Ep 283: Bathroom Floor Moments: Why Smart People Make Emotional Money Decisions with Jax Crider

And I had a coach and she said one of the most profound things to me.

And this is even after a lot of that situation had already found its way.

She said, when you can stop thinking about every single thing that happens as something that's happening to you and you start thinking about how it's happening for you, like everything will change about how you view life, about how you view business, about how you make money, all of it.

It just shifts.

Welcome to the weekly wealth podcast.

I am certified financial planner David Chudick.

This podcast and my wealth management practice are both designed to help the mass affluent to live better lives by how they handle their money.

We talk about financial strategies, prosperous mindsets, and simply how to build true wealth.

So come on and let's enjoy this journey together.

Today we have Jax Kreider and she's a 24 year mortgage and financial services veteran.

She's an entrepreneur, she's an author, and she's the host of the Financial Mastery Simplified podcast.

And she had a pretty smart guest on that show recently.

And hopefully that guy in this episode are going to come out around the same time.

Hey, Jax, how are you?

I'm good.

Thank you so much for having me on your podcast.

And yes, there was an amazing guest on my podcast recently.

I wonder who that was.

He's pretty smart, good looking guy.

I, I say if I can do nothing else in life, I can talk.

Me too.

But it's really always interesting for me.

I love my podcast is a lot of times it's a solo episode.

But I love interviewing.

But I also love being on other people's podcasts because I just learned a lot, like how do they even logistically handle everything?

So that was, was pretty cool.

Yeah, absolutely.

But you work a lot with people who are financially transitioning and maybe had some setbacks and maybe digging out of a hole.

And typically, I think with women, first of all, I know that you had a couple things just in your life financially that, that we've talked about.

So being as transparent as you'd like to tell us about a time where you were like, oh crap, this is not where I wanted to end up.

Yeah.

So first of all, I think that people have this idea when it comes to financial mastery, when it comes to money, that we have to have it all figured out.

And even those of us who are in the space will tell you that's just not true.

Like, we may understand it better than the average Joe, but like, that doesn't necessarily mean like we have it all figured out or we, we have the Perfect answers.

We usually are just a little farther down the path.

And I've dealt with definitely my own financial missteps, mishaps, if you will.

And what he's alluding to, what David is alluding to is, gosh, about trying to think.

Four years ago or so, we actually went to go sell our house.

And the reason we did this is we had the market kind of downturning, so my.

My income was shrinking.

We also had a child that was born in 20, 21, eight weeks, two days early.

She spent 47 days in the NICU.

So that'll put a little squeeze on the money, Right.

So lots of things happening.

So we did the financially responsible thing.

Here we go.

We list our big house that we have.

We don't know as it goes under contract if it was the buyer's agent or the inspector.

Somebody leaves a half bath water running, it runs for three and a half days.

It does almost half a million dollars of damage to the house and creates kind of this ripple effect that basically puts us into a little bit of a financial tailspin, if you will.

Right.

We were already on that precipice of like being a little bit clothes and being a little strained, and that sort of just tipped us right over the top.

And a lot of people, when they were starting to get called by their creditors and when they're starting to see their credit tank and like some of the things that I was experiencing, they would have just run and hide or buried their head in the sand.

And trust me when I say I thought about those things.

And I.

It's not that I didn't want to consider them or even do them maybe a little bit, but the ultimate thing is I understood because of what I've done for a living for so long, that credit is malleable and fixable.

Right.

That this situation is temporary and it's just a setback.

And we deal with these financial setbacks oftentimes in our lives.

Maybe it's because we lost a job, and maybe it's because the perfect marriage we thought we had is now falling apart.

And so we're having to pick up the pieces and figure it out.

Right?

Maybe, unfortunately, somebody passed away, right?

That perfect spouse that we love so dearly, they passed away on us.

Lots of scenarios and situations, and I think it's just so important for people to hear and understand that a lot of.

When it comes to wealth building, when it comes to financial mastery, when it comes to these things that you and I talk about all the time, it isn't about perfection.

Right.

