January 30, 2024 • 24 mins
Discover financial magnificence beyond the limits of a salaried job in our latest episode of the "Financial Mirror". Here we highlight how the comfort of a regular paycheck may be holding you back from exploring potentially wealthier opportunities. Inspired by Kevin O'Leary's provocative quote on a salary being a 'forgotten dream' drug, we invite you to challenge this normative comfort zone.
In this compelling episode, we examine the trade-offs between preserving income stability and yielding to entrepreneurial passions with the potential for monumental financial growth. The discussion underscores the significance of channeling your unique skills and interests into a business while maintaining your current job, and doing it with a business instead of the hobbyist mindset.
Explore the possibilities of investing in venues like the stock and real estate markets, and learn why it's important to keep an eye on your financial investments for high returns. Alongside this, listeners are encouraged to delve into their side hustles, capitalizing on what they enjoy outside their routine work and potentially monetizing.
This episode further emphasizes the importance of self-education in the digital age, directing you towards online platforms for acquiring knowledge in areas that inspire you. Hear an uplifting success story of profiting from an unusual winterizing sprinkler systems business while being nudged to step beyond your regular job and extend your financial boundaries.
This powerful episode stimulates thought by challenging you to uncover 'what else' you can be to chart your course towards a prosperous financial future beyond the conventional 9-to-5.
Subscribe to the channel for more empowering content on personal finance, investing, and self-improvement. Don't miss out on the opportunity to unlock your true financial potential and live a life of abundance. It's time to invest in yourself and create the future you deserve!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Welcome to the Financial Mirror and today we are diving into something that
is unconventional and challenges the status quo.
Today we're tackling a topic that might just change how you see your job and your financial future.
Have you ever felt like your nine-to-five job is a safe choice but perhaps not
the most financially rewarding one?
(00:21):
What if there were ways to step outside of your comfort zone and explore past
a wealth that go beyond the traditional paycheck?
This episode today is going to set out to provide you a new look at where you
are today and think about what else may be out there.
Whether you're dreaming of financial independence or just curious about what
(00:43):
lies beyond the office doors, this episode is for you.
Let's dive in today and discover if a regular job is really the only way to
financial success. Let's dive in.
Welcome to the Financial Mirror, where future success is reflected in our knowledge
of fixing the one thing we can control ourselves.
(01:08):
Welcome to the Financial Mirror and thanks for joining me today as we continue
to work to improve the one thing that we can control ourselves.
Here at the Financial Mirror, it is not about the numbers and spreadsheets alone,
but about transforming and educating you on money so that you can make smart financial decisions.
If this is the first time you are joining in, don't forget to hit subscribe
(01:30):
on YouTube to be notified of all the new episodes as they release.
If you are listening to this on a podcast platform of your choice,
don't forget to like and subscribe to the podcast.
If you're on Apple Podcasts or Spotify, leave a five-star review and a written
comment as both go a long way in getting this information out to more and more listeners.
(01:52):
So this is going to be an interesting episode, and I am going to jump right
in because it's kind of an opinionated episode.
There's nothing in this episode that's like hard fact.
What I wanted to do is I saw this article, and it kind of sparked my eye, and I'll tell you why.
But we're going to kind of talk through it. It is out there.
(02:14):
It does challenge the status quo.
It is unconventional. it is it is something truly to think about though right
because inside of every like,
crazy crazy statement that's out there there may
be a hint of truth that you can apply
to your life so that's kind of what i when i was reading through this i was
like man while this is this is out there is there is there a way that we can
(02:39):
think through this kind of think about it and see if there's somewhere you can
apply it to your life so my wife has been on this like like shark tank spree, right?
Like every time I walk through the house, all I hear is Mark Cuban saying,
you know, I'm out and you got, you got Barbara and she's always having a problem.
(03:00):
And Mr. Wonderful challenges every single thing. And Damon, you know, he does his thing.
It's, it's, I hear it. I hear it day in and day out for the past few weeks.
She has been on a shark tank spree. So thinking through that,
I saw this article and Mr.
Wonderful, Kevin O'Leary, he made a statement.
(03:21):
And in that statement is, it was something profound that I said,
you know, this is something that I kind of want to talk about because while it's, while it's crazy,
while it's out there, well, I'm not going to say it's crazy while it's out there,
it's, is there a hint of truth to it? Is there kind of a hint of truth to it?
(03:43):
And the statement was, a salary is a drug.
They give you when they want you to forget about your dreams.
Let's, you know, and that's kind of a big thing, right?
Like he, you know, Kevin O'Leary is a big, big name, made his fortune by selling this software company.
(04:04):
He'd been on Shark Tank. He's, you know, very, very, you know,
has a ton of wealth building, you know, ventures out there.
But he by speaking through
that and then I'll say it again a salary is a drug they give
you when they want you to forget about your dreams right and he talks about
how he suggests that a regular salary can limit one's financial and personal
(04:29):
growth and and so at face value you're like man that's nuts.
