8 Critical Money Conversations to Improve Your Life

Good Money with Derrick Kinney

Derrick Kinney

Investing, Entrepreneurship, Business

5 • 1.5K Ratings

🗓️ 31 May 2021

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

You want to live a successful life while enjoying the retirement of your dreams—and that means managing and investing your money well. Today, Derrick shares the 8 critical conversations you must have so your money works as hard for you as you worked for it. If you don’t, you’ll likely miss out on the fulfillment in life you’ve always wanted.

What you will learn:

Why you aren’t wealthy—and how to get there
What to do with inheritance money
Putting limits on supporting your kids
Your mirror money decision
Talking to your parents about long-term care
How to spend your money in retirement

Quotes:

“Could you make more money, save more money? And could you pay down more debt? All of those are three powerful levers that can dramatically impact your financial situation.” – Derrick Kinney
“Money is work. It's a four letter word, and you've got to focus on it. You've got to monitor it. You've got to make decisions.” – Derrick Kinney
“You're not going to solve all of your family's financial problems in one hour.” – Derrick Kinney
“People spend more time though planning their family vacation than they do planning their retirement.” – Derrick Kinney
“Almost everyone wants the perfect retirement. Very few people get it.” – Derrick Kinney
“You don't want to just escape your job into retirement, you want to move into something, not just from something.” – Derrick Kinney
“We get one shot at maximizing our fulfillment and getting the most joy out of every dollar we have. What will you do today to make sure that three months from now you're in a better financial position?" – Derrick Kinney

Free Valuable Report for our Listeners: “3 Beliefs About Money Your Kids Should Learn That No One is Teaching Them”

https://goodmoneyframework.com

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Transcript

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0:00.0	Welcome to Good Money, where we believe money is not bad and good people should have more
0:11.8	of it.
0:12.8	Good money in the hands of good people gets good work done.
0:15.9	I'm your host, Derek Kim.
0:19.2	Today is a great episode and here's why we're talking about the eight critical money conversations
0:26.3	everyone needs to have, to have not only a successful life, but most importantly, a meaningful
0:32.3	retirement.
0:33.3	Today, I'm joined by my special guest host, Lauren, who's now going to put me on the hot
0:39.0	seat.
0:40.0	So, Lauren, take it away.
0:41.0	Derek, let's get started.
0:42.7	Number one, there's a question many of our listeners have and we have debunked this time
0:47.8	and time again with our framework and here it is.
0:51.7	Why can't I be wealthy?
0:54.8	Well, keep in mind, even as you think that, it's a real thought that you've got and
1:00.0	so you've got to do something with it.
1:01.8	So, one idea that I have and it's sort of a metaphor and that is you want to place those
1:06.8	negative beliefs about money, those holdbacks, that voice inside your head that says you're
1:11.7	not good with money or you're simply not good enough into a jar.
1:16.4	You want to put that jar on the shelf and step back from it and observe it.
1:21.2	And the purpose of that is you placed that problem in the jar.
1:25.6	You're now stepping back to observe it so you're no longer managed by it, you're managing
	...

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