0:08 good afternoon and welcome to sorry my computer is going wild good afternoon and welcome to the kickoff episode of season four of the way to wow show people making money as always I am your host Kevin bemel and uh for those of you who are watching the show at the end of last year what we uh replayed a couple of episodes uh previously recorded I hope you enjoyed those and now for uh 2023 we are back to
0:43 live broadcasts and we're gonna start the year off with a topic that I suspect may be on your mind um for those of you who are you know super diligent and you know a little ocpd like me you may have already worked on this last month the end of December for this for this year um but if not um it's not too late to set your goals for for 2023 as a side note I have to say I I find the year 2023 to be where
1:21 it's a it's a prime year right because it's not divisible by anything you know ending in 23 I don't know why I find that strange but I do in any event we're going to talk about how to effectively set goals and um you know there's there's just a couple maybe three things to keep in mind it doesn't have to be a laborious process and it doesn't have to be a daunting process either but it is I think an important thing to do in order
1:57 for us to achieve professional success as well as success in the other areas of our lives so um you know people say don't have a you know background with a lot of stuff on it when you're on zoom and yet you know behind me I have all these things here and the reason is I'm going to talk this is all part of not just goal setting but also goal achieving which is perhaps the more important part of of the combination it's all good and well
2:32 to have goals but we really want to achieve them and how do we do that uh effectively how how do we set goals that will stretch us but still are realistic and and something that we believe we have a chance of achieving so I'm going to talk about several things drawing on information from other people that I've learned from Over the decades you know um and uh hopefully you will you will find this useful for for your own work
3:09 so I I think the first thing to be aware of is goals are not set in stone okay one of the one of the mistakes I made early on is I would set goals and then if I didn't meet a goal I would be just really angry with myself and and a lot of times what happened was the goal was just it was just too big when I first started in business you know at the ripe
3:45 old age of 26 right I set a goal to make seven million dollars I think in four years or something like that I mean it would you know given where I was coming from and what my skill level was it was wildly overly optimistic to say the least and and so and yet you know when I didn't make it I was like oh so I've got to have you know I'll never I'll never have a you know completed goal list it's like that's not how it works you know if we don't if we don't achieve a goal in a
4:21 particular time frame what we need to do is review that goal and decide is it still relevant to my life number one I've found over the years sometimes I've set a goal and when I and when I haven't reached it when I really examine the goal I realized well the reason I didn't reach it was because it's really just not an important aspect of my life at this point so okay so then drop that goal work on something that is more relevant to obtaining the kind of life you want to have and the second is if it's still relevant
4:57 so then why did I fall short was it just an inadequate time frame so I shouldn't have said I could do this in a month when it's going to take three months six months a year five years whatever it is or am I lacking some kind of skill in order to attain the goal or you know did I procrastinate and just never really do the work that was necessary to attain the goal and and by the way if your answer is that third one that's an important indicator that
5:32 perhaps the goal is not as relevant to your life as you think it is okay now by the way it could also be you lacks skills or your your or you're just daunted by the prospect of what you need to do those can all be factors okay but the relevancy factor is I think something that we don't always consider sometimes we set goals because we think well I've just I've I've just I've got to do this um and the reality is we can waste a lot of time that way a lot of time and effort and so what I've learned over the years
6:09 is to shrink down the number of goals that I have so that they really focus on what I actually need to achieve to create the life that I want to live and it's going to take some practice to get there if you're not very experienced in goal setting so so don't worry about it like everything else goal setting is a skill it takes time to learn it it takes time to get comfortable with it after a while you'll get you'll get better and better at it I set I actually
6:44 set my goals for 2023 took me I think couple of hours working on it last week the reason is because going in I already knew a lot of what I had to be working on this year to be successful so then it really just came down to dealing with the various aspects of setting a a goal properly okay so so we'll start out there the second thing is and and this I'm borrowing from one of the great motivational speakers of
7:19 all time Zig Ziglar he's Zig Ziglar used to talk about going up goals and giving up goals and and I I really I love the way he it's so simple so there's two things we can do in our lives that will make them better we can give certain things up we can achieve more okay and by the way I I think when we think about goals we think about achieving things so we think about the going up goals and we forget about the given up goals
7:57 okay but for especially for our health oftentimes the given up goals are as important as the going up goals okay so I I you know highly recommend keep both of those in mind okay and and as you develop your goals okay make sure that you're covering both bases okay now by the way let me just say that my a lot of my give up goals
