1
00:00:00,080 --> 00:00:02,840
Speaker 1: I believe home ownership and real estate is important today's

2
00:00:02,880 --> 00:00:05,200
Speaker 1: day in time. Absolutely, I think that that is one

3
00:00:05,200 --> 00:00:08,560
Speaker 1: of the key ingredients for really building wealth. Because we

4
00:00:08,600 --> 00:00:11,120
Speaker 1: all know this. McDonald's doesn't make their money because of burgers,

5
00:00:11,200 --> 00:00:12,080
Speaker 1: is because of real estate.

6
00:00:12,200 --> 00:00:16,079
Speaker 2: Absolutely. Hello everybody, I'm PDJ Exent. I want to welcome

7
00:00:16,120 --> 00:00:19,040
Speaker 2: you the next chapter, and boy, have we got a

8
00:00:19,120 --> 00:00:22,320
Speaker 2: session for you today. Today's guests is one of the

9
00:00:22,320 --> 00:00:27,440
Speaker 2: most trusted voices in the world of personal finance and empowerment.

10
00:00:27,480 --> 00:00:32,199
Speaker 2: He's a best selling author, renowned keynote speaker, CEO, and

11
00:00:32,280 --> 00:00:38,360
Speaker 2: a nationally recognized leader. Anthony O'Neill brings clarity, strategy, and

12
00:00:38,520 --> 00:00:43,159
Speaker 2: inspiration to anyone who's ready to take control of their money,

13
00:00:43,520 --> 00:00:47,960
Speaker 2: equipping everyday people to break free from debt by building

14
00:00:48,120 --> 00:00:52,280
Speaker 2: lasting wealth and living life on their own term. Get

15
00:00:52,360 --> 00:00:56,320
Speaker 2: ready for a conversation packed with tools and wisdom that

16
00:00:56,400 --> 00:01:05,720
Speaker 2: can change your financial life and your entire mind. Chapter

17
00:01:05,840 --> 00:01:11,120
Speaker 2: one Lack of Information. I'm excited to have you. I've

18
00:01:11,480 --> 00:01:14,000
Speaker 2: had a bit of a roller coaster ride in my

19
00:01:14,080 --> 00:01:17,840
Speaker 2: life as it relates to finances. I started out working

20
00:01:17,959 --> 00:01:22,000
Speaker 2: for a large company in West Virginia many many years

21
00:01:22,040 --> 00:01:25,720
Speaker 2: ago that company went out of business, and I found

22
00:01:25,760 --> 00:01:29,360
Speaker 2: myself without a job, ran out unemployment, ended up on

23
00:01:29,480 --> 00:01:35,280
Speaker 2: food stamps, raised my first my second daughter off a wick.

24
00:01:37,040 --> 00:01:39,640
Speaker 2: Know what it is not to have much of anything?

25
00:01:41,040 --> 00:01:45,479
Speaker 2: Minister preached for church. Take me three hundred dollars a month.

26
00:01:45,560 --> 00:01:48,200
Speaker 2: I had a wife and two kids. Three hundred dollars

27
00:01:48,200 --> 00:01:51,240
Speaker 2: a month to go very far. I found that out.

28
00:01:51,680 --> 00:01:53,760
Speaker 2: We rolled a lot of quarters, we sold a lot

29
00:01:53,800 --> 00:01:58,000
Speaker 2: of pop bottles, and we ate a lot of blogey. Yes, okay,

30
00:01:58,360 --> 00:02:02,480
Speaker 2: So I understand you have a similar story. Would you

31
00:02:02,520 --> 00:02:05,400
Speaker 2: mind sharing with us where you started, where you came

32
00:02:05,400 --> 00:02:08,040
Speaker 2: from the time you spend in the car, Yes, sir,

33
00:02:08,240 --> 00:02:10,120
Speaker 2: tell me about that, and how did you feel.

34
00:02:10,560 --> 00:02:13,359
Speaker 1: I think to start off the story, sir, it's important

35
00:02:13,360 --> 00:02:16,640
Speaker 1: to explain that I come from a unique situation. So

36
00:02:16,720 --> 00:02:20,000
Speaker 1: I have four loving parents. Right, So I have two

37
00:02:20,360 --> 00:02:23,800
Speaker 1: biological parents, and the correct term is step parents, but

38
00:02:23,880 --> 00:02:26,160
Speaker 1: I don't like that term because God blessed me with

39
00:02:26,200 --> 00:02:29,880
Speaker 1: two other amazing parents. So my biological mom and other

40
00:02:30,000 --> 00:02:33,520
Speaker 1: father lived in San Diego, California. My biological father and

41
00:02:33,600 --> 00:02:36,720
Speaker 1: my other mother lived in Fever in North Carolina. My

42
00:02:36,880 --> 00:02:40,480
Speaker 1: fathers did army and the Marines, and so I'm still

43
00:02:40,480 --> 00:02:43,640
Speaker 1: in therapy for that today because that's just two different

44
00:02:44,080 --> 00:02:47,960
Speaker 1: you know, coaches Army and Marine Hurrah and hello. No,

45
00:02:49,080 --> 00:02:54,640
Speaker 1: it's just it's just a little interesting. But I moved

46
00:02:54,720 --> 00:02:58,120
Speaker 1: with my mom and my other father to San Diego, California.

47
00:02:58,480 --> 00:03:01,440
Speaker 1: My father was stationed at camping on in Oceanside, California,

48
00:03:02,120 --> 00:03:04,080
Speaker 1: and bishop one of the very first things that I

49
00:03:04,160 --> 00:03:06,880
Speaker 1: remember growing up that I just realized at the age

50
00:03:06,880 --> 00:03:09,919
Speaker 1: of twenty five and now I'm forty one, it's that

51
00:03:10,320 --> 00:03:13,680
Speaker 1: my mom used to cry around a table similar to this,

52
00:03:13,760 --> 00:03:16,840
Speaker 1: but much bigger. On that table were sheets of paper.

53
00:03:17,480 --> 00:03:19,480
Speaker 1: I didn't know what she was crying over when I

54
00:03:19,520 --> 00:03:23,799
Speaker 1: was a baby, but she was crying over bills. And

55
00:03:24,040 --> 00:03:27,040
Speaker 1: my very first job at fourteen, I had to get

56
00:03:27,040 --> 00:03:29,760
Speaker 1: a job to help us provide for things that I

57
00:03:29,760 --> 00:03:32,880
Speaker 1: may have desired. And so growing up I didn't really

58
00:03:32,880 --> 00:03:35,920
Speaker 1: get the education about finances because my parents couldn't teach

59
00:03:35,920 --> 00:03:38,960
Speaker 1: me what they didn't know. And so growing up I

60
00:03:39,000 --> 00:03:40,880
Speaker 1: knew how to tie, I knew how to get to

61
00:03:40,960 --> 00:03:42,560
Speaker 1: do that in the church, but they didn't teach me

62
00:03:42,560 --> 00:03:44,880
Speaker 1: what to do with the other ninety percent. So when

63
00:03:44,920 --> 00:03:48,360
Speaker 1: I graduated high school, if I'm just being honest with you, Bishop,

64
00:03:48,720 --> 00:03:51,040
Speaker 1: I said, Hey, I'm a grown man. I went out

65
00:03:51,080 --> 00:03:53,120
Speaker 1: there and got me a credit card. You give me

66
00:03:53,160 --> 00:03:55,680
Speaker 1: five hundred dollars back in the early two thousands, I'm

67
00:03:55,720 --> 00:03:58,560
Speaker 1: thinking I'm rich, right, And so I took that five

68
00:03:58,600 --> 00:04:00,880
Speaker 1: hundred dollars, maxed it out into a four hours on

69
00:04:00,960 --> 00:04:06,040
Speaker 1: a young lady, a red lobster, roses and the duty

70
00:04:06,080 --> 00:04:10,000
Speaker 1: and Burke's purse. Okay, and man, just when I got that,

71
00:04:10,080 --> 00:04:12,560
Speaker 1: And this is the thing that really is crucial for me, Bishop,

72
00:04:12,600 --> 00:04:16,679
Speaker 1: that thing is important for everyone to understand. I didn't

73
00:04:16,720 --> 00:04:19,320
Speaker 1: understand the vocabulary. No one ever taught me anything. So

74
00:04:19,400 --> 00:04:21,680
Speaker 1: when I spent five hundred dollars, my very first bill

75
00:04:21,720 --> 00:04:24,120
Speaker 1: was only fifty two dollars. So on my wait, I

76
00:04:24,160 --> 00:04:26,440
Speaker 1: could spend five hundred and only pay back fifty two.

77
00:04:27,160 --> 00:04:29,240
Speaker 1: So I just applied for so many more credit cards.

78
00:04:30,560 --> 00:04:32,640
Speaker 1: Ended up with about thirty thousand dollars in debt within

79
00:04:32,680 --> 00:04:36,279
Speaker 1: a matter of seven months. Wow, and I'm paying back

80
00:04:36,360 --> 00:04:39,520
Speaker 1: about two thousand dollars a month. Lost my job, could

81
00:04:39,520 --> 00:04:42,560
Speaker 1: not pay it back, got into an argument with my

82
00:04:42,600 --> 00:04:44,800
Speaker 1: other father, and I ended up being homeless off a

83
00:04:44,839 --> 00:04:48,600
Speaker 1: highway seventy six in Oceanside, California. My parents thought that

84
00:04:48,640 --> 00:04:50,479
Speaker 1: I was going to be living with a friend. But

85
00:04:50,560 --> 00:04:52,279
Speaker 1: the truth of the fact is that I was actually

86
00:04:52,320 --> 00:04:54,040
Speaker 1: sleeping in the back of my car in a Walmart

87
00:04:54,080 --> 00:04:59,240
Speaker 1: parking lot. Not because my parents were broke and couldn't

88
00:04:59,240 --> 00:05:01,760
Speaker 1: afford it, becau because of won, my ego, my pride,

89
00:05:02,160 --> 00:05:05,240
Speaker 1: and just a lack of information. And during that season

90
00:05:05,279 --> 00:05:07,120
Speaker 1: of me living in the back of my car, I

91
00:05:07,240 --> 00:05:09,159
Speaker 1: was a guy. I did it two times. I don't

92
00:05:09,160 --> 00:05:11,000
Speaker 1: want to exaggerate it. Two times. I was a guy

93
00:05:11,040 --> 00:05:14,000
Speaker 1: holding a sign saying can I have some money just

94
00:05:14,000 --> 00:05:16,080
Speaker 1: to get something to eat. I know what it feels

95
00:05:16,080 --> 00:05:18,360
Speaker 1: like to be racially profiled because they see an African

96
00:05:18,400 --> 00:05:21,599
Speaker 1: American young man asking for money. I heard people say

97
00:05:21,640 --> 00:05:23,560
Speaker 1: he's gonna get He's gonna use money to buy drugs.

98
00:05:23,600 --> 00:05:26,000
Speaker 1: Don't give them no money. And now was the time

99
00:05:26,000 --> 00:05:29,880
Speaker 1: I thought about committing suicide, all because of the poor

100
00:05:29,920 --> 00:05:32,080
Speaker 1: decisions that I made. But the poor decisions that I

101
00:05:32,120 --> 00:05:35,640
Speaker 1: made were just because of the lack of information that

102
00:05:35,760 --> 00:05:39,240
Speaker 1: I did not receive. And I remember telling God to say, God,

103
00:05:39,560 --> 00:05:41,480
Speaker 1: if you get me out of the backseat of this car,

104
00:05:41,600 --> 00:05:43,520
Speaker 1: I know I'm not gonna be perfect, but I guarantee

105
00:05:43,520 --> 00:05:46,600
Speaker 1: you I will not be here. And I remember going

106
00:05:46,640 --> 00:05:49,920
Speaker 1: home to my father my mother father in California, said hey,

107
00:05:50,800 --> 00:05:54,000
Speaker 1: I'm sorry for the poor decisions that I made, but

108
00:05:54,080 --> 00:05:56,919
Speaker 1: I want to get better. My dad looked at me

109
00:05:56,960 --> 00:05:59,880
Speaker 1: and said, I'm sorry for not giving you the proper education.

110
00:06:01,200 --> 00:06:03,000
Speaker 1: He came back home and he gave me a budget

111
00:06:03,000 --> 00:06:04,960
Speaker 1: for him and said, hey, we were horrible with money,

112
00:06:04,960 --> 00:06:06,840
Speaker 1: but we're going to help you get better with money.

113
00:06:07,240 --> 00:06:09,000
Speaker 2: You know. The thing that stands out to me is

114
00:06:09,040 --> 00:06:16,440
Speaker 2: that you drew a line between emotional intelligence and financial intelligence. Yes, sir,

115
00:06:17,880 --> 00:06:21,320
Speaker 2: one affects the other. That's not having money, not having

116
00:06:21,360 --> 00:06:25,080
Speaker 2: resources does something to you emotionally, whether you're a man

117
00:06:25,200 --> 00:06:28,800
Speaker 2: or woman, but particularly as a man, to not be

118
00:06:28,880 --> 00:06:32,480
Speaker 2: able to take care of yourself or your date. And

119
00:06:32,520 --> 00:06:35,560
Speaker 2: you've spent the money, You've spent the money. I had

120
00:06:35,680 --> 00:06:42,479
Speaker 2: read Lobster. It's good commercial But at the end of

121
00:06:42,520 --> 00:06:46,119
Speaker 2: all of that, there's a shame that had you stand

122
00:06:46,160 --> 00:06:49,040
Speaker 2: in the car. Yes, that has nothing to do with

123
00:06:49,080 --> 00:06:52,839
Speaker 2: the poverty of money, but the poverty of soul that

124
00:06:52,960 --> 00:06:57,120
Speaker 2: comes from making those bad choices even though you had nothing.

125
00:06:57,200 --> 00:07:00,279
Speaker 2: Really to be ashamed of because you couldn't know so

126
00:07:00,520 --> 00:07:04,479
Speaker 2: what no one taught you? How much do you think

127
00:07:04,920 --> 00:07:09,320
Speaker 2: our communities that we grow up in, reading's territories or

128
00:07:09,360 --> 00:07:13,080
Speaker 2: families have to do with what we think about money

129
00:07:13,200 --> 00:07:14,960
Speaker 2: mindsets versus assets.

130
00:07:15,520 --> 00:07:18,160
Speaker 1: Absolutely? I think everything starts with the mindset. When I

131
00:07:18,200 --> 00:07:21,400
Speaker 1: look at how when I was raised up in school,

132
00:07:21,440 --> 00:07:24,760
Speaker 1: Bishop school teaches you how to read, write, process information,

133
00:07:24,880 --> 00:07:27,280
Speaker 1: and add but they do not teach you what to

134
00:07:27,320 --> 00:07:30,880
Speaker 1: do with the finances. And so they're depositing all this

135
00:07:30,880 --> 00:07:33,040
Speaker 1: stuff into our minds. And here's what gets me is

136
00:07:33,040 --> 00:07:35,120
Speaker 1: that they're giving me all this information to go get

137
00:07:35,120 --> 00:07:37,880
Speaker 1: a job, to contribute to society. But what's the key

138
00:07:37,880 --> 00:07:39,920
Speaker 1: point of a job to get money? What's keep point

139
00:07:39,920 --> 00:07:42,840
Speaker 1: of money? To pay bills? So I think everything starts

140
00:07:42,840 --> 00:07:45,960
Speaker 1: with mindset. If we have the mindset, then we can

141
00:07:45,960 --> 00:07:48,400
Speaker 1: have financial stability, we can build wealth. But if we're

142
00:07:48,440 --> 00:07:51,200
Speaker 1: not training our minds on what to do, how to

143
00:07:51,280 --> 00:07:55,119
Speaker 1: think about money, how to understand money, how to invest money,

144
00:07:55,160 --> 00:07:58,400
Speaker 1: how to process money, how to use capital and debt

145
00:07:58,640 --> 00:08:01,440
Speaker 1: in a good ray rather than a negative way. If

146
00:08:01,440 --> 00:08:04,600
Speaker 1: we don't have that knowledge and that information, one thing

147
00:08:04,640 --> 00:08:07,440
Speaker 1: I've learned, we can all make money, but if we

148
00:08:07,480 --> 00:08:10,280
Speaker 1: don't have the right mindset, we can't multiply that money,

149
00:08:10,360 --> 00:08:11,120
Speaker 1: right right.

150
00:08:11,560 --> 00:08:14,560
Speaker 2: I think another part of our educational system that is

151
00:08:14,600 --> 00:08:17,600
Speaker 2: flawed is that they are getting you ready to have

152
00:08:17,640 --> 00:08:20,360
Speaker 2: a job. Yes, sir, but you're never going to be

153
00:08:20,440 --> 00:08:23,400
Speaker 2: wealthy off of job. Nobody hires you to make you rich.

154
00:08:23,480 --> 00:08:24,840
Speaker 2: They hire you to make them rich.

155
00:08:24,960 --> 00:08:25,200
Speaker 1: Fact.

156
00:08:25,360 --> 00:08:29,120
Speaker 2: Okay, so let's be clear about that. Yes, yeah. And

157
00:08:29,520 --> 00:08:31,880
Speaker 2: the other thing, they don't open up the possibility of

158
00:08:31,920 --> 00:08:34,959
Speaker 2: you being an entrepreneur, of you being a business owner,

159
00:08:35,000 --> 00:08:37,320
Speaker 2: of you being an investor of you. They don't open

160
00:08:37,400 --> 00:08:40,120
Speaker 2: up all the possibilities of you owning and the air

161
00:08:40,160 --> 00:08:44,360
Speaker 2: conditioning repair store or anything like that, and putting you

162
00:08:44,400 --> 00:08:48,720
Speaker 2: in a place where you understand what a form a

163
00:08:48,760 --> 00:08:51,959
Speaker 2: business forum looks like, what a spreadsheet looks like, what

164
00:08:53,000 --> 00:08:55,440
Speaker 2: a balance sheet looks like. Those are not the kinds

165
00:08:55,480 --> 00:08:59,320
Speaker 2: of things that we normally hear talked about in school

166
00:08:59,559 --> 00:09:01,480
Speaker 2: and the world. The worst part about it is if

167
00:09:01,520 --> 00:09:05,040
Speaker 2: we go far enough in school, school itself becomes a debt.

168
00:09:05,040 --> 00:09:08,120
Speaker 1: Oh, don't get me started, don't give me a side,

169
00:09:08,200 --> 00:09:10,640
Speaker 1: or that you know. I wrote the book around how

170
00:09:10,640 --> 00:09:13,960
Speaker 1: do we get our young people into a debt without

171
00:09:14,000 --> 00:09:16,480
Speaker 1: I mean into school without racking up so much that

172
00:09:16,600 --> 00:09:18,800
Speaker 1: the average college student's going to graduate with about one

173
00:09:18,840 --> 00:09:21,480
Speaker 1: hundred to one hundred and twenty thousand dollars in student

174
00:09:21,559 --> 00:09:24,040
Speaker 1: loan debt. But then when they get a job, the

175
00:09:24,200 --> 00:09:27,559
Speaker 1: average job is fifty five thousand. So they have all

176
00:09:27,600 --> 00:09:31,080
Speaker 1: this education, but they do not have one the income

177
00:09:31,280 --> 00:09:34,760
Speaker 1: nor the wisdom on how to use this degree the

178
00:09:34,800 --> 00:09:37,319
Speaker 1: correct way. I'm a current them a professor at a

179
00:09:37,320 --> 00:09:40,959
Speaker 1: school in Richmond, Virginia, and I teach consumer economics, and

180
00:09:41,040 --> 00:09:44,680
Speaker 1: one of my assignments for my students is that, Hey,

181
00:09:44,760 --> 00:09:47,720
Speaker 1: I want you to identify three major things. What's your career,

182
00:09:48,120 --> 00:09:51,400
Speaker 1: what state, and what is your margin? When I say

183
00:09:51,480 --> 00:09:53,439
Speaker 1: state and career, they get it. But when I use

184
00:09:53,480 --> 00:09:55,319
Speaker 1: the word margin, they're like, what what do you mean

185
00:09:55,360 --> 00:09:59,400
Speaker 1: by margin? I'm like, yeah, this has this conversation. They're

186
00:09:59,400 --> 00:10:01,400
Speaker 1: going to get a someone's going to offer you a job.

187
00:10:01,720 --> 00:10:03,840
Speaker 1: But if they offer you a job making let's say

188
00:10:03,920 --> 00:10:06,080
Speaker 1: ninety thousand dollars in New York, but the cost of

189
00:10:06,160 --> 00:10:09,360
Speaker 1: living in New York is ninety thousand, you have no margin.

190
00:10:09,960 --> 00:10:11,439
Speaker 1: So what I want you to do is I want

191
00:10:11,440 --> 00:10:14,080
Speaker 1: you to understand your biggest wealth building tool is going

192
00:10:14,160 --> 00:10:16,160
Speaker 1: to be margin. Because if you could take that margin

193
00:10:16,200 --> 00:10:17,920
Speaker 1: and then if you can invest it, if you can

194
00:10:17,960 --> 00:10:19,959
Speaker 1: start a business, if you can put in the stocks

195
00:10:19,960 --> 00:10:22,920
Speaker 1: and bonds, now you can grow wealth a little bit.

196
00:10:22,920 --> 00:10:25,280
Speaker 1: But if you don't understand the decision that you make

197
00:10:25,320 --> 00:10:27,680
Speaker 1: today to go to the right state to get the

198
00:10:27,760 --> 00:10:30,120
Speaker 1: right job, that's the foundation, but that's not the end.

199
00:10:30,440 --> 00:10:32,480
Speaker 1: That's the beginning for you, but that's not the end.

200
00:10:32,520 --> 00:10:33,360
Speaker 1: All See.

201
00:10:34,200 --> 00:10:37,280
Speaker 2: I'm so glad you said that because the problem with

202
00:10:37,440 --> 00:10:42,079
Speaker 2: national information it doesn't take into consideration and regional budgets

203
00:10:42,080 --> 00:10:46,120
Speaker 2: and overheads, and what works in New York doesn't necessarily

204
00:10:46,120 --> 00:10:48,600
Speaker 2: work in New Orleans, doesn't. That's what works in New

205
00:10:48,679 --> 00:10:51,480
Speaker 2: Orleans may not work in Jamaica, yes, sir. And so

206
00:10:51,520 --> 00:10:55,000
Speaker 2: you have to consider the region that you're in, the

207
00:10:55,040 --> 00:10:58,120
Speaker 2: cost of living for where you are, and what the

208
00:10:58,280 --> 00:11:02,080
Speaker 2: average medium income is in the area you are. So

209
00:11:02,120 --> 00:11:05,560
Speaker 2: if you don't know the AMI, you can't determine whether

210
00:11:05,600 --> 00:11:07,520
Speaker 2: you can live in this neighborhood. You might can live

211
00:11:07,559 --> 00:11:10,720
Speaker 2: in this city, but the AMI this neighborhood may not

212
00:11:11,000 --> 00:11:14,720
Speaker 2: allow you to be as luxurious as you would be

213
00:11:14,760 --> 00:11:17,439
Speaker 2: in that neighborhood. There are a lot of decisions to

214
00:11:17,600 --> 00:11:20,120
Speaker 2: be made before you open up your wallet. Yes, sir,

215
00:11:20,400 --> 00:11:22,360
Speaker 2: you know where do I want to live? What kind

216
00:11:22,360 --> 00:11:25,559
Speaker 2: of schools are in that area? What are the property taxes?

217
00:11:25,600 --> 00:11:27,800
Speaker 2: If I own a house, what is the upkeep on

218
00:11:27,840 --> 00:11:30,040
Speaker 2: the house, What is the utility bills on the house.

219
00:11:30,080 --> 00:11:32,240
Speaker 2: We don't take that into consideration. We just say I

220
00:11:32,360 --> 00:11:35,720
Speaker 2: like the house, I buy it, and then you've got

221
00:11:35,720 --> 00:11:39,600
Speaker 2: to pay the homeowners Association of seven hundred dollars. You

222
00:11:39,600 --> 00:11:43,680
Speaker 2: didn't plan on pad and the house burns gas like

223
00:11:43,760 --> 00:11:46,320
Speaker 2: it's on fire, like you're living in hell somewhere, and

224
00:11:46,640 --> 00:11:49,240
Speaker 2: you got all of these other things to consider. We

225
00:11:49,800 --> 00:11:55,480
Speaker 2: have to think with our minds about money from a

226
00:11:55,480 --> 00:11:59,360
Speaker 2: holistic three hundred and sixty degree angle in order to

227
00:11:59,440 --> 00:12:02,400
Speaker 2: decide to make good decision. I always say, you cannot

228
00:12:02,520 --> 00:12:06,560
Speaker 2: make great decisions with for information camp camp.

229
00:12:07,280 --> 00:12:09,800
Speaker 1: You cannot do that. And I always say, bishop me,

230
00:12:09,880 --> 00:12:12,319
Speaker 1: you talked about this earlier. My dad taught me something

231
00:12:12,360 --> 00:12:14,800
Speaker 1: when I was five years old. Made zero sense to

232
00:12:14,840 --> 00:12:17,520
Speaker 1: me until I was maybe thirty years old, but he said,

233
00:12:17,559 --> 00:12:22,960
Speaker 1: proper prior planning prevents poor performances. Yes, yes, proper prior planning.

234
00:12:23,000 --> 00:12:24,760
Speaker 1: I'm like Dad, proper prior planning, what do you mean

235
00:12:24,840 --> 00:12:28,319
Speaker 1: it prevents poorer performances. But when I got older, Bishop,

236
00:12:28,320 --> 00:12:30,920
Speaker 1: I look, I said, wait. I started making about i'll

237
00:12:30,960 --> 00:12:33,480
Speaker 1: say about six figures around that time, and I was

238
00:12:33,480 --> 00:12:37,800
Speaker 1: living in California. I said, wait a minute, if I properly,

239
00:12:37,800 --> 00:12:41,280
Speaker 1: priorly planned this six figures and if I leave California

240
00:12:41,320 --> 00:12:44,520
Speaker 1: and maybe go to North Carolina, right, I could do

241
00:12:44,559 --> 00:12:47,240
Speaker 1: more with my six figures and it will prevent me

242
00:12:47,280 --> 00:12:50,880
Speaker 1: from going broke. So I packed up everything in California.

243
00:12:50,960 --> 00:12:54,600
Speaker 1: I moved to Fedville, North Carolina. Now my six figures there.

244
00:12:54,640 --> 00:12:57,160
Speaker 1: When rent in California was twenty five hundred dollars from

245
00:12:57,160 --> 00:13:00,800
Speaker 1: one bedroom, I'm paying seven to fifty. Now I can

246
00:13:00,880 --> 00:13:04,320
Speaker 1: do more with my money. I was talking with some

247
00:13:04,360 --> 00:13:06,480
Speaker 1: friends and say, hey, man, Anthony, you're wealthy. Now, why

248
00:13:06,480 --> 00:13:08,240
Speaker 1: are you not going back to California. I said, because

249
00:13:08,240 --> 00:13:09,920
Speaker 1: I'm still single and I still got a lot of money.

