136. The Cost of Procrastination | Jimmy Molloy

Andrew Fix — Tue, 03 Sep 2024 17:26:16 +0000

“I had the opportunity to hear Jimmy Molloy give a short presentation to a group, where he shared his financial expertise on what procrastination can cost you in the long run,” says Dr. Andrew Fix as he welcomes Jimmy, a seasoned financial advisor from Blue Collar Financial Advisors, back to the show. With over 25 years of experience in the financial industry, Jimmy breaks down how delaying important decisions can lead to significant long-term costs. He emphasizes the power of compounding interest and the critical need to start early.

In this episode, Dr. Fix and Jimmy also explore the strong connection between financial health and physical wellness. They shine a light on the dangers of procrastination in both areas, urging listeners to adopt a proactive approach. What steps can one take now to avoid the high costs of delay? Tune in as Jimmy offers practical strategies to help you overcome common barriers, encouraging you to take control today and secure a balanced, healthy future.

Quotes

“I sit down with clients all the time and, when appropriate, I’ll even share some of the mistakes I’ve made throughout my career. Just because I’m in financial services doesn’t mean I haven’t made one or two, maybe even three, bad financial decisions. I’ve made them for the same reasons I discuss with clients—it’s the psychology of money.” (14:53 | Jimmy Molloy)
“We live in a society where we’re reactive to everything.” (24:27 | Jimmy Molloy)
“It’s my relationship with my clients that develops over time, adding to the value I bring to the table. The more they trust me and open up about what’s really going on, the better I can help facilitate whatever they’re trying to achieve.” (32:45 | Jimmy Molloy)
“I love getting someone on the right track. It doesn’t take a ton of my time, and if you’re engaged in your financial future, I will be too. But I can’t care more about your finances than you do.” (01:02:48 | Jimmy Molloy)
“I’m like, ‘Jimmy, people have trusted you with their life savings, if you will.’ I don’t take that responsibility lightly. It really gets to you at times, especially when the markets are volatile, and you know people are scared.” (01:06:02 | Jimmy Molloy)

Links

Connect with Jimmy Molloy:

LinkedIn: https://www.linkedin.com/in/jim-molloy-0488072/

Website: https://www.bluecollarfinancialadvisor.com/

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Connect with Physio Room:

Website | https://physioroomco.com/

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Andrew’s Personal Instagram | https://www.instagram.com/drandrewfix/

Andrew’s Personal Facebook | https://www.facebook.com/andrew.fix.9/

Podcast production and show notes provided by HiveCast.fm

The post 136. The Cost of Procrastination | Jimmy Molloy appeared first on Physio Room.

45. Growing Old is Mandatory, Doing it Well Optional | Jimmy Molloy

Andrew Fix — Tue, 06 Dec 2022 19:48:53 +0000

“Investments is just one of the areas that we look at when we look at somebody’s overall financial health,” explains Jimmy Molloy, President & Owner of Blue Collar Financial Advisors. Although planning for our retirement seems unrelated to our physical health, the two are very connected. Today, Jimmy shares how to navigate financial planning to better our overall lives.

Just like dieting, it’s better to make incremental changes when accumulating wealth. We may think that cutting down expenses like eating out will be the saving solution, but attempting strict frugality too fast will be challenging to sustain after a few weeks. To help make retirement part of your long-term planning, Jimmy suggests slowly reducing spending to gain monetary wellness in a manageable way.

Exploring your finance options will make you healthier long-term. Learn more about the similarities between Dr. Andrew and Jimmy’s industries, putting together a foundational plan, and why financial advice is not just for the rich and famous.

Quotes

• “Where I came from was relationships. What I do now is really relationship-driven.” (4:40-4:45 | Jimmy)

• “Investments is just one of the areas that we look at when we look at somebody’s overall financial health.” (14:04-14:10 | Jimmy)

• “Most regular people are out there, working hard, and need advice. And that’s my job to bring that to the table for people who don’t think they can afford it, but truly, it’s a conversation they need to have.” (30:26-30:41 | Jimmy)

• “A financial plan is not a one-and-done document. It is a living, breathing entity that changes as your life changes.” (33:15-33:25 | Jimmy)

• “If you take care of your body to the best of your ability, you will enjoy those later years in life. That’s the same thing with your finances.” (39:03-39:10 | Jimmy)