I’m going to talk about a topic that I usually shy away from. I prefer not to discuss money because I’m not a financial expert, nor do I claim to be an investment strategist. I am nothing special, and I’m not particularly intelligent. However, I have made a few impactful and essential decisions throughout my career that have changed the financial trajectory of my life.
No matter what age you are, you can change your financial destiny. It’s never too late. I’m still trying to figure things out at almost 50. However, I’ve learned a few things and identified them as those that have genuinely changed my financial trajectory.
Three key things that changed my financial trajectory
Gave up on my dream. I’ve talked about this many times about my dream from childhood to own a fitness center. I attended college and earned a degree in business, and then I opened a nutrition store. I ended up opening a gym, but that business ultimately failed. Failure. I filed for bankruptcy, having half a million dollars in debt., being broke and bankrupt. I didn’t know what success looked like because I grew up without money. But as an adult, my friends seem more successful than I was. Here. I was driving a beer cart, not knowing what to do.
Started YouTube. I thought, what the hell, because it interested me, but back in 2008, there were only cat videos. I was on there talking about manscaping and shaving your private areas. There wasn’t money to be made when I started posting. I wasn’t tech-savvy, but I kept showing up and producing videos. This was the second-best decision of my life because I was willing to do something uncomfortable and push down the fear of failure and ridicule. I pushed aside the fear of other people’s opinions and did something that scared me. This is where actual growth occurs and where you can have your ‘aha’ moment. Success at that time did not look like being a loudmouth with an outgoing personality on YouTube, putting himself out there for the world to ridicule, pick apart, and criticize.
Started Pete & Pedro. I used $3,000 to begin my opening inventory order. I got boxes, shipping containers, and a label printer. I had a website as well. It started small and became profitable. If you’re going to start a side hustle, begin small and focus on generating a profit. Profit is king — especially for advertising, additional products, and paying yourself. Don’t be afraid to charge what you’re worth.
Critical side notes
As a side note, I also firmly believe that marrying my wife was another one of those decisions that significantly altered my financial trajectory. When I met her, I stopped chasing and looking. My bandwidth and brain power went to productive ventures.
I didn’t have any children either, which is another reason why I feel like I’ve been successful. Kids aren’t necessarily bad, but they changed the game regarding risk tolerance and stability. These kids are dependent on you. With a wife and children, I was able to focus and take more risks because I didn’t have the pressure of providing for a family. I was able to be selfish and invest the time and energy to grow a successful business.
I also want to mention that I have lived below my means. I don’t go into debt, and I don’t overextend myself. When I filed for bankruptcy, I was in a weak financial position. Now, if I can’t afford to pay cash, I won’t buy it. I sleep better at night and enjoy not owing anyone. I don’t have any high-interest credit cards or debt, including mortgages, credit cards, or people. This makes me feel good, and I use extra money to invest in beneficial ways
