The Happy Wealthy Show

Redefining Wealth: Beyond Money with Alex Peykoff

• Neal NEO Phalora

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In this enlightening episode of The Happy Wealthy Show, host Neo Phalora engages in a deep conversation with entrepreneur Alex Peykoff. Together, they redefine the concept of wealth, emphasizing that true richness goes beyond monetary value. They explore the emotional aspects of wealth, including emotional debt, fulfillment, and the importance of relationships. Alex shares his personal journey from financial success to genuine happiness, highlighting the necessity of self-worth and the impact we have on others. Tune in for a volcanic discussion that promises to inspire and provoke thought around what it truly means to live a wealthy life.
Show Notes:
In this enlightening episode of The Happy Wealthy Show, host Neo Phalora engages in a deep conversation with entrepreneur Alex Peykoff. They aim to redefine wealth, emphasizing that it encompasses much more than just financial success. Alex shares his insights on emotional debt, urging listeners to focus on creating a fulfilling life rather than merely chasing after money.

The discussion dives into various aspects of true wealth, including impact, relationships, and personal fulfillment. Alex challenges the common perception that wealth is solely defined by financial status, highlighting the privilege of experiencing abundance at any income level. He explains that doing inner work is crucial for cultivating a sense of abundance and that financial resources can amplify existing emotional challenges if inner work is neglected.

Alex introduces the Ikigai principle, which encourages listeners to find the intersection of their passions, skills, societal needs, and potential earnings.

As they wrap up, Alex emphasizes the importance of self-worth and understanding how we impact others' lives. Tune in for a transformative discussion that blends personal growth with practical insights on achieving a happy and wealthy life!

 IntroductionNeo introduces the theme of the episode: redefining wealth.

00:31 - Guest IntroductionIntroduction of Alex Peikoff and his background in business.

01:20 - Emotional Debt and WealthAlex discusses the concept of emotional debt and the importance of creating a fulfilling life.

04:14 - Defining True WealthExploration of various aspects of wealth, including impact and relationships.

07:18 - The Privilege of AbundanceThe significance of experiencing abundance at any income level and the need for inner work.

10:00 - Fear and Limiting BeliefsReframing fear and limiting beliefs as protective mechanisms.

15:40 - Internal vs. External MarketingThe importance of understanding oneself before reaching out to others.

19:20 - The Ikigai PrincipleIntroduction to the Ikigai concept, finding passion and purpose.

25:51 - Discovering Self-WorthEncouragement to seek feedback from loved ones to uncover personal value.

39:15 - Closing ThoughtsReflection on intrinsic value and the connection between happiness and wealth.

40:21 - How to Connect with AlexInformation on how listeners can engage with Alex for further insights.

41:16 - OutroNeo encourages listeners to reflect on their definitions of wealth and to subscribe to the show.

Resources Mentioned

Welcome to the happy Wealthy show. My name is neo. Neo Phalora. Just call me neo. How do you create a wealthy lifestyle? Well, it's much more than money. So let's redefine wealth as a matrix of impact, fulfillment, worthiness, success, relationships, and revenue. We'll explore the definable and digestible steps to get you there, and how we can live the highest quality of life along the way.

00:00:31:17 - 00:00:39:20
Speaker 1
I know that we can be happy and wealthy. And I'm here to show you how I.

00:00:39:20 - 00:00:56:13
Speaker 1
Welcome to the happy Wealthy show. I am Neal Phalora, your host. And today we have Alex Peykoff. And I met Alex in Lee. As I sometimes meet many great people by something that they say. And it you know the truth when you feel it in your body.

00:00:56:13 - 00:01:20:01
Speaker 1
And Alex is somebody who has made the money, who comes from Alina and a family who've done incredible things in business. And so he has the chops to talk about this. But he started talking about our emotional debt. He started talking about not chasing money, but creating the life that you really want. And we hear this message over and over that really money isn't the answer.

