Creating A Nest Egg So You Can Retire (Encore)

In this episode of *The Missing Secret Podcast*, John and Kelly discuss the concept of creating a nest egg so you can retire. In discussing this, Kelly notes that she was a saver from a young age. Literally putting aside 20% a year. She was taught this by her dad who made her read the classic book Richest Man in Babylon. It truly is a fabulous book that really explains the concept of saving and compounding interest. John points out that he wasn’t that enlightened when he was younger. He didn’t really save in his 30s and 40s because he thought he would hit it big at some point in his entrepreneurial career. Fortunately he did. But it wasn’t a good strategy not to be embracing savings from a young age. John talks about how when he sold his company he got a large amount of money. And his idea was he just had to get about 5% return on the money in order to pay all his living expenses. But he discovered something he wish he had been alerted to at a younger age. Investment planners and money managers always tell people to diversify as opposed to investing their money in the S&P 500. With the idea of avoiding that 30% drop in the market that happens about every 10 years. But John found that not to be good strategy. Inevitably, that strategy of diversification would maybe cost John 10% a year of less returns than he would’ve gotten if he had invested in the S&P 500. So John is now at the point of embracing the idea of just putting his money in the S&P 500 and not doing anything else. This is actually the strategy of Warren Buffett. He says that by investing in the S&P 500, you’re investing in the United States. Which is the most powerful and innovative country in the world. And in the long run, that works out. Then John goes on to talk about the concept of never loaning money to anyone. Make that your golden rule. Kelly says she never learns money with the expectation of getting it back. And the last tidbit John talks about is never doing private investments or limited partnerships. Only invest in the S&P 500 and publicly traded stocks. The last thing John and Kelly talk about is clarity. Most people have about 40% clarity in their life. Watch what happens when you get it up to 100% clarity and you feed that clarity to yourself each day. Game changing. Buy John’s book, *THE MISSING SECRET of the Legendary Book Think and Grow Rich : And a 12-minute-a-day technique to apply it* here. **About the Hosts:** John Mitchell John’s story is pretty amazing. After spending 20 years as an entrepreneur, John was 50 years old but wasn’t as successful as he thought he should be. To rectify that, he decided to find the “top book in the world” on SUCCESS and apply that book literally Word for Word to his life. That Book is Think & Grow Rich. The book says there’s a SECRET for success, but the author only gives you half the secret. John figured out the full secret and a 12 minute a day technique to apply it. When John applied his 12 minute a day technique to his life, he saw his yearly income go to over $5 million a year, after 20 years of $200k - 300k per year. The 25 times increase happened because John LEVERAGED himself by applying science to his life. His daily technique works because it focuses you ONLY on what moves the needle, triples your discipline, and consistently generates new business ideas every week. This happens because of 3 key aspects of the leveraging process. John’s technique was profiled on the cover of Time Magazine. He teaches it at the University of Texas’ McCombs School of Business, which is one the TOP 5 business schools in the country. He is also the “mental coach” for the head athletic coaches at the University of Texas as well. Reach out to John at john@thinkitbeit.com LinkedIn: https://www.linkedin.com/in/john-mitchell-76483654/ Kelly Hatfield Kelly Hatfield is an entrepreneur at heart. She believes wholeheartedly in the power of the ripple effect and has built several successful companies aimed at helping others make a greater impact in their businesses and lives. She has been in the recruiting, HR, and leadership development space for over 25 years and loves serving others. Kelly, along with her amazing business partners and teams, has built four successful businesses aimed at matching exceptional talent with top organizations and developing their leadership. Her work coaching and consulting with companies to develop their leadership teams, design recruiting and retention strategies, AND her work as host of Absolute Advantage podcast (where she talks with successful entrepreneurs, executives, and thought leaders across a variety of industries), give her a unique perspective covering the hiring experience and leadership from all angles. As a Partner in her most recent venture, Think It Be It, Kelly has made the natural transition into the success and human achievement field, helping entrepreneurs break through to the next level in their businesses. Further expanding the impact she’s making in this world. Truly living into the power of the ripple effect. Reach out to Kelly at kelly@thinkitbeit.com LinkedIn: https://www.linkedin.com/in/kelly-hatfield-2a2610a/ Learn more about Think It Be It athttps://thinkitbeit.com/https://thinkitbeit.com/ LinkedIn: https://www.linkedin.com/company/think-it-be-it-llc Facebook: https://www.facebook.com/thinkitbeitcompany **Thanks for listening!** Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page. Do you have some feedback or questions about this episode? Leave a comment in the section below! **Subscribe to the podcast** If you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on Apple Podcasts or Stitcher. You can also subscribe in your favorite podcast app. **Leave us an Apple Podcasts review** Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. 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