June 28, 2024 • 29 mins
Unlock the secrets to financial success and personal fulfillment with insights from Rick Salmeron, founder of Salmeron Financial. In this episode of the Seven Figure Builder Show, we reveal how smart financial decisions and expert advice can illuminate blind spots you never knew existed. Rick introduces his innovative "peace of mind square," which interlinks health, relationships, contribution, and money, emphasizing how financial well-being supports every aspect of life. Discover why behavior trumps investment choices for achieving lasting financial success and how your past actions shape your current financial results.
But it doesn’t stop there. We delve into the transformative power of self-esteem on both personal and professional levels. Imagine a self-esteem thermometer that could measure your joy and prosperity – Rick explains how daily habits significantly impact your overall self-worth and success. We also discuss the importance of momentum and building a supportive dream team, underscoring how inner wisdom and a solid support system can drive you towards your goals. This episode is brimming with actionable advice and inspirational stories that you won't want to miss. Tune in, and don't forget to share these invaluable lessons with anyone who could benefit.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome back.
This is Julie Baranek, host ofthe 7 Figure Builder Show, and
I'm here today with my friendRick Salmiron.
Hey, Rick.
Speaker 2 (00:06):
Hey, julie, hi.
Speaker 1 (00:09):
Hi and you are the founder of Salmiron Financial
and you help your clients growtheir wealth so that they can
grow their life.
Can you tell us a little bitabout what it is that you do and
what that actually looks like?
Speaker 2 (00:22):
Sure, yeah, I'm an independent financial advisor
here in Dallas, texas.
I've been in the officially inthe business for a very long
time Gosh 1990, when I thinkabout that and I founded my
company in 2001, I love thatword, so that's going to be one
of my takeaways today is founderof my company.
So, in essence, I helpindividuals make smart decisions
(00:45):
with their money.
They do well, their income isstrong, they're busy, the plate
is already full, yet theyunderstand how important, of
course, this aspect of theirlife is.
I'm making good money, I've gotsome savings or I need to build
up my savings and build mywealth, and what are the best
ways for me to do that?
(01:06):
What am I doing right, what amI doing wrong?
And at many times as you can I'msure appreciate, julie as well
as everyone else on this episodea person from the outside, in
looking in, can really shinelights in areas that you cannot
see, because we all have blindspots right.
That goes for our health, thatgoes for many aspects in life
and, of course, it also goeswith one's money too.
(01:29):
I like to create the imagery ofhere's the successful person,
the family person, the businessowner, whoever that is.
They are within their let'scall it a black box that
represents their money, theirincome.
Let's call it a black box thatrepresents their money, their
income and their wealth.
They're able to see certainareas of the black box, but it's
(01:53):
not possible for them to seeeverything, and I love I love to
shine what I call white bulbsflashlights inside those areas
to make them go wow, aha, Iwasn't aware of that.
Or I see what I'm doing right,or I see what I'm doing wrong
here, so that their money isheaded in their direction their
future, not somebody else'sfuture.
That's so important.
Speaker 1 (02:12):
A hundred percent and I love that having I mean
that's the key with having anexpert in your life right To be
able to show you and bringvisibility into the areas that
you're not seeing.
Speaker 2 (02:22):
You also, of course, you want to make sure that that
expert's got your best interestsin mind.
Yeah, that goes without saying,but that's very important to
use your intuition and make surethat that part is valid too.
I really do believe that all ofus walking around this really
comes down to the why of why Ido what I do, julie, that we all
(02:45):
have what I call a peace ofmind square in life.
I like to draw, imagine asquare.
It's got four sides, like anyother square does, and everyone
has one of these, and on eachside represents a very powerful
aspect of their life.
One side would be health,physical as well as mental,
(03:08):
right.
The other side would berelationships, personal as well
as profession.
Okay, the third side would becontribution, or how I show up
in the world, how I'm givingback and how the world sees me.
And then the fourth is moneyand finances.
(03:29):
And when you take a look atthose four sides of the square
and if you're able to rankyourself on a scale of one to 10
on those four sides, how do yourank?
How do you rank?
And when a person is rankingthemselves a 10 out of 10 on all
those four sides, then theyhave true peace of mind, in my
(03:52):
view, and if you're at thatstage and more power to you,
then what's the next 10?
What's the next level?
10?
So it's my circling back to whyI love what I do.
It's my bias belief perhapsthat the money side of anyone's
piece of mind square is the mostimportant, because it can
(04:13):
support tremendous health.
It can help support wonderful,thriving relationships.
It can help support yourcontribution or how giving back
to the community and how youshow up.
Of course, it also can supporta fantastic entrepreneurial
business too.
That also is very key.
(04:34):
But as a financial advisor, itmotivates me and inspires me to
help other business owners withthat side of their life so that
they're making the bestdecisions as they can with what
they have.
Speaker 1 (04:49):
Yeah, yeah.
And to your point I mean, thatside in particular definitely
hits on the other sides and hasa massive impact.
You know positive or negative.
So what?
What would you say are thebiggest gaps that your clients
make, right, or you know thatthey don't realize that they
have in their life?
Speaker 2 (05:08):
When it comes to their money.
I believe that the biggest gapthat they have is their behavior
.
When people accumulate wealthor they're pursuing, say, a
retirement goal, or saving fortheir kids, or whatever the case
may be, or saving for theirkids or whatever the case may be
(05:29):
, it's very easy to believe thatthe key to accomplishing or
pursuing or achieving thosegoals lies in the investment
selection that I have.