It's about putting one foot in front of the other, not being afraid to admit that you don't know everything even if you're really smart.

Right.

We don't know everything.

Picking and choosing the right perfectly placed experts in your life and in your corner, like, how do we do that?

And sitting with ourselves a little bit and asking ourselves hard questions because everything is great and just the status quo.

When everything's great and then when all the bottom starts falling out and it doesn't look the way we wanted it to look, then we have to start asking ourselves, is that what even what we wanted in the first place?

Did we?

That's true.

Yeah.

Do we like that?

And so it really put a lot of stuff in perspective for me.

So it's probably a little bit of long winded answer to answer that for you.

But I think that's you and I talked a little bit about that on my podcast and I just don't mind laying bare because I have no shame in my game.

Right.

Just because I may have made some missteps or also life just lifed.

So how much of that part of your life that chapter was life just happened versus maybe there was something that honestly you could have or should have done differently.

Sometimes you have a preemie.

Like sometimes just medical things just don't go.

Birth doesn't always go exactly how you want it.

So I'll tell you that I've asked myself that question a lot, like how much of it is my fault, if you will, because I think if you.

Are somebody, that's such a mature question to ask.

Right?

Yeah.

Here's the reality.

We all.

If you're really intelligent person, you're somebody who is actively trying to make your life better, sets goals, does all of these things.

You have a pretty high level of accountability and responsibility.

Right.

And it's really easy though for you to point all the fingers at yourself.

And so that's where I sat with the juxtaposition.

I think a lot of it was life probably maybe closer to the 75% mark, but there's definitely some money that we spent that we probably shouldn't have spent.

Right.

Maybe we should have taken a second look on is this really the best decision to buy this house when we bought it or whatever?

Right.

There were a couple of aspects and things there that could have changed, but a lot of it was life.

Right?

Yeah.

Having the preemie, I.

First of all, we didn't even know we were pregnant with her until at the very end of Escrow of that house.

Right.

So no crystal ball there.

We also had gone through round a round of IVF and it wasn't successful.

We had a miscarriage.

And that's really cheap, right?

Yeah, yeah, that's so cheap.

But we had a lot of things transpire again, life just happening and you can't.

That's another thing.

I think a lot of times too, especially for me with the divorce situation, I think so often were like, oh my gosh, this is all my fault, right?

My marriage fell.

Fell apart or whatever.

Maybe you contributed and it's perfectly fine to own what you maybe did because I unfortunately have dealt with a divorce.

It was way long time ago, was towards the beginning of my mortgage career.

I was very young and maybe, yeah, I. I admit that I contributed some to my divorce.

Unfortunately, he contributed a little bit more.

He was a little bit financially, emotionally and physically abusive.

But.

But it doesn't mean that it doesn't take two to tango, right?

And I take responsibility for my piece.

However, the truth is that you can only plan for so much.

You can only prepare so hard.

You can only put as many ducks in a row as you can possibly put.

It's not always going to be perfect.

Right?

And so you have to just be willing again to step back and then start asking yourself as the next shift comes, okay, what are my priorities?

Right.

Okay.

I find myself a David.

Maybe the person that we were dealing with on the financial side, he wasn't the right guy or gal before.

And find somebody who's aligned, right?

Who knows that now my goal is to sell the monstrosity and live in a van down by the river.

Or maybe not.

Maybe I want to keep the big huge house and figure out how do I work around that, how do I make more money or whatever it is.

Right?

Whatever that looks like.

But we're so focused on either shame and doom and blame, or it's not my fault.

I didn't do anything.

I had no part in this.

And I'm like, that's not very reasonable either.

It's in the middle somewhere, right?

Yeah, yeah.

No, I think that's a couple years ago.

Actually, it was last year.

I went to a business conference and I just met a business coach.

This was a coach.

There were some financial advisors or coaches and we were talking about.

We had dinner and a drink or two and I've never met this guy.

I'll never meet him again.

But I was saying, you know what?

I really need to.

I just feel like I'm a really good financial Advisor, but maybe kind of the business owner part.

Like, it's.

I just need to.

And he said, tell me more about that.

