Podcast Ep. 13: Taking Action

Podcast Ep. 13: Taking Action

Invest In Your Life Podcast

Episode 13: Taking Action

What's the #1 way to move toward your financial (and life) goals? Take the first small step. In this week's episode, I talk about the power of taking that first, small action toward your goals.

FULL TRANSCRIPT

00:00  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  Welcome to the Invest In Your Life Podcast. I'm Patrick King, your host, and I'm happy you've joined me here today. I've got a great episode for you. But first I want to tell you about the Five Secrets of the Ultra Wealthy. Over the years I've worked with CEOs, all-star athletes, Grammy-winning, recording artists, and dozens of other ultra-wealthy folks. And I've been able to see firsthand how they think and how they invest their money and their time. So, if you've ever been curious about how those people at that $50, $75 $100 million net worth level think and invest, jump on over to www.investinyourlifepodcast.com and click the resources section, find that Five Secrets of the Ultra Wealthy resource and check it out. Let me know what you think. You might be surprised, you might be underwhelmed. Let me know what you think about that. But all right, that's that. So let's just jump right into the topic of the day.

02:12  So, my topic of the day today is taking action. So, it sounds like kind of a simple thing to talk about, right? But often simple things can be the most complex. So what I mean by taking action is that, you know, the number one way to improve your life or change things for the better is to just start. It's so easy to over-complicate things, to overthink things. And let's just be clear right off the bat, this topic and this podcast episode is just as much a reminder for myself than it is me sharing information with you. I find, especially when I was younger, that I would often fall into that paralysis analysis or analysis paralysis, paralysis by analysis. You know what I'm talking about? That was me, like, big-time for a long time when I was younger.

03:14  And as I've gotten older, I've learned to just let go of a lot of that. And certainly having started my own business, you're not going to get a whole lot of things done if you're sitting there mulling over decisions that need to be made all day, every day. That is a great way to not be in business for very long. So yeah, so just wanted to put that out there and not say, “Hey, I'm coming from this place of I've got this thing licked”. Right? It's way, way too easy and whatever that goal is, whether, you know, it's, you're talking about improving your finances or getting in shape or having better relationships, or just learning a new hobby, whatever it is, playing piano, whatever you want to do. I'll know where I got piano from just there, but, but you know what I'm talking about. Um, and this quick aside, you know, I wouldn't it be an awesome life lesson, just like just to teach a young person. Like if I was teaching my like 15 year-old self, I'd say, just learn, “Don't Stop Believin’” – just that piano intro piece – and you've probably never be alone. You can go anywhere in the world and make a friend, right?

04:29  Anyway, total aside there. And if you know what, and you know what I'm talking about, don't you? Everybody loves that song. So, if you just play those first few bars… Anyway, it's way too easy, no matter what you want to do in life to sit there and say, I need to read one more book. I need to listen to one more podcast. I need to watch one more YouTube video before I know enough to get started. And that's a trap. And I've, I've obviously fallen into that trap before. At some point, there's never going to be perfect information. It's just time to get started. And taking that first step. I've found, and obviously others have too, is the greatest way to get on that path and take action towards that goal, whatever it ends up being. So yeah, I'm plenty of people feel like they need to be motivated in order to take that first step, but that's not necessarily how it works.

05:36  It's taking action that actually creates motivation, creates the excitement. So, taking action is the key here. So have you ever, my example of this is have you ever booked a flight or booked a hotel for a vacation and then started getting excited about it? I know this happens to me a lot when you start talking about, oh, I want to go travel here. Soon as I book that flight, I started getting pumped. Isn't that funny? I don't know. I mean, tell me if you've experienced that or not, but for me, that happens all the time. As soon as I put that money down for that flight, it's like, oh yeah, we're going. And then you get to enjoy that anticipation of the trip or whatever it is. Even if it's not, you know, the itinerary isn't fully booked out or whatnot. Yeah, getting started is the key to getting motivated and getting excited, not the other way around.

06:38  So, when it comes to big projects, you know, starting can get intimidating if you're thinking about all of the stuff that you need to do in order to go get your MBA, for example, or to start a business. Man, you may not ever get started, but if going back and getting a graduate degree is something that, that you're thinking about, yeah, it's a lot of work, but just start by signing up for the GRE exam, just that little bit of action is going to set you in motion towards get towards that goal of getting your graduate degree or your MBA or whatever it is. So yeah, thinking about all that work can lead you to procrastination and you know, that's the road that we're all familiar with and it's not a good road to beyond, it's not a very energizing path to walk.

