Herd
Get App
Money Magnet podcast cover art

Money Magnet

BySteve McKnight
58 episodes

Podcast Summary

Want to know how to attract and keep a fortune that counts?Listen in as two mates - #1 best selling author and investing expert Steve McKnight and esteemed journalist Rohan Wenn - discuss how to tackle and overcome the everyday challenges of making, managing and multiplying your money.The topics aren't mainstream blah, blah, blah. Expect entertaining, interesting and educational episodes that deliver practical and profitable instruction on how you can count your money, and make your money count.

#1

A fond farewell

What will be your legacy - how you’ll be remembered after you are passed on? This topic is the perfect climax to the Money Magnet podcast, which concludes with an invitation to those who are wondering ‘what next?’See omnystudio.com/listener for privacy information.

2024-02-20•23mins
#2

Is giving a waste of money?

If giving money means less for you, what role does it play in wealth creation? The surprising answer provided might question the worth or value of giving and whether your focus is aligned with the way you make, manage and multiply your money.See omnystudio.com/listener for privacy information.

2024-02-13•18mins
#3

How to find meaning in money

Beginning Part 4 of Money Magnet, Steve & Rohan discuss their experiences watching other people use money to help and hinder their personal lives and explore ideas for how people can add meaning to their money beyond simply dollars and cents. See omnystudio.com/listener for privacy information.

2024-02-06•15mins
#4

The recipe for getting rich

Discover the three ingredients needed to become and remain rich, together with the method for combining them so you can make the most money, in the quickest time, for the least risk and lowest aggravation.See omnystudio.com/listener for privacy information.

2024-01-30•14mins
#5

Say Yes! To Carrots

While unpacking an intriguing new saying, Rohan quizzes Steve about his 7-step ‘path to prosperity’ system for making, managing and multiplying a fortune that counts. See omnystudio.com/listener for privacy information.

2024-01-23•16mins
#6

How to avoid a debt trap

Steve and Rohan discuss how to spot and avoid debt traps in order to help you stay off the road to poverty, which is paved with good intentions gone bad through the use and abuse of debt.See omnystudio.com/listener for privacy information.

2024-01-16•10mins
#7

Is the Great Australian Dream dead?

Is owning a home still the Great Australian Dream, or is getting into a multi-decade financial commitment a precursor to a nightmare situation that ends in an asset-rich, income-poor financial reality? Steve outlines his plan for having income from investments, and home security too.See omnystudio.com/listener for privacy information.

2024-01-09•21mins
#8

How not to be deceived by debt

Find out why the common phrase of ‘good debt and bad debt’ is a lie perpetrated by lenders who want to gain customers for life, and who want to profit from debt servitude. Steve explains how he has used self-liquidating assets to create wealth.See omnystudio.com/listener for privacy information.

2023-12-19•18mins

Listen to your favourite podcasts.

Now ad-free.

Download herd and enjoy uninterrupted, high-quality podcasts without the wait.

Download on the
App Store
#9

The surprising truth about savings

Given it’s almost impossible to save your way to financial freedom, why do parents preach to their kids the importance of saving up their money, when what’s really needed is for parents to show their kids how to invest? Keep an ear out for the explanation of a valuable Steveism about how savings are a store of wealth, not a source of wealth.See omnystudio.com/listener for privacy information.

2023-12-12•13mins
#10

The realities of retail therapy

Steve and Rohan explore the concept of how money can be sticky or slippery as they discuss the principle of it’s not how much you make, but rather how much you keep that counts. Listen in to find out why a dollar saved is more than a dollar earned.See omnystudio.com/listener for privacy information.

2023-12-05•14mins
#11

How to make more money

Have you ever heard the saying about working smarter rather than working harder and wondered how exactly that can be done? The answer is outlined in this episode via Steve’s TMM principle.See omnystudio.com/listener for privacy information.

2023-11-28•15mins
#12

The simple secret to abundant wealth

The secret to abundant and lasting wealth is so simple it could be taught at kindergarten. Find out what it is, and how you can use it to transform your financial future.See omnystudio.com/listener for privacy information.

