166 - Financial Freedom for Online Coaches (replay Freedom Formula guest podcast)

166 - Financial Freedom for Online Coaches (replay Freedom Formula guest podcast)

Author: Justin Green, CFP® February 20, 2025 Duration: 44:51

Book a 90 Minute Financial Health Consult to get an actionable plan to better manage your finances.

In this episode of the Dollars and Dumbbells podcast, host Justin Green, a Certified Financial Planner™, is a guest on the Freedom Formula show hosted by business coach Stephen Kopshaw.

We dive into how coaches could better manage their money, prepare for tax bills, and build long-term wealth. Key topics include avoiding unnecessary expenses for tax write-offs, and leveraging self-employment retirement accounts.

Connect with Justin Green on Instagram

Connect with Stephen Kopshaw on Instagram

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00:00 Introduction to the Podcast

00:33 Reconnecting with Stephen Kopshaw

01:09 Financial Planning for Coaches

04:18 Tax Preparation Tips

07:23 Managing Your Tax Payments

19:28 Emergency Funds and Debt Management

20:43 Investing for Self-Employed Individuals

21:18 Understanding Different Investment Accounts

22:12 Roth IRA: Benefits and Drawbacks

23:02 Taxable Brokerage Accounts Explained

23:53 Emergency Funds and Business Cash Flow

24:53 The Importance of Managing Business Profits

26:17 High-Interest Debt vs. Investment Returns

28:00 Should You Invest in Crypto?

35:47 The Wealthy Coach Playbook

39:47 Tax Write-Offs: Myths and Realities

43:12 Conclusion and Contact Information


Justin Green, a CERTIFIED FINANCIAL PLANNER™, noticed a gap between the physical wellness online coaches promote and the financial health of their own businesses. That’s the space where Dollars and Dumbbells-Profit and Wealth Tips for Online Health and Fitness Coaches lives. This isn't just generic business advice; it's a focused conversation for creators in the health and fitness space who are ready to move from passion project to sustainable wealth. Justin, drawing from his work at Assist Financial Planning, digs into the specific money decisions coaches face. You’ll hear practical discussions on managing irregular cash flow, structuring your business finances efficiently, and making sense of investing so your profits work for the long term. The podcast unpacks often-overlooked areas like tax strategy, appropriate insurance, and even estate planning, because building a legacy is part of the goal. Through interviews and solo episodes, the content is designed to translate complex financial concepts into actionable steps. Tune in for a straightforward resource that addresses the unique intersection of personal training and personal finance, helping you build a resilient business that supports the life you want.
Author: Language: English Episodes: 100

Dollars and Dumbbells - Profit and Wealth Tips for Online Health and Fitness Coaches
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