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Highlights from this episode include:

  • This insidious mentality can ruin your financial AND emotional life (1:54)
  • Making decisions based on this is one of the worst ways people allow money to ruin their life (8:22)
  • Using this system for your finances will destroy your marriage (9:48)
  • No matter how successful you are, these people can pull you back down if you keep them around (14:38)
  • These two emotions are the most likely to drag you down into poverty (15:30)
  • This is the only way to keep money from ruining your life (15:47)
Read Full Transcript

Do you hate the thought of working past 55 or 60? Do you hate not being able to live the life you deserve today? Do you hate not knowing what your financial future looks like? It's time to stop doing what you hate, here's your host, Mr. Harold Green.

(00:20): Well hi everybody. Welcome to the show. And this is Harold Green, Brighttree financial and it is time to stop doing what you ate. Welcome to the show everybody. How's everybody's week going so far? Mine's going. It's going okay. There's a lot going on in the world and things are a little more stressful for everyone, but I know we're going to be okay and so I want to walk on my class to the show and I want to send a big shout out to you. A big mahalo. Big kudos. Thank you very much for allowing me and my team to be a part of your life. And if you're new to the show and you're until the end for the first time, or you are a continuing listener, welcome back. If you're continuing, welcome back. If you're new, welcome, welcome, welcome. I'm so glad to have you.

(01:09): The title of today's show, it's a serious one, and it is titled, don't let money ruin your life. Right now, as I'm recording this, we're in the middle of the beginning of what they say is the bear market or quote unquote recession. We haven't hit those numbers yet to be any recession, but people are panicking. They're kind of freaking out. And for, in some cases they have a good reason to be panicky and freaking out. But in some other cases, they don't really have reason to be panicking and freaking out. I think people are reacting to what they see other people do. And you know, we kind of have the herd mentality we have, we're following, the group says the world is falling, the sky is falling, you know, run for the Hills. Then that's the mindset you're going to have. But if you're following the group that says everything is going to be okay, just make some good decisions and everything is gonna work out fine.

(02:05): So this morning, I think it was very early in the morning, my daughter, she's in New York, going to college, attending classes for architecture and she calls me, she says, dad, I'm concerned in New York right now is just crazy. The line at trader Joe's is out. It's around the building. I don't know if I can get any food, something about just coming home and just kind of weathering the storm, you know. And we talked about it, we kicked it around a little bit. And you know, we came up with a contingency plan, but she was really concerned about what was happening around her to the point where, you know, she's not sure she can even get food because of how people are reacting and they're overreacting. And until I said are, they're going to cancel classes. And she said, well, you know, here we're taking classes in the city.

(02:54): And they said we could, we should go home and then take classes online if we wanted. Just to kind of ease fears. But no, they did not cancel the class. And so when I woke up this morning, that thing that was on my mind was one word, opportunity, opportunity, opportunity. We have to find the opportunities to prosper and to succeed in the midst of what's going on in our world. And so I said, well, you know, honey, I think you should stick it out if you can, let's give it a week or so, 10 the classes and see how it goes. But if it doesn't go well, then we can definitely put our contingency plan in place. And so I want to share something that I came up with or the last couple of days and something that's been helping me help my clients really understand, you know, where we are.

(03:44): And so I want to get into talking about how not to let money ruin your life. But before we do that, I want you guys to go to my website, retire now, retire while.com click on the rapid retire button, download the brochure for me, click on the game changer form and complete that. So we can be in touch after the show. But I want you to scroll down and then I want you to read a disclosure that talks about the rapid program and also the disclosure on investments where investments, all investments are speculative and they do involve substantial risk of loss. And so I want you to take a look at that. But getting into the show, there's a, there's this formula that you know, if you're sitting down and you and you have an opportunity to grab a sheet of a paper, here's what I want you to do.

(04:30): I want you to draw a line down that paper from the middle and then draw a line across the top, sort of making a T. And I want you to write down on the left side these two words, world world sees world, sees a right hand side. I want you to write down two words. These words are faith or slash hope sees. I'm going to explain what they are. When the world, the world is as a whole, it's how it's the world's perspective. In other words, what's going on around us, what's happening around us and what people see. And what people do. Like I call that the world and right now in the world there's a lot of danger and there's a lot of fear. So under the word world sees I want you to write down dangerous lash fear.