250
00:13:09,920 --> 00:13:14,080
Speaker 1: I want to keep it. So the lifestyle that I

251
00:13:14,160 --> 00:13:18,680
Speaker 1: desire it's going to go in half in California. So

252
00:13:18,840 --> 00:13:21,000
Speaker 1: right now, at forty one, my goal is, let me

253
00:13:21,080 --> 00:13:23,480
Speaker 1: build my wealth, let me use all of my assets.

254
00:13:23,480 --> 00:13:26,040
Speaker 1: And skills correctly where I'm at here on the East Coast.

255
00:13:26,760 --> 00:13:29,000
Speaker 1: When I get married, I want to retire, then we

256
00:13:29,040 --> 00:13:31,400
Speaker 1: can go to California. But everything to me when it

257
00:13:31,400 --> 00:13:33,640
Speaker 1: comes to money, when it comes to building wealth, and

258
00:13:33,679 --> 00:13:36,439
Speaker 1: you know this is what bishop everything is. There is

259
00:13:36,480 --> 00:13:40,120
Speaker 1: a strategy to everything. You just can't just walk into it.

260
00:13:40,160 --> 00:13:42,800
Speaker 1: You just can't hope about it. There is a strategy.

261
00:13:42,840 --> 00:13:45,600
Speaker 1: There's a system to building wealth. And right now I'm

262
00:13:45,640 --> 00:13:50,360
Speaker 1: working my strategy to prevent poor performances in my retirement years.

263
00:13:51,040 --> 00:13:53,400
Speaker 1: That's my goal right now. West really what I teach everyone,

264
00:13:53,440 --> 00:13:57,800
Speaker 1: especially in school. I really want to teach my students. Hey, listen,

265
00:13:58,200 --> 00:14:02,559
Speaker 1: you're twenty one. If you can make seventy thousand dollars,

266
00:14:02,880 --> 00:14:04,600
Speaker 1: why do you want to go to California, New York.

267
00:14:05,840 --> 00:14:08,680
Speaker 1: Why not go to South Dakota. Oh it's boring over there,

268
00:14:08,679 --> 00:14:10,760
Speaker 1: ain't nothing to do over there. Yeah, but you're not

269
00:14:10,800 --> 00:14:12,680
Speaker 1: gonna do nothing in California. He because you're gonna be

270
00:14:12,679 --> 00:14:17,440
Speaker 1: bron So why not go somewhere In twenty twenty five,

271
00:14:17,520 --> 00:14:20,680
Speaker 1: when everything is virtual, you can be working from home.

272
00:14:20,840 --> 00:14:23,600
Speaker 1: The strategy is maybe work there for two to three years,

273
00:14:23,960 --> 00:14:27,000
Speaker 1: stack up your money, keep your expenses low, open up

274
00:14:27,000 --> 00:14:31,080
Speaker 1: a business, open a virtual assistant business, do something, build

275
00:14:31,120 --> 00:14:34,360
Speaker 1: your income, then maybe upgrade a little bit to the

276
00:14:34,400 --> 00:14:37,280
Speaker 1: lifestyle you want, and moment by moment you'll get there.

277
00:14:38,200 --> 00:14:45,000
Speaker 2: Chapter two. Yeah, how much do you think technology and

278
00:14:45,240 --> 00:14:51,080
Speaker 2: AI in particular has affected our ability to exceed what

279
00:14:51,160 --> 00:14:52,520
Speaker 2: our parents did financially?

280
00:14:52,840 --> 00:14:59,160
Speaker 1: Tremendously, tre tremendously. I believe Bishop, if you are not

281
00:14:59,320 --> 00:15:02,880
Speaker 1: learning AI today, you're going to miss out on a

282
00:15:03,080 --> 00:15:06,640
Speaker 1: huge wealth opportunity within the next two to five years.

283
00:15:07,000 --> 00:15:10,080
Speaker 1: If you're not utilizing if you're not taking a boot

284
00:15:10,080 --> 00:15:13,480
Speaker 1: camp on AI, if you're not learning it and implementing

285
00:15:13,520 --> 00:15:16,360
Speaker 1: it inside of your current job, I think you're going

286
00:15:16,400 --> 00:15:18,320
Speaker 1: to be even outside of a job in the next

287
00:15:18,320 --> 00:15:19,000
Speaker 1: two to three years.

288
00:15:19,000 --> 00:15:19,640
Speaker 2: Absolutely.

289
00:15:20,320 --> 00:15:22,960
Speaker 1: I was reading this article five or CEO sent the

290
00:15:23,000 --> 00:15:25,440
Speaker 1: whole email out to everyone, and I read it to

291
00:15:25,520 --> 00:15:27,800
Speaker 1: my staff and he said, pretty much, y'all, Hey, eighty

292
00:15:27,840 --> 00:15:30,200
Speaker 1: five percent of you all will not be will you'll

293
00:15:30,200 --> 00:15:31,920
Speaker 1: be out of a job if you do not use

294
00:15:32,040 --> 00:15:35,280
Speaker 1: this to help you with your job, to produce more,

295
00:15:35,600 --> 00:15:38,040
Speaker 1: to be faster, and to be stronger. I told it

296
00:15:38,040 --> 00:15:39,880
Speaker 1: to my entire staff, say, hey, listen, y'all, if we

297
00:15:39,920 --> 00:15:43,560
Speaker 1: don't utilize AI correctly. If we don't use this tool

298
00:15:43,600 --> 00:15:46,280
Speaker 1: that our parents and that my generation didn't have ten

299
00:15:46,360 --> 00:15:48,360
Speaker 1: years ago, we all are going to be out of

300
00:15:48,400 --> 00:15:51,080
Speaker 1: a job. But at the same time, Bishop, if we

301
00:15:51,160 --> 00:15:55,240
Speaker 1: use it correctly, do you know how wealthy this generation

302
00:15:55,360 --> 00:15:57,960
Speaker 1: can be? Do you know how far it is going

303
00:15:58,040 --> 00:16:01,400
Speaker 1: to push them from generating in Here's a twenty two

304
00:16:01,480 --> 00:16:03,400
Speaker 1: year old I was sitting down and just talking with

305
00:16:03,760 --> 00:16:08,520
Speaker 1: He started using AI, started his own AI business. The

306
00:16:08,880 --> 00:16:11,640
Speaker 1: young kid twenty two is making fifty five thousand dollars

307
00:16:11,720 --> 00:16:16,480
Speaker 1: a month using AI. He's living off of twenty five

308
00:16:16,560 --> 00:16:19,880
Speaker 1: hundred dollars a month. He lives out in Charlotte, North Carolina.

309
00:16:20,080 --> 00:16:21,360
Speaker 1: I'm like, what are you doing with the other money?

310
00:16:21,440 --> 00:16:23,160
Speaker 1: Oh Man, Me and my dad are buying real estate.

311
00:16:23,200 --> 00:16:25,760
Speaker 1: We're buying some land, and we're buying like other small

312
00:16:25,840 --> 00:16:28,200
Speaker 1: virtual businesses, and we're just letting it just sit there

313
00:16:28,200 --> 00:16:31,160
Speaker 1: and just building it. I said, Wow, So for me,

314
00:16:31,240 --> 00:16:33,880
Speaker 1: I think AI, Bishop is really changing use If we're

315
00:16:33,920 --> 00:16:36,600
Speaker 1: not using AI, we're going to miss out. And I

316
00:16:36,640 --> 00:16:38,520
Speaker 1: think sometimes a lot of us who are scared of

317
00:16:38,560 --> 00:16:42,040
Speaker 1: new things. But what I've learned, Bishop, people in your

318
00:16:42,480 --> 00:16:45,720
Speaker 1: in your generation who are wealthy. They're the first first

319
00:16:45,760 --> 00:16:48,360
Speaker 1: people to get into it. Now I'm following right behind.

320
00:16:48,520 --> 00:16:50,240
Speaker 1: Let me get into it. Let me take a little

321
00:16:50,280 --> 00:16:52,240
Speaker 1: bit of a risk and learn it and invest into

322
00:16:52,320 --> 00:16:54,560
Speaker 1: it so that way my children's children can be well through.

323
00:16:54,680 --> 00:16:59,800
Speaker 2: Follow me. I'm moving kind of slowly, but I'm getting there.

324
00:17:00,240 --> 00:17:03,520
Speaker 2: I'm getting there. I'm involved in it. I use it.

325
00:17:02,800 --> 00:17:05,640
Speaker 2: I do a lot of research on it. I ask

326
00:17:05,720 --> 00:17:08,119
Speaker 2: you a lot of questions. I'm learning how to maneuver

327
00:17:08,160 --> 00:17:10,040
Speaker 2: it and operate and getting ready to take for Google

328
00:17:10,040 --> 00:17:14,119
Speaker 2: Google Course Google Course to Enhance my Ability, which you

329
00:17:14,200 --> 00:17:17,240
Speaker 2: can take online, free, free that helps you to keep

330
00:17:17,320 --> 00:17:19,439
Speaker 2: up with the times. I'm not going to be like

331
00:17:19,480 --> 00:17:22,080
Speaker 2: my parents, Yes, sir, who could afford the eight tract

332
00:17:22,119 --> 00:17:25,000
Speaker 2: but couldn't run it. Yes, sir, Okay, I don't want

333
00:17:25,040 --> 00:17:27,560
Speaker 2: to end up where I can afford AI, but I

334
00:17:27,600 --> 00:17:29,640
Speaker 2: can't use it. I don't know how to operate it.

335
00:17:29,760 --> 00:17:30,720
Speaker 1: Everybody has.

336
00:17:31,119 --> 00:17:34,560
Speaker 2: The prompts are important, super if you don't, if you

337
00:17:34,560 --> 00:17:36,840
Speaker 2: don't ask the right prompts of it, you won't get

338
00:17:36,880 --> 00:17:39,520
Speaker 2: the best out of the AI and the technology. And

339
00:17:39,520 --> 00:17:42,680
Speaker 2: then we have to verify the information that you get

340
00:17:42,720 --> 00:17:44,680
Speaker 2: from MAY because it's not always accurate.

341
00:17:44,760 --> 00:17:47,879
Speaker 1: Yes, sir. One thing I'm learning Bishop is the prompt

342
00:17:48,560 --> 00:17:52,560
Speaker 1: is what we've been learning is we've been teaching AI. First,

343
00:17:52,560 --> 00:17:55,880
Speaker 1: we tell AI what we wanted to do who it is.

344
00:17:56,600 --> 00:17:59,080
Speaker 1: Once we educated Hey, for an example, Hey you are

345
00:17:59,680 --> 00:18:04,120
Speaker 1: a writer for Anthony O'Neill. You are a financial advisor

346
00:18:04,200 --> 00:18:07,680
Speaker 1: for Anthony O'Neill. U strategize and look at the next

347
00:18:07,680 --> 00:18:09,320
Speaker 1: five to ten years of this and give me the

348
00:18:09,320 --> 00:18:13,040
Speaker 1: best investment opportunities. You just can't say, hey, what should

349
00:18:13,080 --> 00:18:13,840
Speaker 1: I be investing in?

350
00:18:14,200 --> 00:18:14,360
Speaker 2: Right?

351
00:18:14,680 --> 00:18:17,400
Speaker 1: You can't do that. You need to educate the tool,

352
00:18:17,640 --> 00:18:22,360
Speaker 1: educate AI and say, hey, you are this, give me this,

353
00:18:22,960 --> 00:18:25,480
Speaker 1: what should I do with this? It's not just and

354
00:18:25,480 --> 00:18:26,679
Speaker 1: I think what I'm seeing a lot of people do

355
00:18:26,720 --> 00:18:28,359
Speaker 1: is just get on there and say hey, what should

356
00:18:28,400 --> 00:18:31,400
Speaker 1: I do here? And you're not utilizing the tool correctly.

357
00:18:32,119 --> 00:18:35,760
Speaker 2: I didn't I started. We didn't have AI obviously, Yes, sir,

358
00:18:35,840 --> 00:18:39,720
Speaker 2: we had credit cards. My dream in life was to

359
00:18:39,840 --> 00:18:45,000
Speaker 2: have a serious robot uh revolving charge account. If I

360
00:18:45,000 --> 00:18:49,000
Speaker 2: could get a serious revolving charge account, I would be good.

361
00:18:49,280 --> 00:18:51,879
Speaker 2: Het my car fix. It's not getting some clothes for

362
00:18:51,920 --> 00:19:00,000
Speaker 2: the kids. I can get everything. Yeah, I did get it,

363
00:18:59,760 --> 00:19:03,280
Speaker 2: get credit card. But that was what I thought initially

364
00:19:03,359 --> 00:19:06,959
Speaker 2: at that time, because you're just trying to make it.

365
00:19:07,560 --> 00:19:13,160
Speaker 2: You're not strategizing to succeed. You're strategizing to survive. Yes, sir,

366
00:19:13,640 --> 00:19:15,800
Speaker 2: And while there might be a period in your life

367
00:19:15,800 --> 00:19:18,920
Speaker 2: that you really do need to survive so you can succeed,

368
00:19:19,520 --> 00:19:22,240
Speaker 2: you can't stay in survival mode the rest of your life.

369
00:19:22,560 --> 00:19:28,320
Speaker 2: And you're teaching your children survival as a status and

370
00:19:28,320 --> 00:19:32,320
Speaker 2: it becomes a way of life. If John O'Brien says

371
00:19:32,320 --> 00:19:35,080
Speaker 2: this whole time, if you hang around nine people that

372
00:19:35,119 --> 00:19:36,800
Speaker 2: are broke, you're going to be the tenth oneth You

373
00:19:36,840 --> 00:19:39,960
Speaker 2: will be You just being in the atmosphere with people

374
00:19:40,000 --> 00:19:43,840
Speaker 2: who are thinking about finances, particularly with the inflation that

375
00:19:43,920 --> 00:19:49,400
Speaker 2: we have now, the currency change, the crypto, the cybercurrency

376
00:19:49,480 --> 00:19:52,520
Speaker 2: that's out there now, there's a whole different conversation than

377
00:19:52,600 --> 00:19:55,439
Speaker 2: what we have even five years ago. Yes, sir, but

378
00:19:55,560 --> 00:19:58,720
Speaker 2: it has also leveled the playing floor because everybody's new

379
00:19:58,760 --> 00:20:01,960
Speaker 2: to it. Everybody you got an equal opportunity, a chance

380
00:20:02,040 --> 00:20:04,280
Speaker 2: to be successful. Yes, what do you think about it? No?

381
00:20:04,680 --> 00:20:08,480
Speaker 1: I think bishop, if you're not using AI, if you're

382
00:20:08,520 --> 00:20:12,400
Speaker 1: not using the AI tools, to do research because one

383
00:20:12,440 --> 00:20:14,840
Speaker 1: thing that your generation didn't have and I would say

384
00:20:14,880 --> 00:20:19,040
Speaker 1: my generation we had AOL and Yahoo, right yeah, and

385
00:20:19,119 --> 00:20:23,640
Speaker 1: so for us right now, information is at your fingertips.

386
00:20:24,400 --> 00:20:26,600
Speaker 1: If you hear something, you should be able to open

387
00:20:26,720 --> 00:20:29,159
Speaker 1: up an AI tool, not Google, an AI tool and

388
00:20:29,200 --> 00:20:32,040
Speaker 1: at least get some information and then also then take

389
00:20:32,080 --> 00:20:35,200
Speaker 1: that information and go verify it for sure. But when

390
00:20:35,240 --> 00:20:37,760
Speaker 1: it comes to learning something about crypto, or at least

391
00:20:37,840 --> 00:20:42,199
Speaker 1: learning the basic information about crypto, about the stock market,

392
00:20:42,280 --> 00:20:45,359
Speaker 1: about mutual funds, about four to one K, about investing,

393
00:20:45,680 --> 00:20:48,119
Speaker 1: you should be able to get the information very very quick.

394
00:20:48,160 --> 00:20:51,600
Speaker 1: I tell this younger generation, if you can learn the

395
00:20:51,760 --> 00:20:54,360
Speaker 1: latest song from a gospel artist or from a hip

396
00:20:54,359 --> 00:20:56,760
Speaker 1: hop artist, but you can't tell me what a four

397
00:20:56,880 --> 00:21:00,720
Speaker 1: one K is, the problem is not the world your

398
00:21:00,960 --> 00:21:02,919
Speaker 1: because you took the time to go in research and

399
00:21:03,040 --> 00:21:05,880
Speaker 1: learn that song. So let's figure out away how can

400
00:21:05,920 --> 00:21:08,960
Speaker 1: we research and learn some of the basic information about

401
00:21:09,280 --> 00:21:11,919
Speaker 1: by math. But I got to say this AI, you

402
00:21:12,000 --> 00:21:13,919
Speaker 1: do have to still be careful when it comes to

403
00:21:13,960 --> 00:21:17,119
Speaker 1: the finances of things with AI because all the information

404
00:21:17,240 --> 00:21:19,600
Speaker 1: is not correct exactly, and so you do need to

405
00:21:19,600 --> 00:21:22,840
Speaker 1: step back and seek with the financial coach or financial advisor,

406
00:21:22,880 --> 00:21:27,359
Speaker 1: a CPA attack strategist, someone who is proficient in that field,

407
00:21:27,400 --> 00:21:30,080
Speaker 1: who has a degree. But what I tell everyone is

408
00:21:30,080 --> 00:21:32,640
Speaker 1: before you even go talk to them, do research for yourself.

409
00:21:33,400 --> 00:21:36,120
Speaker 1: Use AI to have to ask them questions, and when

410
00:21:36,160 --> 00:21:39,320
Speaker 1: as they're talking. I do this with my financial advisor.

411
00:21:39,560 --> 00:21:42,040
Speaker 1: I'm chatting you said what again? If it's new to me,

412
00:21:42,359 --> 00:21:45,000
Speaker 1: I'll try to type it real quick because I want

413
00:21:45,000 --> 00:21:46,040
Speaker 1: to confirm it for myself.

414
00:21:46,760 --> 00:21:49,400
Speaker 2: I tell them even before you ask a question, get

415
00:21:49,400 --> 00:21:52,920
Speaker 2: a glosstory of the language, because you can get in

416
00:21:53,040 --> 00:21:55,320
Speaker 2: the room, you know, get in the room where it happens,

417
00:21:55,440 --> 00:21:56,920
Speaker 2: where it happened. I let it be in the room

418
00:21:56,920 --> 00:21:59,600
Speaker 2: where it happens. You're not going to understand anything in

419
00:21:59,680 --> 00:22:02,199
Speaker 2: the room if you don't understand the language. Yes, and

420
00:22:02,280 --> 00:22:05,840
Speaker 2: people who are into economics have a language that will

421
00:22:05,920 --> 00:22:08,439
Speaker 2: leave you sending in the room drinking coffee, but you

422
00:22:08,480 --> 00:22:11,760
Speaker 2: won't know what's going on if you don't learn the terminology.

423
00:22:11,840 --> 00:22:12,720
Speaker 2: Set are appropriate.

424
00:22:12,760 --> 00:22:15,080
Speaker 1: Man, the terminology bishop is very important. I was on

425
00:22:15,119 --> 00:22:20,240
Speaker 1: a cruise and I studied the money space every single day.

426
00:22:20,280 --> 00:22:24,200
Speaker 1: I have a master's degree in financing, church management, bachelor's

427
00:22:24,240 --> 00:22:28,600
Speaker 1: and financing banking, then completing my doctorate this year in

428
00:22:28,680 --> 00:22:31,280
Speaker 1: financing investing. And I was in this room. I was

429
00:22:31,280 --> 00:22:35,000
Speaker 1: on a cruise and there's the wealthy, wealthy, wealthy individuals talking.

430
00:22:35,040 --> 00:22:37,040
Speaker 1: I was in there just listening. But they said something,

431
00:22:37,640 --> 00:22:39,440
Speaker 1: and they said this term five to twenty nine. I

432
00:22:39,520 --> 00:22:42,320
Speaker 1: knew about the term five twenty nine, and I said, okay,

433
00:22:42,760 --> 00:22:44,919
Speaker 1: but that's for kids. The five to twenty nine college

434
00:22:44,920 --> 00:22:48,240
Speaker 1: plan is a college investment specifically for kids to go

435
00:22:48,280 --> 00:22:50,720
Speaker 1: to college. He said, yeah, man, I haven't paid for

436
00:22:50,760 --> 00:22:52,360
Speaker 1: any of my kids to go to school really out

437
00:22:52,400 --> 00:22:54,320
Speaker 1: of my pocket. But one thing I love about the

438
00:22:54,320 --> 00:22:56,280
Speaker 1: five to twenty nine is not really just for my kids.

439
00:22:56,280 --> 00:22:58,480
Speaker 1: It's for me too. And I said, wait a minute.

440
00:22:58,600 --> 00:23:01,960
Speaker 1: I know the term, I know the language. I even

441
00:23:02,000 --> 00:23:03,560
Speaker 1: know what the five twenty nine is four. But when

442
00:23:03,560 --> 00:23:06,400
Speaker 1: he said, but it benefits me just as much as

443
00:23:06,440 --> 00:23:10,119
Speaker 1: my kids, I was like, Okay, wait, talk more. I

444
00:23:10,200 --> 00:23:12,280
Speaker 1: understood the term. I wasn't nervous. I was ready to

445
00:23:12,280 --> 00:23:14,440
Speaker 1: have the conversation. When he said, well, hey, the five

446
00:23:14,480 --> 00:23:16,959
Speaker 1: to twenty nine. Because I live in Maryland, I'm allowed

447
00:23:16,960 --> 00:23:19,119
Speaker 1: to ride off up to a certain amount of that money.

448
00:23:19,320 --> 00:23:22,000
Speaker 1: So I'm sitting there wait a minute. I'm on the cruise.

449
00:23:22,200 --> 00:23:26,960
Speaker 1: The internet is slow, but I'm asking AI, waita wait,

450
00:23:27,040 --> 00:23:28,360
Speaker 1: is this true?

451
00:23:28,560 --> 00:23:28,840
Speaker 2: Wait?

452
00:23:29,160 --> 00:23:32,280
Speaker 1: Is this really? So when I get back Bishop, I

453
00:23:32,320 --> 00:23:34,240
Speaker 1: go to my financial advisor and I said, how come

454
00:23:34,240 --> 00:23:36,520
Speaker 1: you wait and tell me this? Because another part of

455
00:23:36,520 --> 00:23:39,760
Speaker 1: building wealth and really going from survival to thriving is

456
00:23:39,800 --> 00:23:41,760
Speaker 1: not really just about how much money you make, is

457
00:23:41,760 --> 00:23:43,840
Speaker 1: about how much can you keep it? What it's your strategy.

458
00:23:44,080 --> 00:23:46,800
Speaker 1: So if I can give my kids, let's say, twenty

459
00:23:46,800 --> 00:23:48,639
Speaker 1: five hundred dollars for the year to go towards the

460
00:23:48,680 --> 00:23:51,320
Speaker 1: five twenty nine, but I can also now write that off,

461
00:23:51,560 --> 00:23:54,399
Speaker 1: that puts more money back into my pocket. Now I'm

462
00:23:54,480 --> 00:23:57,280
Speaker 1: sowing into my kids rather than to the irs, and

463
00:23:57,320 --> 00:23:59,639
Speaker 1: it helps me out, but it also helps out my kids.

464
00:24:00,240 --> 00:24:05,320
Speaker 2: Chapter three, Decreasing value of dollars. Let's talk a little

465
00:24:05,320 --> 00:24:10,200
Speaker 2: bit about the decreasing value of the dollar. Yes, sir, yes,

466
00:24:10,640 --> 00:24:13,440
Speaker 2: because you can have a million dollars, but if their

467
00:24:13,960 --> 00:24:16,280
Speaker 2: valuation of the dollar is the same as den Hora

468
00:24:16,920 --> 00:24:21,160
Speaker 2: or Pace holds, you don't have anything. It's dropped about

469
00:24:21,200 --> 00:24:24,080
Speaker 2: I think of thirty percent at this point, Yes, sir,

470
00:24:24,200 --> 00:24:28,600
Speaker 2: so a million dollars is worth for seven hundred thousand,

471
00:24:28,840 --> 00:24:32,919
Speaker 2: so one hundred dollars or seventy thousand dollars seventy dollars

472
00:24:33,440 --> 00:24:36,399
Speaker 2: on down the line. Do the math. So the thirty

473
00:24:36,440 --> 00:24:39,920
Speaker 2: percent drop means do you have to increase your earnings

474
00:24:39,960 --> 00:24:43,280
Speaker 2: to keep up with what you had before? So what

475
00:24:43,359 --> 00:24:47,360
Speaker 2: was your goal before the valuation decrease has now changed

476
00:24:47,440 --> 00:24:49,639
Speaker 2: and has to be up thirty percent to be one

477
00:24:49,720 --> 00:24:52,000
Speaker 2: hundred dollars again. I got to make one hundred and

478
00:24:52,000 --> 00:24:55,800
Speaker 2: thirty to have one hundred dollars again. Okay, when you

479
00:24:55,840 --> 00:24:59,600
Speaker 2: look at that, when you look at bricks taking over globally,

480
00:24:59,640 --> 00:25:02,679
Speaker 2: and you can other currencies coming in and the flood

481
00:25:02,760 --> 00:25:05,280
Speaker 2: of dollars coming back. When you look at the FED

482
00:25:05,840 --> 00:25:10,440
Speaker 2: rates changing, what do you think the future holds for

483
00:25:10,840 --> 00:25:14,160
Speaker 2: young people who are trying to make it in this country?

484
00:25:14,520 --> 00:25:17,520
Speaker 2: Are we going to have the wordwithal financially to be

485
00:25:18,400 --> 00:25:21,920
Speaker 2: not even rich, just to have our heads above water.

486
00:25:22,480 --> 00:25:27,159
Speaker 1: I think we will be. Honestly, I am concerned, but

487
00:25:27,320 --> 00:25:30,520
Speaker 1: not concerned, if that makes sense. I'm concerned to make

488
00:25:30,560 --> 00:25:33,680
Speaker 1: sure that we give and teach the right information. I'm

489
00:25:33,760 --> 00:25:37,040
Speaker 1: not concerned because I believe that this generation has the

490
00:25:37,080 --> 00:25:41,640
Speaker 1: better earning potential than any of our other generations. We're

491
00:25:41,680 --> 00:25:46,800
Speaker 1: seeing a rise of this social media influencer world, you know,

492
00:25:46,840 --> 00:25:50,240
Speaker 1: where they're making millions just for doing something. We're seeing

493
00:25:50,280 --> 00:25:53,720
Speaker 1: a rise of young people starting businesses. We're even seeing

494
00:25:54,160 --> 00:25:57,000
Speaker 1: this younger generation moving out of the country, going to

495
00:25:57,119 --> 00:26:01,040
Speaker 1: other countries, working internationally, but still earning the US dollar.

496
00:26:01,520 --> 00:26:05,359
Speaker 1: And so I'm not really concerned about young people surviving.

