107_Radical_Retirement_Planning_with_Joshua_Sheats_from_Radical_Personal_Finance
00:00:00.000 | As a parent, you know it's not just baby talk.
00:00:05.000 | Somebody's hungry.
00:00:06.000 | So talk with your baby's doctor about invasive pneumococcal disease, or IPD,
00:00:10.000 | and ask how Prevnar 20 pneumococcal 20-valent conjugate vaccine can help protect them.
00:00:16.000 | Children under 2 are at increased risk,
00:00:18.000 | but Prevnar 20 can help them develop more immunity to 20 strains of bacteria that cause IPD.
00:00:24.000 | Prevnar 20 is approved for children 6 weeks and older
00:00:26.000 | to help prevent infections from 20 strains of bacteria that cause invasive pneumococcal disease.
00:00:31.000 | Do not get Prevnar 20 if your child has had a severe allergic reaction to the vaccine or its ingredients.
00:00:35.000 | Those with weakened immune systems may have a lower response to the vaccine.
00:00:38.000 | Talk to your health care provider before vaccination if your baby was born prematurely.
00:00:41.000 | Side effects may include irritability, pain, redness, swelling at the injection site,
00:00:45.000 | drowsiness, muscle pain, decreased appetite, headache, and fever.
00:00:48.000 | For full prescribing information, please call 1-855-213-2138 or visit Prevnar20.com.
00:00:55.000 | Ask about Prevnar 20 for your baby. Visit AskForPrevnar20.com.
00:01:00.000 | Welcome back, America, to Sound Retirement Radio,
00:01:03.000 | where we bring you concepts, ideas, and strategies designed to help you achieve clarity, confidence,
00:01:08.000 | and freedom as you prepare for and transition through retirement.
00:01:12.000 | And now, here is your host, Jason Parker.
00:01:15.000 | Alrighty, America, welcome back to another round of Sound Retirement Radio.
00:01:19.000 | So glad to have your listening ears tuning in this morning.
00:01:22.000 | If you're driving down the road this morning, remember, you can catch all of these programs
00:01:26.000 | archived online at soundretirementradio.com.
00:01:29.000 | As you know, we're always looking to bring experts onto this program
00:01:32.000 | who we believe can add significant, meaningful value to your financial life
00:01:37.000 | as you prepare for and transition through retirement.
00:01:40.000 | And I've got one of those guests lined up for you this morning.
00:01:42.000 | But before we get going, I like to start the morning with a verse, and I've got one here for us.
00:01:47.000 | Proverbs 18, verse 22.
00:01:52.000 | "He who finds a wife finds what is good and receives favor from the Lord."
00:02:00.000 | Boy, isn't that the truth.
00:02:04.000 | And then, as you all know, I like to start with something kind of fun.
00:02:08.000 | And many of you may not know this, but my grandfather, when he was 65 years old,
00:02:12.000 | he started running one mile per day.
00:02:15.000 | He's 70 now, and we have no idea where he is.
00:02:22.000 | Another stupid joke to share with your friends and family.
00:02:26.000 | So, you guys, before we bring our guest on, as you can hear him laughing there in the background,
00:02:30.000 | I want to share with you, when I was a kid driving down the road, my dad used to love Zig Ziglar.
00:02:36.000 | And one of the things that Zig always said is, "You will have all the success in life you want
00:02:41.000 | by helping as many other people get everything that they want in life."
00:02:45.000 | And I was thinking about our program. We've had some amazing guests over the years.
00:02:48.000 | We've had David Potruk, past CEO of Charles Schwab, on the program.
00:02:52.000 | Rick Edelman, Jane Bryant Quinn, senior editor from Kiplinger Retirement Report.
00:02:56.000 | We've had David Bach, the automatic millionaire.
00:02:58.000 | Dr. John Maxwell, leadership expert.
00:03:01.000 | Dr. Wade Pfau.
00:03:03.000 | I mean, Pat Flynn from Smart Passive Income.
00:03:05.000 | We have had some amazing guests on the program, and this guest in particular
00:03:09.000 | has some really radical approaches to lifestyle, radical, maybe some retirement planning
00:03:15.000 | that we'll talk about today, and a radical approach to personal finance.
