travel and parenthood. He explores balancing the FIRE lifestyle with family life, offering insights on maintaining financial goals. The episode covers IRAs, tax advantages, and investment strategies for early retirement, emphasizing diversification and managing stock options. Simon highlights the importance of personalized financial strategies, helping listeners make informed decisions tailored to their unique circumstances.
(0:00) Welcome and introduction
(0:35) Financial concerns and strategies for family travel and parenthood
(5:13) Balancing FIRE lifestyle with family life and work arrangements
(5:42) Understanding IRAs and tax advantages
(6:57) Investment and asset allocation strategies for early retirement
(8:11...2025-02-2010 min
Financial ConditioningLifestyle Choices and the Earned Income Tax Credit: Balancing Sacrifice and Financial BenefitsIn episode 71 of Financial Conditioning, Simon Karmarkar delves into lifestyle choices and their impact on financial independence. He shares insights from a weekend experiment, highlighting the sacrifices made for financial freedom. The episode covers the Earned Income Tax Credit (EITC), discussing eligibility, qualifying income types, and potential amounts, while addressing common disqualification reasons. Simon emphasizes the importance of informed financial decisions and encourages listeners to consider the broader implications of their lifestyle choices.
(0:00) Introduction to the episode topic and reflections on lifestyle choices
(1:16) The sacrifices made for financial independence and a weekend experiment
(3:04) The financial impact of lifestyle choices
(4:04) Introduction...2025-02-1708 min
Financial ConditioningNavigating Financial Decisions: Tax Filing Tips and the Mortgage Deduction ExplainedIn episode 70 of Financial Conditioning, Simon Karmarkar introduces the episode's focus on navigating financial crossroads. He explores Paula Pant's financial dilemma with her Clearwater condo, highlighting the complexities of such crossroads. Simon provides a comprehensive guide to addressing tax filing and payment issues, offering practical advice for those facing challenges in this area. The episode also includes an in-depth examination of the Mortgage Interest Deduction, discussing its implications for homeowners. Throughout the episode, Simon provides insights and strategies to help listeners make informed financial decisions when encountering similar situations.
(0:00) Welcome and introduction to today's episode
(0:26) Paula Pant's financial crossroads and...2025-02-1311 min
Financial ConditioningTax Cuts for the Middle Class and Retirees: A Win for Your WalletIn episode 69 of Financial Conditioning, Simon Karmarkar introduces the discussion on recent tax changes and their implications. He explores the impact and benefits of proposed tax cuts specifically targeting service workers, retirees, and those earning overtime pay. The episode delves into the renewal of the Trump Tax Cuts, adjustments to the SALT cap, and efforts to close existing tax loopholes. Simon discusses tax incentives aimed at promoting Made in America products, alongside the challenges posed by reduced government revenue. The episode concludes by highlighting the financial benefits these changes bring to middle-class Americans and retirees, offering insights into navigating the...2025-02-1005 min
Financial ConditioningDon't Lose Financial Opportunities Due To A Lack Of Hard WorkIn episode 68 of Financial Conditioning, Simon Karmarkar opens with an introduction to the episode's focus on the role of hard work in achieving financial success. He discusses how hard work creates opportunities, emphasizing its importance in the real estate industry and the necessity of choosing the right agents who hustle. Simon highlights hard work as an equalizer, sharing insights on the value of long hours and dedication. He explores the concept of conquering the morning, reinforcing that effort requires no skill and is accessible to all. The episode wraps up with a motivational farewell, encouraging listeners to embrace effort as...2025-02-0605 min
Financial ConditioningCourage in Finance, 401(k) Student Loan Match, and Federal Severance InsightsIn episode 67 of Financial Conditioning, Simon Karmarkar welcomes listeners with an introduction to the episode's theme. He engages with Dr. Margie Warrell, who shares her insights on the role of courage in financial decision-making. The episode explores the 401(k) student loan match program, offering a detailed understanding of its benefits and implications. Simon also evaluates severance packages for federal employees, providing guidance on what to consider when faced with such decisions. The episode concludes with Simon's final thoughts on the topics discussed, encouraging listeners to approach financial challenges with confidence and informed decision-making.
(0:00) Welcome and introduction to the topic
(0:24) Dr...2025-02-0311 min
Financial ConditioningStudy: 79% of Taxpayers Expect a Refund and Already Know How They’ll Spend ItIn episode 66 of Financial Conditioning, Simon Karmarkar provides an introduction and overview of tax refunds, exploring how they can be effectively used. He discusses the prioritization and breakdown of refund usage, offering guidance on making the most of your refund. The episode delves into the motivation for early tax filing, highlighting generational differences in filing behaviors. Simon examines expectations and trends in refund amounts, addressing reasons for changes in these figures. The episode concludes with insights on managing tax refunds wisely to enhance financial conditioning.
(0:00) Introduction and Overview of Tax Refunds
(1:05) Prioritization and Breakdown of Refund Usage
(2:20) Motivation for Early...2025-01-3005 min
Financial ConditioningInsights from Investing Greats, Achieving Millionaire Status, and Mindful Spending StrategiesIn episode 65 of Financial Conditioning, Simon Karmarkar welcomes listeners with insights from William Green on investing greats, emphasizing the importance of understanding odds, risk, and decision-making frameworks. He delves into building an anti-fragile life and learning from investment mistakes. The episode features an introduction to Sam Dogen and his book "Millionaire Milestones," discussing the necessity and impact of achieving millionaire status. Simon analyzes the current state of personal finance in America, addressing challenges and strategies for mindful spending and saving. He also reflects on the giving spirit in America and offers cautions about lending money, concluding with final thoughts on...2025-01-2714 min
Financial ConditioningThe Psychology of Financial Pressure, Debt Repayment Strategies, and Retirement Account ChoicesIn episode 64 of Financial Conditioning, Simon Karmarkar welcomes listeners with an introduction to the psychology of financial pressure. He engages with Dr. Sunita Sah, who shares her background and insights on compliance in financial decision-making. Simon recounts a personal tale highlighting the risks of margin trading and explains its inherent dangers. The episode offers strategic advice on debt repayment, comparing the debt avalanche and debt snowball methods. Simon also discusses the considerations for choosing between Roth and traditional retirement accounts, providing listeners with guidance on making informed retirement planning decisions.
