UPTHINKING FINANCE

• [5:42] Navigating job changes and finances in their early marriage
• [11:48] Laying the groundwork for the future of their finances
• [15:16] How Nick and Kelsey chose to switch gears
• [18:44] How culture influenced their decision-making process
• [23:28] What changed the trajectory of their lives?
• [27:29] The “What does our rich life look like?” discussion
• [31:11] The common thread/unified vision

Neither Nick nor Kelsey had any financial literacy training going into their marriage. They had to figure things out as they went. Kelsey is the more financially independent of the two. She’s held a job since she was 14 and always paid her own bills. 

Kelsey was a waitress, so she always had cash. Nick also had a steady income with a company vehicle and full benefits. The hardest transition was when he quit that job to pursue his passion. They weren’t making money and had to figure out how to survive. 

When Kelsey found out he had quit, she was shocked but not totally surprised because she knew he wasn’t feeling fulfilled. She was happy he was going after his passion, but they had to figure out their finances quickly. 

Kelsey was raised to take the safe and secure route. So Kelsey picked up double shifts so they could pay for their basic necessities. Kelsey went into survival mode and worked 9–5 jobs that she didn’t find fulfilling. 

Nick and Kelsey have always agreed that they would avoid debt in their marriage. They barely used their credit card and if they did it was only on purchases they knew they could pay off. They adjusted their lifestyle and lowered their cost of living whenever it was necessary. 

They had a mutual understanding that if things got bad, Nick would have to look for more stable work. Things were tight 99% of the time but they figured it out. They were not going to get in debt to chase their dreams.

What happened that caused them to switch gears? How did the culture they grew up in influence their decision-making? Listen to hear the full story!

Kelsey had created a relationship with developers and worked directly with many of them throughout her work. She was given the opportunity to become the realtor on a massive development. Kelsey could’ve made a lot of money. She was hungry and excited about the prospect.

But she started evaluating her life. She’s always been a workaholic. She saw herself getting addicted to the lifestyle. She feared she’d never see Nick, her family, and her friends. They already rarely saw her in her current position. She questioned if they’d start a family. 

She turned down the opportunity (and stayed on good terms with the developers). Kelsey may still do interior design work with them in the future. Ultimately, she chose everything else that she’d been neglecting. She graduates from a coaching program next week as a Holistic Health and Spirituality practitioner. She gets to incorporate fitness, nutrition, and spirituality into her job, a balance of the things that bring her joy.

Nick made the initial jump into doing what he was passionate about. Kelsey always wanted what was best for him and looked out for his best interests. Now it’s Kelsey’s turn to do something she’s passionate about and he’s focusing on supporting her dreams. It’s their endless support for each other that’s carried them through.

Nick points out that most people think about financial planning as “Get rid of your $8 coffee and start saving that money.” But what if you want that $8 coffee? You have to decide what a rich life looks like to you. What are the things that you want in your day-to-day and work life? What are your priorities as individuals and as a couple? 

Nick and Kelsey have always had those conversations. They don’t think of abundance as a monetary value. Instead, it’s about gaining an abundance of time, freedom, joy, and fulfillment. After all, you can make a ton of money and be miserable. 

Nick and Kelsey Burns are not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.

Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.

The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.

• I Will Teach You to Be Rich

• Capital Investment Advisers
• On LinkedIn

Subscribe to Upthinking Finance

Audio Production and Show Notes by - PODCAST FAST TRACK

• I Will Teach You to Be Rich