How to Make More Money to Do More Good


Clint Murphy Derrick Kinney


Derrick Kinney, Clint Murphy

Clint Murphy  00:15

Welcome to The Growth Guide podcast. I’m your host, Clint Murphy. Every week I talk to authors, subject matter experts and millionaire mentors to share the lessons that will help you and me be better, achieve more and become financially free.

Clint Murphy  00:36

Today, I had a conversation with Derrick Kinney, CEO of Good Money Framework and host of the popular Good Money Podcast. Derrick is recognized by Forbes as one of the nation’s top financial advisors, and he’s coached 1000s of clients to financial success. We talk about his book, Good Money Revolution, How to Make More Money to Do More Good. And he teaches us to make more money, live the life we deserve, and change the world too. Enjoy our conversation.

Clint Murphy  01:16

Derrick, welcome to the podcast this morning. Where I’d love to start is for our listeners who don’t know you. Can you tell us a bit about yourself?

Derrick Kinney  01:24

Clint, it’s great to be with you today. Thanks for having me. Well, long story short, most recently, I had a financial planning practice for about 25 years and built it from scratch and was told along the way you’re going to fail, it’s not going to work, you’re not smart enough, good enough, all the things that, you know, it’s that classic entrepreneurial story that people kick sand in your face, not even meaning to do it all the time. But it does cause quite a bit of resilience. And so having built a practice and deciding to go a different path, I reached a point where I really wanted to go bigger, I wanted to take this good money message to the world. And so I decided to sell my practice. That actually was finalized in January of 2020, just before COVID, who would have guessed, and since then have launched, really I’m not retiring. I’m rewiring, as I like to say and have written a book, launched a podcast and now going really full bore into helping independent advisors who really want to build the practice they want and experience freedom and meaning by incorporating generosity into their practice. That’s what helped me build mine and really stand out. And so I love what I’m doing right now. And you know that feeling when you help a lot of people get what they want, you’re able to do what you want as well.

Clint Murphy  02:43

And so how was that pivot from running your practice to doing what you’re doing today? How does that feel? And what is that change for you in your day to day life and how you approach it?

Derrick Kinney  02:57

It’s been a big pivot, you know, it’s interesting, when I would help clients retire, I would often walk them through the emotional adjustment, you know, where let’s say it was a man or a woman who had a business card, they had a title, and when they retire, it’s sort of like they’re wiping that title off their business card, their identity sort of vanishes overnight, and they don’t know what to do with that. People ask what do you do for a living? Well, I’m retired and they know inside, they’re more than that. They’re not just in this category of finished up and done with life. And part of my transition was like that as well. You know, when I sold my practice, my mantra throughout the whole process was to my clients, I’m not handing you off, I’m handing you up. It was very, very important for me to communicate that to clients that I wasn’t just leaving them and bailing. And moving on to the next thing. These were relationships, these were friendships, these were experiences and, and a lot of life lived together, a lot of mess, walked through with them. And just walking away from that seems so so hard to do. And so what I did is I called each one of them individually. That was my commitment to myself and to them and there was hundreds of clients that I called and at first it was so painful. But I called 30 people a day. And I was just physically and mentally exhausted every day because saying goodbye was like pressing a button every time you called one of your clients and you replayed all the experiences and all the ups and the downs and the joys. And I remember when I finished, it took a month and a half to cull through all the clients. I literally broke down and wept. It was like this emotional dam burst. And I just felt every emotion and every just every weight that the clients had given to me because some of them were happy for me. Some of them in their heart were truly happy, Clint, they were there. It’s nice to see you practicing what you’ve helped us do for so many years. Some of them actually were mad. A few people got upset. They said, Derrick, why are you doing this to us? We want to retire, we want you to help us retire. And I didn’t know what to do with that. But I knew it wasn’t out of anger, it was just out of it was just out of the friendship and the appreciation that we had for each other. But I think one lady summarized at the best she said, Derrick, in real honestly, real calm, don’t use a Derrick if you’re going to have a midlife crisis, just buy a Corvette, it’s a whole lot cheaper.

Clint Murphy  05:27

But the benefit is, you’re practicing what you preach to them. And what I say for what I want to do in life is help as many people as possible, be better, achieve more and become financially free. And that’s what you were doing was but helping them become financially free. And then you demonstrated that yourself by saying, hey, I’m financially free, I can choose a different lifestyle, and I’m gonna pivot to this then and still help more people do it by writing about it, podcasting and sharing the knowledge that you have, on an even larger scale.

Derrick Kinney  06:06

You know, it’s interesting, you say that, because one of the things I learned through this process was the art of the goodbye. And what I mean by that as I when we moved to Arlington, Texas in 1980, my parents found a dentist and so we went to that dentist until, you know, I was oh my gosh, probably 30 years old. And so this was like a long term professional relationship. And the dentist I had his name was Dr. Hilton. And it quickly transitioned from just being a dentist patient relationship to we would talk about investments and talk about life. And I was the one person I found out that actually enjoyed going to the dentist. And its because there was so much more to the story. Uh, one day, I’m in the dentist’s chair and he says, Derrick, by the way, this will be the last time I see you. And I was stunned. I was shocked. I said, What do you mean? He said, well, I’ve decided to sell the practice. So there’ll be another dentist that you’ll see next time. And I thought for a moment, what the heck, we’ve been together for 30 years and this is how you say goodbye. Well, I got a letter in the mail about a week later, it was kind of a form letter, you know, dear patient, etc, etc. And I thought, man, when I ever sell my practice, I will not have anyone feel like I have felt in the chair that day, I felt like I sort of got kicked to the curb. Not that that was his intention at all. But it just wasn’t handled well. There was no transition. And also, I’ll share a story with you. Somebody told me this that has really helped me. You know, let’s say that, Clint, some friends of yours went on vacation, and they asked you to house it and they had a cat. While the very first day they left, that cat died. And you’re like, oh my gosh, like you’d ruin their trip. And so there’s this progression of letting them know, hey, by the way, how’s your trip going? Hey, you know, I haven’t seen the cat in a while but I’m sure he’ll show up. Then the next day, hey, how’s your trip going? Hey, you know, something happened to the cat? I think he’s going to be okay. And the third day, hey, how’s your trip go? Hey, by the way, I have really bad news. The cat passed away. Well, the point of that whole story is you can lead your clients through a transition of your transformation where it’s not just hey, great to see you, by the way, I’m leaving tomorrow. And what I decided to do was over that couple week period, call them personally, let them know the story, call them back if they had questions. Because that professional relationship, unlike a typical sales, relationship is not just I sell a product and a service and if I leave, the next person comes in, I’m not selling used cars here. We’re actually in the transaction of life. And when there’s life and personalities and hardships and highs and lows and marriages, and divorces, and graduations, and all these things, and successes and retirements, that’s a lot of life that you have inserted in and people have openly given you their trust, and invited you into their vulnerability house. If you just shut that door and run, I just think it leaves a poor taste in their mouth, not just for you, but also for the person who buys the practice. Because if you have a part of your agreement, and you have this clawback. In other words, where the whole agreement is based on a certain percentage staying with a new person, it could actually cost you financially because some people say look at Derrick’s gonna treat me like that I don’t really want to look at the next person, which unfortunately, doesn’t give the next person that opportunity to win their trust. And it can cost you financially not just personally,

