Manage Your Money So You Make More with Rob Schulz

00:00 In this episode of the Team Superdad podcast, we talk managing your money and getting rich with finance guru, dad, and awesome bloke, Rob Schulz, Roll theme. Welcome to Team Super Dad. Real dads creating their best lives ever. More time, more money, more fun. You are not alone. You're on Team Super Dad. Yes, welcome to the Team Super Dad podcast. It is great to have you back as always. However you found us, whether you're watching, whether you're listening, it's great to have you on board. Remember, remember, please share, like, comment, do the business. You know, every dad,

00:45 every dad knows another dad. Surely you do. Every mum knows a dad. That is for certain. Whether it's your granddad, your uncle, you know, basically just share this with other men in your life so we can grow the Team Superdad message and help as many dads as possible create the life they desire and get out of the life they feel stuck in. Today's episode is with Rob Schulz, a guy from America, which is always nice. It helps me feel connected to my American family and my connections over there, my friends and connections over there. But yeah, Rob is a accountant, which isn't always the most exciting thing, is it?

01:21 But he's actually a bit of a finance guru. He's got an amazing book out and he's literally recognized as one of the top financial planners and advisors in the States, which is a pretty big place, as we all know. This subject, you know, the subject of money is vital for me inside of Team Superdad. It is one of our F5 fitness, focus, finance, family, and fun. And it comes in two areas. You've got to manage your money well. You know, the stresses around finances ruin relationships. They absolutely crucify them. And it doesn't need to be that way. We're in this together. We've got to be open, transparent. We've got to get organized where energy, where attention goes, energy flows. And your finances are no different.

02:03 So there's the first part of looking after them. And we're talking about that with Rob today. As much as possible, I try and get some practical advice from him and some steps we can take. Rob has agreed to come and do some workshops inside of the Hero Academy, which is our premium program for super dads around the world. We've already got Raymond Holt who talks finance in there with us. And as well as the managing your money, we've got the creating money. So whether that's share trading, we work closely with Jason Graystone and the Tears of Freedom crew around stocks and shares and investments. We've got property people of all shapes and sizes in there from Daniel Latto to

02:48 Dick Dabner to what's the guy? Daniel Hill. I always try and call him Damon Hill, but he was a race driver. You know, these are all experts in the property field and making money online. You know, starting a business, whether it's a Spotify, not a Spotify, a Shopify shop, whether it's an affiliate business, whether it's a t-shirt business, whether it's creating a course or a program. There's so many ways in which we can create second streams of income. And we just have to both manage our money and grow our money. And that's why finance is a core part of the Team Superdad foundations and one of our F5 core tenants. So if you don't know about that, then come over and join us. The free group is on teamsuperdad.com forward slash network.

03:33 That's pretty easy, teamsuperdad.com forward slash network. And then once you're inside there, you'll find out all about the power code, our 10-week program. You'll find out about the Hero Academy, which is our ongoing membership group. And the F5, which runs throughout everything we do, focus, fitness, finance, family, and fun. Because if you don't manage all those things, then guess what? Your life ain't going to be a lot of fun. And that's why so many men feel pretty broken these days. And exciting news is that a whole version flavor and route in for women is on its way.

04:09 Team Superdad was always envisioned as a community for like-minded, empowered mums and dads to create positive relationships, to find new relationships, to be awesome parents. And that's what it's all about. So spread the word, come and join us and enjoy this conversation with Rob Schulz. I'll see you on the other side. Boom, Rob. Hey, Johnny. Good to see you. How you doing? Doing really good. Thanks for having me on. Guys, my pleasure. Kudos to your team as well. They did a great job in managing that for you. So it's always nice to see a guy who's got his team kind of looking out for him.

04:52 We had a few technical issues. I thought you were going to be on this morning. I was like, hang on a minute, 10.30. Yeah. of the night. No, no, we had, yeah, we're in different time zones, there's no doubt. And sometimes Google or whoever, whatever program you're using, doesn't know how to handle all that stuff. Yeah. Well, thankfully we got it sorted. We got it sorted. And as I said in the introduction, it's great to have you on tonight. One of the five elements of the Team Superdad F5 is finances and such a vital part of everyday life, let alone our future and everything.

05:33 And I know from my history, I don't, I mean, sitting here today, you know, it's one of the wonderful things about doing a podcast and having all the coaches that I've got inside the Team Superdad community and the hero program is that I get to learn as well. You know, I've got all these dads in our community and some kind of leader for them, but I'm on the same journey. So it's brilliant for me to be able to have this conversation with you tonight and hear from your experience. How long have we been talking like 20, as this said it said in your profile? Is it 25 years experience in financial planning? Yeah, I've been doing it for a good long while.

06:17 And it's been fun. And, you know, my kids, I have four kids that we raised and they're all, I guess we're empty nesters now, you know, because the youngest is a freshman in college. So the nest is empty, but so are my pockets because I'm still paying for college and things like that and auto insurance and whatever. So it's a little anticlimactic to a certain extent. But yeah, that's where we are these days. And do they like coming home? What kids have you got? How's it break down? Well, I have, I like to call it two sets with the same wife because we've got two older and two younger.

