Updated: Mar 15
February 1, 2022
On this episode of The Rich Equation Podcast, Ashish is joined by guest Joshua E. Hernandez. Ashish and Joshua dig deep into wealth management and wealth preservation and discuss whether you should be focusing on spending your time on taxes or spending your time making more money. Joshua shares how he sees a lot of people expressing fear and comparison issues when it comes to money. Joshua and Ashish speak about how a lot of people come from a place of scarcity and Joshua shares his best advice to people who have that mindset. Ashish and Joshua touch on the importance of mentors and how most people are willing to help you grow and share their tips and tricks with you.
0:00 – Ashish shares a brief introduction to his guest Joshua Hernandez 4:52 – Ashish asks for Joshua’s take on wealth management and preservation 6:58 – Joshua speaks about how he sees a lot of people coming from a place of scarcity along with comparison and fear issues 8:48 – Joshua shares his advice for people who are struggling with fear around money and scarcity issues 10:37 – Ashish asks Joshua if he looks at the past as a reflection for the future or does he leave the past loses behind him when giving people advice 14:34 – Joshua talks about inflation and how if you’ve got money in a savings account earning less than 1%, you’re dollar is eroding
16:22 – Joshua speaks about spending time on taxes vs. spending time creating more money 17:33 – Ashish asks Joshua about what people should be thinking about from a tax strategy perspective today and for the next 2-3 years 18:55 – Joshua shares how he got into this career 21:55 – Joshua provides an insight into who he can help and how he can help them 22:30 – Ashish asks Joshua how much time he spends thinking about money and wealth as a person in wealth management 26:50 – Joshua shares what keeps him up at night as being satisfying his clients and his family 27:50 – Ashish asks Joshua what does he whish he knew 20 years ago 30:05 – Joshua states that he is most afraid of health 31:08 – Ashish asks Joshua what legacy he wants to leave behind 34:50 – Joshua shares his daily routine and how he tries to avoid his phone first thing in the morning
37:37 – Joshua states that living a true rich life for him is living with the five F’s: faith, family, finances, fitness and fun 40:33 – Joshua states that if it weren’t for mentors he wouldn’t be where he is today 41:27 – You can contact Joshua through Instagram and Facebook @joshuaehernandez
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Ashish Nathu Welcome back to the reach equation podcast. Today, I have Joshua Hernandez with me on the show. Joshua is a certified financial educator and holds five different licenses related to investment insurance and retirement planning. He has spent the last 20 years running an agency in California where he and his team of educators support clients throughout the country with strategies that support their long-term financial goals, his passion for supporting the everyday person with resources and educational classes to help them along their wealth building journey. On this episode, we talk about what Joshua sees most frequently with all of his clients, about the mindset of money. We talk about what are the biggest pitfalls that people fall into when it comes to wealth creation and preservation, he talks about how he looks at the wealth and the financial management through a very holistic lens to help people achieve their life financial goals. I’m very excited for you to listen to this. Here he is Joshua E. Hernandez. And remember if you enjoy this podcast or find it valuable in any way, you have a duty to share it with someone else who may indeed hear this message or can get value from this content. And remember to subscribe to the podcast and leave a review so we can continue to bring massive value to you and go to our website. The Ritchie equation, podcast.com to be added to our mailing list for special access and content. Now here’s the episode.
Narrator Welcome to the rich equation podcast podcast. Are you ready to discover how to live rich today and not wait for retirement? If you’re tired of struggling and want to live your best life now, your in the right place, outdated and principles will no longer work in today’s environment. It’s time for a new approach. Your host will help you discover methods to live the new American dream. It’s time to start living the good life on your own terms and experience a new way to live rich. Now here’s your host. She’s not through
Ashish Nathu Mr. Joshua Hernandez recording in progress. Sorry. Here we go. Ready? Mr. Joshua Hernandez. Welcome to the rich equation podcast. Thank you for being here, brother.
Joshua Hernandez Hello, Ashish. Good to be here, my friend.
Ashish Nathu Good to see you. It’s good to hang out. I’m excited for this.
Joshua Hernandez Me too. Me too.
