1
00:00:03,320 --> 00:00:05,000
Speaker 1: What's up? His way up at ante la yee for

2
00:00:05,080 --> 00:00:08,360
Speaker 1: a Wealth Wednesday and Stacey tusdam my partner's here with me.

3
00:00:08,720 --> 00:00:13,480
Speaker 2: Happy Wealth Wednesdays, everybody. It is National Financial Wellness Month

4
00:00:14,120 --> 00:00:17,639
Speaker 2: and we are bringing you what Forbes calls the cultural

5
00:00:17,760 --> 00:00:20,639
Speaker 2: kings of financial literacy. They need no introduction.

6
00:00:21,920 --> 00:00:22,360
Speaker 1: He liked that.

7
00:00:22,480 --> 00:00:24,880
Speaker 2: I like that, you Leisia like you saying a lot.

8
00:00:24,920 --> 00:00:27,240
Speaker 3: I can get a T shirt.

9
00:00:29,400 --> 00:00:31,080
Speaker 1: Thank you guys for joining us.

10
00:00:31,400 --> 00:00:33,320
Speaker 3: Thank you for having us. It's a privilege and an

11
00:00:33,360 --> 00:00:34,400
Speaker 3: honor to be amongst you.

12
00:00:34,640 --> 00:00:39,280
Speaker 2: And we are celebrating today because yesterday, Yeah, you deserve

13
00:00:39,360 --> 00:00:42,760
Speaker 2: to be rich. Came out or so excited for you.

14
00:00:42,920 --> 00:00:44,520
Speaker 1: This is awesome, beautiful.

15
00:00:44,280 --> 00:00:45,760
Speaker 2: Really really a great book.

16
00:00:46,000 --> 00:00:48,239
Speaker 1: I got a little advanced copy in and managed to

17
00:00:48,280 --> 00:00:50,480
Speaker 1: read most of it. Yeah, I did.

18
00:00:51,240 --> 00:00:52,080
Speaker 4: You're a fast reader.

19
00:00:52,280 --> 00:00:54,040
Speaker 1: I am. I'm a speed reader and you know I

20
00:00:54,120 --> 00:00:55,640
Speaker 1: love to read. I read all the time. So as

21
00:00:55,640 --> 00:00:57,240
Speaker 1: soon as I got my book in the mail, I

22
00:00:57,320 --> 00:01:00,920
Speaker 1: was like, Okay, let's dive into this. Yeah, what do

23
00:01:00,920 --> 00:01:03,840
Speaker 1: you think I mean? I think you know, we do

24
00:01:03,920 --> 00:01:06,200
Speaker 1: Wealth Wednesdays, and there's topics on here that I'm so

25
00:01:06,360 --> 00:01:09,960
Speaker 1: familiar with because we also like similar to what you

26
00:01:10,000 --> 00:01:12,400
Speaker 1: guys do. We definitely are also always trying to make

27
00:01:12,440 --> 00:01:15,920
Speaker 1: sure that we are giving whatever financial information that we

28
00:01:15,959 --> 00:01:19,839
Speaker 1: can to people, bringing on experts, you know, referring bringing

29
00:01:19,880 --> 00:01:23,479
Speaker 1: people up who also can help people get ahead, because

30
00:01:23,480 --> 00:01:25,760
Speaker 1: we do think that we all not just want to

31
00:01:25,760 --> 00:01:29,000
Speaker 1: be rich, deserve to be rich, right.

32
00:01:29,040 --> 00:01:32,720
Speaker 2: My background is financial behavior, six years of research into

33
00:01:32,720 --> 00:01:36,640
Speaker 2: what drives financial behavior. And I love that you get

34
00:01:36,640 --> 00:01:40,280
Speaker 2: into the how important being aware of that trauma and

35
00:01:40,319 --> 00:01:42,760
Speaker 2: everything is. And straight off the bat from the title

36
00:01:42,800 --> 00:01:45,280
Speaker 2: of your book, you deserve to be rich? Why the

37
00:01:45,319 --> 00:01:48,480
Speaker 2: word deserve and what did you want to convey with that?

38
00:01:49,200 --> 00:01:50,840
Speaker 5: Yeah, I think a lot of times people you know,

39
00:01:50,920 --> 00:01:54,800
Speaker 5: coming from working class environment, so you don't feel that

40
00:01:55,080 --> 00:01:59,000
Speaker 5: you're actually worthy of riches. You think that it's out

41
00:01:59,040 --> 00:02:01,840
Speaker 5: of the realm of possibility. You know, the word realistic

42
00:02:01,960 --> 00:02:04,720
Speaker 5: is a very dangerous word in the English language. And

43
00:02:04,880 --> 00:02:09,000
Speaker 5: a lot of times we're put in situations where we

44
00:02:09,520 --> 00:02:13,480
Speaker 5: think that the middle of the road is the end journey,

45
00:02:13,720 --> 00:02:15,960
Speaker 5: like that's like the highest.

46
00:02:15,680 --> 00:02:17,639
Speaker 4: Level that we should we should have achieved to.

47
00:02:17,760 --> 00:02:21,480
Speaker 5: Right like, and we never really think about becoming wealthy

48
00:02:21,560 --> 00:02:24,000
Speaker 5: or becoming rich because a lot of times, you know,

49
00:02:24,080 --> 00:02:26,560
Speaker 5: even going back to when people say, like, you know,

50
00:02:27,200 --> 00:02:30,960
Speaker 5: money's are really evil and it's just a lot of

51
00:02:31,080 --> 00:02:34,400
Speaker 5: negative connotation. A lot of times that has been given

52
00:02:34,440 --> 00:02:38,800
Speaker 5: to wealth. So a lot of times people don't aspire

53
00:02:38,880 --> 00:02:41,280
Speaker 5: to be to even be wealthy because they don't think

54
00:02:41,320 --> 00:02:45,480
Speaker 5: that they are capable of it. And in my brain,

55
00:02:45,520 --> 00:02:47,440
Speaker 5: that means that you don't think you do you deserve it.

56
00:02:47,720 --> 00:02:50,000
Speaker 5: So the first thing we're gonna talk about stocks and

57
00:02:50,040 --> 00:02:52,120
Speaker 5: real estate and credit and all that stuff. But the

58
00:02:52,160 --> 00:02:53,680
Speaker 5: first thing that we had to do is actually get

59
00:02:53,680 --> 00:02:58,760
Speaker 5: people to understand that they actually are worthy of being rich,

60
00:02:59,240 --> 00:03:02,639
Speaker 5: that they deserve to be rich, That it's not an

61
00:03:02,680 --> 00:03:07,440
Speaker 5: impossible dream, it's not something that's so far fetched. It's

62
00:03:07,440 --> 00:03:10,680
Speaker 5: not something that's only for entertainers and athletes like that.

63
00:03:10,760 --> 00:03:14,359
Speaker 5: Every average day person that comes from you know, any

64
00:03:14,480 --> 00:03:19,920
Speaker 5: any background can achieve financial freedom for financial success. So

65
00:03:20,639 --> 00:03:25,560
Speaker 5: read wiring the mindset of people is extremely important.

66
00:03:25,280 --> 00:03:27,960
Speaker 1: Yeh, because they would say, like, you know, money can't

67
00:03:28,000 --> 00:03:31,160
Speaker 1: buy you happiness. A lot of times people equate money

68
00:03:31,200 --> 00:03:34,360
Speaker 1: with like, like you said, with being evil and not

69
00:03:34,480 --> 00:03:37,440
Speaker 1: something that you should aspire toward. But why shouldn't we

70
00:03:37,560 --> 00:03:39,640
Speaker 1: aspire toward that? And why shouldn't we feel like we

71
00:03:39,800 --> 00:03:41,680
Speaker 1: deserve to do that.

72
00:03:42,120 --> 00:03:44,320
Speaker 3: Yeah, I think it goes back to like the first

73
00:03:44,360 --> 00:03:44,800
Speaker 3: line of book.

74
00:03:44,800 --> 00:03:46,680
Speaker 6: I'm always interested when people open it and see the

75
00:03:46,680 --> 00:03:49,280
Speaker 6: first line is the American dream is a lot, right,

76
00:03:49,280 --> 00:03:51,480
Speaker 6: because we've been told, you know, it's the white pick

77
00:03:51,560 --> 00:03:53,160
Speaker 6: of fence, and it's the big house, and it's the

78
00:03:53,160 --> 00:03:55,680
Speaker 6: two and a half kids, which is impossible, and it's

79
00:03:55,720 --> 00:03:59,280
Speaker 6: the dog. And you realize that dreams aren't monolithic, right,

80
00:03:59,320 --> 00:04:02,400
Speaker 6: Like everybody dream is not the same, right, And so

81
00:04:02,520 --> 00:04:05,040
Speaker 6: people fall into that happen like this is what I

82
00:04:05,080 --> 00:04:06,120
Speaker 6: have to do. This is what I have to do.

83
00:04:06,360 --> 00:04:08,720
Speaker 6: I have to work harder to obtain it. And if

84
00:04:08,760 --> 00:04:11,920
Speaker 6: you study wealth, people work smart more than they work hard.

85
00:04:12,840 --> 00:04:15,040
Speaker 6: But it's a mindset, right, Like we have to see

86
00:04:15,040 --> 00:04:16,560
Speaker 6: it and we have to believe it. But we always

87
00:04:16,640 --> 00:04:19,400
Speaker 6: have to be around it, and in our communities, too

88
00:04:19,480 --> 00:04:23,120
Speaker 6: far and too many times we are not around it.

89
00:04:23,200 --> 00:04:23,320
Speaker 3: Right.

90
00:04:23,360 --> 00:04:25,960
Speaker 6: We don't have close proximity to what wealth looks like.

91
00:04:26,279 --> 00:04:28,360
Speaker 6: So the first thing and to get wealth is well,

92
00:04:28,400 --> 00:04:29,960
Speaker 6: somebody gotta get rich, right. We always say, like you

93
00:04:30,000 --> 00:04:32,080
Speaker 6: only get somebody to do it once, and then we

94
00:04:32,120 --> 00:04:34,240
Speaker 6: can become wealthy and we can make it sustainable.

95
00:04:34,240 --> 00:04:35,680
Speaker 3: We can make it generational, but.

96
00:04:35,600 --> 00:04:38,159
Speaker 6: It starts with that mindset like all right, let's debunk everything,

97
00:04:38,279 --> 00:04:40,680
Speaker 6: let's retrain, let's rethink, let's start over.

98
00:04:41,040 --> 00:04:42,760
Speaker 3: So that's what this book feels like for everybody.

99
00:04:42,920 --> 00:04:45,960
Speaker 2: A lot of people talk about changing your mindset without

100
00:04:47,680 --> 00:04:49,920
Speaker 2: knowing how to show people how to actually do that.

101
00:04:50,360 --> 00:04:53,040
Speaker 2: But if you there's this this interesting dichotomy here. If

102
00:04:53,040 --> 00:04:56,240
Speaker 2: you look at the black financial story, just even going

103
00:04:56,279 --> 00:04:59,680
Speaker 2: back to slavery, Lincoln freed the slaves. Within ten years,

104
00:04:59,680 --> 00:05:02,680
Speaker 2: those only freed slaves had a mass sixty million dollars

105
00:05:03,000 --> 00:05:06,440
Speaker 2: in the freedman's bank. That money got stolen from them.

106
00:05:06,720 --> 00:05:10,280
Speaker 2: Then we rebuilt, and you had this whole business age

107
00:05:10,360 --> 00:05:12,680
Speaker 2: and you know, you saw things like black Wall Street

108
00:05:12,720 --> 00:05:16,680
Speaker 2: and stuff, and that was taken from us. And we rebuilt,

109
00:05:16,680 --> 00:05:20,080
Speaker 2: and we rebuilt and we rebuilt. We are actually an

110
00:05:20,080 --> 00:05:26,320
Speaker 2: incredible story of resilience. But how do we reframe that?

111
00:05:27,000 --> 00:05:29,080
Speaker 2: How do you help people? You know, see that in

112
00:05:29,120 --> 00:05:31,440
Speaker 2: our story because all we see is the trauma of

113
00:05:31,520 --> 00:05:31,880
Speaker 2: the pain.

114
00:05:32,480 --> 00:05:35,640
Speaker 1: We see that DEI is people that you know, and

115
00:05:35,760 --> 00:05:38,640
Speaker 1: that's getting scale back. But people are thinking that the

116
00:05:38,680 --> 00:05:41,920
Speaker 1: way that they are defining DEI is so not what

117
00:05:42,000 --> 00:05:42,920
Speaker 1: the purpose of it is.

118
00:05:43,400 --> 00:05:44,880
Speaker 3: Yeah, I think you addressed a head on.

119
00:05:45,120 --> 00:05:49,440
Speaker 6: I think for so long we haven't had conversations around trauma, right.

120
00:05:49,360 --> 00:05:51,760
Speaker 3: Like why are we putting money under the match? Right?

121
00:05:51,800 --> 00:05:54,480
Speaker 3: Like why are we just bank? Exactly? Well, where's that

122
00:05:54,600 --> 00:05:57,640
Speaker 3: mistrust come from? Right? So if you understand the Freedman's bank,

123
00:05:57,680 --> 00:06:01,000
Speaker 3: you understand how money was stolen from us in railroads.

124
00:06:01,000 --> 00:06:02,680
Speaker 6: And we talk about Black Wall Street all the time,

125
00:06:02,960 --> 00:06:04,960
Speaker 6: but this lingering effects with that, right, So we got

126
00:06:04,960 --> 00:06:06,960
Speaker 6: to meet that head on. I look at this this

127
00:06:07,080 --> 00:06:09,480
Speaker 6: body of work as like, you know, they talk about

128
00:06:09,480 --> 00:06:12,839
Speaker 6: social injustice. I feel like this is financial justice, right, Like,

129
00:06:13,000 --> 00:06:15,719
Speaker 6: this is the step by step let's talk about the traumas,

130
00:06:15,920 --> 00:06:17,839
Speaker 6: let's come up with solutions, and let's figure out how

131
00:06:17,880 --> 00:06:20,040
Speaker 6: we're going to execute on it. And so we're starting

132
00:06:20,040 --> 00:06:22,680
Speaker 6: to see that, right, Like people are gaining wealth at

133
00:06:22,720 --> 00:06:25,880
Speaker 6: a different rate now, and it's not because they're working harder,

134
00:06:25,960 --> 00:06:28,400
Speaker 6: but they're actually learning how to invest, right, they're learning

135
00:06:28,440 --> 00:06:34,360
Speaker 6: how to create business, create create business. Right, there's multiple

136
00:06:34,360 --> 00:06:38,000
Speaker 6: ways to create business, but it's changing, right, And the

137
00:06:38,040 --> 00:06:40,400
Speaker 6: fact that the first thing is like, all right, let's

138
00:06:40,480 --> 00:06:43,640
Speaker 6: realize that this is happening, right, let's come to terms

139
00:06:43,640 --> 00:06:45,600
Speaker 6: with it, but let's come up with a solution to

140
00:06:45,640 --> 00:06:47,200
Speaker 6: figure out how we combat it well.

141
00:06:47,200 --> 00:06:49,000
Speaker 5: And then if you can't convince people of a lot

142
00:06:49,040 --> 00:06:51,039
Speaker 5: of the next best thing is just to confuse the truth.

143
00:06:51,520 --> 00:06:53,839
Speaker 5: So like even this whole dr thing is this distraction

144
00:06:54,400 --> 00:06:58,480
Speaker 5: and it's just it's made to confuse people. The first

145
00:06:58,520 --> 00:07:00,800
Speaker 5: The first thing is is just a light out lie

146
00:07:01,360 --> 00:07:04,760
Speaker 5: that you're lazy and whatever. You don't believe that. Then

147
00:07:04,760 --> 00:07:06,400
Speaker 5: the next thing is that you have a leg up

148
00:07:06,400 --> 00:07:09,040
Speaker 5: because of di which that's actually the furthest thing from

149
00:07:09,040 --> 00:07:11,120
Speaker 5: the truth. If you look at how much money's allocated

150
00:07:11,160 --> 00:07:13,560
Speaker 5: a back businesses, it's less than one percent of venture capital.

151
00:07:13,800 --> 00:07:15,840
Speaker 5: If you look at the fortune five hundred CEOs, it

152
00:07:15,880 --> 00:07:16,760
Speaker 5: is less than one percent.

153
00:07:16,800 --> 00:07:19,160
Speaker 4: That's black. If you look at the amount of people

154
00:07:19,200 --> 00:07:19,720
Speaker 4: that buy.

155
00:07:19,560 --> 00:07:22,880
Speaker 5: Homes, every everything, So where where is the where is

156
00:07:22,920 --> 00:07:25,400
Speaker 5: the leg up? There is no leg up. It's not

157
00:07:25,480 --> 00:07:32,120
Speaker 5: like the narrative that you're achieving success because it's an

158
00:07:32,200 --> 00:07:35,520
Speaker 5: unfair advantage that you have doesn't even make sense when

159
00:07:35,520 --> 00:07:38,320
Speaker 5: you look at it. It's really just to just it's

160
00:07:38,360 --> 00:07:41,120
Speaker 5: really to say, like any there's never supposed to be

161
00:07:41,200 --> 00:07:44,200
Speaker 5: any black person in any level of success. That's what

162
00:07:44,240 --> 00:07:46,880
Speaker 5: they It's the new way to kind of say the

163
00:07:46,960 --> 00:07:49,080
Speaker 5: N word without saying it, because it's like, okay, like

164
00:07:49,080 --> 00:07:51,040
Speaker 5: if you should see if you achieve success, then you

165
00:07:51,040 --> 00:07:53,960
Speaker 5: did it through DI, right, and that just discredits everything

166
00:07:53,960 --> 00:07:57,040
Speaker 5: that you did. So it's really just to keep every

167
00:07:57,080 --> 00:08:01,680
Speaker 5: every person that's black on the ground level. That's the

168
00:08:01,680 --> 00:08:05,240
Speaker 5: whole push of the DI talk. It's not really to

169
00:08:05,280 --> 00:08:08,840
Speaker 5: dismantle DI because there's no DI to dismantle. It's really

170
00:08:09,160 --> 00:08:13,520
Speaker 5: to make sure that there's a permanent underclass in society

171
00:08:14,200 --> 00:08:17,320
Speaker 5: and to make sure that nobody rises up the ranks,

172
00:08:17,360 --> 00:08:19,280
Speaker 5: because if they do rise up the ranks, then that's

173
00:08:19,280 --> 00:08:22,080
Speaker 5: easy to discredit because you don't have to have any facts.

