Wealth is about a lot more than money. Tune in for a really great exercise you can do at home to measure where you are at, holistically, and then set your sights on what is next!
About Indestructible Wealth: I’m Jack Gibson. I’m your wealth strategist and I’m here to help you make some money. The Indestructible Wealth Podcast is for young entrepreneurs who want to make, keep and grow wealth to enjoy now, and for years to come.
Episode #51 – The REAL Meaning of Wealth
Podcast Episode Transcripts:
Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.
Welcome to the Indestructible Wealth Podcast. This is the place where we help young entrepreneurs to make, keep, and grow wealth that you can enjoy now, and for years to come. I’m your host Jack Gibson, a serial entrepreneur, founder of multiple seven and eight figure businesses, and wealth building strategist. Each week I’m going to share my tips, resources and secrets, to help you create a plan and build the life you’ve dreamed of.
We call it the wheel of whole life success. It’s called the harmonic wealth wheel. It’s called wheel balanced riches, the wheel of wealth. It’s got so many different names I’ve heard over the years, but this was actually introduced to me and it was really kind of cool and my opening in terms of how we view the word wealth. So what do you guys think of when I say the word wealth? Put it in the chat, like what’s maybe the first word that comes to mind or 2 words or whatever, but when I say wealth, what immediately do you go to? What is your mind drawn to let me see the chat. Living well. An abundance of something. Freedom, money. Yeah. The best life you can. Hard work, Stability. I don’t know. Happiness.
I feel like you guys are not telling the truth. I think your mind goes to money. That’s the American, he probably maybe you could be you guys are at a different level of development because you have personal development. So you like in the top 3%, if I asked this question to most Americans are going to say money, right? Certainly.
Not having to worry about bills for sure.
So the original meaning of the word well actually means like the original intended version of it means wellbeing. Now, what part of that means money? I hear the word wellbeing. My mind is definitely not drawn to money. The original kind of intention of wealth in terms of wellbeing is a whole rounded approach to your life. How are you holistically? Another word I think of is holistic wealth, right? So when I was first introduced to this, the last exercise I’m going to give you guys is it was like, wow this is mind blowing because I never really thought about wealth in terms of anything other than blinders on got to make money, got to make more money and I need to accumulate money and I need to keep it and grow it type thing. That’s only 20% of the whole general concept of what really having true wealth is. So the guy that actually introduced this to me, his name is James Ray. I was at a seminar of his, it was called power to win. It was one of my first seminars that I ever went to. And it was mind blowing and he introduced concepts and ideas about what you think and focus on and how you think about your overall wealth in your life and that was back in 1997 when I was just a sophomore in college. I didn’t have that much money at that time and a pitch was put on me to go to this seminar for 2 days in Chicago, the ticket was like $300 and that in addition I had the hotel costs and food and transportation and all that was looking at $600, $700 to go to this thing, maybe more. And again I’m a sophomore in college, so it’s not like you guys ever think about a college student. You don’t actually think of financial wealth when they come to mind.
Look, people put the pitch out and they said, this is going to be very valuable. This is really going to help you. So I went and so we did this exercise that we’re going to do right now and so we what we going to do. Let’s grab a blank sheet of paper. You don’t like, just like whatever 8×11 or whatever you got nearby. So grab that, grab a pen and this can’t be done on your phone. I don’t think maybe you guys can figure out how to do this, but I think there’s a lot easier and quicker if you just grab a pen and paper.
So you’re going to draw a big circle then what you do is you put a dot right in the very middle don’t freak out about it, it doesn’t need to be a perfect circle, like just draw a circle and it’s okay, if it’s not exactly perfect. And you’re going to put 5 spokes from the center out to the outer. So it looks like that, right? Like the spokes on a wheel. All right. So then on the outer spoke where it meets you get to write these 5 words. So you got to put Physical and you’re going to write another one you’re going to write Financial on another one you’re going to write Spiritual and then you’re going to write Relationships and then you’re going to write Mental/Intellectual. So again, the 5 are Physical, Financial, Spiritual, Relationships and Mental/Intellectual.
Now, this is where you just got to give it some thought, but don’t get it. Don’t over think it don’t over analyze you don’t have to get this perfect. We’re just trying to get a snapshot of where you’re ranking yourself in these 5 areas of your life. Now these are all areas of wealth. So if we think about the Physical wealth, right? Think about how people that lose their health how much money, they’re a millionaire, multimillionaire, they lose their health. How much of their money would they give to get it back? All of it. So having health, having fitness, having vitality, having energy, it’s a very important and to say that’s not like extremely important in terms of how it affects your whole holistic life is you we’d be lying to ourselves if we did it, there’s studies that show that people that are physically fit and healthy and have energy they make 50% more than people that are out of shape. I get staggering. It says a study was done and look you can like it or not like it, but it’s the way that the world works. Now there’s 2 parts to that.