00:01:20:03 - 00:01:39:22
Speaker 1
And we want to redefine wealth on this podcast. Talk about it a deeper level. Get really deep with Alex today, who sometimes when we have people who are on the other side of doing these big things that can provide us the most insight in today's conversation, I promise you it's going to be volcanic. If you're able to reach some, receive something and the gift of Alex's knowledge.

00:01:40:02 - 00:01:47:14
Speaker 1
Alex, welcome to the show.

00:01:47:16 - 00:04:14:09
Speaker 1
Yeah, I really believe that we can. So maybe not everybody has met you before. Alex, I don't like to give big long intros. Give us 90s of, like, where you come from, what your story is.

00:04:14:11 - 00:04:35:07
Speaker 1
Wow. Wow. And you, as you said, going from the stress to. What was the word? Stress was. I like that, I like that, and this is, obviously the namesake of the show. I'm really super excited to talk to you today, because I do want to redefine wealth. And, you know, in my version of wealth, wealth is impact is fulfillment.

00:04:35:09 - 00:04:55:17
Speaker 1
It's in it's relationships and it's revenue. But I think the thing is, is that so many people define wealth. It's just the revenue. But what I say to people often is like, that's just the optics, right? It's the optics of people lean into, hey, I want to buy this thing so I can look rich, I can feel rich.

00:04:55:19 - 00:06:35:06
Speaker 1
I'm getting all the all the optics. And I know for some people we start to lose them immediately, Alex, because they're like, well, you just want to feel good. What? How is that wealthy? Can you dive a little deeper and like, explain to us, like, what do you mean by living truly wealthy?

00:07:18:20 - 00:07:37:17
Speaker 1
Yeah. It's so. That's so good. And there's definitely a lot of things to to rewind and listen to. Not the least of which is that I say to people, it's like wealth is earned, but it owns you. Nothing. The real privilege. People talk about the primary. The real privilege is to experience abundance. And that can be experienced at any level of revenue.

00:07:37:19 - 00:08:00:11
Speaker 1
And it also can be massively offset at any level of revenue as well. So people don't understand that they it's just leaning into a dollar figure doesn't create abundance in your life. Not even not even in the least bad. I also would love to talk about, like, this idea of, like, becoming like, you talk about this idea of of debt and emotional debt.

00:08:00:11 - 00:08:25:08
Speaker 1
And one of the things that I do in my masterminds is I talk about these two versions of debt, two stages of debt relief, and one of them, I call it, developing empowerment beyond trauma. And then the second part about that is driving and driving earnings by trust, by trusting. And, I'd love to hear more about what you have to say when it comes to this emotional debt, because there again, we're talking about these guys.

00:08:25:08 - 00:08:47:01
Speaker 1
Because just because you get money doesn't mean that your life suddenly becomes absolved of any hardships. And I love what Alex said there. I hope you heard that. Is that having more money isn't the root of all evil. What it does is that when you when you don't do the work and you try to put money ahead of the work, it will absolutely enhance your weaknesses, your challenge, your problems.

00:08:47:01 - 00:11:38:21
Speaker 1
It'll give you, unfair focus on all those things and saying, look, you tried to solve your problems by gaming the system. And guess what? You can't do that.

00:11:38:23 - 00:12:00:00
Speaker 1
Yes. And this is why we vibrate similarly. And I'll just say this like, hot take. But once upon a time, I ran a business within an 80,000 person company. It was a custom business. We won't go into all that here. But that is to say, I had a lot of opportunity to be at C-suite level and boardrooms.

00:12:00:02 - 00:12:15:16
Speaker 1
This day has got to be my witness. We would always start out with, like, we're going to make this decision logically, we're going to do this rubrik we're going to do the Swot analysis. But then, Alex, three fourths of every fucking meeting was, how's the customer going to feel? How's the market going to feel? Did you know that you can't solve with somebody and even keel?

00:12:15:16 - 00:12:39:08
Speaker 1
You need to either get them in trouble or growth mode. And there was always this rejection of feeling. But yet we know in our world that people buy on feeling, they justify have logic. And that I have said to other people I'm like, well, if you think a lot, all life is all logic based, tell me when you reach your goal how logic is going to help you experience your your, kitty, when this is what happens.