174
00:08:22,120 --> 00:08:23,720
Speaker 5: You can just say d I. If you say it enough,

175
00:08:23,720 --> 00:08:26,520
Speaker 5: people believe it. So it's been said so much that

176
00:08:26,680 --> 00:08:29,760
Speaker 5: now you don't even have to provide any information or

177
00:08:29,880 --> 00:08:32,360
Speaker 5: any proof that somebody's not qualified.

178
00:08:31,880 --> 00:08:32,440
Speaker 4: For their position.

179
00:08:32,480 --> 00:08:34,160
Speaker 5: You could just say, Okay, they only got that position

180
00:08:34,200 --> 00:08:36,720
Speaker 5: because they're black, and now everybody just believes it because

181
00:08:36,760 --> 00:08:39,520
Speaker 5: that's been permeonated, and it's been permonated by the richest

182
00:08:39,520 --> 00:08:41,320
Speaker 5: people in the world. The richest person in the world

183
00:08:41,760 --> 00:08:42,960
Speaker 5: has championed.

184
00:08:42,520 --> 00:08:45,400
Speaker 1: That, so right, you know, it's interesting. This is a

185
00:08:45,400 --> 00:08:47,040
Speaker 1: great time for this book to come out too, with

186
00:08:47,280 --> 00:08:49,920
Speaker 1: elections haven't happened. We're about to have a different president

187
00:08:50,920 --> 00:08:54,320
Speaker 1: coming back into office again. And I do feel like

188
00:08:54,360 --> 00:08:57,880
Speaker 1: a lot of people have been really discouraged about I mean,

189
00:08:57,920 --> 00:08:59,520
Speaker 1: some people think it's a great thing, but some people

190
00:08:59,600 --> 00:09:02,040
Speaker 1: have been discourage about what that looks like for us,

191
00:09:02,559 --> 00:09:06,880
Speaker 1: you know, as far as opportunities, as far as finances,

192
00:09:07,000 --> 00:09:08,840
Speaker 1: what's going on, because right now it is a difficult

193
00:09:08,880 --> 00:09:11,400
Speaker 1: time financially for a lot of people. We see what

194
00:09:11,440 --> 00:09:14,040
Speaker 1: the housing market is like, it's like, you know, the

195
00:09:14,080 --> 00:09:17,840
Speaker 1: lowest amount of transactions happening in like the past thirty

196
00:09:17,960 --> 00:09:20,720
Speaker 1: years or something like that. So and interest rates are

197
00:09:20,720 --> 00:09:22,880
Speaker 1: really high. People are waiting for them to come down.

198
00:09:23,400 --> 00:09:26,160
Speaker 1: And I know you guys also in this book addressed

199
00:09:26,200 --> 00:09:29,480
Speaker 1: like every facet of investing that you can, whether it's

200
00:09:29,480 --> 00:09:31,679
Speaker 1: real estate, whether it's stocks. It shows you all the

201
00:09:31,720 --> 00:09:34,760
Speaker 1: different like eleven different types of sectors. You know. When

202
00:09:34,760 --> 00:09:37,120
Speaker 1: it because I'm not that well versed in certain things,

203
00:09:37,160 --> 00:09:39,680
Speaker 1: like some things, yes, this is you know what I

204
00:09:39,760 --> 00:09:42,240
Speaker 1: focus on. But this book is great because I think

205
00:09:42,320 --> 00:09:46,160
Speaker 1: it lays down at any level for any person, some

206
00:09:46,240 --> 00:09:48,360
Speaker 1: of the foundation for what it is that you may

207
00:09:48,440 --> 00:09:52,360
Speaker 1: need to achieve wealth that you deserve, you know, to have.

208
00:09:52,760 --> 00:09:55,200
Speaker 1: So no matter what level you're at, what knowledge you have,

209
00:09:55,280 --> 00:09:57,160
Speaker 1: there's going to be other things that maybe you're not

210
00:09:57,320 --> 00:09:59,520
Speaker 1: as versed in that something like this can help you with,

211
00:09:59,600 --> 00:10:01,480
Speaker 1: or if you've never done any of these things. You

212
00:10:01,559 --> 00:10:05,800
Speaker 1: have really specific examples of people that could be anybody

213
00:10:06,000 --> 00:10:08,360
Speaker 1: that's reading the book that you're like, Okay, you know,

214
00:10:08,400 --> 00:10:10,760
Speaker 1: here's Julie. She makes forty thousand dollars a year, but

215
00:10:10,800 --> 00:10:12,840
Speaker 1: here's the amount of death that she has. Here's what

216
00:10:12,880 --> 00:10:15,040
Speaker 1: she did to be able to get herself on the

217
00:10:15,120 --> 00:10:17,120
Speaker 1: track to being able to achieve wealth.

218
00:10:17,640 --> 00:10:18,280
Speaker 3: Yeah.

219
00:10:18,360 --> 00:10:20,680
Speaker 6: Yeah, I think it's important. And that was one of

220
00:10:20,679 --> 00:10:22,600
Speaker 6: the goals when we were sitting down, was like, we

221
00:10:22,640 --> 00:10:25,559
Speaker 6: want everybody to identify themselves. And so the characters that

222
00:10:25,600 --> 00:10:27,320
Speaker 6: are in the book, like you said, they could be

223
00:10:27,440 --> 00:10:29,559
Speaker 6: any person. Right, it could have been your brother, it

224
00:10:29,559 --> 00:10:32,400
Speaker 6: could have been your Mom's been your cousin. Right, there's

225
00:10:32,440 --> 00:10:34,439
Speaker 6: a family that has a kid going to college. There's

226
00:10:34,440 --> 00:10:37,200
Speaker 6: a single day, so like, we all know somebody like that.

227
00:10:37,360 --> 00:10:40,439
Speaker 6: So inside that, let's figure out how we can figure

228
00:10:40,440 --> 00:10:43,280
Speaker 6: out the solution inside of the strategies that we're talking about.

229
00:10:43,320 --> 00:10:45,199
Speaker 6: So when you're talking about investing, like somebody might never

230
00:10:45,240 --> 00:10:46,959
Speaker 6: heard of what a stock was, Well, here's what a

231
00:10:47,040 --> 00:10:49,439
Speaker 6: sector is, here's what indexes is. Because if we look

232
00:10:49,480 --> 00:10:53,200
Speaker 6: at wealth, right, there are some similar characteristics.

233
00:10:53,440 --> 00:10:53,600
Speaker 3: Right.

234
00:10:53,679 --> 00:10:56,240
Speaker 6: Either somebody created a company and they own stocking it

235
00:10:56,280 --> 00:10:57,319
Speaker 6: and that's how they become wealthy.

236
00:10:57,320 --> 00:10:58,880
Speaker 3: When we talk about the wealthiest.

237
00:10:58,559 --> 00:11:01,160
Speaker 6: Person in the world, right, us and he owns shares

238
00:11:01,200 --> 00:11:04,440
Speaker 6: a tesla, or they own lands and they have real estate.

239
00:11:04,520 --> 00:11:07,520
Speaker 6: And so these are core principles. I think what's important

240
00:11:07,520 --> 00:11:10,079
Speaker 6: is that those things are important, but the future.

241
00:11:09,840 --> 00:11:10,920
Speaker 3: Of investment is important.

242
00:11:11,120 --> 00:11:13,679
Speaker 6: So we have to talk about what cryptocurrency is that

243
00:11:13,800 --> 00:11:16,320
Speaker 6: we have to evolve and make sure that we're current

244
00:11:16,320 --> 00:11:18,400
Speaker 6: because there hasn't been an asset class like this that's

245
00:11:18,480 --> 00:11:19,559
Speaker 6: ever we've ever seen.

246
00:11:19,679 --> 00:11:21,839
Speaker 1: Yeah, there's so many people that didn't trust it when

247
00:11:21,880 --> 00:11:24,160
Speaker 1: it was first happening, and there were and there were

248
00:11:24,160 --> 00:11:26,640
Speaker 1: some people who were like, let me invest and figure

249
00:11:26,640 --> 00:11:29,319
Speaker 1: it out. And you know, it was fluctuating and there

250
00:11:29,360 --> 00:11:30,720
Speaker 1: was a period of time with the ha ha see

251
00:11:30,720 --> 00:11:33,080
Speaker 1: I told you, you know, no, what was your question?

252
00:11:33,120 --> 00:11:37,000
Speaker 5: You had a question you said about the political landscape, right,

253
00:11:37,080 --> 00:11:39,080
Speaker 5: that people might be what's the question for?

254
00:11:39,200 --> 00:11:40,719
Speaker 1: But I was gonna say a lot of people are

255
00:11:40,720 --> 00:11:43,280
Speaker 1: concerned about what's going to happen on them now, and

256
00:11:43,320 --> 00:11:46,200
Speaker 1: not just concerned but discouraged. Right. They might feel like, well,

257
00:11:46,200 --> 00:11:48,120
Speaker 1: what's going to happen to us? You know, when it

258
00:11:48,120 --> 00:11:51,480
Speaker 1: comes to student loan forgiveness? I see, you know, Donald

259
00:11:51,480 --> 00:11:53,520
Speaker 1: Trump is trying to reverse some of those things that

260
00:11:53,559 --> 00:11:57,120
Speaker 1: were put into placetos to security benefits, because that does

261
00:11:57,200 --> 00:12:00,439
Speaker 1: benefit people who are thinking about when they want to tired.

262
00:12:00,480 --> 00:12:02,520
Speaker 1: You know, there's a lot of things right now and

263
00:12:02,559 --> 00:12:04,760
Speaker 1: a lot of information that's being put out there, and

264
00:12:04,840 --> 00:12:06,800
Speaker 1: if you're not doing your own research or even going

265
00:12:06,800 --> 00:12:08,360
Speaker 1: on like you can go on the White House website

266
00:12:08,400 --> 00:12:10,760
Speaker 1: and see exactly what's happening. But then we see the

267
00:12:10,760 --> 00:12:12,959
Speaker 1: threats of trying to dismantle certain things that are being

268
00:12:12,960 --> 00:12:13,760
Speaker 1: put into place.

269
00:12:14,120 --> 00:12:14,400
Speaker 2: You know.

270
00:12:14,480 --> 00:12:17,120
Speaker 5: So the question is like the anxiety that people may

271
00:12:17,160 --> 00:12:19,439
Speaker 5: have based off of the new administration, and like what

272
00:12:19,800 --> 00:12:20,240
Speaker 5: they can do?

273
00:12:20,360 --> 00:12:24,680
Speaker 1: Yes, thank you for summing that. Yeah, thanks, that's what

274
00:12:24,720 --> 00:12:28,480
Speaker 1: I mean. Yeah, So explain to me what you guys

275
00:12:28,520 --> 00:12:30,800
Speaker 1: think and what you would say to people who have

276
00:12:30,880 --> 00:12:32,960
Speaker 1: purchased this book, and that's what their main thing is.

277
00:12:33,000 --> 00:12:35,760
Speaker 1: I feel the anxiety about what's about to happen.

278
00:12:36,360 --> 00:12:37,920
Speaker 5: Yeah, I mean as far as like, okay, like what

279
00:12:38,040 --> 00:12:40,760
Speaker 5: you can do politically not you can't do anything, and

280
00:12:40,800 --> 00:12:42,720
Speaker 5: as far as like with the anxiety that you yeah,

281
00:12:42,760 --> 00:12:45,040
Speaker 5: you're screwed. So that's why you wrote the book. Because

282
00:12:45,040 --> 00:12:48,240
Speaker 5: if you wait, if you're waiting, if you're waiting for government,

283
00:12:48,240 --> 00:12:49,880
Speaker 5: if you're waiting for government to save you, it's not

284
00:12:49,880 --> 00:12:51,880
Speaker 5: going to happen. Especially not gonna happen. Is this four

285
00:12:51,960 --> 00:12:55,439
Speaker 5: years is going to be based off of benefits for entrepreneurs,

286
00:12:55,600 --> 00:12:57,920
Speaker 5: very wealthy entrepreneurs and people that's investing, so you can

287
00:12:58,559 --> 00:13:03,160
Speaker 5: benefit from that. But if you're looking for some level

288
00:13:03,200 --> 00:13:05,439
Speaker 5: of help, that's not going to happen.

289
00:13:06,000 --> 00:13:08,080
Speaker 2: So no one's going to say it's never really happened.

290
00:13:08,080 --> 00:13:08,800
Speaker 4: No, it's never happened.

291
00:13:08,880 --> 00:13:12,680
Speaker 2: No one's going to say it's happens. When you hear

292
00:13:12,720 --> 00:13:15,120
Speaker 2: all this and fear based thinking. First of all, I

293
00:13:15,120 --> 00:13:20,120
Speaker 2: think this this election really highlighted the financial illiteracy crisis

294
00:13:20,120 --> 00:13:22,800
Speaker 2: in this country because it was one on a completely

295
00:13:22,880 --> 00:13:26,000
Speaker 2: false narrative about the economy that wasn't true.

296
00:13:26,040 --> 00:13:28,079
Speaker 6: And then if we can get and thank you, I

297
00:13:28,200 --> 00:13:31,080
Speaker 6: watched you explain it. When we're talking about people don't

298
00:13:31,160 --> 00:13:33,160
Speaker 6: understand how it works. So they're just saying, hey.

299
00:13:33,160 --> 00:13:38,439
Speaker 1: Watch that, of course, but it's important.

300
00:13:38,040 --> 00:13:38,600
Speaker 3: For them to know.

301
00:13:38,679 --> 00:13:41,320
Speaker 6: Right they're thinking, oh, I'm going to bring prices down,

302
00:13:41,520 --> 00:13:43,240
Speaker 6: and so, you know, you get elected and you realize,

303
00:13:43,559 --> 00:13:44,640
Speaker 6: I'm not sure that's not how.

304
00:13:46,200 --> 00:13:47,840
Speaker 5: The quicker we could get to that, the better welf

305
00:13:47,880 --> 00:13:50,640
Speaker 5: will be. So the quicker we could just get people

306
00:13:50,679 --> 00:13:53,280
Speaker 5: to understand that, no, it's not going to work out

307
00:13:53,280 --> 00:13:55,880
Speaker 5: for you that way. It's not it's not going to happen.

308
00:13:55,720 --> 00:13:56,400
Speaker 1: But it can't work out.

309
00:13:56,440 --> 00:13:59,040
Speaker 2: But we got there because it first place.

310
00:13:59,120 --> 00:14:01,640
Speaker 5: But as far as the how, it's not gonna work

311
00:14:01,640 --> 00:14:04,559
Speaker 5: out for you. As far as waiting for the price

312
00:14:04,559 --> 00:14:07,080
Speaker 5: of milk to go down, it's not gonna work out

313
00:14:07,080 --> 00:14:10,840
Speaker 5: for you. Waiting for student loans to just evaporate, it's

314
00:14:10,880 --> 00:14:14,520
Speaker 5: not gonna work out for you. Waiting for you know,

315
00:14:15,760 --> 00:14:19,120
Speaker 5: living costs to go down and controlled rent for every

316
00:14:19,160 --> 00:14:21,000
Speaker 5: single person, that's not gonna happen for you. So the

317
00:14:21,000 --> 00:14:22,720
Speaker 5: only way it's gonna happen for you is if you

318
00:14:22,760 --> 00:14:24,720
Speaker 5: take control your own destiny. That's the whole point of

319
00:14:24,920 --> 00:14:27,240
Speaker 5: the whole point, like master the inner game of wealth.

320
00:14:27,560 --> 00:14:29,920
Speaker 5: You have to understand for yourself. This is a capitalist

321
00:14:29,960 --> 00:14:32,240
Speaker 5: of society, and the people that are rewarded and people

322
00:14:32,240 --> 00:14:35,680
Speaker 5: that win are the people that understand the game and

323
00:14:35,760 --> 00:14:38,040
Speaker 5: play it efficiently. So you have to learn how to

324
00:14:38,240 --> 00:14:40,400
Speaker 5: invest in the stock market, that's important. You have to

325
00:14:40,480 --> 00:14:42,760
Speaker 5: learn about new technology, you have to learn about cryptocurrency,

326
00:14:42,800 --> 00:14:45,000
Speaker 5: you have to learn about you have to be you

327
00:14:45,080 --> 00:14:47,080
Speaker 5: have to be an entrepreneur on a certain level, like

328
00:14:47,120 --> 00:14:49,840
Speaker 5: you have to take your destiny into your own hands.

329
00:14:50,040 --> 00:14:50,520
Speaker 4: Yeah, we can.

330
00:14:50,680 --> 00:14:53,120
Speaker 5: We can play the political game, and that that is important.

331
00:14:53,320 --> 00:14:55,240
Speaker 5: But even that we play it the wrong way, like

332
00:14:55,280 --> 00:14:58,760
Speaker 5: we play it from a standpoint of marching and trying

333
00:14:58,880 --> 00:15:01,880
Speaker 5: to play off. People say, but there's no sympathy. You

334
00:15:01,960 --> 00:15:03,880
Speaker 5: have to only play it. The only thing that people

335
00:15:04,000 --> 00:15:07,440
Speaker 5: politicians respect is money. So we've done we've done everything

336
00:15:07,520 --> 00:15:10,200
Speaker 5: except for actually play the game the right way, which

337
00:15:10,240 --> 00:15:12,400
Speaker 5: is money. Right, You go to a politician and you

338
00:15:12,440 --> 00:15:14,480
Speaker 5: fund their campaign and then they do what you want

339
00:15:14,480 --> 00:15:16,440
Speaker 5: them to do. Elon Musk is a perfect example that

340
00:15:16,480 --> 00:15:18,440
Speaker 5: he gave two hundred million of Trump and made two

341
00:15:18,520 --> 00:15:21,400
Speaker 5: hundred billion in return. That's a great, that's a great investment.

342
00:15:21,760 --> 00:15:23,440
Speaker 5: So I think a lot of time we just get

343
00:15:23,480 --> 00:15:26,120
Speaker 5: too emotionally caught up in things and we look at

344
00:15:26,160 --> 00:15:27,520
Speaker 5: it from an emotional standpoint.

