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Episode 65: Take Your Passion from Liability to Asset with Phillip Ramsey and Bryan Dewhurst
158 Plays5 years ago
When you bring a new mindset to something you’ve commonly done, you get uncommon results. Encouraging people to follow their dreams is not new. But how do you put a plan into place to gain traction so you can follow your passion?
That’s what we are exploring in this episode. There is a story about Fast and Furious actor Paul Walker that resonates with our approach to wealth management. We get into the details in this episode, but the crux is this: his passion was financially unsustainable until his advisor helped him with a mindset shift, turning his passion from a financial liability to a financial asset.
That is at the heart of what we help people do. In this episode, we use Walker’s story to talk about the challenges and ultimate rewards of investing in yourself. Whether life is smooth sailing, or you’ve lost your job, or are doing something you don’t like, or you’re living in fear, now is the best time to double down on your gifts and think differently.
And if you need help thinking differently or looking at your situation with a different perspective, that’s our passion. We’re here to share our passion with you and help you find a path forward with your own passion.
what you will learn in this episode:- How to move your passion from a liability to an asset
- The mindset shift that can make it possible to build your passion into a business
- Why making money doing what you don’t love is a hard slog
- How to start a plan to move toward monetizing your passion
- The art of feeding that Jumanji drumbeat inside you
- Why entrepreneurship is becoming more and more prevalent
- How to move from a side-hustle mentality to a business mentality
- How COVID-19 is teaching us (once again) that the “safe” job may not be so safe
Recommended
Transcript
Introduction to The Uncommon Life Project
00:00:02
Speaker
Everyone dreams about living an uncommon life, but how we define that dream is very different for each of us. And for most, it's a lifelong pursuit. Welcome to the Uncommon Life Project podcast. We're going to introduce you to people who are living that life or enjoying the journey to get there. We're going to also give you some tools, tricks, and tips for starting or accelerating your own efforts to live an uncommon life, a life worth celebrating and savoring.
00:00:30
Speaker
Please welcome your hosts, Brian Dewhurst and Philip Ramsey. Hello and welcome, everybody, to another episode of your favorite show, The Uncommon Life Project. I'm your host, Philip Ramsey. And I'm Brian Dewhurst. I'm all hyped up on Mountain Dew Chip. Cannot wait for this show. It's a duo cast between Brian Dewhurst and myself, Felipe Ramsey.
Case Study: Paul Walker's Financial Journey
00:00:51
Speaker
We are going to talk about, I would say a case study in a way, about two people that really helped galvanize how Brian and I think about helping other people. When we heard this story, it was like, wow, this really resonates with us and how we want to build our practice. What is the story we're going to talk about today, Brian? It's going to get a little fast and furious in here. We're talking about
00:01:18
Speaker
The story may be the unknown story of the Fast and Furious franchise, movie series, Paul Walker and his financial advisor. Cannot wait to jump into this. If this is your first time listening to us, thank you for tuning in. We are advisors that like to put you in control of your plan and your finances.
00:01:39
Speaker
by helping you unlock your passions and what is it that makes you excited and tick. And we try to monetize those things. So we'll give you a customized plan to that financial freedom. Give us a call, schedule your 15 minute appointment. We would love to engage with you and hear what is uncommon in your life.
00:01:57
Speaker
and some ideas that you have. And we'll also give you tips and tricks. This podcast is one that hopefully will inspire you and also help you understand how we think as advisors. So, Paul Walker.
00:02:11
Speaker
Where do we begin? Where do we begin? Yeah, so I want to say I love this story for so many reasons, but I think it's a really good microcosm of what we're trying to do as a firm and the message that we're trying to promote. And so I think it ties up in a bow.
00:02:29
Speaker
very succinctly what we're trying to build here with uncommon wealth and that this looks and feels different to everybody. And we just shot a podcast and you were you were waiting the story like the guy we sat you sat down with a couple for the first time and he's like, so you want me to buy a rental property? You're like, absolutely not.
00:02:50
Speaker
Yeah. And so, and then as you peeled the onion back between he and his wife, it was actually his wife's gifting that they decided to actually press into and start a business with. And it was something that she had felt let in, you know, and gifted in by Jesus, you know, God for over 20 years. And now she started to tap into that. And I think this dovetails on that and perfectly encapsulates what we're trying to say. And it's, you know, Hollywood. So maybe it's a little more relatable.
