November 22, 2024 • 29 mins
Ready to redefine the idea of success and embrace a more fulfilling life? Join me, Michael Kane, on Living Your Success 24-7 as we navigate the holiday season with a focus on connection and community. Together, we’ll explore how true success is measured not by financial gain but by the depth of our relationships and the quality of our lives. Discover how crafting a life plan that incorporates your career goals, personal desires, and spiritual beliefs can lead to a more satisfying, regret-free life. Whether you're contemplating a move, planning for family, or seeking like-minded communities, having a comprehensive roadmap can transform your dreams into reality.
We'll also tackle the often daunting world of financial planning, stressing its crucial role in achieving future prosperity. Dive into practical strategies like saving a portion of your earnings and organizing finances into dedicated accounts to manage your resources wisely. We'll examine the evolution of the "American Dream" and how each person can chart their unique path to success. Learn how to balance financial responsibility with the joys of living in the present, ensuring that you’re not just prepared for the future but also making the most of today. Listen in and equip yourself with the insights to not only plan but thrive in every aspect of your life.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Well, hello there.
This is Living your Success24-7 with Michael Caine.
Hey, how you doing everybody.
Thank you for giving anotheropportunity to impart my
experience, my way of thinking,my life and my purpose of
(00:24):
helping others.
Thank you for that opportunity.
I appreciate each and every oneof you could be doing something
else, so I appreciate you.
So let's jump right on in.
Ooh, this year is almost over.
Man, it's inching, Wow, gettingclose to Thanksgiving.
And then, you know know, oncethanksgiving happens, guess what
(00:45):
happens after black friday andcyber sales and stuff.
Boom, christmas, christmasdecorations, trees, lights
everything is going up alreadyin our house.
We we're already halfway theredecorating for Christmas.
So it's a good time?
Uh, definitely, and it's morethan just the giving
(01:09):
spirituality aside it, it'sabout to fellowship.
There's a way of fellowship,and with family and friends,
those closest to us.
So it's important that, uh,it's important that you know we
participate in these things.
It's again, life's too shortand it's good that we get an
(01:33):
opportunity to be with thosethat are most dear to us.
And for those of you who arechallenged that perhaps you
don't have a lot of family orfriends, I recommend I'll do
podcasts on this.
Uh, probably next year.
Uh, as far as get involved incommunity things, events and and
(01:56):
groups and um to help to betteryour community, wherever that
is community, wherever that is.
So, um, you know to and you canattend uh events that you know
that you're interested in.
And in our show, living yoursuccess, you know we talk about
success beyond the almightydollar, beyond just making money
(02:20):
for money's sake.
It's about having a quality oflife, a life, yes, worth living,
the life you always wanted.
True, money's important to thatend, but it's important that
you don't lose sight of the truemeaning of things, true meaning
(02:47):
of people, places.
Not to get all preachy on you,but yeah, but money is a tool,
it's aptitude and you need moneyto get around, to purchase
things, to have a quality oflife.
That helps you have a qualityof life, because some people
that have millions of dollars,they don't have the quality of
life.
Because some people that havemillions of dollars they don't
have the quality of life,they're not happy, in other
(03:08):
words.
So the goal in my show hereLiving your Success 24-7, is,
yes, we will save our money.
We will encourage you to spendwisely, invest wisely, take
vacations wisely, go out to eatwisely, not spend all your money
up.
So my soul, that's what willhappen.
(03:31):
Uh, you will uh be giveninsights to, in my opinion,
because everyone's different.
We can agree to disagree, butand but we all experience some
degrees of hardships, challengesand obstacles in our path,
(03:52):
wandering God or whoever youbelieve in or not believe in.
What am I going to do to get outof this one?
Okay, just got out of anotherone.
I'm in another pot of boilingwater, so how do I get out of
this?
I've been there, done that.
I'm in a you know another potof boiling water, so how do I
get out of this?
I've been there, done that,been in several.
The key is to learn and to actupon that learning.
(04:14):
Some folks, perhaps you can see, never learn, or they just
they're not believers in beingprudent.
You know, I being polite here,some people just stay in that
hot boiling water.
They stay there and then theydie there.
So we don't want that to happento you.
(04:38):
And so I also wanna talk aboutand we'll jump back directly on
investing in money on this showin a moment, but I want to.
You said it three timesyourself.
I was thinking about how can weavoid regret, and this is sort
(05:03):
of related to the topic of money.
I don't know about you, but Iknow I have regrets on blowing
money and not investing it theway I should.
So what can we do?
It's called prioritizing ourlife based on to the plan we
(05:26):
have for our lives.
Meaning well, you say, well, Idon't have a plan for my life.
Well, that's a problem, youknow it.
You can't speak for everysecond.
You're gonna live on this earth.
But you should have a uh, somekind of plan that says, well,
this is what I want my career tobe, or job, and that's a whole
(05:49):
episode there between what a jobis and career.
Job is something you just dofor money.
You need money, survival mode,or you just like it, but it's
not your passion and not yourheart.