How does this nine to five, how does that take away from what it is that I'm going after?
If I'm trying to build wealth, if I'm trying to continue to put into retirement,
(04:50):
if I'm trying to pay off my home, if I'm trying to fund my kid's retirement,
if I'm trying to get get out of debt.
Like a steady job is crucial, right? It's crucial.
But is it like a drug, right?
Is it something that an organization gives you to keep you happy?
Is it comfortable, right? And I kind of wanted to talk through that and just
(05:14):
discuss it, just discuss it,
because I wanted to analyze kind of that belief that a salary can be a comfort
zone and is potentially potentially hindering you to pursue maybe something
that you really want to do, right?
Or something that is going to pay more to you financially, right?
And I don't want to just say that this is, well, if you love what you do,
(05:37):
then you'll never work a day in your life. Like baloney, right? Baloney.
No matter how much you love what you do, you're going to have bad days at work, right? And.
If I'm honest, I can't think of anything,
and I tell people this a lot actually, is that your job, your income,
is just what helps you fund the things you actually enjoy.
(06:03):
Because if I'm honest, I can't think of anything. I'm pretty sure you could
turn anything into a money-making venture, but for a majority of the population,
what they enjoy doing, it is difficult to make money doing it, right?
Like I enjoy playing golf, but I am not good enough to go and play at the PGA, right?
(06:27):
Like I'm not, I can't play on the tour. I'm not that good.
It would cost me tons of money to try to get as good as it would take for me
to make money doing it. You see what I'm saying? Like there is a trade off here.
So what I want, what I wanted this episode to do is kind of challenge you,
challenge you to think a little bit deeper into what it is that you're doing.
(06:47):
And is that, is that salary? Is that traditional job?
Is that actually keeping you from something else that could be your breakthrough, right?
Could be something that you actually want to go out and, and we'll pay,
you pay dividends, right?
Like it will make you money, but kind of like looking at that.
So is the security of a regular paycheck worth sacrificing potential like entrepreneurial success?
(07:16):
Well, if you think about that, I, I, I tell people all the time when you're
getting out of debt, figure out how you can make money.
Maybe that, that means like side hustles. Maybe that means like all these other
things, but, but what if you're not, what if you're not in like desperate desperate need for money?
What if you're not in this dire need to just gain as much money as you can and
(07:38):
you have a little bit of time and you can start something up, right?
What if that is the next step for you? I kind of want you to think about that,
that entrepreneurial success, that entrepreneurship.
Is there something that could make you money, but you're so driven to go to
this nine to five job, go to this W2 employer,
(08:00):
and it's keeping you from doing those other things that you enjoy that could make you money, right?
That's a big deal. That's a big deal. and it's something that you have to truly
think about because I'm not telling you that you're going to start this venture
and you're going to kick off this business and you love to make trinkets and
(08:22):
you're going to sell your trinkets and you're going to be a millionaire in three months.
That's not what I'm saying. But what I am saying is if you enjoy making trinkets
and you can sell them, like people are after those, start making trinkets,
sell one a month, month, right?
Eventually it'll go to four a month. Eventually it'll go to six a month.
If people have a desire to buy them, then it will sell.
(08:46):
You've just got to market it. You've just got to put it out there.
But is that nine to five job keeping you from doing that?
And so I think that's where Kevin's kind of onto something. Mr.
Wonderful is actually wonderful about this, is he's challenging kind of that thought, right?
He's kind of challenging that thought and that stability, stability,
that steadiness of that job, does it put you in this rat race mentality, right?
(09:11):
I wake up, I get ready, I go to work, I come home, I play with the kids,
I get food ready, I clean the house up a little bit, I go to bed,
I wake up, I get ready, I go to work. Is it putting you in that mentality?
Because that could be keeping you from kind of taking on some of these other ventures.
So is that security of that regular paycheck paycheck worth sacrificing some
(09:34):
of the other areas of your life that you could add success to.
So I think that that's kind of a...
A a challenging thought i think that that's
a challenging thought and and it's interesting to
me because when when i i
you know in passing and i've sat down and watched some of the episodes with
shark tank i i used to enjoy watching shark tank and i've
(09:57):
sat down with with my wife and we've watched some of
the episodes and a lot of the episodes are
people that are doing just this and it kind of made me
start to connect those things did mr wonderful did he come out
with this statement because he has seen so many
people actually kind of do
this that that they're like day in and day out job is
(10:19):
is kind of preventing them from from some of the things that they've brought
to shark tank and they've gotten investors from and that they've you know turned
into a killing i think that's something that we have to think about because
he's been there and there's There's one time where there's not,
not one time is one instance,
but there's a time in the episodes where someone will say, well,
(10:41):
I'm still, I'm not fully like committed to this, right?
Like there's, there's this great idea, this transformational thing, service, whatever.