00:12:39:08 - 00:13:03:09
Speaker 1
I know that you know this because you run in those circles with people who have extreme wealth. But I have friends who do these payouts, these cash out, and they tell me half the time it's a grief or a, it's a, it's a mindset or a grief meeting because they've done something for fucking 25 years. And then they woke up one day and they sacrifice their worth of the dime, their time, their mental health or physical health, their relationships.

00:13:03:15 - 00:14:14:12
Speaker 1
And they have no identification, no practice of being happiness. And so now what do they do there? Tom Brady, you can't go. You can't be in the field in one another. So boring. You don't know who you are.

00:14:14:14 - 00:15:18:13
Speaker 1
Yeah.

00:15:18:14 - 00:15:40:01
Speaker 1
Beautiful. Wonderful. You know, you talk about this idea in my own framework. I tell people that we start down in stock, fear, scarcity, and we get to hustle. And in our society, we call that successful, and I call bullshit. That's not successful. It's getting to alignment and then finding action, getting to alignment and finding action. And somewhere in there you'll start to develop your intuition.

00:15:40:01 - 00:16:00:22
Speaker 1
But people leave out the alignment piece. It's just grind yourself into a pulp. And that's not that's not really a success. And you get to authenticity. And for me, that is that is absolute, absolute version of wealth. And I love the idea of being, I think you said purposely, purposeful prosperity. That is such a cool, cool lingo.

00:16:01:03 - 00:16:21:04
Speaker 1
But I want to play a little devil's advocate because I know some people, if they look you up right now, they look you up and they're like, well, this is the biggest model for, modeling agency in the world. This guy has money. It's easy for him to say. It's easy for him to talk about happiness and wealth because he has the ability and access to things.

00:16:21:06 - 00:19:20:12
Speaker 1
And I know you have an answer for this, because probably some people have said that to you. But what's the real scoop here when people say that to you?

00:19:20:14 - 00:19:46:01
Speaker 1
Yeah. Yeah. That's a little bit of a tough love moment for everybody here. But we're okay leaning into those here on the podcast. And really what we're saying, guys, at the end of the day, we need to drop the illusion that that money can buy back time. It can buy back relationships. It can buy back heartache, it can buy back, the fact that you haven't taken care of your health or that you are ill and it can't do those things, it it really is limited, really.

00:19:46:03 - 00:20:03:20
Speaker 1
You know, it's like what I tell people about systems all the time. Alex. Systems only work if you do. And I really believe that fundamentally about wealth becomes money becomes wealth. When you work and you've done the work right and you do the work constantly, then money can work for you. But money doesn't work for you if you don't do the work.

00:20:03:23 - 00:20:22:06
Speaker 1
And that's the thing that people have confused here, is that they're looking for money to be the panacea, or the savior in this case, for all the things that that they have going on in their life, the heartaches, the pain, the things that that no amount of money sure, you can buy supposedly you can buy a more time with your therapist.

00:20:22:11 - 00:21:46:13
Speaker 1
But guess what? Going to your therapist if you don't do the work, even if they charge $1,000 an hour or is going to fucking do anything.

00:21:46:15 - 00:22:08:07
Speaker 1
Yeah. You know, this is such a big, big topic with entrepreneurs, with business people. People just in their life. It's like, how do we really, address fear? And it does feel very real. And I think the reason that feels real to a lot of people is they don't understand that fear is as a biochemical emotion. But the history, the story starts in our head and the history gets written in our body.

00:22:08:07 - 00:22:27:08
Speaker 1
When we store that those emotions, those things that happen to us over time, and then we start to believe every thought and feeling that we think. But, you know, one of the things that I did is a flip is that I started to understanding that limiting beliefs aren't really limiting the protecting. And I started asking fear, what do you want me to know?

00:22:27:09 - 00:22:53:16
Speaker 1
Why are you here? What are you trying to protect me from? And as I started to develop a relationship, instead of just doing the traditional alpha male like for fear playing small with canceled just for it, which actually doesn't work, is I want to bring in these parts of me that are that are valid parts of me. If I have fear, it's a valid part of me, but I address it, have a different relationship with it, and then I jump off a cliff with it, as opposed to just leaving at the doorstep.

