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Speaker 1: Welcome to How the Money. I'm Joel and I'm Matt,

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Speaker 1: and today we're discussing automating your money and negotiating like

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Speaker 1: a Boss with re Meet Sadie. Yeah, Joel Remitte. Sadie

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Speaker 1: is the bestselling author of the book I Will Teach

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Speaker 1: You to Be Rich. He started his website by the

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Speaker 1: same name while he was an undergrad student at Stanford.

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Speaker 1: He was studying psychology at the time. Remat has written

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Speaker 1: about personal finance for The Wall Street Journal in The

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Speaker 1: New York Times. Honestly, it would be quicker for us

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Speaker 1: to summarize what re Meat hasn't done than to exhaust

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Speaker 1: everything that he's been able to accomplish so far. And

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Speaker 1: make sure to stick around until the end of the

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Speaker 1: episode as well, so that you can learn how to

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Speaker 1: enter to win one of the few copies of re

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Speaker 1: Meat's book that we're gonna give away. So Remat, thanks

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Speaker 1: so much for joining us on the show. My pleasure.

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Speaker 1: Thanks for having me. Yeah me. Normally on the show,

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Speaker 1: we drink a craft beer every episode, and this is

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Speaker 1: the first time we haven't done that. We're actually recording

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Speaker 1: with you in the morning, so because we're not alcoholics,

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Speaker 1: for drinking a cold coffee. But our first question to

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Speaker 1: everyone is we drink beer because it represents something that

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Speaker 1: we value in the here and now, we're willing to

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Speaker 1: spend a lot of money on good beer. What's your splurge?

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Speaker 1: What's your craft beer equivalent? Oh? I love that we

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Speaker 1: are starting off with what we love spending money on

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Speaker 1: instead of the most common topic on personal finance, which

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Speaker 1: is all the things you can't do with your money.

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Speaker 1: I love talking about what you can do with your money,

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Speaker 1: So this is an awesome question. I have a lot

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Speaker 1: of things that I love spending money on. One of

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Speaker 1: them is travel. And for example, when we went on

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Speaker 1: our honeymoon last year my wife and I got married,

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Speaker 1: we went on a six week honeymoon and we decided

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Speaker 1: to take our parents with us to the first stop,

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Speaker 1: which was Italy, and that was pretty magical to have

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Speaker 1: that experience and to create those memories with them. So travel,

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Speaker 1: I love of spending money on clothes. And I also

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Speaker 1: have things that I just don't care about spending money on,

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Speaker 1: Like I've lived in the same apartment renting it for

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Speaker 1: ten years. I love it, it's great. I also don't

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Speaker 1: have a TV, and I hardly ever eat out. So

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Speaker 1: I do believe, just like you guys said with craft beer,

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Speaker 1: that you should spend extravagantly, extravagantly on the things you love,

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Speaker 1: but cut costs mercilessly on the things you don't. Yeah,

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Speaker 1: what's what's at the core of that realm is the

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Speaker 1: fact that you're just being intentional with your money, right, Like,

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Speaker 1: obviously you've put a lot of thought and energy behind

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Speaker 1: what you spend your money on, and so yeah, because

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Speaker 1: of that, you're you're spending wisely for for you as

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Speaker 1: an individual. Yeah. Yeah, And I think everyone has their

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Speaker 1: own rich life, and yours is definitely different than mine,

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Speaker 1: and that's okay. So when you hear this advice about

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Speaker 1: don't spend money on this and that, it's just kind

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Speaker 1: of disingenuous and ridiculous because I have my own money rules.

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Speaker 1: For example, if I'm going to fly over four and

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Speaker 1: a half hours, I'm going to go business class. Well,

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Speaker 1: if you can't afford that, it makes no sense. But

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Speaker 1: also if you just don't care about that, that makes

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Speaker 1: no sense. But for some people they have different money rules.

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Speaker 1: The key thing I would say is come up with

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Speaker 1: those money rules for yourself. Don't let society tell you

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Speaker 1: what you can and can't do. So for me, let's

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Speaker 1: talk about your book. You wrote a crazy popular book

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Speaker 1: back in two thousand nine, and then you made the

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Speaker 1: choice to go ahead and update it and rerelease it

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Speaker 1: this year. So what did you really want to make

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Speaker 1: a point to include this time around that wasn't part

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Speaker 1: of the original release. Well, a lot had changed in

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Speaker 1: ten years. If I look externally, there are new accounts

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Speaker 1: out there that did not exist ten years ago. For example,

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Speaker 1: I use a different credit card now. They're also new

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Speaker 1: checking and savings accounts. There are cultural movements that didn't

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Speaker 1: exist ten years ago, like fire and robo advisors, or

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Speaker 1: new things on the block. And then internally, a lot

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Speaker 1: of things had changed in my life too. For example,

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Speaker 1: I got married and I went through a very interesting

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Speaker 1: and challenging set of discussions around love and money with

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Speaker 1: my wife, and my business had grown, so I now

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Speaker 1: think about money completely differently than I used to. So

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Speaker 1: I wanted to add all those things to the book,

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Speaker 1: and I added over eighty pages of new material so

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Speaker 1: that people could get a completely up to date and

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Speaker 1: fresh perspective on I will teach you to be Rich. Yeah,

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Speaker 1: you also included in this version of the book a

