Growing up, conversations about money were more taboo than discussions about sensitive topics. This silence around finances created a cloud of confusion as I navigated adulthood, leading to numerous money-related challenges. Despite my academic background in Economics, Biology, and Statistics, I found myself grappling with fundamental money issues. It became clear that academic knowledge alone wasn’t enough to overcome deeply ingrained limiting beliefs about wealth.
Do any of these limiting beliefs about money resonate with you?
- Thinking about money is something I avoid…
- Talking about money makes me uncomfortable.
- I’m simply not good at handling money…
- Earning money requires constant hard labor…
- Wealthy individuals are either lucky or unethical.
- I tend to spend money almost immediately after receiving it.
- My approach to money mirrors my parents’ – a pattern I’m now noticing.
- Making a million dollars feels like an unattainable dream.
- Deep down, I believe that wealth and happiness are mutually exclusive.
- Secretly, I consider having a lot of money to be selfish.
- I live with a hidden fear of running out of money someday.
- I believe more money would solve all my problems.
You might be surprised to learn that even the wealthiest individuals often harbor similar beliefs and limitations.
My experience coaching the adult children of billionaires has revealed that material wealth doesn’t automatically equate to happiness. Unless you’ve seen the TV show Succession, it’s hard to imagine the complexities that come with extreme wealth.
I’ve also coached numerous self-made millionaires, high-net-worth individuals (with assets between $1 million and $30 million), and ultra-high-net-worth clients (assets exceeding $30 million). Surprisingly, the idea of retiring early rarely crossed their minds, and the fear of financial insecurity still lingered for some, regardless of their net worth.
Furthermore, I’ve worked with individuals who’ve experienced significant financial losses, often over a million dollars. Remarkably, most of them managed to rebuild their wealth.
In my interactions with unhappy millionaires, I initially struggled to understand how dissatisfaction could coexist with such financial abundance. Eventually, I realized a crucial truth: money acts as an amplifier. If unhappiness is your baseline, more money will intensify that unhappiness rather than eliminate it.
Conversely, I’ve coached incredibly happy individuals in professions not typically associated with high income – nurses, teachers, artists, clergy, firefighters, and military personnel. They instinctively understood what the 85-year Harvard Study of Adult Development has consistently shown: money can provide security, safety, and control, but it cannot, on its own, buy happiness.
True wealth extends far beyond mere financial accumulation. It encompasses meaningful connections, strong relationships, contributing to society, and making a tangible positive impact.
However, this broader perspective on wealth doesn’t negate the value of pursuing financial success.
While a million dollars may not guarantee happiness, making a million dollars’ worth of difference in the world can be an incredibly fulfilling aspiration.
The common approach to money is often depicted humorously:
This meme resonates because many of us have experienced that feeling of financial anxiety. I certainly have.
But over two decades ago, I embarked on a conscious journey to understand money. I immersed myself in nearly 100 books on the subject, consulted with financial experts, and built relationships with top-tier bookkeepers, accountants, and wealth managers. Conversations with my brother, a financial consultant, also proved invaluable.
Through this deep dive, I discovered something profound: I Love Money! Yes, I openly admit it.
I love the process of making money. I also love the act of giving it away. The more I earn, the greater my capacity to contribute to causes I believe in. Given my profession revolves around transforming lives, increased earnings directly translate to a larger positive impact.
Saving money is another aspect I appreciate, securing my family’s future and providing for my children.
And I wholeheartedly enjoy spending money on things that enhance my life. At this stage, I prioritize spending on experiences and conveniences that create ease and enjoyment – business class travel, luxurious glamping experiences, expedited airport services, and private transportation.
My values around money have evolved. There was a time when I prioritized frugality, always opting for economy travel and budget accommodations. However, my perspective shifted as I recognized the value of spending consciously on experiences and comforts that enrich my life.
As I write this, I’m embarking on my annual three-month summer vacation. Currently, we’re enjoying a three-week trip to England, following a week spent on a canal boat. We’re staying in a lovely riverside home in Putney. Next, we’re off to Denver for a camping adventure and then to Wyoming for a family wedding. Following that, I’ll be in Italy for two weeks, leading a 4PC Intensive and enjoying a family trip to Lake Como.
Image of a canal boat on a river, representing leisurely travel and vacation.
Image of a scenic landscape, possibly mountains or countryside, representing travel and nature.
Living a fulfilling life is one of the most valuable contributions you can make to your clients.
While I excel at making, spending, and giving money, managing money isn’t my forte. That’s why I’ve assembled a skilled team to handle those aspects. I’ve also dedicated years to learning effective investment strategies.
The 6 Masteries of Money: A Self-Assessment
To gain a clearer picture of your financial strengths and areas for growth, consider this Money Mastery Audit. For each of the six masteries below, assess your current level on a scale of 1 to 10 and identify your desired level in 12 months.