And I'm still working my nine to five and they'll ask, they'll say,
well, who's running this business?
Well, I'm doing it on the side. And they have, they have, they challenge,
they, they, they, they, they struggle with that.
(11:03):
That because they don't want to get involved with a business that this person's
not fully committed to, right?
They've come to Shark Tank. I'm not telling you, if you sell trinkets and you're
selling three a month, you got a minute before you get to Shark Tank, okay?
But that doesn't mean don't start, right? That doesn't mean don't start.
(11:25):
So I kind of wanted to think through some of the different areas that maybe
it is that you just have this product that you you make every time you come
around your your friends or your family is saying well.
Hey, did you make any more of those oven mitts? Did you make any more trinkets?
Did you, Hey, have you made any more of those? You know, like I'm thinking like
(11:48):
carpenter, like wood items, like tables, like chairs, like just throwing out ideas here. Right.
Have you made any more of those? Like that was really cool bar stools that you made.
And I saw, I saw you post on your Instagram and your living room.
Do you make those? Like, those are really nice.
Those are the type of things. And those are just a bunch of random examples,
but those are the type of things.
Things if you have a gift and you're
(12:11):
not going after it and you're not making money doing it but you
could i just i think that mr wonderful's
idea here is true as crazy
as it is i think it's true that you're like that like that could be your breakthrough
right that could be your the spot that you you really break out if you just
(12:31):
get started right if you just start if you just start selling whatever that thing is.
If you just move in that direction, there may be some legitimacy to what he's talking about here.
That nine to five could be kind of putting you in that comfort zone.
That steady job could be killing a bigger dream that you have, right?
(12:54):
Something that you think about and you're like, man, I wish I could do this.
And I'll talk about this, but But the financial mirror started just kind of on a whim, right?
Like it was kind of like I had this deep desire talking to my wife and I was
like, I want to help people and I want to help people with their finances.
I see people struggling. I hear people struggling.
(13:16):
I want to help people. I want to like people come to me. They ask me for advice.
They ask me for opinions. They want to know like, what do I think about this?
And I'm freely giving that information, right? Like I want to freely give that
because there's nothing more satisfying to me than to watch someone's life completely
become completely transformed by starting to make some of those very pivotal financial decisions.
(13:42):
So that's kind of how it all started. That's how this whole thing started.
And, and I think back and I try to apply that, like, like if,
if I wouldn't have been in a position to be able to kind of take that first step,
would I have been in that, in in that, in that realm where I'm like, well,
the nine to five is just, it's kind of taken away the energy that I really,
(14:04):
I really get a lot out of watching people be successful with money to be good
stewards of their money with that job, with that steadiness, with that consistency,
with that reliance on that paycheck,
would that have kept me from doing what I'm doing today?
And, and, and, you know, and, and that's, that was the breakthrough.
(14:25):
That was the, the light bulb moment for me. reading Mr. Wonderful's article.
I challenge you. I challenge you. I challenge you to think about yourself.
Think about something that you may want to do.
Maybe it, maybe you want to, you want to kick off a business and there's like,
there's something that you're great at.
(14:47):
Everybody wants it. You're not getting, you're not, you're not providing the
world that service or that product, right?
You're great at it though. You love doing it.
You love doing it. Maybe that's, maybe that's something. thing.
Take the first step, write it down, figure it out. How can you do this and continue to work your job?
What I'm not saying at any point in this episode is quit your job.
(15:09):
That's not what I'm saying.
What I'm saying is think about how you can balance your life to still go after
that, because one day that could replace your job, depending on the type of effort,
the type of return on that investment that you put into that business.
And you have to look at it as a business. If you continue to look at it as a
hobby, it'll never prosper.
(15:32):
But I do want to also kind of touch on some other avenues that you can do,
and they don't have to be through the idea of selling services or products.
The number one thing that I can tell you is that a lot of people lose track
of setting aside time to ensure that they are maintaining a good investment portfolio.
(15:56):
There is a, while I'm not telling you to be an active trader,
unless that's something you're into and you, you know, you're,
you're researched on it and you're educated around it.
I'm not telling you to do that. But what I am telling you to do is to be on top of it, right?
To stay informed, to work with someone that can help you through your investments,
to make sure that they're, that you're getting the returns that you need,
(16:18):
but staying on top of that and not letting to be a byproduct of whatever, right?
Not getting so caught up in your nine to five that that's not a thing.
Maybe real estate's your thing, right? And I've touched on multiple episodes
around real estate and how I've done interviews around house hacking.
I've done interviews with how you can be benefited. I've talked about rental
(16:40):
properties that I own and things like that.
And that is something that also may be, if you are out of debt,
maybe something you want to start researching and and working on, right?
Because step one is just educating yourself.
Find out if there's something that you really enjoy and you want to get involved
in, educate yourself, get wrapped up in it, start getting involved,
(17:03):
learn about it, and then go after it.
