Ever wondered what kind of pandemonium ensues when the sky decides to make it rain cold, hard cash directly over your home? Join me, Michael Kane, as I whisk you through a fantastical journey that tickles your imagination and probes the depths of your wildest dreams right in your own backyard. It’s Memorial Day weekend, the perfect time for a bit of reverie amidst our remembrance. Picture this: you, your loved ones, and the frenzied rush to gather an unforeseen bounty from the heavens with nothing but buckets and bags—a modern-day Gold Rush narrative spun with a twist of humor and a dash of reality.
As the laughter subsides and the last bill flutters to the ground, we're left to confront the implications of this miraculous event. Through a blend of storytelling and contemplation, I'll be your guide in this episode on grappling with sudden riches and the subsequent shifts in values and behaviors that might emerge. We'll track a family's year-long adventure with newfound wealth, navigating the treacherous waters of planning, unity, and the temptations to spend or save. So pull up a chair, and let's have a conversation that promises to be as enlightening as it is entertaining—a true exploration of the human spirit caught in the eye of an extraordinary, albeit hypothetical, financial storm.
Ever wondered what kind of pandemonium ensues when the sky decides to make it rain cold, hard cash directly over your home? Join me, Michael Kane, as I whisk you through a fantastical journey that tickles your imagination and probes the depths of your wildest dreams right in your own backyard. It’s Memorial Day weekend, the perfect time for a bit of reverie amidst our remembrance. Picture this: you, your loved ones, and the frenzied rush to gather an unforeseen bounty from the heavens with nothing but buckets and bags—a modern-day Gold Rush narrative spun with a twist of humor and a dash of reality.
As the laughter subsides and the last bill flutters to the ground, we're left to confront the implications of this miraculous event. Through a blend of storytelling and contemplation, I'll be your guide in this episode on grappling with sudden riches and the subsequent shifts in values and behaviors that might emerge. We'll track a family's year-long adventure with newfound wealth, navigating the treacherous waters of planning, unity, and the temptations to spend or save. So pull up a chair, and let's have a conversation that promises to be as enlightening as it is entertaining—a true exploration of the human spirit caught in the eye of an extraordinary, albeit hypothetical, financial storm.
This is Living your Success 24-7 with Michael Caine. Hey-ho, hope you're doing well on this Memorial Day weekend, a three-day weekend for many people. If it's not, you well, you'll have another day off for sure. Day off for sure. Well, continuing moving forward with hoping to help someone out there that is looking for some advice, looking for some guidance, looking for some cheerleading. And I'm here, I'm your guy. I'm your guy for sure. Rah, rah, rah. You can do it. You can do it, rah, rah, rah. So anyway to the point.
Speaker 1:
I like sun, shiny blue sky, no clouds, but sometimes you know that ain't gonna work. It's got to rain. It's got to rain. From the sky comes what? It's raining money. That's the topic of today's show. Raining money, that's right. Spoiler alert. Spoiler alert Raining money, not rain, rain water.
Speaker 1:
It's raining money, rain and money. So what if the sky above your household began raining, not just any rain. This particular rain had a peculiar familiarity about it. This rain was mostly green. You know what that is. I already gave it away as it fell. You realize what it was hard cold cash. It was right.
Speaker 1:
So let's say, you go outside in your backyard and it's just raining on your household. There's money from the sky. I know you're saying well, that's impossible. Okay, stay with me, you have an opportunity to make my case. Oh, that's right. Your dream came true. That's right, isn't your dream? It's my dream. All the money you ever asked for in your entire life is raining on you. No other house, just you, just you, and you and your family run to get buckets, whatever can hold this cash. Trash bags 33 gallon, of course, the big ones, 55 gallon Bags, buckets getting rakes. They're raking that money off the ground, even pulling out the vacuum cleaner if you have to, wouldn't you? I know I would Not. $1 would escape my yard. Okay, remember, like the 49ers, not the sports team, but during the California Gold Rush. Well, you're staking this mine, right, you're not giving it up.
Speaker 1:
And so, a few hours later, the green, green, cold, hard cash money rain suddenly stops, to your dismay. You're oh my God, you're sad. Now the flow of money from the heavens has stopped. Needless to say, you call out sick. For the next day and the next few days, as your family continues to count the spoils of that money. Rain when you call out sick. Oh yeah, you count that money right. You need to count that money. Oh yeah, you count that money. Right, you need to count that money.