Oh, I need to find the best,this or that or whatever the
case is, and that's inaccurate.
It's not true.
It's not to be ignored.
It's a very important part ofone's overall financial plan.
(05:49):
However, the key, the driver,is behavior the actions that a
person takes and the actionsthat they don't take.
Those add up to, those will addup to and translate into
whatever financial results thata person has in their life.
So, if you take a look at yourpersonal balance sheet for those
(06:12):
listening take a look at yourbalance sheet, take a look at
your, say, your company revenueor its net income or whatever
the case might be income orwhatever the case might be and
that number, whatever thatnumber looks like, that's a
result of the behaviors thatyou've done in the past week,
the past year, the past fiveyears.
(06:33):
It's a sum of a lot ofbehaviors.
I like to call these actionsgrains of sand.
All right, it's very subtle.
It's the boring stuff that we,as entrepreneurs, we recognize
the really, in my view, the goldis found in the boring stuff.
It's not found in the exterior.
(06:55):
Oh my gosh, I just landed thisamazing huge client that I never
thought that I could land, orwhatever the case may be.
Can those moments happen?
Yes, are they rare?
Absolutely.
Can they not happen, you bet?
So the results in our life areall a sum of those tiny little
(07:16):
actions, those tiny littlegrains of sand, and what we see
we're either very happy with orwe're not happy with it, or we
want to improve or do better.
So how does that mound of sandlook like to you?
Is it a dull, boring mound, oris it a beautiful sandcastle on
(07:36):
the beach?
So I found the one area thatpeople don't recognize that is
more important than really ever,and that is the behavior and
the actions that we take orthose that we avoid.
Speaker 1 (07:50):
Absolutely, and those are the things we can control
the most.
Yes, that's the good news.
Speaker 2 (07:55):
That is the good news .
We can't control inflation, wecan't control what's going to
happen in various parts of thecountry, and we can't control.
There's so many things that wecannot control, and the
fantastic news is we can controleach and every one of those
actions.
You hit it right on thebullseye.
Speaker 1 (08:13):
Yeah, and what are some very practical things that
people can do, you know, forthose tiny steps or things that
people can do to move the needlein the world?
Speaker 2 (08:24):
Well, many.
When it comes to people's money, many people conclude, wow, I
don't have.
I don't have enough income or Idon't have enough to save, or
I'm not able to save any morethan I can than what I currently
am doing.
And I would submit that there'sa very good chance that you
could find ways to to make someadditional, create some
(08:45):
additional dollars out of quote,unquote, thin air.
And what I'm talking about iswhat I call a financial Jenga
game.
In other words, take a look atall.
Go through the exercise of thismonth and next month.
I want you to list all of yourexpenses.
Perhaps you already trackedthis already.
(09:06):
That's wonderful.
If not, this can be a start.
But I want you to track all ofyour expenses, whatever they are
, with no right or wrong, nogood or bad.
Just identify what is going out, of course, identify what is
going in as well.
But when you identify what isgoing on, do that for the month
(09:27):
of June, do that for the monthof July.
You've got two months to seeand now categorize each one of
your expenses.
Now play the financial Jengagame.
You've got the stack ofexpenses.
Let's see what pieces out ofthat monthly expense list we can
(09:47):
take out and redirect,categorize, prioritize.
Are these really important?
Some are, but I will bet thatwe could find some additional
disposable income somehow goingthrough that exercise that could
be redirected into somethingelse Reinvesting your business,
perhaps saving for retirement,perhaps saving for that next
(10:11):
home, saving for whatever thecase may be.
Whatever that importantfinancial goal is requiring that
fuel of healthy money right Tomake that happen.
We can find, as if we're miningfor gold, for example, we can
find potential new money thatwas spent in one way that could
be better served in another.
(10:31):
That would be one example of anexercise.
Speaker 1 (10:35):
Yeah, no, I love that and personally I love doing
that.
I mean, I wouldn't say I lovedoing that.
Speaker 2 (10:41):
I like to do it every couple of months because for me
personally.
Speaker 1 (10:44):
I have like subscriptions or things that I
try or trials and like all thoselittle pieces add up and then
going back.
I don't really need thisanymore.
Speaker 2 (10:54):
I love what you just said.
I don't really enjoy doing it,and that's that is a that's a
key here.
That's a key that that thesetypes of habits the, say, the
listing of the tracking of theexpenses many times when we
become better business owners,when we become better
responsible people, when webecome a better person whatever
(11:16):
that might be that involvesthose habits that don't feel
great.
Don't feel great.
If I want to feel good, I'll goeat a hot fudge sundae and
watch some Netflix, right.
If, on the other hand, I wantsomething that I know will
better myself, that will improvemyself, then that involves
(11:40):
something that's not going tofeel really good, and people
should take pause and notice.
If it's not feeling good, thatshould, ironically, make them
feel good, because that meansperhaps they're on the right
track to something better on theend, because everything that we
want in life we all know thiseverything that we want in life
is on the other side of the wallof discomfort, right.
Speaker 1 (12:05):
Absolutely.
And as we're starting to movethat needle more, how can we
make our wealth work for us?
Like, are there some thingsthat people can put in play in
their life?
Speaker 2 (12:15):
I would ask people to find, ask people to discover
who do they have on their squad,who do they have on their team?
Great things that happen inlife rarely are done on their
own, by a solo person.
Yes, it begins with one person.
However, the more successfulpeople that I've seen and that I
(12:37):
work with, they've got what Icall a dream team.
