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Speaker 1: So first it was Okay, can I make one hundred

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Speaker 1: dollars a day? Then when that started becoming easy and

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Speaker 1: I had done that for a while, then it was

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Speaker 1: can I make a thousand dollars a day? And then well,

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Speaker 1: there needs to be a next goal, So I just

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Speaker 1: keep bumping up the goal. Okay, thousand dollars, we've been

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Speaker 1: doing that a little while. How about one hundred thousand?

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Speaker 1: And I desire to always have a bigger goal in mine.

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Speaker 1: So after the one hundred thousand, it was, oh, did

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Speaker 1: that a few times, Let's see if we can make

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Speaker 1: a million dollars in a day.

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Speaker 2: Hello everybody, I'm TV Jakeson. I want to welcome you

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Speaker 2: to next chapter. We've got a very, very exciting guest

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Speaker 2: for you. Let me tell you a few things about

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Speaker 2: our guests. She's a trailblazer, to say the least. She

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Speaker 2: has changed how thousands of people think about money, ownership

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Speaker 2: and financial freedom. She is nationally recognized financial educator, entrepreneur,

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Speaker 2: and the founder of a movement that has helped everyday

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Speaker 2: people learn how to build wealth through investing. Her work

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Speaker 2: sits at the intersection of education, empowerment, and economic justice,

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Speaker 2: redefining what access to financial knowledge can look like. Please

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Speaker 2: join us in welcoming Terry Igioma.

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Speaker 1: If I'm so humble and you've had the greats in

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Speaker 1: these seats you've talked to Olbrah Melody Hobsid, I just

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Speaker 1: I appreciate you. I feel so too.

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Speaker 2: Yeah, we're glad you have a very unique and interesting story.

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Speaker 2: I think I'm going to start though with your mother

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Speaker 2: from Dallas and your father's from Nigeria. Yes, And so

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Speaker 2: I want to know, do you eat fool food?

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Speaker 1: I eat your life, Rice? Do I eat your love?

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Speaker 1: And I do believe in I Jerian and Juelf is

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Speaker 1: better than in July.

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Speaker 2: We don't get in trouble with that all the time.

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Speaker 1: I mean, I gotta people.

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Speaker 2: Yeah, yeah, yeah, I got you.

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Speaker 1: But actually, my dad is so funny. The last time

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Speaker 1: I went to visit, he cooked everything for me because

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Speaker 1: he knew that I could only eat American food and

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Speaker 1: he didn't want me to get sick. So I'm at

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Speaker 1: the house. There's eleven of us. Two of us were

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Speaker 1: born in the US, and everybody else is Nigerian. I'm

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Speaker 1: at the house and he's cooking spaghetti. My little sister's

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Speaker 1: never eating spaghetti. That's not a Nigerian food. But she's

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Speaker 1: like no. He was like no, but for that one,

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Speaker 1: we need spaghetti. Yeah, So he just he doesn't want

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Speaker 1: me to get sick. So I actually haven't eaten a

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Speaker 1: lot of Nigeria food in Nigeria.

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Speaker 2: Chapter number one, Roots and Drive. How much have your

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Speaker 2: entrepreneurial drive and upward and assistance has come from that

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Speaker 2: Nigerian blood? Oh?

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Speaker 1: I think a lot of it. I think my brilliance

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Speaker 1: has come from my Nigerian blood. I just think Nigerians

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Speaker 1: are just so smart. Like we're like intuitive, we're engineers,

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Speaker 1: we're entrepreneurial. We just make sure that there's efficiency and

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Speaker 1: optimization and everything that we do, and then if we're

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Speaker 1: going to do it, we're going to make some money

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Speaker 1: off of it. We're not just going to do it

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Speaker 1: for free. So a lot of my entrepreneurship comes from before.

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Speaker 2: What did he come from? I'm I'm I'm eighty five

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Speaker 2: percent Ebo.

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Speaker 1: Hello, Cao? How are you?

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Speaker 2: I am learning? I'm learning what that means. I'm learning

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Speaker 2: about the language, I'm learning about the culture, I'm learning

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Speaker 2: about the food. I've always had a fascination with different

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Speaker 2: people's culture within and without their ethnicity. I think every

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Speaker 2: family has a culture, every office has a culture, and

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Speaker 2: if you're going to survive well in that atmosphere, you

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Speaker 2: have to understand that culture and respect that culture in

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Speaker 2: order to be able to do it. Obviously, you have

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Speaker 2: done that traveling back and forth and doing what you

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Speaker 2: have been doing. You were in corporate America for a

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Speaker 2: long time.

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Speaker 1: I was. I was in more so nonprofits. So coming

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Speaker 1: out of MIT, I first went into marketing, I went

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Speaker 1: into excuse me, I went into business consulting. It was

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Speaker 1: a company called Monitor Group, but they're not around anymore.

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Speaker 1: And then one of our clients was Teached for America,

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Speaker 1: So then I went over to teach for America side

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Speaker 1: and started working in their teacher development. So that was

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Speaker 1: like my corporate slash move into nonprofits. Then coming out

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Speaker 1: of there, I ended up going into working for the

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Speaker 1: school and working for Ministry full time. So it's just

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Speaker 1: been this interesting trajectory.

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Speaker 2: Chapter number two, Career pivots. Well, as you go through

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Speaker 2: all those different jobs and all those different places, and

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Speaker 2: I think this is an important question because people are

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Speaker 2: having to retool themselves right now. They're having to go

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Speaker 2: from what was familiar places they thought they were going

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Speaker 2: to retire at to retool their skills and get back

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Speaker 2: out there again. What was it like for you being

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Speaker 2: able somewhat of a chameleon to be able to adapt

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Speaker 2: to the environment you were in and give us some tips.

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Speaker 1: Yes, okay, So every single job and every hardship, I

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Speaker 1: think I picked up something new.

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Speaker 2: Okay.

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Speaker 1: So going into consulting, I learned how to think. I

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Speaker 1: learned how to take care of companies, how to think

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Speaker 1: on a bigger scale, how to make sure that problems solve,

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Speaker 1: problems were solved like problem solving. And then I took

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Speaker 1: that into working in education. We had the same kind

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Speaker 1: of problems, but knowing how to optimize a project plan.

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Speaker 1: How do you train We trained tons of teachers actually

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Speaker 1: in Houston. I was ativersity and it's called Houston Institute.

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Speaker 1: But how do you have that same kind of problem

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Speaker 1: solving skill set, but just now in a different field.

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Speaker 1: Then coming out of teaching, I went into ministry. But

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Speaker 1: the cool thing about teaching is you learn how to

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Speaker 1: work with all different types of people. So now in

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Speaker 1: education and ministry, working with all different types of people,

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Speaker 1: how do you see them and talk to them in

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Speaker 1: the way that they want to be spoken to or

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Speaker 1: that they can hear it the best. So just I

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Speaker 1: think it's important to make sure that if there's a

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Speaker 1: skill set that you're remembering, that that skill set is

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Speaker 1: transferable to every different every different job.

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Speaker 2: And it sounds like it's more than one skill set.

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Speaker 1: It is for sure. Actually, I would even say there's

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Speaker 1: a bigger pivot that I had to do recently that's

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Speaker 1: even more important. Like I left the school, started traveling

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Speaker 1: and I afforded it from trading stocks. And then when

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Speaker 1: I was traveling and doing the like teaching people how

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Speaker 1: to trade, I did my first class in talent second

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Speaker 1: in Vietnam. People start asking me to teach them, so

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Speaker 1: I built an online course.

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Speaker 2: Let's stop stop stop sling. Yeah, you go back telling

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Speaker 2: the story too fair Chapter number three, The career Lead.

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Speaker 2: There are so many people who have been laid off

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Speaker 2: unemployed right now, and they've been pushed into having to

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Speaker 2: recreate themselves in some way, and they think in terms

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Speaker 2: of jobs, it is not easy to turn an employee

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Speaker 2: into an entrepreneur. Because the employee comes in, the desk

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Speaker 2: is supplied, the chair is there, the computers there, everything,

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Speaker 2: they're entrepreneur everything that's there. You had to pay for it.

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Speaker 2: I did. Yeah, So it's a whole different game. And

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Speaker 2: it's not they and them, it's you, you know, And

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Speaker 2: a lot of things you have to be able to

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Speaker 2: do yourself that you can hire somebody else to do them.

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Speaker 2: It's a big plunge. You don't know whether you're gonna

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Speaker 2: make any money or not after you pay all the bill. Yeah,

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Speaker 2: and sometimes you do it, sometimes you don't, and you

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Speaker 2: have to live with that. Give me an idea of

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Speaker 2: what kind of anks you go through before you make

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Speaker 2: a leap like that, or did you not go through

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Speaker 2: any anks?

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Speaker 1: Oh? No, I went through a lot of anks, a

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Speaker 1: lot of anks. And actually the reason I was telling

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Speaker 1: that story is because AI has made everything shift, all right,

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Speaker 1: So the online course now nobody needs online courses anymore,

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Speaker 1: so that whole business dried up that and so now

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Speaker 1: I'm having to pivot. So even today I'm going through

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Speaker 1: the same kind of pivots that I did back then.

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Speaker 1: But you're right, So when I was first decided to

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Speaker 1: become an entrepreneur, I actually have been doing that a

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Speaker 1: lot because in elementary school, I had a what do

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Speaker 1: we call it a concession staying so I was an

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Speaker 1: entrepreneur then and then and you are right. In college,

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Speaker 1: i sold mary kay. Yeah, so I sold makeup. So

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Speaker 1: I've entrepreneur all my life. But when I was at

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Speaker 1: the school, and so I think this is the bigger,

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Speaker 1: big leap for me. When I was at the school,

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Speaker 1: I was crying in the bathroom every day and leaving,

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Speaker 1: to your point, leaving a secure job that everybody says

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Speaker 1: they want to do. Everybody says, oh, man, you're a principal.

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Speaker 1: That's a great job. You're gonna do that forever, right,

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Speaker 1: But I'm dying every day I'm going to school and

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Speaker 1: the different bosses are telling me I'm not good enough.

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Speaker 1: So now my self esteem is going down. I'm gaining

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Speaker 1: weight because I'm feeling like the only thing that's good

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Speaker 1: is what I'm eating. And then every time I present

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Speaker 1: something it's not good enough. I'm getting slapped by this boss,

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Speaker 1: but not physically, but you know, there's not good enough

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Speaker 1: over here and yelled at. And then this boss is

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Speaker 1: telling me, well, actually this is what I wanted. So

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Speaker 1: there's never any kind of any agreement. So now I'm

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Speaker 1: going home working all the time, not getting any rest.

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Speaker 1: But at the same time. I don't want to leave

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Speaker 1: because I have a paycheck and it's safe, and what

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Speaker 1: do I do, Like what kind of benefits will I have?

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Speaker 1: How will I have insurance if I leave this job?

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Speaker 1: So yes, it was definitely tough to decide to even leave.

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Speaker 2: It's a big leap Chapter number four breaking point to

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Speaker 2: go from all those mixed opinions and mixed attitudes. Those

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Speaker 2: words hurt and they linger and add to the insecurity

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Speaker 2: of can you really do this? What was the straw

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Speaker 2: that broke the camel's back?

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Speaker 1: My friend passed away? My friend John passed away. And

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Speaker 1: in Chicago we had been like Ace Koomboom's, like we

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Speaker 1: were ride or die, and he had just had a

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Speaker 1: kid and he had just gotten married. And then I

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Speaker 1: got a call, Oh, John passed away, And I couldn't

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Speaker 1: believe it, because what we were at the time, we

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Speaker 1: were thirty one, Like life is just starting. What are

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Speaker 1: you talking about? I thought they were pranking me, honestly,

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Speaker 1: And I was actually on my way driving to school

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Speaker 1: when I got the call. And at the same time,

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Speaker 1: I just told you about the headache I was going

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Speaker 1: through at school, so I couldn't even really process. I

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Speaker 1: gotta put the phone down running to try to get

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Speaker 1: to a meeting so I don't get yelled at. And

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Speaker 1: at the same time, I just found out my best

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Speaker 1: friend died, and so then I go go to tell

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Speaker 1: my boss, like, hey, my best friend passed away. I

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Speaker 1: need to go to the funeral. They told me if

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Speaker 1: I go to the funeral and take time off, I

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Speaker 1: would get I would get an improvement plan, and they

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Speaker 1: would fire me. That was when I said, oh no,

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Speaker 1: there's got to be more to life than this. We

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Speaker 1: can't have our whole life dictated by a job or

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Speaker 1: a paycheck. There's got to be something more. And then

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Speaker 1: for me it was okay. I was learning how to

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Speaker 1: invest a little bit, so I was learning how to

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Speaker 1: get some money together. And then I also love to travel.

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Speaker 1: I said, if I were to die to day, because

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Speaker 1: I'm thinking about my friend, if I were to die

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Speaker 1: to day, what would I regret not doing? And I

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Speaker 1: remember asking you that question, like why would I regret

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Speaker 1: I was seeing the rest of the world. Yeah, And

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Speaker 1: then I was trying to figure out how will I

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Speaker 1: afford it? And then I said, okay, well let.

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Speaker 2: Me try to you turn your hobby into a job.

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Speaker 1: Which also is not always the funnest.

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Speaker 2: Yeah yeah, yeah, yeah, yeah.

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Speaker 1: I will say it's also not always the best, but yes.

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Speaker 2: Yeah yeah. So there you are out there on your own,

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Speaker 2: feeling alone and having to build from the ground up.

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Speaker 2: Tell me about that.

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Speaker 1: So in October of the year plus youre in October

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Speaker 1: of the school year. That's when my friend passed away,

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Speaker 1: and you know, that's the beginning of the school year.

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Speaker 1: So now I'm trying to decide, Okay, do I leave

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Speaker 1: right away or do I stay? So I remember writing

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Speaker 1: in my journal, Okay, Lord, and I'm praying at this time, Lord,

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Speaker 1: if I could do anything, I want to trade stocks

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Speaker 1: and travel the world. But I didn't leave right away.

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Speaker 1: I was too afraid. Like I remember going back and

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Speaker 1: forth and trying to decide, like could I could I

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Speaker 1: make it happen? And then I decided actually to stay.

