How Do YOU Define Financial Safety?

Posted on May 8, 2017 by Trevor Hammond

financial_security_iStock_000022334703_Full

This is a question I’ve studied and asked people for many years now.  The answers vary and also tend to change over time.

So how do YOU define financial safety for yourself?  For your family?

  • Having no debt?
  • Lots of money in savings accounts?
  • Enjoying a low-cost lifestyle?
  • Being mortgage free?
  • Earning a high income?
  • Job security?
  • Having lots of “stuff”?

What else?  What, above all else, would help you sleep better at night and feel safe and secure when “life happens”?  Because we all know it will.

Once you define what Financial Safety means to you, you get to work building it and maximizing it.    There’s not much worse than financial stress and anxieties around money.

But go deeper than your first answer.  Often times the true definition for you personally is a few layers behind your initial thought.

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Debt Happens – It’s How You Repay It That Matters

Posted on May 1, 2017 by Trevor Hammond

debt

Whether it’s your mortgage, money owed for home improvements, car loans, student loans, or last months’ vacation still on your credit card, most of us have debt.

Debt comes and goes.  You pay off everything, and then decide to remodel your kitchen.  Your paid-off car finally breaks down and you need to get a new one.

Debt is a part of our lives.  But having debt is not necessarily the problem.  How you pay back your debt is what counts.

With that being said, do you have a DEBT REPAYMENT plan?  Everyone wants to be debt free…but rarely do they have a specific, measurable, and actionable plan to achieve this goal.  And without a plan, goals can rarely be achieved.

So what can you do about this?imageedit_1_9586870040

With the new release of my book, Borrow Smart, Repay Smart, I figure it’s time to remind everyone that our Mortgage Advisors are trained on a custom process designed to help homeowners create a plan to get out of debt faster, and easier.  It’s called The Repay SMART Review™.  You can schedule one by emailing your preferred Mortgage Advisor at Sierra Pacific Mortgage. It’s that simple.

Some of the answers this process will provide are:

  • Where should you start? Meaning, which debts should you attack first, and which debts should you just pay the minimum?
  • How do you balance your goal of paying down your debt AND putting money into savings?
  • Do you focus on the highest interest rates or the lowest balances first?
  • How do you reduce the net cost of your borrowing over time?
  • Should you pay extra toward your mortgage, or save that money instead?
  • And the best one…what’s your DEBT FREE DATE?

We do NOT charge for this service.  It is COMPLETELY COMPLIMENTARY.  Why?  Because we believe that it’s part of our responsibility to help you better manage your debt and find ways to free up cash flow to save more for your future.  It’s one way we give back, and it gives our career a purpose far beyond handing out mortgages.  So there are no hidden strings here.  It’s what we love to do!

And yes, when we do this well and give back in this way…people do tend to choose our Advisors for their mortgage services when needed.  But it’s up to you to take action.  It’s your debt.  It’s your cash flow.  It’s your future.  Call or email, and we can help.

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How Can You Have More Fun At Work?

Posted on April 24, 2017 by Trevor Hammond

fun-office

Interesting question, eh?  It was one that was posed to me recently, and it really got me thinking.  How about you?

In some ways, I make having fun a certainty at our company.  Every 90 days we have a team outing to celebrate our progress over the past quarter.  Teams are put together at the beginning of the year, along with a budget, and they get to come up with whatever they want for our entire team.

We also implemented the Awesomeness Jar.  This is cheap and simple, but throughout the month every teammate is encouraged to recognize a co-worker who’s gone above and beyond…or was “awesome”.  They then drop a nomination in the jar and at the end of the month the most awesome person wins a fun little gift.

cornhole4We also host Partner Appreciation Events every other month, with fun themes like Rejuvenation, Mad Men, Old West, and 80’s Rock.  The office gets decorated, props are set out for guests, and we tend to have 30-50 business partners come each time to enjoy food, drinks, and a bit of networking.  We even introduced an office corn hole set this year!

Those are just a few of the things that came to mind that we already do when I was asked this question.  But what else could I do?  What can YOU do to have MORE fun at work?

  • Add some new decorations to your office or cubicle?
  • List some new habits you want to create this year and track your progress?
  • Let go of some of the activities that annoy you the most at work (assuming you’re allowed to)?
  • Take a more active role in something?
  • Start a charitable event?
  • Bring a golf putter and putting machine to work for break-time putt-offs?
  • Corn hole, darts, foosball, pool table? With an ongoing tournament?
  • Book club, to encourage learning and growth amongst your teammates?

Give it some thought.  I know I will continue to.  When you think about it, we tend to spend more time with our co-workers than anyone else.  It can seem sad to put it that way…OR…we can make it fun and something far more than a J-O-B.

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What Books Will You Read in 2017?

