[0:00:53] The Psychology of Money
Samuel studied neuropsychology and went on to teach people how to manage their money, heal their relationship with money, and heal their relationship with debt. The first step in healing your relationship with money is to track it–you can’t make good financial decisions if you don’t know where your money is. Personal development and appreciating assets are the best investments a person can make. If you add enough non-monetary value to society, you will receive monetary value in exchange.
[0:08:02] Financial Management
Samuel helps people with financial products and strategies to manage their money. He insists that having a healthy relationship with money has to be the starting point. Most people are taught to fear money, hoard it or save it, but they don’t learn how to grow it. Leveraging other people’s money is a wise thing to do if the result is a net positive.
[0:11:50] Early Life
The seventh born in a family of 11 kids, Samuel started working at the age of 11. He spent most of his early earnings on clothes and soda pop. No matter what income someone has, they should start investing and develop the identity of an investor. Becoming debt free is great, but people who want to be wealthy shouldn’t stop at being debt-free. When you draw a lump sum, don’t spend it all on consumables. Don’t hoard your money–use it money to make more money.
Legacy is what people will be saying about you in six generations. Samuel’s mission is to help people gain the financial confidence to build the legacy of their dreams. One way he’s doing that is through the e-book, Fueling Your Legacy: The 9 Pillars of a Meaningful Life. Everybody has a unique gift and unique purpose in life. Samuel was sometimes severely punished as a child but, looking back, he’s grateful for those experiences. He and Brad share give opinions on how to discipline children.
[0:26:39] Practice What You Preach
Sometimes don’t follow the advice they give to others. Though they know what they should be doing, they find it hard to unlearn bad habits. Samuel follows his own savings and investment advice despite the money habits he learned in his youth, and he helps others do the same–healing their relationship with money. Admitting your parents were wrong doesn’t mean they were bad parents.
[0:30:11] Lessons Samuel Learned
He went to school to understand himself and help other people break free from negative patterns. In neuropsychology, Samuel learned about the brain’s construction, what impacts its development, and how chemical environments influence it. Einstein’s “Rule of 72” should help you set the right goals. You get what you focus on, so be sure to adjust for inflation. Knowing what you want for your future, helps you decide what action to take today, even in your career.
[0:39:20] SMART Business Goals
SMART is an acronym for Sexy, Massive, Audacious, Remarkable and Transparent. Do you have a sexy vision/mission/crusade for your company? Is it massive enough? Is it audacious enough? Is it remarkable enough? Are you being transparent? Too many bad things happen because someone doesn’t have the right information, that’s why Samuel and Brad are sold on the idea of getting knowledge from the people who have it to the people who need it.
[0:44:56] The Wealth Mindset
Once you know where your money is going, check if you’re okay with it. If you think you need to make an extra $10 a day, look for what you can sell to get that extra. When someone switches from a mindset of fear to a mindset of wealth, they begin to think about what they could do to add value–what skills they can monetize.
[0:50:19] Public Speaking and Podcasting
His grandfather spoke what seemed like a prophetic word and from that moment, Samuel identified as someone who can lead with his voice. He enjoys public speaking, he releases three podcast episodes each week, and he helps people with both the psychology and management side of money. Three books the bomb Squad should read: The Power of Zero, The Richest Man in Babylon, and The Millionaire Next Door. Most people with money are rich but not wealthy. Parents cripple their children when they assist them financially.