It's not what you want to dowith the rest of your life.
A career is something that isdeep and so that's part of your
life plan, plan that says, well,I want to live in this state or
(06:13):
this country, this region ofthe world.
This is my plan.
I want to have kids, four kids,two kids, five kids, one kid,
no kid.
Plan for your life.
This is what I want to believein spiritually, and these things
can change, by the way,absolutely, and you're not stuck
just because you plan and putthis on ink, to paper or video.
(06:38):
And so what do I want my lifeto be?
I want to be able to wake up inthe morning with a breeze of
the ocean, so I want to livenear the ocean, within a mile or
two or whatever those kind ofthings.
I want to get married one dayor stay single, or you know,
(06:59):
plan for your life who yourcircle is your life, who your
circle is what, what committeesyou want to be on could be
business association,professional groups or hobby
groups.
You can see that on facebookthat all these groups I belong
to several and it's like you'reconnected with like-minded
(07:23):
individuals.
It could just be for fun, itdoesn't always have to be for
the almighty dollar, but so andyou come and go.
I belong to some that I nolonger participate with, but I
want to make that part of myplan to, every few months, go to
some kind of meeting or event.
It could be a rah-rah meeting,you know, to pump you up, to
(07:46):
keep you going, to motivate you.
Everybody needs some kind ofself-help or or some kicking the
pants to get moving on aproject or a business idea or
entrepreneurship, or just, uh,one of those things you have to
do around the house to get thelike.
Us get the fence fixed, whichwe're working on, very expensive
(08:08):
, by the way, wow Anyway, butthey last 20 years, 30.
So planning ensures you don'tjust live by accident.
Now will there be things thathappen to you that are unplanned
, of course, good things and badthings, but you do wanna
(08:32):
anticipate and be forewarned onmany things.
And so let's go back to money,money, money.
What is that?
The OJ's money?
I like this song.
There's a couple of money, thatmoney money.
What is that?
The OJ's money?
I like that song.
There's a couple money, thatmoney song.
And so let's say you choose yourcareer, your job, whatever you
(08:57):
want to call it, and you workthat.
You work hard, don't you?
What a silly question.
Work hard for your money.
Was that Donna Summer?
Work hard for your money?
So hard for you?
Okay, you get it.
So hard for you, okay, you getit.
(09:24):
So I brutalized that song,didn't I?
You want to use that money.
I'm leading the witness, by theway.
You work hard for your money.
So hard for you, man, and whygive it up, something that took
you hours, days, weeks, months,years, decades to build?
Why do you want to wipe it outin 15 seconds an hour, two hours
(09:51):
a day a week, without anyplanning?
You know not that you shouldn'tearmark money for fun?
Yeah, we just came off ourthird vacation this year and we
budgeted for it, knew how muchwe're going to spend and how
(10:13):
much we're going to save, firstof all for it, and it's
important that you respect themoney that you worked so hard
for to go to live the life youwant to live.
And I doubt many people wake upin the morning to say you're
(10:34):
right, michael, I just want tospend all my money and go broke
and go bankrupt.
I'm sure most people don't saythat, but many people do it.
They put $60,000 on a vacationand don't have the resources to
pay their credit card off in thenext five years, ten years, one
(10:54):
year.
The next five years, 10 years,one year.
Now I don't want to spend thewhole segment of my show saying,
well, that was stupid, teachhis own.
It wasn't wise.
If you don't have money, you'realready struggling.
That would not be wise.
I'll use nice language.
That will not be wise Thinkabout it is if you do it again
(11:15):
right after that.
Let's say it takes you eightyears to pay that off.
Then you do it again.
Then, yeah, maybe it is anothercategory of not smart and
adding to the more number ofyears you'll have to work to pay
it off and make it up.
You know, do you really want tohave to work in something you
(11:37):
may not even like?
That's a whole nother podcasttoo.
Do you even like what you do?
Because if you do, or you ownwhat you do, let's say you own a
business.
That is a little different,folks.
So let's say you hate your job,why put yourself in a position
to have to work there longerthan you should have to?
Why put yourself in a positionto have to work there longer
than you should have to?
So balance your life should bebalanced.
(11:58):
We're looking at a balance.
See, we have two extremesPeople that play.
That's all they do is play.
Don't have anything to show forlife, don't have nothing to
show for it.
Then you have the other extreme.
People don't do nothing, goanywhere, hoard everything,
hoard their wealth, money andtime, energy, and then they die,
never fulfilled.
Maybe in the back of their mind.
(12:20):
They wanted to go to Germanyand Italy, france or Switzerland
or name your country of choice.
But they say, ah, that's toomuch, I don't spend that kind of
money.
But you do that every year,every year.
Now you're so old, you can't,and you die.
That's sad.
Both of them are sad, hoarding,essentially, and foolish,
(12:46):
playing around all the time butnot taking life a little bit
more serious.
So those two are strings youwant to avoid, you know.
