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127. Compound Interest · Your Enriched Self

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I don't know about you, but I always get super excited at the start
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of a new year. And I saw a post that truly embodied my feelings
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about the new year, and it read twelve new chapters, three hundred and
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sixty five new chances. That's what we all got when the page flipped into
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twenty twenty four. And I hope that you are just as excited as I
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am to make the best of this year, the best of the day.
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Three hundred and sixty five new chances and twelve new chapters. How will you
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write your story in twenty twenty four? Hello, my friends from all across
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the globe, and welcome to the Rettel Podcast. I am your host,
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Smi Lee Noir. I am a mindset coach and your mindset advocate, and
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I want to welcome you to twenty twenty four. I want to wish you
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the best and most prosperous and productive new year. And I want to thank
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you for listening. If you are new to this podcast, welcome, Welcome
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to the new year, Welcome to this community of your enriched self. And
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if you're a return listener, I want to thank you, thank you,
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thank you. I want to thank everyone right now for listening, because I
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know that there are so many places you can be There's so many different podcasts
1:34
that you can be listening to, but you choose to be here. And
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for those of you who have been with me from the beginning, welcome you
1:40
into the new year. What a big thank you. I know that if
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you're listening to this podcast, you are one of those people that just want
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to give your best and be your best and show up as your best.
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And that's what this podcast is all about. When I created this platform,
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it was with that intention in mind. I want you to be intentional about
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your thoughts. I want you to be intention about your words. I want
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you to be intentional about your being, mind, body, and spirit.
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And that's what this podcast is all about. You are here on purpose for
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a purpose. And this week I want to give you again another episode to
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help get your new year kickstarted, jump started, however you need to get
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your fresh start, new start, however you start, this is the place
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to do it. As you know, and maybe you don't know, but
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what we do here and what I do here is I start each episode by
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making a deposit into the bank of you, and I do that by way
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of affirmations. Affirmations are a great way to start your day and to command
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your morning. And this week's affirmation is everything in my life is working out
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for my highest good. Everything in my life is working out for my highest
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good. Everything in my life is working out for my highest good. Now
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let's get ready for this week's episode of the Your Enriched Self podcast. So,
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as I mentioned, you have twelve chapters and three hundred and sixty five
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days. By now. The days have, you know, gone down a
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little bit, but there's still plenty of time. And I want you to
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win this year. I want you to win every year. I want you
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to win really every month. I want you to be winning every day.
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But we got to start somewhere. So this week's episode, this New year
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episode, this first episode of the New Year, is to get this fresh
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start, this jump start, and get you thinking, rethinking possible for your
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life. And it's so interesting because as you look around in culture and society,
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there's all these fast breaks, right, there's all these opportunities to get
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there faster, and it's tempting. It's tempting. I don't know a person
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who doesn't know what ozempic is. Okay, I don't know a person who
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doesn't know what the results look like as they look across culture and watching celebrities
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and entertainers and singers and all kinds of people jump on this short term win.
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It looks like a win, but a short term And today I want
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to talk to you about compounding interests. And it's not as sexy. It
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is not as sexy as ozempic. Ozempic is fast, it is furious,
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it's showy, it's in under the bright lights, it's everywhere. What we're
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talking about today and what we need to do starting now. I don't know
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when you're listening to this episode. You might be listening to this episode in
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the summertime. But wherever you are, it is time to start, and
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not with all the showy, the glitter and the glamour, but to start
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and recognize what your start is and where you need to be. And so
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I want to talk to you about compounding the interests of your habits. That's
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how we're going to get there. I looked at the I looked at an
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article about ozepic, and it talked about how in a matter of weeks people
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start seeing like noticeable results, and by six months people are seeing a thirty
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pound drop. Think about your current weight and in six months so by summertime,
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right, which is very very attractive and very very you know, alluring
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to people who want to have that summer body. If they start doing this
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thing now, they can get there. And I am not promoting ozempic.
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I'm simply showing you how these fads and these short term winds set us up
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for failure, and not just failure in terms of like the diet itself or
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whatever it is, but our behaviors and our habits start to be formulated around
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these cultural conversations, and what becomes norm. The norm now is to get
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there faster, take the shortcuts, do it quicker. There was a time
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in culture where that was the way we lived and what we did, and
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over time it felt like we were kind of going back to the basics.
