Welcome! If you’re new to the channel, my name is Matt Jimenez, and I have worked with the greatest minds in finance over the last several years. Today, I have one of the greatest minds that I’ve worked with for quite a long time on the channel to discuss a couple of things for you guys. I’m just going to do a brief intro on him real quick because I feel like a lot of podcasts and interviews often spend most of the time interviewing the person rather than getting to the point.
So, this is Heresy Financial, Joseph Brown with Heresy Financial, that is. He runs a massive YouTube channel that is arguably one of the most entertaining and digestible pieces of content that come out weekly on finance. So, if you haven’t checked him out, I highly advise that. He also has an amazing course on finance if you want to get on par with all the literacy that comes out revolving around it. Without further ado, welcome Joe! Hey, thank you for having me. That’s high praise. I hope to live up to it. Well, let’s keep this short, sweet, and simple because we know how interviews do on YouTube. I really just want to go over three main things. The three main things are the evolution of someone’s entrepreneur process. So when you start out, you’re typically most of the time at a dead-end job, and you have dreams and aspirations to get out of that dead-end job. Then maybe those dreams come to fruition, and you start making a little bit of money, but you don’t know how to steward that money. So, I want to talk about the stewardship of that money. And then ultimately, once you’ve stewarded the money correctly, you want to know how to have the longevity of the money. So, I want to go through those three stages, and this is something I want to do quite in uniform with a lot of people that I feel have a certain representation or financial success of what people would love to emulate. And I believe you’re one of those people.
So, the first question that I want to pose to you is if you were working at a dead-end job, hourly wage, let’s say, what would you be doing in order to get yourself out of that position? Yeah, yeah, that’s a great question. So, there are two ways that I would approach this. So, number one, have you heard of the region beta paradox? I have not, but it sounds interesting. Okay, so it basically says if you’re in a situation where one is worse than the other, the worst situation might result in a better outcome because it prompts a different course of action. The typical example that’s given is if you’re one mile away from something, you might choose to walk there because you’re close enough to walk, and that might take you, I don’t know, depending on how fast you walk, 20, 30 minutes. But if you’re two miles away from something, it’s like that’s too far to walk, and so most likely you’re going to drive, and you’re going to get there in like 45 seconds. So, objectively worse situations can result in better outcomes simply because you are taking a different course of action that gets you to where you want to be faster.
I would say that looking at that from the standpoint of jobs like a dead-end job, the situation that I was in, I was in a job that nobody would say is a dead-end job. I was making about 250 a year, stockbroker. It was in the position that I was in was kind of a highly coveted position in the company. I was miserable. I hated it. I was doing 200 cold calls a day, and it was just very monotonous work, very transactional, and I didn’t enjoy it. Every day that I woke up, I felt, you know, I…
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