497
00:26:05,400 --> 00:26:08,639
Speaker 1: Here's what I am concerned about, is they're going to

498
00:26:08,760 --> 00:26:11,600
Speaker 1: make this money or do they have the right, the

499
00:26:11,680 --> 00:26:14,840
Speaker 1: information and the education to keep this money in to

500
00:26:15,000 --> 00:26:18,160
Speaker 1: multiply it. Prime example, if the dollar is going down,

501
00:26:18,240 --> 00:26:20,720
Speaker 1: like you said, it's bout thirty percent, there's two things

502
00:26:20,720 --> 00:26:22,400
Speaker 1: you gotta do. We need to earn more. But then

503
00:26:22,400 --> 00:26:24,879
Speaker 1: also with what we're earning, how we're investing it to

504
00:26:24,920 --> 00:26:28,000
Speaker 1: keep that money grown with the inflation. And so for me,

505
00:26:28,160 --> 00:26:31,000
Speaker 1: it's like, Okay, if I'm going to earn less, then

506
00:26:31,080 --> 00:26:35,040
Speaker 1: what how do I place this money into vehicles and

507
00:26:35,240 --> 00:26:39,600
Speaker 1: avenues that can keep up with inflation, that can keep

508
00:26:39,680 --> 00:26:42,960
Speaker 1: up with the dollar going down. So instead of me

509
00:26:43,040 --> 00:26:45,240
Speaker 1: keeping my money into a regular save for an example,

510
00:26:45,320 --> 00:26:48,040
Speaker 1: regular savings account for an emergency fund and getting the

511
00:26:48,160 --> 00:26:50,240
Speaker 1: sayo point four percent well, I'm gonna put that into

512
00:26:50,280 --> 00:26:54,040
Speaker 1: a HI savings that's given me forty five percent set

513
00:26:54,160 --> 00:26:56,400
Speaker 1: for me keeping it inside of a regular savings account

514
00:26:56,640 --> 00:26:58,719
Speaker 1: or keeping a large amount of money because we are

515
00:26:58,760 --> 00:27:01,160
Speaker 1: starting to see this now what, well, I'm gonna put

516
00:27:01,160 --> 00:27:03,600
Speaker 1: that money into a good mutual fund into a good

517
00:27:04,480 --> 00:27:07,760
Speaker 1: state to where now earning about ten percent twelve percent.

518
00:27:08,040 --> 00:27:11,000
Speaker 1: So we have to be strategic on Okay, yes, let's

519
00:27:11,040 --> 00:27:15,119
Speaker 1: earn more, but whatever's outside of our expenses, how do

520
00:27:15,160 --> 00:27:18,120
Speaker 1: we put that into a vehicle that can now keep

521
00:27:18,160 --> 00:27:20,080
Speaker 1: up with inflation? To where are now our money is

522
00:27:20,119 --> 00:27:21,000
Speaker 1: making more money.

523
00:27:21,520 --> 00:27:23,399
Speaker 2: That's something we got to think about. We still have

524
00:27:23,600 --> 00:27:27,159
Speaker 2: one of the strongest GDPs in the world. Yes, okay,

525
00:27:27,600 --> 00:27:30,800
Speaker 2: so at this point we're not in real bad trouble,

526
00:27:31,440 --> 00:27:34,800
Speaker 2: but we gotta be watching it right because the fastest

527
00:27:34,800 --> 00:27:37,719
Speaker 2: growing GDP is coming out of Africa. It sure is, okay,

528
00:27:38,119 --> 00:27:41,560
Speaker 2: So their youth is there, the money is there, the

529
00:27:41,600 --> 00:27:45,359
Speaker 2: resources are there, and instead of going to another country

530
00:27:45,440 --> 00:27:47,879
Speaker 2: and putting your money back into dollars in America, we

531
00:27:48,080 --> 00:27:50,400
Speaker 2: might not have been thinking about putting some of our

532
00:27:50,400 --> 00:27:53,360
Speaker 2: money into Africa and into Chin in different places like that,

533
00:27:53,560 --> 00:27:58,080
Speaker 2: and investing internationally because currency means it. How to be

534
00:27:58,160 --> 00:28:02,200
Speaker 2: flowing is global. Global. You gotta think global. You can't

535
00:28:02,240 --> 00:28:05,000
Speaker 2: just think communal. You gotta think global. Do you agree

536
00:28:05,000 --> 00:28:05,280
Speaker 2: with that?

537
00:28:05,320 --> 00:28:08,679
Speaker 1: Absolutely? I'm actually buying property in Ghana at this present

538
00:28:08,720 --> 00:28:12,600
Speaker 1: moment because what I learned was, and I take a

539
00:28:12,600 --> 00:28:14,719
Speaker 1: group of people over there every single year just to

540
00:28:14,880 --> 00:28:17,919
Speaker 1: learn from your perspective, Like, wait a minute, if I

541
00:28:17,920 --> 00:28:20,280
Speaker 1: could buy a home here in America for this amount,

542
00:28:20,440 --> 00:28:22,000
Speaker 1: do you know how much I could buy a home

543
00:28:22,000 --> 00:28:26,720
Speaker 1: in Ghana. So we're purchasing land in Ghana, and man,

544
00:28:26,760 --> 00:28:28,960
Speaker 1: I'm excited because just for an example, one of the

545
00:28:29,000 --> 00:28:30,920
Speaker 1: homes will we purchased was for one hundred and fifty

546
00:28:30,960 --> 00:28:34,840
Speaker 1: thousand dollars. I'm not finding that here in America. And

547
00:28:34,880 --> 00:28:36,760
Speaker 1: so what we're gonna do is take that property, rent

548
00:28:36,760 --> 00:28:39,760
Speaker 1: it out, Airbnb it out, however we're going to do it.

549
00:28:39,800 --> 00:28:43,800
Speaker 1: But it's the fact is I'm looking out at every aspect,

550
00:28:43,920 --> 00:28:46,520
Speaker 1: not just here in America, but where else out of

551
00:28:46,560 --> 00:28:51,160
Speaker 1: the country can I sow into one because Africa's is

552
00:28:51,160 --> 00:28:53,520
Speaker 1: dear to my heart. So I'm giving back to that area.

553
00:28:53,560 --> 00:28:56,080
Speaker 1: But at the same time, it produces more wealth and

554
00:28:56,120 --> 00:28:59,160
Speaker 1: it's a different machine from me there, So I think, Bishop,

555
00:28:59,280 --> 00:29:04,000
Speaker 1: we have to be strategic in all aspects. But again,

556
00:29:04,120 --> 00:29:08,000
Speaker 1: people won't know that unless you're listening to podcasts like yours,

557
00:29:08,000 --> 00:29:12,560
Speaker 1: since they're in the room learning. Hey, y'all, there's different strategies,

558
00:29:12,840 --> 00:29:15,440
Speaker 1: not just in America, but you can make money over

559
00:29:15,480 --> 00:29:19,280
Speaker 1: here in Africa. Some people are even going to Puerto Rico. Bishop, Oh,

560
00:29:19,320 --> 00:29:21,320
Speaker 1: absolutely because as they understand it that way, if I

561
00:29:21,320 --> 00:29:23,280
Speaker 1: go to Puerto Rico lived there, half of the time

562
00:29:23,640 --> 00:29:26,160
Speaker 1: was going to save me in my tax Yes. Absolutely,

563
00:29:26,200 --> 00:29:29,280
Speaker 1: So everything everything goes back to the word for me strategy.

564
00:29:29,440 --> 00:29:31,960
Speaker 1: What is the right strategy to keep as much as

565
00:29:32,000 --> 00:29:35,080
Speaker 1: my money to keep me growing and moving flowing. But

566
00:29:35,320 --> 00:29:36,840
Speaker 1: we got to be in a room Justison.

567
00:29:36,960 --> 00:29:40,680
Speaker 2: Wow, in Texas there is no state Texas, Okay, so

568
00:29:40,720 --> 00:29:42,800
Speaker 2: you can put that into it. That makes a big difference.

569
00:29:43,000 --> 00:29:45,719
Speaker 2: There's a lot of things to consider about where you

570
00:29:45,760 --> 00:29:47,200
Speaker 2: live and where you want to go and where you

571
00:29:47,240 --> 00:29:50,760
Speaker 2: want to invest in order to be able to be

572
00:29:50,800 --> 00:29:55,280
Speaker 2: affluent and successful. And the ultimate goal is for your

573
00:29:55,320 --> 00:29:56,560
Speaker 2: money to be making money.

574
00:29:56,600 --> 00:29:58,680
Speaker 1: That's it, Bishop. We got to get to a point,

575
00:29:59,400 --> 00:30:03,040
Speaker 1: I believe, and I have this written around in every

576
00:30:03,080 --> 00:30:06,920
Speaker 1: single room that I frequent in my home that I

577
00:30:07,040 --> 00:30:10,560
Speaker 1: want to stop exchanging my time for money and start

578
00:30:10,600 --> 00:30:14,600
Speaker 1: exchanging my money for more of my time back. Absolutely,

579
00:30:14,800 --> 00:30:17,200
Speaker 1: we're so good at working two three jobs. We can

580
00:30:17,240 --> 00:30:19,760
Speaker 1: go out there and work like a Hebrew slave. But

581
00:30:19,880 --> 00:30:22,360
Speaker 1: I'm tired of working like a Hebrew slave. I want

582
00:30:22,360 --> 00:30:25,040
Speaker 1: my money to work like a Hebrew slave. I want

583
00:30:25,080 --> 00:30:27,040
Speaker 1: to be a better father. I want to be a

584
00:30:27,120 --> 00:30:30,920
Speaker 1: present father, a present husband, a present grandfather if I'm

585
00:30:30,960 --> 00:30:34,080
Speaker 1: blessed to be there. But I have to figure out, Wait,

586
00:30:34,440 --> 00:30:36,560
Speaker 1: how can my money start making more money to where

587
00:30:36,560 --> 00:30:38,160
Speaker 1: I have more time to do the things that I

588
00:30:38,240 --> 00:30:40,440
Speaker 1: desire to do, to spend the time that I want

589
00:30:40,440 --> 00:30:42,520
Speaker 1: to spend with the people that I want. But we

590
00:30:42,520 --> 00:30:45,560
Speaker 1: were trained. I was trained growing up, go to school,

591
00:30:46,080 --> 00:30:49,479
Speaker 1: work forty years to only get forty percent of your paycheck,

592
00:30:49,520 --> 00:30:53,960
Speaker 1: get your goal watch, get a goal watch, and retire well,

593
00:30:54,040 --> 00:30:57,560
Speaker 1: And I'm like, I don't want to retire. What I

594
00:30:57,600 --> 00:30:59,520
Speaker 1: want to do is just continue doing what I would

595
00:30:59,560 --> 00:31:01,600
Speaker 1: love to do. But I want to get to the

596
00:31:01,640 --> 00:31:05,920
Speaker 1: point to where my money I don't feel like I retired,

597
00:31:06,800 --> 00:31:08,480
Speaker 1: I feel like I actually elevated.

598
00:31:09,480 --> 00:31:13,720
Speaker 2: The state of Texas represents ten percent of the National GDP. Yes, sir,

599
00:31:14,600 --> 00:31:19,000
Speaker 2: it's all money, it's oil, it's gas, gas, it's all

600
00:31:19,080 --> 00:31:22,680
Speaker 2: kinds of resources like that. Yes, But it's also companies

601
00:31:22,720 --> 00:31:25,480
Speaker 2: that have spread their wings into other parts of the world.

602
00:31:25,960 --> 00:31:31,240
Speaker 2: So you look at companies like Google, like McDonald's, they're

603
00:31:31,320 --> 00:31:35,640
Speaker 2: popping up all over the world. KFC is everywhere, yes sir, Okay,

604
00:31:36,040 --> 00:31:39,720
Speaker 2: you get you a greed piece anywhere in the world, okay.

605
00:31:40,000 --> 00:31:44,280
Speaker 2: Because the people who are really really serious about business

606
00:31:45,400 --> 00:31:50,760
Speaker 2: don't have any prejudice about capital. They might have prejudice

607
00:31:50,800 --> 00:31:54,240
Speaker 2: about anything else, but they don't have any prejudice about capital.

608
00:31:54,600 --> 00:31:57,560
Speaker 2: They will get capital from anywhere anywhere. So you will

609
00:31:57,680 --> 00:32:02,320
Speaker 2: have Asian people selling black people we okay, because they

610
00:32:02,440 --> 00:32:05,720
Speaker 2: understand that green is the ultimate purpose of getting up

611
00:32:05,760 --> 00:32:06,560
Speaker 2: in the morning, going.

612
00:32:06,840 --> 00:32:08,720
Speaker 1: Yes sir, yes, yes.

613
00:32:09,040 --> 00:32:13,320
Speaker 2: You don't hear people in church talking about that, and

614
00:32:14,080 --> 00:32:16,560
Speaker 2: maybe they shouldn't, but there ought to be some place

615
00:32:16,600 --> 00:32:19,640
Speaker 2: where you can go and get some information that helps

616
00:32:19,680 --> 00:32:23,080
Speaker 2: you to be stable. Because there is a correlation between

617
00:32:23,640 --> 00:32:29,280
Speaker 2: poverty and crime. Whenever poverty escalates, crime goes up, hate

618
00:32:29,360 --> 00:32:32,760
Speaker 2: goes up, racism goes up. When people aren't doing well,

619
00:32:32,800 --> 00:32:35,760
Speaker 2: they need somebody to blame. They need somebody to hate.

620
00:32:35,840 --> 00:32:40,920
Speaker 2: And so the societal health is earmarked by how well

621
00:32:41,000 --> 00:32:44,160
Speaker 2: we are doing financially, the love that I wish above

622
00:32:44,200 --> 00:32:46,760
Speaker 2: all things, that you prosper, and being good health as

623
00:32:46,800 --> 00:32:51,000
Speaker 2: your soul does prosper. So there is some correlation between

624
00:32:51,240 --> 00:32:55,120
Speaker 2: how you are spiritually how you are financially disciplined. If

625
00:32:55,120 --> 00:32:57,080
Speaker 2: you don't have discipline about one thing, you're not gonna

626
00:32:57,080 --> 00:33:00,880
Speaker 2: have discipline about anything. It affects everything. Where do you

627
00:33:00,960 --> 00:33:04,040
Speaker 2: think can you name some places where people can readily

628
00:33:04,440 --> 00:33:06,840
Speaker 2: get this kind of information. By the way, I'm not

629
00:33:06,880 --> 00:33:10,040
Speaker 2: an expert. We're just having a conversation. Do your own research.

630
00:33:10,160 --> 00:33:12,800
Speaker 2: Please enter in at your own risk. Number One, it's

631
00:33:12,880 --> 00:33:15,480
Speaker 2: changing every day, yes, sir, Yes, the stock market is

632
00:33:15,560 --> 00:33:17,600
Speaker 2: changing every day. I don't know whether it went up

633
00:33:17,600 --> 00:33:22,200
Speaker 2: today or down today. Yesterday it went down, it did

634
00:33:22,520 --> 00:33:24,240
Speaker 2: it went down today.

635
00:33:24,280 --> 00:33:25,360
Speaker 1: The market was even.

636
00:33:25,320 --> 00:33:27,040
Speaker 2: Okay yesterday I got baptist.

637
00:33:27,280 --> 00:33:30,200
Speaker 3: Yes, sir, I didn't even look at it. I didn't

638
00:33:30,200 --> 00:33:32,480
Speaker 3: want to see it. I didn't want to know anything

639
00:33:32,480 --> 00:33:34,240
Speaker 3: about it. And if we come up from some of

640
00:33:34,280 --> 00:33:37,080
Speaker 3: these political shows and started looking at some of these

641
00:33:37,120 --> 00:33:41,000
Speaker 3: financial shows, because we really begin to understand that the

642
00:33:41,040 --> 00:33:44,080
Speaker 3: financial show is driving the political administry.

643
00:33:44,200 --> 00:33:47,479
Speaker 1: Absolutely, absolutely, But I would say this too, Bischof. I'm

644
00:33:47,480 --> 00:33:50,040
Speaker 1: gonna answer your question. When the market just goes down,

645
00:33:50,160 --> 00:33:53,200
Speaker 1: I honestly get a little excited. I don't look at

646
00:33:53,240 --> 00:33:55,960
Speaker 1: my portfolio. I just called my financial advisor, as a

647
00:33:55,960 --> 00:33:58,200
Speaker 1: money guy, say hey, listen, what stocks should we be

648
00:33:58,200 --> 00:33:58,840
Speaker 1: buying right now?

649
00:33:59,040 --> 00:33:59,200
Speaker 2: Right?

650
00:33:59,360 --> 00:34:02,120
Speaker 1: What stock is going to sell? And I think, oftentimes

651
00:34:02,200 --> 00:34:04,080
Speaker 1: what what I'm seeing is because of the lack of

652
00:34:04,080 --> 00:34:08,040
Speaker 1: information is people will tend to pull out. And I'm like, don't,

653
00:34:08,080 --> 00:34:09,680
Speaker 1: don't do it. That's the worst to do it. The

654
00:34:09,680 --> 00:34:12,120
Speaker 1: worst time you need to be asking how can you

655
00:34:12,160 --> 00:34:17,000
Speaker 1: buy into it? And man, five years ago one of

656
00:34:17,000 --> 00:34:24,560
Speaker 1: my friends, yes, sir, that's why I call it financial advisor, Like, hey,

657
00:34:25,360 --> 00:34:28,440
Speaker 1: what do you see working now? You know what's going

658
00:34:28,480 --> 00:34:31,920
Speaker 1: to bounce back? Right, But there's a lot of resources

659
00:34:31,920 --> 00:34:37,200
Speaker 1: out there. You have invest dot com, money dot com.

660
00:34:37,239 --> 00:34:41,920
Speaker 1: That I say, from an educational perspective, I say, never

661
00:34:42,200 --> 00:34:46,000
Speaker 1: take financial advice from online. Take it from a licensed

662
00:34:46,000 --> 00:34:50,160
Speaker 1: financial advice right because everything online is going to come

663
00:34:50,160 --> 00:34:54,040
Speaker 1: from someone's perspective. But you need actual facts and data

664
00:34:54,400 --> 00:34:56,439
Speaker 1: when it comes to investing your money in your time.

665
00:34:56,960 --> 00:35:00,880
Speaker 1: But I love money dot com from an educationtional perspective.

666
00:35:00,920 --> 00:35:03,719
Speaker 1: I love invest dot com from an educational perspective. I

667
00:35:03,760 --> 00:35:07,600
Speaker 1: love my podcast from an educational perspective. Right, But I

668
00:35:07,640 --> 00:35:11,600
Speaker 1: tell you, I tell everyone like, hey, go seek a

669
00:35:11,760 --> 00:35:15,000
Speaker 1: financial advisor who is studying this eight hours a day

670
00:35:15,560 --> 00:35:17,600
Speaker 1: because the stock market is changing all the time. And

671
00:35:17,640 --> 00:35:22,359
Speaker 1: you know that Bishop and so I love those two

672
00:35:22,400 --> 00:35:26,160
Speaker 1: particular resources in my website. But I think one of

673
00:35:26,160 --> 00:35:28,839
Speaker 1: the generals who I love, who's a good friend of yours,

674
00:35:28,920 --> 00:35:32,000
Speaker 1: is John O'Brien his podcast. I listen to his information

675
00:35:32,360 --> 00:35:36,360
Speaker 1: every single podcast he comes out. He's brilliant, He's super brilliant.

676
00:35:36,440 --> 00:35:39,160
Speaker 1: He is a general to me in the financial space.

677
00:35:39,320 --> 00:35:44,320
Speaker 1: We talk almost every day. I love John hopeern amazing.

678
00:35:44,640 --> 00:35:48,200
Speaker 1: I pray that in the financial space that I get

679
00:35:48,200 --> 00:35:48,759
Speaker 1: to his level.

680
00:35:48,760 --> 00:35:55,279
Speaker 2: One Beast, Chapter four, Live within Your Maids. It's important

681
00:35:55,360 --> 00:35:58,759
Speaker 2: because we need to be thinking about being able to

682
00:35:58,800 --> 00:36:02,640
Speaker 2: send our children to school, being able to make better choices,

683
00:36:03,200 --> 00:36:07,200
Speaker 2: being able to take care of ourselves if we get incapacitated.

684
00:36:07,640 --> 00:36:09,279
Speaker 2: Used to be when we were growing up, you know,

685
00:36:09,360 --> 00:36:13,000
Speaker 2: Grandpa sat on the front porch and we brought him

686
00:36:13,040 --> 00:36:15,120
Speaker 2: some collared greens and some sweet potato pie, and he

687
00:36:15,200 --> 00:36:17,400
Speaker 2: sat out there and fell asleep until one day we

688
00:36:17,440 --> 00:36:20,160
Speaker 2: came out there he was dead. That's not working anymore

689
00:36:20,480 --> 00:36:24,560
Speaker 2: because everybody's at work. So people have to put people

690
00:36:24,640 --> 00:36:27,480
Speaker 2: in homes, not because they don't care, but because they

691
00:36:27,520 --> 00:36:30,160
Speaker 2: can't lift him anymore, or they've got to work every day,

692
00:36:30,440 --> 00:36:32,120
Speaker 2: or they don't have enough help to be able to do.

693
00:36:32,480 --> 00:36:35,920
Speaker 2: And that is very, very very expensive. My mother had Alzheimer's,

694
00:36:36,040 --> 00:36:39,320
Speaker 2: that is very expensive. I kept her in my house,

695
00:36:39,600 --> 00:36:43,080
Speaker 2: but not everybody can do that facts and it's very

696
00:36:43,160 --> 00:36:46,200
Speaker 2: very taxing on you emotionally, mentally, and you have to

697
00:36:46,239 --> 00:36:49,160
Speaker 2: have a strategy, and it cannot be built on your

698
00:36:49,280 --> 00:36:54,080
Speaker 2: children because you cannot be sure that your children are

699
00:36:54,120 --> 00:36:56,920
Speaker 2: going to take care of you, like your grandma took

700
00:36:57,000 --> 00:36:58,520
Speaker 2: care of her great grandma.

701
00:36:58,239 --> 00:37:02,359
Speaker 1: No sir, no sir, And I relate to that. My

702
00:37:02,440 --> 00:37:09,120
Speaker 1: mother took in my grandmother. And when my mom took

703
00:37:09,160 --> 00:37:12,200
Speaker 1: in my grandma, do you know how much that impacted

704
00:37:12,239 --> 00:37:19,720
Speaker 1: that house. It took finances from the family to protect

705
00:37:19,760 --> 00:37:25,080
Speaker 1: Grandma because Grandma was depending on her daughter. But Grandma,

706
00:37:25,120 --> 00:37:28,600
Speaker 1: I believe God rest her soul, that she forgot that

707
00:37:28,719 --> 00:37:32,480
Speaker 1: her daughter had a family right and the children had

708
00:37:32,480 --> 00:37:34,920
Speaker 1: to pay for that. And so one of the things

709
00:37:34,920 --> 00:37:37,719
Speaker 1: that I believe is that we have to have the

710
00:37:37,920 --> 00:37:42,360
Speaker 1: right and the proper investments in place. The proper insurance

711
00:37:42,440 --> 00:37:44,919
Speaker 1: is in place when it comes from long term care,

712
00:37:45,040 --> 00:37:50,279
Speaker 1: short term care, life insurance, whether that's term or life policies.

713
00:37:50,640 --> 00:37:55,600
Speaker 1: We have to start having that conversation now so that way,

714
00:37:56,120 --> 00:38:00,279
Speaker 1: when life happens, you are in a position to where

715
00:38:00,400 --> 00:38:04,480
Speaker 1: now the only thing that is going to impact the

716
00:38:04,560 --> 00:38:07,759
Speaker 1: family is just a little bit of time to help

717
00:38:07,800 --> 00:38:10,600
Speaker 1: you get situated, but it should not impact the family

718
00:38:10,680 --> 00:38:14,920
Speaker 1: financially or even emotionally. And so that's one thing I

719
00:38:14,960 --> 00:38:17,399
Speaker 1: do believe. We got to start having a conversation, which

720
00:38:17,600 --> 00:38:20,359
Speaker 1: do we have the right insurance polities in place? Do

721
00:38:20,440 --> 00:38:23,799
Speaker 1: we have the right situation strategy in place to make

722
00:38:23,800 --> 00:38:27,560
Speaker 1: sure that when I get older that my children are impacted.

723
00:38:27,640 --> 00:38:30,239
Speaker 1: Here's my goal. Bitshop Well, it would happen now if

724
00:38:30,280 --> 00:38:32,480
Speaker 1: I had kids. Now I'm at a point to where

725
00:38:33,080 --> 00:38:38,839
Speaker 1: they would just have to move me in. But if

726
00:38:38,880 --> 00:38:42,759
Speaker 1: I move in, so does my money. Yeah, so does resources.

727
00:38:42,920 --> 00:38:46,439
Speaker 1: So I'm not coming in and taking I'm coming in

728
00:38:46,560 --> 00:38:50,279
Speaker 1: and providing more resources. And I think and it's not

729
00:38:50,560 --> 00:38:55,960
Speaker 1: expensive if we start early in putting into proper procedures and.

730
00:38:55,560 --> 00:38:59,280
Speaker 2: And if we provide them with information, because the reason

731
00:38:59,360 --> 00:39:02,160
Speaker 2: that most people hit the lottery and broke in three

732
00:39:02,239 --> 00:39:04,040
Speaker 2: years is that they get the money, but they don't

733
00:39:04,040 --> 00:39:04,600
Speaker 2: get the mind.

734
00:39:04,760 --> 00:39:06,960
Speaker 1: Yes, sir, So if you're gonna leave.

735
00:39:06,840 --> 00:39:09,360
Speaker 2: Them money, you gotta leave more mind than you leave money,

736
00:39:09,400 --> 00:39:11,880
Speaker 2: or they're gonna blow through your money like like like

737
00:39:11,960 --> 00:39:15,840
Speaker 2: it's a hurricane. And it's a real problem. It's something

738
00:39:15,920 --> 00:39:19,520
Speaker 2: really to be thinking about because we are seeing one

739
00:39:19,520 --> 00:39:22,680
Speaker 2: of the largest wealth transfers in the history of America.

740
00:39:22,840 --> 00:39:26,080
Speaker 2: And the big problem amongst wealthy people is nobody leave

741
00:39:26,160 --> 00:39:27,320
Speaker 2: their money to Bishop.

742
00:39:27,719 --> 00:39:30,560
Speaker 1: One of the things that I've done. Bishop is not

743
00:39:30,680 --> 00:39:34,959
Speaker 1: married yet, don't have any kids. But God can.

744
00:39:34,880 --> 00:39:42,400
Speaker 2: Don't do commercials on minds.

