Going Long Podcast_SOLO Episode 460_Billy Keels

Mon, Oct 07, 2024 11:20AM • 15:06

‍

00:00

Five impactful questions that changed my life. Today's conversation is sponsored by the Billy keels advisory program. If you want to learn more about how to make your nine to five optional, just go to Billy keels.com. Forward slash advising. Once again, that's Billy keels.com. Forward slash advising,

‍

00:18

five impactful questions that changed my life, and can change yours too.

‍

00:24

Then, you know, a lot of times I'm thinking about what we can do to continue to add value to you, because you're in your car, you're walking down the street, you're on the treadmill, you are looking for value from the podcast. So this is one of the things that I recognize as I talk to people on LinkedIn all the time, but because we're having conversations, there people that are interested in understanding more about how we're serving others

‍

00:50

these five impactful questions that changed my life, my goal in sharing them with you is that they also have the opportunity to positively impact yours too. Now I got to give you, give you some context, right? Because this isn't Billy today. This is Billy from, you know, a couple decades ago. This is Billy in his late 30s. This is Billy recently, a father young kids, three and below, busy household, still have lots of desire to move up the corporate ladder, and so focused on making money, thinking that making money was the thing that was going to solve all problems, especially because Billy

‍

01:29

comes from a lower middle class family. He saw his parents struggle with money, so therefore he thought, Well, if the stress comes from money, get more money, eliminate the stress. You Well, I'm here to tell you that having more money doesn't eliminate your problems. It doesn't eliminate your stress. Many times it creates new problems. Almost every time it creates new problems, and it still creates stress, just different types of stress. So focused on the money, but at the end of the day, this young father, Billy, who was really excited and focused on family, and that was a such a main priority, there's this inside of Billy saying, Hey, listen, you know what the thing is, I just want to get more quality time with my family, not worried about checking my phone every couple seconds, not worried about if the Next escalation is going to happen. I just wanted to have the moment in time where

‍

02:26

I didn't have to worry about time. I was in control of my time, or more control over my time.

‍

02:33

Didn't have the boundaries, didn't realize what I could have done, what I should have done, which is one of the reasons that the podcast exists, because while you're driving young Billy with a y, r, I, E, Billy.

‍

02:46

I want you to hear this. I want you to understand that you're not alone. It's not about the money. It's about focusing on the time, the energy, the quality of the time that you have to invest with others. Now, as I'm going through this, keep in mind, this is a busy corporate time. I really, like my corporate role. Used to say I loved it, but guess what, I didn't love it. I recognize now I just really, really liked it. Great benefits, amazing, amazing companies I have worked for, market leading enterprises that were,

‍

03:16

I mean, I just gave me access to a world that I never even would have existed. No would have known existed. Sorry, I got five languages going on in my mind sometimes, and sometimes I just, I say things, not correctly, not right, if you will. I like to having fun. So thing is, is, as going through all these planes, trains and automobiles, I'm and I'm, don't worry, I'm going to get to the five questions that impacted my life, that helped to change my life, positively changed my life, because then I started realizing, as I looked around and maybe trains, planes, automobiles, I started looking into realizing that there were people that were out there that were not just working the nine to five

‍

03:53

news flash. Everybody you're hearing it first, we're going from nine to five to nine to nine. Because every single person that I talk to every one of you as an executive

‍

04:04

and big enterprise software companies, small business owners, each and every one of you tell me, Billy, yeah, I love the nine to five optional thing, but that's not me. Never worked nine to five.

‍

04:18

So guess what? We're going to want to guess. Think about it in your head, because I'm getting ready. Getting ready to tell you what it is. We're gonna go nine to

‍

04:26

nine to nine. Make it nine to nine optional. Maybe it's the influence, because I've been living here in Spain for such a long time, I don't know could be maybe not. Anyway, nine to five. You heard it here first, going to 99 the nine to nine optional. But anyway, as I started recognizing and understanding that there were people that were also working in the nine to nine. They were enjoying their jobs. And at the same time, I looked across and they were they had these, well, you know what? I've got this retirement plan that's set up. And it wasn't the traditional 401 K or 401 k equivalent. It's, hey, I've got this real estate that's there, or, Hey, listen, I'm starting up this online business. Or.