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Speaker 1: lot of great reader anecdotes, and I think that's one

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Speaker 1: of my favorite parts of this edition. So yeah, what

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Speaker 1: made you include specific stories from the people that have

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Speaker 1: read the book? And then how do you go about

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Speaker 1: gathering those? Well, the reader stories are one of my

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Speaker 1: favorite things that I put in the book. In fact,

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Speaker 1: if you turn to page one, you will see different

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Speaker 1: photos of my readers and their stories about using the

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Speaker 1: book to create their rich life. There's a guy on

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Speaker 1: there who who writes about how he and his wife,

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Speaker 1: aged thirty five and thirty six, used the book to

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Speaker 1: retire in their mid thirties and now they have an

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Speaker 1: r V that they drive all around the country. And

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Speaker 1: I love that because that is their rich life and

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Speaker 1: they used I will teach you be rich to accomplish it.

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Speaker 1: The other thing that's striking about these stories is you

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Speaker 1: realize that a rich life can actually be very diverse,

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Speaker 1: not just an RV or you know, some people want

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Speaker 1: to eat out at Michelin starred restaurants once a week,

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Speaker 1: but also the way people look, and that is amazing.

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Speaker 1: When you ask people what does rich look like? It's

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Speaker 1: so interesting. A lot of times they think that rich

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Speaker 1: is this old stereotype of Richie Rich walking around in

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Speaker 1: a tuxedo and some kind of chinchilla coat, and that's

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Speaker 1: totally ridiculous. These days, rich can be physically fit. It

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Speaker 1: can be you work six months a year from a

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Speaker 1: different location. Rich can be you travel with your parents

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Speaker 1: or your family. Rich can be so many different things.

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Speaker 1: That's why I will teach you to be rich continues

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Speaker 1: to evolve because your rich life is yours. It's not

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Speaker 1: anybody else's, It's yours. That's awesome. Also, in your book,

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Speaker 1: you mentioned, you know these different money scripts that we've

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Speaker 1: constructed in our brains over time. Can you give our

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Speaker 1: listeners an idea of what you mean by these scripts?

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Speaker 1: And then, like, what are some of the most common

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Speaker 1: examples that you see folks struggle with. We'll think about

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Speaker 1: the phrases that your parents may have off handedly mentioned

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Speaker 1: over the dinner table when you were growing up. And

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Speaker 1: I'm talking about really rewind everybody listening. Just close your

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Speaker 1: eyes for a second and think about age five a

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Speaker 1: eight h twelve what'd your parents say? Let me ask you, guys,

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Speaker 1: what phrases did you hear your parents saying about money?

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Speaker 1: Money is tight, we don't have enough, we can't afford that.

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Speaker 1: Stuff like that. M hmm. Anything else about work hard,

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Speaker 1: make a lot of money good? Those are all very

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Speaker 1: common scripts. Let's start with the first set, which are

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Speaker 1: money's tight, money doesn't grow on trees. We can't afford that,

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Speaker 1: and think about how that stays with you for the

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Speaker 1: next years. How many people listening right now have said

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Speaker 1: I can't afford that. Maybe maybe that's true, or maybe

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Speaker 1: you haven't made the choice to spend on that thing

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Speaker 1: and cut back on other things, or to earn more,

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Speaker 1: which is very possible. I show you how to do

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Speaker 1: in the book. We carry these scripts with us, the

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Speaker 1: most common ones being ones of scarcity, money doesn't grow

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Speaker 1: on trees, we can't afford that. That's not for people

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Speaker 1: like us, okay. But on the other hand, we have

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Speaker 1: different constructive scripts like work hard, make more money. That's

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Speaker 1: very interesting and actually quite rare. So I covered these

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Speaker 1: scripts and on different areas investing, people say things like

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Speaker 1: I need to be rich to start investing, when in

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Speaker 1: reality it's actually the opposite. You get rich by investing.

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Speaker 1: I also have psychological scripts for credit cards. You know,

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Speaker 1: people say things like, oh, paying fees are just the

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Speaker 1: cost of doing business, and then I'm going to be

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Speaker 1: saddled with debt until I'm in my seventies. Right. These

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Speaker 1: are scripts, their stories, their narratives we tell ourselves. And

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Speaker 1: what I realized in the first edition of the book

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Speaker 1: was I can give you the perfect techniques. I can

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Speaker 1: show you the perfect automation flow in chapter five. But

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Speaker 1: if you don't tackle your invisible scripts when it comes

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Speaker 1: to money, then none of this stuff matters. And so

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Speaker 1: you need to be able to understand the stories you've

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Speaker 1: been telling yourself. For example, anyone who makes a lot

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Speaker 1: of money has had to step on other people. If

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Speaker 1: you believe that to make money you have to become evil,

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Speaker 1: then it's no surprise you're not going to make a

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Speaker 1: lot of money. And so I want to show you

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Speaker 1: how to tackle those in the book, and then I

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Speaker 1: show you the tactics to implement and win. Yeah, you

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Speaker 1: were studying psychology when you started your blog and kind

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Speaker 1: of when you started thinking about these things. And yeah,

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Speaker 1: on the show, we've talked about how psychology is such

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Speaker 1: a big part of how we handle money and the

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Speaker 1: things that we believe about money. And so I feel

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Speaker 1: like this this is one of my favorite things that