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Speaker 1: I wasn't going to travel. I was going to still trade,

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Speaker 1: but I would get an apartment downtown Dallas. I would

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Speaker 1: get an apartment twenty fifth floor. And I'm told God, no,

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Speaker 1: that's all right, I'm not gonna do it. Do you

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Speaker 1: know my apartment flooded and because my complaints to the

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Speaker 1: Lord were Lord, you know, I don't have enough money

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Speaker 1: and I can't get out of my lease. I'm giving

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Speaker 1: all the excuses. Twenty fifth floor completely flooded. The fifth

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Speaker 1: floor twenty fifth floor, that doesn't supposed to flood.

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Speaker 2: That's a nimrod kind of stuff that was there.

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Speaker 1: It's come to find out, somebody on the twenty seventh floor,

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Speaker 1: I guess, was doing some kind of growing weed or something.

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Speaker 1: I don't know. They brusted up pipe and then the

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Speaker 1: water fell into my unit, but took destroyed everything, took

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Speaker 1: every thing away. I literally had two suitcases left to

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Speaker 1: my name after that. And then it was like, Okay,

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Speaker 1: you're gonna do it. You're gonna go travel. And I

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Speaker 1: had heard of a company called we Wrong and at

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Speaker 1: the time, they had one seat left and they were

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Speaker 1: going and they were traveling to different cities at a time,

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Speaker 1: and they would go to like it was twenty of us.

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Speaker 1: So our first place was Korea and then our next

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Speaker 1: place was Vietnam. But so I wasn't alone, but I

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Speaker 1: definitely felt like I gotta go, and I gotta go

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Speaker 1: now because if I'm not obedient, God's gonna flood every

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Speaker 1: place I go to.

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Speaker 2: Well, you know what's funny, about being alone. You just

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Speaker 2: because you're around people doesn't mean you're not not alone. Yeah,

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Speaker 2: you know, nobody said in the seat that you set

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Speaker 2: in having the obstacles in front of them that they had,

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Speaker 2: and it took a great deal of courage. I used

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Speaker 2: to think that courage is an absence of fear, but

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Speaker 2: actually courage flourishes in the midst of fear. It's not

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Speaker 2: that courageous people don't feel the fear. They feel the

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Speaker 2: fear and do it anyway. Yeah, and that's what makes

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Speaker 2: them courageous. Okay, if they felt no fear, they'd be robotical.

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Speaker 2: But you got out there and you took the dive.

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Speaker 2: Not everybody gets the courage to take the dive. A

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Speaker 2: lot of people go home and get some food stamps

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Speaker 2: and you know, get a check and make the best

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Speaker 2: of it, moving to the projects and going about their business.

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Speaker 2: There was something in you that would not be denied,

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Speaker 2: that believed for something greater. And I bet you if

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Speaker 2: you trace back all through your life, that drive, that

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Speaker 2: persistence that I'm gonna make it has always been there.

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Speaker 2: Is it still there now?

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Speaker 1: I'm trying to start a movement, and it's it doesn't

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Speaker 1: it's yes, it's still here. It's right now though it's Lord,

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Speaker 1: if you give me the courage, I'll go. Like I've

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Speaker 1: been reading a lot about Exodus and trying to find

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Speaker 1: the risk takers in the Bible to give me understanding

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Speaker 1: of like how to be a risk taker, and I'm

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Speaker 1: having to rely heavily on just the stories of others

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Speaker 1: to still push through. Like what I mean is, and

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Speaker 1: I know you're asking me a direct question I'm trying

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Speaker 1: to answer, But what I mean is, like I've been

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Speaker 1: thinking about the midwives, like in Exodus. So it's like

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Speaker 1: not even Moses, but the midwives who the king told

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Speaker 1: them to kill all the boys and then they said

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Speaker 1: they didn't do it because they feared God. And so

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Speaker 1: I think I'm in one of those places, like I

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Speaker 1: fear God. So I'm gonna do what I'm supposed to

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Speaker 1: do and I'm going to push and build. And that

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Speaker 1: drive has been with me throughout my life.

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Speaker 2: Wow, Chapter number five Hard Financial Lessons. Every major move

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Speaker 2: in this country and in any other country has only

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Speaker 2: come in the face of peril and danger and somebody

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Speaker 2: who was courageous enough to stand up when other people

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Speaker 2: sat down. And I think that's a real admirable quality

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Speaker 2: to have to be able to muster the courage. Yeah,

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Speaker 2: to must Sometimes you got to muster it. You got

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Speaker 2: to find it in order to really go out there

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Speaker 2: and do what you're going to do. Tell me about

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Speaker 2: the things that went wrong, because I think we always

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Speaker 2: talk about the things that went right. Yeah, and it

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Speaker 2: gives people this magical feeling that everything always goes right.

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Speaker 2: It didn't go right all the time.

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Speaker 1: Yeah.

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Speaker 2: Tell me about the mistakes you made when you first

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Speaker 2: got out there and what you learned from them.

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Speaker 1: So let's say when I first started trading and I

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Speaker 1: first left, first thing that I learned was you could

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Speaker 1: lose all your money. Like that was the first thing

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Speaker 1: I was So I was afraid. And I actually had

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Speaker 1: gotten money off of credit cards, and I thought, well,

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Speaker 1: if I going to start this, I need to have

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Speaker 1: a lot of money in my pocket. So I actually

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Speaker 1: did balance transfers from credit cards. First mistake. I ended

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Speaker 1: up losing all of that, losing all of that, and

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Speaker 1: then had to try to figure out how to rebuild it.

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Speaker 1: I think more recently, mistakes have been trusting people. It's

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Speaker 1: been hard, Like sometimes you hire on staff and you

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Speaker 1: think I know right, you think they have your back

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Speaker 1: and you think they have the best intention, and then

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Speaker 1: you find out that actually shouldn't have done that. Like

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Speaker 1: another mistake that's been going on lately for myself is

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Speaker 1: like thinking that it has to be bigger than it is.

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Speaker 1: I feel like sometimes you can make small moves and

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Speaker 1: they're just as impactful as making something big. So, for example,

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Speaker 1: even when I was back in the school, I remember

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Speaker 1: there was a project that was going on and I

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Speaker 1: thought it had to be big and grand. I think

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Speaker 1: we wanted to entertain the parents, and I thought, well,

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Speaker 1: the only way to do this is I gotta make

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Speaker 1: a big spectacle. I gotta bring in, you know, bouncy

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Speaker 1: houses and do all the things. What the principle really

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Speaker 1: wanted was a piece of paper with a checklist. It said,

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Speaker 1: are you happy? Yes or no? But sometimes biggest mistakes

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Speaker 1: is that we we do too much. We try too hard.

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Speaker 1: So I've learned a lot of a lot of mistakes.

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Speaker 2: We try to grow up too fast, we work before

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Speaker 2: we crawl. Yeah. Uh, but y uh, I've read our

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Speaker 2: producers said, you went from making a million dollars a

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Speaker 2: year to a million dollars a month to a million

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Speaker 2: dollars a day. That when you start talking about money,

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Speaker 2: you're talking about money, yes, real money. Okay, most people

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Speaker 2: when they're talking about money, they're talking about small amounts

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Speaker 2: of money ten thousand dollars, five thousand dollars, one thousand

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Speaker 2: dollars or one hundred dollars or something like that. What

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Speaker 2: gave you those lofty ideas to go after a million

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Speaker 2: dollars a year, a month, million dollars a day.

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Speaker 1: I've always known I was going to be a millionaire

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Speaker 1: back in the day. I thought it would be through

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Speaker 1: real estate because I loved real estate and part of

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Speaker 1: my side hustles. I told you, I've been an entrepreneur forever.

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Speaker 1: I actually have a broker managing broker's license in Texas

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Speaker 1: for real estate. So I thought, okay, I'll have relatives

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Speaker 1: come underneath me, and then we'll be able to build

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Speaker 1: a whole empire. So I've been thinking that I'll be

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Speaker 1: a millionaire, and I think that's just a God gift.

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Speaker 1: Money comes easily to me as long as I'm obedient

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Speaker 1: to the life. That's kind of my mantra. So I've

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Speaker 1: always donted to be a millionaire. Then with finances, though,

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Speaker 1: I'm a problem solver. We talked about that Nigerian part

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Speaker 1: of me, like, if I'm gonna do it, I'm gonna

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Speaker 1: do it. So first it was Okay, can I make

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Speaker 1: one hundred dollars a day? Then when that started becoming

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Speaker 1: easy and I had done that for a while, then

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Speaker 1: it was can I make a thousand dollars a day?

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Speaker 1: And then well, there needs to be a next goal,

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Speaker 1: so I just keep bumping up the goal. Okay, thousand dollars,

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Speaker 1: we've been doing that a little while, how about one

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Speaker 1: hundred thousand. I desire to always have a bigger goal

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Speaker 1: in mind. So after the one hundred thousand, it was, oh,

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Speaker 1: did that a few times, Let's see if we can

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Speaker 1: make a million dollars in a day.

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Speaker 2: Have you ever had a goal that scared you? Yes?

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Speaker 1: Right now, I want to start a movement to help

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Speaker 1: burnt out overachievers. And it scares me because I can't

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Speaker 1: do it by myself. Every other goal I could probably

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Speaker 1: do myself, but this is one where I'm going to

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Speaker 1: need a team. I'm going to need other people around me.

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Speaker 1: That scares me even now because I can't. Like I said,

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Speaker 1: I can't do it by myself. But I know that

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Speaker 1: God is with me. But also sometimes God works through

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Speaker 1: people and people can be tough. Yes, it can't, so

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Speaker 1: that scares me.

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Speaker 2: Yeah, yeah, But you can't get there without other people.

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Speaker 2: You can't, Yeah, And you have to just weave through

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Speaker 2: them till you find somebody that you can really trust

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Speaker 2: and that you can really count on. Chapter number six,

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Speaker 2: Hot stocks and AI investments. When you start talking about

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Speaker 2: stocks in this climate, Okay, what are hot stocks right now?

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Speaker 1: The AI stocks are big. Ok So last year I

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Speaker 1: invested in portfolio of AI stocks. I invested in about

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Speaker 1: twenty of them, some of the top ones. You want

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Speaker 1: me to tell you what the top ones are, Okay,

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Speaker 1: I'm tell your top five.

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Speaker 2: Okay.

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Speaker 1: So we had app Lovin, which is in the AI world,

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Speaker 1: you have the processors so like behind the scenes, then

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Speaker 1: you have the data centers, and then you have the application.

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Speaker 1: So app Lovin is more on the like behind the

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Speaker 1: scenes AI companies. Then of course we had the like

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Speaker 1: the Palenteers, but it was actually number five on my list.

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Speaker 1: Pallenteer is the application side. So it's like, how do

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Speaker 1: you have security with AI and impact it? Another one

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Speaker 1: like I'm trying to remember off the top of my head,

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Speaker 1: all of them. Of course, we had Nvideo in there

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Speaker 1: and we had Microsoft in there, so those are like,

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Speaker 1: I have one more in there, and I don't want

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Speaker 1: to say the wrong one, but the top five, it

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Speaker 1: was the four of the five. Yeah, but the big

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Speaker 1: thing is the data side, and then you have the

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Speaker 1: application side.

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Speaker 2: Now we're not giving you financial advice. She's just testifying

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Speaker 2: what worked for her. You need to talk to your

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Speaker 2: own advisor to make sure that you find yourself in

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Speaker 2: the right situation when you when you look for this

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Speaker 2: is what bothers me. The entire global economic system is

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Speaker 2: going through a reboot, okay, and so when you look

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Speaker 2: at that reboot going on, now, you've got bricks coming out,

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Speaker 2: You've got the declining of the valuation of the dollar.

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Speaker 2: A lot of our people don't even know that because

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Speaker 2: they're just singing and going to the movies and clapping

433
00:24:39,920 --> 00:24:43,040
Speaker 2: and jumping and dropping it like it's hot, and they

434
00:24:43,040 --> 00:24:47,000
Speaker 2: don't they don't they don't stop to see that what

435
00:24:47,119 --> 00:24:52,800
Speaker 2: you might be building for retirement may have shrunk, not

436
00:24:52,960 --> 00:24:55,800
Speaker 2: just in dollar size, but the dollar doesn't have the

437
00:24:55,920 --> 00:24:59,080
Speaker 2: value that it did and it can go way dow

438
00:25:00,000 --> 00:25:03,960
Speaker 2: depending on a lot of things. Do you have any

439
00:25:04,000 --> 00:25:04,960
Speaker 2: concerns about that.

440
00:25:06,520 --> 00:25:09,399
Speaker 1: There's two sides of the coin. Okay, when the dollar

441
00:25:09,480 --> 00:25:12,840
Speaker 1: goes down, some companies are going to benefit because they'll

442
00:25:12,840 --> 00:25:16,359
Speaker 1: think that there's more other economies that will want to

443
00:25:16,359 --> 00:25:19,920
Speaker 1: buy because their product is cheaper. Now it costs them

444
00:25:20,000 --> 00:25:22,879
Speaker 1: less to buy the product. So say, for example that

445
00:25:23,040 --> 00:25:29,440
Speaker 1: you are let's just say you're a homemade Let's say

446
00:25:29,440 --> 00:25:35,159
Speaker 1: you make a homemade product. Tell me something homemade cupcakes. Cupcakes. Well,

447
00:25:35,560 --> 00:25:37,800
Speaker 1: something that's hard and can be shipped out has to be.

448
00:25:39,320 --> 00:25:40,400
Speaker 2: Plastic flowers.

