Special Guest Expert - Joseph Reinke

Special Guest Expert - Joseph Reinke: Video automatically transcribed by Sonix

Special Guest Expert - Joseph Reinke: this mp4 video file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Brian Kelly:
So here's the big question. How are entrepreneurs like us who have been hustling and struggling to make it to success, who seem to make it one step forward only to fall two steps back? Who are dedicated? And driven. How do we finally break through and win? That is the question. And this podcast will give you the answers. My name is Brian Kelly. This is the mind body business. Hello everyone and welcome, welcome, welcome to the Mind Body Business Show. We have another phenomenal show lined up for you tonight because of a gentleman by the name of Joseph Reincke. He is on. He cannot wait to come on. He is scratching at the monitor saying, I'm ready, let's go Brian. Just a minute, Joseph. We'll get going here in just a moment. The mind body business show. It is a show that I had developed with you in mind. And when I say you, I mean the entrepreneur, the success or the business person looking for that next level of success that you can attain. And what I do is I bring on successful entrepreneurs from all over the world, and what I do is I interview them and extract and elicit their values, their strategies, their their success stories, so that you can take notes and then take action on those notes. I've been running this show for almost five years now, and I'll tell you, as the host, I have learned an ungodly amount of amazing tips, strategies, techniques, approaches, mindset, everything and it has been an absolute godsend for my business. So I'm speaking from experience and it is about what I call the three pillars of success. And what happened was about, oh, for a period of about ten years, I studied and concentrated and focused on successful people thinking, well, what is it that perhaps makes them more successful than me? Do they run and jump and put both legs in their pants in the same time versus me? I'm one leg at a time. I mean, what is it? What's different about them? And through that process, I learned that three things kept bubbling to the top. And those three things are part of the title of the show.

Brian Kelly:
And these are the three pillars of success. Mine means to a person. Each of these successful individuals had developed a very positive, very powerful. And here's the most important part of very flexible mindset. And in body. Body literally is about taking care of oneself. These people took care of themselves and still do take care of themselves, those that are still with us, that by exercise and by intake, nutrition, food and liquid and then business, business is multi, multi multifaceted. And these individuals, what they had done was they had mastered the various skill sets that are necessary to build and run and then scale a successful business skill sets like marketing. Systematizing, you know, building systems, team building, leadership, sales and the list goes on and on. And it's really interesting because the other cool thing is, look, you know, as an astute listener of this show or watcher, I hope you're watching live a lot more fun. And that is that to master any one thing. And in this case, a skill set can take a very long time. It's often said that it takes, oh, I forget the number 4000 hours. Maybe it was 40,000 hours to be an expert in anything. It's a lot, a lot. And the good news is you don't have to spend that amount of time to master every single skill set. And not even the little subset I just mentioned. Literally all you need to do is master just one of them to get going. And that one skill set. If you'd like to know, go ahead. I'll wait for you to say you want to in the comments. I'm waiting. I'm kidding. I'll tell you what it is. It is the skill set of leadership. Yes, once you are in the you could just be in the process of mastering it. You don't have to achieve mastery yet, but be focused on mastering that skill set. And then what you can do is leverage that into bringing on other individuals who have already or are very close to mastering those other skill sets I just mentioned and beyond, and many more. So that's good news. So it's really important that you leverage skills of others, because if you try to do everything yourself, you will burn out.

Brian Kelly:
And I know Joseph will be able to relate to that when he comes on and he's coming on very, very soon. And another great thing I found out about all these incredibly successful people is that to a person, they were also very avid readers of books. And so with that, I'd like to segue into a very short and brief segment I affectionately call bookmarks.

Annoucer:
Bookmarks. Born to read. Bookmarks. Ready. Steady. Read. Bookmarks brought to you by Reach your Peak Library.com.

Brian Kelly:
Yes. There you see it on the side. If you're watching live. If you're not watching live, then why aren't you? You should be at the mind body business show.com. Go to that website, click on any of the buttons that say where and how to watch and opt in. Enter your information. You get a free gift. Like I forget, it's a $300 discount hotel discount card and that's compliments of my company. And all we'll do is announce to you the moment we go live every show, which is once a week. It's not that often, and you can opt out at any time and keep the hotel discount card, but that is how you can get on and be here and interact and engage not only with myself, but most importantly with guests like Joseph Rank. So do that. Go to the mind body business Show.com after the show is over. And on that note, a quick aside and a word of advice. You're going to be hearing about resources. You're going to be hearing about websites, perhaps books, perhaps systems, services and wonderful things. Because Joseph is a wealth of information. And what I would implore upon you to do is rather than succumb to that little itch, to go check it out while the show is going, while you're listening on, on your earbuds, however you're ingesting this. Instead of doing that, I would implore upon you to write it down. Write it down. Like reach your peak Library.com write that down and then visit these resources after the show is over. I found this very interesting because early on in my speaking career, from stage I would be speaking and I'm getting to that. I know juicy part. I'm the speaker, I know where the good stuff's coming. And then you get there and I see 1 or 2 people are starting to get up to walk out. You know, they're looking at their phone because they have that all important text message or ones, they're crossing their legs. They have to go to the restroom. And I thought, whoa, I don't want that to ever happen to them. And I certainly don't want it to happen to you.

Brian Kelly:
And so what I say is the magic happens in the room. Keep your focus on Joseph Rank tonight or today, whenever you happen to be ingesting this information. And then write, take notes and then visit all the resources after. I would hate for you to take your focus away for that one. Even micro. Second, when Joseph gives you that one golden nugget that could literally catapult your business to the next level. All right, that is my soapbox moment. I'm stepping down from that and reach your peak library very quick is a resource I developed. And I'm not kidding when I say with you in mind, it is basically a gift because it is a collection of books that I personally have read and I vet, so it's not every book I've ever read. And these books had to meet two criteria, or a couple is they either made a profound impact on my business life or my personal life or both, and that is it. And they're not in here. The books you're seeing scroll up are not in any order. There is no rhyme or reason to how they were put in here. It was basically when I finished reading it, I said, hey, go to the team member and say, put that on that next one on the website. I'm actually way behind. I got to start updating them on more that I've read, and so I didn't start reading until, gosh, what is it now? About 12? Yeah, 12 years ago. I'm now 40. Well, that was when I started reading when I was 47. And so yeah, you're all doing the math. I'll give you a second to figure that one out. I'm 59 at the time of this. It's all good, I love it. And so I realized the incredible importance of reading and what it could do for myself, my business, and literally my relationships with my my wife, my kids and associates as well. All right, that is enough of my yammering. Write that down and reach your peak. Library.com. It is time to bring on the man, the myth, the legend. He's the man of the hour. We got to bring him on.

Brian Kelly:
It's Joseph rinky. Here we go.

Annoucer:
It's time for the guest expert. Spotlight. Savvy. Skillful. Professional. Adept. Trained. Big league. Qualified.

Brian Kelly:
And there he is, ladies and gentlemen. Yes, it is the one. It is the only Joseph Rink. Welcome to the show, Joseph. How you doing, brother?

Joseph Reinke:
Doing good. Thanks for having me. I'm excited to be here. So.

