Develop Clear Goals For Your Financial Future – A Look Under The Hood

Business Coach | Ask Clay & Z Anything

Audio Transcription

Are you struggling with setting financial goals? If so, listen in to this episode of A Look Under The Hood with Tulsa’s best CPA Paul Hood at Hood CPA’s to find out how to develop clear goals for your future.

You must be deliberate with long term and short term goals

  1. NOTABLE QUOTABLE –  “Begin with the end in mind.” – Stephen Covey
  2. MYSTIC STATISTIC –  Federal Reserve study showed that 47 percent of all Americans would be unable to cover a surprise $400 expense.
    1. https://www.forbes.com/sites/jeffreydorfman/2017/02/22/most-americans-have-no-savings-but-loan-the-government-200-300-every-month/#55eb1ed673c0
  3. You must set your F6 Goals
    1. Faith
    2. Family
    3. Finances
    4. Fitness
    5. Friendship
    6. Fun
  4. NOTABLE QUOTABLE – “Vision Without Execution is Hallucination.” Thomas Edison

 

  1. NOTABLE QUOTABLE  – “Compound interest is the 8th wonder of the world” – Albert Einstein
  2. DEFINITION MAGICIAN – Fiduciary – involving trust, especially with regard to the relationship between a trustee and a beneficiary.
  3. Action Steps:
    1. Step 1 – Set specific lifestyle goals
      1. Faith
      2. Family
      3. Finances
      4. Fitness
      5. Friendship
      6. Fun
    2. Step 2 – Focus on weekly financial goals
      1. Set an automatic savings plan
      2. Pay yourself first
    3. Step 3 – Don’t die!!!

Broadcasting from the Thrive time show best business coach studios in beatbox that rocks it is tulsa’s number one cpa and every way he’s a gentleman it’s time to take a look under your financial with paul Hoodt, great folks in broken, arrow owasso. Anybody in the 918 how you doing good morning and welcome to look under the hood with paul hood tulsa’s number one cpa in every way, paul hood. How are you doing? I am amazing clay. I, don’t know if you listen to that. You work all the time as the best business coach. You’re always predict work, work, work, work, work, yeah, it hurt cps.Com I like to try to stay current on things. Did you know? I was listening to talk radio like at 3:30 this morning, wow yeah and did you know spaceship are now triangular shaped space. Ships are now triangular-shaped, been seeing all over the place and then also spirits ghosts augusta. The first thing you just said you can’t just skip. Was that a real thing you just said? Yes, okay, so then jump. We got from the show notes, as is tradition, so people go to avoid cbs.Com I’d likeput, a picture of darth vader’s ship, the one he was is imperial, cruiser I believe, is what he wrote in there. Maybe you could find out what impact darth vader was was driving it still. Actually, in that until your rep, are you referencing, star wars? Is that what you’re saying or is he’s real, though this was a talk, I think it’s called america cross the radio or just check that back to you. It was great. You know there was all kinds of good information and it’s the thing that caught me. Off-guard, though, is this. Then they shifted gears from from aliens 2 ghost and did you know ghosts change clothes, ghosts change, clothes out? The question was, for the sex part is okay. If you see a ghost on monday and you see a ghost on tuesday, are they wearing the same clothes as he said? No, they change clothesadd.

The great folks of 1170, listen to coast to coast, to my wife, actually likes listening to it cuz. She says it’s just kind of you know what she’s never going to eat here on that thing, but i, don’t necessarily know whether the data there were painting from coast to coast, mike ness, might be as your cpa. I. Don’t i, don’t know whether you can verify these things to his early life book. Is there all clear goals for your financial future workshop for I want to say about 20 members of the hood nation that attended a workshop at the thrive time show headquarters at in a beautiful jinx america how you posted that, with a marshall morris and a clay stairs, can you talk to me about to open, clear goals in specific and maybe that group of people and how exciting clear goals can help those people and enter audience here today. One of the overwhelming theme of the meeting in android success in life is being delivered and you’ve got to know where you want to go. You got to set goals in the real good best business coach question. Do you do you set long-term goals? You said short-term goals in the answer was about so we spend some time on that you sent the long-term goal and then you back in so that’s where you want to end up, but you back in-and you said short, you said short-term goals to reach those things. So if you decide to go for 12 months from now, what are you where you going to be? You know, 6 months from now we’re going to be 3 months from now we’re going to be a month from now and where people want to be a month from now you get it. Stephen covey says begin with the end in mind. Now, seasons begin with the end in mind, however, fun fact that we’re going to put on the show knows it’s from time magazine, time magazinewhen, three americans have no retirement savings, that’s from time magazine and not from coast to coast. Orbs says that 63% of americans don’t have enough money to cover a $500 emergency. So here is here, is where this gets real through a listeners.

