Business Innovators Radio - Nobby Kleinman Shares How His “Money Rules” Program Helps Women Take Control of Their Financial Future

Episode Date: June 17, 2024

In this episode, Dr. Tami Patzer talks with Nobby Kleinman, a former financial advisor with over two decades of experience serving thousands of clients and employees. Nobby is the creator of the Money Rules program, which is designed to empower women by giving them control over their money and future.Nobby’s mission is clear – “a man is not a plan, and there is no knight in shining armor.” He offers practical advice on managing money, eliminating debt, and creating future wealth using one’s current income. Nobby’s program was inspired by his own experience getting out of debt and the feedback he received from women who wanted help with daily money management, not just investment advice.The main points discussed include the importance of financial security for women, especially as they tend to live longer than men and often face financial challenges after divorce or widowhood. Nobby’s Money Rules program uses technology to provide a personalized, easy-to-follow plan that can help women see a path to living comfortably into their 100s, rather than relying on government assistance in retirement.This episode is a must-listen for any woman who wants to take control of her financial future. Nobby’s practical, empowering approach has helped countless clients, and his insights could be life-changing for those seeking financial independence and security. Listeners can find out more about Nobby Kleinman and the Money Rules program by visiting moneyrulesau.com.moneyrules.com.auhttps://www.linkedin.com/in/money-mentor/https://www.facebook.com/moneyrules.me/email [e-mail]: https://businessinnovatorsradio.com/nobby-kleinman-shares-how-his-money-rules-program-helps-women-take-control-of-their-financial-future

Welcome to Business Innovators Radio, featuring industry influencers and trendsetters, sharing proven strategies to help you build a better life right now. Hi, everyone. Today I'm really excited because I have a very special guest, Nabi Kleinman, joining us from Australia. So just to let you know what that means, it means it's about 8 o'clock at night in eastern United States, but it's about 10 o'clock in the United States. but it's about 10 o'clock in the morning the next day in Australia. So I always love that when we can actually span days using this wonderful technology. Nabi, I actually met him out in San Diego, California. It's been probably, let's see, oh my goodness, seven or eight years now. Or it could be even more than that.

Because, yeah, more like 10 or 11. See, time just flies. But Nabi, he's a former financial advisor with more than two decades of experience, having served more than 4,000 clients and hundreds of employees. He's the creator of the Money Rules Program, which is designed to empower women by giving them control over their money and future. that's a key word. Nobby's mission is clear.

A man is not a plan. There is no night in shining armor. And I can vouch for that. He offers practical advice on managing money, eliminating debt, creating future wealth using one's current income. So let's go ahead and dive into this because, again,

Navi is one of these people. and he's so charming. And when you follow him on Facebook, you are always just bombarded with all of these very sweet delights of all this really yummy cakes and pastries. And you just want to go eat in Australia with Nabi. So welcome, Nabi. Hi, Tammy.

Good to be with you. So we were talking a little bit about the money rules program, but I want to share it with your audience because you told me about how you retired and got bored. But you said something that struck me. You had one of those epiphanies in the shower and you got an idea. So tell me more about what really inspired you to focus on financial security. for women? It goes back to when I was a financial advisor and way back in 1994 and women were always saying to me, I don't want to know about financial planning, insurance or investment advice.

I just want to know how do I manage my daily money. And so what was happening was they were running out of money before running out of month. And the simple advice was spend less than you earn and pay the highest interest debt first. And that was just an industry standard. but that wasn't enough for them. A lot of ladies had always done budgets and found budgets boring dead end because it didn't take them anywhere.

And so when I finally sold my practice and I looked around, I couldn't find a program that would actually do what I wanted it to do. And it was totally by coincidence. I realized later that the program was based on my own experience on how I'd gotten myself out of debt. So it was a simple thing of, you know, one morning in the shower, it came to me. How do I show people how to manage their money, eliminate their debt, and create their

future wealth just on their current income without refinancing, remortgaging, getting a second or third job, eating baked beans for the next 10 years, or selling your first job? So when it came to me, I jumped out of the shower and I wrote everything down for the next two weeks and I sent it off. It was because of those women who asked for help that it made me think, how could I do this better than what was currently available? So it's interesting to me because you mentioned about how budgeting, and that is literally, back when I went to high school, what were we taught very limited information about money. And it was how to make a budget, a household budget, how to write checks. But that was pretty much what you were taught about money management.