8:33 I've turned into go up goals in other words I'm working to replace a negative behavior with a positive behavior okay so it's all good and well to say I'm gonna give up whatever it is I'm going to give up eating too much sugar okay good so you could say well I'm not gonna eat any more candy or whatever that is is that realistic for me I was when I was working with a health coach she's he's you know and I wanted to
9:08 um reduce my weight and and he said well what do you eat so I talked to him about breakfast I said well breakfast I have an apple I usually have cereal and milk and then I have some chocolate and he's like well you got to give up the chocolate and I'm like no I like it too much okay what I decided to do was rather than give up chocolate was to change the chocolate that I ate and and really get into the nutritional aspects of it so that so that the chocolate that I'm eating I mean it still has some sugar in
9:43 it of course um but it's it's it's it's much more higher it's much higher quality and and so I can justify it on on a nutritional basis isn't that great right and also I just eat less of it that's what I ended up doing right so a a give up goal doesn't always have to be uh put in the context of literally stopping something it can also be put in the context of replacing a behavior or changing a behavior so it becomes a more positive thing or at least a less
10:18 negative thing okay so give up goals go up goals keep both of those in mind now the most recent um I'm going to call it an innovation although maybe that's not quite the right term that I've brought to my goal setting I learned from a friend of mine by the name of Jeffrey Hazlett so Jeffrey is one of the most well-known people that I know I he's he's really a celebrity in the business World um if you know of c-suite networks that's Jeffrey uh founded that company
10:55 and there are obviously there were lots of other people involved so I I don't remember how exactly it came up I don't think it was a one-on-one conversation I think I was in a a group meeting with some other people with with Jeffrey and he said to me or he said to the group I don't set goals I set conditions of satisfaction and with due respect to Jeffrey the first time I heard that I'm kind of like well that's a load of you know what
11:30 comes out of the rear end of a cow you know and I will say that I'm very grateful though that the concepts stuck with me and and you know Jeffrey talked about it on more than one occasion and I started to think about it more and more because one of the things that bothered me about my goals is there's a certain I don't know almost static-ness to goals right so
12:05 let's say that we we want to um uh okay so let's let's say we have a net worth goal okay so let's say just to pick a number you want to be a millionaire okay so so your goal is to have a net worth of a million dollars okay and you and you set that as let's just say a 10-year goal okay and 10 years comes along and and bang hey you made the goal you got a million bucks okay and then the next year the market tanks and all of a sudden you're at 750.
12:42 did you make the goal well I guess you made it the previous year do you need to have the goal again because now the value of your net worth has dropped so you're you don't have a million how does that work and that was that was one of the issues that I really struggled with is when I would meet a goal but then something would happen later on that essentially negated my having met the goal and I realized that this idea of
13:17 conditions of satisfaction in other words the aspects of the aspects that we're working on to give us the life we want to live this idea of con conditions of satisfaction much better describes our long-term what we what I used to call long-term goals okay and and the reality is I don't have long-term goals anymore I only have conditions of satisfaction and in fact if if you look at this right
13:53 here this is a you know an Excel spreadsheet that I do this with so right here see these right here these are my conditions of satisfaction this if this is what I'm working toward always in order to live the life that I want to live now by the way you'll notice the colors right blue red and green and oh blue red and green right they relate to the three pillars of attainment so when I look at the three pillars the nine Realms and if you were to look at these you would see that there are conditions
14:29 of satisfaction that relate to each of the nine Realms that's how they work together okay some of the conditions of satisfaction I pretty much meet okay uh and and you would say well so so you know what well so you could say okay so those are the parts of your life that are working yes I I think that's that would be a you know reasonable conclusion to draw there are other conditions of satisfaction that I'm I'm not even close to meeting
15:04 yet and so those are the areas on which I need to Focus time in order to get there okay so let me give you let me give you an idea of of one of my conditions of satisfaction okay and then we'll get into the actual you know goal setting how did I come up with all this stuff okay so um for those of you who happen to follow me on Twitter you may have seen this I think it was yesterday or the day before my friend Dr um Bruce all of a sudden I went up on
15:39 his first name um Is It Michael Michael Bruce okay he's a one of the top sleep specialists he posted something about your sleep my sleep goal for this year so My Sleep goal has not changed in the last two or three years um and it's an outgrowth of having worked with with Michael in order to understand what what is what is good sleep right and so um I I have an order array okay this is this is not a wedding ring people use I I thought you're divorced but are you still wearing a ready wedding ring no no this this is an
