If You Get Significance From Spending Money… (2370)

Build the mindset that creates wealth. In today’s episode, hosts Kevin Palmieri and Alan Lazaros examine a powerful shift most people never make when it comes to money, identity, and long-term success. Many people focus on earning more, but far fewer examine the thinking patterns that shape how money is used, invested, or wasted.

This conversation looks at the difference between short-term emotional decisions and strategic choices that build a stronger future. It also highlights why belief, identity, and personal responsibility influence financial outcomes far more than most people realize. If you want to understand why some people consistently build wealth while others repeat the same financial patterns, this episode challenges the mindset behind every decision involving money.

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Show notes:
(3:45) Why giving money feels meaningful but can become unsustainable
(6:03) Sustainable generosity versus reckless generosity
(8:31) Consumer mindset versus investor mindset
(11:36) How investors think about purchases and long-term value
(16:05) Identity shift from consumer to investor
(26:59) Why belief determines whether you invest in the future
(31:20) Outro

🎙️ Hosted by Kevin Palmieri and Alan Lazaros

Next Level University is a top-ranked daily podcast for dream chasers and self-improvement lovers. With over 2,100 episodes, we help you level up in life, love, health, and wealth one day at a time. Subscribe for real, honest, no-fluff growth every single day.

Transcript

Kevin Palmieri

(0:00) Some of my most regretful nights were the nights where I would go out, get very drunk, and then just proceed to spend hundreds of dollars on strangers, go back to the hotel that night, start to feel the regret, wake up the next day and then feel really, really bad about myself. (0:20) And that's something I had to uncondition over a long time.

Alan Lazaros

(0:23) What is your relationship with money? (0:26) What is your identity when it comes to money? (0:28) What does money mean to you?(0:30) That's what we're talking about.

Kevin Palmieri

(0:31) Welcome to Next Level University. (0:34) I'm your host, Kevin Palmieri. (0:36) And I'm your co-host, Alan Lazarus.(0:39) At NLU, we believe in a heart-driven but no-BS approach to holistic self-improvement for dream chasers.

Alan Lazaros

(0:45) Our goal with every episode is to help you level up your life, love, health, and wealth.

Kevin Palmieri

(0:52) We bring you a new episode every single day on topics like confidence, self-belief, self-worth, self-awareness, relationships, boundaries, consistency, habits, and defining your own unique version of success.

Alan Lazaros

(1:08) Self-improvement, in your pocket, every day, from anywhere, completely free. (1:14) Welcome to Next Level University.

Kevin Palmieri

(1:20) Next Level Nation, today for episode number 2370, we are talking about what we promised we would talk about yesterday. (1:26) If you get significance from spending money, you're kind of jeffed in the long run. (1:32) Our intros are so different.(1:34) Yes. (1:35) I was talking to your wonderful partner about that on our call today. (1:39) I said, I try to create curiosity when I'm starting in the beginning, and Alan just tells you exactly what the episode's going to be about.(1:45) Literally, he says, this is what we're going to talk about, and here we are. (1:49) She's like, yeah, I'm the same, I'm the same way as Alan. (1:51) I was like, I know, I know, I know.

Alan Lazaros

(1:57) We're academics, man. (1:58) Academics. (1:59) What are you going to learn here?(2:01) That's what it's all about.

Kevin Palmieri

(2:02) It's all about learning. (2:03) Hopefully something. (2:04) We're going to learn.(2:04) Hopefully something. (2:05) One of the hardest parts about rebuilding your identity when it comes to money is getting rid of the good feelings of being reckless. (2:14) Again, we did not have a lot of money growing up.(2:17) This should not have been what was happening, but my mom used to give massive tips, and I always had the deepest respect for that. (2:26) I loved that. (2:28) It was my favorite thing, and I loved doing it.(2:33) We went to, I don't even know what it was. (2:37) It was like a dance. (2:39) It was an event.(2:39) It was a black tie event. (2:41) It wasn't as nice as it sounds, but we had to wear black ties. (2:46) And there was a charity auction to help support somebody to go to college.(2:53) And I had- You mean you and I?

Alan Lazaros

(2:54) Yeah, yeah, you and I. (2:55) Yeah. (2:55) I thought you meant back when you were a kid.(2:57) I was like, what? (2:58) No, never. (2:59) Yeah.(2:59) No. (3:00) I remember this. (3:00) This made me cry.