00:03:18
Speaker
And I think I need to caveat
Transforming Passion into Business
00:03:19
Speaker
this. If you want to schedule your 15-minute call, our company's name is Uncommon Wealth Partners, and our website is uncommonwealth.com. That's where you can come in and schedule your 15-minute call. I don't know if I've ever actually said that. So, a huge whiff. And the fact that our podcast is the Uncommon Life Project probably isn't, you know, in hindsight, you know, hindsight's 20-20.
00:03:40
Speaker
But here's where we're at. So please honestly schedule it, but let's get into the story. Okay. I want to caveat this. We obviously, we don't know Paul Walker and we did not know his advisor. So we're putting this together based off things that we've read and our own experience of doing this for people every day. So story based on true events.
00:04:03
Speaker
Right. Yeah. I mean, there's, you know, if you Google this, there's articles and stuff about it. It's, it's, you know, like, we're not making this up. This is a, this is the real thing. But we weren't involved. So, and it happened a long time ago. So I think that's a good caveat that we're speaking about it in general. So
00:04:19
Speaker
Really, Paul Walker was the lifeblood of this franchise, Fast and Furious, and partly because he enjoyed racing and fast cars personally. So, offset, he raced cars. He raced to Porsche, I believe. I'm a fellow Porsche fan, so one similarity. I love Porsches, don't own one, but would love to at one point in the future.
00:04:44
Speaker
So he raced cars personally as a hobby outside of his acting career and did that for several years. The story goes that basically, you know, he did this for several years. Obviously the franchise, the Fast and the Fierce was a hit.
00:05:03
Speaker
but that he was really spending millions of dollars racing as a hobby. And really kind of got connected to a financial advisor in California who was successful. Let's talk about that. Because I have a feeling he had a passion of racing his whole life. And then he got into acting. And then when his acting and the first Fast and Furious started becoming successful, I have a feeling that a lot of that money monetarily went into what? His passion.
00:05:28
Speaker
Right. And so it was a passion that was probably there for a lot longer before he was a successful actor. And so anyway, it's just kind of No, yeah. And I think that's what we all do, you know, is we're absolutely we're taught to do something, go make money at it. And then that will give you a little bit of time freedom, but the financial resources to go do what you're passionate about on the side. That's a great point. And, and so we'll follow the story. And we'll kind of show you why you need to turn that
00:05:57
Speaker
maybe on your head because you don't have Hollywood revenue from movies like Paul Walker did. But anyways, as he started to mature, and as his hobby got more expensive, and as he made more money, you know, basically, however he got connected to this financial advisor, he got connected to him. And
00:06:18
Speaker
basically the way I heard it was he was spending lots of money on racing and it wasn't sustainable. Like if something happens, this fast and furious franchise or something happens to his cashflow, it could create a problem. I don't know what financial situation he was in, but anyway, so he gets connected to this advisor.
00:06:37
Speaker
And the advisor kind of restructures, you know, he kind of just had a hodgepodge of stuff, as the article says, and basically helped him, you know, structure kind of like a conservative portfolio and, you know, liquidity and all this stuff. But the real main vein is what he really helped Paul understand was that, hey, you're spending a ton of money on this hobby and racing and you're not deducting it and you're not creating a business around it. So it's always going to be an expense.
00:07:05
Speaker
What if you turned your racing passion into a business that made money? Well, now it's not going to financially drain you. It's going to be an additional asset that complements your overall movie franchise and your overall passion so that you can do it from a business standpoint, probably largely deduct it and have another asset beyond your movie assets.
00:07:31
Speaker
Yeah. Paul Walker's advisor was doing uncommon before uncommon was cool. Right. And so that's what they started doing. So they ended up actually owning the business together. They set up an extra, I don't know if it was like extreme, but like basically like an extreme racing company, like car parts, aftermarket, super, like the show, you know, like the movies.
