The Full Life Billionaire
The Amplified Impact Podcast
July 13th, 2023
I want to dive into a concept that has been on my mind ever since I came across a post by my buddy Saul Hill Bloom.
He introduced the idea of becoming a time billionaire, and it got me thinking about success in a whole new way.
You see, the term “billionaire” can evoke various emotions and beliefs.
Some view billionaires with anger and resentment, perceiving them as symbols of inequality.
Others see them as a source of inspiration, believing that hard work can lead to similar success.
Most of us fall somewhere in between, with a mix of admiration and skepticism.
Personally…I’ve made the mistake of equating success solely with financial abundance.
I used to measure my worth based on how much money I had compared to others.
But over time, I’ve come to realize that success goes beyond material possessions.
That’s where the concept of becoming a full life billionaire comes in.
Instead of focusing solely on money…I want to introduce you to the idea of the “Bank of You.”
This concept is about creating a balance that encompasses mindset, health, wealth, skills, and relationships.
I hope this concept resonates with you and provides a fresh perspective on success and wealth.
Remember, it’s not just about the money. It’s about living a rich and fulfilling life in all its dimensions.
TWEETABLE QUOTE:
“It’s just a different way of measuring success rather than the paradigm of chasing money to become a billionaire.”- Anthony Vicino
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Episode Transcript:
Anthony Vicino [00:00:00]:
Hey, what’s up everybody? Welcome back to the podcast. Today I want to talk with you about a concept I’ve been noodling around with. I can’t get it outside of my head ever since I saw my budy, saw Hill Bloom. He made a post weeks, maybe months ago about this concept of becoming a time billionaire. And it’s just a different way of measuring success rather than the paradigm of chasing money to become a billionaire. And I think it was really interesting because the word billionaire is a really loaded term for a lot of people. It elicits feelings of anger and resentment and maybe unfairness even like a belief that nobody should have that much while others have so little. And then for other people it’s more of a term that inspires hope and maybe drives ambition.
Anthony Vicino [00:00:50]:
A belief that if you work hard on the right things that you too could get ahead in life. And then again, it’s probably true that most of us fall somewhere between putting it on a pedestal or putting it in the pit. And that’s probably where most of us truly fall when it comes to thinking about billionaires. Because they’re not really good or evil, they’re just are. They’re just a thing. Now the big mistake that I’ve made in my life was to use the idea of a billionaire as some sort of watermark of success. Like, that’s the error. That’s the fallacy that we often make.
Anthony Vicino [00:01:30]:
It’s a standard against which a lot of us are measuring our progress because we use money as the scoreboard to keep tally. And if you do that, there’s roughly 3000 billionaires on the planet. If you do that, if you use that as a metric to measure your success against, then you’re probably always going to be coming up a little bit shy. And what I’ve been reflecting on is the fact that it’s a mistake to conflate success with financial abundance. And what I mean by that is that there are many, many billionaires out there who are absolutely miserable in a way that you would never want to trade places with them. And yet when I was younger, when I was in my twenty s, I was broke. I looked around at the people in my life, people who had good corporate jobs and they were making solid money and I kept thinking that they were somehow further ahead in the game than me. And I felt bad about myself because they were winning that money game, therefore they were doing better in life, right? They drive the nice cars, they have the nice houses and you think like I’m a failure because I don’t have those things.
Anthony Vicino [00:02:33]:
And it’s very easy then for money to become the proxy for success like the score against which we measure. And I think that’s a really problematic or not problematic, I think it’s just very one dimensional. It’s a one dimensional way of measuring success in life or true wealth. Because I think the currency of genuine richness, it goes beyond the tangible. It’s beyond something that can be measured on the Forbes wealthiest 100 list. And it includes other areas such as your mindset, your health, your relationships, your skills, realms which they’re not necessarily within touch, but you can definitely feel them. And so for me, wealth isn’t just about money. It’s about the quality of our lives and the quality of the impact that we can make on the world around us.
Anthony Vicino [00:03:19]:
And it’s with this in mind then that I want to introduce to you this idea of becoming a full life billionaire. And what I mean by this is I want you to think of you as a conglomerate of interconnected banks, each one representing an essential domain of existence. So we’re going to call it the bank of you. And within this bank there’s all these sub banks that do different things. You have your community banks, you have your credit unions, you got your big national banks, your investment banks. And the banks that I think are the most important are these five the bank of Mindset, the bank of Health, the bank of wealth, the bank of skills and the bank of relationships. And the key to becoming a full life billionaire then isn’t just to max out one account while overdrafting another. This is what happens when we over index on trying to make more money, become a money billionaire at the expense of our relationships, at the expense of our physical health.
Anthony Vicino [00:04:18]:
It makes no sense to win the game in just one domain and then lose in every other because it is the confluence of these domains coming together, these banks working together, which creates the bank balance of you. And ideally, the goal is to create a full life billionaire. And so it starts for me with the Mindset Bank. For me, it’s the most important bank. It’s the foundation, it’s the cornerstone upon which all the other banks are built. Because in a very real way, your beliefs and perceptions, they shape the reality around you. Like your entire human experience, after all, is literally occurring from the day you’re born to the day you die inside your brain. It’s being rendered real in real time in your brain.
Anthony Vicino [00:05:04]:
So there is no such thing as subjective reality. There are merely 7.8 billion subjective realities. In a very real way, you are a universe of one. Which is to say that no other human on the planet sees the world as you do. And this gives you a tremendous amount of power and responsibility in crafting the world of your desires. Because if you don’t have what you want, it’s because you did not do what was required to get it. And that is the first deposit you have to make into the Mindset bank. Now, when I talk about mindset, I’m not talking about being the smartest person in the room.