345
00:15:27,560 --> 00:15:30,040
Speaker 1: What do you think about morals when it comes to like,

346
00:15:30,160 --> 00:15:31,920
Speaker 1: let's say, I want to know, first of all, what

347
00:15:31,920 --> 00:15:33,560
Speaker 1: you guys think about Elon Musk and what if he

348
00:15:33,920 --> 00:15:35,360
Speaker 1: was like you know what, I want to be down with,

349
00:15:35,440 --> 00:15:38,400
Speaker 1: like earn your leisure and I want to just let's

350
00:15:38,480 --> 00:15:40,600
Speaker 1: just say something like that happened, and I want to invest,

351
00:15:40,960 --> 00:15:43,880
Speaker 1: Like when it comes to morals and money, do those

352
00:15:43,880 --> 00:15:46,840
Speaker 1: two things can they coexist?

353
00:15:46,920 --> 00:15:47,000
Speaker 3: Like?

354
00:15:47,040 --> 00:15:50,160
Speaker 1: Can you can you maybe take some money from somebody

355
00:15:50,160 --> 00:15:52,400
Speaker 1: who you morally can't stand? But I don't know, maybe

356
00:15:52,440 --> 00:15:54,480
Speaker 1: you guys like him, I'm not sure, but I'm just

357
00:15:54,480 --> 00:15:58,560
Speaker 1: saying I'm just curious what you have to say about that.

358
00:15:59,360 --> 00:16:01,960
Speaker 5: I mean, if you have no morals, then money doesn't

359
00:16:02,000 --> 00:16:06,040
Speaker 5: matter because you'll do anything for money. You'll do anything

360
00:16:06,040 --> 00:16:07,680
Speaker 5: for money, right, So if you have if you're doing

361
00:16:07,720 --> 00:16:10,440
Speaker 5: anything for money, then I can't trust somebody because that

362
00:16:10,480 --> 00:16:14,280
Speaker 5: means you're robbed. You're still like you need to yeah, exactly. So,

363
00:16:14,360 --> 00:16:17,120
Speaker 5: of course, morals always have to come before money because

364
00:16:17,120 --> 00:16:19,520
Speaker 5: when money's not here, morals will always be here. So

365
00:16:20,040 --> 00:16:21,960
Speaker 5: as far as us doing business, now, we're not looking

366
00:16:22,000 --> 00:16:24,600
Speaker 5: through business with everybody. If we don't, if we don't

367
00:16:24,640 --> 00:16:27,080
Speaker 5: align with the person, then why would we do business

368
00:16:27,080 --> 00:16:29,960
Speaker 5: with them? This this comes from a scarcity mindset of like,

369
00:16:30,360 --> 00:16:32,760
Speaker 5: I gotta do this deal because it's the only opportunity

370
00:16:32,760 --> 00:16:34,960
Speaker 5: that I'm ever gonna have. If you come from an abundant mindset,

371
00:16:35,000 --> 00:16:37,720
Speaker 5: then you realize that not as multiple, If this is

372
00:16:37,760 --> 00:16:39,360
Speaker 5: not the right deal for me, then maybe you know,

373
00:16:39,400 --> 00:16:41,720
Speaker 5: I gotta just wait it out six months down the line,

374
00:16:41,760 --> 00:16:43,480
Speaker 5: like I'll get into a better situation, or I'll just

375
00:16:43,520 --> 00:16:45,840
Speaker 5: do it myself. I'll take the stairs instead of the elevator,

376
00:16:45,920 --> 00:16:48,000
Speaker 5: right and self fund the situation as opposed to take

377
00:16:48,000 --> 00:16:51,760
Speaker 5: it in investors. We never took outside capital. So Elon Musk,

378
00:16:51,880 --> 00:16:53,640
Speaker 5: you know, he's an interested person. I think that he's

379
00:16:53,640 --> 00:16:57,040
Speaker 5: an opportunitist more than anything. And I think that you know,

380
00:16:57,120 --> 00:17:01,000
Speaker 5: he sees opportunities for himself to for really world domination.

381
00:17:01,080 --> 00:17:02,600
Speaker 5: I think that's that's his end goo And I think

382
00:17:02,600 --> 00:17:05,440
Speaker 5: that he's willing to do whatever it takes and say

383
00:17:05,480 --> 00:17:07,840
Speaker 5: whatever it takes. And you know, Trump is somebody that

384
00:17:08,040 --> 00:17:10,680
Speaker 5: is kind of similar to that, So they don't really

385
00:17:11,400 --> 00:17:13,880
Speaker 5: their moral compass is a little different, but they also

386
00:17:13,920 --> 00:17:16,679
Speaker 5: didn't have to go through that pathway of having a

387
00:17:16,680 --> 00:17:20,760
Speaker 5: moral compass like you know, when you are born in

388
00:17:20,840 --> 00:17:24,040
Speaker 5: and parts of South Africa and you are part of

389
00:17:24,080 --> 00:17:28,359
Speaker 5: the ruling party that's ruling over I mean, yeah, you

390
00:17:28,400 --> 00:17:30,280
Speaker 5: gotta of course what kind of moral compass are you're

391
00:17:30,280 --> 00:17:33,200
Speaker 5: going to have? You benefited from that system. You got

392
00:17:33,200 --> 00:17:36,280
Speaker 5: to think about that, even if you wasn't a full adult.

393
00:17:36,400 --> 00:17:38,840
Speaker 5: You know, that's that's still in your your level of psyche.

394
00:17:38,960 --> 00:17:40,440
Speaker 5: It's still how you look at people still, how you

395
00:17:40,480 --> 00:17:42,040
Speaker 5: look at power struts. You just take what you want

396
00:17:42,119 --> 00:17:44,720
Speaker 5: because that's what happened. So I think that he still

397
00:17:44,880 --> 00:17:47,560
Speaker 5: he still has that colonize of mindset, even going to Mars.

398
00:17:47,640 --> 00:17:51,000
Speaker 5: Like the way that they talk about Mars is very

399
00:17:51,040 --> 00:17:53,840
Speaker 5: interesting because it's it's still done from a colonize of mindset,

400
00:17:54,119 --> 00:17:56,480
Speaker 5: not asking people we don't even know if there's people

401
00:17:56,600 --> 00:18:02,160
Speaker 5: on Mars, thoughts we are already making we already making

402
00:18:02,200 --> 00:18:05,680
Speaker 5: plans for a planet, right because we should. Some people

403
00:18:05,880 --> 00:18:08,399
Speaker 5: just psychologically think that everything is there.

404
00:18:11,160 --> 00:18:14,679
Speaker 2: And all that decides isn't isn't financial freedom. You know,

405
00:18:14,720 --> 00:18:17,040
Speaker 2: the we focus so much on the financial the freedom part,

406
00:18:17,520 --> 00:18:21,840
Speaker 2: it's finding your power because you align your finances with

407
00:18:22,040 --> 00:18:24,959
Speaker 2: who you authentically are and what you really are, and

408
00:18:25,000 --> 00:18:28,440
Speaker 2: that's the you know, that's real wealth. And I think

409
00:18:28,560 --> 00:18:31,320
Speaker 2: I always say money's greatest gift is it can really

410
00:18:31,359 --> 00:18:33,600
Speaker 2: reflect back to you where you are and are not

411
00:18:33,720 --> 00:18:36,720
Speaker 2: living in step with who you really are. When people

412
00:18:36,760 --> 00:18:39,520
Speaker 2: align their core values with their finances, they tend to

413
00:18:39,560 --> 00:18:42,720
Speaker 2: find that they have the money that they need. And

414
00:18:42,760 --> 00:18:45,639
Speaker 2: I love you guys. Really lay out three principles for

415
00:18:45,720 --> 00:18:48,320
Speaker 2: financial freedom in this book. You deserve to be Rich

416
00:18:48,440 --> 00:18:53,040
Speaker 2: available since yesterday you say so, talk to us about

417
00:18:53,080 --> 00:18:57,320
Speaker 2: your active and residual income, control of your time and

418
00:18:57,359 --> 00:19:03,280
Speaker 2: on your terms.

419
00:19:01,200 --> 00:19:02,520
Speaker 4: Active and residual income.

420
00:19:03,320 --> 00:19:06,840
Speaker 2: I got this straight out of your book. Three principles

421
00:19:06,840 --> 00:19:10,200
Speaker 2: of financial freedom, active.

422
00:19:09,840 --> 00:19:14,480
Speaker 5: And residual income. That's important because most of the time

423
00:19:15,600 --> 00:19:18,359
Speaker 5: how most people were taught about income was from an

424
00:19:18,400 --> 00:19:20,520
Speaker 5: active standpoint, like work for it, Like you had to

425
00:19:20,560 --> 00:19:23,240
Speaker 5: go to work and then you get paid to work, right,

426
00:19:23,440 --> 00:19:25,040
Speaker 5: and then most of the time the work that we're

427
00:19:25,080 --> 00:19:27,639
Speaker 5: doing is from the neck down, so it's manual labor

428
00:19:27,880 --> 00:19:29,680
Speaker 5: jobs like you know, what I mean, Like you go

429
00:19:29,800 --> 00:19:33,040
Speaker 5: and you you use your hands, like your construction and

430
00:19:33,040 --> 00:19:34,840
Speaker 5: stuff like that. Like you know, you you you have

431
00:19:34,920 --> 00:19:37,159
Speaker 5: a hard days of work and then you get paid

432
00:19:37,200 --> 00:19:40,080
Speaker 5: for that. But most of the money is made from

433
00:19:40,200 --> 00:19:42,080
Speaker 5: the neck up and it's people that actually is just

434
00:19:42,119 --> 00:19:45,080
Speaker 5: thinking for a living. And that goes back to the

435
00:19:45,119 --> 00:19:47,240
Speaker 5: passive income where it's like you can only make so

436
00:19:47,400 --> 00:19:50,160
Speaker 5: much money during the course of a day. And Warren

437
00:19:50,160 --> 00:19:52,000
Speaker 5: Buffett said, like, if you don't make money while you sleep,

438
00:19:52,000 --> 00:19:53,960
Speaker 5: you're gonna work till you die. So the whole point

439
00:19:54,000 --> 00:19:57,480
Speaker 5: is to actually make money while you're not working. That's passive.

440
00:19:58,520 --> 00:20:03,720
Speaker 5: So real estate stocks, businesses this twenty four hours a day, right,

441
00:20:03,840 --> 00:20:06,360
Speaker 5: So this is you could be on vacation, you could

442
00:20:06,400 --> 00:20:09,520
Speaker 5: be at soccer which your son, you can be working

443
00:20:09,560 --> 00:20:13,080
Speaker 5: on another business while you're making money. So when you

444
00:20:13,119 --> 00:20:15,920
Speaker 5: start to understand that, and that goes back to psychologically

445
00:20:15,960 --> 00:20:17,959
Speaker 5: how we look at money. When you start to understand that,

446
00:20:18,000 --> 00:20:21,359
Speaker 5: then you look at things differently. You're not thinking about

447
00:20:21,440 --> 00:20:24,959
Speaker 5: how can I get the hardest shift possible, how can

448
00:20:25,000 --> 00:20:27,800
Speaker 5: I work ten overtime shifts? You're thinking about how can

449
00:20:27,840 --> 00:20:29,760
Speaker 5: I make some money? But how can I make this

450
00:20:29,880 --> 00:20:32,040
Speaker 5: money double. How can I put it in this investment?

451
00:20:32,080 --> 00:20:34,280
Speaker 5: How can I get this home? How can I do that?

452
00:20:34,280 --> 00:20:37,040
Speaker 5: That's your main focus as opposed to because you can't

453
00:20:37,040 --> 00:20:38,920
Speaker 5: focus on too many things at one time. And that

454
00:20:39,040 --> 00:20:41,040
Speaker 5: was the whole point of it. Even for Frederick Douglass

455
00:20:41,040 --> 00:20:43,520
Speaker 5: actually said something that was extremely insightful when he was like,

456
00:20:43,520 --> 00:20:46,159
Speaker 5: you know, the system, the system of slavery was not

457
00:20:46,200 --> 00:20:48,480
Speaker 5: going to last forever. They actually knew that. So even

458
00:20:48,480 --> 00:20:51,600
Speaker 5: when they abolished slavery, they abolished it, but they still

459
00:20:51,720 --> 00:20:54,159
Speaker 5: kept the core principle of making people work and not

460
00:20:54,240 --> 00:20:57,280
Speaker 5: having anything. So you still technically a slave, right, you

461
00:20:57,320 --> 00:20:59,400
Speaker 5: don't have the shackles on your feet. You can go home,

462
00:20:59,480 --> 00:21:02,640
Speaker 5: but if you work all day, somebody's weeping the benefits

463
00:21:02,680 --> 00:21:05,520
Speaker 5: of your rewards and you don't have anything to show

464
00:21:05,560 --> 00:21:06,800
Speaker 5: for it. Well, that sounds like a lot of people

465
00:21:06,840 --> 00:21:09,879
Speaker 5: in America, black and white. So when you start to

466
00:21:09,880 --> 00:21:12,080
Speaker 5: break that chain and you realize like, okay, now there's

467
00:21:12,080 --> 00:21:15,360
Speaker 5: more to life than just physically working for a paycheck.

468
00:21:15,400 --> 00:21:18,040
Speaker 5: So that's important, that that dynamic is important.

469
00:21:18,080 --> 00:21:20,560
Speaker 6: Yeah, And I guess based on the passive income the

470
00:21:20,640 --> 00:21:22,880
Speaker 6: explanation of that it kind of goes into two and three. Right,

471
00:21:23,160 --> 00:21:25,520
Speaker 6: so earn your leisure even that the name is based

472
00:21:25,520 --> 00:21:27,720
Speaker 6: on controlling your time, right, Like the leisure.

473
00:21:27,400 --> 00:21:29,600
Speaker 2: Parties came up with that because you're trying to teach

474
00:21:29,640 --> 00:21:30,440
Speaker 2: how to earn your leaders.

475
00:21:30,520 --> 00:21:32,639
Speaker 3: Yeah, it's about the name stuff, the name stuff.

476
00:21:32,680 --> 00:21:34,720
Speaker 6: So it was just about the freedoms, right, like how

477
00:21:34,720 --> 00:21:37,280
Speaker 6: do we get our time back? And that goes for anybody, Right,

478
00:21:37,320 --> 00:21:39,119
Speaker 6: I was working nine to five. He was an entrepreneur.

479
00:21:39,720 --> 00:21:42,119
Speaker 3: While I'm working, I'm realizing, like I don't have the

480
00:21:42,160 --> 00:21:42,879
Speaker 3: amount of time.

481
00:21:42,760 --> 00:21:44,600
Speaker 6: That I need to do the things I really want.

482
00:21:44,800 --> 00:21:46,240
Speaker 6: And a lot of people struggle.

483
00:21:45,880 --> 00:21:48,120
Speaker 1: With that, right, I think most people, most people, Right,

484
00:21:48,800 --> 00:21:49,280
Speaker 1: So how do.

485
00:21:49,280 --> 00:21:51,320
Speaker 6: I change that? I have to get back my time? Right,

486
00:21:51,359 --> 00:21:52,600
Speaker 6: I can't exchange my time for money.

487
00:21:52,600 --> 00:21:53,280
Speaker 3: It's the number one.

488
00:21:53,359 --> 00:21:55,520
Speaker 6: It's the most valuable asset that we can't replicate and

489
00:21:55,560 --> 00:21:58,120
Speaker 6: we can't get back. And so it became a situation

490
00:21:58,160 --> 00:22:00,000
Speaker 6: where I'm like, all right, if I'm doing nine to three,

491
00:22:00,080 --> 00:22:02,600
Speaker 6: that's good, But what am I doing from four to twelve?

492
00:22:02,960 --> 00:22:03,160
Speaker 3: Right?

493
00:22:03,560 --> 00:22:05,640
Speaker 6: Can I have something from four to twelve that can

494
00:22:05,720 --> 00:22:08,600
Speaker 6: almost become the new norm for me, that can replace

495
00:22:08,600 --> 00:22:09,960
Speaker 6: what I was doing in nine to three? And I

496
00:22:10,000 --> 00:22:12,439
Speaker 6: was like, all right, well, here comes this this idea

497
00:22:12,440 --> 00:22:15,120
Speaker 6: that we have called ernial leisure. Let's see where this goes.

498
00:22:15,160 --> 00:22:17,480
Speaker 6: And you start seeing the impact, I start getting my

499
00:22:17,520 --> 00:22:19,800
Speaker 6: time back. Right now, I get them like, hey, this

500
00:22:19,840 --> 00:22:22,600
Speaker 6: can actually supplement income, right, this income can now be

501
00:22:22,640 --> 00:22:23,200
Speaker 6: the main thing.

502
00:22:23,560 --> 00:22:25,520
Speaker 3: Now I get to have more freedoms. Right, I thought

503
00:22:25,560 --> 00:22:28,320
Speaker 3: I did. Right. People don't realize that's an entrepreneur you're gonna.

504
00:22:28,119 --> 00:22:30,360
Speaker 1: Work hard on but at least for yourself.

505
00:22:31,680 --> 00:22:34,199
Speaker 6: So yeah, then that goes to the last part, right,

506
00:22:34,240 --> 00:22:36,159
Speaker 6: control your time and do it on your terms. So

507
00:22:36,200 --> 00:22:39,119
Speaker 6: on your terms, it's like, now I'm doing I still educate,

508
00:22:39,240 --> 00:22:41,119
Speaker 6: I just don't do it in the classroom. I'm still

509
00:22:41,160 --> 00:22:43,120
Speaker 6: doing what I love, right, I just get to share

510
00:22:43,160 --> 00:22:45,119
Speaker 6: it with the world, not a school district. And so

511
00:22:45,320 --> 00:22:48,080
Speaker 6: doing it on your terms, it's like, hey, we've earned

512
00:22:48,119 --> 00:22:49,919
Speaker 6: the right to do it, right, We've earned the freedom

513
00:22:50,000 --> 00:22:51,560
Speaker 6: to now do it how we want. We get to

514
00:22:51,600 --> 00:22:54,480
Speaker 6: show up in polos and hoodies and tims.

515
00:22:55,000 --> 00:22:57,439
Speaker 1: We're authentically not on the inside jacket.

516
00:22:57,840 --> 00:22:58,600
Speaker 3: No, look at that.

517
00:22:58,640 --> 00:23:02,840
Speaker 6: We'll get focus, Angela, let's stay focused. But we get

518
00:23:02,880 --> 00:23:04,320
Speaker 6: to do it on our own terms, which is a

519
00:23:04,320 --> 00:23:05,080
Speaker 6: breath refrustator.