00:07:52
Speaker
They basically worked on cars and, and soup them up to race them, um, like racetrack stuff. Uh, and, and they, the two of them were racing Porsches. And I think there's like a Porsche circuit that you can race in, you know, kind of like a minor league racing type thing. Um, so that's what they did. And, and they did that for several years together and it became a real asset to Paul and his plan and.
00:08:17
Speaker
and then obviously shored up kind of the financial drain that his hobby was but then also really gave him something that could have gone beyond his movie franchises if that stalled out or whatever.
Lessons from Paul Walker's Story
00:08:32
Speaker
So we all know the story I think is tragically they crashed a Porsche
00:08:38
Speaker
and they both were killed. And it was a bad accident. I don't know the particulars of it all, but yeah, they lost their lives in that deal. And I think the reason that we wanted to highlight this is because this is what we're trying to get people to understand.
00:08:54
Speaker
is you want multiple sources of income and you want to have multiple assets. And I don't know what Paul's royalties were, his contracts for those movies from when it started towards the end. I'm sure he was taking more of a cut.
00:09:10
Speaker
And if he was producing them and whatever, there's more upside financially to him as that went on. But he probably had some sort of royalty income off of that franchise. And now he has this professional racing business that he owns with his partner to help facilitate their passion of racing.
00:09:32
Speaker
And that in and of itself is what we're trying to show people is so powerful. And now their kind of story ended a little bit more tragically, obviously, but the principles of what they were doing are very important. And he had safe money and they invested and he had liquid assets and stocks bonds and all that stuff. Like we do that too. And that's part of a plan and life insurance and all these different things is part of a plan.
00:10:00
Speaker
I'll stop there. Let's talk about that. It's part of a plan, but for Paul Walker, that traditional stuff was not the exciting part of his plan. What was the most exciting part of Paul Walker's plan? I think it was the racing thing. I do too. That's what he was passionate about. And I think the acting almost complemented the racing thing, which was more of his passion.
00:10:20
Speaker
Maybe not, like we probably can't really say that, but it could, right? So this is what I would say. The cool thing about this is the mind shift that just happened with Paul Walker when that advisor came to him and said, hey, I see that you have a huge passion. Let's look at this a little different. Let's look at this like an asset instead of a complete drain on your finances. But let's have you keep doing what you love to do, but let's just change a couple of things and let's try to make a business out of it.
00:10:50
Speaker
I love this because this is what we get to do every day. Totally. I know how that is to be in the same room when you help people have this epiphany of like, wait a second.
00:11:03
Speaker
That sounds really exciting to me. How do we do that now? Like now it's a problem. Sounds great. Yeah. So now it's a problem of like, okay, there is the goal and, and we're working together to try to solve that goal. But that goal is something that really gets you excited. So the obstacles and the challenges that come are kind of like, well, yeah, I mean,
00:11:24
Speaker
I just need to overcome it. But I know my why. I'm super excited about it. And we're going to figure it out. Yeah. And they ended up doing that. Now, what I like to talk about, too, is the complimenting that it had for those experiences and passions. Like, it wasn't like, hey, I want to go start a farm. Right. I don't know farming. That wasn't it. And that's where you kind of briefly mentioned when I met with my pastor and his wife. And he said, so you want me to have a rental property?
00:11:52
Speaker
And I was like, well, probably not, but, you know, like, I don't even know if that's your passion or gifts, but that's some people's passion and gifts and it works really well. That's not everybody's passion and gifts. In fact, it could be a huge distraction if we try to put something that isn't part of your overall like experience and your giftings and what you get excited about. And so that person, go ahead.
00:12:15
Speaker
Well, no, I think you're dead on and I I'm not trying to boot. I know I'm not trying to. I love the Fast and Furious franchise. I'm going to say that. But I want to make a point. I know where you're going. I know where you're going. Could you name one other movie that Paul Walker was in? No, no. And I don't say that. You know, I'm sure Samuel L. Jackson, he's done like the most movies of anybody. I'm sure he's got movies like I wish I would have done that one. You know, like we all do. Right. Right. So.
00:12:39
Speaker
But his best series was what he was most passionate about outside of the theater. And I don't think that's a coincidence. And so I think that's what you're trying to say. And then the last thing I'd say, because we did have your pastor's wife on the show,
00:12:56
Speaker
The yoke is light when you're doing what you're gifted in and like you could see when you read about Paul Walker, like he was very charismatic, very outgoing, very adventure adventurous with the racing, like just larger than life. He was that guy full, full out his whole life because he was doing what he was passionate about. Right.
