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Speaker 1: Welcome to Had of Money. I'm Joel Matt's and today

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Speaker 1: we're talking make more money, Do More Good with Derrick Kenney. Yeah, so, Joel,

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Speaker 1: I would argue that money isn't inherently like a good

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Speaker 1: or bad thing.

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Speaker 2: You know, it's not holy, it's not evil. But I

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Speaker 2: do think it comes down to what you do with

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Speaker 2: it that makes the world a better or a worse place.

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Speaker 2: I think that's not the heart of Derek Kenney's best

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Speaker 2: selling book Good Money Revolution. What are you actually doing

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Speaker 2: with your money? You know, like, what action are you

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Speaker 2: going to take? That's the big question. And we're joined

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Speaker 2: by Derek today, who works to inspire individuals to use

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Speaker 2: their wealth in order to align with their personal values

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Speaker 2: and to make more money so that they can create

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Speaker 2: even more of a positive impact out there in the world.

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Speaker 2: We think hopefully folks will be motivated to make a

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Speaker 2: bigger difference after hearing our conversation today. But Derek Kenny,

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Speaker 2: thank you so much for joining us on how to Money.

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Speaker 3: Hey, my pleasure, Matt and Joel. It's a pleasure to

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Speaker 3: be with you both, and I'm looking forward to this conversation.

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Speaker 3: Thanks for having me.

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Speaker 1: Of course, Yeah, us too. Derek. First question we ask

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Speaker 1: everyone who comes on is what do you like to

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Speaker 1: suplourgeh On gives us a little insight into you, but

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Speaker 1: also we know you're saving your investing for your future,

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Speaker 1: but you also got to like spend money on fun

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Speaker 1: stuff in here and now too. What's that for you?

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Speaker 3: Well, it's interesting. So I will readily splurge on of course,

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Speaker 3: hour Patch kids, those thick hershey bars that I love.

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Speaker 3: I just love those things, man, They're so good. Really,

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Speaker 3: anything that connects me better to my kids, you know,

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Speaker 3: for example, if one of my kids comes and says, hey,

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Speaker 3: could we can we download this or do this or that,

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Speaker 3: and we're going to spend time together in the geeb

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Speaker 3: maybe listening to it. I'm all about that. But it's

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Speaker 3: interesting though. I was thinking a little bit more deeply though.

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Speaker 1: You know.

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Speaker 3: The book is about making more money doing more good,

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Speaker 3: and it's really a reflection of how I am and

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Speaker 3: my deepest part of my soul. And so I would

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Speaker 3: readily splurge to support a cause that somebody else is

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Speaker 3: involved in. You know, if I was going to spend

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Speaker 3: money kind of on myself or choose to to donate

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Speaker 3: it or support a charity. I would do that for

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Speaker 3: some reason. It just just motivates me. But U but

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Speaker 3: also I mean, I guess a slurge might be eating

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Speaker 3: out a good prime rib somewhere, a good thing.

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Speaker 1: You.

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Speaker 3: Yeah, that would be that'd be a nice splurge.

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Speaker 2: There, No, no, I think that's I think that's great.

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Speaker 2: It's very on points as far as being generous with others.

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Speaker 2: But you know, I also like the splurges on candy,

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Speaker 2: different things to connect you with your kids.

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Speaker 1: That's yeah, patch kids awesome. That's a double way mee

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Speaker 1: because you get to Joel's all about it. Enjoy them yourself,

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Speaker 1: but also enjoy them with your children. That's a I

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Speaker 1: like that.

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Speaker 2: Derek. Let's kind of get to the like. One of

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Speaker 2: the core thesis of your book is the fact that

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Speaker 2: you say that money is like a good thing, but

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Speaker 2: not everybody feels that way. Like in our culture today,

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Speaker 2: there's a lot of wealth and money and people who

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Speaker 2: are rich are evil. Can you present in arguments against that?

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Speaker 3: Well, So this is where this came from. So I

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Speaker 3: built one of the nation's top financial planning companies over

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Speaker 3: the past twenty five years. I sold it a couple

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Speaker 3: of years ago and What I found is is I

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Speaker 3: would talk to people, this vibe would come out in

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Speaker 3: their conversation. They would say things like, well, Derek, you know,

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Speaker 3: if I'm too successful, people won't like me. And if

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Speaker 3: I make too much money, people will think maybe I

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Speaker 3: cheated my way to do it. Or you know, these

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Speaker 3: people that own major, major companies that provide great value

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Speaker 3: to people, those people have to be oppressing their workers

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Speaker 3: and hogging all the money for themselves. And as I

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Speaker 3: heard this more and more, I was beside myself because

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Speaker 3: I've always enjoyed money. I've enjoyed making it and investing it.

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Speaker 3: And what led me to then build a business to

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Speaker 3: do that for other people? And I began to delve

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Speaker 3: deeper and I realized there's sort of this cultural vibe

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Speaker 3: that says, you know, in the Bible, it talks about

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Speaker 3: the love of money is the root of all evil.

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Speaker 3: And I think we can take that way wait, wait, wait,

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Speaker 3: way way too far. And it's not saying that the

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Speaker 3: love of money causes your life to be terrible and

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Speaker 3: you're going to lose everything. It's just what are you

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Speaker 3: putting your belief in and all of your hope And

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Speaker 3: is it money or is it what money can do

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Speaker 3: for you. And so that's where this kernel was born

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Speaker 3: out of. Was don't say to yourself, I don't want

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Speaker 3: to make money because I don't want to be viewed

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Speaker 3: as that evil, vile, greedy person. Instead, let's reframe that

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Speaker 3: and kind of rescript the model here and say, go

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Speaker 3: make a lot of money by adding a lot of

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Speaker 3: value to people's lives, but then use that money for good.

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Speaker 3: And then what happens when we do that? It motivates

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Speaker 3: you in a fresh way. It's the antidote to burnout.

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Speaker 3: It's the antidote to lack of meaning and purpose by

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Speaker 3: when you have a cause. We'll talk more about this

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Speaker 3: as we get deeper into this, but when you have

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Speaker 3: a cause that you care deeply about and motivates you

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Speaker 3: to think outside of yourself, and you want to do

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Speaker 3: everything you can to help that cause and help a

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Speaker 3: person impacted by that cause improve their lives.

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Speaker 1: So I am curious about like the pursuit of money.

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Speaker 1: You're saying, hey, even pursuing more money not evil into itself,

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Speaker 1: as long as it's not maybe your core purpose. Is

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Speaker 1: there a limit though, to that kind of thinking? I

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Speaker 1: think we've just seen so many people say, well, money's

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Speaker 1: not bad, so let me go make a lot of it.

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Speaker 1: And some of those people have been maybe lost to

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Speaker 1: what I might call the perpetual hamster wheel of living

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Speaker 1: to make money. And a lot of those people then

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Speaker 1: have regrets on their deathbed, like I did make making

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Speaker 1: money too central to my life and I probably should

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Speaker 1: have lived in a more well rounded way. Like I

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Speaker 1: don't know, what would you say.

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Speaker 3: To that, Well, it's funny you say that because one

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Speaker 3: of my favorite movies, you know, Brave Heart and other

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Speaker 3: movies like that, there's the main character in the movie

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Speaker 3: that says, if only I had lived a life of

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Speaker 3: more meaning, and if I had been kinder, and all

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Speaker 3: these regrets. And really what the book's central purposes is

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Speaker 3: to be against regret. We're against living a regretful life.

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Speaker 3: And so I am highly motivated by money, and it's

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Speaker 3: what drives me to be a good financial advisor. And

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Speaker 3: I think, you know, build and new worth and so forth,

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Speaker 3: you have to really enjoy it. But what I find

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Speaker 3: is when I first began building my net worth and

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Speaker 3: I set a goal to become a millionaire, it was

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Speaker 3: all about becoming a millionaire. And that's the only lens

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Speaker 3: I saw through and what it led me to do

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Speaker 3: then was maybe make some shortcuts in my relationships and

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Speaker 3: not spending as much time with family and friends. I

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Speaker 3: was just driven. I was a driven puppy to achieve

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Speaker 3: this goal, and I wanted it now and didn't want

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Speaker 3: to wait for it. But then when I had this

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Speaker 3: epiphany that awakened my eyes to say, man, if I

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Speaker 3: tie a cause to my cash and profits to my

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Speaker 3: purpose and a movement to my money, you know, meaning

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Speaker 3: to it, that made it palatable of like, why do

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Speaker 3: I want to go make money? And it wasn't just

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Speaker 3: the burnout of I just want to build a bulging

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Speaker 3: bank account. Now there was a real purpose tied to it.

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Speaker 3: And once I did that, now I don't believe that

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Speaker 3: there's any limit. You know, how much is enough? I

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Speaker 3: don't know. You know, that's up to each person to

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Speaker 3: figure out. But what I do know is you can't

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Speaker 3: outgive yourself. You know, when there's a cause and there's

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Speaker 3: something you're passionate about, let that be the fuel to

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Speaker 3: motivate you. Because you're either going to be a driven,

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Speaker 3: lonely person or a driven person who is making the

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Speaker 3: world better. And when you lay your head on the

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Speaker 3: pillow at night. One of them lets you sleep a

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Speaker 3: whole lot better.

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Speaker 2: All right, So, well, you said you sold your financial

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Speaker 2: planning company. I mean you, I'm curious like as far

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Speaker 2: as like when it comes to like your own personal journey,

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Speaker 2: and you just shared that you got to a point

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Speaker 2: to where like your eyes were open and it seemed

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Speaker 2: like you sort of pivoted. Was that difficult for you

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Speaker 2: to do? Like, was it difficult for you to sell

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Speaker 2: your company and sort of change your purpose or was

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Speaker 2: that something that you were motivated to do, Like were

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Speaker 2: you wanting to get out of it? I'm curious what

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Speaker 2: caused that change to come about?

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Speaker 3: Yeah, two things. Let me go back and take you

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Speaker 3: back to a twenty six year old who was a

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Speaker 3: brand new financial advisor. So I was stuck in a

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Speaker 3: dead end job at this very small technology company and

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Speaker 3: full worth and I got passed over for a big

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Speaker 3: bonus and two other people in the company did as well.

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Speaker 3: And it was this moment where I had to think

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Speaker 3: to myself, do I want to let myself be dictated

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Speaker 3: my value by someone else? And typically that's going to

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Speaker 3: be a four percent value increase every year with a

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Speaker 3: raise or do I want to bet on myself? And

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Speaker 3: so I'm twenty six. I didn't have a whole lot

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Speaker 3: of risk. There wasn't a whole lot of money in

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Speaker 3: my own bank account, so I chose the financial advisor path.

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Speaker 3: I saw my parents struggle, their friends struggle, and I

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Speaker 3: didn't want to see that anymore. I wanted to help

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Speaker 3: people like my parents do better financially, and so I

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Speaker 3: went back and got my licenses while I was working

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Speaker 3: full time and did that. But I didn't have the

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Speaker 3: gene pool of the popular kids. I didn't have all

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Speaker 3: the community contacts, the country club membership. I look like

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Speaker 3: a thirteen year old is really what I look like,

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Speaker 3: And here I'm asking people to invest with me. But

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Speaker 3: I had this passion, and the passion was I wanted

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Speaker 3: to go back to my alma mater high school, because

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Speaker 3: nobody ever did. When I was a senior in high school,

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Speaker 3: no successful business person ever came back and gave us

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Speaker 3: a vision as to what our future could look like.