(0:00) Welcome and introduction to the psychology of financial pressure
(1:02) Dr...2025-01-2315 min
Financial ConditioningFinancial Strategies for High-Income Earners, Single Moms, and Family SupportIn episode 63 of Financial Conditioning, Simon Karmarkar addresses financial challenges faced by high-income earners, offering planning and budgeting strategies to navigate these hurdles. He introduces the ProjectionLab tool for achieving financial independence, followed by tailored advice for single moms on budgeting and financial management. Simon emphasizes the importance of emergency funds, strategies for increasing income, and debt elimination. The episode also highlights the role of family involvement and support in financial matters, and offers tips for efficiently organizing and managing tax documents. Simon concludes with closing remarks and wraps up the episode.
(0:00) Introduction and financial challenges for high-income earners
(0:35) Financial...2025-01-2016 min
Financial ConditioningHobby vs. Business Taxes, Whole Life Insurance Strategies, and Capital Gains Tax UpdatesIn episode 62 of Financial Conditioning, Simon Karmarkar introduces the distinctions between hobbies and businesses for tax purposes, explaining key factors and IRS guidelines to consider. He delves into the nuances of filing taxes for a side business versus a hobby, including how to report hobby income. The episode also explores whole life insurance as a financial strategy, contrasting it with term life insurance, and discusses ways to profit from whole life insurance while avoiding tax pitfalls. Simon wraps up with an overview of capital gains tax, highlighting the rates for 2024 and 2025, providing listeners with essential tax insights for future planning.
(0:00...2025-01-1627 min
Financial ConditioningMaximizing Excess Investment Returns, Tax Credits for Students, and Home Valuation InsightsIn episode 61 of Financial Conditioning, Simon Karmarkar provides an introduction and overview before diving into the topic of celebrating and utilizing excess investment returns. He offers guidelines on how to spend these returns wisely, emphasizing the importance of understanding the power of compounding in investments. Simon also covers tax credits available for college students, specifically the American Opportunity Tax Credit (AOTC) and Lifetime Learning Credit, providing insights on eligibility and benefits. The episode concludes with a discussion on determining your home's value, offering practical advice for homeowners looking to assess their property accurately.
(0:00) Introduction and overview of the episode
(0:43) Celebrating...2025-01-1318 min
Financial ConditioningFinancial Tools for College Students, Quarterly Taxes, Real Estate, and Crypto StrategiesIn episode 60 of Financial Conditioning, Simon Karmarkar introduces financial tools for college students, covering budgeting, income management, and expense tracking. He explains zero-based budgeting and the importance of discipline in balancing budgets. Simon also discusses quarterly taxes for the self-employed, payment methods, and Form 1040-ES. He explores choosing the right real estate agent, technology's role in real estate, and commission negotiation. The episode also covers smart cryptocurrency investment strategies, aligning investments with risk tolerance, and understanding crypto taxes, concluding with future financial steps.
(0:00) Welcome and introduction to financial tools for college students
(1:13) Budgeting Basics: Income, Tools, and Expense Tracking
(3:40) Mastering...2025-01-0919 min
Financial ConditioningRedefining Retirement Income: Smart Planning and Lessons from Childhood Financial ScarcityIn episode 59 of Financial Conditioning, Simon Karmarkar begins by challenging traditional beliefs about retirement income and examining various sources available. He explores the power of compounding and the tax implications of retirement withdrawals, highlighting strategies for achieving higher retirement income through smart planning. Simon shares key takeaways for attaining financial independence in retirement and reflects on the benefits of experiencing financial scarcity in childhood. He discusses the influence of parental guidance and peer comparison on financial education and emphasizes the importance of shaping the next generation's financial future. The episode concludes with a wrap-up and closing remarks.
(0:00) Welcome and episode...2025-01-0607 min
Financial Conditioning#569: Financial Lessons We Learned – and What’s Ahead for 2025In episode 58 of Financial Conditioning, Simon Karmarkar welcomes listeners back and introduces the episode's focus on a 2024 financial roundup and predictions for 2025. He analyzes the key financial trends and events from the past year, offering insights into how they may shape the economic landscape in the upcoming year. Simon discusses potential opportunities and challenges that individuals might face, providing actionable advice for navigating them. The episode concludes with closing remarks and key takeaways, encouraging listeners to prepare for the future and make informed financial decisions.
(0:00) Welcome back and episode introduction
(0:39) 2024 Financial Roundup and 2025 Predictions
(3:12) Closing remarks and key takeaways
2025-01-0203 min
Financial ConditioningKey Insights from Financial Samurai: Episode 57 HighlightsIn episode 57 of Financial Conditioning, Simon Karmarkar welcomes listeners with an introduction to the concept of the Financial Samurai. He delves into key insights and highlights from this financial philosophy, exploring how it can guide individuals towards achieving financial freedom and resilience. Simon discusses the principles and strategies that define the Financial Samurai approach, offering listeners valuable lessons for managing their finances. The episode concludes with a summary and closing remarks, encouraging listeners to integrate these insights into their financial journeys and strive for greater financial empowerment.
(0:00) Welcome and Introduction to Financial Samurai
(1:50) Key Insights and Highlights from Financial Samurai
(3:33...2024-12-3004 min
Financial ConditioningTravel Adventures with United Airlines: Financial Benefits of Downgrading for Episode 56In episode 56 of Financial Conditioning, Simon Karmarkar kicks off with insights from his recent travel adventures. He shares the issues and necessary adjustments encountered during a United Airlines journey, highlighting the unexpected financial benefits that came with a ticket downgrade. Simon discusses how the savings were strategically used for vacation activities and future financial plans, demonstrating practical money management. He reflects on the experience of traveling in Economy Class, offering financial takeaways and encouraging listeners to consider how travel choices can impact their financial well-being.
(0:00) Introduction and travel adventure insights
(1:32) Issues and adjustments during United Airlines travel
(3:13) Financial benefits of...2024-12-2609 min
Financial ConditioningMastering Income Allocation with the 50/30/20 Rule for Episode 55In episode 55 of Financial Conditioning, Simon Karmarkar opens with an introduction to the episode's theme, focusing on the philosophy of income allocation. He discusses the strategic use of passive income to cover essential needs while addressing common challenges in achieving financial independence. The episode provides a detailed explanation of the 50/30/20 budget rule, offering insights into how listeners can adapt this budgeting method to their personal financial situations. Simon concludes with closing remarks, providing encouragement for listeners to embrace these strategies and take steps towards financial empowerment.