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Speaker 1: you tackle because it is such an important component of

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Speaker 1: personal finance. So let's say we did hear some of

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Speaker 1: those things at the dinner table from our parents, or

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Speaker 1: we believe some of these things about money, like it's

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Speaker 1: scarce and it's hard to find, and I don't have

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Speaker 1: enough and I can't get enough. Well, how do you

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Speaker 1: feel like we can combat these ingrained money on truths

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Speaker 1: that we've been fed. The first thing is to recognize

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Speaker 1: them as present. You know, most people believe that things

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Speaker 1: are just the way they are and that they are

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Speaker 1: the truth. And it's interesting you discover this most commonly

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Speaker 1: when you travel to another country and you realize, oh

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Speaker 1: my god, things are really different here. Things I assumed

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Speaker 1: were universal are actually just American. And a good example

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Speaker 1: as you think about personal space. In America, we love

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Speaker 1: personal space. Oh can you please back up two ft

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Speaker 1: I'm in the line at the grocery store. Whereas in

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Speaker 1: other countries, for different reasons, including population geography, the concept

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Speaker 1: of personal space is totally different. Right, people crowd each other,

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Speaker 1: and as an American, it's easy to feel really uncomfortable

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Speaker 1: about that. But when you go to a country with

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Speaker 1: a different set of eyes and you say, hey, instead

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Speaker 1: of judging them for not being like us, let me

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Speaker 1: actually try to understand why. And I call this the

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Speaker 1: D to C principle disparagement to curiosity. Super common for

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Speaker 1: people to go abroad and be like, oh my god,

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Speaker 1: that's so horrible. Why don't they do this, Why don't

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Speaker 1: they do that? Oh my god? And I have done

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Speaker 1: that myself, right, come from a place of judgment, and

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Speaker 1: I had to correct myself. And it's taken multiple, multiple

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Speaker 1: years to say, you know what if I approached this

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Speaker 1: with a purely American perspective, and of course I'm going

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Speaker 1: to be disappointed because I'm using a different lens, But

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Speaker 1: what if I say, hey, why do they do this?

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Speaker 1: What would it look like if we actually did this

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Speaker 1: in America? Are their structural reasons? So the first step

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Speaker 1: to battling your own invisible scripts is to go from

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Speaker 1: D to C, is to actually recognize that they might

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Speaker 1: be stories. You might have been telling yourself a story

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Speaker 1: for the last thirty years. It takes that shift and

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Speaker 1: that curiosity to kind of round that corner. I'm gonna

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Speaker 1: shift a little bit now actually to talk about out

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Speaker 1: just the flood of information that we have at our

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Speaker 1: at our fingertips. When it comes to our personal finances

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Speaker 1: and investing, it seems a lot of times we do

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Speaker 1: just have too much information right at our disposal. Why

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Speaker 1: is it that that's actually sometimes the opposite of what

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Speaker 1: we need. Well, I mean, one common thing you find

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Speaker 1: in personal finances the people who follow the most personal

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Speaker 1: finance sites. They read all the subreddits, they listen to,

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Speaker 1: all the podcasts, they follow, all the people on Instagram

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Speaker 1: and Twitter. They're actually the people who haven't done anything

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Speaker 1: with their money. So I would recommend you find one

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Speaker 1: or two people you trust, you like who inspire you

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Speaker 1: and do everything they say, follow their advice as it

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Speaker 1: applies to you, and you don't need to be surrounded

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Speaker 1: by a million different pieces of information. You do need

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Speaker 1: diverse information, but at a certain point you know what

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Speaker 1: you need to do and it shifts from pure information

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Speaker 1: to actually taking action. So I'll give you an example

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Speaker 1: from my book. In chapter one, I talked about credit cards,

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Speaker 1: how to beat them, how to squeeze them, how to

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Speaker 1: get your fees refunded, and how to get major perks

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Speaker 1: like upgraded to sweets for free when you stay at

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Speaker 1: a hotel. Virtually every other money book starts with the

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Speaker 1: same chapter one. Do you know what almost every book

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Speaker 1: tells you to do in chapter one budget? Yes, bingo,

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Speaker 1: you nailed exactly. They're like, okay, guys, let's figure out

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Speaker 1: how much you spent over the last six months. And

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Speaker 1: you know what the average reader does checks out. Yeah.

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Speaker 1: Page two. They're like, uh, I don't know what I

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Speaker 1: spent in the last six months, but I know it

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Speaker 1: was probably bad. I don't really like this book. It

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Speaker 1: makes me feel bad. Goodbye, and they put it back

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Speaker 1: on the shelf. Okay, that demonstrates a profound lack of

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Speaker 1: understanding of human psychology when you have people purely giving

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Speaker 1: you information. Oh my god, here's another compound interest chart.

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Speaker 1: As if you didn't already know you should be investing more.

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Speaker 1: People know they're not stupid, they're actually really smart. They oh,

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Speaker 1: they should be investing, They know they should be saving,

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Speaker 1: they know they should create a debt plan. So telling

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Speaker 1: them again is not what's going to get them to change.

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Speaker 1: And when I wrote this book, I was determined to

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Speaker 1: get people to actually change. In my business, if people

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Speaker 1: don't use my material and get results, we go out

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Speaker 1: of business. It's that simple. I'm not selling ads. I'm

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Speaker 1: not doing any of that. People have to pay for

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Speaker 1: my material because it's good. And so I sat down

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Speaker 1: and decided to write a book that would actually change behavior.