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And I feel like we're back to that point where people want to take shortcuts
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again. But the side effects and the long term effects, no one's talking
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about those, not as loudly as we're hearing about the results of people taking
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this shot or whatever it is that ozempic is. At the end of the
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day, I want us to be more intentional about what we're doing and why
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we're doing what we're doing. And so I want to give you a little
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incentive about doing it what we might call the old fashioned way, but ultimately
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doing it in a way that is going to be sustainable. Compound interests if
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you are in the financial world, if you have heard about this, compound
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interest is what happens when the interest that you earn on savings becomes interest in
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itself, so interest on interests, and as that interest grows, it begins
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to accumulate rapidly. So it's almost like a little bit of a snowball effect,
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like it starts off really slow and then it builds at an exponential pace,
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and that has a significant impact on people saving well, I want to
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take that same concept, right, that same application of compound interests, and
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apply that to the habits that it's gonna take for you to build the version
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of yourself that you want to walk out after your three hundred and sixty five
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days, after your twelve chapters. That version of you is gonna be based
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on these habits that are becoming a compound interest of your self improvement, your
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transformation. So the same way that money is multiplying through the compound interests.
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These effects or the effects of your habits as you repeat them over time,
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they multiply. And that's the key word. I know it's not what you
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want to hear, right, I know you want that Ozepic podcast episode.
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But I'm giving you the compound interest because what we're gonna do is we're gonna
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take these habits and we're gonna stack them, and we're gonna do it repetitively.
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You're not going to see that significant impact from day to day. Think
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about it like this, I go to the gym every day. I'm going
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to the gym for compound interest. Now I didn't realize that to like kind
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of put this language together coming up with this week's episode, But I go
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to the gym for compound interest. At one point in the future, I
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want to still be going to the gym. So let me tell you how
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you do that. One of the hacks that I have is I want to
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be at the gym for about forty five minutes to an hour. But the
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way I'm set up right now and the way my daily schedule is set up
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and what time I have to be to work, and all of my morning
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routine that doesn't always work out. But I've given myself a rule of thumb,
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and I said, for me to do this without backing out of it,
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without you know, losing track on my law long term interest in this.
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If I can get thirty minutes of a workout in, I have succeeded.
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And the purpose for that is that I want to be consistent and I
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want to repeat the activity. But I know if in my head I say,
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oh, man, I don't have an hour to give to the gym,
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so I'm just not going to go, then I can't be repetitive because
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I don't have anything to repeat from. Maybe I got up a little bit
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later, or maybe my morning routine in some other aspects didn't quite get me
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the hour of gym time that I needed. And so now for three days
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I haven't gone. I can't grow what I'm not building on and over time,
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with accumulating reps, with accumulation of being at the gym and doing the
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activity, it's going to build at an exponential pace. And I'm looking forward
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to that now. I know that's hard for a lot of us because we
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grew up in a society where we want to see results. Now I know
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when we think about starting something new, or perhaps restarting something that we once
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were. You know, walking whatever journey you're on, everybody's looking for an
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ally. On that journey, you need something or someone or some environment to
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help you stay connected to the thing. And what I'm going to tell you
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right now is that your biggest ally, your best ally, and on this
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journey are your good habits. I need you to take a moment right now
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and pause. Go get you a pen, and go get you a paper.
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I should have warned you, but I need you to write down.
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I know that we want to go after goals. I do too. I
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have a lot of goals for twenty twenty four, but it's not going to
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get done if I don't get a better understanding of these habits that I have.
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And you need to get an understanding of the habits that you have,
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because your good habits are your allies, while your bad habits have been your
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enemies. And I can name them and claim them for you if you want
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me to. We got some bad habits out there that we need to we
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need to stop because you not taking responsibility for your actions. It makes it
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really hard when you say you want to have financial growth in twenty twenty four.
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But you're not watching your spending habits. You're not monitoring your credit card
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payments, you're not keeping your utilization down. You can't build compound interest on
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your habits if you're using bad habits. Like I said, your bad habits
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are not your friend in this space. So I want us instead to focus
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on the good habits. There are some things that you are doing right now
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that are good, and we can start with that. We can start with
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the good. Here's what I want you to know. Every habit is a
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seed. Every habit you have is a seed, good or bad. But
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right now I want us to focus on the good habits. I want you
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to think about the mini, micro, small steps you are taking or large
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steps, and I want you to start with the good habits and recognize that
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those are your allies. I want you to get up each day and know
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that you have allies in the game, and the allies are from within.
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They are the good habits. Maybe you are getting yourself enough rest at the
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end of the day. You know how to manage your stress. Maybe you
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are good at you know, giving time to and spending time with your loved
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ones. Maybe you are good volunteer you know you're good with volunteerism. Maybe
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you like me exercise regularly. I don't know what your good habits are,
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but I want you to know what they are, because they will, in
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fact be what helps you achieve the goals. I'm not coming on here talking
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about goals just yet. We're going to get to that in another episode.