Ashish Nathu Happy new year. Happy new year. So yeah, it is early 2022. We’re recording with Mr. Hernandez. I’m really excited for this conversation, especially at this time. And I’m really glad we’re talking about it right now because your subject matter and your content and what some of the things we’re going to talk about today are really relevant specifically to the environment we live in today from a financial perspective, what’s going on with the markets, all this political change of reform and the state of our current economy and you know, the certainty and uncertainty of, of our, of our financial world. So I’m just really excited to be digging into some of this with you today.
Ashish Nathu You know, you are in the money business, you’re in the wealth management business. You’ve been doing it for a really long time and I actually have, and for, for everyone listening, like I actually have never worked with you. Like I’m not formally a client. However, we’ve been talking and working together for years. And I just so appreciate how you show up, not only as a wealth manager or somebody who is, you know, coming from that space, but also just as a just level headed financial advisor, just a really level-headed human being. And so I’m super excited for people to hear about your perspective, about money, about money, mindset, about our relationship with money, and then how we can build and grow and maintain our wealth. So that’s what this podcast is all about today, and I’m just really excited for it.
Joshua Hernandez Awesome. Awesome. Glad to be here, man. It’s been, it’s been a few years and it’s a, I’m so excited about this journey that the, the next year you’ve got going on here with not just business, but you’re really imparting some good quality, like human being type stuff and mindset stuff. I dig it.
Ashish Nathu Yeah. And you know, just to that, like, I think, which is why I’ve always gravitated towards you because I think it’s with you and the way you approach your clients. It’s always more about the money more. It’s not just about the money is what I’m saying. Right. So I guess let’s start with kind of give us a little bit of an overview about sort of your overall philosophy of wealth management, because I think it’s really important for people to hear it from you. What is your perspective about wealth management as we think about wealth preservation over a lifetime?
Joshua Hernandez Yeah, absolutely. So when people think about wealth management, you know, what they’re thinking about usually is money investment portfolios. And for me, wealth management is more holistic. It’s going to be like all a variety of areas. It’s not just about the money, it’s about your mindset, but it’s about different parts of it. So a lot of the process that I include, we call, we call it here at the seven money milestones and the seven money milestones are like all these different key areas about money. And I think that, you know, every, every successful person that I’ve met that has done well, has these little milestones checked off the box and, you know, wealth accumulation is just one of the boxes, right? So, you know, it’s, it’s, you know, the debt, the emergency fund, it is the basic education around what money is and how it works. It’s a estate planning, it’s, you know, the budget, right? So there’s a variety of things. It’s not just about growing this and it, their return. It’s like, what about all these other things that, you know, that really, you know, involve our financial life every day and how we treat it.
Ashish Nathu I love that in like the budget, the budget, the wealth creation, the estate planning, some of that stuff can be a little bit more mechanical, right. But it’s gotta be in the plan and you have to think about it. But one of the things I love talking about with you is like the money mindset stuff. It’s the, our relationship with money, how we think about money, why we spend money, or why we spend money on the things we spend money on. Like, and I guess for you, as you work with clients and, you know, you experienced the challenges that people go through about their money mindset, what are some of the most common, I don’t know, maybe trip trips or, or pitfalls of the way people think about how to save, build and create wealth.
Joshua Hernandez Yeah. So a lot of people, I think come from a place of scarcity and a fear, that’s probably the biggest thing I see happening. Like we’re always, let’s face it. You know, we, we, we need money to survive. I mean, we can get by with very little if we really wanted to. And that’s kind of a lesson on its own, you know, some times we think that we’ve got a key here about keeping up with the Joneses, you hear about, you know, Hey, this person’s got that. And so there’s a lot of comparisons. That’s when issues comparing and you can, you can have a great life without being totally wealthy. You know, I think a lot of what you’re talking about as a wealthy mindset, correct. You know, I know people that have a very modest lifestyle and have, and have don’t have very much, they live with one of the richest lives around me just because of, you know, they can still do what they want. There’s no pressures and they’re doing okay. So one pitfall is comparison. Another pitfall is fear, you know, is fear is, you know, I have the lack of, and I’m, you know, I don’t have enough of, and I’m, you know, in case something happens, there’s not going to be this bucket of money. So there’s that fear. Sure. So those are some kind of emotional things. I see. There’s a lot of comparisons, a lot of fear. Those are some, some of the things I think about when you ask me that question,
Ashish Nathu When somebody comes with that plate coming from a place of fear and, and that fear is coming from a place of loss, right? Like fear of losing fear of loss. Like here, here’s a certain amount of money. Joshua, I cannot lose this money. I’m coming from a place of fear of losing. Right. What is your advice to them? Like it’s, is it just to put money into secure, less risky assets? That’s not, doesn’t necessarily solve the mindset problem. What do you, what do you do when that comes up?