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Speaker 1: And I used the material that I learned studying technology

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Speaker 1: and psychology at Stanford. I used my website, which is

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Speaker 1: my experimental laboratory. And so when you start with credit cards,

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Speaker 1: it's for a reason. Everyone's got a credit card. Everybody

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Speaker 1: hates their credit card, and nobody knows how they can

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Speaker 1: squeeze their credit cards and turn them into benefits instead

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Speaker 1: of disadvantages. So when it comes to information, you have

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Speaker 1: the information you already know compound interest and bank rate calculators.

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Speaker 1: What you need to do is focus on how you

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Speaker 1: can take action and how you can automate your investments. Yeah,

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Speaker 1: no doubt. Well, you also get tons of emails with

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Speaker 1: a whole lot of excuses. I've heready talked about that before.

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Speaker 1: What are your thoughts on on kind of the common

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Speaker 1: excuses that people give for not being able to save

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Speaker 1: or invest. This is another story that people tell us

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Speaker 1: that they tell themselves. Must be nice. That's my favorite phrase,

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Speaker 1: must be nice. Yeah, it is nice. It is nice

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Speaker 1: to save money. It is nice to invest money. It

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Speaker 1: is nice to spend money, so let's figure out how

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Speaker 1: you can do that too. Must be nice to save

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Speaker 1: a hundred dollars a month. I can't even afford to

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Speaker 1: buy a cardboard box to ship something back to Amazon.

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Speaker 1: That's what people do. They almost compete in an era

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Speaker 1: of competition, of self victimization, and I refuse to indulge

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Speaker 1: in this. Some of us start on first base, second base,

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Speaker 1: third base in different parts of life. Let's acknowledge it,

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Speaker 1: and then let's work to improve from wherever we start.

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Speaker 1: So I've got people who have two dollars of debt

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Speaker 1: reading my material. I've got people who make six figures

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Speaker 1: at age twenty two. I've got people in their thirties

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Speaker 1: or forties who have zero saved, and others who have

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Speaker 1: over a million dollars saved. The concepts can apply, but

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Speaker 1: here are the common excuses. Must be nice. There's no

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Speaker 1: way I could save a hundred dollars a month, or

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Speaker 1: a thousand dollars a month, or ten thousand dollars, whatever

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Speaker 1: the numbers. I don't have time or I'm overwhelmed. These

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Speaker 1: are like the basic excuses, and I can tell you

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Speaker 1: that one of the people who use these excuses have

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Speaker 1: never sat down for one weekend and read one personal

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Speaker 1: finance book. Never. And so what happens is you have

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Speaker 1: people in their twenties. They ignore it, they kick it

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Speaker 1: down the road, they say, oh, they'll deal with this.

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Speaker 1: Later in their thirties, they start to feel a little

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Speaker 1: more guilty. Oh, man, I really should be doing something.

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Speaker 1: Oh I got three thousand dollars in some old four

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Speaker 1: or one K I don't really know what to do

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Speaker 1: with it. What's this rollover thing? And then in their forties,

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Speaker 1: people typically wake up. They suddenly have a mortgage, maybe

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Speaker 1: one or two kids, and they go, oh, I really

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Speaker 1: need to do something. And what I would urge people

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Speaker 1: to do is to realize most people are mostly the same.

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Speaker 1: This is really important. We all think we're special snowflakes,

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Speaker 1: but in reality, most of us follow pretty predictable life patterns.

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Speaker 1: We graduate, if we go to college, we get a job,

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Speaker 1: maybe we switch jobs, We potentially get in a relationship,

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Speaker 1: maybe get married, have kids, by a house, etcetera, etcetera.

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Speaker 1: Now you may be different. You may decide that you're

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Speaker 1: going to start your own business like I did, or

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Speaker 1: you may not get married, but in general we are

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Speaker 1: most people are mostly the same. So instead of the excuses,

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Speaker 1: I would rather people say, hey, let me just assume

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Speaker 1: that my life is going to be similar to other people.

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Speaker 1: Let me win on those areas, and then I can

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Speaker 1: optimize for that five percent where I'm truly different. With

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Speaker 1: a background in psychology, you know, you've got a lot

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Speaker 1: of experience and in our personal relationships, and you love

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Speaker 1: to negotiate. So we're actually gonna talk more about negotiating

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Speaker 1: right after the break. Can't wait, Let's do it all

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Speaker 1: right back to the break, we're talking with romat safety,

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Speaker 1: and we mentioned in the headline of this episode that

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Speaker 1: negotiating like a boss was something we were going to cover,

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Speaker 1: and man re meat. As a kid, from what you've

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Speaker 1: talked about in your book, you received kind of like

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Speaker 1: a masterclass in negotiation from your dad. Can you share

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Speaker 1: with us what you learned from watching him and his

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Speaker 1: ninja like negotiating skills. You know what I learned so

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Speaker 1: much from both my parents. Both my parents came here

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Speaker 1: as immigrants in the seventies, and part of it was,

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Speaker 1: you know, my dad worked, my mom stayed home with

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Speaker 1: us kids, and we didn't have a lot of money,

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Speaker 1: so they had to be creative, and part of it

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Speaker 1: was they simply didn't know what you can and cannot

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Speaker 1: ask for. So I remember learning my mom sometimes would

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Speaker 1: just go and say, you know, is there any opportunity

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Speaker 1: here for a discount? And looking back now, I realized

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Speaker 1: that she taught me so many things without me, even

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Speaker 1: without her explicitly saying it. She taught me that number one,

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Speaker 1: you can ask, just ask. Number two that you can

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Speaker 1: always be polite. In America, we believe negotiation is necessarily adversarial,

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Speaker 1: that someone's got to lose and someone's got to feel bad.

