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Success Story Podcast

Eszylfie Taylor – Founder & President of Taylor Insurance Financial Services | Optimizing Mind, Body & Money

By December 18, 2022January 2nd, 2023No Comments

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About The Guest

Eszylfie Taylor is a famed financial advisor to Hollywood stars & sports legends to share his advice and stories about pro athletes who squander multi-millions and Hollywood stars who are surprisingly frugal and smart with their money. Eszylfie is the glue that holds these disparate ends together, helping his clients remain in the black (and this advice works for everyone), with recent features on Business Insider, Fox Business, Real Simple, FinancialPlanning.com & more.

With a client roster that includes Hollywood celebrities and legendary Hall of Fame athletes, Eszylfie can speak to his success and advise on how individuals from every generation can overcome current obstacles to end up on top. Eszylfie has achieved his unprecedented success at such a young age due to a combination of education, motivation, a positive outlook, and a deep desire to help others improve their lives. He began his career at age 22 with New York Life Insurance Company, where he soon reached the ranking of #1 Broker in Los Angeles and #1 Agent for the company’s African-American market. 

He currently sits on the board of three non-profit organizations dedicated to business empowerment, children’s health, and social services.

Talking Points

  • 00:00 — Intro
  • 01:31 — Eszylfie Taylor’s origin story
  • 04:26 — Thoughts on the reality of people who conform to what others think they should be
  • 07:35 — Getting to where Eszylfie is in life now
  • 11:11 — What was missing in Eszylfie’s life after he had made money?
  • 13:35 — How do you build yourself back again after a recession?
  • 16:26 — Managing your personal life and your business
  • 20:15 — How do you figure out what you want?
  • 23:40 — Detaching yourself from the outcomes and focusing on things that you can control
  • 25:40 — Who are the people Eszylfie works with on a daily basis?
  • 28:46 — How can we make people more financially literate?
  • 33:25 — What is the percentage of athletes that go bankrupt?
  • 37:56 — Where does Eszylfie recommend somebody put their money?
  • 40:49 — What should be the first step of a person that wants to start investing and is overwhelmed?
  • 43:43 — How many times has a paycheck-to-paycheck client turned out to be an over-spender?
  • 45:36 — Eszylfie’s advice for people and where they can connect with him
  • 47:00 — What does success mean to Eszylfie Taylor?

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What is the Success Story Podcast?

On this podcast, you’ll find interviews, Q&A, keynote presentations & conversations on sales, marketing, business, startups, and entrepreneurship.

The podcast is hosted by entrepreneur, business executive, author, educator & speaker, Scott D. Clary.

Scott will discuss some of the lessons he’s learned over his own career, as well as have candid interviews with execs, celebrities, notable figures, and politicians. All who have achieved success through both wins and losses, to learn more about their life, their ideas, and insights.

He sits down with leaders and mentors and unpacks their stories to help pass those lessons on to others through both experiences and tactical strategies for business professionals, entrepreneurs, and everyone in between.

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Machine Generated Transcript

SUMMARY KEYWORDS

people, money, life, business, athlete, career, hubspot, day, year, billionaire, point, success, check, play, financial literacy, pay, picks, invest, bought, easy

SPEAKERS

Scott D Clary, Eszylfie Taylor

 

00:00-Ad

Hi. I’m Chris Long, the host of American prodigies becoming great. Every Thursday, I take you into the story of an NFL great, weaving together interview tape and archival clips, I’ll guide you through the journeys of some of the most memorable players to ever put on a helmet. greatness comes in all shapes and sizes, and every path is one of a kind, American prodigies, becoming great. New episodes every Thursday. Listening wherever you get your podcast, presented by windows.

 

Scott D Clary  00:31

Welcome to success story, the most useful podcast in the world. I’m your host Scott Clary. The success story podcast is part of the HubSpot Podcast Network, which has other amazing podcasts like entrepreneurs on fire hosted by John Lee Dumas entrepreneurs on fire Stokes inspiration and share strategies to fire up your entrepreneurial journey and create the life you’ve always dreamed of. Check out some of the recent episodes, a tools of improv comedy that you can use in work in life, how to turn your Instagram into a money making machine, how to build a seven figure side hustle without quitting your full time day job and overcoming the beast of depression as an entrepreneurial leader. If these topics are interesting for you, you definitely have to check that entrepreneurs on fire wherever you download your podcasts Today, my guest is Eszylfie Taylor, the number one financial adviser in the entirety of California who navigates the challenges of working with celebrities, sports legends, and fortune 500 executives. He currently sits on the board of three nonprofit organizations dedicated to business empowerment, children’s health and social services. He mentors, upcoming youth as the founder of the nonprofit future stars camp for kids dedicated to providing basketball training and life coaching skills in his free time. Now we spoke about the definition of success, financial literacy, finding balance, how to manage your money, how to invest where the wealthiest spend their money, and how to become a millionaire with $100 a month.

 

Eszylfie Taylor  02:04

I think one of the things that I experienced as a child that really was the catalyst that shaping who I was, is, in the fourth grade, I changed schools. My mom took a new job. And my brother and I got transferred to a new school that was closer to her job. And my brother and I literally desegregated the school, right, like, we’re the first black kids in the school. And I’d grown up previously going to a school that was pretty eclectic, white kids, black kids, Mexican, Hispanic, or Asian rather like everyone, right? And this school is just like a bunch of white kids and my brother and I. And you know, I used to get picked on like, you’re black. I’m like, Yeah, I know. Right? Like I was like,

 

Scott D Clary  02:48

yeah, like, tell me something new. Yeah.