2023-11-21•13mins
#13

Steve’s confesses his biggest mistake

Using the wisdom of his late grandfather, Steve looks ahead to Part 3 of 'Money Magnet' and confesses the biggest mistake he’s ever made as an investor, and what you need to do to avoid following in his footsteps.See omnystudio.com/listener for privacy information.

2023-10-24•9mins
#14

Why smart people struggle to get rich

Why is it that people less smart than can still accumulate more wealth than you? The surprising reason is revealed and explained, as is a handy benchmark you can apply to see if you are an average, under or prodigious accumulator of wealth.See omnystudio.com/listener for privacy information.

2023-10-17•17mins
#15

Should you leave your kids an inheritance?

After sharing the insight that wealth is generational, Steve explains why the first generation makes it, the second generation holds it, and the third generation squanders it. Rohan asks Steve about how he prepares his kids for handling money before asking whether it’s smart to leave your kids an inheritance.See omnystudio.com/listener for privacy information.

2023-10-10•13mins
#16

Do you have mutant financial DNA?

How would you rate your financial pedigree – purebred or mongrel, or maybe something in-between? Discover how your financial IQ and financial EQ combine to determine whether you are naturally money attractive, as well as how to overcome poor financial programming.See omnystudio.com/listener for privacy information.

2023-10-03•17mins
#17

How well can you read the language of money?

In a recent study, approximately 85% of Australians were found to have poor or average financial literacy. Find out what this means for the country generally, and for you specifically in terms of your ability to attract and keep a fortune that counts.See omnystudio.com/listener for privacy information.

2023-09-26•15mins
#18

If not now, then when?

As Steve and Rohan recap all Money Magnet’s Part 1, pay attention to the summary of now, then and when, as the precursor to understanding how to answer the questions ‘how’ to invest and ‘what’ to invest in.See omnystudio.com/listener for privacy information.

2023-09-19•13mins
#19

How to achieve mission impossible

Have you ever wondered what prompted Steve to buy 130 properties in 3.5 years, and how he went about achieving it? All is revealed as Steve and Rohan discuss how to go about accomplishing a seemingly impossible goal.See omnystudio.com/listener for privacy information.

2023-09-13•9mins
#20

A blueprint for financial freedom

If you’re trying to accumulate wealth on the fly then you’re akin to a builder constructing a house without a plan, and the result is likely to be problematic. In this episode Steve shares his recommended blueprint for building lifetime wealth.See omnystudio.com/listener for privacy information.

2023-09-05•12mins
#21

Counting Time

Time accountability is a key skill for ensuring that you operate at peak productivity, but is having to split up your day into six minute interviews overkill? Discover how to count your time so you can make your time count.See omnystudio.com/listener for privacy information.

2023-08-30•13mins
#22

You’ll never be rich if you don’t know this

Who knew that how you received pocket money as a child forms a behavioural pattern for the way you handle your finances as an adult? If you’ve got kids, you’ll definitely want to listen in.See omnystudio.com/listener for privacy information.

2023-08-08•21mins
#23

How to save yourself from financial slavery

What are the common mistakes that lead to financial slavery, and how can you avoid making them? And why is being your own boss, which some laud as being superior to working for someone else, possibly flawed thinking? See omnystudio.com/listener for privacy information.

2023-08-01•16mins

Listen to your favourite podcasts.

Now ad-free.

Download herd and enjoy uninterrupted, high-quality podcasts without the wait.

Download on the
App Store
#24

Steve’s model for financial freedom

Want to retire rich, retire early but don’t know how? Steve explains the model he used to achieve financial freedom and retire from having to work at age 32 – a model that’s just as applicable now as it’s always been.See omnystudio.com/listener for privacy information.

2023-07-25•15mins
#25

Why super alone isn’t enough

Given we’re all living longer, and many people desire to stop working earlier, the question everyone needs to answer is: how will you survive when you stop working? In his book, Money Magnet, Steve outlined four options, the first three of which are discussed in this episode: welfare, compulsory superannuation and voluntary superannuation. Steve also shares his thoughts on how to find a good accountant.See omnystudio.com/listener for privacy information.

2023-07-18•16mins
#26

How much is enough?