If you’re listening today, when what you doing I want you get out of sheet of paper and think about it, like you have your future totally out in from you can do whatever you want with your like one, every single person to do this for just a second i. Want you to write down your goals for your family. Okay, it’s right down your! It needs a what’s a family. Do you want to go on a vacation this year? Maybe that’s a goal. Maybe a goal is to put your kids in private school. I may be. Your goal is to buy a new, a new house. We were nicer, school district. Maybe a goal is to have a minivan for the kids. I, don’t know, write down your goals for your family right on your goals, for your friendship, as a best business coach program, okay, there 6, ft, r family friendship, fitness and undergoes her fitness right in your goals, for your finances right, write this down, write down your goals for fun and write down your goals for your faith. When what’s-his-face call me, you might want to attend church every sunday, and maybe what is it next to the gold write down what it costs you to do them? So if you want to drive to church when drive to church in owasso, but you live in tulsa, you might on a very real level, might cost you 9 bucks to go to church, and if you want to go to church 52 times this year, you got a budget in 52, *, 9, okay, so I just say approximately about $500. You got a budget in for church.

If your goal is to buy the kids a minivan and you want to finance it, then you’ve got a budget in $400 a month baby that thing or whatever your goals are. This is why people screw it up, though, because now it is big goals, it’s so fun setting goals, it’s so great to have a great start to the year and big dream in a big vision about new goals. But this is where the breakdown happened. I see all the time. People have huge call tony robbins books, they brother brian tracy books to listen to all the napoleon hill that can possibly handle you have got online and you watch tai, lopez and you’ve listened to your fair share of any motivational trainer out there. Man, you are jim rohn I’m talking to you are riding high, was zig ziglar. You are ready to go with stephen covey you, my friend, are on fire. You have watched all the motivation. Netflix shows you could possibly watch, but you do not have a regular recurring meeting with your accountant to keep you on track and you have not automated your savings and I’m not talking about you. It’s just an allergy I’m talking to other people, the other guy people listening to karen g this morning. Those people you guys are the same people as the karimjee. Those aren’t the same. This is what I want to add. This is where I want you to help listeners here. Let’s assume the blisters have written down their goals for their faith, their family, their finances, fitness, the friendship, but now they’re going on you know, I’m, not actually getting ahead. Talk to me at 1 about the importance of eating with an account at one time and automating your savings start. Why is that so yeah well I think it was Thomas Edison have said:vision without execution is hallucination, that’s great I love, that quote, but the key is, as you got to have somebody hold you. You got to hold yourself accountable, but you also have need somebody to hold. You accountable and I haven’t very specific goal to to do to reach your your. You know, whatever you said, or specific tasks and activities to reach those best business coach goals is very important and meeting with a business coach or a cpa that you know we love we like to meet all our clients, monthly, the ones that are really active and and proactive and want to get where they want to go, and so we can set up ok what did accomplish this week? What are we going to compass next week? In the end, you have real definable task like there’s example.