(0:00) Introduction to the episode and philosophy of income allocation
(3:15) Using passive income for essential...2024-12-2307 min
Financial ConditioningThe 100 Envelope Challenge and Maximizing Your Tax Refund for Episode 54In episode 54 of Financial Conditioning, Simon Karmarkar begins with an overview of the episode's focus on practical financial strategies. He introduces the 100 Envelope Challenge, explaining its basics and the benefits it offers for disciplined saving. The discussion then shifts to strategies for maximizing the impact of your tax refund, offering actionable tips for financial growth. The episode wraps up with a motivational conclusion, encouraging listeners to take control of their financial futures and implement the discussed strategies effectively.
(0:00) Introduction and episode overview
(0:36) The 100 Envelope Challenge: From Basics to Benefits
(5:03) Making the Most of Your Tax Refund
(8:23) Conclusion and motivational closing
2024-12-1909 min
Financial ConditioningReal Estate Investment Trends, Education Funding Myths, and Tax Tips for InfluencersIn episode 53 of Financial Conditioning, Simon Karmarkar introduces the episode with a focus on current real estate market trends. He examines the challenges and dynamics within housing markets, highlighting the potential for wealth creation through real estate investment. The discussion shifts to debunking financial misconceptions surrounding education funding, providing clarity for those planning for educational expenses. Simon also offers valuable tax insights specifically tailored for influencers and content creators, ensuring they are equipped with the necessary knowledge to manage their finances effectively. The episode concludes with a summary and closing remarks.
(0:00) Introduction to today's topic and real estate market trends
(2:05...2024-12-1614 min
Financial ConditioningCodie Sanchez's Shift to "Boring" Businesses and Tax Filing Strategies for Episode 52In episode 52 of Financial Conditioning, Simon Karmarkar introduces Codie Sanchez's intriguing journey from Wall Street to owning laundromats, highlighting the potential of "Main Street" business acquisitions. The episode delves into strategies for financing and succeeding in these ventures and emphasizes the importance of starting small, discussing the success rates of small businesses. Simon explores how building wealth with "boring" businesses can be rewarding. He provides a comprehensive guide to tax filing for those with no income, stressing its importance even in such situations. The episode concludes with closing remarks on the significance of diligent tax filing.
(0:00) Welcome and episode introduction
(0:25...2024-12-1208 min
Financial ConditioningExploring Boldin's Financial Planning Tools with Founder Steve ChenIn episode 51 of Financial Conditioning, Simon Karmarkar introduces the episode with an insightful interview featuring Steve Chen, the founder of Boldin. The discussion centers around Boldin's innovative financial planning tools and their role in empowering users to achieve financial freedom. Simon and Steve delve into the security measures and subscription details that ensure user confidence and accessibility. The episode wraps up with a summary and closing remarks, followed by a heartfelt thank you to the listeners and a sneak preview of the upcoming episode.
(0:00) Introduction to the episode
(0:51) Interview with Steve Chen - Founding Boldin and Financial Planning Tools
(5:06) Security...2024-12-0906 min
Financial ConditioningMaximizing Tax-Free Income, FIRE Strategies, and Cryptocurrency Insights for Episode 50In episode 50 of Financial Conditioning, Simon Karmarkar celebrates the milestone with a focus on maximizing tax-free income and withdrawals in retirement. He discusses strategies involving standard deductions and capital gains and explores the Financial Independence, Retire Early (FIRE) movement, emphasizing account balancing. A case study featuring Chris and Taylor illustrates an effective tax optimization strategy. The episode also covers the impact of state taxes, tax-free income avenues, and the role of Roth IRAs. Simon is joined by Tatiana Koffman for a discussion on cryptocurrency, touching on global trends and security measures. The episode concludes with gratitude for the listeners' support.
(0:00...2024-12-0511 min
Financial ConditioningThe Role of Luck, Negotiation Strategies, and Financial Conditioning InsightsIn episode 49 of Financial Conditioning, Simon Karmarkar explores the role of luck in financial success and how it contributes to personal overconfidence. He encourages reflection on net worth and the importance of appreciating financial breaks. Simon shares stories of landing a job at Goldman Sachs and a fortunate trade, leading to a transition to CSFB and the creation of Financial Samurai during the financial crisis. The episode delves into investing in future technologies like artificial intelligence and features insights from Matt Schultz on how negotiation impacts finances. Simon offers effective workplace negotiation strategies and concludes with reflections on luck, negotiation...2024-12-0215 min
Financial ConditioningMastering the Mega Backdoor Roth IRA and Innovative Retirement StrategiesIn episode 49 of Financial Conditioning, Simon Karmarkar explores the mega backdoor Roth IRA, beginning with an overview of the Roth IRA and its benefits. He delves into the specifics of the mega backdoor Roth IRA strategy, explaining how to contribute and the tax implications and withdrawal rules associated with it. Simon emphasizes the critical role of employer involvement in this strategy. The episode also covers retirement withdrawal strategies, including an explanation of the 4 percent rule, with insights from Bill Bengen. Simon concludes by examining innovative financial planning techniques and offering final thoughts on personalized strategies for financial success.
(0:00) Welcome and...2024-11-2513 min
Financial ConditioningUnderstanding Return on Effort (ROE) and Strategies for Financial FreedomIn episode 47 of Financial Conditioning, Simon Karmarkar delves into the concept of return on effort (ROE) and its relevance in personal and financial contexts. He explores how ROE functions in a bull market, assessing its psychological impacts and risks. Simon discusses the role of effort in career advancement and financial growth, alongside retirement savings and portfolio size influences on ROE. The episode offers investing strategies to enhance ROE, income diversification tips, and prioritizing value in time and energy. Simon shares comprehensive money-saving strategies for college students, analyzes rental property viability through a case study, and concludes with insights on achieving...2024-11-2127 min
Financial ConditioningReal-Life Retirement Spending, Phased Retirement, and Housing's Impact on Net WorthIn episode 46 of Financial Conditioning, Simon Karmarkar dives into the 4 percent rule and real-life retirement spending, offering insights into protecting against market downturns with a phased retirement approach. Christine Benz joins to discuss housing and retirement planning, emphasizing the importance of finding purpose and meaning beyond finances. The episode explores the 25x rule for retirement savings and strategies for managing liquidity and cash flow in retirement. Simon highlights the impact of housing on net worth and retirement planning, concluding with thoughtful reflections to guide listeners on their retirement journey.