‍

05:00

I've actually gone into a venture with some other people. I have a certain expertise. They do too. I have some capital. They have some capital. They have more time. I have more money. And I started realizing that you just didn't have to be heads down in your corporate role, even if you're making six or seven figures, which seemed absolutely absurd. So once I started realizing that there were people that there were people that were doing other things, I started recognizing I needed to start asking myself some different questions, because, as we know, when you start to ask better questions, you have the opportunity to get better answers. And that's where I was, that's what I wanted to do. That's where the focus was, to make sure that it's in the best possible position to be able to

‍

05:43

help my family help others, and so that's what I did. So you know what I did? I looked at the man in the mirror. And I know I talk about this all the time, the man in the mirror this time we looked in, we said, hey, listen, I've got to start asking better questions, and I'm going to share the five questions that I asked myself that helped to change the way that I was going about doing things. It may not happen for you overnight, and maybe you have five different questions, but let me be very specific on the questions that I was asking with the hopes that this is going to help you so that you can get to your goals much faster than I did. That's the whole point of doing the podcast. Everyone is to share this information

‍

06:19

so that you have it so it doesn't take you so long, so you can have the benefit of owning your time before you get into your late 40s. Heck, if I can help you get to that in your late 30s. I'd love to be able to do that. Or if you thought you were going to wait until you're 70 and you're doing it 15 years earlier, or 10 years earlier, or 20 years earlier, well, you know what? It would have been worth the investment of time. So here we go. Question number one started asking questions around money. Because, remember, this was my mindset back then. The questions that I asked today are very different, but I want to take you back to where I was in my late 30s, because it started to change my life, and I want the same for you. So whether you're 30, whether you're 40, whether you're 45 whether you're 60, it doesn't matter. It's the types of questions that you're asking, and it's the answers that you're going to come up with that's what helps you to change, because it helps to change your mindset. The mindset helps to change the way that you begin to think about things. And those things start to change and become new belief systems, and you start to take action on them. So here's question number one, Hey, Billy, how do you earn your money? And I asked that question because I started realizing that there were different ways to earn money. You could work being actively involved in something, and there were different types of income you're earning your income that was active income, sometimes it's passive income, not because you're not working on it, because it's a definition. This is education. So how are you earning, you know, Billy, how are you earning your money? There's some reasons for that, because going to taxes and not a tax professional and not giving any advice, but there's just different ways that you can earn your money. So that was question number one, and the impacts of that

‍

07:51

number two, how long was I planning on, Billy, how long do you hold your money? Meaning the money that I have, is it sitting just in a bank account, or is it doing something else? If I was just going to have it sitting in a bank account? Was that for security? Was that, because I have it, planned on going somewhere else very quickly, but how long did I plan on on holding the money in a specific place? Just

‍

08:15

starting to make sense. Question number three, how much money are you investing? Billy, and this goes back to the whole this. This comes to your money mindset, your money culture.

‍

08:27

You may be at a point in your life where the most important investment in your life is $1,000 for someone else, it may be a million for someone else, it may be 100 million. But the question is, how much money you invest also has a major impact on what happens afterwards, whether that be positive, whether that be negative, the amplification on the number of zeros makes a big difference. And as you start to become more experienced as an investor, the zeros tend to add up. So how much money are you investing? And then this was one of the other things I used to just invest, because I thought investing was that's what you were supposed to do when you had a certain job title or a certain amount of money, or in your bank account, or you were earning a certain amount of money. But the real reason is, I started asking question number four, which is, what's the reason you invest your money, because if there's not a reason and you're just doing it because everybody else is doing it to keep up with the Joneses, you have no strategy. You have no anything, well, then there's much more of a chance for you to get

‍

09:33

just to be going through the motions, right? You're just going through the motions. So be clear on what the reason is that you're investing your money. Are you investing your money because you want to have it for your children when they get to college? Do you want to be able to have that so that you can help them get into their first home, their first car? Do you have it because you personally want to buy something that you've always wanted to whether that be a special kind of watch or a car?