00:13:18
Speaker
And so I just wanted to share that. There's so many principles in here, but man, this is what's happening now. Like I'll be playing Ultimate Frisbee and somebody's like, Hey, listen, this is just really happened. I listened to your podcast and I was like, Oh my goodness. Like, thanks man. Like, which one did you, which one did you listen to? He's like, no, I listened to all your podcasts. I was like,
00:13:39
Speaker
Oh, my goodness. That's amazing. He's like, I can't wait to talk. I got a couple ideas like, oh, I can't wait to talk either. Like, how do we help encourage stuff like this? Because there's just not a lot of people out there doing that. And this is the best part. I was like, how what number of this is your what idea? How many ideas have you had before you got to this one? He's like four. And I was like, what happened? He's like, your advice about running it past your wife. He's like, the other three never got past her.
00:14:09
Speaker
I can't wait to meet with that guy. But here's the principle I want to talk about. Sorry, I got sidetracked. When Paul Walker started thinking about putting his passion, making a business around his passion, the control went to who?
Aligning Passion with Financial Plans
00:14:21
Speaker
It went back into Paul's court. And these, I can only imagine, I don't know the actor world or being an actress or whatever. Like I have no idea about that whole industry. But what I imagine is if there's a lot of waiting, when's the next show gonna get out? Is it gonna be good? What's my contract? Like all good stuff that people have to manage. But when you have something that you can control and keep working on on the sideline,
00:14:47
Speaker
It makes everything like just open up so now he's not waiting by his door his phone to get that call totally he's working on something over here that he cannot wait to do and when he does get that call that it can help fund this other stuff i would say like a lot of professional athletes.
00:15:04
Speaker
would really benefit from uncommon wealth partners to be able to sit down with them and say like, I know that this is your passion now, but what else is your passion? And how do how about we start investing in some things like that? Because what I think is happening is they go meet with a traditional advisor, that traditional advisor puts them in like all this traditional stuff, which isn't very exciting. So then they just end up spending a whole bunch of money anyway.
00:15:27
Speaker
Then they get done being a professional athlete and like, wait a second, did I amount enough wealth? What do I like to do? It's just like this, I don't know what's going on. So you're not a professional athlete. Most of the listeners that we have aren't professional athletes. So how does this work for you? I think a lot of people are working at a job that they don't love and they're not passionate about it. And they're trying to accumulate enough wealth to get to retirement and then do what they're passionate about.
00:15:56
Speaker
And we would say, have a mind shift, have a Paul Walker moment. What is it that you are super excited about? And you almost think to yourself, it's so easy for me, no one would pay me. And then how do you start a plan to start going towards that passion?
00:16:14
Speaker
And even if it's the smallest, most conservative plan that you'd ever thought, and it really does go down to risk tolerance at that point. A risk tolerance of like, Hey, I'm going to cut and quit my day job and go straight into this. That's a high risk tolerance. You also could have a very conservative risk tolerance and say, listen, I'm going to start blogging on the side or whatever.
00:16:33
Speaker
Um, or whatever it may be, but, and start stepping into something that you get excited about and seeing this passion and love this drum beat inside of you, the Jumanji drum beat inside of you. Like, how do you start hitting that drum harder? Cause once you hit it once you're getting in the game. Yeah. Just a matter of way. Well, and whether you believe in God or not, when you, when you go into the way you're gifted.
00:16:57
Speaker
You're gonna win. I mean, yeah, you might have some bumps and bruises, not saying that. Some things will go wrong, for sure. It's happened to us, for sure. But on large part, God is gonna meet you there. And even if you don't believe in God, there's gonna be fruit there. You know what I'm saying? This is definitely not a prosperity gospel either.
00:17:18
Speaker
because you might win by completely falling on your face. But what's the difference between you putting your money into a stock and it goes to zero or you putting your money on something that you're passionate about and it goes to zero? The difference is you have going to learn a ton more when you invest in yourself. And at the end of that, you're going to be able to have an experience that is going to help you in things in the future versus a stock.
