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How to Prepare for a Successful Retirement
Scott Carter is an author, entrepreneur, coach, keynote speaker, and a former professional baseball player. His humble beginnings, entrepreneurial drive, and strong work ethic propelled him forward in life. In this episode of the Eternal Leadership Podcast, he shared practical finance and life lessons that we can all take immediate action on.
When raising kids, parents have a tough time moving away from being the “bank”. They give their children a place to live, way past when they should be out on their own. Kids need to experience the enjoyment of earning on their own. They need enough space to grow their own wings. This is how parents can help prevent “spoilage” and self-entitlement.
Parents just need to teach kids how to make good judgments with good character, then they need to get out of their way. Allow them to stumble a bit. If we prevent them from experiencing the life lessons the hard way, we rob them of the opportunity to grow and develop their full potential.
Scott’s advice for people preparing for retirement: Pay yourself first. This means that when your paycheck comes in, you should put a certain amount of money into a tax-advantaged account or financial instrument first, before you spend on anything else.
Bonus tip from Scott: Get it out of where you could see it. Use an app or any automated system to regularly draw money from your account into a separate savings account where you can’t see it. After some time, you’d be surprised at how the account has grown simply because you didn’t touch it.
When it comes to retirement and saving, compounding money is the only way to get there. [/su_quote]The biggest source of stress in our society is the gap between our desire for more and handling what we have today. - Sandra Crawford Williamson
What You'll Learn
- How Scott's younger years of bailing hay and playing baseball molded his character
- Why he had to learn how to "speak correctly" to become a business executive
- How to raise kids so they would NOT be entitled and spoiled
- How Michael (John's son) lost his scholarship and regained it without John's help... and the lesson for parents on how to let kids solve their own problems
- A technique to resist the urge to become a Mama or Papa Bear for every battle kids are facing
- How to prepare for a successful retirement
- How to find your "financial freedom number"
- Useful apps to help you automatically put money from one bank account to a savings account
Resources
- You Got This! by Scott and Jill Carter
- You Got This Now website
- Scott Carter's website
Bio
Scott Carter is a successful executive and leading voice in the business world. With 30 years experience in scaling start-ups into industry leaders and growing Fortune 500 businesses, Scott knows how to make money, build on it and protect it.
Instead of a silver spoon, he was born with an entrepreneurial one and always found a way to generate income. Scott grew up in a poor family in a small town in rural Ohio, where baling hay and playing baseball were required activities. He quickly learned the value of having to work hard to achieve your dreams. From selling Fuller brushes and replacing WWII windows in Kentucky to singing and playing piano in restaurants (even though he couldn’t read music) and bookkeeping at a local business while playing professional baseball for the New York Yankees, Scott was always motivated to make money and be a successful entrepreneur.
Currently, he is the founder and Chairman of DG Capital, Inc., a financial holding company that specializes in helping investors diversify and balance their portfolio. Through DG Capital Inc. subsidiaries, investors leverage digital assets, like cryptocurrencies, and other commodities such as precious metals to achieve their financial goals. He also recently launched a utility cryptocurrency token called Trident.
Scott recently authored the e-book, The Business of Bitcoin and Blockchain, and had his book, You Got This! Your Million Dollar Path to Financial Freedom, released by a New York publisher. He is a trusted and widely-known commentator on national news and financial media outlets and is a sought-after keynote speaker at large investment conferences in the US. He has taught thousands of people how to protect their hard-earned savings and retirement in these volatile economic times.
Scott has hosted financial TV and radio shows including Money FAQS and The American Advisorand has published many articles that help investors understand how to further solidify and secure their financial portfolios.
Committed to impacting people’s lives, Scott coaches young men and women on how to navigate careers and life. He is a strong advocate for supporting and helping Veterans and for furthering our democratic ideals. He currently serves on the board of The National Foundation of Women Legislators and has served as a board member of The Woodrow Wilson Center. He is also a strong proponent of higher education, having recently served on the board of a major university.
Married for 30 years and father to three adult kids, he enjoys spending time on the golf course or ski slopes with his family and friends.