(0:00) Introduction to the 4 percent rule and real-life retirement spending
(1:41) Protecting against...2024-11-1808 min
Financial ConditioningGen Z Financial Outlook, Risk Profiles, and Managing a Growing Net WorthIn episode 45 of Financial Conditioning, Simon Karmarkar introduces Andrew's financial journey, offering insights into Gen Z's financial outlook. The episode highlights key takeaways from various financial stories and generational perspectives, emphasizing the importance of understanding one's investment risk profile. Simon discusses the consequences of misaligned investment strategies and stresses the need for regular financial checkups to manage emotional impacts. As he explores managing a growing net worth, Simon wraps up the episode by encouraging listeners to remain vigilant and informed in their financial endeavors.
(0:00) Introduction to episode 45
(0:37) Andrew's financial journey and Gen Z's financial outlook
(3:21) Key takeaways from financial stories...2024-11-1408 min
Financial ConditioningMaximizing 401(k) Contributions, Taxable Investments, and Strategies for Financial FreedomIn episode 44 of Financial Conditioning, Simon Karmarkar explores the 2025 401(k) contribution limits and catch-up options for those aged 60-63, introducing the new retirement stool. He offers strategies to maximize contributions, build a taxable investment portfolio, and leverage compounding returns. Viewing 401(k) as retirement insurance, Simon shares insights for high-net-worth individuals and discusses income, expenses, and debt management. He delves into the Coast Financial Independence concept and stresses the importance of consulting a financial planner, all aimed at empowering your financial journey.
(0:00) Introduction and welcome to Financial Conditioning
(1:12) 2025 401(k) contribution limits and increases
(2:15) Catch-up contributions for employees aged 60-63 and the...2024-11-1119 min
Financial ConditioningEarly Retirement Journey, Financial Independence Advice, and Planning Under Presidential PoliciesIn episode forty-three of Financial Conditioning, Simon Karmarkar introduces Brandon Ganch's inspiring journey to early retirement and the lifestyle changes it entailed. Brandon shares his regrets and the influences that shaped his path to financial independence, offering valuable advice on testing life after achieving financial independence and suggesting further resources. The discussion transitions to the impact of presidential policies on financial planning, spanning from Obama to Biden. Simon concludes with insights on staying adaptable in financial planning, encouraging listeners to remain flexible and informed as they pursue their financial goals.
(0:00) Introduction to episode forty-three
(0:15) Brandon Ganch's journey to early retirement...2024-11-0707 min
Financial ConditioningInvestment Growth, Tax Strategies, and Future Planning for Financial SuccessIn this episode of Financial Conditioning, Simon Karmarkar begins with a reflection on financial progress, discussing growth in investments and real estate. He emphasizes the importance of personal finance resources and knowledge acquisition. The conversation shifts to wisdom, skill development, and career progress, highlighting personal contributions and family development. Simon explores future planning with updates on the 2025 tax brackets, explaining federal income tax rates and strategies for married couples. He also addresses tax considerations for retirees. The episode concludes with closing remarks and encouragement to stay financially conditioned.
(0:00) Introduction to the episode and financial progress reflection
(1:34) Growth in investments and...2024-11-0410 min
Financial ConditioningMerging Wealth Concepts, Side Hustles, and Unconventional Wealth-Building StoriesIn this episode of Financial Conditioning, Simon Karmarkar opens with a discussion on merging wealth-building concepts with their psychological impacts. He delves into practical side hustles and money-saving strategies, providing listeners with actionable tips. Simon shares inspiring stories of unconventional wealth-building, highlighting how unique approaches can lead to financial success. The episode concludes with a motivational send-off, encouraging listeners to implement these strategies and continue their journey towards financial freedom.
(0:00) Introduction to the episode
(0:39) Merging wealth-building concepts and psychological impacts
(3:02) Side hustles and money-saving strategies
(3:48) Inspiring stories of unconventional wealth-building
(4:27) Episode conclusion and motivational send-off
2024-10-3105 min
Financial ConditioningFrom Early Mistakes to Professional Trading, Stop Losses, and Budgeting TipsIn this episode of Financial Conditioning, Simon Karmarkar introduces a journey of financial transformation, beginning with early mistakes and evolving into professional trading. He highlights a turning point with Empower's free consultation that paved the way for successful investments in stocks and real estate. Simon underscores the importance of financial planning and professional advice, delving into the concept of stop losses with a case study on Nike investment. He draws parallels between stop losses and poker strategy, discussing their application beyond investing. The episode also offers practical tips for effective grocery shopping to aid budgeting. It concludes with reflections and...2024-10-2823 min
Financial ConditioningAdrian Brambila's Journey, Money Scripts, and Adapting Strategies for Financial SuccessIn this episode of Financial Conditioning, Simon Karmarkar delves into the concept of learned helplessness in finance and the influence of money scripts. He shares Adrian Brambila's financial journey and Dr. Brad's insights on meditation and planning. The discussion explores how social circles impact financial habits and touches on the FIRE movement. Simon examines money scripts within relationships and discusses the book 'Start Thinking Rich.' He offers strategies for navigating the financial landscape and adapting work, retirement, and investment plans for success. The episode wraps up with a recap and final thoughts on financial conditioning, concluding with a farewell.
(0:00...2024-10-2407 min
Financial ConditioningOvercoming Day Trading, Paul Merriman's Strategy, and Preparing Kids for Financial SuccessIn this episode of Financial Conditioning, Simon Karmarkar begins by introducing the journey from financial turmoil to success, sharing personal experiences of overcoming a day trading addiction. He emphasizes the importance of seeking professional financial guidance and explores asset allocation with aggressive investment strategies. Simon discusses Paul Merriman's Four-Fund Strategy and the significance of international investing. He offers insights on preparing children for financial success and avoiding common investing mistakes young investors make. The episode spotlights financial education programs, concluding with closing thoughts and words of encouragement for listeners on their financial journey.
(0:00) Welcome and Episode Introduction
(0:27) From Financial Turmoil...2024-10-2106 min
Financial ConditioningEarly Financial Lessons, Asset Allocation, and Securing Retirement with $2 MillionIn this episode of Financial Conditioning, Simon Karmarkar begins by sharing early financial lessons that shaped his approach to money management. He recounts a pivotal experience with a financial advisor at Empower, which led to a deeper understanding of asset allocation and diversification strategies. Simon emphasizes the importance of consulting with financial professionals to optimize financial planning. The discussion then shifts to retirement planning, specifically focusing on strategies for those with $2 million in savings. Simon provides actionable steps for securing financial stability in retirement. The episode concludes with reflections on these insights, offering a roadmap to financial security.
