Order of Man - Mindset of Masculine Money Management ｜ FRIDAY FIELD NOTES

00:00:00.000 The most effective men know how to manage their money well.

00:00:03.360 Now, that doesn't mean that you can't be a man or you're not a man if you don't.

00:00:07.180 But what it means is that if you don't know how to manage that tool, that resource well, you are not as proficient, as capable of protecting, providing, and presiding in your life.

00:00:19.160 And we all know, of course, that in order to be a man, you must be those things, a protector, provider, presider.

00:00:25.180 Money management is a crucial, crucial element of what it means to deploy your resources, to be valuable in the eyes of others, to acquire the resources needed to protect your family, and to be the man that you have a desire to be and the man that you can become.

00:00:44.460 Today, I'm going to talk with you about seven key mindsets, money management mindsets that you can employ every single day, you can adopt into your money psyche, and become entirely the man you're meant to be.

00:00:57.420 Let's jump right into it.

00:00:58.760 Number one is money is nothing more than a metric of perceived value.

00:01:04.200 Now, remember, I'm going to talk with you today about the mindsets of money management.

00:01:09.160 We're not going to get real practical today.

00:01:10.780 We're going to do that in a future episode.

00:01:12.340 Today, we need to get the mindset right.

00:01:14.460 If you get the mindset right, the other things will follow.

00:01:17.260 But number one is that money is a metric of perceived value.

00:01:22.700 It is nothing more.

00:01:24.120 It is nothing less.

00:01:26.020 The more money you have, the more valuable you are perceived in the eyes of other people.

00:01:32.160 If, for example, I'm an attorney and I can charge $200 an hour, but the guy down the street can charge $400 an hour, he is perceived to be more valuable than the guy who can charge $200 an hour.

00:01:44.460 Now, this is important because many of us put too much emphasis or this unrealistic expectation or this weird dogma around what money is.

00:01:58.300 But it's not.

00:01:58.920 And I believe that you have a moral imperative.

00:02:02.920 You have a moral obligation to be valuable.

00:02:05.980 Again, we go back to the protect, provide, and preside mantra.

00:02:09.060 If we are to be valuable in the eyes of other people, if we're to show up fully, then our bank account is a metric, at least our earnings potential.

00:02:19.060 I'll say it that way, is a metric of the value that we provide to others.

00:02:24.560 Now, what's important to know about this, there's a caveat and there's a pitfall that people fall into.

00:02:31.400 As far as it being a metric of perceived value, the caveat is that you don't get to decide how valuable you are.

00:02:38.520 You never do.

00:02:39.900 You can feel like you're worth something.

00:02:44.020 You can feel important.

00:02:45.780 You can feel like you have important work to do while you're here on this earth.

00:02:51.840 You can even know where your sense of worth is derived from.

00:02:57.000 But as far as value, what you actually offer to the world, other people get to dictate that.

00:03:02.740 So if I set my prices at $400 an hour, to go back to my previous example, and I don't have any clients, then I might think I'm worth $400 an hour, but clearly nobody else does.

00:03:14.040 This is a really good thing in a largely capitalistic society because it allows for voluntary trade.

00:03:20.040 What it means is that I can do one of a couple of things.

00:03:23.900 If I'm charging $400 an hour and nobody's coming in, I have no clients, I can either be more valuable and I can get feedback from what the market dictates, and that might generate revenue for me, or I can lower my rates.

00:03:38.460 And then if I lower my rates to $350 or $300 an hour, maybe I start picking up clients.

00:03:43.880 But again, we need to understand that we don't dictate what is valuable to others.

00:03:48.460 Our clients do.

00:03:50.040 The people who are going to pay us get to dictate that.

00:03:53.160 And if you're not achieving the earnings or the income that you would like, it's a metric of value that isn't there.

00:04:01.560 You're just not as valuable as you think you are, which is fine.

00:04:04.740 It might hurt a little bit.

00:04:06.140 It might sting a little bit.

00:04:07.260 But at least now you know so that you can make the changes necessary to be more valuable in the lives of the people that you want to serve.