As a business coach, you want to have a relationship in our our business coaching program. The thrive time show your everyday by the way, from 12 to 2 on talk radio 1170, this very station from 12 to 2 monday through friday noon, to 2 every single day. One of our clients we work with is yourself and apollo it. So we were we work with you. This is that we can just explain this to you. Paul has a very large practice with thousands of customers need a business coach, bill campbell was the business coach of steve. Jobs really stayed a business card and the best business coach of jeff bezos, amazon and apple, and the business coach for google no way so the same coach work was he doing what he’s doing is he wasn’t telling steve jobs everything to do who try to get steve jobs to to play at his best and have a long-term, proactive strategy and then breaking down at strategy. In a week it’s a paul is seeing. There are literally thousands of tulsa pets that are going to hood cpas. Com. Thousands of you are doing the right now calm and requesting there free copy of the snowball book by warren buffett supposed to paul’s, giving away to every member of the listening audience. All you got to do is claim your book now, while supplies last just go to hood cps.Com and claim the book, but paul is looking at it going hey. We are expanding our claremore office, we’re renovating tulsa, we’re getting everything ready for more growth and I’m Looking ahead, 90 days ahead and I’m trying to figure out right now, we can keep up with everybody but I’m thinking ahead. How can I always keep them to you? How can I expand my pipeline and that’s what an accountant should do for you financially? They should help you look at where you want to go and then paul I regularly scheduled meeting with your account once a quarter. What does that kind of meeting look like for your proactive clients? What it looks like is we review the things that we wanted to get done and set goals or sets task for the things were going to get done to keep us moving on on pat and paste because clay, you know you if you set together a plan and you execute that plan, you have to measure to see where you’re at you have to see. How well did we do? How bad did we do? Did things get in the way do what do we need to change to to continue on the straight and narrow in the past, so that we don’t? You know drifting and get off course drift. So this is typically filming our shows, but I’d like to get them on a microphone to andrew by last count. How old are you 19 last time, I checked I’m really, and what are you getting married by the way I’m getting married in 21 days, so it’s 21 days and what are you you’re also buying a house how many days closing on the 26th, wow guess:you’re closing on your house you’re just a couple days close on the house getting married here.

Very soon you have the future in front of you. What, where do you see, people that are ahead of you in life, like 5 or 6 years ahead of? Where do you see them getting off financially cuz? You now been around enough, for you probably know who are 25 30 that are impossibly in debt, not to like buying a house or something it’s a, maybe an asset, but I tell you what consumer debt relief money? Have you seen your friends take care of people? You know take the first step in the wrong direction, where we seen that derail being irresponsible with things like credit cards and being irresponsible where they spend their money and not saving, and not. You know, storing up that back up for the rainy day and not being prepared not being prepared to work with business coach clients that are in their 40s late, thirties, forties lot of clients waiting on their 50s. They own a business, need the best business coach and a lot of them produce a lot of revenue and then, when you sit down and coach with them that you find out, they tell you that have I have nothing saved and y’all time to introduce him to paul hood and say:will you need it to see paul him up automated automated automated their savings pop up right things happen and if you’re not pulling that money out before you even see it, that’s why it’s got to be automatic like it’s. Not even there, then not save that money, because there’s this other piece of equipment or new printer, whatever you can do and spend that money. So you got a delayed gratification. You got to be resourceful and not need more resources right right and then you got to just take that out automatically so that it automatically coming out. You don’t even see it. You won’t even notice. It’s gone so step number one is i, want everyone every member of our listening audience to set specific lifestyle goals for yourself those f6 goals. We talked about faith, family finances, fitness, friendship, point to specific goals. That happened on a weekly basis and that’s why I want to focus on when we get back from the break is weekly financial goal how to fall hood help people set weekly financial gold. How does he have his client many of his client to become millionaires? How does he do it and before we go to the break, I want to make sure every single member of our audience gets a copy of snowball.

Snowball is the only authorized biography ever allowed by warren buffett and in that book, warren buffett teaches you how to become a financial success and paul. It wants to give you a free copy of the book simply for scheduling a one-hour consultation with paul. You get the books to get one hour of his time and the book paul. Why is this book such a great book? Why does everybody need to go to hood cps.Com and get the warren buffett book snowball? Well, you know we live in the greatest country on the planet, play i, built on free enterprise and unfortunately, though, we’re not, we don’t teach people in college or whatever to to save in the plan for the featuring warren, buffett thinks differently and I think sometimes, if you’re going in a certain path in life, you kevin need to do a quick adjustment and warren buffett you reading that book. You will learn things that you have not been taught before and then we can work on those those things in in amplifying when you come and meet with me, and then we spend time together now folks will be back after the break, but not before. You have a chance to go to hood cpa, to claim that book website. Hood cpas,. Why are you whispering i, don’t know what that website is cpas? Have you ever found yourself running out of money before the end of the month? Are you saving enough for retirement? Are you getting ahead? Financially tulsa? If you didn’t look at your financial hood, you come to the right place. It’s a look under the hood with tulsa, epa and every way and I’m telling you what, if you want, if you want to make a little extra bacon this year, if you want to get ahead financially, then you want to listen to this show now, if you do want to live in a van down by the river I can help you, and so we are at your office at the riverwalk in beautiful Jenks america. So here’s the strategy, if you do want to live in a van down by the river, if you don’t want to get ahead financially the strategies, one wait for the how to dry up so really that’s actually a false step, one because it’s always drive it’s always. A choice drive just get to bixby over there, where the, where the, where memorial meets the river. What you going to want to do is malaria over there, where it’s at the day that they harvest like gravel from the river bottom or something drive over there and just start driving on the river. You can get down to the river just get onto the river and then drive that thing up. Your drive that thing north work your way west in the north, get over there to the beautiful jenks riverwalk offices. The offices of the drive time show get there and just parked that thing there and then don’t do anything intentionally at all. Just don’t and then over time, you’re going to get a male up a piece of mail. Somehow they’re going to find you, the credit card company will find you with your rabbit I’m telling this is going to happen to the swat team out there. So we can go to find it found you a college campus.