On their bridge, they're thecaptain of the ship, yet they
are able to make better, morestrategic, more powerful and
more effective decisions whenthey're getting input from
others.
And that could be, yes, hiringpeople.
It could be that.
(12:58):
It could also be a different mixof what are you reading?
What are you listening to?
This goes back to, again,habits that have very little to
do with, say, investmentselection right, but it comes to
the behaviors that we have, andone of those can be, yes, I
want to hire a team.
That could be you're anaccountant, or you're a
(13:20):
financial advisor or an attorney, or whatever that mix might
look like.
It could also be what am Ilistening to in the car?
It could be what am I readingin my spare time?
It can be how I'm using myspare time.
It can be what am I?
What podcasts like yours, julie.
What podcasts are we listeningto when we're taking our walk or
(13:41):
even, for that matter, takingour shower, whatever the case be
?
So these, these external, theseexternal changes in life, move
that needle even further, andnone of them make the 100 or the
1000% difference in a snap.
None of them do.
But that's to be expected.
But what it does do, it doesmove the direction of the needle
(14:04):
in a deeper, stronger anglethan what you once had it before
.
So it's headed in the area thatyou wish.
So that's what.
So that's something else that Iwould consider.
Speaker 1 (14:15):
No, I love that and truly it comes down to investing
in ourselves like takinglearning a new skill, building
your repertoire and learningmore about finances all of that.
Speaker 2 (14:24):
Yes.
Speaker 1 (14:25):
And what have you found personally for your
personal growth, or what doesthat look like for you?
Speaker 2 (14:31):
I'm a big avid student of personal growth.
I discovered it in 2017, thanksto my lovely wife.
She opened the door for that,and I'll never go back as a
financial advisor.
Many people ask me, rick,what's the best investment?
Tell me what that investmentinvestment is, and they're
expecting me to deliver ananswer that says, well, it's
(14:52):
this XYZ stock or this ABC fundor something of that nature, and
my response always comes as asurprise.
The answer is your self-esteem.
Into that one thing, the changethat ignites in my life is
(15:16):
incredible and so immeasurable,and I would submit that that
would be the best investment foranyone listening to this show
to spend time and money in.
It's how I feel about myself.
Do I like myself?
Imagine what your life would belike if you were your biggest
(15:38):
fan.
Imagine, also if there was sucha thing as a self-esteem
thermometer.
Okay, so like we can take ourtemperature using a thermometer
under the tongue, so like we cantake our temperature using a
thermometer under the tongue.
Suppose there was a self-esteemthermometer that we could also
place, say, under our tongue,and it gave us a reading between
(16:05):
one and a hundred and thatmeasured our belief in ourself,
our self-estimate, ourself-esteem, how much we liked
ourselves.
And wouldn't you agree that aperson walking around with a
self-esteem reading of, say, 87is living a far greater, more
happy, joyful, prosperous lifethan that person walking around
(16:29):
with, say, a reading of 34?
Speaker 1 (16:31):
Yeah, yeah, 100%.
Speaker 2 (16:34):
And how do we get to that 87?
Or how did we get to that 34?
Whatever that case may be, I'mkind of making this imagery up,
but it's something that all ofus have.
We can't get away from ourself-esteem.
It's always there.
It's behind every decision thatwe make.
It's behind every action thatwe take.
(16:54):
It's not something that we canchoose to step away from,
because it's there, silently andinvisibly on our shoulder Every
single day.
Every decision that we make,every meal that we take, every
exercise clash, everyneighborhood event, every
business decision, thatself-esteem is behind that
(17:17):
decision in some form or manner.
So the biggest change for mylife personally that has
catapulted my business revenue,the people that I'm with, the
people that I feel like I'mworthy to associate myself with,
is all thanks to my investmentin self-esteem.
I would not be on the show hadit not been for that.
(17:39):
If you would have reached outto me, julie, and said Rick,
will you come on my show?
And the year was 2016.
I would look at you strangely.
I would take my glasses off andscratch my forehead, like I'm
doing now, and shake my head.
And what are you talking about?
What good do I have to give theworld.
(18:02):
What good is my word and whatvalue can I add to this show
with this word?
That was my state of affairs,that was my mindset, and the
truth is all of us are great,all of us are incredible.
We were all born withunbelievable qualities that two
(18:22):
up to us to be able to feelbetter about ourselves, to
unearth those out of the ground.
If they're sitting there in theground, when you feel great
(18:45):
about yourself and when youboost your self-esteem, that
internal window starts to go up,go up and up, and that
greatness starts to come out.
And that shows up in yourbusiness.
That shows up with yourinteractions with your clients,
with your customers.
That shows up with youremployees.
That shows up as you contributeto the world.
(19:07):
That's why it's such animportant part of one's
investment is self-esteem, in myview.
Speaker 1 (19:14):
I agree 100% and I love that because is self-esteem
in my view.
I agree a hundred percent and Ilove that because, while it
might feel a little abstract andit wouldn't normally make a
direct correlation to financialgrowth and financial wealth, but
it's everything that we do,it's our confidence, it's how we
show up, like you mentioned,every day it's feeling fulfilled
and the circles that we getinto, which then can catapult
(19:37):
our business even further.
So to your fulfilled and thecircles that we get into, which
then can catapult, you know, ourbusiness even further.
Speaker 2 (19:40):
So to your point.
Speaker 1 (19:40):
The more that we invest in ourselves and our
self-esteem, the more impact wecan have in the world.
Speaker 2 (19:47):
Yep, absolutely, absolutely.