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What we need to do is identify that we have allies. You have an
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ally, you have allies. Those allies are your good habits. And so
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now that you've written them down, and you might want to pause this episode
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to write them down, then it will start to make you going after attacking
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your goals a lot easier over and over again. You are going to create
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a momentum. And that's how you get that compounded interest. I think it
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was Albert Einstein that said you can grow your life with the magic of compound
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interests. So when you think about compound interests, again, we come from
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the financial world using this language, and so what I will say in the
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same vein is start investing early. Like I said, when I think about
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what I'm doing now from a fitness perspective, on a fitness journey, I'm
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thinking about myself in the next ten fifteen years. I still want to be
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on this fitness journey. But I'm not going to be on that journey if
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I don't start early. I need to start investing now, right, And
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so I started this investment. Actually several years ago. I started my fitness
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journey and I'm still on the fitness journey and that's because I started investing now.
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So my advice, my recommendation to whatever you are doing. If you
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started something and maybe you're restarting, I would say, just get started again.
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Start investing. The sooner you start, just like with your money,
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the more time your money will grow. In this case, the more time
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the habits will grow. So now I have a habit of going to the
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gym. Now there are gonna be days where I don't get there. But
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because I've identified myself as a person that goes to the gym, that identity
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is helping me stay on track. And that's why you have to know who
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your allies are, and I know that's one of my allies, so I
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focus on that. The next tip is to invest regularly. So this goes
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back to what I said being consistent. So let me give you an example,
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about three years or so into my run journey, someone introduced me to
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interval runs. And interval runs is something that Jeff Galloway introduced to the running
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community, and it is basically a way to preserve your knees right because as
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you can imagine pounding the pavement over a course of marathons as he had done
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on his journey. His journey, he was an Olympian. I can't remember
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what year he competed in the Olympics. Nevertheless, this guy is almost ninety,
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if not ninety plus, and he's still running marathons very very actively,
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very consistently. Why is he able to do that because he started something called
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interval runs. And interval runs is an opportunity to run for a period of
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time and walk for a period of time and do that over the course of
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your miles. You know, whether you're doing a five miler, a ten
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miler, a half marathon, or a full on twenty six point two full
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marathon. So no matter how you lay it out, this interval opportunity is
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a way to preserve your knees right. So you have that walk period and
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that run period, so you're basically doing a rest period and a run period,
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so to speak, on your body. Because he invented this methodology of
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running, I adopted it a few years into my run journey, and I
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will say when I first learned about it, I thought it was a cheat.
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I didn't think it was right. I didn't think it was it made
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a lot of sense. But over time I've adopted it because, like Jeff
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Galloway, I want to be running for a long time to come, and
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I know that if I just did it the way I was doing it when
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I first started my run journey, which I didn't find any fault that way,
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but I found that for a longer period of my run journey, I
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could be sustained by doing it this way. So I invested in this process
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and I do it with every single run that I do. This investment again
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adds up over time, and over time the results are I'm still running.
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And I'm not saying people that do it the other way don't run. I'm
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just saying I want to do this for a longer period of time with less
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downtime. Because again, I know people who have been running for a long
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time. Some of these people have had surgeries, hips I don't know the
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reason behind all of that. All I know is I've been able to do
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this for as long as I've been able to do this without sustained injury,
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without long periods of downtime, because I made a choice to do it this
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way. So that was how I invested. You're going to find things that
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work for you, whether it's a fitness journey, a financial journey, a
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family journey, whatever it is that you're doing, find what works for you,
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and invest regularly. That's really what I want to say about that.
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The final tip I'm going to give you is to be patient. I repeat,
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be patient now. In order for this magic of compound interest to work,
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it's going to need and take time. So I don't want you to
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get discouraged. And I think the reason why people go after ozepic or these
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quick wins in quotes I say wins, is because they want almost the instant
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results. You're not going to get instant results in a compound interest life cycle.
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It has to run the course. Let me give you an example.