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Speaker 1: And what she taught me is that's not true. In fact,

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Speaker 1: a lot of people, if you ask them politely, are

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Speaker 1: more than happy to do it. My dad taught me

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Speaker 1: that you don't have to worry about being embarrassed. You

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Speaker 1: can ask again, you can be polite, and sometimes you

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Speaker 1: get it and sometimes you don't, and if you don't

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Speaker 1: get it, that's okay. It's a dance. So I learned

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Speaker 1: these things, whether it came to shopping at Macy's or

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Speaker 1: buying a car, and then I used those myself as

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Speaker 1: I got older. Now I adapted him. I made him

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Speaker 1: a little bit more modern. For example, when it came

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Speaker 1: to buying a car, instead of going into a million

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Speaker 1: different dealerships, I was using a fax machine at the time.

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Speaker 1: But the point remains that you can actually ask and

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Speaker 1: oftentimes if you negotiate, you can save thousands or tens

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Speaker 1: of thousands of dollars over your lifetime. Yeah, it sounds

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Speaker 1: like what your mom was doing was modeling, and modeling

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Speaker 1: behavior is so much more important. We talked about this

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Speaker 1: on the show. Modeling that behavior for your kids. They

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Speaker 1: learn it through us mosis that way, but if you

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Speaker 1: lecture them, it doesn't stick very well. Right, it's with

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Speaker 1: your dad though. You shared a story about buying a

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Speaker 1: car and it's just it was pretty funny. Actually, can

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Speaker 1: you share that with us my dad? Uh So, I

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Speaker 1: grew up thinking that it's normal when you buy a

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Speaker 1: car that it takes four to five days. Like we

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Speaker 1: would go into the dealership, we would go home at

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Speaker 1: the end of the day, and then we'd come back

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Speaker 1: the next day, and we did that for like a week.

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Speaker 1: I thought this was totally normal, and then I came

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Speaker 1: to college. Yeah, completely, Like you you get your clothes

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Speaker 1: on and you get like mentally ready, Okay, we're going

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Speaker 1: to the dealership. It's Wednesday, you know, and we've already

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Speaker 1: been there for two days. Then I went to college

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Speaker 1: and I learned my friends told me, oh, yeah, like

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Speaker 1: my family, we just went to the dealer and we

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Speaker 1: liked this car and we bought it. And I was like,

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Speaker 1: what do you mean you bought it. They're like, yeah,

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Speaker 1: we just bought it. We drove it home like that day,

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Speaker 1: so my dad. So that's when I realized that this

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Speaker 1: world shattering realization that I grew up a little funny.

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Speaker 1: And I remember my dad. It was probably day three

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Speaker 1: or four, and we're like finally about to sign it,

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Speaker 1: and he goes, you're going to throw in the floor

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Speaker 1: mats for free, right, And these are like fifty dollar

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Speaker 1: floor mats, And it just became this huge point of

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Speaker 1: contention for fifty dollar floor mats. But what I also

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Speaker 1: learned was my dad was in no rush, no rush

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Speaker 1: at all, and in fact, he had plenty of time.

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Speaker 1: When you have time and patients, you can often get

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Speaker 1: the best deals. Are you know, are there times that

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Speaker 1: you feel that it's inappropriate to negotiate? When do you

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Speaker 1: consider like the different social pressures or expectations and at

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Speaker 1: times when would that keep you from maybe getting a

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Speaker 1: better deal. Actually, I'm so glad you asked that. I

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Speaker 1: do agree. There are times where it is inappropriate. You know,

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Speaker 1: I would never go to a restaurant and attempt to

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Speaker 1: negotiate the bill. I would never go to a mom

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Speaker 1: and pop place and try to negotiate for something that

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Speaker 1: they clearly put their time and love into. I think

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Speaker 1: that when you go to a place where negotiation is expected,

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Speaker 1: then it's expected, and you should play the game, play

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Speaker 1: the role of negotiating. It's funny, I've I've seen people,

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Speaker 1: for example, when they go to India and they go

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Speaker 1: to these street markets and they're super uncomfortable negotiating with

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Speaker 1: the street vendors, as if they're ever going to get

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Speaker 1: one over these street vendors who have been selling this

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Speaker 1: stuff for generations. These guys are way smarter than you

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Speaker 1: or me. Okay, So trust me when I say, when

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Speaker 1: you go to a place where negotiation is expected, you're

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Speaker 1: never going to trick someone into selling you something for

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Speaker 1: below their cost. Instead, you're engaging in a dance. And

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Speaker 1: so there are times where I would negotiate. But I'll

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Speaker 1: tell you now, I've come to a place where I

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Speaker 1: would actually like I have some vendors that work for me,

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Speaker 1: and I often tell them, look, I will pay your

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Speaker 1: full rate, but I'm going to be a very demanding client.

