Podcast Ep. 11: Complaining About Your Finances?

Podcast Ep. 11: Complaining About Your Finances?

Invest In Your Life Podcast

Ep. 11: Complaining About Your Finances?

If you find yourself complaining, it's usually a signal that something's off in your life. If the thing you're complaining about can be changed, it's time to take action. If not, maybe you're fighting the reality of what is.

In today's episode, I dive into what it means to complain about your financial life and how to recognize complaining as a signal to either take action or accept things as they are.

FULL TRANSCRIPT

00:01  Welcome to the Invest In Your Life Podcast, the show where we explore the connection between personal growth and personal finance. My name is Patrick King, and in each episode we'll talk about what you can do to live a life that's truly rich. Don't take this the wrong way, but I am not giving you advice. I only give advice to clients who have hired me to be their fiduciary financial advisor. If you're not one of those folks, then just consider this to be helpful tips and information and be sure to consult with your financial advisor, your attorney, your CPA, your witch doctor or your mom before you try this at home.

01:01 Hello there folks, I’m Patrick King, the host of the Invest In Your Life Podcast. Thank you for joining me today. I've got a great show for you. Complaining. If you find yourself complaining, what does that say? What actions do you need to take? We're going to jump into that here in a little bit. But Right now I want to let you know that I've created an ebook called the Five Secrets of the Ultra-Wealthy. You know, over the years I've worked with CEOs of some of the world's largest companies, all-star and hall of fame athletes, Grammy winning recording artists, even one of the world's wealthiest bologna salesman.

01:47  And of course, all kinds of folks from all walks of life. But one thing I've noticed over this time I've been able to see firsthand how some of these ultra-wealthy families think and invest their time and money. So, if you've ever been curious how those people at that level of wealth think and invest, go to www.investinyourlifepodcast.com and check out that ebook today. Go ahead and download it. www.investinyourlifepodcast.com. It's Five Secrets of the Ultra-Wealthy. Check it out.

02:30  All right, my gratitude. Gratitude section here. Gratitude for today. Man, I am so grateful that I don't have allergies, or at least I'm not allergic to the things that are outdoors. You know, I'm here in Atlanta, and if you're an Atlantan like myself, you know, this is like the Bermuda triangle of allergies for a lot of people. So even though I'm not even allergic to a lot of the pollen and stuff here, the air quality can get so bad, it can still affect me just cause there's so much crap in the air. So even though the air quality is bad, I'm not having these allergic reactions that a lot of these folks have now. I am allergic to cats. So, if you throw a cat at me, I'd probably end up in the hospital, but – why on earth would you be throwing a cat at me? So, I don’t know where that came from. So, I'm just grateful that I can still go outside in all this pollen. Even though we're kind of wrapping up the heavy pollen here, I'm just grateful that I can be outdoors in the springtime and not go into anaphylactic shock. All right. That's enough of that. That's my gratitude for today.

03:53  All right. The topic of the day: complaining. So yeah, this is an interesting one and it's always something that I have to catch myself with. If you start getting a little bitchy about things, complaining. It's a signal you need to take action. And I'm going to read you a quote here, and it's kind of a long one. So stick with me. I'm going to go slow because I can't read super-fast because my mind and my mouth don't always work at the same speed. All right, so here's the quote, see if you can catch, see, yeah, there we go. Messed it up already. “See if you can catch yourself complaining in either speech or thought about a situation you find yourself in what other people do or say your surroundings, your life situations, even the weather to complain as always nonacceptance of what is it invariably causes, or excuse me, it invariably carries an unconscious negative charge.”

04:55  “When you complain, you make yourself into a victim. When you speak out your empower. So change the situation by taking action or by speaking out if necessary or possible. Leave the situation or accept it all else's madness.” And that was from Eckart Tolle. So, complaining is often – you know, for me when I find myself bitching about things, it's usually a signal that one of two things are happening. That I've made myself a victim in this situation. You know, just like the quote mentioned or I'm not accepting what is. And I'm going to dive a little bit deeper there. There's a book I read once it was recommended to me by my coach. It was called Loving What Is by Byron Katie. So, you can get upset about things all the time. And politics is a great example of this right now, especially, I mean either side of the aisle, you can get upset about it, but complaining about it, especially if you spend in a lot of time or mental energy around this or anything in your life.

06:06  And you know, it wouldn't have to stick to politics here. It's not accepting the things the way they are and to think about what should be. It should be like this. It should be like that. But often in life, it isn't, right? This isn't a case of what's the ideal scenario. It is what it is and it may not be ideal. Complaining about it, however, isn't going to help things, right? It's not going to put you in a great mental state and it certainly isn't going to change things. So, you get two options. You can accept it and move on or you can work to change it. So, if you're in your life and whatever it is, and you know, this show, I kind of pull things back to personal finances, you know, so if you're complaining about your current income situation, your expenses, or this is too expensive, or I want to do this, you've got two options.