Clint Murphy  09:36

Yeah, it’s definitely a downside of doing it the wrong way and making sure that you hand off that relationship. And so what we’re going to talk about today is what you taught them but on a larger scale, which is your book, Good Money Revolution. Where I’d love to start that with you is a saying that you love is “Remember when you wished for everything you have now”, which is a great one, because that’s often our constant craving for more is something we don’t have that causes our suffering, and also causes a bit of financial ruin with credit cards and debt. Which brings me to your statement, “the key to your success is having a daily passion that fuels you to connect your cash to a cause.  Your money to a movement. Your profits to a purpose”. Can you share what you mean by that, Derrick.

Derrick Kinney  10:32

Yeah, so let me go back to when I first started my practice, I was 24 years old. And I was stuck in a dead end job at a marketing firm in Fort Worth, Texas. And we had just worked weekends and nights and pushed out this major calendar project. And all of the technology people got bonuses. And I remember hearing people walk in the hallway, one guy said, I’m going to buy a big screen TV and one said I’m going to back in the day, I was going to put a satellite dish on his house, or he was going to put a down payment on a new car. And so I began to hear this and I got excited. Like, oh my gosh, they’re gonna pass out bonuses, I called my wife and we were excited. Well, I didn’t get a bonus. And nor did one other customer service person in the company. And it really bothered me, really felt personally embarrassing. And I had a decision to make in a moment. And the decision was, do I stay in this company, small 10 person firm, first job out of college and let someone else dictate my economic value to me, based on a twice a year evaluation that’s very subjective, or do I take the chips, the few chips I had right out of college, and I placed them on Derrick. And I bet on that, and that’s what I decided to do. And so I then began to study in the evenings and got all my financial advisor licenses. And began to build my practice. Well, I quickly realized I had another problem. And that was, I was 24 years old, not a shred of gray hair, I look super young, and other advisers have a lot more experience and knowledge and relationships than I did. And so the challenge I had was, do I compete with them based on the products and services available and just go head to head? Or was there a better way. And the better way was, was there a problem that I could uniquely solve that other advisors weren’t solving? What I realized was that most successful people, people that had money and people who wanted to save and were successful, they wanted to have their lives less complicated than more complicated. And so I began to explain complex business and money topics in an easy to understand way. And it turns out successful people you would think, want to know every single minute detail, but they don’t. They want to work with someone who knew enough to help them take action, and could be trusted to keep them out of financial trouble. And when I realized that, that changed everything for me. So then I combined solving that problem with, I’d always had a passion for education in my local community. I remember when I graduated Sam Houston High School here in Arlington, back in 1987. I always thought about, wouldn’t it have been nice to have had some professional men and women come back to my economics and business classes and talk about, hey, here’s why you’re doing this homework, here’s how this class will help you in the real world. But nobody ever showed up. Nobody ever came back to our high school. And I said, I want to change that. Because that’s just not right. And so I began to go back to my alma mater. And I began to give a student of the month and a teacher of the month award. So the teacher of the month I gave a $50 amazon gift card. The Student of the Month was a $25, Amazon gift card. It was really nothing. But what I realized was, it was like they won the lottery because they felt seen and appreciated. Well, I will take a picture of myself and the student and the teacher and the principal. And back in the day, we had these things called newspapers, that we would have them printed in. And about a month or so later, I got a phone call. And the phone call was a woman on the other end of the line. She said, Derrick, I saw your picture in the paper giving an award out at Sam Houston High School, we’d like to move our investment account over to you. Well, this shocked me. This completely perplexed me and I said, I don’t know why I said this, but I said why? And she said, look, I know you’re brand new in the business. We’ve been following you and so forth, but you care about what we care about. That’s why we want to work with you. When she said that, that was the lightbulb moment for me. Because I realized that I as a financial advisor was a dime a dozen in my local community. People could work with anybody. We all look the same. But we all did the same thing, at least according to the client. Because I was giving back to a cause they cared about, they wanted to work with me and what happened was that actually significantly revolutionized, my practice because we made giving the center point of our entire practice is a portion of all of our proceeds for the past 25 years has heavily gone to investing back in the lives of young people. So much that at all of our holiday gatherings with clients, we would have the principals of those schools, even sometimes the students come back and talk about, hey, we know you want to make money. And Derrick helps you do that, but by being a part of Derek’s practice, you’re helping be part of a bigger story. And clients love the fact that they could invest their money with anybody. But the fact that their money was helping make the community better and helping make students lives better made it like a moat around our relationships. So when competitors came calling, which they always did for the free, Friday night, steak dinners to talk about retirement or come to this event, they would always bring those to me and say, Derrick, here’s what your competitors are doing. But we want to stay with you because you care about what we care about.

Clint Murphy  15:58

And so that slowly made you realize you came up with a concept that you call the Good Money Framework and generosity is a significant portion of that, which starts with the first step you call it the generosity purpose. So what is the generosity purpose, Derrick? And how do we find our generosity purpose, recognizing everyone’s gonna have their own?

