The Wealth Manager Who Became A Comedian, The 4 Scarcity Mindsets, The Insurance You Must Have & More: Disrupting Sacred Cows With Garrett Gunderson.

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28 April 2022

Allow me to introduce you to my friend Garrett Gunderson, the Founder of an Inc. 500 firm, author of the NY Times best-seller, Killing Sacred Cows, and multiple other Wall Street Journal bestselling books.

Garrett Gunderson is called a “financial genius” in entrepreneurial circles, but he wasn't born with a silver spoon. In fact, Garrett's blue-collar roots are what make him so passionate about helping people live a life they love, on their own terms.

He was raised in rural Utah and comes from a fourth-generation coal-mining family. His great-grandfather left Sangiovese, Italy to escape government corruption and excessive taxation and to build a better life for his family. Even though Garrett's great-grandfather understood the value of hard work, he never got to enjoy it, which led Garrett to construct his businesses, The Wealth Factory and now Win, Then Play, to help owners of companies build economic independence, instead of taking three generations to break the cycle of scarcity.

But there's more to Garrett than just finances. After spending 20 years in the industry, his approach has shifted to combining what he knows best (money) with what he loves most (comedy). His new comedy special, The American (D)ream, breaks down all of the myths about money through a powerfully original stand-up show covering everything from Wall Street to the insurance companies to retirement to cryptocurrency. (In fact, I'll be Garrett's opening act in his upcoming show in Austin, TX on May 10. You can sign up for tickets here!)

If you’re ready to transform your life, finances, and future, today’s guest will help you do just that. It’s time we all laugh at money’s expense for a change!

During our discussion, you'll discover:

-Garrett Gunderson's resources:

-Is Garrett a comedian or wealth manager these days?…09:32

-Sacred cows in our society that beg to be disrupted…15:32

  • Sacred cow: an unquestioned financial belief that is handed down through generations
  • Compound interest is not the 8th wonder of the world (Einstein actually said compound numbers, not money)
  • Money and math are not the same things

-Tipping the sacred cow of money…19:52

  • Above a certain level of income, there is no meaningful correlation between the amount of money one has and their level of happiness
  • Happiness comes from knowing our purpose
  • People are chasing something and expecting money to do something it's not capable of doing
  • The torture chamber of “more”
  • Self-worth and net-worth are not the same things
  • Podcast with Robert Breedlove:
  • Uncertainty and instability create a sense of scarcity and scarcity is the greatest destroyer of wealth
  • Scarcity breeds fear, which brings on stress that manifests itself in hidden and not hidden ways
  • Encourage good debt, discourage bad debt
  • Dave Ramsey

-The four personas that show the disparity between the scarcity vs. abundance mentality…27:17

  • Four money personas:
    • Play to not lose
      1. Miser (preservation)
      2. Conservative (accumulation)
    • Play to win
      1. Striver (status)
      2. High roller (opportunity)
  • Experiences give more happiness than things

-The hard lessons that brought Garrett to his knees financially…40:10

  • Living the high roller life, his world came crashing during the economic downturn of 2007
  • Discovered Investor DNA
  • Starting over in 2009 with the two most precious forms of capital: relationship and mental
  • Mini retirements
  • Providing for vs. being present with the family
  • Live wealthy; “You can never get back the memories you never had”

-The value of “protective” expenses…51:02

  • Protective expenses:
    • Education
    • Asset protection
    • Risk management and mitigation
    • Insurance
  • Protection prevents scarcity from creeping in
  • Leverage insurance policy to become your own lender

-How to leverage your life insurance policy to become your own bank…54:02

-What Garret means when he says, “Win, then play”…1:05:12

  • Understanding when the “win” is in the works, you have already won
  • Design a life you wouldn't want to retire from
  • Killing Sacred Cows by Garrett Gunderson
  • Disrupting Sacred Cows by Garrett Gunderson
  • Life After Debt, upcoming book

-An exclusive sneak peek into Garrett's newest comedy book…1:09:01

  • Debt and death are the new inheritance

And much more!…

Upcoming Events:

Click here for the full written transcript of this podcast episode.

Resources from this episode:

Garrett Gunderson:

– Podcast:

– Other Resources:

Episode sponsors:

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Endure: My new book, Endure, is now available for pre-order! I’ll gift you the first three chapters of Endure as an instantly downloadable e-book and I'll give you a sweet discount on the exact journal my family and I developed and use each day, The Spiritual Disciplines Journal. (32:27)

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Do you have questions, thoughts, or feedback for Garrett or me? Leave your comments below and one of us will reply!

Ask Ben a Podcast Question

4 thoughts on “The Wealth Manager Who Became A Comedian, The 4 Scarcity Mindsets, The Insurance You Must Have & More: Disrupting Sacred Cows With Garrett Gunderson.

  1. islahuddin niyazi says:

    Hi Ben, can you tell me about lipoma fat tissue I have it everywhere my body feels like they keep growing more and more any suggestion.

  2. Great show. I’ve listened to Gunderson before, but your added take on it, especially from your spiritual background, made this so much more awesome.

  3. Anthony Guastella says:

    Hey Ben, have you heard of Aspiration bank? They are a conscious bank that invests their money back in the environment, as opposed to the nefarious investments regular banks make. It’s kind of like shopping at thrive market instead of Meijer. I heard about it from Pedram Shojai. Aspiration.com

    1. Ben Greenfield says:

      will look into it, thanks Anthony!

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