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You right now can go to Google and you can type in compound interest calculator,
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and when you put that in, you're going to be able to put
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in the dollar amount that you want to invest weekly or monthly. You're going
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to put the number of years you want to make that investment. And I
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know we're talking money here, but I want you to get an idea of
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how this interest on interest, which is what compound interest does. It compounds
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the interest. So you'll be able to put the number of the period of
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time, whether it's weekly or monthly, that you'll make that investment. Maybe
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for you for your workout or whatever. It's a daily investment. So get
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creative with that. But just pay attention to how things exponentially grow. Right,
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So you put that in, You put in the number of years,
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maybe it is ten years, twenty years, whatever it is, and then
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you put in the interest number. Even at a one percent interest, there
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is exponential growth. If you're not doing any investments at all, you're not
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going to see any results. You're going to just get in what you put
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in. And some of us aren't really putting in our best. And so
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I'm challenging you to get your allies in order, get them information, write
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down your good habits. Will those will be your allies on this journey.
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We're gonna pick up on this and we're gonna continue to build on how we
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get and not just get to the goals, but make those goals in twenty
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twenty four. So we're not missing any goals in twenty twenty four. I
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know I missed some last year, and I'm sure you miss some. We're
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taking a new approach this time. We're going and targeting the good habits that's
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gonna be our allies. We're going to use that to build compounding interests.
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So go to Google, put that in and watch what that looks like.
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As you add more interest, which means you're spending more time and having more
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regular intervals, regular opportunities, you are consistent at what you're doing. You
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will see as you increase that percentage for interest, how drastic the results you
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will get. And if you want those types of results, then I have
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to put in the work. We're not doing cheat codes, we're not doing
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fast and furious. We are going to let this thing build over time.
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Now I'll tell you what I'm doing. There are some things that I'm doing
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because I also recognize, like you, I have allies which are my good
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habits, and I have enemies that are my bad habits. And so what
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I've done is I have worked all of my January goals. I'm sorry,
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I've written down all of my January goals. At the end of January,
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one of the things I will do, which is another part of this journey,
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is to celebrate everything I did in January. I know we wait until
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the end of year to kind of do a recap, but I want to
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recap at the end of the month. I want to continue to build again.
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This is going to be for me how I build momentum from these monthly
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recaps, to see all of what I did and how I completed, and
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then I could take that energy and that momentum into the next month. And
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so that's one of the things I'm gonna do. I'm gonna continue to share
24:37
what I'm doing and share with you my wins, like I want to bring
24:41
my wins here to you, and I want to hear from you as we
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are doing this together, because this is a togetherness journey. This is a
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win now, this is a win in twenty twenty four, no more missus
24:56
all hits. And so we're gonna do this together. I'm gonna walk with
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you, We're going to talk through it. We're going to do all the
25:02
things together. And I'm going to continue to share what I'm doing on my
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journey. That's just a small part of what I'm doing. I will continue
25:08
to share. I'm excited for what we will do this year together and what
25:12
we will do independently, because I know that there's some great things that you're
25:17
going to be able to produce for yourself, for your community, and for
25:21
all the things and the places that you have great influence. So I look
25:25
forward to that. And again I encourage you to share on the social media
25:34
platforms. Send me a DM and you know, let me know what you're
25:40
doing and how you are implementing this compound interest so that you can win in
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twenty twenty four, I hope you enjoyed this week's episode of the Urine Ritsub
25:56
podcast. And the only way I'm going to know this is if you leave
26:00
me some feedback. Feedback is a gift and it is free to give,
26:03
and I would like to hear from you. I would like to know what
26:07
resonated with you regarding this week's episode. Now here's how you leave feedback on
26:11
the platform and which you listen to this podcast, follow the stars when you
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get there, leave a five star rating. But in all seriousness. When
26:18
you get there, you can share your feedback on this podcast and that helps
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us. And when you share your feedback on this podcast, it helps others
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find us in these podcast streets. So we would definitely appreciate that you can
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also share this episode with your friends and family right from the podcast. So
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right from the podcast platform and which you're listening to this episode, hit the
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share button and send it to the last three to five people that you spoke
26:49
with today. Also, you can share this on your socials. You can
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find me primarily on Instagram because that's my jam, that's where I am.
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You can find me at my Enriched Self that's m y E n RI c
27:03
h E D s E l F. And you can hashtag this episode.
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You can tag me. I would love to hear from you, so you
27:11
can showcase through your friends and families and those in the social streets what you're
27:15
listening to and what's feeding you mind, body and spirit. I also want
27:18
you to check out the show notes. In the show notes, we have
27:22
the affirmation of the week, the quote of the week, and there you
27:26
can also find my Amazon shop. The Your Rich Self shop has two items
27:32
right now. A journal which is the Show Up every Day Journal as well
27:37
as the Show Up Everyday Notebook, so check those out in my Amazon shops.
27:42
And finally, take what you can from this episode and do what you
27:47
must in the next one hundred and sixty eight hours so that you can become
27:52
more of your enriched self until we meet again.