Episode Transcript
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Speaker 1 (00:00):
You know, regardless
of our income levels or stages
of life or business, I thinkevery one of us makes several
types of investments, don't we?
There are several swim lanes ofinvestments that we make every
day, both consciously andunconsciously.
Some have good value to us andmake a positive impact, some not
so much much.
But there's only one investmentwe make that produces
(00:23):
undeniable, consistent maximumreturns for us, but you won't
find it on Wall Street or in anyof the indexes.
Speaker 2 (00:39):
Welcome to the
MindWrench Podcast with your
host, rick Sellover, where minoradjustments produce major
improvements in mindset,personal growth and success.
This is the place to be everyMonday, where we make small
improvements and take positiveactions in our business and
personal lives that will make amajor impact in our success,
(00:59):
next-level growth and quality oflife.
Speaker 1 (01:02):
Hey what's up
everybody?
Welcome to the MindWrenchPodcast.
I'm your host, rick Saloja.
Thanks so much for stopping in.
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(01:29):
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I hope you find something ofvalue here that helps you in
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Please make sure to click thesubscribe or follow button so
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(01:50):
You know, regardless of ourincome levels or stages of life
or business, I think every oneof us makes several types of
investments, don't we?
I know, I know when I mentionthe word investments, many just
kind of instantly stress out,right, those thoughts come
streaming in of oh crap, my 401kis nowhere near where it should
be by now, or I know I shouldbe putting more away every
(02:12):
paycheck, but I'm just barelycovering my bills.
Or maybe you are being fairlyconsistent with your savings
disciplines but wish you hadmore education on how to invest
like the pros, right?
Well, relax.
Good news is, although I willtouch on that subject a little
bit today, that's really notwhat this message is about.
No, there are several, let'ssay, swim lanes of investments
(02:36):
that we make every day, bothconsciously and unconsciously.
Some have good value to us andmake a positive impact, some not
so much, and some have massiveimpact on our lives and those
around us, but sometimes onlyfor the short term.
But there's only one investmentwe make that produces
undeniable, consistent maximumreturns for us.
(03:04):
But you won't find it on WallStreet or in any of the indexes.
I think most of us make manyinvestments in our jobs or
careers.
We may invest in new tools orequipment for our chosen trade,
or maybe we invest in sometraining to increase our
understanding of how to do whatwe do better right.
Or maybe we just invest in asmuch overtime as possible, and
that's really just trading ouravailable downtime for pay.
(03:26):
But sometimes that investmentonly gives us short-term returns
.
Although you may have excellentskills or talents, maybe your
place of employment goes out ofbusiness, sells to someone that
doesn't need or value, yourposition becomes irrelevant or,
worse yet, what you do becomesobsolete.
In today's speed of advancedtechnology, ai and robotics,
(03:50):
many hands-on jobs are beingreplaced with technology right.
For example, before I met mywife, when she was younger, she
worked on a line at MichiganBell assembling telephones.
You know the kind with anactual dial and cords on it.
Although she was an excellentemployee, made great money at
the time and could assemble aphone with her eyes closed.
Eventually, that plant, andmany others just like it, closed
(04:12):
down.
In fact, many that worked onassembly lines in the automotive
sector invested a large portionof their productive years in
those jobs, only to be left inthe dust and replaced by
automation.
Now, it's been said many timesbefore by many educators and
thought leaders and I believe wecan all reasonably agree this
(04:32):
is true that time is everyperson's single most valuable
resource.
What each of us do with ouravailable 24 hours, or more
precisely, 86,400 seconds everysingle day where we decide to
invest it, dictates the paths wetake, the success or failures
we experience and the impact wedo or don't make on the world
(04:54):
around us own health, which is agreat thing, right.
Starting a rock solid,consistent workout routine maybe
made a drastic change in ourdiet and eating habits in hopes
of living a longer, healthierlife.
Right, we've investedsubstantial amounts of time and
money into gym memberships,exercise gear, maybe bought some
(05:16):
equipment for a home gym.
We're now buying our groceriesfrom a more expensive health
food store or ordering thosepre-made food plans that you get
shipped right to your door.
Hey, I'm right there with you onthis, but I've seen some of the
healthiest friends I haveexperience a heart attack,
stroke, life-altering caraccidents or, worse yet, cancer.
In fact, I was just havingbreakfast with a good friend and
(05:39):
former employee of mine.
