WEBVTT - Study Hall: Make Money in Stocks with Wall Street Trapper 0:00:00.400 --> 0:00:04.280 You just realized your business needed to hire someone yesterday. 0:00:04.800 --> 0:00:09.520 How can you find amazing candidates fast? Easy? Just use Indeed. 0:00:09.960 --> 0:00:12.680 Stop struggling to get your job posts seen on other 0:00:12.760 --> 0:00:16.439 job sites. With Indeed sponsored jobs, your post jumps to 0:00:16.480 --> 0:00:19.000 the top of the page for your relevant candidates, so 0:00:19.120 --> 0:00:22.119 you can reach the people you want faster. According to 0:00:22.160 --> 0:00:26.120 Indeed data, sponsored jobs posted directly on Indeed have forty 0:00:26.120 --> 0:00:30.040 five percent more applications than non sponsored jobs. Don't wait 0:00:30.080 --> 0:00:33.519 any longer. 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So once 0:01:37.959 --> 0:01:40.200 a month, Me, Troy and the whole team is going 0:01:40.280 --> 0:01:42.480 to let you in on our personal plays, our portfolio, 0:01:42.640 --> 0:01:46.200 what we're doing, and more so all of that, we 0:01:46.240 --> 0:01:50.120 are running for a special promo code of seventy percent 0:01:50.200 --> 0:01:53.920 off for limited time only. So hed the Eyluniversity dot 0:01:53.960 --> 0:01:56.080 com right now and take advantage. 0:01:55.760 --> 0:01:57.240 Not as works, don't wait, don't hesitate it. 0:01:57.240 --> 0:01:58.840 We'll see you on the other side. 0:02:00.160 --> 0:02:05.000 My graduates from my school being forced back drop bag 0:02:05.120 --> 0:02:08.760 drop mic drop back drop drop. 0:02:18.760 --> 0:02:20.960 Stock market investing right, talk about it. 0:02:21.800 --> 0:02:27.040 What is your theory but from buying and holding and 0:02:27.280 --> 0:02:29.760 day trading, because that's kind of like the two trains 0:02:29.800 --> 0:02:31.960 of thought and investing. It was like day trading. Anybody's 0:02:31.960 --> 0:02:33.600 not familiar day trading. That's when you're actually buying a 0:02:33.639 --> 0:02:36.720 stock and you're trading it in today sometimes like within 0:02:36.760 --> 0:02:40.120 a couple of minutes, and you're getting your profits. Whereas 0:02:40.160 --> 0:02:43.320 buying hold, there's more of you're buying and you're holding 0:02:43.360 --> 0:02:45.720 long term. That long term could be six months, a year, 0:02:45.760 --> 0:02:48.320 and ten years, twenty five years, but you're not looking 0:02:48.400 --> 0:02:54.079 to make quick decisions. So what's your theory between buying 0:02:54.480 --> 0:02:56.079 long term and day trading? 0:02:56.560 --> 0:03:01.320 Alright, So with buying long term, that's where the wealth 0:03:01.400 --> 0:03:06.680 is at because when you buy a long term you're 0:03:06.760 --> 0:03:11.280 not affected by the short term activities that go on 0:03:11.320 --> 0:03:15.640 in the market, and you can't control that. So because 0:03:15.720 --> 0:03:21.200 I can't control that, I want to say I'm willing 0:03:21.240 --> 0:03:22.280 to wait that out. 0:03:23.560 --> 0:03:32.000 Right, whereas with day trading, it's a high. It's like yo, 0:03:32.600 --> 0:03:33.440 it just went up. 0:03:34.720 --> 0:03:37.960 Im about to get this bread and I'm gonna get out. 0:03:38.960 --> 0:03:41.840 But what people don't tell you about day trade and 0:03:41.880 --> 0:03:44.280 I have nothing against it because the money in it, 0:03:44.320 --> 0:03:47.520 but those capital gains taxes that come with it going 0:03:47.560 --> 0:03:52.440 to eat away at your profit. Right with stock market, 0:03:52.480 --> 0:03:56.080 With the way that I invest, my goal is to 0:03:56.120 --> 0:03:57.880 just hold it at least for a year and a day. 0:03:58.160 --> 0:04:01.320 So all right, let's talk about that capital gains for 0:04:01.440 --> 0:04:03.840 most people, it's like fifteen percent for every person. 