133. Put Your Money Where Your Life Is: The Power Of Local Economies / Michael Shuman

In Conversation with Nathalie Nahai

Today I’m in conversation with Michael Shuman - an economist, attorney, author, and entrepreneur, and a leading visionary on community economics.

The Director of Local Economy Programs for Neighborhood Associates Corporation, and an Adjunct Professor at Bard Business School in New York City, Michael is also a Senior Researcher for Council Fire and Local Analytics, where he has performed economic-development analyses for states, local governments, and businesses around North America.

Credited with being one of the architects of the 2012 JOBS Act and dozens of state laws overhauling securities regulation of crowdfunding, Michael has authored, coauthored and edited many books, of which the three most recent are Put Your Money Where Your Life Is: How to Invest Locally Using Solo 401ks and Self-Directed IRAs; The Local Economy Solution: How Innovative, Self-Financing Pollinator Enterprises Can Grow Jobs and Prosperity; and Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street. One of his previous books, The Small Mart Revolution: How Local Businesses Are Beating the Global Competition, received a bronze prize from the Independent Publishers Association for best business book of 2006.

A prolific speaker, Shuman has given an average of more than one invited talk per week, mostly to local governments and universities, for the past 30 years in nearly every U.S. state and more than a dozen countries.

I had the joy of meeting Michael at the Planet Local Summit, and was so captivated by his passion and practical approach to transforming local economies and livelihoods, that I had to invite him onto the show.

KEY THEMES

• Investing in local economies is crucial for economic development and social equality.
• Education and relationship building are key to promoting local finance models.
• Creating local investment opportunities through websites, newsletters, and funds can encourage grassroots investors.
• Pre-purchasing and tax incentives can be effective strategies to support local businesses and investment.
• Community involvement and care can transform unpopular projects into thriving spaces.
• Innovations in local finance, such as investment co-ops and community pension funds, can support local economies.
• The future of humanity is uncertain, but focusing on local action and sharing innovative solutions can make a positive impact.
• Finding beauty, hope, and humor in life can help navigate challenging times.
• Reflecting on the impact of our money and redirecting it towards projects and businesses we care about can create positive change.

WEBSITES

• https://michaelhshuman.com/
• https://www.themainstreetjournal.org/
• http://www.telesiscorp.com/

BOOKS

• https://michaelhshuman.com/store/