00:04:12.980 Number two, your job is to make a lot of money.

00:04:17.800 There are so many misconceptions about money, and there's the scriptural reference that the love of money is the root of all evil and those sorts of things that we hear.

00:04:29.260 And I'm not going to get into that because we hear that all the time.

00:04:32.400 You know, you hear money is the root of all evil, but that's a misquote.

00:04:35.280 It's the love of money.

00:04:36.520 And I would even suggest that it's the obsession of money itself that might be the root.

00:04:41.320 It's not that the little green piece of paper or the zeros and ones that we have in our bank accounts through digital technology is the root of evil.

00:04:52.880 That's not the problem.

00:04:54.140 It's that many people become obsessed with money to the point that they're just in it to make a lot of it.

00:05:02.160 And the problem with that is that if that's all you're after, it's very easy to convince yourself in very small, seemingly insignificant ways to be devious, to take advantage of other people, to manipulate, maybe even to steal, because all that matters is chasing that money.

00:05:19.780 And that's a problem because it becomes an idol.

00:05:23.240 If, on the other hand, you feel like you have a moral imperative to be valuable in this world, and I believe you do, and money is a metric of perceived value, then we have a moral obligation to make a lot of money.

00:05:36.720 There have been times in my life where I have been relatively wealthy, and there are times in my life where I have been absolutely financially destitute.

00:05:46.680 And I can tell you, having money is better.

00:05:49.780 Not only is it better for my mental well-being, because I can afford to pay my bills, but it allows me to engage more with my family and the people that I love.

00:05:59.540 It allows me to contribute and give back and donate money and time and energy and resources to organizations and missions that I believe in.

00:06:08.580 You know, right now, for example, I'm helping my oldest son's lacrosse league, and I'm able to help in a capacity that probably six, seven, eight, ten years ago, I may not have been able to do because I'm in the financial position to do it.

00:06:22.820 But we have these things called money demons, where we have these negative perceptions and misconceptions about what money is.

00:06:31.500 And you were conditioned, you were programmed to believe these things from an early age.

00:06:37.540 You know, for example, money is the root of all evil.

00:06:40.200 That's one.

00:06:40.740 If you heard that as a child and that became part of your indoctrination, well, of course, you don't want to make money because you don't want to be an evil person.

00:06:51.940 And then we get into this false dichotomy that you can either be a righteous person who is broke or an unrighteous person who is extremely wealthy.

00:07:00.580 That's a false dichotomy.

00:07:02.500 You could actually be a righteous person who makes a lot of money.

00:07:06.220 And I know plenty of those individuals, and we've all heard the adage that money makes you more of who you are.

00:07:12.740 So if you're a righteous individual, your money is going to allow you to be, dare I say, more righteous because you're actually able to do something.

00:07:23.480 Righteousness, I believe, is action.

00:07:25.840 If we're going to use scriptural references, faith without works is dead.

00:07:29.980 So if you're a really good guy, but you can't do anything about it or you won't, I mean, that's a great thought, but you're not really actually serving anybody.

00:07:38.460 But if you're a really great guy and you have the ability to tithe or to give to charity or take days off to spend with your family or enjoy the benefits of somebody else's business because you can pay for it and afford it, I would say that person is more righteous because of those scriptural references.

00:07:58.720 So let's get over these money demons, like money is the root of all evil.

00:08:03.180 A penny saved is a penny earned.

00:08:05.520 Another one is money doesn't grow on trees.

00:08:08.460 These are all cultural and societal and familial programming that gets you thinking negatively and in scarcity about what money is.

00:08:18.180 And you can actually just decide, I want to change that.

00:08:21.140 I don't believe, for example, with me, that money doesn't grow on trees, of course.

00:08:27.100 But what's the belief behind it?

00:08:28.360 That it's scarce, that it's finite, that you can't create it, that you can't create prosperity and abundance.

00:08:33.060 And that isn't true.

00:08:33.760 You absolutely can.

00:08:36.720 Whether you offer a service or a program or a product, you absolutely can take your knowledge and wealth and know-how and turn it into income.