And if you didn't have anyone like in your family who could tell you anything about money and savings and how to look to the future. That was about it. And I know that that seems to be why so many women don't have very much money going into, you know, let's call it supposedly the golden years. Why is financial security for women so important today more than ever? One of the biggest problems, take the recent pandemic, for instance, the pandemic has wiped out billions of dollars worth of savings. People who were no longer able to go and generate an income because they were locked away, were now living off their savings or selling their assets. And that was already a common occurrence before the pandemic.

So as people got older, they found that they hadn't saved enough money into retirement and started selling assets and using their savings. And the only thing that was left available to them after that was government pensions or handouts. And of course, that just leads to a life of poverty for a lot of people because lifestyles in retirement are no longer what they were when you were generating an income. The problem for women is that when money becomes very tight, it creates stress in a household. And unless it gets worked out because people don't talk to one another, you know, saying, this is all the money that I've got coming in, this is what I've got to work with, and that was the question that they were asking me for help with.

The husband starts saying, well, this is not good enough, I'm going to work doing all of that, and I'm coming home and basically have nothing. So it starts creating tension. 50% of the cases turn to divorce. Women's left on her own. And usually with the children and quite often carrying debt. and women are so resilient, I take my hat off to them. I really do it, very, very strong ladies.

And the problem is the average woman that I was dealing with was around about 47, two teenage children, looking back on her past, thinking I've got nothing left from the past, I've got about 20 years until I get to retirement, what am I going to do? And so now they need to sort of knuckle down and start doing stuff with my life. managing money, learning to help to manage money and generate an income, as well as find a place to live. And today, finding a place to live is so much harder, especially if you've got children. So if you're divorced, a man is not a plan. There is no white night coming. You are better off to plan knowing what you do for yourself is what you're going to end up with. And if you do

up meeting somebody else that you get into a relationship with or get married, then that becomes a bonus on top of it, just the added security. But becoming self-sufficient, self-secure in the knowledge that it doesn't matter what comes along, you've saved yourself, and it doesn't matter. That's the important thing. Women live longer than men, and therefore they're going to need money for much longer. And today with modern technology and science, keeping people alive with drugs and medicines and things like that, women are going to live even longer. So it's so important for women to make sure they're financially secure going forward.

When we were just chatting before we started the recording, you were talking about how first you have to obviously pay off your debt, but you're talking. you have whatever the income is that you have coming in. And you said something that caught my attention, which was most of the time people would retire and their retirement might last eight or nine years. And then they go on Social Security in poverty. But with the plan that you have,

they could keep living a comfortable life into their 100s if they live that long. Can you talk about some of the key features that are in your money rules program and how that works? Yeah, look, the reality is the problem for most people is they don't have a plan. And that's the simple truth. I mean, they give up on budgets, and I don't blame them because budgets are dead end. They don't go anywhere. They show you money coming in, money going out, and there's nothing left over.

And when I said that to women, they said, I'm not giving up my glasses. wine on a Friday night for that. So they weren't prepared to sacrifice themselves for the long term. They would rather live in today and spend the money and tomorrow would take care of itself. So manana. What the program does is it gets people to take stock of where they are, enter all of their information and it would come back and give them an outlook of where they could be in the future. If they've got debts like mortgage, cars, personal loans, things like that, all of that

information gets entered exactly the same as it would do in a budget. So, you know, you're not being asked for anything different. But the program goes through all the different algorithms, works out all of the different. works out all of the information month by month. And it turns around and it says, look, if you keep applying what you're currently doing without changing your lifestyle, you can actually have enough money to live longer into retirement.

So you won't be stressed. So people who don't have a plan don't know what's possible. When you do have a plan and it's put in front of you and nothing has been changed in the way of income, then how is it possible that your life can be so different and better? And it's simply because they have a plan. The plan works it all out for them. There's nothing to do.

Just follow the bouncing ball. So what you're saying is that the very fact that you've taken the time to look at all the expenses, what's going in, what's going out, make a budget, basically. But then you're using technology that helps you to basically have that crystal ball into the future so that you can actually live a reasonable lifestyle for way longer. That just seems, I don't know, is it because if you don't have a plan, you're just like randomly spending money and you don't realize it?