It's something that everyoneshould be focusing more on.
And people they don't.
It's very subtle, it's verysubconscious on.
And people they don't.
It's very subtle, it's verysubconscious.
Those grains of sand of actions,the it's like a it's honestly
when we don't pay attention tothat.
Well, you know, I didn't flossmy teeth last night, or I
(20:09):
haven't flossed in a while, butyou know, the world didn't end.
Or I showed up five minuteslate and nobody died.
It's all okay, I'll just haveanother one of those glazed
donuts that I love from KrispyKreme.
Whatever the case is, I mean,it's one thing to treat yourself
, but these things, they add up,they add up.
(20:31):
It's easy for us to get down toa lazy path and the next thing
that we know it's it just, itsums, it sums, it sums up, and,
and now we start to see the endresult of these very small, very
tiny actions.
That's both for the negative aswell as the positive, as well
(20:51):
as the positive.
So the more people I feel focuson what am I doing day in, day
out?
Now, every day is not going tobe great.
I get that.
I don't score bullseyes everysingle day either.
However, if I pay attention tothe actions that I took today
and the actions that I did thatI really probably shouldn't have
(21:13):
done or I failed to do.
And if, say, the score, if wewant to keep a count and a
scorecard, if that's a positiveday, I've won the day.
And if I can do that againtomorrow, and then if I don't do
it the following day, well, howdid I do in the week?
And when you start to win theday, you start to win the week
and then you start to win themonth, then you start to win the
(21:35):
year.
And when, going back to when Ipersonally look at my own
results in my life business aswell as personal I recognize
that where I'm at today isthanks to actions that I took 15
years ago, 10 years ago, fiveyears ago.
They show up eventually and I'malways looking for better and
(21:58):
I'm not perfect by any stretchof the imagination, but being
self-aware of those things thatI do that I know are for the
better of me, and they may notfeel good, they may not feel
great, yet I'd rather grow thandecay.
It's one or the other.
Speaker 1 (22:18):
Yeah, absolutely, and I'm a big fan of continual
improvement as well.
So I'm curious what, ultimately, does success look like for you
?
Speaker 2 (22:28):
Success for me looks like was I a better person today
than I was yesterday?
Today than I was yesterday?
That's how I measure it.
In years past I would measureit as well Did I make this much
money in the year, or somethinglike that, these areas that I
(22:49):
feel like I could directlycontrol and, yes, you can
control that somewhat.
Yet the way that I control mypersonal success and my
professional success is am Ibetter today?
Did I increase myself as aperson, as a business owner, as
a husband, as a father, as a catowner, as a neighbor today than
(23:13):
yesterday?
Did that go up by 1% or afraction of a percent?
That's my definition of success.
If I just focus on that,everything else falls into place
.
It's as simple as that, but yetit's not as easy as that.
But it's as simple as that, andI love simplicity.
I don't like complexity in mylife.
(23:34):
I love simplicity.
Speaker 1 (23:36):
Yeah, absolutely.
And those 1% add up right Like1% per day.
You've got 365 after a year.
That adds up very quickly.
So to your point.
Speaker 2 (23:50):
You bet.
Speaker 1 (23:51):
So how do you work with people?
For people that are hearingthis, I need what he has.
What does that look like?
Speaker 2 (23:59):
Well, people can certainly reach out to me on my
website, salmaronfinancialcom.
Connect with me on social media.
Find me on Instagram, rickSalmaron, as well as LinkedIn.
I'm pretty active on those twoareas.
If you're looking for justnuggets of wisdom, I'll share
posts and hopefully that willhelp move that needle a little
(24:19):
bit more.
Whatever I post or whatever Ishare, however, I do work
one-on-one.
I am a big believer inlong-term relationships with my
clients.
I'm not a transactional basedperson whatsoever.
I'm more concerned about myclient, where they're at, where
they want to be and what can wedo to help get them as fast as
(24:43):
possible, as effectively aspossible and as income tax-wise
as possible from that point A tothe point B.
So, for people who arecurrently working with an
advisor, you're feeling greatabout that person.
That's wonderful.
If, on the other hand, you know,I wonder if a second opinion
might be a good idea.
(25:04):
I'm certainly open for thatsecond opinion.
Many times myself, when Istarted off in, say, my career,
I was working with, say, someonelong, long, long ago.
I was working with, say,someone long, long, long ago.
Or I remember I'll do theanalogy of when I graduated from
college, my first car was aFord Fiesta.
Well, I'm not driving that FordFiesta anymore.
(25:26):
My life has grown, my life hasblossomed.
That can better handle mysituation, and sometimes getting
a second opinion can be veryrevealing in this area of a
person's life or other areas oftheir life.
Speaker 1 (25:43):
So Absolutely no.
I love that, and I'm curious ifyou had the attention of the
whole world for five minutes,what would you tell them?
Speaker 2 (25:52):
I would tell them these five words you know what
to do.
That's what I would tell them.
And get a support system inplace that will help move you
(26:15):
and motivate you and create themomentum to get you to where you
want to go, because momentum isvery, very strong, very, very
strong, because it can be greatand it can also be not so great.
And we want to make sure thatthe momentum that you're driving
yourself, that's behind youtoday and tomorrow and the next
(26:37):
day, is one that's moving in apositive direction and not a
downward direction.
And that means having thatstrong support system and that
dream team in place.
Speaker 1 (26:52):
Absolutely.
I'm listening to your gutbecause to your point you know
what to do yeah, yeah, awesome.
