Today I review Rick Melero's presentation from last night at TBREIA's Main Meeting. The question is, what do you do with $86,400? Relate your time in a day to that specific amount. Do you waste it or use it wisely?
Show Notes:
Last night was tpres main meeting this is when we get all the subgroups together we get everyone there in one room and last night was packed one of the reasons why it is so packed is it's the start of the New Year it's January and everyone wants to take off the the new year right and so they all him show up the other reason I think is more because of the person that showed up that was presenting for for the the mean median and that is Rick melero Alero is basically he's the the guy behind his Capital he started out as a wholesaler here in Tampa and yeah. So point where he he started to become more successful and started lending money he started using the money that he was making to do rehab some all this stuff yeah he created a company called his capital for his capital and he he puts out amazing contact every year and I've I've seen him speak for the past I'd say three years now every year he gives us the same level of presentation it is awesome he gives us a breakdown of what's going on in the market and the breakdown is New by numbers he actually shows us the numbers he's showing us for each zip code and he's not going to go through all the ZIP codes in Florida but he goes through zip codes that we know because he's he's coming in from Orlando and he knows Tampa he used to live here and so he picked a few zip codes that we are all familiar with and showed us the actual numbers for those zip codes as far as residency know the value of the houses and then over time it shows all of that data and shows us kind of where things are headed but then he does this every every year but then he he posed the question that really made a lot of people think and that is if he were to deposit $86,400 into your account every day what would you do with it would you take it all out or when would there be some left in that account or if you were devious would you try to take out more money than what's already there right so instead of 86,400 you take out $86,405 make make him pay the extra 5 well that question was his Segway to time management and the relationship between 86400 and time management is that we all have 86400 seconds every single day that is what is deposited into our account every single day and what we do with that is up to us as far as do we waste it and we take it all in just wasted drugs and alcohol or any other addictions that you may have do you use it to invest in yourself do you use it to invest in others to use it to just give away the others what is it that you're really going to do with that money or in in relation to time what are you going to do with that time and it made a lot of people think I heard this just brought up before but there were a few things that kind of stood out to me overtime in in it it all starts with that that specific number 86,400 and you wish to not waste but you have time for sleeping and then you have time put in for eating at commuting from home to work and back and then time with your family as you have all this going on and then of course your time at work right which is about 8 hours and then you have the rest of that time available to you what are you going to do with it there were a few things that that kind of stood out during his presentation and one of them was he had a timeline of basically a lifespan right it showed when you're born and then there was a hash mark for 30 years and then hash mark for 60 years and then another hash mark for 90 years where 90 years let's say on average 90 years is the length of lifespan at that's not the whole lot's been right there 0 to 90 and you block out the first 20 maybe 30 years and that's gone right you don't get that back and then you have let's say you want to retire around age 60 and then from age 60 to 90 that's 30 years that's that's all blocked out so now you have 30 years on this life span on this this line for your your life that represent your life and you have 30 years and inside of that you have whatever the calculation would be 30 x 365 x 86400 that's how much and if you think of that in terms of money that's how much money you have and you have to use that money wisely so that means you have to use that time wisely you have to think about what are you going to do like you don't have a lot of time and if you are like past the age of 30 let's say you're 41 now you have 20 years to 15 years to do everything you have to do so that you retire at 60 so that you have 30 years of retirement to enjoy your life Joy your family and all that what are you going to do how are you going to invest that time how are you going to allocate what goes where as far as that time goes really translate the time into money and a lot of us we like to hold on to that money or we'd like to spend that much and it just depends on how you use it that was one of the things that kind of stood out the other was he told a story Rick told a story about a 80 year old man saying when I was young I was thinking I can change the world and so he went out and worked on changing the world a few years go by and he thinks I can't change the world let me change the nation and so he went to work to change the nation and then two years goes by he's thinking I can't change the nation let me change my town so you go to work to change his town and again few years later thinking I can't change my town let me change my family and he tried to do that and he sees that it my family is already old they can't change and he's thinking wow had I worked on myself first then I could have worked on my family and from there my family would have gotten involved in trying to help the town and you know the town would have changed and then from the town being involved in the nation the nation would have changed and then from there he would have changed the world so think about how you are investing. Time how you are investing that money is it going to something that's too big to to work on right now or is it going to working on yourself first working on yourself first and then slowly spreading out that work to your family to your your extended family and your community than your town and then your city in a sewing and so forth that's how you really should be allocating your time how you should be investing your time and so that was the main thing that the main theme for last night's presentation it was a real estate market cycle presentation with all the data he showed us where things are going from his perspective it looks as though we are still on an upward Trend we may see it a few dips here and there but we're still kind of on an upward trend for maybe another two years and then it's going to start taking a dive again so prepare yourself for what's to come and start focusing on where that $86,400 is going to be invested or where that 86,400 seconds is going to be invested so that's it for today I'll see you tomorrow