Brian Kelly:
Oh, man, I've been talking about. Yes. I was truly enjoying our chat before we went live. So Joseph is a fellow alumni of a college we both attended called California State University in Long Beach, California. Don't hold that against us. But it's the 49 ers. And it was a phenomenal college back in that day at least when I went I don't know about you Joseph. If you share that because you're much younger than I am.

Joseph Reinke:
Yeah. We went for sports so yeah. No it was it was a good school. I enjoyed my time there. Yeah.

Brian Kelly:
Yeah. Had a lot of fun. It was it was a great, you know, kind of a beach town. It's not really known for its beaches, but it just had a cool vibe. And I enjoyed my time there and had a had a blast with my, my wife, who we were a high school sweethearts, and we stayed together all through college and got married and didn't have to go shopping around. It was awesome. So I had a good time. All right. So let's introduce you, Joseph professionally. Let's start there and I will bring you on officially, formally and let people know a little bit about you, where you're coming from, your accolades and such. Does that sound good?

Joseph Reinke:
Works for me.

Brian Kelly:
All right. Joseph Rank, he is a chartered Financial analyst, CFA and founder of Fit Bucks. As you see there, right on the screen. I know you see that because you're watching, right. Which has helped young professionals manage 2.6 billion with a B dollars in assets and debts on their journey to financial freedom. Joseph has personally invested, has been personally investing since he was 12 years old. I'll bet he'll attest, though it's never too late. In addition, he has experience in student loans, mortgages, wealth management, investment banking, valuation, stock trading and option trading. He has been on hundreds of podcasts and has been invited to hundreds of universities to discuss financial planning with their soon to be graduates. He now serves as an adjunct professor for six universities teaching financial wellness curriculum. He's all over the place. He's sharing his wealth of wisdom about word wealth in there on purpose. And this is the man, Joseph Rank. Everyone welcome him to the show with me. Thank you, thank you, thank you. All right. So. Joseph, I love to kick kickoff things with the very first word of the the name of the show, and that's my mindset. And so what I love I'm so curious about this. You know, being an entrepreneur, working your own business, calling your own shots. It is like the easiest thing on the planet, isn't it? You just, you know, you set things in motion. You get in your hammock and you swing back and forth. You have that umbrella drink, and the millions just start coming in because it's so daggone easy. You know, I'm being facetious, I get it. Yes. So it's anything but, and that is that is why there are so few of us on this planet, percentage wise entrepreneurs. We are the risk takers. We are the ones that are going through every single day, solving issue after issue after issue. That is almost the definition of an entrepreneur is solving problems for other people and for yourself. And so when you get up in the morning knowing you have all of these things you face every single day, way more typically than, say, an employee of another company, what is going on in your big, beautiful brain when you get up in the morning that keeps you driven, it keeps you motivated. That is just right there saying, this is the reason I'm doing this and I will never stop, no matter how bad my day gets. What is it for you?

Joseph Reinke:
Yeah, it's I mean, I call it my quote unquote North Star. Like, you know, when I was younger, growing up, I came up from a family of entrepreneurs and growing up in Silicon Valley as well. Right. So I've been around a lot of startups and stuff. And you're taught at a really young age. It's like, look, a lot of startups have great ideas, but that doesn't mean they're going to succeed. And it's like, so what's the difference, right? And what I learned from a really young age is that mindset of, you can't be doing this because of money. Like money cannot be the motivator because when shit hits the fan, if that's your only motivator, it's always easier to go get money somewhere else. Like there's always something you can do. Like, I don't need to start this company. I can go work for a finance company and make a couple hundred grand a year and I'd be fantastic, right? So if money is your main motivator. It's going to really stop you. So what keeps me up and, you know, get me up in the morning. And by the way, I haven't used an alarm clock in seven years. Okay? Like, because you have that excitement to wake up. Yeah. Is the fact that, you know, you're getting up to help people. Like at the end of the day. And for me specifically, it's with their money. And it took me a long time, like because I was sitting on this idea for 50 bucks for for a while and at the the reason why I never really started it was because I didn't have that North Star. It was all about, oh, well, I can make a lot of money if I can do this. But I knew that wasn't enough. And, you know, dive deeper into that because I was sitting on it and I went to a retirement party one day for somebody that's in the physical therapy industry. And she she didn't ever actually be a physical therapist. She wasn't an administrator that ran a program that's like a fellowship program. And she did it for like 30 years. And she never treated a patient.

Joseph Reinke:
But the 405 hundred people that went through that program, they not only reached tens of thousands of patients and millions of patients, but they also taught thousands of other pets. And because those pets were able to help all these people get back to a healthy set and a healthy body and everything else, those people then turn around and were able to focus on things in their career and let it be technology, engineering, health care, whatever it was. And I was like, Holy cow, like. If I can do this with money, you know, getting the anxiety and the fear because, I mean, when you look at statistics around money, when it causes like suicide and divorce and all that type of stuff, if you can reduce that anxiety around that, that people have, you're improving people's family lives, you're improving their health, you're improving everything about them. If you can reduce that stress and anxiety. And so that's the main motivator. Every day it's like, look, I'm helping people do this no matter what hits the fan every day. We're helping people do this. And it could be the smallest thing ever. Like, I could be having a bad day and I go look at YouTube. I'm like, hey, we had one view on our on our video. It helped somebody like, this was a fantastic day, right? Like that's when we were first starting. But that mindset like to answer your question, like what gets you up in the morning? Why are you doing this? You got to have that. And for me, it's, you know, helping other people in one fashion or another, directly or indirectly. And that's at the end of the day, you have to have that unless you're going to flame out very quickly.

Brian Kelly:
So true. You know, a lot of people who are just starting out in their business, they focus, they seem to focus on the money aspect a little bit more, but they come from a place of scarcity because they're just starting out and it's natural. So I just wanted to kind of make that comment that those that are in that position know that that's a natural step. Unless you disagree, Joseph, because I would love to get your opinion on that philosophy, because I've seen I've been there where I'm like, I need the money to keep this thing rolling. So my focus was more on money. Even though I love and always have love from the day I was born helping and serving people. But, you know, at one point I had to you have to make the money and you have to focus on it more. What are your thoughts on that? Yeah.

Joseph Reinke:
So reached in back into like my sports background and some books like I don't know if you guys know who Bill Walsh is. He used to be the 40 Niners head coach. He has a great book called The Score Takes Care of Itself, and basically he's talking about football and stuff. But he went to Stanford and actually taught this as a business course where it's like, look, you just do these things. Eventually the score will take care of itself, the money will come. And the biggest part is not the focus on money. It's the fear, like the scarcity. Like, if I don't make this money. I'm going to. I got to have to shut down. I'll have to do this. I'm gonna have to do that. And that fear drive fears negativity, right? So when you start focusing on that, guess what's going to manifest? Whatever you're thinking about and fearing I'm going to run out of money, you're going to do that. And I had this training going into building blocks and everything took off great. And when Covid hit, like it took our first product completely off the market and our revenue just completely tanked and almost for a year. It's like I forgot all my training and everything. I was like, we're going to go bankrupt. We're going to go this like, if I don't have, well, guess what happened every month? Instead of actually finishing products and getting revenue out and helping people, I lost track. Me personally lost track of that North Star and the company got worse and worse and worse. And then all of a sudden I was just like, I don't know why. Like, I always talk about it like I like being by myself because it allows me to think right. And so I wasn't by myself at all for like a year. And then one day I was on a flight. I'm like, I'm not answering emails. I'm not doing anything. I'm grabbing one of my old books, like psychology books. I'm just going to read it on the flight, just put my head on and just read like three pages. And then my mind just started wandering and I was just like, why did I do this? And so from a scarcity standpoint, the money standpoint, the biggest trick there was like, yes, you need it. But if you focus too much on it, that fear is going to creep into your life no matter how much training you have. And then all of a sudden that's what's going to become reality for you.