Joshua Hernandez Yeah. And it’s often not even so much about the investing scenario when people come to me about fear, it’s just like, I know just fear about money in general. Like a lot of times I find people are coming from a family where their family struggled for a very long time and their moms and dads didn’t, you know, do very well with money. So, you know, mom and dad, and now in this bad situation and here, I don’t want to be, so that’s where one of the fears. Okay, well, you know, first let’s find that out. Is that how that happened? All right. And so what, what do you think they did or did not do for them to end up where they are? And it could be as simple as, you know, they, they use their credit cards too much had nothing to do with investing credit cards.
Joshua Hernandez So, okay. That’s identifying maybe what had happened before, how are you doing with your credit cards? Right. You fall into the same trap, right. Are you, you know, what’s the interest rate on these credit cards is 20, 25%. Okay. Well, I’d be scared of that too. So, you know, how about we just attack that first and, you know, is it bad, you know, bad credit, right. So there’s always these little things that you can drill down to that have nothing to do with investing your portfolio a certain risky or non-risky way it’s, you know, where is that fear coming from? You know, there’s the other fear of losing, because they may be part were part of the 2008 crash, you know, 2008, 2009 crash. And they, they lost their entire portfolio and, and they don’t want to go through that again, that’s another fear, right? Whether they had 5,000 or $500,000, they may have lost 30, 40, 50% back then. Sure. And they kept all their money in cash the whole time. And now they missed out on this huge growth. Right. Okay. Well, how can we, you know, move forward from here for, you know, forward in a very safe way.
Ashish Nathu Do you look at, when you give advice, do you look at the past as a reflection for the future? Or do you, I mean, how much of that can you do, or is it like you got to leave the past losses, the bad habits, the, you know, the fears or the anxiety of the things that you’ve learned in 2008, in 2001, whatever, because that’s really creating the behaviors of peoples today of the habits that we create today. Right. Those traumas, what advice do you have? Cause cause you could miss huge opportunities or do you just focus on the future?
Joshua Hernandez Yeah, well, it’s, it’s hard to focus in the future without attaching it to experiences of the past. You know, our, our future decisions are always based on our experience, our past experiences. If there’s no way you can just eliminate that, you can’t just close your eyes and forget about it. So as, as you know, logically, I could say, Hey, you know, past performance is no indication of future results. Let’s just go with what we see here. And we can just, you know, as we move forward, that way, if we had no emotions, it’s just all logic, but that’s not true where we’re living in a, you know, in a world where it with, with humans and experiences. So it is important that this takes a while. And even for me to always remember that my pass does not have to indicate my future, whether it’s investment portfolios or whether it’s my personal success from my personal relationships.
Joshua Hernandez And, and so, you know, if, as soon as you start to think about, you know, your past does not have to equal your future, you can get your future as a canvas. You know, you can create a painting, however you want. Let’s take the tools we’ve got now and, and the support. So you’ve got to have some information, you’ve got to have resources, you guys have coaches and people to help you with that. And, and you can totally change your future regardless of whatever the past is. You can’t always avoid that. There’s always that little bit going on back there. Yeah.
Ashish Nathu And for, I mean, what is, what is going on in the markets right now? I mean, the things that are going on, not only in the stock market, but the money markets, the amount of liquidity and, you know, monetary policy, it’s, it’s insane how much money we’ve put into the economy. Do you, do you take all of those external factors in place when you’re thinking about wealth preservation today, or do you have a much more long-term perspective of asset allocation and just focusing on, you know, investing over the long-term and not worrying so much about short-term volatility or perhaps monetary policy? Like, what is your advice on that? And then how do you think about that?