16:16 Ura ring okay and you know free plug I have no stock or any financial interest in aura great tool it's it's absolutely fantastic tool okay I I you know turn my friend uh Bill gross onto it Bill loves it uh Michael Bruce got to test it um early on and and you know as as like I said as he's he's one of only 187 I think sleep specialists in the world with a with a level of credentials that he has so that's how rigorously it was vetted Okay so
16:52 so for my um my condition of satisfaction for sleep is um sleep for at least seven hours a night of course with a score meaning an aura sleep score of at least 85. Okay so what does that mean for an adult my age seven hours of actual sleep not seven hours of being in bed that's different because I'll generally speaking I need
17:29 to be in bed laying down lights off you know trying to sleep for at least eight hours in order to get a little over seven hours of actual being asleep time okay so and and that's you know now by the way my daughter who's a teenager and this is true of teenagers in general they need eight to ten hours of sleep okay so if I were a quarter of my actual age if only right for all of us well maybe
18:05 not some people don't want to go back to being young um there's a great uh um Marie Chevalier he sings a great song of I don't want to be young anymore right um so I don't really want to be a quarter of my age but if I were this would not be an appropriate condition of satisfaction for me it's not enough sleep so I'd have to say a minimum of eight hours or maybe nine hours you know depends on what it appears my body needs but for my purposes seven hours seems seems to work pretty well okay and then
18:41 a sleep score of 85 so on for on the aura ring the Sleep score is a scale of basically one to a hundred I've never gotten a hundredth okay I have gotten in the 90s on occasion the the minimum for uh a a you know sleep Excellence if you will is 85 okay so that's why I set it at 85 so I know if I'm getting 85 or above I'll see a little I think it's like a little star or something by my sleep score and that means okay good that means the quality
19:16 of my sleep along with the quantity rates that score okay and and there's a minimum score I think of 70 to be in the realm of your sleep was reasonably good or something like that okay and and that's what I track so I don't have my tracking on this one I track I track elsewhere so each month I'm sorry each each day I put into my tracking for the previous day so I know what how close I'm getting to my um condition of satisfaction and I I
19:53 posted some data on Twitter that's why I mentioned it because um Michael asked me uh you know what is your voice is how how close are you coming to it um and basically around 70 of the time on average I'm meeting that standard of seven hours a night with a minimum sleep score of 85 and another 20 of the time or so I'm meeting one or the other in other words I can get seven hours of sleep but for some reason the Sleep score is only 83 or I'm
20:28 getting a sleep score of let's say 87 but I actually only got 6 hours and 45 minutes of sleep so combined I'm at about 90 percent okay and the comment I made when I posted the data was I honestly don't shoot for a hundred percent because I think the stress of trying to meet a condition of satisfaction a hundred percent of the time is generates greater stress than having a reasonable uh compliance metric if you will okay so my compliance metric is I
21:03 want to get an A in sleep so how do you do that well minimum score is 90 okay that that's kind of how I look at it now again these are just the standards I I set for myself I I found that this works for me um and it it gives me the motivation to do well without creating the the back you know it's so big a backlash when I don't measure up that it puts me off my game for me that that's the balance I'm looking to strike okay so that that's and I and and you
21:38 know like I said the problem with having that as a goal is okay all right so I if I set my goal this is a goal I have this year okay then okay next year do I want to improve it or I mean it just it just doesn't make sense the context of goal setting for Sleep doesn't really make sense so Jeffrey's concept of a condition of satisfaction fits absolutely right for this kind of situation where it's something I'm doing for the long run of my life okay I've got another goal about
22:14 um interacting with with my daughter in other words building our relationship okay that's a condition of satisfaction I also have conditions of satisfaction related to my uh Financial life okay and um you know some people I just want to keep making money and keep making money and keep making money and God bless them if that's what they want to do have at it for me I want to get to a certain level once I'm at that level done you know obviously I want to maintain that level but you know there you know I don't want to making
22:51 money is not for me the only thing I want to do with my life and in fact for me making money is a byproduct of of helping people so um everything I do professionally is built around the idea of helping other people um helping other people live better lives okay so those are my conditions of satisfaction can you see those there now I do still set goals for me the only goals I set at least right now
23:27 are professional goals on the words interim steps that will help me get to the level of condition of satisfaction okay because I I need to know what are those interim steps okay for many of my conditions of satisfaction they're really about creating healthy habits right so I used to have a number of goals that basically said habitualize the following for that used to be my sleep goal habitualize sleeping
