How Reading With Intention Can Earn You More Money and Financial Security | Transcription

Transcription for the video titled "How Reading With Intention Can Earn You More Money and Financial Security".


Note: This transcription is split and grouped by topics and subtopics. You can navigate through the Table of Contents on the left. It's interactive. All paragraphs are timed to the original video. Click on the time (e.g., 01:53) to jump to the specific portion of the video.


Intro (00:00)

This is 15 minutes of freedom. I'm your host, elite life optimization coach, Ryan Nidell. And today is day number three inside the quadrant of life referred to as finance.

Incorporating Effective Techniques For Better Cognitive Development

Paying yourself first (00:26)

If you tuned in yesterday, we bounced all over the place. Paying yourself first, some potential different investment strategies, jumping away from overfunding 401ks and all types of nonsense. Hopefully by this point, your brain is at least spinning on what is possible. Because maybe you've never thought about it before. Maybe you've never even considered the possibility that what we are taught about money and how to utilize it is flawed. Maybe you've never considered that the reason why the middle class, in my opinion, exists is obviously for a multitude of different variables. But when education is passed down generationally and our schools and the systems that are in front of us are all created to ensure that only so much information gets passed down. It's the force of average. That everybody's drawn to the middle. of average, that everybody's drawn to the middle. And so you have the uber wealthy, the ones that we seem to like to pick at, that they don't do what they need to do in X, Y, Z. Could it just be that they understand the rules of the game of life a little bit differently than you and I do? And the picking of them is based out of jealousy, a bit of envy, a lack of understanding, who knows, right? By no means am I looking to get into a political conversation on this show based around a socialistic or communistic or democratic view. What I'm asking you to do is simply consider what could be, which is the perfect segue in today's conversation, which is ultimately about how we grow. You see, in the truest form, in the most base level fashion, as it pertains to the finance quadrant of how I believe we should live life, the very first thing we need to do is to read. Yes, read. Think about that. When's the last time that you read something that wasn't some BS internet article, that wasn't flipping through a magazine, right? When you held an actual physical book in your hand and you read it. Probably a while ago, at least for most. Why is that? I have my own reasons, but we'll get to that in a moment. See, originally, I would have referred to this as discovering. Because as we read, it is my belief that in the mornings when you read, you should be reading to discover something new. Something that can impact your day immediately.

Original senses, then fully grown (03:24)

Something that can be applied to your life, something that can scale where you want to go. What's fascinating is we look at the school system, at least the school that I went to, and we were essentially taught to read for completion, right? You have to read this book by this day to pass this test, and so that's what it is. You're reading for completion, right? You have to read this book by this day to pass this test. And so that's what it is. You're reading for completion. Nowhere in there was it even a remote possibility of reading for a lesson, right?

Reading for completion (03:53)

What if you and I pick up the same book and as I'm reading it, I'm like, man, I know all this stuff. I've read this before. I've applied it. My life has all these variables. And you're sitting there page by page having your mind blown because it's new information.

My opinion to train letters (04:15)

Why wouldn't I keep reading on a day-by-day basis until I find a gift, a lesson, a message? Well, it's my opinion that I should.

Finding the right way (04:26)

Again, my opinion. This is also how I train a message. Well, it's my opinion that I should. Again, my opinion. This is also how I train a client. And I can almost hear you right now. I don't read, Ryan, but I listen to podcasts and I listen to audiobooks.

Choosing the way (04:41)

and I listen to audiobooks. I could be mistaken, but I don't remember saying, listen to a book. I do remember saying, read a book.

Reading again (04:58)

Let me explain to you why. When you look at neuro-linguistic programming, NLP for short, neuro being, neuro being essentially the use of neurology, the neurons, the firing in your brain, linguistic language, and then obviously programming to reprogram. When you look at these things together, there is something that goes on when you physically are holding something in your hand, right?