00:08:45.360 Of course you can.

00:08:46.900 A penny saved is a penny earned encourages you to set your money aside, to hide it, to save it and never deploy it.

00:08:56.680 And obviously, again, to go back to scriptural references, you've all heard, at least some of you have, the parable of the talents.

00:09:02.880 And the individual who buried his talents was chastised, scolded, and his money was actually taken and given to the servant who decided to go out and employ it and deploy it and put it to work and have it come back to him.

00:09:16.020 So a penny saved, a penny earned, no, it's not a penny earned, it's just wasted opportunity.

00:09:22.960 In the financial world, you might call it lost opportunity cost.

00:09:26.840 So your job is to make a lot of money.

00:09:29.220 And if you wrap your head around that and you believe that, then you will start doing the right things in order to build that wealth.

00:09:35.320 Number three, money is a tool.

00:09:38.320 It's what you do with it that matters.

00:09:40.320 It's just a tool.

00:09:41.440 It's no different than this cell phone.

00:09:43.580 This is a tool.

00:09:44.940 This is a device.

00:09:46.620 I would not consider this inherently evil.

00:09:49.880 Now, there's a lot of evil things I can do on it.

00:09:52.440 And there's a lot of distractions and there's a lot of temptations, of course, but it's just a tool.

00:09:58.640 And what makes money righteous or unrighteous is what you do with it.

00:10:05.140 You know, if I said, for example, let's use another object.

00:10:09.480 Let's take a hammer.

00:10:10.120 If I said, is a hammer good or bad, or even a gun, maybe a firearm is a better example.

00:10:19.680 Is a firearm good or bad?

00:10:22.980 Now, some people listening might say, well, it's bad.

00:10:24.960 It's inherently bad.

00:10:26.220 And others might say it's inherently good.

00:10:27.920 Well, the reality is that it's neither.

00:10:29.540 It's a hunk of metal fashioned in a certain way to produce a desired result, in that case, to fire a projectile at rapid pace in order to achieve an objective.

00:10:40.540 Now, if I go on a shooting spree at the mall, the local mall, and I take out a bunch of innocent people, well, that would be an unrighteous use of the tool.

00:10:52.120 We would all agree with that, I think.

00:10:53.620 I hope.

00:10:53.980 If, on the other hand, I see somebody engaged in that behavior and I take out my pistol and I neutralize the threat, we would all say that's a righteous use of the tool.

00:11:04.740 Or I take my rifle out this fall and I go on a hunt somewhere and I end up shooting a deer, killing it, harvesting, breaking it down, and feeding my family.

00:11:13.500 Money, the majority of us would say that's a righteous use of the tool.

00:11:18.900 Money is no different, guys.

00:11:21.240 I really need all of us to, and you need it.

00:11:23.740 I don't even need it.

00:11:24.600 You need to wrap your head around the idea that money is just a tool and it's only as powerful as the man who's wielding it.

00:11:33.360 Are you using it effectively or are you making bad purchases or making poor and dumb decisions and not serving other people?

00:11:42.120 Or are you deploying it in a proper way in order to achieve abundance and prosperity in your life and add value to the lives of the people around you?

00:11:50.800 Number four, emotions have no place in the money discussion.

00:11:54.960 Now, intuition and intelligence do, but emotions do not.

00:12:00.300 It is so easy to get wrapped up.

00:12:02.460 And I was going to say I don't know why it is, but it's interesting to me that the concept of money,

00:12:10.060 which is literally this green piece of paper that we have in our wallets,

00:12:13.580 or again, it's the zeros and ones in the digital code that's on our phone and our digital apps and our bank accounts, etc.

00:12:23.400 But we get this emotional response from it because it is more than just math.

00:12:28.580 If it was just math, every single one of us would be independently wealthy beyond belief because we all know math outside of a high school algebra course.

00:12:41.540 And that's really all it would take to understand how investments work, how insurance works, how cash flow works, and all the other aspects of money management.

00:12:51.740 So it's more than math.

00:12:53.020 So what is it?

00:12:54.300 What's your emotions?

