We Are Raising Philanthropists.
Rennie Gabriel is The Financial Coach and Author of “Wealth on Any Income.”
Often in the media, Rennie supports individuals and business owners to create work as a choice, instead of a requirement, just as he did for himself. His clients range from financial professionals, like CPAs, stock brokers and financial planning firms, to entrepreneurs in the transformational space, like coaches, authors and speakers. He also works with large organizations like the FBI, American National Insurance and Toyota Motors.
After 40 successful years in financial services, Rennie now works to donate 100% of the profits from his speaking fees, wealth programs, books and business coaching to charities, the primary one is www.ShelterToSoldier.org where dogs are rescued, trained and donated as service animals for soldiers with PTSD and TBI (Post Traumatic Stress Disorder and Traumatic Brain Injuries).
Learn more about how Rennie Gabriel can be your financial coach and turn you into a philanthropist by listening to this episode of The Thoughtful Entrepreneur above and don’t forget to subscribe on Apple Podcasts – Stitcher – Spotify –Google Play –Castbox – TuneIn – RSS.
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Welcome to The Thoughtful Entrepreneur Show. I'm Josh Elledge, founder and CEO of UpMyInfluence.com. We turn entrepreneurs into media celebrities, grow their authority, and help them build partnerships with top influencers. We believe that every person has a unique message that can positively impact the world. stick around to the end of the show, where I'll reveal how you can be our next guest on one of the fastest growing daily inspiration podcasts on the planet in 15 to 20 minutes. Let's go.
All right with us right now we've got Rennie Gabriel. Rennie, you are the President of The Financial Coach, Inc. You're on the web at wealthonanyincome.com.Tthank you so much for joining us.
Oh, my pleasure. Thank you so much, Josh.
So Rennie you're doing some good stuff in the world today. Well, we'll just start the conversation there. And so that's a little teaser for what lies ahead. But would you mind kind of just sharing your your, your superhero origin story of how you became a multi millionaire?
Yeah, I think the most important aspect of it is what I tell everybody else. And that is the wealth creation is a team sport, not a solo sport. And at age 50, I was broke. I don't think I could have put $3,000 together if my life depended on it. Yeah, I learned what it takes. I learned what it took to become wealthy and I was paying myself first 5000 year old concept, I'd accumulated $18,000 over three years and with a couple of other people, we started investing in multi unit real estate. So that turned into a few million dollars in a few years.
So now it age at age 15. Tell me about that. A little bit more about the you know what went wrong and explained to me kind of what your first steps were to kind of bounce out of that.
I'd say the first steps were to understand that while I had no money, I didn't lose what I knew what needed to be done. There were a couple of divorces, there was a business failure. And that's what took me to being broke. Yeah, first step really was doing what I knew how to do, which was coach financial planners and accounting firms and other people on how to grow their businesses. And for that, I got paid as a business coach. I wasn't making a lot of money 5000 a month, but what I was doing was setting aside $500 a month from that, and that's how I accumulated the $18,000 that they got things going. So step one, have a team. I didn't do this by myself. My wife contributed money to the real estate. We had a realtor who contributed the real estate and every successful business I've ever run across have had at least two people in the foundation that's a visionary and an execution master. I was primarily the execution master and the realtor I would say was the visionary
and So then you're you're building this so. So you just was primarily real estate. You're building a property after property is this?
Yeah, yeah, we started with three units. And within about six to eight years, we had 50 units.
Oh my gosh. Wow. Yeah. So I would imagine along the way, you've learned a few things.
Oh, yeah. Yeah, what works and what doesn't, what tenants to have what tenants to avoid, where to buy, where not to buy, how to remodel, how not to remodel? You name it?
Yeah. So it's one thing to learn from other experts another thing entirely to be just getting out and doing it and getting that activity knowledge. And, but I would imagine that you learn from a lot of mentors. Oh, absolutely. Oh,
yeah. I had coaches. I had experts I had, I would read about the success other people had and what they had done, you know, and it didn't matter if it was about startups or if it was about marketing or Real Estate, yeah, learning wherever I could from whoever I could that appeared to be success.
Now, Ronnie, you talk about, obviously your website is wealth on any income calm. And so what happens and you talk about the concept of paying yourself first. What if somebody says, Well, that sounds great, Randy but I don't have money to pay myself first.