449
00:25:40,680 --> 00:25:43,960
Speaker 1: Okay, So you make plastic flowers, and they used to

450
00:25:44,000 --> 00:25:47,520
Speaker 1: cost twenty dollars, and so everybody from Europe wants to

451
00:25:47,520 --> 00:25:50,160
Speaker 1: buy a plastic flower, it's going to cost them twenty

452
00:25:50,520 --> 00:25:52,400
Speaker 1: But then they have to do a conversion rate from

453
00:25:52,440 --> 00:25:56,800
Speaker 1: euro to dollar. Now, all of a sudden, your plastic

454
00:25:56,840 --> 00:25:59,679
Speaker 1: flower is still twenty dollars, but the value of that

455
00:25:59,720 --> 00:26:02,520
Speaker 1: dollar is less. They can buy two or three flowers

456
00:26:02,520 --> 00:26:05,320
Speaker 1: now instead of just one. So for some people they

457
00:26:05,359 --> 00:26:08,720
Speaker 1: feel like a lower dollar is okay because now more

458
00:26:08,760 --> 00:26:11,800
Speaker 1: outside money will come in to buy their product. But

459
00:26:11,920 --> 00:26:15,280
Speaker 1: on our side, us trying to buy outward is going

460
00:26:15,320 --> 00:26:17,199
Speaker 1: to hurt so now if we want to buy a

461
00:26:17,240 --> 00:26:19,719
Speaker 1: car from overseas, or if we want to get something

462
00:26:19,800 --> 00:26:22,440
Speaker 1: from China like a TV, it's going to cost us

463
00:26:22,520 --> 00:26:26,320
Speaker 1: more because our dollar doesn't go as far. Yes, so

464
00:26:26,400 --> 00:26:29,640
Speaker 1: it's hurting us and our consumer, but it's not hurting

465
00:26:29,960 --> 00:26:34,000
Speaker 1: the people who are manufacturing things. So sometimes right now

466
00:26:34,040 --> 00:26:36,680
Speaker 1: you'll hear the government say, oh, the dollar going down

467
00:26:36,760 --> 00:26:40,199
Speaker 1: doesn't matter. They're trying to think about the businesses that

468
00:26:40,280 --> 00:26:42,960
Speaker 1: are actually going to do better because now more outside

469
00:26:42,960 --> 00:26:46,520
Speaker 1: money can come in. But us as a people, we're

470
00:26:46,560 --> 00:26:48,520
Speaker 1: going to feel the burn because our money doesn't go

471
00:26:48,560 --> 00:26:48,920
Speaker 1: as far.

472
00:26:49,119 --> 00:26:52,480
Speaker 2: It doesn't go as far. So it's it's more danger

473
00:26:52,520 --> 00:26:55,000
Speaker 2: for the little man than it is for the big corporation.

474
00:26:55,320 --> 00:26:59,840
Speaker 1: Yes, it's more danger danger for then like the person

475
00:26:59,880 --> 00:27:03,240
Speaker 1: that spending then for the actual person that's bringing in months.

476
00:27:04,040 --> 00:27:07,040
Speaker 2: When you think about that, when you think about where

477
00:27:07,040 --> 00:27:10,840
Speaker 2: we are right now in the volatility of the country,

478
00:27:10,960 --> 00:27:14,000
Speaker 2: and if bricks takes off the way they're trying to

479
00:27:14,040 --> 00:27:16,440
Speaker 2: get it to take off, they're going to be shipping

480
00:27:16,480 --> 00:27:20,400
Speaker 2: a lot of dollars back to US, okay, and if

481
00:27:20,400 --> 00:27:24,159
Speaker 2: the dollars come back to the federal stockage change, they

482
00:27:24,280 --> 00:27:29,280
Speaker 2: come back to FTC rather, then the value is going

483
00:27:29,359 --> 00:27:33,199
Speaker 2: to diminish again. Do you think about that or do

484
00:27:33,240 --> 00:27:35,600
Speaker 2: you think it's going to go that way? I was

485
00:27:35,680 --> 00:27:41,280
Speaker 2: reading that bricks would not negate the expenditures of dollars,

486
00:27:41,320 --> 00:27:43,879
Speaker 2: that they wouldn't send them all back. What do you think.

487
00:27:44,520 --> 00:27:48,160
Speaker 1: I'm thinking that there's right now several countries that don't

488
00:27:48,200 --> 00:27:50,439
Speaker 1: want to have that don't want to spend money with

489
00:27:50,520 --> 00:27:53,840
Speaker 1: the US. I'm actually more worried with people not investing

490
00:27:53,880 --> 00:27:57,520
Speaker 1: in our stock market. And when I say people governments,

491
00:27:57,560 --> 00:28:00,200
Speaker 1: like if many of the governments decided, actually, we're we're

492
00:28:00,200 --> 00:28:02,520
Speaker 1: taking dollars outside of the US because we don't agree

493
00:28:02,560 --> 00:28:05,200
Speaker 1: with you all's policies, that's going to hurt us more.

494
00:28:05,640 --> 00:28:08,399
Speaker 1: If they pull all their money out, they are supporting

495
00:28:08,480 --> 00:28:12,560
Speaker 1: our economy and they're supporting our stock market, that's going

496
00:28:12,640 --> 00:28:15,399
Speaker 1: to hurt us more. I think. So that's more what

497
00:28:15,400 --> 00:28:15,840
Speaker 1: I'm worried.

498
00:28:15,880 --> 00:28:18,119
Speaker 2: Now. What do you think about the terrorists and the

499
00:28:18,240 --> 00:28:21,560
Speaker 2: impact of the terriffs in the middle of inflation right now?

500
00:28:22,520 --> 00:28:24,399
Speaker 1: Well, the fedis said that they're going to hold the

501
00:28:24,440 --> 00:28:27,240
Speaker 1: inflation rate, but we're hoping that they'll cut it a

502
00:28:27,280 --> 00:28:29,800
Speaker 1: little later this year. I think it's really going to

503
00:28:29,880 --> 00:28:34,080
Speaker 1: depend if the FED stays independent from the government. If

504
00:28:34,080 --> 00:28:36,440
Speaker 1: the FED stays independent, then they're going to make sure

505
00:28:36,480 --> 00:28:38,920
Speaker 1: that our economy is still okay. They'll make sure we

506
00:28:38,960 --> 00:28:41,600
Speaker 1: don't go into inflation, although right now we're quick creeping

507
00:28:41,640 --> 00:28:45,080
Speaker 1: a little higher. They'll make sure that, Like so when

508
00:28:45,160 --> 00:28:47,880
Speaker 1: they decide that they're going to lower interest rates, is

509
00:28:47,880 --> 00:28:51,520
Speaker 1: going to impact inflation. And now, honestly, I don't think

510
00:28:51,520 --> 00:28:53,880
Speaker 1: they need to lower inflate like lower interest rates. If

511
00:28:53,880 --> 00:28:55,440
Speaker 1: we can keep it the way it is, that will

512
00:28:55,440 --> 00:28:59,560
Speaker 1: actually help us not have higher inflation. But honestly, the

513
00:28:59,600 --> 00:29:02,600
Speaker 1: FED is in control of that. If we don't, if

514
00:29:02,600 --> 00:29:04,840
Speaker 1: we allow the FRED to stay independent, will be okay.

515
00:29:05,600 --> 00:29:07,960
Speaker 2: I think part of the problem is cold too. There

516
00:29:08,040 --> 00:29:12,320
Speaker 2: is the people aren't getting cost of living raises. They're

517
00:29:12,360 --> 00:29:15,520
Speaker 2: not getting cost of living increases, so the golf is

518
00:29:15,520 --> 00:29:18,520
Speaker 2: getting wider and wider between the haves and the have nots.

519
00:29:18,800 --> 00:29:22,920
Speaker 2: Even amongst companies who are bringing in billions of dollars

520
00:29:23,000 --> 00:29:27,080
Speaker 2: a year, it doesn't trickle down to the employees. It

521
00:29:27,240 --> 00:29:30,520
Speaker 2: may trickle down to the stockholders, but it doesn't trickle

522
00:29:30,640 --> 00:29:33,880
Speaker 2: down to the employees. And I don't understand why people

523
00:29:33,880 --> 00:29:36,800
Speaker 2: don't realize if people are going to buy your products,

524
00:29:36,800 --> 00:29:38,720
Speaker 2: they're going to need income in order to be able

525
00:29:38,720 --> 00:29:42,080
Speaker 2: to do it. The currency has to flow in a

526
00:29:42,560 --> 00:29:45,680
Speaker 2: circular motion in order for there to be enough for

527
00:29:45,800 --> 00:29:48,320
Speaker 2: everybody to be able to eat. And as long as

528
00:29:48,360 --> 00:29:51,680
Speaker 2: we do that and don't get selfish and don't get greedy,

529
00:29:52,160 --> 00:29:56,360
Speaker 2: we can make it happen. As it relates to the tariffs,

530
00:29:56,960 --> 00:29:59,320
Speaker 2: I think we end up paying the tariffs.

531
00:29:59,120 --> 00:30:03,360
Speaker 1: Oh definitely that that part, Like the companies are going

532
00:30:03,400 --> 00:30:05,440
Speaker 1: to have higher cost and they're just going to pass

533
00:30:05,480 --> 00:30:08,880
Speaker 1: those costs down into their products for sure. Or tariffs

534
00:30:08,960 --> 00:30:11,920
Speaker 1: hurt us, Yeah, they really don't hurt the other people.

535
00:30:11,920 --> 00:30:18,160
Speaker 2: Right Chapter number seven, Stay invested. So when you think

536
00:30:18,200 --> 00:30:22,280
Speaker 2: about that kind of thing, and you've got people that

537
00:30:22,360 --> 00:30:25,600
Speaker 2: you're advising what to do with the money that they have,

538
00:30:25,720 --> 00:30:28,160
Speaker 2: and say they're my age and that money really counts

539
00:30:28,160 --> 00:30:30,040
Speaker 2: because they're getting to the point they're going to need

540
00:30:30,080 --> 00:30:33,120
Speaker 2: that money, what's the kind of advice you give them

541
00:30:33,160 --> 00:30:34,400
Speaker 2: for the risk tolerance?

542
00:30:35,000 --> 00:30:36,680
Speaker 1: Well, this is why it's so important to still be

543
00:30:36,720 --> 00:30:40,000
Speaker 1: invested because right now the stock market just hit all

544
00:30:40,080 --> 00:30:42,719
Speaker 1: time highs, like the S and P five hundred just

545
00:30:42,800 --> 00:30:44,880
Speaker 1: passed seven thousand for the first time ever.

546
00:30:45,120 --> 00:30:46,200
Speaker 2: Excuse me, let me show.

547
00:30:47,320 --> 00:30:50,560
Speaker 1: Yeah, so you're if your portfolio is invested, then you're

548
00:30:50,600 --> 00:30:53,880
Speaker 1: doing well. But this is the problem to your point

549
00:30:53,960 --> 00:30:56,880
Speaker 1: about the wealth gap. A lot of people aren't invested.

550
00:30:57,080 --> 00:31:00,760
Speaker 1: So that's going to be their their lifeline. If they

551
00:31:00,800 --> 00:31:04,360
Speaker 1: did lose their job, if they did find that people

552
00:31:04,360 --> 00:31:06,840
Speaker 1: aren't buying as much from their companies, they're going to

553
00:31:06,880 --> 00:31:09,480
Speaker 1: need a second income. That income is going to come

554
00:31:09,480 --> 00:31:11,800
Speaker 1: from the stock market. It's going to be part of

555
00:31:11,840 --> 00:31:15,240
Speaker 1: the gains that they're getting every year can flow into

556
00:31:15,320 --> 00:31:19,320
Speaker 1: their household. So the biggest thing is stay invested, even

557
00:31:19,360 --> 00:31:22,160
Speaker 1: though you're a little scared right now because all the

558
00:31:22,160 --> 00:31:25,840
Speaker 1: things in the economy right now, the stock market itself

559
00:31:26,160 --> 00:31:29,080
Speaker 1: is still going up, and then I think it's okay

560
00:31:29,120 --> 00:31:32,000
Speaker 1: to use some of those gains to fund your lifestyle.

561
00:31:33,000 --> 00:31:37,840
Speaker 2: You know. It's a very very interesting thing because as

562
00:31:39,040 --> 00:31:42,000
Speaker 2: we've got the still got the strongest GDP in the world,

563
00:31:43,240 --> 00:31:47,320
Speaker 2: Africa's got the fastest growing GDP in the world. I

564
00:31:47,320 --> 00:31:50,360
Speaker 2: think we need to pay attention to Africa and take

565
00:31:50,400 --> 00:31:53,440
Speaker 2: a look at what they're doing and how they're growing

566
00:31:53,480 --> 00:31:56,280
Speaker 2: that country and not be the last one to the

567
00:31:56,320 --> 00:31:59,320
Speaker 2: party because all other countries are coming in.

568
00:31:59,560 --> 00:32:02,720
Speaker 1: Kind of is taken over over Oh they're like, oh,

569
00:32:02,760 --> 00:32:03,560
Speaker 1: we're coming.

570
00:32:03,320 --> 00:32:05,600
Speaker 2: There practicing my Mandarin.

571
00:32:06,920 --> 00:32:10,520
Speaker 1: Or our African countries, have you like instead of English,

572
00:32:10,560 --> 00:32:11,960
Speaker 1: they're now teaching in.

573
00:32:11,880 --> 00:32:15,960
Speaker 2: School, yes, yes, yes. And because they're building highways, they're

574
00:32:15,960 --> 00:32:19,200
Speaker 2: building hotels, are doing all that sort of thing, and

575
00:32:19,240 --> 00:32:22,560
Speaker 2: we up until now just woke up and realized that

576
00:32:22,680 --> 00:32:26,560
Speaker 2: Africa was the richest continent in the earth for minerals,

577
00:32:26,640 --> 00:32:30,120
Speaker 2: for gold, for ivory, for silver, for all of that

578
00:32:30,160 --> 00:32:32,960
Speaker 2: sort of thing. They are a producing company. We are

579
00:32:33,000 --> 00:32:37,000
Speaker 2: a consuming country. We are a consuming country to the

580
00:32:37,040 --> 00:32:40,080
Speaker 2: point that we we couldn't even make respirators when we

581
00:32:40,160 --> 00:32:42,800
Speaker 2: had Kobe. We had to go outside of the country

582
00:32:43,240 --> 00:32:49,520
Speaker 2: to really start producing. Yeah, we don't manufacture like we

583
00:32:49,640 --> 00:32:54,760
Speaker 2: used to. Kenya is manufacturing a lot of the equipment,

584
00:32:54,800 --> 00:32:57,240
Speaker 2: the lithium and the different things that are going into

585
00:32:57,320 --> 00:33:03,520
Speaker 2: our testing exactly exactly, exactly exactly. So it's a funny

586
00:33:03,520 --> 00:33:04,880
Speaker 2: time to be alive right now.

587
00:33:05,280 --> 00:33:07,880
Speaker 1: It is, Yeah, but it's also kind of exciting because

588
00:33:07,960 --> 00:33:10,520
Speaker 1: I'm a little afraid of all the things that AI

589
00:33:10,600 --> 00:33:13,160
Speaker 1: can do, but I'm also excited to see how big

590
00:33:13,200 --> 00:33:16,480
Speaker 1: it can get. Right, So it's scary but also interesting.