Speaker 2 (26:56):
Well, thank you, rick , I'm listening to your gut
because, to your point, you,know what to do.
Speaker 1 (26:58):
Yeah, yeah, awesome.
Well, thank you, rick.
I appreciate you being on today.
This was great.
Speaker 2 (27:03):
Thank you, julie, it's been lovely and a pleasure.
Speaker 1 (27:05):
Yeah, absolutely, and if you found value in this
episode, please do share it.
That's how people find us, andyou can find me at
sevenfigurebuildercom and I willsee you on the next episode.
Welcome back.
This is Julie Baranek, host ofthe 7 Figure Builder Show, and
I'm here today with my friendRick Salmiron.
Hey, Rick.
Speaker 2 (00:06):
Hey, julie, hi.
Speaker 1 (00:09):
Hi and you are the founder of Salmiron Financial
and you help your clients growtheir wealth so that they can
grow their life.
Can you tell us a little bitabout what it is that you do and
what that actually looks like?
Speaker 2 (00:22):
Sure, yeah, I'm an independent financial advisor
here in Dallas, texas.
I've been in the officially inthe business for a very long
time Gosh 1990, when I thinkabout that and I founded my
company in 2001, I love thatword, so that's going to be one
of my takeaways today is founderof my company.
So, in essence, I helpindividuals make smart decisions
(00:45):
with their money.
They do well, their income isstrong, they're busy, the plate
is already full, yet theyunderstand how important, of
course, this aspect of theirlife is.
I'm making good money, I've gotsome savings or I need to build
up my savings and build mywealth, and what are the best
ways for me to do that?
(01:06):
What am I doing right, what amI doing wrong?
And at many times as you can I'msure appreciate, julie as well
as everyone else on this episodea person from the outside, in
looking in, can really shinelights in areas that you cannot
see, because we all have blindspots right.
That goes for our health, thatgoes for many aspects in life
and, of course, it also goeswith one's money too.
(01:29):
I like to create the imagery ofhere's the successful person,
the family person, the businessowner, whoever that is.
They are within their let'scall it a black box that
represents their money, theirincome.
Let's call it a black box thatrepresents their money, their
income and their wealth.
They're able to see certainareas of the black box, but it's
(01:53):
not possible for them to seeeverything, and I love I love to
shine what I call white bulbsflashlights inside those areas
to make them go wow, aha, Iwasn't aware of that.
Or I see what I'm doing right,or I see what I'm doing wrong
here, so that their money isheaded in their direction their
future, not somebody else'sfuture.
That's so important.
Speaker 1 (02:12):
A hundred percent and I love that having I mean
that's the key with having anexpert in your life right To be
able to show you and bringvisibility into the areas that
you're not seeing.
Speaker 2 (02:22):
You also, of course, you want to make sure that that
expert's got your best interestsin mind.
Yeah, that goes without saying,but that's very important to
use your intuition and make surethat that part is valid too.
I really do believe that all ofus walking around this really
comes down to the why of why Ido what I do, julie, that we all
(02:45):
have what I call a peace ofmind square in life.
I like to draw, imagine asquare.
It's got four sides, like anyother square does, and everyone
has one of these, and on eachside represents a very powerful
aspect of their life.
One side would be health,physical as well as mental,
(03:08):
right.
The other side would berelationships, personal as well
as profession.
Okay, the third side would becontribution, or how I show up
in the world, how I'm givingback and how the world sees me.
And then the fourth is moneyand finances.
(03:29):
And when you take a look atthose four sides of the square
and if you're able to rankyourself on a scale of one to 10
on those four sides, how do yourank?
How do you rank?
And when a person is rankingthemselves a 10 out of 10 on all
those four sides, then theyhave true peace of mind, in my
(03:52):
view, and if you're at thatstage and more power to you,
then what's the next 10?
What's the next level?
10?
So it's my circling back to whyI love what I do.
It's my bias belief perhapsthat the money side of anyone's
piece of mind square is the mostimportant, because it can
(04:13):
support tremendous health.
It can help support wonderful,thriving relationships.
It can help support yourcontribution or how giving back
to the community and how youshow up.
Of course, it also can supporta fantastic entrepreneurial
business too.
That also is very key.
(04:34):
But as a financial advisor, itmotivates me and inspires me to
help other business owners withthat side of their life so that
they're making the bestdecisions as they can with what
they have.
Speaker 1 (04:49):
Yeah, yeah.
And to your point I mean, thatside in particular definitely
hits on the other sides and hasa massive impact.
You know positive or negative.
So what?
What would you say are thebiggest gaps that your clients
make, right, or you know thatthey don't realize that they
have in their life?
Speaker 2 (05:08):
When it comes to their money.
I believe that the biggest gapthat they have is their behavior
.
When people accumulate wealthor they're pursuing, say, a
retirement goal, or saving fortheir kids, or whatever the case
may be, or saving for theirkids or whatever the case may be
(05:29):
, it's very easy to believe thatthe key to accomplishing or
pursuing or achieving thosegoals lies in the investment
selection that I have.
Oh, I need to find the best,this or that or whatever the
case is, and that's inaccurate.
It's not true.
It's not to be ignored.
It's a very important part ofone's overall financial plan.
(05:49):
However, the key, the driver,is behavior the actions that a
person takes and the actionsthat they don't take.
Those add up to, those will addup to and translate into
whatever financial results thata person has in their life.