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Speaker 3: As a high school student, they always said, just take

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Speaker 3: your math and science and history and everything will work

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Speaker 3: out fine. Well, nobody gave us a sense of how

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Speaker 3: do these things really work? In the real world, and

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Speaker 3: I said, that's just not right. Talked to the principal

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Speaker 3: and he said, yeah, we'd love to have you. So

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Speaker 3: I came armed with a fifty dollars Amazon gift card

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Speaker 3: and a twenty five dollars Amazon gift card, and I

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Speaker 3: gave the twenty five dollars one to a student of

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Speaker 3: the month and the fifty dollars one to a teacher

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Speaker 3: of the month. And it was my small, itty bitty

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Speaker 3: way of breathing life into these people, giving them a

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Speaker 3: sense of how much they mean to people, and to

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Speaker 3: the students, letting them know how bright their future was,

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Speaker 3: and to the teacher, letting them know that, you know,

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Speaker 3: you're the type of teacher that on Thanksgiving and Christmas

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Speaker 3: is years from now, it'll be your name that gets

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Speaker 3: brought up as having made that impact on students' lives.

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Speaker 3: And I thank you for that. Well, I didn't think

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Speaker 3: much of it, but we took a picture of the

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Speaker 3: teacher and the student, myself and the principal and put

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Speaker 3: this in the newspaper back in the day, well a

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Speaker 3: couple months ago. By I'm doing this pretty consistently. I

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Speaker 3: get a phone call and there's a woman that says,

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Speaker 3: and what she said to me completely changed how I

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Speaker 3: thought about my business. And she said, Derek, we know

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Speaker 3: you're young, but we want to invest our portfolio with you.

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Speaker 3: And I should not have set it this way, but

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Speaker 3: I said, why, I'm brand new, don't really know what

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Speaker 3: I'm doing. She said, we know you've got great credibility

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Speaker 3: we see in the community. But she said, we want

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Speaker 3: to work with you because you care about what we

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Speaker 3: care about. And it was those words that changed everything

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Speaker 3: for me, and I realized, wait a minute, this is

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Speaker 3: not about being the best looking, or the smartest, or

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Speaker 3: having the most contacts and relationships. It's simply about me

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Speaker 3: caring about what the people I want to work with

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Speaker 3: also care about. And so I began to do these

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Speaker 3: recognitions at all the local high schools, even some of

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Speaker 3: the elementary schools, and that lady became my first million

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Speaker 3: dollar client. And what it taught me was people are

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Speaker 3: drawn like a magnet, first of all, to a professional

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Speaker 3: that knows what they're doing. You can't give money and

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Speaker 3: be a complete loser in what you're doing, Okay, you

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Speaker 3: just can't. You need to be a pro and be

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Speaker 3: a special stat it. But when you can solve people's

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Speaker 3: financial pain points, and you have a cause that when

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Speaker 3: they work with you, they feel like they're part of

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Speaker 3: something bigger. When you combine those two powerful elements, it

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Speaker 3: becomes like a magnet that literally just sucks people in

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Speaker 3: who you want to work with. And that's what happened

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Speaker 3: and how we built our practice so quickly.

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Speaker 2: So you yeah, I mean it sounds like you had

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Speaker 2: that vision, You had that mission kind of from day one,

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Speaker 2: as opposed to sort of an evolution of your own

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Speaker 2: actual I guess personal journey.

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Speaker 3: Yeah. Yeah, it was funny because I enjoyed, you know,

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Speaker 3: even as gosh, I was even in high school. I

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Speaker 3: would set goals every year and I still have some

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Speaker 3: of them in a file downstairs. I go back and

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Speaker 3: look at them periodically. But I was just a very

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Speaker 3: gold driven person, and I realized when it came to money,

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Speaker 3: it was so much fun because being a financial advisor

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Speaker 3: was like this ultimate win win job. It was like

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Speaker 3: the more money that I help you, the client make,

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Speaker 3: the more money I get to make. It was this

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Speaker 3: beautiful thing. We're both in the same boat rowing together.

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Speaker 3: It was amazing that concept. And so what happened was

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Speaker 3: what I realized if I want to really grow this thing.

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Speaker 3: People loved a cause, and so mine happened to be

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Speaker 3: supporting and investing in young people. So we would have

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Speaker 3: like our holiday event every year and a nice place

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Speaker 3: to recognize and really make our clients feel valued VIPs.

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Speaker 3: But I would also have the principle of one of

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Speaker 3: the schools be there that I would give these awards out,

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Speaker 3: and we'd even have a few students sometimes, and I

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Speaker 3: got to tell you, I thought they were there to

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Speaker 3: hear me talk, but they weren't. The highlight was hearing

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Speaker 3: these students talk about, Hey, because you're working with this

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Speaker 3: group and they're recognizing us, you know, this is the

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Speaker 3: impact that's having on us. And the teachers talked about

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Speaker 3: that of the principle, and what it happened was it

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Speaker 3: became like this moat around our business because every day

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Speaker 3: I learned that all of my clients were also getting

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Speaker 3: prospected by other financial advisors to become their next client.

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Speaker 3: And one of the best ways to defend against that

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Speaker 3: was not to promise high returns and lower fees and

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Speaker 3: all the things that people playing that comparison financial advisor game.

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Speaker 3: Instead was provide great service, even charge at a premium

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Speaker 3: for what I was doing. But the cause is what

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Speaker 3: drew people in. It made especially busy people who want

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Speaker 3: to give but they don't know how and they don't

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Speaker 3: have the time to do it. It allowed them to

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Speaker 3: feel like they were part of something bigger by working

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Speaker 3: with us. That's cool. Yeah.

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Speaker 1: I would say, Derek that our country is a fairly

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Speaker 1: philanthropic country. Individuals tend to be, by and large, reasonably generous,

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Speaker 1: at least when compared to what happens in many other

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Speaker 1: countries around the world. And one of the things you said,

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Speaker 1: although I don't know, that might be changing a little

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Speaker 1: bit and probably has, it seems like over the last

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Speaker 1: few years where maybe they're more mega donors and fewer

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Speaker 1: small time But you say that giving money away produces

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Speaker 1: real and lasting happiness, which for all of the I mean.

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Speaker 1: Arthur Brooks writes a column in The Atlantic about happiness.

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Speaker 1: How you get how you become happy? Right? And is

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Speaker 1: that the ticket? Is it giving money away? I mean,

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Speaker 1: is that is that how we get there?

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Speaker 3: I think it's one of the ways. And I think

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Speaker 3: it depends on what your individual motivation is. For example,

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Speaker 3: if you like to make money like I just enjoy

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Speaker 3: making money. Then for me, part of the joy is

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Speaker 3: giving money away, specifically anonymously, if at all possible. That's

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Speaker 3: even more fun. But there was a study done a

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Speaker 3: guy named doctor Michael Norden. He was a I believe

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Speaker 3: a Harvard professor. He did this experiment on a college

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Speaker 3: campus a couple of years ago. I right about this

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Speaker 3: in the book. And he gave a certain group of

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Speaker 3: students a couple envelopes and they each had twenty dollars

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Speaker 3: in them, and to the one group, he said, by

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Speaker 3: five o'clock today, I want you to spend this on yourself.

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Speaker 3: You can buy whatever you want for twenty dollars. Then

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Speaker 3: we're going to have you come back and report how

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Speaker 3: you feel about it. Okay. Then the second group of students,

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Speaker 3: he gave them each an envelope with twenty dollars in it,

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Speaker 3: and he said, now I want you to give this

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Speaker 3: money away to someone. You could buy something for them,

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Speaker 3: you could just give it to them, you could do

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Speaker 3: something with them, and then report back at five o'clock

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Speaker 3: how you felt about it. So the day goes on,

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Speaker 3: they do what they do with their money. They come

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Speaker 3: back at five o'clock and doctor Norton asks. The group

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Speaker 3: of students who were asked to spend it on themselves,

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Speaker 3: and some bought like a music CD or some candy

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Speaker 3: or this kind of stuff, but none of them felt

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Speaker 3: any noticeable increase in happiness. It was just I bought something.

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Speaker 3: It was nice, but it didn't generate any type of

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Speaker 3: change in their happiness levels. Now, this other group talked

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Speaker 3: about what they did. You know, one bought a Teddy

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Speaker 3: Bear for a friend, one took their friend out for

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Speaker 3: snow cones, one bought some candy for a friend, et cetera,

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Speaker 3: et cetera. And surprisingly, two days later, that group still

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Speaker 3: felt an elevated level of happiness. And that was just

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Speaker 3: based on someone else giving them twenty dollars to give

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Speaker 3: away to someone else. And so the whole concept of

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Speaker 3: that experiment was that when you do give and you

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Speaker 3: do something for someone else, it gives you this lasting,

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Speaker 3: elevated happiness level. And one of the things I mean,

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Speaker 3: I think we can all relate to this is let's

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Speaker 3: say that you know somebody would really like something, and

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Speaker 3: let's say that it's a football, okay, and you anonymously give.

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Speaker 3: You might leave it on their mailbox or on their

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Speaker 3: door and you know they're gonna get it, and there's

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Speaker 3: excitement in the back of your mind, like they're gonna

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Speaker 3: see this and they're probably gonna call and wonder who

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Speaker 3: did it. And when we've ever done that in the past,

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Speaker 3: it's always kind of fun because and again this is

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Speaker 3: in all humility. The giving piece is just what I

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Speaker 3: enjoy doing. Our family just loves this, and so because

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Speaker 3: it generates such great memories, but it also we just

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Speaker 3: find them more. Or you give, opportunities tend to come

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Speaker 3: your way. So in our Sunday school class back in

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Speaker 3: the day, there was a couple who was really struggling

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Speaker 3: financially and all of us kind of chipped in to

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Speaker 3: help them put the deposit down for a new roof. Okay,

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Speaker 3: and all of us did this anonymously, nobody, nobody fest

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Speaker 3: up to it. Well, they happen to call me and say, hey,

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Speaker 3: do you know anything about this? And I have never

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Speaker 3: had a better poker face than than any time in

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Speaker 3: my life. So I lied for the greater good, and

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Speaker 3: that's what I what I hold on to here. But

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Speaker 3: it was so fun just to see the excitement and

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Speaker 3: to see how when someone else impacts you, how good

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Speaker 3: it makes them feel. But now I've learned it's really

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Speaker 3: the giver that receives the most blessing. So to me,

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Speaker 3: it's more fun. So the whole model of the book

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Speaker 3: is I call it good money revolution, meaning when you're

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Speaker 3: you're making more money, then you can do more good.

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Speaker 3: And then when you're doing more good and motivate you

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Speaker 3: to make more money, and the cycle continues and continues.

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Speaker 2: So truly you do believe then that the more money

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Speaker 2: you have that's going to lead to greater levels of happiness.

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Speaker 2: Not because you are self centered and you're spending it

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Speaker 2: on yourself to buy a CD which feels a new

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Speaker 2: album today, or some times music subscription there you go,

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Speaker 2: but because you're actually spending it on others. Not that

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Speaker 2: somebody would do this, but someone could hear this and say, okay,

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Speaker 2: well I'm just going to give away everything. I'm going

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Speaker 2: to live in poverty. Like I guess someone could take

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Speaker 2: it to an extreme. Have you seen in your research,

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Speaker 2: given your clients, given you personally, that there is I

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Speaker 2: guess a type of diminishing return to the happiness that

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Speaker 2: you would receive by giving away more and more money.

