Last week, I cut my thumb pretty badly while slicing apples. Why? Because I was multitasking! As more and more people in the business world now recognize, multitasking simply doesn't work most of the time. Sure, you can walk and chew gum at the same time, but trying to engage in a conversation with your wife while cutting apples . . . not so much.
There is, however, one specific area of life that is not only ideal for multitasking, but where applying it can actually increase your net worth this year. And that is . . .listening to podcasts.
Podcasts can be consumed while you'e driving to the office, walking the dog, standing around the gym pretending to know what you're doing. (that's me) and much more.
Of course, not all podcasts are going to make you rich. Some will make you laugh, others will make you cry and still others will demonstrate how to keep your dog from soiling the carpet. But a growing number of podcasts are now focused on business, finance, entrepreneurship and other topics designed to make you richer.
I want to share six of my favorite podcasts that will help you get rich in 2016.
1. The 'Stacking Benjamins' podcast, with Joe Saul-Sehy and OG
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Humor and personal finance rarely wind up in bed together, but the Stacking Benjamins podcast is one of those rare shows that makes me laugh and teaches me something new each time.
Hosts Joe Saul-Sehy and OG (along with other guests) make this show as enjoyable as sitting in your mom's basement, drinking a beer with old friends. In fact, each show takes place in “Joe's mom's basement,” which adds to the charm that is Stacking Benjamins. Plus, the “magazine style” format means that each show features numerous topics, keeping with the fast-paced vibe of the show.
Highly recommended episode: “Live from #FinCon15.” Check out the show on iTunes.
2. 'The Dave Ramsey Show' podcast, with Dave Ramsey
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It would be difficult to talk about money-related podcasts without mentioning the behemoth in the room — The Dave Ramsey Show podcast. For millions of Americans, Dave Ramsey is a household name, as his popular radio show is heard throughout the country by more than eight million people each week. His podcast has consistently been ranked the No. 1 or No. 2 business podcast on iTunes for as long as I've been watching the list. (And I've been watching a while: Dave… I'm coming for you!)
Ramsey's philosophy is simple: Get out of debt now, live responsibly and grow wealthy. Through its “seven baby steps,” (and radio program, TV show, podcast, courses and live events) the Ramsey organization has helped millions of Americans get out from the crushing burden of consumer debt and begin building wealth through smart saving, responsible spending and careful investing. I was one of those millions when I stumbled across Dave's book The Total Money Makeover almost a decade ago.
I believe that getting rich starts with building a solid financial foundation in your life, and The Dave Ramsey Show podcast is one of the best ways to get that foundation.
Highly recommended episode: The newest show. Check out the show in iTunes.
3. The 'Smart Passive Income' podcast, with Pat Flynn
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Online entrepreneurship has swept the globe over the past decade, and one of the leading voices in that movement has been my friend Pat Flynn, with The Smart Passive Income podcast. In fact, of all the shows on this list, Flynn's had the biggest impact on me personally when I first decided to take “wealth-building” more seriously.
Each week, Flynn brings on guests who have achieved significant success in the online business world and who, on air, dive into the strategies and tactics that made it possible. Flynn's show is great for both beginner and advanced online entrepreneurs, and I've never finished a show without several actionable pieces of advice to apply to my own business.
Highly recommended episode: No. 46: “Building a Lucrative Business with No Ideas, No Expertise & No Money, with Dane Maxwell.” Check out the show in iTunes.
4. The 'Radical Personal Finance,' with Joshua Sheats
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For those looking for greater depth on a variety of financial topics, don't miss The Radical Personal Finance podcast with host Joshua Sheats. Sheats is an incredibly smart financial advisor who holds nothing back as he provides in-depth content and “master’s degree-level education” to listeners. If there is one show on this list that is going to make your brain hurt — in a totally amazing way — it's The Radical Personal Finance podcast.
Highly recommended episode: No. 272: “A Proven Strategy to Increase Your Income in the Next Year.” Check out the show in iTunes
5. The 'So Money' podcast, with Farnoosh Torabi
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Are you looking to live a “richer, happier life”? That's the goal of Farnoosh Torabi's daily So Money podcast.
Torabi, a financial writer and TV correspondent , has a distinct style that is both engaging and informative, which can be difficult to do in the personal finance niche. Torabi also has managed to land some huge guests on her podcast, including Tony Robbins, Tim Ferriss, Gretchen Rubin, Jim Cramer, Seth Godin, Robert Kiyosaki and many others who help inspire listeners to truly take their wealth to a new level.
In addition, each week, Torabi hosts an “Ask Farnoosh” episode, which covers topics submitted by listeners. I find these episodes especially helpful, as almost every topic pertains to something I myself have wondered about!
Highly recommended episode: No. 38: “An Interview with Mr. Money Mustache.” Check out the show in iTunes.
6. The 'BiggerPockets' podcast, with Josh Dorkin and Brandon Turner
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Is it okay to include my own podcast in a list?! Perhaps it is, since it is one of the most popular business-related podcasts on iTunes!
The BiggerPockets podcast is different from the other shows on this list in that it's highly niche-specific about one topic: real estate investing.
Each week, Josh Dorkin (CEO of BiggerPockets.com) and I (Brandon Turner) sit down with a guest to discuss the best ways to build wealth using real estate investing. These guests are not late-night TV gurus, but real-life individuals from the BiggerPockets community. We talk about buying rental properties, flipping houses, marketing, creative strategies, mistakes and more. Each show follows a similar format, beginning with how the guest first entered the world of real estate investing and ending with the “world-famous Famous Four” questions.
Highly recommended episode: No.108: “Building a $350 Million Real Estate Empire Using the 10X Rule,” with Grant Cardone.” Check out the show in iTunes
Obviously, just listening to a podcast is not going to make you richer in 2016. For that, you're going to need to take action.
The good news is, you can get the best advice on what action to take, for free, by listening to podcasts. Even better, you can get this advice while doing your normal day-to-day activites. So, back to multitasking: Podcasts are one type of multitasking that isn't going to get your thumb cut off!
Do you have a favorite podcast you want to share with us? Let me know in the comments below!