In Part 2 (Part 1: Recovering from a Series of Unfortunate Financial Events – PB116) of our Financial Ls sagas, Rich shares the trials and tribulation learned from losing his wallet and all the unattended consequences that resulted.

Rich was recently on vacation in an unnamed city almost as mysterious as Fyre Island. In any case, a fun-filled bike ride, Rich realized he lost his wallet. After hours of searching, he took a couple of Lyft rides around town to try and find a Western Union where he was set to receive a money gram of cash that a friend generously offered to send. After unsuccessfully hitting up several convenience and liquor stores in sketchy neighborhoods that were filled with even more questionably sketchy characters, Rich couldn’t find a functioning Western Union in the entire city. In this episode, you’ll get the lessons Rich learned and why sometimes you have to take the short-term L in order to get the long-term win.

Show Highlights:

  • The epic search for the missing wallet
  • National banks aren’t in every major US city
  • Trying to use Money Grams and get cash when the Western Union and other options are lacking
  • The ‘red flag’ landmarks of a neighborhood you might only want to hang out in if you have a friend that can show you around after hours
  • Familiar hoods vs. new hoods
  • Always think about your exit strategy
  • How to access money from your ATM without your debit card
  • The benefits of the Tile App
  • Why reoccurring subscriptions can still find a way to bill you even if you lose or cancel your credit card
  • Learning more about yourself and your business from consultant work

Key Takeaway: Take the L, learn from it, and apply those lessons to your future self.

Mentioned on This Episode: Escape from Fyre Festival Island ft. Kelly Hultgren – PB115

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Announcements

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