Don’t act like they didn’t find. You know what I’m talking about they found you up to. You knock knock on your window anymore, because the weather has worn out your vehicle and you use easy like when you got the long beard. You look like you’re, like that. Tom cruise from survivor remembered, is so you’re at you’re out there, and you said:what’s the amazing here’s the deal, sir? Are you office here at the river road? Yes, i, am you want a credit card? Sure next thing you know you walk on over there to qt you walk on over there to the shoe carnival, you walk on over there too cold and you get yourself some consumer debt and then what you do. Is you pay that minimum balance and pretty soon that interest goes up? What was a balance of $1,000 and up to about $1,200, and it just keeps happening it’s growing and growing, and pretty soon you who do not understand the power of compound interest begin to pay compound interest. If you don’t understand compound interest, that’s good for the credit card companies, because now they’re making money you’re working for the man in the man is the high interest credit card. If you understand the power of compound interest, which I know you do, then you would understand. Albert einstein’s at the compound interest is in fact the 8th wonder of the world, I repeat:albert, einstein, legendary, brilliant man, scientist, okay, businesses. He said compound interest is the 8th wonder of the world so step one. You sent those specific goals for your financial future of your faith. Your family, your finances, fitness your friendship in your phone. What’s up to now, you going to make it like a specific weekly goal, so what you have to do is you got to meet with the guy like paul hood, you got to figure out a weekly strategy. It’s not going to happen like a day. I saw a yearly strategy. It’s not a decade-long stretchy, probably going to meet with you. They got to set up some kind of automatic weekly savings or some kind of walk us through the importance of having a weekly, automated saving strategy. Well, that’s one of the primary things we we preach to people and in really I’m almost legislated to do that. Now the department of labor in their wisdom, came out a couple years ago and made me a fiduciary and i. Don’t know if you know what a fiduciary is clay or not I’m sure you probably do it just means. I have extra responsibility to make sure people are going in the right direction and one of the things that that the easiest thing to do is you. You set an automatic savings plan, i, don’t care if your business owner I don’t care. If you’re an employee, you need to live on less than what you make and there’s there’s some psychology that goes along with that. Pretty quick. Actually, because you are the man. I’ve discovered that congress, mainly the people that I work with you.

The people at the white house, so we don’t actually need to balance their checkbooks at all. Actually we just spend more than we have in it doesn’t matter whether you are republican or democrat. This is something we believe it is when two people can agree on what they should buy, then we buy both win. This is a guy just wanted to make sure you had an update from the government and then a little tip for all the folks at home that, if you ever run low on your money, just threaten to shut everything down and it when people don’t want to shut it down, just hit the print button and you can just print and print and prejudice print, all the money that you want because you’re the government, oh i, forgot the average consumer can’t do that. Do, you know if we could, that that might be an amazing task set it and forget it, and some psychology there that I have yet to have play I’ve. Yet to have anybody come to me that we set them up on these plans. That actually said, oh, my gosh I I can’t afford it. I can’t miss it. If you end up spending what you make most people spend with him a quitter you in a business or an individual, and if you save you pay yourself. First hangover ever get that check come on out, then you won’t miss it and it builds up sister. This is what I want to make sure you put this on the show:notes one paul used to big word, fiduciary and I’m from the greek word, meaning fiduciary means he’s balding trust, especially with regard to the best business coach relationship between the trustee and the beneficiary. That was one big epiphany want to break that. Second, big idea and forget you automate your savings work. If I’m a business coach I tell business owners all the time, do the fortune 500 companies, the biggest companies that world they spend on marketing, doo head and it’s 11%, okay, michael levine, one of our mentors of the drivetime show.Com is a pr consulting for nike store prince for pizza hut for the clintons for the bushes. He explains in great detail that the average fortune 500 company spends 11% of their gross revenue and marketing. Some always preaching by client spent 11% of marketing by ads will I have a working, mostly word-of-mouth, yeah. That’s why coca-cola quit advertising right, we’re busted, word-of-mouth yeah! That’s why mcdonald’s doesn’t advertise. Remember that commercial, but they don’t run anymore. Your marketing automated just set it and forget it 11% now with it now, with with with your savings people, don’t get excited about that part. I thought I sent him home, skillet dude, dunamis, optimus prime work at me.