Joshua Hernandez Yeah, absolutely. You know, I definitely factor in what’s going on in today’s world to help, you know, make decisions. But if I, if I’m talking to someone that does have, you know, 20, 30 years before they need this money, if it’s really retirement type money, then you know, we we’ve already lived through, you know, a hundred years of stock market performance. Like there is going to be ups and downs and, you know, historical shows that there’s going to be more later than they are, is today, no matter what happens, no matter who the president is, no matter what monetary policy there is, there’s going to, you know, that the market is going to grow. So that’s where I start, you know, how far along do we need this and forget about what’s going on. Who’s who who’s, who’s in an office today. Long-term, there’s a certain, you know, allocation you want to use to get there.
Joshua Hernandez Now, if we need some money or we’re making some pretty, pretty short term decisions and what’s going on today does make a difference. Right, right now, today, it’s, you know, beginning of 2022, they’re talking about raising interest rates. Inflation is at an all time high. I mean, that, that inflation is no joke. And you know, if you’ve got money in a savings account, earning less than 1%, the value of your dollar is eroding. It is less, you know, last year you had a dollar in the bank this year, that dollar is worth less than a dollar because of the cost of things going up. And so you kind of have to think about, well, I’ve got to find ways to make my money grow. That might be the market. That might be a business that might be, you know, a variety of things. And so you gotta think about that.
Joshua Hernandez You know, the market recently took a dip. You asked about what’s going on today. It took a little bit of a dip and because interest rates are going up, that means that these big firms, big companies, it’s going to be more expensive for them to borrow money. And so people are afraid they’re not going to be as profitable. So you kind of see that impact on the market. But I don’t think personally that’s going to cause another recession. I think what’s going to happen is, you know, people will start to come back to work. The supply chain will start to kind of come back to normal, hopefully by the end of the year, that means that, you know, that could start reducing the cost of things or leveling it off. And, you know, in the next, you know, six to 20 months or so, we’ll kind of have some normalization there. That’s kind of how I see what’s going on today.
Ashish Nathu Do you, do you spend a lot of time helping people on tax strategy? And that was a silly question. I know you do, but do you find that spending more time on how to save on taxes is as good of a strategy is how to focus on making more money? Like where should people be spending their energy? Does that make sense? Does that question make sense? Like
Joshua Hernandez Yeah, I think you’re asking, you know, should you spend more time on taxes or should we spend more time on making more money or earn? Yeah. Yeah. That’s a good question.
Ashish Nathu Far as the answer both.
Joshua Hernandez Well, absolutely both. You know, I, I, it’s kind of a tough one, you know, should you, I guess it depends on what year it is. Okay.
Ashish Nathu Right.
Joshua Hernandez Yeah. Yeah. I mean, there’s, you know, I talked to someone that, you know, just if I talked to someone that just had a terrible year in business and they’re going to declare a loss, no reason to really talk about tax strategy, there’s going to be some losses there. So you’re not gonna have a tax issue. You talk to someone that, you know, is now earn so much, they’re going to be 40 or 40 press plus tax bracket. Well, you needed to start talking to, you know, about some tax strategy. And then you hear all this stuff about, you know, what’s going to happen when the Trump administration law changes and, you know, potentially 20, 25, then you’ve got to start thinking about stuff, you know, in the future, but not necessarily today. Cause it’s not 2025 yet. Right, right. So it’s kind of a combination, definitely a combination of both of those things.
Ashish Nathu What should people be thinking about from the tax strategy perspective today into the next two to three years?
Joshua Hernandez Yeah. So again, when the average everyday person, you know, can’t, isn’t going to be impacted as much as, you know, someone that’s, there’s this $400,000 income level that they’re focused on writing, you went abroad, earning that kind of income is going to start to see these changes. So it’s, it’s, I’ll go back to that. Anyone below that, you know, there’s not gonna be too many changes, there’ll be maybe some, anyone above that. She started looking at some estate planning ideas with their tax and estate planning advisor and looking at what they’ve accumulated and how to maybe reduce some of those estate planning taxes down the road as well. So if you think you’re going to do well and continue to do well, then you can start doing some thinking, some plans. Yeah. Yeah.
Ashish Nathu you know, one of the things I’ve always loved about you is you’re, you’re, you know, you, we talked about this earlier, but you have such a holistic view about how to think about money and wealth management and how to save. Like, how did you even, I’ve never asked you this before is like, how did you get into this work and why do you do it?
