The best part about hosting a podcast is the people you meet. Every now and then, you sit down with someone who’s just packed with life experience, and Steve Selengut, “The Income Coach,” is one of those guys. He’s been around the block—about 50 times—working in finance for decades and, instead of calling it quits after selling his business, he jumped into income coaching. Our chat wasn’t just about investments, though. It was about knowing when to pivot, how to keep going when most people would retire, and why building income is the only game that really matters.
Steve’s been managing investments for over 50 years, and at 77, when most people are hanging up their hats, he’s still finding ways to help people secure their financial futures. He’s not flashy or full of big, grand promises. He’s a down-to-earth guy who’s seen it all and figured out how to navigate the chaos. He’s not about chasing stock prices; he’s about steady, reliable income. If there’s one thing to learn from him, it’s this: no matter where you are in life, there’s always a way to build something solid.
It’s Never Too Late to Make a Change
Steve made a major pivot at 77, selling his business and moving into income coaching. I was curious why someone would even want to take on something new at that point in life, and his answer was simple: the right offer came along, and it just made sense. He didn’t see it as the end of one chapter but the beginning of another. He got six years’ worth of income from selling his business, and instead of kicking back, he dove into coaching, helping people figure out how to generate income.
“I got an offer I couldn’t refuse,” Steve said. “My business was bought up for six years’ worth of income, and at my age, that was a good deal.” It wasn’t the end for him, though. Instead of packing it in, he decided to share his hard-earned knowledge with others. His story is a reminder that it’s never too late to make a change or try something new.
Key Takeaways from Our Discussion:
- Age doesn’t limit your opportunities: Steve’s pivot at 77 shows that it’s never too late to start something new if you’re passionate about it.
- Seize opportunities when they come: He didn’t have to keep working, but the opportunity to sell his business allowed him to transition into something he loved even more.
- Stay engaged with what drives you: For Steve, the excitement of helping people secure their financial future was worth staying in the game.
Focus on Income, Not Just Growing Wealth
Steve’s take on investments isn’t what you’d typically hear. While most people focus on growing their wealth through stock prices and market gains, Steve has one clear goal: build income. He doesn’t worry about market value going up and down. Instead, he’s all about creating a steady income stream that can carry you through the tough times.
“You’re not just buying stocks,” Steve explained. “You’re buying a business, and that business should be paying you to own it.” That’s his approach—invest in income-generating assets and stop stressing about whether the stock price is up or down on any given day. It’s a method that works, and it’s something most people overlook in their race for quick gains.
What I Learned from His Experience:
- Income is king: Building a steady stream of income is more important than chasing the next hot stock.
- Invest in real businesses: You’re not just buying a piece of paper; you’re buying part of a company that should be rewarding you for your investment.
- Think long-term: Steve’s strategy isn’t about quick wins. It’s about building something stable that lasts.
Reflections from the Interview
What really stuck with me from our conversation was Steve’s mindset. He’s not one to follow trends or get swept up in what everyone else is doing. He’s carved his own path, and it’s worked. The same applies to life in general. Whether you’re building a business or trying to grow your investments, you need a solid foundation, a clear plan, and the guts to stick with it when things get tough.
“Confidence is key. You can’t second-guess yourself. I never read another financial book after I started doing this. I stuck to what worked for me.” That’s something we can all learn from. Don’t let outside noise distract you from what you know works.
Here’s What I’m Taking Away:
- Trust your process: Steve didn’t get swayed by new methods or trends; he stuck to his approach because he knew it worked.
- Self-confidence is essential: If you don’t believe in your plan, nobody else will.
- It’s okay to ignore the noise: Steve’s success came from focusing on his own strategy, not what everyone else was doing.
- Discipline beats luck: Success isn’t about luck; it’s about having the discipline to follow through on a solid plan.
- Never stop learning: Even after decades in the business, Steve’s always looking for ways to adapt and improve.
Final Thoughts
Steve Selengut is proof that you don’t have to follow the crowd to be successful. He’s built his life on a foundation of steady income and smart investments, not flashy wins or risky bets. His story is a reminder that no matter where you are in life, there’s always an opportunity to build something that lasts. Whether you’re in your 20s, 40s, or 70s, it’s never too late to take control of your financial future and create something meaningful.
CONNECT WITH STEVE SELENGUT
Website: https://theincomecoach.net/
LinkedIn: https://www.linkedin.com/in/privateinvestmentmanagement/