Episode #13 Personal Financial Responsibility with Ryan Michler
A discussion on Personal Responsibility, Money Self-Talk, and Creating Value.
Bio: Ryan Michler – 11 years of experience in managing money as a financial planner since he returned from service in Iraq. He created Order of Man to give men a community and resource to become better at all facets of life, from self-mastery to family, from money to contribution, and everywhere in between. Find him on OrderOfMan.com
Show Description: Ryan Michler Founder of Order Of Man, is a Father and Husband. We discuss when to consider getting life insurance, taking personal responsibility for our finances, and relationship mindsets around money. You have to listen to this show, as many of its concepts can’t be read, but must be heard and felt.
- 2:45 – Why and When should you consider Life Insurance?
- 5:28 – When should you start saving money for retirement/mortgage/x?
- 6:00 – Ryan explains responsibility and choices we have around money
- 7:26 – Personal Responsibility
- 7:37 – An Awesome example of reasonability and sacrifice, My Girlfriend.
- 8:45 – What “Free” means
- 9:49 – Why you’re being paid what you’re currently being paid
- 11:00 – Ryan shares how he has improved his financial situation
- 12:30 – Being Real and Authentic makes you valuable, solve problems
- 12:50 – Prudence: Money Relationships with others
- 14:38 – Money relationships: how you see other people
- 16:25 – We talk about common misconceptions on spending money
- 17:00 – Keys to Prudence
- 19:30 – Side Hustles: How to ‘go-for-it’ properly
- 21:50 – Growing Wealth
- 23:11 – How to find Ryan Michler and the Order Of Man
“Money is simply a measurement of perceived value” -Ryan Michler
Becoming More Valuable To More People = More Wealth
There’s nothing inherently wrong with spending money, but make sure you’re setting some aside for a rainy day, or in the case of a disaster like loss of a job, or a medical surprise, or an unexpected car accident or water heater breaking.
Create a mindset of saving, it carries on. Even if its $50 a month, start saving something now!
If you aren’t meeting your financial goals. Find a solution: be proactive in finding a better job, or finding a job, or working enough hours to make the money you want.
Avoid the perfectionist mentality: It’s impossible to be perfect, so don’t expect it. It’ll make finding work and becoming stronger and better easier.
When you become a parent, or get a mortgage, or another factor comes up where you have a financial responsibility left undone if you were to pass-away. Consider insurance and look at if it’s prudent to get
If you’re starting or considering a side-hustle. You must commit. No dabbling, or ‘trying’. Set high expectations of what you’re going to put in, and expect it to take longer than you think it’ll take.
In your business, Consider what the tactics are that you need to implement every day to make it work? Share them in the comments below!
Write out your thoughts on what you are doing and what you need to do to be a better catalyst in creating wealth and value. What is a catalyst? How are you a catalyst? What one skill could you improve upon? Who can teach you that skill? Who is your accountability partner you’ll report to on your progress? Drop a line in the comments below!
Listen to an episode of order of man, http://www.orderofman.com/about/ I encourage EVERYONE to listen to his podcast.
Contacts and Links from the Show