George Grombacher is the Founder of Money Alignment Academy and the host of the LifeBlood Podcast with over 1500 podcast episodes.

Being a three-time top 100 financial adviser listed by Investopedia, George sets up 401k for companies while his financial wellness company helps people get better at managing their finances. Key topics from this conversation include:

• [00:03] A background of today's guest, George Grombacher.
• [06:05] About George's advisory practice: 401k and financial wellness.
• [08:03] Money Alignment Academy; the Self-determination theory.
• [21:10] How entrepreneurs can relate business finances with their personal finances.
• [26:46] Growth investment; using profits vs borrowing.
• [31:37] The role of guidance of a business coach in business management.
• [37:17] Choosing an entity type.
• [38:58] General Financial guidelines for entrepreneurs.
• [41:09] Recommendations for retirement savings.
• [46:27] Lessons from George's experience.

Quotes

• "I recognized a long time ago that there's so much power in Community"
• "85% of people will never interact with a financial adviser"
• "It doesn't matter if it's 7 days a week or one piece of new content a month, you just need to be consistent with it, and manage expectations"
• "Gold medal of personal finance is to pay yourself first"
• "The number 2 rule is to stay out of debt"
• "Don't fool yourself, be as objective as you can about your actual situation"
• "You should have 3-6 months' worth of expenses saved up"
• "You're never going to get financial prosperity until you first reach financial security"
• "The bronze rule from my perspective is to diversify"
• "As soon as you can figure out what work that you really want to be doing, then start doing that"

Resources

• The LifeBlood Podcast
• “The Artist's Way” book by Julia Cameron
• “The War of Art” book by Steven Pressfield
• “Turning Pro” book by Steven Pressfield

Connect with George Grombacher

• Money Alignment Academy Website
• Email
• LinkedIn

Connect with the Host

• Scott Cantrell on LinkedIn