Brian Kelly:
I love that, thank you so much. So eloquently stated because yeah, it. And then as you as your business develops and as you get over that first hump and you're able to focus on really what drives you. And I say that in a general sense, not just Joseph Rank, but what I found Joseph, is I've interviewed, I don't know how many now, several hundred on this show. And the common denominator to every successful entrepreneur or business person is their attitude of serving others. That comes before all other things. The focus. Yes, we all get it. We have to make money. But like you just so eloquently said, Joseph, you focus on it. I think that's a recipe for failure ultimately, because you really got to have like that North Star. I always hear your why, but North Star fits too, and it's very important to have that and to be someone who enjoys literally and gets joy from seeing others succeed by helping them to get to that point. And that's what I've seen time and time and time again, interviewing people just like you, Joseph, that that is what truly drives everyone. And it's so heartening. I love it. It's because, you know, it's like, yes, we do have people with actual hearts out there.

Joseph Reinke:
Yeah. They emphasize that too, I mean. The big thing, like where we sell a really big turning point in the company was. Like what? I went from that fear mindset to the positivity like, because I was so fearful of losing the money and everything, I started missing opportunities. And so I had to come. I mean, at one point, I even floated out a half million dollar personal loan to keep the company afloat. So it's like, oh shit, like my wife's going to kill me. Like if, like, we don't make money on this, like blah blah, blah, blah, blah. And at one point I was like, well, look, going back to the North Star, I can help people. And yes, we want the tech to do this. This is what I had envisioned the entire thing. But I lost flexibility on what we could do. And then also all of a sudden when I flipped that mindset and said. I'm comfortable with. Like, we got to do this and we lose blah, blah, blah. Like, that's I knew the risks coming into this. It is what it is. But I can still help people one way or another. I can monetize a million different ways if I needed to. And ever since then, it's like as soon as those opportunities come up, it's like, boom! Like I see it instead of missing it. Like there's an opportunity. That's an opportunity like that one helps us get to this North Star. And there's things that we're doing now that I never thought of a year and a half ago, like two years ago. And it's like, wow. Like the whole adjunct professor thing that you mentioned, like in the in the reading, I never thought I was going to be an adjunct professor at universities. And guess what I am like. So that was an opportunity and I saw it like that opportunity comes across two years ago. I probably wouldn't have seen it. It probably just floated right by me. Right. So yeah.

Brian Kelly:
I love it. Yeah. And we just had a gentleman. He's probably still watching Robert Silverman, who's on. I know him personally and he's another example of what you're talking about with the the attitude of serving others and helping others and making that in the forefront of your mind. He was our realtor for selling our home in California, and we went through some really hard times with this whole I won't go into the details, but this guy, Robert Silverman, he was there for us every step of the way. He took it to heart. He was passionate about it. He cared about it. He lost sleep over it. And I'm thinking, who does this anymore these days? Thank you. And so he will be a lifelong friend of ours because he treated it as a friendship more than a transaction, you know, more than a transaction between a business person and a client. I never felt like a client. Not once. I mean, this guy just went to the ends of the earth for us. And I'm forever grateful because we're now in our dream home in Florida. And that would not have happened had it not been for him, I guarantee it, I know it because of what we went through. It was like, wow. And so you are you are talking about that very attitude. And that's what I'm hearing as you speak about being more about serving and helping others, that's what drives you. That's your North Star and not concentrating on the fear of making the money. So very astute and very I love this, that it's all been focused so far on money because that's kind of your wheelhouse, right? That's your swim lane. And I think I know it comes up so easily and organically. I think this is a great time to actually go down the path and let people know exactly what it is you do, Joseph, so that they can get some sense of, hey, this guy actually knows what he's talking about. Everything he said so far, there's a reason he knows all this. He's in this industry. He's very, very astute at it. So if you wouldn't mind, I'd like to just pull up your website and then have folks look at it. But as I'm having it, gently scroll in the background, let people know who, what, what it is you do, who you serve, who is your target market. And then if you have a success story or two that you'd like to share, we'd love to hear that as well. Would that be.

Joseph Reinke:
Cool? Yeah. No, absolutely. And before diving too deep into exactly what we do, I'll give you guys some background about how we got here, because it hits on what you're talking about in terms of like focus and whatnot. Like earlier, um, I was very fortunate when I was in college to be around, you know, top athletes and baseball going, you know, first round. And I saw the dedication that they had to put into it. So like when I say like I'm a CFA charterholder and all that type of stuff, like when I saw what it took for them to go from college to being number one draft picks and in the big leagues as all stars. I saw the dedication that it took and I'm like, I'm going to learn so much about finance that no one's going to know more than me about any topic. Let it be mortgages, investments, whatever it was. That's why I ended up getting the CFA charter. And so I learned the industry inside it out from the consumer standpoint as well as the financial services standpoint. And I recognized a bunch of different holes, and I read a ton. So like you brought up reading, I learned that from Warren Buffett. Somebody asked him, what's so different? Like he reads everything he can get his hands on. And I was reading tank's. Tank's just constantly, which are just basically annual statements for companies. Everything about psychology, marketing, like whatever I could find. And I saw a bunch of these holes in the industry, um, especially in like financial planning. And when you think about this as a consumer, every time you want to do something financially, you have to go to a different person. So like if you're buying a house, you got to have a real estate agent and a mortgage broker. And then if you want to see how this fits into your financial plan, you got to go to a financial planner. But they don't know anything about debt. Then you got to worry about car debt, student loans, all these different things, and you're trying to mix and match all this stuff yourself. And that was one of the big problems I saw in the industry.

Joseph Reinke:
And with wealthy people. They have what's called a family office, where a point person does that and it does it. They coordinate everything for them. But that's not realistic for a lot of people because it's too, too expensive. And so the concept that we built out was to say, well, let's do that family office type of environment for everyday people. But the way we're going to make it cost efficient, efficient is to use AI. And so the first technology we rolled out was to be able to build financial plans for 20 to 40 year olds coming out of college. And what? Not in that age demographic to be able to say, hey, your typical financial planner, they got to charge you a ton of fees because it takes them 40 hours to collect your data, build out plans and all that type of stuff. But we can help you do this, and it takes us less than an hour because of the AI that we built on the back end. So that's what's out there right now, is that we're able to provide financial planning, technology and services to young individuals that instead of like three grand, you know, just to talk to somebody, it's only like 1899 a month because the AI is doing so much of the heavy lifting for us. And then we can do in like help you execute your plan. Let it be like tracking your plan and make sure you're doing it right. Asset management to do investments, refinancing. Like if you need to do that, we have refinance partners and basically trying to help you all in one place get level like a good service. So that way you don't have to stress about it. Like I said, that's the key thing. I don't want you having to stress and have that anxiety about money. You know, what you're doing is right, a simplified way of doing it. And that's, you know, that's what we're focused on right now. And over time, we're slowly rolling out more to consumers, more services and so on and so forth. But that's the core right now is making sure you're doing the right thing going forward, and that you can reduce your anxiety and stress because you know that you're doing the right thing and you don't have to wake up at 55 years old and be like, oh, shit.