What makes that work? What makes it work is just applying. oneself. It is actually just that. The same as you would do with the budget, and I totally just like the word budget, but all the connotations that it brings up. And people feel like failures. If they can't manage a budget, they feel they've already failed. And the difference is that using exactly the same information, the program just automatically works it out. And it has to, because it needs to be that simple. I mean, when I created the program, I tell everybody,

I created the program for women because of women. And so, therefore, it had to be simple to follow. Men will fairly pick up fairly quickly on technology and things like that, but men are not so much into budgeting or managing money. women on the other hand are very what's the word focused I guess on managing money and if they can have help from technology which is simple to follow then they're more likely to apply that and follow the program and if they can see that the outcome at the end is so much better than what they're currently looking at then they're more likely to follow that program If you look at it nowadays, it's like despair. I've got nothing in the account today.

I can't save anything, but the reality is there will become days when there's more money available. And what the program, to a degree, does is inspire people to do better. I keep thinking back about, you know, my own financial life and taking care of kids and all the little things that would come up and how it would have been really great to have this type of a program so that I would at least have had hope that things would get better because I can see now that decisions I made them

because I didn't have a financial plan. If I had made different decisions, making the same amount of money that I did then, I'd be in a much better position today. So tell me about your very first client and how the Money Rules program helped her achieve financial security. I'm really curious to hear that story. So Heather was a lady that I knew,

and I'd met her on a couple of occasions. And I happened to be working, as I did back then at 2 a.m. in the morning, and I found her on Facebook, and I said, what are you doing here? And she said, I'm really worried. We've just upgraded to a people mover for the security of our second child. and so our children are safe in a people mover. But I think I've messed up my budget, and I'm worried that they're going to come and take the car away from us.

And her husband was not, what's the word, nicest person, I guess. He used to drink and smart. Well, yeah, that's one word. So she was really worried about how that would turn out because they'd relied on her doing. the work and I said look don't worry about it I'll come over on Friday and go through it with you so I did I turned up there on the Friday we got hooked into the program online

and she put all of the information in and exactly as she would have done in in using a budget and I said okay now we're going to press the button and so we did and it went from this whole a feeling of despair to one of total elation when I said, this is where you are, this is where you will be, the budget that you've worked out is totally fine, you've got more than enough money, you'll cope. And she was just so relieved, you could almost see it like melting off of the concern just coming off.

And I said, so what we're going to do now is we're going to go through another process with the same information that you've got in there and we're going to see what we can do to refine that and so we did and it turned out that they would have um at age 65 they would have $200,000 available to them for retirement funding and she thought that was just marvelous um because $200,000 was just inconceivable to her on the income that they had and the debts and everything that they were experiencing um the reality is $200,000 wouldn't have lasted a very long time.

if you think a lifestyle of $50,000 a year. You know, there's only four years. So I just left her with that because at that time, that was the most that she could cope with. If you start then talking about financial planning, about investments and things like that, that becomes a bit heavy. So now they've moved from where they were living. They're now living in another state. She's earning a really good income.

She didn't have a job back then because she was looking after. the babies. She's got a fantastic job now. She's back with a husband who's got an even better job than a higher income. They've got their own home and she's very happy they're going to do very, very well. But she would never have felt comfortable if she'd not been able to look into the future. I think that's so interesting because so often people are afraid to look too far into the future. When you're in your 20s and 30s, 65 seems a long ways off. It just seems like, oh, that's so far into the future. But then all of a sudden you wake up one day and there you are.

And, you know, all those years have gone by. And just like you said, if you would have had that plan, you would have known what to do. And I agree with you, it could be very overwhelming. to get hit with all the ways that you can grow your money right at that split second when you've just figured out that you're going to be able to pay for your people mover. So what is a people mover? Is that a van? Yeah.

You're like a family van. Yeah, a family van. Yeah, it was just a bit bigger. I mean, look, I have this. This is my crystal ball. And, I mean, it's just an analogy, if you like, right? But it's looking into the future, and that's what I show people to do. The other thing that you just pointed out as well, which is very important, it is so important to do this, the sooner you start, the younger you are, the better off you will be.

If you wait until you are in dire straits, it's a lot harder to get out. if you're thinking about planning for the future, do it now. If you wait until tomorrow, my saying is if you wait until tomorrow, then today is a lost opportunity. But the reality is if you wait until tomorrow, it's cost you more in interest and lost time. Yes, I see that. And I think, again, it goes back to education, financial education. In the United States, I know that we had very, very limited financial education.

