Michael H. Shuman's guest appearances

Michael H. Shuman

Financial Survival Network

Rise Leaders Radio

Elon Musk

Paul Moore

Rod Khleif

Donald Trump

Eric Metaxas

Ken McElroy

Jordan Goodman

Avi Gilburt

Hillary Clinton

Mark Skousen

Rick Rule

James Rickards

Robert Siciliano

Bernie Sanders

Ken Berry

OwlTail

Shop local is a mantra we’re hearing – and hopefully practicing – more often these days. Did you know we can also invest local? Michael H. Shuman is an expert in local economies. He’s a lawyer, economist, entrepreneur, author and activist when it comes to local. We cover the positive social and economic impact of local investment and talk about challenges and new solutions local business owners face. Hint: those that innovate – teaming up with like-minded small businesses in their vicinity, crowdsourcing, engaging their customers – are more likely to thrive. Finally, the ability to invest in local businesses through self-directed IRAs and solo 401(K)s is becoming easier and provides a bridge between investors and local business owners.   “Local businesses spend more of their money locally, and with those local relationships, what happens is that money stays in the economy. And you get the multiplier effect, which generates more income, wealth and jobs.” – Michael H. Shuman, Director, Neighborhood Associates Corporation  The symbiosis between local business and their neighborhood[10:06] “Regression analysis of communities across the United States [shows] that in those communities with the highest density of locally owned business, there’s the highest per capita job growth rate. And another study from the Federal Reserve in 2013 shows that when you look at counties across the United States and those counties with the highest density of locally owned business, there's the highest per capita income growth rate.” [11:03] “They are part of [communities] through volunteering, working through schools, supporting schools, etc. And it shows that in communities with a high density of locally owned business, there are higher rates of volunteership higher rates of voting, higher rates of engagement, and charities, higher rates of social stability.”Strength in numbers[12:46] “My biggest piece of advice to a local business proprietor is, stop acting alone, you don't have the bandwidth to do everything you need to do to succeed. What you do need to do is bring in partners…partners in your ownership. I would bring in some of your customers as co-owners of your business, and also as helpers in the decision-making of your business.” [28:16] “It's pretty hard for one local business, especially a small one to take this initiative on his or her own. But if you have a collection of 20, or 50, or 100, businesses working together, these are problems that can be solved. The COVID-19 pandemic has been an invitation to local businesses who've been struggling to think about how to pursue their business model a little bit differently, a little bit more collaboratively.”Female and minority-owned businesses are setting new standards[16:18] "What we've seen with investment crowdfunding is that half million Americans put about $370 million into 1500 businesses. The most disproportionately successful businesses have been those run by women and people of color, those are the ones who have welcomed in grassroots ownership, grassroots partners. And also it represents the people who were locked out of the conventional capital markets. All of these outgroups are innovating in a different and exciting way."   Michael H. Shuman's website and more resources: https://michaelhshuman.com/ https://twitter.com/smallmart https://www.facebook.com/MichaelHShuman   By purchasing through Bookshop you'll support local, independent bookstores. Rise Leaders is an affiliate and may benefit from your purchase. Put Your Money Where Your Life Is:  https://bit.ly/3oevBNL The Local Economy Solution:  https://bit.ly/3o65c4u Local Investing Groups &amp; LIONs: https://bit.ly/397Js45 Interview with Turn's founder Lauren Clarke: https://bit.ly/3o0sx7C Rise Leaders' newsletter: https://mailchi.mp/426e78bc9538/subscribe