Joseph Reinke:
Like, I thought I was doing the right thing, but I didn't. Right? Like, that's that's where I really got the idea from, really, is like in 08I saw people 55, 60, 65 years old. They had financial planners paying them, and then they woke up one morning like, oh, crap. Like I was doing something wrong. And that's when I started a lot of my research into why. And that's what we're trying to solve. Is that why and make it affordable to everybody.

Brian Kelly:
So you mentioned I just want to clarify for everyone else, I know the answer to this. But you said instead of paying three grand, they only spend 1899 a month to find 1899. What is that exactly?

Joseph Reinke:
So you come.

Brian Kelly:
On $199 or what is.

Joseph Reinke:
That. $18.99? Yeah. Can't believe it. Or annual is like $189 again because it's the use of technology on our end. A lot of the stuff that advisors have to do manually, we've automated. So that way you don't have we don't have to do it. And we can pass those savings on to you. Um, and then as a user, you just come on, you build your profile, we really tell you, hey, like, schedule a call so we can help you do this. That's the way the tech is built right now. And then you can actually implement the plan, link your accounts and everything under the profile. So it makes sure that you're doing everything correctly. And then anytime you have a question you can email us, call us. There's no extra charge to talk to us like it's just the $18.99 a month. And yeah, go from there.

Brian Kelly:
So what do you say to the young or or older that just exited college that says, well, that's another 1899 a month? I mean, what am I going to get in return for that? How am I going to be able to recoup that? Maybe you have a success story or two you'd like to share along those lines to help people mean to me, that's like, are you kidding? That's it, that's all. But to someone just graduating from college with all the other, they're trying to buy a house. And it's almost impossible these days and everything that's going on that could be substantial to them. So what do you I'm sure you've gone across this topic in the past at least a few times. What do you say to them.

Joseph Reinke:
By the way? You sound like our investors. Why don't we charge you more? Um, so there's two sides of this. One is the actual we call tangible financial like benefits and then intangible financial benefits. So on the tangible side, I'll give you guys a story. I'll give you a perfect example. I just worked with an individual who had graduated with a doctorate. Um, and she had student loans, and she also wanted to buy a house. And she came to us. And this was a weird, different situation for us because most of the time people come to us like, I have no idea what I'm doing, right. I just need help starting. I don't even know where to start at. And she came to us like, look, I think I'm going to do this with my student loans and I'm going to buy a house, and I want to just make sure I'm not making a major mistake. So I want to be able to build two different plans or three different plans and compare them. And so her idea was to go on these things called, um, an income driven repayment plan and then use the money to buy a house immediately. And I built out the simulation for her, and she would end up with about $2.4 million by the time she hit retirement, which was not bad. It's not might not be that great 30 years from now, but it should be okay. But and her first reaction was like, oh, well, that's good. This plan works. And I was like, well, let me show you something. And I showed her the details of what's going to happen when she's 60. And out of that 2.2, 2.3 million, only about $600,000 of it was liquid cash. The other part was all up in her house, and it was like, so you're going to have to liquidate this some fashion, just be prepared for that. And she's like, okay, you know? And I was like, let me show you something else. Well, the other part of her financial plan. Was that she had a $550 car payment also, which was astonishingly right now is about average for a car payment, by the way, I don't know if you know that, Brian.

Joseph Reinke:
Like, that's the average car payment right now. Crazy. And so I said to her, I said, look. Let me show you something instead of buying the house immediately. Like your rent's pretty cheap. Like, how about we focus on one thing at a time? So that's one of the big things. Like we don't just do the tangible, like numbers. I'm huge on getting people's mindset correct into how they think about money and how we structure our goals for them. Um, and so I said, look, let's pay off this car loan first. That's your goal. Over the next two years, that's going to free up $550. Then you buy the house, because then you can use that money to either pay off the mortgage faster, or that's $550 you can invest every year. Yeah. So instead, when I ran that simulation for her, instead of having $2.2 million at retirement, it came out to like 3.4 or $3.5 million. And a lot of that was in cash and tangible assets. And so it's like she's like, Holy cow, that's a huge difference. It's like, yes. And so that's the tangible side of the benefits. Now, on the other side of it, though, every day we hear this. I have peace of mind knowing that what I'm doing is a good plan and it reduces my anxiety and my stress around money. And that's that's why people keep, you know, the subscription. Like are our retention rates huge for a software company. And our investors are like, what's so great about the tech? It's like it's not necessarily the tech. It's the lack of like the reduced anxiety and the reduced stress that they know that they have someone working for them in their corner. Whenever they have a question or anything, they can come to us. And so those are the two primary benefits. Yeah, there's the tangible side. Like I said, I, I think personally we stress way too much about money. Um, and that if we can reduce that stress, your life is going to be a lot better. So that's the other intangible benefit of it.

Brian Kelly:
Yeah. Your life, your relationships. I mean, there's always strains like with newlyweds because they're so financially strapped and they're trying to start a life together and then that can tear people apart. I mean, it's it's great to, to be able to run across someone like you and what you offer, especially for now that they're coming out of college, the young ones, they're starting it off in a great way. We got a question from my buddy Robert. Oh, first he said, thanks, Brian. So happy it all worked out. We are too, brother. Oh man, we are living. I mean, I was talking to Joseph here just a little while ago. I'm looking out over the channel. It's a the ocean. We're on the Gulf in Florida. It's freaking it's Paradise. So thank you to Robert for helping us to make that dream come true. He has a question for you. He said, can you explain what the Fitbug score is? I have a feeling he went to your website.

Joseph Reinke:
Yeah, it's an algorithm that I created. So when I was in wealth management, from the consumer standpoint, I'll tell you how we use it. And then also from the internal standpoint, when you're a consumer or a user of financial services. It's like, okay, if I build you out a financial plan like your typical PDF is like 13 pages and it's just numbers and graphs and all this stuff everywhere, right? With a bunch of terms people don't know. And then if you say, hey, change this one little thing as a financial planner, it takes me like ten hours to redo the whole thing. And now you got, you know, 26 pages of PDFs that you're flipping through, trying to compare, and you have no idea what's going on. And so what we did was I built out an algorithm that collects all that data, and then it combines it into one data point, which is the box score. And so when you build out the financial plan, in order to quickly compare plans, you can simply just look at the score and see what happens over time. And then we can explain that to you too. Like if your score drops why does it drop? If it drops, that's okay. So like Robert, I know you're in real estate. So one of the big eyes that we've been developing is how much can you actually afford in a house? Not what you qualify for, but what you can afford. Okay. So when the score drops, what does that mean? Okay, I'll still be okay or. No no, no no. Like you're going to be going, you know, paycheck to paycheck, which is a major issue that younger individuals are getting into right now with buying houses. Um, they just they think they can afford it and they can't, but they qualify for a loan, so they buy a house. Right. And so we that at a young age, that's what the score is. Now on the other side of that, one of the big things that we're tying into that score is what we call human capital analytics, which is basically behavior. And it's a projection of your income. But the risk to your income is in factored in there.