0:04:04.080 --> 0:04:07.560 Nah, twenty twenty nine, twenty eight. 0:04:07.640 --> 0:04:10.119 Short term capital gains, Oh yeah, you go, You're gonna 0:04:10.120 --> 0:04:11.120 go with eighteen. 0:04:11.040 --> 0:04:13.760 Yeah, because long term capital game is fifteen percent. So yeah, 0:04:13.800 --> 0:04:17.040 so short term capital gains, yeah, it's higher. So capital 0:04:17.040 --> 0:04:19.240 gains is when you sell a stock, you gotta pay 0:04:19.279 --> 0:04:22.920 taxes on that. And as you said, the profit and 0:04:22.960 --> 0:04:26.320 the short term capital gains is more than long term 0:04:26.320 --> 0:04:28.279 capital gains, which is an incentive to hold it. And 0:04:28.320 --> 0:04:30.560 the long term capital gain started a year, right, right, 0:04:30.600 --> 0:04:30.960 So if. 0:04:30.880 --> 0:04:33.039 I got I bought a stock one hundred dollars, I 0:04:33.040 --> 0:04:34.560 made one hundred and fifty. I'm paying a tax on 0:04:34.560 --> 0:04:34.839 the fifth. 0:04:34.839 --> 0:04:36.080 You're gonna pay a tax on a fifty. 0:04:36.680 --> 0:04:38.640 Now, if you hold it for a year and a day, 0:04:39.160 --> 0:04:42.640 you're only gonna pay about twelve percent. If you hold 0:04:42.680 --> 0:04:46.080 it for six months, you'll pay about twenty two. So 0:04:46.120 --> 0:04:49.559 the goal is just and so the goal in building wealth, 0:04:49.640 --> 0:04:52.720 and it's simply this. It's not about how much money 0:04:52.760 --> 0:04:54.520 you make, it's about how much you keep. 0:04:54.880 --> 0:04:55.560 That's the fact. 0:04:56.360 --> 0:04:58.760 So for me, I want to keep as much as 0:04:58.839 --> 0:05:02.080 I can. And so if I got a hold it 0:05:02.160 --> 0:05:04.080 for a year and a day. I'm cool with that. 0:05:04.839 --> 0:05:07.360 I'm cool with it because I've gained equity in it. 0:05:07.480 --> 0:05:09.159 And if they're paying divid dandces, I don't got some. 0:05:09.360 --> 0:05:12.840 I don't got full quarters with the dividends. I mean 0:05:12.920 --> 0:05:16.760 my bread, I'm good. And that's the part of like 0:05:16.839 --> 0:05:18.040 trading that people don't talk about. 0:05:18.720 --> 0:05:18.880 Right. 0:05:18.960 --> 0:05:20.120 It's like you said, it's not sexy. 0:05:20.200 --> 0:05:23.440 It ain't sexy, and they want they want short term 0:05:23.480 --> 0:05:28.520 gratification without you know, being in it for the long haul, right. 0:05:28.640 --> 0:05:32.520 And the thing about it is that nothing happens overnight, nothing, 0:05:32.960 --> 0:05:35.719 and you don't. You don't build wealth overnight as well. 0:05:35.760 --> 0:05:38.840 And it's important. I always tell my climb my financial advice. 0:05:38.880 --> 0:05:40.479 I tell my clients whole time, you have to you 0:05:40.520 --> 0:05:42.520 have to diversify, Like you can't put all your eggs 0:05:42.520 --> 0:05:45.320 in any one basket. Right, You got diversified, so you 0:05:45.440 --> 0:05:49.280 might have real estate, but it doesn't. It's not healthy 0:05:49.360 --> 0:05:51.920 to just put every dollar that you have into me now, right. 0:05:51.960 --> 0:05:54.560 It does. It's common sense for a lot of different reasons. 