He's like, how long have you been in business?

I'm like, 22 years.

He's like, you survived 22 years.

You're not bankrupt.

He's like, can you look in the mirror and say you treated people well?

I was like, yeah, maybe to a fault.

Are you Elon Musk rich?

No.

But can you, within reason, buy whatever you want or.

Yeah.

He's like, you're a pretty good entrepreneur.

And I think sometimes there's that fine line between accountability and then I think achievers sometimes are too hard on themselves.

Oh, for sure.

I know, because I work with business owners.

Every 100% of the businesses that you personally deal with are either not in as good a financial shape as you think they are and they're just kind of hiding it, or the poop is going to hit the fan at some point.

There's going to be a couple employees that leave that you never expected, or something's going to happen.

So when you look at them on Instagram, you're seeing the highlight reel.

But 100% of businesses, mine included, are going to have the time towards.

Yeah, the owner could have maybe done some things differently, but also, just sometimes crap happens.

I was going to say, I'll touch on this for a second because, remember, I do mortgage.

And the reason that people think we're so scary is because they have to lay financially bare.

And that is terrifying to most people.

And why is it terrifying?

Because they don't.

They're not even usually honest with themselves about where everything's at.

And so now they're forced to face the music.

And it's super funny to me because it's just data, it's just facts.

And we're the ones, like clouding it with emotional judgment and shame and all these other things or whatever.

But I agree with you.

I think so many times, especially your high achievers, especially your people who they followed the rule book or they've done the right things, right, quote unquote, they're really hard on themselves.

And I'm like, guys, just so we're clear, you're probably 10 times, 10 steps ahead of most people.

No question.

You just need to, again, just always be readjusting and staying in alignment and figuring out.

And again, when life does life, how do we address it?

How do we handle it?

I can't tell you how many people I have had ask me personally, how are you still standing?

I Have a very good friend.

And she has had some financial issues, but some of them have happened to her kind of on her own because of some of her own decisions.

We'll just say that, right?

And she's like, but you.

The things that you've done, they really haven't been.

She called them my fault, right?

And I said, it doesn't really matter whose fault or what caused it or whatever, right?

It just is what it is.

It's just data.

It's just things that have happened, and the only thing I get to control is how I react to it, right?

And so my reaction has been, okay, where do I go from here?

How do I readjust?

How do I regroup?

Not, oh, my gosh, the sky is falling.

And please don't misunderstand me, guys.

There are moments like that, too.

Everybody has.

You have the full range of emotion.

And so some days, like somebody told me on one of my podcasts, and I love this image.

And so now it's my.

My word, bathroom floor moments, right?

Like where you're just struck, just laid out on the bathroom floor, just bawling, okay?

But when that is done, when we've let this emotional release come out, okay, then what?

Right?

And I had a coach, and she said one of the most profound things to me, and this is even after a lot of that situation had already found its way.

She said, when you can stop thinking about every single thing that happens as something that's happening to you, and you start thinking about how it's happening for you, like, everything will change about how you view life, about how you view business, about how you make money.

All of it.

It just shifts.

And I was like, wow, that's so powerful.

So even you and I were talking about how we do reschedule this podcast because of my kidney stones.

And I was asking myself that week, right?

Like, why is this ha.

How is this happening for me?

Because trust me, when I say kidney zone does not feel like it's happening for you.

I'm just saying.

And I think my answer was, maybe I'm not good about taking moments of rest.

And it was.

I didn't have a choice, right?

I was laid out.

There was no option.

But rest.

That was the choice.

Maybe in a weird way, that's what my body needed and what I needed.

And here we go.

So it was happening for me, not to me.

But that's a different way of thinking, right?

No, I agree.

I had a pretty major.

I've never been sick, but I had a pretty major heart issue earlier this year and things are great now, but whenever you're dealing with a heart, that's a difficult thing.

And, yeah, major thing, you know, And I'm a believer and it changed me.

And I believe I would not go back and read if I could take away that heart incident.

I wouldn't because there was so much good that came out of it.

Now there was the point where it's like, hey, for just a moment, you know, there's a chance we might have to do open heart surgery.

