Episode 124: What does financial freedom look like to you? (with Adam Carroll) Artwork

Therapy For Your Money

Welcome to Therapy for your Money, a podcast about all things money and finance for private practice owners! If you are ready to feel confident and in-control of your financial life, then you are in the right spot. Therapy for our Money is hosted by Julie Herres, the CEO and Founder of GreenOak Accounting. She and her firm specialize in working with private practice owners across the United States, and have assisted hundreds of private practices with increasing their financial stability and profitability. She is on a mission to share her best practices she's learned along the way through her successful career as an accountant, discusses financial topics with a wide variety of guests, and help her listeners make data driven decisions to help their businesses.

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Therapy For Your Money

Episode 124: What does financial freedom look like to you? (with Adam Carroll)

January 12, 2024 • Season 4 • Episode 124

In this episode, we explore the intricacies of achieving financial freedom in the digital era with our guest, Adam Carroll. We discuss the changing dynamics of financial transactions and innovative strategies that have reshaped our relationship with money, making it seem less tangible and possibly affecting our spending habits. We also introduce the "Shred Method," a groundbreaking approach to debt management that offers a faster path to financial independence.

Highlights:

The Illusion of Money in the Digital Age: In today's society, money feels less "real" due to the prevalence of digital transactions. This change in perception can influence spending habits, as people might not hesitate as much when spending digitally compared to using physical cash.
The Shred Method: This new approach to financial management focuses on optimizing income efficiency, helping individuals avoid letting their money sit idle in checking accounts, and instead, using it in ways that foster financial growth.
The Power of Compound Interest and Investment: Adam shares his experience of paying off a substantial mortgage in just over three years and the subsequent journey of building a significant investment portfolio through the strategic use of asset liquidity.
Asset Liquidity and Future Planning: Emphasizing the importance of creating liquidity in assets and planning for future expenses as vital steps in avoiding debt accumulation and paving the way to financial freedom.

As we conclude, we reflect on the wealth of knowledge shared by Adam Carroll, highlighting the necessity to adapt to the changing financial landscape and utilize innovative methods for efficient debt and investment management. This conversation illuminates the potential of compound interest and the importance of flexibility in financial planning, encouraging listeners to make informed decisions for a prosperous future.

Join us in the next episode for more insights into shaping a financially secure future.

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Podcast Production and Show Notes by Course Creation Studio