07:03 I've been married for over 30 years and we've got the two older that are 29 and 25, both girls. And the 25 year old is pregnant. So we're going to have our first grandbaby before too long. And then I have a boy who's 20 and a girl who's 19. Oh, brilliant. Brilliant. Yeah, I've got a boy and a girl. So I love having both. I've got a brother myself. I do have an older sister as well. But I remember it hadn't really dawned on me what having a daughter was going to be like. And I pulled up at the lights one night and it suddenly hit me that I was going to walk her down the aisle one day.

07:44 And the next thing I know, I'm sat there crying. Oh, I, yeah. And, you know, I try not to be an overly emotional person. I try not to be. And I just like, I cried so hard coming down the aisle that first time. Oh, my goodness. Oh, that was the hardest thing. I think that's the hardest thing I've ever done. Wow. And she married a great guy, and I was happy for him and all that. But still, I don't know why, but that was really one of the most emotional moments in my life. Yeah. Well, I'm getting goosebumps thinking about it. You're giving, I mean, like, you're giving your daughter away.

08:22 Oh, my gosh. Yeah. Well, these words don't have much meaning or substance until actually experiencing it. Then you suddenly go, oh my gosh, now I know what they actually meant when they said giving your daughter away. No, I think that's part of it. I think it snuck up on me a little bit. So I wasn't able to handle it very well. Yeah. Well, that's a perfect intro into the subject because I think for most people, the money subject sneaks up on them up on them a little bit. And, you know, listen, I love so much about your story and your journey.

09:02 But, you know, people like to get to know each other on a podcast. So we'll dig into just a tiny bit of that history. But I know from your career journey, it started in the Navy, right? How did you end up being a financial planner in the Navy? What was that? I don't know. How did any of us end up where we are, right? You were going to go and be a sailor, right? Or shoot guns or do whatever. Yeah. Yeah, all that stuff. Well, I don't know. I went to, well, they paid for my school, first of all.

09:40 Oh, okay. That's an American thing, right? The army or one of the forces pays for you to go to college. Is that how that works? It's yeah, it's really different. You know, so we have academies too. You know, so there's a, there's a naval academy that you can go to. And that's one way that officers are trained. Another way is through what's called ROTC. And that's where you can go to a number of schools, like the University of Texas, where I went. And they pay for your college. And while you're in college, you do some training, but it's so much better because, you know, I wore a uniform like once a week.

10:22 And the rest of the time, I was just a college kid, you know. And then when you get out, you're given a commission in the Navy and you go do your thing. And then there's a commitment after that, generally four years. And that's what I did. I ended up doing my four years. But while I was at the University of Texas, I studied accounting, which is kind of weird because most naval officers are engineers. But I was an accountant. So you finish uni and then you owe them four years to pay it back. And then you, so what kind of year is this? Your kid's 29. Was that like, blind me, did you catch the flipping tail end of Iraq and that sort of stuff?

11:07 Yeah, I caught the tail end of all that stuff, like 90 to 94. You know, I went over there or anything. But we also did a lot of the drug interdiction ops in the Caribbean and a couple of little things that would pop up from time to time. Like pirates and stuff. Yeah, a little bit. I used to join my kid with my kids. I had a sword. You get a sword. And what did you do with a sword? I was like, well, I mean, I fought pirates. And they're like, what are you talking about? I kept that going. I don't know. I think my 30-year, my 29-year-old, I think she still thinks that we fought pirates.

11:49 You kept it going longer than Santa. That's absolutely yours. Yes, I did. Yes, I did. No doubt. Yeah, totally. So you're on a boat. And just like in everyday life, you've got sailors who have got wives back at shore. They've got young families. And you're helping them basically unravel their financial dramas, basically. Is that right? Yeah. And so I was uniquely suited to that because of the fact that I had some training. And if you read my book, you'll see I have some training too because my dad did a really good job of teaching me some things. Yeah. Just cut in there. That's perfect that you should mention that. And I do apologize.

12:32 One of the reasons how we got to be connected was around your book launch. And the book is called, I kept getting this wrong because I was trying to search for it. Thinking thoughts about lots of teas. Thoughts on things financial. T-L-T-F. Thoughts on things financial. Yeah. Yeah. And once you get it, it's got a nice ring to it. But until you get it, thoughts on things financial. So Rob's book, Thoughts on Things Financial, is on Amazon. You can go and get it there, I know, because I've seen it there. Thoughts on things financial. And it's a practical guide, a really practical guide for people to get an understanding

13:15 of their financial planning and tracking their finances into the future. But we'll definitely hear more about that. But the essence of this book is your whole experience from this story that we're talking about now in the Navy right through to your very successful Schultz Wealth Company and all the people you've worked in there. So this is really your whole career put into a book so that people can practically manage and grow their finances. Is that correct? I'd say so. When I wrote it, I decided I wanted it to be comprehensive. And my publisher people were like, well, that's crazy. That's too much information.

13:58 I was like, no, I mean, I get the same questions over and over and over again, you know, from people. I see the same mistakes. I see the same success stories from the same habits. I was like, man, I want to write all this stuff. I want to put all this stuff down. And I think the book is unique from that standpoint because I've actually worked with all these people, hundreds of people, and helped them put their kids through college and retire and do all these things. And a lot of people that write financial books don't have that experience. And so that's what I tried to do. I tried to try to put those stories in there to help solidify these just basic things that you need to know.