1 part of that is when you have physical fitness and energy, you’re able to perform at a higher level, surely. We all know that, if you’re feeling good, energetically fit, you’re going to feel better you’re going to be able to do more production, more activity you’re going to move more, right? You’re going to be able to work longer hours with more productivity within those hours. You’re going to run circles around people that are out of shape, production. You’re going to be able to produce more. You’re going to have clear thinking. You’re going to have clear ability to make better decisions. So what’s really important to note about all of these 5 is that each of them affects all of them. So when one of those drops really low, I don’t think it’s really probably possible to drop all the way to 0. Just I don’t think that it’s possible for one of these to go all the way to 10. Because there’s always room for improvement. But if you’re down low, if you’re ranking at a water or two in certain areas, what that’s doing is that it’s dragging down the other 4. So if your physical fitness isn’t good, then that certainly dragging as we just talked about this dragging down on the finance part of your life. If the physical fitness isn’t good, potentially it could be dragging down on your relationships and in certain ways. So think about your finance, if your finance isn’t that good, well studies show that the majority of marriages end in divorce because of finances. But certainly is true back to Zen. That’s what the statistics are you can argue with that. If your finances isn’t good, then you don’t have the money to maybe do the books and the courses and the seminars and get the coaching that you need on the mental and intellectual side. Then, that one could be dragged down as well. So I’m just talking to each of these so you can just start thinking about them as your kind of market yourself.
While I’m talking to you guys can start rating yourself. So let’s just say you’re going to rate yourself on a one to 10 in each of these areas. So if you’re 10 you’re going to put a dot right here, on the outer edge, if you’re z0ero, it would be like way down here. If you’re a 5, it’s going to go right here in the middle. 7 about right there, 8, 9, 10. So that was where you going to put a dot for each of these areas of your life where you think you’re at right now.
So physical, like thinking about this in terms of each 1. A 10, what’s a 10 on the physical fitness? Physical health? Best shape of your life. Totally like straight, your energies peak. You’re working out you’re on point with your workouts or meal plan, your nutrition, your supplementation, your water, like you just your nail and your plan. Feeling great. Looking great. Bam! Like you’re the peak. That’s a 10.
Financially, what’s a 10? I opinion, on the financial side you’re 10 when your financially free. So the definition of financial freedom is when you add the money from your assets so that’s all your things you purchase invested into when that money that comes off of those pays for all of your expenses every single month to where you never have to work again because the money just keeps replenishing each month automatically. That’s a 10 out of 10. We all have to start where we’re at and get better and grow and the whole point of this is not so much to be tough on ourselves and where we’re at now it’s just to evaluate so we can get better. So you can say, okay, I need to grow in this area. That’s it like there’s no right or wrong with any of this. There’s no reason to beat yourself up. That’s not helping anybody or anything. But it’s also good to not have your life headed in the clouds and say, oh yeah everything’s fine when everything’s really not binding, you really need to be dialed in but making a focus on making changes in certain areas of your life.
Now Spiritual, that’s a tough one to quantify. I’m not really qualifying to really talk too much on this one. Overall that would be the connection that you have to your creator. To me it’s not just that connection but it’s the practice of that connection too. I don’t know what else to tell you beyond that. That’s up to you to be able to determine where you’re at in that realm. Really not able to tell you too much more.
And then Relationships, 85% of all your happiness in life comes from your relationships with other human beings. That means if we look at everything in life has polarity, right? So what do I mean by that? There’s good. There’s bad. There’s tall. They’re short. There’s success. There’s failure. There’s hot. There’s cold. Right? Everything in life has polarity, good and evil. So that means if 80% of your happiness comes from your relationships with other human beings, that means 85% of your Misery comes from your relationships with other human beings. Never had an argument with your spouse, promise you that you’re not very happy in that time at all. I have an amazing spouse that we have incredible relationships that creates an awesome level of happiness for me. Oh, Kara’s on. Hey honey I didn’t even know you were on. That’s great. I’m glad you’re here.
I would say that whether she were on the zoom or she not on the zoom. So you guys know that.
And then mental and intellectual. Yes, she is hot too and I agree. She’s very hot.