0:05:55.080 --> 0:05:59.160 But stocks is a key wealth building tool. It should 0:05:59.240 --> 0:06:01.640 definitely be part of somebody. Most people are invested in 0:06:01.720 --> 0:06:03.440 stock market without them even knowing it because of the 0:06:03.520 --> 0:06:06.880 four one K plan. So dividends, right, because this is 0:06:06.920 --> 0:06:09.320 something that we haven't covered, and a lot of people 0:06:09.360 --> 0:06:11.560 have heard of dividends, but they don't fully understand what 0:06:11.640 --> 0:06:12.279 a dividend is. 0:06:12.320 --> 0:06:13.480 So what is a dividend? 0:06:13.640 --> 0:06:15.360 You said, that's one of the strategies you use. Yeah, 0:06:15.440 --> 0:06:16.360 I love them stocks with it. 0:06:16.400 --> 0:06:20.040 Yeah, So what happens is dividends are a portion of 0:06:20.080 --> 0:06:23.920 the profit that companies pay to people who are invested 0:06:23.960 --> 0:06:27.359 in a business, not the revenue, but the profit. So 0:06:27.400 --> 0:06:30.240 if I have a business that brings in ten thousand 0:06:30.279 --> 0:06:35.400 dollars a month and I profit five thousand dollars a month, 0:06:36.000 --> 0:06:39.039 then out of that five thousand dollars, I'll take a 0:06:39.080 --> 0:06:42.440 percentage of that, which is called the dividend yield, and 0:06:42.480 --> 0:06:46.560 I'll pay it to my investors as a part of 0:06:46.640 --> 0:06:49.320 saying hey, thank you for investing in my business. 0:06:49.360 --> 0:06:52.080 Is it paid equally or it obviously, depending on how 0:06:52.120 --> 0:06:52.960 many shares you have, you. 0:06:52.920 --> 0:06:56.160 Get more not. Yeah, well the dividend is the same. 0:06:56.279 --> 0:06:58.599 So if I pay fifty cent a ship, everybody, which 0:06:58.640 --> 0:07:03.560 is two dollars a year, everybody gets that depending on 0:07:03.640 --> 0:07:06.000 how much you have. If you got five, I have ten, 0:07:06.040 --> 0:07:08.320 you have fifteen, then we will all get a different amount, 0:07:08.360 --> 0:07:11.640 but the underlying asset value is the same. 0:07:11.800 --> 0:07:14.080 So what are what are what are some top companies 0:07:14.080 --> 0:07:15.440 as far as dividends these days? 0:07:15.440 --> 0:07:17.440 What are they at? 0:07:17.560 --> 0:07:25.320 And T pays six that's major now they So this 0:07:25.360 --> 0:07:28.400 is a dupe part. So we talk about real estate, right, 0:07:29.760 --> 0:07:32.800 the real estate aspect of the stock market, which is 0:07:32.840 --> 0:07:37.280 called real estate investment trust, which is a rip, which 0:07:37.400 --> 0:07:42.520 is saying I can own Walmart as a business, and 0:07:42.600 --> 0:07:45.200 I can own the people who Walmart pay rent to 0:07:46.760 --> 0:07:49.240 because they don't own the building, they just own the name. 0:07:50.680 --> 0:07:55.800 Like Amazon has a warehouse, I can own Amazon, and 0:07:55.880 --> 0:07:59.960 I can also own the warehouse who pay who Amazon 0:08:00.240 --> 0:08:05.120 pays the rent to? Rates pay higher dividends. We talking 0:08:05.160 --> 0:08:12.360 twelve percent, nine percent, seven percent, So individual stocks, uh 0:08:13.080 --> 0:08:20.520 AT and T Macy's centuryly, Now that's a bad business, 0:08:21.120 --> 0:08:22.880 but they pay a high dividend. 0:08:23.160 --> 0:08:25.040 That's what it's called a dividend trap. We're not gonna 0:08:25.040 --> 0:08:25.440 get into that. 0:08:26.160 --> 0:08:28.800 How they disperse quarterly, how they disperse. 0:08:28.600 --> 0:08:29.840 So every business is different. 