Tax on Your Life

What’s up, everybody? Hey, welcome back to the show. Today, I want to talk to you about taxation. And I’m not going to talk to you about financial taxation so much as taxation on your life. How much time do you have to spend every day, every week, every year, every month, to do things that you don’t want to do so that you can do the things that you do want to do?
Welcome to Real Estate Investing Secrets. We’re all looking for freedom and the opportunity to live better, more fulfilling lives, but most of us were trained our entire lives to work for someone else and chase their dreams. How can we use real estate investing as a vehicle to achieve financial freedom? My life is dedicated to answering your real estate investing questions, and helping you build an investing business that allows you to change your life and the world around you, and to enable you to turn your dreams of financial freedom into a reality. My name is Mike Hambright from flipnerd.com and your questions get answered here on the Real Estate Investing Secrets Show.
What’s up, everybody? Hey, today I want to talk to you about taxation, and not so much financial taxation. We could probably talk about that for hours, but just kind of taxation on your life. How much time do you spend doing things that you don’t want to do so that you have time to do the things that you do want to do? And quite frankly, do you have any energy left after you’re done with those other things? So, I’m actually here in Boston. We’re actually leaving this morning here. Been here for four or five days. I was invited up to this leadership event to speak at the Harvard Club of Boston, which is pretty cool, and really kind of tell my story, which is kind of a financial freedom story.
And, you know, I used to be in corporate America and spent a lot of time getting educated so that somebody else would want me, only to kind of be slapped around a little bit and lose my job a couple of times and companies going away or filing bankruptcy and things like that. And, you know, I started doing a little history research here, been to Boston a few different times, but it’s usually kind of in and out. So, I haven’t been here for quite this long and, truthfully, didn’t have a lot of time to explore while we were here, but started kind of researching the Boston Tea Party and things like that.
And so, anyway, without giving a whole history lesson here, it was the first . . . it was not the first, it was one of kind of many things that led up to the American Revolution, kind of fitting it’s 4th of July this week, right? That allowed America to ultimately become independent and free. And really, it was about taxation. People started to have . . . that was some of the early signs of being taxed and that was pre-America but obviously, we’re taxed to death now.
And we could talk a lot about financial taxes, but what I really want to talk about is just the tax on your life. How much time do you have to spend doing things that you don’t want to do? You know, you spend usually your best hours of the day or your best hours of the week, best days of the week even, right, working, so that you can do the things, if there’s any time left, you can do those things that you want, which is crazy. By the way, I’m in my hotel right now. I tried to go outside. That’s why I have earbuds on. It was super windy outside. There’s a lot of . . . we’re right in Cambridge, so it was pretty noisy. A lot of street noise and construction and things like that. So, and I’m in the hotel and there’s music in a restaurant nearby. And so, wanted to create this video and sorry for the background noise. But just how much time are you spending doing things that you don’t want to do?
And I don’t want to harp on, you know, you getting disappointed that you’re not doing what you want to do, but why are you not doing the things that you want to do? Right. And this is a little bit related. I’ve actually . . . I’m not saying this to brag. The truth is I want to get home, but we have been away from our home in the Dallas area for over a month now. So, my wife and I went to a lot of, you know, we went to the UK for a couple of weeks. My son has been staying with my mom and my family in Illinois and then we came back to Illinois. And we just stayed there because a few days later we had an Investor Fuel mastermind event in Chicago, and then we came home after that and had a few days before I had to come to Boston.
And so, we kind of made that our home base. But, you know, it’s amazing the freedom that I’ve been able to build up over the years that allowed me to leave our home for a month. And the truth is, is we miss our bed, we miss our home, we just want to get home. But the fact that we could do that and the fact that . . . Honestly, we travel quite a bit and are able to do a lot of things we do. I’m not here to brag about myself, but when I look back and I kind of compare myself to some of the family members I’ve been around or some of the people that were even at this event that I was at, they were a lot of doctors that their business doesn’t run without them.