Joshua Hernandez Yeah. Yeah. It’s, it’s been about a 20 year process for me now. So my, my degree, my, my original schooling is in computer science. That’s my first degree in my early twenties and jumped into that, that field. And pretty quickly I moved into like a training HR position at that job. And I found just naturally gravitating towards like training and communicating with people versus like being behind the scenes, doing the technical work. Sure. And while I was there, I, it still financial wasn’t at all in my, in my scope, but I was very lucky to have very successful advisor in the industry, offered us, sit with me, I’m in my twenties. I had no money. So why he’s he offered it? You know, I don’t know why, but it was, I was very thankful for it. And I learned one, I think that one hour I spent with him Ashish, I learned more about money and taxes and insurance and all that stuff with him.
Joshua Hernandez Then I learned in college and that kind of, for me at that time, just opened my mind like, wow, this stuff actually is exists. I’d heard about it. I was in some 401k plan at my job and no one’s ever spent the time. And so I was just personally interested and they started talking to friends about, Hey, did you know about this and that? And you’re like, no, no, we just have this one thing here at work. And that’s all we gotten. Okay. So I kind of found out that the average person, unless you have a big bank account, you’re not getting calls from people to help you with them with money. Right. And that’s one thing I noticed is the average industry, and it doesn’t really pay attention to the everyday person. And I thought, well, you know, I, I could, I could like see myself doing something like this and teaching this.
Joshua Hernandez So they had this kind of entrepreneurial program where they could teach someone to help you get licensed and get great training programs. So I became part of their program and that was my entry into this. And I just fell in love with the education part of this. And, you know, I ended up, you know, opening my own office and running my own agency. And now, you know, I’m, I’m helping people that do very well for themselves. And I do some sophisticated stuff around planning and merging tax and estate and wealth, but I never forget why I went to this business to begin with. And so that’s kinda my, my passion project. I just love just seeing the light bulbs turn on where I talk about a concept that someone’s like, oh, that’s how compound interest works. So that’s the rule 72. Or you can actually have these tax benefits in different types of accounts, just the fundamentals. I really enjoy teaching that. So I hold classes every month about stuff like that. I need an adviser for myself. I’ve got my own counselors to help me because I’m so personally attached where I spend most of my time thinking about is how to get better at communicating the message. That probably is where I spend the most time with now in my life is how do I get better at communicating these thoughts and concepts? You know, give us an Example. What do you mean? Give us an example.
Joshua Hernandez Yeah, well, you know, it, as a business owner, you have this vision of what you want your company to be, and you have to communicate that to certain people, to have them join your team, have quality with join your team. The better you get good at communicating what your vision is and what you have to offer, the better quality of people you have joining your team in my line of work, a lot of his reign, tangible, you know, you’ve got these investments, you all, you get as a statement, you’ve got, you know, policies, insurance policies, all you’ve got is a statement. You can’t reach out and touch it. You know, that’s, I hear a lot of times as you know, wow, I really don’t want to get into real estate. And I think real estate is a great asset class, if there’s awesome, absolutely great opportunities there, but people feel a lot more comfortable with real estate often because they can actually touch a home and walk into it and sleep it. But you can’t live in an insurance policy or live inside of an estate plan or live inside of their 401k plan. They can’t touch it. So these are intangibles. And so we have to get good at communicating with these things can do for you, how to treat them, turn them into something that you can actually make your dreams come true with. And that’s what I mean by commute, getting better at communicating a message
Ashish Nathu And how are you doing
Joshua Hernandez Well, I’m still in business. And so I guess I’m doing something
Ashish Nathu Right. That’s so good. What do you, what keeps you up at night?