0:08:29.920 --> 0:08:32.440 So with a lot of the rates they come out, 0:08:33.760 --> 0:08:35.640 some of them pay monthly and some Remember I was 0:08:35.679 --> 0:08:37.439 telling you that I have businesses. 0:08:37.760 --> 0:08:39.760 One of my businesses is Apple Reality. 0:08:40.120 --> 0:08:45.240 They own one hundred and twenty eight Schratons and Hilton's 0:08:45.280 --> 0:08:49.920 and two hundred and something Marriotts. They're not going out 0:08:49.920 --> 0:08:52.640 of business in the time zoom. But they pay me, 0:08:52.760 --> 0:08:55.040 I think, at a nine percent rate on their rates 0:08:55.240 --> 0:08:58.200 and they pay that monthly. So every month they're paying me. 0:08:59.120 --> 0:09:01.400 So that's not sending the money that you have invested. 0:09:01.480 --> 0:09:04.439 No, that's nine percent of the stock price. Okay, right, 0:09:04.480 --> 0:09:06.959 so that's all the dividend yield is. So a dividend 0:09:07.040 --> 0:09:09.840 yield is this. If the stock price is one hundred 0:09:09.840 --> 0:09:13.400 dollars and a dividend yield is five percent, then your 0:09:13.480 --> 0:09:16.000 dividend is five percent of that one hundred dollars. 0:09:16.240 --> 0:09:18.880 That's what you're getting paid. Okay, that makes sense. 0:09:19.360 --> 0:09:22.840 It's passive, superpass passive, but you do have to have 0:09:22.960 --> 0:09:25.120 large amount for it to It's the truth. But you 0:09:25.160 --> 0:09:30.680 were saying that you have to start looking at it like, okay, 0:09:30.720 --> 0:09:31.720 just to pay my cell phone? 0:09:32.280 --> 0:09:32.720 Your freedom? 0:09:33.160 --> 0:09:36.199 Can you talk about at and T but you So 0:09:36.520 --> 0:09:40.959 what happened to me was I started asking myself, how. 0:09:40.760 --> 0:09:44.000 Do I buy back my freedom? Right? Like, how do 0:09:44.080 --> 0:09:44.880 I buy it back? 0:09:44.920 --> 0:09:48.720 That's right, because it's not given to you, just like 0:09:49.040 --> 0:09:51.280 you know, shadow slavery, Like I'm not going to give 0:09:51.280 --> 0:09:52.800 it to you. You got to buy it back. You gotta 0:09:52.800 --> 0:09:55.320 fight for it. So I was like, how do I 0:09:55.400 --> 0:10:00.240 buy back my freedom with the stock market? Because you 0:10:00.280 --> 0:10:03.240 can't save to investigate it back, right, we know that 0:10:03.440 --> 0:10:05.240 you can't work a bunch of hours to get it back. 0:10:06.000 --> 0:10:11.160 So the next best thing for me was dividends. So 0:10:11.640 --> 0:10:15.200 I was like, Okay, what do I use every day? 0:10:16.200 --> 0:10:21.839 My phone bill? At and T and I have Apple product. 0:10:22.000 --> 0:10:25.080 So because AT and T pays a five percent six 0:10:25.120 --> 0:10:27.839 percent dividend year, I was like, okay, I need this 0:10:28.080 --> 0:10:34.840 many shares of this business to pay off my phone bill. 0:10:35.520 --> 0:10:36.640 Every four months. 0:10:37.320 --> 0:10:42.160 Because AT and T pays quarterly, which is every three months, 0:10:42.960 --> 0:10:46.920 Disney pays semi annually, which is twice a year, and 0:10:46.960 --> 0:10:49.000 then you have some businesses that pay every month. 0:10:49.800 --> 0:10:52.280 Right, So I was like, Okay, if I can get 0:10:52.320 --> 0:10:54.480 AT and T to pay my. 0:10:54.520 --> 0:11:01.600 Phone bill through their dividends full times a year, then 0:11:01.640 --> 0:11:04.320 I have essentially bought back my freedom because I no 0:11:04.400 --> 0:11:06.360 longer have to work to pay for that phone bill. 0:11:06.960 --> 0:11:09.840 AT and T paying for me and. 0:11:09.800 --> 0:11:13.400 So you can do that which your if you're in Georgia, 0:11:14.400 --> 0:11:17.959 you can use Southern Company, which is another great dividend business. 