Ep. 411 - Consistency and Building Wealth

Today's discussion begins with a discussion centered on consistency and wealth building - but then we look at what wealth *actually* means in life and how consistency applies to it ALL. 

Join Rob in a discussion about consistency and building wealth - both financial wealth and beyond.  

Hang in there during this busy season, everyone...keep showing up.  

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Discussion Links:

Financial Peace University | RamseySolutions.com

www.ramseysolutions.com/ramseyplus/financial-peace

Financial Peace University is a nine-lesson course that teaches you how to save for emergencies, pay off debt fast, spend wisely, and invest for your future. And no complicated financial blah blah blah over here. For over 25 years, Dave Ramsey’s been teaching commonsense, biblical money principles that work. Every time.

Transcript

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SPEAKER_00 0:06

Well, hi there, and good morning. Welcome back to another episode of the All Around Growth Podcast. My name is Rob Kaiser, and I am your host. Today is Tuesday, August 30th, 2022. And this is episode number 411 of a show that provides insight and tools to build the life and homestead of our dreams. Today's show topic is consistency, and we're going to look at it through the lens of building wealth, but then we'll see how that applies to other aspects of life. So without further ado, let's get into it. Now, the reality is at this point in our lives, depending on where we are, whether we're in the program or not, most of us aren't ready to start investing yet. Even though we are investing yet, we may not be ready to start investing. And the real like the reality is, like I said, I'm speaking through the lens of Financial Peace University. And if you are following the baby steps and you're trying to pay off debt andor build up your emergency fund in baby step three, which is three to six months of living expenses in a fluid accessible account like a money market account, then what you want to do is stop investing. And then once we have hit the point where we have our emergency fund fully funded, we are investing 15% of our income into wealth building uh avenues that we will look into in just a moment. But uh the ideal with investing, the ideal with any of this is consistency. In the the reason this is on my mind is I I went through I coordinated a video last night. Or I'm coordinating a course rather, and like I said, it was lesson seven, and Dave Ramsey shared a story about the tortoise and the hare. And the moral of the story is slow and steady wins the race. Consistency over time helps us develop and build success. With regard to Financial Peace University, the key points of this lesson seven are following the baby steps and investing 15% of your income over time will allow you to become a baby steps millionaire. Now you can lower your risk by diversifying your investments across four types of mutual funds. And the third key point is to keep it simple and never invest in things you don't understand. Now there are many other types of investments beyond four types of mutual funds, but ultimately I believe keeping it simple and never investing in things you don't understand is a good principle. And I also believe that following the baby steps and investing 15% of your income overtime, becoming a baby steps millionaire is possible. I say baby steps millionaire because I'm not really interested in becoming a millionaire in any other way except through the implementation of the baby steps. And as I continue to coordinate these courses, I continue to communicate to people that, yeah, this may not be the best way out there, but until I find something superior, this is the plan I'm following. This is the plan that's worked for me, and that's all I got, and that's why I coordinate the courses, right? So we're not going to talk so much about the ins and outs and the details of building wealth because I'm not quite there yet. I'm still at a point where I am building my emergency fund because well, I've got to I I have dipped into that to pay off some last medical expenses from this whole functional medicine process that I went through last year, and also I am having to utilize some of that when my income is as irregular as it is right now to live. But luckily, I have not had to dip into that as much as I was expecting, and that pleases me. Now we've got some quotes in here from the lesson material, and I'll go ahead and share those with you now because I think some of these quotes, well, they're relevant to building wealth, not only financially, but building wealth in life, which is far more than that which can be fulfilled financially. So from Ecclesiastes chapter 11, verse 2, we read, give portions to seven, yes to eight, for you do not know what disaster may come upon the land. Diversification. And ultimately, guys, you know, we're never doing things we don't understand, we're never doing anything we don't understand, not just simply investing, but I will say, however, if you are going to do something you don't