520
00:23:05,280 --> 00:23:09,240
Speaker 3: Right, Like, we've watched finance for years and it never

521
00:23:09,280 --> 00:23:10,640
Speaker 3: looked like us. Right.

522
00:23:10,760 --> 00:23:13,600
Speaker 2: You know what about people who think how but I

523
00:23:13,720 --> 00:23:15,600
Speaker 2: have to work hard to get that. I know, like

524
00:23:15,640 --> 00:23:18,400
Speaker 2: there's some single mom out there listening and this going, well,

525
00:23:18,600 --> 00:23:20,760
Speaker 2: what am I doing from four to nine? I'm taking

526
00:23:20,800 --> 00:23:21,320
Speaker 2: care of it?

527
00:23:21,320 --> 00:23:24,520
Speaker 3: And she's in the book, she's in the vote.

528
00:23:24,720 --> 00:23:27,320
Speaker 2: It's even more important to make your money work as

529
00:23:27,400 --> 00:23:28,280
Speaker 2: hard as you're working.

530
00:23:28,440 --> 00:23:30,479
Speaker 6: It has to work harder than you're working, right, Like,

531
00:23:30,640 --> 00:23:33,640
Speaker 6: we look at it like, hey, if you're making money, right,

532
00:23:33,800 --> 00:23:35,560
Speaker 6: those become your soldiers, right.

533
00:23:35,880 --> 00:23:37,920
Speaker 3: You got to put the bat on the field, right,

534
00:23:38,119 --> 00:23:39,840
Speaker 3: Those soldiers need to bring back more money.

535
00:23:40,000 --> 00:23:42,280
Speaker 6: If they don't, you're going to keep being in that

536
00:23:42,359 --> 00:23:45,080
Speaker 6: cycle of I'm working, I'm working hard, I'm doing overtime.

537
00:23:45,080 --> 00:23:46,879
Speaker 6: I got to get a second job. You're just treating

538
00:23:46,920 --> 00:23:48,960
Speaker 6: your time for money, right. We have to make sure

539
00:23:49,000 --> 00:23:51,680
Speaker 6: that it's out there bringing back more. So the more

540
00:23:51,720 --> 00:23:53,560
Speaker 6: it brings back in, the more time you're going to

541
00:23:53,600 --> 00:23:55,320
Speaker 6: have back to yourself. It's the only way to get

542
00:23:55,320 --> 00:23:55,960
Speaker 6: out that right race.

543
00:23:56,040 --> 00:23:57,720
Speaker 1: And when you guys talk about on your own terms,

544
00:23:57,720 --> 00:23:59,520
Speaker 1: Another thing I want to ask you, you are a

545
00:23:59,560 --> 00:24:03,040
Speaker 1: childhood friends how is it working with your friends? Because

546
00:24:03,040 --> 00:24:06,280
Speaker 1: we've seen a lot of people who came up started

547
00:24:06,280 --> 00:24:09,119
Speaker 1: doing stuff together and then it didn't work out, and

548
00:24:09,160 --> 00:24:11,359
Speaker 1: partnerships can be difficult. So what are some of the

549
00:24:11,440 --> 00:24:13,360
Speaker 1: rules that you have because people might want to read

550
00:24:13,359 --> 00:24:16,200
Speaker 1: this book and think about like being an entrepreneur, maybe

551
00:24:16,200 --> 00:24:20,000
Speaker 1: teaming up with somebody, family, friends, or whatever. But what

552
00:24:20,040 --> 00:24:21,879
Speaker 1: are the parameters that you've been able to set to

553
00:24:22,040 --> 00:24:23,360
Speaker 1: successfully have this run?

554
00:24:23,440 --> 00:24:27,679
Speaker 6: I'll tell Shy never called me up to ten. I

555
00:24:27,680 --> 00:24:30,760
Speaker 6: think it starts with respect. I mean, our relationship is

556
00:24:30,800 --> 00:24:32,639
Speaker 6: very unique. It as a brotherhood first. So before there

557
00:24:32,680 --> 00:24:35,879
Speaker 6: was any arnallesia, before there was any businesses, it was

558
00:24:35,960 --> 00:24:39,080
Speaker 6: two dudes used to play ball together, who.

559
00:24:38,920 --> 00:24:39,919
Speaker 1: Had who was better?

560
00:24:40,280 --> 00:24:40,800
Speaker 3: He was better?

561
00:24:40,840 --> 00:24:41,440
Speaker 1: Okay for sure?

562
00:24:41,520 --> 00:24:44,760
Speaker 3: See like how humble I am telling me? Yeah?

563
00:24:45,240 --> 00:24:47,680
Speaker 6: I mean, and we had a belief like in each

564
00:24:47,720 --> 00:24:50,119
Speaker 6: other growing up right like we were. We had a

565
00:24:50,119 --> 00:24:53,320
Speaker 6: group of friends, but me and him were more kindred

566
00:24:53,480 --> 00:24:56,399
Speaker 6: mind in a sense. And so anytime he has something

567
00:24:56,440 --> 00:24:58,480
Speaker 6: going on, I'm supporting. Anytime I had something going on,

568
00:24:58,560 --> 00:25:00,639
Speaker 6: He's supporting. And so that just kind of grew and

569
00:25:00,680 --> 00:25:03,280
Speaker 6: then as you grow as young men and men and

570
00:25:03,640 --> 00:25:07,840
Speaker 6: fathers you start to realize strengths and weaknesses. And so

571
00:25:07,920 --> 00:25:10,440
Speaker 6: every time I see that he has a strength, I'm like, good,

572
00:25:10,480 --> 00:25:12,280
Speaker 6: I could be good at that, but he's already strong.

573
00:25:12,560 --> 00:25:14,359
Speaker 6: And anytime I see a weakness, I'm like, all right,

574
00:25:14,400 --> 00:25:17,040
Speaker 6: I need to be better at this for our unit

575
00:25:17,080 --> 00:25:19,920
Speaker 6: to work. And so it's always been that, like he's

576
00:25:19,920 --> 00:25:25,200
Speaker 6: super creative, right, he's super innovative. I'm more like, hands on,

577
00:25:25,440 --> 00:25:27,600
Speaker 6: how are we going to execute this right? And so

578
00:25:27,680 --> 00:25:29,399
Speaker 6: that balances each other, Like he comes up what I did,

579
00:25:29,480 --> 00:25:31,040
Speaker 6: so shrew the text and shrewed it out to the group,

580
00:25:31,080 --> 00:25:33,760
Speaker 6: and I just wait because while he's thinking of that,

581
00:25:33,800 --> 00:25:35,359
Speaker 6: he has the idea, I'm like, all right, let me

582
00:25:35,440 --> 00:25:37,440
Speaker 6: clear some my mind out to see like how we're

583
00:25:37,440 --> 00:25:38,280
Speaker 6: going to get this done.

584
00:25:39,119 --> 00:25:40,040
Speaker 3: And that's usually worked.

585
00:25:40,040 --> 00:25:42,040
Speaker 1: That's yeah, because you can't both do the same thing.

586
00:25:42,400 --> 00:25:43,719
Speaker 3: I tried that. I tried that.

587
00:25:43,840 --> 00:25:46,240
Speaker 6: I realized that when we started he was great at

588
00:25:46,440 --> 00:25:47,760
Speaker 6: social media.

589
00:25:48,160 --> 00:25:49,680
Speaker 1: I mean you could see my social media, like I

590
00:25:50,400 --> 00:25:51,640
Speaker 1: tell you to take some shit down to.

591
00:25:52,400 --> 00:25:54,080
Speaker 3: I was like, yo, what, I'll get up and I'll

592
00:25:54,119 --> 00:25:57,119
Speaker 3: start posting on this on earner Lisu's page. And like

593
00:25:57,200 --> 00:25:58,920
Speaker 3: after the first day, I'm waking up at five am

594
00:25:58,960 --> 00:25:59,280
Speaker 3: to do this.

595
00:25:59,359 --> 00:26:02,080
Speaker 6: I'm like, yo, it takes me like thirty minutes to

596
00:26:02,080 --> 00:26:03,560
Speaker 6: write a cashle and I know it might take him

597
00:26:03,560 --> 00:26:04,040
Speaker 6: two minutes.

598
00:26:04,080 --> 00:26:04,879
Speaker 1: He's overthinking it.

599
00:26:05,040 --> 00:26:09,399
Speaker 3: I was Almo over thinking that. I'm checking punctuation. I'm like,

600
00:26:09,800 --> 00:26:12,160
Speaker 3: we gotta make sure this is right. Where's the comma?

601
00:26:12,720 --> 00:26:14,760
Speaker 3: And then I was like, you know what, this is

602
00:26:14,800 --> 00:26:16,320
Speaker 3: not good. I'm good at research.

603
00:26:16,440 --> 00:26:18,320
Speaker 6: I can go look at the articles and find out

604
00:26:18,320 --> 00:26:20,600
Speaker 6: what's important. I'll send to him, let him go do

605
00:26:20,680 --> 00:26:21,119
Speaker 6: his magic.

606
00:26:21,520 --> 00:26:22,560
Speaker 1: I got the gift of gab.

607
00:26:23,359 --> 00:26:26,560
Speaker 2: Yeah, definitely. And you talk about that the importance of it.

608
00:26:26,600 --> 00:26:28,560
Speaker 2: Sounds like you guys have just been each other's forever,

609
00:26:28,640 --> 00:26:33,160
Speaker 2: a money team and an accountability partner being on that team,

610
00:26:33,480 --> 00:26:36,639
Speaker 2: and it's difficult because there's so much shame around asking

611
00:26:36,680 --> 00:26:40,240
Speaker 2: for help for money. Tell people how important that team,

612
00:26:40,320 --> 00:26:42,879
Speaker 2: that backup person and getting over that shame is.

613
00:26:44,240 --> 00:26:45,680
Speaker 5: Yeah, for sure. I mean you got to be able

614
00:26:45,680 --> 00:26:47,600
Speaker 5: to you know, it goes back to childhood. A lot

615
00:26:47,640 --> 00:26:51,040
Speaker 5: of times, you know, our parents told us like, don't

616
00:26:51,600 --> 00:26:54,840
Speaker 5: ask an adult how much money he makes or she makes.

617
00:26:55,359 --> 00:26:57,679
Speaker 2: And you talk about sex easier than money.

618
00:26:57,760 --> 00:27:02,239
Speaker 5: Yeah, exactly, stay out of grown folks business, and so

619
00:27:03,200 --> 00:27:06,760
Speaker 5: you internalize that and you think that you know, you

620
00:27:06,800 --> 00:27:09,720
Speaker 5: don't talk about money, right, and then that.

621
00:27:09,440 --> 00:27:11,959
Speaker 2: That's every community, that's everybody.

622
00:27:11,680 --> 00:27:14,359
Speaker 5: And that turns into not asking about it as well,

623
00:27:14,440 --> 00:27:16,720
Speaker 5: right like you want. You know, even Gez. We talked

624
00:27:16,720 --> 00:27:18,200
Speaker 5: to Jez and he was telling us about his first

625
00:27:18,320 --> 00:27:22,280
Speaker 5: check that he got for a million dollars and he

626
00:27:22,320 --> 00:27:24,960
Speaker 5: didn't cash a check for a year because he didn't

627
00:27:24,960 --> 00:27:27,439
Speaker 5: know how to cash a checker. So but he was

628
00:27:27,440 --> 00:27:30,920
Speaker 5: like he was too embarrassed to talk to anybody about

629
00:27:30,920 --> 00:27:34,199
Speaker 5: it because it's like, you know, it was kind of

630
00:27:34,200 --> 00:27:35,800
Speaker 5: an embarrassing thing not to know what to do with

631
00:27:35,800 --> 00:27:37,880
Speaker 5: the check if you're in your mid twenties and you're

632
00:27:37,880 --> 00:27:41,040
Speaker 5: a millionaire, like you know what I mean. So having

633
00:27:41,119 --> 00:27:45,959
Speaker 5: that ability to have, you know, an accountability partner in

634
00:27:45,960 --> 00:27:49,280
Speaker 5: the group, I think kind of it lowers your guard

635
00:27:49,800 --> 00:27:53,720
Speaker 5: because now everybody kind of has some level of vulnerability.

636
00:27:53,960 --> 00:27:56,120
Speaker 5: You might not know one thing about real estate, somebody

637
00:27:56,119 --> 00:27:58,199
Speaker 5: else might not know something about stock, somebody else might

638
00:27:58,240 --> 00:28:01,280
Speaker 5: not something that's about credit. So we we all learning together,

639
00:28:01,800 --> 00:28:02,240
Speaker 5: and you have.

640
00:28:02,160 --> 00:28:04,520
Speaker 1: To have an openness to be able to do that too,

641
00:28:04,760 --> 00:28:06,640
Speaker 1: because some people are like I'm not doing that. I'm

642
00:28:06,640 --> 00:28:09,159
Speaker 1: not and they won't open their mind up to be

643
00:28:09,200 --> 00:28:11,480
Speaker 1: able to learn because I'm very quick to be that. Look,

644
00:28:11,520 --> 00:28:12,840
Speaker 1: I don't know how to do that. I need somebody

645
00:28:12,840 --> 00:28:15,639
Speaker 1: who knows to teach me how or let me go

646
00:28:15,640 --> 00:28:18,040
Speaker 1: ahead and take this course because reading this book, because

647
00:28:18,080 --> 00:28:20,119
Speaker 1: like I said, I don't know. I have like my

648
00:28:20,280 --> 00:28:23,520
Speaker 1: very safe investments because I want to make sure when

649
00:28:23,520 --> 00:28:26,040
Speaker 1: it's time to retire that that is you know what

650
00:28:26,080 --> 00:28:28,280
Speaker 1: it is. But I do want to be more active

651
00:28:28,800 --> 00:28:32,240
Speaker 1: when it comes to investing in the stock market. And

652
00:28:32,280 --> 00:28:33,919
Speaker 1: then that makes me think like, okay, well maybe I

653
00:28:33,920 --> 00:28:37,840
Speaker 1: need to take some courses, but also watch you guys

654
00:28:38,200 --> 00:28:39,120
Speaker 1: and figure that out too.

655
00:28:39,240 --> 00:28:41,560
Speaker 3: I think that's what makes it such a unique time, right.

656
00:28:41,880 --> 00:28:43,040
Speaker 3: I go back to my school all.

657
00:28:42,960 --> 00:28:45,840
Speaker 6: The time and they talk about retirement, and retirement just

658
00:28:45,880 --> 00:28:48,720
Speaker 6: meant like there was a guy that was coming like

659
00:28:48,840 --> 00:28:51,000
Speaker 6: once a year and hopefully you meet him in the cafeteria.

660
00:28:51,440 --> 00:28:53,840
Speaker 6: But you know, since we've been doing any leisure, people

661
00:28:53,880 --> 00:28:55,320
Speaker 6: are not looking at it as an age anymore.

662
00:28:55,520 --> 00:28:57,640
Speaker 3: They're looking at it as a number. And that's a

663
00:28:58,000 --> 00:28:58,800
Speaker 3: mindset change.

664
00:28:58,840 --> 00:29:00,760
Speaker 6: Just like once I get to this, but I feel

665
00:29:00,760 --> 00:29:03,840
Speaker 6: comfortable with retiring it's important. I mean that type of

666
00:29:03,840 --> 00:29:06,120
Speaker 6: mindset changes things, but it goes back to, you know,

667
00:29:06,200 --> 00:29:09,560
Speaker 6: kind of what you're saying, having that accountability partner. I

668
00:29:09,640 --> 00:29:12,320
Speaker 6: come from a background in health and physid like I

669
00:29:12,320 --> 00:29:14,480
Speaker 6: didn't come back from a background in finance. I taught

670
00:29:14,480 --> 00:29:16,720
Speaker 6: myself that he comes from, you know, a background of

671
00:29:16,760 --> 00:29:18,959
Speaker 6: sales and finance as well. But I remember he used

672
00:29:18,960 --> 00:29:21,160
Speaker 6: to tell me, like, you know, kill the deal, kill

673
00:29:21,200 --> 00:29:22,840
Speaker 6: the deal, and so that mindset kind of stuck with me.

674
00:29:22,880 --> 00:29:25,040
Speaker 6: Anytime I would talk about an investment, I run it

675
00:29:25,040 --> 00:29:26,720
Speaker 6: by him and he would like, try to kill the deal.

676
00:29:26,800 --> 00:29:28,560
Speaker 6: He'd be like, yo, no, it's not gonna work. No,

677
00:29:28,920 --> 00:29:30,400
Speaker 6: why would you do that? Why would you do that?

678
00:29:30,440 --> 00:29:32,520
Speaker 6: And I'm just like, damn, I gotta really sharpen my

679
00:29:32,560 --> 00:29:36,000
Speaker 6: skills because he's finding with holds in everything I'm saying

680
00:29:36,040 --> 00:29:37,680
Speaker 6: about this investment, to the point where it was like

681
00:29:38,480 --> 00:29:40,560
Speaker 6: I tell him something now and it's like he trusted

682
00:29:40,640 --> 00:29:42,040
Speaker 6: because he knows that at.

683
00:29:41,880 --> 00:29:42,880
Speaker 1: This week, you've done the work.

684
00:29:43,640 --> 00:29:46,440
Speaker 6: By yeah, far, I have done the work. And now

685
00:29:46,440 --> 00:29:48,320
Speaker 6: it's like there's no hole to shooting it right, Like

686
00:29:48,360 --> 00:29:49,760
Speaker 6: this makes a lot of sense, and I can see

687
00:29:49,760 --> 00:29:51,719
Speaker 6: how you've seen it but early on it was like,

688
00:29:52,160 --> 00:29:54,080
Speaker 6: now I'm not seeing that. Nah, if you do that,

689
00:29:54,120 --> 00:29:56,120
Speaker 6: it's gonna mess up. I'm like, all right, yeah, you're right,

690
00:29:56,160 --> 00:29:57,880
Speaker 6: let me go back. But that's sharp in my eye,

691
00:29:58,000 --> 00:29:58,600
Speaker 6: you know what I'm saying.

