Mid-Year Financial Reset: Key Takeaways from the First Half of 2025 (SB1708)

The Stacking Benjamins Show episode SB1708, released on July 14, 2025, serves as a comprehensive mid-year financial reset, encapsulating crucial lessons, discussions, and strategies gleaned from the first half of the year. Hosts Joe Saul-Sehy and OG, alongside guest Gary McDermott, navigate through themes of goal setting, budgeting, consumerism, retirement planning, and the psychological aspects of financial management. This summary delves into the episode's key sections, highlighting significant insights and memorable quotes to provide a thorough understanding for both regular listeners and newcomers.

1. Introduction to the Mid-Year Financial Reset

The episode kicks off with the hosts acknowledging the halfway mark of 2025, reflecting on personal goals and the collective progress of their listeners, affectionately known as "Stackers."

Joe Saul-Sehy (01:55):

"We began the year in a spot that for you and I made a lot of sense. Which was the first thing you do in your financial plan. The very first thing is get income moving the right way."

2. Goal Setting and the Importance of Milestones

A central theme is the significance of setting and regularly reviewing financial milestones. Joe emphasizes the necessity of periodic assessments to adjust goals, preventing stagnation and ensuring continuous progress.

OG (04:22):

"If you have a good system, if you are poor with money and you make $70,000 a year and you think that magically, if I make $100,000 a year, I'm going to be magically good with money, that's not going to. You'll just have $100,000 worth of problems."

The discussion underscores that increasing income without a solid financial system can exacerbate problems rather than solve them.

3. Mindset and Risk Management in Financial Planning

Drawing from insights by Alex Hormozi and observations of high-profile entrepreneurs like Jeff Bezos, the hosts delve into the nuanced understanding of risk. They argue that perceived risks can be mitigated through skill acquisition and strategic thinking, allowing for greater financial rewards without proportionate risks.

Alex Hormozi (12:47):

"If you want to make more within a business, you need to take on more risk. The people who are most highly compensated in any business are the ones who incur more risk."

Joe Saul-Sehy (13:16):

"Skill is how you mitigate the risk 100%. That's what you're saying."

The conversation highlights that successful financial growth often involves embracing and managing risks intelligently rather than avoiding them.

4. Budgeting Tools and Frugality

The episode transitions to practical budgeting strategies, emphasizing simplicity and mindfulness over restrictive austerity. Guests Kristen Wade and Brian Suttis share techniques to track and control spending without falling into the trap of shaming oneself for financial missteps.

Gary McDermott (25:15):

"When people are looking at budgeting, they think it has to be this huge undertaking and a really intense process and stop eating out, stop having fun."

Joe adds that starting with broad categories can prevent overwhelm and increase the likelihood of maintaining a budget.

Joe Saul-Sehy (25:48):

"Start big picture and then when you find the thing that's going to, you know, when you want to dive into it, then you have the technology already built up."

5. Consumerism and Intentional Spending

A spirited debate unfolds around the concept of consumerism, where Joe initially frames it neutrally as the act of consumption, while OG highlights the negative connotations often associated with the term. They stress the importance of intentional spending—purchasing items that align with personal values and contribute to genuine happiness.

Joe Saul-Sehy (32:19):

"If you go to a NASCAR race, NASCAR wants me to go to the NASCAR race. I love NASCAR. Everybody knows that."

OG (36:46):

"If we do the things that we want to do, I don't owe you an explanation for why I do it."

The hosts agree that mindful consumption fosters financial well-being and personal satisfaction, countering societal pressures to spend impulsively.

6. Redefining Retirement

Retirement planning takes center stage as the hosts explore shifting perspectives on what retirement should entail. They reference insights from Benjamin Brandt and discuss the importance of purpose and meaningful activities over traditional notions of leisure.

Benjamin Brandt (Referenced at 48:54):

"We should be looking at ourselves all the time as a science experiment to think about what truly makes us happy so that when we leave our job, we're actually filling our hours with things that we appreciate."