Posted on April 17, 2017 by Trevor Hammond

For many years I have based personal and business decisions on this philosophy:

“Who you are ten years from now will be a result of the books you read and the people you spend time with.”

This quote is an adaptation of the one by Charles Tremendous Jones and has been a guiding principle for me as I’ve worked hard to surround myself with the people who represent where I want to go (rather than where I’ve been).  But for this article’s purpose, let’s focus on the reading part of this philosophy.  And I don’t mean fun, fiction books!  (Though I enjoy them each night before going to sleep.)

My 2016 Reading Accomplishments

booksEvery year I have big goals on reading a lot of books on personal and business growth.  Here is a picture of my accomplished reading in 2016, with 21 great books consumed and added to my knowledge vault.  Some were on my list at the beginning of the year, and a few more got added throughout 2016 as gifts and recommendations from others.  As the visionary for my company and team, as well as a coach, a husband, a father, etc. reading great non-fiction books gives me the fuel to grow in all areas of my life as well as be valuable to others.

*Special note:  Of the books in the picture, TRACTION, by Gino Wickman, had the biggest impact of all.  It is an absolute must-have for anyone running a business or leading teams.  It will be a guide for me every year.

Interesting Statistics

  • 33% of High School Graduates never read another book the rest of their lives
  • 42% of college grads never read another book after college
  • 80% of U.S. families did not buy or read a book last year

In addition, according to Grant Cardone in his book, “The 10x Rule”, the most successful CEOs are reported to read an average of 60 books per year…whereas the average American worker reads an average of less than one book and makes 319 times less income.

My books for 2017

Now, on to the good stuff…my reading for 2017!  This year I have decided to limit myself to TWELVE highly recommended books that I believe will play a big role in my continued growth and leadership capabilities.  I don’t want to read just to read; rather I want to study those books that will help me be the best leader, teammate, business person, coach, husband, father, son, brother, or friend I can be.  So, without further ado, here is my reading list for 2017:

ToT

  1. The Holy Man – Susan Trott (completed!)
  2. Thinking Fast and Slow – Daniel Kahneman
  3. Pitch Anything – Oren Klaff
  4. The Daily Stoic – Ryan Holiday
  5. Tools of Titans – Tim Ferriss (My early favorite!)
  6. Pre-Suasion – Robert Cialdini (Reading again)
  7. Mindset – Carol Dweck
  8. What Doesn’t Kill Us – Scott Carney (complete!)
  9. The Self-Managing Company – Dan Sullivan
  10. Addition Through Subtraction – Shannon Waller (complete!)
  11. TBD
  12. TBD

As you can see with numbers eleven and twelve, I’ve learned to leave a couple spots open now for top recommendations that will come along this year!

What books are on your list to read in 2017?  How’s your progress so far?  If reading hasn’t become an “acquired taste” yet for you, start with some small goals such as one book per quarter.  Four books in a year puts you eons ahead of most others.  Block out just 15 minutes in the morning to create a new habit of reading.  Let me know how it goes!

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The Top 10 Things I Learned in March

Posted on April 10, 2017 by Trevor Hammond

learn.pngEach month as I invest time in my personal and professional growth, I keep a running journal of the top lessons I learn throughout each day.  If you missed last month’s lessons, here you go.

This month includes some quotes, kicking off with some Tony Robbins who I saw in person in Portland in March.  I’ve also added some personal notes this month to some of the lessons.  Enjoy, and please provide any thoughts or impact these might have on you!

  1. “Life is always happening FOR us, not TO us. It’s our job to find out where the benefit it.” – Tony Robbins
  2. “Losers react. Leaders anticipate.” – Tony Robbins.  (NOTE from Trevor:  I can’t tell you how much I love this!  And I’ve repeated it to many times in the last several weeks, to teammates, my kids, etc.)
  3. “What you know doesn’t mean sh*t. What do you DO consistently?” – Tony Robbins.  (NOTE from Trevor:  Yes, he tends to swear a lot if you’ve ever seen him live, but it gets the point across.)
  4. “Investing in yourself is the most important investment you’ll ever make in your life…there’s no financial investment that’ll ever match it. Because, if you develop more skill, more ability, more insight, more capacity, THAT’S what’s really going to provide economic freedom.”  – Warren Buffet.  (NOTE from Trevor:  This has been a mantra of mine since I was a wee bitty 20-something “kid”…thanks to Jim Rohn’s advice of “Work hard on your job, you’ll make a living.  Work hard on yourself, you’ll make a fortune.”)
  5. Success doesn’t have to be complicated. Just start with making 1,000 people extremely, extremely happy. – Excerpt from Kevin Kelly’s 1,000 True Fans.  (NOTE from Trevor:  This is from 1000 True Fans, written by Kevin Kelly but you can find it in Tools of Titans.  If you don’t have this book, log in to Amazon.com and buy it now!  No really…NOW!)
  6. Take a look at your obligations from time to time. How many are self-imposed?  How often do I say “yes” to things I wish I had said “no” to?  How many are truly necessary?  Am I as free as I think?  (NOTE from Trevor:  Deep thoughts on how busy life can be…and are we spending time on THE most important things?)
  7. “If you would not be forgotten as soon as you are dead and rotten, either write things worth reading or do things worth writing.” – Ben Franklin.  (NOTE from Trevor:  Thanks for reading my blog post. 😉
  8. Too often we want the past to be better than it was, and the future to unfold exactly as we expect it to. Doing this causes us to neglect the present moment…which is really all we have.
  9. Others cannot make me feel “stressed” or “upset”. That’s on me and in my control.  What others say or do are external events.  It’s up to me if I then foster and emotion internally in response to an external event.
  10. Don’t just learn to know more. Learn so you can DO more.  Greater action is the only thing that will lead to greater wealth.
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The Story of the Magic Penny

