Business and Mindset: Ahoy Wealth Tattoo Pirates Hoisting the Flag of Financial Freedom Ryan Roi EP 276

Ahoy Wealth! Tattoo Pirates Hoisting the Flag of Financial Freedom | Ryan Roi | EP 276

However, Jake has brought on Ryan Roi to shed light on the transformative power of coaching and sound money management practices. This interview unveils crucial insights into why being financially savvy is a game-changer for tattoo artists and how coaching can be the catalyst for this transformation.

Today we’ll be going over some strategies for saving and how you can make money management easy by taking the management part out of your hands completely.

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Interview by By Jake Meeks —

Writing By Daniel Pushcarich —

Topics: Finance, Pirate Lifestyle, Financial Freedom, Mindset, Money Mindset, Ten X, 10x, Robo-advisor, tattoo artist

“You’re avoiding having the breakdown, which leads to the breakthrough you really want to have. But you have to have the breakdown first, you have to make the mistake.”

— Ryan Roi

Ryan Roi (@ryanroitattoo) has been a tattoo artist and entrepreneur for over a decade. As a financial coach, he helps tattooers build systems, set goals and cultivate a healthy mindset, so they have more time, energy, and money, for the rest of their life.

He is the founder of The Artful Dollar, a tattooer and arts/creative entrepreneur focused finance and mindset coaching service which has helped hundreds of clients out of their pirate lifestyle and into a more financially literate, savvy, stable world and gives them freedom to live their life and breathe more easily.

Ryan Roi is based in Brooklyn, NY and owns Lowdown Tattoo.

Please enjoy!

INTERVIEW LINKS, MENTIONS, AND SHOW NOTES BELOW…

SELECTED LINKS FROM THE EPISODE

Connect with Ryan Roi:

SHOW NOTES

[00:00] Intro
[02:11] A Little Bit About Ryan
[04:38] The Benefits Of Group Vs 1-on-1 Coaching
[07:21] Going From Dollar Dumb To Financially Flourishing
[11:20] The Importance Of Understanding Your Clientele
[14:07] Take The Management Out Of Your Hands
[19:10] Adding The Right Friction To Your Banking System
[22:36] Saving In Small Chunks For Big Returns
[23:28] The Emotional Side of Money
[27:50] Take The Management Out Of Your Hands (Part 2)
[36:35] A Quick Story; Jake's Journey Into Investing
[42:39] Creating Passive Income Is About Solving A Problem
[45:03] The Mindset Shift From Making Money To Saving Income
[48:44] Focusing On Value over Price
[50:32] Focusing On The 10X Mindset
[53:19] Different Kinds of Goals Require Different Levels Of Thinking
[56:41] Commitment, Courage, Capability, and Confidence
[59:39] Revealing The Blindspot in Your Thinking Through Coaching
[1:01:44] Is that Your Real Name? How to Work With Ryan Roi!
[1:06:10] Outro

Fixing the Holes in your Bucket, and Taking Money Management Out of Your hands

Mindset Shift:

Most times a mindset shift is required when transitioning from a state of financial instability to one of savings and security. For tattoo artists unfamiliar with consistent savings, the transition from a cash-only mindset to comprehensive financial planning can be daunting. A significant percentage of tattooers have never saved consistently in their life before, maybe you’re one of them?

The hurdle lies not only in understanding financial instruments like IRAs or HYS Accounts but also in developing sustainable saving habits. This highlights the mental freedom that accompanies financial preparedness, enabling artists and tattooers to focus on seizing opportunities rather than constantly worrying about financial constraints.

Sweeping Money; A Practical Strategy, and adding friction:

I’d like to offer a tip for artists to make saving a seamless habit. Sweeping money into a separate “invisible” or out-of-sight online savings account called an HYS (High-Yield Savings). This detaches your money from your regular bank, coupled with making it challenging to withdraw, forms a disciplined approach. This tactic discourages impulsive spending and promotes a habit of accumulating savings.

It’s a simple way to allocate a small amount of money weekly, bi-weekly, or monthly out of your main account and into the HYS without having to really think much about it. Maybe $50 to 100 to start, something that you won’t really notice. It also adds an amount of friction because the money goes into an online account that isn’t directly visible or tied to your general spending account. This is where you add friction and make it difficult to withdraw or use the money because it takes multiple days for the money to come back into your main checking making it usable again. It also sits in that account and accrues interest the longer it stays there so you passively increase your funds making money on your savings.

