On this special episode of The Get Ready Money Podcast, I share 60 things to change the way you think about life and money, that I’ve learned over sixty years.
Here’s five of the things that I shared:
On this special episode of The Get Ready Money Podcast, I share 60 things to change the way you think about life and money, that I’ve learned over sixty years.
Here’s five of the things that I shared:
Are you looking to get ready, be prepared and transform your financial future? Then you've come to the right place. This is the Get Ready Money Podcast with Tony Stewart, where Tony has insightful conversations with financial experts who are changing the way we think about money. Watch up on the latest financial trends and hear practical advice from Tony and his expert guests so you can build healthy habits that work. Be empowered with tips for implementing small changes that can have a big impact on your financial future. So sit back and get ready to hear from today's guest.
Speaker 2:Welcome to a special episode of the Get Ready Money Podcast changing the way you think about money. Today, I'll be sharing about 60 things to change the way you think about life and money. This year I'm turning 60 and in some ways the years have flown by, and other ways it seems like it's almost been 600 years, you know, and over that time I've learned a lot, and I wanted to share some of the things I've learned. Hopefully there's something here that will resonate with you and help you on your life journey. While most of these things are about life in general, they can also be applied to help you be more financially prepared. Here are the 60 things that will help you change the way you think about life and money.
Speaker 2:Number one be curious. Ask questions, learn something new. Asking the right questions is the only way to get the right information. Number two listen, then listen more. The best lesson I ever learned is to listen to my family, friends, clients and colleagues. Hear what they are saying before responding. You know, take a beat. This is this can also be one of the hardest things to do.
Speaker 2:Number three we look at things differently. Consider other people's perspectives. You can't change someone's mind by arguing. Has that ever worked. However, you can share information that can help them make up their own minds.
Speaker 2:Number four be kind. Everyone has something going on inside them that you can't see. Number five follow the golden rule. Treat others as you would like to be treated. As the Grateful Dead say in Franklin's Tower, if you plant ice, you're going to harvest wind. Number six help others anonymously. This is really rewarding. You know, if you do something, you don't tell anybody about it. You know. You can hold that inside yourself and it feels really good.
Speaker 2:Number seven is to be yourself. Be authentic. We're all unique. It's much easier to be ourselves than anyone else. As Bill Graham said about the Grateful Dead, they aren't the best at what they do. They're the only ones that do what they do.
Speaker 2:Number eight is to stand up for what you believe. Advocate for what's right. If everyone stays silent, things don't change. Number nine you can make an impact and change your world. We have the capacity to make a change in the world, whether it's big or small. Be a force for good. Lead by example.
Speaker 2:Number 10, family matters. Family is important. Take care of your family, take care of your parents, take care of your spouse, partner, kids, everyone you know. Love them. You know they're the only family you have. Number 11 is advocate for yourself. You are the only person who knows what you are feeling and what you need. Speaking up for yourself is the way to communicate this and to get what you are looking for. Number 12 is be polite, say please and thank you. It's amazing how this creates a positive impact for those around you and for yourself.
Speaker 2:Number 13, follow your passion, whether it's professionally or personally. Pursue what you love to do whenever you can. You'll enjoy life more. Number 14, don't panic. Stay calm. Calm will help others.
Speaker 2:Things are often not as bad as it can appear at first. Focus on your goals. Number 15 is to think before acting. You know, again, this is related to the last one. Take a deep breath. Just acting will oftentimes make things worse.
Speaker 2:Number 16, seek balance in all things. This includes work and personal life and can extend to even having too much dessert. You know I mean it sounds great, but you know you got balance set out. Number 17, read. I love to read. Read as much as you can. Keep learning, try to get a little smarter each day and read as much as possible. Charlie Munger, warren Buffett's partner at Berkshire Hathaway talked about this, about how much he loved to read and how he felt that was such a vital part of his success. Number 18, smile at everyone when walking around. Smile and say hi. You'll be surprised at how many people smile back and say hi back to you, although a fair number of people do ignore you, but it still feels great and you're gonna make somebody else's day.
Speaker 2:Number 19 is to help others. If someone needs help and asks for help, help them if you can. Number 20, return calls, emails and texts, or at least acknowledge them. Don't blow off people. Don't ignore them. 21, treat others with respect. Don't be rude. Would you treat a family member the same way you're treating a stranger? Number 22, dance like nobody is watching. Don't worry about what others think.
Speaker 2:Number 23, learn one thing from everyone you talk to in every conversation you have. There's always something that you can learn from someone else, even if it's a person who's not jiving with you. Be curious about other people. It's a great way to start conversations and to learn something about them. Number 24, talk to people who think differently than you or who come from different cultures or perspective. Just because someone seems different on the outside, they're not going to be different on the inside. We're all people. Don't be afraid of the unfamiliar.
Speaker 2:Number 25, think for yourself. Make your own opinions, reach your own decisions. Number 26 is be flexible. It's okay to change your mind when you get no information. You don't need to be stuck on a point. Number 27, be on time. It's respectful. Early is on time, on time is late, it's polite and shows respect for other people. And if you get somewhere early, you lower your stress because you're not worried about getting there on time and you often get to pick out, you know like, your location at a restaurant or a party or whatever. Being there early, you know, has a lot of advantages.