This guy had dropped a bunch ofweight about four years ago,
cut out all the junk food fromhis diet, started getting really
consistent about working outand start running daily and he
ended up being really fit.
And he tells me over breakfastthe other day that he needs to
have open heart surgery toreplace a failing valve.
I'm like, really, are youfreaking, kidding me?
(06:01):
You know, even if we were toavoid all those tragic life
events, just blowing out a kneeor your back or a rotator cuff
can diminish those hard-earnedreturns right.
Surely, investing in our ownrelationships with our spouse
and children seems like the mostnatural of investments, which
they are, and everyone should beinvesting in those.
If you have family, as I've metway too many industry workers
(06:24):
that haven't being a good, solidpartner, a good, solid,
dependable parent, can be one oflife's most rewarding
investments that you may evermake, but they don't always
carry a good ROI, do they.
If you're looking for acompetitive edge for your
business or a more effectivejumpstart to your personal
development, I'll make yourfirst step super simple.
(06:45):
It is a fact that an incrediblenumber of the most successful
business owners, nearly half ofthe Fortune 500 companies,
top-earning professionalathletes, entertainers and
industry leaders likeMicrosoft's Bill Gates, former
President Bill Clinton, oprahWinfrey, richard Branson,
amazon's Jeff Bezos andSalesforce's Mark Benioff all
have one thing in common theyall have at least one coach and
(07:08):
some have several that they workwith on a consistent basis,
someone that helps guide, mentorand support them, challenge
them, help them set and achievegoals that move them forward and
then hold them accountable tofollow through, driving personal
and professional growth.
Working with a coach has manysubstantial benefits.
Just for an example, 80% ofcoaching clients report improved
(07:29):
self-esteem or self-confidencethanks to coaching.
99% of individuals andcompanies that hire a coach
report being very satisfied and96% would do it again.
If, deep down, you know it'stime to make those improvements
in your business, your personallife, that you've kicked down
the road year after year.
If you're tired of knowingthere's a better version of you
(07:49):
waiting to shine, but unsure ofhow to bring that version to
light.
If you're tired of wanting toenjoy a more successful business
but not sure how to start.
And if you don't want to goanother 12 months without better
results but you don't want togo it alone, then take the first
step.
It's super simple.
Sometimes talking to the rightperson can make all the
difference.
Go to wwwrixelovercom contactand I'll set you up with a free
(08:13):
consultation.
Call with me to see ifone-on-one coaching is right for
you.
50% of marriages end in divorceand although you may pour all
your love, your best practices,your knowledge and your mistakes
to avoid at all costs into yourchildren when they're young,
sometimes as they get a littleolder they get with the wrong
group of friends, or one bad eggyour kid is hanging around
(08:36):
during high school or even earlycollege years could have that
wonderful child take a hard leftonto a wrong path that may
cause grief for years or decadesor even a lifetime.
Right Now, when it comes tofinancial investments, hopefully
all of you have some sort ofdiscipline towards consistent
savings.
Whether it's an auto, deductfrom payroll for your company's
(08:57):
401k or into a savings or moneymarket account, or even burying
mason jars full of cash in yourbackyard, I don't care.
No matter how much you do make.
You can dedicate a consistentpercentage, regardless of how
small, into saving for yourfuture.
Now you may have some stocks orsome bonds or some other
financial vehicles you invest in, but unless you have some
(09:18):
financial education or anadvisor, there's no certainty in
your returns, is there?
I mean, how's that cryptoinvestment?
You made a few years, but withall the various investments we
do make on a daily basis in someor all of these categories,
there is only one investmentthat will pay us dividends for
the rest of our lives.
Investing in your own personaldevelopment is, hands down, the
(09:41):
number one investment we'll evermake, bar none.
Spending some of our available24 hours per day working on
making minor improvements in allareas of our lives per day.
Working on making minorimprovements in all areas of our
lives financial, health,relationships, business or
careers, as well as learning howto be a better person, gaining
confidence in abilities wedidn't even know we were capable
of, and learning how toleverage our strengths, our
(10:02):
natural talents, and stopfocusing on the weaknesses, can
produce massive returns in everyone of those categories.
It doesn't take muchfinancially to start down the
path of self-improvement.
Thanks to the internet, mosteducation, most online courses,
youtube videos and resources arefree and instantly available.
It just takes the investment ofyour time Now, while many books
(10:26):
on personal development are lowcost on Amazon.
