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Matt Franklin

“I'm a successful entrepreneur with good stories and sound advice. I've been on Shark Tank and I love helping out fellow entrepreneurs.”

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About Me

Matt Franklin is a serial entrepreneur from Portland, OR. He’s run a one-man video production company since 2006 and he’s a part-time product developer. His most successful product landed him on Shark Tank in Season 4.

Since his ST appearance, he’s spoken with hundreds of entrepreneurs of all experience levels as they try to launch new products and businesses. In doing so, one thing he discovered is that self-employed people are terrible about retirement planning and investing. Whether it’s a lack of financial education, the belief their business will end up funding their retirement, or simply procrastination, being behind on retirement preparation seems to be a universal problem among entrepreneurs.

Upon realizing that he too, was unprepared for his golden years, Matt became obsessed with retirement investing. He completely overhauled his investment strategy, and by getting out of the stock market and into cash-flowing investments like rental houses and apartment syndications, he was able to shave ten years off his working life. Now enjoying “pre-tirement,” Matt hosts a podcast called the Rogue Retirement Lounge. His mission is to help entrepreneurs with retirement strategies so that they won’t have to work into their seventies.

Entrepreneurship talking points:

Shark Tank. What’s it like to be on the show? It’s terrifying. And I am the only Shark Tank contestant to have been punched in the face by another contestant.

Likability as a strategic advantage: No matter how great your product/service is, if you’re not likable, you will not succeed. As you start your business, working on yourself, developing “EQ” could be the most important asset in your entire business toolkit.

Fledgling inventors – where do I start? Since I was on Shark Tank, I’ve had literally hundreds of entrepreneurs who have product ideas contact me, asking, ‘where to start’ toward getting their product created. My advice often surprises them: 1) Stop worrying about protecting your idea and get going on making it. 2) Find a similar product and find out who manufactures it. 3) Don’t trust your family’s advice/feedback on your product.

Retirement/Finance talking points:

Four reasons entrepreneurs are so bad at retirement planning: 1) Variable self-employment income makes it difficult or impossible to arrange automatic salary deductions like people with real jobs and 401(k) plans can do.

2) They think their business will provide ‘auto-pilot’ income, or they’ll be able to sell it to finance their golden years (when in truth, the MAJORITY of businesses fail by the 10-year mark).

3) They say the “LOVE what they do” so they plan to keep working into their 70s.

4) Nobody teaches entrepreneurs how to plan for retirement. I’ve read dozens of entrepreneurship books, been to seminars, etc. and NEVER was the topic of retirement planning raised. Many entrepreneurs just don’t know where to start and what to do.

Why a paid off home mortgage is a sign of financial illiteracy: Currently we’re at the lowest interest rates for 5,000 years. Your home will appreciate the same amount whether you have 20 or 100% equity, so rather than put your money into hibernation in the form of equity, put it to work for you while you pay history’s lowest interest rates on the mortgage. The value of the money you’re borrowing is declining at (arguably) around 5% per year. So that means if you’re paying $1,500 a month today, in 12 years, it will feel like you’re paying $750. Want real rent control? Get a 30-year fixed mortgage.

Why Dave Ramsey/David Bach’s advice to pay down your home mortgage is DUMB: The gurus will tell you to pay an extra $100 a month toward your mortgage, and you’ll pay it off five years early. Do that and you’ll lose out on at least $85,000.

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