So what’s mental and intellectual? That’s how does time are you engaged in increasing your knowledge? Books, podcasts, taking courses, going to seminars? How much are you really feeding positivity into your mind? What’s going to detract from this is what you do in the evening time, especially right before bed. So I’ve had to snap out of it because we were watching a show that was really negative. It was great, super dark, both pretty negative and I knew that it was affecting me. I’m not immune to it. So I’ve been working on breathing something positive before I go to bed because it goes into your subconscious mind and then it sits there all night. So don’t pay your bills before you go to bed. That’s a terrible time to pay your bills because then you’re going to think about and worry about it just don’t have the money or I’m short on the money. This is going to drain my account. Oh no, that’s terrible. Definitely don’t watch the news before you go to bed. That’s even worse because it’s all negativity. So watch and guard your mind. What are you feeding your mind on a daily basis because it’s they say garbage in garbage out, if you put good stuff in the garden of your mind that you’re going to get a great harvest that’s going to come out of it. So it gives you an idea of how to think about each of these 5 areas. So then you get to rank yourself. So I’m just I’m just going to go and give you an example this is not mine, but this could happen. So let’s just say mentally/intellectually I’m a 9 physically I’m a 7 financially I’m 8 spiritually I’m at 2 and in relationships on 3. So then once you’re going to do you’ve got the dots there, right? You got to connect them with lines. So I connected all like that’s, see?. Now the question is can the wheel roll? That’s the big question. Can your wheel roll? Can this wheel roll? No. This wheel is cannot spin around and roll. It’s very unbalanced right here. So the goal is you want a wheel that is has more harmony to it. Now here’s my mentor, James Ray told me, he said, balance is bogus. You’re never going to be perfectly balanced and have this perfectly round wheel at any point in your life. It’s just way too difficult because sometimes in life you’re going to just hyper-focus because you need to and it’s that season of life and you’re going to hyper-focus on your finances. You’re going to get some things repaired. You can get that. You’re going to bring that up and then other times like you’re going to maybe lose sight of a couple of the others because you’re hyper-focused on maybe 1 or 2 areas of the total of 5. It’s impossible as a human to be perfectly focused on all 5 at the same time, we put the same energy into all 5 of them at any one time. So there’s going to be times where you’re going to pick out 1 or maybe 2 of these and you’re just going to hyper focus on that and you’re going to bring that 1 up because that 1 or 2 things it’s ranking so low that it’s dragging everything else down. That’s what is a meaning of harmonic wealth or whole life success is where they’re all 5 of them are working together in harmony and they’re always in constant movement they’re going up a little maybe coming back down a little bit and that’s okay. You’re not going to be growing in all areas of your life at all times. It’s really not possible. It’s a part of the human experience.
What do you want to look at? The question that I get a lot and I know the leaders on the call get this question a lot over the years. What should I do for personal development? That’s a great question. The answer is it depends, right? The answer really is do this exercise look at your wheel and then I would hyper-focus and do your personal development. For example, if you’re low in relationships and in the spiritual life I’d be looking at personal development that can really hyper focus on these 2 things. Does that make sense then you’re drawing these back out right now where these 2 are at. I guarantee that they’re pulling down and draining the resources and the ability for you to be good and strong in these other areas. So these 2 are dragging the other 3 down so we want to focus or really bringing these back up so that you have more harmony with your wheel and your wheel can roll, and again it doesn’t sound going to be perfectly balanced but it’s going to be working together. They’re going to be all working together in harmony and there’s not going to be 1 or 2 areas of your life that’s going to be draining resources and energy and draining in general the other ones and pulling them down for you.
So that’s that. So what personal development would I recommend like for somebody that says, okay, spiritually man, I’m down at a 2 or 3, I’m really dragging, I’m really low in that area. This was probably, I would say this was my wheel probably let’s say 8 or 9 or maybe 10 years ago. This was where I was at like spiritually a pretty low in relationships weren’t all that good. We’ve always had a good relationship with Kara and with my team. My relationship was pretty awful because I thought that I wasn’t being very encouraging as an upline and it was all about volume and production and money and let’s go and so I wasn’t creating relationships with my organization so that’s when about that time where we decided that we were going to implement the royalty of retreats and the quarterly type get together experiences that we started doing so that we could gather the team more together create more of a tribe and unity and to build strong longevity and long lasting relationships within our organization so that we could all be working together tighter and knowing that each other has our back.
You got to consider that an area of your wealth and if you’re not plugging in to the tribe you’re let’s say you’re outcasts, but you’re kind of withdrawn you’re not fully engaged with the tribe, because for whatever reason, I would really look at that what’s inside, what’s going on with you that could potentially you could be working on so that you could be more connected and engaged and working together as a team, working together having each other and supporting each other’s backs. It’s not to say that you’re always personalities are not all going to jive. It’s a possible, like when you put a group of 40 people together, not everybody’s going to like each other. That’s all right. Can we get along? That’s important, you’re on the same team. So that’s what I would be looking at is really those relationships that you have with your team. We’re not in competition with each other, we’re here to boost each other up because the rising tide rises all ships.
So the spiritual life, like when I look back 10 years ago wasn’t going to church, I hadn’t found a church that really spiritually kind of nourished me to where I really felt like I was getting the right message that was relevant for me or I should say going to church maybe but very reluctantly very haphazardly wake up on Sunday morning and did not want to go. So it’s waking up with inspiration instead of obligation. We weren’t giving we were at least for me I wasn’t giving I wasn’t doing any type of charitable giving or giving of money or time whichever one you have to get that creates a really strong and better relationship with your creator I can promise you that.