591
00:33:16,720 --> 00:33:20,600
Speaker 2: You know, my only concern about AI is not what

592
00:33:20,720 --> 00:33:22,600
Speaker 2: it can do. I love what it can do. It's

593
00:33:22,640 --> 00:33:26,400
Speaker 2: amazing what it can do. But I'm afraid that it

594
00:33:26,480 --> 00:33:30,160
Speaker 2: can talk to each other without our interference. That makes

595
00:33:30,200 --> 00:33:34,720
Speaker 2: me nervous. Yes, that maybe I've watched too many chiller

596
00:33:34,800 --> 00:33:38,320
Speaker 2: movies when I was a little kid. But I don't

597
00:33:38,320 --> 00:33:41,320
Speaker 2: want to make anything that I can't control. And there

598
00:33:41,320 --> 00:33:45,080
Speaker 2: are no guardrails, there are no laws. There are we

599
00:33:45,160 --> 00:33:48,000
Speaker 2: haven't caught up with what we have created. Does that

600
00:33:48,160 --> 00:33:48,720
Speaker 2: bother you?

601
00:33:49,040 --> 00:33:51,640
Speaker 1: What does? And the fact that the AI robots they

602
00:33:51,680 --> 00:33:54,440
Speaker 1: all learn at the same time, so there's not a delay.

603
00:33:54,920 --> 00:33:58,520
Speaker 1: If one robot learns it, it actually it actually goes

604
00:33:58,520 --> 00:34:01,040
Speaker 1: through the programming, so now all of the robots know

605
00:34:01,080 --> 00:34:03,760
Speaker 1: it at the same time. I think that's what scares

606
00:34:03,800 --> 00:34:07,120
Speaker 1: me a bit, because we as humans, we take some

607
00:34:07,200 --> 00:34:09,799
Speaker 1: time to develop, we take some time to learn. But

608
00:34:09,880 --> 00:34:12,799
Speaker 1: if you have a whole army of robots and they

609
00:34:12,880 --> 00:34:17,400
Speaker 1: all get an instruction at one time, now there's no

610
00:34:17,480 --> 00:34:20,640
Speaker 1: way to win. So that starts with the.

611
00:34:20,640 --> 00:34:26,400
Speaker 2: Knowledge that you have gathered about the stock market, about investments,

612
00:34:26,480 --> 00:34:30,799
Speaker 2: about AI and all of the things surrounding it. Would

613
00:34:30,880 --> 00:34:40,120
Speaker 2: you ever consider going to work for somebody.

614
00:34:37,920 --> 00:34:40,000
Speaker 1: For the fun of it. I'm now at a point

615
00:34:40,040 --> 00:34:44,840
Speaker 1: where I do everything for fun because the stock market

616
00:34:44,920 --> 00:34:48,759
Speaker 1: and my investments fund my lifestyle. So now it'd be

617
00:34:48,960 --> 00:34:52,640
Speaker 1: if the company was doing something super fun, then I

618
00:34:52,640 --> 00:34:55,120
Speaker 1: would want to be a part of that, right, But

619
00:34:55,239 --> 00:34:57,239
Speaker 1: if it's just old terry, we just want to work

620
00:34:57,239 --> 00:35:01,440
Speaker 1: it to the bone. I did that, yeah, but they

621
00:35:01,440 --> 00:35:03,240
Speaker 1: had a fun project and I'll come along.

622
00:35:03,320 --> 00:35:05,640
Speaker 2: What do you think of cybercurrency and crypto?

623
00:35:06,560 --> 00:35:08,920
Speaker 1: I think it is the next wave. I think that

624
00:35:08,960 --> 00:35:11,360
Speaker 1: everyone should be starting to put their money into some

625
00:35:11,640 --> 00:35:16,520
Speaker 1: form of the ones I know are our bitcoin, I

626
00:35:16,600 --> 00:35:20,920
Speaker 1: know ethereum. There's probably more that are substantial, like the

627
00:35:21,000 --> 00:35:23,640
Speaker 1: stable coins. For a little while, I actually had a

628
00:35:23,800 --> 00:35:26,319
Speaker 1: good chunk of my money and stable coins because it

629
00:35:26,360 --> 00:35:29,960
Speaker 1: was given the highest interest rate return. I do believe

630
00:35:30,000 --> 00:35:32,000
Speaker 1: that with the dollar falling, there needs to be some

631
00:35:32,080 --> 00:35:35,080
Speaker 1: other currency that we can go to. And I've been

632
00:35:35,120 --> 00:35:37,920
Speaker 1: thinking through like, well, what other currency would I put

633
00:35:37,960 --> 00:35:40,000
Speaker 1: my money in? Would I put it in again from

634
00:35:40,080 --> 00:35:42,040
Speaker 1: Japanese or would I put it in the Euro? But

635
00:35:42,080 --> 00:35:43,720
Speaker 1: the Euro is very linked to the dollar.

636
00:35:43,800 --> 00:35:44,880
Speaker 2: What do you think your XRP.

637
00:35:46,200 --> 00:35:49,120
Speaker 1: I don't know enough. I've heard good things, but I

638
00:35:49,160 --> 00:35:52,600
Speaker 1: don't know enough to give any kind of thoughts or

639
00:35:52,640 --> 00:35:53,920
Speaker 1: opinion on it.

640
00:35:53,920 --> 00:36:00,400
Speaker 2: It kind of makes up the system. If the stock

641
00:36:00,520 --> 00:36:05,799
Speaker 2: is a train, XRP is the railroad, and so you're

642
00:36:05,840 --> 00:36:09,840
Speaker 2: investing into a system that's going to support everything we

643
00:36:09,920 --> 00:36:12,480
Speaker 2: set out to do, because, as you know, the stock

644
00:36:12,560 --> 00:36:14,640
Speaker 2: markets are global and we have to think in a

645
00:36:14,680 --> 00:36:17,120
Speaker 2: global way in order to do it. And it seems

646
00:36:17,160 --> 00:36:20,239
Speaker 2: like to me, and I'm no expert, let me say

647
00:36:20,239 --> 00:36:22,279
Speaker 2: that right off, because but it seems like to me,

648
00:36:22,400 --> 00:36:25,920
Speaker 2: the safest stocks to engage you in our stocks that

649
00:36:25,960 --> 00:36:32,279
Speaker 2: are tied to assets, commodities, goals, silver, things like that. Yes,

650
00:36:32,360 --> 00:36:35,720
Speaker 2: it's been and been doing really well a long time.

651
00:36:36,360 --> 00:36:38,399
Speaker 2: You know, when you look when you look at that

652
00:36:38,520 --> 00:36:43,120
Speaker 2: sort of thing, how do you map out you've mopped

653
00:36:43,160 --> 00:36:47,640
Speaker 2: out investments? How do you map out your career, your life?

654
00:36:47,640 --> 00:36:49,960
Speaker 2: How do you map out or do you just wake

655
00:36:50,080 --> 00:36:52,480
Speaker 2: up every morning and see what happens.

656
00:36:53,880 --> 00:36:55,839
Speaker 1: Right now? I can only tell you what I'm going

657
00:36:55,880 --> 00:37:00,359
Speaker 1: through right now because I'm not good at planning. Some

658
00:37:00,440 --> 00:37:02,759
Speaker 1: people are super good planners, like they know what they're

659
00:37:02,760 --> 00:37:05,799
Speaker 1: going to do five years, ten, years. I know that

660
00:37:05,840 --> 00:37:09,000
Speaker 1: I want to be happy by fifty, like that's nine

661
00:37:09,080 --> 00:37:11,400
Speaker 1: years from now, But I can't tell you exactly what

662
00:37:11,480 --> 00:37:14,239
Speaker 1: I'll like, what each year looks like. But what I

663
00:37:14,320 --> 00:37:17,560
Speaker 1: do know is I do want to start a movement

664
00:37:17,560 --> 00:37:19,719
Speaker 1: to help those people crying in the bathroom at work,

665
00:37:19,760 --> 00:37:23,120
Speaker 1: Like I'm still really passionate about them, and in my mind,

666
00:37:23,120 --> 00:37:25,920
Speaker 1: the solution has been investing, because that was my path.

667
00:37:26,280 --> 00:37:28,120
Speaker 1: But I also want to help them learn how to

668
00:37:28,160 --> 00:37:32,360
Speaker 1: take better risks because I feel like when I was trapped,

669
00:37:32,360 --> 00:37:36,360
Speaker 1: it was a mental game, like I was scared and

670
00:37:36,360 --> 00:37:39,319
Speaker 1: I wouldn't let myself do things. So I know that

671
00:37:39,360 --> 00:37:42,240
Speaker 1: for at least the next few years, I'll be working

672
00:37:42,280 --> 00:37:44,319
Speaker 1: on making sure that I'm helping those people that are

673
00:37:44,480 --> 00:37:45,200
Speaker 1: burnt out.

674
00:37:45,000 --> 00:37:51,400
Speaker 2: Over a cheap Chapter number eight burnout Mission. You know,

675
00:37:51,560 --> 00:37:54,640
Speaker 2: when you say you want to be happy. We live

676
00:37:54,760 --> 00:38:01,480
Speaker 2: in a capitalist society. We associate happiness with economy, but

677
00:38:01,680 --> 00:38:06,839
Speaker 2: other societies think that happiness is peace and joy and

678
00:38:06,920 --> 00:38:11,759
Speaker 2: contentment and good health and that sort of thing. Do

679
00:38:11,800 --> 00:38:16,440
Speaker 2: you recognize the many, many benefits that come from just

680
00:38:16,560 --> 00:38:17,320
Speaker 2: being alive?

681
00:38:18,040 --> 00:38:23,640
Speaker 1: Oh yes, oh yes, So a couple of years ago

682
00:38:23,760 --> 00:38:27,560
Speaker 1: I fainted and woke up on the floor of the

683
00:38:27,600 --> 00:38:32,000
Speaker 1: bathroom and I was going through some just female things

684
00:38:32,080 --> 00:38:35,040
Speaker 1: like fibroids and low iron and just it took all

685
00:38:35,040 --> 00:38:37,920
Speaker 1: my energy away. But I was in Puerto Rico in

686
00:38:37,920 --> 00:38:41,080
Speaker 1: the house by myself, and it was one of those

687
00:38:41,120 --> 00:38:44,000
Speaker 1: things where I remember waking up and I was thankful

688
00:38:44,040 --> 00:38:47,160
Speaker 1: that my phone, for whatever reason, my phone was nearby

689
00:38:47,280 --> 00:38:50,839
Speaker 1: on the floor and I could call my neighbor next door,

690
00:38:50,880 --> 00:38:52,480
Speaker 1: and I was thankful she even had a key to

691
00:38:52,520 --> 00:38:54,799
Speaker 1: my house, because if she didn't have a key, then

692
00:38:54,840 --> 00:38:56,759
Speaker 1: nobody would have been able to get in to help me.

693
00:38:57,800 --> 00:39:00,759
Speaker 1: And that was a moment where I said, I'm just

694
00:39:00,800 --> 00:39:04,920
Speaker 1: thankful to breathe. I'm thankful that somebody cares enough to

695
00:39:04,960 --> 00:39:08,000
Speaker 1: come and help me, Like God, if you don't do

696
00:39:08,040 --> 00:39:10,800
Speaker 1: anything else, you've done enough, Like thank you for just

697
00:39:10,880 --> 00:39:11,920
Speaker 1: letting me be here.

698
00:39:13,120 --> 00:39:16,719
Speaker 2: So I see that that you get that and that

699
00:39:16,760 --> 00:39:19,719
Speaker 2: you appreciate that. And that's not to discredit the other part,

700
00:39:19,760 --> 00:39:24,319
Speaker 2: because helping people, whether financially, spiritually, whatever way you help them,

701
00:39:24,560 --> 00:39:28,839
Speaker 2: can be gratifying and fulfilling for you as well. And

702
00:39:29,120 --> 00:39:31,440
Speaker 2: the Bible said that we should loan and not borrow,

703
00:39:31,520 --> 00:39:33,479
Speaker 2: that we should be the head and not the tail.

704
00:39:35,360 --> 00:39:39,200
Speaker 2: How does it feel to climb to the place where

705
00:39:39,200 --> 00:39:42,120
Speaker 2: you really can be a letter for other people?

706
00:39:44,880 --> 00:39:49,719
Speaker 1: Can I tell you the truth. Yeah, it's a blessing,

707
00:39:49,840 --> 00:39:51,440
Speaker 1: but it can also be a curse.

708
00:39:51,800 --> 00:39:53,000
Speaker 2: Okay, explain why.

709
00:39:54,000 --> 00:39:58,719
Speaker 1: On the blessing side, I love that I have the

710
00:39:58,800 --> 00:40:02,720
Speaker 1: ability to impact people those lives, even in the small ways.

711
00:40:02,760 --> 00:40:05,600
Speaker 1: Like we were in a snowstorm yesterday and I bought

712
00:40:05,640 --> 00:40:08,719
Speaker 1: two family meals and one of the families I gave

713
00:40:08,760 --> 00:40:11,080
Speaker 1: it to actually told me we had just run out

714
00:40:11,080 --> 00:40:15,400
Speaker 1: of food. So just being able to make sure that

715
00:40:15,440 --> 00:40:17,919
Speaker 1: people are okay and have the finances to make sure

716
00:40:17,920 --> 00:40:23,360
Speaker 1: that people are okay is rewarding in itself. On the

717
00:40:23,440 --> 00:40:26,640
Speaker 1: curse side, I feel like sometimes people assume that because

718
00:40:26,680 --> 00:40:34,200
Speaker 1: you have money, that taking money, yes, that they can

719
00:40:34,400 --> 00:40:41,120
Speaker 1: just take advantage, Like yeah, like I have one rental

720
00:40:41,160 --> 00:40:43,640
Speaker 1: home they didn't pay for three months and I'm like,

721
00:40:44,480 --> 00:40:46,239
Speaker 1: what was the thing. But I think they assumed that

722
00:40:46,320 --> 00:40:49,120
Speaker 1: I'm all right, so I didn't need the money, so

723
00:40:49,160 --> 00:40:51,040
Speaker 1: they negate their responsibilities.

724
00:40:53,440 --> 00:40:58,840
Speaker 2: I'm not comment on that. Relate and understand what that means.

725
00:41:00,880 --> 00:41:03,440
Speaker 2: If you were wanting to put your money into a

726
00:41:03,520 --> 00:41:08,040
Speaker 2: place that resisted the downward pull that the gravitational pull

727
00:41:08,400 --> 00:41:12,279
Speaker 2: that we're having on the valuation of the dollar, where

728
00:41:12,280 --> 00:41:12,920
Speaker 2: would you put it.