745
00:39:43,680 --> 00:39:48,080
Speaker 1: That's okay. But six years ago God he convicted me

746
00:39:48,120 --> 00:39:50,800
Speaker 1: and said, I need you to start writing down every

747
00:39:51,000 --> 00:39:54,799
Speaker 1: single money lessons you've learned and put it inside your

748
00:39:54,880 --> 00:39:58,120
Speaker 1: estate plan, so that way when you pass and you

749
00:39:58,200 --> 00:40:01,440
Speaker 1: leave all this wealth of information and to your children,

750
00:40:01,520 --> 00:40:04,320
Speaker 1: to my nieces and nephews, that you're not just leaving

751
00:40:04,320 --> 00:40:07,239
Speaker 1: them a check, but you're also leaving them what you

752
00:40:07,360 --> 00:40:09,279
Speaker 1: The mistake that you made and what you learned from

753
00:40:09,280 --> 00:40:12,080
Speaker 1: that mistake. And I think that is important because now

754
00:40:12,120 --> 00:40:14,600
Speaker 1: I'm not just giving them that And inside of my state,

755
00:40:14,640 --> 00:40:16,960
Speaker 1: if I was a past today, before they can get

756
00:40:17,000 --> 00:40:19,040
Speaker 1: any of that money, it is written inside of my

757
00:40:19,160 --> 00:40:22,480
Speaker 1: trust that they have to read this and provide it

758
00:40:22,520 --> 00:40:24,879
Speaker 1: to my brother who is my estate holder, who would

759
00:40:24,920 --> 00:40:27,640
Speaker 1: execute the estate. And they got to provide answers before

760
00:40:27,680 --> 00:40:29,480
Speaker 1: they can get any of the check. So they got

761
00:40:29,520 --> 00:40:31,799
Speaker 1: to provide me. They got to show me that they

762
00:40:31,920 --> 00:40:34,839
Speaker 1: learned before they can benefit from my estate.

763
00:40:35,920 --> 00:40:39,400
Speaker 2: I think we have two different philosophies, not about that,

764
00:40:39,520 --> 00:40:42,319
Speaker 2: but about what I'm about to say, and I might

765
00:40:42,360 --> 00:40:45,880
Speaker 2: be wrong. I was told that you don't believe that

766
00:40:46,000 --> 00:40:48,000
Speaker 2: we should finance automobiles.

767
00:40:48,400 --> 00:40:50,879
Speaker 1: Yeah, yeah, yeah, yeah, we disagree with that. Bishop, Yeah,

768
00:40:53,239 --> 00:40:56,360
Speaker 1: cash for it. I believe, yes, sir. I believe that

769
00:40:56,440 --> 00:41:01,839
Speaker 1: when it comes to liabilities, I believe that until you

770
00:41:01,920 --> 00:41:04,719
Speaker 1: have a certain amount of network, you should keep your

771
00:41:04,719 --> 00:41:09,319
Speaker 1: expenses and your consumer det down extremely low, because it's

772
00:41:09,320 --> 00:41:11,160
Speaker 1: like if you buy a car. And I would love

773
00:41:11,200 --> 00:41:12,719
Speaker 1: to have this conversation with you because you are a

774
00:41:12,800 --> 00:41:18,560
Speaker 1: general I respect your words. I believe that my generation

775
00:41:19,600 --> 00:41:23,880
Speaker 1: will go finance an eighty thousand dollar car just because

776
00:41:23,880 --> 00:41:26,160
Speaker 1: we light the car and we look at it. I

777
00:41:26,200 --> 00:41:28,560
Speaker 1: would not have a problem if someone came to me

778
00:41:28,600 --> 00:41:31,160
Speaker 1: and said, I financed a ten thousand dollar car because

779
00:41:31,200 --> 00:41:34,760
Speaker 1: I didn't have the funds. My problem is we financed

780
00:41:34,800 --> 00:41:37,160
Speaker 1: close to three times more than what we can afford

781
00:41:37,280 --> 00:41:38,320
Speaker 1: because we got approved.

782
00:41:39,200 --> 00:41:41,960
Speaker 2: See that's a whole different mistake. Okay, that's a whole

783
00:41:41,960 --> 00:41:45,479
Speaker 2: different mistake. I look at it differently because I think

784
00:41:45,719 --> 00:41:48,520
Speaker 2: capitaloid is king. Yes, once you give up the cast,

785
00:41:48,560 --> 00:41:51,239
Speaker 2: you can never get it back again. If you finance

786
00:41:51,360 --> 00:41:54,279
Speaker 2: it and you're reasonable about getting something that you can

787
00:41:54,360 --> 00:41:57,440
Speaker 2: afford when you get ready to trade it in in

788
00:41:57,480 --> 00:41:59,680
Speaker 2: a few years, that you pass that debt onto somebody

789
00:41:59,760 --> 00:42:02,279
Speaker 2: else and you still got the cash. If you pay

790
00:42:02,320 --> 00:42:06,240
Speaker 2: all the cash out, you're now carless and cash less.

791
00:42:06,719 --> 00:42:09,840
Speaker 2: So you want to keep enough cash reserves that should

792
00:42:09,840 --> 00:42:11,879
Speaker 2: something come up that you need to pay it off,

793
00:42:12,160 --> 00:42:15,440
Speaker 2: you always can. But you can borrow and invest the

794
00:42:15,520 --> 00:42:18,359
Speaker 2: money and make more money off of the interest off

795
00:42:18,400 --> 00:42:20,880
Speaker 2: of the investment. Then you are paying the interest on

796
00:42:20,960 --> 00:42:21,360
Speaker 2: the loan.

797
00:42:21,800 --> 00:42:24,719
Speaker 1: Now I like that. Bishop. If they were doing that

798
00:42:25,760 --> 00:42:28,440
Speaker 1: on something that they can honestly afford.

799
00:42:28,200 --> 00:42:31,320
Speaker 2: Right, well, that goes back to the mindset. Now, I

800
00:42:31,360 --> 00:42:35,719
Speaker 2: see we got to stop blinging, buying what we want

801
00:42:35,840 --> 00:42:38,560
Speaker 2: and begging what we need. There, you go, see that's

802
00:42:38,600 --> 00:42:41,919
Speaker 2: a big problem. I'm not talking about that kind of stuff, sir,

803
00:42:42,040 --> 00:42:44,719
Speaker 2: because the person who has the sense enough to take

804
00:42:44,760 --> 00:42:48,279
Speaker 2: their money and invest it is I'm assuming that they're

805
00:42:48,320 --> 00:42:51,960
Speaker 2: smart enough that they're not blinging trying to impress somebody,

806
00:42:52,239 --> 00:42:56,440
Speaker 2: because they wouldn't have the delayed gratification to be an investor.

807
00:42:57,520 --> 00:43:00,800
Speaker 2: I'm assuming that I'm assuming that this market's going to

808
00:43:00,880 --> 00:43:03,600
Speaker 2: continue to make ten of the twelve percent an interest,

809
00:43:03,680 --> 00:43:06,120
Speaker 2: and I'm assuming that the interest on the loan is

810
00:43:06,160 --> 00:43:09,320
Speaker 2: going to be less than the capital gains off the money,

811
00:43:09,320 --> 00:43:11,359
Speaker 2: and I'm gonna pay less off of it. And I'm

812
00:43:11,400 --> 00:43:13,319
Speaker 2: assuming that I'm gonna pass some of that debt on

813
00:43:13,640 --> 00:43:15,839
Speaker 2: when I traded in, and somebody else is gonna pay

814
00:43:15,840 --> 00:43:16,120
Speaker 2: it off.

815
00:43:16,400 --> 00:43:20,640
Speaker 1: Now, you're assuming, at your at your season of life,

816
00:43:20,960 --> 00:43:24,839
Speaker 1: what I'm seeing when I'm coaching this generation, I would say,

817
00:43:24,880 --> 00:43:27,920
Speaker 1: at the time of its recording this in between twenty

818
00:43:27,960 --> 00:43:32,200
Speaker 1: five and about forty five to master fifty. They are

819
00:43:32,480 --> 00:43:35,560
Speaker 1: not assuming anything. They're just buying what their eyes says

820
00:43:35,600 --> 00:43:38,799
Speaker 1: they like. And not really what their budget says. For

821
00:43:38,800 --> 00:43:42,080
Speaker 1: an example, I had a young family come to me

822
00:43:42,440 --> 00:43:45,879
Speaker 1: and they purchased a home, and their house poor because

823
00:43:45,880 --> 00:43:49,239
Speaker 1: they got approved for half a million dollar home, but

824
00:43:49,280 --> 00:43:52,560
Speaker 1: they their bills, their check, their income said they can

825
00:43:52,640 --> 00:43:55,960
Speaker 1: only afford three hundred and ten thousand dollars. So I

826
00:43:56,000 --> 00:43:59,040
Speaker 1: think oftentimes I'm when I'm trying to show people, is

827
00:43:59,719 --> 00:44:02,080
Speaker 1: get what you can afford, not get what you can

828
00:44:02,120 --> 00:44:02,879
Speaker 1: get approved for.

829
00:44:04,920 --> 00:44:06,960
Speaker 2: I think that's important. The other thing that I think

830
00:44:07,000 --> 00:44:10,840
Speaker 2: is important. If you're going to spend three hundred thousand

831
00:44:10,880 --> 00:44:16,120
Speaker 2: dollars on a house and it's worth five hundred thousand dollars,

832
00:44:16,800 --> 00:44:18,960
Speaker 2: I think you're in a pretty good spot.

833
00:44:19,080 --> 00:44:19,600
Speaker 1: Absolutely.

834
00:44:19,600 --> 00:44:21,759
Speaker 2: But if you're going to spend eighty thousand dollars on

835
00:44:21,840 --> 00:44:24,040
Speaker 2: a car, by the time you drive it off the lot,

836
00:44:24,040 --> 00:44:27,359
Speaker 2: it's only worth forty exactly, okay, So you might as

837
00:44:27,360 --> 00:44:29,480
Speaker 2: well take forty thousand and just blow it right out

838
00:44:29,560 --> 00:44:33,799
Speaker 2: the window. To begin with, depreciating assets, where we put

839
00:44:33,840 --> 00:44:38,000
Speaker 2: our capital in clothes, in cars and stuff like that

840
00:44:38,520 --> 00:44:40,680
Speaker 2: is not the way to go. We need to be

841
00:44:40,719 --> 00:44:44,960
Speaker 2: putting our money into appreciating assets because you can really

842
00:44:45,360 --> 00:44:49,359
Speaker 2: set up your own investment by buying appreciating assets and

843
00:44:49,400 --> 00:44:52,799
Speaker 2: control how much they grow about what you sew it

844
00:44:52,840 --> 00:44:56,080
Speaker 2: into and it still becomes a part of your portfolio.

845
00:44:56,600 --> 00:45:00,480
Speaker 1: No, that's exactly what I did. So I bought some

846
00:45:00,480 --> 00:45:04,000
Speaker 1: some appreciating assets. I don't believe in buying new cars.

847
00:45:05,320 --> 00:45:08,600
Speaker 1: I believe that that is a complete waste of money, right,

848
00:45:08,640 --> 00:45:11,279
Speaker 1: and so my thing is it has to be at

849
00:45:11,360 --> 00:45:13,960
Speaker 1: least two to three years old for me. And so

850
00:45:14,920 --> 00:45:17,879
Speaker 1: what I did is I made an investment, and all

851
00:45:17,920 --> 00:45:20,080
Speaker 1: of the earnings to that investment, I went and bought

852
00:45:20,120 --> 00:45:22,279
Speaker 1: my dream car. And my dream car is a big boy.

853
00:45:22,320 --> 00:45:24,520
Speaker 1: It was about three hundred thousand dollars. But I didn't

854
00:45:24,560 --> 00:45:27,719
Speaker 1: spend it. My assets bought it for me. So I

855
00:45:27,760 --> 00:45:31,919
Speaker 1: allowed my assets to buy a liability and I bought

856
00:45:31,920 --> 00:45:34,200
Speaker 1: it at a good rate. But you're absolutely right. Still,

857
00:45:34,200 --> 00:45:37,359
Speaker 1: when I drove that off the car, it's still depreciated, right,

858
00:45:38,000 --> 00:45:41,919
Speaker 1: But it wasn't from my harder me exchanging time for it,

859
00:45:42,239 --> 00:45:44,920
Speaker 1: and I didn't borrow for it. But at the same time, though,

860
00:45:45,120 --> 00:45:48,719
Speaker 1: I think that if people are getting strategic, and if

861
00:45:48,760 --> 00:45:51,480
Speaker 1: we're really sitting down and saying, okay, but this is

862
00:45:51,480 --> 00:45:56,000
Speaker 1: what I can afford, I would the debt is not

863
00:45:56,280 --> 00:45:59,160
Speaker 1: really the problem for me. Here's the problem for me, Bishop,

864
00:45:59,320 --> 00:46:02,799
Speaker 1: is the interest that we pay on the debt. That's

865
00:46:02,920 --> 00:46:06,840
Speaker 1: where I'm I'm like, I don't. I just feel weird

866
00:46:07,400 --> 00:46:09,759
Speaker 1: because when we really study it, people are paying the

867
00:46:09,800 --> 00:46:12,400
Speaker 1: bare minimum. They're not going into it with a strategy

868
00:46:12,440 --> 00:46:14,480
Speaker 1: or okay, wait, am I going to get out of

869
00:46:14,520 --> 00:46:16,440
Speaker 1: this quicker? Or am I just going to sit here

870
00:46:16,440 --> 00:46:18,600
Speaker 1: and just pay the minimum? If you look at it,

871
00:46:18,680 --> 00:46:20,759
Speaker 1: eighty eight percent of the people who carry a credit

872
00:46:20,840 --> 00:46:23,399
Speaker 1: card balance pays the bare minimum every single month. Yeah,

873
00:46:23,560 --> 00:46:27,080
Speaker 1: right right? So no, But at the same time, no, Bishop,

874
00:46:27,160 --> 00:46:28,759
Speaker 1: I mean, have I said this publicly before? I'm gonna

875
00:46:28,760 --> 00:46:31,520
Speaker 1: say on your show. I have a business credit card,

876
00:46:32,400 --> 00:46:35,120
Speaker 1: but I pay it off every single week because I

877
00:46:35,200 --> 00:46:39,000
Speaker 1: do not want to pay interest on that money. That's

878
00:46:39,000 --> 00:46:39,840
Speaker 1: just real my strategy.

879
00:46:40,080 --> 00:46:41,600
Speaker 2: I get it, I get it. I get it.

880
00:46:41,840 --> 00:46:43,640
Speaker 1: So were I think we're like eighty percent there?

881
00:46:43,680 --> 00:46:51,799
Speaker 2: But you can write about it later. Chapter five, Inflation

882
00:46:52,120 --> 00:46:56,440
Speaker 2: and interest rates. Where do you think about the increase

883
00:46:56,600 --> 00:47:00,520
Speaker 2: in inflation and the lowering of the interest rates And

884
00:47:00,560 --> 00:47:04,200
Speaker 2: do you think it's going to help to right size

885
00:47:04,560 --> 00:47:06,240
Speaker 2: the economy of the country.

886
00:47:06,760 --> 00:47:08,520
Speaker 1: Bitch? Right now, I want to see it a little

887
00:47:08,560 --> 00:47:11,319
Speaker 1: bit more because when we see the lowering of the

888
00:47:11,360 --> 00:47:13,360
Speaker 1: interest rates from the fees, and what we're also seeing

889
00:47:13,440 --> 00:47:15,440
Speaker 1: is that we're seeing a lot of people without jobs

890
00:47:16,280 --> 00:47:19,840
Speaker 1: right right, And so for me it is a little

891
00:47:19,840 --> 00:47:23,319
Speaker 1: concerning because if we don't get those jobs back, then

892
00:47:23,320 --> 00:47:27,160
Speaker 1: we're going to have even bigger issue. And so when

893
00:47:27,160 --> 00:47:29,439
Speaker 1: people are getting excited, okay, interust rates are coming down, Yeah,

894
00:47:29,440 --> 00:47:32,120
Speaker 1: it's coming down because we're seeing that. We just we're

895
00:47:32,120 --> 00:47:35,840
Speaker 1: seeing a massive amount of jobs being laid off. I

896
00:47:35,840 --> 00:47:38,360
Speaker 1: think a lot that is coming into place because of AI,

897
00:47:38,680 --> 00:47:41,440
Speaker 1: because of some other things that surrounding that. And so

898
00:47:41,680 --> 00:47:43,680
Speaker 1: for me, I'm studying it a little bit more because

899
00:47:43,719 --> 00:47:45,560
Speaker 1: I want to figure out how we're going to balance this.

900
00:47:45,719 --> 00:47:47,839
Speaker 1: I want the interest rates to come down, but I

901
00:47:47,920 --> 00:47:50,840
Speaker 1: do not want to see jobs coming down as well.

902
00:47:51,000 --> 00:47:53,240
Speaker 2: I don't want to see jobs coming down, and I

903
00:47:53,280 --> 00:47:55,080
Speaker 2: don't want to see it. I love to see the

904
00:47:55,120 --> 00:47:58,319
Speaker 2: interest rates come down, but not at the expense of

905
00:47:58,360 --> 00:47:59,399
Speaker 2: the property going up.

906
00:47:59,520 --> 00:48:01,000
Speaker 1: There it is bishop because.

907
00:48:00,760 --> 00:48:03,320
Speaker 2: Generally when the interest rates go down, the property value

908
00:48:03,360 --> 00:48:06,560
Speaker 2: that go up, yes, and so it washes out and

909
00:48:06,600 --> 00:48:08,200
Speaker 2: at the end of the day, and so you have

910
00:48:08,280 --> 00:48:09,600
Speaker 2: to be very careful about that.

911
00:48:09,960 --> 00:48:12,480
Speaker 1: And I believe home ownership and real estate is important

912
00:48:12,480 --> 00:48:15,080
Speaker 1: in today's day time. Absolutely, I think that that is

913
00:48:15,080 --> 00:48:18,200
Speaker 1: one of the key ingredients to really building wealth because

914
00:48:18,280 --> 00:48:20,160
Speaker 1: you know, we all know this. McDonald's doesn't make their

915
00:48:20,200 --> 00:48:22,879
Speaker 1: money because of burgers, is because of real estate. Absolutely.

916
00:48:23,040 --> 00:48:25,720
Speaker 1: So it's like I think for us, if the prices

917
00:48:25,760 --> 00:48:28,640
Speaker 1: go up, like you said, but the interest rates come down,

918
00:48:28,760 --> 00:48:31,320
Speaker 1: now we're spending more money for the house, it washes

919
00:48:31,360 --> 00:48:33,760
Speaker 1: out because we're just paying lower interests on a higher house.

920
00:48:34,480 --> 00:48:37,120
Speaker 1: And then watch it though, if the prices come down

921
00:48:37,560 --> 00:48:42,040
Speaker 1: that houses go up, but I don't have a job now,

922
00:48:42,160 --> 00:48:48,239
Speaker 1: I'm struggling to maintain that house. And so and it's

923
00:48:48,239 --> 00:48:53,280
Speaker 1: not even just jobs coming down, Bishop, entrepreneurs are coming

924
00:48:53,320 --> 00:48:57,520
Speaker 1: down because the market is just shifting and we're not producing.

925
00:48:57,560 --> 00:49:02,000
Speaker 1: It's enough entrepreneurs. So I I'm really studying it because

926
00:49:02,040 --> 00:49:04,600
Speaker 1: I want to figure out what where are we going

927
00:49:04,640 --> 00:49:06,960
Speaker 1: to go? How are we going to even out, and

928
00:49:07,040 --> 00:49:09,280
Speaker 1: how do I educate from here moving forward?

929
00:49:09,320 --> 00:49:11,799
Speaker 2: You know, we have good so a form for entrepreneurs

930
00:49:11,840 --> 00:49:15,280
Speaker 2: where we train them and entrepreneurs that's such a big,

931
00:49:15,880 --> 00:49:20,160
Speaker 2: big phrase, Yes, sir, it covers everything from the barbershop

932
00:49:20,239 --> 00:49:23,520
Speaker 2: to the beauty shop to the tech person. It can

933
00:49:23,560 --> 00:49:26,440
Speaker 2: go anywhere to the plumbing business. It can go anywhere

934
00:49:26,560 --> 00:49:29,880
Speaker 2: depending on what type of entrepreneur and what type of

935
00:49:29,920 --> 00:49:34,040
Speaker 2: capital you have, and what you invest in and how

936
00:49:34,120 --> 00:49:37,279
Speaker 2: much your payroll is. Because a lot of times your

937
00:49:37,320 --> 00:49:40,959
Speaker 2: business philosophy that you work at home is the same

938
00:49:41,000 --> 00:49:43,800
Speaker 2: philosophy that you work in your business, yes, sir, because

939
00:49:43,840 --> 00:49:45,600
Speaker 2: all of it is coming out of the same brain.

940
00:49:46,400 --> 00:49:49,200
Speaker 2: So if you don't get your home straight and your

941
00:49:49,200 --> 00:49:52,000
Speaker 2: finances straight at home, what you learn at home, you

942
00:49:52,040 --> 00:49:54,839
Speaker 2: can transfer that over to your business, or don't learn

943
00:49:55,160 --> 00:49:58,480
Speaker 2: you transferred over to your It's almost like COVID, Yes sir,

944
00:49:59,200 --> 00:50:01,120
Speaker 2: you can catch it, yes sir, Yes sir.

945
00:50:01,200 --> 00:50:06,080
Speaker 1: Okay, yes sir, poverty, get your home right, whatever, like

946
00:50:06,120 --> 00:50:08,480
Speaker 1: you said, it transfer them to the business. So if

947
00:50:08,520 --> 00:50:10,480
Speaker 1: you're not budgeting at home, you're not gonna know how

948
00:50:10,480 --> 00:50:15,000
Speaker 1: to budget in your business. If you're not investing personally,

949
00:50:15,120 --> 00:50:17,040
Speaker 1: you're not gonna know how to strategically invest in your

950
00:50:17,080 --> 00:50:19,640
Speaker 1: business to expand it and to take it to the

951
00:50:19,680 --> 00:50:25,120
Speaker 1: next level. So I'm very big on practicing both, which

952
00:50:25,160 --> 00:50:27,120
Speaker 1: I'm also seeing a lot of people care more about

953
00:50:27,120 --> 00:50:29,160
Speaker 1: their prison's life than they care about their personal life.

954
00:50:29,160 --> 00:50:30,840
Speaker 1: And am not both of them are just as equal.

955
00:50:30,960 --> 00:50:33,600
Speaker 2: Yeah yeah, yeah, one of them affects the other one.

956
00:50:33,719 --> 00:50:34,080
Speaker 1: Yes, sir.

957
00:50:34,320 --> 00:50:37,239
Speaker 2: When you start talking about jobs, what's going to be

958
00:50:37,360 --> 00:50:41,200
Speaker 2: left in five years? Okay? When they say eighty million

959
00:50:41,280 --> 00:50:43,880
Speaker 2: jobs are going to be taken away by eight, AI,

960
00:50:44,000 --> 00:50:46,920
Speaker 2: I think seventy million and eighty million new jobs are

961
00:50:46,920 --> 00:50:48,560
Speaker 2: going to be added on. But you have to be

962
00:50:48,640 --> 00:50:51,520
Speaker 2: qualified to get that eighty million new jobs. A lot

963
00:50:51,560 --> 00:50:56,000
Speaker 2: of our people because one of the reasons we got COVID,

964
00:50:56,040 --> 00:50:59,239
Speaker 2: in my opinion, for first ahead of other people is

965
00:50:59,320 --> 00:51:02,919
Speaker 2: because we have a lot of public facing positions. Yes, sir,

966
00:51:03,040 --> 00:51:07,080
Speaker 2: public facing positions are going first. Yes, okay, they're going

967
00:51:07,200 --> 00:51:11,279
Speaker 2: fast and they're going first. So those people who lose

968
00:51:11,360 --> 00:51:16,440
Speaker 2: their jobs, how do they transfer that situation into some

969
00:51:16,600 --> 00:51:18,640
Speaker 2: sort of capital that sustains them.

970
00:51:19,080 --> 00:51:23,319
Speaker 1: I'm telling everyone right now, if you're not AI is

971
00:51:23,360 --> 00:51:26,360
Speaker 1: not going to take your job. AI is going to

972
00:51:26,400 --> 00:51:27,759
Speaker 1: take your job if you don't know how to use

973
00:51:27,800 --> 00:51:31,799
Speaker 1: it right. So it's eight we're going to lose eighty

974
00:51:31,800 --> 00:51:33,759
Speaker 1: million for we're going to gain eighty million. That eighty

975
00:51:33,800 --> 00:51:36,160
Speaker 1: million is going to be the people who've learned AI

976
00:51:36,560 --> 00:51:38,799
Speaker 1: right and so I think, for me, how do you

977
00:51:38,920 --> 00:51:41,080
Speaker 1: use it right now? Jump into boot camps? And I

978
00:51:41,120 --> 00:51:46,640
Speaker 1: say this as a professor. I even think now, probably

979
00:51:46,719 --> 00:51:49,479
Speaker 1: about sixty percent of the people who are thinking about

980
00:51:49,520 --> 00:51:52,560
Speaker 1: going to a traditional four year university probably doesn't need

981
00:51:52,600 --> 00:51:54,120
Speaker 1: to go to it. Go to a boot camp, go

982
00:51:54,160 --> 00:51:56,640
Speaker 1: to a trade school, go to an AI school, learn

983
00:51:56,680 --> 00:52:01,040
Speaker 1: a specific skill, get a certificate. Now, of course, there

984
00:52:01,040 --> 00:52:07,160
Speaker 1: are still I think a huge importance for a traditional school, doctor, lawyer, attorney,

985
00:52:07,400 --> 00:52:10,760
Speaker 1: I even sometimes from a seminary perspective, to get the education.

986
00:52:11,160 --> 00:52:12,920
Speaker 1: But if you're saying I want to go to a

987
00:52:12,920 --> 00:52:15,960
Speaker 1: four year universe, just get the best job, I need

988
00:52:16,000 --> 00:52:18,360
Speaker 1: you to step back and be strategic with that, because

989
00:52:18,440 --> 00:52:21,040
Speaker 1: there are boot camps out right now Bishop that I

990
00:52:21,120 --> 00:52:24,680
Speaker 1: know of one right now that's five hundred dollars. You're

991
00:52:24,719 --> 00:52:28,560
Speaker 1: there for maybe sixteen weeks. They're teaching you AI. Automation

992
00:52:29,640 --> 00:52:33,160
Speaker 1: companies right now, like a Google, like an Apple, they're

993
00:52:33,200 --> 00:52:36,960
Speaker 1: paying people to come into to make their systems better

994
00:52:37,120 --> 00:52:40,040
Speaker 1: and make it automatic. And they're paying these individuals one

995
00:52:40,080 --> 00:52:44,440
Speaker 1: hundred thousand dollars from a sixteen week boot camp that

996
00:52:44,520 --> 00:52:47,200
Speaker 1: costs five hundred dollars. So I spent five hundred dollars

997
00:52:47,239 --> 00:52:49,600
Speaker 1: I got a six figure job. That's a great ROI

998
00:52:49,719 --> 00:52:52,719
Speaker 1: on my time, money and investment. And so I think

999
00:52:52,760 --> 00:52:54,719
Speaker 1: in the next two to five years, if we're not

1000
00:52:54,960 --> 00:52:59,399
Speaker 1: utilizing and learning everything that's coming in the near future, yes,

1001
00:52:59,480 --> 00:53:01,520
Speaker 1: we will be of a job. Which is why I'm

1002
00:53:01,520 --> 00:53:04,799
Speaker 1: telling everyone go learn even while you're only a nine

1003
00:53:04,800 --> 00:53:07,920
Speaker 1: to five job. Now, go get a certificate, go to

1004
00:53:08,000 --> 00:53:11,120
Speaker 1: a boot camp, get to learn the trade, and I

1005
00:53:11,200 --> 00:53:12,319
Speaker 1: promise you your job will be oka.

