In this episode, we discuss the importance of taking time in the present to make sure you’re on track to get the future you want.
Full Transcript
Hi Everyone, welcome to the You’re Daily Cup of Joe Podcast, with your host Joe Bautista. In this podcast, my goal is to give you quick lessons on how to grow yourself physically, mentally, emotionally, and spiritually so you can have better careers, better relationships, and better personal finances.
I’m also the author of the book “More You Know, More You Grow: How to Get Better Every Day”. In this book, I wrote down over 30 tips to help you grow in those four cornerstones. I’m also the founder of Grow With Joe where I combine financial planning with self-development coaching for Latino professionals.
In today’s episode, we’re are going to talk about how you need to correctly price your future. As people, we tend to be optimistic about our future. We think that things are going to get better and if you take action and work towards that better future, then you’re increasing the likelihood of that brighter future happening.
I’m constantly reviewing my actions to ensure that I’m make wise decisions today because I know that my actions in the past are determining what time of today I’m having. When I was 17 years old, I decided I wanted to go in the Marines to pay for my college. I knew I was going to get the GI Bill and that benefit has helped me so much with my future self.
I just got accepted into Syracuse University for their online MBA program and I won’t have to worry about paying for college because I have my GI Bill to pay for it. This will then give me the ability to live in Latin America for two years to learn Spanish while I do my course work online.
I will also be working on my Financial Planning business at the same time. I’m working on all these different things at the same time because I know it will give me the future that I want. I want to model my financial planning business after Rick Edleman who runs his own financial planning firm.
I’m also trying to learn how to leverage digital marketing so that I can target Latino Professionals in their 20s, 30s, and 40s because they truly need financial planning. I know if I continue down this path, it will give me the flexibility and control over my life that desire so I can spend more time with friends, family, and hobbies that I want to pursue.
I know the type of future that I want and I dictate my action today to get that future that I want, but I have to review my action to ensure that I’m still on track. So you have to ask yourself, am I pricing my future correctly? Am I doing enough with my personal finances to ensure I’m on track for retirement. Am I doing enough with my career so that I don’t become obsolete? Am I doing enough with my health today so that I don’t have a major illness in the future?
The future is going to come faster than you expect and if you price your future incorrectly, what will happen is that you will be struggling to catch up with the new future. It can also prevent you from being great at the wrong thing for 20 years just to find out you went towards a dead end. It’s like getting into beanie babies in the late 90s just to find out that they are worthless the next year.
So you have to make sure you’re reviewing your actions and goals to make sure that you are going to have flexibility and control over your future. If you don’t do this, then some serious consequences can happen. As a financial planner, I hate to see people close to their desired retirement and they don’t have enough in their accounts to support them in retirement and I want to ensure that people don’t have to face a dire retirement.
This happens if we price our future incorrectly. We think things are going to be good or they are going to turn themselves around, but they won’t and we’ll just be disappointed.
A great way to see if you’re on track for the future you want is to actually do some forecasting. As a financial planner, I can see what people are doing for their retirement and using their current savings rate and a projected return on investment, I can calculate if someone is on track or not. If a person is not on track, I can make some recommendations for how they can get on track and monitor their progress so they are more likely to get the future they want. I can also see where they working and recommend some exercises to ensure that they are more competitive for promotions and if they need training on management skills, I can recommend some books and folks to help them out.
You constantly have to work on your skills as a person because the world is changing and you can’t survive in the environment if you have 1995 skills in 2019. The thing is that change is very hard to detect. If you get .1% worse for the day, you’re really not going to see a difference and you probably won’t see the difference because they degrade in your skills, body, and mind is happening so slow. It’s kind of like the weather. You don’t notice a big difference in the day to day, but you do see a difference in the month to month and you just accept it.
But we can’t be passive about our development and our finances, we have to take action and review what we are doing. A great way to be active to go out and learn what your options are. You might learn about this new thing that will change your industry forever. So then you might decide to leave your industry or develop more skills so you can take advantage of that change. If one thing is constant in this world, it is change so don’t ever expect things to stay the same. You might have gotten lucky in the past but one day your luck might run out.
I don’t want to see people suffer because it can cause stress for their life and others. There is a term out there called the sandwich generation, where people between 20 and 50 have to worry about taking care of their parent and their children. So when a parent misprices their future than then that causes stress and anxiety among their children and other family members. The world changes a lot of folks born in the 40s, 50s, and 60s. They didn’t have the internet until the late 90s or early 2000s and most of them weren’t prepared for this fast-changing future. Most people didn’t live past their 60s and now we are expecting people to live into the 80s and 90s. We should help them out as much as we can but we need to focus on our development as well so that we can have a future with more security for ourselves and our family. If we do this then the world will be a better place to live in.
Thanks for listening today’s episode, to summarize it, make sure you’re correctly pricing your future. If you price your future correctly, then you’ll have more security, peace of mind, and fun. If you don’t, then you might be struggling once the future actually comes. So take an active role in your development and start living the good life.
To get a free copy of my book “More You Know, More You Grow: How to get better every day” just go to my website growwithjoe.me/book and just pay for shipping and handling.
I have a quiz on my website that grades your inner circle, so if you want to find out if your inner circle is an A, B, C, D, or F, you can take that quiz at growwithjoe.me/quiz
I’m also trying to do a feedback Friday episode, so if you have a question that you would like to have my answer on the air, just e-mail me at [email protected]
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Thanks for joining me today and remember if you go with Joe, you can grow with Joe, cause Joe knows Dough.
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