SEASON: 6 EPISODE: 32
Episode Overview:
Welcome back to Becoming Preferred, the podcast where help you become the best version of you.
If you are an entrepreneur or a business professional, you know that scaling a company often comes with a massive cost. Too many high-performers find themselves financially successful but time-poor, stress-ridden, and completely disconnected from the life they originally set out to build.
Well, today’s guest is here to change that script. He is an elite wealth strategist, founder of Michels Family Financial, and author of the powerhouse new book, Rich by Choice. Nick has a fascinating story that spans from childhood financial hardship and working on a Texas golf course, to playing professional basketball overseas, and turning down a massive $8.1 million corporate signing bonus just to ensure his advice remained entirely independent, transparent, and focused on his clients' best interests.
Today, we are discussing how to align your revenue with your deepest values, protect your hard-earned assets from advanced tax leaks, and use the 'Rocking Chair Test' to design a life of radical generosity and freedom. Get ready to take back control—please welcome to the show, Dr. Nicholas Michels!
Guest Bio:
Nick’s journey began in both abundance and hardship, an experience that taught him early on the profound influence money has on life and relationships. Outside his work, Nick is a devoted husband to his wife, Chelsea, and a proud father to their four children, Daegen, Kinsley, Brooks, and Everly. Together, Nick and Chelsea are deeply committed to giving back through the Michels Corporation, their charitable foundation that supports youth education, families in need, global missions and causes close to their hearts.
Resource Links:
- Website: https://michelsfamilyfinancial.com/
- Product Link: https://richbychoicebook.com/
Insight Gold Timestamps:
03:05 Coming from humble beginnings, there was no college fund waiting for me
03:48 I encourage all kids to get internships, because you learn so much
05:50 One thing that I love about this work is because I get a backstage pass into people's lives
07:24 Your book is titled Rich by Choice
09:50 Most people are financially busy, but they're emotionally broke
11:50 It finally boiled down for me it was really about freedom
14:33 When you stop for a second and say, "Okay, where are things going?"
18:56 You talk about money first being a blessing and a curse
19:41 I had pretty quick success, and it had nothing to do with me
21:02 If you're an entrepreneur, you've got to understand who you're helping, how you are helping them, and how many times you can get in front of them and say, "Hey, I'm so and so. This is how I can benefit your life."
22:53 All my clients are wonderfully different
23:05 We have 6 key areas that we help people
25:14 You utilize this concept called the rocking chair test
28:03 What could be a great answer for you could be a terrible answer for someone else
29:15 I think this is so important, is who do you become?
32:22 I had a chance to play professional basketball in Europe
33:52 AI is not the issue, irrelevance is
34:56 Your goal is to be an expert in your field
37:57 I call it outwardly successful, inwardly stressed
39:25 I say the juice has to be worth the squeeze
40:30 Rich by Choice: Take Back Control, Master Your Money, and Design the Life of Your Dreams
42:31 There's so many areas where luck can come into play
43:49 Once you understand and have confidence and clarity on the direction you're going- that's when there's joy
45:49 If you don't have purpose, I believe the soul dies and we die pretty quickly
Connect Socially:
LinkedIn: https://www.linkedin.com/company/michelsfamilyfinancial
Facebook: Michels Family Financial https://www.facebook.com/michelsfamilyfinancial
Instagram: https://www.instagram.com/michelsfamilyfinancial/
Email: [email protected]
Sponsors:
Rainmaker LeadGen Platform Demo: https://calendar.summit-learning.com/widget/booking/JKItVP7WErmCBjU2cCIx
Rainmaker Digital Solutions: https://www.rainmakerdigitalsolutions.com/