 

Eszylfie Taylor  02:51

You know, my, it was me and poor, poor little Jimmy Baird. Jimmy Barrett was a nerdy little kid. And you used to get picked on before school. But I was fast, right? So I’m fast. And Jimmy beard was not fast and right. So he can beat up and I’ll just run around. And you know, coming from I went to this progressive Montessori School, where, you know, I wasn’t playing and also my father is from Ghana, West Africa, right. So my dad wasn’t like, let’s play like football and basketball. And baseball is like how many PhDs you’re gonna get. And so I didn’t know any of the games like, Oh, you’re gonna play Foursquare handball, I’m like, I have no idea what these things are, right. And so I was a bit of an outcast. And because my mom worked at night, or worked through the night, I had to go to daycare after school. And so I’d spent hours after school every day playing handball and Foursquare and Dag and learning the games and not only learning the games, like I became like, the best one in the game. And as I went through school and now like starting to play sports and football and basketball, and baseball and everything, and I became like the best athlete in the school. And you know, now girls come around oh my god, he’s that he’s that he’s Sophie Taylor. And now all the boys he used to pick on me and try to fight me. Now. Well, I can I do sleep over your house? And what and what that what that period of my life taught me is that, so let me get this straight because I score touchdowns or can shoot threes and girls like me now like, Nah, I’m the same kid that I was before. And so I literally became the bully of bullies. Right, like, and I always wanted to stand up for the underdog at that point, and not letting you know, circumstance dictate your character. Right? And, and not saying Oh, because I’m popular now I’m going to shift and be, you know, mean to other people or nasty to other people or put other people down because I know what that felt like, you know, and that’s probably the only period of my life where that was my reality, right? Ever since then, being an athlete and you know, doing well in school and going into business and all these things. I’ve been, quote unquote, the guy, but that always stuck with me. So that’s one thing that, you know, happened to me as a kid that I remember that that stuck with me and shaped who I was.

 

Scott D Clary  04:58

But you know, that’s a really great lesson. So you realize, and actually, you came out of it on the right side of it. But you realize that going into it. When you conform to all the things that people want you to be, all of a sudden life gets a little bit easier. But then I think it’s going to dovetail into lessons that you teach over. Probably from what you’ve learned from being successful. It’s like not always what you want, either. It’s not always who you are, like you for a moment, you started to become like what other people wanted you to be. And then you realize, hey, wait a second, like, I gotta come out of this in a good way. And that’s when you you know, you’re the bully of bullies, you’re like, Okay, so I figured out the code to being successful and cool in school. I know how to play sports, I know how to get girls, but like, ultimately, you still want to be true to yourself. And I think that’s something that you probably like the way that I look at the stuff that you’ve done in your career. I even saw this like little sizzle reel that you put on your website, how you made it, and you and you got the money, you got the house, you got the car, you’re like, Hold up, wait, like, this isn’t exactly what’s making me happy. So maybe walk me through like the reality of, of a lot of people who conform to what people think they should be, but then ended up maybe not in the right spot?

 

Eszylfie Taylor  06:15

Sure. I think what happens is obviously as natural as well, we’ll put a lot of onus on possession put onus on, you know, what kind of house you have, what kind of car do you drive? Or what’s your job title, or what how much money you making? And you know, and it’s great, right? You know, we all want to have nice things and enjoy the fruits of our labor. But at the end of the day, it’s really about, like I say, connection, it’s about fulfillment. It’s about gratitude, health and wellness. And that’s really what matters. That’s our riches. Unfortunately, most people never reach their quote unquote, number, they never either making enough or possess enough to say, to say, like, Oh, I’ve made it right, I feel the sense of accomplishment and those that have, right, and that’s why you see the multimillionaires or the business moguls of the athletes giving back so much, right and creating nonprofits and being philanthropic or they’re rich, right, and they don’t do those things. And they’re just miserable, nasty people, they have all the money in the world, they can buy anything they want except for happiness. And again, unfortunately, most people never reach that number, whether that’s a million, or 5 million, or 10 million, whatever it is, and they never get that house. But when you get it, right, any one of you who are listening to this or watching this right now, if you said I’m not happy, so if you because I don’t have money, no matter what your number is 1,000,010 million, 100 million, a billion, whatever your number is, if I wrote you a check for that number, you would be the same person the next day. If you’re miserable, nasty person broke, you will be a miserable, nasty person with $10 million. Money doesn’t change who we are just essentially it’s who we are highlights who you are. And so that’s my whole thing is how can I find balance? How can I find peace with nothing? Nothing material. Because if I can do that, when I get the house, when I get the car, when I get the money when I get the popularity, then I’m going to be able to affect change positively and help other people.

 

Scott D Clary  08:07

Yeah, but it’s hard to get that So walk me through like your career. Because even when I watched that video, it seemed like you fell victim to that mindset for a period of your career, you hustled hard you like you push like you want it all the things you had a number and you you didn’t you know, you didn’t have that number right away. So after you got it, you had a little bit again, like when it’s funny, when you realize the success that you’ve achieved in whether or not it being you know, popular in school, or having the house and the family and the car and the toys you want. I love that you are so self aware that you recenter and you’re like shit, I need to figure out how to make better life for my you always fit. Like it’s never like you double down and you just like get on this toxic path, which a lot of people do. You’re like, Hey, I’m so self aware I got this, but I need to figure out how to be more whole in my life. Anyway, so walk me through your career and like how you know how you got to where you you were Yeah, to that point?