So I encourage you to focus onyour income, because that's the
(13:07):
source, is earning it.
We can't even begin to talkabout saving, and let alone
investing, without talking aboutearning.
What are you going to do tomake it, make your money?
Now?
Some people say, well, there'stwo pathways.
There's going straight out ofhigh school, going straight to
(13:27):
college, and then the others gostraight out of high school to
vocational school, where theylearn a trade or skill and they
can start earning money fasterthan a college graduate after
three, four, five, six, sevenyears going to school.
Maybe they went for theirmaster's too.
And they're not all just broke,they're broken broker.
(13:49):
Broker brokers broke, broke tobroker to, and so what?
The person that maybe learn howto be a plumber or some kind of
software tech or something he'smaking money now.
He or she they want, after sixmonth or one year program, the
(14:11):
certificate or program like that.
So certificate or program likethat, so?
Um, it comes down to againwhat's your plan?
You got to take time to soulsearch, do your research, talk
to other people in yourpotential field, see how, get
(14:35):
you know, visit colleges to 10seminars and workshops and
educate yourself on on.
That'll help you make you cometo a decision what you want to
do with your life.
You don't want to be searchingand wondering for until you're
40, 50 years old, half of yourlife is gone.
(15:00):
It's important that you takethis serious enough to take the
necessary action you need to doin order to, uh, get on the path
of what they say used to thegood and plenty.
Get on the path of what theysay used to be the good and
plenty, a road that's full ofgold and diamonds and pearls and
(15:22):
platinum right, okay, silver.
You want to get on that road toprosperity is what they call it
, it's what I call it, and um,so it's important that you
dedicate the time, energy foryour life, as you do with trying
(15:47):
to buy a car or choosing anappliance like a refrigerator,
or going to see a movie.
You need to take it moreserious than those things and so
have hope that you canparticipate in prosperity.
(16:11):
Now we historically call thatin America the American dream.
But I don't know about theAmerican dream and that's fine.
I don't know if I care for theexpression anymore because it's
mutated and changed the Americandream, what does that mean?
And you have to be for sure.
(16:33):
There are obstacles in yourpathway and when you plan,
you'll identify those blockages,hindrances, obstacles to your
promised land.
Not everybody's promised landis the same.
Mine is different from yours.
(16:55):
I have a different mountainclimb than yours, or maybe we're
on the same mountain, but wehave different reasons to be on
that mountain and differentexpected conclusions to be on
that mountain and differentexpected conclusions to be on
that mountain.
So, and my definition ofsuccess and prosperity and
health may be different fromyours.
Okay, everyone's different.
(17:15):
So two people are alike.
Even if you're twins andtriplets and quadruplets, you
still you're different.
They have things that aresimilar, but talk to people,
listen to people, observe people.
But you ultimately have todecide how you want the makeup
of your life.
(17:35):
And so, and I wish in juniorkindergarten they started
teaching about life, real lifeand money making money, saving
money, investing money.
So by the time you graduate highschool, we're all experts, if
(17:56):
we choose to be.
There will always be peoplethat don't want to listen to
nobody, don't want to learn orwhatever.
They'll always be people likethat, always, and so they won't,
don't want to participate.
That's fine.
We are most.
Most of us are in freecountries.
So hope, yeah, most of us are.
(18:20):
But money is a tool and so don'tworship it.
It doesn't need to be worshiped, but it's desired because it's
a part of our means of exchange.
We don't exchange rocks anymoreand we do.
There is bartering.
For sure, I participate inbartering, but for the most part
(18:44):
, whatever currency, whatevercountry you live in, that's the
currency.
Uh, you need to earn and saveand and move the conversation
further, what do you mean bysaving?
I would say, for every dollaryou earn, do your best to save
(19:05):
five to 10% of that.
So, off a dollar, what is that?
Five cents, 50 cents or adollar, right?
Or a nickel or a dollar?
And wow, let me get my mathright.
(19:26):
So, yeah, and so if it was,obviously it's exponential.
You earn $100, 10% of that iswhat?
$10, right?
Or 5%, $5.
So, ooh, now Michael's math isgetting straight again.
Moment, a lapse of uh, mathmedical ability for a moment,
(19:49):
whoa.
So anyway, that was simple, butanyway, gotta laugh at yourself
, say, oh my god, what did I say?
Okay, come back to earth, comeback to earth, come back to
earth.
So, at any rate, you want tosave as much as possible.
If you, for every dollar, cansave 20 cents or 30 cents, god
(20:12):
bless you.
Not, all of us can do that,right, and I would encourage you
to do as much as humanlypossible, but, no, not below.
Whatever that magical minimumis is good for you.
And then you want to save foremergencies.
(20:35):
You've heard this stuff before,this part.
Yeah, what's emergency?
Anything can happen.
You want to have that wholecold, hard cash right there in
this, with immediate access.
And then, um, after that, youwant to start thinking about
saving.
What I do is I read this bookand it's called I think money is
(20:57):
my friend, I believe that'swhat it's called many years ago.