692
00:29:58,680 --> 00:30:01,160
Speaker 1: You know what, It's great too. You've been really honest

693
00:30:01,200 --> 00:30:05,120
Speaker 1: about like your family and losing a house when you

694
00:30:05,160 --> 00:30:09,160
Speaker 1: were young to foreclosure, and how that's affected how your

695
00:30:09,200 --> 00:30:12,080
Speaker 1: parents view money, how they view investing, And that's a

696
00:30:12,080 --> 00:30:14,360
Speaker 1: lot of our stories when it comes to our families

697
00:30:14,400 --> 00:30:16,960
Speaker 1: and issues that they've had with money in the past

698
00:30:16,960 --> 00:30:20,160
Speaker 1: that has definitely clouded whatever it is that they might

699
00:30:20,200 --> 00:30:25,160
Speaker 1: feel comfortable doing in the future. So for you, you know how,

700
00:30:25,440 --> 00:30:27,680
Speaker 1: like just even this journey that you've been on, I

701
00:30:27,720 --> 00:30:29,800
Speaker 1: would love to hear what your parents have to say

702
00:30:30,320 --> 00:30:32,920
Speaker 1: about seeing where you guys are now, because this was

703
00:30:32,960 --> 00:30:35,960
Speaker 1: something when y'all first started this, it was like, all right,

704
00:30:36,040 --> 00:30:38,080
Speaker 1: we don't know where this is going to go or

705
00:30:38,160 --> 00:30:41,040
Speaker 1: what's gonna end up happening, And here we are now.

706
00:30:42,000 --> 00:30:44,960
Speaker 6: Yeah, our story is going to be very different. Obviously,

707
00:30:45,040 --> 00:30:47,840
Speaker 6: you know he's an entrepreneurial dad. I let him tell it.

708
00:30:47,880 --> 00:30:49,480
Speaker 6: But you know, my parents come from nine to five.

709
00:30:49,720 --> 00:30:52,360
Speaker 6: My dad worked for forty three years. I remember doing

710
00:30:52,400 --> 00:30:54,760
Speaker 6: Alesia and telling him like, my mom, I'm like, this

711
00:30:54,880 --> 00:30:57,480
Speaker 6: is it. I'm not going back to teaching. It's like, oh, whatever,

712
00:30:58,720 --> 00:31:00,680
Speaker 6: you'll be back. And then I was like, yeah, I'm

713
00:31:00,720 --> 00:31:02,880
Speaker 6: not going back. And she was like, are you sure

714
00:31:03,000 --> 00:31:03,520
Speaker 6: you're retired?

715
00:31:03,560 --> 00:31:04,640
Speaker 3: You know the usual things.

716
00:31:04,680 --> 00:31:06,360
Speaker 6: What about your four on one K, your four or

717
00:31:06,400 --> 00:31:09,200
Speaker 6: three B, your health insurance, all these these I could

718
00:31:09,240 --> 00:31:10,120
Speaker 6: hear the fear and the.

719
00:31:10,080 --> 00:31:17,200
Speaker 7: Anxieties teachers they get about that, and it made me

720
00:31:17,240 --> 00:31:19,880
Speaker 7: think about the trauma that they faced, right, and so

721
00:31:20,480 --> 00:31:22,600
Speaker 7: I understood it, but I understood who I was in

722
00:31:22,640 --> 00:31:23,120
Speaker 7: my family.

723
00:31:23,600 --> 00:31:25,720
Speaker 6: I'm the kid that's willing to take the risks. I'm

724
00:31:25,760 --> 00:31:28,120
Speaker 6: the kid that's willing to take the chance because I

725
00:31:28,200 --> 00:31:30,760
Speaker 6: know we're closer to zero than we are to the

726
00:31:30,760 --> 00:31:34,200
Speaker 6: real goal of generational wealth, and so the chance doesn't

727
00:31:34,200 --> 00:31:34,960
Speaker 6: feel as great.

728
00:31:34,800 --> 00:31:37,440
Speaker 3: To me as it did to them. Whereas their first generation,

729
00:31:37,520 --> 00:31:40,959
Speaker 3: I'm first generation American. My parents are from Jamaica. They

730
00:31:40,960 --> 00:31:42,160
Speaker 3: didn't have financial education.

731
00:31:42,200 --> 00:31:45,040
Speaker 6: They were making decisions based on what their family members

732
00:31:45,040 --> 00:31:47,960
Speaker 6: were telling them. Some of those decisions didn't work out.

733
00:31:48,040 --> 00:31:49,960
Speaker 6: They still live with that. I can make a decision

734
00:31:50,000 --> 00:31:52,000
Speaker 6: doesn't work out, I can move on. Right, I have

735
00:31:52,040 --> 00:31:54,520
Speaker 6: the wherewithal I have the education, I have the resources

736
00:31:54,560 --> 00:31:56,280
Speaker 6: to say and that's without money.

737
00:31:56,360 --> 00:31:56,760
Speaker 4: I have the.

738
00:31:56,680 --> 00:31:59,000
Speaker 6: Resources say all I've learned from this mistake. How do

739
00:31:59,040 --> 00:32:01,320
Speaker 6: I how do I get up and recover for it?

740
00:32:01,800 --> 00:32:04,840
Speaker 6: My mom read the book and she yeah, yeah. When

741
00:32:04,880 --> 00:32:06,760
Speaker 6: I went this, I sat down. I was like, what

742
00:32:06,840 --> 00:32:09,560
Speaker 6: you think? And she was kind of hesitanting.

743
00:32:09,600 --> 00:32:12,320
Speaker 3: She was like, why'd you tell all those stories?

744
00:32:12,680 --> 00:32:16,000
Speaker 6: I'm like, I needed to tell them. She's like, everybody

745
00:32:16,040 --> 00:32:18,160
Speaker 6: doesn't need to know our personal business. I'm like, no, no,

746
00:32:18,200 --> 00:32:21,480
Speaker 6: it's not our business. This is going to help educate people.

747
00:32:21,640 --> 00:32:24,160
Speaker 6: In fact when they hear this story, Like you said,

748
00:32:24,160 --> 00:32:27,320
Speaker 6: this is everybody's story. Right, you're from Jamaica. How are

749
00:32:27,320 --> 00:32:29,240
Speaker 6: you supposed to know what adjustable rate mortgage is or

750
00:32:29,240 --> 00:32:30,320
Speaker 6: if this rate mortgage is?

751
00:32:30,360 --> 00:32:34,200
Speaker 1: So many people got that, Yeah, we don't know.

752
00:32:34,320 --> 00:32:37,000
Speaker 6: And so like when your dad gets his car repulled

753
00:32:37,000 --> 00:32:40,560
Speaker 6: by his brother, like, okay, we don't have a car anymore.

754
00:32:40,560 --> 00:32:42,760
Speaker 6: And then you go from a house to the white

755
00:32:43,160 --> 00:32:44,240
Speaker 6: house with the picket.

756
00:32:44,040 --> 00:32:45,560
Speaker 3: Fence, and then you go into an apartment.

757
00:32:45,640 --> 00:32:48,160
Speaker 6: Then you liveing in somebody's basement and it's like it

758
00:32:48,200 --> 00:32:51,440
Speaker 6: feels embarrassing, but I'm like, no, it's the triumph in

759
00:32:51,520 --> 00:32:52,040
Speaker 6: that story.

760
00:32:52,160 --> 00:32:52,320
Speaker 3: Right.

761
00:32:52,400 --> 00:32:55,959
Speaker 6: The person that wrote this book lived through that, so

762
00:32:56,000 --> 00:32:59,520
Speaker 6: it can encourage and hopefully inspire people to like, hey,

763
00:32:59,600 --> 00:33:02,760
Speaker 6: if that's my circumstances, it's not over right, what's the

764
00:33:03,000 --> 00:33:03,840
Speaker 6: X factor in that?

765
00:33:03,880 --> 00:33:09,840
Speaker 2: Because I identified there's three major drivers in our financial

766
00:33:09,880 --> 00:33:12,360
Speaker 2: belief system. I call them money scripts. Just like actors

767
00:33:12,400 --> 00:33:16,000
Speaker 2: follow scripts, we blindly follow these scripts. There's childhood scripts

768
00:33:16,760 --> 00:33:19,000
Speaker 2: the way you saw money handled or not discussed or

769
00:33:19,040 --> 00:33:23,440
Speaker 2: not growing up or not your brain literally you know,

770
00:33:24,000 --> 00:33:26,360
Speaker 2: says okay, this is right and wrong. There's social script

771
00:33:26,400 --> 00:33:29,560
Speaker 2: about gender, race, culture, all that kind of stuff. Something

772
00:33:29,600 --> 00:33:32,360
Speaker 2: in your parents, even though they had all that stuff

773
00:33:32,400 --> 00:33:37,120
Speaker 2: going on, you saw something that Okay, I can do

774
00:33:37,200 --> 00:33:39,880
Speaker 2: it anyway. What do you think that X factor was?

775
00:33:40,560 --> 00:33:42,040
Speaker 3: You know what, it's a unique thing.

776
00:33:42,080 --> 00:33:44,880
Speaker 6: And as we are going on this port tour and

777
00:33:45,120 --> 00:33:47,640
Speaker 6: some people get in the book early, there's a uniqueness

778
00:33:47,640 --> 00:33:50,000
Speaker 6: in people that they just believe right away, Like if

779
00:33:50,000 --> 00:33:52,520
Speaker 6: you ask him, he'll tell you he never thought he

780
00:33:52,600 --> 00:33:53,440
Speaker 6: wasn't going to be wealthy.

781
00:33:53,840 --> 00:33:55,960
Speaker 3: Right. I have essays that my mom kept when I

782
00:33:56,000 --> 00:33:58,240
Speaker 3: was in third grade, saying I'm going to be a millionaire.

783
00:33:58,680 --> 00:34:00,240
Speaker 3: No Clid's cue, she.

784
00:34:00,200 --> 00:34:03,440
Speaker 6: Still has them, right, Like, in my mind, I saw

785
00:34:03,520 --> 00:34:05,640
Speaker 6: wealth for myself, right, it didn't matter what was.

786
00:34:05,640 --> 00:34:08,719
Speaker 3: Going on around me when we were living in the basement.

787
00:34:08,480 --> 00:34:11,120
Speaker 6: Or you know, I watched my dad work and my

788
00:34:11,160 --> 00:34:12,200
Speaker 6: mom controlled all the money.

789
00:34:12,200 --> 00:34:14,920
Speaker 3: I'm sure that's plenty of households. I'm like, oh, she

790
00:34:15,000 --> 00:34:16,799
Speaker 3: must be more disciplined than him. Why does he keep

791
00:34:16,800 --> 00:34:18,319
Speaker 3: giving her the money? Right?

792
00:34:18,440 --> 00:34:20,719
Speaker 6: Like, so you're working in and she's getting the money

793
00:34:20,760 --> 00:34:23,120
Speaker 6: to manage it. Does that mean you can't manage it? Nah,

794
00:34:23,120 --> 00:34:24,719
Speaker 6: I'm not gonna be like the guy who can't manage it.

795
00:34:24,719 --> 00:34:26,640
Speaker 6: I'm gonna I'm gonna manage the money when I get older.

796
00:34:26,800 --> 00:34:29,319
Speaker 3: So I'm watching those things, and innately it was like,

797
00:34:29,920 --> 00:34:31,640
Speaker 3: I'm gonna be wealthy. I just knew it.

798
00:34:31,680 --> 00:34:34,399
Speaker 6: I just was like, Hey, at some point, I'm gonna

799
00:34:34,400 --> 00:34:36,200
Speaker 6: be wealthy. I don't know how I'm gonna do it,

800
00:34:36,239 --> 00:34:37,920
Speaker 6: but I just know I have the mindset for it.

801
00:34:38,440 --> 00:34:41,720
Speaker 6: And so I think I'm noticing now like the people

802
00:34:41,800 --> 00:34:43,200
Speaker 6: who feel like that and they.

803
00:34:43,040 --> 00:34:45,040
Speaker 3: Have that belief, they make it happen.

804
00:34:45,239 --> 00:34:45,520
Speaker 2: Yeah.

805
00:34:45,640 --> 00:34:48,520
Speaker 6: Right, there's just this innate thing that they have from

806
00:34:48,640 --> 00:34:51,560
Speaker 6: childhood that they followed this dream, they followed the intuition,

807
00:34:51,800 --> 00:34:53,440
Speaker 6: and they have the whrewlthal to say, all right, that's

808
00:34:53,440 --> 00:34:54,920
Speaker 6: gonna be me, this is gonna be my lifestyle.

809
00:34:55,120 --> 00:34:58,440
Speaker 1: Ambrashad your father as an entrepreneur, did you always know

810
00:34:58,600 --> 00:35:01,439
Speaker 1: like this is gonna be my past too? Just from

811
00:35:01,480 --> 00:35:02,520
Speaker 1: watching him?

812
00:35:02,760 --> 00:35:04,400
Speaker 5: Yeah, I always know I wanted to be an entrepreneur,

813
00:35:04,520 --> 00:35:06,960
Speaker 5: just from a lot of different stuff. I mean him definitely,

814
00:35:07,040 --> 00:35:10,600
Speaker 5: and then just different inspiration that I was getting growing up.

815
00:35:11,880 --> 00:35:14,720
Speaker 5: You dodge on inspiration from everything you know, from music

816
00:35:14,800 --> 00:35:18,560
Speaker 5: to movies to just different different things. So all of these,

817
00:35:19,040 --> 00:35:22,480
Speaker 5: all of these things that was shaping my reality all

818
00:35:22,560 --> 00:35:26,000
Speaker 5: pointed in the direction of being an entrepreneur. So I

819
00:35:26,040 --> 00:35:30,080
Speaker 5: always never really had an idea of like exactly what

820
00:35:30,160 --> 00:35:32,480
Speaker 5: I wanted to do as far as entrepreneurship. But I

821
00:35:32,520 --> 00:35:35,000
Speaker 5: never wanted to I never aspired to have a job.

822
00:35:35,239 --> 00:35:37,040
Speaker 5: I never wanted to go on like a career. I

823
00:35:37,080 --> 00:35:38,600
Speaker 5: never wanted to be like, Okay, I want to be

824
00:35:38,640 --> 00:35:40,920
Speaker 5: a lawyer. I want to be like I never never

825
00:35:41,480 --> 00:35:47,480
Speaker 5: had any aspirations of like working a job or having

826
00:35:47,520 --> 00:35:50,360
Speaker 5: a career, like in a traditional sense, how.

827
00:35:50,320 --> 00:35:52,400
Speaker 1: Is it too for you guys, being on the pedestal

828
00:35:52,440 --> 00:35:54,680
Speaker 1: that you're on, everything doesn't always work out the way

829
00:35:54,680 --> 00:35:57,480
Speaker 1: that you intended it to. And so, but like you

830
00:35:57,480 --> 00:35:59,680
Speaker 1: said about your parents, being honest about those things that

831
00:35:59,719 --> 00:36:03,200
Speaker 1: didn't workout can actually help other people because no matter

832
00:36:03,200 --> 00:36:05,080
Speaker 1: who you are, what position you're in, everything is not

833
00:36:05,160 --> 00:36:07,279
Speaker 1: a home run, you know, and I think we all

834
00:36:07,360 --> 00:36:10,080
Speaker 1: know that. So how do you deal with that when

835
00:36:10,080 --> 00:36:13,799
Speaker 1: it's like okay, you know, because sometimes, yeah, sometimes that's

836
00:36:13,840 --> 00:36:14,400
Speaker 1: not easy.

837
00:36:14,680 --> 00:36:16,319
Speaker 5: Yeah, I mean, you know, it's just it's just life,

838
00:36:16,360 --> 00:36:18,560
Speaker 5: you know, It's wins and losses in life. Like you know,

839
00:36:18,600 --> 00:36:21,880
Speaker 5: no matter what you no matter who you are, it's challenges.

840
00:36:22,400 --> 00:36:24,240
Speaker 5: You know, you're gonna be tested. You're gonna be tested

841
00:36:24,280 --> 00:36:27,640
Speaker 5: with your children, with your family, your spouse, your money,

842
00:36:28,080 --> 00:36:32,200
Speaker 5: everybody has challenges. So you know, we just we just

843
00:36:32,680 --> 00:36:34,520
Speaker 5: live like you know. Of course, it's good days, it's

844
00:36:34,520 --> 00:36:36,719
Speaker 5: bad days. There's there's wins, there's losses. Everything is a

845
00:36:36,800 --> 00:36:38,640
Speaker 5: lesson And I feel like, you know, a lot of

846
00:36:38,640 --> 00:36:41,920
Speaker 5: times we share different things that have happened to us

847
00:36:42,000 --> 00:36:44,880
Speaker 5: or are currently happening to us with our audience and

848
00:36:45,040 --> 00:36:47,400
Speaker 5: they get some level of insight. Hopefully they can avoid

849
00:36:47,440 --> 00:36:50,560
Speaker 5: making making some mistakes. But now you can't really look

850
00:36:50,600 --> 00:36:52,680
Speaker 5: at it from a victim standpoint. You can't look at it.

851
00:36:52,719 --> 00:36:54,839
Speaker 5: You can't feel sorry for yourself because nobody's gonna feel

852
00:36:54,840 --> 00:36:57,440
Speaker 5: sorry for you. And I think that just leads to,

853
00:36:57,719 --> 00:37:01,000
Speaker 5: you know, depression, that leads to anger, that leads to

854
00:37:01,040 --> 00:37:02,799
Speaker 5: a variety of different things. When you start to think

855
00:37:02,840 --> 00:37:04,839
Speaker 5: about like, Okay, well why did this go bad for me?

856
00:37:04,920 --> 00:37:06,480
Speaker 5: Or I come this thing work out for me, or

857
00:37:06,520 --> 00:37:08,319
Speaker 5: I come this thing go You just gotta keep going

858
00:37:08,719 --> 00:37:10,759
Speaker 5: like life is about just moving forward, Like you know

859
00:37:10,920 --> 00:37:13,080
Speaker 5: it's not going. Everything is not gonna always work out,

860
00:37:13,120 --> 00:37:15,839
Speaker 5: but that's part of the journey. Trying not to get

861
00:37:15,840 --> 00:37:17,560
Speaker 5: too high, try not to get too low. Just stay,

862
00:37:17,680 --> 00:37:19,799
Speaker 5: just stay even because you know, when you get too

863
00:37:19,840 --> 00:37:22,439
Speaker 5: high emotionally, you setting yourself up for a crash because

864
00:37:22,480 --> 00:37:24,440
Speaker 5: it's not always going to be great. When you get

865
00:37:24,480 --> 00:37:26,319
Speaker 5: too low, you sen yourself up with depression because it's

866
00:37:26,360 --> 00:37:28,000
Speaker 5: not always going to be bad. So if you just

867
00:37:28,000 --> 00:37:29,960
Speaker 5: stay in the middle, then I feel like you know

868
00:37:30,400 --> 00:37:33,000
Speaker 5: you'll be positioned to whether it's storm.