 

Eszylfie Taylor  09:00

Certainly, I think they say well, the definition of insanity is doing the same thing over and over again and expecting a different result. Right. So anytime I reach a particular level plateau in my life for or pivotal moment. I go wow. Right? Is this the life I want to live? Or is this what I wanted? And if I go well, no, it’s not that immediately I look to shift I look to change, I look to pivot because if you do what you’ve always done, you’re gonna get what you’ve always had. Right? And so so I look to shift so story simple, like I didn’t grow up in this like, super impoverished area. I mean, I grew up in Southern California and went to private school my whole life. I had a roof over my head, food on the table, right didn’t have a trust fund when I turned 18 But I had 20 bucks in my pocket, you know, go to movies and grab a burger on the weekends, right? I didn’t have a BMW when I turned 16 But I had a Subaru station wagon, right so I could car cart myself, my friends around and so I didn’t I didn’t go without a lot right going up. But I want and more, right and I wanted to provide more for my family when I had one and, and that was my thing, right? I’m 22 years old, graduate college, I started my career right out of school and finance. And I had one simple modest aspiration and that time has become a millionaire by the time I was 25. Right? I figured three years, man, let’s go. Let’s get it right. And, and it said, right. I always say, right, if your dreams don’t scare people, you’re not dreaming big enough. You’re not swinging swung big. Took me a little longer than 25. But by 27, man, I did it. I’m a millionaire. I’m 27 years old, right? By 30. It was kind of like that, that that moment you’re talking about when I realized like, Oh, crap, right? Like, I’ve made life about achieving all this stuff. And I have all the you can see my office behind me, I’ve got all the plaques and trophies in the world, right. I’ve been decorated in athletics and academics in business virtually my entire life. And when I realized, like, all that doesn’t matter if I’m empty inside all that doesn’t matter if I don’t have true connection and love with people and a fitting. So that’s where that that shift came. And not that, you know, I’m not going to still try to grow business, I’m going to be a billionaire, right? That’s where my head’s at. The difference is, is I don’t want to be a billionaire to consume for me, right? So I can get a nicer house or drive a nicer car. My pursuit of being a billionaire. One is I’m an athlete, so you got to keep score. Right? So you want to play one on one and not keep score? No, right? Like, IQ score. So that money is the barometer, right? But then for me, it’s really just the ability to impact and touch people and share, right? I’m a billionaire, there aren’t any homeless people here in LA, right? And oh, people don’t kids going hungry? Right. That’s, that’s, that’s I think we’re here to not only again, not to consume for ourselves, or even provide for our family, but but for families and people at large.

 

Scott D Clary  11:43

And then when you were when you were on the coma, when you were making that million by 27. What do you think? What do you think was really missing in your life? Because now you, you have a TV show mind, body and money. So I’m assuming, you know, the money’s there. What was missing? Was it the mind? Was it the body? And also, I don’t know what what else falls under, you know, the things that are missing thinking relationships, like all the different things that you have?

 

Eszylfie Taylor  12:09

I think many of us are unequally yoked. And the reason that mindbody money is so important to me is I believe, to become the best versions of ourselves, we need to master those three areas of our life in that order, Mind Body money. In terms of mindset, I guess I was very determined. Right, I was very determined. I think I was very stubborn, right? today. I believe everything happens for a reason. And it’s perfect timing. And back when I was younger, I was very idealistic, this will happen, this will happen, this will happen. And anyone who says something to the contrary, I get out of my way, right? Like, that is what I thought, the body part like being an athlete, like school, like I played basketball college and kept playing through leagues as an adult and always moving my body. But I was, I was putting crap in my body. We think of diet as what we eat. And it wasn’t only that my diet was poor, your diet isn’t only what you eat, it’s what you watch. It’s what you listen to, it’s who you hang around. Now, what I realized, also, there was a lot of toxicity, right? So even though I’m quote unquote, more successful, and I know 1000s 10s of 1000s of people, my circle and the people that I’m close to, and the people that are vulnerable to continue to shrink, actually over time, and then with the money, yes, I was making money, but I didn’t realize it’s not what you make, its what you keep. Because one other part of that story is as a millionaire by 27. And by 30, I was broke, right? Because I bought all these pieces of property in bad time. Oh, 50607 when the market dropped, right, you don’t get a gold medal and a trophy, because you used to be a millionaire, right? You gotta keep it. And so these are some of the lessons and so I tell people all the time, like I’m a massive, massive failure. So when people look at me, like, oh, no, not up selfie, I’m, you know, because people are judging me by my successes, and Nelson Mandela, quote, do not judge me for my success. Judge me for the number of times that I fell down and got back up. Right. And that’s, you know, quite simply the story of my life.

 

Scott D Clary  14:06

So then how did you Okay, so then fine. So you make your money. recession hits, you broke at that point? That’s, that’s pretty that is that’s probably rock bottom in your life for where you know, for the success that you’ve had. How do you turn your life around? You’re building again, but you want to build a little bit differently? Right? You want you don’t want to build the exact same way because you weren’t happy than any?

 

Eszylfie Taylor  14:27

Yeah, I think. And this is something that the people who are viewing my you know, some of you might relate to, I think that really talented people have a challenge in creating scalable business. And people who create not riches, but wealth, understand the value of scale, understand that a true business runs in spite of you not because of you. And I have a particular talent, right, like, you know, I’m not shy if you can’t tell right but I have a particular talent of being in front of people and moving people Call to Action. But the challenge that occurs in that, as me working with a client on a one on one basis, is that I can only have so many meetings, I can only close so many deals, right? But if I manufactured cell phones, right, and sold a million cell phones every month, I’d be a billionaire. Right? And no one even knows my name, right? Think about Jeff Bezos right, you know, CEO or founder of Amazon, how many when’s the last time Jeff Bezos delivered a package? Right. And so so when. And that’s, that’s been the shift for me. And again, a journey I’m still in the midst of right now is how do I shift and restructure my enterprises, the various businesses that I run, that that they run again, in spite of me, not because of me, one of my biggest clients said it to me, Bassam, this really resonated with me, he said, a selfie you have created the perfect business, when you show up to work and have nothing to do. Matter of fact, when you try to do something, you mess it up. He’s like, then that’s it, right. And so that’s been etched to my head, like the last 10 years. And so I’m there. So even for me, it’s like, Man, I’m such an integral part of all the things I do, and that’s great. And I have, I love it, and I’m a big part of it. But I have a scale issue. So things like you know, things like my like my app, my body money app on the App Store, things like my show my body money, allow me to cast a wide net, be in front of millions, 10s of millions of people that and then hopefully some fraction of them act. And that is how I’m trying to gain scale in this next chapter of my life by, you know, taking, taking, taking my places of public figure taking my place of celebrity, and monetizing that, but but in a manner that I think is positive, right that if I get if I get a million people to go, oh, man, I love your vision. I love what you’re doing. I love the impact you’re trying to have on the world. And I can pay three bucks a month for all this content. That’s that’s actionable for me that to improve my life and help other people? Sure, I’ll do that. Right. When I get a million people to pay me three bucks a month.

