When it comes to success, gratitude is ultimately part of the journey. Or at least is should be. That’s what Cash Flow Diary podcast guest Austin Netzley shares in this viewpoint in this intriguing interview. Austin knows what he’s talking about, because he interviewed 75 successful entrepreneurs who all say the same thing. Plus, Austin is a mighty grateful individual himself! What about? Getting out of college and landing a great job. But then he realized that something was wrong with his life’s picture. He had worked hard through school and was working harder in the job… yet he was broke. He had landed smack dab in the middle of the rat race and he knew he had to change his mindset to change his life’s path. It took him a little while to get there, because he was comfortable for his first few years. After all, he may have been deeply in debt, but he was earning six figures. A lot of people would want what he had. Who was he to lack joy in his career? But he wasn’t happy. He wanted to do something different. It took reading a few great books to push him to make a move. He couldn’t get enough reading in every day. He had to shift his mindset from a middle-class mentality to being an entrepreneur. You’ll be surprised by the books on his reading list! You’ll enjoy hearing his message and learning about how he went on to create the life he wanted, which included retiring young, earning plenty of cashflow and eventually being an author! (He even interviewed me, so my story is included.) Learn more. Listen Now
On this episode of Cash Flow Diary J interviews Austin Netzley, who is a former athlete turned engineer, investor, entrepreneur and author. Austin is the founder of One Pursuit Investments, Yo Pro Wealth podcast, and overcame eighty thousand dollars of debt and a middle class mindset to find financial freedom within a few years.
04:50 Austin’s origin story
09:08 The three books
12:13 Knowing enough
15:07 Taking action
18:51 Austin’s book
22:17 Apply for a free one-on-one break though session / J’s weekly insight
22:29 Paper assets
26:35 Understanding goals and the stock market
28:32 Starting with $500
30:26 Overcoming a middleclass mindset
35:19 Mastermind groups
38:00 Making mistakes
44:15 Contacting Austin
Main Questions Asked:
- What is your origin story?
- What was the point where you said, “I don’t like this and I’m going to do something about it?”
- What were the three books?
- What was it that took you from data collection to action?
- How can you find out that you ‘know enough?’
- How did you free yourself from the ‘what if’ trap and get the courage to move forward?
- What is in your book? Why did you choose to write it and who is it really for?
- Why paper assets?
- What resources do I need access to in order to make this happen?
- Explain more about starting with $500.
- Why is overcoming a middleclass mindset important?
- What has been successful in creating your success?
- Tell me about the time when you made a mistake.
- What gave you the confidence to say “I don’t need this job?”
Key Lessons Learned:
- It’s often not what happens to us but how we react or perceive what is happening, that begins to change the result.
- Freedom is the ultimate measure of wealth.
- You learn a lot more from direct relationships than you do from a one way feed of information.
- You can’t fix what you don’t know.
- Awareness is priceless in anything that you do.
- Catch your failures and be realistic about what is working and what is not, as well as measuring yourself versus your peers.
- Once you know more than everyone in the group, it is time to move on.
- The hardest piece is to get into motion, because once you try something, it’s not that big of a deal and you will survive.
- Everybody’s journey is really the same and we all go through the same sequential steps.
- The definition of wealth is abundance of money and possessions.
- Most people would choose unhappiness over uncertainty.
- Action is the real measure of intelligence.
Investing in the Stock Market:
- You don’t have to start with $100k; some people start with $500.
- If you have more than 10 years available, then investing in the stock market can be simple.
- The market on average goes up over an extended period of time.
- There has been zero times where the market has declined over a ten year period.
- Dividends are payments you get on a quarterly basis.
- You want to start with as much money as possible, but you don’t necessarily have to.
- Options: This is buying a bundle of stocks at once for a lower cost.
Steps to Get Started:
- 1. Define your goals.
- 2. Define how investing will be used for you (e.g retirement is a different strategy than is used for income).
- 3. Get started with something simple.
- Find simple strategies that have proven themselves over decades.
- If you have a typical brokerage account, you will be paying $10 per trade.
Overcoming a Middle Class Mindset:
- Start having more confidence and think like the rich do.
- A shift in mindset can be the difference in $100 and $1 Million.
- This is about thinking in a certain way and acting in a way that coincides with that.
- The size of the problem dictates the size of the success.
- Successful investing should be as interesting as watching paint dry (it’s all about numbers).
- Find somebody who has a lot more answers than you.
- Surround yourself with people who are going to the same place as you.
- Find your people, i.e those who are motivated and have the same mindset.
- This group will give you a coach, accountability, and resources.
- Mastermind groups will pull you to wherever they are going (whether that is down or up).
- Environment trumps will.
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Links to Resources Mentioned
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