869
00:37:33,360 --> 00:37:35,120
Speaker 2: And don't you think people have to get a little

870
00:37:35,719 --> 00:37:39,839
Speaker 2: more realistic and comfortable with being uncomfortable. No growth ever

871
00:37:40,000 --> 00:37:44,440
Speaker 2: came when you're comfortable and just kind of reframing, Okay,

872
00:37:44,480 --> 00:37:47,320
Speaker 2: these challenges are actually tools instead of oh my gosh,

873
00:37:47,320 --> 00:37:50,080
Speaker 2: this feels terrible and getting so lost and the feeling

874
00:37:50,120 --> 00:37:53,400
Speaker 2: of it. Feelings pass unless you dwell on them, and

875
00:37:53,480 --> 00:37:54,880
Speaker 2: just like kind of getting over yourself.

876
00:37:54,960 --> 00:37:55,480
Speaker 3: It's crazy.

877
00:37:55,520 --> 00:37:55,759
Speaker 4: I was.

878
00:37:55,800 --> 00:37:58,319
Speaker 6: I was just listening to Scissor on the Way and

879
00:37:59,000 --> 00:38:01,640
Speaker 6: on the first songs you talk about I gotta have

880
00:38:01,719 --> 00:38:04,440
Speaker 6: to be broken for it to grow, and so that

881
00:38:05,040 --> 00:38:07,719
Speaker 6: that's life, right, Like you're gonna get stronger from the

882
00:38:07,760 --> 00:38:10,200
Speaker 6: healing because you learned from something that you didn't have,

883
00:38:10,320 --> 00:38:11,920
Speaker 6: Like there's a chink in your armor that you now

884
00:38:12,000 --> 00:38:15,439
Speaker 6: have that you didn't have a prior to your circumstances.

885
00:38:15,480 --> 00:38:18,239
Speaker 6: And that goes to anything investment included. I remember that

886
00:38:18,280 --> 00:38:21,040
Speaker 6: there's days when it's like there's an emotional roller coaster.

887
00:38:21,040 --> 00:38:22,319
Speaker 3: I just tell people put your seatboat on.

888
00:38:22,840 --> 00:38:23,000
Speaker 2: Yeah.

889
00:38:23,040 --> 00:38:25,279
Speaker 1: I always say it's like even some things, you might

890
00:38:25,320 --> 00:38:28,200
Speaker 1: take some losses, but that's like paying for education and classes.

891
00:38:28,520 --> 00:38:30,200
Speaker 1: You know, we pay to go to school, and so

892
00:38:30,239 --> 00:38:31,759
Speaker 1: I always look at it it's like, well that was

893
00:38:31,800 --> 00:38:34,000
Speaker 1: a school for me, Like I just invested in some

894
00:38:34,160 --> 00:38:36,440
Speaker 1: education to learn from what just happened.

895
00:38:36,840 --> 00:38:40,000
Speaker 6: I mean, you're not going to succeed if you have

896
00:38:40,040 --> 00:38:42,200
Speaker 6: a short term mindset when it comes to investing in

897
00:38:42,320 --> 00:38:45,239
Speaker 6: becoming wealthy. It's not going to happen overnight, right, it

898
00:38:45,239 --> 00:38:46,880
Speaker 6: may not even happen on your time. Don't happen in

899
00:38:46,880 --> 00:38:50,600
Speaker 6: God's will, right, So, like we would purpose to do this, right,

900
00:38:50,680 --> 00:38:52,880
Speaker 6: Like you even think about our careers prize to this

901
00:38:53,000 --> 00:38:57,200
Speaker 6: financial advisor teacher, Yeah, we would individuals before this, But

902
00:38:57,239 --> 00:38:59,440
Speaker 6: like when we're together, that makes financial literacy. It just

903
00:38:59,520 --> 00:39:02,799
Speaker 6: kind of works out that way. And so you got

904
00:39:02,840 --> 00:39:05,080
Speaker 6: to have and it's funny because we I was gonna

905
00:39:05,120 --> 00:39:08,440
Speaker 6: lose to it. Like, but like having not having emotions

906
00:39:08,440 --> 00:39:10,600
Speaker 6: when it comes to investment sometimes works for you, right,

907
00:39:10,640 --> 00:39:13,439
Speaker 6: Like I don't love a company, I'll invest in a company, right,

908
00:39:13,480 --> 00:39:16,200
Speaker 6: I don't love this piece of property, but I'll invest

909
00:39:16,200 --> 00:39:18,839
Speaker 6: in that property. Right, So you take that piece out

910
00:39:18,920 --> 00:39:21,000
Speaker 6: of it. Now you realize this is something that's just

911
00:39:21,040 --> 00:39:23,080
Speaker 6: trying to make those soldiers work, Yeah, a little bit

912
00:39:23,080 --> 00:39:24,240
Speaker 6: harder so they can bring back.

913
00:39:24,080 --> 00:39:26,719
Speaker 2: More Money's so great. I mean you it ultimately ends

914
00:39:26,760 --> 00:39:28,560
Speaker 2: up being a spiritual journey because you got to learn

915
00:39:28,600 --> 00:39:31,480
Speaker 2: how to transcend fear, it'll teach you all those things,

916
00:39:31,719 --> 00:39:33,839
Speaker 2: but investing, I really want your guys take on this.

917
00:39:34,440 --> 00:39:37,480
Speaker 2: Blacks have been the largest number of first time investors

918
00:39:37,480 --> 00:39:39,320
Speaker 2: to the stock market the past couple of years.

919
00:39:39,120 --> 00:39:40,840
Speaker 3: In a row, since twenty nineteen.

920
00:39:40,920 --> 00:39:44,160
Speaker 2: Yep, and there's still this notion. That's the very first

921
00:39:44,239 --> 00:39:46,960
Speaker 2: financial conversation I had with Angel almost ten years ago.

922
00:39:47,000 --> 00:39:48,719
Speaker 2: I came in to talk about how Blacks have to

923
00:39:48,719 --> 00:39:50,960
Speaker 2: lose this notion that you have to be rich to invest.

924
00:39:51,440 --> 00:39:53,520
Speaker 2: It's still out there. I talked to a lot of

925
00:39:53,520 --> 00:39:55,759
Speaker 2: people about, you know, wanting to get out of debt

926
00:39:55,840 --> 00:39:58,240
Speaker 2: and you know, wanting to invest. I can't invest because

927
00:39:58,239 --> 00:39:59,000
Speaker 2: I have debt.

928
00:39:59,239 --> 00:40:02,760
Speaker 1: Right types of debt, and two guys addressing.

929
00:40:02,360 --> 00:40:05,480
Speaker 2: You guys talk about that whole investing part of it

930
00:40:05,760 --> 00:40:07,200
Speaker 2: and our fear of it in your book.

931
00:40:07,800 --> 00:40:08,399
Speaker 4: Yeah, for sure.

932
00:40:08,440 --> 00:40:10,799
Speaker 5: I mean there's some truth to that. I mean, it

933
00:40:10,880 --> 00:40:12,400
Speaker 5: is kind of hard to invest if you don't have

934
00:40:12,440 --> 00:40:15,120
Speaker 5: money to invest. So a lot of people are living

935
00:40:15,160 --> 00:40:17,120
Speaker 5: paycheck to paycheck, a lot of people are in debt,

936
00:40:17,360 --> 00:40:20,319
Speaker 5: so that that's kind of the first part of you know,

937
00:40:21,200 --> 00:40:23,560
Speaker 5: figuring out the financial aspect is figuring out how to

938
00:40:23,560 --> 00:40:25,319
Speaker 5: get out of debt. Figuring out how to manage debt,

939
00:40:25,520 --> 00:40:27,080
Speaker 5: figuring out how to increase your income.

940
00:40:27,360 --> 00:40:28,040
Speaker 4: That's important.

941
00:40:28,520 --> 00:40:31,040
Speaker 5: That is important, figuring out how to budget, figuring out

942
00:40:31,080 --> 00:40:33,520
Speaker 5: how to you know, not spend money on things that

943
00:40:33,560 --> 00:40:36,280
Speaker 5: you don't need so you can have a higher amount

944
00:40:36,280 --> 00:40:38,920
Speaker 5: of discretionary income so you actually can invest. So all

945
00:40:39,000 --> 00:40:42,040
Speaker 5: that stuff is actually comes does come before investing to me.

946
00:40:42,560 --> 00:40:46,520
Speaker 5: But then it's understanding that investing is not really optional,

947
00:40:46,920 --> 00:40:48,880
Speaker 5: like when you give, when you put optional on it,

948
00:40:48,960 --> 00:40:51,160
Speaker 5: then you're never gonna do it. It's like, all right,

949
00:40:51,160 --> 00:40:53,440
Speaker 5: I'm gonna do it after this, after that. After that,

950
00:40:53,480 --> 00:40:55,799
Speaker 5: it's just like, yeah, your cell phone bill, like your

951
00:40:55,800 --> 00:40:58,040
Speaker 5: cell phone bill has to get paid. There's no option,

952
00:40:58,200 --> 00:41:00,840
Speaker 5: Like everybody's going to find a way to pay their

953
00:41:00,880 --> 00:41:03,800
Speaker 5: cell phone bill, right because nobody can live without their phone.

954
00:41:04,080 --> 00:41:05,879
Speaker 5: So it's like you gotta find a way to put

955
00:41:05,920 --> 00:41:10,919
Speaker 5: money away and you can't treat it like if there's

956
00:41:10,960 --> 00:41:14,920
Speaker 5: anything left, I'll get to it at that point in Tom, like,

957
00:41:14,960 --> 00:41:17,640
Speaker 5: you know, you gotta really pay yourself first, and dollar

958
00:41:17,680 --> 00:41:19,520
Speaker 5: cost average and something that we talk about and that's

959
00:41:19,520 --> 00:41:20,840
Speaker 5: the great thing about the four to one K is

960
00:41:20,840 --> 00:41:23,560
Speaker 5: it comes out of your paycheck and it develops a

961
00:41:24,080 --> 00:41:25,719
Speaker 5: discipline form of saving.

962
00:41:25,560 --> 00:41:27,480
Speaker 1: And sometimes it's a match, and then why would you

963
00:41:27,520 --> 00:41:28,600
Speaker 1: not do the free money match?

964
00:41:29,480 --> 00:41:31,719
Speaker 6: And when you do that, the eighth wonder of the

965
00:41:31,719 --> 00:41:33,680
Speaker 6: world comes into account, compounded interest.

966
00:41:34,280 --> 00:41:34,480
Speaker 3: You know.

967
00:41:34,520 --> 00:41:37,040
Speaker 1: When I first started, like getting ready for I did

968
00:41:37,080 --> 00:41:39,520
Speaker 1: my broth, I was only putting fifty dollars in a

969
00:41:39,520 --> 00:41:41,359
Speaker 1: month because I didn't have a lot of money. But

970
00:41:41,400 --> 00:41:43,360
Speaker 1: I was like, I'm gonna do something. And that was

971
00:41:43,400 --> 00:41:45,879
Speaker 1: like super early on for me. And I saw that

972
00:41:45,960 --> 00:41:48,440
Speaker 1: grow and that gave me a lot more confidence. Like

973
00:41:48,560 --> 00:41:50,360
Speaker 1: after a couple of years, I was like, okay, and

974
00:41:50,400 --> 00:41:52,840
Speaker 1: I could do a little bit more. And that was

975
00:41:52,880 --> 00:41:55,239
Speaker 1: before I had paid off like everything, but I was like,

976
00:41:55,280 --> 00:41:57,239
Speaker 1: I can do fifty dollars, you know.

977
00:41:57,440 --> 00:42:00,360
Speaker 6: Yeah, I mean fifty dollars is better than zero. Yeah, right,

978
00:42:00,440 --> 00:42:02,360
Speaker 6: So like even the fact that you did it, that

979
00:42:02,400 --> 00:42:06,239
Speaker 6: takes financial maturity to say, all right, hey, most people

980
00:42:06,239 --> 00:42:08,520
Speaker 6: will create that brokeer's account, right, they'll invest it and

981
00:42:08,760 --> 00:42:10,960
Speaker 6: the stock market will go down and they'll say, I'm out.

982
00:42:10,800 --> 00:42:13,240
Speaker 3: Of here, I lost one hundred dollars, right.

983
00:42:13,120 --> 00:42:15,879
Speaker 6: They're not realizing the education behind it is like eighty

984
00:42:15,880 --> 00:42:18,480
Speaker 6: three percent of the time since nineteen twenty five. The

985
00:42:18,520 --> 00:42:20,719
Speaker 6: stock market that's going up, right, so you have to

986
00:42:20,800 --> 00:42:22,279
Speaker 6: keep it in the long term. That's why I said

987
00:42:22,280 --> 00:42:24,359
Speaker 6: that short term vision is what fails us. We want

988
00:42:24,400 --> 00:42:27,160
Speaker 6: money so fast, right, we haven't had it so long

989
00:42:27,640 --> 00:42:29,719
Speaker 6: that as soon as like there's an opportunity. That's why

990
00:42:29,760 --> 00:42:31,920
Speaker 6: I said crypto is important because the asset class, but

991
00:42:32,000 --> 00:42:34,520
Speaker 6: invest in the market is important. As soon as we

992
00:42:34,560 --> 00:42:36,640
Speaker 6: see money, we're like, oh wait, we made some and

993
00:42:36,640 --> 00:42:37,960
Speaker 6: if we lose it, it's like I'm out of here.

994
00:42:37,960 --> 00:42:40,520
Speaker 6: I'm never doing this again. But we got to learn, right.

995
00:42:40,960 --> 00:42:42,839
Speaker 6: It takes a process. Right in two thousand and eight,

996
00:42:42,880 --> 00:42:45,200
Speaker 6: that was me. I invested in the market, then the

997
00:42:45,239 --> 00:42:47,600
Speaker 6: market crash, I'm like, damn, I'm out of here. I

998
00:42:47,640 --> 00:42:50,120
Speaker 6: had invested in Apple it was eighty five dollars. If

999
00:42:50,160 --> 00:42:52,560
Speaker 6: I had just kept the money in there, I mean,

1000
00:42:52,640 --> 00:42:54,239
Speaker 6: Apple doesn't split three times.

1001
00:42:54,480 --> 00:42:57,520
Speaker 2: The first people to panic aerial investments, so the first

1002
00:42:57,520 --> 00:43:01,000
Speaker 2: people to pan excel in a falling life. We also

1003
00:43:01,080 --> 00:43:03,920
Speaker 2: have a lot of us are first generation. We're carrying

1004
00:43:03,960 --> 00:43:06,279
Speaker 2: that extra weight for eight times more likely to be

1005
00:43:07,160 --> 00:43:09,040
Speaker 2: financially supporting family members.

1006
00:43:09,040 --> 00:43:11,920
Speaker 3: So it's a lot and nobody taught us like I can't.

1007
00:43:11,960 --> 00:43:14,879
Speaker 6: I couldn't ask my dad for advice he has even now,

1008
00:43:14,920 --> 00:43:17,680
Speaker 6: like he's watching Market Mondays and talking to me about.

1009
00:43:18,360 --> 00:43:20,080
Speaker 2: Time to start watching Wealth Wednesdays.

1010
00:43:20,160 --> 00:43:24,600
Speaker 3: Of course I know he's watching it because he's.

1011
00:43:24,520 --> 00:43:26,719
Speaker 1: Learning, so at the time, it's never too late to learn,

1012
00:43:26,920 --> 00:43:27,279
Speaker 1: never did.

1013
00:43:27,320 --> 00:43:29,680
Speaker 6: There's no age limit to this, and that's the beautiful things.

1014
00:43:29,760 --> 00:43:31,600
Speaker 6: And I know we talk about our community a lot,

1015
00:43:31,640 --> 00:43:33,320
Speaker 6: but the book is really for all communities.

1016
00:43:33,920 --> 00:43:35,560
Speaker 3: Right, Like my next door neighbor would hit me.

1017
00:43:35,680 --> 00:43:37,680
Speaker 6: I gave him a copy for Christmas and he was like, look,

1018
00:43:38,360 --> 00:43:39,960
Speaker 6: this is an incredible kind of just half an hour

1019
00:43:39,960 --> 00:43:40,359
Speaker 6: of your time.

1020
00:43:40,400 --> 00:43:45,800
Speaker 3: I'm like, come on side. We can talk about it.

1021
00:43:45,920 --> 00:43:48,839
Speaker 1: You'll talk about viral questions that happened on social media,

1022
00:43:48,880 --> 00:43:51,200
Speaker 1: which is always a fun thing because, like I said,

1023
00:43:51,200 --> 00:43:53,560
Speaker 1: this is a really relatable book for anybody.

1024
00:43:53,640 --> 00:43:53,799
Speaker 4: Right.

1025
00:43:54,040 --> 00:43:56,200
Speaker 1: So one of those questions that you guys had on

1026
00:43:56,239 --> 00:43:57,600
Speaker 1: there is about co signing.

1027
00:43:57,680 --> 00:43:57,799
Speaker 5: Right.

1028
00:43:57,840 --> 00:44:00,440
Speaker 1: There was this whole thing that went viral where this

1029
00:44:00,520 --> 00:44:02,040
Speaker 1: woman wanted to I think it was her brother's car.

1030
00:44:02,160 --> 00:44:04,880
Speaker 1: She wanted to co sign and her husband told her no,

1031
00:44:05,640 --> 00:44:07,640
Speaker 1: he didn't think it was a good idea because if

1032
00:44:07,680 --> 00:44:10,800
Speaker 1: he already had messed up credit. Clearly he wasn't handling business.

1033
00:44:11,120 --> 00:44:13,320
Speaker 1: And then she ended up giving doing the co sign

1034
00:44:13,600 --> 00:44:16,359
Speaker 1: and then sure enough he defaulted on that, and you know,

1035
00:44:16,440 --> 00:44:20,080
Speaker 1: and then she needed her husband and he told her no. Right,

1036
00:44:20,200 --> 00:44:22,160
Speaker 1: And so I got to ask y'all, like, if a

1037
00:44:22,200 --> 00:44:24,520
Speaker 1: family member did ask you to co sign, because that's

1038
00:44:24,560 --> 00:44:26,880
Speaker 1: a hard thing, you know what I mean when it

1039
00:44:26,920 --> 00:44:29,880
Speaker 1: comes to family and money. So if a family member

1040
00:44:29,960 --> 00:44:32,360
Speaker 1: did ask you to co sign, would you tell them no?