Kevin Palmieri

(3:02) I probably shouldn't have done it. (3:05) In hindsight, no. (3:06) In hindsight.(3:07) But there was a young, there was a girl, and she was, I don't know what her background was, but she didn't have the money to go to college, and they were raising funds. (3:15) And I think I only, I think I gave like 100 bucks or whatever. (3:18) But I didn't have any money, so I shouldn't have been doing this.(3:21) But I feel really good. (3:22) I never once thought about that from a regretful place. (3:27) That's the way I'm wired.(3:28) I like giving people money. (3:30) I just, I want to go to the drive-thru, and I want to give them a 20, and I want to say keep the change. (3:35) I want to do it every time.(3:37) Can't. (3:38) But a lot of my significance was tied up in what I could do with money. (3:41) And that's something, like, I'm still unconditioning that to this day.

Alan Lazaros

(3:45) You know, one of the, there's that whole thing where money doesn't buy happiness, quote-unquote. (3:50) Well, they've done research on that. (3:51) There are certain things that actually money does buy happiness.(3:53) And one of them is giving it away. (3:56) I believe it. (3:57) Yeah.(3:59) It's not what people think. (4:01) Money buys happiness when you are able to delegate something that does not bring you joy or fulfillment. (4:08) Money buys happiness when you give it to a cause you care deeply about.(4:12) It wouldn't be just giving money. (4:14) Like, if you, okay. (4:16) First of all, it's not just about giving money.(4:18) The reason I cried when I saw you do that is because I believe so deeply in education. (4:24) And seeing you invest in her education, I believe in potential and education. (4:30) And I've told the story about how I got financial aid and scholarships when I, in order to be able to go to college because we were broke when my stepdad left.(4:39) So for me, that hit so close to home. (4:44) My point though, is giving away money isn't what brings you joy. (4:49) Giving away money to a cause, to a specific type of person in a specific way.(4:56) So think of someone you can't stand. (4:59) You think is bad for the world, right? (5:01) You wouldn't get joy giving them money.(5:04) No. (5:05) Okay. (5:05) So it's not just giving away money, but I see that's not the point of this.(5:09) The point of this episode, I think it's important.

Kevin Palmieri

(5:12) That's an important thing to state because I mean, it is right. (5:16) If, if that was my identity is just giving away money makes me feel good. (5:19) Obviously that's a dangerous thing too.(5:21) But yeah, it's always been like certain circumstances. (5:24) I love going through the drive through like people when they're having a shitty day, I know it doesn't make everything go away. (5:31) I know it's not going to fix all their problems, but it can be a bright spot in an otherwise shit day.(5:36) Right. (5:36) I like that. (5:37) I like being there.(5:38) Did you get big tips or something that that made you? (5:42) When I was back in the gas station, when I was at the gas station around Christmas time, my regulars would give, like, I would leave with a hundred bucks in tips. (5:51) It was awesome.(5:53) And I always, I was always like, so you don't have to go. (5:56) You see me every day. (5:56) Like, what are you doing?(5:57) Giving the gas station guy 20 bucks. (5:59) But I always was super appreciative. (6:01) So yeah, for sure.

Alan Lazaros

(6:03) Okay. (6:04) Well, so the point of this episode for all the listeners is what, what does money mean to you? (6:12) What do you tie?(6:13) We talked on the last episode about if you tie feeling good or self-esteem to doing something unintelligent or unsustainable, I used to call it, I forget what I used to tell you. (6:25) It was something along the lines of generosity is a luxury that is earned through sweat equity and good decisions. (6:35) Like if you want to be more sustainable giving instead of, okay, let's say we, we have 10 grand, Kevin and I have 10 grand and we want to donate it to the Next Level Hope Foundation.(6:46) What we should do is take two of it, donate it to the Next Level Hope Foundation, grow it to 20K and then four of it to the Next Level Hope Foundation, then 40K. (6:56) And then four of it, the Next Level Hope Foundation, or in this case, it would be more than that, eight of it. (7:02) But my point is sustainable generosity is you reinvest capital to make more capital so that you can give more over time.(7:13) And that isn't something you used to think about. (7:17) Dude, I was so dumb.

Kevin Palmieri

(7:20) I'm not kidding. (7:20) I remember going to a bar in New Jersey and I said, give me the most amount of shots you can give me. (7:30) They said, well, we can't give you a bunch.(7:32) I said, okay, let me, I'll find 10 people and bring it. (7:34) Like, give me all as many as you can give me. (7:36) And here's my card.(7:37) I don't care. (7:38) Like just run the fucking card. (7:39) I don't care.(7:40) It was the best, but it was significant. (7:43) I was walking around handing out shots to people. (7:45) It was like, it was the best.(7:47) It was the best feeling at the time. (7:49) I was also an idiot.