00:17:43
Speaker
you didn't learn anything other than not to trust that advisor to put it in that stock or never do that again. So it's not a prosperity gospel thing. It's just, we have seen people who have done time and time again, jumped off the cliff and it has gone so wrong. And at the end of them, all of them say, I would never have done it different. Like we have a friend and a client that jumped off and it's in the middle, like started right before COVID, like
00:18:10
Speaker
Right before the worst timing. And at the end of it, he was like, I never would have jumped if I knew what was coming down the pipe. But he's like, now that we're kind of in the middle of this thing, he's like, I am so grateful that I did it. Like, that gives me goosebumps. It gives him purpose and direction. You can't put a rate of return on regret.
00:18:36
Speaker
You don't want to come to the end of your life like, oh, I wish I would have done this. I wish I would have done that. Life is too short. And God wants us to be uncomfortable. He wants us to use our gifting because it requires us to trust Him more. We aren't supposed to be comfortable.
00:18:55
Speaker
And so I just think this, this is like the topic, you know, there are ways to monetize what you are passionate and gifted in. And we are here to help you if you need help with that. If you are stuck.
00:19:11
Speaker
This is what we do. So to your point about you can't put a rate of return on regret. I remember Jane who came to us and long story short, she got this settlement because something happened long story short. And she came to us and we started asking her questions. This is a long time ago. I can't even tell you how long. It's a while.
00:19:34
Speaker
And at the end of it, we realized that she was really good at basketball. And this... Playing collegiately. Right. This accident kind of took her away from her goals and dreams and she was on a path, you know, to go get it.
00:19:49
Speaker
And I think I'd say, let me interrupt you. And then, you know, basically she gets this settlement money. Um, it was a temporary injury and then, you know, everyone's urging her to like, Oh, you need to save and invest this and do it wisely. So keep going. No, that's a great point. Thanks for saying that. So she comes to us saying like, I guess I got to invest it. And after talking to her, we realized that like she was on a path and this derailed her path. And so Brian said, how much money monetarily do you think it would cost for you to go after this?
00:20:19
Speaker
to become a professional women's basketball player. Right. Thank you.
00:20:23
Speaker
And she's like, I don't know. So we did the math and it was not as much as her settlement was. And this is what Brian said. And I thought it was great because it ended up, she ended up going and trying it. She said, I'm not sure. And Brian said, well, what's the cost of you not doing it? Like, let's say you're now 40 and you're sitting in your chair with three kids or whatever. Like, what's that cost to you? And she's like, not as much as it's going to cost for me to try it. And she did.
00:20:49
Speaker
She went after it. She went overseas and played, Australia, Australia. And, um, that ended up putting her on a path. I don't know where she works now. We haven't connected. I think she's still a Gatorade Gatorade. Yeah. But like, it was so cool for her to like go and pursue that. And because of that, now she has a job that all those experience added up to her loving what she's doing. So what a cool thing to be a part of every day. We got to do this. Pinch me. Let's go.
00:21:17
Speaker
Yeah. And I think there's a deeper meaning for me. It's just, I heard a statistic and I, you know, you go through this COVID thing and it's really made me think about this more and more and kind of Uber and all these new Airbnb.
Shift to Entrepreneurship and Self-Employment
00:21:32
Speaker
Like in early 1900s, it was like 80 or 90% of the population was self-employed, you know, because you're expanding the country and people are opening up shops and businesses, all the different kinds of stuff. Now it's like less than 10% of people are self-employed or owning a business. And I think you're gonna see that pendulum shift back. You know, we had this industrialization, this institutionalization of everything, this corporatization of everything.
00:22:02
Speaker
kind of the centralization of everything, these big words, you know, like these big companies and all this stuff. And now with like TikTok, Facebook, all this stuff, you know, you can start a YouTube channel and have 5 million viewers that some movies in Hollywood don't even get 5 million views. You know what I mean? Sure.
00:22:19
Speaker
And so the internet has deinstitutionalized so many things, media, news, video for sure. And I think as you see with cryptocurrencies coming, it's going to deinstitutionalize finance.