Joshua Hernandez What keeps you up at night is, you know, I want to make sure that I’m often just delivering for my clients. And of course my, you know, my family, you know, you see some, if you’re, if you’re watching, you see some fun pictures, we love to, to hike my wife and I, Trump, we, this is bannock of Canada. And, you know, so I dream about fun places to get out and explore. And, you know, thankfully we built a business that gives us the opportunity to go out and travel kind of whenever we want to, a lot of what I do I can do from wherever I am virtually. But you know, aside from that on the business level, it’s always just, you know, making sure that, you know, my clients were being taken care of. And, you know, I always would like to follow through with what I’m talking about. So this thing here, this person there, we need to do. So making sure we’re, we’re taking care of our, our, our clients and people we w we care about
Ashish Nathu Either in personal or business, what do you wish you knew 20 years ago? If you knew that today, like you’d bid, that would make you so much more powerful? Like what, what do you wish you knew?
Joshua Hernandez Yeah. That, that has lot to do with, you know, the fear of failure, you know, early on. I’m not a natural born salesperson. I’m going to actual. Yeah. Yeah. You know, you, you might see me like, you know, Josh can talk, he’s giving these lectures. He’s in, does public speaking gigs, you know, in my natural, you know, place. Yeah. I love just sitting down and having a one-on-one conversation and having no one around and I can enjoy that all day. Sure. But I learned pretty early on that. It doesn’t matter how smart you are. If no one knows about you, then you’re doing no one, any good. Yeah. So
Ashish Nathu True. I love
Joshua Hernandez That. You know, and, and so you’ve got, you know, talk, we talked about tax strategy, you got some very smart CPAs out there, but they’re terrible about communicating their messenger, what they do. So, you know, and until you find out about them, they’re just in their own little space. Right. And, you know, they’re all brains. And so, you know, this is,
Ashish Nathu I love that because that’s what it’s called. That’s, what’s calling you. Right. Like pulling, pulling that content out, making it relatable and being able to connect with people like that’s your gift. Yeah. Yeah.
Joshua Hernandez Yeah. And so the, you know, early on, you know, I was so scared of making mistakes and I was so scared of this public speaking thing and getting out that if I would have done some of the things I’m doing now sooner and just, Hey, you know, it’s okay to make some mistakes here and there. That’s what life is about. It just makes you so much better. And, you know, it’s really about how you take those mistakes that you can make and how quickly you can turn them into something positive. And in the learning experience, the sooner you can get good at turning something that didn’t turn out right into something that could be better later, the faster you start succeeding in life, for me
Ashish Nathu In this juncture, in your life and all the things you’ve got going on for trying to manage a growing business you have in our family, man, what are you most afraid of?
Joshua Hernandez Most afraid of that? You know, health health is probably the most, you know, the scariest thing. You know, you hear all these things about, you know, what’s going on all around you and that’s, you know, there’s some, I’m not so much scared about that. You know, this, this COVID stuff, you know, that is a real thing, but it’s just, there’s so many ideas that you have. And if you’re in a, you know, if you’re someone that, you know, wants to accomplish certain things, you want to get it all done, you want to get it all done. And, and so I’m not fear of dying. I’ve lived a very fun life, but I do want to do more and there’s so much more to explore. And that’s probably the biggest thing is, you know, having great conversations like this, like, I, I enjoy stuff like this now and being able to collaborate and have some great conversations with friends of mine that are meaningful about like, you know, improving our communities, improving ourselves, making a difference, like, like I actually do really care about those kinds of conversations more now than ever.
Ashish Nathu It’s clear for sure with you. I mean, what do you, what do you hope that your legacy is? What do you hope to leave behind?
Joshua Hernandez Yeah. That’s, that’s, that’s like such a valuable, valuable question. And I think about that. Right. And you know, I’d like, you know, first I don’t, you know, one of the things personally is I don’t want to be forgotten so quickly. Right. I would like, you know, you know, nephews, nieces, you know, you know, and their kids to say, Hey, you know, we had an uncle, Josh, you know, he had done some things. And I’m like, here are some lessons that he taught me personally, you know, that, that has helped me. So I’d love, I mean, you know, I’ve got my clients that I love what we do because we’re actually impacting people’s wealth, which actually could be intergenerational. So that’s what I love about my career. And just as importantly, it’s just, you know, family, just little things about how to treat people and how to go about, you know, you know, achieving the things that you want. And those are the things I want to have my family talking about, you know, 50 years from now. I love that.
Ashish Nathu I love that perspective. And you know, thinking about legacy and when you leave for people not to forget you quickly like such a critical thing, which means you really need to make the impact deep. It’s not just making impact. It’s like you got to make the impact deep. So it sticks it lingers. I love that, man.
