Hey everyone, it's Joe Soto back with another episode of Wealth in the Fifth Dimension! Today I'm talking about something super important: having a vision for your money. It's like getting on a plane and the pilot has no idea where you're going – that's just asking for trouble, right?

Well, your finances are the same way. If you don't have a clear vision for your money, it's like flying blind. You might run into problems, like arguments with your family about spending or not having enough money when you need it.

A lot of people don't even think about this. They don't have a plan for their money, and they don't have a vision for their family either. But those two things are connected! If you don't know where you're going as a family, how can you know how your money can help you get there?

So, what's the solution? You need a vision that pulls you forward! It's about having goals and dreams for your family and figuring out how your money can help you achieve them.

For example, when my kids ask for something, instead of just saying "no," we ask them how they're going to earn the money to buy it. This gets them thinking creatively and teaches them about the value of money.

Now, I'll be honest, I don't have everything figured out perfectly. But I'm constantly working on it, and that's what matters. It's about having a plan and making adjustments along the way.

So, here's your homework:

* Do you have a written financial plan?

* Do you have a vision for your family?

Talk to your family about these things. Find out what's important to them and where they see your family in the future. Once you have a plan, you can start working towards your goals together.

Thanks for tuning in, everyone! Don't forget to follow and share the podcast, and leave me some comments or questions below. I'll keep making these episodes as long as they're helpful. Take care and have a blessed day!

Hey everyone, and welcome back! Today I'm talking about something super important: teaching our kids about money. Think about it, if we don't do it, who will? And what will they teach them?

Growing up, my parents didn't really talk about money, and I've realized I'm kind of doing the same thing with my own kids. It's like we're only showing them how to spend, not how to save or make smart decisions with money. Like when we go on vacation, they see the fun part, but they don't see the planning and saving that made it happen.

I've realized that just being a good person isn't enough when it comes to money. We need to be financially literate too! Honestly, I'm still learning myself. There's so much I didn't know, and I made a ton of mistakes because of it. It was stressful, and I even had to ask my parents for help sometimes. Not cool!

But here's the good news: we can all learn and improve! It starts with being honest about what we know and what we don't. There are tons of resources out there, and we can learn together. Did you know that a lot of people are broke even though they work hard? It's because they don't know the rules of money!

That's why I'm on this journey to boost my own financial knowledge and build a strong financial legacy for my family. Like Benjamin Franklin said, "An investment in knowledge pays the best interest." That's true for all areas of life, not just money.

So, what can you do? Start by thinking about what you want your legacy to be. Do you want to be remembered as someone who was responsible with money and taught their kids to do the same?

As we learn, we can teach our kids, and that's a powerful thing. It can change our lives and theirs for the better.

Thanks for tuning in! Don't forget to follow the podcast and share it with someone you think could benefit from it. See you next time!

Hey everyone, this is Joe Soto from the 𝑾𝒆𝒂𝒍𝒕𝒉 𝒊𝒏 𝒕𝒉𝒆 5𝒕𝒉 𝑫𝒊𝒎𝒆𝒏𝒔𝒊𝒐𝒏 podcast, and today we're diving deep into a topic that might surprise you: resentment. 

It's not something you typically hear about on Wall Street, but trust me, this is a wealth destroyer, and I'm going to tell you why.

I've seen it firsthand, both in my own life and with my clients. Resentment is like poison – you're only hurting yourself by holding onto it. It builds walls between people and makes it impossible to solve problems. And where does it come from? A lot of times, it's plain old pride. We see this playing out in families all the time, especially when it comes to money.

Think back to your own childhood. Did your parents ever talk openly about money? For a lot of us, the answer is no. It's like this taboo subject that nobody wants to touch. But that lack of communication can have serious consequences down the road.

I’ve made some bad financial decisions because I never learned about money growing up. I remember my daughter Sophia asked me point-blank one day how much I made! It was super awkward, and it just goes to show how uncomfortable we are talking about finances, even with the people closest to us.

This whole secrecy thing can create a ton of resentment, even in wealthy families. Parents might be afraid their kids will misuse the information or won't be able to handle it. But the truth is, by not talking about money, they're setting their kids up for failure. Those kids grow up with unhealthy relationships with money, and they may even end up resenting their parents, even if those parents are wealthy and provide for them. 

So, what's the alternative? Forgiveness. It's like the opposite of resentment. Instead of destroying your wealth, it builds it up. It's not always easy, especially when you have a good reason to be angry. But holding onto that anger is only going to hurt you in the long run.

