How To Make Decisions That Set You Up For Financial Success With Paul Luchau

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Life is all about making decisions. But are you making the right ones that will set you up for financial success? In this episode, Paul Luchau poses important questions to help you evaluate how you’re handling your finances. Paul is a speaker, educator, and financial adviser. Today he shares how he helps his clients get started on their path to financial freedom. He explains the importance of savings and the concept of lost opportunity costs. If you want to learn more about managing your money, then this is the episode for you. Join in to get more financial know-how from an expert! --- Listen to the podcast here: How To Make Decisions That Set You Up For Financial Success With Paul Luchau We are going to talk a little bit about finances, something that we have yet to cover in this show. Some of us are idealists. Some of us are thinking about following our passion and dreams. What this means for humanity don't always want to think about money and finances. Finances are one of the things that prevent a lot of people from doing what they want to do in life. I have seen a lot of different estimates about the number of Americans that live paycheck to paycheck. Searching through all these estimates, it's consistently over half, which means that finances in a lot of situations are preventing you from fulfilling your mission in life and going for it. To further discuss this topic, we bring on Paul Luchau from The Momentous Group, who has some great ideas about how we can manage our finances a little bit better and free up that time, as well as free up that slack in our cashflow so that we can go out and pursue what we want to pursue. Paul, thank you for joining us. Thank you for having me. Tell us a little bit about The Momentous Group and what you do. There are a lot of financial plannings out there I believe anyone can instantly find if you hit the networking circuit, a ton of financial planners. What does The Momentous Group do that's so different from your standard financial planning? I have done this for a long time. I was fortunate when I’ve got into the business in 2000. I spent fifteen years in mortgage banking from ‘85 to 2000 and then leaped over into what I do now. It's interesting to talk to people over that many years about their money, what they earn, spend it on, save, what their debts are, and so on. We will talk about this, the Law of the Masses and whatnot. I noticed trends. What I noticed were all those years I could count on about one hand the people that I thought had it together financially. The paycheck to paycheck, the numbers of people are high. I started to realize that most people were doing the same things with their money like everybody else, yet they were expecting a different result. We all know that's the definition of. It became evident to me. I started this study and tried to understand what those trends were and how to combat them. That's an aggressive word. How to look at what everybody is doing, go the other way, and get on a journey that the people were emulating were on versus the ones that everybody was doing. If you do the same thing as everyone else is doing, you should expect the same results that everyone else is getting. When you think of what everyone else is doing, we know it's more than half living paycheck to paycheck. Even more than that is the number of people that feel like they can't pursue their passions because they have to keep that paycheck going. They can't even take a job that may be more meaningful to them but it has a slightly lower salary because of that you are seeing that cause people end up in that situation. Most people are doing the same thing with their money as everybody else, yet they’re expecting a different result.Click To Tweet The people that I work with, I teach them principles. I like that word because the principle is foundational. How do you live your life? What are the principles you live your life by?