Derrick Kinney  16:24

You know, they are it’s so individual. That’s the beauty of this is, so much of giving these days is sort of jammed down people’s throats and said, you need to believe in this cause or you need to do something around the world. Let me tell you a quick story. A gentleman named Dave came into my office a couple years back, and I could tell just based on his body language, that something was wrong. And he began to tell me a story. He said, Derrick, I’m not feeling as motivated to go to my office anymore. He owned a small business in town. He said, I’m not feeling that sense of purpose I once did. And I’m asking myself, why am I just going through the motions? And I said, Dave, is there a cause that you care deeply about? And I could tell the question stunned him and it equally stunned me, I couldn’t believe I even said that to him. He then began to tell me a story about years earlier, he and his family had gone overseas on a trip. And in this one particular village that he and his family visited, he remembered the guide, telling them that this village is such poverty, because there’s not a school building here. If they had a dedicated school, it would revolutionize this entire community. And he remembered exchanging that glance with his wife as if to say, you know, wouldn’t it be cool to fund that school? Well, they got back to the states and life got busy, business got busy, etc. But my question brought it back. And I said, Dave, what if you did this? What if you set a sales goal? And you said, I’m going to increase my sales by 20% over the next six months, and I’ll take half of that increase in use it to fund that school? Well his eyes got as big as saucers, we began to brainstorm what that could look like and how we could do it. So fast forward. Now, he comes back in the office, not six months later, but three months later, he looks younger, he looks rejuvenated. He looks like he’s back on his A game. And I said, David, it’s night and day, you’re just a different guy. What happened? And he said, Well, I took the idea of the generosity purpose that you and I talked about, and I went back to our clients, and I said, hey, we’ve decided to have a generosity purpose. And we want to fund a school in this particular village, and he mocked up a picture of what the school could look like and put it on the website. Well, his clients got excited because they liked Dave already, they liked his product. But even as competitors would call on those same customers, they wanted to work with Dave even more, because he was entering them into a bigger purpose, a bigger picture, by helping them be part of this school. And so his sales went up. Also, Dave’s team got completely re-motivated. They weren’t just working for Dave anymore, which wasn’t a bad thing. Now they were working for a cause, that the more value they added to people, the more money they made, the more they could reach the goal of that school. But most importantly, Dave himself was transformed, no longer not wanting to go to the office and not wanting to do the work he was doing. Now he had a purpose. And what he realized was when he connected his purpose, to profits and cash to a cause and his money to meaning, it changed everything for him. So he was up 20% In three months, not just six months, but what happened was he began to realize as have countless business owners around the country now, that making money (A) is not bad, but (B) making money doesn’t make you happy, unless there is a cause attached to it. So what he realized was, he could make more money by adding more value to people and then do more good, which wanted him to then make more money to add more value to do more good.  It’s that a revolution I talked about in the book. And so that led him to completely revolutionize how he thought about giving. And now it’s not just about making money by itself, it’s making money as a result of his passion for giving, which leads him to want to make more money to keep doing more good.

Derrick Kinney  16:47

And one of the interesting things is that the purpose that he tied it to didn’t align with what the business was doing. So building the school didn’t necessarily tie to the product he was selling. And so our purpose that we’re finding that we want to build towards, doesn’t need to be intrinsically tied to what we’re doing day to day,

Derrick Kinney  20:44

It doesn’t. And you can approach this a couple ways. In some cases, this might be a cause that you pull your clients or customers about and say, you know, what, we really believe in giving back. And we wanted to ask you, if we were to take a portion of our profits, and give it to a cause that you cared about, what would you suggest we give it to. So you might have, let’s say, your 20, top revenue producing clients giving you feedback on here’s a cause they care about. Now, the reason I say the top 20, or even the top 10, is you want to deepen those relationships with your highest revenue producing clients. And most people will say to you, yes, we love to give or and most people would rather give with other people’s money than their own. And so it’s a great way to have the best of both worlds. But you can also pick a cause that you personally care about. And here’s what I found. There’s two immutable truths that I have found that I don’t think will ever be debunked. And that is, no one ever says, I don’t support better quality education. Nobody will ever say that. And nobody will ever say, I don’t want my kids to have a better life than I did. Nobody will ever say that. And so when you have a cause that supports education, and invests back in the lives of young people, it’s an easy win. And that’s my generosity purpose. I mean, even every Tuesday night, for example, we invite a group of college and young adults to our home, it’s open door, we provide the free food, and we just have great conversation for a couple hours, I just love that age group of people because I love investing in them as part of what I call my people portfolio. It’s the people I choose to invest in consciously, that I have no expectation, I have no direction, there’s no disappointment. It’s simply I want to give them every possible opportunity to succeed. And I think of myself as a belief extractor, a potential extractor. I want to extract every ounce of potential that young people have in them, so that they can not have a lid on their future success. But so when you begin to tie in a cause now, now, let me give you a big caveat on that. Many people will think well, I’m just going to start giving, but they have a terrible product, or their service has a horrible reputation. Giving will not cover up, poor service, poor quality implementation, and a poor team that you’ve got, okay? The beauty of this as you need to provide excellence already, especially in the money game, if you’re a financial advisor listening right now, you want to make sure you have a great system and a structure where you’re communicating well, where you’re bringing people to the office or you’re letting them know that you are watching their money on a regular basis. And in addition to already superlative service, we’re going to now incorporate generosity into this, it makes you almost unbeatable. You know, when we sold the practice, we had a 99% client retention, which is unheard of in the industry. Typically it goes to about 95, maybe even as low as 90, sometimes lower than that. But it was because there was this feeling in this relationship that, hey, you’re not just investing with Derrick, you’re investing for your future, but you’re also helping other people’s futures be better. And there was sort of this feeling of exclusivity with that. Well, I want to work with Derrick because he does more than these other advisors do.

Clint Murphy  20:55

And so in order for the listeners to start having this generosity purpose in their life, the first thing they need to do is get their finances in order. And what that comes down to is planning. What do we want? How are we going to do it, tracking it and so you look at you say, hey, you need to know what your top financial goals are, how much money you want to make and what options you have to make that money. Can you talk about that and setting the listener on the path to having money that they can then use for their generosity purpose.

Derrick Kinney  25:01

You bet and let me debunk something too, there’s often this feeling that you know what I really can’t give, unless I am making money or, or somebody will say, you know, Derrick, once I get that next raise or that promotion, then I will start giving. And here’s a we know, you know, I’ve never built a house, but clients that have built houses have told me that, you know, Derrick, when people lay that foundation, if there’s even a hairline fracture, in that foundation, once the support goes up, and the second floor goes up, and they’re putting weight on the foundation, even the most hairline of fractures, that was where was inconsequential, begins to have a big impact. And the point there is that even when you don’t have money, right now, when you have more of it, you’ll simply become more of who you already are. A massive infusion of money doesn’t suddenly change you and oh, my gosh, I have a lot of money. Now I hit the generosity button and that’s my new default. So here’s what I would encourage you to do, this is going to sound so counterintuitive, but if you feel like right now, Derrick, I just don’t have the money. Just give $1, give $5. And the whole point of that. And let me just press pause for a second and go a little bit deeper on that point. So when you’re giving so many people spend their lives either complaining, or wanting more than what they have right now. And that takes a lot of emotional energy, because they’re focused on themselves, it becomes the me show. But when we can go to the we show is when we’re giving, if I give $1 to somebody, or $5, even for just a few seconds, I have taken the perspective off of my plight and my frustration and my issues. And I’m focused in the moment on somebody else in that moment. And this is the beautiful part of that you are in total control. You get to pick who and where that money goes to. There’s nobody who’s telling you, what do you have to do with that. And that’s a powerful moment that people have. And so I want to encourage people, whether it’s, you know, the the local person at the grocery store, or it’s a college student who they need that next semester of college paid for? Could you help them out with that? Or even somebody in high school that you see the talent, but you see the struggle of their family’s financial situation? Could you buy him a book at the bookstore and just put a note, hey, you know, dear Linda, I think your best days are yet ahead. I’m cheering you on warm regards. You know, Uncle Derrick, you know, that kind of thing, where there’s something placed inside of people where they say, I can do this, and I can be better than where I’m at right now.