729
00:41:15,200 --> 00:41:18,560
Speaker 1: I still believe in the stock market, but I'm an

730
00:41:18,600 --> 00:41:22,480
Speaker 1: options trader now, and you can hedge in options. So

731
00:41:23,400 --> 00:41:25,279
Speaker 1: just having it in stocks is cool. But if the

732
00:41:25,320 --> 00:41:29,920
Speaker 1: stock falls, then you fall with it. On the option side,

733
00:41:30,000 --> 00:41:33,960
Speaker 1: you actually get to trade time. So in time, I

734
00:41:34,000 --> 00:41:36,839
Speaker 1: can say, you know what, in six months, I don't

735
00:41:36,840 --> 00:41:38,880
Speaker 1: know where it will be, but right now, if it

736
00:41:38,920 --> 00:41:42,160
Speaker 1: stays like this for a week, I make money. And

737
00:41:42,280 --> 00:41:44,560
Speaker 1: I got to be a seller of options too, So

738
00:41:44,680 --> 00:41:48,880
Speaker 1: now I get to control the house. Like the insurance companies,

739
00:41:49,280 --> 00:41:52,960
Speaker 1: they pay me just to give them time. So to

740
00:41:53,080 --> 00:41:56,160
Speaker 1: hedge money or to hedge, I choose options.

741
00:41:56,520 --> 00:41:59,040
Speaker 2: So what do you think about the chips going in

742
00:41:59,040 --> 00:42:05,080
Speaker 2: our bodies be able to conduct business to cyberge space And.

743
00:42:05,680 --> 00:42:08,960
Speaker 1: You know that sounds like black mirror to me. Yeah,

744
00:42:09,040 --> 00:42:13,920
Speaker 1: that sounds scary as heck. I don't know anybody controlling me.

745
00:42:14,000 --> 00:42:16,600
Speaker 1: Can you imagine, like I'm even nervous with with cars,

746
00:42:16,920 --> 00:42:18,960
Speaker 1: they can lock all the doors. Maybe I've seen too

747
00:42:19,000 --> 00:42:21,480
Speaker 1: many TV shows. They can lock all the doors. They

748
00:42:21,480 --> 00:42:23,080
Speaker 1: can control it from somewhere else.

749
00:42:23,440 --> 00:42:28,480
Speaker 2: We are losing power, We're losing privacy, we're losing control,

750
00:42:29,160 --> 00:42:32,640
Speaker 2: and we're losing it in the name of protecting us,

751
00:42:33,440 --> 00:42:37,839
Speaker 2: but it could easily be turned on us. Yeah, And

752
00:42:38,040 --> 00:42:43,560
Speaker 2: I don't know. I think Americans are upset and concerned

753
00:42:43,600 --> 00:42:46,080
Speaker 2: about it, but they don't know exactly what to do

754
00:42:46,400 --> 00:42:50,279
Speaker 2: about it. You know, from social media you can see

755
00:42:50,280 --> 00:42:53,799
Speaker 2: the outrage coming from strange places. But what do we

756
00:42:53,880 --> 00:42:54,480
Speaker 2: do about it?

757
00:42:54,560 --> 00:42:57,920
Speaker 1: We have lost privacy, oh definitely.

758
00:42:58,000 --> 00:42:58,239
Speaker 2: You know.

759
00:42:58,480 --> 00:43:01,640
Speaker 1: I think every like series, in every conversation, whether we

760
00:43:01,719 --> 00:43:03,759
Speaker 1: want or to or not right right.

761
00:43:03,760 --> 00:43:07,400
Speaker 2: And it's getting worse and worse. And I mean everything hvac,

762
00:43:08,080 --> 00:43:13,120
Speaker 2: everything has Wi Fi connected to it, televisions, whatever you

763
00:43:13,200 --> 00:43:15,959
Speaker 2: got to get your toaster done there has has Wi

764
00:43:16,000 --> 00:43:19,600
Speaker 2: Fi in it. So it's getting interesting. What we would

765
00:43:19,600 --> 00:43:24,040
Speaker 2: call smart homes maybe weren't so smart because they become

766
00:43:24,080 --> 00:43:30,359
Speaker 2: so technologically savvy that who's really running things Uncle Sam

767
00:43:30,480 --> 00:43:33,520
Speaker 2: and reporting back to Uncle Sam where you are, what

768
00:43:33,560 --> 00:43:37,719
Speaker 2: you're doing, what you bought. And if money comes out

769
00:43:37,760 --> 00:43:41,200
Speaker 2: of your pocket and becomes something that they allocate through

770
00:43:41,239 --> 00:43:45,080
Speaker 2: your hand or your wrist or whatever it is, it

771
00:43:45,160 --> 00:43:48,279
Speaker 2: sounds kind of apocalyptic to me.

772
00:43:50,880 --> 00:43:53,520
Speaker 1: One question will be if there is something where money

773
00:43:53,520 --> 00:43:55,960
Speaker 1: can come out of my risk? Can people hack it?

774
00:43:56,520 --> 00:43:59,680
Speaker 1: So can they like hack it? And then I now

775
00:43:59,719 --> 00:44:03,160
Speaker 1: have no more money? Like that would be the fear. Yeah,

776
00:44:03,239 --> 00:44:05,279
Speaker 1: Like if there was a chip and it had all

777
00:44:05,320 --> 00:44:07,839
Speaker 1: of your bank credit card and it was right here

778
00:44:07,880 --> 00:44:09,520
Speaker 1: and you just put your hand like that would it

779
00:44:09,520 --> 00:44:12,960
Speaker 1: would definitely help with ease. But then, well, what if

780
00:44:12,960 --> 00:44:16,000
Speaker 1: somebody goes by you and they take all the money off.

781
00:44:16,360 --> 00:44:18,920
Speaker 2: Well, you know, I was reading I think it was

782
00:44:19,120 --> 00:44:22,920
Speaker 2: either China or Japan where they they can cut your

783
00:44:22,960 --> 00:44:28,040
Speaker 2: money off if you speak against uh, it was China.

784
00:44:28,239 --> 00:44:32,719
Speaker 2: If you speak against the leadership, speak politically against them.

785
00:44:32,760 --> 00:44:36,799
Speaker 2: If if you hang around the wrong people, if they

786
00:44:36,800 --> 00:44:40,120
Speaker 2: don't like your behavior, your morality, or something that you do,

787
00:44:40,400 --> 00:44:44,759
Speaker 2: they actually can cut your money off. And so you

788
00:44:44,840 --> 00:44:48,360
Speaker 2: put your wrists down there and it goes, you know, nothing,

789
00:44:48,480 --> 00:44:51,520
Speaker 2: nothing happens. That's a lot of power to give to

790
00:44:51,719 --> 00:44:52,400
Speaker 2: the government.

791
00:44:52,840 --> 00:44:55,360
Speaker 1: But see they have that now. I felt that recently

792
00:44:55,360 --> 00:44:57,680
Speaker 1: in Puerto Rico when all of a sudden we found

793
00:44:57,680 --> 00:45:01,360
Speaker 1: out we couldn't fly anywhere. Yeah, do you remember recently

794
00:45:01,400 --> 00:45:06,080
Speaker 1: they had they had bombed Venezuela and then in Puerto Rico,

795
00:45:06,160 --> 00:45:09,319
Speaker 1: we just found out, Hey, no, no planes are coming

796
00:45:09,360 --> 00:45:13,000
Speaker 1: in er out, So there's control even now that we're

797
00:45:13,040 --> 00:45:13,960
Speaker 1: already dealing with.

798
00:45:14,120 --> 00:45:16,400
Speaker 2: Oh yeah, we're already sliding down the hill. I'm just

799
00:45:16,440 --> 00:45:18,839
Speaker 2: trying to figure out how down the hill when we're

800
00:45:18,840 --> 00:45:25,120
Speaker 2: willing to go Chapter number nine Due diligence. They tell

801
00:45:25,239 --> 00:45:29,640
Speaker 2: me that you you did business for a man and

802
00:45:29,840 --> 00:45:34,600
Speaker 2: gave him a million dollars worth of land to support

803
00:45:35,239 --> 00:45:38,920
Speaker 2: a man that said he wanted to build a foster home,

804
00:45:39,440 --> 00:45:42,600
Speaker 2: only to find out that the land was bad. Yes,

805
00:45:43,320 --> 00:45:45,719
Speaker 2: what's what's the land bad? Or the man?

806
00:45:46,680 --> 00:45:55,040
Speaker 1: M good question? Woman? Honest?

807
00:45:55,360 --> 00:45:56,680
Speaker 2: Yeah, yeah, be honest.

808
00:45:57,200 --> 00:46:02,000
Speaker 1: So I think I have to give a little more context.

809
00:46:02,920 --> 00:46:06,000
Speaker 1: I'm one of those people like we say that I

810
00:46:06,120 --> 00:46:08,680
Speaker 1: just I give. I see a need and I give.

811
00:46:09,320 --> 00:46:10,920
Speaker 1: And this is one of those places where I think

812
00:46:10,920 --> 00:46:14,600
Speaker 1: I made a big mistake. So I found out from

813
00:46:14,600 --> 00:46:17,040
Speaker 1: somebody that they were trying to get some land for

814
00:46:17,080 --> 00:46:19,480
Speaker 1: a foster care home. I thought, oh, yeah, that's a

815
00:46:19,520 --> 00:46:22,279
Speaker 1: great idea, let's get the foster care home. But I

816
00:46:22,320 --> 00:46:25,879
Speaker 1: didn't do any due diligence. I didn't find out more

817
00:46:25,880 --> 00:46:28,279
Speaker 1: about the plan about the foster care home, and I

818
00:46:28,320 --> 00:46:31,319
Speaker 1: didn't test the land before we bought it. I do

819
00:46:31,520 --> 00:46:33,880
Speaker 1: know that some things started to get a little shifty

820
00:46:33,920 --> 00:46:36,640
Speaker 1: because I originally gave some money for a down payment,

821
00:46:36,719 --> 00:46:38,960
Speaker 1: then found out the people who owned the land weren't

822
00:46:39,000 --> 00:46:42,960
Speaker 1: really the people who owned the land. So then I said, well, okay,

823
00:46:42,960 --> 00:46:46,560
Speaker 1: well I'll buy it myself. Then I buy the land myself,

824
00:46:46,640 --> 00:46:49,640
Speaker 1: and then had some folks come and drill holes, find

825
00:46:49,680 --> 00:46:52,120
Speaker 1: out what can't build on the land, and the city

826
00:46:52,160 --> 00:46:54,560
Speaker 1: won't even let you build a foster care home. Well,

827
00:46:54,840 --> 00:46:59,120
Speaker 1: so everything I thought that I was giving to it couldn't.

828
00:46:59,160 --> 00:46:59,960
Speaker 1: It was for nothing.

829
00:47:01,160 --> 00:47:03,319
Speaker 2: If I'm looking at you, stranger, it's not because I

830
00:47:03,360 --> 00:47:06,520
Speaker 2: haven't done stupid things. I have done things that you

831
00:47:06,680 --> 00:47:10,680
Speaker 2: learn the heart way. Education always has a tuition, and

832
00:47:11,239 --> 00:47:15,040
Speaker 2: the tuition is really happher for that sort of thing.

833
00:47:16,040 --> 00:47:24,120
Speaker 2: Might I suggest getting a review board in putting a

834
00:47:24,200 --> 00:47:27,480
Speaker 2: wall between you and the need. Since you are so

835
00:47:27,719 --> 00:47:31,560
Speaker 2: open hearted and giving, let it go through a process

836
00:47:31,600 --> 00:47:35,800
Speaker 2: that protects you and some people who will vet properly

837
00:47:36,200 --> 00:47:39,880
Speaker 2: so that when they hand you a deal, it shouldn't

838
00:47:39,880 --> 00:47:45,480
Speaker 2: even come to you until it's clean, especially because you

839
00:47:45,560 --> 00:47:48,799
Speaker 2: know your heart, yeah you know, and the Bible says

840
00:47:48,840 --> 00:47:50,880
Speaker 2: God your heart for out of your heart clos issues

841
00:47:50,920 --> 00:47:53,719
Speaker 2: of life. When you know that you're tender hearted and

842
00:47:53,760 --> 00:47:57,440
Speaker 2: you're open for a soft story, you have to build

843
00:47:57,480 --> 00:48:01,960
Speaker 2: your company a little bit differently around your personality, your

844
00:48:01,960 --> 00:48:04,760
Speaker 2: weaknesses and your strength, and you need somebody right behind

845
00:48:04,800 --> 00:48:09,280
Speaker 2: you who is hard, suspicious, don't believe anything. Wants proved,

846
00:48:09,360 --> 00:48:11,880
Speaker 2: want to see the signature, want it written in a

847
00:48:11,920 --> 00:48:14,200
Speaker 2: different ink, you know, we want to bring it through

848
00:48:14,200 --> 00:48:16,600
Speaker 2: the law. You want to vet everything, want to go

849
00:48:16,680 --> 00:48:20,920
Speaker 2: through everything, just to make sure that what God has

850
00:48:21,000 --> 00:48:25,360
Speaker 2: given you doesn't fall among stony ground and the bird's

851
00:48:25,360 --> 00:48:28,239
Speaker 2: eat up what God has given you. Yeah, so that's

852
00:48:28,280 --> 00:48:29,400
Speaker 2: something to think about.

853
00:48:29,800 --> 00:48:30,480
Speaker 1: I'll see that.

854
00:48:30,640 --> 00:48:33,080
Speaker 2: Yeah, you think that that might help a little bit.

855
00:48:33,440 --> 00:48:37,000
Speaker 1: I definitely do, because recently I decided to have a

856
00:48:37,040 --> 00:48:40,319
Speaker 1: family office for that very reason, so that there's somebody

857
00:48:40,360 --> 00:48:42,640
Speaker 1: that can go like someone they have to go through

858
00:48:42,760 --> 00:48:46,080
Speaker 1: before I approve a deal. And there's been other request too,

859
00:48:46,160 --> 00:48:48,479
Speaker 1: like oh, we want to do this movie, the movie deal,

860
00:48:48,560 --> 00:48:52,360
Speaker 1: we want to do this other project. And I agree

861
00:48:52,480 --> 00:48:55,360
Speaker 1: because my heart, I'm just like, oh, sure, I got it,

862
00:48:55,480 --> 00:48:59,759
Speaker 1: let's do it. It can't be me to the point

863
00:48:59,760 --> 00:49:02,040
Speaker 1: from before I have to allowing people.