Do you have a definite money goal – how much and by when? If not, then this episode will be very helpful. You’ll discover the trick to understanding and implementing Steve’s 10-8 Rule, as well as other benchmarks and financial short-cuts, for calculating how much income and assets you’ll need to enjoy a life and lifestyle that many others can only dream of. See omnystudio.com/listener for privacy information.

2023-07-11•14mins
#27

Are you planning to be poor?

It’s unlikely anyone plans to be poor, but are you planning not to be? As discussion moves to Chapter 4 of Money Magnet, Steve and Rohan reveal how the process people seem to be following when they haven’t made a plan is leading to poverty in retirement. Want to avoid this outcome? Then listen in find out how to avoid making the common ‘miscalculation of time mistake’ by considering and answering three important questions.See omnystudio.com/listener for privacy information.

2023-07-04•9mins
#28

Seeing Is Believing

The central theme of this episode, which explores the concepts outlined in Chapter 3 of Money Magnet, is that if you don’t have a vision for your money, someone will. In such cases, money will leak and wealth will be repelled. Listen in for practical insights about how to improve your financial vision as a precursor to improving your finances.See omnystudio.com/listener for privacy information.

2023-06-27•16mins
#29

Is hope a hopeless plan?

Many people hope for a better financial future, but in this episode Steve explains why hope is not enough before delving deeper and sharing what else is needed. Be on the listen-out for some fun personal facts, including how Steve misspent his youth doing something that cursed his dating prospects.See omnystudio.com/listener for privacy information.

2023-06-20•10mins
#30

Is it really possible to get rich quick?

Rohan made a career out of finding and exposing financial fraudsters, which is why he was surprised to hear that Steve thinks it is possible to get rich quick. Listen in for the scoop, as well as learning why starting at the end, and ending at the start is a great way to gain focus.See omnystudio.com/listener for privacy information.

2023-06-13•14mins
#31

The secret to attracting and keeping more money

Listen in to discover how the way you think and act around money affects your ability to attract and keep a fortune. Find out if you have what it takes to succeed financially, and if not, how you can get what you need before it’s too late.See omnystudio.com/listener for privacy information.

2023-06-06•29mins
#32

Are we parenting our kids towards financial failure?

Are you worried that your parenting style might be hurting your children's financial future? Listen in to discover how well-meaning parents might be unwittingly making a big mistake, and why it is that family fortunes are made and lost over three generations.See omnystudio.com/listener for privacy information.

2023-05-30•13mins
#33

Chasing Dreams

Listen in to find out why it took Steve 16 years to write Money Magnet to discover the surprising truth about how comfort zones can hold you back, and what’s needed to find the courage to chase your dreams.See omnystudio.com/listener for privacy information.

2023-05-23•13mins
#34

Safe as houses

You’ve heard the saying, but is it true? How safe is real estate as an investment? In this episode, Steve explains how the residential property market is defying gravity and is actually poised to once again boom. He also shares four important tips for finding and maximising opportunities.See omnystudio.com/listener for privacy information.

2023-05-16•17mins
#35

How safe is my super?

Superannuation (aka Super) is often a person’s most important retirement asset, yet the topic is complex and confusing. Steve and Rohan break down what is super, explain recent important changes and give an important alert about how to make sure your super is performing.See omnystudio.com/listener for privacy information.

2023-05-09•18mins
#36

How to avoid a financial STD

Is it a good idea to lend money to, or invest with, family and friends? Rohan raises several situations, including co-investing in a house and prenuptials, and seeks Steve’s guidance on how he’d consider structuring things to gain maximum protection against financial loss, and personal aggravation and anxiety.See omnystudio.com/listener for privacy information.

2023-05-02•15mins
#37

How good is the government’s guarantee?

Is the Australian government’s deposit guarantee scheme of $250,000 per account something that can be relied upon? Discover the surprising detail in the fine print that waters down the effectiveness of the scheme, and how you can ensure you have maximum protection for minimum cost.See omnystudio.com/listener for privacy information.

2023-04-25•13mins
#38

Can You Bank on Banks?

Banks are not governments. They are profit making ventures which have been known to fail on a regularly frequent basis throughout history. Find out what causes banks to fail, and why the inherent nature of their liquid debts and illiquid assets mean most banks operate an inch away from insolvency.See omnystudio.com/listener for privacy information.