Well, that's why it is any income, you need to have some income to get started and, you know, not be on SSI or something of that nature. And I've worked with a lot of people who had an income in the past and then went broke. Maybe they were in the real estate meltdown in 2008. Maybe they were psychologist or therapist or accountants and lost their practice, they were having to start over again and rebuild their income. So a lot of times, that's what I'm supporting people to do. So yes, it does require having an income so that you can pay yourself some percentage of that and Keep it to make investment Well,
okay, so now you written a book. It's called wealth on any income, can you kind of give us a thumbnail give us an overview of the journey that you're going to lead people on.
The first third of the book is all the emotional garbage that's in the way of people even attempting to create wealth. And the reason for that is we get a lot of mixed messages all over society. I mean, in the Scripture, it might say, money is the root of all evil or a rich man can't get into heaven any easier than a camel can pass through the eye of a needle. You've got fairy tales, like jack in the beanstalk, where it's okay to steal the money from the giant because he's rich and only the poor are the noble and good people. He ultimately kills the giant and like that's okay because the giant was wealthy and the wealthy people are greedy and heartless. You look at movies like Titanic where jack who's poor He's the good guy and the other guys rich and these mean and awful Hollywood movies Game of Thrones, you got the Starks versus the Lannister is culturally there is no indication that it's okay to be wealthy, but it's okay and better to be poor. Those are the not the noble and the kind and the good people. So that's the first, the third first third of the book has to overcome those emotional blocks, how you didn't learn from your parents, how you didn't learn from school, how it's okay to set goals on and on and on. And then the latter two thirds of the book is the practical tip by tip how to figure out how much money's coming in where you're spending it, how to set up the financial goals, how to track what's happening. So that that's how the book is designed. First, third is the emotional latter two thirds practical how to instructions. And without that emotional stuff, getting out of the way. All the tips and techniques someone provides is a waste of information. It's not going to go anywhere. Yeah,
yeah. And I think that that we have the tension Right to just, we'll just Just tell me what to do just give me the facts and figures or just give me the tools and, and, and but they haven't had the conversion of heart. And so there's there's still something lingering there. So they don't take action, you know, it's a, you know, even business success, you know, Tony Robbins will talk about, you know, 95% of the success or failure of a company comes down to the psychology of the owner, just you know, you only know what you know. And if you don't have optimal thinking, then it's just, they're just small micro decisions that you're going to be making on a consistent basis that are not going to bring you those optimal results. And we kind of need that same thing on a personal level as well as we do for our business.
Absolutely, Josh, I mean that that's right on track without having that conversion, as you talked about, where it's ingrained in you that it's okay to succeed. It's okay to build wealth. I've seen it over and over again, people who will actually do it not get rid of that garbage that they have, and then they lose it all. Yeah. That's what was happening to me time after time. But many people will hear you say that and say, oh, not me,
I don't want to be broke. I'm sick of being broke. They'll say that. But But what happens? I mean, it's and, and they don't intentionally sabotage themselves. But maybe they get comfortable at a point where they really shouldn't quite be comfortable yet, or because I think a lot of us and I just had a conversation, I was talking about this where we kind of bounce from crisis to comfort and, and we keep bouncing back and forth, like, Okay, I'm comfortable, okay, well, I don't need to do that anymore. And then we take the foot off the gas, whereas if we just keep on going, we can get into true abundance, and build up the security that we need. So we never get down to crisis again. So we keep just balancing between that crisis line and the comfort line, and oh my gosh, things get hard. So we, you know, exercise a lot of effort, we get back up to comfort and we relax, and it's the same effort just a little bit longer. Like I I do this frequently with I've done this frequently over the past, you know, adult my whole adult life, you know, my weight is that, you know, I will get to a point where I guess I'm doing all right now and then I'll start getting a little bit more lazy in my eat and then of course what happened not right away but eventually I look at I look at the scale A few months later like what come on and it's like, you know, that's just it's laws of nature.
Yeah, I'm so glad you said that because you said you look at the scale a couple months later. You know what I look at the scale every single day I am not within I'm the most is a two pounds adjustment and I say I'm up to pound time to start working. I don't wait till I'm up 1520 pounds. It's the same thing with money. You don't wait months till you get down the line to see where the money's going and what's happened. It's a it's a daily practice. As a matter of fact, I created a spending register where it It's not only daily, it's every time you spend money, you write down, am I getting the level of pleasure from where it's going? Is this in alignment with my goals? When you ask questions, and you're monitoring it on a consistent basis, those are how the transformations take place
now, so Rennie, talk to me about your involvement with shelter to soldier and how you've been able to take your success. And and let's start with why. Why get involved in something like that.