Joseph Reinke:
So when we talk about risk to somebody's income that dictates how much mortgage we can have, how much life insurance you need, do you need disability insurance. How should you repay your student loans? How should you have your assets done? It incorporates all that and that goes into the fitbug score as well. So on the back end when we're looking at our AI, we're able to use that to factor into various probabilities of hey, look, even though this plan might be the most efficient thing ever. Probability says you're not going to do it like because of your past behaviors. So one, is there another plan that we can follow that has a higher likelihood? But then what else can we do within there to help you modify some of those behaviors? Like I talked about Dave Ramsey all the time. Right. Like he's like cut all your expenses like all at once. That's a lifestyle change. Most people aren't going to do that. So is there something that we can do to say, hey, do this one thing at a time. Just focus on that, because you're more likely to do that if you do that one thing than you do the next one, the next one, the next one. So all that data goes into the Fitbug score, and that's how we use it on our on our backend side. And so that's for the younger generation. That's what we're really looking at. And then how we can compare plans very quickly for them. And then once somebody hits retirement, it's basically a probability metric of them being able to retire and not run out of money. And so it shifts over time from like behavior and human capital and, and looking at plans and comparing it over time. And then once you get older, it's like, are you going to actually be able to retire or not? And I did that because again, going back to those 55 and 60 year olds back when I started in zero eight. They thought they were doing good. So like in the football score terms, their score would be going up and then all of a sudden they hit 55. It plateaus and tanks because there is stuff that they weren't doing correctly and they had no idea.

Joseph Reinke:
So now we can see that with something that's 25 or 30. Hey, if you follow this plan, you know, like you brought up earlier, like stories. I mean, I had someone that went to a financial planner. They told them, hey, you can afford like a $650,000 house, go on this student loan repayment plan. And he's like, oh, fantastic. And he brought it to us. I put it in the software to simulate it. Same thing happens. He gets to around 47, 48 years old. Everything thinks he's good. And then, uh oh, like, I still have a ton of debt. I don't have enough money for savings. I'm going to have kids like, I can't even pay this off. And you just see the score tank. And it's like, yeah, we could change that. Boom. Just like that, instead of having to worry about it. So no long winded answer about the football score. There's a lot that goes into it. Um, it's our bread and butter on the back end side in terms of the algorithm. But yeah, there's a lot that goes into it.

Brian Kelly:
And he has a great follow on question. And I'll bring that up in just a second. And I will attest to the peace of mind and the lack of anxiety that comes from having someone in your corner. I have a fiduciary. This is long before we met you, Joseph. I was like, gosh, where have you been? And he's amazing. His name is Larry Zuckerman. And I'll tell you, I mean, it wasn't long after he started managing our finances where I was just like, I feel so free. I feel so no weight on my shoulders. I don't have to worry hardly about a thing. And you know, when you out there are listening and watching, you have an opportunity to have that kind of feeling that that creates incredible, great emotions inside of you and good emotions creates great health and that can lead to great wealth and happiness in general. So 1899 a month. Are you freaking kidding me? That is worth so. I mean, just from being able to attest to how it feels to have that peace of mind. 1899 a month is nothing for what Joseph is offering. That's really what he's offering, if you think about it, is peace of mind. And then you can, you know, reel it back. But it is so important to have somebody that knows what they're talking about and knows financial, the financial world and outlook and everything you mentioned with insurance and houses and and kids and families was like, oh, it's too much for any one person to bear. Why not let Joseph and his company take care of it? And so with that, I want to go into the next question that Robert was talking about, and I'm actually curious about it too. So I'm actually going to put this one up too. He's asking more. He's on it. All right. He said. So the customer he's asking, so does the customer have to fill out a questionnaire for the AI to generate the score? How does that.

Joseph Reinke:
Work? Yeah, it's about a 4 to 5 minute questionnaire, the one that we have live right now. It's a little bit more cumbersome. We're in the process of of updating all the UI UX on it right now. Um, but it's about you can do like high level information on it. It's about probably about five minutes. Some people, they really want to get granular with it. So they like really get into it. And it's like ten minutes. But you don't need to to generate the score. You can have estimates on there and whatnot. But we ask a lot of other questions besides personal finance questions because we have data on different things. Like I said, we're looking at behavior, especially the younger you are. So we ask things like, do you run marathons? Did you play sports? Like we have data that that backs that stuff up in terms of behavior. And we ask a lot of other questions that your typical like financial planners not going to ask. Right. So that's that's the question here. But yeah, in order to generate the score we need that data because that's what's feeding into it.

Brian Kelly:
It takes a whole five minutes. Huh. That's like just too long, man. 1899 a month and five minutes to get started. Good God.

Joseph Reinke:
And your dashboard schedule call. Are you ready to go?

Brian Kelly:
He did say thanks for that and appreciate that. He said in addition to his real estate, he actually has a family office that he trades for. So he can say that 1899 is a phenomenal deal. Yeah, it's it's like the biggest no brainer in the world right now. Um, and you're hearing it right here on the Mindbody Business show. Don't forget that everybody. Yeah. And this is see, these are things I didn't know existed. And I never would know unless I had someone like you reached out to me, I think. Was it LinkedIn?

Joseph Reinke:
Yeah, I think so.

Brian Kelly:
I have a I have a VA that does outreach. And she probably hit you first with something that we were promoting, which I have a master class for how to do these live video shows, a whole, whole different topic. But you came on and basically asked, how can you be on the show? And I rarely bring on guests that way. Rarely there was something about you. And then you mentioned, I think you mentioned at one point the Cal State Long Beach or I saw it on your profile, I can't remember which. And I thought, yeah, there's something, there's something pulling me toward him. I got to pull him onto the show because we're booked through February of next year. It's now what is it, November Yeah of.

Joseph Reinke:
Yeah, well, I'm pretty sure I reached. Out because, again, I'm huge on the mindset stuff. And and I've even been requested to host like an entire conference here in Austin, Texas, about just the mindset aspect of business. Like like do like a 1 or 2 day workshop because I love that side of it. Because. I've seen it and I didn't really know what it meant. You know, when I was probably like 18 years old, I had somebody in Silicon Valley that was like, you know, I won't invest in anybody in a startup that the founder is less than 40 years old. And I asked him why. And he's like, because of the mindset and the experience in my research, that's about the average age that people actually hit that in order to be successful. And that's if you actually look at statistics within startups, that's the average age for the a startup to be successful. And I never really understood what he meant. Obviously there's you could be 20, 30 years old, whatever it is. But until that story I told you about Covid, it really hit me hard. It was like, oh, like. I get it now. Like you have to go through that experience and being able to be like, yeah, I can face those fears and get over it and have that mindset constantly, every day. Um, and it's hard. So yeah, I'm glad that I reached out.