00:03:19.000 | With that, folks, you're listening to episode 107.
00:03:22.000 | I want to encourage you to visit us online, but let me bring on and do a proper introduction of our guest today.
00:03:28.000 | You got it, folks.
00:03:33.000 | It is my good fortune to bring Mr. Joshua Sheets from Radical Personal Finance onto the program.
00:03:40.000 | Joshua Sheets, welcome.
00:03:42.000 | I'm happy to be here, and I'm sorry you heard me laughing in the background,
00:03:45.000 | but I love corny jokes, so things like that make my day.
00:03:49.000 | Hey, man, we really appreciate it. You're doing some awesome work out there.
00:03:52.000 | I do want to give our listeners a proper introduction, so I'm just going to go ahead
00:03:55.000 | and tell them a little bit about your formal bio here.
00:03:57.000 | Joshua Sheets, he has so many letters after his name, I'm not going to try to say them all.
00:04:02.000 | He's the world's leading authority on integrating lifestyle goals and money goals without conflict.
00:04:07.000 | He teaches normal people how to seamlessly connect the science of financial planning
00:04:12.000 | with the joy of goal achievement.
00:04:15.000 | Joshua is dedicated to helping normal people achieve financial freedom
00:04:19.000 | by merging the creative and crazy ideas from the world of personal finance
00:04:24.000 | with academic integrity of formal financial planning.
00:04:28.000 | He simplifies the complex topics of money and makes the boring financial mumbo jumbo less boring.
00:04:34.000 | Joshua is an expert financial planner with a lifelong focus on advanced education.
00:04:39.000 | And like I say, Joshua, I'm not going to go through all of your designations and your education,
00:04:43.000 | but you have a lot of them, and we sure appreciate you being willing to share some of that with our listeners today.
00:04:47.000 | I'm so glad to be here.
00:04:49.000 | So, folks, if you don't know who Joshua is, he has a podcast out there called Radical Personal Finance,
00:04:55.000 | and a lot of our listeners that are driving down the road this morning in Seattle listening to the radio show,
00:04:59.000 | you may not do podcasts, but I want to encourage you, this is an awesome podcast you can subscribe to.
00:05:04.000 | And before we get started on retirement planning today, Joshua,
00:05:07.000 | I want to ask you some just personal questions about your journey.
00:05:11.000 | So the first one is, why did you start Radical Personal Finance?
00:05:15.000 | Partly because what you read in my bio.
00:05:18.000 | I come from the world, I started off in the personal finance world as somebody who was interested in finance.
00:05:24.000 | I read all the books of all the authors that you listed when talking about who you had on the show,
00:05:29.000 | whether it's David Bach or Jane Bryant Quinn, etc.
00:05:32.000 | And I always absorbed those resources as a layperson.
00:05:36.000 | Then I decided to go into the world of technical formal financial planning,
00:05:40.000 | and I started layering in to that personal finance background,
00:05:45.000 | the world of professional financial planning knowledge.
00:05:48.000 | I became a certified financial planner and a chartered life underwriter and a chartered financial consultant.
00:05:53.000 | I'm doing a master's degree in financial planning.
00:05:55.000 | But all of that is kind of the academic mumbo-jumbo.
00:05:58.000 | It's the stuff that you learn to get you where you want to go in a more efficient way.
00:06:03.000 | But as I worked with clients, I realized that there was a major disconnect.
00:06:06.000 | There were a lot of people who were very good at talking about the simple personal finance things that work.
00:06:13.000 | David Bach made a fortune on the latte factor.
00:06:15.000 | That works. That's helpful.
00:06:17.000 | And then there's a lot of really great professional financial advisors who were great at building a professional portfolio
00:06:24.000 | off of the money that you save with the latte factor by not buying a latte every day.
00:06:28.000 | But in terms of actually connecting the design of that portfolio and the appropriate type of account to use
00:06:35.000 | with the goals of the person, I found that there was nobody that I could find speaking to that,
00:06:40.000 | talking about the meaning behind the money.
00:06:42.000 | And so I decided to do my best to try to cross that bridge for people.
00:06:47.000 | And you're doing an awesome job.