 

Scott D Clary  16:57

There? Yeah, no, I think that’s a huge issue people have, right because they have this like super high valuable skill, and they figured out how to kill it in their career. But that scalability and now what you figured out, like, actually, by solving a very real business problem, now you can actually solve the rest of your life, which is how do you devote time to your to your better half to your spouse, to your kids to your parents like to your community? Because you really can’t do that. If you’re just great at working? Like, I was actually going to ask you this, like, how do you manage and balance all this stuff? I don’t know if there’s a secret to it. I think it’s just you gotta find a way to build a business that scales.

 

Eszylfie Taylor  17:35

Yeah. And, you know, I don’t want to make light of what it took for me to get here. It’s, it’s easy, you know, you know, from some vantage point to say, Look, you easy like, you got that house, now you got that guard. Now you’re gonna balance out. And, and so I will say like I had, and I still have to some degree that I call it the sickness, right? It you must be obsessed with success. You must be obsessed. You’re not like, anyone great, like Michael Jordan, or Serena Williams, or Tiger Woods or whatever. They’re like, all sick. They’re not like regular, not like, well, you know, I’ll practice a couple times a week and see what happens like No, obsessed. I think that you have to have that to be great. Academics, business, sports, music, you have to have that. Right. So anyone who’s listening who’s not where they want their career, Yep, you got to grind it out, right? No, make no mistake about it. What I would encourage people not to lose sight of even in the midst of that journey, is trying to maintain some level of balance or reset. I’m wired different than other people, right? Like, I get energy from others, right? So I could work 100 hours a week, 250 hours. But if I’m around people, and getting energy and encouragement from other people are good. There are some people who like less than two days a week, I gotta shut off no cell phone ever like, and to each his own. I used to, I used to look at someone like that. As I was going in my career, I would look at them as weak. I would look at them like, Oh, you don’t get it. And what I realized later on is like, you know, who didn’t get it? I didn’t get it was at this conference one time. I’m a New like, up and coming kid hotshot by running my mouth and done anything yet, but I was running my mouth like, that’s what I do, right? And I’m telling people like, this is round going people like this something else, right? And this other lady sitting next to me, and she had a completely opposite. She had been in business like 30 years. She was like, she was like, here’s what I do. I work for three months. And then I take a month off and I go travel with my family. And then I work for three months and take a month off. And as she was telling her story, I’m like, Man, this lady What is wrong with her? Do you realize if you didn’t take a whole month out how much better you can even be doing it? Right? And now I look at it like wow, that’s cool. If what gives her fulfillment is hey, I’m gonna grind it out, but I’m gonna take It is time to reach out with my kids and my grandkids, then cool. That is what sets success looks like to her. And so what I realized is that my definition of success, my definition of making, it doesn’t have to be yours or anyone elses. We’re all are all on our own journey. But the key is, you must identify what it is for you. If you aim at nothing, you’ll hit it with amazing accuracy. So you can’t to your point early, you can’t gauge yourself or or say, hey, because Joe does this, this one, I got to do it. Because Mary does, this is what I got to do. You want to be the best version of yourself, whatever that is, whether it’s making 100 grand a year, making 100 grand a day, whatever that is. Right? Right. And then once you define Well, what does that success look like to you? What does fulfillment look like to you, then boom, do the work.

 

Scott D Clary  20:46

So then, okay, so that’s, I love this dude, I love this is so important. Because when people listen to this, I don’t want them to just look at people that operate at a an exceptionally high level and be like, Oh, I’m a failure if I don’t get there. But I do want people to know, that does take a lot of work to get there. And sometimes to be honest, like the people that make it to the top like there’s, like, there’s a little bit off, like they’re not like 100%, there’s not 100% normal, like they have to put in an insane amount of work to get there, which is cool. But like, I think the people at the top also have to realize that like you, you can burn a lot of good parts of your life away if you just focus on that. And I think for the average person who wants to be truly happy. I think that just being the point zero 1% 24/7 365 From when you’re born until you die is not going to make you quote unquote happy at all, actually, and I think the people you know, it’s a cautionary tale you look at the people that are the you know, DECA millionaires and, and eat up to the billionaires and the families suffering and the multiple divorces and like, there’s things that fall away. So figure out what you want. I think that’s super, super important. How do you guys how do you figure out what you want?

