Most people work their entire lives chasing wealth—only to realize too late that money alone doesn’t bring happiness or security. They’re financially busy but emotionally broke, unsure how to align their money with the life they actually want.
Without clarity and purpose, wealth becomes another burden. Families drift apart, burnout sets in, and people reach their “Freedom Day” only to ask, “Now what?” Many never discover that true financial success isn’t just about the balance sheet—it’s about building a rich life as well as a rich bank account.
In this episode, Jeff Kikel sits down with Dr. Nicholas E. Michels, wealth manager and author of Rich by Choice. Nick shares his emotional journey from childhood financial hardship to helping others live intentionally and confidently with money. He breaks down how to create a personal wealth plan centered on purpose, faith, and family—and why understanding your “why” is the secret to lasting happiness and freedom.
Key Takeaways:
• How a childhood experience of financial loss shaped Dr. Michels’ mission to help others.
• Why wealth management should start with your why, not your portfolio.
• The six pillars of his Elite Wealth Management Process—from investment consulting to impact giving.
• How intentional family activities can create lasting memories and connection.
• The power of the “rocking chair test” for designing your dream life.
• How to reframe your money mindset to become rich in life, not just rich in cash.
• Why AI is a powerful assistant—but not a replacement—for expert advice.
• How to use financial planning as a foundation for joy, generosity, and freedom.
• Why true happiness comes from building toward goals, not just achieving them.
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About the Guest:
Dr. Nicholas E. Michels is Amazon’s bestselling author, public speaker, and elite wealth strategist with almost two decades of experience guiding thousands toward financial happiness. As founder of Michels Family Financial and creator of the “Rich by Choice” movement, Dr. Michels combines his doctorate in business, advanced psychology training, and financial expertise (CFP® - CERTIFIED FINANCIAL PLANNER, CPWA® - CERTIFIED PRIVATE WEALTH ADVISOR Designation, NSSA® - NATIONAL SOCIAL SECURITY ADVISOR) to help people align their money with what matters most—purpose, joy, and legacy. Having walked the path from hardship to success, he now dedicates his life to equipping others to build the life they dream of—on their terms, by choice.
Links:
https://richbychoicebook.com/
Fast Five Questions:
1. If you woke up and your business was gone, you have $500, a laptop, a place to live, and food, what would you do first? “My wife and I have a nonprofit where we teach high school kids about money and life. I tell them I can be a millionaire in any industry. I’d start by reading the top 10 books in that space, then interview people already successful in it. Learn from them—success leaves clues.”
2. What is the biggest mistake that you have made in business? “Grinding too hard early on instead of acting like I was already running a $50 million company. I wish I had been more strategic earlier.”
3. What is a book that you would recommend? “The Bible—especially Proverbs and Ecclesiastes. They transform how you see business, life, and success.”
4. What is a tool that you use every day that you would recommend? “AI. Used responsibly, it’s a game-changer for efficiency and creativity.”
5. What is your definition of freedom? “Doing more of what you love with the people you love—when you want, where you want.”
About Jeff:
Jeff spent the early part of his career working for others. Jeff had started 5 businesses that failed before he had his first success. Since that time he has learned the principles of a successful business and has been able to build and grow multiple seven-figure businesses. Jeff lives in the Austin area and is actively working in his community and supporting the growth of small businesses. He is a board member of the Incubator.Edu program at Vista Ridge High School and is on the board of directors of the Leander Educational Excellence Foundation
Connect with the Freedom Nation podcast at https://freedom-nation-podcast.captivate.fm/
Connect with Jeff:
Instagram: https://www.instagram.com/freedomnationpodcast/
Twitter: https://twitter.com/JeffKikel
LinkedIn: https://www.linkedin.com/in/jeffkikel/
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