311: [Mukarram Mawjood] Ai Review

Let’s dive into the world of financial freedom, especially for those of us caught in the sandwich generation, juggling kids, life, and aging parents! We’re unpacking some golden nuggets from episode 311 of the About That Wallet podcast, where host Anthony Weaver and Mukheram Maudjud from Bullionite share practical habits that can help you navigate these choppy financial waters. The key takeaway? You’ve got to start with your “why” – and no, I’m not talking about that emergency pizza fund! Knowing your deeper motivations can turn your financial journey into something meaningful and fulfilling. We also chat about shifting from a scarcity mindset to one of abundance, because let’s face it, no one wants to keep saying, “I can’t afford that!” Instead, how about thinking, “I’m choosing to invest my resources differently right now”? So grab your favorite snack, kick back, and let’s get into how we can all feel a little more confident about our financial futures!

Takeaways:

• Understanding your 'why' is crucial for financial success, beyond just making quick cash. It's about your deeper motivations and values.
• The podcast emphasizes that trading smartly isn't luck; it's about having systematic approaches and rigorously testing your strategies first.
• To achieve financial freedom, especially for those juggling multiple responsibilities, it's vital to shift your mindset from scarcity to abundance.
• Generosity plays a key role in financial growth; when you share your resources, you create space for more to come back to you.
• Embracing abundance means changing your language around money, shifting from limitations to empowerment and control over your finances.
• Time is our most precious resource, and how we trade it for money can redefine our financial journey and personal fulfillment.

Links referenced in this episode:

• https://aboutthatwallet.com
• https://bullionite.com

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⚠️ DISCLAIMER:

This content is for educational purposes only and is not financial advice. Always consult a licensed financial professional when needed.

Episode Transcript

(00:00):
Welcome back to the Deep Dive.
Today we're getting intosomething really crucial, especially
if you ever feel like, youknow, your money's pulled in a million
directions, like helping kids,managing your own life, maybe assisting
aging parents too.
Yeah, that's the sandwichgeneration, right?
And that's exactly who oursource material is talking to today.
What we're doing here isbasically a brief rundown of episode

(00:20):
311 from the about that Walletpodcast that featured host Anthony
Weaver talking with MukheramMaudjud, who founded Bullionite.
And their whole goal reallywas to give practical habits for
people in that exact spot soyou can handle it all and actually
feel good about your money.
Confident.
Okay, great.
So we're jumping right in thenstarting that financial journey,

(00:42):
specifically thinking aboutinvesting, maybe even trading in
a way that lasts.
And it sounds like the veryfirst step.
Well, it's internal work.
It absolutely is.
Look, the most importantadvice really for anyone getting
into markets or just trying toget their finances sorted and is
you have to know your why.
If you're just thinking, oh, Iwant to make a ton of money fast
and quit my job, that's not asolid foundation.

(01:05):
It's just not right.
But isn't knowing your why abit abstract?
Especially when you know thewhy for listeners might feel really
immediate and stressful, like,I need this much for rent or I need
X amount for my parents carethis month.
That's a fair point.
But that immediate need, whileit's a motivator, isn't the deep
why the deeper reason?

(01:25):
Maybe it's freedom, securityfor your family, having choices.
That's what fuels the actualdiscipline needed.
See, a lot of people thinktrading is some kind of easy way
out.
You know, a relaxedalternative to a 9 to 5.
But honestly, done rightintelligently, it might actually
be more work.
It definitely requires morerules than your day job, probably.
Huh?
More work, more rules.

(01:46):
Yeah, but here's the key difference.
It might not feel like work inthe same draining way because you're
building something yougenuinely care about, something aligned
with that deeper why.
The end goal is that freedom, right?
Living life on your own terms.
Okay, so the path isn't easy street.
It's about focused effort, discipline.
And speaking of discipline, weneed to get practical.

(02:06):
It can't just be motivation.
What about habits for, say,trading specifically?
Exactly.
The source conversation reallyhammered this home.
Before you even think aboutputting real money on the line, trading
smartly isn't lucky.
It's about systems.
You can repeat.
You absolutely must put in thetime testing Things out.
Simulating paper trading,backtesting your ideas, rigorously

(02:29):
prove your strategy worksbefore you risk actual cash.
That groundwork, it's non negotiable.
It really separates seriousinvestors from people just gambling.
Got it.
So that technical side, thatrigor sets you up for the bigger
picture.
The mindset shift needed forlong term success.
If that focus and work ethicunlocks freedom, then we need to
understand what we're tradingfor that freedom.

(02:50):
Which brings us to that shiftfrom scarcity thinking to abundance.
Yes.
This is huge.
You've got to sort of rewireyour brain on this money.
Yeah, it's essentially unlimited.
There's always more that canbe generated or earned.
What's really limited, whatyou can't get back your time.
That's the actual currencyyou're spending every day.
Yeah.
The big mistake so many makeis trading away that limited precious

(03:12):
time for this unlimited thing.
Money without getting massivevalue back in return.
Generational value, even.
Wow.
Okay, so when you look at anhourly wage, say $30 an hour, you're
actually giving up your mostfinite resource time for something
that's, well, infinite in potential.
That really reframes it.
It changes the power dynamic completely.
And embracing abundance alsomeans dropping certain phrases, what

(03:36):
the podcast called theshackles of poverty.
Things like, oh, I can'tafford that, or that's just too expensive.
We.
When you constantly put limitson money with your words, you're
basically telling abundance,nope, stay away.
Okay, that makes sense.
But it's tough when thepressure is real.
Can you give us a practical example?
What should someone say orthink instead when faced with a big

(03:57):
cost?
Right.
So instead of defaulting to Ican't afford that car, maybe try
thinking or even saying, I'mchoosing to allocate my resources
differently right now, maybetowards an investment that gives
me a better return on my time.
Mm.
See, that puts you back in control.
You're the one deciding, notjust reacting to perceived limits.
You're the architect.
That's a really powerful distinction.
Okay, so let's sort of wrapthis brief up financial freedom,

(04:20):
especially if you're in thatsandwich generation juggling act.
It really starts with diggingdeep on your intention that why?
And making a pretty dramaticpractical shift in how you value
your time and how you talkabout money moving towards abundance.
Exactly.
And maybe a final thought toleave you with something that applies
to money, but also just life.

(04:42):
The idea is the universe kindof refills you only when you empty
yourself.
When you give your knowledge,your time, even your money, it's
like you're making space toreceive more, to move to the next
level.
It's a constant forward motionfueled by generosity.
That's a great place to pausethis brief.
Thanks so much for tuning into this quick summary.
Again, this was drawn fromepisode 311 of the about that Wallet

(05:06):
podcast with Anthony Weaverand Mukuram Madud.
Yeah, and we really doencourage you if this sparks something,
go listen to the full episode.
They get much deeper intoactual trading systems and financial
education there.
Definitely.
And if you got somethinguseful out of this quick dive, please
take a second, leave us a fivestar review wherever you listen,
and maybe share it withsomeone else you think could benefit

(05:26):
someone, maybe navigatingthose same financial pressures we
talked about.
Until next time.