00:22:34
Speaker
And it's going to take time, but I think we're seeing the pendulum shift back towards more and more people being self-employed. We're hearing a lot, you know, in the, in the fire community, financially independent, retire early movement, uh, kind of like the side hustle language and, and side hustles are great, but why don't you start a business? And I think that's why we keep coming back to this Paul Walker story is like, he didn't need a side hustle. He was spending millions of dollars racing Porsches.
00:23:03
Speaker
He needed real money. He needed a business. And if you have a family, wife, two kids, two cars in the garage, you need money. And business does that. And I think a lot more people, especially a lot more Christian people, are capable of that than they think they are.
00:23:19
Speaker
And it just you don't go to school for that, you know, you don't call mom and dad like, hey, I'm starting a business like what, what are you doing? You don't do that. You need benefits and all this stuff. And so I think this pendulum is swinging the other direction. We want to be part of that pendulum swinging. Right. And we want to walk right. I hope that that's true. I feel like this COVID thing is really
00:23:41
Speaker
shaken a lot of people. And here's what I hope that it, I hope you're right. And that's what I'll just say is I think there's a lot of people who felt they had a safe job. They had a safe job with a big company and what they're finding is they don't. And now they're getting cut and they had no reason why other than like, we don't need you anymore. We're downsizing or whatever. It's not as safe as people think. And I would say like when I hear somebody losing their job, I just heard about this yesterday, one of our
00:24:09
Speaker
Clients lost job right there. Let's work through this but it was like he had a very safe job and we talked to him two weeks ago He's like, yeah, no, I everything's good Nothing changing two weeks later done and so what I was thinking right at that moment of like I am so grateful that I control this thing that I I know if like I'll have a job tomorrow and like I can confidently know as confidently as I can say that and
00:24:34
Speaker
I'm good. And so you've been through that too in your pharmaceutical days and I have the Obamacare cutting almost 400,000 people in the pharmaceutical world in about two years. It was real. And so I realized that things might not be as safe as you play them out to be in your head. And so I hope you're right that people are starting to get this, like start your retirement, start a business, like let's go.
00:24:58
Speaker
It was interesting. I think I talk about this a lot, but I'm on Twitter. I like Twitter the most of all the platforms. And this guy posted this tweet and I just thought of this, but I think this is the future.
00:25:12
Speaker
He goes, my buddy just accepted two job offers because both are work from home. And he's like, the guy was like, well, neither of them will know that I took the other job because I don't have to go anywhere. I don't have to go in. There's no physical presence. And you know, we, we utilize some contractors to help us with certain things. And they're literally all over the country.
00:25:34
Speaker
Like, we don't preclude them from working with other people, you know? And so, I think that's where this is headed, is people are going to work for two people. They might work 20 hours for this company and work 20 hours for that company. And those companies don't care because they're getting the level of work they need for the 20 hours and that accountability, you know? As long as you're up front, I think that's good. If you try to be shady about it, I don't know.
00:25:59
Speaker
condoning the shady part of it. But I'm saying like, a lot of people are working two jobs, you know, my grandma worked two jobs for pretty much her whole life, you know, and you're doing it like, I'm working full time for this one and part time for this one. And it's, it's rigorous.
00:26:14
Speaker
And that effort could also be applied to what you're gifted at. And it's gonna be hard and rigorous too, but at least you'll have a lot more control if something goes wrong. And so- And this is what I love about this whole Paul Walker thing. His advisor didn't tell him not to do it. He said, do this in a different way. And like, this just might be my personality or how I'm built or my DNA. Like, I love when I can have a different mindset on something that I've always done in a common way.
00:26:44
Speaker
I love it. It like brings a whole nother perspective or a whole nother excitement level on me. And I say like when you have kids, if you have any kids, like seeing life through their eyes is so exciting. We're going to the park for the first time, like watching your kid experience of that. So there's a lot of things to get excited about. But when you have a different mindset about it, things start opening up because you realize like, wait a second, there's another way to look at this.
00:27:12
Speaker
And Paul Walker was challenged. So part of it is getting around people that will challenge you. Like, hey, why are you have that account over there when all you want to do is adopt a kid and you don't have enough money in your savings account to do it? You have a lot of money in your 401k, but it doesn't help you right now. So being careful about locking your money up into things that really take you away from starting something you're passionate about or putting a business around something you're passionate about.