Posted on April 3, 2017 by Trevor Hammond

If you had the choice between taking $3,000,000 in cold hard cash right now or a single penny that doubles in value every single day for 31 days, which would you choose?

If you’ve heard this story before, you already know that choosing the penny option is the better choice and will lead to greater wealth. But why is it so hard to believe that choosing the penny will result in more wealth over time? The answer is simply because it takes so much longer to see the payoff. Most of us can’t stand delaying our gratification. This is why in general, the savings rate in the United States is very low compared to other countries, and credit card debt keeps millions of families from achieving financial freedom.

Let’s look at the math behind the story a little closer:

Assume YOU choose the $3 million in cash in hand right now, and your best friend chooses the penny gamble.

  • On day #5, your friend has just 16 cents. You, of course, have $3 million!
  • On day #10, your friend has $5.12 cents, while you are enjoying your riches.
  • After 20 days your friend has $5,243, while you are treating your friends and family to dinner.

At this point, how is your friend feeling? He or she has delayed his or her gratification in hopes of making a smart, long-term decision as they are watching you live large with your mounds of cash. But…the invisible magic of “compounding” is about to take effect.

  • By day #31, your friend’s single penny has multiplied (or compounded) into $10,737,418.24! This is more than 3x your original $3 million!

This simple, yet compelling, story shows why consistency over time is more important. On day #29, your friend has about $2.7 million, still a bit behind your $3 million, but by day #30 your friend pulls ahead with roughly $5.4 million, beginning to leave you behind.

The magic of compounding, along with small steps taken constantly over time, is what can lead to massive success. Just imagine exercising 15 minutes every day versus “waiting” until you suddenly have 1 hour freed up to go exercise all at once on the weekend.

Darren Hardy, the publisher of Success Magazine and the author of The Compound Effect, describes success as a series of small, seemingly insignificant steps, done consistently over time.

What areas of your life could this principle be applied, so you could enjoy the results a month, a year, or 10 years from now?

baby

As always, I am here to help you and friends or family that you refer! I look forward to hearing from you.

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Q1 Assessment Time

Posted on March 28, 2017 by Trevor Hammond

reflect

Well, it’s arrived.  The end of Q1 2017.  Remember back a few months ago?  Remember how excited you were to kick off the New Year?  All the goals and aspirations you wrote down?  The anticipation of what was to come this year?  New ideas and projects you planned to put in place?  Remember??

So, how’s the year so far?  It’s one-quarter over.  What progress have you made?  What areas of your life/business/money are you proud of three months in?  Where do you need to focus a bit harder?

I take the time to assess things at the end of every quarter.  It’s very important to pause every 90 days to reflect and then plan the next 90 days.  Chunking down my year into 4 parts has been an incredible strategy for me over the years.  Here’s a start for you:

  • What am I thankful for?
  • What have I made progress on?
  • What’s working?
  • What am I frustrated with?  And what’s the ideal solution?
  • What do I need to do MORE of?
  • What do I need to do LESS of?
  • What are my top 2-3 goals for the next 90 days

Too many people just move through the year without a plan, without big enough goals.  Growth is what it’s all about.  Progress.  What gets measured…improves.  So take the time to reflect.

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The Number ONE Mistake Home buyers Make

Posted on March 21, 2017 by Trevor Hammond

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The TOP 10 Things I Learned in February

Posted on March 13, 2017 by Trevor Hammond

learning-styles

This year I started a new journal titled “What I Learned”. I am creating a habit of keeping track of the key insights and lessons I learn each day through reading, podcasts, documentaries, and time spent with others. My primary goal is to learn daily, grow daily, and build a treasure chest of life lessons throughout the year I could reflect on at any time. As I pursue this journey of personal and professional growth, I’ll share some of the top lessons and reminders with you.

