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Want to give yourself a financial advantage?
In this episode, Sione and Alana sit down with Tara Shim, realtor and real estate investor, as she shares her financial journey and how a couple of board games, a monthly allowance, and investing in herself and her financial education changed her life.
Raised in Kailua-Kona on the Big Island of Hawaii by a single mother from the time she was about 6 or 7 years old with very little money, her mom bought her a board game for a dollar. Playing that game every day and learning to manage the monthly allowance from her father was the foundation that started her on her journey to owning multiple properties as a real estate investor, and a realtor, and the ability to travel several times a year with her family today.
Listen now to discover why investing in yourself is the key to unlocking your full potential and making a greater impact!
5 success principles for consistent growth and wealth
When you search for ways to build lasting wealth and achieve personal growth, these five success principles are frequently recommended by top financial experts and motivational coaches. They aren't just about financial literacy—they offer a blueprint for a resilient, goal-driven life:
- Invest in Your Education: Never stop learning. Whether it's through books, courses, or mentorship, continuous education is the foundation of smarter financial decisions and personal growth.
- Embrace Calculated Risks: Step outside your comfort zone. Assess risks thoughtfully and learn from every experience—both wins and setbacks—to propel you forward.
- Build a Network of Mentors: Surround yourself with individuals who challenge you and support your aspirations. A strong network can offer guidance, accountability, and opportunities you might not discover alone.
- Set Clear, Purpose-Driven Goals: Define your "why." Knowing what motivates you helps you stay focused and resilient, even during challenging times.
- Commit to Self-Investment: Prioritize your growth by investing in tools, resources, and experiences that elevate your personal and financial well-being.
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Main Takeaways from this episode
Tara Shim's financial journey is full of actionable insights that you can incorporate into your own life. Here are the key takeaways:
- Early Exposure to Financial Literacy: Playing Monopoly and managing a modest allowance instilled a lifelong understanding of money, teaching the value of every dollar.
- The Power of Financial Education: From the concept of compound interest to lessons in passive income from "Rich Dad, Poor Dad," Tara underscores that financial knowledge is a game changer.
- Learning Through Experience: Whether it was a successful gumball machine venture or a costly mistake with a negative amortization loan, every experience provided valuable lessons.
- The Value of Mentorship and Community: Tara highlights that being surrounded by motivated, knowledgeable individuals not only nurtures growth but also holds you accountable.
- The Importance of a Strong "Why": Identifying your passion and setting clear goals ensures that when times get tough, you remain motivated and focused on your long-term vision.
"What I've learned through playing Monopoly...that was the best financial foundation I ever had in my life."
For an in-depth exploration of these takeaways and more, be sure to listen to the full episode below.
Tips for applying these takeaways:
Want to apply these insights to your life? Here are some actionable steps you can take today:
- Boost Your Financial Knowledge: Start with free resources like local libraries or trusted online courses to build a solid foundation in financial literacy.
- Take Small, Informed Risks: Experiment with micro-investments to build your confidence and learn from real-world market dynamics.
- Find a Mentor: Reach out to local business groups or online communities where you can connect with experienced professionals.
- Clarify Your Goals: Write down your personal and financial aspirations, then break them into manageable steps with clear deadlines.
- Reflect Regularly: Keep a journal to note lessons from both your successes and failures, ensuring continuous learning and improvement.
Tune in now to learn how small, consistent investments in yourself can lead to massive growth and lasting success!
final thoughts
Tara Shim's journey is a compelling reminder that the path to financial freedom isn't about having all the answers from the start—it's about learning, evolving, and investing in yourself every step of the way. Whether you're new to financial planning or looking to refine your investment strategies, the insights shared in this episode offer practical wisdom that can transform your approach to money and life.
Stay tuned for more inspiring episodes as we and people from all walks of life share their experiences and we identify the lessons, blessings, and success principles that life is providing—lessons that we can all take advantage of and learn from if we pay attention.
If you're ready to step into your full potential, make sure to listen to the episode and share it with someone who could benefit from this powerful message. And don't forget to subscribe to Recounting Life Lessons and jump onto our Insider email list for more insights, actionable tips, and empowering stories.
We are Sione & Alana
Co-Hosts and Owners of
Recounting Life Lessons
We're a married couple from Hawaii who are now living in Vancouver, Washington.
Two things that we are passionate about are:
1) Uncovering the success principles and life lessons that help us all grow into our best selves.
Our favorite ways to uncover success principles and life lessons are by sharing stories from our own adventures and interviewing inspiring guests from all walks of life on our podcast.
2) Making personal growth and consistently leveling up in your life simple and sustainable, no matter what your circumstances are.
We take special care to craft the programs and resources we create, in a way, that keeps things simple and easy to follow-through on.
Through our blog, podcast, courses, and programs, we aim to empower you to grow into your best self, live with purpose, and make a meaningful impact on the world around you.
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