24:04 seven hours a night with a sleep score of 85 okay and yeah okay and and that and that's going to be my goal every year and I that's why that that's part of the way I came to the realization that Jeffrey was so right about conditions of satisfaction this is just a goal it's it's a Perpetual goal not really a long-range goal okay that's what conditions of satisfaction are like Perpetual it's it's always the goal okay and once I get up to that level I don't need to worry about going to a higher level and a higher level it's like if I if I'm at
24:39 this level great and and if I can habitualize being at that level even better and now I can take you know my brain time my my you know time time and I can focus it on bringing myself up to the level on on other conditions of satisfaction that that's how I work these things okay so um I I no longer have five-year 10-year you know 20 30-year goals okay what I have are
25:14 one-year goals okay and and I also have um aspects within the conditions of satisfaction that allow me to keep continue to meet the condition of satisfaction so for example one of my conditions of satisfaction is to do a little bit of um what's what's you know broadly called scripture study in Judaism we call it tourist study to to do that every day basically okay so right now um I'm studying something called the
25:49 gemara I'm about uh 2 000 plus uh what are called well forget the Hebrew word but about 2 000 plus Pages through a 2700 plus page set of books okay and it's going to take me whatever it's going to take me so um you know and originally I said Okay I want to have this done in whatever it was 14 years or what what I found is that incentivizes me to move through it rather than enjoy it and absorb it which is really the point of studying scripture right it's it's it's to learn
26:26 and and use it to um you know make our lives better make us better people Etc okay so so that's why again I can I converted it to a condition of satisfaction so I do my daily Taurus study okay and right now it's it's focused on learning the gemara and once that's done I do have other things that I'm going to study okay and I'll know you know this next thing that may take me whatever five years to get through ten years whatever that is but it doesn't matter what matters is the the daily engagement with scripture
27:04 um as I work to um you know improve my relationship with God okay so um again the idea of conditions of satisfaction it's it's essentially Perpetual goals things that in many cases we're trying to habituate and and that that greatly simplifies annual goal setting because these for the most part aren't going to change or if they do okay so that you know they're gonna they're gonna more evolve than change okay and so once the first
27:39 step in my goal setting uh that I did last week was to review these my conditions of satisfaction say do I need to make any changes here okay now by the way um I I well this was now going back two years when um you know my marriage broke up um I I used to have a condition of satisfaction related to my marriage I had to drop that and there was no reason to wait till the end of the year to do that okay so I just dropped it at the point where I realized the marriage
28:15 was not going to continue okay so um you know I don't the other nice thing about conditions of satisfaction is you don't need to wait till the end of the year or to whatever your your goal setting point of time is you can modify them as your life changes to more closely identify the life that you want to live and that's that's the other thing I really love about conditions of satisfaction because sometimes things will happen in our lives they're going to change what a
28:52 successful life looks to looks like to us and sometimes those changes aren't driven by us they're driven by outside forces like you know my marriage ending it wasn't wasn't my just what wasn't my choice but it it ended so um condition of satisfaction had to change okay and so I did all right um okay so step number one in effective goal setting is review your conditions of satisfaction okay now if you don't have them okay so then you'll you will have to build them
29:28 okay and what I recommend that's why I I love the the three pillars of attainment is it gives you the nine Realms where you should have I I think to live uh a a a a a you know a life well lived as as they say we probably want to have at least one condition of satisfaction around each one of the nine realms okay and and by the way you'll see here I've got four in the blue because I've got more than one um with regard to to health
30:06 um and um um I have three four relationship relationships okay one for each one and I have one two three four five six seven I have seven for Pursuits okay because I've got several uh financial goals relating to personal and business uh my personal and business lives okay and then um I've got uh I think two for play no one for play run for play two I forget um yeah no I've got uh actually I've got I
30:42 think yeah one or two for play a couple for Learning and uh you know I think three for finances or whatever it is okay so you can have more than one of course um but I recommend you do have at least one now by the way with finances I think you're inevitably gonna need two one what is what is my what is the net worth I want to have how much wealth do I want to create and two what kind of annual income do I want to um you know generate now you might say well wait a minute if I know what kind
31:17 of annual income I want to generate I know how much wealth I want to have um because I'll need enough to sustain that income level and perhaps and that's something for you to discuss you know with you with your financial uh advisor but it may be that um at the point where you meet your wealth goal you'll at that point maybe you're going to retire and then your your income goal may change because your financial picture will be very different at that point okay so um I I do recommend you have an income