Here are the TOP 10 (ok 13 this month…I just couldn’t get it down to 10 from about 50+!):

  1. My decisions need to be a “HELL YEAH” or a “NO”.   Saying “YES” to things I’m not fully confident in or excited about do me no good and leave no time for the truly “HELL YEAH!” opportunities.
  2. If I feel like I’m too “busy” or never have enough time, it simply means I don’t have my priorities in order. Hit the pause button and reassess what’s most important. What can I say ‘NO’ to? Then focus on those fewer, but more important things.
  3. Treat life as a series of experiments. This makes failure easier to accept and removes mental hurdles to trying new things.
  4. 90% of the benefit of a trip or vacation is the anticipation of it. Book them far in advance, and book your next one as soon as you’re back from your current one. (I’m headed to Costa Rica in March, and we booked it 5 months ago!)
  5. We have an activity addiction. We have become afraid of being still, so we seek out constant strife and action to fill our days/weeks/months. How can I just “be” more often, rather than “do”?
  6. “We do not rise to the level of our expectations. We fall to the level of our training.” Great reminder and quote from Archilochus.
  7. Give with no expectations. Simply trust in the law of reciprocity.
  8. You don’t HAVE to have an opinion. Practice the ability to have absolutely no thoughts about something. It removes the power a negative “thing” can have over you.
  9. Watch how you allow your beliefs to impact your behaviors. Whenever you say the belief out loud, you re-affirm it. Instead of justifying your lack of business by saying, “the market is slow right now,” ask yourself, “What’s working right now? Where am I seeing activity right now?”
  10. I can always make more money. I can never make more time.
  11. Information is in abundance. It’s everywhere. Attention is what is scarce.
  12. We can never be content or happy at the same time that we yearn for something we don’t have.
  13. “We are over lit, over fed and over stimulated. And in terms of how long we’ve been on Earth, this is all new.” – Ray Cronise, from the book, “What Doesn’t Kill Us” (GREAT book so far…I’m half way through.)

Note from me: It’s interesting to look back over the month and see the lessons and think back to where they came from. You’ll find a heavy influence from Tim Ferriss’ book, Tools of Titans; The Daily Stoic, by Ryan Holiday; and What Doesn’t Kill Us, by Scott Carney. These books are really kicking off my year with a bang!

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How Much Time Off Will You Take This Year?

Posted on March 6, 2017 by Trevor Hammond

taking-time-off

Let me paint a picture…and decide if it defines you a bit too well, or someone you know well:

You wake up in the morning and out of habit, grab your smartphone next to your bed to check your emails. In the evening, you clean up dinner, put the kids to bed, and then settle in with your laptop to get another hour or two of work done. The weekend rolls around and your spouse and kids keep chastising you for checking your phone for work emails, or even worse…taking work calls.

So I ask the question: How much time OFF will you take this year?

Let’s begin by defining a “day off”. I define this as the time from when you wake up to the time you go to sleep. It means an entire day of no work activity, no checking work emails, and answering work-related calls, reading work-related materials, and even no writing down that genius idea you just had.

With this definition in mind, decide now how many days off you will take this year. Here’s a hint: if you actually took the entire weekend off, that would add up to 104 days typically. Assuming you have two weeks of paid vacation you take, and you commit to making it a true vacation and not simply “working remotely”, that might add another 10 days. This gets you to 114. But figure out your number now, and write it down.

Why is this so important?

  1. Rejuvenation
  2. Productivity

First, rejuvenation. I want to retrain you on how to view time off from work. Taking time off is no longer a reward for killing yourself the prior five days, five weeks, or five months. Taking time off is a requirement to be at your best when you are at work AND when you are at home.

With this definition in mind, you owe it to your co-workers, your boss, and most importantly, your family. Taking a full weekend off, or a week of vacation somewhere, with absolutely no work, will rejuvenate you and help you show up to work rested and creative…ready to solve those difficult problems and be much more productive.

Speaking of productivity, let’s move on to the second reason taking real time off is so important. Look at your number of days off you wrote down. For the sake of this lesson, let’s assume you wrote down 114. This means you have 251 days left in the year to accomplish all of your work-related goals. Suddenly your mind realized you don’t have as much time as you thought and that you’d better get a move on. No more excuses for wasted days. No more time for not maximizing every day you’re at work, getting the most out of each day and from each teammate or employee you supervise.

We all know that we are most productive the days leading up to a vacation. When time is scarce, it’s amazing how productive we become. On the other hand, when we know we have all day or all week to get something done, we are automatically less focused and less determined, and more open to allowing interruptions and distractions into our day.

By first committing to taking “X” number of days off, you’ve now tricked your mind into realizing you have no choice but to get more done at work in less time. And it works. Now you’re more productive at work, which then frees you up to actually take more time off!

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