Live it Full

If you know your own worth,
what need you care about
the acceptance or rejection of others?

-Osho

"Do not strive to avoid the inevitable suffering of life but instead, find what is worthy of your suffering." J. Mike Fields

Richard and Kaitlin discuss how they handle their personal and business finances in the 20th episode of the Live it Full Podcast.

The Parable of the Talents

14 “For it will be like a man going on a journey, who called his servants[a] and entrusted to them his property. 15 To one he gave five talents,[b] to another two, to another one, to each according to his ability. Then he went away.16 He who had received the five talents went at once and traded with them, and he made five talents more. 17 So also he who had the two talents made two talents more. 18 But he who had received the one talent went and dug in the ground and hid his master's money. 19 Now after a long time the master of those servants came and settled accounts with them. 20 And he who had received the five talents came forward, bringing five talents more, saying, ‘Master, you delivered to me five talents; here, I have made five talents more.’ 21 His master said to him, ‘Well done, good and faithful servant.[c] You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ 22 And he also who had the two talents came forward, saying, ‘Master, you delivered to me two talents; here, I have made two talents more.’ 23 His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ 24 He also who had received the one talent came forward, saying, ‘Master, I knew you to be a hard man, reaping where you did not sow, and gathering where you scattered no seed, 25 so I was afraid, and I went and hid your talent in the ground. Here, you have what is yours.’ 26 But his master answered him, ‘You wicked and slothful servant! You knew that I reap where I have not sown and gather where I scattered no seed? 27 Then you ought to have invested my money with the bankers, and at my coming I should have received what was my own with interest. 28 So take the talent from him and give it to him who has the ten talents. 29 For to everyone who has will more be given, and he will have an abundance. But from the one who has not, even what he has will be taken away. 30 And cast the worthless servant into the outer darkness. In that place there will be weeping and gnashing of teeth.’

1: 70/20/10 - Live on 70% of your income, invest 20% and give away 10%. 

2: If you can’t buy something with cash, don’t buy it with credit (other than a car or real estate). 

3: Have six months of living expenses in cash but no more than that. 

4: Don’t waste money.

5: Don’t spend money based on emotion. 

6: When investing your money, do your due diligence, then do it again. 

7: Think four generations in the future before you spend or invest your money. Will it benefit my children’s children? 

8: Never carry a credit card balance unless it’s at 0%. 

9: Never have all your money in one account. (Read Profit First if you haven’t) 

10: Never have all your money in one investment (unless it’s your first deal).

11: Never spend more than you can truly afford. You have to know what you can afford. 

12: Don’t spend money solely to impress others, the Joneses are broke, you just don't know it. 

13: Make sure the reward always outweighs the risk. 

14: Treat your money as if you worked hard for it, even if you didn’t. 

15: Never work for the same dollar twice.

16: Manage and adapt your budget monthly.

17: Know your numbers (this is most people’s biggest issue) 

18: If it sounds too good to be true it is, trust me. 

19: Inform yourself of how taxes work and pay accordingly, get a good CPA. 

20: Never rely on just one source of income, the average millionaire has seven. 

21: Spend your time earning money until you can spend your money earning time.

Meditating on your mortality is only depressing if you miss the point. It is in fact a tool to create priority and meaning. It’s a tool that generations have used to create real perspective and urgency. To treat our time as a gift and not waste it on the trivial and vain. Death doesn’t make life pointless but rather purposeful.  Ryan Holiday 

Richard and Kaitlin discuss their takeaways from the book "Atomic Habits" by James Clear. 

"Out of every one hundred men, ten shouldn't even be there, eighty are just targets, nine are the real fighters, and we are lucky to have them, for they make the battle. Ah, but the one, one is a warrior, and he will bring the others back." -Heraclitus

Do you need rest or peace? Physical sleep or mental relaxation? Kaitlin and Richard discuss what they do when feeling worn down.