The First 48 Hours + Tony Robins Podcast Notes

Lessons from the first 48 hours

• Gas is likely going to be our largest expense. 10mpg is not a lot of miles.
• Sunroof is amazing, even when cloudy you can see just fine without draining your battery for lights. 
• Propane is my new best friend. I made an amazing fantastic meal in the camper and it allowed us to have heat when it was only 35 degrees outside.
• You can sleep overnight at a Walmart and not get mugged. True story. 
• Learned how to replace a fuse when it gets blown due to trying to plug something in that really should not be plugged in (no smoothies for us)
• Planet Fitness membership was a good choice. After driving around in a bumpy truck you can work out, sit in a massage chair, and have a nice long hot shower.
• Being “home” literally anywhere is an amazing feeling.
• “Winter” still exists in the South. Maybe in the same way Southerners always assume that Minnesota is a never ending frozen tundra, I assumed that anywhere in the bottom half of the country had tolerable weather all year around. All the way down in Oklahoma we are still in 40 degree weather and many of the trees are still bare. Lesson learned. 

Listened to School of Greatness podcast with Lewis Howes. He was interviewing the legendary Tony Robins, one of the most well known life coaches in the world. The topic was wealth, financial and spiritual. It was interesting because he started out very basic, the importance of investing and compounding interest, really finance 101 stuff. He kicked it up when he started going into market trends and the value of dollar cost averaging. He finished it off with some good emotional lessons, as you should always expect from Tony Robins. Very well done interview, he was able to take complex subjects and break them down into easy to understand concepts.

My personal show notes:

We are all financial traders. We all trade time for money.

Pick a percentage that you will never touch. Seems hard at first but start with 3% and increase slightly every time you get a raise. Long rant about compounding interest.

You will never earn your way to wealth unless you apply the principals of saving and investing. People can earn a lot of money and still be broke, think about all the wealthy actors and sports players who file for bankrupcy. The ultimate goal is to create income for life without working (aka – passive income).

Stocks continually go up and down. Corrections happen every year. It will drop about 14% and last an average of 56 days. If it drops more than that it is considered a bear market. But it never goes down forever, eventually it has to go back up. Bear markets are always followed by bull markets.

The most dangerous thing is to not be in the market at all because you get nothing for cash. However if you are in the market, beware of fees.

The worst thoughts are the ones that include the concepts of Loss, Less and Never. Lost opportunity, lost time, lost money. Never have love again, never be free, never be wealthy. Do you tend to focus more on what you have or what’s missing? It’s hard to be happy when you’re only thinking about what you don’t have. When you have expectations you will always be miserable

Antidote is appreciation. When you start to feel negative emotions, cut them off by focusing on gratitude and things you love. You can’t be angry and grateful at the same time. You always have the ability to choose what you focus on.