00:06:48.000 | As I understand, over 2 million downloads now on the podcast.
00:06:52.000 | You're having a lot of success, not only educating but entertaining folks.
00:06:56.000 | And that's awesome.
00:06:57.000 | I want to transition to maybe more of a personal question here.
00:07:01.000 | As you think back into your early childhood, think back as far as you can, what's your first memory of money?
00:07:09.000 | I stole it.
00:07:12.000 | When I was a kid, I did a lot of work.
00:07:19.000 | One of the great things that my parents did for me was have an opportunity for me to work.
00:07:25.000 | And that's probably the more appropriate thing to talk about.
00:07:28.000 | But the biggest memory that I have of my earliest memory is the fact that I realized one day
00:07:34.000 | that money was in my mother's purse and that all I needed to do was slip into my parents' room
00:07:40.000 | at some point when it was unattended and take any money that I needed out of their purse.
00:07:44.000 | And I did that for quite a while until ultimately my parents caught on
00:07:48.000 | and we had a time of appropriate discipline and we had many, many days.
00:07:55.000 | I don't remember exactly all the circumstances, but a lot of work in order to make restitution for my theft.
00:08:01.000 | And I learned that stealing money was not the way to go about getting it and keeping it for the long term.
00:08:07.000 | Wow, that's a powerful, powerful memory.
00:08:10.000 | You know, I've had the good fortune of having some amazing people mentor me and shepherd me throughout my career.
00:08:17.000 | And I was just curious if there are any people like that that really significantly have influenced you recently,
00:08:23.000 | maybe people that you consider to be mentors of yours.
00:08:27.000 | It sounds always silly to say your parents, but I'll say given the story I just shared, I'll just say my parents.
00:08:34.000 | And let me give two specific examples of how that was helpful.
00:08:38.000 | Two things I really am grateful for from my father as an early child.
00:08:43.000 | Number one, my dad worked hard to give me lots of opportunities to work.
00:08:46.000 | And now being a father myself, I recognize how hard that was.
00:08:50.000 | It's always easier as a father to give your child money than it is to arrange opportunities for your child to work.
00:08:59.000 | And yet, if you give your child money, you create a dependent child,
00:09:03.000 | someone that Dr. Thomas Stanley would call someone who needs economic outpatient care for the rest of their life.
00:09:09.000 | And many parents face this situation with the so-called boomerang generation.
00:09:13.000 | But if you can work to arrange work opportunities for your child,
00:09:17.000 | you have a fighting chance of helping them to build independence and self-sufficiency.
00:09:22.000 | And so my dad worked very, very hard over the years to try to help me have opportunities.
00:09:28.000 | I remember from sixth grade on, every single summer I had a full-time job doing something different.
00:09:34.000 | And that was so helpful to learn how to submit to bosses of all different types,
00:09:38.000 | to learn various job skills that created in me a tremendous amount of self-confidence just from the variety of work that I had.
00:09:45.000 | Second example of how in touch he was and what a great difference he made was there was a time in high school that I wasted all the money that I earned from a summer job.
00:09:55.000 | I, at that point in time, was attending a private school.
00:09:58.000 | One of the things that my dad did to help me be more appreciative and grateful for the educational opportunity I had to attend a private high school was that I contributed for my education.
00:10:07.000 | So I paid him $100 a month to chip in towards the school bill.
00:10:11.000 | And he did that, I think, primarily as a character-building exercise.
00:10:14.000 | So the rule was that I would work all summer to save money so that I could be able to pay my school bill through the school year.
00:10:20.000 | Now, lest anyone start hurling accusations of child abuse at my father, if I didn't have the money, he probably would have still paid the bill, I think.
00:10:29.000 | Although I've never asked him if he would have or not.
00:10:31.000 | But one summer I was working, and at that time I had kind of an autonomous job where I was doing work, but I could come and go as I pleased.
00:10:40.000 | And so I got in the habit of going to the local gas station.
00:10:45.000 | In the morning I would go and I'd get a coffee and a pastry.
00:10:49.000 | I'd go during my lunch break, and this one particular place had some really great chicken wings, and I'd buy a bunch of chicken wings.