So, if you take a look at yourpersonal balance sheet for those
(06:12):
listening take a look at yourbalance sheet, take a look at
your, say, your company revenueor its net income or whatever
the case might be income orwhatever the case might be and
that number, whatever thatnumber looks like, that's a
result of the behaviors thatyou've done in the past week,
the past year, the past fiveyears.
(06:33):
It's a sum of a lot ofbehaviors.
I like to call these actionsgrains of sand.
All right, it's very subtle.
It's the boring stuff that we,as entrepreneurs, we recognize
the really, in my view, the goldis found in the boring stuff.
It's not found in the exterior.
(06:55):
Oh my gosh, I just landed thisamazing huge client that I never
thought that I could land, orwhatever the case may be.
Can those moments happen?
Yes, are they rare?
Absolutely.
Can they not happen, you bet?
So the results in our life areall a sum of those tiny little
(07:16):
actions, those tiny littlegrains of sand, and what we see
we're either very happy with orwe're not happy with it, or we
want to improve or do better.
So how does that mound of sandlook like to you?
Is it a dull, boring mound, oris it a beautiful sandcastle on
(07:36):
the beach?
So I found the one area thatpeople don't recognize that is
more important than really ever,and that is the behavior and
the actions that we take orthose that we avoid.
Speaker 1 (07:50):
Absolutely, and those are the things we can control
the most.
Yes, that's the good news.
Speaker 2 (07:55):
That is the good news .
We can't control inflation, wecan't control what's going to
happen in various parts of thecountry, and we can't control.
There's so many things that wecannot control, and the
fantastic news is we can controleach and every one of those
actions.
You hit it right on thebullseye.
Speaker 1 (08:13):
Yeah, and what are some very practical things that
people can do, you know, forthose tiny steps or things that
people can do to move the needlein the world?
Speaker 2 (08:24):
Well, many.
When it comes to people's money, many people conclude, wow, I
don't have.
I don't have enough income or Idon't have enough to save, or
I'm not able to save any morethan I can than what I currently
am doing.
And I would submit that there'sa very good chance that you
could find ways to to make someadditional, create some
(08:45):
additional dollars out of quote,unquote, thin air.
And what I'm talking about iswhat I call a financial Jenga
game.
In other words, take a look atall.
Go through the exercise of thismonth and next month.
I want you to list all of yourexpenses.
Perhaps you already trackedthis already.
(09:06):
That's wonderful.
If not, this can be a start.
But I want you to track all ofyour expenses, whatever they are
, with no right or wrong, nogood or bad.
Just identify what is going out, of course, identify what is
going in as well.
But when you identify what isgoing on, do that for the month
(09:27):
of June, do that for the monthof July.
You've got two months to seeand now categorize each one of
your expenses.
Now play the financial Jengagame.
You've got the stack ofexpenses.
Let's see what pieces out ofthat monthly expense list we can
(09:47):
take out and redirect,categorize, prioritize.
Are these really important?
Some are, but I will bet thatwe could find some additional
disposable income somehow goingthrough that exercise that could
be redirected into somethingelse Reinvesting your business,
perhaps saving for retirement,perhaps saving for that next
(10:11):
home, saving for whatever thecase may be.
Whatever that importantfinancial goal is requiring that
fuel of healthy money right Tomake that happen.
We can find, as if we're miningfor gold, for example, we can
find potential new money thatwas spent in one way that could
be better served in another.
(10:31):
That would be one example of anexercise.
Speaker 1 (10:35):
Yeah, no, I love that and personally I love doing
that.
I mean, I wouldn't say I lovedoing that.
Speaker 2 (10:41):
I like to do it every couple of months because for me
personally.
Speaker 1 (10:44):
I have like subscriptions or things that I
try or trials and like all thoselittle pieces add up and then
going back.
I don't really need thisanymore.
Speaker 2 (10:54):
I love what you just said.
I don't really enjoy doing it,and that's that is a that's a
key here.
That's a key that that thesetypes of habits the, say, the
listing of the tracking of theexpenses many times when we
become better business owners,when we become better
responsible people, when webecome a better person whatever
(11:16):
that might be that involvesthose habits that don't feel
great.
Don't feel great.
If I want to feel good, I'll goeat a hot fudge sundae and
watch some Netflix, right.
If, on the other hand, I wantsomething that I know will
better myself, that will improvemyself, then that involves
(11:40):
something that's not going tofeel really good, and people
should take pause and notice.
If it's not feeling good, thatshould, ironically, make them
feel good, because that meansperhaps they're on the right
track to something better on theend, because everything that we
want in life we all know thiseverything that we want in life
is on the other side of the wallof discomfort, right.
Speaker 1 (12:05):
Absolutely.
And as we're starting to movethat needle more, how can we
make our wealth work for us?
Like, are there some thingsthat people can put in play in
their life?
Speaker 2 (12:15):
I would ask people to find, ask people to discover
who do they have on their squad,who do they have on their team?
Great things that happen inlife rarely are done on their
own, by a solo person.
Yes, it begins with one person.
However, the more successfulpeople that I've seen and that I
(12:37):
work with, they've got what Icall a dream team.
On their bridge, they're thecaptain of the ship, yet they
are able to make better, morestrategic, more powerful and
more effective decisions whenthey're getting input from
others.
And that could be, yes, hiringpeople.
It could be that.
(12:58):
It could also be a different mixof what are you reading?
What are you listening to?
This goes back to, again,habits that have very little to
do with, say, investmentselection right, but it comes to
the behaviors that we have, andone of those can be, yes, I
want to hire a team.
That could be you're anaccountant, or you're a
(13:20):
financial advisor or an attorney, or whatever that mix might
look like.