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Speaker 1: This is what I expect. I expect twenty four hour

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Speaker 1: turnaround during business hours. I expect this. I expect that,

430
00:22:08,040 --> 00:22:10,280
Speaker 1: and I tell them I will stay with you for years.

431
00:22:10,280 --> 00:22:11,960
Speaker 1: I have some vendors I've worked with for five or

432
00:22:12,000 --> 00:22:14,760
Speaker 1: ten years, but I'm going to be a very demanding client.

433
00:22:15,040 --> 00:22:17,320
Speaker 1: With that set, I will pay you on time every time,

434
00:22:17,320 --> 00:22:19,640
Speaker 1: and I will pay your asking rate. So I think

435
00:22:19,720 --> 00:22:24,440
Speaker 1: you can negotiate not just on price, but also on quality,

436
00:22:24,920 --> 00:22:28,080
Speaker 1: on delivery, et cetera. So I want people to really

437
00:22:28,080 --> 00:22:32,760
Speaker 1: think about negotiation multidimensionally. Everybody thinks about somebody inappropriately going

438
00:22:32,760 --> 00:22:35,359
Speaker 1: into a restaurant and asking for a fifty discount. That

439
00:22:35,480 --> 00:22:39,280
Speaker 1: is a caricature of negotiation. Negotiation can be nuanced, it

440
00:22:39,280 --> 00:22:41,960
Speaker 1: can be positive, it can be a dance for both parties,

441
00:22:42,200 --> 00:22:44,199
Speaker 1: and it can actually result in a better experience for

442
00:22:44,240 --> 00:22:47,320
Speaker 1: both people. Well, let's talk about one of those scariest

443
00:22:47,320 --> 00:22:51,119
Speaker 1: places where negotiating happens, where it's expected but most of

444
00:22:51,200 --> 00:22:54,120
Speaker 1: us don't even do it at all because we're frightened

445
00:22:54,440 --> 00:22:58,000
Speaker 1: about partaking and that is negotiating a raise. So how

446
00:22:58,040 --> 00:23:01,120
Speaker 1: should people approach asking for more money or better benefits

447
00:23:01,119 --> 00:23:04,160
Speaker 1: at their job? So I love talking about this because

448
00:23:04,160 --> 00:23:06,840
Speaker 1: I have many, many, many of my readers who have

449
00:23:06,840 --> 00:23:10,639
Speaker 1: negotiated ten or twenty tho dollar raises. And for everyone listening,

450
00:23:10,640 --> 00:23:12,480
Speaker 1: it's easy to roll your eyes and say, oh my god,

451
00:23:12,600 --> 00:23:15,960
Speaker 1: that must be nice. It's impossible. No, it's actually very possible.

452
00:23:16,320 --> 00:23:18,760
Speaker 1: But you need to do the groundwork. So a couple

453
00:23:18,800 --> 00:23:21,520
Speaker 1: of principles when it comes to negotiating your salary. The

454
00:23:21,600 --> 00:23:25,560
Speaker 1: first is that of the work is done before you

455
00:23:25,640 --> 00:23:29,119
Speaker 1: ever walk in the room. This common caricature we have

456
00:23:29,280 --> 00:23:32,480
Speaker 1: of negotiating a raise is that we walk up to

457
00:23:32,480 --> 00:23:35,520
Speaker 1: our boss's office, we kick the door down, we put

458
00:23:35,560 --> 00:23:37,840
Speaker 1: our hand out, and we say give me some money.

459
00:23:37,960 --> 00:23:39,800
Speaker 1: That's not the way it works. Okay, if that happens,

460
00:23:39,800 --> 00:23:43,679
Speaker 1: you're gonna be fired. Don't do that. Yeah, bad tactic, guys.

461
00:23:43,720 --> 00:23:47,719
Speaker 1: So instead, I'm gonna give you a series of scripts

462
00:23:48,000 --> 00:23:50,800
Speaker 1: and techniques that you can use right now to negotiate

463
00:23:50,880 --> 00:23:53,680
Speaker 1: a raise. The first thing you do is you send

464
00:23:53,720 --> 00:23:55,720
Speaker 1: an email to your boss, and you say it to

465
00:23:55,760 --> 00:23:58,439
Speaker 1: your boss, I would love to sit down with you

466
00:23:58,520 --> 00:24:00,880
Speaker 1: and spend a half an hour talking about my role

467
00:24:00,960 --> 00:24:04,119
Speaker 1: here and understanding what it would take to do an

468
00:24:04,160 --> 00:24:07,120
Speaker 1: amazing job to be a top performer. Could we talk

469
00:24:07,200 --> 00:24:09,600
Speaker 1: next Friday? All right? So of course every boss is

470
00:24:09,600 --> 00:24:11,680
Speaker 1: going to say yes. So you go into the meeting

471
00:24:12,280 --> 00:24:14,840
Speaker 1: and you prepare. You say, you know, first of all,

472
00:24:14,840 --> 00:24:17,480
Speaker 1: thank you for taking the time. I want to make

473
00:24:17,520 --> 00:24:20,320
Speaker 1: sure that in my role I'm doing an absolutely amazing job.