Speaker 1:
So you didn't even question well, why did this happen? Why did the previous days? What was up with that rain? What happened? You know? You just writing it off, it's a miracle, okay. But I would think you would be thinking well, why did it just rain on my house? Why did it just come to us? So you qualify this event as either profound luck, which personally I don't totally believe in, or blessing. Now there you go. There you go. Blessings, blessings from heaven. I bet you everybody believed in God. Then, huh, believed in heaven.
Speaker 1:
The money started coming down, only on their house. All of a sudden. You're a believer, right, some people would spin it and say the other guy is helping them. You never know. You always know I don't know, but the accounting comes to an end. You calculate whatever it is, whatever that may be. Now you have the arduous tasks of planning what to do with it, to do with that money? What should we do? So you go around in a circle brainstorming all the ideas with your family and just can't come to agreement. Just say, well, okay, we're just going to hold on to it.
Speaker 1:
So one year goes by, stay with me. Now I know you're saying you would have spent that money right away. Stay with me. And still the tons of money remains stored in that backyard. Where else are you going to keep all that money, tons of it? Right? Take it to the bank. They'll definitely think you're a drug dealer at that point, or something Terrorist, I don't know.
Speaker 1:
So more years go by and then one day the family, your family, decides to check on the money. Several years go by, let's say four, five, six, seven, whatever Immaterial to the story. But years go by. So, to your chagrin, to your disappointment, to your shock, half the money's gone. What the heck. And you know for a fact nobody's been there and take the money or took the money.
Speaker 1:
Okay, we got to look that one up. It just disappeared Just as it rained, without any known reason. It disappeared for any number of unknown reasons, but in doing so you found a set of instructions. You may have just missed when it was raining and you were putting it in there, storing it. There was a set of instructions regarding the money. You didn't see this, everyone did not see this. You're just shocked.
Speaker 1:
So the instructions come in two parts part A, part B. So part A says it instructs the family to give away 50% of the money to charity and to help others in great need. Uh-oh, did you guys do that? No, you didn't do that. Part B says it states to invest it within 30 days of receiving it. Did you do that? No, did they do that? No, they didn't invest it.
Speaker 1:
So they cry and cry and cry on the devastating news that they only have half of the money. My gosh blew it. Helping other people would have been good, wouldn't it? But anyway, I don't know why you would need instructions to tell you to do that. But some people do. So the family begins to invest it as instructed Well, not instructed. They're late. They were supposed to do it within 30 days, so they're several years late. But they start to do it after reading the instructions. They start to do it, start to invest, and so all is not loss, of course, but with the 50% left of the proceeds, this mythical family soon found out that the money for all those years has lost 50% of its original value, leaving what More or less about a quarter left of the original amount. Yeah Well, didn't they learn an inflation lesson? So, hoarding it, what did that do? Didn't do a thing and half of it is gone already and the other is devalued.
Speaker 1:
So definitely a takeaway here is when you're not generous, you don't have to give away all your money. You're not legally obligated to do that. But we're talking about a moral sense, a spiritual sense, just a basic human level sense. When you have more money than you can possibly spend in 20 lifetimes, it would be nice, wouldn't it? Pay it forward and learn a harsh economic lesson about the value, the time value of money, right? Okay, money's gone, the money you have is not worth what it was. Sound familiar.
Speaker 1:
And then there's opportunity cost by not investing, right, you lose those future gains and appreciation and income maybe dividend income by not investing. So you lose that. To opportunity costs about some real estate invest in this, invest in that. Maybe made it to create a casino, I don't know, I don't know. A fortune could have been multiplied 100 times over after half a dozen years, right? So the moral of the story is don't look a gift horse in the mouth. Have you heard that? That's old time I dated myself.
Speaker 1:
But not to waste time or be selfish or greedy whatever you want to call it and justify it. So to do the to do's. I like to do a to do list, justify it. So the to-dos I like to do a to-do list. See, that keeps you sharp. I know it's not technology here I'm using a to-do list. Well, I like to do it on paper, but using it in Outlook or email or whatever text, that's fine, whatever, whatever.
Speaker 1:
When you find yourself earning a living, you have a job, or you're in business for yourself earning money, the takeaway is to plan, plan, plan, establish a plan of action on what to do, where to do, how to do where that money should go Instead of just hoarding it. There's two multiple here's the two extremes either spending it all or hoarding it all. Either way, you're screwed. But you don't know. You're screwed until later, right, until you realize oh, wasn't that a bad mistake? Wasn't that a mistake? I said bad mistake, so that's a very mistake, very bad. It was a very bad mistake.
