Common Sense Millionaire

Hosted by George Dines

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Jan 2024

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About the show

We can look like we have money or we can actually have money. George wants you to have money, actually, he wants you to become a millionaire. The common-sense way. This podcast was created for the person who feels like they are in the midst of a financial whirlwind and can’t seem to design a path that works for them and get them the win that they want. They don’t see a path to millionaire status but they want to get there, it’s king overdue. George’s practical approach is no the get-rich-quick path, but rather the strategic approach to real life, daily habits, and a real plan that creates the win. He will give you the step-by-step play and be your family and business CFO. As the ultimate Chief Financial Officer, his simple tactics help you start leveraging your spending and taxes so that you can slide into that true wealth status.

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24 recent

January 17, 202412 min

EP 24: How To Beat The Madness of Car Buying and Save Your Cash

In this episode you’ll go through the car purchase experience and see the madness of dealerships, their ridiculous pricing, and the hidden add-on fees you might run into. Discover the auto auction specialist and save yourself time, stress, and a ton of money.The car buying process has evolved over time and become a huge challenge. We'll go over what failing to meet a car payment means for you and talk about some of the questionable practices employed in the car market today, such as dealer markups on electric vehicles and mysterious add-on charges.Whether you plan to buy a car or are just curious about the process, you should be prepared… so tune in!Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

January 10, 20249 min

EP 23: Why It’s Time to Bank With Black Banks

Are you ready to evolve as you approach your money goals?In this episode I’m talking about banking with black banks. It’s critical for black people to control their wealth and invest in institutions that prioritize their prosperity. Too many barriers and not enough opportunities exist with traditional banking systems.This discussion fights the rumors that might discourage you from banking with black institutions. I won’t just be talking, but also giving you action steps to start fighting back and make sure your financial future is secured. Now is the time to break free from major banks that exploit customers and consider black banks that offer competitive services without ripping you off. Yes, we're talking about those extreme fees and all those negative experiences that come with them! Your money matters, and where you put it matters even more. Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

January 3, 202411 min

EP 22: Money Skills: First Understanding, Then Applying

Remember the first time you wanted something so badly, but had to settle for less because of the money?In this episode I dive deep into my experiences, the lessons I learned growing up, and how they shaped my understanding of money today. There are layers to credit history and an art to mortgage applications. By the end of this episode, you’ll have learned the key strategies to cultivating a healthy credit profile, understand the mortgage application process, and know how to get through money struggles and still win.We'll also discuss the hidden costs of our everyday habits like the apps we download and the impact they have on our money health. Managing money is a life skill we all need to master!Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

December 27, 202310 min

EP 21: Handling Cryptocurrency Like a Pro

In this episode of Common Sense Millionaire, I’m going to equip you to handle your cryptocurrency like a pro. We're going to tackle the IRS's classification of crypto as property, and it’s potential for recognition as an investment security by other organizations. Your digital gold is not as anonymous as you might think - and whether you're investing through an investment company or independently, it's crucial to keep your wallet address protected and carefully keep records. I’ll also share an unforgettable story that highlights the cost of misplacing your wallet address… One man's loss of his hard drive resulted in him forfeiting billions in cryptocurrency. Don't learn this lesson the hard way.Tune in to the discussion today!Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

December 17, 202328 min

EP 20: A Common-Sense Guide to Reaching Your Financial Goals Through Small Business, Robo Investing and More

In this episode, I'm having a conversation with Tiffany Largie, CEO and founder of DO THE DAMN THING, exploring alternatives to conventional investment methods like stocks and bonds. Tiffany and I navigate how small businesses can be a powerful asset for wealth creation, especially if it's something you're actually passionate about. We also explain the concept of robo investing and share some of the best online platforms for managing investments. More than that, we're going to talk about black-owned banks in the money arena and the potential cons of banking with big institutions.So, let’s dissect the changing economy, spread some truth around recession, and discuss investor impacts on the US housing market. I'm sure you've noticed the rising costs of airline tickets and skyrocketing car prices, but don't worry, I have a tried and true 4/10 rule for buying cars. Let’s go!Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

