The Secret To Wealth Lies Within Your Principles

Today’s guest always leaves you feeling a bit smarter after having a conversation with him and today was no exception. Join Mark & Scott as they welcome Todd Tresidder, founder of FinancialMentor.com, back to the show. 

Todd previously appeared on the Best Passive Income model about 4 years ago which you can find here: Todd Tresidder on Wealth Building Equation in Life

He is a former hedge fund manager who didn’t want his tombstone to read, “his investments skills made his rich clients richer”. As a result he made his advance investment strategy and wealth planning knowledge publicly accessible through his website to help normal people to achieve extraordinary financial results. 

Before becoming the Financial Mentor, Todd worked his way through college to pay the bills and came to the conclusion that he didn’t like having to live from the right side menu of life. So he set out to design his life to result in wealth and 12 years later, at the age of 35, he was financially independent. 

Todd says it wasn’t that complex, you just have to get the principles right… and today, we are going to dive deep into those principles.

When asked to define wealth, Todd says that the focus is not on wealth as much as it is on financial freedom and it’s the assets that produce the cash flow that creates the freedom. 

In my world it’s never about more stuff, it’s about the experiences. A wealthy life is a life full of powerful experiences.

Todd

Listen in as the guys have a deep thought provoking conversation about how you get more joy and satisfaction in life by creating value and giving back to others. 

There’s only so much we can do for ourselves that brings us a certain amount of joy, you’re going to get a lot more joy from helping other people. I think there’s a level of satisfaction that gets missed a lot of times when you’re only focusing on yourself as opposed to the little things or little moments that you can do to help other people to create or manufacture the life that they want.

Scott

Money simply solves money problems. We want to get to the point of solving time and money problems. Once your passive income exceeds your fixed expenses you get both of those and you can really think about how you can add more value to your life and experience giving back to others, moving up Maslow’s Hierarchy of Needs into Self-Actualization.

Mark

Todd talks in brief about the differences in his coaching techniques when it comes to the wealthy and the poor and why you need to adapt to a mindset of self-responsibility in order to empower yourself and give yourself the ability to shape your life in the direction you want.

He also dives deep into these principles that he accredits to his success:

  • A high value on growth—Level 2 thinking
  • Clarity of thinking and commitment
  • Integrity
  • Systems and leverage
  • Risk management

Level 2 thinking is understanding risk management, understanding the role of active risk management when it’s properly done. Level 2 is dynamic, it’s subtle, it requires more knowledge to fully develop and understand. But it’s well worth doing because it’s way more accurate than our world. It reflects reality and so it allows you to work within reality way more productively.

Todd

We try to include an inspirational quote into every podcast write up, but today’s show is packed full of so much wisdom, it was hard to choose just one…. Hence, this is why you always leave a conversation with Todd Tresidder, a little bit smarter.

TIP OF THE WEEK 

Mark: Learn more, go to FinancialMentor.com where you can find freebies, resources, and all of Todd’s books!  

Scott: Mac users, for the next generation of trash bin check out TheBin

Todd: How much leverage are you applying in your life? To understand how leverage connects with risk management to build wealth, read The Leverage Equation but How Much Money Do You Need To Retire

Isn’t it time to create passive income so you can work where you want, when you want and with whomever you want?


The post The Secret To Wealth Lies Within Your Principles appeared first on The Land Geek.