Alan Lazaros

(7:51) So here's the good news. (7:54) Because here's the thing. (7:56) There is an up.(7:56) That's awesome. (7:57) And it's not sustainable.

Kevin Palmieri

(8:01) Well, it's, it depends on, I mean, it's not awesome really. (8:04) Like I'm getting people to get more drunk. (8:06) Like drinking's not great.

Alan Lazaros

(8:08) I don't want to take away from generosity in this episode. (8:11) That's not what I want to do. (8:13) I do want to highlight intelligent uses of money.

Kevin Palmieri

(8:18) And that could be the sentences. (8:20) If generosity creates scarcity for you, you can't be generous anymore.

Alan Lazaros

(8:25) Yeah. (8:25) Because you're pouring from an empty cup. (8:29) That's, that's not, you can't pour anymore.(8:31) Now you have no more to pour. (8:32) Now you're empty. (8:33) We got to talk about the investor mindset.(8:35) And I was on book club on Saturday and we just started a new book, Peak Performance by Brad Stilberg. (8:42) Boom. (8:43) There it is.(8:45) And I asked everyone in book club live. (8:48) I said, okay, who here identifies as a peak performer? (8:52) What do you think happened?(8:54) Nobody raised their hand. (8:55) Nobody. (8:57) And I'm like, oh my God, what?(9:01) So again, I do always have, always will. (9:06) And I said, okay, well let's at least start with defining what peak performance is. (9:10) And by the way, you guys must not be that pumped about reading this book.(9:15) I mean, if you don't identify as a peak performer, why would you read a book called Peak Performance?

Kevin Palmieri

(9:19) You got to start there though. (9:20) Because I think a lot of people, one of the reasons a lot of people don't invest, don't identify as an investor is because they don't invest in the stock market. (9:27) I'm convinced of that.(9:29) You don't have to invest in the stock market to be an investor. (9:32) No, not at all. (9:33) Right.

Alan Lazaros

(9:33) That, I think the label fucks people up. (9:36) Well, no, their understanding of the label. (9:39) Like the narrow understanding of the label.(9:41) Like peak performer doesn't mean you're an Olympic athlete. (9:44) What does it mean? (9:45) It means that you are consistently looking for the center point of optimal in all performances and getting better over time.(9:55) What about investor? (9:56) Like what's the definition of an investor? (9:58) Someone who uses capital to increase and generate more revenue or income.(10:07) It's, this is an investor. (10:09) Someone who buys a bar of soap for a dollar and sells it for three. (10:14) Uh, if you buy the lemonade stand is a good metaphor.(10:18) And we're supposed to learn this shit as kids, man. (10:20) We're supposed to learn this shit. (10:22) Like, okay, you buy 12 lemons, you make lemonade and then you sell it for a dollar a cup.(10:29) You invested $10 and you made $40. (10:32) Like you're supposed to learn that shit as a kid. (10:35) And I don't know if anyone taught us this.(10:38) It's like really alarming. (10:39) If you don't know how to take $10 and make 20, you don't know how the economy works. (10:47) Like, why do you think, I know my frustration comes off in these episodes.(10:52) It's, it's, I'm not frustrated with the individuals. (10:54) I think I'm frustrated with two things. (10:56) The education system did not teach this stuff well enough, obviously.(11:01) Okay. (11:02) And then number two, a lot of individuals don't take the responsibility in advance to learn it. (11:07) It's like, how many people bitch about not having money, but then don't learn anything about money?(11:12) That's fair. (11:12) It's like alarming to me. (11:13) It's all free.(11:14) This is free. (11:16) This podcast is free. (11:18) You can learn about money.(11:19) You can't be wealthy and not study wealth. (11:21) Like that's not, it's a thing, but only because they have wealth managers and or they're Mike Tyson or something, you know, like they're good at boxing. (11:28) They're not good at finance, which is why he went bankrupt.(11:31) So at the end of the day, my frustration, we'll get that aside. (11:36) What is an investor? (11:37) An investor is someone who, who uses capital to earn more capital and who allocates capital to, so another good example, what would that be?(11:47) Okay. (11:48) This iPhone 16 pro max, I invested, I don't know, probably 1100 bucks over time, certain amount per month, Verizon. (12:01) And it's going to make me more capital.(12:05) I don't buy this phone because I want a phone ever. (12:09) That's an investor's mindset. (12:10) A consumer buys a new phone because they want a new phone.(12:13) They want to take pretty pictures. (12:15) Never, never.

Kevin Palmieri

(12:17) Unless your business is taking pretty pictures.