That'll help you get the money together. That'll help you get all the capital
together you need to get started with real estate.
But if that's something that you want to get into, that's something you should do.
Real estate has has its own set of challenges and understanding that the real
estate market is changing currently and it's always changing.
(17:25):
But what I want you to think about is that there is financial opportunity,
there is financial growth that happens inside that market.
There is financial opportunity and financial growth that happens inside the stock market.
And that's just two areas that you could get involved in and start educating
yourself around and not be so caught up in just your or nine to five,
(17:46):
just that steadiness, just that rat race.
What are other areas that you can start to build wealth in and go after those?
And then the last one I've kind of talked through, I've kind of discussed,
but side hustles come in all shapes and sizes.
I've talked about selling things. Maybe it's a service that you provide,
like the financial mirror is a service.
(18:07):
There's not much of a product there. There's products that we create kind of
to help you and guide you and and keep you on track from, from your financial perspective,
uh, whether that be, you know, plans to get out of debt or, or putting together
budgeting products and things like that. But most, mostly it's a service, right?
Mostly it's a service, but that's something that, that maybe you,
(18:28):
that there's something in that nature that you're enjoying.
Maybe it's finances, maybe it's health. Maybe you want to just go be a,
like a personal fitness coach.
Like, I don't know what it is. I don't know what it is that you bring to the table.
But there is always something. There's always something that you can do because
there's something you enjoy that you're not making money doing,
(18:49):
but there's a good opportunity that you may be able to do that. Think hard about that.
The other thing that I did want to kind of talk about when it comes to the side
hustles and gig economy type of thing is that we are in a time where educating
yourself about things is becoming much, much easier,
whether it be like a Coursera or a Udemy or something of that nature,
(19:13):
there is opportunity for you to educate yourself.
YouTube is free, things like that. It is becoming so much easier to educate
yourself about the things that you enjoy.
You can become great by educating yourself about something very specific.
(19:34):
This isn't like, you know, college classes that, you know, you need to show
up and do this. Like Like you can do it at your own pace.
There's things out there where from learning how to code to learning how to,
you know, go out and build things,
learn how to work on a car or like you can go and learn how to do something
and make a business out of it.
(19:57):
You can, you can. And I did want to end on one like little, little cool success story.
And I thought it was just the coolest thing. So we when we last summer,
when our we had just come out of the winter season and we return our sprinkler
system on one of the sprinkler heads blue,
(20:17):
right? Like it kind of it kind of died on us.
I'm not a professional, so I hired a professional, right? And I was talking
to the guy and he was like, yeah, like I'm I really if you I don't know if everyone
has a sprinkler system or if you don't, but, you know, you kind of winterize it.
They blow all the water out to keep it from freezing, things like that at the
end of when your cold season is starting to come in.
(20:40):
So when that happened –,
And he saw an opportunity. He's like, I was cutting grass, I was doing all these
things all summer, and then I was winterizing sprinkler systems, blowing them out.
And he told me, he was like, but now I don't even have to cut grass in the summer.
I made such a business marketing myself that I make enough money to live the
(21:02):
whole year in those like three months of blowing out sprinkler systems by winterizing sprinkler systems.
And I was like, that is nuts.
That's nuts. But he took a chance on himself. He invested in himself and now
he's prospering, right? Now he's doing great.
(21:22):
So I just challenge you to kind of think about that. that. Think about areas
in your life that you could do that, that you could go out and take on something
else that may just replace your nine to five.
And maybe Mr. Wonderful isn't so crazy, right? So take this as a challenge.
Take this as a challenge to think about yourself.
(21:43):
Take this as a challenge to think about some of the things you want to do and
how can you incorporate those in your life and potentially make a little cash along the way.
Now, we all know that takes capital. It It all takes finances.
And if you need a little help getting your finances under control,
that you can start down that path, whether it be getting out of debt,
saving up for one of these projects, whatever
the case is, head over to thefinancialmirror.org and hit book now.
(22:06):
Schedule a free consultation with me and we can go through and work out what
plan is best for you so that we can get you on the path toward whatever that financial goal is.
If you do want to give an extra dose of support to the stream,
head over to thefinancialmirror.org Workforce has shop and pick you up some
awesome financial mirror gear. All the money goes right back into the stream.
(22:27):
I hope everyone got something out of this episode. I thought it was an interesting
article. I thought it was something that'd be great to talk about.
I appreciate everyone tuning in.
Don't forget to subscribe, like, comment, and share this episode and all the
other Financial Mirror episodes that you are utilizing to help you improve your financial situation.
And if you are a listener on a podcast platform of your choice,
(22:49):
don't forget to subscribe and leave a five-star review and a written comment
as both go a long way in getting this information out to more listeners.
Like I said, I hope you got something out of this episode. I hope it's impactful for you.
It was not meant to be a direct stab at your job.
