3 Words that can Change Your Life – Post 502

You’re gonna die

Memento Mori’ which is Latin, it means, “Remember your death.” There’s a quote from Marcus Aurelius, the Roman Emperor and he wrote, “You could leave life right now, let that determine what you do and say and think.”

You’re gonna die! 

This could be my last podcast, the last show in my life. You know, the last time I talked to my wife could be the last time and you’ve got to let that determine, you’ve got to let that shape, death should, the thought of your mortality and death, not in a depressing way, should shadow everything that you do because it’s the only way to make sure you do it right.
The three words, “You’re gonna die,” that should let you cut out bullcrap. That should let you decide how you’re going to treat other people and let yourself be treated. And it should determine the quality of the work that you’re going to do.

Think about this, when the police lights go on behind you, you’re scared shitless. You change your behavior. Then the car drives by you, right? And then for like three minutes, you’re like, okay under 55 now, and then you know four minutes later you’re going 73 again, right?

And that’s how I think people do it in life.

Something bad happens, they hear something, they see something and they’re like oh shit.

We should live under the mindset of, you’re gonna die.

It’s like you hear about a friend who has cancer, and you think like What would I do if I had cancer, right?

You do have cancer.

You’re gonna die.

You just don’t, you just don’t, first off because lots of people do get cancer, so there’s a real chance the cells, the cells are already in your body, right?

Yeah, but like you do have a fatal diagnosis from a doctor, He just can’t tell you if it’s six months or 60 years.

But you know you are definitely, a hundred percent going to die and it could be tomorrow so what are you going to do with that information?

You’ve got to play the game of life as if you’re gonna die tommorrow.

What legacy are you going to leave for yourself.

I push so hard, so hard, and will through my vehicle. Which isn’t meditation, which isn’t golf or sports,

My vehicle is entrepreneurship.

I can’t help it. It’s what I love.

I love building businesses.

I Love competing in that arena.

I love that game.

That’s my vehicle. It’s the fear of getting old and having regret. Regret that I didn’t push myself to succeed, to be all that I can. To live as if I was going to die tommorow.

Stop making excuses,

stop complaining,

nobody’s listening.

They may pretend they’re listening, the market doesn’t care.

What you need to do is make one person happy:

You.

Then you can make everybody else happy.

I implore you to take this last little rant and really look at yourself and understand, are you doing the things in life that are putting you in a position to succeed?

Not just in a business world but in life.

Are you living in all areas of your life as if Your Gonna Die.

One life, my friends. One time.

 

 

 

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10 Reasons You’re Flat Broke (and What You can Do to Fix it) – Post 501

10 Reasons You’re Flat Broke (and What You can Do to Fix it)by Patrick Chism October 20, 2015 Saving Money

If your bank account looks like one of those western movies where the tumbleweed drifts by, you may have a money problem. Before you throw your hands up and accept that this is your lot in life, consider this: Spending your hard-earned money wisely isn’t for the faint of heart. In fact, more than half of Americans are struggling with this discipline, living paycheck to paycheck with no savings to speak of. That’s right. Your average American is one flat tire or one sick cat away from catastrophe. It’s time to take a hard look at the decisions that got you here, as well as the way you’re going to abandon this sinking financial ship for something better. Let’s take some time to recognize the reasons you’re broke, as well as ways to develop strong financial habits.

You Don’t Know Your Money
If I asked you about your finances, including your debts, your savings and your assets, would you be able to come up with an answer? Better question – would you be satisfied with that answer? Knowing your money is an important first step to saving. You’ve got to understand how much you’re making and how much you’re spending, and the only way to do that is to create a budget. It doesn’t matter if you’re making minimum wage or sporting a six-figure salary; if you don’t know your money, you won’t be saving much. And statistically, a measly 32% of our fellow Americans are keeping track of their expenses every month.
This mainly comes down to the fact that budgeting is, without question, one of the least sexy things to do. With the exception of me and few other masochistic money crunchers, no one gets their jollies from building a budget. We like spending money and we like the idea of saving money, but we don’t want to take the time to see the way our finances are being used. Furthermore, it’s downright scary. Budgeting requires us to recognize our debts (our college-graduate audience just gulped) and make a plan for the future. This is the first and most important lesson you must learn if you plan to pad your wallet with more than lint.
You’re Not Talking about Money

