Richard and Kaitlin Fergeson are small business owners, real estate investors, travel junkies, and parents to four amazing children. After the unexpected death of Richard's father, they decided that life was too short to not live it their way. They strive to live intentionally and embrace every day. Faith, Family, and Finances are the cornerstone of their mantra to #liveitfull. Listen to Richard and Kaitlin document their own journey, the successes, and the struggles that come with it. They have worked hard to have financial success and also raise a family without sacrificing either. They want to inspire you to do the same, to live intentionally, to LIVE IT FULL. www.liveitfull.com
21 Rules of Money
1: 70/20/10 - Live on 70% of your income, invest 20% and give away 10%.
2: If you can’t buy something with cash, don’t buy it with credit (other than a car or real estate).
3: Have six months of living expenses in cash but no more than that.
4: Don’t waste money.
5: Don’t spend money based on emotion.
6: When investing your money, do your due diligence, then do it again.
7: Think four generations in the future before you spend or invest your money. Will it benefit my children’s children?
8: Never carry a credit card balance unless it’s at 0%.
9: Never have all your money in one account. (Read Profit First if you haven’t)
10: Never have all your money in one investment (unless it’s your first deal).
11: Never spend more than you can truly afford. You have to know what you can afford.
12: Don’t spend money solely to impress others, the Joneses are broke, you just don't know it.
13: Make sure the reward always outweighs the risk.
14: Treat your money as if you worked hard for it, even if you didn’t.
15: Never work for the same dollar twice.
16: Manage and adapt your budget monthly.
17: Know your numbers (this is most people’s biggest issue)
18: If it sounds too good to be true it is, trust me.
19: Inform yourself of how taxes work and pay accordingly, get a good CPA.
20: Never rely on just one source of income, the average millionaire has seven.
21: Spend your time earning money until you can spend your money earning time.
Thursday Thoughts-Memento Mori
Meditating on your mortality is only depressing if you miss the point. It is in fact a tool to create priority and meaning. It’s a tool that generations have used to create real perspective and urgency. To treat our time as a gift and not waste it on the trivial and vain. Death doesn’t make life pointless but rather purposeful. Ryan Holiday
Richard and Kaitlin discuss their takeaways from the book "Atomic Habits" by James Clear.
Thursday Thoughts- The 1%
"Out of every one hundred men, ten shouldn't even be there, eighty are just targets, nine are the real fighters, and we are lucky to have them, for they make the battle. Ah, but the one, one is a warrior, and he will bring the others back." -Heraclitus
There are two types of tired...
Do you need rest or peace? Physical sleep or mental relaxation? Kaitlin and Richard discuss what they do when feeling worn down.
Thursday Thoughts- Impossible
Love these guys!
Real people, real life, really practical stuff! Love listening in, I’m always encouraged and left with good stuff to chew on! #faithfamilyfinances #liveitfull 👊🏻👏🏻💪🏻
Always fun content. Live it Full is one of my favorites for sure.
Listened to the episode about Atomic Habits, great book. Look forward to hearing more!