In my work coaching entrepreneurs, I’ve learned that true wealth isn’t just about numbers on a balance sheet—it’s about aligning your inner purpose with how you show up in the world. In a recent conversation with Russell Schmidt, the founder of Informed Money Inc. and a seasoned financial planner, we explored why self‑awareness and integrity matter just as much as net worth. Russell’s story—shifting from college educator to wealth coach and surviving cancer three times—reminds us that building financial confidence starts with owning your inner 10.
Aligning Inner Purpose with Outer Success
Russell spent decades chasing traditional markers of success. As a dean at Sheridan College and later an advisor, he focused on titles, status and money.
Eventually, he realized that true integrity is about matching your outer world to your inner values, not just climbing the career ladder.
Working with the Strategic Coach program helped him articulate his personal mission and connect it to his professional work. “When your actions reflect what you really believe, that’s when life feels whole,” he told me.
Journaling: A Tool for Resilience and Gratitude
One of the most powerful practices Russell shared is daily journaling. During his battles with cancer, journaling gave him a safe outlet to process fear and anger.
Over time, it evolved into a disciplined ritual that cultivates gratitude and positivity. “Journaling isn’t just writing down what happened; it’s a conversation with yourself. It helps you notice patterns, celebrate wins and let go of negativity,” he said.
For entrepreneurs who feel overwhelmed, taking five minutes each morning to reflect can shift your mindset from reactionary to intentional.
Innovative Tools for Financial Clarity
Russell’s years in financial planning taught him that many clients focus on gross revenue and ignore what really matters: net profit.
To combat this, he developed a Profit Tracker that highlights net performance and progress toward personal goals. By measuring what truly moves the needle, clients gain confidence and stay engaged even during market volatility. “It’s not about beating the market—it’s about understanding where your money is working and where it isn’t,” Russell explained.
Integrating Self‑Awareness with Wealth Building
Our discussion underscored that financial strategies and personal growth are deeply connected.
Russell believes that aligning inner purpose with outward actions leads to more balanced, fulfilling wealth creation. When you understand your motivations, you make better decisions about spending, investing and giving.
Tools like journaling and the Profit Tracker aren’t just tactical; they help you stay true to your values when markets fluctuate and life throws curveballs.
Key Takeaways from My Conversation with Russell Schmidt
- Integrity means alignment. Wealth feels meaningful when your financial choices reflect your core values and purpose.
- Journaling builds resilience. A simple daily practice can transform how you process challenges and cultivate gratitude.
- Focus on what matters. Tracking net profit rather than just gross income keeps your eyes on real progress and prevents vanity metrics from derailing you.
- Personal growth fuels financial growth. The most successful entrepreneurs invest in their mindset as deliberately as they invest in their businesses.
- Connect with mentors and tools. Programs like Strategic Coach, resources like the Profit Tracker, and supportive communities provide structure and accountability for your growth journey.
Resources & Next Steps
If Russell’s journey resonates with you, explore his work at Informed Money and check out the free MoneySweet app through Visual Wealth to simplify your finances.
To dive deeper into aligning purpose with wealth, download my free guide on maximizing success by understanding how you function and explore our webinars on the Infinite Banking Concept. Remember—building wealth starts from the inside out. Own your inner 10 and let that clarity guide every financial decision you make.
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