Ep 4 - The Benefits of Treating Your Family Like A Business To Achieve Your Ideal Outcome in Life

Hey, everybody. Flip and Danny here, founders of the Freedom Real estate group family of companies. And we'd like to welcome you to our podcast.

Our podcast is called Freedom through passive Income.

That's right. And today's is another one of our episodes. So welcome to this episode. And this episode is entitled running your.

Family like a business. And that may be a little controversial for some people, might be even be unpopular. And do not give us a thumbs down or an angry face because we won't like you. But it is something that was talked about in a recent Mastermind. Now, many of you who know us, we do not have kids. And so listening to this perspective from somebody else who's been down the road and he's lived a long life and he's got great kids, he's very, very successful. He was the one that really kind of brought this home and we understood it by, you know, everything that he shared. And there was. We actually met this gentleman, his name's Dave Stack. And we met him quite a few years ago, right?

It was about 12 years ago. We met him in Austin, Texas, and we went out to dinner with him and some other people and we actually happened to be sitting right next to him and so we talked the entire night. And he had said something that night that it was so it just caught me off guard. I immediately wrote it down on my phone and I still have it on my phone today. And he talked to us, he said, you know what, there's three kinds of money. There's ungodly, obscene and embarrassing. I think he has all three.

He does. And that's not a horrible thing. Again, this is why this might be an unpopular episode, is because a lot of people don't think that people should achieve the kind of wealth that people like him have achieved. We have a completely and totally different mindset in that. And the more that we have, the more we're able to give back. And that's why we've been, we, you know, rode ourselves so hard like on this road. We're, you know, we're not only going to take care of ourselves, we're going to take care of the people that were on the ride with us and everybody that we can be on that building from our foundation that we're creating so we can give, give, give. If I can give back a million dollars, if I can give back a billion dollars, I'm going to do it to help the world. I can't do that if I don't have it. So I'm going to just keep on Working hard and that's why we didn't retire. So running your family like a business. There's a few things that he pointed out in the mastermind that I'm just going to share here with you. And really it's. It started with the ideal outco you want. And he wanted financial success. Never have a worry in the world about money and teaching his children how to make money and how to be financially free, essentially. So what is the ideal outcome for you? I think it's. You have to answer that. I don't know. If you're like us and you're just married and no kids and you just want to take care of your fur babies, have fun and be able to give back, or you have kids and so then it becomes a generational thing, right? We talk about this a lot whenever we're talking about kids, about how the parents will raise the kids and if they do something different than their parents did, then their kids do something different. And part of this is financial education. I think there's probably so many people I can't even. I'm not gonna give a stat. Cause I don't know what it is that say I was not educated on how to use money, save money, keep money. There's so many different skills, mostly make and keep. You know, a lot of people don't know how to do one and a lot of people who can do one don't know how to keep it after they make it. So there's, there's situations like this where if you're a parent, then you're going to want to, you know, teach your kids how to do it and they're going to watch you as an example. So what do you want your kids to be learning from you? And then more important than all of that, I think, is stuff or time. So you as a parent, do you think it's cool to have a whole bunch of stuff and get your kids a whole bunch of stuff, or is it more important to be going to all of their games or taking them on a cool trip to Disney World or a culture type thing where you're out of the country? So I, and you know, all of our friends would probably say time, right? They want more time with their family, want more time with their kids. They hate being at the office. I saw somebody today going, I'm going to another mastermind. And I'm so excited, but I hate leaving my family, you know, So I think that that's like the biggest thing. And just understanding the mindset of money is a Tool, Right. It is nothing more than a tool. It's a tool to do whatever it is that you want to do with it. So for those of you who might think that this is unpopular, what do you want to do with your money? You know, you answer that question because it's going to give you time, freedom, it's going to give you financial freed. And once you have that and you've taken care of yourself, what do you want to do with it? Suddenly money doesn't become evil anymore. Because if you want to give back and you don't like that people are making money and you don't feel like they're giving back, well, then make all the money you want to make and give it back yourself. Because I think that's what it's all about, right? It's about you and your perspective and what you're doing with it. So I know that you have something to say here too, because we always joke about it when we're on a plane.

Yeah, yeah, yeah. It's like what she said about taking care of yourself first. And you hear it every time you get on a plane. You sit down and they go through the whole spiel that they go through at the beginning of every flight. And they always say, if the oxygen masks fall from the ceiling, make sure to put yours on first before helping others. So again, always think of yourself first.

That's a life saving example on the plane. But it's like a real life saving example, right? When it comes to money and finances and teaching your kids and having the ability to give back. That's right. That's what, man, that's what you and I are. So I get so, like jazzed about things like this because I just, you know, hey, if we don't have it, we can't give it.

That's right.

And do you know how many organizations that we want to give back to? It's a long, long list. So I'm just going to keep on going.

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