(0:00) Introduction and...2024-10-1707 min
Financial ConditioningInflation Analysis, SEP IRA Strategies, and Expert Retirement Insights with Dr. Karsten JeskeIn this episode of Financial Conditioning, Simon Karmarkar provides an overview of crucial financial topics, analyzing the interplay between inflation, unemployment, and the Federal Reserve's influence. He draws lessons from the Weimar Republic's hyperinflation, offering historical context. The episode features expert insights from Dr. Karsten Jeske on retirement planning and a comprehensive exploration of SEP IRAs, including contributions, benefits, and tax advantages for the self-employed. Simon discusses updates on Roth options introduced by Secure Act 2.0 and emphasizes the importance of consulting with a financial advisor. The episode concludes with key takeaways and reflections.
(0:00) Introduction and overview of financial topics
(1:03) Analysis...2024-10-1406 min
Financial ConditioningNegotiating Severance, Early Retirement Strategies, and Finding Financial PeaceIn this episode of Financial Conditioning, Simon Karmarkar introduces the topic of negotiating severance packages, dispelling common misconceptions and examining the impact of Automattic's severance offerings. He shares insights on negotiating severance and benefits as a strategy for early retirement, while addressing fears associated with job loss. Simon highlights Sondra's journey to financial peace and the role of term life insurance in her plan. The episode concludes with reflections on these discussions, offering listeners valuable perspectives on securing financial stability during career transitions.
(0:00) Introduction to the episode and severance package negotiation
(1:08) Misconceptions and Automattic's severance package impact
(4:53) Negotiating severance and...2024-10-1010 min
Financial ConditioningCombating Inflation, Early Retirement Planning, and Demystifying Tax BracketsIn this episode of Financial Conditioning, Simon Karmarkar explores financial strategies to combat inflation, offering practical tips and budgeting tools. He delves into the nuances of retirement planning, comparing early retirement with accumulating wealth. Simon discusses risks and passive income strategies for early retirees and the importance of balancing time and money in retirement decisions. He highlights common early retirement planning errors and the need to adapt financial strategies post-retirement. The episode also demystifies income tax brackets, providing a breakdown for 2024-2025. Simon concludes with strategies for financial empowerment, equipping listeners with actionable insights.
(0:00) Introduction to financial strategies against inflation
(1:11...2024-10-0721 min
Financial ConditioningEarly Retirement Stories, Housing Dilemmas, and Tax Relief for Natural DisastersIn this episode of Financial Conditioning, Simon Karmarkar opens with stories of early retirement, setting the stage for an insightful discussion on financial planning. The episode features an analysis of Ryan's housing dilemma and financial situation, offering strategies to address his challenges. Kat's investment strategy is also highlighted, focusing on considerations for transitioning her portfolio. Simon then shifts to the topic of tax relief for natural disaster victims, explaining the application process and providing advice on safeguarding tax documents from potential disasters. The episode concludes with a summary of key takeaways and practical advice for listeners.
(0:00) Introduction to the episode...2024-10-0311 min
Financial ConditioningTax Breaks for Parents, Education Credits, and Combating Government GriftIn this episode of Financial Conditioning, Simon Karmarkar begins with an overview of tax breaks available for parents, including student loan interest deductions and education credits. He explains the Earned Income Tax Credit and introduces the Government Grift segment. Simon shares his personal story and defines government grift, examining real-world examples and the incentives that perpetuate it. He offers strategies to combat government grift and wraps up with closing remarks and a preview of the next episode.
(0:00) Introduction and Tax Breaks for Parents
(1:25) Student Loan Interest Deduction and Education Credits
(3:47) Earned Income Tax Credit Overview
(4:49) Sponsor: TaxSlayer
(5:02) Government Grift Segment...2024-09-3012 min
Financial ConditioningUnderstanding Monthly Expenses: Housing, Health Care, and the Impact of InflationIn this episode of Financial Conditioning, Simon Karmarkar examines the typical monthly expenses faced by the average American. He provides a detailed breakdown of costs associated with housing and transportation, followed by insights into spending on food, insurance, and health care. The discussion extends to entertainment, pets, and charitable giving, as well as expenses related to apparel and education. Simon highlights the impact of inflation on these expenditures and underscores the importance of effective budgeting to manage financial pressures. This episode offers a comprehensive look at everyday financial challenges and strategies to navigate them.
(0:00) Introduction to the average American’s mo...2024-09-2607 min
Financial ConditioningFinancial Hypochondria: Media Impact, Community Judgment, and Understanding FICA TaxesIn this episode of Financial Conditioning, Simon Karmarkar explores the concept of financial hypochondria and introduces Katie Gatti Tassin, discussing money dysmorphia. The episode examines how media influences financial perceptions and how location affects spending habits. Katie shares her experiences with community judgment and evolving financial priorities, emphasizing the value of diverse perspectives and travel. Simon provides a detailed analysis of FICA tax, its components, and the implications for Social Security and Medicare. He also explains changes in tax forms like W-4 and W-2, compares FICA to federal income tax, and highlights the significance of year-to-date pay.
(0:00) Welcome and introduction...2024-09-2311 min
Financial ConditioningFinancial Journeys: Investment Thresholds, Real Estate Insights, and Maximizing Tax RefundsIn this episode of Financial Conditioning, Simon Karmarkar shares his financial journey and lessons learned. He introduces a formula for minimum investment thresholds, discusses tax advantages, and critiques early retirement through savings rates. Simon compares real estate with stocks, shares personal experiences, and emphasizes flexibility in financial planning. He offers tax filing tips for the self-employed and answers listener questions. The episode wraps up with a preview of what's next.
(0:00) Introduction to the episode and Simon's financial journey
(2:43) Financial Consultation and Minimum Investment Threshold Formula
(4:08) Tax advantages and key assumptions for investment
(5:21) Savings rate and critique of early retirement
(6:57) Examples...2024-09-1630 min
Financial ConditioningFinancial Freedom: Investment Strategies, Real Estate, and Advanced Tax OptimizationIn this episode of Financial Conditioning, Simon Karmarkar delves into the journey toward financial freedom by exploring effective investment strategies. He breaks down the calculation of minimum investment thresholds with practical examples and discusses balancing risk tolerance in diverse investment portfolios. The episode highlights the role of real estate in achieving financial independence and underscores the importance of setting and adapting financial goals. Simon offers insights into tax optimization, filing strategies, and maximizing refunds with tools like TaxSlayer. The episode concludes with a listener Q&A session, providing practical advice for financial empowerment and future planning.