1006
00:53:12,480 --> 00:53:14,560
Speaker 2: There was an article came out about a year ago

1007
00:53:14,600 --> 00:53:17,440
Speaker 2: where Tyler Perry decided that he wasn't going to build

1008
00:53:17,800 --> 00:53:21,520
Speaker 2: any more studios because technology had changed the game so

1009
00:53:21,560 --> 00:53:25,120
Speaker 2: that making movies no longer required the amount of staff

1010
00:53:25,160 --> 00:53:27,600
Speaker 2: that you needed to have in order to maintain business.

1011
00:53:28,040 --> 00:53:32,480
Speaker 2: As technology increases, now not only does it affect entertainment,

1012
00:53:32,880 --> 00:53:36,040
Speaker 2: it also affects medicine. Yes, sir, you know, I just

1013
00:53:36,120 --> 00:53:39,399
Speaker 2: had a massive heart attack a year ago, and they

1014
00:53:39,400 --> 00:53:41,560
Speaker 2: did the whole surgery through my risk.

1015
00:53:41,760 --> 00:53:42,880
Speaker 1: That's just crazy.

1016
00:53:43,000 --> 00:53:46,240
Speaker 2: The entire surgery through my risk. While I was awake,

1017
00:53:46,680 --> 00:53:51,080
Speaker 2: You were awake. I was awake the whole time. So

1018
00:53:51,120 --> 00:53:53,680
Speaker 2: there I am listening at them talking about what they're

1019
00:53:53,719 --> 00:53:57,839
Speaker 2: doing and how they're piercing the ventricle between my right

1020
00:53:58,640 --> 00:54:00,839
Speaker 2: my right side of my heart to my left side

1021
00:54:00,840 --> 00:54:03,640
Speaker 2: of the heart, and I'm wide away and they're running

1022
00:54:03,640 --> 00:54:10,120
Speaker 2: it up and my surgeon is operating a computer, and

1023
00:54:10,200 --> 00:54:11,080
Speaker 2: I'm glad about it.

1024
00:54:12,719 --> 00:54:16,280
Speaker 1: I'm glad about it. I'm glad you have to open

1025
00:54:16,320 --> 00:54:16,640
Speaker 1: you up.

1026
00:54:16,640 --> 00:54:19,000
Speaker 2: But I'm like, man, I'm glad about it because I'm

1027
00:54:19,040 --> 00:54:21,760
Speaker 2: still sitting here today. Yes, sir, I left the hospital

1028
00:54:21,760 --> 00:54:24,880
Speaker 2: in three days with the mandate over my over my wrist.

1029
00:54:25,320 --> 00:54:27,800
Speaker 2: You can't even see where it was. Well, sir, it's gone.

1030
00:54:27,880 --> 00:54:31,520
Speaker 2: It's completely gone. So technology can be a blessing. On

1031
00:54:31,560 --> 00:54:35,480
Speaker 2: the other hand, technology can can blow up our grids,

1032
00:54:36,680 --> 00:54:40,279
Speaker 2: shut down our airports, cause our planes to fall.

1033
00:54:40,520 --> 00:54:43,160
Speaker 1: We've seen it, and I'm concerned.

1034
00:54:43,560 --> 00:54:47,360
Speaker 2: Are our laws going to catch up with the technology

1035
00:54:47,640 --> 00:54:50,080
Speaker 2: and are there going to be any restrictions or are

1036
00:54:50,080 --> 00:54:52,920
Speaker 2: we so busy being in a race with other countries

1037
00:54:52,960 --> 00:54:58,520
Speaker 2: to be first that we outgrow our guard rails and

1038
00:54:58,600 --> 00:54:59,560
Speaker 2: go over the cliff.

1039
00:55:00,400 --> 00:55:03,200
Speaker 1: That is something that I have been thinking about, Bishop,

1040
00:55:03,200 --> 00:55:05,080
Speaker 1: and I have not done a lot of research in

1041
00:55:05,120 --> 00:55:07,960
Speaker 1: that because I see us trying to be first. But

1042
00:55:08,080 --> 00:55:10,759
Speaker 1: I'm seeing I was in the airport I think it

1043
00:55:10,840 --> 00:55:14,840
Speaker 1: was about three months ago and something happened to where

1044
00:55:15,000 --> 00:55:18,279
Speaker 1: this particular airline everything shut down and we was in

1045
00:55:18,280 --> 00:55:24,120
Speaker 1: the airport for sixteen hours, sixteen hours because of computer

1046
00:55:24,239 --> 00:55:29,040
Speaker 1: software that just went out, And I'm like, okay, wait,

1047
00:55:29,880 --> 00:55:34,279
Speaker 1: this is about to be our future, and are we

1048
00:55:34,320 --> 00:55:37,320
Speaker 1: going to have anything to protect us from this happening again?

1049
00:55:37,400 --> 00:55:39,920
Speaker 1: Because if I'm not mistaken, the article came out that

1050
00:55:40,000 --> 00:55:44,320
Speaker 1: someone kind of hacked the machine and I'm like, wait, wait, wait,

1051
00:55:44,480 --> 00:55:47,800
Speaker 1: so are we building up guardrails for this amazing software

1052
00:55:47,800 --> 00:55:49,520
Speaker 1: that we have. It's amazing tool that we have, but

1053
00:55:49,560 --> 00:55:51,400
Speaker 1: are we building up something that's going to protect us

1054
00:55:51,400 --> 00:55:53,839
Speaker 1: from this future? And I would love to see us

1055
00:55:53,840 --> 00:55:55,600
Speaker 1: do that, But I also still want us to be first.

1056
00:55:55,640 --> 00:55:58,000
Speaker 2: Bishop, you want us to be pres Oh yeah, I

1057
00:55:58,000 --> 00:56:00,200
Speaker 2: do want us to be first. I think I think

1058
00:56:00,200 --> 00:56:03,800
Speaker 2: I want us to be first in a particular area.

1059
00:56:03,880 --> 00:56:05,680
Speaker 1: What area is that, I don't know.

1060
00:56:05,960 --> 00:56:08,439
Speaker 2: Because there are so many different areas that you can

1061
00:56:08,480 --> 00:56:12,680
Speaker 2: take that you can't be first in all of them. Okay,

1062
00:56:12,719 --> 00:56:15,040
Speaker 2: So you have to decide if it's going to be medical,

1063
00:56:15,120 --> 00:56:17,080
Speaker 2: if it's going to be engineering, if it's going to

1064
00:56:17,120 --> 00:56:20,920
Speaker 2: be automobiles, if it's going to be self propelled cars.

1065
00:56:21,360 --> 00:56:24,919
Speaker 2: You can't be first at everything, yes, like you can't

1066
00:56:24,960 --> 00:56:28,120
Speaker 2: be good at everything. We need to be specialized in

1067
00:56:28,160 --> 00:56:32,440
Speaker 2: a particular area. Build some guardrails around what you can

1068
00:56:32,480 --> 00:56:35,040
Speaker 2: and cannot do in our country in that area. That's

1069
00:56:35,120 --> 00:56:37,160
Speaker 2: just my opinion. Nobody cares about it, so I might

1070
00:56:37,200 --> 00:56:40,640
Speaker 2: as well put it out there. But you're not going

1071
00:56:40,719 --> 00:56:44,480
Speaker 2: to be first in everything because if I'm if I'm

1072
00:56:44,600 --> 00:56:48,120
Speaker 2: racing you and all I'm doing is watching your feet,

1073
00:56:48,440 --> 00:56:49,480
Speaker 2: You're gonna outrun me.

1074
00:56:49,719 --> 00:56:50,160
Speaker 1: For sure.

1075
00:56:50,560 --> 00:56:53,040
Speaker 2: Yes, I've got to be sure that I am in

1076
00:56:53,160 --> 00:56:56,560
Speaker 2: my lane doing what I'm good at doing for a

1077
00:56:56,600 --> 00:57:01,640
Speaker 2: particular purpose, to accelerate the economy and the well being

1078
00:57:01,680 --> 00:57:05,799
Speaker 2: and the job creation for our people, irrespective of race, creed,

1079
00:57:05,880 --> 00:57:06,280
Speaker 2: or color.

1080
00:57:07,160 --> 00:57:11,319
Speaker 1: If I was to comment on that, Bishop, I would say,

1081
00:57:11,400 --> 00:57:15,840
Speaker 1: then if we're going to be first and anything, I

1082
00:57:15,880 --> 00:57:17,960
Speaker 1: will go back to I wanted to be first in

1083
00:57:18,080 --> 00:57:22,480
Speaker 1: health because if we're healthier, then I believe we can

1084
00:57:22,520 --> 00:57:25,640
Speaker 1: build more wealth, and it gives us more time to

1085
00:57:25,840 --> 00:57:29,080
Speaker 1: build more income to leave behind for our kids. I

1086
00:57:29,120 --> 00:57:33,320
Speaker 1: don't care about automobiles. I don't care about even technical. Well,

1087
00:57:33,360 --> 00:57:35,800
Speaker 1: we need technology to save us. But the technology you

1088
00:57:35,960 --> 00:57:38,040
Speaker 1: just had. But I would love for us to see

1089
00:57:38,120 --> 00:57:39,600
Speaker 1: that when it comes to AI.

1090
00:57:39,600 --> 00:57:43,919
Speaker 2: That's telling that's still healthful. Yes, that's still help Six

1091
00:57:44,920 --> 00:57:49,720
Speaker 2: Top five money mistakes. When you think about it, what

1092
00:57:49,800 --> 00:57:53,640
Speaker 2: are the top five money mistakes that you think we

1093
00:57:53,640 --> 00:57:58,640
Speaker 2: should avoid in order to be salient? Because not everybody's

1094
00:57:58,680 --> 00:58:02,000
Speaker 2: following our conversation? Yes, you know we left them alone.

1095
00:58:02,080 --> 00:58:02,560
Speaker 1: Now you know.

1096
00:58:04,440 --> 00:58:08,160
Speaker 2: Not everybody is there. Yes, if I'm a ground level

1097
00:58:08,320 --> 00:58:11,720
Speaker 2: everage person making seventy thousand dollars a year, sixty thousand

1098
00:58:11,720 --> 00:58:15,200
Speaker 2: dollars a year, what are the top five money mistakes

1099
00:58:15,200 --> 00:58:16,960
Speaker 2: that I should be working.

1100
00:58:16,720 --> 00:58:18,600
Speaker 1: On right now? I think the very first moment say that.

1101
00:58:18,600 --> 00:58:21,200
Speaker 1: I think a lot of people have, well do not do?

1102
00:58:21,360 --> 00:58:21,520
Speaker 2: Is they?

1103
00:58:21,680 --> 00:58:24,240
Speaker 1: Number one? They don't have a money vision? You know,

1104
00:58:24,320 --> 00:58:26,520
Speaker 1: as far as in Okay, where do I want to go?

1105
00:58:27,000 --> 00:58:28,920
Speaker 1: Where do I want to aim? And how am I

1106
00:58:28,960 --> 00:58:32,040
Speaker 1: going to get there? I have a lot of couples

1107
00:58:32,080 --> 00:58:34,320
Speaker 1: come to me with money arguments, and what I find

1108
00:58:34,360 --> 00:58:36,680
Speaker 1: bishop is that you're arguing over money because you all

1109
00:58:36,760 --> 00:58:39,720
Speaker 1: never sat down and had an agreed upon a vision

1110
00:58:40,120 --> 00:58:41,960
Speaker 1: and a goal. So I think that's one of the

1111
00:58:41,960 --> 00:58:44,840
Speaker 1: first mistakes, whether you're married or single, you got to

1112
00:58:44,960 --> 00:58:47,960
Speaker 1: have a clear vision. Number two followed by the vision

1113
00:58:48,040 --> 00:58:49,800
Speaker 1: is you got to have a budget. You need to

1114
00:58:49,840 --> 00:58:53,520
Speaker 1: know exactly every single thing that's going on with your money.

1115
00:58:55,080 --> 00:58:57,439
Speaker 1: I was sitting down in the room with a very

1116
00:58:57,560 --> 00:59:00,800
Speaker 1: very very wealthy guy and he askally, Anthony, what was

1117
00:59:00,800 --> 00:59:02,440
Speaker 1: the last thing you spent your money on? And I

1118
00:59:02,440 --> 00:59:05,160
Speaker 1: had to guess at at Bishop, Well, this guy makes

1119
00:59:05,560 --> 00:59:07,600
Speaker 1: crazy money. He said, yeah, I spent a dollar and

1120
00:59:07,600 --> 00:59:11,120
Speaker 1: fifty two cents here, spent three dollars there. He knew

1121
00:59:11,160 --> 00:59:15,240
Speaker 1: exactly where he spent his money. Here, I am, I'm

1122
00:59:15,320 --> 00:59:17,360
Speaker 1: worth what I make in the year he makes in

1123
00:59:17,400 --> 00:59:20,600
Speaker 1: the week. And I couldn't tell him where my money

1124
00:59:20,640 --> 00:59:22,320
Speaker 1: was going. He could. He could tell me where his

1125
00:59:22,360 --> 00:59:24,960
Speaker 1: money was going. And I felt so convicted by that,

1126
00:59:25,080 --> 00:59:27,400
Speaker 1: And that's when I started budgeting in my late twenties

1127
00:59:27,440 --> 00:59:31,720
Speaker 1: early thirties. So that's number two. Number three, started investing

1128
00:59:32,400 --> 00:59:35,440
Speaker 1: as early as you can. The studies are showing that

1129
00:59:35,600 --> 00:59:38,160
Speaker 1: averagely on average, This is one of reasons why Bishop,

1130
00:59:38,320 --> 00:59:41,880
Speaker 1: I'm a huge fan of not having consumer debt, because

1131
00:59:41,920 --> 00:59:45,120
Speaker 1: study shows that when you are in consumer debt, the

1132
00:59:45,200 --> 00:59:47,880
Speaker 1: average person's only investing in between two to four percent

1133
00:59:47,920 --> 00:59:51,360
Speaker 1: of their income. And so my philosophy is like, hey,

1134
00:59:51,560 --> 00:59:54,480
Speaker 1: one of the biggest mistakes you're making is not investing

1135
00:59:54,880 --> 00:59:57,880
Speaker 1: as early as you possibly can, because now you're missing out.

1136
00:59:57,880 --> 00:59:59,480
Speaker 1: To say, for an example, if you have a job,

1137
01:00:00,080 --> 01:00:02,800
Speaker 1: offer you a raw four one K with a match,

1138
01:00:02,880 --> 01:00:05,120
Speaker 1: now you're missing out of free money, right, And so

1139
01:00:05,320 --> 01:00:07,360
Speaker 1: I don't want you to miss out on free money.

1140
01:00:07,680 --> 01:00:09,840
Speaker 1: And so I think that's when you said five, how

1141
01:00:09,880 --> 01:00:12,120
Speaker 1: many was that? Four? That was four? Three?

1142
01:00:12,160 --> 01:00:12,360
Speaker 3: Four?

1143
01:00:13,280 --> 01:00:17,800
Speaker 1: There was three? Okay, then number four is not teaching

1144
01:00:17,880 --> 01:00:21,840
Speaker 1: your kids about money early on? And when I say

1145
01:00:21,880 --> 01:00:24,720
Speaker 1: early on, I'm talking about when they're four or five

1146
01:00:24,800 --> 01:00:26,640
Speaker 1: years old. One of my good friends, she is a

1147
01:00:26,640 --> 01:00:31,960
Speaker 1: school teacher and she's in the elementary school, bishop and first, second,

1148
01:00:31,960 --> 01:00:34,800
Speaker 1: and third grade. She takes them on a college tour

1149
01:00:35,160 --> 01:00:38,560
Speaker 1: in the third grade. Well, the parents are why are

1150
01:00:38,560 --> 01:00:40,360
Speaker 1: you doing that? They don't know what it is, she said, No,

1151
01:00:40,400 --> 01:00:43,280
Speaker 1: I'm exposing them because more is caught than what it's

1152
01:00:43,280 --> 01:00:46,200
Speaker 1: actually taught. So now they'll understand. Wait a minute, I

1153
01:00:46,240 --> 01:00:47,880
Speaker 1: want to go to that big school. How do I

1154
01:00:47,960 --> 01:00:50,000
Speaker 1: go to that big school? Because the image is there,

1155
01:00:50,440 --> 01:00:53,080
Speaker 1: So now as they're going older and getting to the

1156
01:00:53,120 --> 01:00:56,520
Speaker 1: next grade. Now they're mental is I have to get

1157
01:00:56,520 --> 01:00:59,200
Speaker 1: good grades because I want to go to that big school.

1158
01:00:59,600 --> 01:01:01,920
Speaker 1: So my philosophy is one of the biggest mistake is

1159
01:01:01,960 --> 01:01:05,480
Speaker 1: we don't have a conversation with our young generation early.

1160
01:01:05,720 --> 01:01:08,400
Speaker 1: It may go over their head, but it starts a question.

1161
01:01:08,480 --> 01:01:11,880
Speaker 1: It starts a conversation. Then the fifth one is really

1162
01:01:11,920 --> 01:01:15,680
Speaker 1: just sitting down and just asking yourself, Bishop, what am

1163
01:01:15,680 --> 01:01:18,800
Speaker 1: I doing? Where am I going? And when I say

1164
01:01:18,840 --> 01:01:22,600
Speaker 1: that question, it is literally what is the strategy. One

1165
01:01:22,640 --> 01:01:25,080
Speaker 1: of the biggest mistakes I see people make is we

1166
01:01:25,200 --> 01:01:28,040
Speaker 1: do not sit down with someone and say this is

1167
01:01:28,040 --> 01:01:30,840
Speaker 1: how much I'm making, this is where I want to go,

1168
01:01:31,520 --> 01:01:33,919
Speaker 1: what do I need to put in place to get there?

1169
01:01:34,480 --> 01:01:37,800
Speaker 1: We guess we'll get on TikTok, we'll get on YouTube,

1170
01:01:38,000 --> 01:01:40,240
Speaker 1: but we won't sit down and get the actual wisdom

1171
01:01:40,320 --> 01:01:43,200
Speaker 1: from a professional to give us a plan to follow.

1172
01:01:43,600 --> 01:01:45,920
Speaker 1: And what I've learned is that if you can just

1173
01:01:46,000 --> 01:01:49,680
Speaker 1: honestly get a solid plan that is tailored for you

1174
01:01:49,920 --> 01:01:53,680
Speaker 1: and for your home, it is easier to build something

1175
01:01:53,720 --> 01:01:55,640
Speaker 1: successful rather than just going on with TikTok.

1176
01:01:56,880 --> 01:02:00,400
Speaker 2: Let me say this, for example, in my own life.

1177
01:02:00,080 --> 01:02:05,200
Speaker 2: If I can scarcely remember when I wasn't working. I've

1178
01:02:05,240 --> 01:02:08,040
Speaker 2: been working almost all my life, whether it was cutting

1179
01:02:08,080 --> 01:02:11,600
Speaker 2: grass or passing papers or helping my father sell fish,

1180
01:02:12,560 --> 01:02:14,920
Speaker 2: I've been working all my life. So when I was

1181
01:02:14,920 --> 01:02:18,960
Speaker 2: about eight years old, my mother who we walked to

1182
01:02:19,000 --> 01:02:20,520
Speaker 2: the top of the street and caught the bus and

1183
01:02:20,640 --> 01:02:25,240
Speaker 2: went downtown to Canall Valley Bank. And I can't remember

1184
01:02:25,280 --> 01:02:27,920
Speaker 2: for sure whether it was my birthday or Christmas, she

1185
01:02:28,040 --> 01:02:31,600
Speaker 2: got me a past book savings account for my birthday.

1186
01:02:31,760 --> 01:02:33,480
Speaker 1: Wow, okay, yes, sir.

1187
01:02:33,920 --> 01:02:38,160
Speaker 2: It wasn't a very sexy toy, and I couldn't take

1188
01:02:38,160 --> 01:02:40,000
Speaker 2: it to school and brag about it, and it didn't

1189
01:02:40,000 --> 01:02:43,680
Speaker 2: make any sense, but it did start a mindset in

1190
01:02:43,800 --> 01:02:46,840
Speaker 2: my head, sir, that if you're going to work and

1191
01:02:46,920 --> 01:02:50,520
Speaker 2: make money, you ought to be putting something away. So

1192
01:02:50,560 --> 01:02:53,120
Speaker 2: by the time I was sixteen, I had built up

1193
01:02:53,120 --> 01:02:56,640
Speaker 2: a substantial amount of money back at that time because

1194
01:02:57,080 --> 01:03:01,120
Speaker 2: she made saving important and she awarded me based on

1195
01:03:01,560 --> 01:03:04,520
Speaker 2: how much. I say, I think that kind of thing,

1196
01:03:05,200 --> 01:03:09,200
Speaker 2: as small as it is, it's important. It's important that

1197
01:03:09,240 --> 01:03:13,480
Speaker 2: we do that. And I would also say that even

1198
01:03:13,520 --> 01:03:16,600
Speaker 2: though you don't know the stock market and you don't

1199
01:03:16,640 --> 01:03:18,840
Speaker 2: know what all those letters mean at the bottom. And

1200
01:03:19,120 --> 01:03:21,880
Speaker 2: you watch some of these financial shows and you can't

1201
01:03:21,960 --> 01:03:25,560
Speaker 2: keep up with what they're doing. Watch them anyway, Watch them, Yeah,

1202
01:03:25,680 --> 01:03:28,880
Speaker 2: watch them anyway. You pick up a phraser two, and

1203
01:03:28,920 --> 01:03:32,160
Speaker 2: then later on you learn what capital gains means. And

1204
01:03:32,200 --> 01:03:35,920
Speaker 2: then you were talking about his state planning. You start

1205
01:03:35,920 --> 01:03:38,720
Speaker 2: thinking about a state planning. You start thinking about a trust.

1206
01:03:39,000 --> 01:03:42,560
Speaker 2: You start to decide whether it's revocable or irrevocable trust,

1207
01:03:42,760 --> 01:03:47,320
Speaker 2: and your knowledge begins to expand by exposure. If you're

1208
01:03:47,360 --> 01:03:50,160
Speaker 2: not exposed to it, you're not going to grow into it.

1209
01:03:50,560 --> 01:03:54,200
Speaker 2: And instead of being exposed to it, we start scrolling

1210
01:03:54,480 --> 01:03:58,040
Speaker 2: on our social media listening at people who don't really

1211
01:03:58,080 --> 01:04:00,479
Speaker 2: know what they're talking about. One person's telling you, don't

1212
01:04:00,520 --> 01:04:06,120
Speaker 2: drink any more carrot juicy, don't drink no water. There's

1213
01:04:06,240 --> 01:04:08,120
Speaker 2: lid in the water. If you drink the water, you're

1214
01:04:08,120 --> 01:04:11,000
Speaker 2: gonna die. Said water. I can't drink water. I can't

1215
01:04:11,040 --> 01:04:14,560
Speaker 2: eat nothing. I can't drink water. And the parasites are

1216
01:04:14,560 --> 01:04:17,160
Speaker 2: coming out of your baking. You know, sometimes they're right,

1217
01:04:17,240 --> 01:04:26,080
Speaker 2: sometimes they're wrong. Finding trusted sources, proven sources. When when

1218
01:04:26,120 --> 01:04:28,720
Speaker 2: you get on the internet, and you start teaching something,

1219
01:04:29,160 --> 01:04:31,440
Speaker 2: you have to ask yourself, what does this person have

1220
01:04:31,560 --> 01:04:35,000
Speaker 2: to show for their for their wisdom? Yes, sir, you

1221
01:04:35,080 --> 01:04:38,400
Speaker 2: know proven wisdom. David. What I love about David when

1222
01:04:38,440 --> 01:04:41,000
Speaker 2: he fought Golive, he would not fight with the weapon

1223
01:04:41,040 --> 01:04:43,880
Speaker 2: that he hadn't used. Yes, sir, Yes, sir, he used

1224
01:04:43,920 --> 01:04:48,160
Speaker 2: proven weapons to bring down giants. If the if you're

1225
01:04:48,200 --> 01:04:52,240
Speaker 2: a giant, your goliath is debt. Yes sir. Okay, you

1226
01:04:52,280 --> 01:04:54,080
Speaker 2: can't kill him with the rag and the rock, but

1227
01:04:54,120 --> 01:04:56,520
Speaker 2: you've got to have a proven weapon if you're going

1228
01:04:56,600 --> 01:04:57,400
Speaker 2: to be successful.

1229
01:04:57,400 --> 01:05:00,520
Speaker 1: Adoring ambition, I'll say this to you, said something earlier.

1230
01:05:00,800 --> 01:05:03,880
Speaker 1: You tell them to watch it. While they're watching it,

1231
01:05:04,320 --> 01:05:06,160
Speaker 1: I want to encourage you to pause and take a

1232
01:05:06,160 --> 01:05:09,920
Speaker 1: screen shot, because you're right, all those words and numbers

1233
01:05:09,960 --> 01:05:13,080
Speaker 1: and graphs and everything's going to seem so confusing. Take

1234
01:05:13,120 --> 01:05:16,480
Speaker 1: a screenshot here he goes. Go back to AI, upload

1235
01:05:16,520 --> 01:05:20,360
Speaker 1: it to AI excellent, and say, hey, look at this

1236
01:05:20,560 --> 01:05:24,000
Speaker 1: and give me the meaning of every small three digit word,

1237
01:05:24,200 --> 01:05:26,640
Speaker 1: every this What does this graph mean? And AI will

1238
01:05:26,680 --> 01:05:30,240
Speaker 1: give it the basic understanding. So now you start growing

1239
01:05:30,320 --> 01:05:34,360
Speaker 1: your knowledge every single day. When you see that information.

1240
01:05:34,400 --> 01:05:37,040
Speaker 2: You know something else. I think is important. If you're

1241
01:05:37,120 --> 01:05:39,800
Speaker 2: focusing a lot of your attention on training young people,

1242
01:05:40,360 --> 01:05:44,520
Speaker 2: please tell them this old age does not mug you.

1243
01:05:45,840 --> 01:05:49,200
Speaker 2: It does not sneak up on you and mug you. Yes, sir,

1244
01:05:49,400 --> 01:05:54,120
Speaker 2: it warns you while it's coming. Okay, so you know

1245
01:05:54,440 --> 01:05:58,320
Speaker 2: inevitably you are not going to be young long, Yes, sir.