OG further elaborates on the necessity of testing retirement activities to ensure they bring genuine fulfillment, rather than adhering to clichéd expectations.

OG (50:06):

"You need to do the things that you think you're going to do. If you've been working for 20 or 30 years, go test it out."

The discussion emphasizes flexibility and continuous evaluation to craft a retirement lifestyle that genuinely enhances well-being.

7. Importance of Community and Social Connections

The hosts underscore the role of community in personal fulfillment and stress management, referencing the documentary Join or Die by Pete and Rebecca Davis. They argue that active participation in community groups fosters a sense of belonging and reduces stress, contrary to the isolating tendencies exacerbated by excessive online interactions.

Joe Saul-Sehy (72:22):

"Our friend SJ Fjord says Joe seems to have selective amnesia. Flying to Egypt and Nepal and all the other places visited is a form of consumerism."

OG (37:40):

"But it turns out that we also get energy, even if we're an introvert, from being a part of a community. And you just don't get that online."

The episode advocates for balancing personal financial goals with community engagement to achieve holistic well-being.

8. Investment Strategies and Trends

Barry Ritholtz's viewpoints on investment strategies are explored, particularly his caution against following transient market trends influenced by media personalities. The hosts highlight the importance of timeless, foundational investing principles over chasing fads that may not yield sustainable returns.

Gary McDermott (69:18):

"A lot of people to catch the trend, they go listen to all of these CNBC personalities... You have to be willing to adjust to changing conditions."

The discussion encourages investors to focus on enduring strategies and adapt philosophically to evolving market dynamics rather than relying solely on historical expertise.

9. Mindfulness and Spending Decisions

The conversation returns to the theme of mindfulness in financial decisions, illustrating how intentional spending can lead to greater happiness and financial stability. The hosts caution against spending for the sake of spending, advocating instead for expenditures that provide meaningful benefits and align with personal goals.

OG (62:30):

"Anybody who thinks that spending money is going to make them happy by definition is to be severely disappointed."

Joe Saul-Sehy (65:28):

"This idea of time, right? It's not the money in Uber, it's, do I want to spend. Is that quality time that I spend with my kid in the car, or is it just I'm an Uber?"

They discuss the balance between financial expenditure and the preservation of time—arguing that wealth should enhance life quality without eroding valuable moments.

10. Conclusion and Takeaways

In wrapping up, the hosts consolidate the episode's key lessons: prioritize mindset, implement robust financial systems, practice intentional spending, redefine retirement with purpose, engage with community, and adopt enduring investment strategies. They encourage listeners to apply these insights through actionable steps and continuous self-assessment.

Doug (77:09):

"First, take some advice from our team. We made some great podcasts for you. Now go implement. Second, while our topics covered a wide range of tools, lessons and strategies, overwhelmingly it's mindset that changes everything."

Joe Saul-Sehy (78:35):

"Flip the script. Whether it's this consumerism idea, whether it is your portfolio and managing your portfolio, whether it is what brings you happiness. Flip the script. Get mindful about it."

The episode concludes with an invitation to listeners to engage further with their financial planning through expert consultations and continued education via additional podcast episodes.

Notable Quotes:

• OG (04:04):

  "Moment of silence for the repurchase requirement."

• Joe Saul-Sehy (35:32):

  "I don't owe you an explanation for why I chose to do that."

• Gary McDermott (62:18):

  "When experts are wrong, it's because they're experts in the way the world used to be."

• OG (76:11):

  "Flip the script."

Final Thoughts

Episode SB1708 of The Stacking Benjamins Show offers a multifaceted exploration of mid-year financial strategies, blending practical advice with psychological insights. By emphasizing the interplay between mindset, strategic planning, and intentional actions, the hosts provide listeners with a robust framework to navigate the remainder of 2025 successfully. Whether tackling budgeting challenges, redefining retirement, or fostering community connections, this episode serves as a valuable guide for anyone seeking to enhance their financial literacy and achieve enduring financial well-being.