0:11:18.520 --> 0:11:20.480 How much is your phone bill and your light buil 0:11:21.120 --> 0:11:24.240 eighty one hundred dollars? They pay like a three four 0:11:24.280 --> 0:11:29.360 percent dividend. Figure out how much the dividend is per quarter, 0:11:30.720 --> 0:11:34.080 how many shares your need of that business, and then. 0:11:34.000 --> 0:11:35.120 Let that pay your light bail. 0:11:35.160 --> 0:11:37.480 So if you can give your dividends from a business 0:11:37.600 --> 0:11:39.960 to pay your light buil and your phone bill, you've 0:11:40.000 --> 0:11:42.360 bought back some of your freedom because now you can 0:11:42.400 --> 0:11:45.280 take that money and invest it and do something else 0:11:45.360 --> 0:11:49.880 with it. That's optimizing your money. The money is just 0:11:49.920 --> 0:11:52.319 a tool. We know that much. So if we can 0:11:52.400 --> 0:11:54.480 use the tool to do that it's supposed to do, 0:11:55.520 --> 0:11:57.600 then we get maximum value for it. 0:11:57.640 --> 0:12:00.320 And that's so once you fully understand that thing, you 0:12:00.320 --> 0:12:04.760 start to understand that. It's like Spanish, right, So I 0:12:04.800 --> 0:12:06.640 don't know how mean Spanish people in New Orleans, but 0:12:06.760 --> 0:12:10.600 they got half of like seventy percent of New York 0:12:10.720 --> 0:12:14.080 is Spanish. Maybe not fifty percent, Yeah, fifty percent of 0:12:14.080 --> 0:12:17.240 New York is Spanish. So I say, I have to 0:12:17.280 --> 0:12:20.720 say when you're around Spanish enough, you start to understand 0:12:20.720 --> 0:12:21.959 it a little bit better. Maybe you might not be 0:12:22.040 --> 0:12:23.280 able to speak it, but you can kind of have 0:12:23.320 --> 0:12:26.520 a general understanding of Right, the same thing with investing. 0:12:27.000 --> 0:12:30.240 When you're around the language of investing, it starts to 0:12:30.240 --> 0:12:33.880 make sense and you realize that they're all kind of similar. 0:12:34.000 --> 0:12:37.200 It's just like actually when you learn foreign languages, like 0:12:37.880 --> 0:12:40.679 Spanish is similar to French. They all come from like 0:12:40.720 --> 0:12:43.600 a Dane. Yeah, they're all kind of similar. I forget 0:12:43.600 --> 0:12:46.480 where they actually the route came from. But long story 0:12:46.520 --> 0:12:49.319 short of it is that what you just explained was 0:12:49.360 --> 0:12:52.640 the same theory that dj MVY explained to us. He 0:12:52.679 --> 0:12:55.520 says that he doesn't buy any liability until he has 0:12:55.559 --> 0:12:57.400 an asset to pay for. His thing is real estate, 0:12:57.480 --> 0:12:59.679 So he buys a home and now he has a 0:12:59.720 --> 0:13:06.080 home to actually pay rental for his Lamborghini or something 0:13:06.160 --> 0:13:07.960 like that. Like what I'm saying, So you just bring 0:13:07.960 --> 0:13:08.880 it down a small level. 0:13:09.120 --> 0:13:11.560 But because I mean, that's key though, right if you 0:13:11.559 --> 0:13:12.840 break it out a small level like. 0:13:12.720 --> 0:13:14.920 Well, yeah, well and then and then also people have 0:13:14.960 --> 0:13:15.600 to understand too. 0:13:15.679 --> 0:13:17.600 Is that so people might say, okay, well I got 0:13:17.640 --> 0:13:20.199 to put two thousand dollars into a stock to get 0:13:20.400 --> 0:13:23.720 one hundred dollars diffidend, it's not worth it. But the 0:13:23.800 --> 0:13:26.160 thing about