Brian Kelly:
Yeah. Me too, I truly am. This has been wonderful. I've been enjoying the heck out of it, especially before the show. Getting to know you. And you know, a lot of people will talk or think about somebody in the financial world and think they're just this straight laced, you know, with the little bow tie. And they don't have a personality of any kind. But you're different. You have one. You have a personality. I'm a former software engineer, and I remember vividly back way back when a manager, a new manager got moved into a different area and he said he's a he was funnier than heck all the time. He's like, hey, what's wrong with you? And I was sitting down. He was standing. I was like, what do you mean? And he was doing with a, you know, a kind of a smirk. He goes, you're a software engineer, but you're normal.

Joseph Reinke:
You have a personality.

Brian Kelly:
Yeah. That's what he was saying was like, well, I said, thank you.

Joseph Reinke:
I was joking. With one of our engineers, like two weeks ago. He was like, he was newer. And he's like, who's our target? I was like everyone but engineers. And he was like, why? I'm like, because he got. A. Degree of every detail, of every detail of every detail and and wealth management. I used to say, you guys are the worst clients because it's like, just do the stuff yourself. Like, by the time I'm done teaching you. You're. Going to be able to do it yourself. So why do you need me? Like, yeah, they're in the.

Brian Kelly:
Background developing that spreadsheet as you're teaching them. And yeah. And I you know, I come from that but somehow escaped being that that into the analytics. I actually don't even care for analytics or number crunching or any of that stuff. I love the creation process. I thought I loved it and I did. I liked math when I first started, but it wasn't my true calling. So I've ventured far enough away from that father and I just hire people, other people like you in a fiduciary and other people that have that desire to go through. And you've done it masterfully by bringing in AI. And I want to talk a little bit about that real quick. My gosh, the time is slipping away. Ai is becoming it's everywhere now. You cannot escape it. It's exciting. It's a little bit scary. It's a big unknown for many people and I've seen several businesses now, yours being one of them, successfully implement it to get greater results and reduce costs. So for you, if you can explain it without giving away your secrets, so to speak, what what brought you to to use the AI? How are you using it? I guess is where I'm curious is how are you using it to save so much time in the process of putting together a financial plans?

Joseph Reinke:
Yeah, the so the first thing is first, with AI, there's a lot of different types of AI. And so a lot of people, it's now this buzzword in the industry because of generative AI is a type of it because of ChatGPT. And that's like what people think of when they think of AI. But there's a lot of different versions of it. Okay. That's first and foremost. Second of all, again, it's a buzzword that people are throwing out there a lot from a business standpoint because they think it attracts people. When you actually dig through what they have, they don't have AI. Like I always joke around, it's like, yeah, what's your algorithm? It's like two plus two equals four. It's like, oh, great, that's just math. That's not I. Um, right. So a lot of people are using it and a lot of people don't actually have it or are actually using it. So from a business standpoint with the financial planning component, it's being able to very quickly customize and factor in different things that we as people, we just don't have the computing power to do it. So it's a matter and I can't give away too much because there's trade secrets, but it's it's a matter of being able to take these things and replicate the human mind, but do it so quickly and have it so precise that it's better than anything. My buddy, when I first told him the concept of the company, like ten years ago when I was building out algorithms and stuff. He was like, basically, you're trying to put your brain into a computer and put it in a hyperdrive. I was like, yes, that's essentially exactly what I'm doing. So that's how we're using it from the planning standpoint. And then on the newer stuff, a lot of it's out there from a business standpoint. It's like with the marketing stuff. I mean, it trims down. People are like, how do you get so much content out? I'm like, I. It helps dramatically. One of the companies even so, I had something like 100 posts out for like for blogs and stuff. One of the companies that we signed up with to help write content content.

Joseph Reinke:
They noticed that I was doing a bunch of financial stuff, and they came to me and like, we don't have that much financial stuff. You know, we normally charge like $10,000 for people to, to, you know, for us to scan all their stuff in and actually create a voice for them. If you allow us to scrape your content and use some of it in our AI, like, we'll create that tone for you, like for free. And I was like, I don't care, go for it. And so we use that now and it's my exact tone. So like, you know, how they have like Joe Rogan and Hulk Hogan and blah blah blah. It's like there's one for Joseph Rank, like, you know, and I get to use it. I'm the only one that gets to use it. And so and it's, it's good. Like I'm like, wow, that my wife's always like you like you write too conversationally. I'm like, that's not me. That's the AI. She's like. And so that's. How we use it on the marketing side. But on the. Financial side and like what we've created is more, you know, algorithmic to be able to do things so fast that, again, people can't do and, you know, don't like picking on financial planners. But at the end of the day, it's hard to know all these different things that factor into everything from like mortgages to, you know, student loans and investments. And, you know, like I said, I spent hours upon hours doing that stuff. I mean, I worked in the mortgage industry, like, I've worked on the banking industry, I've worked in investment banking. Like, you know, I'm piecing it all together, so but hey, this is coming. It's, uh. It's interesting.

Brian Kelly:
I got quite a giggle out of that when you said your wife said that's too conversational. Well, that wasn't me. That was my I. I'm thinking, you know, next time, next time. She says, hey, did you leave the toilet seat up again? I'd say, oh, no, that was my I robot.

Joseph Reinke:
Sorry. I'm thinking, wow, I could.

Brian Kelly:
Leverage this one. I know it won't go very far, but we can have some fun. I like to have fun, all.

Joseph Reinke:
That kind of stuff. Like I just did one for an avatar for myself. Or, like, we don't even have to be. I don't have to shoot videos anymore. I can just type the script and it's literally me talking. Yeah, I've seen those.

Brian Kelly:
Yeah. It's amazing. I just ran my voice through one and then typed a phrase and it said it in my voice. It kind of freaked me out. It was like it was slightly different, you can tell. But it's getting there, getting better and better and better, you know? And yeah, a lot of people are putting up videos of themselves that's completely 100% generated after they I'm sure they took different poses and pictures of their face and it put it all together. But yeah, it's it's pretty amazing what can be done. And here's the thing with businesses out there that, you know, if an individual is saying this is too much for me too fast and I'm afraid of it, then I would warn that you may not make it very long if you have a if you're in a space that has competition. So whoever embraces the newer technology the quickest are the ones that typically survive. And this is one of those. This is a game changing type of technology in many different. Like you said, there are many different viewpoints or versions of AI, different variations of it. But yeah, it's it's first you need to I would recommend embrace it, learn about it. I would go into ChatGPT and take it for a spin. Oh my God blew my mind all that stuff. I had it write a book for me, I cannot, I kid you not. And it started with just a table of contents basically. And I said, okay, you're just going to give me a table of contents. All right. Write the first chapter. And it literally took that first table of contents entry and wrote a chapter. And I just kept telling it to do it over and over. Write the next one, write the next one. I need to tell them which one to point to. It knew I was like, Holy crap.

Joseph Reinke:
And then, yeah, you don't. Need a ghostwriter anymore. Right? Basically have that. Yep.

Brian Kelly:
And then there's sections inside of the chapter that said, well, expand on that. And it would I'm like, okay, I can just copy paste in and make it into I did I'm not going to use it to write a book. It gives me ideas and cautioned people about copy and pasting it verbatim, because there are also services out there that detect if the content was AI generated and they will spank you for it, give you, you know, lower your algorithm of views and stuff on, on social media, all that good stuff. But anyway, it's a great tool. Use it for idea generation and so many other things like you've been mentioning. Joseph, I'm talking really fast because I see that our time. Slipping away, and it's driving me nuts because I'm enjoying this and I want to talk. So let's just extend it one more hour. Are you cool with that?