864
00:49:01,800 --> 00:49:04,839
Speaker 2: Now, Yeah, yeah, yeah, yeah, yeah. And finding the right

865
00:49:04,880 --> 00:49:08,600
Speaker 2: people is probably harder than buying the right stock. It

866
00:49:08,719 --> 00:49:12,920
Speaker 2: is because people are an investment, and when you invest

867
00:49:13,000 --> 00:49:16,880
Speaker 2: in people, you're investing in character you can't see. But

868
00:49:17,600 --> 00:49:22,000
Speaker 2: the highest psychology says the highest protector predictor of future

869
00:49:22,040 --> 00:49:25,279
Speaker 2: behavior is past behavior, so you can look at what

870
00:49:25,320 --> 00:49:27,759
Speaker 2: they've done in the past and kind of get a

871
00:49:27,800 --> 00:49:29,480
Speaker 2: clue of what they're going to do in the future.

872
00:49:30,200 --> 00:49:33,280
Speaker 2: I read that you did. You paid off your student

873
00:49:33,360 --> 00:49:39,040
Speaker 2: loans in thirty days through stocks for seventeen million, seventeen

874
00:49:39,120 --> 00:49:40,000
Speaker 2: thousand dollars.

875
00:49:40,200 --> 00:49:46,520
Speaker 1: Yep, my dahaciological seminary loan you did? I did? Go yep.

876
00:49:46,680 --> 00:49:49,720
Speaker 1: So I did my master's at DTS and I paid

877
00:49:49,719 --> 00:49:50,880
Speaker 1: that off all with stocks.

878
00:49:51,120 --> 00:49:54,320
Speaker 2: That's the y'all should be listening to this. May this

879
00:49:54,560 --> 00:49:58,840
Speaker 2: maybe needed information that you need to know. Whatd it

880
00:49:58,960 --> 00:50:05,720
Speaker 2: bother you? I assume you single? Okay, would it bother

881
00:50:05,840 --> 00:50:10,200
Speaker 2: you to marry somebody who worked for fed X? Know?

882
00:50:10,320 --> 00:50:12,399
Speaker 1: If he was a good man, I'd be okay with it.

883
00:50:13,200 --> 00:50:16,319
Speaker 1: I think the only problem is that my lifestyle, like

884
00:50:16,400 --> 00:50:18,840
Speaker 1: I travel and I move, so it'd be hard for

885
00:50:18,920 --> 00:50:20,440
Speaker 1: us to still date if he has to go to

886
00:50:20,480 --> 00:50:23,319
Speaker 1: work at the same place every day, because if I'm

887
00:50:23,680 --> 00:50:27,400
Speaker 1: you know, traveling to Italy or traveling somewhere else, like,

888
00:50:27,840 --> 00:50:30,600
Speaker 1: it'd be nice to have someone who has time autonomy

889
00:50:31,600 --> 00:50:34,640
Speaker 1: like so that that would be tough. He would we'd

890
00:50:34,640 --> 00:50:37,760
Speaker 1: be a phone call long distance because I'm always gone.

891
00:50:38,840 --> 00:50:41,160
Speaker 1: But if he's a good man, that would be nice.

892
00:50:41,520 --> 00:50:44,279
Speaker 1: But I will say, Bisha Black and I would love

893
00:50:44,280 --> 00:50:47,879
Speaker 1: your opinion on this too. I want to I want

894
00:50:47,920 --> 00:50:50,920
Speaker 1: to trust the opinion of the person I'm dating and

895
00:50:51,000 --> 00:50:53,799
Speaker 1: have a thought partner. And I'm a little nervous that

896
00:50:53,960 --> 00:50:57,600
Speaker 1: if if he has only worked at FedEx, and actually

897
00:50:57,680 --> 00:51:00,600
Speaker 1: if he's in the c suite or the leadership, then

898
00:51:00,640 --> 00:51:04,080
Speaker 1: maybe his mind is on part with my mind. I

899
00:51:04,200 --> 00:51:07,120
Speaker 1: just want to make sure that I respect him and

900
00:51:07,200 --> 00:51:10,520
Speaker 1: respect his opinion, and if he hasn't done like a lot,

901
00:51:10,600 --> 00:51:14,759
Speaker 1: it might be hard. Except that's a little bit of

902
00:51:14,800 --> 00:51:16,600
Speaker 1: a I don't know.

903
00:51:16,800 --> 00:51:22,799
Speaker 2: So that's not about dollars. That's about experience and education, preparation,

904
00:51:23,000 --> 00:51:26,279
Speaker 2: that sort of thing. I don't fault you for that

905
00:51:26,440 --> 00:51:29,640
Speaker 2: at all. I think that's an important commodity to have

906
00:51:30,200 --> 00:51:32,640
Speaker 2: so that you can have these kinds of conversations, so

907
00:51:32,680 --> 00:51:36,320
Speaker 2: that he can be protective, which is instinctively our nature

908
00:51:36,360 --> 00:51:40,200
Speaker 2: to be protective of you. But you can be a

909
00:51:40,200 --> 00:51:42,960
Speaker 2: professor at a university and not make the money you

910
00:51:43,040 --> 00:51:46,960
Speaker 2: make and still be able to give advice and counsel.

911
00:51:47,480 --> 00:51:50,320
Speaker 2: So it's kind of a dance. I think the bigger

912
00:51:50,360 --> 00:51:54,000
Speaker 2: thing is would you do with prenup?

913
00:51:54,480 --> 00:51:58,799
Speaker 1: Oh, definitely, yeah. I want to make sure that we're

914
00:51:58,800 --> 00:52:01,319
Speaker 1: in it for the right reason. And I know some

915
00:52:01,360 --> 00:52:04,399
Speaker 1: people say, oh, if you sign the prenup, then you're

916
00:52:04,440 --> 00:52:07,640
Speaker 1: going into it thinking it'll fail, But no, I want

917
00:52:07,760 --> 00:52:10,520
Speaker 1: to know for sure that he's here for our love

918
00:52:10,840 --> 00:52:12,880
Speaker 1: and not for any other reason.

919
00:52:13,080 --> 00:52:15,480
Speaker 2: Well, I want to tell you prenups don't always hold

920
00:52:15,719 --> 00:52:19,239
Speaker 2: really yeah, they can crawl through them. They're not as

921
00:52:19,280 --> 00:52:22,560
Speaker 2: safe as we once thought that they were, and you

922
00:52:22,680 --> 00:52:25,160
Speaker 2: need to bear that in mind. And now that women

923
00:52:25,200 --> 00:52:27,839
Speaker 2: are making more money than men, you have to kind

924
00:52:27,840 --> 00:52:31,240
Speaker 2: of investigate that whole prenup thing a little bit because

925
00:52:31,800 --> 00:52:37,040
Speaker 2: men need to investigate it as well. Would you date

926
00:52:37,080 --> 00:52:38,440
Speaker 2: somebody who had a child.

927
00:52:39,239 --> 00:52:42,680
Speaker 1: Yes, I unfortunately won't be able to have a child

928
00:52:42,680 --> 00:52:45,719
Speaker 1: myself because of the whole fiber thing I was telling

929
00:52:45,760 --> 00:52:49,200
Speaker 1: you about, so it'd be good if he has a child.

930
00:52:49,280 --> 00:52:51,280
Speaker 1: So that at least he won't feel like I can't

931
00:52:51,320 --> 00:52:52,160
Speaker 1: give that to him.

932
00:52:52,400 --> 00:52:54,160
Speaker 2: I might get you married on this thing.

933
00:52:54,360 --> 00:52:58,600
Speaker 1: Hey yeah, hey, y'all, I'm sick. My name is Heery.

934
00:53:00,120 --> 00:53:02,520
Speaker 1: But that has been something that I've worried about a

935
00:53:02,560 --> 00:53:05,879
Speaker 1: bit too, Like, you know, is someone going to feel

936
00:53:05,880 --> 00:53:08,480
Speaker 1: like I'm less of a woman because I can't hold

937
00:53:08,520 --> 00:53:11,480
Speaker 1: the child myself. I can get a surrogate, like I can,

938
00:53:11,840 --> 00:53:14,320
Speaker 1: you know, freeze my eggs. But I am getting a

939
00:53:14,320 --> 00:53:17,520
Speaker 1: little older, so does that lower my value in the

940
00:53:17,600 --> 00:53:20,600
Speaker 1: dating pool? That's been a question I've had to ask myself.

941
00:53:21,000 --> 00:53:24,880
Speaker 2: We're getting older too. Yeah, what do you think about?

942
00:53:25,080 --> 00:53:30,800
Speaker 2: What do you think about using life insurance to do baking,

943
00:53:31,719 --> 00:53:39,840
Speaker 2: like a whole life policy, borrowing from the policy, using

944
00:53:39,880 --> 00:53:45,120
Speaker 2: the money without it's not taxable because it's insurance, and

945
00:53:45,160 --> 00:53:48,120
Speaker 2: then paying it back when you want to or as

946
00:53:48,160 --> 00:53:50,200
Speaker 2: you want to, or letting it come out of your

947
00:53:50,200 --> 00:53:53,439
Speaker 2: death benefit. Is that a style of business that you've

948
00:53:53,480 --> 00:53:54,280
Speaker 2: ever considered?

949
00:53:55,000 --> 00:53:58,200
Speaker 1: So one person I've talked to actually uses it as

950
00:53:58,280 --> 00:54:00,960
Speaker 1: part of their retirement plan. They got a whole life

951
00:54:01,040 --> 00:54:03,839
Speaker 1: on their parents, and so they know that when their

952
00:54:03,840 --> 00:54:06,719
Speaker 1: parents passes away, which is all going to happen for

953
00:54:06,760 --> 00:54:09,920
Speaker 1: all of us that that's part of their retirement. I

954
00:54:09,960 --> 00:54:12,920
Speaker 1: thought that was really smart. I haven't done that for myself,

955
00:54:12,960 --> 00:54:15,120
Speaker 1: but I do think that's a good retirement plan.

956
00:54:16,120 --> 00:54:19,840
Speaker 2: Yeah. So Odell Beckham, i'm told, made a statement that

957
00:54:20,560 --> 00:54:23,480
Speaker 2: making a hundred million dollars in the contract for a

958
00:54:23,520 --> 00:54:26,640
Speaker 2: lifetime and that's all that you get. He had some

959
00:54:26,719 --> 00:54:31,000
Speaker 2: concerns about whether that was enough money. I wondered what

960
00:54:31,040 --> 00:54:33,960
Speaker 2: your thoughts were about it, and then I'll share what

961
00:54:34,040 --> 00:54:34,520
Speaker 2: I think.

962
00:54:35,440 --> 00:54:37,400
Speaker 1: I think you could make it work. And this is

963
00:54:37,400 --> 00:54:39,920
Speaker 1: what I would do if I got one hundred million dollars,

964
00:54:40,360 --> 00:54:42,680
Speaker 1: just me. So first of all, it's not one hundred

965
00:54:42,719 --> 00:54:45,480
Speaker 1: million dollars because tax comes out of it, right, So

966
00:54:45,760 --> 00:54:48,480
Speaker 1: now take let's just take forty percent. So now you

967
00:54:48,520 --> 00:54:52,239
Speaker 1: got sixty million dollars. Then out of that sixty million dollars,

968
00:54:52,280 --> 00:54:54,200
Speaker 1: you don't get it all at one time. Well I

969
00:54:54,200 --> 00:54:56,920
Speaker 1: don't know. Does he get his in one year or

970
00:54:57,000 --> 00:55:01,399
Speaker 1: is it over it? Okay, he got it in one year,

971
00:55:01,960 --> 00:55:04,399
Speaker 1: So that sixty million dollars. This is how I would

972
00:55:04,400 --> 00:55:09,920
Speaker 1: break it up, not education advice, but personal. So in

973
00:55:09,960 --> 00:55:12,000
Speaker 1: the sixty million, a good amount of it I will

974
00:55:12,040 --> 00:55:13,960
Speaker 1: put in the S and P five hundred, because it

975
00:55:14,160 --> 00:55:17,400
Speaker 1: grows about eight to ten percent. I would have a

976
00:55:17,440 --> 00:55:20,200
Speaker 1: portion of it. So let's let's do my percentages. Let's

977
00:55:20,239 --> 00:55:23,200
Speaker 1: say twenty five percent of it I actually had in cash.

978
00:55:23,280 --> 00:55:29,160
Speaker 1: That's a lot. It's like twenty five percent, eighteen like

979
00:55:29,560 --> 00:55:31,960
Speaker 1: twenty three, like you know, we're getting into minutia. But

980
00:55:32,040 --> 00:55:34,919
Speaker 1: let's say twenty million of it. That's still a lot.

981
00:55:35,040 --> 00:55:39,520
Speaker 1: But twin let's yeah, twenty million cash that's making five

982
00:55:39,600 --> 00:55:42,480
Speaker 1: percent a year of four to five percent in a

983
00:55:42,560 --> 00:55:46,399
Speaker 1: high high interest or high yield that actually can pay

984
00:55:46,400 --> 00:55:49,040
Speaker 1: for his family, because I have a feeling what his

985
00:55:49,200 --> 00:55:52,399
Speaker 1: concern is. Well, now people are asking me to take

986
00:55:52,440 --> 00:55:55,439
Speaker 1: care of them. Now people are asking me to buy

987
00:55:55,480 --> 00:55:58,600
Speaker 1: them houses. Well, that five percent return on the twenty

988
00:55:58,600 --> 00:56:02,040
Speaker 1: million can go towards und people's lifestyles, including his own.

989
00:56:03,320 --> 00:56:06,640
Speaker 1: Then we have, well, the twenty percent is a lot

990
00:56:06,680 --> 00:56:10,719
Speaker 1: of sixty. So let's say that ten million we did

991
00:56:11,440 --> 00:56:14,080
Speaker 1: in cash and the five percent is going towards family.