2023-04-18•12mins
#39

Rohan wins Tattslotto!

Incredible! Rohan has won tattslotto! Find out the details and whether life really is a dream for winners. This episode is also the first in a new mini-series titled “How safe is my money”. Rohan shares what he learned in psychology class, and Steve outlines who you can turn to in a crisis.See omnystudio.com/listener for privacy information.

2023-04-11•16mins
#40

Ever been sky diving?

The looming mortgage cliff is presenting as a scary proposition for 800,000+ borrowers and could crash the housing market and the economy. Steve and Rohan explore what the ‘mortgage cliff’ is, and what you can do (or how you can guide someone else) to avoid a financial disaster.See omnystudio.com/listener for privacy information.

2023-04-04•12mins
#41

Is the government sending the nation broke?

Why do governments need to borrow, and is government debt going to lead us into a recession, or worse, as global interest rates rise? Some economists believe the normal rules of debt don’t apply to governments, but find out why Steve believes no one can escape the downsides of debt.See omnystudio.com/listener for privacy information.

2023-03-21•8mins
#42

Can you still buy positive cashflow property?

Getting back to basics, Rohan seeks Steve’s help explaining how to build wealth by investing in real estate, before asking the question everyone seems to want an answer to: how do you find positive cashflow property in Australia?See omnystudio.com/listener for privacy information.

2023-03-14•17mins
#43

Are you worried about what’s going on?

With interest rates on the rise, mortgages and the cost of everything on the up and up, households are feeling the financial pinch more and more. Discover what ‘Dictator Steve’ would do to fix the problem, and what you can do to prevent getting pinched in the first place.See omnystudio.com/listener for privacy information.

2023-03-07•7mins
#44

"Some guidance would be gold”

A listener in his 50s has written in seeking some guidance and investing direction, which leads to a very interesting case study and supporting discussion of important concepts everyone can profit from. See omnystudio.com/listener for privacy information.

2023-02-28•11mins
#45

More tips for teaching your kids about money

If teaching your kids to save is dangerous, what should you be teaching them? Steve and Rohan delve deeper into what you can do to empower your children and help them form lifetime habits that will see them attract, rather than repel, money.See omnystudio.com/listener for privacy information.

2023-02-21•8mins
#46

Is property a ponzi scheme?

Pozi schemes are scams that topple over and cause huge losses for those taken in by them. Might property be a ponzi scheme? Find out why Steve McKnight says it might be, and what you can do to protect yourself from being wiped out if the ‘house of cards’ topples over.See omnystudio.com/listener for privacy information.

2023-02-14•17mins
#47

The danger in teaching your kids to save

Did you parents drum into you the importance of saving? Are you telling your kids the same thing? Find out how you’ll never be rich if you can’t save, but you’ll never be rich by saving alone. The truth is saving is the outcome, and that a more critical skill is needed. Listen in to find out what it is.See omnystudio.com/listener for privacy information.

2023-02-07•7mins
#48

Why don’t they teach about money in schools?

Ever wondered why they don’t teach good money habits at school? The answer is revealed in this episode, together with an outline of what parents should be doing to set their kids up for lives of financial empowerment (and it’s not leaving them a big inheritance!).See omnystudio.com/listener for privacy information.

2023-01-31•19mins
#49

Why you should be interested in interest rates

Interest rates are on the up and up, which will be a crisis for some and an opportunity for others. Steve and Rohan start with the basics of what interest is and how it is calculated, before the conversation takes a very unexpected turn to a theory that has to be heard to be believed. See omnystudio.com/listener for privacy information.

2023-01-24•20mins
#50

Should I fix my home loan interest rate?

With home loan interest rates on the up and up, Steve & Rohan explain the pros and cons of whether or not it’s a good idea to fix your interest rate. Also, up for discussion is the relationship between inflation and interest rates, and why Steve believes rates need to go higher – maybe much higher, and why interest rates going back down will be an ill omen for the Aussie economy. See omnystudio.com/listener for privacy information.

2023-01-17•22mins

Listen to your favourite podcasts.

Now ad-free.

Download herd and enjoy uninterrupted, high-quality podcasts without the wait.

Download on the
App Store