31:53 condition of satisfaction and a wealth condition of satisfaction or a net worth condition of satisfaction okay so maybe you need to have a minimum of 10 in order to to do all that okay all right so first start with your conditions of satisfaction okay and by the way if if you want any help with any of this um you know my contact information is in the show notes feel free to contact me there you can always post something on Facebook you can post something on Twitter LinkedIn whatever
32:28 if you think it's something that a question that other people will benefit from if it's personal obviously you know I'm not asking you to post it personally you can send me an email you can DM me whatever you you want to do it wherever you have questions and and if we need to have a you know short time to speak what I'll do is I'll end up sending you a link to my calendar and you'll schedule a time at your convenience and we'll talk and you know work it out and and you'll get hopefully you'll get the help that you need in order to you know make this all come together okay because we're going to talk about this for an hour but that may not be enough time to
33:04 for you to you know actually get it all together in a way that you're you're able to perform this function hopefully yes but maybe not okay all right so again I'm repeating myself over and over and over again right effective teaching see it hear it all that kind of stuff right so create your conditions of satisfaction first this is this is what will give me the life that I consider well lived the life that I want to live okay that's that's step number one step number two then is to create short-term goals
33:40 that are interim steps to getting here okay and I've got I want to say seven goal professional goals this year for 2023 and they're all exactly an outgrowth of my my conditions of satisfaction as it relates to the business activities in which I'm involved okay and so that's what made it so simple was okay I know where I want to go I know how I'm working on to get there
34:18 okay so what do I need to be doing this year to get there and I just I just broke it down okay and I've got some goals that I need to to accomplish by the end of the first quarter of of 2023 and and they're you know they're I think they're pretty straightforward shouldn't have any trouble Meeting those it's it's really just part of it is the timing is not completely within my control because it's you know dealing with outside um organizations and that sort of stuff and and I don't I don't control how fast they they they move it was it was a lesson I learned last year so I didn't
34:55 achieve all of my goals from last year I came up short on on a couple okay and one of the reasons was I didn't realize how much lead time I needed to accomplish one of the major goals that I set so I only accomplished half of it not all of it now that I understand the lead time I I think you know I've set a realistic goal for this year and I'll and I'll have that goal done by you know the end of March and and maybe sooner than that by the way it could be done by the end of February and that's one of the things about goal setting you know rather than
35:30 get all upset oh I didn't make the goals like okay there was information I didn't understand so I I took the part that I didn't make held that and brought that over so instead of it taking me 12 months to complete it it's going to take me 14 or 15 months you know there are bigger tragedies happening in in the world okay um and and then there were there there's another goal I think it's it's uh you know set to be completed by the end of the second quarter and then I think the rest of them are are you know year-long goals and and uh you know because of of
36:06 their scope okay so so the Second Step then is to come up with the annual goals you need to me to achieve retain in order to get you the next step closer to your conditions of satisfaction okay and now that can be a little bit difficult this sort of what I call chunking down process so if if for example let's let's say you know your condition of satisfaction uh
36:42 we'll use the example I used a few minutes ago I want to have a million dollar net worth okay which by the way puts you in like the top I saw it the other day I think the top four percent of people of net worth in America isn't that wild a million bucks it just it just doesn't seem that much money these days when we talk about you know a federal government budget where they're you know appropriating trillions of dollars and everything seems to be in billions I was commenting to somebody I know I'm digressing but it it's just the the
37:17 figures we deal with in money these days just are are they just seem so crazy everything's billions of dollars both in business and in you know in government um still according to the data I found for for last year you know to have if you have a million dollar net worth you're in you're above the top five percent are you within the you know five percent only five percent of um I don't know if it's people or families have a million dollar net worth isn't that just mind-blowing on some level I mean
37:52 okay and and so um but anyway so let's say that's that's your condition of satisfaction million dollar net worth Okay so assuming at the moment let's say you're just you're starting at zero okay so can you get there in a year I don't know it depends what you're doing right but but realistically probably not okay especially if you're just starting out you you know you're probably not gonna make a million because keep in mind a
38:27 million dollars it means you you're gonna have to earn every dollar of that on top of what it takes you to live all right so if it takes if you if it costs you sixty thousand dollars a year to to live well that means that you've got to generate income of after by the way after tax income of one million sixty thousand dollars and then so add the tax burden on top you're probably talking what a a million three a million four so so that after tax you