Alan Lazaros

(12:18) That's my point. (12:19) Yeah. (12:20) But it's the mindset.(12:21) It's the meaning. (12:22) So, so I bought this phone because it's faster and more capable and is better for branding and marketing and better for photos, which is what part of our business, right? (12:33) I never, like, I didn't buy this computer because I want a new computer.(12:36) I bought this computer because I want a machine that's going to run effectively so we can do better work. (12:42) And that's the difference. (12:44) Consumer and investor is not, I invest in the stock market and you don't.(12:48) It's a mindset. (12:50) It's a mindset. (12:51) And you know that now.(12:53) But I also think so much of it is connected to belief.

Kevin Palmieri

(12:57) Yeah, of course. (12:58) Well, you're not going to invest if you don't believe. (12:59) Yeah.(12:59) And you got to learn it. (13:00) It crosses a threshold of awareness. (13:03) I was talking to somebody today at 20, he's 23 and super, super ambitious.(13:09) Great, great kid. (13:10) And I was like, isn't it wild how, like, if you can accumulate like two million dollars in your lifetime, accumulate in like keep, you just stash it away, stash it away, stash it away. (13:20) You can just live off that, off the interest that provides.(13:25) So if it's, let's say you have a million dollars, it's 8% per year. (13:29) You're making 80k a year, right? (13:31) 160 for two million.

Alan Lazaros

(13:33) But yeah, I said one. (13:34) 80 for one million. (13:35) Yep.(13:35) 80 for, okay. (13:36) Nice. (13:36) So that, I never understood that.(13:41) It's not that complex, right? (13:43) No, no, but we can, can we break down why? (13:45) Sure.(13:46) Like, when you buy a stock, I like breaking things down into the smallest pieces so that people can get them. (13:56) You don't just invest two million dollars and then, and then make 160k. (14:00) There's things that happen, right?(14:01) There's dividends, there's all this stuff. (14:03) So let me break it down. (14:07) You take 20 years times 12 months, 240 months, and you multiply that by, let's say you take 1500 bucks a month, that's 360k plus it grows over time.(14:22) So you're looking at 360k, it probably would be like 700, at least double that 20 years later, if not triple or quadruple. (14:34) So again, I don't want to lose anyone with the math. (14:36) Let me bring it back.(14:38) When you buy a stock, you're buying a share of a company. (14:41) When you have a share of a company, that company has a perceived value. (14:44) It's like when you buy a house.(14:45) So imagine Kevin and I buy a house together. (14:48) We're going to buy a house and then we're going to renovate it. (14:50) We're going to make it better.(14:51) And we buy it for $100,000. (14:53) We're going to sell it for $500,000. (14:55) You help us invest the capital to buy the house.(14:59) So you own one 100th of the house. (15:01) Now you took your $1 and now you earn $5 for every $1. (15:06) Did that land?(15:07) Did I make that land?

Kevin Palmieri

(15:08) I'd say so.

Alan Lazaros

(15:09) Okay. (15:10) That's how the economy works. (15:11) Things get better over time, statistically speaking, not everything.(15:16) And then when you sell it for more later on, the investors make money. (15:24) So it's like banks. (15:25) That's why I say a savings account is dumb.(15:27) Because they say, oh, well, my savings account will give you 0.045%. It's like, who cares? (15:34) Like you shouldn't have that anyway. (15:36) You should just invest that in something that actually earns capital.(15:39) Again, at the end of the day, this isn't a finance podcast, but we do Health, Wealth & Love. (15:43) If you are consuming because you want to enjoy something versus investing, even if you buy a movie, one person is investing in R&R that's going to be enjoyable. (15:55) The other person is buying a movie because they like to have pleasure.(15:59) A consumer is for pleasure. (16:00) An investor is for long-term strategic value. (16:03) Yeah.

Kevin Palmieri

(16:05) Can we talk about the identity piece? (16:07) Also, my AirPods, I have 10% battery on my AirPods. (16:11) So we're going to see what happens here.(16:13) I don't know what's going to happen. (16:14) We'll figure it out. (16:15) The identity piece, that has been the hardest thing because I felt, although it was bad, what I was doing, it made me feel good.(16:25) Now I don't feel as good when I'm not as generous, but I do understand I can be generous more in the future. (16:32) And that's the investor prioritizing the future over the present.

Alan Lazaros

(16:36) So maybe that's the best. (16:39) Do you identify as an investor now?

Kevin Palmieri

(16:41) Yes.