Your utility play (05:26)

It's kinesthetic. When you're in a quiet place, free of distractions, when you hear the pages turn and you fall along with your finger. Now, Jim Quick in his quick reading program would encourage us not to actually read aloud in our mind. Your voice, how we were taught to read as young children, read out loud to the classroom, Billy.

Neuro-linguistic programming (05:47)

Our normal speech cadence is somewhere between 120 and 140 words per minute. And so what ends up happening is as you progress through your adult life, you're never taught how to read once again. And so reading feels slow and laborious because you're only reading as quickly as you could speak. And so you take a 200-page book and it takes you what feels like a month to finish it.

Incorporating memory recall (06:17)

Well, in the true sense of optimization, what if you could speed up that reading while increasing memory recall and application? It'd be incredible.

You have forgotten from your memory (06:33)

That's what Jim Quick has taught. That's what I have applied to my life. Right where at the most base level you have the book in your hand, you're in a quiet space, free of distractions. You have no music on. You don't have television on. You're solo. You're locked in. You're focused on the task at hand. you don't have television on, you're solo, you're locked in, you're focused on the task at hand. You take your finger or a ruler or a pen and you go underneath the lines, left to right. And as you go underneath these lines, left to right, instead of reading the words in your head, you view them almost like pictures on a movie screen. Now certainly we're not jumping from word to word, we are viewing the words for what they are. And as you become more and more efficient and proficient at this, all of a sudden now you can cut off quarter inch margins on both sides of the page. So now you're reading very rapidly.

Forgetting the multiplication tables (07:21)

That typically is three to four hundred words per minute. Some get as high as six to 700 words per minute.

Protection Against Forgetting And Utilization Of Daily Work Time

30-45 minutes a Day? (07:27)

So let's think about that. If your normal speech cadence is 140 words per minute and it takes you a month to read a book, if you can get up to 600 words per minute, it takes you a week. That's right. Read a whole book in a week. Now taking that even further, I have created timetables that I'm going to read no matter what. There's a 30 minute window in my day every morning without fail. It's not a negotiation. It doesn't matter if I'm traveling, if I'm in a different time zone, I have a backpack with me that always has extra books in it. And I'm going to read for 30 minutes because after I meditate and then after I future self journal and get all the nonsense from the day before clean out of my mind and then fill it with who I'm going to create, what I'm doing right now. Then I want to backfill it with useful and impactful knowledge that I can apply today to my life to hurry up and have me meet that future self version.

Multitasking: A Fallacy? (08:36)

So I have to read. And I have to be focused, right? You as you're saying, well, Ryan, podcasts count. My friend, the odds of you listening to this show right now in a room without a TV on, without a computer turned on, without distractions, without driving in a car is next to zero. The idea of multitasking is a fallacy. the idea of multitasking is a fallacy. Our efficiency drops by as little as 30% when we attempt to quote-unquote multitask. There are plenty of books, I recommend one called Deep Work, that pushes into the mindset and the skill set associated with chunking out your time and being ruthlessly committed to something during that time. Don't glance away. Turn your phone on, do not disturb. Shut off the email notifications on your computer. Shut down the TV in the background. Tell everybody to buzz off. You're going to focus for 45 to 50 minutes on one task at hand. And mine happens to be every morning reading. I read for the 30 minutes. And then I take time to journal and write out for the next 15 minutes how I'm going to apply that in my life today. Right. Reading is all well and good. I believe that to help accelerate our growth as individuals.

Puzzle (10:08)

Why wouldn't I want to learn from your life lessons so I don't have to copy them myself? I don't want to stub my toes as many times as you have. But in order to actually make something happen, I have to apply the knowledge. Well, if I don't write it down and I can't formulate how to apply it, right? We'll take this idea from deep work of chunking out your time. Well, how can I make that actually work today? I look, I'm like, man, if I move this appointment around and I call this person and I shut down my computer and everything from this time to this time, I'm going to try it today. I'm going to attempt this and see how it works. Or if I just read it, right? It's like, Oh, that's a great concept. That's a great idea. And off about my day, I go, if you are a reader, how many times have you actually done that? Where you're reading books, you're reading books, you're reading books. You don't retain anything. You don't apply anything. And all you do is have this stack of books in the corner of your office or somewhere in your house that you're reading books, you're reading books, you don't retain anything, you don't apply anything, and all you do is have this stack of books in the corner of your office or somewhere in your house that you're like, yeah, I read all those. But your life is no different. It's because you didn't apply it.

