Passion Struck with John R. Miles
Adrian Brambila on 21 Brutal Money Lessons You Need Now | EP 536
21 Nov 2024
Chapter 1: What are the key money lessons shared by Adrian Brambila?
There shouldn't be a mystery on how to become rich. It's make money and try to keep making more, live under your means and try to save it, and then invest. And actually, I should clarify invest because I've learned many times that when I say the word invest, it's usually not what the other person on the receiving end says invest.
So I'm just going to keep it simple and say invest boringly and automatically invest. stock market, 401k, diversified portfolio of ETS and index funds that meets your goal or target date funds. And so that's it. Boom. We don't need financial books. If it's that simple, how come we don't do it? It's because of the psychology of how we think.
So if you can first have that belief set that you actually are in control, you can make it happen. The tactics and the strategies become easier and you'll be able to see progress. And that's the best thing we can know is that every day we wake up, And we know we're heading towards the right direction of financial freedom.
Adrian, thank you so much for coming on the show today. If people want to learn more about you, where's the best place for them to go?
Awesome. Thanks for having me, John. Okay. So you could for sure get the book where all books are available at Start Thinking Rich, or it's a special place. It's just for everyone here. And this is a way that we can say thanks. If you go to startthinkingrich.com slash John, that's going to have extra bonuses and resources.
That's just for a way that we can say thanks for all your listeners here and having me on. And it has a link to the book, but again, it's include some like sheets and tools and calculators that you can't get anywhere else. Again, just want to say thank you so much for having me.
Thank you so much, Adrian, and congratulations again on this launch. Thank you. Wow, what an incredible conversation with Adrian Brambilla. Today, we uncovered some of the harsh truths about money and financial freedom and explored how intentional decisions can lead to a life of financial success and purpose.
Adrian's insights, whether it's eliminating debt, mastering investments, or embracing a minimalist lifestyle, show that financial freedom isn't reserved for a select few. It's available to anyone willing to prioritize discipline and consistent action. One thought I'd like to leave you with is this. Your financial freedom begins with one intentional choice.
Maybe it's creating a budget, cutting unnecessary expenses, or finally starting that emergency fund. Whatever step you take, let it be a reminder that small consistent actions compound into life-changing results. Financial independence is a journey and the key is simply to begin.
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Chapter 6: What role does accountability play in achieving financial freedom?
Yes.
Yes. My parents right now are living this. So my parents, even though they're both 62, they're making money from now social security. And then I hired them part-time many years ago, but they invested enough that they're good, they're good. And you know what the big problem is now is that they can't spend their money.
It's because they never, they're still operating from a standpoint of 30, 40 years ago when they had nothing, were super broke and came from worse poverty. So now when you get to this retirement age, here's the problem of waiting till the end. You can't make a switch. In fact, I'm saying crazy things to my parents.
And by the way, this is a joke, but I say this to my parents, say, hey, mom and dad, if you leave me, any money for, in fact, at this rate, it's going to be a lot of money and you leave as inheritance, you know what I'm going to do? Day one, I'm going to donate it to the opposing political party of your choice. I'm saying these crazy things because I want them to spend their money.
And so you do need to live today. You do need to find ways to enjoy and live your rich life. And if you're struggling right now, if you do have high interest credit card debt, It doesn't mean, okay, well, Adrian said I need to live my life. I am going to book that trip, even though financially it doesn't make sense.
No, get glimpses of it until you can get full moments of it, until you can get full days of it, until you can get full weeks of it. Because this is the smart way to do about it. It's true. At the beginning... I quit drinking alcohol. I didn't go out to eat. I didn't buy new clothes. I can list all the sacrifices I did in my early 20s to get ahead. Yeah, it wasn't fun.
I wish I could have gone to those things, but I was saving and investing and trying to put as much money as I could so that one day sooner than later, I would be able to live the life of financial freedom. But I also even back then would do things that I loved. One space and spending money. Coffee is often...
a i feel like the go-to attack on fi of like finance books well if you give up your coffee and that five dollars that you get saved can compound in a rough ira one day that would be millions and i think to me i love coffee one of my favorite things i lived in europe i love going to coffee shops
And so I think if you are someone that's an intentionalist and that cup of coffee is your moment to like enjoy your rich life because this is something you're going to do even once you have financial freedom. It's like enjoying a cup of coffee. For me, it's if I can have a cup of coffee outside somewhere in a city on a patio, it's like that is a rich.
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