Randy Carver | Ultimate Vacation: The Definitive Guide to Living Well Today and Retiring Well Tomorrow with the Founder of the #1 Most-Awarded Independent Financial Services Firm in the Country

Show Notes

Randy Carver, the founder of the #1 most-awarded independent financial services firm in the country shares why success is simple and it’s not easy, the 5 easy steps to become an effective budgeter, why you must relentlessly seek out practical knowledge, and why persistence is the game-changer. 

Today’s show we are interviewing the president and founder of the #1 most-awarded independent financial services firm in the country. He’s spent 30+ years as a top advisor (named by Barron’s, Forbes, and Financial Times), and his firm manages over $1.5 billion in assets annually. Ladies and gentlemen get yourself psychology prepared to enter into the financial dojo of MoJO with Randy Carver!

FUN FACT:

Save $3 per day at age 21, you would have $500,000 at age 65.

Save $7 per day at age 21, you would have $1,000,000 at age 65.

Non Hodgkin’s Lymphoma – 12 Minutes – 13:30 – 15:00 minutes – Pull for the intro

27 Minutes – We all have ______ minutes in a day

37 minutes – you have to do what most people won’t to get what most people don’t

Visit the following website to learn more about Randy Carver – https://carverfinancialservices.com/v2/meet-the-team/randy-carver/ 

Buy Randy’s newest book – Ultimate Vacation: The Definitive Guide to Living Well Today and Retiring Well Tomorrow – https://www.amazon.com/Ultimate-Vacation-Definitive-Retiring-Tomorrow-ebook/dp/B0816QVZHV/ref=sr_1_1?keywords=Randy+Carver&qid=1580252097&s=books&sr=1-1 

1. Yes, yes, yes and yes! Thrivetime Nation on today’s show we are interviewing the president and founder of the #1 most-awarded independent financial services firm in the country. He’s spent 30+ years as a top advisor (named by Barron’s, Forbes, and Financial Times), and his firm manages over $1.5 billion in assets annually. Ladies and gentlemen get yourself psychology prepared to enter into the financial dojo of MoJO with Randy Carver! Randy, welcome onto The Thrivetime Show…how are you sir??!
2. Randy, you are the best-selling author of the new book, Ultimate Vacation,…what inspired you to write this book?
   1. We have gotten to help thousands of people over the last 30 years.
   2. I wanted to expand from our office out to more people which is why we wrote the book.
3. Randy Carver in your book you share that since 2014, online searches for the F.I.R.E. method of saving has increased by 94% — but for most people, it’s absolutely NOT a viable retirement method….randy what is the F.I.R.E. method of saving?
   1. It is a movement
   2. Financial Independence Retire Early
   3. You save aggressively in your 20’s and your 30’s and retire early
   4. The issue is it is almost mathematically impossible so the movement is evolving. 
   5. It is more about having freedom to pursue dreams and ambitions and less about retiring early.
   6. You are deemed to be financially independent when your net worth is 25x your yearly expenses
      1. If your yearly expenses is $45,000 you would need $1,000,000 to retire early.
         1. In reality you would need 40x the amount 
         2. This is not a great option because you would have to live so fruguraly
4. Randy Carver, share why the the math simply doesn’t make sense for the F.I.R.E. method?
   1. You really need 25X?
   2. You would just have to be switching jobs or live so far beneath your means. Your quality of life would reduce greatly.
5. Randy, I would love for you to share with our listeners your 5 easy steps to become an effective budgeter and still live well.
   1. Ask yourself “What does it cost to live and live the way I want to live?”
   2. You have to be honest – What do you spend?
      1. Open a seperate checking account and for a year spend only out of that account.
   3. Don’t overcomplicate this
   4. Separate needs from wants
      1. Needs – Rent, Mortgage, Foot
      2. Wants – Vacation
      3. Waiting makes a huge difference. Anything is better than nothing.
         1. If you save $100 per month starting at age 21 you would have $500,000 at age 65. 
         2. If you save $200 per month starting at age 21 you would have over $1,000,000 at age 65
   5. Build a buffer
      1. Short term and long term savings are different.
      2. You should set up a 6 month buffer incase anything crazy happens
      3. Find out how much you WANT to save
      4. Find out how much you CAN save
6. Randy Carver, what role should your personal vision play in planning for retirement?
7. Why do so many people find retirement planning to be overwhelming?
8. Is there a system that allows you to maintain and advance your standard of living while saving for a dream retirement? 
9. I know that you’ve had a ton of success at this point in your career, but I would love to start off at the bottom and the very beginning of your career. What was your life like growing up and where did you grow up?
   1. When I was young I found out that I was misdiagnosed when I was young after I had already had the wrong treatment.
   2. In 1989 I was in a plane crash and lost my voice for a year. There is always a lesson to be learned.
   3. One of the ways I paid for college is by investing. I got told that I should teach how to invest.
   4. I found that I needed to build a vision firm on how to enjoy life.
   5. People don’t save to save. They save because they want to do something.
   6. In 1990 I started with Carver Financial Services with the goal to make people’s life better.
   7. You have to find what your vision is. Once you find it, you can focus on it.
   8. There are 3 things we need to be successful in anything:
      1. It takes Knowledge
         1. What are you going to do?
            1. Talk to someone who has done it.
      2. The Discipline to do it
         1. It’s not easy to do it. 
      3. Persistence 
         1. Some of the most successful people had some of the hardest adversity. 
10. How important is a personal vision?
    1. People don’t plan for retirement because it’s way far away.
    2. The problem with investing is that people look at the investments first. You have to look at the goal and then choose your vehicle.
    3. Figure out what your vision is for next week, next year, and for the future.
    4. Once you know where you are going, you can then focus your efforts on getting there.
11. Randy Carver What does it feel like to manage 1.5 Billion Dollars in assets?
    1. When you know how to do it and what is at the other end, you have confidence. I see it as a privilege and as a responsibility.
12. When did you first feel like you were truly beginning to gain traction with your career?
13. When you were at the bottom, what did you learn most from this experience?
14. How, you come across as a very proactive person…so how do you typically organize the first four hours of your and what time do you typically wake up?
    1. I get up at 5:00 am and am in the gym at 5:30 am
    2. From 7:00 am – 8:30 am is my creative time
    3. I don’t look at my email until I am finished with my META time.
15. What are a few of your daily habits that you believe have allowed you to achieve success?
16. What mentor has made the biggest impact on your career thus far?
    1. Successful people always have a support system of some sort. The only way to leverage your time is using your team. One of the biggest challenges is finding people who actually support what you’re doing. It’s not necessarily people who agree with you. If people are just telling you how great you are, you will never go anywhere.
    2. Tony Green
    3. Tony Perry
    4. Richard Branson
    5. Elon Musk
17. We find that most successful entrepreneurs tend to have idiosyncrasies that are actually their super powers…what idiosyncrasy do you have?
    1. I have ADD
    2. I like to do multiple things but do one at a time. My attention span is like a 2 year old on crack. I’ve got my list. I know what I have to do today.
18. What message or principle that you wish you could teach everyone?
19. What are a couple of books that you believe that all of our listeners should read?
    1. Extreme Ownership – Jocko Willink
    2. Outliers – Malcolm Gladwell
    3. The Road Less Stupid – Keith J. Cunningham
    4. Principles – Ray Dalio

Action Items – 

1. Pick something. Go with it.
   1. You have to do what others are not going to do to have what others don’t have.