(05:24): Then below that make a plus sign and below that write the word action and below that equal sign and then below that poverty and lack, okay, on the right hand side I want you to write down at the top page CS and then below that opportunity, okay? Plus, okay. The plus symbol action pay below that equal sign and then the works prosperity plus surplus or prosperity serve us. And so when things are going really, really, really sideways in the world, there's a lot of danger but faith, your whole your your expectation for the future, it's going to see opportunity. How? However, if you act on that opportunity, you're going to have some tremendous prosperity coming to you in the future. However, if you act on danger and fear and a lot of cases that's going to turn into poverty, lack and sufficiency and so on and so forth.

(06:25): How I know this to be true. It's something that I did in my own life when the market was not doing well back in 2012 before my, my son graduated high school and he was going to go to college and I told my wife, I said, honey, I think things are going to look really weird here for a while. And so what I want to do is we had sold a piece of property before and then we were renting for a while to improve cash flow. Our cashflow drastically increased because of that decision. I saw some things that were not gonna go well. So we sold that property and then put ourselves in position during that time to take advantage of some of the new things to come in. And what happened was an apartment in our building came up for sale. It was one of the cheapest places in that entire complex.

(07:15): And so I told my realtor, I called him up and I said, Hey, I think it's time to buy. And he said, well, now, I said, I think it's, I think it's time to buy. Nobody's spine now. I said, well, I think it's time for us to buy. So we just got a couple of different places and lo and behold, we put an offer on the place that was in that building and the offer got accepted. We went through a lot of hell in order to buy that place. But I tell you the appreciation on that place was tremendous. I think it went up 25 to 30%. Then about a year and a half after purchasing it. And when a lot of people saw danger or they saw, you know, the negative, my wife and I, we look towards the future and we saw, we saw something positive.

(08:00): And so right now there are a lot of things going on and people are going to have a lot of opportunity to allow money or their misunderstanding of it to ruin their lives. So again, do not let money run your life. And one of the ways people allow monies to ruin their life is through their misguided emotions. And I'm going to tell you, ms God, emotions are dangerous. Anytime you have to make a decision, you have to make your decision based on the facts, make your decisions based on sound fundamental principles and not fear and not panic. But when you do see people going into fear of going into panic, that is the time for you to take actions of faith, actions of hope and then to take advantage of those. Okay. So in America I really feel that people's money is tied to their, to their emotions and I see that in a number of different areas.

(08:56): The first area I see that in as in their family. And if you're married, here's something that I want to encourage you to do. Do not let money ruin your, your marriage or your life. I've seen a lot of articles about how people, husband and wife, they don't see eye to eye when it comes to their finances. And so, you know, they have two pockets. And at one point in time when I, when I first started my practice, I would just take on, I would just take on anybody, whether it was, you know, because I needed to, to grow my firm. But then as I got along in my business, what I found is that working with couples who have a two pocket system was kind of difficult. You know, the my money, his money, her money, my money kind of thing. And so, you know, if I had clients who came on board that way, it was always my goal to help them build some synergy into, to build some momentum as a team.

(09:51): And I told people the reason why you're married is because you have a joint purpose and a joint vision for your life. And if you don't have a joint vision and a joint purpose for your relationship, you might want to sit down and figure out how to get one bill. Because money will ruin your relationships if you let it. And I'm going to correct myself, it's not money itself, it's our thoughts about money. Okay? And how we view money could potentially ruin our relationships. Because as a husband and wife, you gotta be on the same page because if you have kids, it's very important. Okay. And kids know how to play. The system. Mom may say, I can't have, and dad may say, I can not have, but if mom and dad are on the same page, that's a very strong family unit because guess what, they get into high school, then they're going to get into college and then they're going to get into life.

(10:41): And so you definitely want to make sure that you're on the same page with those things. And sometimes when, when it comes to our kids, we tend to have a soft heart. I've seen parents with that before and you know, they could come in and you know, the parents, they may not have the money, but they look at me and said, you know, we're going to do whatever it takes in order to, to get our kids through school because we love them. And I understand that. However, at the same time, there is no need to let a misguided thought or a feeling or an emotion ruin your entire financial life just because you want to do the honorable thing and, and send your kids off to college. There's the right way to do it. There's the wrong way to do it. And I think I talked about this in several shows, you know, we do have a plan or a program to help parents in their kids off to college without going broke or spinning down their entire life savings along with preserving a pretty decent quality of life in the process.