Shawn Rachofsky (11:20)

Same thing if we pivot into listening to books and podcasts, right? I'm honored that you share time and space with me. It's beautiful. I love connecting with you. But if all you do is tune into this and just like go about your day afterwards and you don't challenge it, you don't question it, you don't try to apply it. At some point I'd ask you, why do you listen to podcasts? Why do you care? I mean, sure, maybe my voice is soothing over the headphones in your ear or speakers in your car, but it seems pretty foolish. What I believe was Einstein that said the definition of insanity is repeating the exact same thing except expecting different results. And you sit there and you look at your life right now and you consume podcasts and you read books but nothing is changing. You just can't get out of your own way. My friends, because you're not applying any of the shit that you're learning. I can say that without physically meeting you because I know it used to be me. Hey, I read a book a week. I'm going to do that for a whole year. That's going to make me brilliant. Sure, I'd do that. Last year, I read a total of 62 books. I'll tell you, the first half of the year, I did a horrible job of applying. I read to read. I read because I said I wanted to read a book a week. What in the world did that matter? It wasted time. What, so I could post on social media? So I could feel better about myself? So I could have a bookshelf in my house filled with books that I could say that I read, so I felt more intelligent. Second half of the year, I started jotting down notes figuring out how to apply it every day actually coming in and attempting to apply it still gonna take 66 to 70 days to make these new thoughts and applications part of your daily rituals. Some of the things I would attempt didn't feel right they didn't stick so I try them for a week or two and replace it with something else. Some things were brilliant and I still do them. But I wouldn't know any of that without actually attempting to make a shift. I wouldn't know all that without actually spending time to read and putting myself first to the level that allows me space and time to read.

Conclusion On Audiobooks As Learning Tools

Everything I Learn (13:38)

The morning is this beautifully powerful time where if you're someone that wakes up and you're always on the go and you don't have any time for yourself, I'm going to lean into you and ask you to get up a little bit earlier. Even if it's just 20 minutes for a while, just hop in the shower and then go downstairs and read before your day starts. There's so much impact that can come from that. And so today there's a couple, right, a couple key points, a couple key takeaways. First one is audiobooks, podcasts don't count as daily reading. You're not increasing the efficiencies of your neural pathways inside your brain. You're doing something to occupy time and space and give you conversation points of the things that stick. Don't get me wrong, listening to audiobooks in the car is great. I would rather listen to that than the radio. But it's to reaffirm what I have in my hand. It's not to fully digest content. Because as you're driving, there are other things you have to pay attention to. From there, the next takeaway I'd ask you to remember is that physically writing down notes and figuring out how to apply what you learned is going to exponentially increase the growth you experience in your life. It's a beautiful practice overall. And the third part, the final piece, is when you say you don't have time, might as well replace that with I'm not willing to make time. Because you can certainly get up just a little bit earlier to fill your brain with good things that will propel you forward in your life, in your business, in your relationship, in your spirituality, in your meditation, I don't care where it is. There are areas of opportunity that you can learn from other people that have far more reps than you or I. Which gives you like that download from the matrix, right? When Neo's sitting in the chair and the cord goes in the back of his head and it's just here, here's all the stuff. Plug in, get the stuff. Don't learn the lessons all the tough way. You don't get extra credit for having it be more difficult to live your life. And my friend, what I can assure you is when you begin to do the work, when you begin to read, when you begin to apply the things that you learn, very rapidly after that point, you very quickly begin to get shit done.

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to Wisdom In a Nutshell.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.