14:43 It doesn't have to be complicated. It's not. It's not complicated, but there are some basic. tenets that are super important if you want to be financially successful, I believe. Yeah, listen for any people listening, right? This is this is going to be a relatively practical podcast session tonight with Team Superdad because I want to make it as much value for the Team Superdad members as possible. And if you're listening to this and wondering what that is, come on over to teamsuperdad.com forward slash network. And you just, you know, use your stuff, give your name and your email address, and you will be put into our group and all the previous podcasts and the training that we've got in there.

15:27 And there's live sessions and there's the community stuff. And so, yeah, teamsuperdad.com forward slash network, and you can come and be part of that. But the book is written in very practical everyday language. I mean, it's not a heavy finance book. It's a read. Obviously, someone's got to have an interest in managing their finances, but it's very accessible. I've read the different chapters that I was given, and it's very accessible. And I guess, do you know what? Even as I'm saying it, it's a relief.

16:05 Oh, really? Yeah. When you read the way that you've approached some of the subjects, it's like, oh, gosh, okay, right. Well, that's not too hard. Yeah, I could do that. Okay, yeah. So let's, I guess, let's look at it from a journey perspective, right? People, couples, let's look at it as a family situation. People get together. It's unlikely that either of them have got their finances handled that well. There's very few people in this world that actually got a good handle on their finances. Would you agree with that? It's kind of uncommon that people have got a handle on their finances.

16:44 It is uncommon. And there are varying degrees of financial health with people. And one of the important things here, okay, that I see over and over and over again is people think that you don't know about anybody else's finances. So you assume that yours are just awful. A lot of people do that. And there's this shame that kind of happens. They're kind of ashamed of where they are. They're upset about maybe some of the poor decisions that they made. And man, I mean, if you're going to get better at this stuff, the first thing you have to do is you got to get rid of that.

17:28 And otherwise, that's going to trip you up because you're not going to go find help, you know, because you're not going to want to be able to kind of admit maybe some of the mistakes that you've made. And that's the first thing I want to say: is that everybody struggles through this stuff. You just, and it's a constant journey. And we're all going to make mistakes. I've made mistakes. Everybody's made mistakes. And we're going to be okay. You know, I mean, the key to it is to just keep marching forward and to be honest about where you are with your spouse, absolutely. With your kids, I think one of the worst things that we can do is

18:11 try to hide what our real situation is from our kids because they can learn from that. They can learn from our mistakes just like they can learn from the good things that we do. And that can lead to some dysfunction, I think, if you're trying to pretend like you're something you're not. Both ways, by the way. I see very, very wealthy people that want to pretend like they're not, you know, and that doesn't provide the right message either because these kids, they're going to be very wealthy sometime too. And they need to learn how to handle that. And they're not going to learn how to do it if you're hiding that from them.

18:49 I hope some of that makes sense. Honesty is like super important with all this financial stuff with each other, with your financial planner, everybody. Yeah, and particularly, do you know what why that message is really important right now is because the world is a bit crazy and people for various reasons could be really struggling with money. That has an impact on relationships. Relationships break down too often because of money. You've got a couple who are really in love and then money troubles come along and just it wipes out trust. It wipes out communication. It wipes out intimacy and all because of what? Because you just said it, because they didn't communicate about it. Didn't go and get the right help.

19:34 And sadly, the suicide rates are just far too high globally, particularly among men. So yeah, whatever your financial situation is, there is no. no shame in going and getting advice there is no shame in going having a conversation with someone who's qualified to look at your finances and help you you through this so um wherever you're at whoever's watching or listening to this um please at the start of this conversation take on being open and honest with with people in your life and seeking out the right advice yeah because because the solution there are solutions you know and and that's the thing you mentioned suicide that's that's usually when somebody just can't see you know a solution well you know solutions come around when when you want to

20:20 look at what the what the issues are and that's pretty much all that financial planning is is we just we just bring a couple into the room and you know we start talking first of all we look at what their true situation is right now we look at what they want it to be you know what are some of the goals and so forth and so on and we don't have all the answers right then but what's really cool is what happens is our brains start working for the towards those solutions that's how our brains work yeah and you know you you expose all this and you're honest about it and you talk about it and then you can start creating these solutions and you know most of the time i'm just kind of kicking back and and they're figuring this stuff out you know we we come back six months later and they've they've made incredible

21:10 progress because they they're they're communicating now and they're um they know what the issues are and they're finding creative ways to to solve it's amazing yeah we've talked about that on the podcast before you know the particular activating system and when when you when you start to focus on a problem from the perspective of a solution then we get creative ideas spark you start to notice things around you in a different way you have different conversations two people that perhaps were arguing and frustrated with each other now start to share ideas and and and and laugh and joke

21:49 about some that might be silly some that might be realistic and you put a couple of you put a silly idea and a great idea and a great idea together and you come up with an even better idea yeah um and quickly you can take the significance out of of a financial struggle and turn it into a financial goal um is it is it you know are people realistic about their financial ambitions or or do too often people think oh well there's no way i could save that much money and so before they've even started everything gets shut down that's a good question um

22:28 i think most people when if they've never done any financial planning they don't know they have no idea they have no idea whether what they want to do is feasible or not um they just don't know and that's a big point of the book and of what i try to do uh is is you know you got to know you need to know um and the only way to know is to is to run the numbers and and calculate it you know you can't just go through life and going well you know i'm i'm doing this i hope i hope i hope it all works out you know that's that's not that's

