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Today is all about me, Michael Schulte, and what makes me tick. What is my background? Who influenced me? What frustrates me? Let’s have some fun pulling back the curtain on my thoughts, dreams and influences.

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Show Notes For This Episode

On this episode of Saving the American Dream, we’re talking all about what drives your advisor, Michael Schulte. We want to share what and who has influenced him through his career and what is most frustrating.

Influencers and lessons

It’s very cliché, but Michael’s parents have influenced him the most when it came to money as a child. They were pretty intentional with money. He remembers going to open a savings account at the bank when he was 8. Throughout that childhood, Michael was definitely a saver.

As you’ll hear, his father provided a great financial life for all the children. He grew up in poverty as one of 10 kids, so he worked all the time to make up for it. He came from nothing and managed to have a great career in landscaping and construction. He never complained and loved working.

That’s why Michael is willing and eager to do what he his father has done.

The financial business

Michael grew up in Vegas and graduated in high school in 2008. His passion early on was for playing baseball but he knew that it wasn’t something he’d be able to do professionally.

He spent a lot of time between ages 18 and 20 trying to figure out what he wanted to do. This was around the time when the Great Recession happened. While he was always good with math and statistics, he also became very interested in learning about what caused the Great Recession.

The combination of being good at math and liking finances, it kind of became natural to major in finances. He did, and he loved it. It’s even in the family as his uncle and cousin were financial advisors, which led him to pursue that kind of job.

Current influencers

It’s critical to have super, high-quality mentors and we’ve been blessed to spend time around a lot of great people who have helped so much. Even before getting into the financial industry, Michael had some really good mentors who helped him transition from a goofy kid to a young man.

Biggest frustration with clients

The biggest frustration we have with how people handle retirement is the savings rate. The rate that people save money is almost always not as high as it should be. If everyone could be a 20% saver systematically and consistently, that would solve so many problems. If you’re able to do that, you can take life into your own hands.

Listen to the full podcast or use the timestamps below to jump to a specific section.


Navigating the Show

[1:05] – Influencers and lessons

[4:00] – The financial business

[9:01] – Current influencers

[12:33] – Biggest frustration

[14:46] – Gratifying part of his job

[16:26] – Mailbag questions


The combination of being good at math and liking finances, it kind of became natural that I was going to major in finances. I did, and I loved it.

– Michael Schulte