And then gosh decades and youdedicate these accounts toward
your goals, like you had amillionaire's account, a
financial freedom account andvacation fund account and I wish
(21:22):
they taught that so very.
You give your dollar, you earna name and that's all.
Its purpose is to getting thatmillionaire accountification
fund, house repair, phone, carrepair fund and that's all it's
meant and you know and youdedicated to it.
To me that's the easy way ofdoing it.
(21:43):
There's some accounts that'lllet you subdivide your account.
You have a main savings account.
Then you could break it up intoseven, eight different
categories, like sub accounts.
So not all of them will do that, but, um, we used to do that
back in the old days theenvelope method, where you have
a white envelope.
(22:04):
You write down what goes wherethat money goes in that envelope
.
So it could be house, home, car, vacation or fun envelopes, any
dollars that go in that.
That's meant for fun activitieslike amusement parks, movies,
stuff like that.
(22:24):
You get it dining out and youknow where your money's going
and notice balance of fun andenjoy stuff.
With the business of hard workand saving, investing for the
future, you're, you're savingyour investing, saving all these
(22:48):
things, sacrificing some partof your present for a wonderful,
fantastic future.
Again, it's up to you.
The numbers and percentages dowhat's comfortable, but make it
meaningful, you know, and alsowatch your spending again.
(23:11):
Don't knock out things that youlove.
Now another conversation is youknow health, but we'll get to
that in a moment.
But it's important.
But we'll get to that in amoment, but it's important that
you earmark these things and youstick to it with the greatest
of discipline.
(23:40):
Now, with health, without yourhealth, all this is over.
It's not.
The game is over.
Life is over if your healthisn't right.
So, eat as healthy as you canbe, exercise, and each one is
different to whatever that means.
So I started doing that more.
Uh, I feel better.
I actually feel better.
You just have to dedicate sometime and energy.
Grab some money some cases likea gym and, uh, some cases like
(24:11):
a gym and uh, don't stick to itand be committed.
Don't overthink it, don't everoh, I gotta go, just do it, have
fun.
And so, and after you startsaving adequately enough, you
start thinking about, okay,participating maybe if your job
has a 401k or you don't have oneat work a Roth IRA or
traditional IRA.
(24:32):
These are retirement vehicles.
You can save money, you caninvest and it grows over time.
Money you can invest and itgrows over time, and the goal is
, once you build up theseinvestments, don't spend it
foolishly by pulling the moneyout and doing for something
possibly stupid you know, Iwon't pick any names as far as
(24:55):
what you, what I would callinappropriate but or they can
shatter your future dreamsbecause you pull the money out
and just blew it.
So don't base that means don'tbase things on just pure emotion
and pressure from other people,your peer group.
(25:19):
Oh man, come on.
I remember many years ago cameup in family hey, let's all go
to florida to disney, disneyworld and all that.
And I did the numbers.
I at the time I couldn't affordit.
Well, I was pressured, put onyour credit card like everybody
else, like everybody else.
(25:39):
Well, I stuck.
I wish I stuck to my um beliefsin other situations, uh, but
this one I stuck to it, didn'tgo and everybody came back broke
, broke beyond that cost of thatone trip.
It's like take months to a yearto pay that off.
(26:02):
That's, and I knew, you know,two weeks in florida going to
eptot center and Disney Worldbut not having the cash, that
would be suicide and what youpossibly was for certain people.
So that's their walk, that'stheir life.
I'm not going broke overanybody again.
(26:25):
Hey, can you lend me this?
Can you do this, can you?
Oh, no, no, no.
And I'm not saying not to begenerous, but don't be stupid.
How are you going to helpsomeone else while you go under?
That doesn't make sense, sortof like being on an airplane
when they do the drill.
You know the drill, the safetyprocedures.
(26:46):
They say what Put the mask onyourself, the oxygen mask on
yourself, before you helpsomeone else, so you don't fall
unconscious, right?
So help yourself first, thenhelp others, and so be hopeful.
(27:09):
Dark times do come, but justknow this, they're not forever.
Keep the faith, be strong,develop an action plan to get
out of it and lesson learned,lessons and lessons.
Right, and be mindful of whenthings sound too good to be true
(27:33):
.
You know what the cliche says.
It probably is All these peoplepromising stuff on all these
social media.
Yeah, uh-huh.
You know they may sound good,but don't be pulled in by
stupidity or emotion.
So that's it.
I hope you got something out ofthis episode.
(27:55):
Please share this with yourfamily and friends.
I'm on Apple, spotify,iheartradio, amazon Music and
many more platforms.
Please share, please continueto support the channel.
Go to my website,livingyoursuccesscom, also on
Amazon, is my book, uh, theslaying your dragons living the
life you always wanted.
Please, um, encourage you tobuy that book.
(28:19):
Um, I'm going to be slowly butsurely working on a second book.
I have two or three lined up,so, at any rate, and, uh, next
year, I'm doing some speakingengagements as well.
