by

by

Vincent Pugliese

How Can I Replace My Income?

Let me guess what you are thinking. You want to start a business to build that life of freedom but there is no way that you can replace your income to make it a reality. Trust me, I hear it all of this time. 

David attended one of our Total Life Freedom live events, and he was in that exact spot. Actually, the spot he was in was so similar to where so many of us are- or have been- that it was a little strange. 

He was talented in his world but stuck in the corporate grind. They paid him well- enough to live a comfortable life but not enough to feel comfortable in life. He despised the commute, could no longer tolerate the office politics and worst of all, realized that he wasn’t doing work that he loved. 

So he came to our event looking for answers. But he kept putting up roadblocks. Each step of the way, each suggestion was met with a reason why it wasn’t possible for him. I’m kind of a pain so I pushed. There’s a reason why Tricia Prues gave me the title of ‘Pushy Pugliese’. 

The more we pushed, the more the truth came out. It wasn’t that he didn’t believe that he could do it. He just didn’t think he could replace his six figure income- and replace it quickly. So the desperation of needing to replace that income quickly is what kept stopping him. But he was missing the real question. 

What did he really need? And more importantly, what did he really need for his freedom? Did he truly have to replace his full salary to be happy? As we broke down what his goals were, making that amount of amount of money wasn’t his top goal. Freedom, doing work he loved and being with his family more were the most important things. Is it funny how we give up everything for something that isn’t as important?

So we began pressing him on how much money he needed. He already had a side business earning decent income. So we did a fun little budget audit to determine what his family really needed for them to be free. We asked about every expense. How much are groceries each month? Insurance? Mortgage? Vehicles? Activities for the kids? Household items? Memberships and subscriptions?

We went through everything and listed them all out. We even added in a few thousand dollars extra for things we might have forgotten. He added it all up and looked confused. I have gotten used to that look after this exercise. 

After he added it all up- twice- he saw that the total was about half of the salary that he was desperately hoping to replace. 

“Does it feel different- and not as difficult- knowing that you need to earn half of your salary to cover your expenses to start?,” I asked.

I then went in for the kill. 

“You are already making sixty percent of that number with your side business. And you are doing this on nights and weekends,” I explained. “If you are already making sixty percent of what you need while only dedicating a fraction of your time to the business, what could you possibly do if you made this your full time focus?”

The message, thankfully, got through. Although still hesitant, he set a date to leave his job, planned accordingly and left for his life of freedom with his family. 

So often, we believe that we need more than we really do. And that untrue belief alone has been an American dream killer. We accept that just because we make a certain salary, we must replace that number to do something else. But is money the goal, or is it freedom? If it’s freedom, replacing your current salary might be irrelevant. 

What we really need to ask, is what do I need to begin to live the life that I want. Nothing more, nothing less. Because when you realize that that freedom will give you unlimited opportunity and possibility, there is no limit for that income once you have freedom. If you even desire that. 

But to get that set, you need your fruit in order? Fruit, you ask? What is that?

We’ll talk about that tomorrow!

Archives

An Introduction To The 80/20 Rule

What I want to bring to you, each week in this blog, is a topic that will help you gain the freedom that you want in your life. So many people crave financial freedom. But what is overlooked is the concept of time freedom.  When you can learn to free your time, and be less

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How (And Why) We Should Accept Compliments