Clint Murphy  27:38

And when you look at that, Derek, if someone doesn’t have money, there are different opportunities for them to still be generous. For example, their time, their skills, services, are there different ways that you suggest, hey, if money is the not what you have, here are other ways you can get back?

Derrick Kinney  28:03

Yes, I think there’s definitely you know, for many people, it’s I like to say it’s either time, money or both. And that gives people options. I’ll give you an example on our rotary club. I was the president a couple years ago, and we do what was called a 90 days of service to celebrate our 90 years as a club. And what I realized was that many people think that busy people need to be wowed, and they need to have this grand plan that they can step into. What I realized was is we did a new service project every two weeks, for 90 days. And the point of it was we just wanted to give people doors to walk into and some doors they walked into one, for example was with the Salvation Army. We did a dress for success event where I thought we needed to bring a suits and ties and somebody reminded me Derrick, a lot of people don’t wear suits and ties anymore. Just bring whatever you want to bring. So we’re at the Salvation Army that day. And we’re teaching people some of them how to tie a tie, how to practice for an interview. I remember a gentleman went in the back, came back out with a brand new suit had been donated that he had on the smile on his face. It was just like a Polaroid moment that was clicked in my brain that I’ll never forget. It was simply that we chose to invest and we gave a doorway for people to come in. And they could be part of that. And my point of all that is, even when you go back to setting goals, so many people overcomplicate. I need to have 10 goals and 20 goals, I need to be financially free in one year. Just set three goals. On a note card, on a sticky note, write down my top three goals are 123. But here’s the supercharger that often gets overlooked. Write down: when I achieve these goals. I will feel [insert your emotion]. How will you feel? For example, how much are the stakes right now that if in the next year, when your daughter’s about to go to College if you don’t save $10,000, she won’t go. How much urgency does that instill within you? When my daughter goes to college, and I’ve saved $10,000, I will feel empowered, I will feel emboldened, I will feel confident I will feel like I can conquer the world. The bottom line is when things get hard, life comes at you fast, family fast, business fast, if you don’t have those goals in front of you every day, and here’s how to do that. We know is that psychologists tell us that you have about an 85% higher success rate if you write down the goals, and look at them at least once a day. But the way to really nail the goals is to write them down and put them in three places. First of all on your bathroom mirror, put a piece of tape on the back of that note card, slap it on your bathroom mirror. So every time you’re you’re shaving, you’re brushing your teeth, whatever you’re doing, you look up and you say oh yeah, my top three goals always reminded of them. They’re on my nightstand. Before I go to bed. There’s my top three goals. So I get in my car. There’s my note card, there’s my top three goals. Because if we’re not focused on them all the time, they call it the molding principle. You can dig, dig, dig, and suddenly a pop up and wonder how the heck did I get where I’m at right now. And if you’re not focused on those three goals, you’ll be surprised even within a week or two weeks, you can get radically off track. And so if you write down three goals, and one of those goals is I’m going to commit to being more generous this year. Here’s my cause and whether you work for a company, or for example, let’s say you’re like Debbie, who I met with a couple years ago who came to me and she said, Derrick, I’m feeling overlooked, overworked, underappreciated. She was the administrative assistant at a small engineering firm. And she said, Derrick, I just want to change jobs, I want to make more money. And I said, okay, that may make sense. But before you do that, try something try and experiment. And so we came up with a couple ideas to answer three questions in her current role. What could she do to increase sales? Number two, in her current role, what could she do to reduce expenses? And number three, in her current role, what could she do to help grow the business? Well, that took her eyes off of her own frustration and how she could add value to the company. And one of the ideas that she came up with was her boss always complained about not having time to grow the business and bring in new customers, because he personally saw every single customer himself. So she said, what if I offered to get a license that would allow me then to see some of those clients and basically peel off the lowest revenue producing 25%.  She would take, which would give capacity to her boss, she presented the idea to the boss, and he was like, this is one of the best ideas anybody’s ever presented to me. And his comment was, it’s so nice to have an employee who thinks like an entrepreneur. And that changed everything for her. The other idea that we came up with together was in that company, there was one salesperson that they relied on, to bring in new business. And what we decided to do was pitch the boss on look, empower the entire engineering firm, that if they bring someone that could bring new business to the firm, as an introduction to the salesperson and it pans out, they will get a sizable bonus. Well, suddenly, you had an entire company that became a Salesforce, and the business grew. And what we learned was two things. First of all, every business owner’s favorite radio station is WIIFM, which is what’s in it for me. So don’t bang on the boss’s door demand the raise, they’ll throw you the 4% and tell you to move on. If you want real money, and real value, then you want to be adding value, that’s number two, adding value to the company because when you add value, you become more valued. Within six months, Debbie was making $25,000 more than she was making prior to our visit, because we tied in an incentive that with the customer she met with now, any new business, she got a portion of that her boss just loved the idea she had gave her a raise. And so now she by not going where she thought the grass was greener, decided to pour a little fertilizer on the grass underneath her current feed. And she did very, very well.

Clint Murphy  34:19

And that’s when people talk about financial independence. A lot of people focus on the spending side of it. My goal is always to say, well, number one, how can you earn more, because there’s a limit to how much we can reduce our spending. There’s no limit to how much we can increase our earnings. So what you’re talking about there is a bit more on the increasing the earning side. When it does come to spending, you talk about some ideas that people can use. You say set and forget pay yourself first, capture and keep. What are some of these ways people can use in order to keep the money that they are earning because we tend to just you know it’s not like everyone thinks we need to make it rain all the time and every dollar in has to be $2 out. So what are the ways that people can save the money in their jeans to then use for investing in generosity?