Joshua Hernandez Yeah. You just, you just like took the feeling out of it. Absolutely. It’s, you know, you could say, Hey, I want to, I want to have the best vacation in Hawaii possible. So you’re going to have a great Hawaii experience and you plan all this stuff out, and then once it’s over, it’s over. But if you want to plan something, that’s going to last beyond you. This is just a whole different level. I love that. That’s so some of the things I’m beginning to think more about,
Ashish Nathu Well, I mean, what, what I pick up from that, and what I hear from that also is, and, and you said it too, is like, it’s about the people. It’s about the connection, right? I mean, you mentioned some people in your life there. And even if, as I think about this question, it’s like, it’s not about the businesses you build. It’s not about how much money you have. It’s about like who it’s the, who it’s, who’s going to remember and what are they going to remember? And did they remember that time that you took a 15 minute walk with them and were incredibly present and taught them something that they’ll remember for the rest? Like you remember that one guy who spent one hour with you 20 years ago, like, think about that that’s lasting legacy. So I just, I love how you frame that and which is why, I mean, we’re friends and why I love talking to you, like, it is really about relationships for you and to such a great, healthy reminder.
Joshua Hernandez Yeah. Yeah. It’s it w when you, when you spoke about that, there there’s certain people that have made a lasting difference in your life. You know, you, you know, I’d like to be that person to make that lasting difference, but that’s also a very, can be very burdensome if you were trying to think about how can I do that for everybody? So you also have to, you know, think about that. Like, don’t just be that person, I guess, is also a very important thing for me is just B P
Joshua Hernandez Beautiful. Do make it who you are and what happens is it just becomes, it just happens on its own, but it’s a pursuit, right. It’s a kind of a daily thing. It can’t just be, you did last week.
Ashish Nathu Do you have a daily routine that helps you perform at this level?
Joshua Hernandez Yeah.
Ashish Nathu What is it
Joshua Hernandez Every morning I’m waking up? Well, I have what my routine should be. And then I have my routine. My routine is right now. So let’s talk about what it really is right now. And just some of the basic stuff that I do, just, it’s all about mindset for a lot of people. They’re, they’re naturally drawn to picking up the phone, seeing what’s going on in the news, seeing what’s going on in their social media accounts. I chosen personally not to do that. I chose him personally to feed my brain what I wanted to first thing in the morning. And so, you know, that often is what I’d like to accomplish for the year. Just a few basic thoughts about, Hey, here’s what I want my year to turn out to be. Okay. And then, you know, just, you know, I’m, I’m going to either listen to a podcast or I’m going to read a that I’m reading.
Joshua Hernandez And, and it’s just about mindset about improving myself. That’s typically how I start my day. And then I move into, what’s important to get my day done. And then of course, there’s getting it all done. I need to spend more time getting some exercise in the way I need to. So there’s this part like, and so that, that that’s gotta have, you know, that’s got to happen and, and that, and so that’s where I’m most inconsistent, but, you know, we love the outdoors. We love staying busy and active. And so kind of chalking it up to that. I love that.
Ashish Nathu I mean, I, you know, we talk about routine on the podcast so often, because it’s so important to start your day and have a routine where you control what comes in. And, you know, what I just picked up from you was like, thinking of just reading a couple of sentences of what you want your year to be like. I mean, we’ve spent all this time early in the year goal planning or your planning. And it’s a, it’s a great reminder here sitting early here in 2022 in January, thinking about like how we maintain those goals and those consistencies, but to like, read that stuff in the morning every day, he’d like in parts into your body, into yourselves. So such a good reminder for me, like, thinking about that,
Joshua Hernandez It’s easy to get caught up in like, doing, doing the, the details that I forget about the reasons why kind of the big picture. And so I try to spend at least a few minutes and it doesn’t have to be like a one hour meditation meeting. It could be really five minutes. Hey, here’s kind of what I like, you know, just you through it, like, right. Okay. Got it. Got it. And I reminded myself, okay, now it’s time to get into everything else.
Ashish Nathu It is a good reminder. It’s like touching a cornerstone, right? Keep coming back to north north, right. Every day and daily routine is so important to me. What do you, one final question, as we wrap up here for you, what does it mean to live a rich life?
