The Important Role of Kindness and a Little Math When Stacking Benjamins (SB 1500)
Apr 8, 2024
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James Rhee, MIT professor, and author discuss the power of kindness and math for attracting wealth. They touch on trending cuts in wedding expenses and how to manage wedding budgets. The episode includes entertaining trivia and insights on gratitude in the workplace.
Kindness and honesty are crucial in leadership, even in unfamiliar industries.
Understanding people's behavior goes beyond mere numbers and requires kindness.
Recasting a mortgage can lower monthly payments but may prolong the payoff timeline.
Deep dives
Parent's Journey in America
Growing up as the son of first-generation Korean American parents in a neighborhood where fitting in was a challenge. His parents demonstrated great courage and resilience in adapting to new cultures, from a Jewish neighborhood to a Catholic community, while sacrificing their own traditions.
Transition to Leading a Company
Transitioning from a career in venture capitalism to becoming the CEO of a struggling fashion company that catered to black women. Despite initial apprehensions and lack of expertise in fashion, he emphasized the importance of kindness and honesty in leading the company.
Liberal Arts Education Impact
Drawing from an education in American and English history and literature, he prioritized understanding people's behavior and translating it into various forms, beyond just numerical analysis. Integrating kindness and mathematical honesty in his approach, reflecting a broader view of leadership.
Red Helicopter Story
Reflecting on his childhood memory of a red helicopter toy and the challenges he faced showcasing it at school, highlighting themes of cultural assimilation, generosity, and belonging. This symbolizes embracing individual uniqueness and the journey to find acceptance and understanding.
Lead with Kindness and Seek to Understand Others
James Rhee shares a powerful childhood story about receiving a gift from a family in need, leading to a realization of the importance of kindness and empathy. His father's lesson highlighted the value of abundance mindset and the significance of simple acts of generosity. Reflecting on the Red Helicopter symbol, Rhee emphasizes the importance of intuitive wisdom, truth, and kindness when facing challenges, promoting a mindset of simplicity and grace.
Consider the Goals When Recasting a Mortgage
In response to Monal's question on recasting a mortgage versus paying off the principal, the podcast discusses the implications of changing mortgage terms without refinancing. Highlighting the need to align financial goals, such as paying off the house in a specific duration, recasting the mortgage may lower monthly payments but could extend the payoff timeline. Insights from OG underscore the importance of focusing on one's objectives and evaluating how changes in mortgage terms align with long-term financial plans.
How can simply being kind (and using math) bring more Benjamins into your life? Today we explore the topic of how changing your outlook towards others can attract more abundance and wealth in life when Joe sits down with our mentor, the brilliant James Rhee, MIT professor and author of the hit book red helicopter: a parable for our times: lead change with kindness (plus a little math).
In our headline, we talk about the recent cutback in spending on lavish weddings, and how much is too much to expect to spend on your nuptials? Plus, how do you get out of budget for attending a wedding you've been invited to?
Stick around for Doug's wandering trivia! You're sure to not feel any older after his knowledge!
