Break Free from Playing Safe – Episode 649

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[00:01] Welcome to the Prosperity Podcast. Prosperity thinkers, welcome to the podcast. We’re gonna be talking about the hidden costs of playing it safe. When I came up with this topic and through the research, it’s stung. Oh, it’s stung. I started looking back and I go, ooh, ah, and at the same time, I realized that there are some areas where I didn’t. And so that’s good. Kim, when I spouted off the topic, what did you think right away? Oh, it’s such an interesting part of life. The desire to play it safe. Now, not everybody has this. Some people I think are really hardwired to just take risks and so they do. And they spend their whole life that way and sometimes they get great results and sometimes not so much.

[00:53] But the playing it safe environment is tricky. It’s tricky with finances because we’ve done entire episodes, right, on too much cash and is that even a thing? It’s tricky with our growth because playing it safe might mean that we are not growing because we’re not putting ourselves where we can to cause ourselves some challenges so that we do grow. It’s true even in health, right? Because if you play it safe, you don’t ever push your body and your muscles to do better and so they don’t. I’ve gone through times in my life where I was in maintenance mode with my health, my muscles in particular, not lifting weights as heavily as an example. That doesn’t work. It just does not turn out well. There’s no such thing as maintenance.

[01:42] You’re either growing or you’re dying, basically. And so it’s an arena where you have to sometimes get an accountability buddy. You have to do things with friends. You have to create a space in your life where you don’t play it safe. I’ll give a quick personal example. I like to do hot yoga and I am so grateful to have a tiny bedroom in our home that was converted into a hot yoga studio, meaning there’s special paint on the walls so that we can make it 105 degrees and 65% humidity because that’s the ideal conditions to do hot yoga. And I play Bikram yoga in the speakers and he guides me through a 90-minute series of stretches and exercises for Bikram yoga. So for a while it was Todd’s niece, Samantha.

[02:29] For current time, it is my stepson, Jake, who is like 6’5 and 180 and incredibly strong and has amazing yoga poses. And so it forces me to not play it safe because he’s in there doing his amazingness. And so it causes me to try to do a little bit better on my own practice of yoga and the poses and how deeply I’m getting into them, et cetera. So there are other times when I’m absolutely guilty of playing it safe. Maybe sticking too long to a marketing program for business, I can think of a time where we just really let something play out way, way longer than we should have and it was still bringing people in and we wasted a lot of money over time because I wasn’t willing to take the risk to stop playing it safe

[03:25] with what was sort of working better. Well, that’s good. So you mentioned accountability person or buddy. How can people do that with their personal finances? Obviously like we have a prosperity community. Like that’s what we’ve built here. Like you’ve built that. You’ve built a group called prosperity parents. So that’s for parents, grandparents helping their kids. You’ve done that as you’ve educated people through various situations. But how do you see it now? Because like here we are wrapping out a year. This is the time of year when people start to look and that’s why I said it stung because at the end of the year, that’s when people say, oh, well, I should put down these new year resolutions

[04:15] and start thinking it through. And hopefully that’s happening all the time, not just once a year. Well, I love a new structure that we’ve had now actually for a couple of years that enables us to be a personal finance accountability buddy for our listeners if they’re interested. And it’s all around the cashflow space. So if cashflow control is something that you’re looking for an accountability for, I would encourage you to reach out to our team and learn about our cashflow control structure that enables you to have us as your accountability buddy for cashflow, money in, money out. And thankfully it has an app and an account behind it so the automation and the work is already done. Yet, as we all know,

[05:04] budgeting doesn’t work and most apps don’t really get people the impact that they want. So it’s app plus accountability that makes the difference. And then there are other areas of personal finance that we can be an accountability buddy for as well. We have a special pledge membership that we utilize to let that happen so that it is there for people if that accountability buddy around their personal finance is something that they’re seeking. Or there’s apps for that too, as a matter of fact. There’s a lot of value in paying for an accountability buddy, like my coach Dan Sullivan and the various people that are at Strategic Coach. That forces me to get on a call or a Zoom or go to Chicago every 90 days

[05:50] and have the accountability buddy necessary for that. You can have paid for accountability buddies, you can have free ones, you can have coaches that provide that service, you can have apps that do the job. And I think sometimes even family members, although that’s a tricky one. There are some potentials where family members could be good. And there are other times when maybe a little bit too much emotion involved to get the good results of an accountability buddy from a family member. Yeah, those are all great pieces. I think for our listeners, depending on your situation, you’re gonna have to navigate and figure out what works for you. For any of those, again, we mentioned prosperity parents.

[06:33] We have a variety of things. You can also, if you need to find out the specific, go to hello at prosperitythinkers.com. To circle back from the beginning, the reason why I said it stings a little bit, and this is our family joke. So it’s about Bitcoin. So I remember, it’s like 2010, 2011, I was skiing with my friend, Michael, and he goes, hey, there’s this like new thing called Bitcoin that I just heard about. Super cool, you should do this. And this was Bitcoin, like sub $100, I think. And I have, and that stings. Fortunately, I had a breakfast with my friend, Scott, sometime after, and he’s like, dude, no, really. And so the antenna was up. I’ve learned that in life, if there are no coincidences.

[07:21] So if you have something, listener, that you’re like, I’ve heard this before, and it really means something now, take action on this podcast. If you’re hearing Kim say something, and you’re like, oh, I need this accountability, or this education piece would be helpful for me or for my family, take action, because time is the only thing you can’t get back, and that’s the hidden cost for me. Well, I’m reading my favorite Bitcoin authors’ newest book, which is called The Gold Standard, and it’s actually a combination of history slash novel slash economic textbook. And he talks about time preference. So if you’re not clear about time preference, I’ll leave that as a cliffhanger. Get your Google going and check that out.

[08:13] Join us in this quest to continue to learn about the space that money plays in our lives and whether maybe or maybe not Bitcoin should be added to your realm and about. So cool. All right, listeners, thank you for spending your time with us. Kim, thank you for your time and wisdom. Much appreciated. You’re welcome. Thank you for listening to the Prosperity Podcast. To take control of your money and have it work for you, visit ProsperityThinkers.com.