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Speaker 3: Yeah, there could be. What I do is I tie

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Speaker 3: it back to my motivation. Okay. So I'll give you

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Speaker 3: an example. There is a pastor that we have an

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Speaker 3: arrangement with and he does a lot of overseas mission work,

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Speaker 3: and so we just told him, whenever you need a

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Speaker 3: ticket to pay for you and your wife to go

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Speaker 3: over there to do your mission work, we will pay

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Speaker 3: for that ticket. Okay. Now, inevitably, the month when that

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Speaker 3: email request comes out of the blue has been a

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Speaker 3: down month for me financially, okay. And so what that

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Speaker 3: predecision allows me to do then is say yes, and

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Speaker 3: then we figure out how to do it. And what

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Speaker 3: I find is giving can be structured in different ways.

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Speaker 3: Some people like to give based on money they already have.

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Speaker 3: Now that what I'm going to say next is going

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Speaker 3: to sound crazy, crazy, but it may connect with a

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Speaker 3: few of your listeners. Some people like to give with

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Speaker 3: money they don't yet have, and so they make the

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Speaker 3: commitment to give, and now they know, I need to

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Speaker 3: put my butt in gear to grow my business hit

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Speaker 3: this goal, so I can fulfill that commitment. It's kind

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Speaker 3: of called backing, you know, putting yourself against the wall,

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Speaker 3: burning the ships. And you got to make this happen.

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Speaker 3: So that can be a way where you're both giving,

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Speaker 3: but also now you have a sudden fire underneath you

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Speaker 3: to motivate you. I've got to go grow this thing

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Speaker 3: to do and make the commitment that I made. So

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Speaker 3: what I find is whatever motivates you is what to

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Speaker 3: tie into. So let's say you're listening right now and

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Speaker 3: you say, I really feel like all the plastic bottles

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Speaker 3: in the ocean it's just wrong. I want to do

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Speaker 3: something about that. Or when I pull up to the

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Speaker 3: stop line and I see a homeless person with a

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Speaker 3: cardboard sign, I want to do something meaningful about that.

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Speaker 3: For me, I look back and say, I wish people

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Speaker 3: would have invested more in me when I was in

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Speaker 3: high school. Nobody did, and so I don't want that

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Speaker 3: to occur to somebody else. And so that's why investing

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Speaker 3: in young people is so passionate. So once you figure

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Speaker 3: that out, then it's not a matter of well, I've

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Speaker 3: got to wait until I've got a thousand dollars. I've

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Speaker 3: got to wait until I've got ten thousand dollars to

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Speaker 3: make any impact. What I'm going to share with you

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Speaker 3: flies in the face of how math typically works. Okay,

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Speaker 3: So we need to suspend math for a second, because

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Speaker 3: most people believe that the future value of money is

434
00:22:04,560 --> 00:22:06,800
Speaker 3: always greater than the present value. I mean, that just

435
00:22:06,840 --> 00:22:10,120
Speaker 3: makes sense, right. But what we find is when people

436
00:22:10,280 --> 00:22:14,960
Speaker 3: wait to give, there is a cost of impact that occurs,

437
00:22:15,400 --> 00:22:19,000
Speaker 3: because if I give a smaller amount today, there's an impact.

438
00:22:19,280 --> 00:22:22,439
Speaker 3: If I wait, there's an impact that's lost, even though

439
00:22:22,480 --> 00:22:24,919
Speaker 3: the impact may be greater down the road. So when

440
00:22:24,960 --> 00:22:26,879
Speaker 3: it comes to giving, what I would tell people is

441
00:22:27,680 --> 00:22:32,440
Speaker 3: the present value is always greater than the future value.

442
00:22:32,520 --> 00:22:35,520
Speaker 3: If you have five dollars today and you're tight on

443
00:22:35,560 --> 00:22:39,560
Speaker 3: your budget, when you hold that five dollars bill in

444
00:22:39,600 --> 00:22:43,639
Speaker 3: your hand, you have control. You may not feel like

445
00:22:43,760 --> 00:22:46,040
Speaker 3: any other part of your life is in controller. Now

446
00:22:46,040 --> 00:22:48,280
Speaker 3: you're totally out of control. Everybody else is telling you

447
00:22:48,359 --> 00:22:51,000
Speaker 3: what to do with your life. But without five dollars,

448
00:22:51,080 --> 00:22:54,359
Speaker 3: you have a moment where you get to choose what

449
00:22:54,520 --> 00:22:57,439
Speaker 3: you do with it. And that is powerful. That's agency

450
00:22:58,080 --> 00:23:00,840
Speaker 3: at its highest level. So if you want to give

451
00:23:00,840 --> 00:23:03,440
Speaker 3: the five dollars or ten dollars, twenty dollars, the key

452
00:23:03,480 --> 00:23:06,640
Speaker 3: is that you do it, and even better, enroll your

453
00:23:06,720 --> 00:23:08,679
Speaker 3: family in it. If you have young kids, this is

454
00:23:08,800 --> 00:23:11,840
Speaker 3: especially powerful to bring your kids around the dinner table

455
00:23:11,840 --> 00:23:15,320
Speaker 3: and say, hey, we've set a family goal. We're going

456
00:23:15,359 --> 00:23:17,720
Speaker 3: to give this twenty dollars or fifty dollars, whatever the

457
00:23:17,720 --> 00:23:20,960
Speaker 3: dollar amount is, even five dollars. Is there a cause

458
00:23:21,320 --> 00:23:24,160
Speaker 3: kids that you care about. Is there a family at

459
00:23:24,160 --> 00:23:26,960
Speaker 3: school that you've heard about them may be struggling. Well,

460
00:23:26,960 --> 00:23:30,040
Speaker 3: now your kids have their giving antennas up, and you're

461
00:23:30,160 --> 00:23:33,840
Speaker 3: training them in very, very practical ways that they can

462
00:23:33,920 --> 00:23:36,440
Speaker 3: help have a giving heart but also make a real

463
00:23:36,480 --> 00:23:38,760
Speaker 3: impact in people's lives. I like you, all right.

464
00:23:38,800 --> 00:23:40,520
Speaker 1: I feel like we have set the table well on

465
00:23:40,560 --> 00:23:43,160
Speaker 1: this one and we got to get into some practicalities.

466
00:23:43,240 --> 00:23:46,560
Speaker 1: So Derek will dive into more questions with you about

467
00:23:46,640 --> 00:23:48,159
Speaker 1: being generous right after this.

468
00:23:55,880 --> 00:23:57,679
Speaker 2: All right, we are back from the break talking with

469
00:23:57,760 --> 00:24:02,439
Speaker 2: Derek Kinney about being generous, and Derek, I feel like

470
00:24:02,480 --> 00:24:04,119
Speaker 2: it can be hard to feel like that you have

471
00:24:04,200 --> 00:24:07,720
Speaker 2: the ability to be generous, like I mean, especially like

472
00:24:07,800 --> 00:24:10,000
Speaker 2: these days. If you're if you're like the Samish generation,

473
00:24:10,080 --> 00:24:12,120
Speaker 2: you're trying to you know, you're thinking about your kids,

474
00:24:12,160 --> 00:24:14,600
Speaker 2: You're also thinking about your folks. You're trying to be generous,

475
00:24:14,600 --> 00:24:17,720
Speaker 2: but you're also trying to hit your own personal saving skulls, Like,

476
00:24:17,800 --> 00:24:20,040
Speaker 2: what do you think of someone out there who's trying

477
00:24:20,080 --> 00:24:23,760
Speaker 2: to find some balance between saving and investing effectively while

478
00:24:24,040 --> 00:24:27,560
Speaker 2: still being generous. Is it just a matter of almost

479
00:24:27,600 --> 00:24:30,760
Speaker 2: suspend not suspending reality. But just what I heard you

480
00:24:30,800 --> 00:24:34,040
Speaker 2: saying before the break was tying your generous giving, how

481
00:24:34,080 --> 00:24:36,399
Speaker 2: you handle your money in regards to others, to a

482
00:24:36,400 --> 00:24:40,760
Speaker 2: greater purpose, to something larger than yourself. Can you unpack that.

483
00:24:40,800 --> 00:24:42,879
Speaker 3: Some for us? Yeah? Well, what I have found, and

484
00:24:42,920 --> 00:24:46,400
Speaker 3: again this may not be a popular opinion because most

485
00:24:46,440 --> 00:24:49,320
Speaker 3: people are living paycheck to paycheck, or the real living

486
00:24:49,359 --> 00:24:51,359
Speaker 3: below that, and wonder I don't even have a dollar

487
00:24:51,400 --> 00:24:54,399
Speaker 3: extra to give. What I find, though, is when you

488
00:24:54,520 --> 00:24:59,159
Speaker 3: decide what's important to you, and everything changes. And what

489
00:24:59,160 --> 00:25:01,520
Speaker 3: I would say to that would be if there is

490
00:25:01,560 --> 00:25:03,760
Speaker 3: a cause that you want to start giving to. Now,

491
00:25:04,440 --> 00:25:06,880
Speaker 3: I'm a believer, so I grew up, you know, tithing

492
00:25:07,000 --> 00:25:09,280
Speaker 3: ten percent of my church, et cetera, et cetera. So

493
00:25:09,640 --> 00:25:12,360
Speaker 3: ten percent is always coming off the top. And how

494
00:25:12,400 --> 00:25:15,000
Speaker 3: I do that is the first of the month is

495
00:25:15,040 --> 00:25:17,160
Speaker 3: when that ten percent comes off the top. So I'm

496
00:25:17,160 --> 00:25:19,719
Speaker 3: not in a situation where there's more month left than

497
00:25:19,760 --> 00:25:22,040
Speaker 3: there is money and then waiting at the end of

498
00:25:22,080 --> 00:25:25,280
Speaker 3: the month to say, whatever's left over is what I'll give,

499
00:25:25,359 --> 00:25:27,600
Speaker 3: and I'll save or I'll invest. It's like I treat

500
00:25:27,640 --> 00:25:30,639
Speaker 3: it like a bill, not how I feel about it,

501
00:25:30,640 --> 00:25:33,240
Speaker 3: but how I treat it so that psychologically I know

502
00:25:33,320 --> 00:25:36,199
Speaker 3: I've taken care of my most important things first. But

503
00:25:36,240 --> 00:25:37,800
Speaker 3: one of the things that we have found, and I

504
00:25:37,840 --> 00:25:39,639
Speaker 3: don't talk about this a ton in the book, but

505
00:25:39,920 --> 00:25:42,960
Speaker 3: this is just is I talk to other successful people

506
00:25:43,880 --> 00:25:46,359
Speaker 3: who have gone from middle class to millionaire. Which is

507
00:25:46,359 --> 00:25:49,400
Speaker 3: really my matra now is helping people escape the middle

508
00:25:49,400 --> 00:25:53,600
Speaker 3: class and become millionaires. Is they had a generous mentality

509
00:25:54,080 --> 00:25:59,119
Speaker 3: before they had the ability financially to be generous. And

510
00:25:59,200 --> 00:26:01,879
Speaker 3: what that means is that they weren't thinking about huge

511
00:26:01,960 --> 00:26:05,000
Speaker 3: dollar amounts. They were just thinking about In most cases,

512
00:26:05,000 --> 00:26:07,800
Speaker 3: even though you may feel like you're dirt poor, you

513
00:26:07,880 --> 00:26:09,840
Speaker 3: have more money than a lot of the other world

514
00:26:10,080 --> 00:26:13,280
Speaker 3: has in terms of a percentage, and so giving a

515
00:26:13,359 --> 00:26:16,800
Speaker 3: small amount of that right off the top, it just

516
00:26:16,920 --> 00:26:19,560
Speaker 3: makes you feel better and it kind of takes you

517
00:26:19,600 --> 00:26:22,600
Speaker 3: outside of your own problems. Because we can get so

518
00:26:22,880 --> 00:26:25,960
Speaker 3: self centered and so focused on just what's our life

519
00:26:26,119 --> 00:26:28,880
Speaker 3: and what's happening in our little bubble here. But when

520
00:26:28,880 --> 00:26:33,800
Speaker 3: you give, you're leaving your bubble temporarily and you're helping

521
00:26:33,840 --> 00:26:35,960
Speaker 3: someone else in their bubble make it a better bubble.