I do two or three or four atleast every year.
So, anyway, it's been apleasure and thank you for
(28:41):
taking the time to listen to meagain and be hopeful.
Life isn't over.
You can get out of whatevermess you're in, whether you
cause it or not.
Don't point the fingers.
Just learn the lesson and moveon and be prosperous, be healthy
, invest your money, save yourmoney, invest in yourself too,
(29:04):
and your health and your owneducation.
So that's it.
This is Living your Success24-7 with Michaelael cain.
Until next time, my friends.
Until next time, adios.
Well, hello there.
This is Living your Success24-7 with Michael Caine.
Hey, how you doing everybody.
Thank you for giving anotheropportunity to impart my
experience, my way of thinking,my life and my purpose of
(00:24):
helping others.
Thank you for that opportunity.
I appreciate each and every oneof you could be doing something
else, so I appreciate you.
So let's jump right on in.
Ooh, this year is almost over.
Man, it's inching, Wow, gettingclose to Thanksgiving.
And then, you know know, oncethanksgiving happens, guess what
(00:45):
happens after black friday andcyber sales and stuff.
Boom, christmas, christmasdecorations, trees, lights
everything is going up alreadyin our house.
We we're already halfway theredecorating for Christmas.
So it's a good time?
Uh, definitely, and it's morethan just the giving
(01:09):
spirituality aside it, it'sabout to fellowship.
There's a way of fellowship,and with family and friends,
those closest to us.
So it's important that, uh,it's important that you know we
participate in these things.
It's again, life's too shortand it's good that we get an
(01:33):
opportunity to be with thosethat are most dear to us.
And for those of you who arechallenged that perhaps you
don't have a lot of family orfriends, I recommend I'll do
podcasts on this.
Uh, probably next year.
Uh, as far as get involved incommunity things, events and and
(01:56):
groups and um to help to betteryour community, wherever that
is community, wherever that is.
So, um, you know to and you canattend uh events that you know
that you're interested in.
And in our show, living yoursuccess, you know we talk about
success beyond the almightydollar, beyond just making money
(02:20):
for money's sake.
It's about having a quality oflife, a life, yes, worth living,
the life you always wanted.
True, money's important to thatend, but it's important that
you don't lose sight of the truemeaning of things, true meaning
(02:47):
of people, places.
Not to get all preachy on you,but yeah, but money is a tool,
it's aptitude and you need moneyto get around, to purchase
things, to have a quality oflife.
That helps you have a qualityof life, because some people
that have millions of dollars,they don't have the quality of
life.
Because some people that havemillions of dollars they don't
have the quality of life,they're not happy, in other
(03:08):
words.
So the goal in my show hereLiving your Success 24-7, is,
yes, we will save our money.
We will encourage you to spendwisely, invest wisely, take
vacations wisely, go out to eatwisely, not spend all your money
up.
So my soul, that's what willhappen.
(03:31):
Uh, you will uh be giveninsights to, in my opinion,
because everyone's different.
We can agree to disagree, butand but we all experience some
degrees of hardships, challengesand obstacles in our path,
(03:52):
wandering God or whoever youbelieve in or not believe in.
What am I going to do to get outof this one?
Okay, just got out of anotherone.
I'm in another pot of boilingwater, so how do I get out of
this?
I've been there, done that.
I'm in a you know another potof boiling water, so how do I
get out of this?
I've been there, done that,been in several.
The key is to learn and to actupon that learning.
(04:14):
Some folks, perhaps you can see, never learn, or they just
they're not believers in beingprudent.
You know, I being polite here,some people just stay in that
hot boiling water.
They stay there and then theydie there.
So we don't want that to happento you.
(04:38):
And so I also wanna talk aboutand we'll jump back directly on
investing in money on this showin a moment, but I want to.
You said it three timesyourself.
I was thinking about how can weavoid regret, and this is sort
(05:03):
of related to the topic of money.
I don't know about you, but Iknow I have regrets on blowing
money and not investing it theway I should.
So what can we do?
It's called prioritizing ourlife based on to the plan we
(05:26):
have for our lives.
Meaning well, you say, well, Idon't have a plan for my life.
Well, that's a problem, youknow it.
You can't speak for everysecond.
You're gonna live on this earth.
But you should have a uh, somekind of plan that says, well,
this is what I want my career tobe, or job, and that's a whole
(05:49):
episode there between what a jobis and career.
Job is something you just dofor money.
You need money, survival mode,or you just like it, but it's
not your passion and not yourheart.
It's not what you want to dowith the rest of your life.
A career is something that isdeep and so that's part of your
life plan, plan that says, well,I want to live in this state or
(06:13):
this country, this region ofthe world.
This is my plan.
I want to have kids, four kids,two kids, five kids, one kid,
no kid.
Plan for your life.
This is what I want to believein spiritually, and these things
can change, by the way,absolutely, and you're not stuck
just because you plan and putthis on ink, to paper or video.
(06:38):
And so what do I want my lifeto be?