992
00:56:14,760 --> 00:56:16,640
Speaker 1: Then another portion of it we have towards the S

993
00:56:16,680 --> 00:56:20,399
Speaker 1: and P five hundred that's making a eight to ten

994
00:56:20,440 --> 00:56:25,440
Speaker 1: percent return. So that's actually not bad. So let's imagine

995
00:56:25,440 --> 00:56:28,920
Speaker 1: that forty million of it is in the S and

996
00:56:28,920 --> 00:56:32,799
Speaker 1: P five hundred and it makes ten percent. Well, that's

997
00:56:32,800 --> 00:56:37,320
Speaker 1: four million that is compounding every year, and that actually

998
00:56:37,360 --> 00:56:40,879
Speaker 1: can start growing. Then the next piece of it we're

999
00:56:40,880 --> 00:56:43,640
Speaker 1: now putting into and we don't have to think about

1000
00:56:43,840 --> 00:56:45,759
Speaker 1: the actual amounts per but the next piece of it,

1001
00:56:45,800 --> 00:56:49,040
Speaker 1: we're putting into things that make more. So individual stocks

1002
00:56:49,040 --> 00:56:52,319
Speaker 1: can make more, private equity can make more. Now we're

1003
00:56:52,320 --> 00:56:55,840
Speaker 1: getting into the over twenty percent return, so then we

1004
00:56:55,880 --> 00:56:57,960
Speaker 1: can start thinking about Okay, now am I going to

1005
00:56:58,080 --> 00:57:01,600
Speaker 1: use a schematic bundle to do that? So? Am I

1006
00:57:01,640 --> 00:57:04,640
Speaker 1: going to do like an AI themed bundle? Right now?

1007
00:57:04,719 --> 00:57:08,400
Speaker 1: That AI theme is giving you maybe twenty to fifty

1008
00:57:08,400 --> 00:57:13,399
Speaker 1: percent return that will last forever, you know, Like, this

1009
00:57:13,480 --> 00:57:15,040
Speaker 1: is how I would break it up if I was

1010
00:57:15,040 --> 00:57:17,840
Speaker 1: trying to get that money to last forever. But if

1011
00:57:17,880 --> 00:57:20,560
Speaker 1: he's just giving the money out and spending it, then

1012
00:57:20,560 --> 00:57:21,160
Speaker 1: it won't last.

1013
00:57:21,160 --> 00:57:24,280
Speaker 2: It won't last, it won't. Let I agree with everything

1014
00:57:24,360 --> 00:57:26,960
Speaker 2: you said. In addition to it, I would have took

1015
00:57:27,040 --> 00:57:31,920
Speaker 2: the last twenty million dollars and borrowed against it and

1016
00:57:32,040 --> 00:57:35,720
Speaker 2: leveraged the money. Rather than spending the money. I would

1017
00:57:35,720 --> 00:57:39,000
Speaker 2: have leveraged the money about real estate, and about real

1018
00:57:39,120 --> 00:57:43,320
Speaker 2: estate that produced income that paid the note on the

1019
00:57:43,360 --> 00:57:46,479
Speaker 2: property while I still had the twenty million, and grow

1020
00:57:46,560 --> 00:57:50,160
Speaker 2: the twenty million and create my own stock market. You

1021
00:57:50,200 --> 00:57:52,960
Speaker 2: can create your own stock market if you own enough

1022
00:57:53,000 --> 00:57:57,680
Speaker 2: assets that you create the same thing that Wall Street

1023
00:57:57,720 --> 00:57:59,959
Speaker 2: is doing, you can do on a much smaller scale.

1024
00:58:00,160 --> 00:58:01,960
Speaker 2: It could be a grocery store, it could be a

1025
00:58:01,960 --> 00:58:04,640
Speaker 2: gas station. You own it. You've got a certain amount

1026
00:58:04,640 --> 00:58:06,800
Speaker 2: of money coming back into it from all of these

1027
00:58:06,840 --> 00:58:09,400
Speaker 2: different angles, and you have to watch it, just like

1028
00:58:09,480 --> 00:58:13,680
Speaker 2: the market, but create something that you can control. Because

1029
00:58:13,720 --> 00:58:16,000
Speaker 2: of the market you can't control. And I would tie

1030
00:58:16,040 --> 00:58:20,320
Speaker 2: that twenty million to assets, but not spend it, just

1031
00:58:20,640 --> 00:58:24,280
Speaker 2: leverage it to get the loan to use other people's money.

1032
00:58:24,640 --> 00:58:27,480
Speaker 1: Can can we explain to people what margin is, like

1033
00:58:27,560 --> 00:58:29,000
Speaker 1: how rich people keep all their money?

1034
00:58:29,080 --> 00:58:29,360
Speaker 2: Yes?

1035
00:58:29,440 --> 00:58:32,480
Speaker 1: Yes, So with sixty million dollars in the bank, the

1036
00:58:32,560 --> 00:58:34,800
Speaker 1: bank will actually give you, like if you're at a

1037
00:58:35,560 --> 00:58:39,880
Speaker 1: like a big wealth bank, think Goldman, Morgan, Stanley, the

1038
00:58:39,920 --> 00:58:43,160
Speaker 1: big big banks, seventy percent of that they'll give you

1039
00:58:43,240 --> 00:58:46,080
Speaker 1: a margin. So you can go and spend the money,

1040
00:58:46,120 --> 00:58:50,160
Speaker 1: but you can have your real money actually still invested. Right,

1041
00:58:50,400 --> 00:58:53,360
Speaker 1: So that's when you're talking about leverage. Use the margin

1042
00:58:53,400 --> 00:58:56,400
Speaker 1: account to go buy real estate, to go buy something

1043
00:58:56,480 --> 00:58:59,200
Speaker 1: else that's actually going to appreciate as well, and then

1044
00:58:59,280 --> 00:59:03,040
Speaker 1: your current cash is appreciating in their investments. So now

1045
00:59:03,080 --> 00:59:07,640
Speaker 1: you have two forms of money building right right, So yes, the.

1046
00:59:07,520 --> 00:59:11,600
Speaker 2: More forms you can have, the less likely you are

1047
00:59:11,720 --> 00:59:16,200
Speaker 2: to worry about a crash. You know, everything, everything is

1048
00:59:16,240 --> 00:59:19,680
Speaker 2: not going to crash. So whether there are stocks and

1049
00:59:19,720 --> 00:59:23,960
Speaker 2: in the banks where you become stockholders or shareholders in

1050
00:59:24,040 --> 00:59:32,680
Speaker 2: the bank, or whether you go through traditional financing, whether

1051
00:59:32,720 --> 00:59:36,520
Speaker 2: you invest in the stock market traditionally, or whether you

1052
00:59:36,600 --> 00:59:39,360
Speaker 2: create your own by leveraging your capital as we were

1053
00:59:39,440 --> 00:59:44,160
Speaker 2: first talking about. I think the more diversified your portfolio is,

1054
00:59:44,200 --> 00:59:47,960
Speaker 2: it's better and the safer that you are. And having

1055
00:59:48,000 --> 00:59:52,560
Speaker 2: some insurance on the things that you bought, Putting capital

1056
00:59:53,760 --> 00:59:57,520
Speaker 2: on something that's solid that's not going to fluctuate as

1057
00:59:57,600 --> 01:00:00,440
Speaker 2: much as the market does, sounds real good. Where I

1058
01:00:00,480 --> 01:00:05,240
Speaker 2: am a little weak. It's this new cyber money, you know.

1059
01:00:05,440 --> 01:00:07,840
Speaker 2: I don't play over there too much. I just keep

1060
01:00:07,920 --> 01:00:10,800
Speaker 2: looking over there at it and seeing seeing what it

1061
01:00:10,840 --> 01:00:13,200
Speaker 2: looks like. I know a lot of friends have done

1062
01:00:13,240 --> 01:00:14,520
Speaker 2: real well in the Cyberg.

1063
01:00:15,560 --> 01:00:20,480
Speaker 1: You haven't invested at all in in like crypto. No, Well, okay,

1064
01:00:20,520 --> 01:00:23,760
Speaker 1: so bigcoin. Just imagine bigcoin went up to one hundred

1065
01:00:23,800 --> 01:00:26,840
Speaker 1: thousand and then it came back down into the eighties.

1066
01:00:26,920 --> 01:00:29,160
Speaker 1: Lately you don't even want to get one.

1067
01:00:29,880 --> 01:00:32,240
Speaker 2: And I don't mind. I don't mind him coming down

1068
01:00:32,240 --> 01:00:34,920
Speaker 2: into the eighties, but if he drops down to the twenties,

1069
01:00:35,960 --> 01:00:38,200
Speaker 2: I got problems. And if you can do it in

1070
01:00:38,240 --> 01:00:40,920
Speaker 2: a day, you know, I know people who lost their

1071
01:00:40,920 --> 01:00:43,640
Speaker 2: shirts and I know people who did really really well,

1072
01:00:44,240 --> 01:00:47,880
Speaker 2: I'm gonna venture ound. I'm just a little slow. You know.

1073
01:00:48,000 --> 01:00:50,040
Speaker 2: My name is Thomas. You know what he did.

1074
01:00:52,520 --> 01:00:56,840
Speaker 1: I think it's something worth investing in. But it's always

1075
01:00:56,880 --> 01:00:59,560
Speaker 1: hard to invest at all time highs. So when you

1076
01:00:59,600 --> 01:01:02,200
Speaker 1: see it's start coming down a little bit more than

1077
01:01:02,280 --> 01:01:03,520
Speaker 1: maybe you get a couple.

1078
01:01:03,760 --> 01:01:08,720
Speaker 2: Well you take tesla sink down to the floor. But

1079
01:01:09,240 --> 01:01:12,160
Speaker 2: everybody was running from it. But my rule of thumb

1080
01:01:12,320 --> 01:01:15,760
Speaker 2: is when everybody's running away, that's the time you run in,

1081
01:01:16,280 --> 01:01:18,080
Speaker 2: because you can bat for a little or nothing, and

1082
01:01:18,120 --> 01:01:21,560
Speaker 2: it's going to come back up again. Especially you're not

1083
01:01:21,800 --> 01:01:25,240
Speaker 2: really betting on the stock, you're betting on the shrewdness

1084
01:01:25,400 --> 01:01:29,160
Speaker 2: of the of the company leadership, the c suite people.

1085
01:01:29,520 --> 01:01:31,960
Speaker 2: You're betting. At the end of the day, you're always

1086
01:01:32,000 --> 01:01:35,280
Speaker 2: betting on the decision of the person in the big chair.

1087
01:01:36,640 --> 01:01:39,400
Speaker 2: That's what you're really betting on. And if they have

1088
01:01:39,560 --> 01:01:43,560
Speaker 2: a history of landing on their feet, chances are they're

1089
01:01:43,600 --> 01:01:45,040
Speaker 2: going to land on their feet again.

1090
01:01:45,840 --> 01:01:49,040
Speaker 1: And you have you're betting on the overall economy of

1091
01:01:49,080 --> 01:01:52,640
Speaker 1: the United States. Some of those healthy companies, like the

1092
01:01:53,000 --> 01:01:56,000
Speaker 1: we call the Magnificent Sevens, they're going to go with

1093
01:01:56,240 --> 01:01:57,680
Speaker 1: the direction of the economy.

1094
01:01:57,880 --> 01:02:02,320
Speaker 2: Yeah, and the economy of the world because money is

1095
01:02:02,360 --> 01:02:06,720
Speaker 2: now global. You start looking at Google and Xerox and

1096
01:02:06,760 --> 01:02:09,959
Speaker 2: companies like that. They are all over the world. They're

1097
01:02:10,000 --> 01:02:13,600
Speaker 2: doing business everywhere, and we have to get more global

1098
01:02:13,640 --> 01:02:17,240
Speaker 2: in our thinking. We've been community in our thinking, but

1099
01:02:17,360 --> 01:02:19,960
Speaker 2: as we disperse around the world, we have to think

1100
01:02:20,000 --> 01:02:24,520
Speaker 2: a little bit more globally in our finances and have

1101
01:02:24,680 --> 01:02:27,880
Speaker 2: these kinds of conversations where iron sharpen.

1102
01:02:27,560 --> 01:02:31,720
Speaker 1: If iron, yes, I'm actually interested in how do you

1103
01:02:31,840 --> 01:02:34,600
Speaker 1: invest that extra piece? So yes, we have real estate,

1104
01:02:34,880 --> 01:02:38,720
Speaker 1: but also there's like sports and sports teams that are increasing,

1105
01:02:39,280 --> 01:02:41,439
Speaker 1: so there's all these other fun ways too.

1106
01:02:41,840 --> 01:02:44,280
Speaker 2: Yeah, well, you know, when you say real estate, that's

1107
01:02:44,320 --> 01:02:48,760
Speaker 2: a big word. It could be the stadium. It could

1108
01:02:48,840 --> 01:02:54,440
Speaker 2: be restaurants, which are scary business. It could be industry.

1109
01:02:55,320 --> 01:02:56,120
Speaker 2: It could be.

1110
01:02:57,680 --> 01:03:01,480
Speaker 1: Residential inside of the stadiums, inside of the state businesses,

1111
01:03:01,880 --> 01:03:02,680
Speaker 1: great food.

1112
01:03:02,760 --> 01:03:06,240
Speaker 2: Inside of the airports. It could be airports. It can

1113
01:03:06,280 --> 01:03:09,000
Speaker 2: be a lot of things. So tying it to something

1114
01:03:09,080 --> 01:03:12,440
Speaker 2: that is going to be stable, the idea is to

1115
01:03:12,480 --> 01:03:15,680
Speaker 2: tie as much capital as something stable as possible.

1116
01:03:16,080 --> 01:03:19,720
Speaker 1: I just invested into a company that's doing the baggage claim.

1117
01:03:20,280 --> 01:03:22,440
Speaker 1: You know, there's always going to be baggage and luggage

1118
01:03:22,440 --> 01:03:24,760
Speaker 1: at the airport, right That is going to grow no

1119
01:03:24,800 --> 01:03:25,920
Speaker 1: matter what exactly.

1120
01:03:26,400 --> 01:03:30,040
Speaker 2: Also, there's always going to be a market for nursing homes.

1121
01:03:30,640 --> 01:03:34,040
Speaker 2: There's always going to be a market for funeral homes.

1122
01:03:34,320 --> 01:03:38,960
Speaker 2: There are certain things that you can bank on just

1123
01:03:39,040 --> 01:03:41,600
Speaker 2: by life itself that there's going to be a need

1124
01:03:41,640 --> 01:03:44,720
Speaker 2: for it and anchoring your capital, especially if you're a

1125
01:03:44,720 --> 01:03:47,920
Speaker 2: little squeamish to something that you know there's going to

1126
01:03:47,960 --> 01:03:50,760
Speaker 2: be a demand and a customer for. There's no way

1127
01:03:50,840 --> 01:03:53,720
Speaker 2: we're not I'm not going to the hospital. I'm not

1128
01:03:53,800 --> 01:03:55,800
Speaker 2: going to the more go. Yeah, you're going to the

1129
01:03:55,880 --> 01:03:58,880
Speaker 2: more at some points you're going to the more and

1130
01:03:59,040 --> 01:04:01,960
Speaker 2: turn your money to things that are stable and fixed

1131
01:04:02,040 --> 01:04:05,000
Speaker 2: like that. Give me a little bit of comfort, a

1132
01:04:05,000 --> 01:04:06,200
Speaker 2: little bit more comfort.