understand, make sure you understand why you're doing the thing that you don't understand. From Proverbs chapter 10, verse 4, we read lazy hands make for poverty, but diligent hands bring wealth. Consistency. Consistency. Nothing good comes from stagnation. Well, that's it, guys. I'm gonna keep this episode today uh brief and um call it quits. You'll notice that there was some different intro music. There's not going to be any outro music today. I was feeling a little bit frustrated because well, it's the end of August, we're going into September. Um it's busy. It's busy. We are ramping up production, we're going to launch the online store here in a few weeks. I'm hopeful that it's going to be successful, but it could just be a giant flop. So, to counter that, we decided that we're going to do a secondary market up in the Cleveland area in the Tremont neighborhood. And that would be a good thing to do to close out the season. We'll do three markets there for three weeks. So there's a lot of prep work going on. And I know a lot of you guys out there are busy too. And so sometimes things don't really work out the way that we want them to, especially when we are busy, right? And things happen at the wrong times. Well, I've been talking about this whole resetting of my phone for months and months, and finally it just reached a point where I've got to take care of this, and I'm I'm going to do this this morning. Um, to the best of my ability. Dad's out right now picking up more cabbage, so I gotta be prepared for when he gets back so we can get to unloading and get to um get to unloading and get to get to work, you know. Uh it's on, it's the season right now, so uh, but that doesn't mean that we can let our current obligations slide. And while this, you know, and this to me, this is an obligation, you know. I I don't want to take this for granted, I don't want to take what we've all built for granted. So sometimes that means showing up. And even if you don't really know what to do and you don't have the time and aren't really satisfied with what you've put together to make it all happen, show up because the others that are around you, you know, when they see you showing up consistently, even when it sucks, even when you fail, but when they see you show up, that's inspiring because it means you're not giving up and you're not giving in and you're not going to let whatever I I whatever you follow me, and so that's why the topic of today's show is what it is. It's not simply consistency when it comes to building wealth, but it's consistency when it comes to everything else. And maybe it is just simply consistency when it comes to building wealth, because wealth consists of far more than financial gain. We've got wealth that applies to all aspects of life: financial, physical, personal development, our families, our spiritual lives, our social lives, and our careers. We can be wealthy in all aspects of life. And if you want a solid tool that will help you figure out how to do that, one easy way and one free way is through the goal setting workbook, which I'll link to in the show notes as well. And one other thing that I'll just mention briefly and not talk about too much is the 48 Days Eagles community, and there's something coming up uh about a week from now for a few days that will provide anybody and everybody the ability to check out the Eagles community and see what it's all about and get a sneak peek. So I will link to that in the show notes as well, along with you know, I'll just make sure to link to that for the next week until we get to that date, September 6th. So, guys, just like any other time, be sure to check out the show notes for things that were discussed in today's episode and more. And I look forward to catching you tomorrow, which will be Wednesday the 31st, the last day of August. And then on Thursday, we will cover the York Meadow Farm newsletter. So that that's also in the mix right now, trying to get that completed as well. So month end, beginning of the month is always usually busy. Not to mention the fact that we're trying to figure out a time to go break down a free high tunnel that uh that I was able to secure from somebody who I've had the opportunity to do some side work with. So that's exciting too. Lot going on, guys. Uh stay tuned in the telegram chat t.me slash all around growth or on social media, float, Facebook, Mi We. I'm going to try to make a concerted effort to get back on some of these platforms, at least sharing content, but it and maybe be more active on Facebook as well, since that's where I think the uh a lot of a lot of people, reachable audience is despite opinions on the platform. I think I'm going to use it in order to grow the audience as I continue to learn how to grow and change and evolve this show just as I'm continuing to grow, change and evolve my life. So if you like what you hear, stick around. Uh there's going to be more of the same as time goes on. And again, check out the show notes to links for everything, all past episodes and more. And I look forward to seeing you tomorrow. This is Rob Kaiser, and thank you.