I want to be able to wake up inthe morning with a breeze of
the ocean, so I want to livenear the ocean, within a mile or
two or whatever those kind ofthings.
I want to get married one dayor stay single, or you know,
(06:59):
plan for your life who yourcircle is your life, who your
circle is what, what committeesyou want to be on could be
business association,professional groups or hobby
groups.
You can see that on facebookthat all these groups I belong
to several and it's like you'reconnected with like-minded
(07:23):
individuals.
It could just be for fun, itdoesn't always have to be for
the almighty dollar, but so andyou come and go.
I belong to some that I nolonger participate with, but I
want to make that part of myplan to, every few months, go to
some kind of meeting or event.
It could be a rah-rah meeting,you know, to pump you up, to
(07:46):
keep you going, to motivate you.
Everybody needs some kind ofself-help or or some kicking the
pants to get moving on aproject or a business idea or
entrepreneurship, or just, uh,one of those things you have to
do around the house to get thelike.
Us get the fence fixed, whichwe're working on, very expensive
(08:08):
, by the way, wow Anyway, butthey last 20 years, 30.
So planning ensures you don'tjust live by accident.
Now will there be things thathappen to you that are unplanned
, of course, good things and badthings, but you do wanna
(08:32):
anticipate and be forewarned onmany things.
And so let's go back to money,money, money.
What is that?
The OJ's money?
I like this song.
There's a couple of money, thatmoney money.
What is that?
The OJ's money?
I like that song.
There's a couple money, thatmoney song.
And so let's say you choose yourcareer, your job, whatever you
(08:57):
want to call it, and you workthat.
You work hard, don't you?
What a silly question.
Work hard for your money.
Was that Donna Summer?
Work hard for your money?
So hard for you?
Okay, you get it.
So hard for you, okay, you getit.
(09:24):
So I brutalized that song,didn't I?
You want to use that money.
I'm leading the witness, by theway.
You work hard for your money.
So hard for you, man, and whygive it up, something that took
you hours, days, weeks, months,years, decades to build?
Why do you want to wipe it outin 15 seconds an hour, two hours
(09:51):
a day a week, without anyplanning?
You know not that you shouldn'tearmark money for fun?
Yeah, we just came off ourthird vacation this year and we
budgeted for it, knew how muchwe're going to spend and how
(10:13):
much we're going to save, firstof all for it, and it's
important that you respect themoney that you worked so hard
for to go to live the life youwant to live.
And I doubt many people wake upin the morning to say you're
(10:34):
right, michael, I just want tospend all my money and go broke
and go bankrupt.
I'm sure most people don't saythat, but many people do it.
They put $60,000 on a vacationand don't have the resources to
pay their credit card off in thenext five years, ten years, one
(10:54):
year.
The next five years, 10 years,one year.
Now I don't want to spend thewhole segment of my show saying,
well, that was stupid, teachhis own.
It wasn't wise.
If you don't have money, you'realready struggling.
That would not be wise.
I'll use nice language.
That will not be wise Thinkabout it is if you do it again
(11:15):
right after that.
Let's say it takes you eightyears to pay that off.
Then you do it again.
Then, yeah, maybe it is anothercategory of not smart and
adding to the more number ofyears you'll have to work to pay
it off and make it up.
You know, do you really want tohave to work in something you
(11:37):
may not even like?
That's a whole nother podcasttoo.
Do you even like what you do?
Because if you do, or you ownwhat you do, let's say you own a
business.
That is a little different,folks.
So let's say you hate your job,why put yourself in a position
to have to work there longerthan you should have to?
Why put yourself in a positionto have to work there longer
than you should have to?
So balance your life should bebalanced.
(11:58):
We're looking at a balance.
See, we have two extremesPeople that play.
That's all they do is play.
Don't have anything to show forlife, don't have nothing to
show for it.
Then you have the other extreme.
People don't do nothing, goanywhere, hoard everything,
hoard their wealth, money andtime, energy, and then they die,
never fulfilled.
Maybe in the back of their mind.
(12:20):
They wanted to go to Germanyand Italy, france or Switzerland
or name your country of choice.
But they say, ah, that's toomuch, I don't spend that kind of
money.
But you do that every year,every year.
Now you're so old, you can't,and you die.
That's sad.
Both of them are sad, hoarding,essentially, and foolish,
(12:46):
playing around all the time butnot taking life a little bit
more serious.
So those two are strings youwant to avoid, you know.
So I encourage you to focus onyour income, because that's the
(13:07):
source, is earning it.
We can't even begin to talkabout saving, and let alone
investing, without talking aboutearning.
What are you going to do tomake it, make your money?
Now?
Some people say, well, there'stwo pathways.
There's going straight out ofhigh school, going straight to
(13:27):
college, and then the others gostraight out of high school to
vocational school, where theylearn a trade or skill and they
can start earning money fasterthan a college graduate after
three, four, five, six, sevenyears going to school.
Maybe they went for theirmaster's too.
