#132: Brian Balbirnie, Founder/CEO of Issuer Direct
Play • 41 min
Summary

In this episode, I sit down with Brian Balbirnie who is the Founder & CEO of one of my favorite microcap companies, Issuer Direct.

For those interested, a few years ago, I sat down with Travis Wiedower where we discussed the company. 

This episode is also available on YouTube.

About Eric Schleien

Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.

Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologies with shareholder activism techniques to create an entirely new model for shareholder activism that was more reliable and created greater sustainable results in a rapid period of time. On average, Tribal Leadership produces a 3-5x increase in profits of culturally troubled companies within an average of 24 months or less.

Eric currently resides in Philadelphia, PA.

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CONTACT ERIC SCHLEIEN

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Email: IntelligentInvesting@gmail.com

ChooseFI
ChooseFI
The Unstuck Network
298 | Habits For Wealth Building | Rich and Regular
* We are checking back in with our Households of FI family, Martin and Ayesha, who have been paired with mentors, Julien and Kiersten of Rich and Regular. * Kiersten and Julien live in Atlanta and started working toward FIRE before they married five to six years ago and have paid off $200,o00 in debt, including their mortgage. They now share their journey on their blog rich & REGULAR. * Ayesha and Martin live in Chicago and found ChooseFI in January 2020 and jumped in with both feet. Martin is a natural saver and had been a positive financial influence on Ayesha before finding FI so they had done a decent job managing their money. * Martin was researching dividend investing after it was recommended by Ayesha's uncle who retired at 55. Ayesha felt like her aunt and uncle had the most fabulous retirement life she'd ever seen. Thanks to his example over the last 25 years, their goal is to get to where he is. * Julien had a similar retirement role model in his life. A close family friend was a Registered Nurse who retried early and showed him that there is a lot of life left after 40. * Since finding FI, and partly thanks to Covid, Martin and Ayesha's savings rate has increased. It has made them aware of all the frivolous, non-essential ways they spent money before. * Ayesha hates budgets and doesn't want to track every penny of her spending. She was out of work for four months during Covid and they found that they didn't miss her income and it showed them that they could save a good amount of money without feeling constrained or deprived. * Having a quantifiable goal and a clear target has helped provide clarity in what they are trying to accomplish. * Martin enjoys trying to optimize their spending and counting the dollars they save. When they decided to get a new television, he used Offer Up to do his research and purchased a flat-screen plasma HDTV for $40. * Julien used to track every single expense and look for new savings opportunities each quarter. But now, optimizing their spending has become such a deeply ingrained habit that he no longer feels the need to look at their budget. He says it becomes like muscle memory once you sort out your own system. * Ayesha feels like when you can simplify your life and have good habits, your life can smoothly and asked what Julien and Kiersten's top habits are. * Kiersten says doing laundry regularly keeps them from having a ton of extra clothes. She and their son have a capsule wardrobe with 20-30 pieces of matching items. She also keeps the kitchen sink clear of dishes to cut down on kitchen accessories. * Julien says they have just the right amount of things they need and notes that there is stress associated with the quantity and clutter in our lives. * Having too many things adds to decision anxiety and analysis paralysis. Instead, whether it is life or a financial strategy, find a handful of things you can nail every single time and ignore everything else. * Julien also says that he has never made an investment in himself that hasn't paid off handsomely, no matter if it is exercise equipment, a book, or a course. Don't allow frugality to prevent you from paying to learn new learning opportunities. New skills can improve your ability to earn more income or make you more marketable. * Kiersten likes to save receipts. if the item she purchased sits for several days, she didn't need it and will return it. She also purges the house of items regularly. * As far as community goes, Ayesha and Martin are doing okay. In addition to family, they have a group of friends who meet to share ideas on investing and becoming financially free. However, they aren't as familiar with the concept of FI so Ayesha feels like they don't have a like-minded community * Julien notes that, especially for black people, the pursuit of financial independence can be a very lonely experience. Telling people about FI doesn't work. You have to show them, like when you get to the point where you can take a two-week vacation or a month off from work. * Kiersten and Julien suggest focusing on influencing the next generation. They use their