Alan Lazaros

(16:42) Nice. (16:42) Okay. (16:42) When did that start?(16:45) Not recently. (16:47) When I first met you, you were like the ultimate consumer. (16:50) You were like a business's dream client.(16:53) For sure.

Kevin Palmieri

(16:54) Once you get me hooked, I don't know, within the last year probably. (17:00) It's recent.

Alan Lazaros

(17:02) So we used to talk about this all the time. (17:05) Did you just think I was talking?

Kevin Palmieri

(17:07) No.

Alan Lazaros

(17:07) I don't get it.

Kevin Palmieri

(17:08) I don't know if I get it. (17:09) I just knew I wasn't as far on the end as you. (17:13) I mean, look, how much money have I invested in the business, right?(17:17) We'll buy this and it'll help the camera or the mics or whatever. (17:21) I understand it. (17:22) I was never going to lead the charge on that.(17:24) That was never going to be me.

Alan Lazaros

(17:27) Yeah. (17:28) You think you have to... (17:30) When do you identify as stuff?

Kevin Palmieri

(17:33) There's two ways. (17:34) You either do what you do and you identify it as in advance or it crosses a threshold. (17:39) Like for me, it crosses a threshold where I'm a bodybuilder again.(17:42) I don't just... (17:43) One day I was like, cool, I'm a bodybuilder again. (17:45) I don't know why.(17:46) I don't know what happened. (17:48) I started squatting heavy probably.

Alan Lazaros

(17:49) Do you think it would be better for you to say I'm a bodybuilder again and then go do bodybuilder shit?

Kevin Palmieri

(17:54) I don't have an intelligent argument either way because I don't know. (17:58) Probably.

Alan Lazaros

(18:01) But I can ask you the same question. (18:04) Yeah, because it is detrimental to hold an identity that's completely delusional if you aren't going to follow through. (18:10) Well, right.(18:10) Yeah. (18:11) So I think that's what you're afraid of is have you met people that have an identity that isn't tied to any reality whatsoever?

Kevin Palmieri

(18:17) Oh, of course.

Alan Lazaros

(18:17) Yeah. (18:18) Of course. (18:18) And so you're afraid of that?

Kevin Palmieri

(18:20) I don't think I'm afraid of that. (18:21) It's not the way I'm... (18:23) The running joke is Alan will be on time two days in a row and he's like, dude, I'm the on-time kid.(18:27) I'm always on time. (18:29) It's like... (18:29) Take it easy.(18:30) No, no, I don't mean it. (18:33) That's our running joke is you'll do something three days in a row and you're like, dude, I got a streak going. (18:39) It's like you become the streak.

Alan Lazaros

(18:40) Yeah, for sure. (18:41) I got to do the streak first. (18:42) But I have to decide in advance to be the on-time kid before I'll be on time.

Kevin Palmieri

(18:46) Yeah. (18:47) I don't know. (18:47) I don't know.(18:48) For me, it's always worked that way. (18:50) I don't know. (18:51) I'm sure it's not optimal, but I don't know what it is.

Alan Lazaros

(18:56) Back to the peak performance thing. (18:57) I know we got to go here soon. (18:58) In book club, I asked everybody this question.(19:03) Don't you... (19:04) Do you understand... (19:06) This is why I love book club.(19:07) It's just a giant brainstorming session. (19:08) It's awesome. (19:09) Do you understand the implications, positive and negative of not identifying as a peak performer?(19:18) And people were like, well, no. (19:20) And then we talked about it. (19:24) I, for me, and again, I'm just going to speak for myself, but we're going to get into both sides of this.(19:29) I decided to get straight A's, and then I went and did it. (19:33) I decided to be a great student, and then I went and did it. (19:35) I decided to get into college, and then I went and did it.(19:37) I decided to be a pro gamer, and then I went and did it. (19:40) I never just stumble upon anything. (19:43) I decided to be with Emilia, and then I did it.(19:46) And I know that that's the weird one. (19:48) Like, I'm on the weirder end, the statistically abnormal one. (19:51) But I decided to be a podcaster long before I was a podcaster.(19:55) You joke and say I had a YouTube channel. (19:57) It was going to be a podcast.

Kevin Palmieri

(20:00) It was going to be. (20:01) What do you think is more detrimental, to think you're a peak performer and not be it, or to not think you're a peak performer and be it? (20:11) What's more detrimental?(20:14) They're both detrimental.