That's not a fun thought, but I would literally not go back and take that issue away if I could, because it's been so valuable in a scary way, but also in a change way.

So sometimes things like kidney stones have to make us slow down because we're idiots and we work too hard and we never take a break.

And that's just, just what life is.

Why do otherwise intelligent people, why do they sometimes have a really hard time making good financial decisions or even being financially confident?

Sometimes the people who are the worst with money are doctors and dentists and lawyers and what causes.

Because money is simple math, right?

If you make a dollar and you spend $2, it doesn't work.

If you make a million dollars and spend a million and one dollar, it doesn't work.

That's not that hard.

But what makes this happen?

And again, you.

I bet you've had mortgage clients where you may have said, wow, I thought these people were doing better than they are.

But they have a way negative net worth.

And it's more of a behavior that probably got them there a lot of times.

It is.

So what's interesting about money is.

And it's one of the reasons.

And you and I talked about this a little bit before the show too.

I have a program called Financial Inst.

Framework, and it's basically about stripping you back to like, what your natural instincts are.

Because your instincts aren't necessarily, like, wrong.

A lot of times they have to do with the programming that happened in your childhood, right?

They have to do with what you grew up around, how you saw money being spent, what your perception of that money being spent was, right?

So there's like a lot of just like emotional aspects coming in.

Because you're right.

Money, the math is just the math.

So that part is a simple part.

I think emotions is most of it.

We allow.

And I'll give you a very specific example.

My own husband, very brilliantly smart man, brilliant with numbers.

And he grew up incredibly poor.

And so sometimes that affects his financial decisions.

Even now, I'LL see him buy something or do something, and it's such a weird choice.

And I'll look at him and then I remember.

I know why.

It's because he couldn't do that as a kid, and he refuses to want to have that limitation now.

And so even if it's dumb and even if it doesn't make sense to a lot of people, that's just what he's going to do.

And then I think a lot of it too is, is that sometimes we don't make good financial decisions because we don't want to feel stupid, because we're so.

We're such smart people, and we don't feel like it can be broken down in a way that makes logical sense, right?

So we just sort of avoid it.

We kind of turn our hands up or, you know, whatever, or we get on the other path where we don't ever make a decision because we need too much information.

So we're gonna just keep.

Keep obtaining information.

At some point in time, you're gonna have to make a call, right?

Because you could tell them from the laws of compounding interest.

If you just sit and let's say you have $20,000 and it's just sitting in a general old checking account doing absolutely nothing, you're technically losing value on that money, right?

Anything with it.

Now, if it's sitting there because it's the slush fund for you in case something bad happens, right?

Different situation that has a different valuation, a different emotional weight, all of the things now, but you have to.

Those have to be conscious decisions.

And I think a lot of times our unconscious programming from childhood is making way more of the decisions than it should be.

But you know what?

Not making a choice is actually a choice also, right?

So if you just say, well, I don't know what to do, so I don't do anything, that there is an opportunity cost to not do.

And sometimes not doing anything is the right decision, but it needs to be a conscious decision.

I'm sure there are people who decide, you know what?

This is just not a right time for me to buy a house.

And we're consciously making that decision, and that's cool, but if you just procrastinate and just don't make a decision, that.

That doesn't really help anything.

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So I have a theory.

I believe that there are four health that you and I need to work on.

So there's our physical health.

So there are things that you can't do and should do that can reduce the chances of major health issues.

Now, it can't take it away, but it can reduce.

There are.

There's your relationship health, right?

There are things that you should do and should not do that would give you a better chance of having a really good marriage.

Now, is that guaranteed?

No, but it's.

Then there's our spiritual health.

There are some things that we all need to do, and then there's our financial health.

And now those are all pretty related in some ways.

A lot of relationship health is affected by not having good financial health.

And then there's stress and everything.

But you don't want to be that mortgage broker that, that made $50 million, but you're 400 pounds and unhealthy.

That's not a win.

You can't walk up a flight of stairs and enjoy the money or be someone that everybody says, you know what?