Speaker 2:Number 28, learn first aid and CPR. You may just save someone's life. Number 29, life is short. While some are fortunate to live to age 100 or even age 60, like me, some of us will die young. You never know. So live life. While you can Bounce goals and dreams for the future with doing things today, don't put off everything for the future. Number 30, see problems as opportunities. Change your perspective to see that there are usually opportunities in every challenge we face.
Speaker 2:Number 31, history doesn't repeat itself. Power fit often rhymes. It's important to learn from history and our past experiences, as that helps us avoid making the same mistakes and grow. Number 32, don't be your own worst enemy. That's Grateful Dead saying Althea ain't nobody messing with you, but you. Number 33, there's often no right answer. There's just the answer that works for you.
Speaker 2:Number 34, look at the big picture with your money and your life. It's easy to focus on one particular product or service or thing. Focus on your goals and what you wanna accomplish and whether something whether it's a financial service, product or something else will help you meet that goal. Think about what you wanna accomplish first, rather than starting with the specific tool or resource. Number 35, be educated. Be sure to understand what you are doing with your money. If you can't understand something, you should pass on it. Knowledge is power and this goes for anything in life, whether it's with money or anything else. If you're not familiar, you know. If it's not, it doesn't feel right. If you don't understand it, walk away.
Speaker 2:Number 36, keep it simple For both your life and your money. The more variables, the harder to monitor and predict the outcome, and the more likely that something's gonna go wrong the more details you add. Number 37, related details matter. As John Wood in the famous UCLA basketball coach said, it's little things, it's a little details that are vital. Little things make big things happen.
Speaker 2:Number 38, manage your expenses. Most people concentrate on the return of something and don't consider that high expenses can significantly reduce their net return. For example, if you reduce your expenses by 1%, that will increase your return by 1%. You know and balances out. You know, like if you're driving somewhere across town to get gas that's 10 cents cheaper, are you spending more than that 10 cents per gallon on just driving there? Number 39, know your risk level. Whether it's with investments or riding a roller coaster, knowing your comfort level with risk will help you stay relaxed and not stress out. Number 40, focus on the big things rather than the little things. Are you worrying about a $5 decision, like buying a Starbucks drink, rather than worrying about a $1,000 decision? You know saving 1% in annual expenses on a $100,000 mutual fund investment will save you $1,000. Saving $1,000 in expenses would buy you 200 lattes at $5 a pop.
Speaker 2:Number 41 is diversify. Don't have all of your eggs in one basket, whether it's money or in life. Number 42 is review. Continue to review all areas of your life. Things change and you change just because something is a great fit at one point in your life and may not be in the future. Be ready to make changes as your life changes.
Speaker 2:Number 43, consider the source of information. There are many people and companies giving financial advice and just advice in general. Think about whether they are qualified and reliable source. Number 44, seek advice if you need it. Know when you need the advice of a professional. You wouldn't do your own eye surgery.
Speaker 2:Number 45, protect your risks. Ensure what needs to be insured. Be sure to have a safety net in place for your life, whether it's an insurance policy or a rainy day fund. Be protected. It's just like you take out an umbrella if it's gonna rain outside. Number 46, know your value. Ask for what you're worth.
Speaker 2:Number 47, insurance is not an investment. Check any insurance policies and it says that it is an insurance contract. All insurance policies are regulated by the Department of Insurance in that state jurisdiction. Variable policies are also regulated by securities regulators. Insurance policies always include the cost of insurance and are not a way to be your own banker. Just putting that in because it's something I've heard so many times over the course of my career. Insurance policies are insurance policies. First, you can have an investment component, but that's not what they're designed to do. They're designed to provide insurance and grow a cash value.
Speaker 2:Number 48, understand the miracle of compound interest. As Albert Einstein said, compound interest is the eighth wonder of the world. Number 49, money is connected to all parts of our lives, or, conversely, all of our lives are connected to money in some way. If we are stressed about money, it will impact other parts of our lives. Number 50, we're all unique. There's no one size fits all for strategy for anything. Number 51, once in a while, you get shown the light in the strangest of places. If you look at it right, this is from Scarlet Begonia's, by the Grateful Dead you never know when and where you'll find what you're looking for.
Speaker 2:52, be judgment free, whether it's with your weight or your money. Whatever your number is, that's okay. It's neither good nor bad. What's important is what you do moving forward. 53, related to this you can't change the past. Whatever has happened has happened. Number 54, it's not how much you make, but how much you keep. So manage your expenses as well as your income. Number 55, believe people when they tell you who they are. This is paraphrased from Maya Angelou.
Speaker 2:Number 56, don't assume. Get the facts and then make a decision. Number 57, know your personal history and your money story. Your history will impact your decision making. Understanding this will help you change your perspective. Number 58, know what you can control and what you can't control. Only spend time on what you can control. Number 59, give generously with your time and money. Help others and make a difference. It's a great feeling. Number 60, today is the best day to start. It's never too late to make a positive change. So that's a lot of what I've learned, you know. Please share with me in the comments, dme, whatever, with what you think of this list and what you would add. I'm excited to see what I learn in the future. Thanks for tuning in to this episode of the Get Ready Money podcast. If you like this episode, please be sure to subscribe and to share Until next time.