39:03 still have that million you see what I'm saying so it's probably a bridge too far to to do it in a year but it may be perfectly doable in five years okay if you're making couple hundred thousand dollars a year well not a couple hundred thousand but let's say you're making um 200 let's say you're making 275 000 a year okay and you live a modest life for that income so you could conceivably have a million dollars at the end of five years okay
39:39 um between the money that you've earned and then if it's invested well the growth that you get from the Investments you you could do that okay um so but let's let's just say Okay so that's that's what I saw I want a million dollar net worth in five years okay now are you gonna do it evenly each year probably not you're probably gonna need to ramp up okay but and by the way let's just say right now you're making I don't know sixty thousand dollars a year but you're
40:14 in a job where you think you have really good income growth opportunity so maybe you think in five years hey I'm gonna be making 350 000 dollars okay so based on your income growth your net worth will grow ever faster right this is where having short term one-year goals comes into play so what do you need to do in order to build up your income so that
40:49 you have the additional money that you can sock away invest whatever um to build up that net worth that's what your annual goals should be about then so let's just say you're starting at you know absolute zero I don't mean absolute zero like absolute zero temperature whatever it is you know zero Kelvin or something I mean you're let's say you you know you're gonna be let's say you graduated from college in the fall this past fall and you've been job hunting for the last few months okay so and and and and you know perhaps
41:28 your goal maybe your goal was to you know have a job by the end of last year and you've got that okay so here you are you know January well I guess was in second that was a holiday January 3rd Tuesday you started working yesterday okay so where do you want to be at the end of this year income wise and savings or net worth wise that's an interim goal and you want to know what that is so you and if and now maybe you have a set salary
42:04 so then it doesn't that doesn't matter but maybe you have some kind of incentive or maybe you're working on commission or something like that and the heart so the harder you work the more you can earn okay so then you need to set that income goal so you know what it is you want to be realistic okay if the average first year sales person in your organization makes I don't know sixty thousand dollars is it realistic for you to say oh but me I'm gonna make two hundred thousand
42:39 dollars is that realistic has anybody ever done that in your organization did they do it without subsequently putting themselves in the hospital you know what I'm saying so you know look into those kind of things and say you know am I going to beat the average or you know given that everybody seems to feel that times are going to be kind of tough this year would making the average actually be good performance okay talk to your supervisor about it
43:14 what do they have to say what what do they have to say about what would be a worthwhile goal presumably they have experience working with new people and helping them achieve those goals so especially for this is one of the things Zig Ziglar used to talk about for go up goals okay you want to be careful who you speak to because a lot of people will poo poo it oh you're gonna make a hundred thousand dollars this year oh come on nobody in our family has ever done that all right so be careful give up goals people are you know they're they're having I'm gonna give up smoking
43:50 this year and you tell everybody that because then anybody sees I I thought you were giving up smoking if they see you you know lighting up or whatever okay but for go up goals you do want to be somewhat careful about with whom you share them but certainly the person you report to at work I I would I would recommend you talk to that person because they're the they're going to be the first person you go to to get help in achieving that goal okay so so talk to them and and set a realistic number okay and then maybe push it just a little bit maybe you only want to push
44:26 it five percent for the first year and if you if you could get the average plus five percent so 63 000 instead of 60. that's probably that may be a great performance for 2023. or or maybe you want to push it ten percent sixty six thousand okay whatever that is okay and now you know what your target is okay and then I'll talk about how to chunk it down from there in a minute okay and then from there you can figure okay what should what should my net worth goal be for the end of this year now you might say look I live in a Play If I Could Make sixty three thousand
45:03 dollars that means I can live you know just a reasonably comfortable life like here in La for a single person to make sixty three thousand dollars I think you're just you know you're just probably barely going to be making it you're not going to have excess money right so you know you may say uh I I don't know how I'm going to build my net worth well get started even if all you do is set aside 25 or 50 a month
45:39 to start your you know rainy day fund at least do that do some minimal amount for your net worth goal right away okay maybe you'll set up an IRA or something like that that again that's something to talk to your financial advisor about how you're going to structure all that um but however you're going to do it just get started even if it's just a minimal amount okay even if you have to give up your Starbucks a couple of days a week or whatever whatever it is let's let's see