Keep going after it. That money is the tool that you need to build wealth.
(23:13):
The challenge here today is to think about what else and answer that question.
What else? what else could I do to build my wealth what else can I do to turn this passion,
into an income what else and that's the question that I'll leave you with what
else what else can you do and when you figure that out it will it will change
(23:36):
your life so use this article as kind of as kind of a opportunity to to really
Really reflect on what else you can do.
Go after it. Get after it and change your financial future.
Till next week, continue improving the one thing you can control yourself. Peace.
(23:56):
Well, that wraps up today's Financial Mirror.
Join us next week as we continue to work on ourselves, change our mentality,
and to commit to achieving the success we always envisioned.
Regardless of your platform, help us grow as a community.
Please like, subscribe, and share with the people in your lives.
Welcome to the Financial Mirror and today we are diving into something that
is unconventional and challenges the status quo.
Today we're tackling a topic that might just change how you see your job and your financial future.
Have you ever felt like your nine-to-five job is a safe choice but perhaps not
the most financially rewarding one?
(00:21):
What if there were ways to step outside of your comfort zone and explore past
a wealth that go beyond the traditional paycheck?
This episode today is going to set out to provide you a new look at where you
are today and think about what else may be out there.
Whether you're dreaming of financial independence or just curious about what
(00:43):
lies beyond the office doors, this episode is for you.
Let's dive in today and discover if a regular job is really the only way to
financial success. Let's dive in.
Welcome to the Financial Mirror, where future success is reflected in our knowledge
of fixing the one thing we can control ourselves.
(01:08):
Welcome to the Financial Mirror and thanks for joining me today as we continue
to work to improve the one thing that we can control ourselves.
Here at the Financial Mirror, it is not about the numbers and spreadsheets alone,
but about transforming and educating you on money so that you can make smart financial decisions.
If this is the first time you are joining in, don't forget to hit subscribe
(01:30):
on YouTube to be notified of all the new episodes as they release.
If you are listening to this on a podcast platform of your choice,
don't forget to like and subscribe to the podcast.
If you're on Apple Podcasts or Spotify, leave a five-star review and a written
comment as both go a long way in getting this information out to more and more listeners.
(01:52):
So this is going to be an interesting episode, and I am going to jump right
in because it's kind of an opinionated episode.
There's nothing in this episode that's like hard fact.
What I wanted to do is I saw this article, and it kind of sparked my eye, and I'll tell you why.
But we're going to kind of talk through it. It is out there.
(02:14):
It does challenge the status quo.
It is unconventional. it is it is something truly to think about though right
because inside of every like,
crazy crazy statement that's out there there may
be a hint of truth that you can apply
to your life so that's kind of what i when i was reading through this i was
like man while this is this is out there is there is there a way that we can
(02:39):
think through this kind of think about it and see if there's somewhere you can
apply it to your life so my wife has been on this like like shark tank spree, right?
Like every time I walk through the house, all I hear is Mark Cuban saying,
you know, I'm out and you got, you got Barbara and she's always having a problem.
(03:00):
And Mr. Wonderful challenges every single thing. And Damon, you know, he does his thing.
It's, it's, I hear it. I hear it day in and day out for the past few weeks.
She has been on a shark tank spree. So thinking through that,
I saw this article and Mr.
Wonderful, Kevin O'Leary, he made a statement.
(03:21):
And in that statement is, it was something profound that I said,
you know, this is something that I kind of want to talk about because while it's, while it's crazy,
while it's out there, well, I'm not going to say it's crazy while it's out there,
it's, is there a hint of truth to it? Is there kind of a hint of truth to it?
(03:43):
And the statement was, a salary is a drug.
They give you when they want you to forget about your dreams.
Let's, you know, and that's kind of a big thing, right?
Like he, you know, Kevin O'Leary is a big, big name, made his fortune by selling this software company.
(04:04):
He'd been on Shark Tank. He's, you know, very, very, you know,
has a ton of wealth building, you know, ventures out there.
But he by speaking through
that and then I'll say it again a salary is a drug they give
you when they want you to forget about your dreams right and he talks about
how he suggests that a regular salary can limit one's financial and personal
(04:29):
growth and and so at face value you're like man that's nuts.
How does this nine to five, how does that take away from what it is that I'm going after?
If I'm trying to build wealth, if I'm trying to continue to put into retirement,
(04:50):
if I'm trying to pay off my home, if I'm trying to fund my kid's retirement,
if I'm trying to get get out of debt.
Like a steady job is crucial, right? It's crucial.
But is it like a drug, right?
Is it something that an organization gives you to keep you happy?
Is it comfortable, right? And I kind of wanted to talk through that and just
(05:14):
discuss it, just discuss it,
because I wanted to analyze kind of that belief that a salary can be a comfort
zone and is potentially potentially hindering you to pursue maybe something
that you really want to do, right?
