Generating Income with Frankie Lagrotteria, Ep #73

What's up! It's episode 73 of Payne Points of Wealth and the sky is literally falling, as we're recording this Russia is invading Ukraine. We've got financial conditions tightening as global banks around the world are raising interest rates. Is this the end? Are we going to a big, BIG bear market? Are we going into recession? Or is this the buying opportunity of a lifetime? We're going to give you our 2¢ on that. We're also going to tell you exactly what to do with your money. 

On the tipping point today, we have a special guest, Frankie Lagrotteria, and we'll talk about almighty income. You need income for your financial independence plan but how do you create that income? How do you create an income plan where you don't run out of money? We're going to give you our playbook. Check it out!

 

You will want to hear this episode if you are interested in...

• Will the Russian invasion of Ukraine affect the market? [1:08]
• The gift that keeps on giving [4:36]
• Living through the manias [8:15]
• The Tipping Point [10:52]
• The biggest challenge with creating income [12:58]
• Sweat equity vs passive income [14:23]
• Hidden Facts of Finance [20:25]

Bear market or a correction

The best thing in the world is that we live in the great old US-of-A! Look at the people in Ukraine being subjected to this aggression from Russia. As investors we have to look at what's going to happen to the markets as a result of this. History tells us that regional conflicts, unless they end up turning us into a world war, do not bring us to a bear market. 

This is a correction, not a bear market. We didn't go to a bear market after Afghanistan, or Iraq, or Korea, or Vietnam. Only after World War II started. It is a regional conflict. If you look at the GDP of all of Russia, it's about the size of Texas and Ukraine is even smaller than that. At the end of the day, if you look at these geopolitical issues that we've had in the past, usually things work themselves out and eventually investors start looking at what's going on in the economy. And right now the economy is good!

This week on the tipping point: Income

One thing we've found at our firm Payne Capital Management, with the thousand or so relationships we have, is that one of the most critical components to your financial independence plan is income. You hear a lot of talk about income. How do you generate income? What's a good income? What's a bad income? How do you equate for inflation? 

The cornerstone of any financial independence plan is that you're generating enough income that you can live on it. So in today's episode with special guest Frankie Lagrotteria we will do a deep dive today into understanding what kind of income you can produce on your portfolio to give yourself that freedom that we're all thinking about when we're investing our money. Check out the episode for all the tips!

This week’s hidden facts of finance

• Fights to space booking now! Check it out here!
• New movies, Jack Ass & Scream, killing it at the box office! 
• Pink Floyd’s album Dark Side of the Moon has been on Billboard's Top 200 Album chart for 962 weeks! More than any other album ever!
• Did you know Google was not the original name for Google?

Resources & People Mentioned

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