00:12:55.940 You know, for example, we've seen over the past two to three weeks now, the stock market is just a roller coaster.

00:13:03.740 But if I were to ask you, what is the first rule of investing?

00:13:07.640 Most people would answer or could get to very quickly this.

00:13:11.840 Buy low, sell high.

00:13:14.060 Most people can do that.

00:13:16.360 Most people cannot do that.

00:13:17.660 Meaning they know the answer, but they can't actually apply it in practicality.

00:13:24.240 Because when that market dips and they've got $100,000 or $400,000 or $1 million in their retirement account,

00:13:30.380 and that market dips, and all of a sudden $500,000 goes down to $389,000 a motion.

00:13:39.220 So instead of doing the first rule that they know, they know buy low, sell high,

00:13:44.100 what they do is they say, you know what, it's going to keep going down, I'm out, and they sell low.

00:13:49.520 And then when the market turns around, and it will, it always does,

00:13:53.080 when the market turns around and rebounds, after they've realized all their losses because they sold low,

00:13:59.840 now I'll get back to the market, and so they're buying high.

00:14:04.080 Why do we do that?

00:14:05.600 Fear and greed.

00:14:07.480 That's it.

00:14:08.560 You're either afraid or you're being greedy.

00:14:10.720 And if you can learn to regulate those emotions, you can make better financial decisions.

00:14:17.500 For example, another example, your wife is ready to have a new home.

00:14:22.020 Maybe you are too.

00:14:23.500 And you see a home across the neighborhood, and it's beautiful.

00:14:26.720 It's got a yard, and it's got all the space and room that you want, and it's got the perfect layout.

00:14:31.660 It's an incredible neighborhood.

00:14:33.160 It's right by the school that your kids go to or that you want them to go to,

00:14:37.480 and you have just all the dreams and hopes in the world about how beautiful this place will be.

00:14:42.740 If it's just math, you might decide we can make this work or we can't, and that you would leave it at that.

00:14:48.000 Hey, yep, we can make it work.

00:14:49.440 Do it.

00:14:50.040 Nope, we can't make it work.

00:14:51.160 Maybe later we'll keep saving.

00:14:52.260 But instead, what ends up happening is you think about the pitter-patter of the little kids running around in the hall

00:14:58.700 or coming down the stairs or sliding down the banister

00:15:01.160 or what it's like when you have that Christmas tree in the front window and the snow is coming down

00:15:06.100 and the kids are so excited and the nostalgia of how you believed it should have been when you were a kid.

00:15:12.520 And you can envision going out in the backyard with your sons and setting up a tee

00:15:16.980 or throwing baseballs to him so he can hit.

00:15:19.360 And you see your daughter and her friends dancing around the house or maybe cooking with your wife

00:15:24.440 and all the wonderful things that you want from that place, and that clouds your judgment.

00:15:29.560 And you look at the finances and you realize, you know what, maybe this isn't going to work for us,

00:15:33.500 but, man, I really want that Christmas tree in that front window.

00:15:37.600 And, man, I really want to hit baseball with my kids out back.

00:15:41.420 And I really want to see what my daughter and my wife are going to be able to cook up

00:15:46.180 and the family meals they're going to provide for us.

00:15:48.240 And I can really see having that entertainment system and having all my buddies over for fight night.

00:15:54.140 And so, like, let's, we shouldn't, but let's do it anyways.

00:15:58.140 That's what most people do.

00:15:59.600 That has nothing to do with intuition or intelligence.

00:16:01.840 It has to do with emotion.

00:16:03.440 You know you're not in the realm of buying that house.

00:16:07.780 You feel it, intuition.

00:16:10.440 You know it, intelligence.

00:16:12.400 And yet, you still do it because your emotion got the better of you.

00:16:17.220 Learn to regulate your emotions.

00:16:18.660 I'm going to talk with you a little bit towards the end, my last tip, on how to do that more effectively.

00:16:23.560 But if you can learn to regulate your emotions and understand if you're making purchases based on emotion

00:16:29.180 or based on intuition and intelligence, you'll make better decisions.