00:10:56.000 | And then I'd go after work, because I was working on a farm at that point, I'd go after work and I'd buy a drink and something else to eat.
00:11:01.000 | And I got to the end of the summer, and we're sitting down, and usually I would make $2,000 or $3,000 in the summer, and that was enough to carry my bills and give me some spending money through the academic school year.
00:11:09.000 | But I got to the end of that summer, and we're sitting down doing some accounting, and he's just asking me about how things are going, and I had no money in my bank account.
00:11:16.000 | I had $700 or $800 when I needed $2,000, and he said, "Where did your money go?"
00:11:21.000 | And so he forced me to go and do a forensic accounting of my bank statements to figure out where all my money had gone.
00:11:28.000 | And I was utterly humiliated to find that I had spent, I don't want to exaggerate the number, but I would say over $1,000 that summer.
00:11:37.000 | Basically, more than half the money I'd earned. I'd spent over $1,000 at the convenience store.
00:11:43.000 | And that entire school year, I was broke because I'd wasted and squandered all the money.
00:11:49.000 | And since that day, I am much more parsimonious about the money that I spend in convenience stores than I ever was, and I learned an excellent lesson, which has stood me well over the years.
00:11:58.000 | That is an awesome story. Folks, if you're driving down the road this morning, if you're one of our listeners and you have children or you have adult children,
00:12:06.000 | you know, Joshua, he's from a younger generation. He's from that millennial group, and he's out there and he's on his own and he's making a way for himself because of these things that he learned, these life lessons that he learned.
00:12:18.000 | And so I just, I really appreciate you sharing some of these stories.
00:12:21.000 | At the same time, Joshua, you're a husband, you're a dad, you have a couple of kids.
00:12:25.000 | I was looking at that beautiful picture of your family on your website, and we all make mistakes with money.
00:12:33.000 | And so I was hoping maybe you would share, as you've been married and as a father, what's been one of the biggest financial mistakes you've made, and what did you learn from it?
00:12:44.000 | Two of them. The biggest financial mistake I made was in my business.
00:12:49.000 | I started working as a professional financial advisor when I was 23 years old. I did that from 23 through 29 years old.
00:12:59.000 | And during the course of that time, the financial advice business is like any new business.
00:13:04.000 | You put in a ton of work and you don't make much money in the beginning, and as you're trying to scale your business, you wind up reinvesting most of your profits back into your business.
00:13:13.000 | And I foolishly allowed my business expenses to get way out of hand of where they should have been.
00:13:18.000 | I hired staff, and I overhired staff. I hired somebody for too much time.
00:13:23.000 | I didn't put them to work, and then all of the other associated expenses incurred with hiring staff of additional office space, computer equipment, etc., that I hired for them to help me expand my business, put me deeply into debt.
00:13:36.000 | And I woke up one time after a few years of financial advice, and I'm sitting down looking, and I had chosen to go into debt instead of increasing my income based upon them freeing up the time.
00:13:45.000 | And I was sitting there and I'm wondering, "Where has all my money gone?"
00:13:48.000 | And as I did a forensic accounting, I guess maybe I didn't learn the lesson I should have learned when I was in high school, but as I did a forensic accounting of it, I realized that it had all gone into the salary of my staff.
00:13:59.000 | But I had not set up the appropriate systems to make sure that my productivity was increasing based upon the hiring of that staff.
00:14:06.000 | I wound up laying staff off, getting rid of the office space, etc., but it took me a year or two of hard work to get that debt paid off.
00:14:14.000 | And it was a deeply difficult time in my life to get that debt paid off, and I felt utterly foolish.
00:14:20.000 | Because a lot of times when you borrow money, at least you have something to show for it.
00:14:23.000 | You have pictures of a great vacation, you have a cool car sitting out in the driveway, or you have a diploma on your wall.
00:14:29.000 | The worst thing, though, is to borrow money to pay to other people because they've got the good stuff to show for it, and you've just got a pile of debt.
00:14:36.000 | That was a huge lesson that I learned, and it still affects me to this day.
00:14:40.000 | It's easy to have success pull you into that trap, that temptation of debt.
00:14:47.000 | So if you're out there, if you're a business owner, and you're thinking about taking on debt for an opportunity to grow, be very careful with that.