freedom to step up and help out and pick up the slack with their friends' children. * When it comes to building community, stay open-minded. It takes time to find your best friends and others whose values closely align with yours, but you don't need to divorce yourself from your social circle. * Like their budget, Julien doesn't check his investment portfolio very often because they won't be touching that money for 10-20 years. His attention is better spent on building the business and maintaining a healthy lifestyle. They make decisions on where to invest income every quarter. * You can see the crash coming on other people's lives despite the advice you may have given. Still, Julien says to leave the gate open and don't be judgemental. You may not have been the right messenger for that message. * Before starting rich and REGULAR, Julien was working for a company he loved but was underpaid. When his company paid an influencer $10,000 for posting a photo on Instagram, it motivated him to start earning income in other ways. * Since they already had rental real estate, he was confident he could earn more outside of work. He was eventual led into the world of digital entrepreneurship. * When Kiersten was finally comfortable enough to leave her job, they were not yet at FI, but a year's worth of runway that enabled her to quit and devote that time to building the blog. * The FI community often talks about what number is needed to hit FI, but that number is arbitrary. A single dip in the stock market can impact the number. Julien and Kiersten ask if you were counting on drawing down that money, what would you do for money now? * Most people only earn income one way, through earned income. They don't know enjoy the quality of that income over any other. * Kiersten and Julien attend FI meetups in Atlanta and other places and encourage Martin and Ayesha to do the same when they are able. * Julien had challenges at the beginning of his journey. He grew up poor and was judgemental about his beliefs on spending. He found virtue in saving and said hurtful things to Kiersten because he felt she was spoiled. He's since learned leading with shame creates barriers. * Whether a natural saver or a natural spender, everybody is spending. Spending today can be rewarding and motivating. * Kiersten was also judgemental in a different way. She thought she knew how her life was going to be and was closed-minded. She struggled with seeing a different version of herself. She had to be open and let go of her ideas of what certain aspects of her life would look like. * If they came into a windfall of money and weren't allowed to invest in themselves or their business, they would invest the money in low-cost index funds and then let it grow and forget about it. * Discipline equals freedom. When you set up a framework for life by setting up non-negotiable things, it allows you the freedom to spend time doing the things you'd rather be doing. * Brad agreed with Julien's sentiment about investing in yourself and that the spirit of frugality can get in the way of that. Watch out for it. * The local groups are the heartbeat of the FI community. They aren't made up of podcasters and bloggers. They are regular people who are getting together and trying to live better lives. * Website:  rich and REGULAR * YouTube: Money on the Table Resources Mentioned In Today's Conversation * ChooseFI Episode 224 Introducing our Households of FI Part 2 * ChooseFI Episode 251 Brad Connects with Martin and Ayesha * Find your local group at ChooseFI.com/local. If You Want To Support ChooseFI: * Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy.  * Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence.
1 hr 29 min
Financial Decoder
Financial Decoder
Charles Schwab
Are You Rationalizing an Investing Mistake?
If you save money and invest it consistently, your path toward meeting your goals may seem simple. But most investors quickly discover that there are hurdles in the way—including our own brains. There are many cognitive and emotional biases that can trap us, and investors sometimes rationalize falling prey to these biases in familiar ways. In this episode, Mark is joined by Brad Bartick, branch manager of the downtown Denver Schwab branch, and financial consultant Joanna Heckman to discuss four different biases that investors have faced recently and what they sound like in action. Subscribe to _Financial Decoder_ for free on Apple Podcasts or wherever you listen. _Financial Decoder_ is an original podcast from Charles Schwab. If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts. Important Disclosures: Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk including loss of principal. Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance. This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB.Important Disclosures: The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk including loss of principal. Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance. Diversification strategies do not ensure a profit and do not protect against losses in declining markets. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0221-1EPK)
29 min
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