Derrick Kinney  35:20

Well, what I’ll say at the beginning here is the reason I wrote my book Good Money Revolution was it’s a shame free, simple success plan. And the reason I use the words shame free as right now and culture, there’s so many people so many, quote, financial experts that say, you need to stop buying coffee at Starbucks. And if you think about what you save every day, and multiply that by one year, you’ll be financially prosperous. Well, what I find is, my brain doesn’t work that way. If I’m enjoying a nice $5 cup of coffee, oftentimes, I might think of a 5,000 business idea, because I’m enjoying a great cup of coffee. And so you will not hear from me, cut back on your coffee, that’s the way to financial prosperity. It’s going to be the way to live in a dismal life. Even another example I’ll give you, I had to get used to being in my living room, for example, on an occasion when I see the person out mowing my yard. Well, at first I felt kind of guilty while I’m in here doing something while you know he’s mowing my yard. But I’m like, no, I’m paying someone $20 an hour, so that I can focus on $500 an hour ideas. So part of this is just a mental shift that I want people to have. And so when you think about money, first of all, there’s a mentality I want you to have. But here’s how this can help save you money. What I call capture, and keep is one of my favorites. So you can call up what are called your commoditized Expenses Claim. So for example, think about your homeowners insurance, automobile insurance, your cable company, here in Texas, we can choose electricity providers. If there’s any service that you use that you have multiple choices, your cell phone service, for example, you know, all of these are ways where they’re constantly bringing in new customers and losing customers to the competition just on a daily basis, you want to call them up and say, look, I’m considering changing to another competitor, is there any kind of a price break or deal that you can give me to keep me as a customer, what we find is about 90% of the time, they find some way to creatively bundle something, reduce a cost, maybe extend a new customer and discount to you. And so what happens is you save money right off the bat. But here’s the problem. What most people do when they save money, is they redirect it to spend it somewhere else, suddenly they have the new computer or a new car payment, the new truck. And they’ve done nothing except they’ve just simply spun money around. And now it’s in a different place. So to capture and keep, now you’ve done the work, I mean, you’ve done the work to call  and in many cases, this might save you $100 a month, we’ve seen it as high as two to $300 a month. The magic though is to automatically take that amount, let’s say it’s simply $100 a month, you then want to automatically direct that to the highest, most painful debt that you currently have. So for example, when I did this, I would direct it to my house payment. At one point I was paying an extra $300 a month for my house payment that way automatically, the money would come out and go to my house payments. So I captured it. And I kept it. Because the worst thing is to spend all this energy and really it doesn’t help move you forward financially. And one of the things that I would also tell you is this is one of the best ways I’ve learned to grow wealth. And that is especially right now. Now there’s an expression I heard that I’d love to repeat. And that is I have heard there’s a recession coming. But I’ve decided not to participate. And I want to encourage people that you have a choice to make. The news media culture will come at you and say, Llok, there’s a recession coming, your business is going to suffer, you need to really buckle down, spend less money, and it becomes a self fulfilling prophecy. And what we know is money does not just disappear. Money simply flows down different pathways. And so right now you need to be especially nimble, to make sure that you’re in a pathway where the money is flowing to.  How do you do that? Well, when we know that there is a recession coming, which there’s a high likelihood, according to many experts right now, is that there will be new problems. Your clients need solving. And so if you stand behind, even if you weren’t even doing this, for goodness sakes, but if you were owning a problem, which I’m a big fan of is own a problem, and you typically separate yourself completely from your competition. Now you need to own new problems, for example. Now it may be, you know, how do we continue to grow our business? How do we save money? How do we reduce taxes? How do we better prepare for what could be a slowdown, and still save money, all of these things you can help clients with. But if you’re pivoting yourself to be the new problem solver for this new economy, your business will actually even do more. And I’ll tell you a quick story. This was told to me about a year or so ago. So back in the last recession, 2008-2009. In California, the Lexus dealers got together and they recognized that, hey, with the recession coming, they were going to sell less cars. They weren’t going to go out of business, but they knew it would dramatically impact negatively their business. So they put a couple ideas together. And one was they decided to take the cars, if people weren’t going to come to the showroom, they were going to take their luxury cars to where affluent people were so they took him to the art galleries and the tennis courts in the marinas, all these different places where a lot of wealthy people would hang out. And typically, these gatherings, the conversation would go something like this, you know, you’d ask the person hey, what do you do for a living? It’s Oh, I’m a doctor. I’m an attorney. I’m a business owner, whatever, maybe. And eventually, they’d say, well, what do you do for a living? Oh, I’m a Lexus dealer. Oh, really? And they would say, Well, have you ever driven a Lexus before? They would say no, I happen to have one outside? Would you like to take a test drive? Well, as you know, your car was perfectly fine, until you just drove a new Lexus and suddenly now your car doesn’t seem as good. What happened was, their sales actually increased during the recession over times when there wasn’t even a recession. And it was because they got focused on a new strategy to meet people where they were right then. So the problem right now that needs to be solved is, well, many people choose to cower back and just realize, oh, my gosh, it’s coming. We need to just hunker down, or will they boldly go into it? And find new ways to serve the people with new problems.

Clint Murphy  42:23

I love that. So looking at how do I adjust my behavior to capture what’s available? Because there’s still money if I’m willing to look at things differently? That’s a good way to look at it. So we talked about raising our income and pulling the levers there. Can you talk a little bit about side hustles, which some of the listeners may not be aware of as an alternative way to raise our income when we think we’ve capped our earnings that are nine to five?

Derrick Kinney  42:53

Yeah, so one of the things I would tell people is, you know, whenever you hear that something is super easy. Assume it will be more difficult than it sounds. Right now we’re hearing from so many experts on social media on Instagram, on Tik Tok, hey, just get a side hustle. It’s easy money. And I wanted to give you a couple ways to think about a side hustle. First of all, there are some people that want to have their own business, side hustle. There’s other people that just want to make more money, and not worry about having their own business. So the first step is to know which of those pathways are best for you. Let me explain both pathways. First of all, let’s say that you’ve gone to your boss, and I would encourage you to do this first. And don’t just say, well, you know, in some jobs, I will say if you’re a pilot, if you’re a cop, a firefighter, a teacher, you work on the line of General Motors, your income is capped, and it’s solely based on seniority. So you don’t have the same opportunity to negotiate with your boss. How can I add more value? Because it’s a seniority system. Okay. But outside of that, I would encourage you to ask those three questions. How can I increase sales? How can I reduce expenses? And how can I add more value and help grow this business? And if you can do that and work with your boss, you’ll likely get a much more than a 4% Raise. So that’s step number one. Step number two, would be to ask yourself, what is it that you find people regularly asking you to do that helps them solve a problem? So are you often asked to proofread a paper for somebody? Are you often asked to design a website? Are you often asked to design the party or the event for a friend. Are you often asked to, to build an idea or to help organize an event? If so, that is your focus group, the people who know you, like you, trust you, telling you that you are good at that. And it validates the idea that you have there’s this proof of idea, that validates that, so now, you just need to ask yourself, what could I charge people to do the things I’m already good at. That’s typically the first step in the side hustle. So many people get way off track, and they think I’ve got to go back to school and get my computer science degree, I’ve got to do this and that, just do what you’re good at right now. And people will pay you for that. The other side of side hustles would be like, I don’t want to have any ownership, I don’t want to burn any extra brain cells on this, I just want to find a part time evening job, where someone just tells me what to do. I work the hours, I leave and go on with my life. Nothing wrong with that. For example, when I was in college, I worked at Chick fil A, a great place. And then I would work in Montgomery Ward’s, a former department store, I sold shoes in the evenings, okay, that was my two jobs to put myself through college. Now, both of those jobs, people were telling me what to do, I wasn’t inventing my own business. But I did that intentionally, you know, get this, I did that intentionally. So that I could reserve my brain cells and think of other ways I could be a better student. And at the time I was student body president in my college, I was always thinking of new ways to help serve the students. So if I was a manager, or I took on too much responsibility on my job, I couldn’t be focused on what I really was passionate about. Be sure to catch that, because it’s important to reserve your brain cells for what really matters to you. So sometimes working for someone else can be the way to do that. Now, later on, that gives you the money to launch your own business, if you so choose, which is what I did. But those side hustles are easy ways to ask what am I already good at? What are people already asking me to do right now that I can start charging for, or you find a job that you work, maybe you know, 5, 10, 15 hours a week, evenings and weekends, that provide you some extra money, but the bottom line in all of that, and let me put a nice bow around all of this is? What is your why? Why are you doing that? If you just work to make more money, oftentimes, we know that expenses rise, rise, rise to the amount of money that we’re making. And suddenly now your part time job and your side hustle equals your new expenses and you’re no better off. So I would encourage you to go back to the notecard. The three goals I’ve got and tie that side hustle to helping you achieve one of those three goals so that when you achieve those goals, you will feel empowered, courageous, emboldened. And that way, when you go to that job sometimes or your workout side, hustle, and your friends are out partying, or the big games on and you’ve got to work, you’ve got to have a compelling reason, and a motivation to drive you to say, You know what, short term pain, long term gain, I’m doing this for a reason, I want to see my daughter go to college. That’s why I’m doing this extra side hustle, it’s worth it to me. So as long as whatever your Why is worth it to you, it can drive you through those hard times. But it can really get you focused on what you’re good at. And again, make it easy. You know, there’s a mantra that I say on a regular basis that effortlessly and easily, opportunities are coming to me and I and when I go to the ocean, I see the waves, each wave represents this new opportunity is flowing to me, when you have that type of mentality that there’s always new opportunities out there, you will find one that fits you and pays you well.