00:14:54.000 | There's lessons to be learned, and the borrower is slave to the lender, as we're reminded.
00:14:59.000 | So you said there was two parts to that. What was the other?
00:15:01.000 | Yeah, the other thing is a little bit of a mixture, where I would say one of the biggest mistakes that I made,
00:15:06.000 | although it wound up making me money and not costing me money, but I'm thankful for that because I was careful in it,
00:15:12.000 | was buying a house at an early age.
00:15:14.000 | My wife and I, after we married, we lived our first year of marriage in a very small apartment.
00:15:19.000 | We lived in a 238 square foot studio apartment in downtown West Palm Beach.
00:15:22.000 | We paid $500 a month for it. We had a great time. We loved it.
00:15:25.000 | But after a year, I had been pretty stable. I'd been in my business for a while.
00:15:29.000 | I was doing fine financially. We'd saved up money, and I wanted to go ahead and buy a house.
00:15:33.000 | It seemed like a good time in the local market conditions.
00:15:36.000 | We found a house that seemed perfect for us, and we bought it.
00:15:40.000 | But I had always been taught to put down 20% on the house.
00:15:44.000 | So we'd saved, at that point, a significant amount of money in retirement accounts and in non-retirement accounts.
00:15:50.000 | This house that we chose to buy, it was within many of the so-called guidelines for home ownership.
00:15:55.000 | It was a reasonable purchase, and we went ahead and chose to buy it.
00:15:59.000 | We put 20% down on the house.
00:16:03.000 | In the choice of doing that, plus some other expenses, unexpected and expected,
00:16:08.000 | including having a child, wiped out most of our cash.
00:16:11.000 | We put $50,000 into the house to get it 20% down.
00:16:15.000 | Six months after buying the house, I decided that I was going to unexpectedly consider moving on and starting a business.
00:16:26.000 | I didn't have any liquid capital to speak of in order to get my business started.
00:16:31.000 | All my money was locked in my house, and it was locked in retirement accounts.
00:16:34.000 | I realized the massive inflexibility and the problem of having money tied up in a house,
00:16:40.000 | especially in the early stages of wealth building.
00:16:44.000 | Thankfully, the story ended well. I was able to sell my house, made a decent profit, and got all my money back.
00:16:49.000 | Since then, it's been fantastic to have the capital back in my bank account.
00:16:53.000 | I learned a lesson, which I taught on my show.
00:16:56.000 | I was a financial advisor. I was the one who advised people to put down 20%.
00:17:01.000 | I came to one of two rules. I said, "In the future, I will either put down as little money as possible,
00:17:08.000 | because you're far safer to have $50,000 sitting in a bank account and a mortgage payment of an extra $100 a month,
00:17:14.000 | a $1,500 a month mortgage payment, than you are to have less money in the bank account and a $100 or less mortgage payment.
00:17:21.000 | You still have the $1,400 a month mortgage payment, not the $1,500.
00:17:24.000 | In the future, I'll either put down as little money as possible or pay cash for the house."
00:17:29.000 | I realized that everywhere in between is a lot riskier than either of those two extremes.
00:17:35.000 | That was a hard lesson for me. Thankfully, it ended well, but I learned that one the hard way.
00:17:39.000 | A lot of nuggets of wisdom in this interview, folks.
00:17:41.000 | If you're driving down the road, I really hope you're enjoying this.
00:17:43.000 | If you're not going to be able to catch the whole thing, visit us online at soundretirementplanning.com.
00:17:48.000 | You're listening to Episode 107.
00:17:50.000 | I want to transition Joshua into some more, because this show is all about retirement.
00:17:54.000 | It's about people that are just getting ready to retire and people that have recently retired.
00:17:58.000 | You worked in the financial services industry. You've got a lot of knowledge in this area.
00:18:03.000 | As you think about retirement planning, what's the most important component to a good retirement plan as far as you're concerned?
00:18:09.000 | A lot of times we ask the question, and people jump quickly to what type of account to use, how to save, etc.
00:18:16.000 | I think the first most important place to start is by planning not to retire.
00:18:22.000 | Here's what I mean. When I was working in retirement planning, I noticed that often the people who could most afford to retire chose not to,
00:18:31.000 | or at least chose to delay it for a longer period of time.