 

Eszylfie Taylor  22:01

We come into this world with nothing, it will leave with nothing on it. What have you remembered for in that, in that in that window of time, in the midst? Um, you know, I again, I’m not I’m not a special person. I’m not better than anyone else. And I’m just on my on my grind. I think. I think if I had to say what am I I’m a I’m a grinder I’m a hustler. I’ve, I’ve, I’ve fallen down and gotten up and fallen down and gotten up. And that’s what I say I don’t believe in winning and losing I believe in winning and learning and taking these lessons that I’ve learned and taking these challenges that I’ve experienced, and then saying, Okay, how can I come back better and stronger as a result, you know, of these things. And so there’s just a great level of peace. There’s a great level of, of, of serenity that I have in the unknown. And that is what used to freak me out. That’s, I think what you fix a lot of people I was like, you don’t know what tomorrow is gonna bring. And I know that if I crushed today, if I do everything I can today, tomorrow, I’ll bring enough challenges and problems of its own. Let me just focus on today. Right, tomorrow’s? tomorrow’s a mystery. yesterday’s history, right? But today is a gift. That’s why they call it the present. So I’m going to unravel this present. This impression is present every day, right and cache it. And that’s what I look at.

 

Scott D Clary  23:15

I just want to take a second and thank the sponsor of today’s episode HubSpot. So I was thinking about the shortest day of the year earlier. While technically we have the same amount of time as every other day, the lack of daylight makes it feel so much shorter, which is kind of the same feeling as working with disconnected tools, or workday is the same length is always up. Before we know it. We spent three hours manually fixing something that is quote, unquote automated. Thankfully, HubSpot all in one connected CRM platform serves as a single source of truth for managing customer relationships across marketing, sales, service and operations, meaning all of your team’s data is truly connected. With multiple hubs, over 1000 integrations and an easy to use interface. HubSpot helps you spend less time managing your software, and more time connecting with your customers. Plus, with a quick and easy onboarding process, your teams can get started quicker than even the shortest day of the year. Learn how HubSpot can help your business grow. better@hubspot.com Okay, talk to me about talk to me about detaching yourself from the outcome and focusing on things you can control.

 

Eszylfie Taylor  24:17

Yeah, that is that is it, man. It’s like, here’s the deal. Right. Three questions. Do you have a problem? No. Great. Obviously, there’s nothing to worry about. Do you have a problem? Yes, I have a problem. Can you do something about it? Yes, I can do something about it. Great. Don’t worry about it. Do you ever problem? Yes. Can you do something about it? No, I can’t. Well, great. Don’t worry about it. So ultimately, all paths lead to not worrying about anything. I don’t control what you or anyone else does. I only control me. So here’s the thing. Have I have you done everything required of you today to reach your goals to be the best version of you? And if you can check that box. Yes, I have Then I don’t control the outcome, you don’t control the outcome. But ultimately you have to be the target and look in the mirror and ask yourself, have I done this? Because because you can’t be upset about the results you didn’t get from the work you didn’t do. So have you done what’s required of you? And if you have been good, does that mean you’re gonna get the promotion? Does that mean you’re going to get the man or the woman of your dreams? Does that mean you’re going to make the team does that mean? Maybe not. And that’s life, man. I’m sorry. It’s not fair. Right. But I believe it’s perfect. Because maybe you weren’t supposed to have that boyfriend, maybe you weren’t supposed to have that girlfriend. Maybe that promotion that passed you over was a good thing. Because you got another opportunity that was bigger. Each one of us has had an experience where there’s something we really wanted something we really thought we deserved in life, and it didn’t come to us. And later, we got a bigger blessing. Right? And everyone can think back their own lives and think of all Yeah, that did, right. I’m not making it up. It’s not just me. No, it’s right. And so when you stop fighting, and this is the way that it should be, and you just embrace, right and accept and breathe into it like okay, this is it, then then it happens, you know, exactly as it should.

 

Scott D Clary  26:13

So, I want to I want to talk about I want to talk about money, because that’s actually that’s actually your, your job, your life, everything that you everything you do is about helping people with money. So you have a very, I think, a very healthy relationship with money. This is like after you kind of like your, your your moment when you woke up after you hit rock bottom, and now you understand how to balance making money and you balance family and you balance happiness. And again, the mind body money connection, but a lot of people have a lot of problems with money. So who do you work with? Who are the people that you you actually work with on a day to day? Is this still something that like, of course, yeah, you have a TV show? I know you were I think the face of LinkedIn. That was a crazy story. But this is like your nine to five you’re helping people with like their most valuable asset.

 

Eszylfie Taylor  27:00

Yeah, you know, I’ve I’ve had the unique privilege of working with a lot of different people’s some class to make 100 grand a year, you got some clients again, make 100 grand a day. All right, and everything in between. There’s two mindsets, typically that people have, they can have a scarcity mindset, right? Or an abundance mindset. I have an abundance mindset, because I know how to make money. I know how to make money. Now admittedly, sometimes that gets me in trouble because I swing away, right? Like you want to invest, you know, 100 grand in this new startup, like, Yeah, let’s go. Right? Because not that I want to lose it. But I’m like, my whole thing. My whole thing is I’m gonna die with memories, not dreams, right? So I spend more and because I have this abundance mindset. I think, well, if this doesn’t work out, if this doesn’t pan out, for me, I think I can come back from it. It’s interesting, because with my clients, I have an opposite objective. It’s more of a conservative long term approach, right? I’m typically not, you know, swinging, swinging for the fences, right? Because I do believe in the end, a long and steady, you know, balanced approach is the key to success. But for me, it’s not like, should I set myself up to think about my long term goals and objectives? Or should I swing for the fences? And I think we oftentimes will find ourselves in these polar opposites, right on one or the other. And for me, it’s like, why not do both? Why not have and that’s kind of how I’ve designed my life and my businesses, I’ve got the things that all things being equal in the next 20 years, I’ll be good. I’m trying just singles and doubles. And I got the things that you might call me next week. And next next year, who knows? So like, only 400 million? I don’t know. Right? But, but I but I know this, I know that I’m going to show up, I know that I’m going to show out, I know that I’m going to put forth the effort necessary to succeed and ultimately beyond that. Your, your guess is as good as mine. So my role as as in finance, and helping clients isn’t again for me to dictate terms. And so this is what you should do. And this is where you should be as much as it is my job to tell people how things work. I teach people how things work, this how this works. And when you understand how things work, then do whatever you want. Right? But but it’s here’s, here’s where you are today, here’s where you want to be, here are the things you need to do to get to where you want to be, how do you want to proceed? And I have that conversation half a dozen times today.