00:16:34.140 All right, number five, no man has a right to be an amateur in the way of money management.

00:16:40.820 Now, we've heard that quote, and I don't have it pulled up here, but the quote is originally in the matters of physical fitness.

00:16:46.880 It's sad to see a man who dies before he's capable of seeing what his body can do.

00:16:52.000 Well, it's the same thing with your money management.

00:16:53.940 This is something that permeates every fabric of society, and it's something that permeates every decision that you will make in life.

00:17:01.620 Every single decision, for the most part.

00:17:04.880 You could probably find an exception.

00:17:07.160 But the reality is, is that this is such an integral part of our life.

00:17:11.220 And you might say, I wish it weren't that way.

00:17:13.140 I wish it weren't that way either.

00:17:14.580 But it is.

00:17:15.540 It's part of the deal.

00:17:17.400 And because it's part of the deal, you have no right to be an amateur with how money works.

00:17:22.520 And it's not even that hard.

00:17:25.160 You can go into ChatGPT and ask a basic prompt, and it'll tell you everything you might want to know about real estate investing,

00:17:32.020 or proper insurance coverage, or how to invest in the stock market, or how to do a budget.

00:17:41.500 You can hire somebody.

00:17:43.660 You can learn online.

00:17:46.000 You can read a book.

00:17:47.720 Whatever information you feel like you need, it is there at your disposal for free.

00:17:52.280 You can listen to a podcast on it.

00:17:55.040 You can go to a conference about money management.

00:17:58.060 Now, sometimes you get what you pay for, but there is 99% of the information that is at the tip of your fingers,

00:18:04.760 literally, by punching away on that keypad on your computer or on your phone,

00:18:09.020 and it'll tell you everything that you need to know about where you're deficient.

00:18:13.460 And no man has a right, because it's such a crucial part of his life,

00:18:17.000 and the lives of the people that he wants to serve, to be amateur about it.

00:18:20.320 Now, I wish it was taught more effectively in the school system.

00:18:24.740 I wish it was part of a high school curriculum.

00:18:28.160 I wish that we all talked about it more effectively.

00:18:31.000 I wish we read more books.

00:18:32.320 I wish it was more readily available, the information we need, but it's not.

00:18:36.640 So what that means is that it's on you to go out and acquire that information.

00:18:41.040 Now, we talk about self-help all the time, and you guys are willing to read books,

00:18:44.200 and listen to podcasts, and go to conferences, and get emails.

00:18:48.160 But how many of you are learning about money management?

00:18:51.380 How many financial podcasts are you listening to?

00:18:55.200 How many financial books have you read in the last three to five years?

00:18:59.860 How many emails do you get about proper money management?

00:19:03.100 I'd be willing to bet it's pretty few.

00:19:05.140 And if you want to be good at the tool that is going to move the needle,

00:19:11.240 probably more than just about anything else outside of the spiritual realm,

00:19:15.660 then you have no right to be an amateur,

00:19:17.900 and you have an obligation to go out and get the information you need.

00:19:21.560 Number six, there's a way to manage your money generally,

00:19:24.700 and there's a proper order.

00:19:25.980 There's a prioritization.

00:19:28.680 Okay, most people just think,

00:19:29.820 I'm just going to go invest in the stock market.

00:19:31.040 I'll make a bunch of money.

00:19:31.760 Or I'm just going to save my money, and that'll be fine.

00:19:34.600 I don't want to invest.

00:19:36.200 And that's all.

00:19:36.920 That's all they ever do.

00:19:37.980 But there's a proper way to do this.

00:19:39.700 And I tend to look at this through the lens of battle, through a war.

00:19:42.800 And the proper way is to fortify, to neutralize, and to attack.

00:19:49.260 That's the proper way to manage your money.

00:19:51.220 Fortify, neutralize, and attack.

00:19:53.300 So what does that mean in layman terms?

00:19:56.080 To fortify means get your insurances in place.

00:19:59.480 Because there's a risk that you could die today.

00:20:03.360 There's a risk that you could contract a medical diagnosis that will cripple you financially.

00:20:10.580 There's a risk that somebody will sideswipe you on the way home.