522
00:26:36,520 --> 00:26:38,200
Speaker 3: And to me, that's a great way to live.

523
00:26:38,520 --> 00:26:39,000
Speaker 1: I love that.

524
00:26:39,359 --> 00:26:41,440
Speaker 2: We say that sometimes too when it comes to investing,

525
00:26:41,560 --> 00:26:43,320
Speaker 2: Like sometimes folks they don't have a ton of money

526
00:26:43,359 --> 00:26:45,320
Speaker 2: to invest, but it's like, you know what, even just

527
00:26:45,359 --> 00:26:47,960
Speaker 2: investing a little bit, it makes you an investor. It's

528
00:26:48,000 --> 00:26:51,080
Speaker 2: a skill, it's a practice that you develop, and.

529
00:26:51,000 --> 00:26:53,480
Speaker 1: It changes your psychology to a certain degree in a

530
00:26:53,480 --> 00:26:55,760
Speaker 1: helpful way. And I think the same is true of giving,

531
00:26:55,800 --> 00:26:58,600
Speaker 1: even if it's a small amount. It's like, now you're

532
00:26:58,640 --> 00:27:01,320
Speaker 1: like on the path towards a generous person. And identity

533
00:27:01,320 --> 00:27:02,879
Speaker 1: has changed a little bit too. You're like, now I

534
00:27:02,880 --> 00:27:06,520
Speaker 1: am a giver. Yeah, there's something really healthy about that. Derek.

535
00:27:06,520 --> 00:27:08,720
Speaker 1: We've talked a lot about giving. But it's interesting a

536
00:27:08,720 --> 00:27:10,200
Speaker 1: lot of what you talk about in the book too,

537
00:27:10,480 --> 00:27:13,359
Speaker 1: is increasing your earnings, and the goal of that, in

538
00:27:13,400 --> 00:27:15,720
Speaker 1: many ways is so that you can be a more

539
00:27:15,760 --> 00:27:19,120
Speaker 1: generous giver. But yeah, what practical tips do you have

540
00:27:19,280 --> 00:27:23,399
Speaker 1: for people who might say, man, Derek, earning more. It

541
00:27:23,400 --> 00:27:26,480
Speaker 1: feels like a tall task. I'm over here making eighteen

542
00:27:26,520 --> 00:27:28,879
Speaker 1: dollars an hour or something, and it doesn't feel like

543
00:27:29,320 --> 00:27:34,160
Speaker 1: there are promotion prospects in the near term horizon. How

544
00:27:34,200 --> 00:27:35,399
Speaker 1: do I go about making more money?

545
00:27:35,960 --> 00:27:39,359
Speaker 3: Well, this is something I'm very passionate about because my

546
00:27:39,440 --> 00:27:41,760
Speaker 3: first job out of college, I was passed over for

547
00:27:41,800 --> 00:27:44,359
Speaker 3: a big bonus and it really made me upset because

548
00:27:44,359 --> 00:27:46,960
Speaker 3: I worked as hard as everybody else, but it came

549
00:27:47,040 --> 00:27:50,399
Speaker 3: down this selective decision the boss made of well, the

550
00:27:50,440 --> 00:27:53,199
Speaker 3: engineers are more important than the marketing person, therefore no

551
00:27:53,280 --> 00:27:55,720
Speaker 3: bonus for you. And it just taught me that when

552
00:27:55,720 --> 00:27:58,399
Speaker 3: you put yourself in a position of letting someone else

553
00:27:58,560 --> 00:28:03,159
Speaker 3: dictate your value, than you are devaluing yourself. Okay, I

554
00:28:03,200 --> 00:28:05,520
Speaker 3: mean this may sound very, very harsh, but all of

555
00:28:05,600 --> 00:28:08,440
Speaker 3: us have a dollar amount on our heads as we're

556
00:28:08,440 --> 00:28:11,720
Speaker 3: walking around, and what that means is that we're letting

557
00:28:11,920 --> 00:28:16,320
Speaker 3: whatever we're getting paid right now dictate. Well, our value is.

558
00:28:16,400 --> 00:28:18,800
Speaker 3: You know, when you cash your check every friday, every

559
00:28:19,480 --> 00:28:23,560
Speaker 3: other friday, you're agreeing with the company that you're with

560
00:28:23,800 --> 00:28:26,879
Speaker 3: that that's your value because you keep cashing that check.

561
00:28:26,920 --> 00:28:29,280
Speaker 3: And there's only one way to change that and add

562
00:28:29,320 --> 00:28:33,040
Speaker 3: is to ask yourself, in my current job, can I

563
00:28:33,080 --> 00:28:36,119
Speaker 3: get a raise? But more importantly, the bigger question is

564
00:28:36,760 --> 00:28:38,960
Speaker 3: not just can I get a raised, but in twenty

565
00:28:39,080 --> 00:28:43,440
Speaker 3: twenty five, what is the income goal that I have.

566
00:28:44,200 --> 00:28:46,920
Speaker 3: So when you ask that question and you pull back

567
00:28:46,960 --> 00:28:49,640
Speaker 3: from your current job situation and the limitations you're in

568
00:28:49,680 --> 00:28:51,600
Speaker 3: and whether it's true or not, or you're able to

569
00:28:51,600 --> 00:28:54,280
Speaker 3: get a raise or not. Let's say that you're making

570
00:28:54,360 --> 00:28:56,440
Speaker 3: right now seventy five thousand dollars a year, and your

571
00:28:56,440 --> 00:28:58,920
Speaker 3: goal is I want to make one hundred thousand dollars.

572
00:28:58,920 --> 00:29:01,320
Speaker 3: Well in your current job, that may sound like a

573
00:29:01,320 --> 00:29:03,960
Speaker 3: far fetched deal, and it may be. Let's say you're

574
00:29:03,960 --> 00:29:07,480
Speaker 3: a teacher, Well, you are not going to get a

575
00:29:07,600 --> 00:29:10,960
Speaker 3: raise unless every other teacher in your district gets a raise.

576
00:29:11,080 --> 00:29:13,360
Speaker 3: That's just the reality. Or if you're a nurse or

577
00:29:13,400 --> 00:29:16,000
Speaker 3: a pilot, or you know, you work on the shop floor,

578
00:29:16,040 --> 00:29:18,760
Speaker 3: whatever that is. And so you got to ask yourself, okay,

579
00:29:18,840 --> 00:29:23,200
Speaker 3: a can I even get a raise in my job?

580
00:29:23,480 --> 00:29:25,280
Speaker 3: And it's a valid question to ask that way, you're

581
00:29:25,280 --> 00:29:29,240
Speaker 3: defining reality. So if the question is no, I cannot

582
00:29:29,240 --> 00:29:31,000
Speaker 3: get a raise in my current job, then you have

583
00:29:31,040 --> 00:29:33,440
Speaker 3: to ask yourself, is this a job I want to

584
00:29:33,480 --> 00:29:36,600
Speaker 3: stay in because I'm passionate about it. I just enjoy it.

585
00:29:37,040 --> 00:29:41,160
Speaker 3: And then therefore we go then into this side hustle conversation. Okay,

586
00:29:41,320 --> 00:29:43,719
Speaker 3: or you may say, you know what, after looking at

587
00:29:43,760 --> 00:29:46,680
Speaker 3: this exercise that Derek talked about, I want to look

588
00:29:46,680 --> 00:29:49,200
Speaker 3: at getting a different job where I have the opportunity

589
00:29:49,240 --> 00:29:51,560
Speaker 3: to make more money. Well, now you're changing a job,

590
00:29:51,920 --> 00:29:54,080
Speaker 3: but I would submit to you also then looking at

591
00:29:54,080 --> 00:29:56,920
Speaker 3: the side hustle would be very beneficial because what we

592
00:29:57,000 --> 00:30:01,040
Speaker 3: learned in COVID was a lot of highly skilled, very

593
00:30:01,240 --> 00:30:05,560
Speaker 3: very educated, hard working, well meaning people have their entire

594
00:30:05,760 --> 00:30:09,360
Speaker 3: job category wiped out of no fault of their own.

595
00:30:09,480 --> 00:30:11,960
Speaker 3: And so I'm a huge proponent of you need to

596
00:30:12,200 --> 00:30:16,240
Speaker 3: own a portion of your income so that only you

597
00:30:16,640 --> 00:30:19,640
Speaker 3: can fire yourself. Only you can say to yourself, you're

598
00:30:19,640 --> 00:30:21,320
Speaker 3: not going to get paid more, but at least you're

599
00:30:21,360 --> 00:30:24,000
Speaker 3: the one making the decision. So now let's go to

600
00:30:24,040 --> 00:30:26,560
Speaker 3: the part about if I want to launch a side hustle.

601
00:30:26,640 --> 00:30:29,320
Speaker 3: So many people make the fatal mistake of well, i've

602
00:30:29,320 --> 00:30:31,400
Speaker 3: got to go back to college. I've got to get

603
00:30:31,400 --> 00:30:34,840
Speaker 3: this advanced degree, I've got to get the certification, and

604
00:30:34,920 --> 00:30:38,520
Speaker 3: then they keep delayed, delayed, delay, and opportunity does not

605
00:30:38,640 --> 00:30:41,080
Speaker 3: come their way. Instead, you want to ask yourself a

606
00:30:41,120 --> 00:30:45,360
Speaker 3: couple simple questions. What do your friends and your coworkers

607
00:30:45,920 --> 00:30:50,200
Speaker 3: normally ask for your help with. Are you the paper proofreader?

608
00:30:50,520 --> 00:30:53,480
Speaker 3: Are you the website developers? Are you the closet organizer?

609
00:30:53,520 --> 00:30:56,840
Speaker 3: Are you the trip planner? Or you the organization queen.

610
00:30:56,920 --> 00:30:59,120
Speaker 3: Are you the person that is able to take young

611
00:30:59,200 --> 00:31:01,640
Speaker 3: kids and teach them soccer so they can score a goal.

612
00:31:02,000 --> 00:31:05,280
Speaker 3: Whatever that skill set is that comes to you naturally

613
00:31:05,360 --> 00:31:08,560
Speaker 3: and normally that people just ask you for, that is

614
00:31:08,600 --> 00:31:12,760
Speaker 3: your focus group. I call it your financial freedom focus group,

615
00:31:12,840 --> 00:31:16,160
Speaker 3: telling you here's what you're good at, and therefore, because

616
00:31:16,160 --> 00:31:18,040
Speaker 3: you're good at it, and we think you're good at it,

617
00:31:18,080 --> 00:31:20,120
Speaker 3: and we keep asking you. Because you're good at it,

618
00:31:20,400 --> 00:31:23,120
Speaker 3: you can charge for it. So that's the easy way

619
00:31:23,160 --> 00:31:26,720
Speaker 3: to parlay your skill set into that side hustle. But

620
00:31:26,760 --> 00:31:29,800
Speaker 3: it all starts with what is my income goal for

621
00:31:29,840 --> 00:31:32,360
Speaker 3: this year? Once you have that, it becomes simply a

622
00:31:32,400 --> 00:31:34,959
Speaker 3: math problem of how you solve And I don't want

623
00:31:34,960 --> 00:31:37,480
Speaker 3: to oversimplify it, but if you're going to make more

624
00:31:37,520 --> 00:31:41,320
Speaker 3: money this year than last, year, you have to think differently,

625
00:31:41,560 --> 00:31:42,880
Speaker 3: and that's what I'm offering you today.