00:18:34.000 | Donald Trump doesn't have to run for president, but he's running for president anyway.
00:18:38.000 | There's a reason why rich people keep on working.
00:18:42.000 | What I realized is that rich people keep on working because it's more meaningful to them about something other than just money.
00:18:49.000 | Many times, the people that are desperate to retire because they don't like their job, they're the ones who often can never accumulate the money.
00:18:56.000 | I think it's a good question to ask, as we financial planners like to ask, to say, "Hey, what would you do if you were retired? Let's plan out that lifestyle, etc."
00:19:03.000 | But a better place to start is to say, "What would you do if you knew you could never retire?"
00:19:11.000 | Because that's a situation that most people, statistically speaking, most people are going to be in a situation where they can never or choose never to retire.
00:19:21.000 | So before we work on a plan to retire comfortably, let's build a plan to work comfortably first and then move on to the retirement plan.
00:19:32.000 | That's awesome. That's really good advice.
00:19:35.000 | One of the things we teach here is that retirement is all about cash flow. It's your income that will determine your lifestyle in retirement.
00:19:42.000 | But I've got to tell you, one of the things that's funny about money is there's never enough.
00:19:46.000 | Regardless of whether or not you've saved $50,000, $100,000, $1 million, $10 million, we meet with people.
00:19:53.000 | The thing that always changes, Joshua, is their lifestyle changes as their income increases.
00:19:58.000 | One of the things you talk a lot about is lifestyle design.
00:20:01.000 | How do you keep that in check? How would you recommend our listeners keep their lifestyle in check without spending more and more every year?
00:20:10.000 | I think first is just to be aware of it. Most people have no idea about how much money they spend.
00:20:15.000 | Those of us who've worked as professional financial advisors will attest to that.
00:20:20.000 | Because even if somebody knows their basic level of expenses, they only know it on a monthly basis.
00:20:25.000 | They say, "Oh, my mortgage payment is about such and such. My phone bill is such and such. My electric bill."
00:20:30.000 | But they forget about all the other expenses.
00:20:33.000 | So, they don't know how much they actually spend.
00:20:36.000 | Because they're not aware of that number, they can't actually create a meaningful plan towards that number.
00:20:41.000 | So, in order to focus on that, you've got to be conscious of it and to be aware of it.
00:20:47.000 | Awareness is the first step.
00:20:49.000 | The thing you described as far as the amount of expenses increasing, that happens in a couple of ways.
00:20:56.000 | I always laugh when people present this idea of finance.
00:21:00.000 | Where they say, "The great thing is as you get older, you're going to pay off your mortgage. You're going to pay off your debts.
00:21:06.000 | You're going to have more money to spend. You're just going to have an overall more frugal lifestyle."
00:21:12.000 | Well, there's a ring of truth to it because it can be true in many situations.
00:21:16.000 | But in observing and working with actual people, oftentimes it's not true.
00:21:21.000 | People spend more money.
00:21:22.000 | And the reason is because they don't have a specific goal that's more important to them than the money that they spend.
00:21:30.000 | So, the first thing is be aware of it.
00:21:32.000 | The second thing is create a goal that's compelling.
00:21:34.000 | Those who actually save and successfully retire, go back from active earned income because they're choosing to do something else,
00:21:42.000 | are the ones who set that as a goal and a priority and made a plan to get there.
00:21:46.000 | And it's the same in anything.
00:21:48.000 | If you want your life to count for more than just how fancy your house was and whether you actually bought the second boat at the second house on the weekend,
00:21:56.000 | you've got to crystallize the goals that are important to you and then make a plan for systematically investing into those things.
00:22:05.000 | Those are the people who ultimately are able to achieve their goals.
00:22:08.000 | I've got another question for you before we end today.
00:22:10.000 | And this is one that I really want to get in and we only got a couple minutes.
00:22:13.000 | But you have this beautiful family now. You're married. You've got a couple of kids.
00:22:18.000 | And I want you to imagine that we're standing, well, you're not, but we're at your funeral.
00:22:24.000 | And your son walks up to the front of the congregation, the front of the church, the front of wherever the service is being held.