1133
01:04:06,480 --> 01:04:08,800
Speaker 1: You have any investments for the World Cup coming this year?

1134
01:04:09,120 --> 01:04:14,880
Speaker 2: No, especially now, I'm a little uncertain about the World

1135
01:04:14,960 --> 01:04:18,040
Speaker 2: Cup and who is coming. I'm looking out the wonder

1136
01:04:18,480 --> 01:04:21,880
Speaker 2: as many as cancelations as we're talking about. I'm waiting

1137
01:04:21,920 --> 01:04:24,880
Speaker 2: for those cancelations to come back, and hopefully they will

1138
01:04:25,360 --> 01:04:27,600
Speaker 2: and we will have the privilege of hosting the World

1139
01:04:27,680 --> 01:04:31,600
Speaker 2: Cup and a fashion that would be absolutely amazing. I

1140
01:04:31,640 --> 01:04:36,520
Speaker 2: do know that Dallas is a wonderful place to have it.

1141
01:04:36,960 --> 01:04:39,960
Speaker 2: Texas is a wonderful state to have it in. There

1142
01:04:40,000 --> 01:04:44,520
Speaker 2: are no state taxes here. The state government has bent

1143
01:04:44,600 --> 01:04:48,240
Speaker 2: over backwards to make it feasible. Cities fight for the

1144
01:04:48,280 --> 01:04:52,000
Speaker 2: opportunity to do the World Cup. I am hoping that

1145
01:04:52,120 --> 01:04:57,800
Speaker 2: our focus on politics doesn't destroy our opportunities to do

1146
01:04:57,880 --> 01:05:01,080
Speaker 2: business in other areas and places for the benefit of

1147
01:05:01,200 --> 01:05:04,000
Speaker 2: everybody rather than the benefit of the few.

1148
01:05:04,760 --> 01:05:07,840
Speaker 1: Same. So many small businesses will do so well if

1149
01:05:07,840 --> 01:05:10,200
Speaker 1: we get the money to come in for the World Cup. Yeah,

1150
01:05:10,320 --> 01:05:13,160
Speaker 1: it'll help the whole non whole North America.

1151
01:05:13,280 --> 01:05:17,240
Speaker 2: Yeah, which means more taxes, which means more investments, which

1152
01:05:17,280 --> 01:05:20,800
Speaker 2: means more customers, which means more car sales, which means

1153
01:05:20,840 --> 01:05:24,080
Speaker 2: more houses built. I mean, it's going to circulate. It's

1154
01:05:24,080 --> 01:05:26,439
Speaker 2: not like they're going to go all stuffed up under

1155
01:05:26,440 --> 01:05:29,840
Speaker 2: their mattress and leave it there. It's going to circulate,

1156
01:05:30,120 --> 01:05:34,560
Speaker 2: and it's going to circulate more amongst middle class people

1157
01:05:35,360 --> 01:05:38,200
Speaker 2: and poor people than it would amongst wealthy people because

1158
01:05:38,240 --> 01:05:40,680
Speaker 2: wealthy people don't have to spend it. They already got

1159
01:05:40,680 --> 01:05:43,760
Speaker 2: what they want. So we need the money to trickle

1160
01:05:43,840 --> 01:05:46,960
Speaker 2: down into the hands of people who have dreams and

1161
01:05:47,000 --> 01:05:50,600
Speaker 2: aspirations and kids in college and so forth and so on.

1162
01:05:50,760 --> 01:05:54,120
Speaker 2: Those are the people who really need the capital, who

1163
01:05:54,120 --> 01:05:56,960
Speaker 2: are going to put the money to work and let

1164
01:05:57,000 --> 01:06:00,400
Speaker 2: the money work for you rather than you work for it.

1165
01:06:01,040 --> 01:06:04,760
Speaker 2: Meil Robinson's advice to people was the younger people need

1166
01:06:04,840 --> 01:06:08,400
Speaker 2: to stop spending money on bleeding and things that don't

1167
01:06:08,440 --> 01:06:13,200
Speaker 2: retain their value, things that depreciate rather than things that appreciate.

1168
01:06:13,400 --> 01:06:16,000
Speaker 2: I'm paraphrasing the name that she used for it. I

1169
01:06:16,000 --> 01:06:20,840
Speaker 2: think it's better for me to use another name for it,

1170
01:06:20,880 --> 01:06:24,200
Speaker 2: but it means the same thing. Do you think that

1171
01:06:24,360 --> 01:06:27,560
Speaker 2: we're spending more that young people, now I'm not weed

1172
01:06:27,680 --> 01:06:31,840
Speaker 2: not anymore, are spending more money in things that depreciate

1173
01:06:31,960 --> 01:06:35,360
Speaker 2: than appreciate. And how do we teach them to value

1174
01:06:35,840 --> 01:06:37,160
Speaker 2: appreciating assets.

1175
01:06:37,840 --> 01:06:40,840
Speaker 1: Yes, young people need to stop spending money on stupid duff.

1176
01:06:41,160 --> 01:06:41,840
Speaker 2: Yeah.

1177
01:06:41,920 --> 01:06:45,000
Speaker 1: And the thing is I was listening to this guy

1178
01:06:45,040 --> 01:06:46,920
Speaker 1: and he was saying the way to build wealth is

1179
01:06:46,960 --> 01:06:50,800
Speaker 1: one lower spend, lowerer cost of living, and then to invest.

1180
01:06:51,720 --> 01:06:54,600
Speaker 1: What's happening is they're not lowering their cost of spend.

1181
01:06:54,640 --> 01:06:57,400
Speaker 1: They're spending it on all kind of crazy stuff, and

1182
01:06:57,440 --> 01:06:59,680
Speaker 1: then they're not investing it. So then they get to

1183
01:06:59,720 --> 01:07:03,720
Speaker 1: an older age and they're feeling trapped, like we were

1184
01:07:03,720 --> 01:07:06,600
Speaker 1: talking about trapped that word trapped by their paycheck can't

1185
01:07:06,840 --> 01:07:09,880
Speaker 1: actually move around. When if they had a little bit extra,

1186
01:07:10,080 --> 01:07:13,720
Speaker 1: it would come from spending less and come from investing

1187
01:07:13,720 --> 01:07:16,760
Speaker 1: in things that appreciate. Then they can actually have more

1188
01:07:16,760 --> 01:07:19,640
Speaker 1: options and freedom and life. That's the whole point.

1189
01:07:20,520 --> 01:07:24,040
Speaker 2: That's exactly right, which requires that you do more research

1190
01:07:24,200 --> 01:07:27,640
Speaker 2: before you spend. Say, if you do buy a house,

1191
01:07:28,680 --> 01:07:31,880
Speaker 2: you can in Dallas. It depends on where the house

1192
01:07:32,000 --> 01:07:34,920
Speaker 2: is sitting, what the school system is like, where it

1193
01:07:35,040 --> 01:07:38,920
Speaker 2: is how marketable the house is, and there are some

1194
01:07:38,960 --> 01:07:42,160
Speaker 2: things that you have to take into consideration, which means

1195
01:07:42,200 --> 01:07:45,600
Speaker 2: you have to talk to other people. And I think

1196
01:07:45,640 --> 01:07:49,360
Speaker 2: too many times young people make decisions in a vacuum

1197
01:07:49,600 --> 01:07:52,800
Speaker 2: rather than looking at the totality of what are the

1198
01:07:52,880 --> 01:07:57,000
Speaker 2: city plans, where it's the city growing, where is it going,

1199
01:07:57,240 --> 01:08:00,080
Speaker 2: Where it's the best place, Because just to buy a

1200
01:08:00,080 --> 01:08:02,640
Speaker 2: bag of dirt doesn't mean anything if you're going to

1201
01:08:02,680 --> 01:08:04,280
Speaker 2: pour it out in a place where it's not going

1202
01:08:04,360 --> 01:08:05,200
Speaker 2: to be profitable.

1203
01:08:05,360 --> 01:08:06,960
Speaker 1: And you have to learn how to take a risk

1204
01:08:07,440 --> 01:08:09,960
Speaker 1: because sometimes the best investment is not going to look

1205
01:08:10,000 --> 01:08:12,960
Speaker 1: pretty right. It's not going to be the place that's fun,

1206
01:08:13,200 --> 01:08:16,439
Speaker 1: and oftentimes the fun stuff is not going to have value.

1207
01:08:16,760 --> 01:08:19,559
Speaker 1: But to your point of places in the city, I know,

1208
01:08:19,600 --> 01:08:21,680
Speaker 1: like if we're putting money in the South Dallas, at

1209
01:08:21,680 --> 01:08:23,840
Speaker 1: one point that wasn't the place to be right, but

1210
01:08:24,760 --> 01:08:27,120
Speaker 1: it's a good investment, it's a good place to build.

1211
01:08:27,680 --> 01:08:29,439
Speaker 1: There might be a time where the stock market is

1212
01:08:29,479 --> 01:08:32,400
Speaker 1: crashing and it's going to feel like, definitely, don't do

1213
01:08:32,479 --> 01:08:35,800
Speaker 1: it, it's too risky, don't gamble. But at the same time,

1214
01:08:36,040 --> 01:08:38,840
Speaker 1: getting in at low prices, you're getting a sale so

1215
01:08:38,920 --> 01:08:40,320
Speaker 1: you got to learn how to take a risk.

1216
01:08:40,400 --> 01:08:42,360
Speaker 2: You got to learn how to take a risk, and

1217
01:08:42,439 --> 01:08:45,000
Speaker 2: you got to learn how to divide the risk so

1218
01:08:45,360 --> 01:08:48,160
Speaker 2: that you're not risking in all areas at the same time.

1219
01:08:48,960 --> 01:08:51,040
Speaker 2: So if you take a risk about the land, don't

1220
01:08:51,040 --> 01:08:53,599
Speaker 2: take one about the stocks. If you take one about

1221
01:08:53,600 --> 01:08:57,200
Speaker 2: the stocks, don't take it about the land. It's my opinion, yeah,

1222
01:08:57,360 --> 01:08:59,759
Speaker 2: because but I have a low.

1223
01:08:59,560 --> 01:09:06,000
Speaker 1: Tolerance where that comes. Like what really helps is risk management. Yes,

1224
01:09:06,280 --> 01:09:10,120
Speaker 1: like have a risk management plan. If it's diversifying, or

1225
01:09:10,160 --> 01:09:12,880
Speaker 1: if it's spending on one place and not the other

1226
01:09:12,960 --> 01:09:15,880
Speaker 1: at the same time, if it's making sure that you

1227
01:09:15,960 --> 01:09:18,519
Speaker 1: have a reward to risk ratio, just have a risk

1228
01:09:18,600 --> 01:09:20,560
Speaker 1: management plan in the beginning.

1229
01:09:20,360 --> 01:09:25,240
Speaker 2: Right, I think that's very good. And having sober friends

1230
01:09:25,760 --> 01:09:27,880
Speaker 2: who are not trying to get you to buy things

1231
01:09:27,920 --> 01:09:28,960
Speaker 2: so they can use it.

1232
01:09:29,439 --> 01:09:32,000
Speaker 1: Yes, well you know I have that that mistake already

1233
01:09:32,040 --> 01:09:32,599
Speaker 1: under the belt.

1234
01:09:32,680 --> 01:09:36,640
Speaker 2: So yeah, this has been good. I hope you've been

1235
01:09:36,720 --> 01:09:40,479
Speaker 2: doing it too. Thank you for being here. Perhaps it's pleasure.

1236
01:09:40,880 --> 01:09:43,080
Speaker 2: And so we're gonna get you some food food, and

1237
01:09:43,479 --> 01:09:46,200
Speaker 2: Joe Frank, we're gonna convert you a little by little

1238
01:09:46,240 --> 01:09:51,679
Speaker 2: oxtail and bring you on in to Nigeria all Force.

1239
01:09:52,320 --> 01:09:56,160
Speaker 1: I love oxtail, so oxtails anyway as me, I'm with

1240
01:09:56,280 --> 01:09:56,639
Speaker 1: you on.

1241
01:09:56,600 --> 01:10:00,920
Speaker 2: The ixcale Jamaican Kenyon the American. It doesn't matter to me.

1242
01:10:01,000 --> 01:10:03,600
Speaker 2: I love it all. I love you too. Thank you

1243
01:10:03,680 --> 01:10:04,280
Speaker 2: for being here.

1244
01:10:04,560 --> 01:10:06,440
Speaker 1: Thank you real pleasure, appreciate.

1245
01:10:06,800 --> 01:10:11,439
Speaker 2: I hope you got something out of your next chapter today,

1246
01:10:11,600 --> 01:10:14,519
Speaker 2: and maybe some insight and to find out that there

1247
01:10:14,560 --> 01:10:18,040
Speaker 2: are people your age that are thinking on another level.

1248
01:10:18,280 --> 01:10:20,800
Speaker 2: When you get in a room with conversations that are

1249
01:10:20,840 --> 01:10:24,479
Speaker 2: going like this, they don't be intimidated if you don't

1250
01:10:24,560 --> 01:10:28,599
Speaker 2: understand everything. Having room to grow is good for a plot,

1251
01:10:28,760 --> 01:10:32,280
Speaker 2: for a plant, and it's particularly good for a person.

1252
01:10:33,000 --> 01:10:37,640
Speaker 2: God bless you, take care, See you next time. Hey everybody,

1253
01:10:37,680 --> 01:10:39,680
Speaker 2: I want to take this time to thank you for

1254
01:10:39,800 --> 01:10:45,080
Speaker 2: watching the Next Chapter podcast. If this conversation inspired you,

1255
01:10:45,240 --> 01:10:49,599
Speaker 2: helped you reflect on an idea, or spark something new

1256
01:10:50,040 --> 01:10:54,520
Speaker 2: inside of you, make sure to like, comment and subscribe

1257
01:10:54,600 --> 01:11:01,120
Speaker 2: so you don't miss future episodes. Remember, life isn't about

1258
01:11:01,160 --> 01:11:05,479
Speaker 2: how you begin, it's about how you finished strong, So

1259
01:11:05,640 --> 01:11:11,639
Speaker 2: start your next chapter with us right here. Every week