It could also be what am Ilistening to in the car?
It could be what am I readingin my spare time?
It can be how I'm using myspare time.
It can be what am I?
What podcasts like yours, julie.
What podcasts are we listeningto when we're taking our walk or
(13:41):
even, for that matter, takingour shower, whatever the case be
?
So these, these external, theseexternal changes in life, move
that needle even further, andnone of them make the 100 or the
1000% difference in a snap.
None of them do.
But that's to be expected.
But what it does do, it doesmove the direction of the needle
(14:04):
in a deeper, stronger anglethan what you once had it before
.
So it's headed in the area thatyou wish.
So that's what.
So that's something else that Iwould consider.
Speaker 1 (14:15):
No, I love that and truly it comes down to investing
in ourselves like takinglearning a new skill, building
your repertoire and learningmore about finances all of that.
Speaker 2 (14:24):
Yes.
Speaker 1 (14:25):
And what have you found personally for your
personal growth, or what doesthat look like for you?
Speaker 2 (14:31):
I'm a big avid student of personal growth.
I discovered it in 2017, thanksto my lovely wife.
She opened the door for that,and I'll never go back as a
financial advisor.
Many people ask me, rick,what's the best investment?
Tell me what that investmentinvestment is, and they're
expecting me to deliver ananswer that says, well, it's
(14:52):
this XYZ stock or this ABC fundor something of that nature, and
my response always comes as asurprise.
The answer is your self-esteem.
Into that one thing, the changethat ignites in my life is
(15:16):
incredible and so immeasurable,and I would submit that that
would be the best investment foranyone listening to this show
to spend time and money in.
It's how I feel about myself.
Do I like myself?
Imagine what your life would belike if you were your biggest
(15:38):
fan.
Imagine, also if there was sucha thing as a self-esteem
thermometer.
Okay, so like we can take ourtemperature using a thermometer
under the tongue, so like we cantake our temperature using a
thermometer under the tongue.
Suppose there was a self-esteemthermometer that we could also
place, say, under our tongue,and it gave us a reading between
(16:05):
one and a hundred and thatmeasured our belief in ourself,
our self-estimate, ourself-esteem, how much we liked
ourselves.
And wouldn't you agree that aperson walking around with a
self-esteem reading of, say, 87is living a far greater, more
happy, joyful, prosperous lifethan that person walking around
(16:29):
with, say, a reading of 34?
Speaker 1 (16:31):
Yeah, yeah, 100%.
Speaker 2 (16:34):
And how do we get to that 87?
Or how did we get to that 34?
Whatever that case may be, I'mkind of making this imagery up,
but it's something that all ofus have.
We can't get away from ourself-esteem.
It's always there.
It's behind every decision thatwe make.
It's behind every action thatwe take.
(16:54):
It's not something that we canchoose to step away from,
because it's there, silently andinvisibly on our shoulder Every
single day.
Every decision that we make,every meal that we take, every
exercise clash, everyneighborhood event, every
business decision, thatself-esteem is behind that
(17:17):
decision in some form or manner.
So the biggest change for mylife personally that has
catapulted my business revenue,the people that I'm with, the
people that I feel like I'mworthy to associate myself with,
is all thanks to my investmentin self-esteem.
I would not be on the show hadit not been for that.
(17:39):
If you would have reached outto me, julie, and said Rick,
will you come on my show?
And the year was 2016.
I would look at you strangely.
I would take my glasses off andscratch my forehead, like I'm
doing now, and shake my head.
And what are you talking about?
What good do I have to give theworld.
(18:02):
What good is my word and whatvalue can I add to this show
with this word?
That was my state of affairs,that was my mindset, and the
truth is all of us are great,all of us are incredible.
We were all born withunbelievable qualities that two
(18:22):
up to us to be able to feelbetter about ourselves, to
unearth those out of the ground.
If they're sitting there in theground, when you feel great
(18:45):
about yourself and when youboost your self-esteem, that
internal window starts to go up,go up and up, and that
greatness starts to come out.
And that shows up in yourbusiness.
That shows up with yourinteractions with your clients,
with your customers.
That shows up with youremployees.
That shows up as you contributeto the world.
(19:07):
That's why it's such animportant part of one's
investment is self-esteem, in myview.
Speaker 1 (19:14):
I agree 100% and I love that because is self-esteem
in my view.
I agree a hundred percent and Ilove that because, while it
might feel a little abstract andit wouldn't normally make a
direct correlation to financialgrowth and financial wealth, but
it's everything that we do,it's our confidence, it's how we
show up, like you mentioned,every day it's feeling fulfilled
and the circles that we getinto, which then can catapult
(19:37):
our business even further.
So to your fulfilled and thecircles that we get into, which
then can catapult, you know, ourbusiness even further.
Speaker 2 (19:40):
So to your point.
Speaker 1 (19:40):
The more that we invest in ourselves and our
self-esteem, the more impact wecan have in the world.
Speaker 2 (19:47):
Yep, absolutely, absolutely.
It's something that everyoneshould be focusing more on.
And people they don't.
It's very subtle, it's verysubconscious on.
And people they don't.
It's very subtle, it's verysubconscious.
Those grains of sand of actions,the it's like a it's honestly
when we don't pay attention tothat.
Well, you know, I didn't flossmy teeth last night, or I
(20:09):
haven't flossed in a while, butyou know, the world didn't end.
Or I showed up five minuteslate and nobody died.
It's all okay, I'll just haveanother one of those glazed
donuts that I love from KrispyKreme.