00:20:15.640 There's a risk that a tree will fall on your house today.

00:20:20.220 Or that you'll run across a flood or a natural disaster.

00:20:23.560 There's so many risks out there that it's important that you look at your financial house,

00:20:27.740 and you fortify first.

00:20:29.600 Life insurance, health insurance, home and auto insurance.

00:20:33.340 We can talk about the other things later.

00:20:34.820 But for the most part, that's what you need.

00:20:36.880 Life insurance, health insurance, home and auto insurance.

00:20:39.620 Because those things will cripple you.

00:20:42.380 Okay?

00:20:42.680 If there's like pet insurance.

00:20:44.580 If your pet gets sick, I'm not wishing that on anybody by any means.

00:20:49.220 But I'm telling you, you could probably handle that.

00:20:53.400 Either you don't have the surgery performed or you do, but you can handle it.

00:20:56.800 I remember years ago, the best dog I ever had, German Shepherd, Sarge.

00:21:01.500 He was struggling.

00:21:04.160 This is a long story short.

00:21:05.500 But he was struggling to walk.

00:21:09.240 And I thought something was wrong with his hips.

00:21:10.800 And I remember the morning that I woke him up out of my son's bed because he wouldn't move.

00:21:14.500 And I picked him up and I took him outside.

00:21:16.520 And he just struggled to even walk around outside to go to the bathroom in the morning.

00:21:22.100 And I brought him in and we took him to the vet.

00:21:24.160 And the vet said, we actually don't know what's going on.

00:21:26.400 We've checked for ticks.

00:21:27.400 And we've checked for Lyme disease and tick-borne illnesses.

00:21:30.620 And we've checked all the things that we would normally check.

00:21:32.920 And we don't know what's going on.

00:21:33.980 And you need to take him to the animal hospital.

00:21:41.140 They'll run some tests.

00:21:43.080 So we did.

00:21:43.980 And I thought it was neurological.

00:21:45.500 It looked like it was a neurological issue.

00:21:47.260 And we took him down to the animal hospital.

00:21:49.840 And I said goodbye.

00:21:50.980 And my ex-wife drove him down there. 1.00

00:21:52.480 And I thought, well, he'll be back.

00:21:53.760 We'll get this taken care of.

00:21:54.960 But in my mind, I'm thinking, man, if this is something serious,

00:21:57.480 I have to really contemplate how much I can pay.

00:22:00.540 Like, am I going to pay thousands and thousands of dollars?

00:22:04.760 And what is my limit?

00:22:05.600 And I had my limit.

00:22:06.900 And it's hard to say that, especially for those pet lovers.

00:22:09.620 But we have our limits.

00:22:11.640 It ended up being an inoperable brain tumor.

00:22:15.060 And we made the decision to put him down, unfortunately.

00:22:18.920 But that was the best decision.

00:22:20.420 Now, in our case, we didn't have to make the decision as to how much to spend.

00:22:24.180 But if I had to spend $2,000, $3,000, $4,000, $5,000, $6,000,

00:22:29.720 I would have been able to afford that.

00:22:32.700 It would not have been fun on my bank account.

00:22:36.500 But it would have been manageable.

00:22:38.720 If somebody, you know, bumps into me, that's manageable.

00:22:42.340 If I have a small $1,000 medical thing I need to take care of, it's manageable.

00:22:46.800 Not fun, but I can handle that.

00:22:48.980 What I need to protect when I talk about Fortify is the catastrophic issues.

00:22:53.400 I'm driving down the road.

00:22:54.600 Somebody sideswipes me.

00:22:55.780 And I'm in a coma for two months.

00:22:57.280 Now we're talking about hundreds of thousands of dollars, maybe even into seven figures.

00:23:01.780 And that's going to cripple the family.

00:23:04.700 Or maybe I put somebody into a coma because I hit them.

00:23:08.260 And now I'm being sued for $10 million. 0.85

00:23:10.320 Or maybe they die.

00:23:11.760 And I'm being sued for $10 million.

00:23:14.120 That would cripple me.