it is that it's not like you're paying 0:13:26.200 --> 0:13:28.440 for something. You're investing, so that two thousand is going 0:13:28.520 --> 0:13:30.920 to grow over the course of time while you're getting 0:13:30.960 --> 0:13:33.520 your diffidends. So it's not like you just putting your 0:13:33.520 --> 0:13:35.640 money into never ever Land. It's actually going to an 0:13:35.679 --> 0:13:38.480 investment that will probably gain value over the course of time. 0:13:38.640 --> 0:13:42.040 But in the meantime, you're actually gaining income that you 0:13:42.120 --> 0:13:45.000 can use via the dividend. And now you can actually 0:13:45.080 --> 0:13:46.920 use that to support your lifestyle because, like you said, 0:13:47.400 --> 0:13:51.240 you got to find a way to actually make money 0:13:51.520 --> 0:13:53.480 while you're sleep. That's what Warren Buffet said, right. He 0:13:53.480 --> 0:13:55.719 said it said if you don't make money while you're 0:13:55.720 --> 0:14:00.480 sleeping works. So by doing that, now you're actually Okay, 0:14:00.520 --> 0:14:02.320 Now I can, like you said, you can focus on Okay, 0:14:02.320 --> 0:14:04.360 now I did that. Now I gotta do something to 0:14:04.400 --> 0:14:06.679 pay all right, I got to pay my mortgage, and 0:14:06.679 --> 0:14:08.200 I gotta do something to pay my card bill. And 0:14:08.240 --> 0:14:12.200 then before you know it, you're not actually paying anything yourself. 0:14:12.360 --> 0:14:15.160 It's all being paid for you, which leaves you more 0:14:15.200 --> 0:14:18.400 money because that two hundred that now you can actually 0:14:18.760 --> 0:14:20.760 reinvest and do other things and just kind of like 0:14:20.760 --> 0:14:21.480 a domino. 0:14:21.240 --> 0:14:23.280 Fest like Lord said, but it's like yo, I treat 0:14:23.360 --> 0:14:24.280 money like little soldiers. 0:14:24.440 --> 0:14:25.680 They have to go work, listen. 0:14:26.280 --> 0:14:32.680 But also also he's forgetting something that's major, the ownership. 0:14:34.080 --> 0:14:35.280 Yep, you feel me. 0:14:35.840 --> 0:14:38.760 So while your money is working for you through the dividends, 0:14:39.440 --> 0:14:45.040 your ownership, your equity is also increasing. So that's how 0:14:45.040 --> 0:14:47.080 you like you leverage the game with that. 0:14:47.520 --> 0:14:49.480 And that's something that people don't understand either. It's like 0:14:49.840 --> 0:14:52.240 people's like, well, everybody's not an entrepreneur. I don't want 0:14:52.280 --> 0:14:54.440 to own a business. There's a lot that comes with 0:14:54.480 --> 0:14:56.280 owning a business. But there's more than one way to 0:14:56.320 --> 0:14:59.440 own a business. If you buy a stock, you're an owner, 0:14:59.520 --> 0:15:03.120 and that come that's one that's probably the easiest way 0:15:03.560 --> 0:15:06.080 to own a business. Now you're not going to be 0:15:07.000 --> 0:15:09.960 a majority owner, but it doesn't matter, it doesn't you're 0:15:10.000 --> 0:15:11.120 still an owner. 0:15:11.440 --> 0:15:12.040 Something better. 0:15:12.840 --> 0:15:18.080 So Warren Buffett owns six percent of Coca Cola, right, 0:15:18.520 --> 0:15:22.120 so he's still not a majority owner, but he still 0:15:22.200 --> 0:15:25.360 has say sol and this is the one thing about 0:15:25.360 --> 0:15:28.960 the stock market that I love. I still can vote 0:15:29.520 --> 0:15:32.400 on every business that I own, and they have to 0:15:32.400 --> 0:15:36.280 acknowledge me, like, I literally bought three shells of brickshot 0:15:36.360 --> 0:15:38.080 have the way B. Let's make sure I say. 0:15:37.960 --> 0:15:38.240 That, B. 0:15:39.480 --> 0:15:42.600 What's what's the add hundred somethings. 