23:08 not financial planning financial planning is backing into some some numbers and then seeing whether your current situation is allowed is able to support that and in most cases you know if you take all the goals that you ever want from a financial standpoint you can't achieve them all okay you can't achieve them all um and so you have to prioritize just like everything else and come up with those things that are most important to you based upon your values not somebody else's values not mine but yours and then you focus on those things that are most important that's where you allocate your resources

23:47 and next thing you know you're achieving those things and maybe some things that were important to other people or that maybe you thought should be important but isn't important to you those things maybe don't happen but that's okay and so what are those segments are we talking house holiday for kids college retirement um you know is some of it i guess some of it's life kind of stuff and then other is more frivolous throwaway things they but they've all got a place on the if we imagine it's on a wheel right they've all got a slot on the wheel correct yeah i would say so and um

24:27 and and everybody's going to have have different values or things that are important to them and they do they go i mean you think of a car what would be the list if you if someone was making a list now what would those kind of categories be Well, I think that's the thing is sometimes we don't know because we haven't thought about it. And then what happens is this thing that I wrote about is called short-term bias because our brains haven't evolved as fast as modern technology has evolved. And so what happens is, sometimes we give priority to those things that are closest, a transaction that's closest over things that are actually much more important to us, but are much further out.

25:13 See, that is why you have to do financial planning because your brain can't do that. You know, your brain's looking at, you know, we've got to find it. We've got to buy a car for our son. Okay. He's going to be here in the States, 16, you get a car. So we got to do that. And it's going to have to be safe and it needs to be new and all that kind of stuff. So we're putting top dollar on that. And all of our priorities, all of our money resources are going to go to that. Well, that's the short-term bias. So it's we have all in. Yeah. Focusing all in on that. And, but really, man,

25:58 that's not, is that as important as trying to make sure college is paid for. And then retirement can be so much more money that's needed later when you're not working. So, you know, what happens when you do financial planning is you're able to project out what those numbers are and make them real in the present so that you can make a better decision about that car for your son, you know, based upon the other things that you know are later further down, not so short term, but they're long term. But maybe they're maybe they're more important. I would argue that they are. And that you need to not ignore them and just buy the most, you know, the best, greatest car you possibly can with everything you've got.

26:43 Yeah. And in one of the excerpts that I was shared of your book, it said about someone, it looks like a sensible idea to pay off your debts with a bunch of money that were previously in a retirement fund. But without a sensible financial expert helping you through that, it might have been the worst decision you've ever made. And equally, it could be the right decision, but unless you've got the skills to know that, you've got to use your money in a way that's going to serve all the goals that you've got coming down. Right. And just like what you talk about so often, about having balance, all these different things in your life, well, your financial life is the same thing.

27:23 It has to have some balance to it. And, you know, if you are just completely debt-free, okay, but you have absolutely no money saved, that's a disaster. Okay. That's an absolute disaster because you're going to end up in debt again. I mean, no question, because you don't have any cash. And an emergency comes up or if you just even need to buy tires for your car or your truck, you're done. You're going to use your MasterCard and you're back in debt and back in debt again.

28:01 And, you know, that's not smart. Well, and that's how this money subject can be a problem for people who are, you know, in inverted commas, rich people or poor people, people with loads of money, people with not so much money. The person with loads of money can be just as cash poor as the person with hardly any money, right? This is about looking after your money so you've got some to spend, some's being saved, some's getting you through every day. Yeah, and that's that's right. And that's why we, we don't, I don't really use the term as far as you know, somebody has lots of money and somebody basically everybody, I use this term, I call it

28:42 their net savers and then there are net spenders. Okay. There aren't like rich people and poor people. There are net savers and there are net spenders. And it doesn't matter how much money you make. If you spend more than you make, you're a net debtor. And over time, it may take a long time, may take 20 years, but over time, you're going to sink yourself. Okay. Because over time, you are spending more than you make. And that's going to be a problem. And you're not going to achieve personal financial success. And then a net saver is just the opposite of that.

29:21 They're always spending less than what they actually make. It's just that's what they do. They do it week in, out, months, and years and years. And over time, they can accumulate they can achieve and and they have the resources they need to put put together for for their financial goals and it all works out great and neither one of them are really aware sometimes of who they are and why everything like for the net saver you know if you ask them it's like oh i've i man i've just been really fortunate you know i i haven't i haven't had any of these terrible things happen well yeah they have but they had the money to be able to take care of it so the net spender is going man just i've just really had some bad breaks you know this this happened over here or whatever that costs a lot of

30:15 money and you know i just i just wasn't able well you weren't able to handle it because you didn't have the savings you didn't have the resources to deal with it yeah you know that that's the difference and on a basic level you find out that one of those people was spending a hundred bucks a month on starbucks and the other one wasn't they just had different their their attitude to spending on little things was was slightly different and and uh and they made their money they managed their money better i guess it boils down to managing their money better it does it really boils down to habits and and having good financial habits and sometimes it it comes down to kind of tricking yourself into those habits

30:56 okay so tell us more about that because these these kind of habits uh i would imagine are at the root of lots of couples relationship problems where finances are at play because one could have good habits and they're not going to have bad habits or they could just have habits that clash so this is an important subject because financial pressure can ruin relationships and it's and it's heartbreaking when an otherwise happy couple who loved each other are now at loggerheads over something ultimately as as insignificant as as money um when it could just be managed properly so um