I’ve never been good at accepting compliments. Now don’t get me wrong. I want the compliments- sometimes way too often. I have craved the compliments but I was never good at accepting them. WIth that,  I was called out publicly a few years ago on a mastermind call that I was on with John Lee Dumas from Entrepreneurs on Fire. I don’t remember who it was, I think it was Roger Whitney, the host of the Retirement Answerman Podcast who gave me the compliment. Roger is my friend yet the compliment took me by surprise. Others in the group agreed with him and I responded with a very muted, okay, thanks, or the whole ‘it’s no big deal’ type of thing. And John called me out on it, which I so appreciated as painful as it was in the moment. And this is why I love masterminds. And why I love accountability. I don’t respond well when people complain about judgment or they say ‘who are you to question me on what I did’? You can have a great life- go do your thing-  but we’re not going to relate. I like challenges,. Especially when they come from people care about me. And if you can’t take constructive criticism from somebody who cares about you, you’re always going to be limited in your growth. So some people can call it criticism, but it was one of the best pieces of advice.  John basically said to me, don’t do that. You need to be able to handle compliments better than you do. And he explained that we are diminishing the other person’s gratefulness by doing that. And I’ve never really thought of it that way. Actually, I know I’ve never thought of it that way. I always thought that I was being humble. I didn’t want to brag. I didn’t want to pound my chest and say, yeah, I did do that. Nobody loves somebody that does that. But there’s a big difference between being quiet, defensive, and evasive than there is from the bragger. It’s actually two ends of the spectrum and neither of them are good. So I’ve met John many times. I’ve seen him at conferences. He gets swarmed by people, often people that want to tell them how much he’s helped them with this podcast. And he mentioned to me how he handles compliments. He handles it with a lot of gratitude and appreciation and he makes sure that there’s the big smile that goes with it. As well as a giant, thank you. And the appreciation for this person to go out of their way to give him a compliment. You have to understand the true thankfulness does not give off an appearance of vanity or excessive pride. What you are doing is you are appreciating that person’s compliments and giving them recognition. Now I’m going to guess that if you’re listening, you probably don’t go overly crazy on self praise. It’s just a guess. I’m also going to guess that you might go way on the other end and you might deflect or even feel uncomfortable but what’s even worse is if you reject it. But when you reject the compliment, you are not only  downplaying yourself, but you’re downplaying them as well. And without meaning it you’re downplaying their intelligence because if they truly believe in what you did and they’ve truly given you a great compliment, and you tell them that it wasn’t any good or it really wasn’t worth it, Basically what you’re telling them is that their opinion is an accurate. It’s an insult to the person giving you the compliment. So when you reject or deflect a compliment, what you’re really doing is you’re projecting the idea that you have low self esteem. I’m sure you’ve had it where you’ve given a compliment and it’s been blown off. It’s happened to me. And I don’t know about you, but I feel that way. I feel like I gave a compliment, I believed in them and they didn’t believe in themselves. And it made me feel like maybe I was wrong in thinking that way. Somebody else we might want to avoid when you’re in that spot is to get into a compliment comparison. Have you ever done it? When somebody gives you a compliment and you have to give them a compliment right back. Someone says, ‘Your hair looks great! And you immediately respond with ‘Oh, your hair looks great too!’. And they’re like, I’m wearing a hat. And you might think, why couldn’t I just accept their compliment? Instead, I needed to give it right back. And now it seems phony because what will happen is you’ll come across insincere. So to begin with you’re deflecting, you’re getting it away from yourself, which goes back to what we talked about earlier. But you have to think about this- were you really going to compliment that person on what you did compliment them on? Would you have just walked up to that person and said, ‘Your hair looks great today’ when they’re wearing a hat? No, of course you wouldn’t. It’s got to be sincere. It’s got to be meaningful. And it’s got. to be honest. So stop doing that.

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The Price of Perfection

The price of perfectionism. According to author Valerie Young, perfectionists who hit 99% of their goals still feel like a failure. These are the people who are the ones who need to know every piece of information before they can start. I am sure that there are people that are cringing as they’re reading this. Even in our mastermind calls, there are people that will say- no- I need to get this thing done perfectly before I can move on to that next thing. They are the ones that who say things like ‘I’m not an expert enough to teach people what I know’ and that I need to learn more. You need to study more before you can even start to put anything out there. Does that sound familiar? That in essence is perfectionism. These are the ones that are always looking for new certifications or a new skills to learn before they can go forward. The perfectionist just need that next certificate, that next course or or if they can get this next part just right then I can get started. So in the episode of The Total Life Freedom Podcast, I talked about my book and self-sabotage. Today I’m going to give you a lesson that I learned that forced me to actually finish and publish my book and get over my own perfectionism. So when I first had the idea of writing a book, I went to different book clubs to learn. I wanted to meet with other authors, to see what they’re doing and soak it all in. I was hoping to learn from them, get inspiration for them and maybe possibly help. But I really wasn’t sure who or how I could

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How To Reinvent Yourself

And Then Covid Happened… That is a book title if you’d like to run with it. And I’m not talking about anything to do with health. But I am talking about how so many businesses and careers were tossed around and flipped on their side like a swath of boats strewn along the land after

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The Rich Don’t Work For Money

Andrew is walking towards me. He has a tarantula in one hand and a plastic red Solo cup filled with money in the other.  In that moment, it was obvious that he was on to something. Andrew is our oldest son- a sixteen-year-old who who was fifteen at the time. He has always had an

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