‍

10:00

Are or or whatever the case may be, what's the reason for it? Are you? Are you? Are you investing in because you want that to be the basis for family vacations, creating new experiences? The thing is, is what's the reason you have your own reasons. I had my own reasons. But once again, we're here to elevate the way that you're thinking about

‍

10:21

how you can get to investing your quality time in the way that you want. And lastly, remember, we've already gone through four questions. This is question number five, how long will you keep your money invested? Because it's not the same to maybe do a short term loan with someone, which could be three months, it could be six months a year as if you are playing the long game. It's a two decade or a three decade type of investment.

‍

10:48

There's no right or wrong answer, but the question is, how long will you keep your money invested?

‍

10:53

Because it also has the time horizon, what you will be willing to go in terms of maybe the amount of risk that you're willing to take or not,

‍

11:02

but that's the thing. See these questions and asking these types of questions, especially if you've never done it before, this is going to elevate your thinking. This is going to get you to a place of starting to think about not just the way that you're using money, but more importantly, how you're then using your time, how you're investing your time, so that you can really, really start to get to the lifestyle that you want to be able to live.

‍

11:24

So those are the five questions, how do you earn your money? How long do you hold your money? How much money are you investing? What's the reason you invest your money? And also, lastly, how long will you keep your money invested? Let's say I went through all this kind of stuff. I had a plan, and as you have a North Star, right? Let's call it a North Star. That's the general direction that you want to go in. What is the plan that you have for your money, for your time went there? There's always a certain amount of time that if you're working in your corporate role, if you're not dedicating time to get educated, to build your support system, to become have accountability partners and take consistent action, you're always going to be constrained by the one always depleting resource, which is time.

‍

12:06

And so I wish I would love to tell you, Hey, listen, it was all perfect, and everything went to according to plan. Well, the reality is, it's just like every day you have your ideal day that you want to live and go through, and you have everything set up for, but you also have to have buffers along the way that say, Hey, listen, if something goes off course,

‍

12:26

which can happen, happen to happens to me, frequently happens to you, because that's just part of life. So can't say it changed it overnight, but it did help to change my life. And then, most importantly, getting to realize that

‍

12:41

what happened is being able to have a path

‍

12:47

that I knew would work for me and work for others, because I took the time, I invested the time, to actually sit down and think about these questions. Even sparred some of the questions with with Ghost friends and family, and that's the thing that I want for you, is that you can have these types of impactful questions that will have the power to change your life. You just have to invest the time

‍

13:10

to think through them, to think about them. Maybe your questions are a little bit different, but I at least want to give you the questions that I used, the questions that helped me to help to change my life. I want them to be able to help to create a framework that can change yours as well.

‍

13:27

So like I said, I just wanted to share this with you. The idea is to give you, uh, more nuggets, more questions, change your way of thinking, going about getting to the the outcomes in the in the and the solutions that you want for your life. So here's the thing, while you are thinking about these five impactful questions, the ones that changed my life and I hear because I want them to also positively impact and change your life.

‍

13:54

Take today's episode, share it with other family, with friends. Feel free to do that. Have the conversation when you share it, also follow up. Hey, listen. Did you hear the episode? I'd really like to talk to you about it. This is one of the most powerful things I'm I'm doing today. When you share something, it's Follow up. Follow up with someone. Have a conversation. The person you're having conversation with is really going to appreciate the fact that you did that, that you're following up. It's not something you just share and let it go. It's something that you share you and you also care enough to follow up. So

‍

14:25

while you're doing that, like I said, I'll be here, I'll be preparing for the next episode. And so until then, I want you to go out and make it a great day. And I want to say thank you very, very much.

‍

14:37

Today's

‍

14:39

conversation was sponsored by the Billy keels advisory program. If you're looking to make your nine to five optional and need some help, just go to Billy keels.com. Forward slash advising. Once again, that's Billy keels.com. Forward slash advising you.

‍