(0:00) Introduction to financial freedom...2024-09-1629 min
Financial ConditioningTackling Financial Challenges: Tax Consultation, Retirement, and Home Renovation FinancingIn this episode of Financial Conditioning, Simon Karmarkar begins by addressing various financial challenges shared by listeners. He emphasizes the importance of consulting tax professionals and offers insights into effective retirement planning. The discussion then shifts to home renovation planning, exploring different financing options available to homeowners. Simon wraps up the episode with closing remarks and practical financial advice, providing listeners with actionable tips to tackle their financial goals and improve their financial well-being.
(0:00) Introduction and listener financial challenges
(1:29) Consulting tax professionals and retirement planning
(3:46) Home renovation planning and financing options
(4:56) Closing remarks and financial advice
2024-09-1205 min
Financial ConditioningMaking Work Optional: Investment Thresholds, Real Estate Insights, and Financial Independencenull
(0:00) Introduction to making work optional and Simon’s semi-retirement journey
(1:12) Investment threshold formula and key assumptions
(4:26) High risk vs. balanced portfolio vs. real estate investment examples
(10:02) The decision to work after reaching the investment threshold
(13:03) Financial independence and investment threshold alignment
(17:05) Impact of Federal Reserve rate cuts on the real estate market
(20:18) Ben Miller's real estate investment insights
(24:09) Ramsey Solutions State of Personal Finance report overview
(27:07) Americans' financial outlook and the impact of rising costs
(30:06) Challenges of saving amidst increasing prices
(31:49) Generational retirement savings anxiety and market confidence
(34:05) Unexpected money emergencies and causes
(36:09) Debt's impact on financial stress and cu...2024-09-0942 min
Financial ConditioningSuccession Planning, Direct Indexing, and Tax Optimization with Joe Saul-SehyIn this episode of Financial Conditioning, Simon Karmarkar introduces Joe Saul-Sehy's financial journey and the challenges faced in his family business. The discussion emphasizes the importance of succession planning in family enterprises to ensure longevity and stability. Simon then explores the concept of direct indexing, detailing strategies for effective tax management and loss harvesting. The episode highlights the advantages of personalization and tax optimization that direct indexing offers. Closing remarks underscore the benefits of direct indexing, providing listeners with practical insights for improving their financial strategies.
(0:00) Introduction to Joe Saul-Sehy's financial journey and family business struggles
(6:40) Importance of succession planning...2024-09-0531 min
Financial ConditioningExploring Automated Tax-Loss Harvesting, Roth IRA Strategies, and Long-Term BenefitsIn this episode of Financial Conditioning, Simon Karmarkar provides an overview of the discussions to come. He addresses Melissa’s question on automated tax-loss harvesting and the role of robo-advisors in modern investment strategies. Simon then tackles Hampton’s inquiry about optimizing Roth Individual Retirement Accounts (IRAs) and delves into strategic approaches for these accounts. The episode also highlights the long-term benefits of Roth IRAs and explores the advantages of spousal IRA contributions. Listeners will gain valuable insights into maximizing their retirement savings and understanding the tools available for strategic financial planning.
(0:00) Introduction to the episode and overview of discussions
(0:52) Meli...2024-08-2905 min
Financial ConditioningLeadership Lessons from David Novak: Career Evolution, Company Culture, and Personal GrowthIn this episode of Financial Conditioning, Simon Karmarkar interviews David Novak, delving into his journey from the Crystal Pepsi project to leading Yum! Brands. The conversation covers David's career evolution across twenty-three states and his experiences at PepsiCo. Simon and David discuss the importance of finding joy and balance in both leadership and personal growth. The episode also explores how to cultivate a positive company culture and the significant role of leadership modeling. David's insights provide valuable lessons for listeners aiming to enhance their own leadership and career development.
(0:00) Interview with David Novak: From Crystal Pepsi to Yum! Brands
(0:23) The...2024-08-2603 min
Financial ConditioningMastering Stock-Based Compensation and Navigating Insurance Costs with Brian FeroldiIn this episode of Financial Conditioning, Simon Karmarkar introduces the complex topic of stock-based compensation with insights from Brian Feroldi. The discussion begins with an overview of stock-based compensation, followed by strategies for understanding and negotiating these financial packages. Simon then delves into the tax implications and potential for wealth building through stock-based compensation. A Q&A session addresses concerns about navigating insurance bill increases and coverage considerations, offering practical advice on shopping around for better rates. The episode concludes with a wrap-up and closing remarks, summarizing key points and actionable insights for listeners.
(0:00) Introduction to stock-based compensation with Brian...2024-08-2207 minFinancial ConditioningNavigating Stock Market Panic: Unemployment, Federal Reserve Decisions, and Tech Sector VolatilityIn this episode of Financial Conditioning, Simon Karmarkar tackles the timely issue of stock market panic, rising unemployment rates, and Federal Reserve decisions. The episode kicks off with an introduction to these interconnected topics. Simon then discusses the implications of the rising unemployment rate, explaining the Sahm Rule and its effects on the real estate market. The focus shifts to the tech sector's volatility and its investment implications. An overview of the 'First Friday Monthly Economic Report' provides further context. Simon wraps up with closing remarks on the importance of making informed financial decisions amidst economic uncertainty.
(0:00) Introduction to stock...2024-08-0504 min
Financial ConditioningFinancial Independence Q&A: Portfolio Balance, Aggressive Plans, and Five-Year GoalsIn this episode of Financial Conditioning, Simon Karmarkar navigates a Q&A session with insights from Paula Pant, addressing various financial dilemmas. The episode begins with an introduction and an overview of the session. Simon explores Les's query about portfolio balance and the inclusion of international equities, providing detailed advice. The discussion then shifts to Luke's aggressive plan for financial independence, assessing its feasibility and offering strategic recommendations. The episode concludes with a summary on achieving financial independence within five years, followed by closing remarks that encapsulate the key takeaways for listeners.