07:35  So yeah, that's when taking that, just the smallest step can help. So yeah. Grad school, sign up for the GRE. You want to lose weight to slice up your sneakers one day and walk out the front door, even for a five minute walk. You just do that over and over and build that habit. You're on your way. If you want to get your finances on track, you know, I'm always talking to bring this all back and tied into having finances that support the life that you want. If you want to get your finances on track, why not just start by automatically deducting 50 bucks a week, an extra 50 bucks towards your savings or your investments, whatever it ends up being. Just take that little step first and then that'll lead to the next one. Of course you could call a financial planner. Shameless plug there.

08:32  So yeah, I love, and I'm going to totally bring a cheesy movie into this, but I'm like, I'm a like a big sci-fi / horror fan. So, you know, those Aliens movies, there's that movie, Prometheus, where though one guy says, “Big things have small beginnings”, and that's kind of what this all about. And I know there's like total wisdom coming from, like, a B movie. Even though I really liked that movie, you know, um, yeah, it's not an Oscar winner by any means. But yeah, but that's true. Big things do start small. You know, the first, um, what does it, the, the first, the hike of the, the are the first scale of the mountain starts with the first step? I totally butchered that quote, but it's the same kind of deal. And you know, one thing is that willpower is a finite resource.

09:27  So, when it comes to taking small steps, I'm always talking about building habits and routines. So, if you can make a small step every day, incrementally change, all of a sudden that compounds over time and those things add up quickly. So, in order to preserve your willpower, make it a routine, make it a habit, take that small step every day. And if you're having a difficult time taking that first step, ask yourself why, you know, what are you avoiding there? You know, often, achieving a goal maybe that we've put out there for us might conflict with our ideas of who we are. It may idea our idea. It may cause a conflict with, um, I'm going to try my best not to edit that last little bit where I tripped over my own words. But, uh, having a big goal may conflict with the limiting beliefs that you've taken on, over time, that others have put on you.

10:38  That's a big one. You know, where if you've got family members saying, “Oh, you're just not good at math”, or you're not good at whatever, at some point you believed that person, if that's what you're bumping up against. So, if you're resisting getting started on a path of something that you want, just take a step back and say, “Huh, what's going on here?” So yeah, moving in a direction of positive change. I hate to break it to you, but it's always going to be uncomfortable. Now also in the, uh, I guess a bin of tough news is all of life will be uncomfortable in some fashion. So here's my challenge to you. Do you choose the discomfort in your life by working towards something that you want or do you accept the discomfort of regret in wasted potential and yeah. What do you would you prefer to do?

11:46  So, that's kind of my question to you. It is going to be uncomfortable, but take it a little bit at a time. You know, we don't to cut through big swathes of changing our lives. It just starts by taking action. So whatever it is in your life, just take that first step. That's my that's my topic of the day. If you enjoyed that, if you think it was full of shit, let me know. You can hit me up, patrick@investinyourlifepodcast.com and visit the website, www.investinyourlifepodcast.com. Let me know what you think. If you've got ideas, you've got questions. If, yeah, I'd love to hear it.

12:33  Alright, time for the Pura Vida / gratitude, all these sections, I'm just combining them today. One thing that I'm really grateful for, and this kind of really rolls up into both gratitude and Pura Vida, this weekend my sister got married and I was there. I did the reading in the ceremony which went really, which went well. I only tripped over my words and once. But I really, really enjoyed being, it was a special moment for me because, I love my sister and she's just seemed so happy. The guy that she's marrying is amazing. I got to meet his entire family. It was just so much fun. And there was a moment where I was the impromptu photographer at the end of the night and got to take a picture of them of course, like walking out the line of bubbles and getting into the limo and all that.

13:34  And I was just so grateful that I've got an amazing sister and amazing family and that she's happy, that it was just overwhelming. It was just overwhelming and it was just an amazing moment. So grateful for that. Such a good life I've got. And um, yeah, that's kind of all that Pura Vida and gratitude rolled into one. And in now, yes, it's back to reality. Getting back to the routine, you know, as much fun as I've had over the last few weeks, going to see Bryan in Tampa and then going to the beach for Memorial Day and then Lesley’s wedding. There's a lot of late nights for me. So it's getting back to the routine, getting back to a fundamentals of eating right and getting plenty of sleep and getting the exercise. So yeah, paying for a little bit of those late nights now, but it's all good. Very, very grateful and I've got a great life. So yeah, that's what's happening for me today. Okay. That's it for today. Short and sweet. Thank you for hanging around. I appreciate you being here. If you've got questions, if there's a topic that you want to know about, hit me up, patrick@investinyourlifepodcast.com. The website is www.investinyourlifepodcast.com. I’d love to hear from you. And until next time, cheers.

15:01  Thank you for joining me today to find out more and get access to my free financial resources visit www.investinyourlifepodcast.com. 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 had any issues regarding your physical or mental health. Any investment performance this referenced here is historical and of course has no guarantee of future results. Last but not least, the Easter bunny isn't real.

Podcast Ep. 12: Values-Based Investing

Podcast Ep. 12: Values-Based Investing