Whatever the case is, I mean,it's one thing to treat yourself
, but these things, they add up,they add up.
(20:31):
It's easy for us to get down toa lazy path and the next thing
that we know it's it just, itsums, it sums, it sums up, and,
and now we start to see the endresult of these very small, very
tiny actions.
That's both for the negative aswell as the positive, as well
(20:51):
as the positive.
So the more people I feel focuson what am I doing day in, day
out?
Now, every day is not going tobe great.
I get that.
I don't score bullseyes everysingle day either.
However, if I pay attention tothe actions that I took today
and the actions that I did thatI really probably shouldn't have
(21:13):
done or I failed to do.
And if, say, the score, if wewant to keep a count and a
scorecard, if that's a positiveday, I've won the day.
And if I can do that againtomorrow, and then if I don't do
it the following day, well, howdid I do in the week?
And when you start to win theday, you start to win the week
and then you start to win themonth, then you start to win the
(21:35):
year.
And when, going back to when Ipersonally look at my own
results in my life business aswell as personal I recognize
that where I'm at today isthanks to actions that I took 15
years ago, 10 years ago, fiveyears ago.
They show up eventually and I'malways looking for better and
(21:58):
I'm not perfect by any stretchof the imagination, but being
self-aware of those things thatI do that I know are for the
better of me, and they may notfeel good, they may not feel
great, yet I'd rather grow thandecay.
It's one or the other.
Speaker 1 (22:18):
Yeah, absolutely, and I'm a big fan of continual
improvement as well.
So I'm curious what, ultimately, does success look like for you
?
Speaker 2 (22:28):
Success for me looks like was I a better person today
than I was yesterday?
Today than I was yesterday?
That's how I measure it.
In years past I would measureit as well Did I make this much
money in the year, or somethinglike that, these areas that I
(22:49):
feel like I could directlycontrol and, yes, you can
control that somewhat.
Yet the way that I control mypersonal success and my
professional success is am Ibetter today?
Did I increase myself as aperson, as a business owner, as
a husband, as a father, as a catowner, as a neighbor today than
(23:13):
yesterday?
Did that go up by 1% or afraction of a percent?
That's my definition of success.
If I just focus on that,everything else falls into place
.
It's as simple as that, but yetit's not as easy as that.
But it's as simple as that, andI love simplicity.
I don't like complexity in mylife.
(23:34):
I love simplicity.
Speaker 1 (23:36):
Yeah, absolutely.
And those 1% add up right Like1% per day.
You've got 365 after a year.
That adds up very quickly.
So to your point.
Speaker 2 (23:50):
You bet.
Speaker 1 (23:51):
So how do you work with people?
For people that are hearingthis, I need what he has.
What does that look like?
Speaker 2 (23:59):
Well, people can certainly reach out to me on my
website, salmaronfinancialcom.
Connect with me on social media.
Find me on Instagram, rickSalmaron, as well as LinkedIn.
I'm pretty active on those twoareas.
If you're looking for justnuggets of wisdom, I'll share
posts and hopefully that willhelp move that needle a little
(24:19):
bit more.
Whatever I post or whatever Ishare, however, I do work
one-on-one.
I am a big believer inlong-term relationships with my
clients.
I'm not a transactional basedperson whatsoever.
I'm more concerned about myclient, where they're at, where
they want to be and what can wedo to help get them as fast as
(24:43):
possible, as effectively aspossible and as income tax-wise
as possible from that point A tothe point B.
So, for people who arecurrently working with an
advisor, you're feeling greatabout that person.
That's wonderful.
If, on the other hand, you know,I wonder if a second opinion
might be a good idea.
(25:04):
I'm certainly open for thatsecond opinion.
Many times myself, when Istarted off in, say, my career,
I was working with, say, someonelong, long, long ago.
I was working with, say,someone long, long, long ago.
Or I remember I'll do theanalogy of when I graduated from
college, my first car was aFord Fiesta.
Well, I'm not driving that FordFiesta anymore.
(25:26):
My life has grown, my life hasblossomed.
That can better handle mysituation, and sometimes getting
a second opinion can be veryrevealing in this area of a
person's life or other areas oftheir life.
Speaker 1 (25:43):
So Absolutely no.
I love that, and I'm curious ifyou had the attention of the
whole world for five minutes,what would you tell them?
Speaker 2 (25:52):
I would tell them these five words you know what
to do.
That's what I would tell them.
And get a support system inplace that will help move you
(26:15):
and motivate you and create themomentum to get you to where you
want to go, because momentum isvery, very strong, very, very
strong, because it can be greatand it can also be not so great.
And we want to make sure thatthe momentum that you're driving
yourself, that's behind youtoday and tomorrow and the next
(26:37):
day, is one that's moving in apositive direction and not a
downward direction.
And that means having thatstrong support system and that
dream team in place.
Speaker 1 (26:52):
Absolutely.
I'm listening to your gutbecause to your point you know
what to do yeah, yeah, awesome.
Speaker 2 (26:56):
Well, thank you, rick , I'm listening to your gut
because, to your point, you,know what to do.
Speaker 1 (26:58):
Yeah, yeah, awesome.
Well, thank you, rick.
I appreciate you being on today.
This was great.
Speaker 2 (27:03):
Thank you, julie, it's been lovely and a pleasure.
Speaker 1 (27:05):
Yeah, absolutely, and if you found value in this
episode, please do share it.
That's how people find us, andyou can find me at
sevenfigurebuildercom and I willsee you on the next episode.
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