07:06  You can let it go and accept it or you can do something to change it. You know? There was another quote... Let me see if I can pull this up real quickly. This was, uh, oh Geez. I can't believe I'm about to quote Lou Holtz here, being a Clemson person. “Never tell your problems to anyone. 20% don't care and the other 80% are glad you have them.” So, that's actually a good quote, even though Holtz is hating on us a lot. I’ve heard he's actually a good guy in person, but you know, I had to throw that out there. So anyway, complaining. What is it you're complaining about? And then when you catch yourself complaining, just think of that as a signal. It's a signal to take action or it's a signal that things go. All right. That is the topic of the day, by the way, it's the topic of the day now because the transcription service that I use can't get “topic du jour”. It can't get “pura vida” right either. But you know, you gotta do what you gotta do. I'm adapting. Okay. Enough of that.

08:24  All right. It's time for Q&A. Today's question comes from somebody here in Atlanta who wants to know if he needs long-term care insurance. And this is a tough one. Long-term care is a tough one because, right now long-term care insurance is expensive. You get it to cover your medical expenses as you age or if you need to go to assisted living or nursing home or something like that. Long-term care would cover part, if not all, of those expenses depending on how much you buy. But it's gotten really expensive these days. So really if you can afford long-term care insurance, you can most likely afford to self-insure for those expenses in the future. And if you need long-term care insurance, chances are you can't afford the policy premiums.

09:25  It's a “damned if you do, damned if you don't” type of situation and it’s something that I feel like I need to bring up to clients. In most cases, it’s something that’s baked in to all of their financial planning, because it could get quite expensive. But, I think, if you actually need some sort of long-term care coverage for those expenses that are related to aging, nursing care, a nursing home, assisted living, in-home care... All of a sudden the English language left me there. But there's something that's a blended life insurance / long-term care insurance policy. And of course, like all these insurance products, man, the devil's in the details. It's an option. It may not be the best option for you, but it's something to look out for. I don't sell insurance.

10:18  I'm a fee-only planner, which means that I don't make any commissions or sell any products or anything. So, when I review all of this for my clients, I will bring in one of these folks that I trust, who are salespeople and are experts at this, and to go over the details of the policy. Don't just run out and buy one. That could be an expensive, expensive venture. But there is a solution out there for you. So, if you've got questions on this, he hit me up. This is a tough one. patrick@investinyourlifepodcast.com. The website is www.investinyourlifepodcast.com. Happy to point you in the right direction. If you've got questions over long-term care or any of the insurance stuff, like I said, I don't get paid for any of that stuff. So happy to talk with you about your situation if you need some guidance. So that's Q&A today.

11:23  All right, time for the Pura Vida. Pura Vida today: I am heading out to Tampa. I'm going to Tampa and I am going to meet with my buddy, Bryan, a longtime friend. We’ve known each other forever. So, the Pura Vida aspect of this is that I love that I've built a business that allows me to do stuff like this, to take off on a Thursday. I’ll do a little work from Tampa remotely on Friday. It's cool that I've done this and I love that I actually do it. It's so easy for me to put a lot of pressure on myself, having built a business. Folks ask me about building a business. But it's a real mental challenge a lot of times to actually take advantage of the freedom that I've created by owning my own business. It's tough because I feel like I should be doing a certain amount of work, which is silly because I work so many hours. But anyway, the Pura Vida this week is that I'm actually taking advantage of owning my business and heading down to Tampa. So, I'm excited about that, excited to see Bryan and excited to get down to a warm and sunny Tampa. Tampa is a cool town if you've never been down there. So that is the Pura Vida today.

12:51  Okay folks, that's the episode. Nothing to it. Complaining. What are you complaining about? Write me and tell me what you're complaining about. What do you catch yourself complaining about? What do you have a hard time letting go? What do you have a hard time accepting? I’d love to hear from you. Also if you've got questions or if you've got topics that you want to hear me talk about, hit me up, patrick@investinyourlifepodcast.com. The website is www.investinyourlifepodcast.com. Check out those free resources including the Five Secrets of the Ultra-Wealthy that I mentioned earlier. And if you're looking for help with your investments and you're just starting out, I’ve created a free course called the No B.S. Guide to Investing. And – geez – I just realized I hadn't been cussing at all. I wonder if I'm okay? Anyway, hit me up. I'd love to hear from you. Hope you enjoyed the episode today. And until next time, take care. Thank you for joining me today. To find out more and get access to my free financial resources visit www.investinyourlifepodcast.com.

14:05  The thoughts and opinions expressed here are my own and or for general information only. They are not intended to be recommendations or specific advice for anybody. I'm not a doctor or a licensed therapist, so please consult with your healthcare provider if you have any issues regarding your physical or mental health. Any investment performance that's referenced here is historical and of course has no guarantee of future results. Last but not least, the Easter Bunny isn’t real.

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