I hate Jax because she's horrible and I don't want to be a friend because she's greedy.

That's not a win, even if you have a lot of money.

So I feel it's really important for us to work on all four of those.

But I think that the emotion of, of, of money can be a very negative effect.

One of the things that I think is one of the bigger mistakes people can make, and I'm talking about just your average people, is saying, hey, the bank will lend me enough money for a $3,000 a month mortgage payment.

And then they literally borrow a house that is going to be that $3,000 a month mortgage payment.

I think sometimes that leaves you no room for, like when the poop happens.

So what sort of emotional decisions do you see people?

Like, I need that bigger house because people need to see me having a bigger house.

Do you see people maybe getting too small of a house because there's a limited mentality.

What do you see there?

It depends on the person.

So this is where we're just very different in mortgage.

So the math is the math, and you can absolutely go to any mortgage person out there who's licensed, doesn't have a bad reputation, and utilize them right perfectly fine.

And anybody can do that math.

And for the most part, as long as they know what they're doing, they're going to be able to get the loan done if the loan is doable.

Right.

The problem is that there is another component that we've been talking about, which is sort of the emotional piece and really honestly what our job should be as mortgage brokers.

And it's not.

Not everybody feels this way, but I definitely do, is we, this is going to be the largest debt you're ever going to hold.

Okay.

And so we need to help you look at that.

And for some people, that does mean that they want to bite off more than they can chew.

Now, if they have a plan for that, or maybe there's some income that there we're not able to count, but it actually does come into the household, or there could be a whole lot of different things that we could be looking at that could be affecting this, then.

Okay, sure.

Right.

But I may need, as the person who's on the other side of the fence to challenge that thought process and say, hey, David, look, I totally understand.

This is like how much house you want to qualify for or whatever.

Based on what I'm seeing, that might strap you a little bit.

Are we good?

What's the plan?

Should we maybe scale it back a little bit?

Just like sometimes we have people on the other side, they have a little bit too much scarcity mentality.

There's a little bit too much fear there.

There's a little bit too much.

Oh my gosh.

And we have to tell them, look, you going out and borrowing another five, ten grand or whatever to buy the perfect house is not really going to make or break your monthly payment.

Okay, sure.

Is it going to increase it?

Sure.

Is it going to increase it massively?

No, not really.

So now we have to ask ourselves questions like, are we okay maybe eating out one or two less times a month or something?

Right.

We just have to.

Again, this is all in play and you just have to look at it and you've got to do a balancing act.

And I think when it comes to what I do for a living, it's so important for us to just be challenging people's viewpoints and asking them why and understanding what it is that they actually want to do to begin with.

Right.

Because we've told people as Crazy as it sounds, they shouldn't buy.

And I've also pushed on people to buy and I've given them very specific reasons.

I'm not like, oh, you should buy or you should not buy.

I'm like, look, you should buy because you've told me X you should not buy because you told me why.

And not everybody feels that way.

But I think that it's a really important factor is that.

And a lot of it is again, you have to ask yourself questions and you have to know yourself.

I'm sure you do a similar analysis when people come to you and you're trying to figure out how to help them invest money.

Because there's a billion ways you can invest money.

Oh, there's.

And I talk a lot kind of in the bell curve.

There's on one end of the bell curve and the other those are the range of behaviors that probably will get you where you want to go.

But outside the bell curve, those are the things that'll get you in trouble.

If somebody says I want to I want to mortgage my house and buy the latest Bitcoin or whatever, probably like I'm going to argue against that.

But if one person says I want 60, 40 stock to bonds, the other one says I want 65, 35, like I'm not going to really argue that because if that's.

And then on the other end you may get people.

I don't believe in any risk.

So I'm just going to put my money dig a hole.

And that certainly is not going to get you the power of compounding interest.

So I think there is a range of acceptable behaviors and I really feel like that's my job is to manage that with my clients because there is no.

And when you do a spouses too, inevitably one spouse is going to be a little bit more aggressive, the other one's going to be a little bit more tentative.

And the whole idea is you don't want one not being able to sleep at night because the other one is the cowboy with his hair on fire or vice versa.