I had a client who refused to take vacations because that's what their parents did. They were still carrying around that agreement from their childhood! It took a lot of work, but they finally realized that forgiveness was the key to moving forward. Deep inside, my client was resentful of her parents for living with a scarcity of menatility despite being wealthy. 

Now, I'm not saying that every piece of advice is going to resonate with everyone. That's totally fine. But if you're feeling weighed down by resentment, I encourage you to give forgiveness a try. It can do wonders for your health, your relationships, and yes, even your wealth.

I've got a personal story about this too. I was holding onto a grudge against a family member for years. It was eating me up inside. But eventually, I realized that my pride was getting in the way of my happiness. I forgave them, and it was like this huge weight was lifted off my shoulders.

The truth is, resentment can cost you big time. It can sabotage your career, your relationships, and your finances. I've seen people make terrible decisions because they were blinded by resentment. They lash out, they burn bridges, and they end up regretting it later.

So, how do you let go of resentment? It's not easy, but it starts with recognizing the problem. Once you see how much it's costing you, you can start to take steps to forgive. It might take time, it might take therapy, but it's worth it.

Remember, forgiveness isn't about letting the other person off the hook. It's about freeing yourself from the burden of anger and resentment. It's about choosing to move forward with your life and create a better future for yourself.

And that's what I want for all of you. So, if you're holding onto any resentment, I urge you to let it go. Forgive those who have wronged you, forgive yourself, and start building a life of true wealth and happiness.

Thanks for listening, and don't forget to follow the 𝑾𝒆𝒂𝒍𝒕𝒉 𝒊𝒏 𝒕𝒉𝒆 5𝒕𝒉 𝑫𝒊𝒎𝒆𝒏𝒔𝒊𝒐𝒏 podcast for more insights on how to build a better life!

Hey everyone, it's Joe Soto from the Wealth in the 5th Dimension podcast. I wanted to share some key takeaways from my latest episode that really hit home for me.

You see, I've been in the finance game for over 15 years now, and I've come to a realization that might surprise you:  financial success isn't just about investments and fancy strategies. It's actually way more about something much simpler: keeping promises.

I know, it sounds kinda out there, right? But hear me out.  

Over the years, I've seen countless people, even high earners, struggle financially. And you know what the common thread is? They haven't mastered the art of saving consistently. They fall into the trap of spending everything they make, living paycheck to paycheck, and ultimately, breaking promises to themselves about their financial future.

But it goes deeper than that.  Breaking promises, whether it's to yourself or to others, creates a ripple effect that impacts every area of your life, especially your finances. It erodes trust, creates stress, and leaves you feeling powerless. Think about it – when you consistently overspend and deplete your accounts, you're essentially breaking a promise to yourself to be financially responsible.

In this episode, I opened up about my own struggles with keeping promises, like the time I overpromised my family on our vlogging project without doing my due diligence on the tech side of things.  It was a humbling experience that highlighted the importance of following through on commitments, no matter how small.

So, what's the solution?  It starts with self-awareness. Take an honest look at your spending habits, identify areas where you can cut back, and make a commitment to saving consistently.  And beyond that, be mindful of the promises you make in all areas of your life.  Strive to be a person of your word, someone who follows through on commitments.

Trust me, the power of keeping promises is transformative. It builds trust, strengthens relationships, and ultimately, sets you on the path to achieving your goals, both financially and personally.

I encourage you to listen to the full episode and reflect on your own relationship with promises.  It might just be the key to unlocking a level of financial well-being and personal fulfillment you never thought possible.

Hey everyone, it's Joe Soto from Wealth in the Fifth Dimension! In this episode, I talked about how the words we use can seriously affect our families. I even shared some stuff about my own dad, who was an alcoholic, and how I used to think I was destined to have the same problems because of it.

But get this – I realized that it's not all about genetics or some "curse." It's actually about the way we talk to each other and the habits we pick up from our families. Crazy, right?

We all say things sometimes that aren't so nice, like calling people names or putting them down. And guess what? This can get passed down to our kids and even our grandkids! It can mess with their relationships and even affect their money or health. I even mentioned this woman who had a tough time with relationships because her parents always badmouthed men.

So, I want everyone to try and be more aware of what they say and try to make their families super positive. I came up with this four-step thing to help:

This helps us own up to our actions and use words that make people feel good, not bad. I ended by asking everyone to think about if their words are helping or hurting their families.

I think this episode is super important because it made me realize how much what I say can affect others. I want to be more careful with my words and make sure my family and friends always feel loved and supported.

Hey guys, welcome back to my podcast! Today I'm talking about how our parents influence us, especially when it comes to money. I've noticed as a wealth manager that sometimes people have trouble with money because of how they were raised. Like, if your parents never talked about money, you might not be good at handling it either.