 

Scott D Clary  29:17

But I was gonna say the reason why you can be abundant and I think this is something that we have to talk about and also teach over to people the reason why you can have that abundance mindset you’re you’re financially literate. You know, you know how to make money, you have self confidence, but the Self confidence is justified. So one of the topics that I think would be interesting is to speak about maybe some of the the highest earning, well, not maybe the highest earning but very high earning individuals athletes, and maybe they have the confidence but I mean, if they finish their craft and they don’t have financial literacy and they have no idea how to make more money, or they’ve never really done it themselves before. I’m sure you’ve seen this before. Like you can burn through that money super quick. So As I want to talk about athletes in a second first question, big question. It’s not going to be easy to solve today, but we’re going to try and solve it. How do we make people more financially literate? Is it universities that like, what’s what’s the thing that we’re missing as a society?

 

Eszylfie Taylor  30:14

I think it starts, you know, it starts even before college, I think I think in elementary school, I was pleased. I ran into an old elementary school teacher of mine, and they’re teaching financial literacy in grade school. And I thought that was amazing. Financial literacy. And these are basic things guys, like, you know, balancing a checkbook budgeting, right? How does insurance work? Right? How the investments work, right? What’s an estate plan? Right? Tell me about taxes. I graduated magna cum laude amongst top two of my top of my class with a degree in business. And I didn’t know 99% of this stuff until I was in it and doing it. I’ll share a quick story. So I’m three months into business, I have my biggest month of my entire life at the time I made $10,000. Right? I’ve never seen $10 in my life. So I had 10,000 Check. I’m like, Oh, great. So this back in the day, no direct deposit right on a mailbox with a physical check in and so I go, but my mailbox, grabbed the check, open the checks at $5,500. Right. So I go to the operations manager, and I’m like, Hey, today is payday. My check is 10,000. But this is 5500. So like, what do you guys you’d like break it up to like, maybe half now. And like, how late aren’t you I know that that’s your check. I’m like, This is not my check my check with 10,000. This is 5500. And she said one word that just rang in my ears. And I said, What is it? She said, taxes and taxes? How? Like, she’s like, Yeah, like you made 10,000 on this pay period, I assume you made 10,000 hours every two weeks, and you’re being taxed at the highest level. So I was like, Whoa, how does this not happened? That that was my first entree into tax planning. I’m like, Okay, how do we fix this? And so, again, unfortunately, many of us, I think, make decisions in life and adulthood like this, like, let’s see what happens. Right? And from making our 401k elections to picking insurances to what mortgage should I get? Like, we don’t know. And so, at the end of the day, this stuff isn’t really rocket science. It is not, however intuitive. It’s not like, oh, yeah, it’s all just kind of make sense. It takes a professional, it takes someone because here’s the challenge with the internet and self study, in my opinion. When you go online, you’re gonna find exactly what you’re looking for. If I Google, why is that? XYZ good, you’ll find a slew of information. If I go, why is that saying because XYZ bad information to the consumers who’s right. That’s why for me, I don’t say, This is good. This is bad. I say, this is how this works. And again, when you understand how it works, then do whatever you want. Right? But I think it starts early on, even with my daughters, I tried to teach them and, and impart these things to them early on, right? Like, you want allowance, no problem. You can have allowance, but guess what, you’re gonna buy stocks without money. And you could bet real money. I want them to understand it, right? Like, oh, I’ve got this real estate. This is my building that I own I have rental property. Let me teach you you understand the difference between commercial real estate and residential real estate? What’s the distinction? Oh, it’s four units or less that, oh, it’s four units or more five units or more than commercially? Good. Right. You know, so they understand these things. Right. And, and things that they’re learning at 1314 15 years old, that some of these things I learned when I was 30.

 

33:31

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Eszylfie Taylor  34:33

You know I’m saying and to your point, some of the things I’m teaching them most people don’t know him 3040 50 years old, right? And so you can’t win a game if you don’t know the rules of the game. And so that’s my thing. How can we be successful in finance and creating financial security for ourselves if we don’t know how the game works?

 

Scott D Clary  34:55

And I want to sell you know for fun I want to die dive into the world of athletes. But then I think for practicality, we should also just understand, like, best practices for everyone. But the reason why I love athletes because they earn so much. And actually I have a I have a podcast coming up. I’m Canadian, I used to play hockey. So all my references I referenced universities, not colleges, you maybe you’ve heard that, but I’m having a podcast with Chris Pronger, who was a big big hockey player. And he wrote a thread on Twitter about finances and like all the escrow and the agent fees and, and all the stuff that gets pulled off their salaries. And I’m sure it’s the exact same in the NBA and the NFL and the MLB. And I want to understand the conversations that you have with athletes early in their career coming out of their career, what what is the average athlete deal with? Do they go? What is the percentage of them that go bankrupt? All these crazy stats that you’re dealing with right now? Because you operate at that level?