00:23:15.380 Or if I die today and my kids have no more means of income, that's going to be crippling for them.

00:23:25.960 Or the house burns to the ground.

00:23:29.120 That's hundreds of thousands of dollars worth of loss.

00:23:32.340 So Fortify first.

00:23:33.400 Protect the big interest first.

00:23:35.260 Number two is to neutralize.

00:23:36.460 What I mean by neutralize is in the concepts of battle, we need to look at what the threats are.

00:23:41.420 And we need to be aware of how we're spending our money, who's asking for money, where the slippage is.

00:23:52.720 And when I say that, what I'm saying is that you all know roughly how much money is coming into the house.

00:23:58.840 But I think very few men actually know how much money is leaving.

00:24:03.760 You know, you might make $100,000.

00:24:05.920 And because you don't spend any time looking at the numbers, you might be spending.

00:24:11.480 $100,000 is roughly $8,000, $8,300 a month.

00:24:15.060 You might be spending $9,000 a month and you don't even know.

00:24:19.740 And maybe that, maybe $1,000, maybe $2,000 or $3,000 is on apps that you don't use.

00:24:25.820 Subscriptions that you haven't picked up for five years.

00:24:29.040 Going to McDonald's, getting that drink in the morning, spending too much on entertainment.

00:24:33.180 Taking that vacation when you're not in the financial position to do it.

00:24:36.060 Because you just don't even look at it.

00:24:38.540 You have to neutralize those threats first by being very aware of all your money coming in and all your money going out.

00:24:45.140 So again, we have fortify, neutralize.

00:24:46.800 And the third component is to attack.

00:24:49.140 Attack means to go on the offense.

00:24:50.980 So now that you've protected yourself, you know your money coming in and out.

00:24:54.480 Now it's time to deploy those resources.

00:24:56.620 Kevin O'Leary, famous on Shark Tank.

00:25:00.420 I'm paraphrasing, but he said almost best that I've ever heard anyways.

00:25:04.900 And he said, I want all my little dollars to go out there into the market and add value.

00:25:10.060 And then come back to me with their little friends that they recruited back into my bank account.

00:25:14.920 And that's what we want.

00:25:16.640 Whether you're investing in a home, a rental property, a vacation rental, the stock market, exotic cars, paintings and art.

00:25:28.060 There's so many crypto.

00:25:29.720 There's so much you can invest in, of course.

00:25:31.660 And be smart.

00:25:32.540 I'm not going to make recommendations on that.

00:25:34.760 We'll bring in financial experts to talk about that.

00:25:36.960 But ultimately, you need to start going on the offense.

00:25:40.400 You need to be offensive when it comes to building wealth in your life.

00:25:43.920 But you need to do it in the proper order.

00:25:45.500 If you're going on the offense, but you haven't fortified your house and you get sideswiped this afternoon, all of that stuff you were doing, irrelevant.

00:25:55.080 Gone.

00:25:55.620 Wiped out.

00:25:56.460 Accessed.

00:25:57.320 Given to other people because you made a mistake or somebody else did.

00:26:01.060 Be aware of it.

00:26:01.800 And the last point here, I alluded to this a little bit earlier, is to know your role.

00:26:08.660 Know your role.

00:26:09.740 What do I mean by that?

00:26:11.060 Well, I mean that you don't need to do it all.

00:26:13.920 In fact, you probably shouldn't do it all.

00:26:16.060 Because there's an opportunity for you to have the information needed or the services that you need to have without having to exert all of your time and attention and resources and energy.

00:26:26.360 A perfect example of that in the financial realm is having a CPA.

00:26:29.820 Now, I know some basic tax structure.

00:26:33.920 I understand the importance of setting up LLCs and how to defer taxes and how to avoid taxes altogether legally.

00:26:44.680 I know how to do some of that.

00:26:46.460 But I have a CPA.

00:26:47.760 And that CPA helps understand the tax code.

00:26:50.980 He looks for all of the loopholes.

00:26:52.780 He exploits legally the opportunities that are there so that I can pay the minimum I possibly can in taxes to the state and federal government.