31:35 and i'm sure you see that a lot in your work don't you oh for sure you know so so couples that are married generally you don't marry somebody like yourself you marry somebody different um and i see that all the time there'll be one who tech who's maybe a net spender and one that's a net saver that happens all the time you know that that's that's what we have but they can be very happily married to each other uh you just have to recognize who you are and um and then you know put in place some some mechanisms uh some ways to trick yourself and and just have awareness you know i think the first thing is you just have to wear be aware i mean

32:15 personally me i love to spend money i mean i really do you would think that i would i would i've always you know yeah he's an accountant yeah i've got this i've had this down since i was three years old you know i i've i've never had any of these well no that's wrong i mean i have i'm a i have uh so many different habits and and just expenses and fun things that i like to do you know that's kind of the way i live so you know i always want to buy new golf clubs or or whatever it may be uh and and so i've had to learn how to kind of trick myself to make sure that i have the money

32:55 that i need when those emergencies and opportunities arise uh and then it just becomes part of my my daily life you know and and then then it works out okay great so let's let's in the second half of our conversation let's let's put some real substance in this because we've talked about habits we've talked about um you've just said there you how you've people feel like they were lucky or not lucky so i think what'd be really cool would be to you know um for anyone listening and watching is is that we can give them some practical things to take away of course go and get your book is a really

33:35 is a really good thing to do um and so first of all people if we just take this conversation there's the goals part of it right so we're going to get really clear on on what kind of money we're going to need for our future right so that's i think so really the first step is to see where you are right now so in order you're going to do an audit of your finances so what do we do to create that audit well the book has has a couple of worksheets you can use um but it's really pretty simple i mean one of them is going to be a cash flow is what i call it but you know it's really a budget but people hate that word so i call it a cash flow yeah well i think cash flow is important because yeah cash

34:20 flow projects into the future as well commonly it does and that's what i always do i'm always trying to trying to ask what what do we see coming up not what happened it's not a it's so you're you're right, it's not necessarily an audit. It's just a way of just trying to see what the year is going to be like. So, how much money are we going to make and where are we going to spend that money? And when we subtract that out, is it a positive number? Yeah. And if it is, then how are we going to allocate that positive number to forward ourselves in our financial success? Okay, cool. So

34:58 we have a cash flow document in Team Superdad. You've got cash flow documents in the book that people can get as a template in the book. You can also search Google for cash flow template, right? Absolutely. You're making a cash flow, you're simply putting on there. If you took the year, right, you've got Christmas, birthdays, holidays, you know, any kind of occasion where you're going to be spending money. Then you've got your just general expenses. What are you expecting to spend each month? And then on top of that, obviously, you've got income. So where's your money coming in across the year, across each month? And so when someone fills that in on an Excel sheet or a Google spreadsheet, they will then see, I have X thousand dollars a month.

35:44 See, as a household, we have $5,000 a month. Great. Our normal expenses are $4,000 a month. Great. So we should have £1,000 a month left at the end of each month. But Christmas costs $6,000 and summer vacation costs $6,000. So now we're back to zero. And that's a cash flow. That's what people need to get their head around there. Is it there? Yeah. And those annual numbers, those annual numbers are really important. Johnny, you nailed it. That's the stuff that usually trips people up. They can usually sit there and balance things month to month if they're just living because they're watching their account and going, oh, yeah, I'm doing good. Well, then, like you said, vacation holiday comes up, things like that, taxes, whatever it may be.

36:28 That's what trips them up, or those annual ones. That's why you have to sit down and write it out to really see where you stand. Yeah. Well, a car. You could say, oh, yeah, a car cost me a hundred bucks a month's gas. Okay, but then you're allowed for something goes wrong at least once a year. There's a service. So actually, no, the car doesn't cost that much month. It costs double that a month. Okay, so that's our practice. We're managing our money there. And then our goals. So in terms of how much money we think we might need in the future, so we're going to put what we've got our kids' college in there. We've got, I don't know, what if we want to start having a bigger house or we want to, you know, we're planning for things like that.

37:09 What do we do there? We go like, okay, well, our five-year goal is to do we paint a picture of our perfect life and then work out what that life would cost. Is that an idea? You can. You know, we use our financial planning software is pretty robust. So, you know, we'll take all that. We call them cards just because that's what they look like in the financial planning software. So, you know, a client will come in and say, well, we want to buy a vacation home or we want to relocate to another home or whatever it may be. That's a card to us. And then we'll go in and we can get all the data on that.

37:47 And then what happens is the software runs that within the cash flows of all the other things that have to happen, you know, saving for college, saving for retirement, et cetera, and so forth. And then we can read that and we can tell, you know, whether that's feasible or not, or at what level it's feasible and things like that. Okay. So an individual dad or a couple planning this together, they could take that card idea. They could even stick it on a wall and go new house, kids' college, daughter's wedding dress. Even though the daughter's fifth, like in my mind, my daughter's 10, right? In my mind, I'm like, somewhere down the line is a bloody 20 grand.

38:28 Oh, yes. So those cards, you can kind of, especially as a couple, you can play with this and say, all right, well, let's get creative. Let's have a brain. Let's get a bottle of wine, have a laugh about how we're going to plan our future out and just start to put some numbers on there. And boom, now you've got a wall or a notepad in front of you where you can see the life you want for yourself in five, 10 years' time and some idea of what it's going to cost. Okay, cool. Yeah, and you verbalize it, you know, which sometimes are, you know, even with your spouse sometimes to really verbalize what it is that you want to achieve because once you say it, it's out there, you know. So it's a great thing for everybody to do, for sure.