And they're not all just broke,they're broken broker.
(13:49):
Broker brokers broke, broke tobroker to, and so what?
The person that maybe learn howto be a plumber or some kind of
software tech or something he'smaking money now.
He or she they want, after sixmonth or one year program, the
(14:11):
certificate or program like that.
So certificate or program likethat, so?
Um, it comes down to againwhat's your plan?
You got to take time to soulsearch, do your research, talk
to other people in yourpotential field, see how, get
(14:35):
you know, visit colleges to 10seminars and workshops and
educate yourself on on.
That'll help you make you cometo a decision what you want to
do with your life.
You don't want to be searchingand wondering for until you're
40, 50 years old, half of yourlife is gone.
(15:00):
It's important that you takethis serious enough to take the
necessary action you need to doin order to, uh, get on the path
of what they say used to thegood and plenty.
Get on the path of what theysay used to be the good and
plenty, a road that's full ofgold and diamonds and pearls and
(15:22):
platinum right, okay, silver.
You want to get on that road toprosperity is what they call it
, it's what I call it, and um,so it's important that you
dedicate the time, energy foryour life, as you do with trying
(15:47):
to buy a car or choosing anappliance like a refrigerator,
or going to see a movie.
You need to take it moreserious than those things and so
have hope that you canparticipate in prosperity.
(16:11):
Now we historically call thatin America the American dream.
But I don't know about theAmerican dream and that's fine.
I don't know if I care for theexpression anymore because it's
mutated and changed the Americandream, what does that mean?
And you have to be for sure.
(16:33):
There are obstacles in yourpathway and when you plan,
you'll identify those blockages,hindrances, obstacles to your
promised land.
Not everybody's promised landis the same.
Mine is different from yours.
(16:55):
I have a different mountainclimb than yours, or maybe we're
on the same mountain, but wehave different reasons to be on
that mountain and differentexpected conclusions to be on
that mountain and differentexpected conclusions to be on
that mountain.
So, and my definition ofsuccess and prosperity and
health may be different fromyours.
Okay, everyone's different.
(17:15):
So two people are alike.
Even if you're twins andtriplets and quadruplets, you
still you're different.
They have things that aresimilar, but talk to people,
listen to people, observe people.
But you ultimately have todecide how you want the makeup
of your life.
(17:35):
And so, and I wish in juniorkindergarten they started
teaching about life, real lifeand money making money, saving
money, investing money.
So by the time you graduate highschool, we're all experts, if
(17:56):
we choose to be.
There will always be peoplethat don't want to listen to
nobody, don't want to learn orwhatever.
They'll always be people likethat, always, and so they won't,
don't want to participate.
That's fine.
We are most.
Most of us are in freecountries.
So hope, yeah, most of us are.
(18:20):
But money is a tool and so don'tworship it.
It doesn't need to be worshiped, but it's desired because it's
a part of our means of exchange.
We don't exchange rocks anymoreand we do.
There is bartering.
For sure, I participate inbartering, but for the most part
(18:44):
, whatever currency, whatevercountry you live in, that's the
currency.
Uh, you need to earn and saveand and move the conversation
further, what do you mean bysaving?
I would say, for every dollaryou earn, do your best to save
(19:05):
five to 10% of that.
So, off a dollar, what is that?
Five cents, 50 cents or adollar, right?
Or a nickel or a dollar?
And wow, let me get my mathright.
(19:26):
So, yeah, and so if it was,obviously it's exponential.
You earn $100, 10% of that iswhat?
$10, right?
Or 5%, $5.
So, ooh, now Michael's math isgetting straight again.
Moment, a lapse of uh, mathmedical ability for a moment,
(19:49):
whoa.
So anyway, that was simple, butanyway, gotta laugh at yourself
, say, oh my god, what did I say?
Okay, come back to earth, comeback to earth, come back to
earth.
So, at any rate, you want tosave as much as possible.
If you, for every dollar, cansave 20 cents or 30 cents, god
(20:12):
bless you.
Not, all of us can do that,right, and I would encourage you
to do as much as humanlypossible, but, no, not below.
Whatever that magical minimumis is good for you.
And then you want to save foremergencies.
(20:35):
You've heard this stuff before,this part.
Yeah, what's emergency?
Anything can happen.
You want to have that wholecold, hard cash right there in
this, with immediate access.
And then, um, after that, youwant to start thinking about
saving.
What I do is I read this bookand it's called I think money is
(20:57):
my friend, I believe that'swhat it's called many years ago.
And then gosh decades and youdedicate these accounts toward
your goals, like you had amillionaire's account, a
financial freedom account andvacation fund account and I wish
(21:22):
they taught that so very.
You give your dollar, you earna name and that's all.
Its purpose is to getting thatmillionaire accountification
fund, house repair, phone, carrepair fund and that's all it's
meant and you know and youdedicated to it.
To me that's the easy way ofdoing it.
(21:43):
There's some accounts that'lllet you subdivide your account.
You have a main savings account.