Clint Murphy  48:18

I love that effortlessly and easily. Opportunities are coming, I’m gonna make that a bit of a mantra. And when you think of that side hustle, Derrick, often people will start to say, hmm, wait, maybe I want this side hustle to become the permanent hustle. And I want to move in that direction. And when I’m talking to a lot of young people, I often contrast two different approaches. One I call the Spider Man approach, which is, you know, Spider Man never releases his web from one building until he’s firmly anchored on the next building. And so he’s patient, I don’t have to just blow my job and jump. The other is the infamous Viking methodology of just burning the ships at the beach. And you talk about that one and say, hey, sometimes this may be the one you have to do. Can you contrast that for the listener, when they might have to just burn the ships at the beach and go for it?

Derrick Kinney  49:18

I think that would be like a great personality profile right there, that would tell you in one question, what type of opportunity and really risk are you most suited for? And then let me tell you a quick story. Part of my passion for investing in the lives of young people is at my children’s school and my last one just graduated from there. And I would teach a business club taught it for about 10 years. And so the whole point was to invest in the lives of these young people. But every year, I would do what I call the $5 challenge. And so the club grew as high as about 60 students and so one day I showed up with you know, 60 times five is $300. So I I brought in $300 worth of $5 bills, and I passed them out to each student and their eyes got her biggest saucers. And I said, in life, sometimes there’s a moment where your back is against the wall, and you have to make something happen. Here’s what’s going to happen. Now over the next 24 hours, those of you that choose to do this, you’re going to take your $5, and whoever can basically times it times five, will be eligible for some prizes. And I’m going to give out now who in the room is interested in participating, and about a third of the hands went up. So that means two thirds of the people automatically said, not interested. So I said, okay, take your $5, go to Sonic, go to Chick fil A, spend it on yourself, give it to somebody, whatever you want to do, I have no problem with that. The other third of you, here’s what’s going to happen is I want you to text me by this time, 24 hours from now, and tell me what you did with the money. And then whoever makes the most the top three, I was going to give out some nice Amazon gift card. So this was a way for me, itcost me a fair amount of money, but it was an investment in them to express belief. And so one of the texts I got was a young man who took his $5, he bought a $4.99 cent bag of trash bags. And in our community, there’s been a big storm the night before. So he went house by house, offering to pick up the debris, tree limbs, leaves, etc. from each of the yards. Within 24 hours, he turned us $5 into $81.  Another young man bought a case of water bottles and took it to his sister’s hot and sweaty soccer game and sold bottled water to everybody did the same thing the next day, and ended up making about $78. And my own daughter, for example, with about couple hours of spare, made cupcakes and went up and down the street. And so there’s this moment in some of us where there’s this entrepreneurialism seed that’s planted. And we just know we have to do something with it. And so going back to the young man that bought the box of trash bags, about five years later, I got a call from him. And he said, Mr. Kinney, would you please write a letter of recommendation for me to get into the business school at the University of Texas at Austin and I said, I’d be happy to do it, Clay. And in the letter I wrote, this is a student who took $5 and turn it into $80 in 24 hours with his ingenuity and uniqueness. Think about what he could accomplish with a degree from the University of Texas at Austin, I highly encourage you to admit him quickly. He called me back within a couple of weeks and said Mr. Kinney, they accepted me. I’m so happy to be a student in the business school. The bottom line was, I believe, we don’t have to wait until people are in college or when they’re an adult, to express belief and opportunity. Even at a younger age, we can implore people to say look in life, I mean, Clint, you probably have had moments like that I’ve had moments where something rises up within you and you wonder, Oh, my gosh, this is the moment I have to make something happen. There’s no option here. You simply have to do it. It doesn’t become a question of what, it’s simply a question of how will I do what I’m about to do. And I know, success is on the other side of that. I just have to get there. And you know, for example, my very first practice I bought, we bought it people cautioned me not to do it. But I knew it was the right decision. I bought a huge practice over in Dallas. And really within a couple hours the the people I bought it from began to violate all their non compete agreements. And it lead to lawsuits, it lead to all kinds of just horrific stuff. And but when it was over, I examined and I said I didn’t lose a limb, I’m alive. And actually, this was just an expensive business school class ai what I just went through. What happened was all that time as the market was dropping, clients were leaving, as they were going back to these other advisors because they didn’t know me, for goodness sakes, wasn’t even given a fair chance at it. I kept investing in the market. And then March of 2009, as the market turned back around again. Suddenly, my net worth went up. I talked about this in the good money levers. And it allowed me the emotional strength and the emotional muscles to then buy three more practices because of what I learned in that horrible experience. And you know what, I didn’t die. I made it through it. I’m stronger mentally and physically and emotionally and it allowed me to make better decisions. And so once you’ve gone through the fire, and you’ve been burned a couple times, you may smell the smoke, but it doesn’t cause you to run away anymore. Now you lean into it. And that’s what I learned through that process was when you keep betting on yourself. You don’t win every bet but you become a smarter better with each transaction.

Clint Murphy  54:54

And that raises some concepts of money mindsets, so shift and we’ll talk a little bit about mindset. The first one that’s had an impact on your life and a big impact on my life is the idea of circle of control. Whether it’s the Stoics, Stephen Covey, or even you talked about a young mentor, they all tended to focus on three buckets, what we can control, what we can influence and what we have no control or influence on. So how has that for you had a significant outsized impact on your life?