- Making Money: How skilled are you at generating income? (Can you attract clients through referrals? Do you command higher fees? Can you create passive income streams?) Scale: 1-10.
- Spending Money: How effectively do you spend? (Do you spend consciously on valued experiences and luxuries, not recklessly?) Scale: 1-10.
- Saving Money: How well do you save? (Do you have an emergency fund? Savings equivalent to a year’s income? A financial freedom account for long-term security?) Scale: 1-10.
- Managing Money: How proficient are you at financial management? (Do you understand profit, cash flow, revenue, tax planning, and negotiation?) Scale: 1-10.
- Giving Money: How generously do you give? (Do you contribute time, skills, and finances to causes you support?) Scale: 1-10.
- Investing Money: How effectively do you invest? (Do you invest in stocks, mutual funds, real estate, your business, or personal development?) Scale: 1-10.
Which of these six Money Masteries is your strongest area? Which mastery would you prioritize improving in the next year?
To become a Prosperous Coach, you must cultivate a Prosperous Life, which encompasses far more than just increasing your bank balance.
Having earned millions throughout my career, I started as a high school teacher with a modest income.
I vividly recall the anxiety of client acquisition and a painful financial misstep that led to $100,000 in credit card debt. However, I’ve also raised significant funds for charities, contributed to building five schools in Africa, and support animals at a sanctuary.
I’ve experienced the full spectrum of financial ups and downs and discovered what truly matters beyond monetary wealth.
My journey has equipped me with insights into coaching others on their “money stuff” – which, I’ve learned, is rarely just about the money itself.
I’ve guided clients in releasing their limiting money beliefs permanently. I’ve empowered countless individuals to transition from paycheck dependence to successful entrepreneurship and coaching careers. And I’ve quietly provided scholarships to aspiring coaches.
This experience led me to create Money, Money, Money – a training program designed to help you build a Prosperous Life and guide your clients to do the same.
Benefits of Joining Money Money Money:
By enrolling in Money Money Money, you will:
- Enhance your ability to create money.
- Develop conscious and intentional money spending habits.
- Learn to save substantial amounts effectively.
- Gain understanding of money management or learn to delegate it to experts.
- Cultivate a love for giving to causes that resonate with you.
- Grasp the importance of making your money work for you through investments.
- Discover how successful coaches and entrepreneurs handle their finances and overcome money challenges.
- Elevate your lifestyle by understanding when and how to spend on luxury.
- Confidently coach successful, wealthy clients by understanding their unique perspectives without fear.
- Make financial decisions with increased self-assurance.
- Define your personal vision of a Prosperous Life by identifying your prosperous values.
- Uncover and dismantle the 3 Toxic Money Myths and debunk scarcity-based beliefs.
- Recognize that conventional money rules are a foundation, not a limit to your financial potential, empowering you to create your own rules.
- Learn to guide your clients in planning for their Prosperous Lives.
- Make conscious spending choices aligned with your priorities, whether health, experiences, travel, or luxury.
- Become financially fearless by leveraging your time and energy effectively.
- Understand why some friends and family may unconsciously resist your financial success and learn how to navigate this dynamic.
- Realize that true wealth encompasses time freedom, energy, and strong relationships, not just monetary accumulation.
- Understand how money amplifies existing traits: insecurity intensifies with more money if not addressed beforehand.
- Identify and transform your unconscious money beliefs and biases into empowering perspectives.
- Understand the principle that as wealth grows, certain activities may become less viable.
- Gain insights into your life priorities by examining your bank statements and spending habits, revealing your true values.
- Achieve financial freedom from the inside out, fostering a mindset of abundance.
- Master the game of money with strategic knowledge and awareness.
- Acquire top-tier sales strategies essential for entrepreneurial success.
- Learn the fundamental principle that people buy only 4 things, guiding your sales approach.
- Learn to charge higher fees by solving bigger problems, delivering greater value, and recognizing your inherent worth.
- Understand the 4 key reasons why charging premium fees is essential for sustainable success.
Who This Program Is NOT For:
- Individuals seeking quick-rich schemes or shortcuts to success without effort.
- Those looking for a course on basic financial literacy, accounting, or complex investment strategies.
- Individuals currently facing significant debt requiring immediate professional financial assistance.
- People seeking frugal money-saving tips like couponing or extreme budgeting.
- Those expecting a “Law of Attraction” approach to manifesting wealth through visualization alone.
This program IS for you if you are committed to creating a Prosperous Life and empowering your clients to do the same.
Money is a tool, valuable for acquiring goods and services. However, it cannot buy intrinsic happiness, love, or genuine relationships.
Money is not your identity, but rather a measure of your impact and contribution. When used consciously, it can amplify your creativity and generosity.
With Love,
Rich
Ready to elevate your coaching practice? Explore these 4 impactful strategies to boost your income and expand your influence:
