022: Why Does Money Matter?

Today is a unique show in both structure and message.

Instead of our typical interview format, I want to address a topic that I’m convinced more than ever will have the greatest impact on your life. Yet, it is rarely addressed with the urgency and intentionality that it deserves.

As a private wealth advisor for professional athletes and founders I’m exposed to some of the most financially successful people in society. 

For many of our clients, they have achieved what most people spend a lifetime chasing, financial independence.

And what I have quickly learned is that having “enough” money doesn’t guarantee happiness. This is probably not earth-shattering news.

Yet, it has been my experience that very few people, regardless of financial circumstance can confidently tell me that chasing “more” money is not what consumes their time and effort.

That’s what I want to address today. 

At the beginning of every meeting, I make the statement that “money is not the end goal, it’s a means to an end.” and then follow with the question, “Why Is Money Important?”

Typical answers I here are:

  1. not having to worry about money
  2. providing for family.

But those are outcomes not purpose.

So we press deeper, why are those important to you?

And that is where most people get stuck. They can’t articulate why they are doing what they are doing. They lack clarity.

We find ourselves spending our lives pursing more and we don’t truly know “why.” Yet, we are shocked that when we finally “arrive” we are still wanting for more.

I’m on a mission to break this chain of events. 

When you meet with a financial advisor, the advisor usually starts by asking,  ‘what are your financial goals?”

I’m going to argue that while goals can provide us with a general direction to aim at it’s the wrong place to start. 

In his recently released book, “Atomic Habits” James Clear shares five problems of starting with goals

  1. Winners and losers have the sane goals
  2. Achieving a goal is only a momentary change
  3. Goals restrict your happiness
      1. the problem with a goals-first mentality is that you’re continually putting happiness off until the next milestone
  4. Goals are at odds with long-term progress

We have to learn how to let go of outcomes we can’t control.

Goals are good for setting direction, but systems are best for making progress and behind every system of actions are a system of beliefs.

The first step is not what or how, but who.

Who we are precedes what we do.

By knowing what I value, I truly know what I want.

Tim Mauer in “Simple Money” shares that, “our values are simply the stuff in life that we want to be about. That which we want to define us. The guideposts we chose to live by. Values are critical in financial planning as anchors for our goals and boundaries for the actions we take to achieve them. But most of all they make the hardest decisions in life much easier by helping us prioritize what truly is the most important. Understanding what you value most will help simplify even the most complex financial decisions.”

The starting point is clarity. 

In his book, “High Performance Habits,” Brendon Buchard shares that the most successful people know the answers to certain fundamental questions:

  • Who am I?
  • What do I value?
  • What are my strengths & weaknesses?
  • What’s the stuff that really matters?
  • Why is money really important to?

Money is a “means to an end.” What is your end?

I will leave you with an exercise that I found helpful in bringing clarity to who I’m focused on becoming. In Episode 20 I ask athletes to imagine that ESPN was doing a “30 for 30” special on their life. For entrepreneurs, imagine it was a Forbes documentary, what story would they tell?

  • What type of spouse were you? Parent, Friend, Teammate, Boss.
  • Who were you in social settings with strangers?
  • What defines the way you played the game or did business?

How will you be remembered?

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021: The Dirty Side Of Finance & Investments with David Byrne

If you’re trying to expand and preserve your wealth, then you probably wondering:

  • Who can I trust with my money?
  • How can I make sure that fees don’t wipe my profits?
  • What type of professional should I work with?
  • How can I as close to guarantee a return on my investment?

…and a lot more.

What’s worse is the varying degrees of advice you’ll receive when you go out seeking those answers.

As a Certified Fraud Examiner, David Bryne knows how to navigate the often “dark” space of finance.

David’s company, Bright Lights LLC, was founded in response to the statistics, articles, documentaries, and profiles of athletes cheated out of their money.

On this episode of Athlete CEO David gets into the dirty side of finance with the hops of preparing and protecting you.

A couple of things to listen for in this episode:

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020: Being a Pro On & Off The Field

You have heard it said before, “you are your greatest asset.”

My question is what are you doing today to increase the value of your greatest asset?

It’s time to start thinking like a business owner. The CEO of Athlete, Inc.

I know, you have heard it before. Most likely from your agent or a marketing company trying to convince you to “monetize” yourself.

Yes, making money can be an element of it but it’s far more important than just making money.

The truth is, how successful you are going to be during your career and after depends on it.

On this episode of the Athlete CEO Podcast I layout:

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019: From a buddy’s Garage to $60 million with Taylor Holiday

Taylor Holiday knows business.