39:13 Yeah. And that's a coaching exercise. Anyone who's experienced coaching before will know exercises like that. And if you've not experienced coaching before, then that's the kind of stuff that happens when you're working with a coach is that they'll challenge you to. you to think about new things for yourself and your life that are bigger and greater than what you've got now because that's that's the growth that's the stretch that's the how do you have a better life where you plan it and you start to make it happen and so then I can imagine a couple at that stage then go well that's fun but how the hell are we gonna do that like it's almost like a bit of a bit they feel a bit deflated by that you know you they're working with you or they're reading your book they've they've got these ideas for things they want to have happen but now they've got no idea how they're going to make that extra money what what's the next stage in the process

40:03 well with the with us like in our process as a professional financial planner i mean that's that's where you know we start allocating whatever was left at the end of that cash flow statement okay so there's there's money that's left over that's what we have to put towards what it is you just verbalize that you want to achieve and then we we have to carefully allocate it towards those things decide you know where it's going to be obviously first you have to have an emergency fund you have to have some just plain old cash make sure that you can pay for those expenses and so forth that may come up from time to time and then from there you're going to allocate it into accounts

40:43 towards these different goals that that you have for yourself and you're going to run out of you know money before you run out of goals potentially okay and i think that you have to just understand that that's totally okay okay that's going to happen and um and and and that's okay and it's because this is an ongoing process you know for our clients it's every six months so they're going to uh come in in six months and we're going to reassess we're going to see where they are and we're looking for progress as we go and in between they're finding ways to solve these different

41:23 things and over the course of you know maybe even years some of these things we've tackled and we've handled and now we can go to the next thing you know well now maybe that vacation home is a possibility you know you've gotten a raise all these things see i think that's really important let me backtrack to that when you get when you all of a sudden get a raise at work okay what's the first thing you think of doing with that money spending it yeah holiday if you have a plan yeah if you have a plan and you have these cards you know up on your on your mirror the first thing you're going to think of is that that vacation house or that relocation that's the magic of the planning is that it gets your mind geared up and looking for

42:16 the opportunities to achieve some of these things when those opportunities arise yeah and you know uh we've had lots of guests on the podcast about mindset about affirmations about the law of attraction you know we've had a kind of religious angle on it as well these things are all sort of the same subject you know where attention see where attention goes energy flows you can't help but focus on something that's important to you or that you've got a plan for and in the same way if you're not asking for it praying for it focusing on it believing it working towards it it ain't never going to happen it's not going to happen yeah yeah

42:55 and when uh well i lost my train of thought one second um so we've we've we've got our plan we've been we've given some extra money oh yeah so what so in terms of you know i've read uh i've read the uh philistine prophecy and obviously it's in the bible they talk about tithing and putting a proportion of your money to one side oh i've um um what's his name dave ramsey yes obviously for our american friends um and anyone involved in money around the world will probably have heard of dave ramsey but his his debt you know money snowball and the emergency fund so these these are things that people who

43:35 are focused on their money might have heard about uh is the emergency fund that's that's that's really vital is that's everybody should be should be clear on the importance having an emergency fund right yeah i think that's the very first thing even before you start trying to knock away the debt is that you have the emergency fund to make sure it's going to be there so that when the debt resolves itself you don't you know go back in and then i want to go back because you're just talking about um you know charitable you know donations and giving away your money um if that's okay yeah please do yeah because yeah i didn't i i didn't really do a chapter on that in the book um but it's so important and it's something that i've I've just seen in working with couples over the years that is just mind-boggling to me.

44:26 But, you know, without a doubt, the couples I work with that are most financially successful. That doesn't mean they make the most money. It just means that they are achieving their goals and doing a great job, you know, living their financial lives. They're very, very generous people, almost to a T. You know, they're donating, they're contributing to their church or their charity or whatever it may be. And, you know, I think that when you do that, you take a little bit of the control away from money because money can control you if you let it.

45:06 It can scare you, it can make you, it can give you emotions that are negative. And the key, the best way to take away that control that money has over you is to give it away. And then if you're able to do that, then you're not worried about it anymore. You're just kind of going, well, we're going to figure this deal out. And it doesn't have to do with all the dollars and cents. It has totally to do with my attitude. And when you have an attitude of, I've known a lot of people like this in UF2 that have the attitude always of, well, I just, I deserve it.

45:50 I deserve a raise, you know, and this, I just got a bad break over here or whatever it may be. You know, that's a bad attitude. The best attitude is to realize that, you know, to be very grateful for the opportunities that you have. You know, not to be looking at whoever it may be that is maybe doing you perceive to be doing a lot better than you, but rather to look at just, you know, just being in a first world country like we are, Johnny, you and I, and just saying, man, I actually have a positive number, you know, after doing that cash flow thing.

46:27 And a wide majority of humans on this world absolutely do not have no earthly idea how they're going to feed their family tomorrow. You know, yeah, that's and that's such a grounding thought. And I've heard money be spoken about as energy, you know, and whether people have come across that too much before or believe it or don't believe it, but it's a flow. It's coming from over there, it's passing us by and it's going and it's going out the other side. And it's been written about and spoken about in so many different ways. But the more that you stop the flow of that money, just like a dam, it's going to dry up coming to you as well.

