Ep. 24 | Erik Gomez - What's Holding You Back from Your Money Story?

On this episode of The Rich Equation Podcast, Ashish is joined by guest Erik Gomez. Ashish and Erik discuss all things money and wealth management and Erik shares his super interesting and different perspective on this topic. Ashish and Erik deconstruct the dogmas of money management and why the traditional thinking of how to manage your money is outdated and the majority of the problem lies within the six inches between your ears! Erik’s passion and energy provides for a great episode as he and Ashish divulge into the stories we tell our selves surrounding money and how we can become better versions of ourselves.

 
HIGHLIGHTS:

0:00 – Intro
2:12 - Ashish mentions how he is so excited to have Erik on the podcast because Erik is coming from the money/wealth management investing business
3:48 – Erik speaks about how unfortunately money isn’t something people are really taught really
7:00 – Erik explains how he teaches people to manage their money and re-train their approach to money and wealth management
9:44 – Erik shares the five capitals his company has based their work on
11:44 – Erik states that fostering good relationships is really important
13:34 – Erik mentions how he once had a coach who told him that you will not perform out of alignment with how you see yourself
17:10 – Erik speaks about how there are no shortcuts or silver bullet when it comes to investing – if you give the money enough time it’s going to do what it’s supposed to and it will work out
19:47 – Erik mentions how Elon Musk at one point was one of the richest people on earth but he was cash poor
20:34 – Ashish and Erik encourage you to read the book, The psychology of Money and they discuss this book and the knowledge it holds
21:50 – Ashish states that if we have to build routines in our lives to help us achieve the results we want
22:00 – Erik shares his daily routine
23:52 – Erik mentions how his dog has been helping him stay accountable as he has lots of energy in the mornings
25:55 – Erik gives us an insight into his journey, his upbringing and how he got to the place he’s at now both professionally and personally
31:14 – Ashish asks Erik what he would say to all young people to change their mindsets
33:55 – Ashish states that society trains us to think that other people’s opinion’s really matter and the faster you learn that it’s so untrue – the happier you’ll be
36:47 – Erik states that you have to do something to be different and stand out
37:26 – Erik talks about how freedom and choice is what true richness means to him
37:38 – Erik mentions how real estate is a great wealth building tool
39:43 – You can find Erik through Instagram @rg_wealthmanagement 
40:10 – Ashish asks Erik what he wish he knew 20 years ago 

 TRANSCRIPTION:
Hey, welcome back to the rich equation. Today I am joined by Erik Gomez. Erik is a financial advisor with Northwestern mutual since 2005. He finds his passion in working with individuals and helping them to protect what is most important to them and the risks that come along with it. Erik has a such a different perspective about money management, which is why I wanted to have him on the podcast. And I wanted to get deep into this topic. 

In this episode, we deconstruct the dogmas of money management. Why most traditional thinking about how to manage your money is outdated. And most of the problem is the six inches between years. Erik has this passion and energy that is contagious, and he believes that money management should be more of a rounded conversation and less focused on returns. 

We get into the stories that we tell ourselves about money and what we could do to be a better version of ourself. This is such a great episode. I know you'll have something to take away joy here it is.