There actually were quite a few doctors at this leadership event and you could just hear them, “I need to get back. I have patients to see . . .” They have all these things to do. You know, when we were growing up, we were kind of taught to . . . or kind of, there was a lot of prestige in being a doctor or a lawyer or somebody like that, and yet the very people that we kind of looked up to and wanted to be, no offense to any of them, many of them are still chained to their job. Right? They may have their own practice, they may even have their own business, and a lot of people have their own business, but they’re trapped, in really a job, right?
They might be self-employed, but they’re not business owners if you’re still involved in the day-to-day. And I’ve been thinking about this topic too because as I said, I’ve spent a lot of time with my family in Illinois. My family is a lot of hardworking folks, but very blue collar. And just, the thought, when I was growing up, was, “If you work really, really hard, you can retire someday.” And the truth is most of the people in my family that are still alive, that followed that path either worked themselves to death or they worked really hard and they retired and they didn’t have enough to retire on. They had to continue to get a side job or do something else because their retirement wasn’t enough.
And if you look back on that, and I don’t, you know, hopefully, nobody my family is listening to this, but I don’t have anything negative to say. It’s just that’s got to be filled with regret that you look back and you gave your best years to work hard for somebody else. You give the best hours of the day. You woke up early and rushed, rushed, rushed to get to work to do something that maybe you didn’t like or certainly had limited upside for you, right? And gave up weekends sometimes, worked double shifts, worked.
Truthfully, when I was growing up and I was small, my mom was working two or three jobs and trying to go to community college part-time to better herself and now she’s a little bit older, has a lot of health issues and things and she’s still relatively young and it’s like, “Wow,” all of those best years were gone. It was taxed out of you. And some of it is just what we’re trained. Some of it is what we believe to be true or some of . . . for a lot of people, that’s all they know. That’s what you’re supposed to do. And that was kind of bred into us, let’s be honest about that, so . . .
Anyway, this is a short video. For those of you that are watching this somewhere other than a podcast, I’m actually going to put this online as well and share it but this actually is the meat of one of my FlipNerd Real Estate Investor Secret shows. If you’re not subscribed, I’d love it if you’d go out and subscribe. We’ve been doing this for almost six years, five and a half years. We have hundreds and hundreds of shows, coming up on 500 shows of this show, The FlipNerd Real Estate Investors Secret Show.
I would love for you to subscribe, subscribe to us on YouTube, anywhere else. But also, if you are watching this on social media, if you’re listening to it in the podcast, you can share this out if this messages resonate with you. If you’re watching this on Facebook or social media, comment down below your thoughts on this. Like, how much of your time are you spending doing things that you don’t want to do? And let’s be honest, if you’re a billionaire, there are things that you probably have to do that you don’t really want to do, but it’s just part of life. But I would argue those things.
You can’t become a billionaire if you’re stuck doing things with the best parts of your day, the best parts of your week, the best parts of your life, if you’re doing things that you don’t want to do. So, I would encourage you, here we are, 4th of July week, it’s a lot of talk about freedom. Truthfully, 4th of July and Thanksgiving are my two favorite holidays because it’s not surrounded with a bunch of gifts and unnecessarily even a whole bunch of decorating or any of those things. It’s always a time for me to kind of reflect on what matters most to me and, “Am I living my best life? Am I grateful enough for all that I have?”
So, anyway, just share down below, what . . . I guess, what your thoughts are on if you’re living your best life and any tips or tricks you might have on how to live your best life. That’s all I’ve got for now, guys. Hope you have a great day. Have a great 4th of July, 4th of July week. Be safe. And, you know, as I say on this show, actually it’s our tagline, right? “Keep on fighting for freedom.” That’s what the 4th of July is all about. And for us, it’s financial freedom. It’s freedom of your time, freedom to do the things that you want with your life and with your family. So, that’s all I’ve got for now. Appreciate you more than you know, take care. Have a great week.
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