EP.34 “Financial Freedom”
Join Steve Melia as he learns of Larry Smith’s journey to Financial Freedom.
Achieving Financial Freedom with Larry Smith
I first met Larry back in September of 1998 when I was attending my first seminar with LegalShield as a guest. I learned that he was one of the presenters the following morning and he would be sharing the business opportunity and compensation plan. He quickly earned my respect as a straight shooter and a numbers guy that could paint a clear picture of how success is achieved. For the last twenty years, he has been one of the company’s top income earners and we’ve shared many great times all over the globe.
My objective of this episode…
is to have the viewers learn from his journey and walk away with some clear advice on making money, having that money work for you and most of all achieving freedom in your life. Larry Smith’s rocky path started off by him leaving the house at age 17, distancing himself from his broken family. He tells us his incredible story of how dissecting a frog and reading the classic Silas Marner in high school eventually led him to where he is today. (3:00)
Larry got his wake up call after spending 20 years in corporate 10 of which at Pillsbury, following two tours as a highly decorated Vietnam Vet. He shares how he believes when you are working for someone else you are never truly safe. He had a cushy job, salary, benefits with no end in sight. Then the end came as it does for many and he was given his pink slip. (6:47)
Now What? Time for a “mid-life review”
This is when Larry began studying financial education and did what he calls a “mid-life review.” Larry shares how he, like most, fell into the trap of living paycheck to paycheck upgrading his lifestyle every time he got a raise. His answer was a plan B, specifically network marketing. He shares the difference between leveraged income and linear income.
“Wealth is determined not by the money that you make when you are working, but how much you make when you are not working.” -Larry Smith (9:00)
He goes on to share how important it has been to him to live on as little income as possible, not by cutting down his lifestyle, but by having a plan. He currently lives on 19% of his income and uses the rest to invest in various businesses. (11:40)
Larry continues by recommending his favorite books on getting a financial education and shares how he has become known as the “medicare millennial.” (12:13)
His Network Marketing Career
Larry walks us through how he answered an ad that led him to LegalShield. He details how he started with a $49 investment in the form of a hot check and how he’s turned it into millions. He continues by addressing the importance of believing in what you are selling and how personal development has meant everything to him and his team. (15:10)
“What I love about network marketing is that you get rewarded for the work that you put in, not your resume.” -Larry Smith
Larry talks about overcoming adversity and how important it is to rid yourself of the victim mentality.
“Our brain is nothing more than a hard-drive.” -Larry Smith
He shares how getting his day started right by using affirmations has been super impactful. (20:04)
Larry ends by sharing the advice he would give his 18 year-old self. (21:48).
“You can truly create who you are, get around the people that have what you want in life and never stop being a student.” -Larry Smith
It was certainly fun catching up with an old friend and hope that you are inspired after hearing his story.
Live Your Dreams,
Steve & Marybeth