Then you could break it up intoseven, eight different
categories, like sub accounts.
So not all of them will do that, but, um, we used to do that
back in the old days theenvelope method, where you have
a white envelope.
(22:04):
You write down what goes wherethat money goes in that envelope
.
So it could be house, home, car, vacation or fun envelopes, any
dollars that go in that.
That's meant for fun activitieslike amusement parks, movies,
stuff like that.
(22:24):
You get it dining out and youknow where your money's going
and notice balance of fun andenjoy stuff.
With the business of hard workand saving, investing for the
future, you're, you're savingyour investing, saving all these
(22:48):
things, sacrificing some partof your present for a wonderful,
fantastic future.
Again, it's up to you.
The numbers and percentages dowhat's comfortable, but make it
meaningful, you know, and alsowatch your spending again.
(23:11):
Don't knock out things that youlove.
Now another conversation is youknow health, but we'll get to
that in a moment.
But it's important.
But we'll get to that in amoment, but it's important that
you earmark these things and youstick to it with the greatest
of discipline.
(23:40):
Now, with health, without yourhealth, all this is over.
It's not.
The game is over.
Life is over if your healthisn't right.
So, eat as healthy as you canbe, exercise, and each one is
different to whatever that means.
So I started doing that more.
Uh, I feel better.
I actually feel better.
You just have to dedicate sometime and energy.
Grab some money some cases likea gym and, uh, some cases like
(24:11):
a gym and uh, don't stick to itand be committed.
Don't overthink it, don't everoh, I gotta go, just do it, have
fun.
And so, and after you startsaving adequately enough, you
start thinking about, okay,participating maybe if your job
has a 401k or you don't have oneat work a Roth IRA or
traditional IRA.
(24:32):
These are retirement vehicles.
You can save money, you caninvest and it grows over time.
Money you can invest and itgrows over time, and the goal is
, once you build up theseinvestments, don't spend it
foolishly by pulling the moneyout and doing for something
possibly stupid you know, Iwon't pick any names as far as
(24:55):
what you, what I would callinappropriate but or they can
shatter your future dreamsbecause you pull the money out
and just blew it.
So don't base that means don'tbase things on just pure emotion
and pressure from other people,your peer group.
(25:19):
Oh man, come on.
I remember many years ago cameup in family hey, let's all go
to florida to disney, disneyworld and all that.
And I did the numbers.
I at the time I couldn't affordit.
Well, I was pressured, put onyour credit card like everybody
else, like everybody else.
(25:39):
Well, I stuck.
I wish I stuck to my um beliefsin other situations, uh, but
this one I stuck to it, didn'tgo and everybody came back broke
, broke beyond that cost of thatone trip.
It's like take months to a yearto pay that off.
(26:02):
That's, and I knew, you know,two weeks in florida going to
eptot center and Disney Worldbut not having the cash, that
would be suicide and what youpossibly was for certain people.
So that's their walk, that'stheir life.
I'm not going broke overanybody again.
(26:25):
Hey, can you lend me this?
Can you do this, can you?
Oh, no, no, no.
And I'm not saying not to begenerous, but don't be stupid.
How are you going to helpsomeone else while you go under?
That doesn't make sense, sortof like being on an airplane
when they do the drill.
You know the drill, the safetyprocedures.
(26:46):
They say what Put the mask onyourself, the oxygen mask on
yourself, before you helpsomeone else, so you don't fall
unconscious, right?
So help yourself first, thenhelp others, and so be hopeful.
(27:09):
Dark times do come, but justknow this, they're not forever.
Keep the faith, be strong,develop an action plan to get
out of it and lesson learned,lessons and lessons.
Right, and be mindful of whenthings sound too good to be true
(27:33):
.
You know what the cliche says.
It probably is All these peoplepromising stuff on all these
social media.
Yeah, uh-huh.
You know they may sound good,but don't be pulled in by
stupidity or emotion.
So that's it.
I hope you got something out ofthis episode.
(27:55):
Please share this with yourfamily and friends.
I'm on Apple, spotify,iheartradio, amazon Music and
many more platforms.
Please share, please continueto support the channel.
Go to my website,livingyoursuccesscom, also on
Amazon, is my book, uh, theslaying your dragons living the
life you always wanted.
Please, um, encourage you tobuy that book.
(28:19):
Um, I'm going to be slowly butsurely working on a second book.
I have two or three lined up,so, at any rate, and, uh, next
year, I'm doing some speakingengagements as well.
I do two or three or four atleast every year.
So, anyway, it's been apleasure and thank you for
(28:41):
taking the time to listen to meagain and be hopeful.
Life isn't over.
You can get out of whatevermess you're in, whether you
cause it or not.
Don't point the fingers.
Just learn the lesson and moveon and be prosperous, be healthy
, invest your money, save yourmoney, invest in yourself too,
(29:04):
and your health and your owneducation.
So that's it.
This is Living your Success24-7 with Michaelael cain.
Until next time, my friends.
Until next time, adios.
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