626
00:31:43,400 --> 00:31:45,840
Speaker 2: I like how you call those friends your financial freedom

627
00:31:45,880 --> 00:31:49,120
Speaker 2: focus group. It's actually a free financial freedom focus group,

628
00:31:49,880 --> 00:31:51,960
Speaker 2: if you come to think of it. It reminds me

629
00:31:52,280 --> 00:31:55,200
Speaker 2: one of the lessons that you share that like that

630
00:31:55,240 --> 00:31:57,160
Speaker 2: we are in charge of teaching our kids is to

631
00:31:57,160 --> 00:31:59,840
Speaker 2: be the creator of money, not the receiver of it.

632
00:32:00,240 --> 00:32:03,080
Speaker 2: Which way that's specifically out there for kids. But I

633
00:32:03,120 --> 00:32:07,040
Speaker 2: mean you would encourage all folks to consider starting their business.

634
00:32:07,960 --> 00:32:10,600
Speaker 2: I mean there's a difference, I know, between like a

635
00:32:10,640 --> 00:32:12,960
Speaker 2: side hustle and starting your own business, But like, where

636
00:32:12,960 --> 00:32:14,560
Speaker 2: do you draw the line as far as folks who

637
00:32:14,600 --> 00:32:16,440
Speaker 2: might be cut out for owning their own business as

638
00:32:16,480 --> 00:32:19,120
Speaker 2: opposed to just kind of dabbling with the side hustle

639
00:32:19,400 --> 00:32:20,160
Speaker 2: in their free time.

640
00:32:20,600 --> 00:32:22,760
Speaker 3: Well, first of all, the reason I made that common

641
00:32:22,760 --> 00:32:27,600
Speaker 3: in the book was it's important for parents not to

642
00:32:27,640 --> 00:32:32,040
Speaker 3: teach their kids based on only what they know. So

643
00:32:32,240 --> 00:32:37,560
Speaker 3: many parents, unwillingly and actually unknowingly I should say, give

644
00:32:37,600 --> 00:32:41,000
Speaker 3: their kids a lid above their heads only because the

645
00:32:41,160 --> 00:32:44,960
Speaker 3: parent themselves has a lid above their heads. And typically

646
00:32:45,000 --> 00:32:47,520
Speaker 3: that verbally sounds like you know, I don't want you

647
00:32:47,520 --> 00:32:50,240
Speaker 3: to do that because you might lose money, or I

648
00:32:50,240 --> 00:32:52,440
Speaker 3: don't want you to do that because you might get hurt,

649
00:32:52,760 --> 00:32:55,360
Speaker 3: or it might cost you the job. It's better to

650
00:32:55,440 --> 00:32:58,120
Speaker 3: play it safe. Only because their parents told them the

651
00:32:58,160 --> 00:33:01,080
Speaker 3: exact same thing. So I think right now the wise

652
00:33:01,240 --> 00:33:04,240
Speaker 3: parents says, Look, I may not know how to do this,

653
00:33:04,760 --> 00:33:08,560
Speaker 3: but let's learn together. Let's go on YouTube, let's buy

654
00:33:08,560 --> 00:33:10,680
Speaker 3: a course. Let's figure out how while you're in high

655
00:33:10,680 --> 00:33:13,840
Speaker 3: school or even in college, that you can launch something

656
00:33:13,880 --> 00:33:17,360
Speaker 3: that becomes your own that could parlay itself into something

657
00:33:17,440 --> 00:33:19,600
Speaker 3: full time. Now, what I would say to people listening

658
00:33:19,720 --> 00:33:22,120
Speaker 3: right now that are employees, and this I think is

659
00:33:22,160 --> 00:33:25,720
Speaker 3: one of the best hacks that you have. Most people

660
00:33:25,760 --> 00:33:30,920
Speaker 3: who are caching that paycheck have a paycheck mentality, and

661
00:33:31,000 --> 00:33:33,840
Speaker 3: that is they think like an employee. Whatever the title

662
00:33:33,920 --> 00:33:35,920
Speaker 3: is on their business card, that's what they do. If

663
00:33:35,960 --> 00:33:39,840
Speaker 3: I'm the marketing vice president, if I'm the general manager,

664
00:33:39,920 --> 00:33:43,600
Speaker 3: the middle level manager, the executive assistant, that's what I do.

665
00:33:44,200 --> 00:33:46,680
Speaker 3: And instead, we want to twist that just a bit

666
00:33:46,960 --> 00:33:51,320
Speaker 3: and really ask yourself the question, what is the problem

667
00:33:51,480 --> 00:33:55,120
Speaker 3: that you are helping the company solve? What is the

668
00:33:55,280 --> 00:33:57,840
Speaker 3: problem that you're helping them solve so they can make

669
00:33:57,880 --> 00:34:02,120
Speaker 3: more money, save more money, and be more productive. You see,

670
00:34:02,120 --> 00:34:05,040
Speaker 3: you're no longer the title on your business card. You

671
00:34:05,200 --> 00:34:09,640
Speaker 3: specialize in solving a unique problem. And when you see

672
00:34:09,680 --> 00:34:14,400
Speaker 3: yourself from that angle, your value goes up. And that

673
00:34:14,520 --> 00:34:16,960
Speaker 3: gives you the ability, then in your current job, to

674
00:34:17,040 --> 00:34:19,600
Speaker 3: say now that I'm a problem solver and I have

675
00:34:19,719 --> 00:34:22,239
Speaker 3: this unique ability and my skill set to solve this

676
00:34:22,360 --> 00:34:25,400
Speaker 3: problem and it's actually helping the company make, save and

677
00:34:25,440 --> 00:34:27,680
Speaker 3: be more productive. Now I can go to my boss

678
00:34:27,719 --> 00:34:30,040
Speaker 3: and say, hey, you know, I'm a problem solver in

679
00:34:30,080 --> 00:34:33,600
Speaker 3: this space, and here's what it's been doing for the company.

680
00:34:33,840 --> 00:34:35,759
Speaker 3: I've got a couple ideas I want to talk about

681
00:34:35,800 --> 00:34:38,120
Speaker 3: with you, and I like to get a bigger raise,

682
00:34:38,400 --> 00:34:42,480
Speaker 3: And based on if these things happen, let's pre negotiate

683
00:34:42,880 --> 00:34:45,160
Speaker 3: a what a salary increase could look like based on

684
00:34:45,200 --> 00:34:48,200
Speaker 3: the value that I'm providing. Now, what I didn't say,

685
00:34:48,320 --> 00:34:49,920
Speaker 3: and I want to be very careful to say this

686
00:34:50,000 --> 00:34:52,479
Speaker 3: is I didn't say, go knock on the boss's door

687
00:34:52,880 --> 00:34:55,560
Speaker 3: and demand a four percent raise or demand a ten

688
00:34:55,600 --> 00:35:00,840
Speaker 3: percent raise. That gets you nowhere. Okay, Ultimately, every boss

689
00:35:01,040 --> 00:35:05,920
Speaker 3: their favorite radio station is WIIFM what's in it for me?

690
00:35:07,000 --> 00:35:09,440
Speaker 3: And they listen to it twenty four to seven. And

691
00:35:09,520 --> 00:35:12,560
Speaker 3: so when you play to that and you let them know, look,

692
00:35:12,640 --> 00:35:15,480
Speaker 3: I'm a specialist. I love working here, but I want

693
00:35:15,480 --> 00:35:17,759
Speaker 3: to help the company make save and be more productive.

694
00:35:18,080 --> 00:35:20,759
Speaker 3: That opens the door for you to be viewed as

695
00:35:20,800 --> 00:35:25,239
Speaker 3: an entrepreneur inside of a corporate setting, which puts you

696
00:35:25,280 --> 00:35:26,839
Speaker 3: in very rare air.

697
00:35:27,480 --> 00:35:29,200
Speaker 1: I like that because not everyone's cut out to be

698
00:35:29,239 --> 00:35:31,680
Speaker 1: an entrepreneur. Not everybody wants to go start their own business.

699
00:35:31,760 --> 00:35:35,600
Speaker 1: Some people like the security of a ninety five, or

700
00:35:35,600 --> 00:35:37,520
Speaker 1: they really like the job that they've been in for

701
00:35:37,600 --> 00:35:40,120
Speaker 1: fifteen years, and they're like not looking to torch it

702
00:35:40,160 --> 00:35:42,480
Speaker 1: in order to go start their own thing. So thinking

703
00:35:42,560 --> 00:35:46,400
Speaker 1: of yourself as an entrepreneur inside of a traditional business,

704
00:35:46,480 --> 00:35:48,640
Speaker 1: I think is a way that it makes sense for

705
00:35:48,680 --> 00:35:51,680
Speaker 1: a whole lot of people. So let's talk to the

706
00:35:51,719 --> 00:35:54,200
Speaker 1: people all right who say, all right, I've come up

707
00:35:54,239 --> 00:35:56,279
Speaker 1: with this idea, how much more money I want to

708
00:35:56,320 --> 00:35:59,640
Speaker 1: make in twenty twenty five, And let's say at the

709
00:35:59,719 --> 00:36:01,920
Speaker 1: end of the year they hit that number using some

710
00:36:02,000 --> 00:36:03,640
Speaker 1: of the stuff we just talked about, some of the

711
00:36:04,640 --> 00:36:07,640
Speaker 1: tactics we just discussed, how do you suggest people go

712
00:36:07,719 --> 00:36:10,560
Speaker 1: about increasing their giving as their income growth. Are you

713
00:36:10,640 --> 00:36:14,320
Speaker 1: focused on increasing the total dollar amount? Are you focused

714
00:36:14,320 --> 00:36:17,080
Speaker 1: on increasing the percentage? I know some people might say,

715
00:36:17,360 --> 00:36:19,320
Speaker 1: especially you know you mentioned growing up in church and

716
00:36:19,360 --> 00:36:22,239
Speaker 1: the tide than ten percent cool? Well, ten percent of

717
00:36:23,120 --> 00:36:25,520
Speaker 1: one hundred thousand is way more than ten percent of

718
00:36:25,600 --> 00:36:27,959
Speaker 1: fifty five thousand, which while I was making last year.

719
00:36:28,160 --> 00:36:31,000
Speaker 1: So I'm being more generous by default? Or are you

720
00:36:31,280 --> 00:36:33,200
Speaker 1: more intentional than even just that?

721
00:36:33,840 --> 00:36:36,080
Speaker 3: Well, I like to keep it simple and so I

722
00:36:36,160 --> 00:36:38,360
Speaker 3: like to keep it as a percentage. And what I

723
00:36:38,440 --> 00:36:41,839
Speaker 3: find is because I like to give more, I mean,

724
00:36:42,000 --> 00:36:44,240
Speaker 3: if that's in your heart to say, look, I really

725
00:36:44,440 --> 00:36:47,200
Speaker 3: see this pain point other people are in. I want

726
00:36:47,239 --> 00:36:50,200
Speaker 3: to help solve that. And part of my rationallyst to

727
00:36:50,239 --> 00:36:52,439
Speaker 3: go make more money to do more good with it.