Alan Lazaros

(20:16) Neither one is optimal. (20:17) Did I say it right? (20:18) I don't know.(20:19) I think so. (20:20) To not be a peak... (20:21) To not identify as a peak performer, but to...(20:24) To be one. (20:25) To be one. (20:26) Or to identify as one and not be one.(20:29) That's not a fair comparison. (20:30) Definitely identify as one and not be one is worse. (20:33) For sure.(20:34) But you're talking to someone who cares deeply about accurate reality. (20:37) I don't think real fulfillment can happen in delusion. (20:40) I really don't.(20:41) That bubble always pops eventually. (20:44) We watched A Beautiful Mind not long ago, and Movie Club, and John Nash talked about his delusions, and he was a schizophrenic. (20:54) This is based on a true story.(20:56) And I think that no matter what, if you're... (21:03) I don't think real well-being can come from delusion. (21:10) Like, I don't think simulating sex with pornography can ever be deeply fulfilling in a way it could be in real life.(21:19) Someone you love. (21:20) It's no way. (21:21) If that was the case, then video games...(21:22) The most fulfilled people on earth would be playing video games. (21:26) The most fulfilled people on earth are not massive multiplayer video games. (21:29) Remember the WoW thing of South Park making fun of like, Mom, you know, get me my whatever.(21:35) And I've been down that dark road where your virtual life is better than your real life. (21:40) And that's dangerous. (21:42) It's very dangerous.(21:43) But anyways, back to the finance thing. (21:47) For the listeners, do you identify in advance as the thing? (21:50) And then get your behavior to be congruent with it?(21:53) Or do you do behaviors and then stumble upon identities? (21:57) Dude, that's detrimental. (21:59) That's like, not good.(22:00) What, do you just stumble upon being a baseball player? (22:02) That means you're not in control of your own future.

Kevin Palmieri

(22:05) I was forced to play baseball. (22:07) I didn't decide. (22:08) You weren't forced to do shit.(22:10) You did decide. (22:11) My mom made... (22:11) No, my mom made me play baseball, brother.(22:13) I had no choice in the matter. (22:15) All right, well, when do you make your choices? (22:17) I cried on the way to that.(22:19) I don't want to fucking play. (22:20) My mom made me play baseball. (22:21) I cried.(22:22) Oh shit. (22:23) Yeah, yeah, I didn't want to play. (22:24) Okay.(22:24) I just happened to be really good.

Alan Lazaros

(22:26) Okay. (22:28) All the adults listening. (22:30) Where's the expiration date on that though?(22:32) Where's the expiration date on drifting around hoping it works out?

Kevin Palmieri

(22:37) So I never locked in the identity. (22:38) That's probably why I didn't think I could be that good. (22:40) Because I never identified.(22:43) Did you decide to be a business owner? (22:46) No. (22:46) When did you make that decision?(22:49) When I quit my job. (22:50) It's like now I'm a business owner. (22:53) Honestly?(22:53) No, no. (22:54) I'm an entrepreneur. (22:56) I became a business owner when we started making money.(22:58) That's when I was a business owner.

Alan Lazaros

(23:00) What about a leader?

Kevin Palmieri

(23:04) Probably when we started like bringing on team. (23:08) But I never... (23:09) I didn't hold that identity for a while.(23:12) Because it was always like Alan's the leader. (23:14) I don't have to be.

Alan Lazaros

(23:16) Well, I think that the detrimental part of this is one of us had to identify as it in advance. (23:21) But it's always been you. (23:23) So I think I...(23:23) No, I know. (23:24) I know. (23:25) But for the listeners, they might not have that.(23:27) So they need... (23:28) If you want to create your own future, you have to think about... (23:32) It is actually...(23:33) Maybe we'll do an episode on this at some point. (23:35) But I had to identify... (23:38) I had to decide to become a great leader long before I learned leadership.(23:43) No one's going to stumble upon learning leadership. (23:45) You know what I mean? (23:46) You're not going to study leadership for no reason.(23:48) Well, what if they get put into a position and then as a reaction, they learn it? (23:52) Yeah. (23:52) I mean, I think that's way worse.(23:54) That's called reactive instead of proactive. (23:56) That's like a terrible fucking idea. (23:57) I didn't choose to be a good speaker.

Kevin Palmieri

(24:02) I didn't think I could be a good speaker. (24:04) When did you decide to be a great speaker? (24:06) When I got good.(24:08) I was like, I could be way better than this.

Alan Lazaros

(24:10) You might as well roll the fucking dice and hope for the best.

Kevin Palmieri

(24:14) I think that's kind of been a lot of my life, man. (24:16) Honestly.

Alan Lazaros

(24:17) Do you think that the majority of people are that way?