474
00:24:20,400 --> 00:24:22,800
Speaker 1: I'm not here to be mediocre. So I would love

475
00:24:22,840 --> 00:24:25,960
Speaker 1: to talk to you about what it takes to exceed

476
00:24:26,080 --> 00:24:30,080
Speaker 1: expectations in my role. Would that be okay? Of course,

477
00:24:30,080 --> 00:24:33,360
Speaker 1: she says yes. Noticed that you're slowly and gradually building

478
00:24:33,440 --> 00:24:37,040
Speaker 1: up this conversation, so you can then say, okay, I

479
00:24:37,359 --> 00:24:39,600
Speaker 1: went back and looked at my job description. These are

480
00:24:39,680 --> 00:24:43,040
Speaker 1: the three key responsibilities in my job description. Would you

481
00:24:43,080 --> 00:24:44,920
Speaker 1: agree those are accurate or do you think there's anything

482
00:24:44,960 --> 00:24:47,560
Speaker 1: that needs to be changed? Okay? Again, gradual buy him.

483
00:24:47,800 --> 00:24:50,119
Speaker 1: Then you say, based on the projects and the goals

484
00:24:50,160 --> 00:24:52,800
Speaker 1: I'm working on, here's what I think it takes to

485
00:24:52,840 --> 00:24:55,800
Speaker 1: be excellent, and you lay them out. For example, you

486
00:24:55,840 --> 00:24:58,359
Speaker 1: know we're working on the website conversion. I think good

487
00:24:58,400 --> 00:25:00,720
Speaker 1: would be increasing a two per in it. I think

488
00:25:00,760 --> 00:25:04,280
Speaker 1: excellent would be increasing it four. And just go through

489
00:25:04,280 --> 00:25:07,440
Speaker 1: these series of projects. Oh, we're trying to hire this person. Well,

490
00:25:07,720 --> 00:25:10,919
Speaker 1: instead of taking twelve weeks, it's it should take eight weeks. Okay,

491
00:25:11,480 --> 00:25:14,880
Speaker 1: am I missing anything? Oh? This one's not really irrelevant anymore. Great, Okay,

492
00:25:14,880 --> 00:25:17,560
Speaker 1: so let's correct it. Okay, Well, it seems like we've

493
00:25:17,600 --> 00:25:20,240
Speaker 1: come to an agreement on these three things that would

494
00:25:20,280 --> 00:25:22,840
Speaker 1: make me excellent. And again, my goal is to make

495
00:25:22,960 --> 00:25:26,880
Speaker 1: your life easier. Your boss is smiling, everybody's happy, right,

496
00:25:26,960 --> 00:25:29,400
Speaker 1: flowers or flowering. The music is playing in the back,

497
00:25:29,760 --> 00:25:32,800
Speaker 1: and you say, you know what, I really appreciate the

498
00:25:32,840 --> 00:25:35,400
Speaker 1: time I'm going to get to work on these And

499
00:25:35,520 --> 00:25:39,680
Speaker 1: if I managed to nail all of these goals, I'd

500
00:25:39,760 --> 00:25:43,600
Speaker 1: love to discuss a compensation adjustment at that time. But first,

501
00:25:43,680 --> 00:25:45,719
Speaker 1: let me just get to work and I'll update you

502
00:25:45,760 --> 00:25:48,800
Speaker 1: every two weeks with the status check. How does that sound?

503
00:25:49,240 --> 00:25:51,479
Speaker 1: I love the word calling it a compensation adjustment, by

504
00:25:51,480 --> 00:25:55,800
Speaker 1: the way, versus a raise exactly. Language matters. Language matters

505
00:25:55,840 --> 00:25:58,119
Speaker 1: a lot. That's why the work is done before you

506
00:25:58,160 --> 00:26:00,840
Speaker 1: ever walk in the room. You gotta practice this stuff. Okay,

507
00:26:00,880 --> 00:26:03,760
Speaker 1: so boss says, yes, you walk out. What do you

508
00:26:03,800 --> 00:26:05,800
Speaker 1: think your boss is feeling as you walk out of

509
00:26:05,840 --> 00:26:08,240
Speaker 1: that room, Like, man, this guy's go get her. This

510
00:26:08,320 --> 00:26:10,240
Speaker 1: girl is like she's in it to win it. She

511
00:26:10,280 --> 00:26:13,760
Speaker 1: wants to help this company succeed. Yes. Yes, And if

512
00:26:13,760 --> 00:26:17,680
Speaker 1: I were to characterize the word, it would be relief. Wow,

513
00:26:18,880 --> 00:26:21,920
Speaker 1: I have an employee who actually wants to do an

514
00:26:21,920 --> 00:26:25,439
Speaker 1: amazing job, who wants to make my life easier. Do

515
00:26:25,480 --> 00:26:29,160
Speaker 1: you see how we've already completely reframed this discussion from

516
00:26:29,320 --> 00:26:33,879
Speaker 1: give me money two, I'm going to make your life easier. Okay,

517
00:26:33,880 --> 00:26:36,280
Speaker 1: that's just step one. So you go back to your desk,

518
00:26:36,560 --> 00:26:39,480
Speaker 1: You write up an email summarizing the conversation. You put

519
00:26:39,520 --> 00:26:42,240
Speaker 1: the compensation adjustment. But it's towards the bottom. Now is

520
00:26:42,240 --> 00:26:44,360
Speaker 1: when the hard work starts. You need to actually hit

521
00:26:44,400 --> 00:26:46,720
Speaker 1: those numbers. People think they should get a raised just

522
00:26:46,760 --> 00:26:48,840
Speaker 1: because they've been there. No, you don't deserve a raise.