47:13 So it's brilliant to hear someone with such an extensive depth of experience being able to reference that as well. And almost without the technical sides to it, it's an anecdotal, yeah, people that are generous seem to have a better control over their money, seem to have more abundance. Yeah, I can't explain it because I mean, I can look at that cash flow and I can see how much money is being just basically given away. And, you know, half of my brain kind of sits there and goes, wow, you know, we can actually use that.

47:53 Yeah, we can actually, we can actually use that to solve some of this. But the reality is, the more they give away, it just seems like the more of that flow. I like that flow concept. It just works. I can't explain it from a financial standpoint whatsoever. Sorry. People just have to believe in it. It's like, where do the flowers come from in spring? They're just like, bing! Yeah, money's like that. It does flow. And, you know, we get most, most of the satisfaction we get from money is when we're able to make it do something really amazing.

48:34 And, you know, when you take your money and you give it away someplace where it really can do a lot, that, I mean, that's fantastic. Being parents, same, same deal. One of the best financial decisions you could make if you wanted to be absolutely as rich as you possibly could is just don't have any kids, right? Because they're expensive. But of course, that's absolutely not the point whatsoever. Yeah, totally. Yeah. Finding the joy in spending money and in the little things. So what about this is a good way to kind of

49:14 wrap this up. this up. People want more money. They've got to make more money. Yeah. So, that's like, I guess, the second half of the financial message is, I don't just mean, oh, go and get a different job. The world is full of messages about multiple streams of income and different ways of making money. I believe that that's important that people start to understand. And whether they do it or not, they at least need to understand, I can and I could, and I probably should make money in different ways. Do people ask you that when they come and see you? They ask, how can I make more money? What are the different ways I can make more money?

49:57 Yeah, sometimes it does come up in different ways. And that's part of the art of financial planning is trying to determine which part may be the problem. When we don't quite have the biggest number at the bottom that we're looking for, well, do expenses need to get cut? In some cases, they do. There's some expenses that need to be dealt with. And in most cases, your expenses are what they are. Most of them are pretty much set at this point. There's not a lot we can do about them. So then you do. You look at the income side. And

50:37 yeah, I mean, we talk about here in North Texas, a lot of people own real estate and we'll do that. That can be an extra income screen, although prices have gotten ridiculously high recently, but you can do that. You can own residential real estate or commercial real estate. Sometimes it is a second job. Sometimes that's absolutely necessary. Sometimes you're having a discussion of, you know, maybe one spouse is staying home with the kids and maybe something else has to happen there from an income standpoint.

51:18 But most of the time, when it comes up and it's an issue, it's usually when some type of transition has occurred. And that's like a divorce or the death of one spouse or the other. Some type of transition is where it gets hard because you're sitting there going, okay, I have this lifestyle this way. And these other things are important that you talk about so much, taking care of our kids and so forth and so on. But I'm going to have to go get a job that is going to take up a lot of my time in order to make all this work.

52:01 And in my experience, sometimes those are absolutely the hardest conversations to have. Because when you're going to have to go work harder and make more income and therefore maybe have to give up some of your free time for your family or something like that. It's a lifestyle choice or lifestyle versus sacrifice. There's a whole lot of other stuff there going on. And there's not a right or wrong. Well, there is from a financial standpoint, sometimes, I mean, you really do have to go just do what you have to do. Okay. And understand that.

52:44 And that can be really hard. But people that are really growing their money, you know, compound leverage, they're saving, they're investing, the $1,000 that they put out is coming back as $1,500 on a regular basis. These are people you must be working with, some people who have, you know, they're leveraging their lifestyle in a way that's really creating more, I guess it's like ramping up, like the compounding, yeah, time-valued money. So what are some of the ways that people, you know, I guess these are people who you've been working with a while.

53:25 What are some of the ways that people would be doing that? Is it investing? Even if they're not managing the properties they're buying, are they investing in a property fund? This is the question. How are people leveraging their finances to really increase the amount of wealth they're creating? What are some of the ways people can do that? Well, leveraging means using debt somehow. And that's usually done here at least. That's usually done with some type of property type deal. You can do that. I'm more of a stock and bond kind of guy.

54:10 usually, what it means is you're not necessarily leveraging with debt, but what you're doing is you're just, you got to start somewhere and you start getting that money set aside and invested and you let it stay there instead of using the proceeds off of it so that that money, in essence, can make money on the money that it's making and so forth and so on. That's that ramp up, the time value of money, that compounding concept that's critical for your long-term goals. You have to have that. And you don't see it for many, many years.

54:46 It's kind of one of those things that you've got to have some faith probably until it gets to be a decent amount of money that you're doing the right thing because you're not going to see it. Because compounding works incrementally at the beginning, very, very slowly. And then the curve steepens and starts just going straight up. But to get to that point, you had to start somewhere. Yeah. And Darren Hardy's book, Compound Leverage, is a great book on that. I dare say there's reference to it in your book, I'm sure. But people can do that really easily now, can't they? I know in the States, the popular one is called Robin Hood.