So behavior management is certainly a big part of what I do.

And I think that's super.

Like I'm just fascinated about how people think about money and wealth because it's just such a big part of life.

People say money's not that important.

The money is really important.

Not in a greedy way.

Not in I need to have nicer stuff than you because I have more bling.

It's because when you have a baby that's you'd rather have A baby that's premature and have more money in the bank so you can spend less energy worrying about the bills and more about the baby just getting.

Well, money is important and we should be generous and we should use it for good.

For sure.

Yeah.

I definitely agree with you.

I also think that when people with the money aspect, like, we.

We sometimes get a lot in our own heads about what's happening, like, culturally.

Like, I think that the shifts are interesting to me too.

I don't know if you've looked at the shifts.

Think about, like, our grandparents, our great grandparents or whatever, like, they own the same couch for 40 years, 50 years, 60 years, whatever.

Right.

And now we have, like, almost went the other extreme, where we almost went to throwaway culture, where we literally would own something and get rid of it in two years kind of situation.

Right.

And then now I feel like we're maybe coming a little more towards the middle where people are, like, thrifting.

They're looking to buy more quality things, keeping them for a little longer.

And so it's an interesting dynamic, too.

Not only just, like, how our own emotions and our own things that have happened in our lives have shaped our effect on money, but also what's happening culturally.

Right.

And, like, where you're growing up and what time frame that you're experiencing and things like that.

This sounds like a weird thing to say, but my girls, because I have four daughters and I.

They range anywhere from 28 to 5, and most of them didn't spend a lot of cash.

Right.

Almost everything that they've spent for most of their lives has been on a card of some kind, debit card, credit, whatever.

And it's a very different kind of distinction in your brain of, like, physically handing somebody, like, dollar bills and like, counting them out and counting out change than, like, swiping a card.

Right.

That's a very different mental process for people.

And I've seen some struggle with that with my girls, like, with how they rectify all that within them.

Yeah.

When I have.

When I don't have any more physical dollars in my pocket, I can't spend any more dollars.

When my card may or may not have money left on it, it's just easy to spend it mindlessly.

So that certainly is a.

Is a challenge, for sure.

So if somebody's listening and they're thinking, you know what?

This is a pretty cool conversation.

We're not really talking about mortgage rates and all that stuff, because that's boring.

And that's what.

Honestly, that's what you or another Mortgage broker gets paid to know, but we're talking about mindsets and how to be successful and things like that.

And know, are you being greedy or are you be or are you having a scarcity mindset?

If anybody's listening and like, you know what, Jack sounds pretty cool and I'd like to chit chat with her, number one, like, how can you help on the mortgage side and what else can you do for a, for a listener?

Yeah, for sure.

Thank you so much.

So first of all, we deal with so many different people and there are different stages of mortgage.

So a lot of people are like, oh my gosh, can you help us?

The best thing that I can tell you is always reach out.

If I don't, if I can't personally help you, if our team can't help you, we will find somebody that can.

So don't worry about it.

I've been doing this for over 20 years.

I have enough connections where if it's a doable situation, we will help you or somebody else will.

Right.

Especially we deal a lot with people in transition.

So, you know, women, if you're going through divorce right now, if you're not sure what your options or things are, please reach out.

Because not only do we have resources to help you on the mortgage side if you need that, but also just something, what should you be thinking about?

Right.

What, what kind of questions should you be framing up?

I actually have a whole workbook that I just set up.

If they just want to connect with me to see maybe if some of my other things might be helpful for them, then I'll definitely make sure that you have the link for my calendar and they can book a 15 minute call my calendar and just see if there's something that I can help facilitate with.

Because like I said, Financial Instincts Framework is one of my bigger programs.

And that program is designed to try to help you figure out where you're at.

What do you need?

Like, where are our strengths, where are our weaknesses, things like that.

And then on the other side, hope help plug you back in with people like David who are like minded, who can help you.

Okay.

Now I have a framework of like how I think, how I feel about money, where I want to be, where I want to go.

And now David can say, hey, this is where you need to do that.

Right.