So we weren’t doing those. I wasn’t doing those things. I shouldn’t say we I’m not speaking for Kara. I’m just saying me. So I really went to work on those 2 areas and everything grew in my life. Working on the spiritual life and the relationships grew my financial life it accelerated our ability to accumulate wealth. I got the idea once I got the spiritual connection and the relationship and then I got into that and then I took my physical results and help to a whole new level and always been pretty good about reading books and nourishing making sure my mind was properly nourished we’ve always been really consistent about that over the years, I should say.
So I guess that’s pretty much what I wanted to cover with you guys. If you guys want to ask any questions about this or a shares that’d be great. Yeah, I know we’ve got maybe a few minutes for that. One thing I encourage you guys to do you want to hear it from my original mentor, that James Ray, that we talk about. He’s I interviewed him on my podcast, Indestructible wealth. Its episode number 30. It’s an incredible interview. This guy was one of the fastest growing privately held businesses in America. He was on Oprah Winfrey. If you’ve ever seen the movie, the secret, he was the main let’s say actor, but he was the main speaker on that movie. That was a worldwide phenomenon movie. That was a huge, it turned into a book as well and like I said, he was on Oprah at least 2 or 3 times he would sell out his seminars. I remember processing credit cards for him at the back of the room I was a volunteer for one of his weekend events. The amount of money that was coming in, I blew my mind. It really opened up my mind to what was possible as far as making money. Let’s be more coming back swipe in $10,000, $20,000 for seminars. So I got the rare opportunity to interview him and he has an incredible story of from the Heights of success to the total darkest places of humanity and this high, this low, and then where he’s at today and he talks about this concept of harmonic wealth. So again, that’s episode number 30. You can pick that up on apple. It gives a lot of other really great ideas on that interview as well and then while you’re at it. So awesome the value that I’ve given you just hit me up with a 5 star review like it’d be great to boost me in the algorithm. I’m trying to dominate the algorithm you guys, not easy.
Cool. So any questions, shares, feedback on this, I’d be happy to answer or just hear what you have to say about doing the exercise. Why did you see that you need to work on if you want to be, share if you to be better.
—–Okay. So I remember you teaching this 2 years ago at royalty, and I don’t even think it was a circle like it was like this big old mess and I was like, I need to fix this and then I just did it. And it’s a big old mess. So thank you for giving me clarity on what I need to fix because it’s a big old mess. And yeah guys go get his podcasts. Do his 21 day challenge indestructible wealth. Let’s go.
Jack: Okay. Come on. It’s not a mess. You’re being a little hard on yourself.
—–It was a mess.
Jack: So I’m sure it made, you’ve got to make big try. Who’s talking?
—–I don’t know. My grandma’s said it’s a mess because she just had to button.
Jack: Okay. All right. Got it. Okay. It’s not as messy as it was 2 years ago. So you’ve made some, I know you’ve made some big strides.
—–I’m getting a little better.
Jack: Anybody else questions or anything you’d like to share? Well April?
April: The funny thing is Jason and I were sitting here we’re like, we’ve heard this so many times, but yet I was like below the call and I was like my wheeling not all that balance. So apparently I needed to hear it again as well so definitely thank you and I was really trying as you were speaking, lift you up jacks to close this call out, but it’s fine we’ll think about them later now. Just kidding. Definitely appreciate you. For real Jack and I have heavy amounts of sarcasm because that’s just how our friendship is. But the truth of the matter is when it comes down to understanding the business, understanding financial stuff, knowing what you need to do. Jack has always been like the straightforward starting to get your shit together April, or this isn’t going to change and that is probably the best thing that’s ever really happened. So I really do appreciate that and your fun and you like to do fun things and you’re very competitive and you win at everything. Is that enough? Can I be done?
Jack: Nope. Keep going! No I’m kidding. That’s great. You could have just said you went at everything and then I would’ve been totally out of it about you said it all then it will be totally fine.
April: Except you raise a plan that you’ll waiting for. Waiting for the raise with John. You guys, if you have not see I just went to pass it really fast. If you have not listened to his podcast, think of what he said about being in the car and you’re writing. I don’t know about you guys, but I spend a lot of time in my car because wherever Kelsey is, Kelsey Klein, I’m like a human show sometimes. So think about what you’re putting in. I do listen to his podcast and I don’t know about you guys if you’re listened to many, some of them can be boring. I can assure you his are entertaining at best. Okay. So there is it’s not one of those like boring monotone speakers there’s entertainment and value at the same time.
April: All right, Jack. Thank you again for being willing to share and you guys have an amazing night.
—–Thank you, Jack.
Jack: Yes you got it. Have a great night.
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