December 13, 202316 min

EP 19: IRS Audits: Who’s Really Targeted and How to Protect Yourself

Ready to bust some myths about who gets audited the most? Spoiler alert: it's not your wealthy neighbor! In this episode of Common Sense Millionaire, I reveal the harsh truth about IRS practices and how they disproportionately impact African-Americans, particularly those with lower-income brackets who are business owners. This episode dives deep into the world of audits, giving away the mystery around increasing electronic resources at the IRS's disposal and how even the rich are not out of the auditor's scope! I'm also going to shed light on the financial challenges black Americans face when dealing with taxes. If you've ever thought about fudging the numbers or incorrectly declaring dependents - don't! The IRS has some hefty penalties for those who stray from the straight and narrow. I'm here to help you understand how to accurately document your income and file the correct forms to avoid these fines. Plus, I'll guide you on how to properly record your deductions, especially when legal custody is shared with an ex-spouse. Whatever your situation is, I've got you covered with practical advice to stay in compliance with the IRS. You don't want to miss this!Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

December 6, 202310 min

EP 18: How To Understand & Handling the Fiscal Impact of Life's Biggest Changes (Marriage, Divorce, Children)

What if tying the knot could knot up your finances, too? This episode of Common Sense Millionaire peels back the layers on how life-altering events such as marriage and divorce, could impact your finances. We’re taking a deep dive into the potential tax implications of that walk down the aisle - think merging credit files, determining to file taxes jointly or individually, and even the tax burdens you might unknowingly be stepping into with your partner. And don't worry, I've got our same-sex couples covered too. I'll also spotlight an essential safety net: innocent spouse relief. It's a lifeline for those blindsided by their partner’s financial fiascos.Switching lanes, we're going to dissect the financial fallout from divorce. Enlisting a tax specialist or attorney when navigating separation is crucial, especially when it involves determining child allocation for tax purposes. It's a complex path, but I'm going to be here to guide you through it without adding to your financial strain. I trust you'll walk away with valuable insights to help you brave life's financial storms. And remember, I'm always here to tap into questions or concerns, so don't hesitate to get in touch.Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

November 29, 202313 min

EP 17: The Hidden Maze of Small Business Taxation: Insight and Advice

Ready to unmask the unnerving world of small business taxation? This episode of the Common Sense Millionaire is a treasure trove of insights, revealing potential pitfalls and how I learned to sidestep them. Let's pull back the curtain on everything from the consequences of unreported cash transactions to the importance of a reliable tax preparer in navigating the labyrinth of deductions and expenses. Hear how not reporting your income can dramatically shrink your Social Security payout in retirement and how the IRS leverages technology to track improper deductions.In the second half, I'm presenting a blueprint for handling your tax returns with confidence and integrity. High-income earners, gear up for some invaluable advice on engaging a tax professional to minimize your tax burden. There's a few red flags that trigger IRS curiosity, such as dubious home office deductions and ostentatious business expenses, and we'll discuss those too. Plus, we're delving into the murky depths of overseas bank accounts and the dangers of evading self-employment income. We are about to journey through the labyrinth of taxation, filled with must-know tips and advice!Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

November 22, 202315 min

EP 16: Choosing the Right Tax Preparer: The Difference Between a Bad Return and a $7000 Refund

What if choosing the right tax preparer could be the difference between an improper return and a hefty $7,000 refund? This is exactly what happened to one of our listeners, and we're here to share this eye-opening tale while delivering the know-how to ensure you're making the best choices in your tax preparation. I'm going to guide you through critical questions you should be asking your preparer, such as their PTIN number and state-issued document, and if they're equipped to handle your specific tax needs. I'll also delve into the roles of CPAs and attorneys in tax returns, and spotlight the importance of building a strong relationship with your tax preparer for the best financial outcomes. Taking a magnifying glass to your tax affairs is crucial and I want to make it easy. The Common Sense Millionaire is here to arm you with the knowledge, tools, and support to steer you towards achieving your financial goals. Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/

November 15, 202314 min

EP 15: How Did I Get To 1 Million+ In Retirement Savings And Move From Financial Uncertainty to Financial Stability.

Ever felt like you're running on a financial treadmill, hustling hard but not moving forward? I've been there, and that's why I've dedicated my life to promoting financial education. From spiraling in debt with a credit score of zero to boasting a score of 800 plus, I've turned my financial life around, and I'm eager to share what I've learned. In today's episode of Common Sense Millionaire, we explore the journey toward financial stability and how it's possible to create a secure future and legacy for our families.It's easy to feel like the system is rigged, especially when it comes to car dealerships, insurance, and credit. I've been on the receiving end of these pitfalls, and it's my mission to prevent others from falling into the same traps. Today, we're talking about the importance of planning for the future and making tough decisions that will propel you toward financial success. This is an invitation to step out of the cycle of financial uncertainty, and take control of your financial destiny. Let's walk this journey together.Thank you for listening to The Millionaire Mindset Podcast with George Dines. To connect with George visit www.georgedines.comTo Schedule a call with George visit: https://georgedines.com/contact/