0:15:42.560 --> 0:15:45.200 Go up to one hundred. It's three hundred and some thousand. 0:15:45.840 --> 0:15:47.720 There's a difference. It's a big difference. So let me 0:15:47.760 --> 0:15:49.440 say because I don't know nobody to be like, hey man, 0:15:49.480 --> 0:15:51.160 you gotta you ain't got no man. 0:15:51.240 --> 0:15:51.800 I heard. 0:15:53.560 --> 0:15:58.640 Feel it. So I literally bought three shares of Berkshaw 0:15:58.760 --> 0:15:59.560 b which is. 0:15:59.560 --> 0:16:01.400 Which is Warren Buffert's companybody. 0:16:01.480 --> 0:16:03.920 Yes, I bought my daughter. That's another thing. 0:16:04.000 --> 0:16:06.400 So at three years old, my daughter has five thousand 0:16:06.440 --> 0:16:07.280 dollars invested in the stock. 0:16:07.320 --> 0:16:08.920 Oh I want to talk about that? You yeah? Finished. 0:16:09.840 --> 0:16:15.320 But I bought three shares of Birkshaw Beat so I 0:16:15.360 --> 0:16:16.160 could go to. 0:16:16.880 --> 0:16:20.680 The Warren Buffett annual meeting and I had right to 0:16:20.760 --> 0:16:22.320 vote on anything in Omaha. 0:16:22.600 --> 0:16:26.320 Yeah, I went to NIPS. That's when everything happened. 0:16:26.360 --> 0:16:28.280 I'm going next year for show for Shure, and the 0:16:28.280 --> 0:16:30.080 only way you can go is if you own at 0:16:30.160 --> 0:16:33.400 least one share, right, So I was like, okay, cool, 0:16:33.720 --> 0:16:35.640 and you actually get to talk to this man. 0:16:35.960 --> 0:16:37.680 So I'm glad you said that about your daughter because 0:16:37.720 --> 0:16:41.040 speaking of Nip. Actually, when we I posted about Nip, 0:16:41.240 --> 0:16:44.920 you commented on that post for sure about and you 0:16:44.960 --> 0:16:47.160 were talking about a custodian account for your daughter. So 0:16:47.200 --> 0:16:49.440 I had put a post up that, like, if you 0:16:49.520 --> 0:16:53.520 celebrate Christmas or for kids' birthdays, a suggestion is that 0:16:53.640 --> 0:16:56.120 you know, if you're going to spend two hundred dollars 0:16:56.120 --> 0:16:58.040 on gifts, maybe spend one hundred dollars on the gifts 0:16:58.040 --> 0:16:59.760 and one hundred dollars on an anostment. 0:16:59.800 --> 0:17:01.280 Right, You like, well, how do I do that? 0:17:01.360 --> 0:17:03.200 So I walk you through that. 0:17:03.280 --> 0:17:05.040 Yeah, exactly. 0:17:05.400 --> 0:17:11.000 So it's basically, I don't buy my daughter toys at all, 0:17:11.680 --> 0:17:14.160 I told her mom, And I'm like, listen, I'll buy clothes, 0:17:14.160 --> 0:17:18.240 i'll buy food, I'll buy necessities, but everything else I'm 0:17:18.240 --> 0:17:23.240 buying stocks. So just walking it's called a UGMA account, 0:17:23.800 --> 0:17:26.679 it's a custodial com I use TDM ror Trade and 0:17:26.720 --> 0:17:28.520 all you're doing is is just like opening up a 0:17:28.520 --> 0:17:31.720 bank account, and you'll just add your kid to it. 0:17:32.359 --> 0:17:36.679 And what happens is you have actual control of the 0:17:36.760 --> 0:17:41.720 account until the kid is eighteen. Once the kid makes eighteen, 0:17:43.040 --> 0:17:47.520 then they have control. My thing is simple, and so 0:17:47.560 --> 0:17:50.240 this is how we shift the dynamics, Like that's this 0:17:50.320 --> 0:17:52.000 ownership stuff is real powerful to me. 0:17:53.200 --> 0:17:57.520 My daughter is three and I invest money for her. 0:17:57.800 --> 0:18:01.720 Monthly weekly right Right now, my daughter at three can 0:18:01.720 --> 0:18:03.399 tell you what assets and liabilities are. 0:18:03.440 --> 0:18:04.720 These is a conversation that we have. 0:18:05.160 --> 0:18:08.200 Right she knows I said what dividends come from, She'll say, 0:18:08.200 --> 0:18:09.320 dividends come from shells. 