It's I'm glad you brought it up. Let me explain what shelter to soldier is. And it is an organization that finds dogs in I will call life threatening situations. They may be on the street, they may be in a foster home, they may be in the pound and they're about to be euthanized if they have the right personality and size. They are trained as service animals, for soldiers who have come back with posters Medic stress disorder and traumatic brain injuries. Our soldiers who keep our way of life here functioning, wherever they are in the world are not treated well when they come home with these problems. And so this organization is training the dogs, and providing the service members, it's all covered through donations. And instead of soldiers committing suicide, at the rate of almost one an hour, not one who's gotten their service dog is committed suicide. Wow. My wife and I've always committed to contributed animal causes and veterans charities and homeless stuff. And this was a place that saving two lives at a time so that I'm donating 100% of the profits from my online work from my books and things like that to this charity, because it feels amazing, huh?
And I would imagine then, so are you able to personally get involved or a huge You're affiliated with the organization. I mean, have you been able to go visit and or, you know, kind of see the results of, of the work that you've been involved in?
Yes, we've actually gotten together with soldiers who are graduating and received their dogs. Wow. gotten letters from people who talk. Talk about how this has saved their life. Um, if I allow myself to think about it, it gets difficult to talk. Yeah, yeah. Organizations have charged for service animals it's 25 to $30,000 to buy a dog these people can barely function, they can't buy a dog shelter the soldiers able to do all the training and the vet bills and, and the food and train the soldier and how's the soldier to train them with the dogs for $15,000. So for every $15,000 I give them, that's another dog and another human being say, wow. Anyway, so we've donated 10s of thousands of dollars to this organization. You know, I've got a goal of donating a whole lot more and that's The purpose behind my business and teaching other people I say wealth and any income is designed to raise philanthropists. It's not about making money. So someone can go out and buy another Lamborghini or a Ferrari or a quarter million dollar Porsche. It's about allowing people to do the things that touch their heart, when they have enough money that all their needs are taken care of. They don't have to work for a living, they can choose to work if they want, or choose not to work, or they can donate their time to charities, or whatever. It's it's not about having so much money, you sit on the beach in Tahiti and never give another thought to another human being. Right.
Right. I mean, if we're not here to take care of one another, what are we here for?
I have no idea I can't answer.
Well, listen, I mean, as you know, someone who you know, serve for five years and and I really, you know, the further way I get from my military service, the more I appreciate it, and the more I actually value that community and I value the role that I have within that community. So listen, I just from my own personal experience with that, you know, I just wanna say thank you so much for supporting that and, and, and I get it I you know, you know, I know the value of having a companion and and and and you know, if someone is feeling alone and and the feelings are overwhelming of what one is experienced and to now be able to share life with a companion, you know, like a pet the dog that would otherwise you know, this two would have never gotten together what I mean what, what a great gift, what a great gift to be able to make that that companionship happen.
Yeah, and these dogs are so well trained not only from turning on lights, or providing a things but literally sensing when someone is starting a meltdown, let's say they're in a department store and it's too crowded and they're starting to melt down. The dog removes them from the environment really, when they have when they're asleep and all of a sudden night terrors start out, the dog jumps up on the bed and starts hauling them until they wake up.
It's amazing what these dogs can do.
Yeah, that truly is amazing. Well, Rennie, again, thank you so much for for your involvement in shelter to soldier. Now they have a website and could you share that website? Is it is it just sheltertosoldier.org? Or
Yeah, real easy sheltertosoldier.org and it's the word to to show.org.
That's great. And when people go to wealth on any income com, what will they find? Right now
they'll find a lot of free materials they got $1,000 worth of free business building tools, how to find ideal clients, how to How ask for referrals, how to track money, all that kind of stuff. And those are just the giveaways to get you know, people on our email list and I send out a weekly email on attitudes of the wealthy myths that people buy into that, that are not supportive. And, you know, sometime down the line, maybe someone wants to buy a program, and again, 100% of the profits I donate to shelter the
soldier. That's wonderful. Well, great. Well, Rennie Gabriel, I want to thank you so much for joining us. You are the Founder of WealthonanyIncome.com and I really appreciate everything that you're doing right now. So thank you so much for joining us. Thank you, Josh.
I really appreciate the opportunity to reach more people and generate more money for the charity.
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