Kevin Palmieri

(24:20) Yeah, but I think... (24:24) Yeah. (24:24) I think I got lucky in a lot of regards with certain things.(24:27) And again, I show up and I work my face off and all that. (24:29) But a lot of the cards... (24:31) I went to fucking middle school with you and I went to high school with you and I was into fitness and you were into fitness and you respected me because I was jacked and I respected you because you were successful.(24:42) Like, I don't know, a lot of things that align up here.

Alan Lazaros

(24:44) Yeah, yeah, yeah. (24:45) Last piece, this identity. (24:47) When I say...(24:48) And this is a good test for everybody. (24:49) When I say I intend to build a multi-million dollar business, does that sound arrogant to people?

Kevin Palmieri

(24:54) I would say to some, yes.

Alan Lazaros

(24:57) To some.

Kevin Palmieri

(24:58) But I think that's more...

Alan Lazaros

(24:59) I think this is why people say, like, don't tell your goals to other people. (25:03) Because you're just going to come off... (25:04) Kev said this to me once.(25:05) He said, it's not arrogant if you've already done it. (25:08) It's like, to me, that seems like bragging. (25:10) Just talking about all the awesome shit I've already done.(25:12) I like talking about what I'm going to do.

Kevin Palmieri

(25:15) But it's just in a moment of time where most people... (25:18) How many people came to your bodybuilding show that you said you were going to be a fitness model when you were younger? (25:25) Zero.(25:26) That. (25:27) People just don't stick around long enough to actually watch the dream become a reality. (25:32) So they think you're nuts.

Alan Lazaros

(25:33) But investors think about the future. (25:35) I'm not worried about what we've already accomplished.

Kevin Palmieri

(25:37) Awesome. (25:37) I know.

Alan Lazaros

(25:37) And of course you learn from it, right? (25:39) Of course. (25:39) I was on with a business owner yesterday.(25:41) She started a company in 2003. (25:44) If you're listening, shout out to you. (25:46) And she was talking about...(25:47) She's from Singapore. (25:48) And she was talking about how different it was back then. (25:50) It was so cool.(25:51) But my point is, I said, I'm learning from your past, but I don't... (25:54) That's all done now. (25:55) We're going future, baby.(25:57) Future. (25:58) Investors think about the future. (25:59) Kev, you're future oriented now.(26:01) I hope you're not stumbling upon success now.

Kevin Palmieri

(26:04) I hope you're... (26:04) No.

Alan Lazaros

(26:04) No, not anymore. (26:05) But that, dude, it's a new life.

Kevin Palmieri

(26:08) So teach the way. (26:11) Teach the way, man. (26:12) I think you have to start with where you believe the most.(26:16) I'm certain of that. (26:17) Okay. (26:18) I'm certain of that.(26:19) I am so excited for the first time ever to be able to deploy money where I want to put it, because I know I know how. (26:28) Dude, you know why I invested before? (26:31) I had a buddy who was like, dude, you should really invest in stocks.(26:33) I was like, which ones? (26:34) He's like, Apple.

Alan Lazaros

(26:36) Cool.

Kevin Palmieri

(26:37) I have enough for five shares.

Alan Lazaros

(26:40) End of conversation.

Kevin Palmieri

(26:41) I do appreciate the honesty. (26:42) I really do. (26:42) What do I do?(26:43) E-trade here. (26:44) How do I go about acquiring some stocks? (26:46) How did you do it?

Alan Lazaros

(26:47) What was your brokerage?

Kevin Palmieri

(26:48) I have... (26:49) You think I fucking know? (26:50) Whatever one was the cheapest, probably.

Alan Lazaros

(26:52) Okay. (26:53) Yeah. (26:54) What's your takeaway?(26:55) Let's do that. (26:56) What's your takeaway for each of us? (26:57) At the end of the day, my take...

Kevin Palmieri

(26:59) Yeah, you go first. (27:00) It's... (27:01) I'm going to say it's nearly impossible to be an investor in something you don't believe in.(27:07) Yeah. (27:07) And if you don't believe in your own skills, you're not going to have an investor mindset, because you're going to be so scarce on the day-to-day that you can't imagine time is your friend. (27:17) That.(27:18) That's my takeaway.

Alan Lazaros

(27:21) Okay. (27:23) Okay.

Kevin Palmieri

(27:24) What do you got?