There is no cost or zero from alocal library.
I personally bought many booksfor under 10 bucks at stores
like Barnes and Noble or evenWalmart.
In fact, the first book I everread that started me down the
path of reading as a form ofpersonal development was the
Millionaire Mind by ThomasStanley.
(10:46):
I got it for like $7.99, foundit on the clearance table at
Barnes Noble.
Now, I was never much of areader before that book.
You couldn't pay me to pick upa book through most of my young
adult life, but since then I'vebuilt a pretty good library.
Now, if you're somebody thatabsolutely doesn't like to read
good news, most everything isavailable now in formats like
(11:09):
Audible or YouTube, so all youneed to do is press, play and
listen or even watch.
Now there's so many freeresources out there on every
single subject imaginable, aswell as self-paced online
courses you can take and a worldfull of coaches and mentors
available at the click of amouse.
It's really unbelievable thewealth of knowledge that's at
(11:32):
your fingertips every day Now.
While you don't need a coach towork on your own
self-development, having one candefinitely expedite your
journey, help you focus on whatmay benefit you the most in
different areas and hold youaccountable when needed.
I started my journey withvirtual mentors and coaches Guys
like Tony Robbins, deanGraziosi, ed Milet, dr Alan
(11:52):
Zimmerman and Rob Dial, just toname a few.
Personally, I've been workingon building a better version of
myself every day for over 15years.
It's something you makeinvestments in daily and it
never really has an end point.
It just becomes a way of life.
Even the most developed leadersin this realm wizards like Tony
Robbins and Brian Tracy andBrendan Bouchard continue to
(12:14):
work on themselves daily.
Warren Buffett, one of therichest people on the planet,
right, still invests five to sixhours a day reading and, trust
me, he's not reading murdermystery novels to continue to
grow his personal development.
Honestly, if it weren't for mereading that first book,
attending my first keynotespeaker presentation from Dr
(12:35):
Alan Zimmerman many years agoand starting down that path,
this podcast, the Mind Rich,wouldn't exist, nor would my
monthly collision cocktail hourthat I co-host with a few other
industry professionals.
I wouldn't be helping shopowners grow their businesses
through my coaching program inthe evenings or presenting
helpful workshops at industryevents.
I certainly wouldn't be helpingshop owners grow their
businesses through my coachingprogram in the evenings or
presenting helpful workshops atindustry events.
I certainly wouldn't understandthe sense of fulfillment one
(12:58):
gets from helping others.
I would have never learned thehealth and vitality returns
gained from starting each daywith a solid, healthy,
repeatable morning routine overthe last five years.
I would definitely not beanywhere near the person I am
today, and I can honestly sayI'm so glad I chose to invest in
myself when I did over the lastfive years.
I would definitely not beanywhere near the person I am
today and I can honestly say I'mso glad I chose to invest in
(13:19):
myself when I did.
Now I want to take thisopportunity to clarify something
.
Although all those othercurrent investments you may be
making in your career, yourbusiness, your relationships, as
well as whatever financialinvestments you've deposited
those are all good, I wouldencourage you to keep making
those daily deposits.
I am not discounting them here,only showing that the potential
ROI isn't always there.
Some have excellent returns insome or even all of these areas,
(13:42):
but if you want to guaranteemaximum returns, then investing
in your own personal developmentis really the number one way to
invest some of that highlyvaluable 86,400 seconds you're
given every single day.
Your biggest decision may bejust where to start, but no
worries, there is no set orderto take.
You just start with what makesthe most sense to you.
(14:04):
And here's a little pro tipStart with learning about
mindset, what it is, whatmindset you currently have and
how adopting a growth mindsetover a fixed or negative mindset
can help you on your journeyand make some of those decisions
a little bit easier to make.
I have several MindWrenchpodcast episodes that I've done
that can help you with this.
Try episodes like number threeor number 24, or definitely
(14:28):
number 114.
Change your mindset, changeyour life.
I'll leave links to these inthe show notes.
The important part is to juststart.
Start making the investmentthat will constantly reap
results in every area of yourlife you focus on for a lifetime
.
Well, that's all I had for youtoday.
Thanks again for tuning in.
I really appreciate yoursupport, and I hope you have a
(14:51):
great week.
I can always be reached atwwwrickselovercom, where you can
find all my social media linkspodcast episodes, blog posts and
much more.