Derrick Kinney  55:29

Well, it’s had a dramatic impact.  That was taught to me early in my financial planning career by a mentor, and it gave me clarity. You know, so many achievers, so many entrepreneurs, so many people who strive for the next thing, we always think that we’re in control that we’re taught, do the hustle, it’s the hustle that wins the day, and ultimately, just hard work. And you can do everything. That’s actually not right. Well, what we’ve learned is that and what I’ve learned is, I could work really hard at something every single day. But if I don’t have direct control of it, I’m going to be working hard for no reason and simply burn energy out. Now, there was a concept taught to me in a seminar many, many, many years ago, and it was this concept of that, you know, athletes when they train, you know, actors, etc. You know, they go hard, and then they have a rest time. For example, if you’re an athlete, you have the offseason, and you have the regular season. But you and I, who either work for someone or we have our own businesses were what are called Corporate athletes. There is no offseason, unless we schedule it consciously. And what I realized was that, if I’m always burning the candle, eventually, both ends burn and I burn out. And so the best version of me, even small things I’ve brought into my life. Most recently, for example, if I’m in line at Chipotle, or I’m in line at the drive thru, or waiting to buy a movie ticket, I have to force myself to put my phone back in my pocket. And just think and it feels like it’s an eternity. And even during the day, sometimes I find if I just put my phone away, put it in a different room downstairs, leave it alone, and let my brain begin to work full time and the full time job I hired it for and let it do its job. Great ideas come to me, profitable ideas. And it lets me have this bonus employee that I’ve been holding back I hired and I’m paying top wages, but have not let that employee you work to its fullest capacity. When I let my brain do that. And I empower to say here’s our goal. Our goal is this amount of recurring revenue this year, here’s how many clients we want to bring on. Suddenly, that reticular activator, that part of our subconscious mind goes to work to find solutions for that. But it typically occurs in the silence. And when I can put a specific market, much like if I was on the green putting, if nobody told me where the hole was, I might putt for the whole day and not know where the hole is. But because there’s a hole and there’s the flag, the key is giving your brain. Hey, that’s the flag we’re going toward. And then your brain can help you get that ball in the hole even quicker and by serving clients better.

Clint Murphy  58:09

It’s one of the best analogies for a goal. And a clear destination that I’ve heard is being on a putting green and not knowing where the hole is, versus we know where the hole is. That’s where we’re going. It’s a lot easier to get there. I love that, I’m going to file that one into the memory bank, Derrick. And one of the things that we can end on for a last question for you on the book. And then finally, hopefully you’ll have a minute for our final four rapid questions.  Is there are some common money mindsets that hold people back in life? What are some of the common ones you see that get people in trouble?

Derrick Kinney  58:50

This is a part of the book that I didn’t want to have to write because it’s personal for so many people. And the reason I say that is because it holds people back. And I am just anti holding people back. So picture this, let’s say that your childhood or even recently, you might have seen a parent or a grandparent or a close friend bang their fist on the table and say if only we had more money, then we could live the life we want or then we could do the things we want to do. And basically money becomes the villain, that the lack of money is causing us to be oppressed. Or someone might have said one of the worst possible things they could say. And that is, you know in life there’s the haves and the have nots, and we happen to be part of the have nots. And kids, teenagers, people grow up and they live their lives with this subliminal mindset that we’re the have nots and I can’t ever fully achieve what other people achieve. And I’ll tell you a quick story to illustrate that. I came into the office on a Saturday morning to catch up on some things and I saw my voicemail Iight blinking and I had that decision to make do I check the message or just ignore work and keep working a voice inside said check it. I pressed the button and to my shock and surprise was a woman’s frantic voice. She said, Derrick, the moment you get this, please call me back right away. There’s an emergency. And they’re going to send me to jail. Well, my gosh, I quickly dialed her number called her back. And I said, tell me what happened. She said, Derrick, I got a letter in the mail. They’re going to send me to jail. I said, Okay, whoa, tell me why the letter and what happened. So she tells me that she was at a store and she accidentally bounced a check that she wrote, she didn’t move money from her savings over to checking to cover it. She got this nonsufficient funds letter in the mail. And it said that they were going to charge her for it. She interpreted the letter to say it was going to send her to jail. Now I said, why do you think that? So she tells me this story that blew my mind. She said, Derrick, when I was a young girl, I overheard my dad received a call from a store manager that he had just gone to, to buy school supplies for her and her siblings. And her dad had accidentally bounced a check. And the store manager called her dad to say, you bounced a check, I’m sending a cop to your house, and we’re going to send you to jail. So this young girl who was now 55 years old, grew up believing that you bounce a check, you go to jail. Well, that blew my mind. And so the next week, I brought her into the office, we got that resolved for her. And we begin to unpack her bad money beliefs. Now, what I had seen for the past 10 years we worked together was she was always resistant to risk, never wanted to pursue anything that would take her out of our comfort zone. And she was always complaining about not making the money or getting the promotion she felt she deserved. As we unpacked all this, she began to realize it was her bad money beliefs from a seven year old girl, that it had ly magnified as a 55 year old woman who looks successful on the outside, but was crumbling on the inside. And when we began to realize that she was able to say, oh my gosh, that’s a bad belief. That’s not even true. And she linked how the bad things that had happened to her were connected to her bad beliefs. Within six months, she got the promotion that she wanted, and was making about $20,000 more than she was six months earlier. And she began taking my financial advice at long last and was making more money as well. So the bottom line is, you might think this sounds so trivial, but you might have been bullied, I’ve got a really big nose as you can see, I was taunted as a kid. And even today, I still think back sometimes and what people said to me, and I’ve got to say no, cancel. That was the old Derrick. This is the new Derrick. And the words that those people said to me weren’t necessarily directed to me, it was out of their own inhibitions, it was out of their own lack of self esteem, that they wanted to put something on me. And so if I hold on to that, that makes their problem, my ownership. And I can’t do that. I’m far too valuable to own other people’s junk. And so I would just encourage her to do the same thing. And we need to put those bad money beliefs to the side, and you are now a new person. And I want to express my full belief in her. And so I think people right now need to recognize, you might have been told that but take that lid off of your head so that you can keep moving ahead.

Clint Murphy  1:03:32

And so really assess what money lessons did you learn in your childhood and what do you need to let go? What do you need to change now that you’ve grown in life?