Or something that is going to pay more to you financially, right?
And I don't want to just say that this is, well, if you love what you do,
(05:37):
then you'll never work a day in your life. Like baloney, right? Baloney.
No matter how much you love what you do, you're going to have bad days at work, right? And.
If I'm honest, I can't think of anything,
and I tell people this a lot actually, is that your job, your income,
is just what helps you fund the things you actually enjoy.
(06:03):
Because if I'm honest, I can't think of anything. I'm pretty sure you could
turn anything into a money-making venture, but for a majority of the population,
what they enjoy doing, it is difficult to make money doing it, right?
Like I enjoy playing golf, but I am not good enough to go and play at the PGA, right?
(06:27):
Like I'm not, I can't play on the tour. I'm not that good.
It would cost me tons of money to try to get as good as it would take for me
to make money doing it. You see what I'm saying? Like there is a trade off here.
So what I want, what I wanted this episode to do is kind of challenge you,
challenge you to think a little bit deeper into what it is that you're doing.
(06:47):
And is that, is that salary? Is that traditional job?
Is that actually keeping you from something else that could be your breakthrough, right?
Could be something that you actually want to go out and, and we'll pay,
you pay dividends, right?
Like it will make you money, but kind of like looking at that.
So is the security of a regular paycheck worth sacrificing potential like entrepreneurial success?
(07:16):
Well, if you think about that, I, I, I tell people all the time when you're
getting out of debt, figure out how you can make money.
Maybe that, that means like side hustles. Maybe that means like all these other
things, but, but what if you're not, what if you're not in like desperate desperate need for money?
What if you're not in this dire need to just gain as much money as you can and
(07:38):
you have a little bit of time and you can start something up, right?
What if that is the next step for you? I kind of want you to think about that,
that entrepreneurial success, that entrepreneurship.
Is there something that could make you money, but you're so driven to go to
this nine to five job, go to this W2 employer,
(08:00):
and it's keeping you from doing those other things that you enjoy that could make you money, right?
That's a big deal. That's a big deal. and it's something that you have to truly
think about because I'm not telling you that you're going to start this venture
and you're going to kick off this business and you love to make trinkets and
(08:22):
you're going to sell your trinkets and you're going to be a millionaire in three months.
That's not what I'm saying. But what I am saying is if you enjoy making trinkets
and you can sell them, like people are after those, start making trinkets,
sell one a month, month, right?
Eventually it'll go to four a month. Eventually it'll go to six a month.
If people have a desire to buy them, then it will sell.
(08:46):
You've just got to market it. You've just got to put it out there.
But is that nine to five job keeping you from doing that?
And so I think that's where Kevin's kind of onto something. Mr.
Wonderful is actually wonderful about this, is he's challenging kind of that thought, right?
He's kind of challenging that thought and that stability, stability,
that steadiness of that job, does it put you in this rat race mentality, right?
(09:11):
I wake up, I get ready, I go to work, I come home, I play with the kids,
I get food ready, I clean the house up a little bit, I go to bed,
I wake up, I get ready, I go to work. Is it putting you in that mentality?
Because that could be keeping you from kind of taking on some of these other ventures.
So is that security of that regular paycheck paycheck worth sacrificing some
(09:34):
of the other areas of your life that you could add success to.
So I think that that's kind of a...
A a challenging thought i think that that's
a challenging thought and and it's interesting to
me because when when i i
you know in passing and i've sat down and watched some of the episodes with
shark tank i i used to enjoy watching shark tank and i've
(09:57):
sat down with with my wife and we've watched some of
the episodes and a lot of the episodes are
people that are doing just this and it kind of made me
start to connect those things did mr wonderful did he come out
with this statement because he has seen so many
people actually kind of do
this that that they're like day in and day out job is
(10:19):
is kind of preventing them from from some of the things that they've brought
to shark tank and they've gotten investors from and that they've you know turned
into a killing i think that's something that we have to think about because
he's been there and there's There's one time where there's not,
not one time is one instance,
but there's a time in the episodes where someone will say, well,
(10:41):
I'm still, I'm not fully like committed to this, right?
Like there's, there's this great idea, this transformational thing, service, whatever.
And I'm still working my nine to five and they'll ask, they'll say,
well, who's running this business?
Well, I'm doing it on the side. And they have, they have, they challenge,
they, they, they, they, they struggle with that.
(11:03):
That because they don't want to get involved with a business that this person's
not fully committed to, right?
They've come to Shark Tank. I'm not telling you, if you sell trinkets and you're
selling three a month, you got a minute before you get to Shark Tank, okay?
But that doesn't mean don't start, right? That doesn't mean don't start.
(11:25):
So I kind of wanted to think through some of the different areas that maybe
it is that you just have this product that you you make every time you come
around your your friends or your family is saying well.
Hey, did you make any more of those oven mitts? Did you make any more trinkets?
