Financial Hero

Teepees and Financial Freedom

I met an interesting character last Thursday night.   He was debt-free and loving life.   I asked him how he did it, and his response was both HILARIOUS and thought-provoking.

He said that he lived a horrible financial life for his first thirty years of life and decided that it was not working for him.   So he got rid of everything and moved into a teepee.   He lived in the teepee for two years.   Then he bought land – with cash.   On that land, he built a barn with two rooms to live in, but he had to haul water in because he did not have plumbing.   Now, he has a nice small home built on the land and is living his dream.

Oh yeah, his wife went along with all of this.   Talk about taking the core principle of working together to an entirely new level!

As I have said so many times, when you truly have an IHHE Moment (I Have Had Enough Moment), you will stop at nothing to change your situation.

Too many people are just unwilling to take the steps necessary for them to achieve financial freedom.   In this man’s own words, he said that he had people who lived in incredible homes with mountains of debt who made fun of him the entire time he lived in the teepee and the barn without running water.   They could not believe he was living that way.   He said, “Nobody is laughing now!”

Roll with it – this man is one of my new financial heroes!

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Learning From John Maxwell Brian Tome and Rick Campbell

Today, I had the unbelievable privilege to speak at the Stewardship Challenge hosted by Crossroads Church (Pastor Brian Tome).  I was the mule invited to the Kentucky Derby.  The line-up was:

  • Rick Campbell (Injoy Stewardship Solutions)
  • John Maxwell (EQUIP, Author, Leader's Leader, INJOY, 16,000,000 books sold (true statement))
  • Brian Tome (Pastor of Crossroads – unbelievable church, author, passionate leader, influencer)
  • Me.

So what did I do?  I took advantage of the opportunity to LEARN!  I LOVE LEARNING!  I scribbled notes so fast that the pen made a huge dent in the side of my finger (has that ever happened to you? – it is weird!).

Here are some outstanding nuggets I learned from John:

  • Am I willing to pay the price for my dream?
  • In the beginning, dreams are free.  That's why we love them so much!
  • The only way some people could get excited is if they could get away from themselves.
  • John confirmed his retirement plans: when he dies
  • When he stopped pursuing vision, the resources stopped.

Here are some outstanding nuggets I learned from Brian:

  • Vision is recession-proof!
  • Develop a culture.  Don't raise a budget.
  • Passionate about FREE.  Give away everything.  (Crossroads has their atrium open all day long with free wi-fi, fountain drinks, coffee, and other outstanding amenities)

Here are some oustanding nuggets I learned from Rick:

  • Be strong and courageous
  • Be strong and very courageous
  • I will share the rest in a later post – awesome devotional to start the day

A great day!

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I want you to be 100% debt-free

Anyone who has read this blog knows clearly that I want you to be debt-free – including the mortgage!

Think about that for a minute …  Debt-free INCLUDING the house.  How much money goes out to pay debt and the house every month?  For the average family it is somewhere between $1,000 and $3,000 every month!  What would you do with that money if it did not have to go to service that debt? 

A Financial Hero, David Bach, recently wrote an article on Yahoo! Finance about "How to save big on your mortgage".

In the article, David makes a fantastic statement.  David writes …

I'm often asked if it makes more sense to prepay a mortgage or invest the money in stocks and bonds. Rather than ponder which asset will get you a higher return, I think the better question is which investment decision will free you financially and allow you to retire earlier.

In my 9 years of experience as a financial advisor for Morgan Stanley, the clients who paid their debts off early — specifically their mortgages — retired 5 to 10 years before those who didn't.

I ran the calculations for a $150,000 30-year mortgage with 6.0% interest: 

I just love the idea of all of us reading this blog being debt-free including the house!

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

I want to meet with Dave Ramsey

Dave Ramsey is one of my financial heroes!

It was a book that Dave Ramsey wrote that helped position me to truly pursue financial freedom.

The name of the book?  Financial Peace, Revisited

Jenn and I became debt-free in 14 months by learning the most powerful word in the English language – NO!  The experience birthed a passion in me to help others accomplish far more than they ever thought possible with their personal finances!  So much so that I left corporate America and negotiated myself a massive pay cut to do so.  Don't feel sorry for me!!! I LOVE what I do and I no longer have to work for a living!  I am on a CRUSADE!

Part of this CRUSADE must be to meet with Dave Ramsey.  I would love to be able to meet one-on-one with Dave Ramsey to obtain mentoring and to be able to learn from him!

Some questions I will ask Dave when I meet with him are:

  • How do you balance family with your work?  The opportunities are endless at this point to do something other than go home to your family – what helps keep your family the highest priority?
  • You wrote your first book, type-set it yourself, and had it self-published.  What did you learn from that process?
  • You are in a field that can be emotionally draining.  What keeps the passion high for what you do?
  • What do you look for when hiring a new employee?  What are the absolute MUST-HAVES?
  • Has your mission/vision changed since you started?  How has it changed and what helped you figure this out?

Dave – I want to meet with you!  Tell me when and where.  I'll be there, buy the lunch and ask all the questions!

Financial Hero – Bank Lady’s Dad

Why is the Bank Lady's Dad a Financial Hero?

The other day I was waiting in an open office awaiting the return of the personal banker.  As I was sitting there, a very elderly lady came in to the bank.  She was at least 80 years old.  Even at this age, this lady had the "fire" in her eyes.  From this point in the story, I will refer to this lady as Bank Lady.

Since the line awaiting the bank tellers was at least eight people deep, Bank Lady took the opportunity to walk up and down the line of people and speak with them (her friend held her place in line).

She stopped by a lady who appeared to be dressed according to another country's customs and pleasantly asked, "Where are  you from?"

The lady said, "I'm from Kenya."

Bank Lady said, "Well, Ken ya help me?  HA HA HA HA HA HA!"

Bank Lady continued, "Seriously, though.  I've been there!"

The other lady stared at her suspiciously.

Bank Lady, full of enery, said, "When I was twelve, my daddy loaded our family up on a boat and took a trip around the world.  One of our stops was Kenya."

Bank Lady, even more alive upon recalling this great memory, continued, "We sailed out of the harbor in August and arrived back into New York in the springtime.  It was middle April."

WOW!  I sat there dumbfounded!  Bank Lady's Dad had left a legacy.  A life-long memory.  He took his family on an EIGHT MONTH TRIP AROUND THE WORLD!

That took money.  That took planning.  That took commitment.  I am still blown away.

For this, Bank Lady's Dad is an official FINANCIAL HERO!

Read about other Financial Heroes!