We don’t like it when people ask us about our money. Our culture has an overall problem with this, thinking it a social faux pas to openly discuss finances. In fact, 44% of Americans say that talking about personal finances is the most challenging type of conversation. Seriously – we’re more comfortable chatting it up about death and politics than we are about money. And this doesn’t just pertain to conversations with strangers; we don’t like talking to our spouses or significant others, either. And when we’re not communicating about our money, we tend to run out of it. This, in turn, stresses everybody out. According to a survey by SunTrust Bank, money is the leading cause of anxiety in relationships. It’s also one of the leading causes of divorce. Money talks are an imperative part of our relationships, so we need to learn how to have them.
Accountability is one of the best ways to cut through the stress and set financial goals. It’s essential that you and your spouse are talking when it comes to these decisions. Take a page out of Dave Ramsey’s playbook and set up a time to budget each and every month. Together. Be aware of your money and talk about your mutual needs and desires.
No spouse? No problem. If you and your business partner, friend, child, neighbor, stranger – whatever – set financial goals for each other, you’ll be able to hold each other accountable. An accountabili-buddy forces you to actively speak about your money. And when we talk about it, we’re more likely to act on it.
You Don’t Have Mad Skills
With all the talk we’re hearing about student loan debt topping $1 trillion, a lot of people are wondering if getting a degree is worth the trouble. But according to David Leonhardt in an article from The New York Times, “Yes, college is worth it … For all the struggles that many young college graduates face, a four-year degree has probably never been more valuable.”
He’s referring to the fact that college graduates, on average, “made 98% more an hour … than people without a degree.” In other words, if you’re flat broke, it may be partially due to the fact that you don’t have a college education. Going back to school will typically allow you to make more money in the long run.
Even if college isn’t your thing, there are several high-paying skills you can acquire. One of my favorite financial writers, Mr. Money Moustache, has an excellent article about higher-paying careers that don’t necessarily require a traditional college education.
You shouldn’t run toward a career simply because of the salary, but you need to consider the money you need to make and how your job is going to make that happen.
You’re Not Saving or Investing
Your money doesn’t belong under your bed. It needs to be set aside and gaining interest. Many financial advisors suggest that you prepare an emergency fund for a rainy day (3–6 months of living costs). However, finance guru Ramit Sethi (you should really check out his blog) suggests that simply telling yourself to put an emergency fund together rarely works because it “produces little behavioral change.” Instead, he argues, you should be automating your account so a specific amount goes from your checking to your savings account every month. This forces you to start saving money. And who needs good financial habits if your bank is doing them for you?
Another trap that the broke and beautiful fall into is leaving all of their money in savings and checking accounts. The problem with this is that these accounts accrue incredibly low interest. Your savings account isn’t going to earn much more than 1% interest (and that’s on the high end). Instead, you need to be looking at opportunities to invest. Whether you’re looking at investing in the stock market (which is still a good option) or jumping into the real estate game, looking for opportunities outside of savings accounts is essential. If you’re planning correctly, the interest you gain from these investments should be your main source of income during retirement.
You’re Glued to the Tube
This one’s more of a public service announcement. Quit watching so much television! Right now, Americans are watching an average of five hours of television per day. That means, throughout a single week, you’re spending 35 hours watching the tube. That’s more than a whole day. You’re only spending 5.5 days living and the rest of your week caught up in a fictional world.
Thomas Corley, author of “Rich Habits,” found that 77% of those struggling financially “spend an hour or more a day watching TV,” and 74% are “spending more than an hour on the Internet” for recreational purposes.
So get off the couch and get your mind working. The television is where your finances go to die.
You Tried Keeping Up with the Joneses
If you want to start saving, you need to ignore the Joneses. This may seem like incredibly obvious advice, but for most of us, looking over at the neighbor’s yard or the coworker’s cubicle creates a pretty big temptation. Financial columnist Knight Kiplinger explains that “the biggest barrier to becoming rich is living like you’re rich before you are.”
