The interviews I feature on Build A Bigger Life are generally people I’ve met in traveling around the country. Rocky Lalvani said one thing to me that stuck with me for days afterwards and THAT is the reason he’s on the show with me.
Rocky is the founder and chief writer at RicherSoul.com. He’s a financial coach, an enrolled agent with the IRS, and a money savvy blogger who’s helping people live richer more contented lives.
One of the things Rocky and I have in common is our desire to prepare our kids for the financial decisions they’re going to make in life. His stories about teaching his kids delayed gratification happen around the 13:00 mark, and I think you’ll be inspired to do the same things with your children. The strategies he uses are extremely intuitive, very simple, and incredibly effective.
“Wealth is doing what you want, when you want, how you want.” According to Rocky, the definition of wealth is different for everyone. It’s not a number, it’s not an exact science. However, there are ways to redefine what it is that makes your life happy and leave you feeling successful and fulfilled.
Putting money away month by month is the process that Rocky encourages and gives some really valuable advice when he says (at 25:00), that the first $1,000 is hard but the second $1,000 is easy. Same for the first $10,000, $100,000, and $1M. But while it may take you 30-40 years to build the first million, it may only take 5 years to build the second million.
At 29:00, Rocky talks about no one having a statement of cash flows and/or a budget. If you don’t know where the money is going or what it’s bringing you, are you really living in alignment with your values? Or are you just going through the motions but getting farther away from the life you imagine?
Books recommended by Rocky:
Money Master The Game by Tony Robbins
Rich Dad Poor Dad by Robert Kiyosaki
If in debt, anything by Dave Ramsey
For more information on Rocky and his services, check out his website: www.RicherSoul.com