(0:00) Welcome and introduction to the episode
(0:20) Q&A...2024-08-0105 min
Financial ConditioningThe Psychology of Money: Identifying Personalities and Understanding Financial BehaviorsIn this episode of Financial Conditioning, Simon Karmarkar delves into the psychology of money. He begins by introducing the topic and discussing the importance of understanding your money personality. Simon categorizes different money personalities, including spender vs. saver, nerd vs. free spirit, and those who prioritize safety vs. status. He explores the concept of money as a magnifying glass, revealing deeper insights into our financial behaviors. The episode also features a sponsor segment for the EveryDollar budget app. Simon wraps up with closing remarks and a call to action, encouraging listeners to reflect on their own financial psychology.
(0:00) Welcome and...2024-07-2908 min
Financial ConditioningDiversification and Index Investing: Asset Allocation, Market Cycles, and Practical AdviceIn this episode of Financial Conditioning, Simon Karmarkar explores the critical topic of diversification and its profound impact on financial health. He begins with an introduction to the importance of diversification in investment strategies. Simon delves into index investing, asset allocation, and understanding market cycles. The discussion continues with insights on how inflation and interest rates affect investments, offering practical advice to navigate these economic factors. The episode provides listeners with actionable strategies to enhance their financial resilience through diversification.
(0:00) Welcome and episode introduction
(1:15) Importance of diversification and impact on financial health
(2:13) Index investing, asset allocation, and market cycles
(3:02) Inflation...2024-07-2503 min
Financial ConditioningManaging Upside-Down Car Loans: Strategies, Pitfalls, and Budgeting TipsIn this episode of Financial Conditioning, Simon Karmarkar tackles the challenge of managing an upside-down car loan. He starts with an introduction to the topic, explaining what it means to have negative equity in a car. Simon then outlines effective strategies for handling such situations, including pitfalls to avoid. The discussion includes practical budgeting tips to accelerate loan payoff. The episode wraps up with a summary of key points, empowering listeners to navigate and overcome upside-down car loans effectively.
(0:00) Welcome and introduction to the topic
(0:34) Understanding and managing an upside-down car loan
(2:32) Strategies for handling negative equity in a car
(3:52...2024-07-2205 min
Financial ConditioningComprehensive Retirement and College Planning: Strategies, Tools, and Balancing ExpectationsIn this episode of Financial Conditioning, Simon Karmarkar dives into financial planning for retirement. He begins with assessing your current situation and setting retirement goals. The discussion covers budgeting, saving, and investment strategies tailored for retirement. Simon addresses managing retirement income, associated risks, and insurance options. He explains the use of retirement calculator tools and explores tax implications of PCs vs. LLCs. The episode also delves into setting up and projecting the future of 529 plans for a child's education, balancing college savings with realistic expectations, and exploring alternative investments for education funding. Key takeaways are summarized to help listeners plan...2024-07-1839 min
Financial ConditioningRetirement Budgeting: Essential Expenses, Income Streams, and Simplified ManagementThis episode of Financial Conditioning focuses on retirement budgeting and income streams, distinguishing between essential and nonessential retirement expenses. Simon Karmarkar discusses retirement account distribution planning, tracking, and testing your retirement budget. He addresses overcoming obsessive financial tracking and emphasizes automating and simplifying financial management. The episode concludes with insights on simplifying real estate investments in retirement.
(0:00) Introduction to Retirement Budgeting and Income Streams
(2:38) Essential vs. Nonessential Retirement Expenses
(3:50) Retirement Account Distribution Planning
(5:03) Tracking and Testing Your Retirement Budget
(6:23) Overcoming Obsessive Financial Tracking
(8:04) Automating and Simplifying Financial Management
(10:47) Simplifying Real Estate Investments in Retirement
2024-07-1510 min
Financial ConditioningEntrepreneurship, Growth, and Achieving Work-Life BalanceSimon Karmarkar introduces the episode and discusses the backgrounds of notable guests. The conversation delves into entrepreneurship, growth, and the importance of networking. Insights on achieving work-life balance and effective business strategies are shared. The episode includes sponsorship messages from Indeed, Monarch Money, Quince, NetSuite, and Policygenius. It concludes with a call to action, encouraging listeners to implement the discussed strategies and stay financially conditioned.
(0:00) Introduction and guest backgrounds
(1:21) Entrepreneurship, growth, and networking
(2:23) Work-life balance and business strategies
(3:20) Sponsor: Indeed, Monarch Money, Quince, NetSuite, Policygenius
(4:54) Episode conclusion and call to action
2024-07-1105 min
Financial ConditioningMastering Liquidity, Diversification, and the Psychology of SpendingSimon Karmarkar covers managing liquidity and reinvestment strategies, the psychology of spending and saving, and challenges in large-scale investing. He delves into diversifying investment portfolios, adjusting household finances, and generating passive income. The episode also discusses the implications of the Supreme Court's Chevron ruling on finances and concludes with diversified retirement planning.
(0:00) Welcome and introduction to the topic
(0:27) Managing Liquidity and Reinvestment Strategies
(3:09) The Psychology of Spending and Saving
(4:32) Challenges in Large-Scale Investing
(6:24) Diversifying Your Investment Portfolio
(10:20) Adjusting Household Finances and Passive Income
(12:47) Implications of the Supreme Court's Chevron Ruling on Finances
(15:44) Diversified Retirement Planning and Conclusion
2024-07-0816 min
Financial ConditioningIs college worth it? Simon's take on real estate and avoiding impulse buyingSimon Karmarkar discusses the changing narrative around college education, evaluates its worth, and explores paying for it without student loans. He examines impulse buying, offers tips to avoid it, emphasizes personal finance ratios, and shares his real estate investment experiences.
(0:00) Introduction to today's episode
(0:44) Changing narrative around college education
(2:13) Is college worth it?
(5:14) Paying for college without student loans
(10:19) Impulse buying and its impact on finances
(14:20) Tips to avoid impulse buying
(20:40) Importance of personal finance ratios
(29:35) Evaluating whether to buy your dream home now or wait
(33:58) Simon's personal experience with real estate investments
(34:59) Closing remarks and staying financially conditioned
2024-07-0135 min
Financial ConditioningEvaluating Real Estate Investments and Retirement Plans with Expert InsightsSimon Karmarkar discusses the pros and cons of using retirement funds for real estate, foreign asset allocations, AI growth, and owning a vacation rental in Denver. He explores financing a third rental with a 457 plan, the best retirement plans of 2023, buying your dream home now vs. later, and the adoption tax credit.