Keeping up with the Joneses causes all kinds of financial follies. It’s likely one of the largest triggers for those impulse buys we accidentally make. The best way to ignore the Joneses is to cling to your budget. If Mr. Jones goes out and buys a new car or a new house, and you also want a new car and a new house, you first have to consult the budget. And if the budget says no (due to being used for other commitments and goals), then you’re out of luck. It’s much easier to get yourself under control when you can blame the budget. Find out what house you can afford with a mortgage that is right for you.
You’re Playing the Lottery
The fact that we need to write about this one is just depressing. But Americans spend more on the lottery than, well, just about all other forms of entertainment. This includes sports tickets, books, video games, movie tickets and music. We spent $70.15 billion playing the lottery last year.
First of all, it’s incredibly unlikely that you’re going to win. According to our statistician friends at the Huffington Post, the “probability of winning the jackpot is 1 in 175,223,510.” That’s a difficult number for us to wrap our heads around, but the fact is that you’re statistically unlikely to ever win the lottery.
But, of course, people will always argue with this information, responding with the age-old “well, someone has to win” logic. Don’t get caught up in this trap. Yes, that’s technically true, but for every person that wins, there are millions and millions of losers.
Low-income households (incomes under $13,000), on average, spend $645 each and every year on lottery tickets. That comes out to be 9% of their annual income. If, instead, they took that money and invested it (considering a 7% interest rate) every year for 40 years, they’d walk away with $147,436.77. That breaks down to over eleven years of their current annual salary.
Instead of the lottery, save or invest that money. It may not seem as pleasurable at the moment, but your future self will thank you. In the words of Dave Ramsey, “Live like no one else, so later you can live like no one else.”
You’re Carrying High-Interest Debt
There are two different kinds of debt: good debt and bad debt. If you’re trying to decide if your debt is evil or benign, just check out the interest attached to it. Good debt usually refers to student loans and mortgages because these are low-interest debts. Another attribute of good debt is that the purchase gains value over time. For instance, by paying for college now, you’ll be able to get a higher paying job later. Therefore, good debt also includes small business loans and loans used to purchase real estate. Sure, there will always be a risk involved with this kind of debt, but it can potentially help you financially down the road.
The other kind of debt – the bad debt – is largely made up of credit cards and car loans. Playing with credit cards is a dangerous, albeit necessary game. Credit cards are a great way to build your credit score, but if you’re going to use them, you should pay them off at the end of the month. All of it. No exceptions. There are a many advantages to credit cards, but only if you use them correctly. Make sure you’ve studied up on correct credit card behaviors before making the plunge.
Car loans on the other hand, are just ridiculous. That’s not a popular viewpoint, I’ll admit, but hear me out. New cars are incredibly expensive, and the second you pull off the lot, the “new” vehicle is dropping in value. Holding debt on property that’s plummeting in value is never a good idea. Save up and purchase your car in cash. Remember, you don’t have to keep up with the Joneses.
You’re Paying for Bad Habits: The Costly Three
Before you buy your next pack of smokes, consider how much you’re spending on these “necessities” each year. If you’re puffing away at a pack each day, you’re spending upwards of $5,000 a year. That’s the cost of a new (used) car!
Also take some time to consider the cost of your alcohol consumption. The average American has four drinks a week. If you’re having these drinks from the comfort of your home, you’re probably not paying too much. But if you go out and purchase these drinks, it’s going to cost you over a grand a year. And what if purchasing and consuming alcohol is more of a passion than a hobby? Four drinks isn’t really that much. If you’re getting more drinks each week, this number will skyrocket. This calculator will help you look at the real cost of your drinking.
Eating out is the last, but certainly not the least, of the costly three. The average American family spends $225 each month eating at restaurants, fast food establishments and perhaps the occasional pub. That adds up $2,668 a year. Take a moment to think about that, and then step slowly away from the chicken nugget.
On top of all these things, don’t forget about medical bills! Poor habits are not just expensive on the surface. They’ll follow you around for years. Yeah, if you feel broke now, just wait until you have to visit the doctor.
You’re Whining Instead of Winning
More than all of these things, putting cash in your bank starts with the right attitude. Pouting shouldn’t be your first reaction to an empty wallet. If you spend all of your time blaming others for your circumstances, you’ll never see the opportunity to start saving money. Yes, some people are born with more privilege than others, and some people just have terrible luck. Whining about your position isn’t going to change it. Instead, use that energy to make a plan or to tweak your current lifestyle. Simple changes can make big results when you’re trying to save money.