Or this is a lot in alignment with what you're looking to do, that kind of a thing.

Yeah.

So they can reach out to me that way.

They can always find me@jackscreider.com that's where my main website that'll filter out to all the different things that I do is as well.

Excellent.

Excellent.

One of my favorite books and favorite concept is the who, not how concept.

Right.

So if there's something in your life that you either want to do or want to improve or want to fix, it's typically better for you to say who is in my life that can help me with this as opposed to how do I do this?

And especially now with AI and Google, like you can get decent, like how information, but I still think it's better to have a human being that can walk you through the process.

I can Google mortgage types and half the stuff that may come up might even be like advertised that are designed to sway me one way or another.

Or I can just have a good mortgage person in my life that can say, hey, what you're trying to do really doesn't make sense because of X, Y and Z. Yeah.

So I think.

Well, I was gonna say we.

We do.

That's any good expert.

I agree with you and I love who, not how.

That's the same.

I feel the same way.

Was a life changing book when I read it because I was like, oh, I'm always.

And I think that's what a lot of times really successful people do is they're always trying to figure out how and not who.

And it's like, nah, dude, go talk to David.

David is going to tell you.

And hey, if David is not the perfect financial planner for you, if it's he might say, hey, we're not aligned.

But I know this other person, so.

And they might be the perfect person.

We've done that on mortgage too, because it's okay.

We're not everyone's cup of tea.

I for sure am not everyone's cup of tea.

And that is a.

Okay, baby, if I'm not your cup of tea.

Absolutely.

Cool.

Excellent.

We'll have those links in the show notes, but I always have a couple.

I have a question for guests that I don't tell that I'm going to ask.

Okay.

This one you may not be prepared for, but we're the weekly wealth podcast and we talk about the mindsets, the tactics and the strategies that can help you to build and maintain wealth.

Right.

So, Jax Kreider, what is your definition of wealth?

What does wealth mean to you, to your family, and just all the people in your life that you love and care about?

That's a great question.

I think that the definition is different for each and every person.

For me, it has to do with freedom.

It has to do with the ability to do what I want, when I want and not necessarily have to ask permission.

So the fact that I can work for myself so that I'm not beholden to somebody else, as far as that goes on my schedule, right?

The fact that I can spend money in a way that aligns with who I am as a person and the values that I hold that for me is true wealth, not do I have millions and millions of dollars in my bank account or whatever the case, right?

That is what's way more important to me than anything else.

Do I have the availability that if somebody asks me to give that I can, the answer can be yes.

I don't have to go and count my pennies and be like, okay, David, is it gonna financially torpedo me if I give this $5,000 to this charitable organization or whatever it is.

You know what I mean?

Yeah, no, for sure.

Almost everybody I've ever asked that question to gave some version of freedom.

And interestingly, nobody's ever given a dollar amount because that's subjective, right?

The amount you need to be free may be different than what somebody who's Elon Musk or some billionaire may feel that they need more.

But freedom is certainly.

And money gives you options, right?

That's all it does.

If your car needs four new tires and if you don't have the money to get the tires and you have a really bad day, if your car needs four new tires and you have the money, you have just an inconvenient day where you sit at the car tire repair place for just an hour or two.

So money is definitely options.

So cool.

Excellent.

Jax Kreider, I appreciate that you are on the show.

I. I think we have pretty well aligned theories and thoughts and attitudes about money.

I think money is such an emotional topic.

I love what you're doing with your clients and we will certainly, certainly have your links in the show notes.

Make sure you check out jackscreider.com and until next episode, I wish everybody a blessed week.

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Please consult a qualified financial professional before making any financial decisions.

And here is your bonus content for this week's episode.

So today we talked with Jax Kreider she does mortgages.

When you get a mortgage, it's a huge financial decision.

So make sure that your entire financial team are working together on big decisions.

So your financial advisor, your mortgage broker, your cpa, your attorney, your cfo, all of these people need to be working together to make sure that the decisions that you're making align with your other decisions.

And yes, typically, your financial advisor is the quarterback of that team.

All right, everybody, have a great week.