(11:37): And so I started the college funding practice side of my firm back in 2007 right before, you know, the, the wheels kind of fell off, kinda like what's going on right now. The wheels are falling off, but you know what? We're going to be okay. We just have to have a plan and to that plan also when it comes to family, we may have family members that you know, can be down on their luck. They could need some help. I'm going to, I'm going to share with you that it's very important to, you know, if you know, you have family members like that, you definitely want to have some sort of contingency fund or a rainy day fund just in case you have to help them as well. So you have your own contingency fund, but then you may have funds that are earmarked towards helping family and so on and so forth.

(12:22): I've seen people love their family and they help their family, but then they put themselves in the same hole that they're, that their family members are in. I call it the blind leading the blind. And so you definitely want to make sure that you are not letting your relationship with family ruin your finances as well. And that's another thing that leads to divorce is people, you know, they do care about their family and you know, one spouse may be helping a family member and the other spouse is against it. And so that causes, you know, angst and emotional issues and resentment and so on and so forth. And so you definitely want to make sure that you and your spouse are on the same page when it comes to helping out family members and things of that nature. Friends, you know, sometimes we have friends that are not good for us.

(13:12): I made a commitment to my wife that if any kind of friend that or acquaintance that I had caused problems in my relationship, I would highly consider not being in a relationship with that person. Especially, you know, if there are alcoholics that are going out partying all the time, they're doing things that you know, I don't do in my life, then I really have to consider that. Okay. And so I've just made that commitment to watch who I am, who I'm friends with. And I can honestly tell you that outside of my wife, there may be one or two people in the world that I feel that I can trust and share anything with. I think maybe one or two people. And that's not including my mother and, and you know, close family members. But I'm talking about friends and associates and here's why I've heard it said that friends are like buttons on an elevator.

(14:11): They can take you up or they can take you down. And so you definitely want to make sure that you have the right friends in place, especially if you are becoming starting to become successful, right? You want to make sure that you are around other people that are successful and if you have friends that are not successful, I'm not saying cut them off, but I'm going to say watch and monitor your interactions and how you know how things go. I've seen people become super successful and then they fall apart because of the friends that they have around them and I've also heard that you can either fly with chickens or you can either fly with Eagles or a cluck and scratch around the yard with the chickens and so your friends are going to be very important. You need to have a very good support group that will also help cheer you on and things like that if you don't want to let money ruin your life.

(15:04): Again, success breeds success. Today's show is going to be a little bit short because I just really wanted to hit a couple of key points with you guys about how not to let money ruin your life. I'm going to be doing some other indepth shows down the road about how money can ruin your life. Then, I'm putting on a show called the wonder twins, figuring greed. Those are two things. Those are two emotions, very big motions that I see ruining people's lives all the time. Another way that you can prevent money from ruining your life is by having a plan. And I keep beating on this room about having a plan over and over and over again, but it's very important to have a financial plan because that financial plan can help you stay on track and it will help you keep your emotions intact.

(15:53): A lot of times when you're just kind of flying out there and you're kind of winging it, there's a lot of things I can come along and clip your wings or things that'll make you make bad decisions. And so one of the things in this type of economy that we find ourselves in, and I've kind of been in these economies before and so people are emotional and they make one bad decision and then they try to over-correct and they make another bad decision. So the next thing you know is you have a screen of bad decisions that it is hard to recover from. And so if you don't have a plan in place, one that's going to guide you or now your tomorrow and you're forever, it's time to sit down and have a conversation about what you need to do to either adjust or to change in order to, to, to be in position, to take advantage of the opportunity that we're going to be faced with here in the future.

(16:46): So yes, there is danger in the world. There's fear, there's all these different things, but there is also opportunity on the other side of that and sit down and we'll sit down and we'll come up with a plan to, to maybe you don't have your dream home yet. Maybe it's going to come to pass here pretty soon. We don't know, but there could be an opportunity for that. Maybe you're not in your dream job yet and maybe there is an opportunity for you to now switch over into your dream job. This folks, as the time of opportunity, when everyone else is running scared, you should be running in faith. They should be running in a home. You should be. You should have been prepared for this moment. This is the moment that I've been sharing with my clients for a very long time. The rich get richer when things are bad, the marriage, you don't get Richard when things are good, but they get Richard when things are bad and right now things are bad and right now is time to act, look for opportunities and then take your shot. All right, so again, go to my website, retire now, retire while.com download the rapid retire brochure. Also go check out that game changer form. Fill it out for me, send it in and I'll be in touch with you to help you take advantage of the opportunities that are going to be coming your way. All right, well thanks a lot for listening to the show today. Until next time, guys, stay safe. Do what you got to do. Ready? One, two, three. Let's get it.

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