Joseph Reinke:
I'm around. No. I'm back. I've been traveling for two months, so I'm back at home. Love it. I'm relaxing, so I got all the time you need. I love it, I love it. Do one of those Joe Rogan. Three hour. Podcasts.

Brian Kelly:
No kidding. Well, the hour is just for the ad spots in the beginning.

Joseph Reinke:
Yeah.

Brian Kelly:
It's like, wow, listen to that first podcast. I'm like, oh my God, he's still doing ads. And it's like 20 minutes in. But he can and that's why he's anyway it more power to him. And those are those are things you know you want to look and learn from other people but also recognize where you fit in that space. If you're not a Joe Rogan, you're not going to get away with doing 20 minutes of ads. No one's going to stick around long enough. You got to build it first. But to know that that is an option down the road, it's just so fascinating to me to watch a journey of anyone. Oh my goodness. Speaking of journeys, so you have a give away a gift. Oh, you won't believe this everyone. 1899 a month. And you can get it cheaper than that. Stick around. We'll tell you how to do that in just a few minutes. And you might have noticed a scrolling ticker on the bottom there. Where? Yes, on this show, we give away every single show a five night stay at a five star luxury resort. And they are all compliments of Reach Your Peak. That's my company used to be sponsored by another company. We stepped in, and it's not one of those crazy things where. And these are worldwide. You get to choose the resort, and it's not one of those things where you get there, and then they lead you down into the basement, strap you to a chair, put water drip on your forehead, and then pitch you on a timeshare. No, that's not what it is. Instead, it's a bona fide vacation stay. All you do is pay the resort fees. You pay your travel to and from. The rest is covered. Your whole stay is covered. All you have to do is enter to win. We're going to be doing that here in just a couple of minutes, so don't go anywhere. I used to open the show with that so people would hang on to the end, but we've got people hanging throughout. And thanks to Robert for helping with the flow of the show.

Brian Kelly:
Thank you Robert, I love I love it when we get folks that come in and ask questions. They're always different than what I would ask. Just like bringing on teammates on a on a for your company, they will bring up and have different viewpoints than you would, and oftentimes they are the right one or better one. And so thank you for participating, especially Robert on that. And he's a friend of mine. So even if he wasn't I still say thanks. Oh so your your business your website, it's fitbit.com. And for those of you listening only, I want to be clear on that. It's the spelling. It's f I t b u x.com fit bucks.com when I first saw this Joseph I'm kid you not. I thought it had something to do with the fitness industry. Yeah and it is. It's fitness for your finances but it's not physical fitness so it's pretty cool. Yes. Thank you Robert saying you're welcome. Yes. He's a wonderful man and so fit bucks fit book.com. That's where you go. And we're going to show you how you can get his services for even less than 18.99 a month. Unbelievable. If you stretch it out for an annual fee. So it's going to be. Awesome. It's just a couple of minutes away. So there's another thing I want to tell you, Joseph. We're we're near the end, as you can tell of this show. And what I like to do is ask a particular question of each of my guests. This started happening many years. Well, several years ago when I first started the show, I was asking this one question on occasion, not every show, and it started coming to the forefront of my mind because I started realizing that these answers, holy smokes, they are profound and they are amazing. And so I said, you know what a great thing it would be. I'll just start closing every show with that question, because it is a great way to end with a bang. And so I'll be doing that with you and it's going to be fun. Before we do that, now is the time we're going to do the promise of first the vacation stay giveaway, and then we're going to go to the remarkable gift that Joseph has for you.

Brian Kelly:
So stick with us. And so what I want you to do is, like I said in the onset, I'm going to give you a URL, a website, write it down. You don't have to enter right now. You do not want to leave. I am not kidding you. You do not want to leave. You want to hear Joseph's answer? So before you do anything, write this down. So I'm going to put it up on the screen for those of you that you must be watching live to enter to win, it is the URL is repeated forward slash vacation all lowercase. So R.I.P. that stands for Reach Your peak. I am have no idea what that stands for. Forward slash vacation. Just wanted a short link. So write that down and right after the show is over, go ahead and enter to win. Wait until the show's over, please. Because. The great Joseph Rink has a phenomenal gift for you. I'm going to put up a little hint on the screen, and I'll let you let them know how they can go about getting that gift. That sound good, Joseph?

Joseph Reinke:
Yeah, absolutely. For all the. Show listeners, you get 25% off of the Price fit box. You can just go to fit Box.com. Fit Box.com. And then just click join. Now it's going to ask you just for like your name password information. And then it will have a screen to enter in like your credit card details on that screen there's a thing that asks for the promotion code. Just put in 23 and it will drop the price and you're good to go.

Brian Kelly:
I can't believe it. I mean, it's already next to nothing. And he's giving you even more next to nothing. And all you have to do is put in nbl23. I'm curious what the 23 is that's got me going. I know what the MVP is and I appreciate that. Mind body business 23 that's the age you think I am.

Joseph Reinke:
I guess that it is. It it has nothing to do with what you're in. It's all about your age. Love it.

Brian Kelly:
Oh, so is this a limited time coupon?

Joseph Reinke:
We will make it limited time. I didn't put a limited thing on there. You know, obviously, the sooner the better. But we do put an automatic stop on there after 3 to 6 months just because it ends up getting everywhere. And obviously we want it to be for the show. Listeners, if you do happen to watch this episode or listen to this after it goes off, shoot us an email like, well, we'll figure out something because I still want to, you know, reward people for listening. So but yeah, so there is a limited time, but we can work with you.

Brian Kelly:
What is up with that? That that screen loves to come up all the time. So yeah. Thank you so much for that. My gosh. And the fact that you would even offer it above and beyond any, you know, several months. That's just phenomenal. Appreciate that. So we'll have to change the code to be 24 pretty soon I guess.

Joseph Reinke:
Yeah.

Brian Kelly:
Because I'll be 24 in a year. Right. There you.

Joseph Reinke:
Go.

Brian Kelly:
Oh my goodness. So all right. We are at that time. It is the time of bringing up. That final wonderful, amazing question to close out the show. So here's the beautiful thing about it. There's a couple beautiful things about it, Joseph. Number one is there is no such thing as a wrong answer. It's not a test. It's not a quiz. And the cool thing is, the other part is the only correct answer is yours, because it's going to be unique to you. It always is. I've been doing this for a long time and the answers are just amazing. Yours will not fall short of it. I will also let you know. Don't forget to do this at a time. With your permission, after sometime down the road, I would like to take your answer and add it to a book. A collaborative book that will go amongst with all the other guest experts. You'll understand why after you hear the question. So I say that so that. You can think of. If you can think of embellishing a little bit more than a few words, if your answer is just a few words, then I'm done. It's like, well, you're going to have one page in the book. It's not going to be very big, so feel free to embellish, is what I'm trying to say. You don't have to. You don't have to. Your answer is your answer is unique to you. And that's fine. But just wanted to throw that out there just to make sure. So with all that build up in suspense, are you ready?