46:14 uh 25 bucks a month you'd have to give up your Starbucks maybe what once or twice a week because they're about what five six dollars so if you give up one Starbucks a week five dollars times four that's about twenty dollars or five you know six dollars times four twenty four dollars you see them saying kind of work that on your head and and and you know honestly you can feel a little bit virtuous okay so um on I don't know Thursday I'm not gonna get my Starbucks because that's what's gonna get me to my net worth goal for this year how good am I right and I
46:49 it's not egotistical it's it's just you know giving yourself a pat on the back I'm giving something up for my long-range well-being okay well done really seriously well done right if you keep doing that you keep growing it a little bit you're gonna be great okay so so you know maybe your net worth goal for this year is only going to be 50 bucks a month um six hundred dollars okay but that's six hundred dollars you didn't have set aside you know at the end of last year so good you're on your way and you'll
47:27 figure it out more for next year okay now one of the things you say well wait a minute if I'm only going to save 600 of my first year then I gotta make up all of that over the next four years to meet my million dollar you know net worth goal well so maybe five the five year time frame is not realistic or maybe you know second year um average second year income for someone at your company is double first year so now you're gonna make 120 000 next year which means you can set a lot aside and maybe it doubles again the
48:02 third year so now you're making 360. now wow you're really socking it away and maybe year four people are in general making I don't know half a million dollars a year you've seen him say it depends how how things might scale up for what you're doing okay now if you're in a a a business or an industry where you don't have that kind of growth potential in your income so then to meet that net worth goal it's probably going to take longer so maybe it's going to take you 10 years 20 years okay fine look you know if you if if you're
48:37 doing the work that you want to do the work that you enjoy that gives you satisfaction fulfillment um then presumably and hopefully anyway not presumably but hopefully you chose it knowing that if wealth accumulation is also important to you that it will and and you're in a you know a a job or you're in a business that it you know doesn't have huge income potential so hopefully you work that into your at least mental calculations about how long it's going to take you to build up
49:12 to your net worth figure okay nothing wrong with that nothing wrong with that at all and and you know forget all these stories you hear about oh this guy made you know 100 million dollars in three years very very very few people do that okay very few right and and some of them do it like you know this guy what is it Brinkmann freed or whatever his name is right it's and it's all it's all just a house of cards so I I I highly recommend you just
49:48 just ignore all that stuff okay set your life the way that you want to live it not the way other people are living theirs or the way other people want you to live yours your parents may have put expectations on you about how you should live your life okay in fact I just saw a fairly cute movie based on that yesterday but last night I was watching it and the neat thing about the movie was in the end the woman realized
50:23 I don't want to live the life that my parents have mapped out for me right great decision by the way almost for sure she's going to be much much happier as a result okay and that's that's what these tools are for that's what the the three pillars of attainment are for I'm I'm messing up my my um you know um image here that's what figuring out your conditions of satisfaction are for okay and by the way you may be wondering what is this up here this is my identity
50:59 statement so from the three pillars of attainment I created a statement of my identity which is my purpose and my mission well my mission and my submissions submissions not my submissions okay and then from there I created my conditions of satisfaction okay at all just think okay and you can do all this too and it's it's a it's a working living document now why do I have it up on the wall it's so that I can see it you know through the day sometimes I you know we
51:36 all do we're working on something it's like oh God this is just not going the way I thought it would or this is taking forever this is so boring right and I I can turn to this and go okay why am I doing this because this is who I am or who I want to be okay and then so um and the reason I said at the very beginning we just have a few minutes left I want to talk about what I built here in my you know my office so all of each of one of these images is here to reinforce my uh getting to my
52:12 conditions of satisfaction and or one of my short-term goals okay so this is all business related stuff this is my my business plan basically see here's here's the show right the way to wow and this is the cover of my book um you know for those of you who watched other shows this this is the book that I take a lot of the information from okay and these are just some this is just some notes on that I I pass along to people uh frequently when I talk to them and then these These are the you know
52:48 various licenses that that I that I need in order to practice certain parts of my business okay and then so then these two panels right here are just images of what my life's about Okay so one of my goals is to join the century Travelers club now by the way this has nothing to do with the mile high club at all okay I'm so pleased don't like the guy's a rabbi he wants to do a lot anyway no no no not at all so the century Travelers