00:27:02.480 That's an important part of it.

00:27:03.840 If I don't hire that guy and I do it on my own, I'm going to lose thousands, if not tens of thousands, and over a lifetime, hundreds, if not millions of dollars, because I'm unprepared.

00:27:14.660 I'm ill-equipped.

00:27:15.960 So I'm not saying you need to learn everything about it, but you need to have a team in place.

00:27:19.520 So that could be a CPA, potentially a lawyer if you're dealing in business or just even family matters, divorce, that's a big issue, having a lawyer who can help you with that.

00:27:31.080 Might be a financial planner who understands the market better than you and who can help you manage your emotions so that you're making good, prudent, wise financial decisions.

00:27:40.000 So learn everything that you need to learn, but also know your role.

00:27:45.060 Know when to hold them, know when to fold them.

00:27:46.720 Sometimes, for example, when it comes to taxes and payroll and operating expenses, I'm not going to spend time doing that.

00:27:54.120 I know it's important.

00:27:55.580 I have a baseline understanding of it, and I've hired the rest out, two professionals, to be able to take care of it.

00:28:01.260 So know, should I be taking care of this, or should other people be taking care of this?

00:28:06.040 And start building that financial team.

00:28:08.020 The first is a CPA.

00:28:09.000 To me, that's a no-brainer.

00:28:10.880 If you're making any kind of money, especially if you're in a business or have businesses and you're looking for deductions, hiring a CPA is an absolute no-brainer.

00:28:19.460 You're going to pay some, sure, but on the back end, you're going to make back a whole lot more had you not done it.

00:28:25.260 So those are the mindsets of masculine money management. 1.00

00:28:29.120 A little bit of a tongue twister there.

00:28:30.740 Alliteration, the mindsets of masculine money management. 0.99

00:28:33.540 There are seven.

00:28:34.280 There's a whole lot more we could talk about, but I hope you took notes.

00:28:37.780 If you want to know more about this, or you want me to dive deeper into this, or even you have somebody you want me to have on the podcast, Dave Ramsey, for example, is a great example.

00:28:48.280 He's been on the podcast.

00:28:50.860 Mark Madsen is another one who's been on the podcast.

00:28:53.600 I just got an email he wants to come back on, and we'll probably get that arranged.

00:28:57.040 But there are opportunities to learn here, and there are people you want to hear from.

00:29:00.500 And if there are, another one that I'm working on is getting Jeff Rose with Good Financial Sense on the podcast.

00:29:05.140 Very, very early mentor for me.

00:29:08.180 In fact, I credit him with a lot when it comes to launching what we've done here with Order of Man.

00:29:14.320 And we can talk about that when I have him on the podcast.

00:29:16.660 But that's it, guys.

00:29:17.680 The mindsets of masculine money management.

00:29:19.740 Number one, money is a metric of perceived value.

00:29:22.360 Number two, your job is to make a lot of it.

00:29:25.380 Number three, money is a tool.

00:29:27.360 Number four, emotions have no place.

00:29:30.060 Intuition and intelligence do, but emotions do not.

00:29:32.160 Number five, no man has a right to be an amateur in money management.

00:29:36.500 Number six, fortify, neutralize, and attack.

00:29:39.920 And number seven, know your role, when to hire, when to fire, when to let go, and focus on other things.

00:29:46.380 I hope that helps.

00:29:47.060 I hope that serves you guys.

00:29:47.960 Remember, go out there and make a lot of money.

00:29:50.480 Get better at this.

00:29:52.460 Be the man you need to be.

00:29:53.780 Be a man that other people need you to be.

00:29:55.920 And money management is a crucial part of it.

00:29:57.920 We'll be back next week.

00:29:59.080 Until then, go out there, take action, and become the man you are.

00:30:02.160 Thank you for listening to the Order of Man podcast.

00:30:09.700 If you're ready to take charge of your life and be more of the man you were meant to be,

00:30:13.740 we invite you to join the order at orderofman.com.

Order of Man - April 25, 2025

Mindset of Masculine Money Management ｜ FRIDAY FIELD NOTES

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