0:18:09.440 --> 0:18:10.120 She'll say that. 0:18:10.960 --> 0:18:16.879 By the time she's eighteen, she'll already be six figures 0:18:17.160 --> 0:18:18.000 her own network. 0:18:19.000 --> 0:18:23.200 That's powerful. That's a whole nother dynamic. 0:18:23.280 --> 0:18:27.880 We've put her in position to have privileged opportunities. 0:18:28.440 --> 0:18:28.720 Right. 0:18:29.760 --> 0:18:35.800 Also, we've now established to her the importance of ownership. 0:18:37.520 --> 0:18:37.760 Right. 0:18:37.840 --> 0:18:39.399 So what happened with us when we was kids, I 0:18:39.400 --> 0:18:41.680 don't know about y'all. When I was kids, money was 0:18:41.720 --> 0:18:43.960 always scarce, like we ain't gonna money for that. 0:18:44.000 --> 0:18:47.520 We got bills, right, you know. 0:18:47.800 --> 0:18:51.200 But now at three, she can talk to me about 0:18:51.200 --> 0:18:51.879 Disney stoff. 0:18:53.119 --> 0:18:55.000 You know what I'm saying. So for me, that's what 0:18:55.080 --> 0:18:55.280 I do. 0:18:55.400 --> 0:18:57.840 Everything we do right now, her account, I think she 0:18:57.880 --> 0:19:00.199 had like fifty five hundred because I've been buying these 0:19:00.200 --> 0:19:02.160 weed stocks since they've been on sale and I bought 0:19:02.160 --> 0:19:02.600 some for her. 0:19:03.680 --> 0:19:04.439 Can it be growth? 0:19:05.240 --> 0:19:06.920 What was the name of the account at the bank, 0:19:07.800 --> 0:19:10.720 the type of account, It's called a custodial account, but 0:19:10.760 --> 0:19:12.480 when you look it up on the TD Amelitrade, it's 0:19:12.480 --> 0:19:13.840 going to be called U G and me. 0:19:14.080 --> 0:19:16.120 Can it go through? I know you said TD Melitarde, 0:19:16.119 --> 0:19:17.800 but I'll do it. Is it all through other banks 0:19:17.800 --> 0:19:18.160 as well? 0:19:18.280 --> 0:19:18.480 Well? 0:19:18.600 --> 0:19:19.200 I went through. 0:19:19.320 --> 0:19:24.320 You can go through Fidelity, Charles Swab most of them have. 0:19:24.480 --> 0:19:28.360 Yeah, they have account. They have five twenty nine, which 0:19:28.440 --> 0:19:30.360 is a college savings plan a couple of different ways. 0:19:30.520 --> 0:19:32.600 I don't like the five twenty nine. Why not because 0:19:32.640 --> 0:19:35.480 it's boxed in. That's true, it's boxed and just you 0:19:35.600 --> 0:19:36.440 have to use vocal. 0:19:36.680 --> 0:19:38.800 Well, they actually changed it with the new tax law 0:19:38.800 --> 0:19:40.600 and now you canay any form of education. 0:19:40.840 --> 0:19:43.480 Okay, it don't have to be used. Yeah yeah, yeah, yeah, 0:19:43.600 --> 0:19:44.400 you get penalized. 0:19:44.520 --> 0:19:48.040 And so with the with the custodio account, she used 0:19:48.040 --> 0:19:50.480 for whatever she wants at eighteen. 0:19:50.720 --> 0:19:52.520 So that's why it's good for you. Now you can 0:19:52.520 --> 0:19:53.480 build that conversation. 0:19:54.080 --> 0:19:55.560 That's why it's good for us to learn how to 0:19:55.600 --> 0:19:59.040 invest because our kids are going to do what they 0:19:59.040 --> 0:20:01.920 see us doing. That's just a natural fact. We all 0:20:01.960 --> 0:20:03.560 are creatures of our environment. 0:20:03.840 --> 0:20:05.240