I shared a story about how I didn't ask my own parents for advice before proposing to my wife because I knew their views on relationships weren't the best. It was awkward, but I had to break that "generational curse" and make my own choices.

We all have things we get from our parents – good and bad. It's important to focus on what we can control and try to change the bad stuff. Like, if you're always worried about money because your parents were, you need to figure out how to change that for yourself.

I want you to think about how your parents might be affecting your life, whether it's your health, relationships, or your money. What can you do to make things better?

Thanks for listening! Don't forget to follow and share the podcast if you liked it. I'll see you in the next episode!

In today's podcast, I talked about how to avoid burnout and build financial wealth by slowing down. I shared my own story of struggling to transition from work to family life, and how it negatively impacted my relationships and well-being. I explained that when we're constantly stressed and overworked, it's easy to neglect our families and other important aspects of our lives.
One of the key takeaways from the podcast is that it's important to be self-aware and mindful of our thoughts and actions. When we're able to recognize when we're feeling overwhelmed or stressed, we can take steps to address those feelings before they lead to burnout. I also emphasized the importance of setting boundaries between work and family life, and making time for activities that bring us joy and peace.
Another important point I discussed is the importance of prioritizing self-care. When we take care of ourselves, we're better able to show up for our loved ones and be productive in our work. This means making time for things like exercise, relaxation, and spending time in nature.
Overall, the message of the podcast is that it's possible to achieve a healthy work-life balance and build financial wealth without sacrificing our well-being. By slowing down, being mindful, and prioritizing self-care, we can create a more fulfilling and sustainable life.

Hey everyone, welcome to the podcast! Today, I'm talking about something super important: taking a moment before you react. It's like a superpower! You have more control over things than you think.
Let me tell you a story. I once met a guy who needed help with his money. Turns out, he'd made some terrible investment choices in the past. And guess what? He blamed everyone else for his problems! He even tried to tell me how to run my business.
That's when I realized something: the worst clients are the ones who blame others. You make your own choices, and you have to own the consequences.
Life throws curveballs at everyone. It's not about what happens to you, but how you react. That little moment between something happening and your reaction can change your future.
Trust me, I've messed up and run from my problems before. It cost me time, money, and a lot of heartache. But I've learned that there's a magical moment where you can choose to be strong or be a victim.
That's it for today. Remember, you have the power to choose your response.

"Hey everyone, this episode is all about appreciating the bonds we have with our family.

You know how sometimes you get so focused on your own goals, you forget about the people who matter most? I learned this the hard way when I injured my Achilles. It happened while I was trying to get super fit, but then my whole family got sick with COVID. Suddenly, my own little aches and pains seemed pretty insignificant.

This experience really made me realize how important it is to cherish the people you love.

But let's talk about the financial side of things too. You might think that financial planning is all about making money and saving for college or retirement. But it's actually way bigger than that. It's about making sure your family is taken care of, both emotionally and financially.

Think about it:

This episode is about shifting our perspective. It's about recognizing that investing in our families is the most important investment we can make. It's about open communication, understanding, and supporting each other through thick and thin.

I hope this episode gives you some food for thought. Remember, family is the foundation of everything."

Hey everyone! Have you ever thought about whether you have a financial plan or a family plan? I’ve spent the last 15 years helping people create financial plans, and let me tell you, they really do work. It’s like having a flight plan for an airplane. You set a destination, and even when turbulence hits, you keep your eyes on where you’re going.

But here’s the catch: many people have a solid financial plan but forget about their family plan. It’s like planning to make money but not planning to make your family thrive. Just like you need a financial plan, you absolutely need a family plan too!

Now, here’s a principle I want you to remember: don’t compare your family to others. You don’t know their story, and they don’t know yours. Comparing can steal your joy!

I’ll be honest—I don’t have a perfect family life. But I do have a vision of what I want for my family and what I want to avoid. Without a plan, things can go off track really fast. I’ve learned that having a financial plan is super important for financial security, and having a family plan is just as critical to protect that security.

So, what’s the main takeway? Create a plan for your finances and your family. Know where you’re going and remember that it’s not just about reaching the destination; it’s about how you travel there.

The lesson here is that financial plans work because they start with the end goal in mind. This helps you prepare for the good times and the bad ones, so when challenges come, you’re ready.

Most families are a little off track most of the time, and that’s totally fine—as long as you know how to get back on track in a kind and loving way.

So, I want to ask you: Are you off track with your finances? Do you have a plan? What about your family—do you have a vision for where you want to go?

Don’t forget to follow the podcast while it’s free—there’s so much more to come!