1041
00:44:32,520 --> 00:44:35,440
Speaker 1: What would your your because it's different to give advice,

1042
00:44:35,680 --> 00:44:37,879
Speaker 1: but then can you take that advice family member?

1043
00:44:37,960 --> 00:44:40,120
Speaker 3: Like children or like your.

1044
00:44:40,000 --> 00:44:41,160
Speaker 1: Kids don't getting cars yet?

1045
00:44:41,280 --> 00:44:44,480
Speaker 3: Well I was on yet, but yeah, yeah, I mean

1046
00:44:44,800 --> 00:44:46,960
Speaker 3: I've learned, and this is again something we talk about,

1047
00:44:47,000 --> 00:44:49,239
Speaker 3: like becoming the CEO of the family and understand that

1048
00:44:49,320 --> 00:44:50,280
Speaker 3: knows a complete sentence.

1049
00:44:51,440 --> 00:44:53,640
Speaker 6: The education around it is important. Right, So if I'm

1050
00:44:53,640 --> 00:44:55,120
Speaker 6: gonna tell him, I'm gonn tell them why I'm telling

1051
00:44:55,160 --> 00:44:56,840
Speaker 6: him no, right, Because it might not even be a

1052
00:44:56,880 --> 00:44:59,080
Speaker 6: great decision for you to even have this, this vieing.

1053
00:44:59,080 --> 00:45:00,040
Speaker 2: You don't want to be in the name.

1054
00:45:00,400 --> 00:45:01,319
Speaker 3: Right you mad?

1055
00:45:01,560 --> 00:45:04,480
Speaker 6: You can't afford this, right or your credit might be

1056
00:45:04,560 --> 00:45:06,600
Speaker 6: the issue why you need the co sign, So let's

1057
00:45:06,600 --> 00:45:09,360
Speaker 6: deal with the issue, right, Why is your credit in shambles?

1058
00:45:09,400 --> 00:45:09,560
Speaker 3: Right?

1059
00:45:09,600 --> 00:45:11,600
Speaker 6: Like, how can we improve that so that the next

1060
00:45:11,640 --> 00:45:14,319
Speaker 6: time when you try to get this loan or whatever

1061
00:45:14,360 --> 00:45:16,120
Speaker 6: it is, you won't need a co sign And you're

1062
00:45:16,120 --> 00:45:19,600
Speaker 6: doing this so so like the definitive answer is important,

1063
00:45:19,600 --> 00:45:21,360
Speaker 6: but the education of why you're giving the answer, I

1064
00:45:21,440 --> 00:45:22,680
Speaker 6: think is equally as important.

1065
00:45:23,239 --> 00:45:26,200
Speaker 2: And also when family members ask for money, a lot

1066
00:45:26,200 --> 00:45:27,879
Speaker 2: of times they'll do, you know, pull you aside. Look,

1067
00:45:27,880 --> 00:45:31,040
Speaker 2: I'm in a tight spot. It's not just your money,

1068
00:45:31,560 --> 00:45:35,399
Speaker 2: Like you're taking money out of our family. Again, it's

1069
00:45:35,520 --> 00:45:38,160
Speaker 2: not just your money. You're taking money. Maybe they get

1070
00:45:38,239 --> 00:45:40,960
Speaker 2: you got it, you got it, Like like I have

1071
00:45:41,040 --> 00:45:43,799
Speaker 2: a budget. You're asking me to throw my budget out

1072
00:45:43,840 --> 00:45:46,560
Speaker 2: of alignment. And if someone's still going to ask you that,

1073
00:45:46,560 --> 00:45:48,759
Speaker 2: that might say something about the friendship.

1074
00:45:49,400 --> 00:45:52,720
Speaker 1: Like somebody tell me like they needed five thousand dollars

1075
00:45:52,719 --> 00:45:54,840
Speaker 1: and I was like, I'm not and they were like

1076
00:45:54,880 --> 00:45:57,080
Speaker 1: that's a drop in the bucket for you, And I

1077
00:45:57,120 --> 00:45:59,920
Speaker 1: was like, stop believe in fake YouTube's about my STI

1078
00:46:00,000 --> 00:46:00,839
Speaker 1: gallery in my house.

1079
00:46:01,080 --> 00:46:04,279
Speaker 2: You never know someone's financial situation, but to think of

1080
00:46:05,400 --> 00:46:07,200
Speaker 2: I see you really not And this must touch the

1081
00:46:07,239 --> 00:46:11,480
Speaker 2: nerves about your asking. So one I always say a

1082
00:46:11,560 --> 00:46:14,160
Speaker 2: thing to say, could be let me talk to my

1083
00:46:14,280 --> 00:46:17,239
Speaker 2: family about it, because it affects all. My wife said

1084
00:46:17,239 --> 00:46:22,040
Speaker 2: any thing everybody, but she got a.

1085
00:46:22,000 --> 00:46:22,239
Speaker 6: New She.

1086
00:46:24,760 --> 00:46:26,360
Speaker 3: Earned it, everything earned.

1087
00:46:27,360 --> 00:46:29,680
Speaker 6: It's just it's interesting, this is this is what they

1088
00:46:29,719 --> 00:46:32,680
Speaker 6: don't prepare you for, right, Like there's no school for this,

1089
00:46:32,840 --> 00:46:36,399
Speaker 6: There's there's no like I can lean on. Like again,

1090
00:46:36,440 --> 00:46:38,120
Speaker 6: I can't lean on my parents for this, my cous

1091
00:46:38,280 --> 00:46:40,400
Speaker 6: like you're the CEO now and so.

1092
00:46:42,200 --> 00:46:45,200
Speaker 1: Uh, it's a journey because I can't tell my brother now.

1093
00:46:45,680 --> 00:46:47,560
Speaker 1: I feel like I just can't do it.

1094
00:46:47,640 --> 00:46:49,919
Speaker 3: I realized more than you.

1095
00:46:49,840 --> 00:46:52,719
Speaker 2: Know that about yourself. You also have to think about, Okay,

1096
00:46:52,719 --> 00:46:54,279
Speaker 2: if I say no to this person, how am I

1097
00:46:54,320 --> 00:46:56,840
Speaker 2: going to feel about me? But also if I this

1098
00:46:56,920 --> 00:46:58,479
Speaker 2: is going to stretch me and I have a trouble,

1099
00:46:58,600 --> 00:47:01,799
Speaker 2: trouble playing my child's tuition and next month because I

1100
00:47:01,840 --> 00:47:02,480
Speaker 2: did this.

1101
00:47:02,880 --> 00:47:07,040
Speaker 6: It's a big right, But then we realize money isn't

1102
00:47:07,040 --> 00:47:08,080
Speaker 6: the issue.

1103
00:47:08,880 --> 00:47:09,759
Speaker 1: What is going to happen again?

1104
00:47:09,840 --> 00:47:09,920
Speaker 2: Right?

1105
00:47:09,920 --> 00:47:11,520
Speaker 6: Because if you need it now, then what's going to

1106
00:47:11,560 --> 00:47:13,120
Speaker 6: stop it from six six months from now?

1107
00:47:13,239 --> 00:47:14,560
Speaker 2: No, you're not going to be probably not going to

1108
00:47:14,640 --> 00:47:15,160
Speaker 2: get it. Back.

1109
00:47:15,480 --> 00:47:18,719
Speaker 1: Well, we know that that's a given side. What are

1110
00:47:18,719 --> 00:47:20,000
Speaker 1: you doing? Are you co signing?

1111
00:47:20,320 --> 00:47:20,520
Speaker 4: Well?

1112
00:47:20,640 --> 00:47:22,160
Speaker 5: Now, I mean if I'm gonna do something, I would

1113
00:47:22,239 --> 00:47:24,640
Speaker 5: rather just do it for you, like if I'm like

1114
00:47:25,040 --> 00:47:28,200
Speaker 5: as opposed to coast, like, all right, co sign a car, right,

1115
00:47:28,239 --> 00:47:31,719
Speaker 5: Like like if you need money, and then I'd rather

1116
00:47:31,800 --> 00:47:32,239
Speaker 5: just give you.

1117
00:47:32,239 --> 00:47:35,479
Speaker 1: Money, okay, if the credit but if you know, maybe

1118
00:47:35,480 --> 00:47:37,360
Speaker 1: sometimes the credit is an issue, would give them the

1119
00:47:37,440 --> 00:47:38,200
Speaker 1: money for the car.

1120
00:47:38,800 --> 00:47:41,400
Speaker 5: No, I'm just saying like, if it's a situation like okay,

1121
00:47:41,440 --> 00:47:43,960
Speaker 5: I need X, Y and Z, right, it's either or

1122
00:47:44,000 --> 00:47:47,399
Speaker 5: you can actually just put the car on your name, okay, right.

1123
00:47:48,239 --> 00:47:50,239
Speaker 5: But most of the time I felt like, oh.

1124
00:47:50,480 --> 00:47:54,600
Speaker 1: Brother, he's really nice ninety for the friend.

1125
00:47:56,120 --> 00:48:01,479
Speaker 2: We are. We're like fifth cousins. You just don't know it.

1126
00:48:03,360 --> 00:48:04,880
Speaker 5: I mean, it's just one of these things like you know,

1127
00:48:05,480 --> 00:48:09,440
Speaker 5: you shouldn't like even loaning money, you shouldn't. You shouldn't

1128
00:48:09,880 --> 00:48:11,680
Speaker 5: ask the ball money from somebody if you know you

1129
00:48:11,680 --> 00:48:14,439
Speaker 5: can't pay it back. But also you shouldn't loan money

1130
00:48:14,480 --> 00:48:16,239
Speaker 5: to somebody that you know can't pay you back. It's

1131
00:48:16,280 --> 00:48:19,120
Speaker 5: irresponsible on both on both people's decisions. So if I'm

1132
00:48:19,120 --> 00:48:20,880
Speaker 5: gonna do something to If I'm gonna do something for you,

1133
00:48:20,920 --> 00:48:24,840
Speaker 5: then I'll do it out of love and I'm not

1134
00:48:24,920 --> 00:48:26,759
Speaker 5: expecting to get the money back. If I get it back,

1135
00:48:26,800 --> 00:48:29,919
Speaker 5: then it's a blessing. And then if somebody is continuously

1136
00:48:29,960 --> 00:48:32,080
Speaker 5: asking you for money, then that's that's your fault for

1137
00:48:32,280 --> 00:48:35,000
Speaker 5: actually having that type of energy around you. I don't

1138
00:48:35,040 --> 00:48:36,879
Speaker 5: have people around me like that. I don't have people

1139
00:48:36,960 --> 00:48:39,440
Speaker 5: around me that's asking me for money. If they ask

1140
00:48:39,480 --> 00:48:41,080
Speaker 5: me for money or not they really need it. I

1141
00:48:41,080 --> 00:48:43,120
Speaker 5: don't have people that's asking me for money every week

1142
00:48:43,239 --> 00:48:45,120
Speaker 5: every two weeks. If they were asking me for money

1143
00:48:45,160 --> 00:48:47,480
Speaker 5: every two weeks, then they wouldn't be around me. That's

1144
00:48:47,520 --> 00:48:49,680
Speaker 5: that simple for me. I would just end that relationship

1145
00:48:49,719 --> 00:48:52,839
Speaker 5: because it's it's it's a seesaw that I'm not I'm

1146
00:48:52,880 --> 00:48:56,160
Speaker 5: not benefiting from. I mean, it's this is a pattern

1147
00:48:56,719 --> 00:48:59,520
Speaker 5: and you're you're taking advantage of the situation. So I

1148
00:48:59,520 --> 00:49:01,400
Speaker 5: think that that's a lot of times we like to

1149
00:49:01,480 --> 00:49:03,680
Speaker 5: look at other people. When I look at ourselves, you

1150
00:49:03,719 --> 00:49:06,279
Speaker 5: gotta look at yourself. Why are you enabling these persons?

1151
00:49:06,640 --> 00:49:09,000
Speaker 5: Why they feel comfortable asking you? Why you have this

1152
00:49:09,040 --> 00:49:10,879
Speaker 5: person so close that they can even do that that

1153
00:49:10,880 --> 00:49:13,040
Speaker 5: that speaks a lot about about you, like.

1154
00:49:13,400 --> 00:49:15,879
Speaker 2: Me, being like the here of might you might, you might,

1155
00:49:15,920 --> 00:49:16,600
Speaker 2: you might need.

1156
00:49:16,480 --> 00:49:19,279
Speaker 5: That type of energy to fulfill your ego to make

1157
00:49:19,320 --> 00:49:21,319
Speaker 5: you feel like, you know, you're I don't need that.

1158
00:49:21,680 --> 00:49:24,840
Speaker 5: So yeah, so I don't have people around me like that.

1159
00:49:24,960 --> 00:49:28,680
Speaker 5: Nobody around me is asking me for for for money

1160
00:49:28,800 --> 00:49:32,000
Speaker 5: on an ongoing basis and try and take advantage of me.

1161
00:49:32,200 --> 00:49:34,600
Speaker 2: Tell them I will and I do this. If someone

1162
00:49:34,640 --> 00:49:37,880
Speaker 2: asks me for financial help, Okay, when's your appointment with

1163
00:49:37,920 --> 00:49:41,000
Speaker 2: their financial planner, I'll give it to them. I'm not

1164
00:49:41,040 --> 00:49:43,040
Speaker 2: gonna you know, if you have a way to get

1165
00:49:43,080 --> 00:49:45,400
Speaker 2: out of someone what has needs to borrow money, that

1166
00:49:45,440 --> 00:49:47,080
Speaker 2: means they're gonna have to pay you back. They're going

1167
00:49:47,160 --> 00:49:48,799
Speaker 2: to have to get a job that's like double the

1168
00:49:48,880 --> 00:49:51,399
Speaker 2: current salary to get to the point where they could

1169
00:49:51,440 --> 00:49:52,839
Speaker 2: pay you back. They're not going to pay you back.

1170
00:49:52,880 --> 00:49:55,040
Speaker 2: So show me that plan first.

1171
00:49:55,239 --> 00:49:57,320
Speaker 6: And the fact that you're in this situation speaks to

1172
00:49:57,480 --> 00:49:59,120
Speaker 6: maybe there's a lack of financial discipline.

1173
00:49:59,160 --> 00:50:01,760
Speaker 3: There is no plan ye, and so again it becomes

1174
00:50:01,760 --> 00:50:02,360
Speaker 3: even tough.

1175
00:50:02,400 --> 00:50:04,399
Speaker 1: And you guys are very explicit in this book also

1176
00:50:04,400 --> 00:50:07,160
Speaker 1: about not trying to shame people for being in the

1177
00:50:07,239 --> 00:50:10,239
Speaker 1: situation that they're in, you know. And I think that's

1178
00:50:10,280 --> 00:50:13,080
Speaker 1: important too, because people do feel shame when it comes

1179
00:50:13,080 --> 00:50:16,319
Speaker 1: to discussing money topics and any type of hardships. When

1180
00:50:16,360 --> 00:50:18,840
Speaker 1: you ask people, even me, as to my mom, like okay,

1181
00:50:19,120 --> 00:50:21,400
Speaker 1: what's your credit score? Let's you know, clean your stuff up.

1182
00:50:21,400 --> 00:50:23,120
Speaker 1: She did not want to give me no type of

1183
00:50:23,120 --> 00:50:26,440
Speaker 1: information at all. And I was like, I'm offering to

1184
00:50:26,480 --> 00:50:29,200
Speaker 1: help pay off your credit card bills, Like you don't

1185
00:50:29,200 --> 00:50:30,920
Speaker 1: want to tell me. How about you just get me

1186
00:50:30,960 --> 00:50:32,480
Speaker 1: in and I'll do it. I'm like, man, just let

1187
00:50:32,520 --> 00:50:35,080
Speaker 1: me help you. Like, but she's like, it's the shame

1188
00:50:35,160 --> 00:50:38,680
Speaker 1: of not being financially responsible. But like you said, we

1189
00:50:38,680 --> 00:50:41,080
Speaker 1: shouldn't feel the shame in that, but we should be

1190
00:50:41,120 --> 00:50:42,920
Speaker 1: able to face those things and deal with it.

1191
00:50:43,560 --> 00:50:45,719
Speaker 2: And you should put people in prison for being in debt.

1192
00:50:45,840 --> 00:50:47,200
Speaker 2: I mean there's a lot of history.

1193
00:50:48,160 --> 00:50:49,880
Speaker 3: Yeah, I mean that's why.

1194
00:50:50,719 --> 00:50:54,799
Speaker 6: And I think it's important that conversations that had early on, right. So,

1195
00:50:54,880 --> 00:50:57,600
Speaker 6: like my kids, they feel comfortable talking about money.

1196
00:50:57,760 --> 00:50:59,360
Speaker 3: They want to know how much money is in their account.

1197
00:50:59,400 --> 00:51:01,000
Speaker 6: They want they want not much money's in my account,

1198
00:51:01,000 --> 00:51:02,680
Speaker 6: They want to give my brokerage, they want to know

1199
00:51:02,680 --> 00:51:03,320
Speaker 6: what I invested.

1200
00:51:03,640 --> 00:51:05,320
Speaker 3: They feel comfortable. So when it comes down to the

1201
00:51:05,400 --> 00:51:07,400
Speaker 3: credit score, they I mean, this is gonna be like that?

1202
00:51:07,520 --> 00:51:09,399
Speaker 3: What is it like? Why won't you tell me? They've

1203
00:51:09,400 --> 00:51:10,319
Speaker 3: ever been accustomed to it?

1204
00:51:10,320 --> 00:51:12,439
Speaker 6: Whereas, like you said, there's a generation of us where

1205
00:51:12,440 --> 00:51:14,839
Speaker 6: it's like I didn't know how much my dad made

1206
00:51:15,239 --> 00:51:17,080
Speaker 6: right until I had to go to college. We had

1207
00:51:17,120 --> 00:51:19,560
Speaker 6: to fill off ast for and I'm like, wait, the

1208
00:51:19,560 --> 00:51:21,759
Speaker 6: physic that teacher make it more than my dad, right,

1209
00:51:21,800 --> 00:51:24,120
Speaker 6: And it was like he worked hard for that, but

1210
00:51:24,280 --> 00:51:27,239
Speaker 6: he never we never spoke about it, Like to this day,

1211
00:51:27,239 --> 00:51:27,560
Speaker 6: I know, I.