00:22:53:16 - 00:23:08:03
Speaker 1
Because anything that you just try to leave, it's like a child waiting on your doorstep. They're just going to be waiting when you get back home. And you, you really know these things in life. I just did a post about this today on Facebook. They don't ever resolve or people say, oh, I left that in the past. I'm over that.

00:23:08:05 - 00:25:51:20
Speaker 1
I'm not saying you need to be wound, you just need to learn how to. You need to learn how to have a different relationship with it. It doesn't really go away and it will keep coming back to teach you something new. And every season of life, that's the truth.

00:25:51:22 - 00:26:14:23
Speaker 1
Being who or being is is everything. And that's why this is. This gets complicated or weird or feels slimy is because we focus on. We focus on trying to get something rather than who were being. And it it is that painfully simple. It is that painfully simple to say, you know what? This is exactly what I do in my own life is focusing my attention and intention.

00:26:15:02 - 00:26:30:18
Speaker 1
What if I know what my intention is? It can be as simple as writing 3 to 5 words down right that you want to embody in a meeting. I bought my house is that way. I bought my cars that way. I found my next jobs that way. I'm not perfect. I've not always done this. I always live in that.

00:26:30:22 - 00:26:51:05
Speaker 1
But you're exactly right. It's like is like, because why is do I know this works? And I'll just give I'll flip the whole equation for everybody because that's exactly what marketing is. Marketing is giving you the experience of who you going to be when you purchase a product, have a service, take a vacation. So they already know that this works.

00:26:51:09 - 00:27:12:09
Speaker 1
So why would we use what we know that works in all our brains and flip that equation and put ourselves ahead of the marketing? I tell people all the time, like who I coaching small businesses meetings. I'm like, your internal marketing needs to be stronger than your external marketing. That's that's it, you know, and when you are that grounded in your own internal marketing, it all works.

00:27:12:11 - 00:28:57:19
Speaker 1
It works so much better. You can talk to your customers, you can enroll people in a vision because your internal marketing is working.

00:28:59:08 - 00:29:18:09
Speaker 1
Yeah, absolutely. This reminds me of that principle of ikigai. Right? It's like, do what you love. What are you good at? What the world needs. And then what can you be paid for. It is finding that intersection of all those things. Because if you know, if you don't love what you do is your, your vocation will never turn into a vacation.

00:29:18:11 - 00:29:36:20
Speaker 1
And that's where most people are. And that's why 9 to 5 mentality is still so pervasive, even in the entrepreneur community. I used to live that as well. Dude. I left left the multiple six figure job in the motel six figure bonus and the golden handcuffs to be my own boss. And I'm like, I had so much. I have the worst fucking boss in the world.

00:29:36:21 - 00:29:56:08
Speaker 1
I've never done enough. I can't take vacation. I'm not. I never get rewarded for anything I do accomplish. And then whenever I do accomplish, it's gone in like 30s. It seems to make no difference. And we we need to make that move. You need to make that move to doing what you are for what? I'm even doing that presently in my business.

00:29:56:08 - 00:30:30:09
Speaker 1
I'm loving this work. I'm giving this talk in national sales and I'm writing it, and I've had to start over four times. You know why? Because I'm leaning into let me give let me teach what I think looks good. And I need to teach this framework. And finally, today I made a post and over some of the things and and for me, I had a lot of respondents don't care about the number, but I could tell people really felt it because I was leaning into this idea of growing big, of living what I what I know I'm here to do and how I need to serve, and not worrying about the fucking optics anymore.

00:30:30:13 - 00:31:08:22
Speaker 1
And that will create more revenue for me in my life than than being a shyster, a charlatan, living in half truth, right? Trying to deal with the system all the time.

00:32:31:08 - 00:33:04:20
Speaker 1
Yeah.

00:33:04:21 - 00:33:20:00
Speaker 1
No. You're good. No, you didn't cut me off. And and and it's it's it's absolutely that. And if you're listening to this podcast and you're like, you know what? I don't know what I love. I don't know what I, what I, what I want, what I, what I do like I'm stuck in a job that pays me enough.