1246
01:05:58,720 --> 01:06:02,960
Speaker 2: So they said Benjamin, she'll raving as a wolf in

1247
01:06:03,000 --> 01:06:05,920
Speaker 2: the morning. He should have our the prey. In the evening,

1248
01:06:06,000 --> 01:06:09,840
Speaker 2: he should divide the spoils. So while you're young, divre

1249
01:06:09,920 --> 01:06:12,680
Speaker 2: the prey so that in the evening you can divide

1250
01:06:12,680 --> 01:06:15,480
Speaker 2: the spoils. So you're not walking around on a walker

1251
01:06:16,240 --> 01:06:19,160
Speaker 2: in a grocery store talking about may I help you?

1252
01:06:19,160 --> 01:06:22,080
Speaker 2: You understand what I'm saying. So you've got to plan

1253
01:06:22,320 --> 01:06:25,120
Speaker 2: on a day that you don't feel as well as

1254
01:06:25,160 --> 01:06:27,000
Speaker 2: you do right now. You've got a plan on a

1255
01:06:27,120 --> 01:06:29,320
Speaker 2: day that you can't get on your knees and get

1256
01:06:29,360 --> 01:06:31,440
Speaker 2: up like you used to plan on that day. And

1257
01:06:31,520 --> 01:06:35,120
Speaker 2: if you don't use your youth for something that protects

1258
01:06:35,120 --> 01:06:40,120
Speaker 2: your old age. So frustrating the amount of people that

1259
01:06:40,160 --> 01:06:43,920
Speaker 2: we bury, even in this church, that have no life

1260
01:06:43,960 --> 01:06:48,960
Speaker 2: insurance that we have to end up either paying for

1261
01:06:49,200 --> 01:06:52,080
Speaker 2: or raising an offering in the funeral or have a

1262
01:06:52,080 --> 01:06:54,480
Speaker 2: go funding. But they had all kinds of clothes and

1263
01:06:54,600 --> 01:07:00,520
Speaker 2: hats and gator shoes and whatever else they wanted. We've

1264
01:07:00,560 --> 01:07:03,880
Speaker 2: got to get a strategy when we are young, yes, sir.

1265
01:07:04,680 --> 01:07:06,520
Speaker 2: And it doesn't have to be a whole lot of

1266
01:07:06,560 --> 01:07:10,240
Speaker 2: money for it to grow exponentially, because it's going to

1267
01:07:10,360 --> 01:07:14,000
Speaker 2: compound interest over from year to year. And then look

1268
01:07:14,040 --> 01:07:16,800
Speaker 2: at yourself every year, and this is what I do.

1269
01:07:16,880 --> 01:07:19,480
Speaker 2: It's very very important to me. I look at myself

1270
01:07:19,560 --> 01:07:21,880
Speaker 2: year to year to see how much I have grown

1271
01:07:22,000 --> 01:07:24,920
Speaker 2: from year to year. Am I going forward or am

1272
01:07:24,920 --> 01:07:27,920
Speaker 2: I going backwards? Yes, sir, because you can fall backwards

1273
01:07:27,920 --> 01:07:32,640
Speaker 2: and I notice it. Sure you can fall backwards and

1274
01:07:32,840 --> 01:07:38,080
Speaker 2: end up with expendable goods imperishable items if you don't

1275
01:07:38,120 --> 01:07:42,200
Speaker 2: look at spreadsheets and see where you are in the

1276
01:07:42,320 --> 01:07:46,560
Speaker 2: course of things. Because sooner or I declare yesterday I

1277
01:07:46,600 --> 01:07:53,400
Speaker 2: was thirty eight. Yesterday yesterday morning, I was thirty eight.

1278
01:07:53,520 --> 01:07:57,280
Speaker 2: You were thirty eight, and by today's evening I am

1279
01:07:57,360 --> 01:08:03,160
Speaker 2: sixty eight. Don't know that thirty years flew by so

1280
01:08:03,360 --> 01:08:06,880
Speaker 2: quick it seemed like a lie, yes, sir. So so

1281
01:08:07,880 --> 01:08:11,560
Speaker 2: planning on getting old. It's bigger than planning on a

1282
01:08:11,560 --> 01:08:15,600
Speaker 2: big house because you're going to downside the house anyway. Yes, sir,

1283
01:08:15,800 --> 01:08:18,400
Speaker 2: it's better than planning on a big car because you're

1284
01:08:18,439 --> 01:08:22,920
Speaker 2: gonna outgrow that. You're going to outgrow your need to blame, Yes, sir,

1285
01:08:23,080 --> 01:08:26,280
Speaker 2: because the more you mature, the less important it is

1286
01:08:26,280 --> 01:08:29,160
Speaker 2: to you what people think about you. Yeah, but it's

1287
01:08:29,400 --> 01:08:31,400
Speaker 2: never going to go out of style to be able

1288
01:08:31,439 --> 01:08:32,519
Speaker 2: to take care of yourself.

1289
01:08:32,680 --> 01:08:36,320
Speaker 1: You know what, Bishop, you are absolutely right. I am.

1290
01:08:38,280 --> 01:08:41,360
Speaker 1: At thirty two, thirty three years old, I was just

1291
01:08:41,439 --> 01:08:45,240
Speaker 1: chasing money and I wanted to chase success. And then

1292
01:08:45,280 --> 01:08:47,920
Speaker 1: when I sat down with my doctor right around forty

1293
01:08:48,040 --> 01:08:53,280
Speaker 1: she said, and then if you keep this up, it's

1294
01:08:53,320 --> 01:08:57,559
Speaker 1: gonna hurt you long term. And now at forty one, Bishop,

1295
01:08:57,600 --> 01:09:01,960
Speaker 1: of things that I was chasing back then, I no

1296
01:09:02,040 --> 01:09:06,120
Speaker 1: longer desire it. Today. I desire to be healthy. I

1297
01:09:06,200 --> 01:09:09,479
Speaker 1: desire to be mentally healthy. The things that I was

1298
01:09:09,560 --> 01:09:11,720
Speaker 1: chasing them, I'm like, man, I wish I had this

1299
01:09:11,840 --> 01:09:16,679
Speaker 1: information when I was younger, And you're right, I knew

1300
01:09:16,720 --> 01:09:21,960
Speaker 1: it was coming just yesterday. I was thirty, just yesterday.

1301
01:09:22,320 --> 01:09:24,880
Speaker 1: I just graduated high school in two thousand and two,

1302
01:09:25,560 --> 01:09:29,479
Speaker 1: you just wait. And so it's like, now, just seeing

1303
01:09:29,520 --> 01:09:33,120
Speaker 1: my mind saying I don't care about that anymore. See

1304
01:09:33,160 --> 01:09:35,559
Speaker 1: my mind saying, man, I would rather drink a cup

1305
01:09:35,600 --> 01:09:38,479
Speaker 1: of water than some sweet tea, but I still want

1306
01:09:38,520 --> 01:09:41,840
Speaker 1: some sweet tea every now and then. It's like, now

1307
01:09:42,800 --> 01:09:48,200
Speaker 1: a disclaimer, but it's like I desire, My desire is

1308
01:09:48,240 --> 01:09:51,639
Speaker 1: different in this season of my life, and I'm loving

1309
01:09:51,680 --> 01:09:54,080
Speaker 1: this season. And it's just so funny because you know

1310
01:09:54,080 --> 01:09:55,640
Speaker 1: what it is. Bishop, I'm pretty sure you said this.

1311
01:09:55,640 --> 01:09:57,680
Speaker 1: I'm pretty sure your children say it now, like just

1312
01:09:57,720 --> 01:09:59,840
Speaker 1: wait till you get older. I would never do it.

1313
01:10:00,360 --> 01:10:02,599
Speaker 1: I sound like my mom and my dad just wait

1314
01:10:02,640 --> 01:10:04,479
Speaker 1: till you get older. Same, yeah, you know, and it's

1315
01:10:04,479 --> 01:10:07,799
Speaker 1: like wow. So I want to say to your generation, Bishop,

1316
01:10:07,840 --> 01:10:12,519
Speaker 1: thank you. Thank you for teaching us what you could.

1317
01:10:12,640 --> 01:10:16,120
Speaker 1: Thank you for being the examples that we need, and

1318
01:10:16,160 --> 01:10:18,840
Speaker 1: that we're going to take what you all did and

1319
01:10:18,920 --> 01:10:20,880
Speaker 1: we're going to just stack on it and make it better,

1320
01:10:21,240 --> 01:10:24,040
Speaker 1: and hopefully my generation will make it better, and then

1321
01:10:24,080 --> 01:10:27,360
Speaker 1: the generation behind me can make that even better because

1322
01:10:27,400 --> 01:10:28,599
Speaker 1: we're just standing on some struggle.

1323
01:10:28,840 --> 01:10:30,720
Speaker 2: One of the things you have to understand about our

1324
01:10:30,760 --> 01:10:33,519
Speaker 2: generation is that we were the children of the civil

1325
01:10:33,640 --> 01:10:34,240
Speaker 2: rights movement.

1326
01:10:34,320 --> 01:10:36,240
Speaker 1: Yes, sir, yes, sir.

1327
01:10:36,320 --> 01:10:38,880
Speaker 2: You have for black people. Now this is not true

1328
01:10:38,920 --> 01:10:41,920
Speaker 2: for my white listeners. For black people, we were the

1329
01:10:42,000 --> 01:10:44,479
Speaker 2: children of the civil rights movement, so it was a

1330
01:10:44,600 --> 01:10:47,720
Speaker 2: big deal that we could buy houses and buy them

1331
01:10:47,760 --> 01:10:49,200
Speaker 2: in other neighborhoods.

1332
01:10:49,320 --> 01:10:49,760
Speaker 1: Yes, sir.

1333
01:10:49,960 --> 01:10:53,800
Speaker 2: So you had movies like plays like Raising in the Sun.

1334
01:10:54,520 --> 01:10:58,240
Speaker 2: It were the reflection of the attitude. Now, we might

1335
01:10:58,280 --> 01:11:01,439
Speaker 2: not have been the parents that are that our parents

1336
01:11:01,479 --> 01:11:04,479
Speaker 2: were because we were just getting jobs and places we

1337
01:11:04,479 --> 01:11:08,080
Speaker 2: couldn't get jobs before affirmative Action was going. We were

1338
01:11:08,080 --> 01:11:11,000
Speaker 2: able to build houses and buy houses and do that

1339
01:11:11,040 --> 01:11:14,280
Speaker 2: sort of thing and have a car. This next generation

1340
01:11:14,840 --> 01:11:17,840
Speaker 2: grew up with their own bedroom. My brother, my sister,

1341
01:11:17,880 --> 01:11:20,160
Speaker 2: and I stayed in the same room for a long time.

1342
01:11:20,800 --> 01:11:24,040
Speaker 2: My kids would just go bananas if they stayed in

1343
01:11:24,080 --> 01:11:26,400
Speaker 2: the same room. You know that they're grown now, but

1344
01:11:26,600 --> 01:11:30,559
Speaker 2: when they were kids, they were gone bananas. Be sure

1345
01:11:32,280 --> 01:11:41,360
Speaker 2: that you don't give them everything too soon, except you

1346
01:11:41,479 --> 01:11:45,240
Speaker 2: give them everything except what made you great. And that's

1347
01:11:45,280 --> 01:11:51,160
Speaker 2: the struggle. If there is no struggle, there is no strength.

1348
01:11:53,040 --> 01:11:57,040
Speaker 2: And sometimes we're so happy to give them what we

1349
01:11:57,200 --> 01:12:00,840
Speaker 2: didn't have that they are not prepared, And I think

1350
01:12:00,840 --> 01:12:03,880
Speaker 2: that we're coming into a time now that those that

1351
01:12:04,040 --> 01:12:08,599
Speaker 2: don't go up technologically and intellectually and go take those

1352
01:12:08,640 --> 01:12:12,200
Speaker 2: courses and expand their wealth, they're going to fall down.

1353
01:12:12,800 --> 01:12:15,439
Speaker 2: And you know what, they don't know how to plow.

1354
01:12:15,600 --> 01:12:18,000
Speaker 2: They don't know how to plan, they don't know how

1355
01:12:18,000 --> 01:12:19,960
Speaker 2: to grow, they don't know how to can, They don't

1356
01:12:19,960 --> 01:12:22,880
Speaker 2: know how to survive in a tough situation because we

1357
01:12:23,000 --> 01:12:26,400
Speaker 2: took all of that away. Yes, my mother taught me

1358
01:12:26,439 --> 01:12:27,160
Speaker 2: all that stuff.

1359
01:12:27,280 --> 01:12:28,240
Speaker 1: Yeah.

1360
01:12:28,520 --> 01:12:32,960
Speaker 2: So the crisis is not just that we're losing our

1361
01:12:33,000 --> 01:12:37,080
Speaker 2: middle class, which is a huge crisis. Okay, yes, But

1362
01:12:37,200 --> 01:12:39,760
Speaker 2: the crisis that makes it even worse than that is

1363
01:12:39,800 --> 01:12:42,080
Speaker 2: that we're raising a generation that doesn't know how to

1364
01:12:42,120 --> 01:12:46,640
Speaker 2: be broke. They don't know how to be broke. So

1365
01:12:47,240 --> 01:12:49,960
Speaker 2: there is there is no such thing as a garden.

1366
01:12:49,960 --> 01:12:55,120
Speaker 2: In your back card, there is chapter seven Advice for

1367
01:12:55,280 --> 01:12:56,200
Speaker 2: Next Generation.

1368
01:12:57,240 --> 01:12:58,120
Speaker 1: Can I ask you a question?

1369
01:12:58,240 --> 01:12:58,599
Speaker 2: Sure?

1370
01:12:59,439 --> 01:13:05,120
Speaker 1: In thisen with social media being so loud, in this generation,

1371
01:13:06,200 --> 01:13:12,920
Speaker 1: we're having this conversation of I don't want to work.

1372
01:13:13,160 --> 01:13:15,479
Speaker 1: One thing I'm seeing in this generation is they want

1373
01:13:15,520 --> 01:13:17,519
Speaker 1: to work from home, but they don't want a boss.

1374
01:13:18,800 --> 01:13:20,919
Speaker 1: They want to make all this money, but they barely

1375
01:13:21,000 --> 01:13:24,080
Speaker 1: want to work. What would you say to this generation

1376
01:13:24,200 --> 01:13:27,439
Speaker 1: that is seen the work from home. Be an entrepreneur,

1377
01:13:27,560 --> 01:13:30,360
Speaker 1: Be your own boss, you know, be a boss woman,

1378
01:13:30,439 --> 01:13:33,479
Speaker 1: be a boss man. Don't work for no man. What

1379
01:13:33,520 --> 01:13:36,040
Speaker 1: would you say to that generation who's watching this, because

1380
01:13:36,080 --> 01:13:38,800
Speaker 1: for entrepreneurs like me, I'm competing with that.

1381
01:13:39,120 --> 01:13:44,760
Speaker 2: I would say, I'm sorry that we raised you in

1382
01:13:44,840 --> 01:13:48,920
Speaker 2: such a way that your pipe dreams will only fit

1383
01:13:49,320 --> 01:13:54,599
Speaker 2: less than ten percent of the masses of you. I'm

1384
01:13:54,680 --> 01:13:56,920
Speaker 2: sorry that we made you think that you could be

1385
01:13:56,960 --> 01:13:59,960
Speaker 2: a hip hop artist and you're thirty eight years old

1386
01:14:00,160 --> 01:14:04,200
Speaker 2: and you're still in your back room making music. I'm sorry.

1387
01:14:04,680 --> 01:14:06,439
Speaker 2: I'm sorry that you thought you were going to be

1388
01:14:06,479 --> 01:14:10,519
Speaker 2: the next Michael Jordan and you're on the court when

1389
01:14:10,560 --> 01:14:13,439
Speaker 2: you should have been doing something that made you some money.

1390
01:14:13,640 --> 01:14:18,080
Speaker 2: The stats are against you. Only the few become the

1391
01:14:18,160 --> 01:14:21,639
Speaker 2: Tiger Woods of the world. Only the few enter into

1392
01:14:21,680 --> 01:14:25,559
Speaker 2: technology and become extremely successful. And so we have to

1393
01:14:25,640 --> 01:14:28,639
Speaker 2: have We're going to have something that do that. And

1394
01:14:28,880 --> 01:14:33,320
Speaker 2: your generation, in the younger generation after you're smarter than

1395
01:14:33,360 --> 01:14:37,879
Speaker 2: we ever thought about being. Okay, but smart doesn't ensure

1396
01:14:37,920 --> 01:14:39,960
Speaker 2: that you're going to have a job. If you're not

1397
01:14:40,040 --> 01:14:46,360
Speaker 2: willing to work, and you can't work for yourself and

1398
01:14:46,560 --> 01:14:52,160
Speaker 2: learn by yourself, even if you get the money off

1399
01:14:52,160 --> 01:14:56,599
Speaker 2: of social media, you need somebody to mentor you how

1400
01:14:56,600 --> 01:14:58,680
Speaker 2: to go into the room where the people with the

1401
01:14:58,720 --> 01:15:02,240
Speaker 2: money are, to talk to the bank president what to

1402
01:15:02,400 --> 01:15:05,680
Speaker 2: invest in, how to set up your finances so that

1403
01:15:05,760 --> 01:15:10,479
Speaker 2: you have structured if you if you resent anybody telling

1404
01:15:10,520 --> 01:15:13,840
Speaker 2: you what to do, you resent your teachers, you resent

1405
01:15:13,920 --> 01:15:18,080
Speaker 2: your police officers, you resent your your captains, you release

1406
01:15:18,120 --> 01:15:23,880
Speaker 2: your you resent your doctor, you resent you was in authority. Yes,

1407
01:15:24,240 --> 01:15:27,960
Speaker 2: so then you're gonna treat yourself. You know you're gonna

1408
01:15:28,040 --> 01:15:30,800
Speaker 2: You're gonna treat your own diseases. You're not gonna get

1409
01:15:30,840 --> 01:15:33,599
Speaker 2: financial advice that you need. You cannot get through this

1410
01:15:33,680 --> 01:15:39,599
Speaker 2: world without listening at somebody teach you something, and and

1411
01:15:39,600 --> 01:15:43,479
Speaker 2: and and and I think it's our fault. I think

1412
01:15:43,520 --> 01:15:46,800
Speaker 2: it's our fault because we left them home with computers

1413
01:15:47,080 --> 01:15:50,879
Speaker 2: to raise and they came up with their own devices

1414
01:15:50,880 --> 01:15:53,840
Speaker 2: and they became really really smart and technology and that's

1415
01:15:53,960 --> 01:15:58,639
Speaker 2: really cool. But having the grit to go along with

1416
01:15:58,680 --> 01:16:02,920
Speaker 2: the gadgets a whole whole other thing. The gadget is amazing,

1417
01:16:03,640 --> 01:16:05,639
Speaker 2: but you still got to go knock on the door

1418
01:16:05,640 --> 01:16:08,800
Speaker 2: of Netflix to get the deal. And if you do

1419
01:16:08,880 --> 01:16:11,400
Speaker 2: the deal with Netflix, they're gonna tell you what to do.

1420
01:16:12,560 --> 01:16:14,760
Speaker 2: Even though you made the movie without them, They're gonna

1421
01:16:14,800 --> 01:16:17,439
Speaker 2: tell you what to do because if they're gonna invest

1422
01:16:17,479 --> 01:16:20,479
Speaker 2: in it, he who makes the goal makes the rules. Yes, sir,

1423
01:16:21,000 --> 01:16:22,880
Speaker 2: if you go to the doctor's no need in going

1424
01:16:22,960 --> 01:16:24,880
Speaker 2: if you're not gonna listen at what the doctor says.

1425
01:16:24,960 --> 01:16:27,479
Speaker 2: Do So this is bigger than money. This is about health.

1426
01:16:27,520 --> 01:16:30,839
Speaker 2: This is about authority. This is about serving your country

1427
01:16:31,040 --> 01:16:34,440
Speaker 2: and the army and the armed forces, This is about everything.

1428
01:16:35,360 --> 01:16:40,679
Speaker 2: There is a hierarchy to everything. And I apologize because

1429
01:16:40,720 --> 01:16:46,479
Speaker 2: we were so busy benefiting from what our parents marched

1430
01:16:46,600 --> 01:16:52,280
Speaker 2: for that you have authority issues. We didn't have authority

1431
01:16:52,320 --> 01:17:03,120
Speaker 2: issues because our parents made sure they did all of that. Yeah,

1432
01:17:03,120 --> 01:17:05,760
Speaker 2: they took that out, So that's out of the way.

1433
01:17:05,880 --> 01:17:13,280
Speaker 2: Today we're counseling the child rather than correcting the child.

1434
01:17:14,000 --> 01:17:18,800
Speaker 2: And so when authority comes along, sometimes the policeman is wrong.

1435
01:17:18,920 --> 01:17:22,639
Speaker 2: Sometimes the policeman pulled the trigger because Johnny slapped him

1436
01:17:22,640 --> 01:17:25,960
Speaker 2: in the head, you know. And I think that we

1437
01:17:26,080 --> 01:17:29,639
Speaker 2: have to do we have to take on some responsibility

1438
01:17:30,240 --> 01:17:35,800
Speaker 2: of training our children not to resent authority. All authority

1439
01:17:36,080 --> 01:17:40,240
Speaker 2: is not evil. All authority is not wicked. Some authority

1440
01:17:40,320 --> 01:17:44,080
Speaker 2: will save your life. I'll tell you this story, quick story.

1441
01:17:45,960 --> 01:17:49,120
Speaker 2: I was coming down off the steps little Reggedy house

1442
01:17:50,080 --> 01:17:52,439
Speaker 2: my mother and father Bill, And at that time we

1443
01:17:53,000 --> 01:17:55,800
Speaker 2: turned the attic into an extra bedroom, so now my

1444
01:17:55,880 --> 01:17:58,160
Speaker 2: brother and I had one room, my sister had another room.

1445
01:17:58,160 --> 01:18:02,000
Speaker 2: We were moving on up till he said, finally got

1446
01:18:02,000 --> 01:18:04,600
Speaker 2: a piece of the pipe. I'm outside playing, which is

1447
01:18:04,600 --> 01:18:07,960
Speaker 2: something they don't do anymore either, which is not good

1448
01:18:08,000 --> 01:18:10,920
Speaker 2: for us health, by facts. And I was about to

1449
01:18:10,960 --> 01:18:15,559
Speaker 2: step off the step, and my mother said stop without

1450
01:18:15,600 --> 01:18:21,680
Speaker 2: a question. I froze like a mannequin. There was a

1451
01:18:21,800 --> 01:18:26,400
Speaker 2: rattlesnake under my foot. Oh man, if I wouldn't negotiate

1452
01:18:26,439 --> 01:18:28,679
Speaker 2: it with her, what do you mean stop? This doesn't

1453
01:18:28,720 --> 01:18:32,960
Speaker 2: make no sense. I might not be here today. All

1454
01:18:33,120 --> 01:18:37,040
Speaker 2: rules are not bad. On all correction is not bad.

1455
01:18:37,320 --> 01:18:39,240
Speaker 2: There are certain things that God says for us not

1456
01:18:39,320 --> 01:18:42,439
Speaker 2: to do for a reason. Yes, sir, you know there's

1457
01:18:42,479 --> 01:18:45,200
Speaker 2: a reason He tells us not to love money. Yes, sir,

1458
01:18:45,320 --> 01:18:48,439
Speaker 2: he's not against us making money. Facts, But he's flat

1459
01:18:48,520 --> 01:18:51,960
Speaker 2: set against us loving money, yes, sir, because that becomes

1460
01:18:51,960 --> 01:18:56,000
Speaker 2: the root of all evil, and listening at rules are

1461
01:18:56,160 --> 01:18:59,679
Speaker 2: for your benefit, yes, sir. No correction for the present

1462
01:18:59,720 --> 01:19:02,439
Speaker 2: time seem as joy, but it brings forth a peaceable

1463
01:19:02,439 --> 01:19:07,000
Speaker 2: fruit of righteousness. Correction. If my mother taught me how

1464
01:19:07,040 --> 01:19:12,120
Speaker 2: to drive a car, correction, sir. I need direction, I

1465
01:19:12,200 --> 01:19:16,040
Speaker 2: need correction, and then I can have independence, yes, sir,

1466
01:19:16,400 --> 01:19:19,639
Speaker 2: And I can want everyone teach one, yes, sir. So

1467
01:19:20,040 --> 01:19:24,840
Speaker 2: I think the problem there started with we missed our

1468
01:19:24,920 --> 01:19:29,800
Speaker 2: window that when they were children, we were working like

1469
01:19:29,960 --> 01:19:33,559
Speaker 2: dogs to get into the house, and we left them

1470
01:19:33,600 --> 01:19:37,120
Speaker 2: home either in front of the TV or on the computer,

1471
01:19:37,960 --> 01:19:40,240
Speaker 2: and they don't even know how to play outside. They

1472
01:19:40,280 --> 01:19:42,040
Speaker 2: don't know how to take a stick in a rock

1473
01:19:42,120 --> 01:19:44,439
Speaker 2: and go down in the creek bed and have fun

1474
01:19:44,479 --> 01:19:49,040
Speaker 2: all day in the hot sun. If air conditioning goes out,

1475
01:19:49,080 --> 01:19:50,240
Speaker 2: it is a major crisis.

1476
01:19:50,360 --> 01:19:50,760
Speaker 1: Yes, sir.

1477
01:19:51,800 --> 01:19:54,880
Speaker 2: I spent had my life in the house that didn't

1478
01:19:54,880 --> 01:19:55,719
Speaker 2: have air conditioning.

1479
01:19:55,920 --> 01:20:00,559
Speaker 1: Oh my gosh, yeah, I'm great. Fighting grew up in timeses.

1480
01:20:00,720 --> 01:20:03,360
Speaker 2: Oh, it didn't have air conditioning. We didn't even think

1481
01:20:03,360 --> 01:20:06,280
Speaker 2: anything about it. Air Conditioning was for rich people. Doorbells

1482
01:20:06,520 --> 01:20:10,599
Speaker 2: were for rich people. But my father's house they had

1483
01:20:10,680 --> 01:20:13,800
Speaker 2: newspaper stuck over in the cracks in the walls of

1484
01:20:13,880 --> 01:20:18,160
Speaker 2: the house. Oh my god. Okay. And his father's mother

1485
01:20:18,320 --> 01:20:25,120
Speaker 2: was a slave. So every generation we get weaker and wiser.

1486
01:20:25,120 --> 01:20:26,719
Speaker 1: Oh, weaker and wiser.

1487
01:20:26,960 --> 01:20:30,519
Speaker 2: Yeah, we become wiser in one way, yes, sir, and

1488
01:20:30,560 --> 01:20:33,640
Speaker 2: weaker in another way. Yes, God bless the child that

1489
01:20:33,880 --> 01:20:39,719
Speaker 2: gets both wisdom okay, and strength, yes, sir. And that's

1490
01:20:39,760 --> 01:20:42,920
Speaker 2: the goal. And if you don't have strength, you can

1491
01:20:42,920 --> 01:20:45,320
Speaker 2: build it up, yes, sir, you can build it up.