Anthony Vicino [00:05:40]:
It’s not about intelligence. It’s about developing a growth mindset cultivating resilience, finding peace amongst the chaos, learning from our failures. And for me, it starts with that growth mindset, which is this belief that you have the ability to grow and to adapt. Your skills are not fixed and finite, that you can become better with effort. And I think that’s one of the most impactful places to start because a lot of people don’t come from that position. They have a limiting mindset, a fixed mindset, as Carol Dweck, who coined these terms called it. The belief that your talent and your abilities are innate and that you can’t really grow or develop them beyond a certain point. And you might hear that and think, oh, of course I have a growth mindset.
Anthony Vicino [00:06:21]:
But it’s not about having a growth mindset or not. It’s about different domains of life where you are more predisposed to having a growth mindset or more prone to having a fixed mindset. And what I mean by that is when I think about math or I think about foreign languages, I tend to think of myself in more of a fixed context. I’m not very good at math. I’m not very good at foreign languages when it comes to other domains, like physical skills. When it comes to writing, I tend to think more openly into a growth mindset. And so within ourselves, we fall into these spectrums. And the key is to realize that in all aspects of life there is room for improvement and to lean into that growth mindset.
Anthony Vicino [00:06:59]:
And so that’s the second big deposit that you can make into the bank of mindset. The second bank that I really want you to think about making deposits into is the bank of health. And when it comes to your health, it’s hard to call one more important than the other. You can’t really separate your mindset from your physiological experience, right? These two things are linked, but it’s helpful to bracket them into categories of mindset and health so that we can tackle them in discrete, concrete steps. But realistically, it’s a fuzzy line between these two things and it’s arbitrary where we draw the line. But when it comes to health, I’m really thinking about your physical health, right? And what you’re doing to manage your energy levels which the quality of your life is really going to be the result of the quality of your focus and the quality of your energy that you’re able to deploy. And so the three levers of energy which you’ve heard me talk about very frequently here the three big deposits that you have to figure out how to maximize and make as many deposits into as possible because this is the one that pays dividends for the entirety of your life. It’s so damn important.
Anthony Vicino [00:08:08]:
And once this account becomes overdrafted and you start getting out of shape, you start losing sleep, you’re not eating healthy anymore, you start losing mobility and strength and all these things. Once you go into the red, it’s really hard to get it back into the black. And so we want to take care of our nutrition, our exercise, and our sleep. Those are the three levers of energy that we really have within our ability to control our energy levels. The third bank is the bank of wealth. I’m going to leave that one for now because when we talk about billionaires, that’s the one that we tend to talk about very frequently. I’ve done a lot of other videos and content podcasts on the idea of making money. That’s a different one.
Anthony Vicino [00:08:44]:
Let’s put that aside and go straight to the bank of skills. I think the bank of skills is an incredibly important one because wealth is really the result of the skills that you have to bring to the marketplace. The more valuable skills that you have, the more that you’re going to be compensated. That’s important. But more importantly than that, I think just having skills enables you to move through the world with more confidence and ease. And so I’m a big fan of having hobbies and activities in my life that are improving me in multiple different ways, whether that’s cognitively demanding skills or physically demanding skills or just skills that push me outside my comfort zone. I think it’s very important that we think of ourselves as like a toolbox and we’re constantly just trying to bring in more and more tools, more and more and getting more and more skillful with those tools because it makes you resistant to the ups and downs of life. The more skills that you have, the more adaptable that you are, the harder that you are to kill, so to speak.
Anthony Vicino [00:09:51]:
The fifth and final bank is the bank of relationships. And this is really the bank that makes life worth living. Like when you get to the end of the road and you talk to the people who are tired and at the end of the game in their eighty s and their ninety s and they’re reflecting back on their life about the things that really mattered. The things that they remember the most were the deposits that they made into the bank of relationships. The withdrawals that they got to make with the people around them who were there, who loved them, who they have memories with. And it’s not necessarily the things that they did or the places that they went. It was the people that they were with and the way that those people made them feel and the way they made those people feel. And so truly there are the four banks before this, I think, are very internally focused, but humans are such a tribal species and so we have to find a way to incorporate community and network into our existence if we want to be fully fulfilled.
Anthony Vicino [00:10:46]:
Fully fulfilled. Yeah. That’s a great alliteration right there. And so finding ways every day to prioritize your relationships either with your significant others or with your kids, your parents, your family, your friends or coworkers, whatever it is, finding ways to make deposits into those relationships. And when I hear people say that you should start investing as early as possible in life, I always think, or I did, at least when I was younger, I always thought that meant, monetarily, I need to start investing in my 401K, my Roth IRA and all that stuff. And money will compound over time, and that’s true. But as I’ve gotten older, what I’ve come to realize is that more importantly, it’s the investments that you make into your relationships that are going to pay the biggest dividends over the course of your life. And so really maximizing your social capital and taking time to prioritize your relationships and not letting them fall by the wayside, which is very, very hard to do, honestly.
Anthony Vicino [00:11:43]:
Everybody gets busy, life gets in the way. And one of the very first thing that goes out the window tends to be our relationships or our health. Those are two that we tend to sacrifice most frequently. And so those are the five banks, the bank of you, the mindset, health, wealth, skills, relationships, bank. I want you to be thinking about, how can I make deposits into each one of these banks every single day? So that the next 1015, 2030, 40 years, you are slowly becoming a full life billionaire. So that’s my concept for you guys today. I hope it serves you really well as always, really psyched that you’re here. I can’t wait to see you back around these parts tomorrow.
Anthony Vicino [00:12:20]:
But until then, STAP your focus, my friend.
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