53:24 Club is a club of people who have traveled to at least 100 countries in the world okay and they have a very specific list okay so this this map just shows me my progress so you can see I've been to you know most of North America um some countries in Europe you know Japan and Thailand and Hong you Hong Kong you can't see it's too small but it's there you know um you know and and uh you know hopefully um you know at some point I'll get to you know do more travel some of this was
54:00 you know as a result of being in the Navy of course right um this this is a picture of Carnegie Hall it it it's it reminds me of you know my desire to become um a better musician right I'm the I like the idea of you know playing Carnegie Hall although candidly it is not my goal to play Carnegie Hall it's just there for inspiration um and uh this is just a house that I thought was beautiful it really kind of expresses and you know eventually maybe I'll you know get a bigger house and then this is all about relationships okay this this buoys
54:37 um right here uh uh family uh sorry family friends and God okay and that's that's all this stuff here so this is a poem that my mother read to me uh for my bar mitzvah when I was 13. it's it if it's by Rudyard Kipling um the picture of me and my my dad and me my daughter Etc et cetera et cetera these different things that different people have given me um you know little things like that and then over here is is uh something that was given to me by some people in the Navy um who appreciated how I had uh helped them so it kind of reminds me of that
55:12 you know time in my life okay so all these images and such and and there's there's a name for and I can't think of what it's called now um my my friend um Leia um she has a board with images on it that inspires her there and there's a name for that and I'm sorry I can't remember what it is but anyway this is my equivalent of of that board okay and I think it's a really good thing to do because it's one thing to set out your conditions of satisfaction in writing it's another thing to have your goals in
55:49 in writing and by the way you it's not a goal if it's not written down and it's not a goal if it doesn't have a time limit conditions of satisfaction don't necessarily have to have time limits because many times they're Perpetual meaning this is a constant you know goal in my life if you will so I'm always working to meet this particular objective it never it never varies through my life okay but goals goal goals especially short-term goals that's why I said you know some are the the you know the deadline is March 31st others it's I think June 30th and then
56:24 others are it's you know December 31st so there's got to be a goal it's got to be in writing um if you've ever heard the acronym smart Okay smart goals um each of s-m-a-r-t stand for one aspect of setting a proper goal I'll put a link to that in the show notes because I don't want to get into smart I've written a blog post on it if you want to go to my blog many of you may be familiar with the concept of smart goals I think I think there's a lot of validity to that concept um it's it's more of the details of how
57:01 you document your goals which isn't what I wanted to cover today and and you can just you'll be able to read about smart goals and again if you have any questions about that if you're struggling to develop all five of those aspects of your goals feel free to get in touch with me and I'll be happy to help you out with that um and and and and and and and that's you know that's really the you know the extent of it so let's let's summarize here in the last couple of minutes we have uh before the show ends and that is
57:38 don't well make this as pleasurable a process as you can do your best to set yourself up for success okay just first of all block out some time a couple of hours where you won't get distracted maybe play some music that you like that you find inspiring think about the three three pillars of attainment the nine realms set a condition of satisfaction for each
58:14 one what what does my life look like okay and then from there think about what interim steps do I need to make to reach any of these okay now there's probably for almost for sure going to be interim steps to meeting your financial goals there may be interim steps to meeting some of the others could be I used to have you know goals in all of the all of the Realms I've since worked through to the point where in um these two Realms I think I'm I'm you know pretty solid and I'm just
58:49 working on habitual habituating certain behaviors etc etc and so for me now my short-term goals my goal goals are are really finances related um as as opposed to anything else okay so that's that's what I've got for you today I I cannot encourage you strongly enough to set goals is they will help you get where you want to go go there is a philosophy oh goals are counterproductive I I don't I don't buy that philosophy I
59:24 I don't know how you get to where you're going without knowing where that is Okay so if you know some people I guess want to live their lives very serendipitously and that's fine this is not a criticism of them or anything like that but I think most of us we have a certain image in our head about the life that we want to leave what a life well lived looks like and in order to get there we need to go through the process of figuring out what it is writing it down so that then we can take action steps
59:59 that'll get us closer and closer and closer okay and with that I'm going to say I hope you will make watching the way to wow show people making money a habit there's there's something you can habituate right every Wednesday at 12 30 Pacific Time 3 30 p.m Eastern Time an hour in from each to each of the other time zones mountain and Central and that just leaves me to say Marie you inspired me much of what this is
60:34 about was impacted by by you and and the time we got to spend together and so with that in mind just reminding you darling you are still my Belle thank you very much for joining me and I hope to see you again next week all the best