 

Eszylfie Taylor  35:53

Yeah, it’s it’s staggering, I think, I think it’s 60 some odd percent of NFL players fall bankruptcy inside of three years of retirement shit NFL actually stands for not Not for long, right? I think it’s somewhere 40 some odd percent of NBA players after five years of ending their career, file bankruptcy, which which is actually not too dissimilar from lotto winners, same stats, I think it’s something like 75% of lottery winners file bankruptcy inside of three years. Here’s the biggest challenge. You cannot and should not confuse someone making a lot of good a lot of money. With being a good planner. Those are two different things. If I grew up in a household, without any financial literacy, without access to money without resources to plan, and I was given a four year 50 million our contract why then what I all of a sudden black. Oh, now let me tell you how to diversify your your real estate portfolio how my money should be invested mitigate my tax liability? Let me do some estate planning. Like how would you just know that? Right? And again, when I’m I’m 23 years old, and I just signed a four year 15 on our contract. And right, because I’m young, it’s always going to be like this, right? Like, I’m always like, it’s always getting like this. And so I think when you live life like I have now like, you know, I’ve been in business 2023 years, right? I’ve now been in this industry longer than I haven’t been in this industry. And I see what happens when people are good stewards of their money. I see what happens when people make prudent decisions. And I also see what people take massive risk and don’t plan accordingly. Right off rip, you go. Okay, how that but explain it to me, Sophie, how could someone make $100 million and be broke? So right off the jump? As I alluded to earlier, you got you got your partner that you forgot about Uncle Sam. Right? So depending on where you live, you don’t have 100 million 50 million. So right off the RIP, you didn’t even see 100 million it’s gone. Right? If $50 million, right. And then you bought the house and you bought the other house, you bought the Lambo, then you bought the Phantom, you had to buy your mama house, and then you’re taking care of all your boys, right? They came up with you do all these things. Your business manager wants 5% Your agent wants 5% Right, you know, little wittle wittle wittle widow so So of that 50 You might have only seen 30. And then after buying and think about it, depending on where you live, you’re here in LA, it’s your job in 456 million hours in the house, right cars, all these things, right? And now watch. Oh, I built a life that requires me to make and live on, you know, three $4 million a year. Even if I finished my career and I still got 10 million bucks. Think about it. I got pretty quick I’m but I’m but I’m spending 3 million a year you do the math? Yeah, right. Inside of four years, you’re broke. Right? Or you have to make some significant lifestyle changes. So my thing is start with the end in mind it to when I’m talking to the young guys, you’ve never had this much money. So let’s plan accordingly. Right, I got a big client, show me with him this afternoon. I’m setting up a plan with him where with just what he makes this year, just what he makes this year with proper planning, proper planning in strategies ation, I’m gonna set him up for the rest of his life if he never got another check after this year. He’s good. Right? And that’s, that’s the type of things the type of things that I’m you know, that I’m thinking about and planning for with my clients.

 

Scott D Clary  39:28

So that’s awesome. So let’s take that. I was gonna say that I want to take that lesson. So the lesson that you’re going to tell this tell this athlete this afternoon? What’s that lesson? Like? Where would you recommend somebody to put their money if you’re going to take you know, a smaller check?

 

Eszylfie Taylor  39:43

Yeah, I mean, it’s all relative. I mean, people have to do things in accordance to the time horizon and risk tolerance and objectives. Right, but I’m a big, big believer in diversification. I wouldn’t tell somebody to put all their money in the stock market, no student that I tell them to put it all in real estate or business or any other one place. I think they key when you have a lot, and that’s let’s call it the ultra, ultra high net worth, right? You actually don’t have to be that aggressive. If you’ve got $30 million, and you’re earning 5%, not a crazy rate of return, that’s 1.5 million a year in interest. Right, which most people can live a pretty good life on 1,000,005 Every year, right, not innovating principle. And so, a lot of ways, once if I can get that athlete, if I can get that entertainer bought into that idea, you can live a great life, and this kid will have the same standard of living and 23, as he will 53 and 63, and so forth, right? If he if he, if he follows suit, the challenging part is the guys at the end of their career, the guys who made the 100 million dollars, and they have the 10 million left, and they come to me and say yourself, and you know, something’s gotta give what you been doing. That’s not gonna work. We got to make some major shifts. And that’s, that’s hard, you know, for people to go through. And I had a hard conversation. You know, longtime NFL player, multiple Pro Bowl appearances, you know, living on about 1,000,005 year had 5 million hours left, he’s 32 years old. And I’m just like, you know, again, guy, 5 million bucks,

 

41:18

is technically technically if you if you drop that if you drop that million five down, and you have 5 million to play with, obviously, you’re going to have a burn rate of a couple, you know, 100,000 a year may try and keep it really low. You can even still do something with that. You could

 

Eszylfie Taylor  41:32

but it’s like people now crash and burn, man. Yeah, but so. So again, the sooner you identify, the sooner you identify those frailties and plan, the better off you are. Right. And that’s what I tell people. So you’re 2122 23 years old man, please start right. Now, to your point, this 32 year old guy could even write this shit. Right? But again, it’s like have a conversation. Well, what? Where’s this expense? All? I’ve got four houses? Well, you can’t keep four houses. Man. You can’t live? How many of those four houses you live in?

 

Scott D Clary  42:05

One one? Only one, so we got to cut?

 

Eszylfie Taylor  42:09

Right? So I think for me, the more prudent you are the better decisions you make early on, then right? Then you’re not going to have to make those massive shifts, you know, down the road?

 

Scott D Clary  42:22

And what about people that are looking at their their portfolio of options. I mean, if you look at all your options, you have everything from crypto to, to real estate, to bonds, equities, stocks, any I mean, like I’m in private equity, I’m like trying to buy businesses that are already cash flowing and profitable, you have all these different options you can play around with when somebody just wants to start, and they’re just like, overwhelmed. What’s the first step they should take?