Derrick Kinney  1:03:46

Yeah. And even you know, I think about COVID. COVID taught me personally a very valuable lesson I’ll quickly share, you know, for so long as a financial advisor, I’ve wanted to model to my kids. Hey, Dad has it all together with his money, the dad knows what to do. Dad is always on his A game. And we had all the family of four kids, everybody came back home from school during COVID. And we’d go around the dinner table and talk about highs and lows. And tell us about your day. And they’d say, well, Dad, how was your day and well, I did this, I worked with this client, etc, etc. There wasn’t a whole lot of attention paid to me. But when I realized that, when I would admit a mistake that I made, suddenly you could hear a pin drop. And I would say you know what, Dad really messed up today. And you could hear them whispering oh my god, this is going to be so good, Dad really messed up. And I tell them about maybe I lost money in an investment. Or I made a mistake with a client, I needed to go back and correct and they began to realize oh, my gosh, Dad just like us. He makes mistakes. And what I realized was so many parents miss out on the golden opportunity of sharing their money mistakes with their kids, because kids grow up thinking that mom and dad have it all together. And then when they get to be a mom or dad themselves, they think they’re the oddball because they’re having this, this mistake or this problem. But if we can let people know ahead of time, hey, this is what money feels like, sometimes it’s good, sometimes it’s not so good. We make mistakes, we learn from those mistakes and your training kids to have a perspective that people like imperfect people better. And money is also imperfect, and we have to manage it. And that’s why it’s called managing money, not perfecting money, it gives people the chance to let themselves off the hook, and learn and grow, and I think have a much more healthy relationship with money, which helps them to often have more of it to do the good that they really want to do.

Derrick Kinney  1:03:47

It’s a beautiful realization for your kids and something we can all use as parents. Do you have a quick minute for a final four rapid fire questions.  All right. So what is a book that’s had a significant change on your life there?

Derrick Kinney  1:05:56

Well, I mean, my easy answer is going to be the Bible, of course, but from a financial standpoint, one of my favorite books is called well, it’s The Richest Man in Babylon by George Claisen. It’s a book I read probably once a year, that fable written in Babylon. The principles are so easy, so timeless, but it just talks about how when you tell stories, people remember the stories, as long as the principles are that they may forget the facts and the figures, but the stories always stick.

Clint Murphy  1:06:27

I’m gonna have to check that one out. I’ve heard so much about it and haven’t found it yet. So that’s got to be on the list. What’s on the bookshelf right now for you?

Derrick Kinney  1:06:34

Well, a couple books. One is Atomic Habits, that I want to dive into James Clear. One is a book that I’ve read before, and I’m just getting back into it, again, is the Four Hour Workweek, which is so so good. Anything that Donald Miller writes is so good. One of the books that I have is a book by T Harv, Eker. And he wrote a book called The Millionaire Mind, which is so so good. Some of these books are written so practically, but they disconnect, that book, he contrasts, you know, rich thinking and poor thinking, and how sometimes just a simple transitional thought that can shift you from one to the other.

Clint Murphy  1:07:14

Let’s check that one out, too. I love this out of that. What’s one thing you’ve spent less than $1,000 on in the last year that you think to yourself, huh, I should have bought this earlier?

Derrick Kinney  1:07:25

Oh, that’s a good question. You know, I just took my son, we want a driving trip to Graceland. And the trip cost us less than $1,000. We set some goals. We’re big Elvis fans. And we set some goals and so forth for our respective businesses. And I should have done that trip earlier. We just we just got back just two days ago, it was wonderful, but time with my son. Even other trips I’ve done with my kids individually, I always wish I would have done them sooner because I enjoy them so much. And they’re typically less than 1000 bucks and its driving trips.

Clint Murphy  1:08:00

I love that. I love the sound of that. And I’ve often heard parents taking one kid at a time on a trip. So it’s something I have to put in for my two boys. I like that idea and this show’s about growth. And so what’s one mindset shift habit or behavior, you’ve changed? We’ve already heard about the putting the phone away in line. That’s a good example. But you already gave that one. So what’s another one that you’ve done in the last 12 months that’s had a good impact on your life?

Derrick Kinney  1:08:28

I think for me, this has been one of the hardest years that I’ve had just in terms of as we create a new business. There’s been even some friends that have said some things that were hurtful, I think they meant well, but they were hurtful. There’s other advisors that I’ve worked with that have said, Derrick, that’s, I don’t know what you’re thinking. And while the thinking may be to protect me, it just came across the wrong way. And so what I’ve learned in the process is don’t squish other people’s dreams, better to be accused of walking alongside someone to help them achieve their vision and they fail, then you be the angst that they think that you think they’re a failure. And when you can do that. I think that’s winning right there.

Clint Murphy  1:09:24

Yeah, it’s an interesting one, Derrick, as I’ve pursued, building a side hustle and growing on social media and the podcast, it’s all for a long term goal. And what I’ve realized along the way, is for a large portion of it, and I’ll get emotional on this one. It’s a pretty lonely road. No one believes in you. And not no one but very few people believe until the results start to come. And so you invest you keep marching, you keep doing the work and you recognize that It can be a year, it can be two years, it can be three years, and it’s going to be lonely. And then when I get there, everyone’s gonna say, hey, look that happened overnight. We believed in you the whole time. So I believe in you, there are people that believe because they’re on that March alone and surround yourself with some of those people, because definitely is a lonely journey, my friend.

Derrick Kinney  1:10:22

Well, Clint, thank you for that. And I would echo the same to you. I know you got a successful podcast, and people don’t understand behind the scenes of what it takes to do what you do. They just think, hey, here’s this great podcast, and they don’t know all that it takes even with my own podcast, I can relate to that. So I believe in you as well. And thank you for having me on today. This has been a real joy.

Clint Murphy  1:10:44

Yeah, and we went wide, we went deep, is there anything we missed that you want to get across to the listener as we wrap it up,

Derrick Kinney  1:10:50

You know, one of the things I’m very passionate about setting goals, and for you to have 2023 be different than 2022, you will need to do something different. In other words, it just won’t happen on autopilot and the famous phrase, as you know, if you do something and expect different results, that’s called insanity. And many people, I think, live in insanity, year after year. So I would encourage you, you know, I’m going to do this with my family. At first, when we did this, they would moan and groan. And now they look forward to it as we write down to five goals as a failure on a note card, no personal, spiritual, physical business, etc. And we write down again, when I achieve these goals, here’s how I will feel. We attach a Bible verse to it. And then I make copies for the kids and I put them on their bathroom mirror on their nightstand in their car, just to practice what I’m preaching, because it’s that simple act that will feel you to be more successful in 2023 than 22.

Clint Murphy  1:12:18

Perfect. And where can our listeners find you?

Derrick Kinney  1:12:21

They can go to We’re in the process of redoing the website right now. So it’s not 100% But it’s getting close. And also on Instagram is a great place @DerrickTKinney we post a daily content to encourage people and give them ways to make more money to do the good and really enjoy a life of freedom and meaning that they’ve always wanted.

Clint Murphy  1:12:47

Perfect. We’ll get all of that in the show notes. And thank you for joining me on the show today.

Derrick Kinney  1:12:52

Clint, thank you for having me. I really enjoyed this conversation. This was fun

Clint Murphy  1:13:03

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