And then if you didn't have family members who were financially literate, you didn't have anybody really telling you. And if nobody ever said, you should talk to somebody about this, then, of course, you don't know what you don't know about that. So you have a woman. who choose about Ray to give up her house. What did you do to help her turn that around? Because right now, there's probably a lot of people, if they have a house,

and right now we're being not so much the mortgages, which are at whatever, 7%, but in like where I live in Florida, it's the insurance, it's the taxes, It's all the added things that are really starting to hurt people. And because we've had so much weather, so many weather-related issues that people who once thought they were set like living in a condo, now all of a sudden all these fees are starting to go up because of storm-related damage and things like that. So I'm curious about the woman who you helped her not have to sell her house. So she got on to me and we went through the same process that I went through with Heather, just entering all the information.

Their problem was they were basically in the same boat. He was working in mines. She was also working as a HR person in the mines. and but there wasn't enough money. The cost of the mortgage and things like that and the cost of living was taking more than what they were earning and it was just desperation, put the house up for sale, we just lose everything we've got.

And the shame of that is that they would lose everything they've got and walk away with nothing. And so I said, okay, well, let's put it all in there. and we pressed a button. And she came back and next morning she said, after I went through the program, I went down and I tore down the for sale sign. We're not selling because now I can see what the future looks like if I apply myself to what the program tells me.

And I mean, the program is based just on current income and expenses. It's not saying go and get more money. it's not saying go and refinance. It's saying just on what you've put in, this is what the program shows. Now, for some people, it may need to go through the review process to say, well, can you change this? Can you change this? Can you change this? Can you modify your behaviours?

You know, for a short while, for a long time, for whatever it takes. How prepared are you to do that? Yeah, I had another lady who was a. six-figure income. And she was very high up in her role and she ended up losing her job. But during her working life, her and her husband had bought 10 properties and because the thing that was being promoted here was buy 10 properties for your rental income in retirement. And so they had done that, they committed to that. So they had these 10 properties that they had mortgaged and they had to pay the mortgages on. When she lost her job, it was like,

oh, she was falling short. She had a coach in New Zealand who said, look, get on to Nobby and go through his program and see what happens. And so we did. She'd been to financial planners. She'd been to accountants. She'd been to mortgage brokers. And they all said, sell one of your properties so that you can get ahead of things. She was so determined she said, I didn't buy the properties to sell them. There must be another answer. And so we went through the process, press the button, and on the 10 properties, we were able to save her 10 years and $2 million.

But she still had to find a little bit more income, and it was about $80 a week. and that was just for their lifestyle because all the mortgages and everything were basically being covered. And I said, so what is it you can do to earn $80 a week? She said, I'll go away and think about it. And a couple of weeks later, I spoke to her. And she said, look, thank you for everything you've done.

I love teaching children piano. I now have eight children that I regularly teach piano. and it's more than covering the $80 a week. We're very comfortable. Thank you. See, that's phenomenal because, I mean, $80 a week, you wouldn't think that that would make such a huge difference, but obviously it can.

You know, like here, I don't know if they have Starbucks in Australia, but here Starbucks is a really famous copy place. and a venti hot chai tea latte is $6.15. So think about that. If you were drinking that one a day, that would be more, you know, five days a week. That would be more than $30 just in one drink a day. And I was thinking about that the other day. I don't drink it every day, but I was once a week.

That's still $25 a month. month that I and I thought to myself, do you really need that? No, it's just a guilty pleasure. But think about it. If I applied that $25 to something else that was making money, it would add up really fast. And I think a lot of people, they never look at those little expenses like the coffee or the tea or, you know, eating out, those little things that you could give up, you don't have to give them all up, but you could give up one or two and probably end up finding a lot of money with that. Absolutely.

So I know that you've traveled to the United States. You live in Australia. You basically your money rules program works around the globe, right? And you can work with people anywhere, correct? Because of the magic of the internet. Yeah. So how do you work with people? Do you work with them one-on-one?

Do you have a course? How do you get your money rules program out to the masses? Okay, so basically the program is online. So it can be accessed 24 hours a day, seven days a week, and it doesn't need me to be there. The beauty of what I've done is I don't want anybody to pay for anything until they know that it's going to work. I mean, if you go online, you'd be familiar.