Alan Lazaros

(27:25) Two people. (27:26) Person A, person B. (27:27) Person A believes in their own ability to create a bigger, better, brighter future, so they invest their time, effort, and money to make sure tomorrow is brighter than today.(27:40) That's an investor. (27:41) Person B doesn't believe the future is going to be within their control, so they never take control. (27:48) So they squander their time, effort, and money, and they end up in a pool of regret.(27:54) You got to be the first one. (27:56) Like, you got to be the first one. (27:58) There's not even an argument there.(27:59) And I know those are two extremes, but they're kind of not. (28:02) How can two people go through the same shit, and one of them ends up super successful, happy, healthy, wealthy, and in love, and the other person ends up in and out of rehab? (28:11) It comes down to the mindset and the people you surround yourself with, and it's always going to come down to that.(28:18) Like, you're an investor now, but it's because you got around investors. (28:23) You and I have interviewed multi-millionaires, one billionaire. (28:26) They're all investors, man.(28:28) There's no multi-millionaire non-investors, and we weren't taught that. (28:33) Like, no one taught us that. (28:34) It's not actually that complicated.(28:36) It's simple. (28:36) It's just hard to execute against because you have to care more about the future than you do today, and human nature is to care more about today. (28:43) I've had to override that my entire life.(28:46) Your dorsolateral prefrontal cortex is your ability to decide to suffer in advance for a greater end state. (28:51) I do that all the time. (28:54) Always.(28:54) Of course, always. (28:55) To me, it makes no sense not to do it because, and we're going to talk about game theory at some point, paradox next episode, but if the average life expectancy is 80, you better prepare for it. (29:10) I feel like a game show host with this microphone.(29:13) Dude, if average life expectancy was only 45, I'd play this game very different.

Kevin Palmieri

(29:18) Oh, YOLO. (29:19) I got four years to live. (29:20) I'd be...

Alan Lazaros

(29:22) We wouldn't be having this conversation. (29:24) Think about it. (29:26) Maybe.(29:27) No, not a chance. (29:29) Because we're investing today. (29:36) What would you do?

Kevin Palmieri

(29:38) God, what an episode that would make for.

Alan Lazaros

(29:40) Rocky mountain climbing, I'm in.

Kevin Palmieri

(29:44) I almost said, would you ride a cowboy? (29:46) Would you ride a bull?

Alan Lazaros

(29:49) That's to be continued. (29:51) To be continued. (29:53) Yeah.(29:54) Investor mindset, finance. (29:56) Love it.

Kevin Palmieri

(29:57) Cool. (29:58) It's a dumb song. (29:59) I can't stand it.(30:00) I can't stand it. (30:01) All right. (30:01) Next Level Live is April 11th from 10am till 4pm.(30:05) If you want to become more of an investor, invest $47 into yourself. (30:11) I guarantee you will make that back in knowledge, in awareness, in consistency, in commitment, in accountability, in self-reflection, in self-awareness, all this stuff. (30:21) We'll have the link below.(30:22) The website's live. (30:23) We're only taking 30 people. (30:24) We're done with the, let's get as many people as humanly possible.(30:27) We want 30 people who are committed, who are going to be there for the whole thing, who really want to grow.

Alan Lazaros

(30:32) Yeah. (30:33) Do not sign up unless you're going to be there and be engaged and engage. (30:38) And if for whatever reason, 10am to 4pm, you have to miss like an hour.(30:43) We're going to upload the recording of the live sessions into a private Google Drive folder and only your email will have access. (30:49) If you sign up, the website is done. (30:51) The link will be in the show notes.(30:51) $47. (30:53) If you aren't willing to invest $47 in yourself, I can't even, I can't even. (30:59) I bought a course not three weeks ago for 1500 bucks.(31:02) Okay. (31:03) I'm telling you what we're going to present is definitely better than that course I bought. (31:06) I'm certain of that.(31:08) 47 bucks. (31:09) It's not cheap because it's cheap. (31:11) It's cheap because we want you there.(31:13) We want to help you, listener. (31:15) $47 for you, 10am to 4pm. (31:17) It's going to be awesome.(31:19) It is going to be awesome. (31:19) All right, cool.

Kevin Palmieri

(31:20) As always, we love you. (31:21) We appreciate you. (31:21) Grateful for each and every one of you.(31:23) And if you are as committed as you say you are to getting to the next level, make sure you tune in tomorrow because we'll be here every single day to help you get there.

Alan Lazaros

(31:29) Keep leveling up to reach your full potential. (31:31) Next Level Nation.

Kevin Palmieri

(31:33) Thanks for joining us for another episode of Next Level University. (31:37) We love connecting with the Next Level family.

Alan Lazaros

(31:40) We mean it when we say family. (31:42) If you ever need anything, please reach out to us directly. (31:45) Everything you need to get ahold of us is in the show notes.(31:48) Thank you again, and we will talk to you tomorrow.