00:33:20:00 - 00:33:39:18
Speaker 1
I tell clients all the time, the most debt, one most dangerous salary position is between 80 and $150,000 a year. And if you bought yourself into a life, right, where you have some things, you have some nice things. Respectable income. I'm not disparaging it at any. So any way. But you don't. You can't transition often. Those people can't transition into what?

00:33:39:18 - 00:33:58:16
Speaker 1
Their real purpose of their life. But what I would say to people is, is that find the people that are closest to you, even if they're not, if they're your customers, great. Or family members, people that you cherish, right? People who cherish you and ask them, why do you love me? Why am I great? Why? Why do you continue to have a relationship with me?

00:33:58:16 - 00:34:15:10
Speaker 1
Why do you know? Why have we been friends all these years? You start to discover outside of your own inner critic like, wow, this is how I was showing up for people. This is what people say about me. This is how people feel about me. This is how people are thinking about me. And I have no awareness because I'll just tell you this.

00:34:15:10 - 00:34:42:13
Speaker 1
I wish you got me fired up. But I was in that business development job, I didn't care, I was good at sales. I didn't care about that job. What I cared about is changing the CEO's life. Who has a toxic work environment? Talking to a guy in an airport, crying with a lady on an airplane who invited me back to meet with her son, riding around in a taxicab with a Uganda guy for two hours, and him, the seven foot guy, picking me up like a ragdoll and hugging me and saying, thank you for being in my life right now.

00:34:42:15 - 00:35:07:21
Speaker 1
Those are the things that really, really fired me up and really let me know that I'm here to make a difference. And I think so many people forget that you will never feel wealth until you understand why you matter, and you understand how you matter and other people's lives. And everybody's have this moment in life where somebody said 5 to 10 words and it has stayed with you the rest of your life.

00:35:08:00 - 00:37:53:04
Speaker 1
So if you don't think that you have a Schindler's List of people out there who are fucking waiting for you to show up, they are because other people have changed your life in that way as well.

00:37:53:06 - 00:38:15:09
Speaker 1
Yeah. Yeah. And maybe that's a good place to. To end the conversation here as we wrap up our time. And what I really appreciate you about, Alex, is, like, if you guys are not watching the video, for those who are listening right now, is that this man is very overwhelmed with emotion of the moment because he gets the precious, like we don't understand how essential our existence is here.

00:38:15:13 - 00:39:04:17
Speaker 1
It's very essential. Self-worth cannot be created or destroyed. It is completely inherent. And Alex, you just you were you typify that. As we bring these things to the close, I'd like to ask you the the question that I like to ask most of my listeners and most of my guests, rather, when we end the show up, is like, if you could go back, you know, to 17 year old Alex and and you had about 90s to tell him something, what would you tell him?

00:39:15:08 - 00:39:36:13
Speaker 1
That's beautiful, brother, that's beautiful. The storm happens to us, and unfortunately, then we become the storm. So, I know you're doing a lot of things. You're getting your message out there, brother, I, I reverberated, that's why I dislike was in a non in just a purely in a contributing fashion. I wanted to amplify you right. Not asking for anything else in return.

00:39:36:18 - 00:40:21:08
Speaker 1
And I know that you are really a giver. You're getting your message out there. If somebody wants to know more about you, maybe somebody wants you to come in and speak at one of their events. How do they get in touch with you if they want to know more?

00:40:21:09 - 00:40:35:10
Speaker 1
Well said brother. Well, sad. Well, thank you, Alex, for being on the show and for all of you that are listening. Remember that the best part of being wealthy is being happy.

00:40:50:05 - 00:40:55:07
Speaker 1
I.

00:40:55:09 - 00:41:16:07
Speaker 1
Thank you for listening to The Happy Wealthy Show. If you've enjoyed this podcast, please subscribe and leave us a review. It helps us reach more people, and through a little bit of your generosity, we can help those impact driven, heart centric changemakers out there like yourself. I.