How to Tell When It's Time to Splurge


In our day jobs. We get to help folks make financial decisions and a lot. The top people equate that to like how save more build wealth. How do this thing but we talk about all the time? One of our favorite things to do is to be that voice reason that tells tells people when they can take their foot off the pedal where they can actually enjoy some of the fruits of their labor. We just did a show. That's always were to the show ideas. Come from what we just on that show. We're I I was very self confessional about the fact that I'm no longer consider myself a tight. What now if you were attending the livestream I still have a lot of tightwad tendencies? I just can't get those out of my system but it is one of those things where I love it when we talked about this in pre show planning we are now that you unleashed windy. We tell clients that they could actually spend. When do we tell people we're going to be able to that? Ought to be a show. When do we actually get to live like no one else? We hear these things. You're saving saving saving but Wendy. When do you start to put that needle over to? It's okay and give yourself permission. Because that's the biggest thing one of the favourite parts of being financial advisor. Here's the negative. You have to tell people. They're spending too much but there is a huge positive. Actually for a lot of our clients is that they've been so good at accumulating assets. They actually have a hard time. Tom Breaking the habit of building that we tell them. It's okay to start consuming contrite and I love it when we get to break that point to them I think one of the common misnomers that people have is that oh well that happens at retirement or that happens at the financial independence. Were actually going to talk to you today. About not only. Does it happen there. But they're actually times throughout your accumulation accumulation journey throughout your building journey. Where you can give yourself the freedom even if you're young even if you're early on even if you're in the beginning stages where it's okay to spin so long asks you're doing the things you're supposed to do so let's jump right into these and I was so excited about this slide? And here's the first slide is is foosteps are followed by the way. Here's what I think is awesome. I'd like to tell you my entire life is very. I can't say Mr Magoo because I just gotten to be so old forrest gump might very well become. It's kind of getting everyone recognize but I do feel like I m the accidental success story on most things and once again I've stumbled into something awesome is that we've been talking about for years. Financial Order of operations. I mean it is one of the if I call it money guy won a one. You want to understand financial order of operations. One of our. I came here it was youtube or podcast world but money got family members said we love the foosteps house. Like Oh oh my gosh. This is one step closer today Grohl because it is because when I do all this stuff completely by accident I'm like this means that Dave Grohl on are meant to be best friends. Ah I mean it really is a son that we're supposed to thunder Dave. If you're listening we'd love to have you on the show. So let's talk about this because I do WanNa talk about well. Financial Order of operations. This is one of those things and we're going to go much deeper in this. I've got some things in the works even late last night I was working on some ideas with his financial order of operations and I wanted to kind of go through this rather quickly and we know that we have other resources in the past that people can look into but this is when we talk about financial order of operations. But let's go through these pretty quickly and science sign number. One is not that you've completed it but that you are following the steps correctly and so in order to know if you're following the steps correctly you have to actually know what the steps are so step number one of the money orders. Operations is the deductibles covered You WanNa make sure that you have that money set aside that can get you out of the ditch if things things are going haywire you at least have enough to cover health insurance deductibles auto deductibles homeowners deductibles whatever's required. If there were a catastrophic event you have it there to get you out of the pitch this is where you know most people we know the stats. I'M GONNA cover it in a minute. Most people can't come up with a thousand dollars. So you're right. This is just to keep you from the danger. He's home. You have a really yarn poppin bottles on number one. This is just like I said to keep this thing from running aground and remember because I don't think I set up the the the financial order of operations. What makes this so foundational? Is that just like we talk about time. We think a lot of finances very math. Based I mean matter of fact people get onto onto they say no behavior behavior. Well Yeah we get the behavior but if you're not taking if you're neglecting the maths or you are doing this thing all wrong and that's why we just spoke. Oh could a group of structural engineers. We got hard to come up and talk about that. In the first thing we did was we showed him a math equation. That had exponents in it. It had parentheses it had multiplication tables had division had some subtraction and addition and we ask them we said how in the world did you guys know how to do this and and they all were able to say you know I was ordered. Operation is us which was an always. Screw this up but it's like please excuse my dear aunt sally you nailed it see. That's the first time I've ever heard you get it right so but it's the same thing so I wanted to give the context so that everybody understood. Why is this so powerful finances finances is the same as the way you do order of operations with math? You need to do it in the right order so you actually make your system as efficient as

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