• Kay & Shi

The Daily Scroll: A Mentorship Recap - May 17th, 2021 Show Notes

Kay:

Hey there Questers and welcome back. It is Monday, May 17th, and this is episode 356. We have a Warren Buffett quote for you today. So, you know, this Money Monday is going to be extra good. Warren says, "Someone's sitting in the shade today because someone planted a tree a long time ago."

Shi:

This is such sage advice applying to any kind of investment that you make, whether it's in your financial bank accounts or portfolio, or your health or your relationships, or a myriad of other things. But particularly, of course, when it comes to our financial planning and our portfolio piece, this is that idea of the amazing compounding effect that can happen over time especially if you just put a little bit in early on in your life. Watching that compound can really provide for you later in life or provide that shade for you. If you plant the tree today.


Kay:

I think there are as many people in this world who are more qualified to talk to us about financial investing than the one and only Warren Buffet. He is an American investor. If you haven't heard of him, he's the world's seventh-richest person and he's already given away half of his wealth to charity and to do good for the world. So, he has been an incredibly successful investor and as the chairman and CEO of Berkshire Hathaway, which is one of the largest investment firms in the world. So, he's the guy, he's the man…


Shi:

He is.


Kay:

...when it comes to money.


Shi:

He is an expert when it comes to these things and he has for a long time, been an advocate for those long-time investments, those planting of seeds today so that you can enjoy the shade for not just yourself in the future, but for generations to come. The incredible impact of action that compounds consistently over time really begins to give those exponential returns. The kinds of returns that we want all of us in our life, financially speaking and otherwise, but it's so hard to sometimes give up the right now, "freedom" for that shade in the future even though we know it could be 10, 20, 50 X, what we're putting in now.


Kay:

Well, it's a give in the present and it's hard to give now for gain later because we can't feel that game right now. So, you feel the pain in the present for the payoff and the future and, and it can be difficult to reconcile with that because the future doesn't exist so it's not technically a sure thing. You could die tomorrow, and it wouldn't matter. But if you don't and you make it 30, 40, 50, 60 years down the line, you will be glad for the action that you took today. Just like John Maxwell says, "It's not about what you do in a day. It is about what you do daily." So, what are those habits that you're consistently putting into and compounding toward? Do you have good money habits? If you don't have good money habits, do you have other habits that are constructive for your life that you might be able to start building success off of and working toward improving the areas in your life where you can?


Shi:

I like to think about this a lot when it comes to the legacy of impact that humans have on the world. What one conversation 50 years ago that then got somebody to take a different path or become a speaker. The person who delivered food to Tony Robbins when he was 11 and changed his life forever. The impact, the shade of that tree is massive and huge, and you don't always get to know what those effects are going to be. So, I think about it a lot in that sense as sometimes as I'm looking at, or listening to old school motivational videos or speeches or books that have come out 100 years ago. I've also been thinking about this in terms of ancient architecture. I think I'm the kind of person that if someone was like, we're going to build a giant dome I would be like, that's so wasteful. You don't need that. Get back to work. But yet, if I'm looking at an ancient dome, I marvel at it. I love it and how many thousands or millions of people have done that. So, there's worthwhile work and doing things that are on that scale because they have that lasting legacy impact.


Kay:

Well, we are sitting under the shade of a tree that was planted in a fairly unconventional way. If you're new to The Mentorship Quest, you might not know that Shila and I are the owners, and the keepers of an 11-location breakfast and lunch restaurant called The Squeeze. In 1974, a couple of hippie ski bums and Truckee, California got together and said, you know what we should do? We should start cooking some omelets. Then the omelets were good and so they said, well, why don't we open a restaurant for these omelets? Then people started coming to that restaurant. Before they knew it they had an icon on their hands, which then successfully ran for 30 years before our family took it over and then grew it from there. Today we stand in the shade of the tree that was planted by a couple of hippies in 1974.


Shi:

As Warren Buffet tells us, "Someone's sitting in the shade today because someone planted a tree a long time ago."


Kay:

Alrighty, gang you know you've got a #MoneyMonday Quest today. We want you to plant the financial seed for the tree of your future today. Whether you buy some stock, put money into your savings, or pick up some actual gold, make a financial move today that helps to secure your financial wellbeing in the future. Are you ready? Say it with us.


Kay & Shi:

Let’s quest!