Bro sir thomas pay attention here, save at least 3% of what you make automated step 1 step 2, don’t die don’t. He’s, just look both ways when we know you go out there. You want to just look both ways or can write this down. This is good, stop drop and roll. If you discover your on fire, if you’re on fire stop drop and roll third stay away from gang related activity for anybody named to lou, who knows a guy who wants to meet you in a downtown back alley, say no! You have no savings. You there’s no other way. It’s not going to work your knock! It right a check every week, I know you and I know that you’re not going to do it. I tell I’ve been doing this for over a decade working with thousands of clients. Every single client that I work with who is successful has automated their savings. I can’t think of any even one outlier, not even one, thousands of millionaires billionaires the founder of skyy vodka I’ve met the founder of hobby lobby I have never single person who’s, not automated their savings and I know of no other, no other account in tulsa other than paul hood. With hood cpas, who has my complete a hundred percent endorsement. I’ve met client that work with paul for over a decade and they all sing the praises part. Somebody wants to automate their best business coach type savings today. How did what’s the first step, how to get an appointment with you, holly automator, save it we sit down. We got to figure out which direction they want to go in life, and we set up. We just set up a simple brokerage account or investment account savings account, and then we draft that if we show me we hit that account draft at once a month and it goes in automatically and and play. You would not believe to the person 100% of people that comes back to me 12 months, 18 months, 24 months, I can’t believe how fast this is going. I can’t believe that people can’t find the time to do this because they’re not that our listeners but I got to watch the, voice and miss survivor that came out. It’s amazing, the other super bowl I got to watch all the highlights of the super bowl.

There’s a picture of a cat on facebook and I got to plan my trip. Your foot look like planning your trip weeks, planning your wedding you’re, not going to spit an hour one. How to make your savings come on. Man just go to hood cpas. Com! It’s a 1 hour meeting when you eat for 1 hour. What do you give him? Well, i, give him a copy of warren buffett’s snowball book and I’ll promise. I won’t be there, so be a nice environment recall turn the tv on to whatever they want to listen to or watch but play it’s really good. That meeting is not about me. It’s it’s not about you! It’s about that person that client. What are they want to because little you said it. Most people spend more time planning their vacation, then planning their life playing their financial security. You have to have more than one source of revenue for 1 hour meeting with you, and it fixes it sticks is so many things start the process because he’s like people think they have to be motivated and then inspired to create action. We try to teach them know. Let’s just take baby steps, it’s create action, and once we start that snowball going the baby steps, then then you’re going to get motivated you’re going to get excited. So, let’s start with action. First, just make the appointment. Go. Buy website, hood, cps.Com cps.Com, go to hood cpas., clean, a claim. Your copy of warren buffett’s book snowball claim your free copy of warren buffett’s book snowball, i, heard cps.Com and schedule a one-hour best business coach consultation with paul hood I promise. It will change your financial future. Is your accountant, proactive or reactive? What was the last time you were accountant said we need to meet automate your savings. Never what was the last time your account and was able to crack a joke. Never was the last time that you were accountant met with you in a way that let you know that he was mentally and physically present. I. Don’t remember that at all, change your life only takes just a moment. Next week we are so excited to have another show another another. Addition of a look under the hood with paul hood will see you next week. Does things on now the heck

Feedback

Let us know what's going on.

Have a Business Question?

Ask our mentors anything.

Reserve Your Seat

Attend the world's best business workshop

  • Credit cards accepted

Get More Info

Learn more about the world's best business workshop

Get Started

Your first month is ONLY $1!

Get Started

Schedule your FREE 60 minute coaching session

Don't miss out

Watch the rest of this video and get access to thousands of other online trainings by signing up for an account. Get Business School for $1 Go Back Home Browse More Videos

Get Your FREE eBook

Get Your FREE BOOM eBook

You will be redirected to your dashboard in a moment.