728
00:36:52,920 --> 00:36:55,359
Speaker 3: Then I'm just simply giving more as I'm making more.

729
00:36:55,719 --> 00:36:59,200
Speaker 3: And what I find is, now, again it's hard to

730
00:36:59,280 --> 00:37:02,279
Speaker 3: slice this hair in half if you will. I just

731
00:37:02,400 --> 00:37:05,600
Speaker 3: find personally and other people I've coached with this and

732
00:37:05,640 --> 00:37:09,920
Speaker 3: have put this into practice, is they are happier the

733
00:37:09,960 --> 00:37:12,600
Speaker 3: more generous they are, and they want to then make

734
00:37:12,640 --> 00:37:15,319
Speaker 3: more money to be more generous. Now it doesn't mean

735
00:37:15,360 --> 00:37:19,040
Speaker 3: that you have to that making money is the precursor

736
00:37:19,480 --> 00:37:22,880
Speaker 3: to being generous or being happy. But for motivated people

737
00:37:22,920 --> 00:37:26,319
Speaker 3: that I'm typically around, whether they be other financial advisors

738
00:37:26,400 --> 00:37:28,680
Speaker 3: or other entrepreneurs that I coach now to help them

739
00:37:28,719 --> 00:37:32,359
Speaker 3: grow their businesses, I call this your generosity purpose. It's

740
00:37:32,400 --> 00:37:34,879
Speaker 3: one of the five key steps that we weave into

741
00:37:34,920 --> 00:37:38,680
Speaker 3: their business because it's the antidote to burnout. You know,

742
00:37:38,680 --> 00:37:40,360
Speaker 3: if you're focused on I just got to hit this

743
00:37:40,480 --> 00:37:43,240
Speaker 3: sales goal and hit my revenue goal, and the goal

744
00:37:43,400 --> 00:37:46,520
Speaker 3: is just the goal, then there's no meaning or purpose

745
00:37:46,560 --> 00:37:48,880
Speaker 3: to that. But when you can think about even putting

746
00:37:48,960 --> 00:37:51,600
Speaker 3: a little page on your website or picturing your office

747
00:37:52,200 --> 00:37:54,920
Speaker 3: of the school building that if I can help you know,

748
00:37:55,320 --> 00:37:58,200
Speaker 3: grow this business, I can help make that happen, or

749
00:37:58,239 --> 00:38:00,480
Speaker 3: I can help these children be able to go to school.

750
00:38:00,719 --> 00:38:02,960
Speaker 3: It reminds you and your clients as they come in

751
00:38:03,000 --> 00:38:06,040
Speaker 3: your office, Hey, this is a bigger cause. And so

752
00:38:06,440 --> 00:38:09,520
Speaker 3: I just find the more you're making, the more motivate

753
00:38:09,560 --> 00:38:10,720
Speaker 3: you to be part of something big.

754
00:38:11,120 --> 00:38:12,920
Speaker 2: I love it. Derek, We've got more to get to.

755
00:38:13,160 --> 00:38:15,759
Speaker 2: We're gonna talk about focusing on mindset, I guess, and

756
00:38:15,800 --> 00:38:17,239
Speaker 2: just how he can kind of break down some of

757
00:38:17,239 --> 00:38:20,959
Speaker 2: the barriers and the scripts that we've constructed over time.

758
00:38:21,080 --> 00:38:22,719
Speaker 2: We'll get to that more. Right after this.

759
00:38:30,320 --> 00:38:32,239
Speaker 1: Our we're back Tore still talking with Derek Kenny talking

760
00:38:32,280 --> 00:38:34,600
Speaker 1: about making more money, which is awesome, and doing more

761
00:38:34,640 --> 00:38:37,040
Speaker 1: good with that money, being generous, which is also awesome,

762
00:38:37,280 --> 00:38:40,560
Speaker 1: two things I like, Matt and in his book, Derek,

763
00:38:40,960 --> 00:38:44,200
Speaker 1: you focus a good bit on mindset, especially towards the end.

764
00:38:45,200 --> 00:38:48,319
Speaker 1: I'm curious what are the typical maybe knee jerk, no,

765
00:38:48,400 --> 00:38:50,840
Speaker 1: thank you. This doesn't make sense to me responses you

766
00:38:50,880 --> 00:38:54,400
Speaker 1: get from people when you're kind of talking through this framework,

767
00:38:54,480 --> 00:38:57,480
Speaker 1: because I think, is it just limiting beliefs of how

768
00:38:57,520 --> 00:39:00,560
Speaker 1: much money people can make? Is it this un willingness

769
00:39:00,560 --> 00:39:02,400
Speaker 1: to think they can be as generous as they as

770
00:39:02,440 --> 00:39:05,479
Speaker 1: they would hope? Like, what sort of pushback do you get?

771
00:39:05,760 --> 00:39:07,360
Speaker 3: Well, let me tell you a quick story. So I

772
00:39:07,440 --> 00:39:10,000
Speaker 3: was in the office on a Saturday morning catching up

773
00:39:10,040 --> 00:39:12,240
Speaker 3: on some things, and I saw my voicemail like blinking,

774
00:39:12,280 --> 00:39:13,840
Speaker 3: and I had this decision to make do I do

775
00:39:13,880 --> 00:39:15,480
Speaker 3: I press it and listen to it and maybe get

776
00:39:15,480 --> 00:39:18,840
Speaker 3: off track or just keep working. And I just felt

777
00:39:18,840 --> 00:39:21,240
Speaker 3: this voice inside say you need to listen to that message.

778
00:39:21,600 --> 00:39:25,040
Speaker 3: When I pressed it, I did not expect to hear

779
00:39:25,080 --> 00:39:28,759
Speaker 3: what I heard. It was a woman's frantic voice. It said, Derek, Derek,

780
00:39:28,800 --> 00:39:31,279
Speaker 3: I know it's Saturday. I hope you get this. They're

781
00:39:31,320 --> 00:39:33,800
Speaker 3: about to send me to jail. I need your help

782
00:39:33,920 --> 00:39:37,280
Speaker 3: right now. Let me ask you guys this, Has anybody

783
00:39:37,320 --> 00:39:39,200
Speaker 3: ever said that to you that if you don't help them,

784
00:39:39,200 --> 00:39:40,520
Speaker 3: they're going to send you to jail.

785
00:39:41,280 --> 00:39:43,359
Speaker 2: No, I'll just ask for time to get a friend's

786
00:39:43,400 --> 00:39:44,840
Speaker 2: motorcycle because he was in jail.

787
00:39:45,880 --> 00:39:46,279
Speaker 3: There you go.

788
00:39:46,520 --> 00:39:48,759
Speaker 1: Matn has a lot of friends that have been to jail, Derek,

789
00:39:48,800 --> 00:39:50,440
Speaker 1: if you hang around them long enough, you'll find that out.

790
00:39:50,480 --> 00:39:51,680
Speaker 3: That'll be a different episode.

791
00:39:51,880 --> 00:39:52,080
Speaker 2: Yeah.

792
00:39:52,160 --> 00:39:55,000
Speaker 3: Yeah, So I've never had anybody say this to me before.

793
00:39:55,040 --> 00:39:57,000
Speaker 3: So I quickly called her back. I knew that bad

794
00:39:57,080 --> 00:40:00,600
Speaker 3: news would not age well until Monday, and I said,

795
00:40:01,120 --> 00:40:02,879
Speaker 3: I just got your message. What happened? She said, Derek,

796
00:40:02,920 --> 00:40:04,520
Speaker 3: I got this letter in the mail and it says

797
00:40:04,560 --> 00:40:06,279
Speaker 3: they're going to send me to jail. And I said,

798
00:40:06,280 --> 00:40:08,640
Speaker 3: first of all, what does the letter say? Well, she

799
00:40:08,719 --> 00:40:11,960
Speaker 3: described it, and she said, basically, it says you wrote

800
00:40:11,960 --> 00:40:15,640
Speaker 3: a check and there was not sufficient funds to cover

801
00:40:15,719 --> 00:40:18,200
Speaker 3: the check, and I said, wait a minute, why do

802
00:40:18,280 --> 00:40:20,360
Speaker 3: you think that means they're going to send you to jail.

803
00:40:20,960 --> 00:40:23,600
Speaker 3: So she begins to tell me a story. She says, Derek,

804
00:40:24,160 --> 00:40:26,799
Speaker 3: when I was seven years old, I overheard a conversation

805
00:40:27,080 --> 00:40:30,520
Speaker 3: that my dad had with a local store owner, and

806
00:40:30,600 --> 00:40:34,160
Speaker 3: the girl at the time heard the person tell her dad,

807
00:40:34,680 --> 00:40:36,880
Speaker 3: you bounce this check, and I know you did it

808
00:40:36,920 --> 00:40:38,759
Speaker 3: on purpose. I'm going to send the cops to your

809
00:40:38,760 --> 00:40:41,480
Speaker 3: house and haul you off to jail. So, as a

810
00:40:41,520 --> 00:40:44,920
Speaker 3: seven year old girl, she grew believing that if you

811
00:40:45,160 --> 00:40:49,120
Speaker 3: bounce a check or make any type of substantial financial mistake,

812
00:40:49,520 --> 00:40:52,040
Speaker 3: they're going to haul you off to jail. Now I

813
00:40:52,040 --> 00:40:53,680
Speaker 3: told her on the phone, I said, first of all,

814
00:40:53,760 --> 00:40:55,640
Speaker 3: they're not going to send you to jail. There's no

815
00:40:55,680 --> 00:40:58,000
Speaker 3: need to get fitted for the orange jumpsuit over the weekend.

816
00:40:58,000 --> 00:41:00,480
Speaker 3: You're good. I will call you Monday. I'll help you

817
00:41:00,520 --> 00:41:03,040
Speaker 3: manually move money from savings that checking will cover it.

818
00:41:03,480 --> 00:41:07,280
Speaker 3: But more importantly, come in the office next week. Let's

819
00:41:07,280 --> 00:41:09,680
Speaker 3: talk about this. So she comes in the office, and

820
00:41:09,719 --> 00:41:12,880
Speaker 3: keep in mind, on the outside she looks like the

821
00:41:12,920 --> 00:41:15,200
Speaker 3: most successful woman there is. She's been a client of

822
00:41:15,200 --> 00:41:18,799
Speaker 3: mine for ten years, but she rarely ever took my

823
00:41:18,960 --> 00:41:22,520
Speaker 3: investment advice. She was so risk averse, and she always

824
00:41:22,560 --> 00:41:25,360
Speaker 3: complained about not making what she deserved and getting passed

825
00:41:25,400 --> 00:41:28,759
Speaker 3: over for the promotions. So we dug in that visit

826
00:41:28,800 --> 00:41:31,480
Speaker 3: together in the office, and what we found was that

827
00:41:31,560 --> 00:41:34,279
Speaker 3: these money beliefs that she had held since she was

828
00:41:34,320 --> 00:41:36,840
Speaker 3: seven years old, that if you make a mistake, you

829
00:41:36,880 --> 00:41:39,319
Speaker 3: go to jail, if you make any type of bad

830
00:41:39,360 --> 00:41:42,719
Speaker 3: financial decision, then you don't deserve to have money, that

831
00:41:42,840 --> 00:41:45,520
Speaker 3: you don't deserve to have the finer things in life.

