{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Stealth Wealth Discussions with Sam Dogen","description":"In today\u2019s episode, Mark Podolsky, the Land Geek, talks to Sam\nDogen who has been writing on personal finance for 7 years. He has\nan MBA for UC Berkeley, rated a 5.0 as a tennis player, a 16\nhandicapper in gold, and speaks three languages pretty well. He has\nlived in different countries and visited roughly 40 countries as of\nMarch 2015. He has been seen in The Wall Street Journal, The L.A.\nTimes, Chicago Tribune, Forbes, Bloomberg, Kiplinger, and now, is a\nguest on the Best Passive Income Model Podcast.\nSam worked in equities from 1999 to 2012, servicing\ninstitutional fund managers that they invest in. These were mostly\nmutual funds and some hedge funds. He also helped take private\ncompanies and placed institutional investors in public companies\nwhen they go IPO. The kind of stress Sam had to deal with working\nfor the industry was getting to work at 5 AM in New York and 6 AM\nin San Francisco just to keep his finger on the pulse in relation\nto what was going on in the markets. There was never a dull moment.\nWorking in the industry was fun for the first 9 years until 2008 to\n2009 when it was no longer doing so well because of the housing\nmarket collapse. There was also a lack of correlation between\nperformance and he had to subsidize the less well-performing peers.\nThen, the dot.com bubble burst in 2000. He particularly didn\u2019t\nenjoy being considered Public Enemy No. 1 by people who didn\u2019t pay\ntheir mortgages as was his experience working in the industry at\nthat time.\nHe started financialsamurai.com in 2009 to help allay fears and\nworries of people who experienced the crunch. Eventually, he also\nwrote a book called, \u201cHow to Engineer Your Layoff: Negotiate Your\nSeverance and Be Free.\u201d The book advises people never to quit but\nget laid off. Getting laid off gets you a severance package and the\nmandatory Warn Act Pay, a requirement by states and by larger\ncompanies to provide one or three months worth of pay that allow\npeople to transition during a mass lay off. It is different from a\nseverance pay. Benefits to be derived from getting laid off is\nbeing able to get a better recommendation from your peers,\nunemployment benefits which is currently at 26 weeks maximum per\nstate, COBRA, and other things that will help you transition\ninto the next phase of your life.\nGetting laid off if you are a star performer is a little\ndifferent. You will need to build building blocks to get the\nseverance negotiation by having a good relationship with your\ndirect boss and the HR Manager at your office. Start the\nconversation, research online, and perhaps you can volunteer\nyourself to save someone else. This saves your manager from having\nto deal with laying other people off. Dealing with a bad manager is\ndifficult as well.\nSam\u2019s book, \u201cHow to Engineer Your Layoff: Negotiate Your\nSeverance and Be Free\u201d empowers the employee. We have way more\npower than we realize. However, he mentions that putting stuff out\non the internet will not make you a desirable candidate to other\ncompanies who may want to hire you and it doesn\u2019t help the company\neither. If you have someone who has been trained to replace you,\nyou can have a seamless transition. It\u2019s about communicating with\nthe people around you. Sam speaks from experience. He was able to\nget a severance package that has allowed him to take care of his\nliving expenses until 2017. Hearing from people who write Sam to\ntell him their lives are so much better now has been the best\nexperience for him.\nWhen asked about his definition of happiness, Sam equates this\nwith progress. His philosophy is that when your relationships at\nhome are progressing, you are happy. The difference between the\nrich and the poor, according to Sam, is not that great.\nAnother concept Sam has come up with is Stealth Wealth. It is a\nway you think about money and think about how you want to be\nperceived by society in general. Having lived in different\ncountries where there\u2019s so much poverty has helped give Sam a\ndifferent perspective. While others brag about their material\npossessions, there are people who are suffering. Being stealthy\nabout what you own is better because you need to focus on purpose\nrather than your material worth.\nAs a writer, Sam killed time and searched for stories by joining\n\u00dcber and becoming a driver. He met many random people and noticed\nthe dichotomy between the wealthy and the others in San Francisco.\nHearing their stories and reading their emails and comments on his\nLinkedIn account makes him happy.\nSam and Mark both agree that in this day and age, everybody\nshould try to leverage the internet in some way and try to make a\nlifestyle they want. His comment on Mark\u2019s Best Passive Income\nModel is that he has a great passive income model and the key is if\nit\u2019s working for him, he should continue doing it. There\u2019s a\nplethora of ways to make money online but he says that Mark\u2019s\nbusiness model sounds good to him.\nTIP OF THE WEEK:\nSam: Save an amount that hurts you a little\nbit. If it doesn\u2019t hurt, you\u2019re not saving enough. Everything\nstarts with a fundamental aggressive savings model for you to be\nfree and build those passive income streams.\nTo better guide parents on how to raise financially savvy\nchildren, I advise against having them read my articles on\n\u201cHow\nTo Convince Your Parents To Buy You Everything You Want,\u201d and\n\u201cNo\nWonder Why Millennials Don\u2019t Give A Damn About Money.\u201d Children\nshould read \u201cSpoiled\nor Clueless? Try to Work Minimum Wage Jobs.\u201d\nMark: Go to financialsamurai.com and read\nthe most commented posts on the sidebar, \u201cHow\nMuch Money Do The Top Income Earners Make?\u201d \u201cCreating\nPowerful Friends,\u201d \u201cHow\nMuch Should People Have Saved in their 401ks at Different\nAges?\u201d and \n\u201cThe 1\/10th Rule For Car Buying Everyone Must Follow.\u201d\nAlso read , \n\u201cScraping By On $500,000 a Year: Why It\u2019s So Hard For High Income\nEarners To Escape The Rat Race.\u201d\nThank you for listening to the Best Passive Income Model podcast. Your support\nhelps me to invite guests who share their knowledge that you can\nuse to grow your business.\n","author_name":"The Best Passive Income Model Podcast","author_url":"http:\/\/www.thelandgeek.com\/category\/thelandgeekpodcast\/","html":"