 

Eszylfie Taylor  42:49

Yeah, the road to walk a mile begins with a single step. So don’t worry about what the guy next to you or the guy next to you is doing or all the money someone else has or doesn’t have, you got to do what works for you. So the first thing I tell people, you got to create a budget, you have to understand what’s coming in, what’s your income, then identify what I call your core expenses. Your core expenses are things like your mortgage, or rent or car payments, utilities, things that you have to spend money on, the gap between your income, and your core expenses is what I call your discretionary income. Right. And with that discretionary income, I encourage people to pay themselves first, you ideally want to have a minimum of three to six months, typically not to exceed 12 months of expenses saved that your emergency fund. And then beyond that, then you’re gonna want to look, you’re probably gonna want to have some equity exposure, right? And it looks like right now, like the inflation rates, you know, approaching nine plus percent, right? So you can’t put your money in the bank, you can’t put your money in this in a CD I call CDs, certificates of depreciation, right? You’re not, you’re not getting a rate of return and large enough to hedge and edge inflation. So you need some some, some some greater exposure to higher returns. Right? So you have that. And I’m not one who’s who’s, you know, crazy taking crazy amount of risk or swinging for the fences. And yeah, I guess you could buy that one killer individual stock that hits or you could just invest in the s&p 500. Right. 500 Basic funds and call it a day, right? Um, again, people have to do what’s right for them. But, you know, again, for me, slow and steady wins the race, right? Hey, look, you’re paying rent. You know, I know the mortgage mortgage industry is going in flux of interest rates rising, but price is starting to drop. And if you look at the affordability index, in many parts of the country, you pay just as much to rent as you do, too. Oh, yeah. And like, that’s what I did my first house, our first house was a four bedroom house. And I rented three of those rooms to my friends, and they pay two thirds of the mortgage. And so now I was able to build you know, build build up equity paid for that mortgage, right and have a home and I was just paying a fraction of that, you know of that of that cost or to your point like you’re doing investing in companies, right? And hey, these companies or maybe they need some cash flow. Maybe you’re not even actively involved in them, which is great. Like, Hey, how can I be put my money places and have my money working crazy yield for me. Right? So again, I would tell the listeners to align themselves with a professional who can guide them, align them with a professional, most importantly, educate them and do something. Right Do something. Right.

 

Scott D Clary  45:16

Yeah, no, I mean, that’s I think that’s, that’s a great. It’s like such simple advice. But you know, how many people go years living paycheck to paycheck? Or I actually, you know, I was actually gonna ask you this, but I have a thought and maybe tell me if it’s right or not. I mean, you work with so many different clients. A lot of people may be listening to this. And I’m like, Hey, I’m paycheck to paycheck, I have like, $0 to invest. But how many times when a client comes to you and is paycheck to paycheck that you actually, like, go in and do a deep dive and just discover a massive amount of bullshit that they’re spending their money on? Yeah, every time. I mean, figures, like wins, like, people don’t want to lose weight, and then you like, look at their pantry. And it’s like, just like garbage. And you’re like, Okay, well, I know why.

 

Eszylfie Taylor  45:56

Yeah. I mean, I mean, I think most people, if you were to look at your credit card or debit card statements, and you delineate what were your core expenses versus the fluff, you’d be surprised at how much money just goes to crap every month. And here’s my thing. If I make a rent payment, and I pay my car lease, and I pay utilities, and I pay my credit card and pay my cell phone, and I don’t put money away for me, my contention is you just worked for free. Because none of that money went to accumulate to create wealth for you. Right, you’re making everyone else rich. So that’s, again, why you got to pay yourself first. And again, yeah, maybe you don’t have 1000 5000 10,000 a month to put away even know how a million bucks squirreled away, maybe it’s 100 bucks, if it’s 200 bucks. But the interesting thing is even at that level, given enough time, right, you know, that you could create a million dollar nest egg in retirement, investing 100 bucks a month if you got a decent return on your money every month. Right? Because it’s just the power of, of longevity and compounding interest in time. Right. And so, yeah, that’s the key, just do something.

 

Scott D Clary  47:03

Awesome. Okay. I’m going to I have one question that I always ask our guests to close it up. But before we pivot, what are some last thoughts? You know, floor is yours for people that are listening, just mind body money, some last closing advice? And also, most importantly, where do people connect with you? socials website all that?

 

Eszylfie Taylor  47:22

Yeah, Mind Body money. As the name suggests, balance some. I have an app on the App Store, Mind Body money that you can download videos and mindset affirmations, body health and wellness, fitness videos, as well as money understanding real estate, understanding taxes, understanding finance, state planning, all these things, again, that we need to know. So I’ve got a variety of tremendous thought leaders that provide content there, the show Mind Body money, you can find us on mind body money.com to get details on where we air and upcoming videos, and in publications. I’m on Instagram, Facebook, Twitter, LinkedIn at ie selfie, Taylor, think of a selfie. Like you’re taking a photo, put an E in front, you selfie, I’m easy to find, just google me you’ll find a slew of videos, articles everywhere. I’m not shy. And I’m here. And I think the biggest thing is like its authenticity, there is nothing that you’re going to read about me, there’s nothing you’re gonna see from me on television, that isn’t who I genuinely am and what I genuinely think and how I live my life. And so I’m here to be a blessing and inspiration to others. And I hope people people get that through my work.

 

Scott D Clary  48:31

I love that man. I feel that. Okay, last question. I asked everyone, obviously, you’ve had a great career. After all, the success in your life, what does success mean to you at this point?

 

Eszylfie Taylor  48:45

Success to me, means options. Success to me means I have effectively built a life where I removed the half twos from the equation where I do things because I want to do them, not because I have to do them. And whether it be because of my self proclaimed sickness, right? Or just desire for more. I’m not there today, right? I can’t. Well, I could. But I couldn’t live in Southern California live the life I do and do the things I want and walk away today. I can probably do that a lot of other places in the world. But but but so I’m in this journey. So I’m no different than virtually anyone else by listening to this piece. They’re still We’re on a journey, right? And so, again, that’s what success looks like to me and that’s what I’m striving to achieve myself and I help others do the same.

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