1212
00:51:27,560 --> 00:51:29,799
Speaker 1: Don't know what my mom meane, I don't know either.

1213
00:51:29,800 --> 00:51:31,480
Speaker 3: I don't know what either one of my exactly. And

1214
00:51:31,480 --> 00:51:33,759
Speaker 3: it's like, how did we get this far not knowing

1215
00:51:33,800 --> 00:51:34,759
Speaker 3: these things? Right?

1216
00:51:34,840 --> 00:51:36,840
Speaker 6: Because again, they could say, all right, that could have

1217
00:51:36,880 --> 00:51:39,640
Speaker 6: been the climax for me. I could be like, you know,

1218
00:51:39,719 --> 00:51:41,480
Speaker 6: my dad made one hundred and twenty five thousand. I

1219
00:51:41,600 --> 00:51:43,440
Speaker 6: want to be better than him, right, I just want

1220
00:51:43,440 --> 00:51:45,520
Speaker 6: to make more than that, right, But I never knew.

1221
00:51:45,719 --> 00:51:47,560
Speaker 6: So I just kind of figure out, like what I

1222
00:51:47,600 --> 00:51:49,959
Speaker 6: saw my physic teacher, how much you made, I gotta

1223
00:51:49,960 --> 00:51:51,640
Speaker 6: make more than him, and that became my mark when

1224
00:51:51,680 --> 00:51:52,160
Speaker 6: I was eighteen.

1225
00:51:52,160 --> 00:51:53,920
Speaker 3: I gotta make one hundred and twenty five. That's it.

1226
00:51:54,000 --> 00:51:55,359
Speaker 6: I got to make six figures, and that's I got

1227
00:51:55,400 --> 00:51:57,600
Speaker 6: to figure out how to get there. So I mean,

1228
00:51:57,640 --> 00:51:59,840
Speaker 6: it's a conversation that needs to be had, and I

1229
00:51:59,880 --> 00:52:03,600
Speaker 6: think things happening right. As more people become more confident

1230
00:52:03,719 --> 00:52:07,719
Speaker 6: talking about money, As more podcasts and shows people are

1231
00:52:07,719 --> 00:52:10,080
Speaker 6: talking about money, as more entertainers are talking about money

1232
00:52:10,080 --> 00:52:13,640
Speaker 6: and investing in entrepreneurship, the conversation becomes lighter. And I

1233
00:52:13,680 --> 00:52:16,600
Speaker 6: can use music as a reference now, whereas that wasn't

1234
00:52:16,640 --> 00:52:18,200
Speaker 6: always the case. I can use a show as a

1235
00:52:18,200 --> 00:52:20,160
Speaker 6: reference now, I can use a book as a reference.

1236
00:52:20,200 --> 00:52:22,880
Speaker 6: Route for so long, what was the resource that we

1237
00:52:22,880 --> 00:52:24,160
Speaker 6: were using in our community?

1238
00:52:24,320 --> 00:52:26,360
Speaker 2: And when you think about what a big impact the

1239
00:52:26,360 --> 00:52:29,759
Speaker 2: way your parents' relationship with money had on yours, I

1240
00:52:29,880 --> 00:52:33,120
Speaker 2: say to all parents, that's what you are for you.

1241
00:52:33,120 --> 00:52:36,000
Speaker 2: Your child can be your best financial tool, because what

1242
00:52:36,080 --> 00:52:37,600
Speaker 2: do I have to put out? How do I have

1243
00:52:37,640 --> 00:52:40,360
Speaker 2: to change my own behavior to be the role model

1244
00:52:40,200 --> 00:52:44,759
Speaker 2: my kid needs them to be. But our community, a

1245
00:52:44,800 --> 00:52:46,920
Speaker 2: lot of people work hard at their finances, They do

1246
00:52:47,000 --> 00:52:50,560
Speaker 2: everything right, and then it completely completely falls apart by

1247
00:52:50,560 --> 00:52:54,440
Speaker 2: the lack of an estate plan and life changes like that.

1248
00:52:54,800 --> 00:52:58,200
Speaker 2: I'm shared with Angela many times. My father battled dementia

1249
00:52:58,239 --> 00:53:00,640
Speaker 2: for many years and then all of a sudden needed

1250
00:53:00,640 --> 00:53:02,919
Speaker 2: around the care help, and then all of a sudden,

1251
00:53:02,960 --> 00:53:05,479
Speaker 2: out of nowhere, I'm twenty five thousand dollars a month

1252
00:53:06,400 --> 00:53:09,680
Speaker 2: and he lived for three years, and that can change.

1253
00:53:09,840 --> 00:53:12,640
Speaker 2: And he had his stuff set up, but I mean,

1254
00:53:12,800 --> 00:53:15,920
Speaker 2: it can change on a dime, and people don't seem

1255
00:53:15,960 --> 00:53:16,880
Speaker 2: to understand that.

1256
00:53:17,960 --> 00:53:21,800
Speaker 6: It's It's interesting and even during this journey of nalsia,

1257
00:53:22,000 --> 00:53:24,759
Speaker 6: like estate plans weren't even something we talked about. I

1258
00:53:24,840 --> 00:53:28,600
Speaker 6: sat down with my parents and created my dad's estate plan, right,

1259
00:53:28,719 --> 00:53:32,200
Speaker 6: so like I'm the person that's I got an attorney

1260
00:53:32,200 --> 00:53:33,720
Speaker 6: and we sat down, we had the meetings.

1261
00:53:33,920 --> 00:53:36,200
Speaker 3: It was like the episode of Insecure.

1262
00:53:36,840 --> 00:53:38,680
Speaker 6: I'm like, it felt like that for me, and I'm

1263
00:53:38,719 --> 00:53:41,239
Speaker 6: just like, man, this is a little bit uncomfortable.

1264
00:53:41,520 --> 00:53:44,400
Speaker 3: I was happy to you being in that position because

1265
00:53:44,600 --> 00:53:45,359
Speaker 3: it's number one.

1266
00:53:45,400 --> 00:53:47,839
Speaker 6: Told me that they trust me when it comes to money, right,

1267
00:53:47,840 --> 00:53:49,719
Speaker 6: they want to They knew that that if I was

1268
00:53:49,719 --> 00:53:51,160
Speaker 6: looking over this, that this was going to be the

1269
00:53:51,239 --> 00:53:51,839
Speaker 6: right thing, right.

1270
00:53:51,960 --> 00:53:54,000
Speaker 3: And then I got the bill for the estate plan,

1271
00:53:54,560 --> 00:53:55,879
Speaker 3: and I was like, oh, this.

1272
00:53:55,840 --> 00:53:59,399
Speaker 6: Is on me too, Yeah it is, and that too,

1273
00:54:00,239 --> 00:54:02,200
Speaker 6: but it was he has it in place now, so

1274
00:54:02,239 --> 00:54:05,200
Speaker 6: that gives him some security, whereas.

1275
00:54:04,400 --> 00:54:06,000
Speaker 2: You feel so good when you do it.

1276
00:54:06,320 --> 00:54:10,080
Speaker 6: Yeah, yeah, because he told me this twenty years ago.

1277
00:54:10,320 --> 00:54:13,080
Speaker 6: He was like, everybody wants to live, but nobody wants

1278
00:54:13,120 --> 00:54:15,840
Speaker 6: to prepare to die. We're all going to die, so

1279
00:54:15,880 --> 00:54:17,640
Speaker 6: we should prepare for it. In fact, your death is

1280
00:54:17,680 --> 00:54:19,280
Speaker 6: your responsibility, not anyone else's.

1281
00:54:19,400 --> 00:54:22,480
Speaker 5: And don't give money to people that don't have money.

1282
00:54:23,040 --> 00:54:24,360
Speaker 3: Like this is the things he's always saying.

1283
00:54:24,200 --> 00:54:26,120
Speaker 1: To Shout is like a rapper with him.

1284
00:54:27,280 --> 00:54:30,920
Speaker 5: That's important. That's important, that's important, That's vitally important.

1285
00:54:30,920 --> 00:54:34,520
Speaker 1: Actually right now that well, listen you guys, I'm you know,

1286
00:54:34,960 --> 00:54:37,160
Speaker 1: of course excited about this. You deserve to be rich,

1287
00:54:37,239 --> 00:54:40,000
Speaker 1: mastered the inner game of wealth, and claim your future.

1288
00:54:40,360 --> 00:54:41,600
Speaker 1: I have a lot of things that I need to

1289
00:54:41,600 --> 00:54:43,920
Speaker 1: work on because I'm not perfect either. You know. I

1290
00:54:43,920 --> 00:54:46,840
Speaker 1: feel like I'm I'm way up from where I was,

1291
00:54:48,120 --> 00:54:50,799
Speaker 1: but I'm still on the way up. So that is

1292
00:54:50,840 --> 00:54:52,960
Speaker 1: part of really you know, what this show is about too.

1293
00:54:53,040 --> 00:54:54,880
Speaker 1: So thank you so much for this, thank you for

1294
00:54:54,920 --> 00:54:57,680
Speaker 1: coming up here because I had to ask, like, will

1295
00:54:57,719 --> 00:54:59,200
Speaker 1: you guys please you know.

1296
00:55:00,560 --> 00:55:03,320
Speaker 6: Yeah, I mean we watched Wealth Wednesdays for so many

1297
00:55:04,000 --> 00:55:05,400
Speaker 6: years now, and I was like, when are we going

1298
00:55:05,440 --> 00:55:05,960
Speaker 6: to get a call?

1299
00:55:06,120 --> 00:55:07,319
Speaker 3: You know, like I see a lot I.

1300
00:55:07,239 --> 00:55:08,520
Speaker 1: Had to add. But you know, I know, because you

1301
00:55:08,560 --> 00:55:11,560
Speaker 1: guys are like superstars, you know. So I was like,

1302
00:55:11,800 --> 00:55:13,600
Speaker 1: let me see if they'll do it. I told Stacey.

1303
00:55:13,640 --> 00:55:15,080
Speaker 1: I was like, I'm gonna ask them, but let's see

1304
00:55:15,080 --> 00:55:17,120
Speaker 1: because I know they got, you know, their own thing

1305
00:55:17,239 --> 00:55:20,480
Speaker 1: going on, and but I appreciate it, and honestly, really,

1306
00:55:20,560 --> 00:55:22,439
Speaker 1: for real, congratulations. I love when I see you guys

1307
00:55:22,440 --> 00:55:25,439
Speaker 1: out as human beings and then seeing what you're doing

1308
00:55:25,520 --> 00:55:28,520
Speaker 1: for our community and for everybody, you know, really to

1309
00:55:28,520 --> 00:55:31,640
Speaker 1: make sure that we secure our financial freedom. That's important

1310
00:55:31,680 --> 00:55:33,000
Speaker 1: to me as well, and they should be important to

1311
00:55:33,040 --> 00:55:33,520
Speaker 1: all of us.

1312
00:55:33,560 --> 00:55:36,960
Speaker 2: Their book came out yesterday. Everybody should get it. One

1313
00:55:37,000 --> 00:55:40,000
Speaker 2: final thing, and the book tour is happening. This is

1314
00:55:40,040 --> 00:55:44,080
Speaker 2: the week that some of those January first resolutions start

1315
00:55:44,120 --> 00:55:47,600
Speaker 2: to get a little crazy. What advice do you have

1316
00:55:47,680 --> 00:55:51,239
Speaker 2: for people to stick to their financial resolutions.

1317
00:55:52,080 --> 00:55:55,640
Speaker 6: I would tell them to use history as the greatest lesson.

1318
00:55:55,960 --> 00:55:58,319
Speaker 6: Right if you created a resolution in twenty twenty four,

1319
00:55:58,719 --> 00:56:00,279
Speaker 6: how did your year go right?

1320
00:56:00,360 --> 00:56:01,960
Speaker 3: Did it go as plan right?

1321
00:56:02,080 --> 00:56:05,520
Speaker 6: Well, if you know that's happening, it's a historic lineage

1322
00:56:05,520 --> 00:56:07,600
Speaker 6: of you not sticking to your plan and your life

1323
00:56:07,600 --> 00:56:08,600
Speaker 6: has been in the same position.

1324
00:56:09,920 --> 00:56:10,920
Speaker 3: It's time for a correct.

1325
00:56:10,760 --> 00:56:12,440
Speaker 1: Don't give money to people who don't have any.

1326
00:56:12,800 --> 00:56:14,279
Speaker 3: And don't give money people don't cott.

1327
00:56:15,360 --> 00:56:19,720
Speaker 2: This is accountability partner, What was your face of advice?

1328
00:56:19,760 --> 00:56:19,960
Speaker 4: Face?

1329
00:56:19,960 --> 00:56:20,840
Speaker 2: A six year resolution?

1330
00:56:21,040 --> 00:56:23,359
Speaker 5: You gotta break your goals up into into different time

1331
00:56:23,440 --> 00:56:26,200
Speaker 5: frames because it gets overwhelming if it's just one big goal,

1332
00:56:26,200 --> 00:56:27,279
Speaker 5: like if you have a goal to make one hundred

1333
00:56:27,280 --> 00:56:29,960
Speaker 5: thousand dollars, like that's not really a goal, that's a wish.

1334
00:56:30,000 --> 00:56:32,160
Speaker 5: It's another great book that's called The Twelve Week Year,

1335
00:56:32,200 --> 00:56:35,200
Speaker 5: which actually breaks down how you should actually look at

1336
00:56:35,200 --> 00:56:40,120
Speaker 5: a week, a year and twelve week cycles. So it's

1337
00:56:40,160 --> 00:56:42,480
Speaker 5: like you got to break it down the smaller goals

1338
00:56:42,680 --> 00:56:46,680
Speaker 5: and that makes it more attainable. So like a yearly

1339
00:56:46,800 --> 00:56:50,200
Speaker 5: goal is okay, but a monthly goal is good, a

1340
00:56:50,239 --> 00:56:52,720
Speaker 5: weekly goal is better, and a daily goal is the best.

1341
00:56:53,000 --> 00:56:56,760
Speaker 5: Like conquer the day, right, take it like like they say, hey,

1342
00:56:57,040 --> 00:56:59,040
Speaker 5: one day at a time, that's a real, that's real,

1343
00:56:59,120 --> 00:57:01,080
Speaker 5: like one day at a time. Sometimes we get ahead

1344
00:57:01,080 --> 00:57:03,000
Speaker 5: of ourselves and we get frustrated. That's when you quit,

1345
00:57:03,080 --> 00:57:05,960
Speaker 5: I'm gonna lose fifty pounds, no pathway to do it,

1346
00:57:07,040 --> 00:57:09,040
Speaker 5: and then you just missed the gym. Like I just

1347
00:57:09,160 --> 00:57:11,400
Speaker 5: I need I need to work out for one hour

1348
00:57:11,440 --> 00:57:11,959
Speaker 5: every day.

1349
00:57:12,520 --> 00:57:13,200
Speaker 4: Yeah, I can't.

1350
00:57:13,200 --> 00:57:15,840
Speaker 5: I can't control the results, but odds are if you

1351
00:57:15,880 --> 00:57:17,760
Speaker 5: work out for one hour every day, if you stop

1352
00:57:17,880 --> 00:57:20,600
Speaker 5: drinking soda, if you if you just conquer the day,

1353
00:57:21,000 --> 00:57:23,360
Speaker 5: you're going to see results in three months. Right, But

1354
00:57:24,000 --> 00:57:25,920
Speaker 5: we get ahead of ourselves. Sometimes I lose.

1355
00:57:25,800 --> 00:57:27,520
Speaker 1: Two pounds and then I celebrate.

1356
00:57:32,960 --> 00:57:35,120
Speaker 4: One day, one day, one day at a time, one

1357
00:57:35,200 --> 00:57:35,760
Speaker 4: day at a time.

1358
00:57:36,240 --> 00:57:39,400
Speaker 2: All right, thank you guys for normalizing the wealth conversation

1359
00:57:39,720 --> 00:57:41,760
Speaker 2: in our community, honestly, and.

1360
00:57:41,800 --> 00:57:43,160
Speaker 1: Check them out on their book tour and make sure

1361
00:57:43,200 --> 00:57:45,360
Speaker 1: you buy that book too, please because.

1362
00:57:45,120 --> 00:57:47,360
Speaker 2: You deserve to be rich out right now.

1363
00:57:47,440 --> 00:57:49,200
Speaker 5: And it's the audio version is out also, so you

1364
00:57:49,240 --> 00:57:51,240
Speaker 5: can go to Amazon, you can go to Barnes and

1365
00:57:51,280 --> 00:57:54,120
Speaker 5: Nobles anyway. You know, we're pushing real hard this week,

1366
00:57:54,160 --> 00:57:55,919
Speaker 5: trying to get on the New York Time's bestsellers list,

1367
00:57:55,960 --> 00:57:58,920
Speaker 5: so we need all you feel good too, but you

1368
00:57:58,920 --> 00:58:01,520
Speaker 5: go you never know you secure, you got secure the victory.

1369
00:58:02,080 --> 00:58:04,400
Speaker 1: When is what's happening with investments this year to just

1370
00:58:04,680 --> 00:58:05,240
Speaker 1: it's going to be.

1371
00:58:05,160 --> 00:58:06,400
Speaker 3: Crazy best fast back.

1372
00:58:06,480 --> 00:58:10,680
Speaker 6: We got some announcements, some secured names, so yeah, be

1373
00:58:10,720 --> 00:58:13,800
Speaker 6: on the lookout August, uh and August.

1374
00:58:13,520 --> 00:58:15,400
Speaker 4: Guys should do Wealth Wednesday from investments.

1375
00:58:15,480 --> 00:58:18,280
Speaker 2: You go, you're gonna do we Snesdays. And we totally

1376
00:58:18,280 --> 00:58:21,200
Speaker 2: want to do a financial mindset I'm telling you right now.

1377
00:58:21,200 --> 00:58:23,280
Speaker 3: Speaking in mindset panel.

1378
00:58:23,680 --> 00:58:27,160
Speaker 4: Yeah, hosting or speaking all.

1379
00:58:26,920 --> 00:58:32,440
Speaker 2: Of it now, we'll put it together in the field, honestly.

1380
00:58:32,680 --> 00:58:33,400
Speaker 4: Alright, let's do it.

1381
00:58:33,480 --> 00:58:34,360
Speaker 1: Let's do it, all right,