00:22:31.000 | And he kind of dramatically holds up one finger and he says, "My dad, he taught me this one thing."
00:22:38.000 | And then he goes on to share what that was.
00:22:40.000 | What do you hope that legacy looks like, Joshua?
00:22:43.000 | For me, it would be my dad was a man of integrity because the thing that bothers me the most is hypocrisy.
00:22:55.000 | And I think most people share that dislike of hypocrisy.
00:23:01.000 | And so I desire very much to be known to my family as somebody who was consistent.
00:23:12.000 | Those who are in our family are the ones who know who we really are.
00:23:15.000 | And often, with my podcast, it's heard all around the world, but I always try to get together with listeners when they come through West Palm Beach.
00:23:21.000 | And the piece of feedback that I most value from people is when they say to me that, you know, you're the same person on the show as you are here in real life.
00:23:31.000 | I desire that that consistency is the same in every way.
00:23:36.000 | And to me, money is one of the least important aspects of that.
00:23:40.000 | The whole point of money is to fund the things that are truly important.
00:23:45.000 | You know, Jesus taught his disciples to do not lay up for yourselves treasures on earth where moth and rust destroy and where thieves break in and steal.
00:23:54.000 | But lay up for yourselves treasures in heaven where neither moth nor rust destroys and where thieves do not break in and steal.
00:24:01.000 | For where your treasure is, there your heart will be also.
00:24:04.000 | And my hope is that at that time, especially as it relates here to a money show, my hope is that hopefully all the money's gone.
00:24:11.000 | I desire, my hope would be to give away all the money before I die.
00:24:15.000 | Now, if I die prematurely, it might have to go in the terms of a will.
00:24:18.000 | But if I'm dying as an old man, I want all the money to be gone and all the money to be invested during my lifetime.
00:24:23.000 | So as the old saying goes, I want to balance my last check because that's my job is the proper stewardship.
00:24:30.000 | And I need to make sure that all of my plans with the money are invested into an eternal kingdom.
00:24:36.000 | And so integrity and mission to me would be the primary things that I am working to do so that my kid can give that eulogy.
00:24:47.000 | Man, that is awesome.
00:24:49.000 | It's awesome that you have the courage to be able to say that in this world that we live in today where there's a lot of consequences.
00:24:54.000 | But Joshua, I realize we're out of time, folks.
00:24:57.000 | Listen to Radical Personal Finance.
00:24:59.000 | This is episode 107, but visit Joshua's blog.
00:25:01.000 | Joshua, thank you for being a guest today.
00:25:03.000 | Thanks for having me.
00:25:05.000 | Information and opinions expressed here are believed to be accurate and complete, for general information only,
00:25:10.000 | and should not be construed as specific tax, legal, or financial advice for any individual
00:25:15.000 | and does not constitute a solicitation for any securities or insurance products.
00:25:19.000 | Please consult with your financial professional before taking action on anything discussed in this program.
00:25:24.000 | Parker Financial, its representatives, or its affiliates have no liability for investment decisions
00:25:29.000 | or other actions taken or made by you based on the information provided in this program.
00:25:34.000 | All insurance-related discussions are subject to the claims-paying ability of the company.
00:25:38.000 | Investing involves risk.
00:25:40.000 | Jason Parker is the president of Parker Financial, an independent, fee-based wealth management firm
00:25:45.000 | located at 9057 Washington Avenue NW, Silverdale, Washington.
00:25:49.000 | For additional information, call 1-800-514-5046 or visit us online at soundretirementplanning.com.
00:25:57.000 | [Music]
00:26:05.000 | Don't just dream about paradise. Live it with Fiji Airways.
00:26:10.000 | Escape the ordinary with Fiji Airways Global Beat the Rush Sale.
00:26:14.000 | Immerse yourself in white sandy beaches or dive deep into coral reefs.
00:26:19.000 | Fiji Airways has flights to Nadi starting at just $748 for light and just $798 for value.
00:26:26.000 | Discover your tropical dreams at FijiAirways.com.
00:26:30.000 | That's FijiAirways.com. From here to happy. Flying direct with Fiji Airways.
00:26:35.000 | Airways.