Joshua Hernandez For me, living a rich life is, is a five. What I call the five FC. You’ve probably heard of it. I like to live by that faith, family, finances, fitness, and fun. Woo. My goals are set around those five F’s. And so we’re living a rich life. Isn’t just about the finances. It’s about all those other areas, right. So if you’ve got a faith, you’re kind of spending some time, you know, either weekly or daily or monthly kind of around that, whatever that is for you, you know, for me, and then there is a family. Yeah, absolutely. You know, finances, fitness, whatever that means. And then just being totally selfish, you know, fun, just doing something that just is all about you and giving yourself permission to do that. And so that’s for me is living a rich life is always kind of thinking about those areas. And it’s not always easy to like be balanced in those areas when you’re, you know, kind of going supercharging, having a business, you know, you were always kind of lopsided. And that’s one thing I’ve realized is that there’s no, I think there’s moments of balance in our life and that I can get to as many moments of those as possible. Then I think I’m living a rich life,
Ashish Nathu I guess I do have one more question. Do you, who, who do you look up to? Who, who is your, do you have mentors or who do you look up to and aspire to learn from?
Joshua Hernandez Well, a lot of my mentors have been, you know, I mean people that I, that I personally know, I mean, there’s successful people out there that follow, but you know, they’re, you know, unless they’re personally spending time with you for me, you know, they’re, they’re, they’re giving me some basic info, but you know, it’s going to be, you know, people that have, that have been successful either in my line of work one or two key people that, you know, I go to for guidance. And I asked for questions, people in my family that I like the way that they think, and they lived their life. And so I’ve got a handful of people that, you know, mentors that I go to, you know, there’s people that I’ve kind of grown up with the same age, you know, some business we’re all going through our kind of struggles, but we’re always feeding off each other. Yeah. I’ve got, I’ve got a handful of folks that are that way.
Ashish Nathu Yeah. I don’t, I don’t know why I just asked that question. It just came to me. But like, you know, as you were speaking there before, it just reminds me like how important it is to think about who, you know, who do we look up to and who do we aspire to be? You know, who is the, who’s the next highest version of ourself that we can focus on and start to work on those things right. As we live our life. So I don’t know why I popped that question to me, but it’s just a healthy reminder for everyone to always think about mentors and people to look up to.
Joshua Hernandez Yeah. Yeah. It is so important. Had it not been for mentors? I, I wouldn’t be where I am today. Had it not been for all the books I read. I mean, I could give you a list of just, you know, a bunch of mentors that I’ve, you know, read about through books. You know, over the years, these are all people that have contributed and shared, but you gotta find someone find someone that is living, you know, the kind of life that you’d like, not just monetarily, but in the way in which they go about their life, how they treat people. And you’ll be surprised at how people are willing to have a conversation with, with, with you and, and what they love most is someone ready to listen in and follow through. And, and, and that’s, that’s that takes time to be ready for that.
Ashish Nathu I love that. So Joshua, if people want to get ahold of you or connect with you, learn more from you, how can they, how can they reach out?
Joshua Hernandez Yeah. So I got social media, they can search for a Joshua E. Hernandez on Instagram. Instagram is Joshua Hernandez. You can also, you know, look for the same Josh with eat Hernandez on Facebook, throw that E in there. That’ll, that’ll pop me up. There’s a few out there. Joshua Hernandez
Ashish Nathu Put all your handles in the social media links and we’ll put it all into the podcast recording too as well. Yep. Well, look, I really honor you and appreciate you being on the podcast today. I’m, I’m really glad we were able to do this finally. And you just have so much to give in your you’re doing such great work with people, and I really appreciate your holistic perspective about life. And so it’s just been really great to spend time with you. So I appreciate you being here, brother.
Joshua Hernandez Yeah. That I, it was great being here as well. And it could, it could hanging out with you and thanks for the opportunity. This was fun. Yeah.
Ashish Nathu Thanks.
Narrator Thank you for listening to the rich equation podcast with Ashish Nathu. Do you want more ideas on how to live rich? Go to rich equation, podcast.com for show notes and resources. Then take one minute to leave a sheet of five-star review on apple podcasts and we’ll see you.