Career Frustrated Pharmacist – Post 499

When I started in pharmacy school the professors talked about all the possibilities in the pharmacy industry. We were told that we would have clinical patient care jobs and that we would know everything needed about medications to prevent poor outcomes.

Most Trusted Profession
We were given opportunities to present our knowledge to patients and help them one-on-one and this is something that really appealed to me. I think most every pharmacist can remember the first time that they made a difference in someone’s life—maybe you answered your first question about a medication or one of your relatives reached out to you about the 17 medications they were taking.

Today, whenever I talk to pharmacy students about the profession and ask them why they chose this profession I hear similar answers. It’s usually something to the effect of, “I went into a pharmacy and loved what I saw,” or something like, “I really want to make a difference in patients’ lives.”

I totally get that. That was me.

But what happens when these idealistic students get out into the workforce is dramatically different. In fact, an article from a few years ago stated that a majority of pharmacists in the community setting today want to quit their jobs.

New practitioners either get a residency or go straight into the workforce. Whatever path they choose, they usually come into their new job with all sorts of ideas, and passion and excitement about getting their career started.

Then, they experience what I like to call “career fatigue.” Because they are surrounded by patients, coworkers and bosses who tamp down their excitement and passion. They begin to become “adjusted” to how things “really are” in the workforce.

When they are surrounded by all that negativity, it’s understandable that new pharmacists would lose their excitement very quickly and experience burnout within just a few years of starting their practice.

Instead of a profession where we feel like we make a difference, it becomes a J-O-B.

When we started as students, we chose pharmacy as a career—not a job.

Here are some of the things you experience when pharmacy becomes a JOB:

  • You can’t wait until you shift ends—every single day.
  • You can’t stand talking with co-workers and bosses anymore.
  • You get frustrated easily when talking with upset patients.
  • You’re so ready to quit, but you have no idea how you would transition into another pharmacy job that would provide you with the freedom you seek, if such a thing even exists.
  • You say to your friends outside of pharmacy that their job sounds super interesting and warn them against ever becoming a pharmacist.
  • When you speak with interns who come to your store, you are pessimistic. You talk about how saturated the market is and how difficult it will be for them to payback their loans.
  • You don’t do any extracurricular activities that are related to pharmacy because thinking about pharmacy more than you have to is painful.
  • You haven’t updated your CV in more than five years, and it isn’t because you haven’t applied to a job—you just haven’t accomplished anything significant to put on your CV.
  • You apply to more jobs that you can count and receive no response.

A job is something that causes stress, provides little fulfillment and isn’t indispensable to a company. The problem with so many pharmacy “jobs” is that you are dispensable.

One great thing about our industry is that we have such a high starting salary; but on the downside, the majority of pharmacists are replaceable.

It is a lot easier replace one pharmacist at a Walgreens in downtown Seattle than it is to replace someone like an architect.

Yes, both jobs have learning curves. And yes, both jobs require a period of adjustment. But overall, a pharmacist who has worked at any retail chain can figure out the system at any other retail chain with ease.

Because pharmacists often aren’t specialized in their own niche and don’t provide themselves with a career that makes them unique to a company, it’s relatively easy for companies to overlook us when we are applying to new jobs.