This approach promotes responsible financial behavior, preventing impulsive spending while allowing for strategic fund allocation. Setting up a financial structure with the right amount of friction encourages individuals to design systems where accessing money is feasible but not excessively easy. The importance of friction and accessibility underscores the need to make money management easy in certain areas while creating obstacles where necessary. This thoughtful balance helps individuals stay in control of their finances without feeling overly restricted.

The Four Cs of Financial Growth:

Ryan shares his journey of not just focusing on growing his income but prioritizing savings, drawing inspiration from timeless financial principles outlined in books like "The Richest Man in Babylon" by George S. Clason. Jake and Ryan sheds light on the essential concepts of commitment, courage, capability, and confidence, which are integral to achieving financial growth and success.

Commitment:
- The importance of making a commitment to financial goals involves gaining clarity on what one wants to achieve and setting a firm intention. The commitment phase marks the beginning of the journey toward financial transformation. Without a clear commitment, individuals may struggle to overcome the obstacles that inevitably arise on the path to financial success.
Courage:
- The commitment phase is followed by a period of courage, during which individuals face challenges, uncertainties, and doubts. Ryan acknowledges the inherent difficulties in pursuing financial goals, especially when venturing into the unknown. Courage is the fuel that propels individuals forward, allowing them to navigate through obstacles and uncertainties.
Capability:
- As individuals navigate through the challenges and uncertainties, they develop new capabilities. These capabilities arise from the experiences and lessons learned during the courage phase. Jake draws parallels between this concept and his own journey of organizing a live event, the Paradise Tattoo Gathering. Through the process, he gained new capabilities and insights, enabling him to approach similar challenges with confidence in the future.
Confidence:
- Confidence, the final C, is a natural outcome of the commitment, courage, and capability phases. It is not something that precedes action but rather follows it. Confidence allows individuals to trust in their abilities, make informed decisions, and face future challenges with resilience. It is the culmination of a transformative journey toward financial empowerment.

By prioritizing savings, leveraging timeless financial principles, and embracing a mindset focused on continuous growth, individuals can navigate the complexities of financial success. The Four Cs—Commitment, Courage, Capability, and Confidence—serve as a roadmap for those seeking to transform their financial lives and achieve lasting prosperity.

MORE Ryan QUOTES FROM THIS INTERVIEW

[11:20] The Importance Of Understanding Your Clientele

“Something can be good advice, but it’s not the right advice for you. Doesn’t mean it’s bad advice, it’s just not right for YOU.”

— Ryan Roi

[14:07] Take The Management Out Of Your Hands

“If your income is irregular you need to find those regular aspects of your financial life, and automate that as much as possible, separate it. Building out that structure for it and then slowly increasing the automations so that less and less of it is in your hands, and more of it is being operated by the system.”

— Ryan Roi

[23:28] The Emotional Side of Money

“If money was a person how would you describe that person? What would they look like, what would they wear? How would they act? What kind of music would they be into? And then a lot of people describe someone, and I’m like do you want to hang out with them? And they always say…’fuck no!’, Cool! Why would that person want to hang out with you either?....”

— Ryan Roi

[27:50] Take The Management Out of Your Hands (Part 2)

“At the end of the day emotions are the most expensive thing when it comes to investing. Whether that’s making a bad move and losing money on an investment, or the opportunity cost of being afraid and not investing. What did that cost you over 10-30 years? How much could you have had?”

— Ryan Roi

[45:03] The Mindset Shift From Making Money To Saving Income

“I think a lot of people are focused on how do I make more money, it’s obsessive, and it’s not actually solving the problem. There’s holes in your bucket, so if you pour more money into that bucket you’re not going to have more money.”

— Ryan Roi

PEOPLE MENTIONED

Mike Summey
Davey Ramsey
Suze Orman
Morgan Housel
George S. Clason
Dan Sullivan
Peter Diamandes
Bob Proctor
- If your goal doesn’t scare you it’s not big enough

Mentoring & Art Excursion On Jake's Boat -

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Transcript for this video can be found (here). All transcripts can be found (Here)

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The Fireside Tattoo Network is home to the Fireside podcast, Fireside Technique video series and our Fireside Weekly blog.

The Fireside Tattoo podcast is hosted by veteran tattooer Jake Meeks, check out our episodes where we discuss, argue and wax philosophical, from tips for all levels of artists to trends in the tattoo world. Many guest artists have sat down for interviews and in-depth conversations and many more are planned…check back often!

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