Did you, Hey, have you made any more of those? You know, like I'm thinking like
(11:48):
carpenter, like wood items, like tables, like chairs, like just throwing out ideas here. Right.
Have you made any more of those? Like that was really cool bar stools that you made.
And I saw, I saw you post on your Instagram and your living room.
Do you make those? Like, those are really nice.
Those are the type of things. And those are just a bunch of random examples,
but those are the type of things.
Things if you have a gift and you're
(12:11):
not going after it and you're not making money doing it but you
could i just i think that mr wonderful's
idea here is true as crazy
as it is i think it's true that you're like that like that could be your breakthrough
right that could be your the spot that you you really break out if you just
(12:31):
get started right if you just start if you just start selling whatever that thing is.
If you just move in that direction, there may be some legitimacy to what he's talking about here.
That nine to five could be kind of putting you in that comfort zone.
That steady job could be killing a bigger dream that you have, right?
(12:54):
Something that you think about and you're like, man, I wish I could do this.
And I'll talk about this, but But the financial mirror started just kind of on a whim, right?
Like it was kind of like I had this deep desire talking to my wife and I was
like, I want to help people and I want to help people with their finances.
I see people struggling. I hear people struggling.
(13:16):
I want to help people. I want to like people come to me. They ask me for advice.
They ask me for opinions. They want to know like, what do I think about this?
And I'm freely giving that information, right? Like I want to freely give that
because there's nothing more satisfying to me than to watch someone's life completely
become completely transformed by starting to make some of those very pivotal financial decisions.
(13:42):
So that's kind of how it all started. That's how this whole thing started.
And, and I think back and I try to apply that, like, like if,
if I wouldn't have been in a position to be able to kind of take that first step,
would I have been in that, in in that, in that realm where I'm like, well,
the nine to five is just, it's kind of taken away the energy that I really,
(14:04):
I really get a lot out of watching people be successful with money to be good
stewards of their money with that job, with that steadiness, with that consistency,
with that reliance on that paycheck,
would that have kept me from doing what I'm doing today?
And, and, and, you know, and, and that's, that was the breakthrough.
(14:25):
That was the, the light bulb moment for me. reading Mr. Wonderful's article.
I challenge you. I challenge you. I challenge you to think about yourself.
Think about something that you may want to do.
Maybe it, maybe you want to, you want to kick off a business and there's like,
there's something that you're great at.
(14:47):
Everybody wants it. You're not getting, you're not, you're not providing the
world that service or that product, right?
You're great at it though. You love doing it.
You love doing it. Maybe that's, maybe that's something. thing.
Take the first step, write it down, figure it out. How can you do this and continue to work your job?
What I'm not saying at any point in this episode is quit your job.
(15:09):
That's not what I'm saying.
What I'm saying is think about how you can balance your life to still go after
that, because one day that could replace your job, depending on the type of effort,
the type of return on that investment that you put into that business.
And you have to look at it as a business. If you continue to look at it as a
hobby, it'll never prosper.
(15:32):
But I do want to also kind of touch on some other avenues that you can do,
and they don't have to be through the idea of selling services or products.
The number one thing that I can tell you is that a lot of people lose track
of setting aside time to ensure that they are maintaining a good investment portfolio.
(15:56):
There is a, while I'm not telling you to be an active trader,
unless that's something you're into and you, you know, you're,
you're researched on it and you're educated around it.
I'm not telling you to do that. But what I am telling you to do is to be on top of it, right?
To stay informed, to work with someone that can help you through your investments,
to make sure that they're, that you're getting the returns that you need,
(16:18):
but staying on top of that and not letting to be a byproduct of whatever, right?
Not getting so caught up in your nine to five that that's not a thing.
Maybe real estate's your thing, right? And I've touched on multiple episodes
around real estate and how I've done interviews around house hacking.
I've done interviews with how you can be benefited. I've talked about rental
(16:40):
properties that I own and things like that.
And that is something that also may be, if you are out of debt,
maybe something you want to start researching and and working on, right?
Because step one is just educating yourself.
Find out if there's something that you really enjoy and you want to get involved
in, educate yourself, get wrapped up in it, start getting involved,
(17:03):
learn about it, and then go after it.
That'll help you get the money together. That'll help you get all the capital
together you need to get started with real estate.
But if that's something that you want to get into, that's something you should do.
Real estate has has its own set of challenges and understanding that the real
estate market is changing currently and it's always changing.
(17:25):
But what I want you to think about is that there is financial opportunity,
there is financial growth that happens inside that market.
There is financial opportunity and financial growth that happens inside the stock market.
And that's just two areas that you could get involved in and start educating
yourself around and not be so caught up in just your or nine to five,
(17:46):
just that steadiness, just that rat race.
What are other areas that you can start to build wealth in and go after those?
And then the last one I've kind of talked through, I've kind of discussed,
but side hustles come in all shapes and sizes.