832
00:41:45,840 --> 00:41:48,200
Speaker 3: Once we unpacked all that and she began to realize,

833
00:41:48,239 --> 00:41:50,680
Speaker 3: oh my gosh, I didn't realized that was the case.

834
00:41:51,480 --> 00:41:56,319
Speaker 3: She began a journey that within three months, a shockingly

835
00:41:56,560 --> 00:41:59,520
Speaker 3: short amount of time, she got a twenty five thousand

836
00:41:59,560 --> 00:42:03,719
Speaker 3: dollars years, got the promotion she wanted, and most importantly,

837
00:42:04,000 --> 00:42:08,200
Speaker 3: she finally took my investment advice. But but here was this

838
00:42:08,239 --> 00:42:10,440
Speaker 3: woman who on the outside looked like she had it

839
00:42:10,520 --> 00:42:15,080
Speaker 3: all together, but on the inside she was a wilting flower.

840
00:42:15,800 --> 00:42:19,120
Speaker 3: And I thought to myself, what a great example that

841
00:42:19,200 --> 00:42:21,080
Speaker 3: she's not the only one. And even in my own

842
00:42:21,160 --> 00:42:23,799
Speaker 3: client base, I didn't know it at the time. So

843
00:42:23,840 --> 00:42:27,560
Speaker 3: I began to have more open dialogues about Look. I know,

844
00:42:27,600 --> 00:42:30,080
Speaker 3: people talk about their their their mindset, and it can

845
00:42:30,160 --> 00:42:33,440
Speaker 3: sound kind of woo woo and fortune cookie ish, but ultimately,

846
00:42:33,640 --> 00:42:36,760
Speaker 3: what you believe to be true is typically what comes

847
00:42:36,800 --> 00:42:39,239
Speaker 3: to you, you know, when you when you look at

848
00:42:39,239 --> 00:42:41,239
Speaker 3: these big sporting events and they go in the locker

849
00:42:41,360 --> 00:42:44,120
Speaker 3: room with the camera and typically the athletes, men and women,

850
00:42:44,120 --> 00:42:46,719
Speaker 3: they've got their headphones on, their eyes are closed. Are

851
00:42:46,719 --> 00:42:49,000
Speaker 3: they taking a nap? Are they thinking about how they're

852
00:42:49,000 --> 00:42:53,400
Speaker 3: going to miss the shot? No, They're visualizing what success

853
00:42:53,520 --> 00:42:57,520
Speaker 3: and winning looks like. And so that transformed my thinking

854
00:42:57,560 --> 00:43:00,239
Speaker 3: about with my clients. They weren't just hiring me to

855
00:43:00,280 --> 00:43:04,520
Speaker 3: be their financial advisor, but almost their mental guide in

856
00:43:04,600 --> 00:43:07,359
Speaker 3: terms of, look, we need to be thinking well so

857
00:43:07,400 --> 00:43:09,719
Speaker 3: that we can build well your portfolio.

858
00:43:09,920 --> 00:43:14,200
Speaker 2: I love that. I think actually, Rabbi Daniel Lappin, he

859
00:43:14,320 --> 00:43:16,439
Speaker 2: did a little blurb about the beginning of your book,

860
00:43:16,480 --> 00:43:18,719
Speaker 2: and I think about how so I actually read his

861
00:43:18,760 --> 00:43:22,000
Speaker 2: book like fifteen twenty years ago, and it had a

862
00:43:22,040 --> 00:43:24,799
Speaker 2: pretty massive impact on how I see money right, and

863
00:43:25,080 --> 00:43:28,239
Speaker 2: it literally informed how I viewed earning money and the

864
00:43:28,280 --> 00:43:30,399
Speaker 2: value that we essentially put out into the world, which

865
00:43:30,400 --> 00:43:31,960
Speaker 2: is I mean, it's real, so much to your message.

866
00:43:32,440 --> 00:43:34,520
Speaker 2: What is your best device for folks out there who

867
00:43:34,520 --> 00:43:37,719
Speaker 2: have realized that they have been thinking about money all wrong? Like,

868
00:43:37,719 --> 00:43:39,720
Speaker 2: what is your advice for them to flip the script?

869
00:43:39,719 --> 00:43:42,400
Speaker 2: Because it feels like it takes longer to change your

870
00:43:42,400 --> 00:43:45,239
Speaker 2: mindset than it does to do almost anything else within

871
00:43:45,440 --> 00:43:48,719
Speaker 2: personal finance. How would you recommend for folks to address that?

872
00:43:49,160 --> 00:43:51,239
Speaker 3: Well, two things, And I say this kind of kind

873
00:43:51,239 --> 00:43:55,239
Speaker 3: of cheeky, but don't die before you're dead. Don't have

874
00:43:55,360 --> 00:43:59,279
Speaker 3: this mentality, then well I'm too old. What I've done,

875
00:43:59,320 --> 00:44:01,839
Speaker 3: I'm locked in. That's the life I'm going to have.

876
00:44:02,200 --> 00:44:04,400
Speaker 1: So you say you can teach an old dog new tricks.

877
00:44:04,640 --> 00:44:07,160
Speaker 3: Yes, and you can teach multiple types of dogs and

878
00:44:07,200 --> 00:44:10,640
Speaker 3: even cats new tricks. But we want to take that

879
00:44:10,680 --> 00:44:12,520
Speaker 3: piece of paper, crumble it up, and throw it out

880
00:44:12,560 --> 00:44:15,280
Speaker 3: the window. And what I would tell people is, look,

881
00:44:15,960 --> 00:44:18,640
Speaker 3: we only get one life, and so what you wanted

882
00:44:18,719 --> 00:44:22,120
Speaker 3: to be, it gives it the best chance for it

883
00:44:22,120 --> 00:44:24,160
Speaker 3: to be that way. And one of the exercises I

884
00:44:24,200 --> 00:44:26,000
Speaker 3: give to people, and this is going to sound crazy,

885
00:44:26,000 --> 00:44:28,480
Speaker 3: but it's step one of what I call the Millionaire

886
00:44:28,680 --> 00:44:33,040
Speaker 3: Money Map. And that is set five meaningful goals, and

887
00:44:33,080 --> 00:44:35,239
Speaker 3: one of the exercises of that is after you set

888
00:44:35,280 --> 00:44:39,160
Speaker 3: those goals is to write on a note card your

889
00:44:39,320 --> 00:44:44,480
Speaker 3: ideal year as though it's already happened, and you're writing

890
00:44:44,560 --> 00:44:48,560
Speaker 3: down twenty twenty five was my best year ever financially.

891
00:44:49,040 --> 00:44:53,680
Speaker 3: I paid down this debt, I saved this amount. My

892
00:44:53,800 --> 00:44:56,399
Speaker 3: relationship with my spouse is the best it's ever been.

893
00:44:56,480 --> 00:45:00,680
Speaker 3: My kids and I finally have opened communication. We're going

894
00:45:00,719 --> 00:45:02,920
Speaker 3: out to dinner with friends once a month. This was

895
00:45:03,000 --> 00:45:05,680
Speaker 3: the best year I've ever had. The whole point is

896
00:45:05,680 --> 00:45:08,920
Speaker 3: that you're writing with as much clarity and detail the

897
00:45:08,960 --> 00:45:11,960
Speaker 3: ideal year that you want that you may be thinking,

898
00:45:12,000 --> 00:45:14,920
Speaker 3: how can I possibly get this, but you're writing it

899
00:45:14,960 --> 00:45:18,160
Speaker 3: in a way where your brain and your subconscious mind thinks, well,

900
00:45:18,480 --> 00:45:20,879
Speaker 3: I guess that already happened. We need to go make

901
00:45:20,920 --> 00:45:23,440
Speaker 3: that happen. And so part of that is this jolt

902
00:45:23,480 --> 00:45:25,920
Speaker 3: of reminding yourself and looking at that note card on

903
00:45:25,960 --> 00:45:30,799
Speaker 3: a daily basis, reminding yourself, this is my ideal year.

904
00:45:31,440 --> 00:45:35,120
Speaker 3: Anything less, I'm settling for less. And when you picture that,

905
00:45:35,480 --> 00:45:37,960
Speaker 3: it begins to focus your mind on what's possible, because

906
00:45:38,000 --> 00:45:41,840
Speaker 3: the reality is life will come at you hard. You know,

907
00:45:41,880 --> 00:45:43,400
Speaker 3: I'm a big goal setter, and if I don't look

908
00:45:43,400 --> 00:45:45,920
Speaker 3: at my goals every couple of days, I can forget

909
00:45:45,960 --> 00:45:50,360
Speaker 3: about them. You're easily distracted. There's kids needs, there's you know,

910
00:45:50,440 --> 00:45:53,960
Speaker 3: my aging parents' needs, there's business needs, friends needs, all

911
00:45:53,960 --> 00:45:57,160
Speaker 3: this stuff happening, and without you taking a few minutes

912
00:45:57,200 --> 00:46:00,480
Speaker 3: every day to determine that's where I'm going, and I

913
00:46:00,480 --> 00:46:02,280
Speaker 3: want to make sure them on the path to get there,

914
00:46:02,600 --> 00:46:05,160
Speaker 3: you can easily end up someplace you never intended to be.

915
00:46:05,680 --> 00:46:09,120
Speaker 1: Yeah, it's a great point. It's easy easier to meander

916
00:46:09,480 --> 00:46:12,680
Speaker 1: through life than it is to go in a specific

917
00:46:12,760 --> 00:46:15,960
Speaker 1: direction that you have outlined for yourself. So, Derek, that's

918
00:46:15,960 --> 00:46:17,880
Speaker 1: great advice. Hey, thank you so much for joining us

919
00:46:17,920 --> 00:46:20,480
Speaker 1: today on the podcast. Where can our listeners find out

920
00:46:20,520 --> 00:46:22,000
Speaker 1: more about you and more about your book?

921
00:46:22,280 --> 00:46:25,040
Speaker 3: The best place would be to go to anyone can

922
00:46:25,200 --> 00:46:28,920
Speaker 3: become a millionaire? Dot Com is our website. There's also

923
00:46:28,920 --> 00:46:31,760
Speaker 3: a free downloadable that's been very very helpful for people.

924
00:46:31,800 --> 00:46:34,640
Speaker 3: They tell us that you can go to get the

925
00:46:34,840 --> 00:46:37,879
Speaker 3: rays you Want dot com. Get the Rays you Want

926
00:46:38,000 --> 00:46:40,240
Speaker 3: dot Com. It's a downloadable about how to get paid

927
00:46:40,280 --> 00:46:42,640
Speaker 3: more in your current job, and then Instagram is a

928
00:46:42,640 --> 00:46:45,120
Speaker 3: great way to follow us at Derek T. Kenny.

929
00:46:45,560 --> 00:46:47,839
Speaker 1: Awesome, very cool. Thank you so much for joining us.

930
00:46:47,840 --> 00:46:48,600
Speaker 1: We appreciate it.

931
00:46:48,640 --> 00:46:50,759
Speaker 3: Thank you, Matt, Joel, this was a great conversation. Thanks

932
00:46:50,760 --> 00:46:51,279
Speaker 3: for having me.

933
00:46:51,680 --> 00:46:54,200
Speaker 2: All right, Joe. I feel like this is a hopefully

934
00:46:54,239 --> 00:46:56,560
Speaker 2: a thought provoking episode for a lot of folks out there.