(0:00) Welcome and introduction
(0:42) Should you raid your retirement plan to buy real estate?
(1:52) Foreign asset allocations and AI growth projections
(4:41) Owning a vacation rental in Denver
(7:51) Financing a third rental property using a 457 plan
(10:57) Best retirement plans of 2023
(19:49) Buying your dream home now vs. waiting for a better...2024-06-2746 min
Financial ConditioningChaos theory and personal finance with Dr. KlasSimon Karmarkar discusses the foundations of personal finance, including budgeting, managing debt, and investing. Special guest Dr. Klas explores chaos theory's application to finance. Sponsored by TaxLayer.
(0:00) Introduction
(0:26) Importance of personal finance
(1:00) Definition of personal finance
(2:28) Creating a monthly budget
(3:40) Spending less than you make
(5:08) Getting out and staying out of debt
(6:51) Investing for the future
(11:43) Introduction of guest speaker Dr. Klas
(12:35) Chaos theory and personal finance
(24:40) Sponsor: TaxLayer
(41:38) Conclusion and wrap-up
2024-06-2442 min
Financial ConditioningNavigating venture capital, home decisions, and tax impactsSimon Karmarkar explains why venture capital funds often outperform individual company investments, using Cameo as an example. Listener questions cover topics like selling your home, maximizing retirement plans from two jobs, and using a 3-2-1 buy down mortgage. He also discusses shared custody tax effects, gambling winnings, and advises on not taking sports too seriously.
(0:00) Welcome and introduction
(0:38) Why venture capital funds beat investing in individual companies
(5:23) Example of Cameo and its venture capital journey
(14:20) Listener question: Selling your home or staying put
(18:09) Listener question: Maximizing retirement plans from two jobs
(19:54) Listener question: Using a 3-2-1 buy down...2024-06-2045 min
Financial ConditioningUnderstanding pension plans and their decline, plus what to do if your car is repossessedSimon Karmarkar discusses the decline of pension plans, how they work, and assessing their sufficiency. He explores the limitations and risks of pensions, compares lump sum payments vs. monthly pensions, and provides steps to take if your car is repossessed. The episode also covers taxation on commission income and includes a case study on investing in Cameo.
(0:00) Introduction and overview of the episode
(1:07) The decline of pension plans
(2:50) How pension plans work
(5:33) Assessing if your pension will be enough
(8:04) Limitations and risks of pension plans
(10:16) Lump sum payment vs. monthly pension
(16:23) Steps to take if your car is repossessed
(29:45) Taxation...2024-06-1757 min
Financial ConditioningNavigating pension options and understanding the car repossession processSimon Karmarkar discusses the decline of pension plans, monthly lifetime payment options, and how to calculate benefits. He emphasizes the importance of financial planning, addresses risks, and compares lump sum payments. Also covered are car repossession processes and sponsor mentions.
(0:00) Introduction and overview
(0:30) The decline of pension plans
(2:28) Monthly lifetime payment option
(4:28) Example of calculating pension benefits
(7:45) Importance of financial planning and professional advice
(10:00) Risks associated with pension plans
(10:47) Lump sum payment option
(16:47) Sponsor: Smartvestor Pro program
(17:22) Car repossession process and how to handle it
(29:43) Sponsor: Budgeting with EveryDollar app
(45:26) Episode wrap-up and closing remarks
2024-06-1746 min
Financial ConditioningHow to Build Wealth: Steps, Habits, and Professions of MillionairesSimon Karmarkar defines wealth, differentiates building wealth from becoming rich, and outlines four steps to achieve it. He discusses common millionaire professions, five steps for millennial millionaires, and savings strategies. He also shares findings from a national study and 10 millionaire habits.
(0:00) Introduction and defining wealth
(1:23) Understanding wealth and assets
(4:03) Building wealth versus becoming rich
(8:31) Four proven steps to become wealthy
(12:25) Common professions of millionaires
(16:59) Five steps to become a millionaire millennial
(20:59) Switch your savings gears
(26:49) Findings of the national study of millionaires
(33:38) 10 simple habits of millionaires
(38:50) Sponsor: WealthWise Financial
2024-06-1254 min
Financial ConditioningBalancing expenses, investments, and the value of vacationsSimon Karmarkar discusses managing unexpected expenses, inheritance investments, diversification, and tax implications. He covers balancing savings and investments for families, planning for retirement expenditures, and vacation spending. A case study on a family vacation to Hawaii highlights the value of vacations for mental health.
(0:00) Introduction and welcome
(0:32) Managing large unexpected expenses
(1:09) Caller question about inheritance investments
(3:19) Diversification and tax implications
(4:25) Balancing savings and investments for a growing family
(6:23) Planning for large expenditures in retirement
(9:02) Vacation spending guide
(10:19) Case study: family vacation to Hawaii
(22:55) The value of vacations for mental health and burnout prevention
(25:14) Closing remarks and key takeaways
2024-06-1025 min
Financial ConditioningUnderstanding persuasion with Michael McQueen and tips on semi-passive incomeSimon Karmarkar explores the psychology of persuasion with guest Michael McQueen, addresses loss aversion, and discusses building rapport. Listener questions cover retirement planning, ETFs vs. index mutual funds, a nomadic lifestyle, taxes on lottery winnings, and generating semi-passive income through real estate.
(0:00) Introduction and podcast overview
(0:42) Introduction to the psychology of persuasion
(1:35) Guest introduction: Michael McQueen
(3:03) Addressing loss aversion
(4:14) Building rapport and choosing the right moment
(5:53) Transitioning to listener questions
(6:28) Sarah's question on retirement planning
(9:47) ETF vs. index mutual funds
(12:19) Anonymous caller on nomadic lifestyle
(14:02) Taxes on lottery winnings and payout options
(24:59) Generating semi-passive income through real estate
2024-06-0630 minFinancial ConditioningIntroductionSimon Karmarkar introduces the Financial Conditioning Podcast, explaining its purpose and the concept of financial freedom. He discusses the goals of each episode, the importance of saving and growing wealth, and where to find the podcast.
(0:00) Introduction to Financial Conditioning Podcast
(0:09) Purpose of the Podcast
(0:19) Understanding Financial Freedom
(0:28) Aim of Each Episode
(0:33) Importance of Saving and Wealth Growth
(0:38) Podcast Availability
2024-05-3000 min