1492
01:20:46,280 --> 01:20:48,400
Speaker 2: You can build it up. And that's the message that

1493
01:20:48,520 --> 01:20:51,280
Speaker 2: needs to go out. But I love the young people.

1494
01:20:51,360 --> 01:20:54,519
Speaker 2: I'm crazy about them. Yes, there are children. If they're

1495
01:20:54,560 --> 01:20:58,160
Speaker 2: making mistakes, we have to take some responsibility for that

1496
01:20:58,240 --> 01:21:01,519
Speaker 2: because we did not create an atmosphere that's conducive for

1497
01:21:01,640 --> 01:21:03,639
Speaker 2: them to value some of the things that they need

1498
01:21:03,680 --> 01:21:05,760
Speaker 2: to value, like correction.

1499
01:21:05,600 --> 01:21:07,760
Speaker 1: Right, lack direction, yes, sir.

1500
01:21:08,040 --> 01:21:12,000
Speaker 2: Like instruction doesn't mean I hate you, doesn't mean that

1501
01:21:12,080 --> 01:21:13,960
Speaker 2: I don't respect that you know how to do things

1502
01:21:14,000 --> 01:21:16,599
Speaker 2: that I don't know how to do. But it does

1503
01:21:16,760 --> 01:21:19,920
Speaker 2: mean that there is a hierarchy, even if you do

1504
01:21:20,040 --> 01:21:24,320
Speaker 2: start your own business, Yes, sir, you're gonna you don't

1505
01:21:24,360 --> 01:21:26,799
Speaker 2: want to be bossed, but you're gonna be somebody's boss.

1506
01:21:27,840 --> 01:21:29,360
Speaker 1: How can I be a boss or a bishop if

1507
01:21:29,360 --> 01:21:30,519
Speaker 1: I've never learned how to served.

1508
01:21:31,760 --> 01:21:32,599
Speaker 2: That's the problem.

1509
01:21:33,479 --> 01:21:35,080
Speaker 1: And I think that's one of the reasons why I

1510
01:21:35,120 --> 01:21:39,000
Speaker 1: have such a successful businesses because for I served for

1511
01:21:39,600 --> 01:21:42,720
Speaker 1: sixteen years before I launched out, so now I know

1512
01:21:43,800 --> 01:21:46,320
Speaker 1: the kind of people I need to find because I

1513
01:21:46,479 --> 01:21:47,080
Speaker 1: was that person.

1514
01:21:47,200 --> 01:21:48,920
Speaker 2: Yes, yes, yes, And.

1515
01:21:49,560 --> 01:21:52,519
Speaker 1: It's just hard in this generation because everybody wants to

1516
01:21:52,520 --> 01:21:56,439
Speaker 1: be Bishop Jakes and this person or that person. I'm like, yo,

1517
01:21:56,960 --> 01:22:01,320
Speaker 1: but Bishop served, but Jordan had to serve up beneath

1518
01:22:01,360 --> 01:22:06,839
Speaker 1: the coach. He, like everyone has. Everyone successful, I believe

1519
01:22:07,280 --> 01:22:10,160
Speaker 1: really had to. But in today's saying time, if you

1520
01:22:10,240 --> 01:22:12,280
Speaker 1: got a phone, you just get in front of it

1521
01:22:12,320 --> 01:22:14,599
Speaker 1: and go viral and be popular. But it it doesn't

1522
01:22:14,640 --> 01:22:16,519
Speaker 1: mean that you're a servant and doesn't mean you can

1523
01:22:16,520 --> 01:22:17,360
Speaker 1: really build something.

1524
01:22:18,200 --> 01:22:22,840
Speaker 2: And in very few if you check the percentages, they're

1525
01:22:22,960 --> 01:22:27,000
Speaker 2: very low of people who succeed that way, yes, sir,

1526
01:22:27,280 --> 01:22:29,840
Speaker 2: And even if they do succeed that way, that they

1527
01:22:29,840 --> 01:22:32,599
Speaker 2: don't stay that way because there's no talent behind it

1528
01:22:32,760 --> 01:22:38,800
Speaker 2: driving it. Sir, it's just just pop luck. It's just

1529
01:22:38,960 --> 01:22:42,960
Speaker 2: pop It is knowing what pot luck is, but you

1530
01:22:43,000 --> 01:22:45,280
Speaker 2: didn't know what you got. You went to a pot

1531
01:22:45,360 --> 01:22:47,120
Speaker 2: luck dinner, you didn't you don't know what was going

1532
01:22:47,200 --> 01:22:49,360
Speaker 2: to be to tell you. So the question was always

1533
01:22:49,360 --> 01:22:52,599
Speaker 2: who made the potato silence? Okay, because you can get

1534
01:22:52,640 --> 01:22:55,400
Speaker 2: anything out of pot luck dinner. And and so I

1535
01:22:55,439 --> 01:22:58,599
Speaker 2: think there are certain systems, yes, sir. And it's not

1536
01:22:58,720 --> 01:23:04,439
Speaker 2: just the young people. The whole world is losing all

1537
01:23:04,479 --> 01:23:10,280
Speaker 2: of its systems. And when you lose systems, you know,

1538
01:23:10,560 --> 01:23:13,800
Speaker 2: I was involved in Katrina. I'll say this, and I'll

1539
01:23:13,800 --> 01:23:16,639
Speaker 2: bring this because you and I could unkle, but I

1540
01:23:16,680 --> 01:23:20,320
Speaker 2: was involved in the rescue efforts in Katrina, and and

1541
01:23:20,640 --> 01:23:23,760
Speaker 2: and pulling the bodies out and praying over the people

1542
01:23:23,800 --> 01:23:27,280
Speaker 2: and all that kind of stuff. It wasn't the wind

1543
01:23:27,760 --> 01:23:31,920
Speaker 2: or the rain that did the most damage. It was

1544
01:23:32,000 --> 01:23:37,960
Speaker 2: the breaking of the levee. The levee represents systems, Yeah,

1545
01:23:39,120 --> 01:23:44,080
Speaker 2: the giving away of our systems, yes, sir, it's going

1546
01:23:44,160 --> 01:23:48,439
Speaker 2: to leave us on the roof. The systems are there

1547
01:23:48,479 --> 01:23:52,800
Speaker 2: for your safety. The reason that there's a handrail on

1548
01:23:52,840 --> 01:23:56,160
Speaker 2: them steps is just in case you need to get it.

1549
01:23:56,280 --> 01:23:59,120
Speaker 2: You need to grab it. It'll keeps you from falling.

1550
01:23:59,280 --> 01:24:00,640
Speaker 1: Yes, sir, those.

1551
01:24:00,439 --> 01:24:03,559
Speaker 2: Systems are there for a reason, and unless you replace

1552
01:24:03,640 --> 01:24:08,800
Speaker 2: them with something that's more efficient, right, let's keep something there, Yes, sir,

1553
01:24:09,000 --> 01:24:11,639
Speaker 2: I'm not saying that what we built has got to last.

1554
01:24:11,960 --> 01:24:14,200
Speaker 2: You might come up and build something better. You know,

1555
01:24:14,240 --> 01:24:18,679
Speaker 2: it might be an electronic handrail that comes that's made

1556
01:24:18,720 --> 01:24:20,519
Speaker 2: out of light beams. I don't know.

1557
01:24:20,720 --> 01:24:22,360
Speaker 1: Yes, sir, that's fine.

1558
01:24:22,080 --> 01:24:26,240
Speaker 2: But something has to be in place to keep you straight.

1559
01:24:28,840 --> 01:24:31,680
Speaker 1: You got to close this bishop, because I mean, you

1560
01:24:31,800 --> 01:24:34,439
Speaker 1: just started something. Because I'm like, I think this generation

1561
01:24:34,560 --> 01:24:37,280
Speaker 1: is looking for new systems, but the new systems that

1562
01:24:37,280 --> 01:24:40,519
Speaker 1: they're going to are not really proven systems yet, right, right,

1563
01:24:40,600 --> 01:24:43,760
Speaker 1: and so there will skip over the proven systems to

1564
01:24:43,840 --> 01:24:47,400
Speaker 1: go to the more attractive new system when when yes,

1565
01:24:47,880 --> 01:24:49,840
Speaker 1: let's let's let's play with a little bit, but don't

1566
01:24:49,840 --> 01:24:53,360
Speaker 1: skip over the system that we know that has been working. Yeah,

1567
01:24:53,640 --> 01:24:57,679
Speaker 1: And I'm gonna be quiet because it's Crypto is being

1568
01:24:57,720 --> 01:25:02,080
Speaker 1: talked about. I mean it, but I'm not gonna invest

1569
01:25:02,080 --> 01:25:04,479
Speaker 1: into Crypto before I invest into my four one came out.

1570
01:25:05,760 --> 01:25:08,439
Speaker 1: That's a new system, but this is a proven system.

1571
01:25:09,040 --> 01:25:12,759
Speaker 2: So let's let's use both of us exactly.

1572
01:25:16,479 --> 01:25:18,680
Speaker 1: But I mean, I'm gonna take five hundred put it

1573
01:25:18,760 --> 01:25:20,840
Speaker 1: over here because my boss don't give me two fifty.

1574
01:25:21,720 --> 01:25:23,479
Speaker 1: But then I'm gonna put eighty dollars over there. I'm

1575
01:25:23,479 --> 01:25:25,080
Speaker 1: gonna play with it. I'm gonna watch it. I'm gonna

1576
01:25:25,080 --> 01:25:27,840
Speaker 1: see what's going on with it. Okay, hey day trading

1577
01:25:27,880 --> 01:25:29,799
Speaker 1: is becoming. Oh okay, I'm gonna.

1578
01:25:29,600 --> 01:25:30,200
Speaker 2: Play a little bit.

1579
01:25:30,200 --> 01:25:33,280
Speaker 1: But but I'm not gonna take my entire portfolio and put

1580
01:25:33,280 --> 01:25:35,559
Speaker 1: it over here into this new system because it hasn't

1581
01:25:35,600 --> 01:25:38,800
Speaker 1: been proven yet. But let's just keep it. Let's let's

1582
01:25:38,800 --> 01:25:41,519
Speaker 1: play with it, let's watch it, and then as time

1583
01:25:41,600 --> 01:25:43,559
Speaker 1: goes and we see the system is proven and we're

1584
01:25:43,560 --> 01:25:45,720
Speaker 1: seeing what's going on, then let's then we can make

1585
01:25:45,760 --> 01:25:51,360
Speaker 1: some adjustments. But I think Bishop's systems and strategy, it's

1586
01:25:51,479 --> 01:25:53,400
Speaker 1: just so so so important. It just goes back to

1587
01:25:53,479 --> 01:25:55,519
Speaker 1: what I said in the very beginning, that we just

1588
01:25:55,520 --> 01:25:59,240
Speaker 1: got a properly priorly plan so that we can prevent

1589
01:25:59,360 --> 01:26:03,000
Speaker 1: poor performercis when it comes to our finances, when it

1590
01:26:03,080 --> 01:26:06,360
Speaker 1: comes to leaving an inheritance to our children's children. My

1591
01:26:06,560 --> 01:26:10,240
Speaker 1: prayer is that people will hear what you said, we

1592
01:26:10,479 --> 01:26:13,440
Speaker 1: got to have systems. If we do not have systems,

1593
01:26:13,680 --> 01:26:16,000
Speaker 1: our children will not be able to live the life

1594
01:26:16,040 --> 01:26:19,719
Speaker 1: that we truly desire. And one thing my father's always

1595
01:26:19,800 --> 01:26:22,280
Speaker 1: told me, I want you to have a better life

1596
01:26:22,320 --> 01:26:26,320
Speaker 1: than me. And I'm like, and when I look at it, Bishop,

1597
01:26:26,439 --> 01:26:29,280
Speaker 1: everything goes down to what system are you passing down?

1598
01:26:29,320 --> 01:26:31,920
Speaker 2: Given so six peas again, and I want you to

1599
01:26:32,040 --> 01:26:34,559
Speaker 2: jump this down. And if you were, you can write

1600
01:26:34,720 --> 01:26:37,080
Speaker 2: something down in your phone or somewhere. I want you

1601
01:26:37,160 --> 01:26:42,599
Speaker 2: to jump this down and make it your mantra for marriage,

1602
01:26:43,200 --> 01:26:48,160
Speaker 2: for life, for business, for home ownership, for development. I

1603
01:26:48,200 --> 01:26:50,799
Speaker 2: want you to get this down. Give it to yes, sirs.

1604
01:26:50,840 --> 01:26:56,160
Speaker 1: Called proper prior planning prevents poor performances.

1605
01:26:56,920 --> 01:27:01,720
Speaker 2: Proper prior planning prevents poor performance.

1606
01:27:01,800 --> 01:27:04,360
Speaker 1: Yes, And you can take that in any aspect of

1607
01:27:04,400 --> 01:27:08,240
Speaker 1: your life anything. And I literally do it in every

1608
01:27:08,360 --> 01:27:11,160
Speaker 1: aspect of my life. If I want to prevent major

1609
01:27:11,200 --> 01:27:13,679
Speaker 1: health issues, then what am I doing in my thirties?

1610
01:27:14,240 --> 01:27:17,000
Speaker 1: My daughter said, Hey, your health issues in your sixties

1611
01:27:17,040 --> 01:27:19,960
Speaker 1: started in your thirties. Oh absolutely, So you need to

1612
01:27:20,040 --> 01:27:23,960
Speaker 1: properly priorly plan now to prevent that. If you're broken

1613
01:27:24,040 --> 01:27:26,960
Speaker 1: your sixties and seventies and I say this and shut

1614
01:27:27,040 --> 01:27:30,960
Speaker 1: up a bishop. But I went to McDonald's at about

1615
01:27:31,000 --> 01:27:35,360
Speaker 1: twelve thirty and I just got me some a small

1616
01:27:35,400 --> 01:27:37,960
Speaker 1: fry and a high seat. Orange paid for it. The

1617
01:27:37,960 --> 01:27:41,080
Speaker 1: first window, kid was maybe about twenty one twenty two

1618
01:27:41,160 --> 01:27:45,960
Speaker 1: years old. Went to the second window and I almost cried,

1619
01:27:48,560 --> 01:27:51,120
Speaker 1: I'm a caller, a young lady, but she was of age.

1620
01:27:51,640 --> 01:27:53,960
Speaker 1: She was handing me my food and her hands were shaking,

1621
01:27:54,760 --> 01:27:56,400
Speaker 1: and I asked the bishop. I said, man, I'm so

1622
01:27:56,439 --> 01:27:57,920
Speaker 1: sorry I got to ask how much? How to be rude,

1623
01:27:57,960 --> 01:28:03,880
Speaker 1: but how old are you? Eight years old? Working at McDonald's.

1624
01:28:04,560 --> 01:28:06,400
Speaker 1: And when she handed my food after she told me

1625
01:28:06,439 --> 01:28:08,840
Speaker 1: her age, and she said, baby, i'm here because when

1626
01:28:08,840 --> 01:28:11,840
Speaker 1: I was your age, I didn't have the right information right.

1627
01:28:13,320 --> 01:28:17,280
Speaker 1: And I was like, scares me to death. That can't

1628
01:28:17,280 --> 01:28:20,439
Speaker 1: be my mom, my wife. It just can't be nowhere

1629
01:28:20,439 --> 01:28:23,040
Speaker 1: who I love. And she looked at me, she said,

1630
01:28:23,160 --> 01:28:25,480
Speaker 1: do not make the wrong decisions.

1631
01:28:25,479 --> 01:28:32,040
Speaker 2: On chapter eight Recipe for Success, explain this to me

1632
01:28:32,120 --> 01:28:39,280
Speaker 2: before you go. You're not normal. You're not the normal

1633
01:28:40,160 --> 01:28:46,320
Speaker 2: everyday person your age with that much accomplishments. So let's

1634
01:28:46,320 --> 01:28:53,639
Speaker 2: talk about those accomplishments. Okay, uh college degree, yes, sir,

1635
01:28:54,479 --> 01:29:02,360
Speaker 2: master's degree, yes, sir. Teaching at a university author, okay,

1636
01:29:02,840 --> 01:29:09,720
Speaker 2: financial advisor. Did I leave out something? We leave it

1637
01:29:09,840 --> 01:29:17,760
Speaker 2: right there. Okay, it's so tell me give me the

1638
01:29:17,760 --> 01:29:25,000
Speaker 2: recipe that made you take life seriously so young.

1639
01:29:27,080 --> 01:29:30,520
Speaker 1: I think for me, if I'm being honest and truthful,

1640
01:29:31,439 --> 01:29:36,760
Speaker 1: the very first thing is I saw my parents struggle

1641
01:29:36,840 --> 01:29:41,840
Speaker 1: and work hard, and I didn't want that from my

1642
01:29:41,960 --> 01:29:49,320
Speaker 1: life moving forward too. I'm just being honest, Bishop. I

1643
01:29:49,360 --> 01:29:56,640
Speaker 1: saw other people have things that I wanted, and I

1644
01:29:56,640 --> 01:30:03,120
Speaker 1: said I want that. Three, I'm being completely transparent. I

1645
01:30:03,160 --> 01:30:05,960
Speaker 1: got into the rooms. You know how many rooms I've

1646
01:30:06,000 --> 01:30:08,600
Speaker 1: been in with you, Bishop, and you probably didn't recognize me.

1647
01:30:10,080 --> 01:30:12,200
Speaker 1: How many times I was just sneaking to the back

1648
01:30:12,360 --> 01:30:16,960
Speaker 1: of your conferences, your meetings, and I would just listen.

1649
01:30:17,360 --> 01:30:19,040
Speaker 1: And I used to tell myself, and I think we

1650
01:30:19,080 --> 01:30:22,040
Speaker 1: hear this often, but it's so so so important that

1651
01:30:22,160 --> 01:30:25,320
Speaker 1: it's I wanted to get into the room to see

1652
01:30:25,320 --> 01:30:28,680
Speaker 1: how you were moving, to see how these other millionaires

1653
01:30:28,680 --> 01:30:31,479
Speaker 1: are moving. And I would take notes and I will

1654
01:30:31,520 --> 01:30:35,280
Speaker 1: go home and I wouldn't try to be you. I was, okay, wait,

1655
01:30:35,360 --> 01:30:37,519
Speaker 1: what can I take from this? Room that I learned

1656
01:30:37,560 --> 01:30:39,880
Speaker 1: in today, and how can I apply that to my life.

1657
01:30:41,040 --> 01:30:43,479
Speaker 1: I wouldn't go back and look at in my days

1658
01:30:43,520 --> 01:30:48,200
Speaker 1: and time TV and the celebrities on TV, because that

1659
01:30:48,360 --> 01:30:50,920
Speaker 1: wasn't the life that I wanted. I wanted to get

1660
01:30:50,920 --> 01:30:53,000
Speaker 1: into rooms with the people who were living the lifestyle

1661
01:30:53,040 --> 01:30:55,280
Speaker 1: that I wanted to live, who was making an impact

1662
01:30:55,560 --> 01:30:57,840
Speaker 1: and booming. And then I started building the relationships and

1663
01:30:57,880 --> 01:31:00,600
Speaker 1: they started getting into your rooms and having conversations with you.

1664
01:31:00,920 --> 01:31:05,519
Speaker 1: But I shifted because I got into the rooms. I say,

1665
01:31:05,600 --> 01:31:07,080
Speaker 1: you know what, I do not want to be like

1666
01:31:07,200 --> 01:31:09,639
Speaker 1: my mom and dad. I do not want that. I

1667
01:31:09,720 --> 01:31:12,439
Speaker 1: love them, I'm grateful for them. They gave me the

1668
01:31:12,479 --> 01:31:15,559
Speaker 1: best life that they could have given me. But they

1669
01:31:15,600 --> 01:31:17,880
Speaker 1: worked three jobs. My mama would get off from her

1670
01:31:17,920 --> 01:31:20,960
Speaker 1: eight to five job, go work at Kmart back then

1671
01:31:21,160 --> 01:31:24,160
Speaker 1: after k Mart should go work for the Christian Brien bookstore,

1672
01:31:24,360 --> 01:31:26,600
Speaker 1: and then on Christmas she'll get another job just to

1673
01:31:26,640 --> 01:31:28,920
Speaker 1: make sure we had a decent Christmas. And I'm like,

1674
01:31:29,200 --> 01:31:31,200
Speaker 1: I saw my mom work hard. I'm like, I want

1675
01:31:31,200 --> 01:31:34,960
Speaker 1: to work smart with a little bit of hard, So

1676
01:31:35,000 --> 01:31:37,679
Speaker 1: how do I do this? And business? I'm seeing you

1677
01:31:37,800 --> 01:31:42,240
Speaker 1: just you're Pastory you're creating movies, You're creating this. I'm like, wait, wait, wait,

1678
01:31:42,439 --> 01:31:45,040
Speaker 1: how's he doing all this? And he doesn't look like

1679
01:31:45,320 --> 01:31:48,599
Speaker 1: he's working too too hard. But then I started noticing, Okay,

1680
01:31:48,600 --> 01:31:51,400
Speaker 1: he got this relationship, he has that relationship, he has

1681
01:31:51,479 --> 01:31:55,160
Speaker 1: this person. He was like, man, Beschal, there's so many

1682
01:31:55,200 --> 01:31:57,720
Speaker 1: things that you said that I don't know if you

1683
01:31:57,760 --> 01:32:01,040
Speaker 1: remember what you said. But one time he was like, man,

1684
01:32:01,080 --> 01:32:03,640
Speaker 1: I was driving this car and I didn't buy it.

1685
01:32:03,680 --> 01:32:06,639
Speaker 1: I knew the owner. He let me drive it. I said, wait, wait,

1686
01:32:06,720 --> 01:32:08,880
Speaker 1: I need to know the owner. Then I need to

1687
01:32:08,920 --> 01:32:11,360
Speaker 1: know the people who can open up the doors and

1688
01:32:11,439 --> 01:32:13,200
Speaker 1: put me in the room and give me the right education.

1689
01:32:13,640 --> 01:32:15,880
Speaker 1: So that's how I got where I'm at today, and

1690
01:32:15,920 --> 01:32:20,639
Speaker 1: that's why I'm so passionate about being a professor, because

1691
01:32:20,880 --> 01:32:23,960
Speaker 1: I'm when I'm in a classroom, Bishop, I'm not just teaching.

1692
01:32:24,520 --> 01:32:28,639
Speaker 1: I'm taking them to banks. I'm taking I'm bringing investors in.

1693
01:32:29,040 --> 01:32:33,040
Speaker 1: I'm bringing entrepreneurs in. I'm having them write out business

1694
01:32:33,160 --> 01:32:37,360
Speaker 1: plans and business ideas, and we're giving them scholarships. We're

1695
01:32:37,360 --> 01:32:40,960
Speaker 1: giving them access to capital to go start their business.

1696
01:32:41,080 --> 01:32:45,400
Speaker 1: At twenty. Because I understand the importance of being inside

1697
01:32:45,439 --> 01:32:49,240
Speaker 1: the room and exposing them earlier. So I'm only here

1698
01:32:49,640 --> 01:32:53,000
Speaker 1: because I was exposed to people like yourself and other

1699
01:32:53,040 --> 01:32:55,839
Speaker 1: people in the world that I'm on name, but it's

1700
01:32:56,280 --> 01:32:59,800
Speaker 1: I'm here, and I had this passion because of that

1701
01:33:00,000 --> 01:33:02,160
Speaker 1: atmosphere that I've been in, and I just I want

1702
01:33:02,200 --> 01:33:04,800
Speaker 1: to do better, but at the same time, I want

1703
01:33:04,840 --> 01:33:07,639
Speaker 1: to do better so that the generation following me can

1704
01:33:07,680 --> 01:33:08,360
Speaker 1: do much better.

1705
01:33:08,920 --> 01:33:11,720
Speaker 2: Thank you for that. I hope you take heed to that.

1706
01:33:12,560 --> 01:33:16,559
Speaker 2: Maybe you're encouraged by it, maybe you're discouraged by it.

1707
01:33:16,600 --> 01:33:18,760
Speaker 2: Maybe you think it's too late. It's never too late.

1708
01:33:19,800 --> 01:33:22,799
Speaker 2: Colonel Sanders was in his sixties when they started KFC.

1709
01:33:24,080 --> 01:33:26,200
Speaker 2: Kathy Hughes was in the middle of her life when

1710
01:33:26,200 --> 01:33:29,040
Speaker 2: she started Radio one. There's all kinds of people who

1711
01:33:29,080 --> 01:33:32,639
Speaker 2: did things late in life and still succeeded. Don't use

1712
01:33:32,680 --> 01:33:37,080
Speaker 2: it as a point of discouragement. I'm a believer. I'm

1713
01:33:37,120 --> 01:33:40,200
Speaker 2: a Christian. I don't care what your faith might be,

1714
01:33:40,320 --> 01:33:47,200
Speaker 2: but mine is christ. God, give me the plan that

1715
01:33:47,280 --> 01:33:50,400
Speaker 2: you have designed for my life, yes, sir, and let

1716
01:33:50,479 --> 01:33:55,680
Speaker 2: me live it to the fullest capacity possible, so that

1717
01:33:55,720 --> 01:33:58,600
Speaker 2: when I get to the end of my life, you

1718
01:33:58,640 --> 01:34:01,799
Speaker 2: will say, well, done waste on the amount of talent

1719
01:34:01,960 --> 01:34:05,599
Speaker 2: you've given me, Yes, sir, I did not waste, yes sir,

1720
01:34:05,680 --> 01:34:08,479
Speaker 2: what you gave me, Yes sir. And then go to work.

1721
01:34:08,520 --> 01:34:11,920
Speaker 2: Don't stay on your kneeds. Get up and go to

1722
01:34:11,960 --> 01:34:16,679
Speaker 2: work to find that plan and work that plan until

1723
01:34:16,760 --> 01:34:22,280
Speaker 2: you see the end result that he promised. Chapter nine.

1724
01:34:23,080 --> 01:34:28,599
Speaker 2: Dating budget. You say a person saying makes a guy

1725
01:34:28,640 --> 01:34:32,960
Speaker 2: makes one hundred thousand dollars a year and he wants

1726
01:34:33,000 --> 01:34:35,759
Speaker 2: to take a woman on a date. One hundred thousand

1727
01:34:35,800 --> 01:34:40,280
Speaker 2: dollars a year is not what it used to be, no, sir, okay,

1728
01:34:40,040 --> 01:34:44,160
Speaker 2: but it's a blessing. It is. It is what do

1729
01:34:44,240 --> 01:34:48,760
Speaker 2: you think he ought to spend plan to spend on

1730
01:34:48,760 --> 01:34:49,559
Speaker 2: the evening out?