Speaker 1:
Okay, and putting that money to work, building wealth, right, and your plan? You want to move that money, building your wealth, multiplying that money and in case bring this home here 401k, 457, whatever Roth IRA, roth, 401k, sep IRA, traditional IRAs, using all those accounts for individual stocks or real estate or ETFs or index funds, gold, silver, whatever your vehicle of choice, your diversification, your allocations, but instead of hoarding it where you're losing value but what Time? So don't waste time, time that you can't get back. Have a timeline for saving and investing and a pathway to get there, obviously sooner versus later. Now this mythical family here is investing, moving the money years later after it devalued and they lost money. By any measure. They lose the impact of compounding returns interest income multiply money and then earnings and money, earnings on top of earnings and money. It multiplies over time.
Speaker 1:
Time is your greatest weapon, and so this story signifies what you do when you don't have a plan to move your money. To call it out, it would be even good if you just put the money where it's earning money in a low rate. Now we're doing a post pandemic, you know, four or five percent, but that's not going to be forever. At least you're earning that versus nothing, right, and at least you're looking at a broader picture in terms of your own, you and your family's well-being. So so, investing sooner versus later, a plan of action on what to do, and you can't change your mind by the way of your investments.
Speaker 1:
People do it all the time and then making a difference in the world. I know it sounds like a beauty contest saving the trees, the wells and the world, but there's some merit in that. The trees, the wells and the world, but there's some merit in that. And just think if you had $5 billion, $1 billion, $100 million, $20 million, $5 million, whatever it is, I believe my opinion, although you're not legally obligated to help anyone, I believe we're charged with that responsibility at some level. It's a moral argument for it. But no harm, no foul. If you want to keep it, hoard it and throw it in a grave with them, so be it. But making a difference, paying it forward. You know there's worthy causes out there and there's people worthy of assistance Small business owners looking for. Maybe they can't get a loan or investment from a bank or private equity or something you know to step in and fill that void. That's what I think.
Speaker 1:
And I do want to plug a brilliant man in this book the Psychology of Money, morgan Lussel Hauser. So Psychology of Money man. It's a good book, good book, your money Bible, anyway, lessons on Wealth, greed and Happiness. I encourage you to get it. I'm not getting any kickbacks promoting it or anything like that, but anyway. So, if it ever rains on your house in your neck of the woods, now you know what you did not know before and what you need to do, and I don't have all the answers, but I do know one thing Move that money. Move that money. There could be a subtitle of this podcast Move your money, whereas earning something is doing good for yourself, your family, and wouldn't that be nice if you got there and everyone's screaming, oh, the money's coming from the sky. That would be nice.
Speaker 1:
And so thank you for listening to that mythical tale of raining money, and so you can never see money the same way again. And so, anyway, I hope all of you are prosperous, all my listeners, wherever you may be. I hope you're healthy, and I'm going to be doing a podcast. My next one is I'm going to be dealing with health. Okay, I won't spoil it, no spoiler alert on this one, but the next one will be about health.
Speaker 1:
This is my 99th podcast. Ooh, wow, 99. It's been a long time. Yeah, I can believe this is the 99th. I have to break 100. Anyway, but thank you for being loyal, listening to me. Anyway, but thank you for being loyal listening to me. Please continue to listen and notifications on whatever platform. You're hearing me I'm on my website, livingyoursuccesscom, or also on iHeart, apple, spotify, google, amazon. So, wherever you hear me, please share with family and friends, and I hope you get something out of this, this podcast, where it can help change your life. Hopefully.
Speaker 1:
My goal is to help people. That's it. What is your goal, michael Caine? To help other people. Pay it forward, pay it backward, pay it wherever, uh, where people need to uh feel that, uh, that there is hope. There really is, and not just to placate you. But, um, things may not always be sunshiny and roses and whatever sunshine, and you may not see that light at the end of the tunnel. But just keep in mind life is a roller coaster. I've been on the deepest lows and the highest of highs and things will happen.
Speaker 1:
But the thing is is not to give up, not to quit, and there's excellent podcasts and shows out there and books and that you can refer to that can help give you a pick me up to say, hey, stay in the fight. You got to stay in the fight. You got to realize that you have value. You got to realize that you have value and we all make mistakes we oh my God, I can't count how many I made we all make them. So anyone says that their stuff don't stink. Don't believe it. Don't believe that lie, because everybody has problems and issues. If you live long enough, you're going to have a problem, you're going to have a thousand of, but it's how you deal with it. So do you be you. Don't give that up, because there's only one. You. You're an original, so don't copy anybody. Copy anybody. So okay. So until next time, my friends. I wish you the very best and keep looking for the skies right, shoot for the moon, as they say. I just said it. Okay, until next time, my friends. Adios.