Here's our program, this is what it does for you, send us some money. well, I'd like to try your program first. No, that's not how we operate. You pay first and then if you don't like it, you can get a refund in 30 days, that type of thing. So I turned that around and I thought, let me show you what's possible without it costing you anything other

than the time it takes to fill out the information. So, and I saw your name pop up on the list this morning. And that's great. I'd love for you to go through it. And in essence, you go in and you fill in all of your information and I'll send you a free report. And that free report, which is at least $1,000 in value, would show you where you are and where you could be.

So in other words, I'll prove to you before you pay for it that this will work for you. and then if you say well that's fantastic that's exactly what i want um there's been no financial pressure on you to commit to it you could walk away at that stage and say okay well that's good um i'll keep going the way that i am but you can do better obviously um and that becomes going into the program uh refining the information and pressing the button again and then just doing that month by month by month by month. And just following exactly what the program tells you to do because the program will tell you which debt to pay off in which order

and how much. So it just makes life so much easier. So, you know, people are more than welcome to hop in and get a free report. Great. Before I let you go, I wanted to ask you about you, you created a, obviously you are constantly refining money rules. to keep up with whatever is going on. You created a brand new retirement module.

Can you just tell me a little bit more about that before I let you go? Sure. So it was all well and good for me to be able to show people how to manage their money so that they could actually save money. But the reality is for most people, that money will in general last somewhere between four to nine years after retirement. And so in the new retirement, retirement module, I can actually show you what you need to do to make your money last to at least

age 100 or more. It's not hard stuff. And it's stuff that financial planners would talk to you about, but would go over the head of most people because they don't deal with it every day. But putting this information in the hands of the user and saying, see that area there. If you change that to that, let's have a look at what the difference is. And it's like, oh, that's like magic, I can do that. And that's the important thing. It's putting the onus back on the user. So when you say putting the onus back on the user,

your meaning it puts it back to the person using the program or wanting to know the retirement so that they're taking more responsibility for themselves and their life. Yeah. One of the biggest things that I find, Tammy, is that accountability. People will do a lot of things, they'll say a lot of things,

they'll be very excited in the beginning, and then you'll find that they'll drop off. So keeping them engaged and accountable is an important thing to do. And the beauty there is that I've worked the program so that even though people pay for the program, the more people they tell, they can actually end up getting their program for nothing.

That's fabulous. So, Nabi, what is the best way to reach you? What is your website? So the website will be wwwWWMoney Rules, Rul-E-S dot com.a-U. Okay, so moneyrules.com. So that dot-A-U is important because that's an Australian website. And Nabi, before I let you go, is there anything you'd like to add? Look, I would just like to see a lot more women participating in the program because

their financial future independence depends on it. As I said, it's not going to cost them anything in the beginning to get in. So they may as well do it just to have a look. And if it gets their interest, then they can buy the program and eventually get it for nothing if that's what they want. And this can work in groups of churches or employers or, you know, sporting groups or anything like that. So it's an important thing. If people want to live in poverty, do nothing because that's what's going to happen. If you want to secure your own future, you've got to do something about it. And it's the old saying, if it is to be, it is up to me. Wow. Well, thank you so much, Nabi. Everyone, go to

moneyrules.com. Dot A.U. And you can go find Nabi on Facebook or LinkedIn or probably any social media, but I know he's on Facebook for sure and follow him. And definitely go take advantage of at least taking a look. That's why I signed up because I was like, okay, well, what do I have to lose?

I can find out where I am and just maybe, you know, there is hope because I think we all, again, money is a topic that we need to talk about it. We need to allow ourselves to not be afraid of really looking at that nitty gritty and stop being afraid and stop going to that worst case scenario like, oh, I'm going to have to sell my house. when in fact, no, you don't have to give up your home or I have to sell all my investments. When in fact, if you just stop and like Navi says, you have a plan, then you can really, you know, open your eyes to a whole new life. So moneyrules.com.com.com.a U. Navi Kleinman, thank you so much. Thank you, Tamara. It's been lovely seeing you again. Thank you. Everyone, this is Dr. Tammy Patser, don't make it a beautiful day.

Thanks for listening to Business Innovators Radio. To hear all episodes featuring leading industry influencers and trendsetters, visit us online at businessinnovators.com today.