1731
01:34:49,640 --> 01:34:53,360
Speaker 1: Ooh, Bishop, you're gonna get me in trouble. You know,

1732
01:34:53,400 --> 01:34:57,160
Speaker 1: here's my philosophy, and that bishop is I would definitely say,

1733
01:34:57,160 --> 01:34:59,080
Speaker 1: if we look at it, eight one hundred thousand dollars

1734
01:34:59,080 --> 01:35:01,719
Speaker 1: a day, it's three hundred and thirty three dollars a month,

1735
01:35:01,960 --> 01:35:04,479
Speaker 1: with the average rent being right around fifteen hundred and

1736
01:35:04,560 --> 01:35:06,880
Speaker 1: twenty five hundred dollars a month, depending on the city

1737
01:35:06,920 --> 01:35:09,840
Speaker 1: that you're in and looking at your expenses, it's going

1738
01:35:09,920 --> 01:35:12,360
Speaker 1: to leave you, possibly depending how much that you have

1739
01:35:12,439 --> 01:35:15,920
Speaker 1: with about three thousand dollars in margin. Right, I do

1740
01:35:16,000 --> 01:35:19,280
Speaker 1: not want in today's day in time, I don't want

1741
01:35:19,439 --> 01:35:22,639
Speaker 1: men to invest so much into tryouts that they cannot

1742
01:35:22,640 --> 01:35:26,479
Speaker 1: show up for the finals. Meaning we spent all this

1743
01:35:26,640 --> 01:35:29,960
Speaker 1: money on this young lady, that young lady, this young lady.

1744
01:35:29,960 --> 01:35:32,680
Speaker 1: Then when we get our wife, we can't provide the

1745
01:35:32,800 --> 01:35:35,320
Speaker 1: lifestyle that we want to provide for her because we

1746
01:35:35,360 --> 01:35:38,000
Speaker 1: spent it all in tryouts. We didn't say we didn't invest,

1747
01:35:38,000 --> 01:35:40,519
Speaker 1: wouldn't properly do it. So my philosophy when it comes

1748
01:35:40,520 --> 01:35:42,680
Speaker 1: to dating is in the first couple of days and

1749
01:35:42,720 --> 01:35:46,120
Speaker 1: again you're married, Bishop. This is not relationship advice because

1750
01:35:46,120 --> 01:35:50,280
Speaker 1: I'm single, right, But my philosophy is no more than

1751
01:35:50,320 --> 01:35:52,639
Speaker 1: one hundred, one hundred fifty dollars in the first few days.

1752
01:35:53,040 --> 01:35:55,040
Speaker 1: Spend that time to get to know where. So that

1753
01:35:55,120 --> 01:35:57,880
Speaker 1: way when you fai philazip okay, she is the one

1754
01:35:58,080 --> 01:35:59,960
Speaker 1: did okay, Bishop, we can step up and start having

1755
01:36:00,080 --> 01:36:02,519
Speaker 1: been a good time right, and start spending little bit

1756
01:36:02,520 --> 01:36:04,280
Speaker 1: more money. But I really want us to be good

1757
01:36:04,479 --> 01:36:07,880
Speaker 1: stewards of our season, whether you're in the single season,

1758
01:36:07,960 --> 01:36:11,040
Speaker 1: engaged season, marriage season, when it comes to money, because

1759
01:36:11,160 --> 01:36:14,360
Speaker 1: my biggest thing what I'm seeing when it comes to divorce,

1760
01:36:14,640 --> 01:36:18,360
Speaker 1: and you've counseled so many people, Bishop, way more than me,

1761
01:36:18,800 --> 01:36:20,880
Speaker 1: But when they come to me, they're coming to me

1762
01:36:21,200 --> 01:36:24,600
Speaker 1: arguing about money, and I'm like, well, wait, what were

1763
01:36:24,640 --> 01:36:26,000
Speaker 1: you doing when you were single? What were you doing

1764
01:36:26,000 --> 01:36:27,640
Speaker 1: when you're singing with your money? So we can just

1765
01:36:27,680 --> 01:36:31,839
Speaker 1: be better stewards with our money when we're single than Bishop.

1766
01:36:31,880 --> 01:36:33,559
Speaker 1: I think it will help the marriage. It's not going

1767
01:36:33,600 --> 01:36:35,799
Speaker 1: to fix it, but it definitely will help the marriage.

1768
01:36:36,000 --> 01:36:40,719
Speaker 2: You know, I basically agree with that. I also think

1769
01:36:41,280 --> 01:36:43,439
Speaker 2: that one of the things that's gone out of style

1770
01:36:43,680 --> 01:36:48,439
Speaker 2: is innovation. Come on, vision, it isn't about how much

1771
01:36:48,520 --> 01:36:50,800
Speaker 2: money you spend, It's about how much fun you have.

1772
01:36:52,240 --> 01:36:56,880
Speaker 2: So let's go horseback riding, don't say that, Let's go

1773
01:36:57,320 --> 01:37:00,760
Speaker 2: let's go camping in the woods, camping, Yeah, let's with

1774
01:37:01,920 --> 01:37:05,879
Speaker 2: flies around, yeah yeah, yeah, yeah yeah yeah. Let's let's

1775
01:37:06,000 --> 01:37:09,800
Speaker 2: let's go someplace that neither one of us would never

1776
01:37:10,200 --> 01:37:15,000
Speaker 2: ever go to experience something we would never ever experience,

1777
01:37:15,800 --> 01:37:18,160
Speaker 2: to learn something about each other that we would never

1778
01:37:18,240 --> 01:37:22,839
Speaker 2: ever learn. Because yes, sir, because if all I learned

1779
01:37:23,520 --> 01:37:26,559
Speaker 2: is how much money you got. Yeah, I'm not marrying

1780
01:37:26,560 --> 01:37:30,520
Speaker 2: your checkbooks, Bishop, I'm marrying your creativity.

1781
01:37:31,640 --> 01:37:33,080
Speaker 1: Bishop. You know I got in trouble.

1782
01:37:33,080 --> 01:37:33,200
Speaker 2: One.

1783
01:37:33,280 --> 01:37:35,080
Speaker 1: I can't say it in trouble. One of the best

1784
01:37:35,720 --> 01:37:39,720
Speaker 1: days that I did was groupon thirty five dollars and

1785
01:37:39,800 --> 01:37:41,600
Speaker 1: she never knew. But then when I told her how

1786
01:37:41,680 --> 01:37:46,120
Speaker 1: much she was, I didn't see her again. We'll leave it.

1787
01:37:46,120 --> 01:37:51,760
Speaker 2: There, okay, which is a good thing. It could be,

1788
01:37:51,880 --> 01:37:55,559
Speaker 2: which is is a good thing. If if, if, if

1789
01:37:56,640 --> 01:38:03,000
Speaker 2: finances deter you that if we ever have a struggle,

1790
01:38:03,120 --> 01:38:05,880
Speaker 2: you will leave me. Then, So if you're going to

1791
01:38:06,000 --> 01:38:07,040
Speaker 2: leave me, leave me now.

1792
01:38:08,000 --> 01:38:10,639
Speaker 1: I think my biggest thing, Bishop, is I just want

1793
01:38:10,640 --> 01:38:12,519
Speaker 1: God to see that I could be a good story

1794
01:38:12,520 --> 01:38:15,519
Speaker 1: of my finances here and if I practice it during

1795
01:38:15,520 --> 01:38:18,280
Speaker 1: the season, it's going to flow over into my marriage.

1796
01:38:18,360 --> 01:38:21,840
Speaker 2: Yeah, I'm not see understand this. I'm not talking about

1797
01:38:21,880 --> 01:38:25,000
Speaker 2: being cheaper, Cindya, I've never been neither breed. I'm talking

1798
01:38:25,040 --> 01:38:28,880
Speaker 2: about being creative. I'm talking about being original. I'm talking

1799
01:38:28,920 --> 01:38:32,840
Speaker 2: about train rides. I'm talking about doing things that other

1800
01:38:32,880 --> 01:38:35,920
Speaker 2: people don't do, that are cool, that are smart. I'm

1801
01:38:35,920 --> 01:38:39,440
Speaker 2: talking about going out to the lake with a basket

1802
01:38:39,720 --> 01:38:42,959
Speaker 2: and some music. And listening at some music and having

1803
01:38:43,000 --> 01:38:46,200
Speaker 2: a nice stning. It doesn't always have to be a

1804
01:38:46,520 --> 01:38:48,880
Speaker 2: seven star hotel restaurant.

1805
01:38:48,960 --> 01:38:52,599
Speaker 1: Yes, it doesn't have to be that all the time, yes, sir.

1806
01:38:52,640 --> 01:38:57,439
Speaker 2: And I think sometimes what makes marriages, helps marriages to

1807
01:38:57,600 --> 01:39:00,640
Speaker 2: last is innovation and antipathy.

1808
01:39:00,840 --> 01:39:04,120
Speaker 1: Yes, sir, would you agree Bishop that if you start

1809
01:39:04,120 --> 01:39:06,880
Speaker 1: off strong in the very beginning, now you have to

1810
01:39:07,080 --> 01:39:09,280
Speaker 1: you got to beat that moving forward, and then that

1811
01:39:09,360 --> 01:39:10,640
Speaker 1: it hurts you financially.

1812
01:39:10,960 --> 01:39:15,240
Speaker 2: You know, it's so funny because the emphasis on capital

1813
01:39:15,439 --> 01:39:21,479
Speaker 2: is new. We didn't have that in our day. In

1814
01:39:21,560 --> 01:39:25,320
Speaker 2: our day, most and generally the man was the provider. Yes, okay.

1815
01:39:25,720 --> 01:39:31,040
Speaker 2: So we weren't in a gender war to see who

1816
01:39:31,080 --> 01:39:36,880
Speaker 2: made the most money. We were in a partnership and

1817
01:39:37,040 --> 01:39:40,599
Speaker 2: we're still in a partnership today. Fact. Okay. So there

1818
01:39:40,600 --> 01:39:42,920
Speaker 2: are certain things my wife does better than me, sir,

1819
01:39:43,560 --> 01:39:47,559
Speaker 2: I want her to do them, Okay, please do them?

1820
01:39:47,600 --> 01:39:47,960
Speaker 1: Please.

1821
01:39:48,160 --> 01:39:50,160
Speaker 2: There are other things that I do better than her.

1822
01:39:50,880 --> 01:39:53,280
Speaker 2: She wants me to do them, and we make a

1823
01:39:53,400 --> 01:39:57,120
Speaker 2: rule of not treading on each other's territory. So if

1824
01:39:57,160 --> 01:40:01,960
Speaker 2: she's in charge of this event, don't bring the questions

1825
01:40:02,000 --> 01:40:05,240
Speaker 2: to me. I direct them to her. Because that's not

1826
01:40:05,280 --> 01:40:12,280
Speaker 2: going to work out well. Respecting the partnership creates a

1827
01:40:12,360 --> 01:40:17,400
Speaker 2: teamwork from which a family is born, from which a

1828
01:40:17,479 --> 01:40:22,160
Speaker 2: community is born, from which a country is developed. But

1829
01:40:22,280 --> 01:40:24,920
Speaker 2: if you don't get down there on that ground level

1830
01:40:25,120 --> 01:40:31,879
Speaker 2: zero of everything not being transactional, and we become marriage

1831
01:40:31,960 --> 01:40:36,840
Speaker 2: becomes about capital alone, and whoever makes the most money

1832
01:40:36,920 --> 01:40:43,240
Speaker 2: is the boss. What happens if you get sick, What

1833
01:40:44,080 --> 01:40:48,000
Speaker 2: happens if you develop a disease? What happens if an affliction?

1834
01:40:48,160 --> 01:40:50,400
Speaker 2: So let's not have the vowels. Let's get rid of

1835
01:40:50,439 --> 01:40:52,880
Speaker 2: all the vowels, because none of the vowels are going

1836
01:40:52,960 --> 01:40:54,919
Speaker 2: to fit if the paycheck stops.

1837
01:40:55,400 --> 01:40:56,920
Speaker 1: This should be talking good.

1838
01:40:57,720 --> 01:41:02,000
Speaker 2: Three hundred and fifty thousand women lost their job their

1839
01:41:02,320 --> 01:41:05,280
Speaker 2: job in the last couple of months. Yes, sir, And

1840
01:41:05,400 --> 01:41:09,360
Speaker 2: so if it's about money, the kids and the man

1841
01:41:09,360 --> 01:41:09,519
Speaker 2: are go.

1842
01:41:11,000 --> 01:41:13,800
Speaker 1: You know a b and please quip if I'm wrong,

1843
01:41:14,840 --> 01:41:17,559
Speaker 1: But would you say that in today's day and time,

1844
01:41:18,000 --> 01:41:22,559
Speaker 1: if we could really partner together, understand her strength, understand

1845
01:41:22,600 --> 01:41:24,760
Speaker 1: my strength, we come together and we put all of

1846
01:41:24,760 --> 01:41:28,600
Speaker 1: our resources into one bucket. This generation we have the

1847
01:41:28,640 --> 01:41:32,960
Speaker 1: capability of building wealth faster than your generation. Oh, absolutely,

1848
01:41:33,040 --> 01:41:37,080
Speaker 1: because your generation, you were the provider. Yeah, this generation

1849
01:41:37,400 --> 01:41:40,439
Speaker 1: we're seeing ladies are educated. They were once the fastest

1850
01:41:40,439 --> 01:41:44,240
Speaker 1: growing entrepreneur. So it's like, wait a minute, Okay, I'm

1851
01:41:44,240 --> 01:41:45,920
Speaker 1: gonna step up and do my part as a man.

1852
01:41:46,479 --> 01:41:48,760
Speaker 1: But the gifts and the talents that God gave you,

1853
01:41:48,800 --> 01:41:51,480
Speaker 1: if it's generating income, let's bring all of our resources

1854
01:41:51,479 --> 01:41:54,640
Speaker 1: together and let's strategize. I do believe that, you know,

1855
01:41:55,439 --> 01:41:58,600
Speaker 1: the living, the living should be based based off of

1856
01:41:58,680 --> 01:42:02,240
Speaker 1: one set of income, right, But how do we strategize

1857
01:42:02,240 --> 01:42:05,600
Speaker 1: again and we build wealth together because we could do

1858
01:42:05,640 --> 01:42:08,120
Speaker 1: it so much faster and get so much more quicker

1859
01:42:08,120 --> 01:42:10,880
Speaker 1: than our parents and grandparents, so we can set up

1860
01:42:10,880 --> 01:42:14,280
Speaker 1: our children. But I just think in this generation is

1861
01:42:14,280 --> 01:42:16,120
Speaker 1: to gender wars. I don't want to do this. I

1862
01:42:16,160 --> 01:42:18,240
Speaker 1: don't want to do that. Or guys, we just want

1863
01:42:18,240 --> 01:42:21,040
Speaker 1: to spend a whole lot of money on days. But Bishop,

1864
01:42:21,160 --> 01:42:24,479
Speaker 1: and I'll say this, I'm guilty of it. I bought

1865
01:42:24,479 --> 01:42:27,479
Speaker 1: a whole car because I wanted to impress a woman.

1866
01:42:28,800 --> 01:42:33,360
Speaker 1: I bought a whole car, and she gone gone, she

1867
01:42:33,479 --> 01:42:36,720
Speaker 1: got in my car. It was paid for, Bishop, I

1868
01:42:36,760 --> 01:42:41,960
Speaker 1: financed that one, paid it off. I paid it off

1869
01:42:42,000 --> 01:42:46,960
Speaker 1: over four years had no AC and she said, how

1870
01:42:46,960 --> 01:42:48,560
Speaker 1: are you Anthony nil? You ain't got no a C.

1871
01:42:51,640 --> 01:42:53,599
Speaker 1: And I was like in my head, I was like,

1872
01:42:54,880 --> 01:42:57,400
Speaker 1: how am i Anthony on nil with no AC? Then

1873
01:42:57,560 --> 01:43:00,880
Speaker 1: next day went and bought a car the very next

1874
01:43:00,960 --> 01:43:04,479
Speaker 1: day and it wasn't in my budget, and I said,

1875
01:43:04,520 --> 01:43:08,600
Speaker 1: what am I doing? And the very next week she

1876
01:43:08,720 --> 01:43:11,920
Speaker 1: went back to her her son's father, and I done

1877
01:43:11,960 --> 01:43:14,720
Speaker 1: bought the car. And I just think at the end

1878
01:43:14,720 --> 01:43:16,840
Speaker 1: of the day, when we have a vision, when we

1879
01:43:16,880 --> 01:43:20,559
Speaker 1: have a budget, when we have a strategy, we have

1880
01:43:20,640 --> 01:43:23,360
Speaker 1: to learn to stick to that strategy no matter who

1881
01:43:23,400 --> 01:43:25,559
Speaker 1: comes into it. Whoever comes into it should help it,

1882
01:43:25,600 --> 01:43:30,479
Speaker 1: whether that's relationship, business, partner, job, careers, whatever that is,

1883
01:43:30,880 --> 01:43:33,320
Speaker 1: it should help you catapult forward. And when I ended

1884
01:43:33,400 --> 01:43:35,760
Speaker 1: up doing Bishop, I ended up selling that car and

1885
01:43:35,840 --> 01:43:38,200
Speaker 1: I went back down to just a regular cheap cash

1886
01:43:38,240 --> 01:43:40,519
Speaker 1: car because I didn't have any assets at the times.

1887
01:43:40,560 --> 01:43:44,000
Speaker 1: I didn't I wasn't a homeowner, I wasn't investing properly.

1888
01:43:44,439 --> 01:43:47,560
Speaker 1: So I sold that and started building things correctly.

1889
01:43:48,080 --> 01:43:52,680
Speaker 2: You know, what what we're talking about is values. Mm mm,

1890
01:43:52,800 --> 01:43:57,840
Speaker 2: what do you value? And uh I if if it's

1891
01:43:57,960 --> 01:44:03,479
Speaker 2: not me, yes, sir, if it's not me. Okay, We're

1892
01:44:03,479 --> 01:44:07,320
Speaker 2: not building off of anything that's gonna last because the

1893
01:44:07,360 --> 01:44:12,640
Speaker 2: car's not gonna last that long. Okay, okay, it's got

1894
01:44:12,800 --> 01:44:16,920
Speaker 2: to be about her. Yes, So when we had the

1895
01:44:16,960 --> 01:44:19,920
Speaker 2: car wreck and her her ankle was broken, they said

1896
01:44:19,920 --> 01:44:26,960
Speaker 2: she'd never walk again. I didn't walk away. When I

1897
01:44:27,000 --> 01:44:31,120
Speaker 2: had a massive heart attack. She sat beside me for

1898
01:44:31,240 --> 01:44:35,960
Speaker 2: three days and nights and never left my side. Every

1899
01:44:36,000 --> 01:44:38,200
Speaker 2: time I looked up, she was looking down at me.

1900
01:44:38,360 --> 01:44:43,240
Speaker 2: Come on, you're gonna run into so many hardships, Burying children,

1901
01:44:43,920 --> 01:44:48,000
Speaker 2: burying your parents, Choosing somebody whose hand you want to

1902
01:44:48,040 --> 01:44:51,519
Speaker 2: hold when you lower your mama's body into the ground,

1903
01:44:52,040 --> 01:44:58,559
Speaker 2: that's what we're talking about. Who whose hand you want

1904
01:44:58,600 --> 01:45:03,599
Speaker 2: to hold when you got a breach, birth or still born.

1905
01:45:06,200 --> 01:45:08,920
Speaker 2: Who do you want to be with you when they

1906
01:45:09,280 --> 01:45:12,200
Speaker 2: accuse you of something on your job and you end

1907
01:45:12,320 --> 01:45:16,599
Speaker 2: up going to court and you can't sleep for three

1908
01:45:16,680 --> 01:45:20,639
Speaker 2: days from four days. Who's going to be the person

1909
01:45:21,280 --> 01:45:25,719
Speaker 2: who sticks with you when you get laid off, when

1910
01:45:25,720 --> 01:45:30,680
Speaker 2: you get fired, when you're on dialysis. You're not going

1911
01:45:30,760 --> 01:45:37,320
Speaker 2: to stay thirty and fine and all of that stuff

1912
01:45:37,439 --> 01:45:41,280
Speaker 2: is going to change, Yes, sir, and I think we

1913
01:45:41,360 --> 01:45:45,439
Speaker 2: don't have the right values. Now, you know, we have

1914
01:45:45,520 --> 01:45:48,640
Speaker 2: our preferences. We all do. And you want somebody that

1915
01:45:48,640 --> 01:45:52,000
Speaker 2: you're attracted to, But that's not the only thing to consider,

1916
01:45:52,360 --> 01:45:57,920
Speaker 2: because you can be an attractive food. Okay, you can

1917
01:45:57,960 --> 01:46:01,400
Speaker 2: be an attractive food and end up drowning all the

1918
01:46:01,520 --> 01:46:07,320
Speaker 2: kids in the bathdab okay, yes, crazy, it's not prejudice necessary.

1919
01:46:07,360 --> 01:46:09,040
Speaker 1: It will go anywhere, yes, sir.

1920
01:46:09,560 --> 01:46:11,639
Speaker 2: So there's a whole lot that we have to think

1921
01:46:11,680 --> 01:46:14,559
Speaker 2: about when we start talking about values, Yes, sir, And

1922
01:46:14,640 --> 01:46:16,600
Speaker 2: I think a lot of those values start with the

1923
01:46:16,600 --> 01:46:19,280
Speaker 2: inside and flow out to the outside and not the

1924
01:46:19,360 --> 01:46:27,599
Speaker 2: other way around. Good Chapter ten, Best Investment. Thinking back

1925
01:46:27,600 --> 01:46:31,599
Speaker 2: over your life and all your experiences and the risk

1926
01:46:31,680 --> 01:46:34,680
Speaker 2: and the fear and the stand up all night and

1927
01:46:34,760 --> 01:46:39,240
Speaker 2: checking numbers and reading and doing the research. What was

1928
01:46:39,280 --> 01:46:42,000
Speaker 2: the best investment you ever made in your life? And

1929
01:46:42,120 --> 01:46:44,400
Speaker 2: why do you pick that investment? Now?

1930
01:46:44,439 --> 01:46:46,720
Speaker 1: Are you going to ask me from a financial perspective

1931
01:46:46,800 --> 01:46:49,559
Speaker 1: or you just period which one you want?

1932
01:46:49,680 --> 01:46:52,800
Speaker 2: Let's go financial. We've been talking financial.

1933
01:46:52,479 --> 01:46:58,080
Speaker 1: Land, land land the best investment. Reason why I say

1934
01:46:58,120 --> 01:47:01,880
Speaker 1: that is because when I think of investing, it's not

1935
01:47:01,920 --> 01:47:09,120
Speaker 1: an immediate return for me. It is longevity. When God left,

1936
01:47:09,120 --> 01:47:11,000
Speaker 1: he couldn't make any more land. We can't make any

1937
01:47:11,000 --> 01:47:14,760
Speaker 1: more land. And I've been around again. I've been in

1938
01:47:14,840 --> 01:47:20,200
Speaker 1: rooms with people who paid ten million dollars for land

1939
01:47:20,640 --> 01:47:24,679
Speaker 1: that a great ground for the bought thirty years ago,

1940
01:47:24,840 --> 01:47:28,840
Speaker 1: and he made has spent two hundred thousand. And I'm like,

1941
01:47:29,720 --> 01:47:33,920
Speaker 1: when I leave, I have land, and inside my state

1942
01:47:34,080 --> 01:47:38,160
Speaker 1: Bishop my children can't touch that. Their children can touch

1943
01:47:38,200 --> 01:47:41,840
Speaker 1: the land, And it feels so good to me that

1944
01:47:42,200 --> 01:47:45,000
Speaker 1: here it is. Net Worth is not just about you know,

1945
01:47:45,400 --> 01:47:47,960
Speaker 1: the funds you can touch, It is about what all

1946
01:47:48,040 --> 01:47:51,240
Speaker 1: assets do you have, So that land still goes towards

1947
01:47:51,280 --> 01:47:53,960
Speaker 1: my net worth. But it feels so good to me

1948
01:47:54,680 --> 01:47:58,080
Speaker 1: that I got the education, that my children's children children

1949
01:47:58,080 --> 01:48:01,160
Speaker 1: would know my name because I left them something. And

1950
01:48:01,200 --> 01:48:03,679
Speaker 1: to me, that is one of the best investments ever made,

1951
01:48:03,680 --> 01:48:06,639
Speaker 1: because I smile on the inside knowing that when I leave,

1952
01:48:07,880 --> 01:48:11,200
Speaker 1: young people who I've never met will know my name.

1953
01:48:11,960 --> 01:48:16,320
Speaker 2: So if land and or real estate, it's the best

1954
01:48:16,360 --> 01:48:19,160
Speaker 2: investment you ever made. And if you're going to take

1955
01:48:19,200 --> 01:48:24,719
Speaker 2: that seriously listening at our podcast today, investigate the land

1956
01:48:24,800 --> 01:48:28,160
Speaker 2: to make sure that the long range plans of the

1957
01:48:28,160 --> 01:48:31,080
Speaker 2: city or the town that you live in makes that

1958
01:48:31,160 --> 01:48:35,080
Speaker 2: a desirable spot to own, Yes, sir, unless you end

1959
01:48:35,160 --> 01:48:38,599
Speaker 2: up owning land that's in a floodplain. Yes, sir, And

1960
01:48:38,680 --> 01:48:42,400
Speaker 2: you've got one hundred acres of land you cannot use. Yes,

1961
01:48:42,520 --> 01:48:46,080
Speaker 2: that comes from not doing your research. But at your core,

1962
01:48:46,680 --> 01:48:49,000
Speaker 2: I agree with you. Yes, sir, I agree with you.

1963
01:48:49,439 --> 01:48:55,040
Speaker 2: Dirt over cash all day long, all day, all day long,

1964
01:48:55,240 --> 01:48:57,960
Speaker 2: all day. There is no end to the value, Yes, sir,

1965
01:48:58,040 --> 01:49:02,240
Speaker 2: that you can get and by by when it's cheap, Yes, sir,

1966
01:49:02,720 --> 01:49:10,640
Speaker 2: and sell it when it's hot. Oh my gosh, you

1967
01:49:10,680 --> 01:49:11,599
Speaker 2: got real pleasure.

1968
01:49:11,880 --> 01:49:13,760
Speaker 1: Thank you, thank you you.

1969
01:49:15,200 --> 01:49:17,679
Speaker 2: Hey, everybody, I want to take this time to thank

1970
01:49:17,760 --> 01:49:22,480
Speaker 2: you for watching the Next Chapter podcast. If this conversation

1971
01:49:22,680 --> 01:49:27,160
Speaker 2: inspired you, helped you reflect on an idea, or spark

1972
01:49:27,240 --> 01:49:31,439
Speaker 2: something new inside of you, make sure to like, comment,

1973
01:49:31,880 --> 01:49:38,679
Speaker 2: and subscribe so you don't miss future episodes. Remember, life

1974
01:49:38,840 --> 01:49:42,960
Speaker 2: isn't about how you begin, it's about how you finished strong,

1975
01:49:43,680 --> 01:49:49,639
Speaker 2: So start your next chapter with us right here. Every

1976
01:49:49,680 --> 01:49:50,120
Speaker 2: week