00:27:36
Speaker
And I think you always say, I think it's great, you know, losing your job is probably one of the best things that can happen to you. Can I get it? Amen. And so for anybody listening in this COVID time, if you've lost a job or you're down or you're depressed or you're doing something you don't like, or you're living in fear, this is the best time to double down on yourself and think differently. And if you need help thinking differently or looking at your situation with a different perspective,
00:28:02
Speaker
We'd love to help you with that because that's what we do. You look at the great investors, Warren Buffett and some of these big guys and they come in and buy really good companies in situations like this. You want to act like that and you want to get your house in order to act like that. It starts now. It's not too late to invest in yourself. It's not too late to try something. This is the best time to do it.
00:28:30
Speaker
I'll leave it there. Yep. And I think this is, this is something at least to note is you don't have to be a salesperson when you're passionate.
The Power of Passion-Driven Success
00:28:40
Speaker
It's just get excited about what you get excited about. We're not asking you to do anything that you're not doing already. We have had some amazing people pitch some amazing things that we are not passionate about. For example, heifers. I'm sorry, what? Moo? Yeah, heifers. After you heard his passion, after we challenged him a couple of times, we decided this is probably the best investment for you.
00:29:05
Speaker
Like, let's go after and do it. And like, his passion is what sold us to build a plan around something that he was passionate about. It sold us. And I'd say that he would say, he's like, I'm not a very good salesman. I'd say baloney on that deal. Sold me. And at the end, I was like, can I invest in heifers? Can you just do what you're going to do? So let's have a mutual fund.
00:29:26
Speaker
So anyway, that's our story about Paul Walker. And man, it gives me goosebumps to think that there could be people out there listening and their brain is just turning of like, okay, what is it that I like would love to do? And when you figure out what that is, my question to everybody is when do you want to retire from that? And the answer is like, what? I would never want to retire from that. Now we've got something that we want to go on this uncommon path with.
00:29:51
Speaker
So that's why you listen to the show, right? Yeah. And I think the last thing I want to say is just encapsulate what you just said is once we started with Paul Walker, we'll end with Paul Walker. Yeah. His whole life that we're talking about his movies, franchise, his business, and then actually getting in the seat and driving was racing. And like you see that exuded in multiple different fronts and peeling back the onion
00:30:20
Speaker
of that passion. You know, it'd been very easy for Paul Walker to be like, I'm going to go buy 20 Papa John's and I'm just going to get pizza. And there's nothing wrong with that. I'm not saying that there's anything wrong with that. Peyton Manning actually did that. He talks about that. He bought 20 Papa John's in and around Denver right before they legalized marijuana. And he kids about his great investment.
00:30:43
Speaker
But he also has a school that he teaches other quarterbacks. He and his brothers and his dad run a quarterback camp is actually like their passionate focused business.
00:30:54
Speaker
peeling back the onion of that passion and expertise, you can monetize it multiple different ways and share it with the world in multiple different ways. And that is what we're trying to talk about and help people with. And so I think Paul Walker in the story is a great example of using that passion and racing multiple different ways and staying in that kind of center sweet spot that he was created to
Conclusion: Live Fully and Pursue Your Passions
00:31:24
Speaker
be in.
00:31:24
Speaker
Totally. And I'm going to just say it, not to be morbid, but like we're not guaranteed tomorrow. Like this was not part of Paul Walker's plan.
00:31:32
Speaker
Obviously, but the fact is like we've got something like we're not guaranteed tomorrow So how are you living today? And to me that's where I get excited because it puts everything in perspective quickly. What's important to you? How are you gonna live today the best you can so you've been listening to the uncommon life project I've been your host Philip Ramsey and I am Brian Dewhurst. Thank you for listening. Loved it. Thanks for tuning in. Talk to you later. It'll be uncommon. Love it. Bye
00:31:59
Speaker
That's all for this episode of The Uncommon Life Project, brought to you by Uncommon Wealth Partners. Be sure to visit uncommonwealth.com to learn more about our services. Don't miss an episode as we introduce you to inspiring people who are actively pursuing an uncommon life.