Having a job that is sucking the life out of you is difficult. It makes it hard to manage everything else in life, simply because you’re miserable. You spend the majority of your time thinking about what you’re going to do outside of your day job, and you spend your time away from your day job dreading your return to your day job.

It’s an awful way to live!

To relieve the stress of how much your job sucks out of you, you begin to focus on things that bring you a little sense of relief and pleasure. Some get lost in video games when they’re not fulfilled by their work. Other people turn to hobbies or more dangerous pursuits, like illicit drugs and alcohol.

If you hate your job, the idea of trying to improve yourself and your career situation by volunteering for an association—or even volunteering to stay late or take on an extra project at your work—probably sounds absurd. That seems like a path to more misery.

Your ability to tolerate your job is so low, that to even think about doing extra is painful.

However, the pathway to a career involves a little bit of grunt work and sacrifice for a bigger payout.

What a career looks like:

  • A career is work that gets you excited. When you are commuting to your day job, you think about all the fun things you get to do that day.
  • A career makes you feel satisfied. At the end of the day, you go home happy knowing that you accomplished something valuable.
  • A career has room for advancement, allowing you to see a clear path to where you want to go. Advancement in the kind of projects you are working on and the influence you have on others lives.
  • When you have a career, headhunters and companies are actively trying to get you to work for them.

A satisfying career is possible. I’ve already hinted at how to get started in building your career, but it takes work. It’s not going to happen overnight.

It took me eleven years of searching to find something that I am passionate about and has the potential to replace my pharmacist income.

It took me another three years of hustling, growing, learning. Traveling coast to coast to meet some of the most successful folks, high six and seven figure income earners and learning how they broke out of their jobs. Finally realizing that if a dentist, an alcoholic stock broker, a beautician and a bull rider can do it then I can do it to. I can really control my own destiny, building my own career.

I’ve already helped others find their paths to fulfillment by showing them the path that I am on and walking with them on their path.

I know from experience that it is possible to do something you love while still using all the knowledge you’ve gained from pharmacy, even if it is a non-traditional career. If you want to ditch your J-O-B and create a career that has you feeling excited to get out of bed every day, let’s talk. Let’s take some of that down time to make the transition to a career you love.

One of the Greatest Ironies – Post 498

One of the greatest ironies of life is the fact that winners fail more often than losers. The fact is, most people spend their lives doing everything within their power to seek success while simultaneously doing everything in their power to avoid failure. That is a recipe that virtually ensures average performance.

Consider Thomas Edison, it was his one thousandth try before he created a working light bulb. Now you and I might say that he failed 10,000 times but when he was asked how he felt about failing 10,000 times he replied that he didn’t fail 10,000 times. He said that he discovered 10,000 ways to NOT make a light bulb.

Look at Colonel Sanders as another example. He heard 1009 “no’s” before he heard his first yes. He was turned down one thousand and nine times before his chicken recipe was accepted. He knew what he wanted to achieve. He knew his recipe was good and he took action. He didn’t see it as 1009 failures he saw it as 1009 fools that didn’t comprehend what it was that he had.

Think about this, as a kid we weren’t fazed at all when we heard the word no. We shrugged it off. We laughed at it. We flicked it away like a bug. We took it as a challenge. Somewhere along the line this natural tenacity was lost or even drummed out of us. What if we could get that tenacity back?

Consider this story, a Zen master and his student in search of knowledge where talking. The Zen master is pouring a cup of tea while listening to his student. The student is going on and on about everything he has learned when the student notices that the Zen master has not only filled his cup to the brim but was allowing it to overflow all over the table. The student then asks, “Zen master, can’t you see the cup is overflowing?”

The Zen master replies, “You are like the cup, full to the top with what you already know. To learn something new, one must first be willing to empty their cup.”

What if, starting today, you can get that tenacity back?

What if, starting today, the word no stopped stopping you?
What if, starting today, every time you heard the word no you became stronger? More powerful? More resilient?

And what if – in fact – having people tell you no actually became fun?

It’s time to empty that cup of tea, that fear of failure and accept the no’s because right around the corner is a yes that you would have never heard because you were afraid of the word no.