Joseph Reinke:
I'm ready. A little nervous now, but am ready. I love.

Brian Kelly:
It. Nothing to be nervous about and you'll know why in a moment. All right. Here we go. Joseph rank. How do you. Define. Success.

Joseph Reinke:
That is an awesome question. Um. From. An outsider's point of view. Whenever we always talk about is like money, right? Like, oh, great, I'm worth a lot of money, whatever. That must be successful. Um. I don't look at it at all that way. I mentioned earlier, like every day I find something successful, even if it's like one view on a YouTube video. Like, I always that that's success to me. So I define success strictly as to me proceeding to that North Star every day. And I do it more than just for my business, okay, I do it for health. Um, like, am I going to where I want that North Star to be for my health, for my family life? I have a North Star for that. Like so there's 4 or 5 pieces of my life where I have different North stars for those things. And every day, as long as I'm going towards each one of those, it was successful. And the the big learning lesson I found on that was I was actually living in Santa Monica, and there was a homeless guy that used to go to like this restaurant or fast food place. He was always sitting outside and he was like the happiest homeless person I've ever met in my life, always smiling, talking to everybody, joking around. And I talk to him a few times, and after about 3 or 4 months of talking to him, I finally said to him, I said, you know, most homeless people, they're very like, down. They don't talk. They're very to themselves. Like, why? Like you're really outgoing, like you're really positive and blah, blah blah. You know, what's what's your story? And he was like, oh, I've only been homeless for a few months. And I was like, well, what happened before? He's like, I was actually a millionaire and I lost it all. And I'm like. That doesn't make you upset. And he was like, no, like, because I understand positivity and I'll figure out a way to get back there. And it's just a matter of figuring out what I need to do. What type of opportunities come across, and eventually I'll get back there.

Joseph Reinke:
It was like, Holy cow. Like. Like that success. Like he doesn't care as long as he's going towards whatever that he he strives to be his North Star. Like, like as long as he's progressing towards that, it didn't matter if he was worth $1 million or if he had lost it all. He felt like, hey, I'm progressing towards what I'm supposed to be doing one day. And so that's where I come up with that definition of success is. If I'm doing one thing a day, as it doesn't matter how small it is, it could be the smallest thing ever. But if I'm doing that one thing and I have that positive mindset towards it, then it was a successful day. And every day is a successful day and you keep going towards that and eventually you have a successful week, a successful month, a successful year. And that's what I meant earlier when I said the score takes care of itself. You keep building those successes. The monetary side of it comes. It has to, at the end of the day, because you're building upon building, upon building. So that is my my definition of success. I love the question because, you know, I think about that all the time, too, because it's like, well, you know, the outside world, all they think about success is, you know, houses and money and all that type of stuff. But it's like. You know, at the end of the day, you can have $1 million or $100 million. Does that mean you're a more success? Yeah. So I like I like the mental side of the success better than the the tangible side. Mhm.

Brian Kelly:
And, as promised, supremely powerful and amazing. And I knew it would be. Especially from you. You're a special individual, Joseph. I appreciate you for not just coming onto the show, but for your approach to life and helping others to notice that being successful doesn't necessarily have to be a statement of your bank account. And oftentimes you'll find people that are wealthy, that are the unhappiest people in the world because of various reasons. So thank you for that definition of success. It was the greatest thing about this is I have yet to find two people that answer that the same way. And that's why it's so profound. And it's very, very subjective. It's per person. Everyone has their and what you define today as success go fast forward ten years. It may be a completely different definition by then, or go back ten years and it may be more money centric. Right. And it's just that's what's so intriguing to me about that question. And I appreciate you filling an entire like three chapters for our book. That was phenomenal. Good job on that. That was great. And I'm not kidding. That was phenomenal I appreciate that. So do you have any last parting words of advice for those that are, you know, especially the people you are looking toward bringing into your foray and that is those just exiting college, getting started in their careers, if you will, or their financial lives. What kind of advice would you have to them just starting out in their lives?

Joseph Reinke:
Yeah, if you don't get the right mindset around your finances, especially nowadays with new grads, with the whole student loan thing that's happening and all that stuff, the stress and anxiety, I hear it every day. I'm burnt out and it won't matter. And I see it all the time. I hear somebody, I went from being in this profession, and this other profession is giving me ten grand more. So I switched and they're all excited because they get this little quick hit of money and blah, blah, blah. And then within 6 to 12 months, they're burnt out again because the underlying stress that they're having from money, they just don't understand anything about it or they don't have a plan. They don't understand how to even go about it. You're never going to get out of that. That rat race. And Brian, you mentioned it earlier, I know people that are worth 4 or $5 million and they're so stressed out of their freaking minds about money. That's not financial freedom either. They're miserable. They've had heart attacks. They've had surgery. It's like, holy cow. Like. And so you're young, you're 20 years old. You're 30 years old. Get that out of your off your plate and get that anxiety and that stress down. And you're going to be a lot happier in your profession and everything else in your life.

Brian Kelly:
Great advice. Thank you for that. Everyone. Be sure to go to fitbug. That's Fitbit.com. Click on one of the several buttons on there to get started and enter 23 is your coupon code to get 25% off of already ridiculously low rate as of today's recording of 1899 a month equivalent. So get your financial house in order and you can see and tell by Joseph. He is very approachable. And would that be the best way for them to get in touch with you, or do you have an ulterior way?

Joseph Reinke:
Yeah, that's one of the best ways. You know, we're on Instagram too. Bucks official. You can DM us. We're on Facebook as well. Again DMs. There we have the Bucks Finance Group. Those are the two ways I get DMs from those all all day long. Um, and then of course we have our YouTube channel. Like we are going to be putting out more and more content on the behavioral aspect of things like the mindset side of the financial planning piece, too, because we're trying to mirror the tech, which is the tangible piece with the mindset piece. Um, so yeah, keep an eye out for that too.

Brian Kelly:
Very, very smart, very intelligent and very successful and appreciate you for sharing all of your strategies and success stories with us here today. It's been phenomenal. Please keep me posted on how everything goes long after this show is over. Yeah, stay in touch with my guests that have. Come on. That is it for us. Ladies and gentlemen, on behalf of the amazing Joseph Rinky, I am your host, Brian Kelly of the Mind Body Business Show. Until next time, which will be just a week from today. I want everyone to please do these two things just to request. Number one is go out and serve more people and crush it in your business so you can serve even more people. And number two, please, above all else, be blessed everyone. That's it for us. Take care. Have a great evening. Bye bye for now. Thank you for tuning in to the Mind Body Business Show podcast at the Mind Body Business Show. My name is Brian Kelly.

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Joseph Reinke

He is a Chartered Financial Analyst (CFA) and founder of FitBUX which has helped young professionals manage $2.6 billion in assets and debts on their journey to financial freedom. Joseph has been personally investing since he was 12 years old. In addition, he has experience in student loans, mortgages, wealth management, investment banking, valuation, stock trading, and option trading. He has been on 100s of podcast and has been invited to 100s of universities to discuss financial planning with their soon to be graduates. He now serves as an adjunct professor for 6 universities teaching financial wellness curriculum.

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