55:29 Here in the UK, there's something called Moneybox. And that's literally small amounts of money on a weekly, monthly, whatever basis going into an account and then it's being put towards the purchase of small percentages of stocks and shares on the stock market. Yeah, that's exactly right. And you just want to take the long play and make sure that you're diversifying and that you're just kind of allocating. Investing, in my opinion, the right way is just incredibly boring because

56:07 you're not buying cannabis stocks or anything like that. I mean, you're literally just allocating it in the stock market in different parts of it. And over time, you know that's going to grow faster than inflation. That's all you really have to do. You just have to beat inflation by a little bit and keep putting that money there and not touch it and it becomes significant. And it's not complicated, is it really, Rob? Yeah, you can explain it, you know, but the point I want to make about it is if someone watches eight hours a month of reality TV or watches 10 hours a month of football or you know like there's things that we do that use

56:51 up time and they are enjoyable I'm not saying we should all stop them but to start to get a little bit of an idea of what investing actually means and what would happen if I could put a hundred dollars a month into a stocks and shares ISA or as we call them here or stocks and shares bond over there just a little bit of an understanding of what that's doing for you and how it works is is is a skill for life is knowledge for life right it is and um there's a whole chapter in the book where i tell the story of my dad um teaching me about time value money when i was 10 years old and um

57:30 it's it's my favorite story in the book there are a bunch of them but it's it's my favorite one uh it really happened i remember it i was 10 years old i remember every bit of it and uh and that's that's how i explain it in the book is just as if you're as if you're a 10 year old sorry but that's what that's what seems to work and that's what worked for me and you know not only should we read all this and understand ourselves i think that we need it's it's on our honest to teach our kids as well for sure because otherwise they will not they'll they won't learn it i don't think they teach it in school effectively no and i don't it doesn't look like they're about to

58:10 start anytime soon either which is just so listen just as we come to the end now summarize the the the book for us i don't mean to summarize it word by word but who's it for what what what can people get out of of of of reading your book because i think it's a really vital book that that a couple should get yeah um well it's it's designed for a pretty broad crowd um like like you said johnny you should be able to read it very easily even if even if you're really not into finances at all um and and so it doesn't matter i've had a lot of people that are really into finances and they enjoyed it they enjoyed the stories and um and enjoyed having those tools to be able to for instance teach their kids about about finances i've had some young people you know just kind of start

59:04 starting out. You know, maybe have kids and they're in that chaotic stage, as I like to call it and remember it, you know, when you're just like, you don't know which way is up. Yes. Yeah. I think that I think I wrote the book for them. I really do. I think that I was thinking of myself back then while I was writing it. I think that's really a really good read if you're in that stage. And I think it'll just take a whole load off your shoulders and you'll be able to understand that you're normal and that this is achievable and that sort of thing. So some young people have really said that it's changed their lives, which is that's what you want to hear as an author.

59:48 So of course. And for a couple experiencing stress around finances, this book and any book that falls into the same sort of category, get wise. Don't sacrifice your relationship over something as silly as money. Just fill up the knowledge that you're missing and allow it to be a strength in your relationship. Yeah. Awesome. And of course, it's available at Amazon. Anywhere else, just search the internet, I guess. There's a massive picture of it on the front of your website, isn't there? Yeah, you can get it off my website, shultzwealth.com or Amazon or all those places where they sell books.

1:00:31 Of course, who buys anything from anywhere but Amazon at this point? It's just give up, right? Literally. And I try. I do try to buy from elsewhere. And it goes wrong. And you're just like, oh, man. And you flipping, click, click, and it arrives eight hours later. And you go, yeah, they own us. You know, we'll be devastated when there's no other shops left. But until that time, it's kind of fun. Yeah. Our kids can pick up the pieces. Yeah. Rob, it's been absolutely brilliant having you on the Team Superdad podcast.

1:01:10 We'll talk more. And if there's, if the Team Superdad guys would like a live session, maybe a QA or something, then it'd be great if you're up for that. Yeah, no, that'd be great. That'd be a lot of fun. Yeah, brilliant, brilliant. Yeah, shultswealth.com. Rob, it's been a real pleasure. Enjoy the rest of your day with your family. All right. Thanks, Johnny. What an interesting chat. What a great guy. What a, you know, like I said before on the running, you know, money, managing your money, accounting, it's not always that fun, but it is vital. You know, literally, literally is one of the most important things in our life.

1:01:54 Not that money is the most important thing in our life, but the flow and energy in our life is vital. And like it or not, in the way that our world operates, it's a financial system. There's an exchange market. We need to have money to create things, to be generous, to build things, to create a legacy, to manage our family, to enjoy ourselves, to reward ourselves. So money, you can't go anywhere without it, really. And as Jim Rohn once said, it's not everything, but it's right up there with oxygen. So I hope you enjoyed that. Come on over to teamsuperdad.com forward slash network. If you're looking for some one-on-one dad coaching, then by all means, come and work with me in that.

1:02:38 You can just go to the website teamsuperdad.com and request that. Whether you're single, divorced, keeping your relationship on the go, trying to manage your kids, or simply wanting to find more joy and energy and power because we work from the power code, then you're in the right place. Come and come and say hello, reach out, and we'll have that conversation. My name is Johnny Jensen. It's been a real pleasure to have you with me. I'll see you on the next episode of the Team Super Dad podcast. Bye. This has been Team Super Dad. Find us at teamsuperdad.com. Join the program and create the best life ever for you and your children.

1:03:22 You are not alone. You're on Team Super Dad.