After avoiding law school (which he calls a stroke of luck) he lived the glorified garage to glory story. Power Balance grew to over 100 employees and a $60 million valuation.

Today, as the managing partner of Common Thread Collective, Taylor’s team empowers eCommerce companies to reach new levels.

On the show, Taylor talks about three of the hottest topics on professional athletes and business persons minds:

  1. Startups & venture capital
  2. Balancing life & work
  3. Influencer marketing & networking

Some highlights from today’s episode:

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018: Neil Jones On Flying Your Own Path In Life

Ever feel like this?..

You’re trying to find your purpose, but you keep jumping from shiny idea to shiny idea.

So did today’s guest – until he found helicopters.

Neil Jones had a tough upbringing that required a lot of work and challenges that shaped him into a modern day entrepreneur.

In the chase of his passion and purpose, he went on to found Quantum Helicopters where he offers helicopter flight training.

Regardless of the perceived obstacles and lack of resources, Neil created his own path and learned what it took to be successful.

Professional sports isn’t much different…

Some people will doubt you, some will support. But, it’s the ones that work hard day in and day out that see the long-term results.

A couple of things to listen for in this episode:

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017: Inside The Most Powerful Sports Network – AthletesTouch

He used to pitch baseballs, now he’s pitching companies.

Justin Blaine embodies what it means to be an Athlete CEO.

Justin is the Managing Director of The Mentor Group, Inc. a full service, national investment banking, financial advisory, valuation, and appraisal firm.

He’s the Founder of AthletesTouch, an organization of former college and professional athletes working together to grow and succeed in the business world. Members range from being fresh out of a sports career to others with decades of business experience. Members ages may vary between 25-65, but the mindset is the same. Their members include Fortune 500 advisors, CEOs, entrepreneurs, start-ups, and professionals in real estate, finance, accounting, marketing, and tech.

A couple of things to look for in this episode:

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016: From NFL To Venture Capital, Ryan Nece Shares His Wisdom

Today’s guest, Ryan Nece, played 7 years in the NFL and went on to win a Super Bowl in 2002 with the Tampa Bay Buccaneers.

Following his NFL career, he went on to co-found Straight Cast – a mobile app that allowed athletes to create their own HD content. He then sold that company in 2014 to Fox Sports.

These days Ryan is the Managing Director of Next Play Capital, a venture capital fund that sits at the intersection of tech and sports.

He’s the epitome of what we think about here on the Athlete CEO Podcast, and we can’t wait for you to hear his wisdom.

A couple of things to listen for in this episode:

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015: Ethical Capitalism, Freedom & Wealth with Jeff Piersall

Doing what’s right and making money are not mutually exclusive.

Is this even possible in today’s world? Or is it a pipe dream?

Jeff Piersall, is convinced it’s not only possible- it’s inevitable.

Jeff, a former award-winning collegiate basketball coach, is the CEO and founder of SpaceCoast Living & SCB Marketing. He’s the co-founder of the TREP Summit, and Author of “Dogs Don’t Bark at Parked Cars” which has quickly become on the books I gift the most.

His entrepreneurial pursuits have been recognized as Business of the Year by Brevard County, INC. 500 Fastest Growth Companies and Grow FL “Top 50 Companies to Watch.”

Jeff believes successful entrepreneurialism is based on personal responsibility, a “sky’s the limit” optimism and, above all, value-based ethical decisions.

A couple of things to listen for in this episode:

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014: From NFL to AWM With Chase Dominguez

Today we’re giving you a peak behind the curtain as we sit down with AWM CAP’s Associate Planner, Chase Dominguez.

Pro athletes, you’re going to relate with Chase’s opportunity to play in the NFL (as a long snapper for the Saints) and how he’s translated his work ethic and discipline into his professional career.

Professionals and entrepreneurs will love hearing about Chase’s outlook on his career path and journey.

We’re proud to have him on board and we’re excited that he shared his wisdom on today’s show!

A couple of things to listen for in this episode:

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013: A New Way To Look At Being “Alpha” with David Freeman

Being “healthy” has taken on a definition these days that’s typically associated with “physical attractiveness” – which can deter people from ever getting started.

Enter David Freeman.

He has a completely different view on words like “health”, “wellness”, and “alpha”.

After attending the University of Richmond on a football scholarship David played for teams in Denmark and France before being drafted to the All-American Football League (AAFL). Before kickoff, the AAFL postponed its launch which triggered a switch in careers.

That’s when David turned to personal training.

These days David inspires his clients and community to transform their outlook on fitness and make lifelong changes to improve their health.

A couple of things to listen for in this episode:

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