Shop local is a mantra we’re hearing – and hopefully practicing – more often these days. Did you know we can also invest local? Michael H. Shuman is an expert in local economies. He’s a lawyer, economist, entrepreneur, author and activist when it comes to local. We cover the positive social and economic impact of local investment and talk about challenges and new solutions local business owners face. Hint: those that innovate – teaming up with like-minded small businesses in their vicinity, crowdsourcing, engaging their customers – are more likely to thrive. Finally, the ability to invest in local businesses through self-directed IRAs and solo 401(K)s is becoming easier and provides a bridge between investors and local business owners. “Local businesses spend more of their money locally, and with those local relationships, what happens is that money stays in the economy. And you get the multiplier effect, which generates more income, wealth and jobs.” – Michael H. Shuman, Director, Neighborhood Associates Corporation  The symbiosis between local business and their neighborhood [10:06] “Regression analysis of communities across the United States [shows] that in those communities with the highest density of locally owned business, there’s the highest per capita job growth rate. And another study from the Federal Reserve in 2013 shows that when you look at counties across the United States and those counties with the highest density of locally owned business, there's the highest per capita income growth rate.” [11:03] “They are part of [communities] through volunteering, working through schools, supporting schools, etc. And it shows that in communities with a high density of locally owned business, there are higher rates of volunteership higher rates of voting, higher rates of engagement, and charities, higher rates of social stability.”Strength in numbers [12:46] “My biggest piece of advice to a local business proprietor is, stop acting alone, you don't have the bandwidth to do everything you need to do to succeed. What you do need to do is bring in partners…partners in your ownership. I would bring in some of your customers as co-owners of your business, and also as helpers in the decision-making of your business.” [28:16] “It's pretty hard for one local business, especially a small one to take this initiative on his or her own. But if you have a collection of 20, or 50, or 100, businesses working together, these are problems that can be solved. The COVID-19 pandemic has been an invitation to local businesses who've been struggling to think about how to pursue their business model a little bit differently, a little bit more collaboratively.”Female and minority-owned businesses are setting new standards [16:18] "What we've seen with investment crowdfunding is that half million Americans put about $370 million into 1500 businesses. The most disproportionately successful businesses have been those run by women and people of color, those are the ones who have welcomed in grassroots ownership, grassroots partners. And also it represents the people who were locked out of the conventional capital markets. All of these outgroups are innovating in a different and exciting way." Michael H. Shuman's website and more resources: <a href="https://michaelhshuman.com/" rel="nofollow" target="_blank">https://michaelhshuman.com/</a> <a href="https://twitter.com/smallmart" rel="nofollow" target="_blank">https://twitter.com/smallmart</a> <a href="https://www.facebook.com/MichaelHShuman" rel="nofollow" target="_blank">https://www.facebook.com/MichaelHShuman</a> By purchasing through Bookshop you'll support local, independent bookstores. Rise Leaders is an affiliate and may benefit from your purchase. Put Your Money Where Your Life Is:  <a href="https://bit.ly/3oevBNL" rel="nofollow" target="_blank">https://bit.ly/3oevBNL</a> The Local Economy Solution:  <a href="https://bit.ly/3o65c4u" rel="nofollow" target="_blank">https://bit.ly/3o65c4u</a> Local Investing Groups &amp; LIONs: <a href="https://bit.ly/397Js45" rel="nofollow" target="_blank">https://bit.ly/397Js45</a> Interview with Turn's founder Lauren Clarke: <a href="https://bit.ly/3o0sx7C" rel="nofollow" target="_blank">https://bit.ly/3o0sx7C</a> Rise Leaders' newsletter: <a href="https://mailchi.mp/426e78bc9538/subscribe" rel="nofollow" target="_blank">https://mailchi.mp/426e78bc9538/subscribe</a>

#30. Local Economy Multipliers | Michael H. Shuman

The big idea: Americans agree on very little these days. But as local economies flatline and unemployment figures rival those of the Great Depression, red-state conservatives and blue-state progressives can agree on one critical point: Wall Street can no longer be trusted. According to the Federal Reserve, Americans have $56.5 trillion locked away in Wall Street’s stocks, bonds, pension funds, and more. Yet Main Street—not Wall Street—is what powers 60 to 80 percent of the U.S. economy. These local businesses generate two to four times more jobs than Wall Street’s lauded corporate behemoths. They spend more of their money locally, pay local taxes, hire local people, and create far-reaching social returns for your community.   In a well-functioning investment marketplace, 60 to 80 percent of your money should be supporting 60 to 80 percent of the economy. Today, almost none is.   The key message: “We’ve been conditioned to funnel our retirement savings into the stocks and bonds of Fortune 500 companies, all but ignoring local businesses that are highly competitive and profitable,” explains economist and local-economy advocate Michael H. Shuman. His solution? Help Americans shift that $56.5 trillion into local businesses, projects, and people. In his timely new book, Put Your Money Where Your Life Is: How to Invest Locally Using Self-Directed IRAs and Solo 401(k)s (Berrett-Koehler Publishers; June 2, 2020), Shuman shares:  How two well-established, do-it-yourself investment tools—self-directed IRAs and solo 401(k)s—can keep your money close to home while meeting (or beating) Wall Street’s returns 3 myths about local investing that even skilled financial advisors get wrong Surprising, self-investment strategies that generate higher returns than typical retirement plans: from paying off credit cards to investing in a home 8 smart steps that help anyone find promising, local investments, even as the pandemic rages on Simple, low-cost initiatives local governments can take to mobilize local investors for post-COVID reconstruction.

In A Beat Down Economy, Invest In Main Street - Michael H. Shuman #4817