935
00:46:56,840 --> 00:46:58,640
Speaker 2: This is one of the things that you can do

936
00:46:58,680 --> 00:47:00,600
Speaker 2: with your money, one of the ways you can quote

937
00:47:00,640 --> 00:47:03,279
Speaker 2: unquote spend it that we don't often talk about, right, Like,

938
00:47:03,320 --> 00:47:06,239
Speaker 2: you earn it, you can spend it, you can invest it,

939
00:47:06,280 --> 00:47:08,360
Speaker 2: but we don't often talk about giving it away.

940
00:47:08,480 --> 00:47:12,400
Speaker 1: I think too, those two things combined, they often feel

941
00:47:12,400 --> 00:47:15,279
Speaker 1: like polar opposites. Make more money, give more money away.

942
00:47:15,320 --> 00:47:17,520
Speaker 1: It's like, oh, yeah, which direction will I have to choose,

943
00:47:17,560 --> 00:47:19,239
Speaker 1: and Derek saying no, no, no, you could choose both.

944
00:47:19,239 --> 00:47:19,799
Speaker 2: You can do both.

945
00:47:19,840 --> 00:47:21,439
Speaker 1: I think he's I think he's spot on. And maybe

946
00:47:21,440 --> 00:47:24,040
Speaker 1: that's my big takeaway is like those things, those things

947
00:47:24,080 --> 00:47:26,759
Speaker 1: are not in direct opposition to each other. They are

948
00:47:26,760 --> 00:47:29,640
Speaker 1: not polar opposites by any stretch of the imagination. And

949
00:47:29,680 --> 00:47:33,600
Speaker 1: in fact, you can be more generous the more you make,

950
00:47:33,719 --> 00:47:37,800
Speaker 1: and that driving principle of wanting to be more generous

951
00:47:38,440 --> 00:47:40,920
Speaker 1: can actually be the fuel to help you think more

952
00:47:40,960 --> 00:47:45,000
Speaker 1: creatively about making more money. So it's something I hadn't

953
00:47:45,040 --> 00:47:47,839
Speaker 1: really thought of in those terms until I stumbled upon

954
00:47:47,920 --> 00:47:50,600
Speaker 1: Derek's work and dove into his book, and then I

955
00:47:50,640 --> 00:47:52,399
Speaker 1: was like, wait a second, you're right, like those things

956
00:47:52,760 --> 00:47:55,799
Speaker 1: actually are not only not mutually exclusive, I think they

957
00:47:55,800 --> 00:47:59,080
Speaker 1: can intertwine really nicely together and push you in a

958
00:47:59,200 --> 00:47:59,960
Speaker 1: really positive right.

959
00:48:00,239 --> 00:48:02,520
Speaker 2: Totally. Yeah, And on a practical note, one of the

960
00:48:02,520 --> 00:48:05,080
Speaker 2: ways that you can actually like implement a plan to

961
00:48:05,080 --> 00:48:06,960
Speaker 2: give your money away, And this is when he was

962
00:48:07,000 --> 00:48:09,560
Speaker 2: kind of talking about structuring it, like some folks like

963
00:48:09,600 --> 00:48:12,759
Speaker 2: myself needs some organization. And one of the things he said,

964
00:48:12,800 --> 00:48:14,799
Speaker 2: and he's like, this might be a big controversial, but

965
00:48:14,920 --> 00:48:18,160
Speaker 2: to commit to giving that money away even before some

966
00:48:18,239 --> 00:48:20,399
Speaker 2: of that money is necessarily completely in hand, a little

967
00:48:20,400 --> 00:48:23,040
Speaker 2: pre committing. Yeah, well, and like a lot of organizations

968
00:48:23,080 --> 00:48:25,400
Speaker 2: do this, but that's a pledge. It's a giving pledge.

969
00:48:25,400 --> 00:48:27,040
Speaker 2: It's saying, hey, I'm going to commit to giving this

970
00:48:27,080 --> 00:48:30,239
Speaker 2: amount of money, and like you've set sort of the standard.

971
00:48:30,239 --> 00:48:32,040
Speaker 2: It's almost like I was going to jump in and

972
00:48:32,040 --> 00:48:33,799
Speaker 2: interrupt them, but I didn't want to interrupt them, but like,

973
00:48:33,800 --> 00:48:35,840
Speaker 2: it's like signing up for a race, and this is

974
00:48:35,840 --> 00:48:37,440
Speaker 2: something that you've been doing more of lately, Joe. But

975
00:48:37,480 --> 00:48:38,880
Speaker 2: once you've signed up for a race, it's on your

976
00:48:38,920 --> 00:48:41,200
Speaker 2: mind and you're like, all right, well, I know I've

977
00:48:41,239 --> 00:48:44,040
Speaker 2: got to do that. That's a great And so because

978
00:48:44,080 --> 00:48:45,640
Speaker 2: of that, that's going to kind of motivate me to

979
00:48:45,640 --> 00:48:47,960
Speaker 2: get my butt out there. I'm gonna freaking hit the trails.

980
00:48:47,719 --> 00:48:50,440
Speaker 1: If I've got a half marathon on, you know, on

981
00:48:50,480 --> 00:48:51,839
Speaker 1: the calendar three months from now.

982
00:48:51,800 --> 00:48:53,640
Speaker 2: You don't want it to suck the entire time.

983
00:48:53,719 --> 00:48:56,319
Speaker 1: It will motivate me to get out and run next week,

984
00:48:56,400 --> 00:48:57,080
Speaker 1: right exactly.

985
00:48:57,200 --> 00:48:59,759
Speaker 2: Yeah. So I liked how he mentioned that because on

986
00:48:59,760 --> 00:49:03,160
Speaker 2: one and someone who's more financially I guess conservative would

987
00:49:03,160 --> 00:49:05,040
Speaker 2: push back and say, no, no, no, you can't. You

988
00:49:05,040 --> 00:49:07,200
Speaker 2: can't commit to giving money away that that you don't

989
00:49:07,239 --> 00:49:09,760
Speaker 2: have yet. But I see the sort of like dangle

990
00:49:09,800 --> 00:49:12,800
Speaker 2: the carrot motivational side of that. But then he was

991
00:49:12,840 --> 00:49:17,200
Speaker 2: talking about making your giving a priority and just at

992
00:49:17,200 --> 00:49:19,480
Speaker 2: the top of the month, making sure to give that away,

993
00:49:19,520 --> 00:49:22,759
Speaker 2: Like you have the ability to prioritize that giving, to

994
00:49:22,840 --> 00:49:25,960
Speaker 2: treat it like a bill, not from a mental standpoint, right, like,

995
00:49:26,040 --> 00:49:28,200
Speaker 2: not from like a oh I got to do this thing,

996
00:49:28,360 --> 00:49:32,040
Speaker 2: like no, hopefully folks are giving happily, joyfully, right. But

997
00:49:32,719 --> 00:49:34,080
Speaker 2: I think the point that he was trying to make

998
00:49:34,160 --> 00:49:37,120
Speaker 2: is that by making sure you're doing that first, well,

999
00:49:37,160 --> 00:49:39,160
Speaker 2: you have no way of having run out of money

1000
00:49:39,200 --> 00:49:41,080
Speaker 2: because I guess what, you already give that money.

1001
00:49:41,160 --> 00:49:41,359
Speaker 3: Yeah.

1002
00:49:41,360 --> 00:49:43,160
Speaker 2: So yeah, I like that. I felt like those were

1003
00:49:43,600 --> 00:49:45,920
Speaker 2: a couple of good practical tips, right. But let's get

1004
00:49:45,920 --> 00:49:47,320
Speaker 2: back to the beer that you and I enjoyed it

1005
00:49:47,360 --> 00:49:50,480
Speaker 2: during this episode, which was a Lower Falls IPA by

1006
00:49:50,560 --> 00:49:53,000
Speaker 2: Highland Brewing out of Asheville, North Carolina.

1007
00:49:53,040 --> 00:49:54,719
Speaker 1: Would you think, man, this is what the kids refer

1008
00:49:54,800 --> 00:49:56,880
Speaker 1: to as a session ipa.

1009
00:49:57,200 --> 00:49:59,719
Speaker 2: Totally is It doesn't say session anywhere on here.

1010
00:50:00,200 --> 00:50:02,600
Speaker 1: That is what this is, yeah, and which basically means

1011
00:50:02,640 --> 00:50:06,400
Speaker 1: it's low abb and that's kind of nice. It Also

1012
00:50:06,800 --> 00:50:12,200
Speaker 1: it just means it's a very chill vibe coming forth

1013
00:50:12,200 --> 00:50:14,960
Speaker 1: from this ipa. And we're used to the big, heavy hitters,

1014
00:50:15,000 --> 00:50:18,800
Speaker 1: the mouthbusters, the ones that just assault your taste buds.

1015
00:50:19,080 --> 00:50:22,600
Speaker 1: This was nice, clean, and to me, it had more

1016
00:50:22,640 --> 00:50:25,319
Speaker 1: flavor than most session IPAs too. I'm thinking good for

1017
00:50:25,400 --> 00:50:28,800
Speaker 1: something that's three percent or whatever. This had actually a

1018
00:50:28,840 --> 00:50:30,640
Speaker 1: lot of IPA flavor going on. This is like one

1019
00:50:30,640 --> 00:50:32,080
Speaker 1: of those I would put regularly in my fridge if

1020
00:50:32,120 --> 00:50:34,759
Speaker 1: I'm like, I want some beer on my tongue, but

1021
00:50:34,800 --> 00:50:37,439
Speaker 1: I don't want something massively abrasive and huge.

1022
00:50:37,480 --> 00:50:40,839
Speaker 2: It's light, citrusy fresh. These are all thoughts that were

1023
00:50:40,840 --> 00:50:43,000
Speaker 2: going through my mind as I was drinking it. By

1024
00:50:43,000 --> 00:50:45,160
Speaker 2: the way, it's called Lower Falls IPA. Do you know

1025
00:50:45,200 --> 00:50:46,560
Speaker 2: what the lower Falls is referring to?

1026
00:50:46,680 --> 00:50:50,000
Speaker 1: I'm guessing somewhere in Nashville.

1027
00:50:49,320 --> 00:50:51,840
Speaker 2: It's I'm pretty sure it's I'm assuming it's referring to

1028
00:50:51,880 --> 00:50:54,719
Speaker 2: Grade Yard Falls, which is like a series of waterfalls

1029
00:50:54,760 --> 00:50:55,040
Speaker 2: up there.

1030
00:50:55,120 --> 00:50:56,480
Speaker 3: There's upper Falls, Lower Falls.

1031
00:50:56,680 --> 00:50:59,120
Speaker 2: Awesome swimming spot in the middle of the summer, a

1032
00:50:59,160 --> 00:51:01,680
Speaker 2: great way to feel refers not unlike drinking this beer.

1033
00:51:01,760 --> 00:51:03,880
Speaker 2: But for your story, that's gonna be.

1034
00:51:03,880 --> 00:51:04,920
Speaker 3: It for this episode.

1035
00:51:04,960 --> 00:51:07,239
Speaker 2: We'll make sure to link to some of the resources

1036
00:51:07,280 --> 00:51:09,640
Speaker 2: that Derek mentioned there at the end, and you can

1037
00:51:09,680 --> 00:51:12,840
Speaker 2: find those up on the website at Howtomoney dot com. Buddy,

1038
00:51:12,840 --> 00:51:14,799
Speaker 2: that's going to be it. So until next time, Best

1039
00:51:14,840 --> 00:51:16,720
Speaker 2: Friends Out, Best Friends Out,