I've talked about selling things. Maybe it's a service that you provide,
like the financial mirror is a service.
(18:07):
There's not much of a product there. There's products that we create kind of
to help you and guide you and and keep you on track from, from your financial perspective,
uh, whether that be, you know, plans to get out of debt or, or putting together
budgeting products and things like that. But most, mostly it's a service, right?
Mostly it's a service, but that's something that, that maybe you,
(18:28):
that there's something in that nature that you're enjoying.
Maybe it's finances, maybe it's health. Maybe you want to just go be a,
like a personal fitness coach.
Like, I don't know what it is. I don't know what it is that you bring to the table.
But there is always something. There's always something that you can do because
there's something you enjoy that you're not making money doing,
(18:49):
but there's a good opportunity that you may be able to do that. Think hard about that.
The other thing that I did want to kind of talk about when it comes to the side
hustles and gig economy type of thing is that we are in a time where educating
yourself about things is becoming much, much easier,
whether it be like a Coursera or a Udemy or something of that nature,
(19:13):
there is opportunity for you to educate yourself.
YouTube is free, things like that. It is becoming so much easier to educate
yourself about the things that you enjoy.
You can become great by educating yourself about something very specific.
(19:34):
This isn't like, you know, college classes that, you know, you need to show
up and do this. Like Like you can do it at your own pace.
There's things out there where from learning how to code to learning how to,
you know, go out and build things,
learn how to work on a car or like you can go and learn how to do something
and make a business out of it.
(19:57):
You can, you can. And I did want to end on one like little, little cool success story.
And I thought it was just the coolest thing. So we when we last summer,
when our we had just come out of the winter season and we return our sprinkler
system on one of the sprinkler heads blue,
(20:17):
right? Like it kind of it kind of died on us.
I'm not a professional, so I hired a professional, right? And I was talking
to the guy and he was like, yeah, like I'm I really if you I don't know if everyone
has a sprinkler system or if you don't, but, you know, you kind of winterize it.
They blow all the water out to keep it from freezing, things like that at the
end of when your cold season is starting to come in.
(20:40):
So when that happened –,
And he saw an opportunity. He's like, I was cutting grass, I was doing all these
things all summer, and then I was winterizing sprinkler systems, blowing them out.
And he told me, he was like, but now I don't even have to cut grass in the summer.
I made such a business marketing myself that I make enough money to live the
(21:02):
whole year in those like three months of blowing out sprinkler systems by winterizing sprinkler systems.
And I was like, that is nuts.
That's nuts. But he took a chance on himself. He invested in himself and now
he's prospering, right? Now he's doing great.
(21:22):
So I just challenge you to kind of think about that. that. Think about areas
in your life that you could do that, that you could go out and take on something
else that may just replace your nine to five.
And maybe Mr. Wonderful isn't so crazy, right? So take this as a challenge.
Take this as a challenge to think about yourself.
(21:43):
Take this as a challenge to think about some of the things you want to do and
how can you incorporate those in your life and potentially make a little cash along the way.
Now, we all know that takes capital. It It all takes finances.
And if you need a little help getting your finances under control,
that you can start down that path, whether it be getting out of debt,
saving up for one of these projects, whatever
the case is, head over to thefinancialmirror.org and hit book now.
(22:06):
Schedule a free consultation with me and we can go through and work out what
plan is best for you so that we can get you on the path toward whatever that financial goal is.
If you do want to give an extra dose of support to the stream,
head over to thefinancialmirror.org Workforce has shop and pick you up some
awesome financial mirror gear. All the money goes right back into the stream.
(22:27):
I hope everyone got something out of this episode. I thought it was an interesting
article. I thought it was something that'd be great to talk about.
I appreciate everyone tuning in.
Don't forget to subscribe, like, comment, and share this episode and all the
other Financial Mirror episodes that you are utilizing to help you improve your financial situation.
And if you are a listener on a podcast platform of your choice,
(22:49):
don't forget to subscribe and leave a five-star review and a written comment
as both go a long way in getting this information out to more listeners.
Like I said, I hope you got something out of this episode. I hope it's impactful for you.
It was not meant to be a direct stab at your job.
Keep going after it. That money is the tool that you need to build wealth.
(23:13):
The challenge here today is to think about what else and answer that question.
What else? what else could I do to build my wealth what else can I do to turn this passion,
into an income what else and that's the question that I'll leave you with what
else what else can you do and when you figure that out it will it will change
(23:36):
your life so use this article as kind of as kind of a opportunity to to really
Really reflect on what else you can do.
Go after it. Get after it and change your financial future.
Till next week, continue improving the one thing you can control yourself. Peace.
(23:56):
Well, that wraps up today's Financial Mirror.
Join us next week as we continue to work on ourselves, change our mentality,
and to commit to achieving the success we always envisioned.
Regardless of your platform, help us grow as a community.
Please like, subscribe, and share with the people in your lives.
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