523
00:26:49,119 --> 00:26:51,560
Speaker 1: You get a raise if you exceed expectations. You've now

524
00:26:51,600 --> 00:26:54,320
Speaker 1: clarified expectations. Now it's time to exceed them. So you've

525
00:26:54,320 --> 00:26:56,160
Speaker 1: got to do the work. If you need to help

526
00:26:56,240 --> 00:26:58,720
Speaker 1: get a mentor take people out to lunch at work.

527
00:26:58,760 --> 00:27:00,720
Speaker 1: Ask him, here's something I've been chartered to do. How

528
00:27:00,760 --> 00:27:02,840
Speaker 1: would you go about it? This is the hardest part.

529
00:27:02,880 --> 00:27:05,639
Speaker 1: You actually have to be good every two weeks sending

530
00:27:05,640 --> 00:27:08,440
Speaker 1: an update on Friday. Here's what the goal was. Here's

531
00:27:08,440 --> 00:27:10,600
Speaker 1: where I am. This one proving a little tough, but

532
00:27:10,640 --> 00:27:12,240
Speaker 1: this is what I'm planning to do to get back

533
00:27:12,240 --> 00:27:16,439
Speaker 1: in course. Correct. Great, Let's fast forward six months. You

534
00:27:16,480 --> 00:27:20,000
Speaker 1: send an email, Hey boss, six months ago, we discussed

535
00:27:20,119 --> 00:27:22,479
Speaker 1: some key goals. As you know, I've been sending your

536
00:27:22,480 --> 00:27:25,000
Speaker 1: status updates. I'd love to come in and show you

537
00:27:25,560 --> 00:27:27,760
Speaker 1: the results of that work. Can we set up some time?

538
00:27:27,960 --> 00:27:31,520
Speaker 1: Of course, you go in. Now this is where all

539
00:27:31,560 --> 00:27:35,399
Speaker 1: the magic happens. The work is done. Now it's time

540
00:27:35,760 --> 00:27:37,840
Speaker 1: to have some fun. So you go in and you

541
00:27:37,880 --> 00:27:40,040
Speaker 1: literally make a presentation. You say, six months ago, this

542
00:27:40,080 --> 00:27:42,840
Speaker 1: is what we discussed. Here are some of the results.

543
00:27:43,200 --> 00:27:47,920
Speaker 1: My goal was to improve website conversion. I'm really proud

544
00:27:47,960 --> 00:27:51,479
Speaker 1: to announce that I've improved it four point five with

545
00:27:51,520 --> 00:27:54,560
Speaker 1: the help of this team. My other goal was twelve

546
00:27:54,600 --> 00:27:57,160
Speaker 1: weeks to eight weeks. I'm so happy to mention that

547
00:27:57,520 --> 00:28:00,359
Speaker 1: it was actually hired at six point five weeks and

548
00:28:00,400 --> 00:28:03,080
Speaker 1: we have an A plus rating, and on on on

549
00:28:03,920 --> 00:28:07,200
Speaker 1: boss is smiling, you're smiling. Maybe you can even tie

550
00:28:07,240 --> 00:28:09,399
Speaker 1: it to profit. This is going to generate x y

551
00:28:09,520 --> 00:28:12,280
Speaker 1: z profit. And by the way, I've saved you three

552
00:28:12,320 --> 00:28:15,320
Speaker 1: hours a week now. And this is where you something

553
00:28:15,359 --> 00:28:19,040
Speaker 1: I call the briefcase technique. You can google the briefcase

554
00:28:19,080 --> 00:28:22,120
Speaker 1: technique to see this in action. You literally pull out

555
00:28:22,440 --> 00:28:26,440
Speaker 1: a sheet of paper from a briefcase or a folder.

556
00:28:26,480 --> 00:28:30,080
Speaker 1: It's almost theatrical and you're showing the results, but you're

557
00:28:30,119 --> 00:28:34,280
Speaker 1: also saying, you know what, based on my research, here's

558
00:28:34,320 --> 00:28:38,400
Speaker 1: what I have found is typical compensation from my role.

559
00:28:38,920 --> 00:28:41,440
Speaker 1: And let's say that you are being paid sixty K

560
00:28:41,840 --> 00:28:45,720
Speaker 1: and your role really should be seventy two K. You

561
00:28:45,800 --> 00:28:47,720
Speaker 1: show them the charts. You said, this is what my

562
00:28:47,800 --> 00:28:51,000
Speaker 1: data shows. We discussed that if I was a top

563
00:28:51,040 --> 00:28:54,720
Speaker 1: performer that we could discuss a compensation adjustment. I'd like

564
00:28:54,760 --> 00:28:58,240
Speaker 1: to have that discussion. Now. Now let's just pause right here.

565
00:28:58,280 --> 00:29:00,680
Speaker 1: What do you think your boss is feeling. I don't

566
00:29:00,680 --> 00:29:02,760
Speaker 1: think they're feeling put on the spot like they would

567
00:29:02,800 --> 00:29:04,920
Speaker 1: be if you just came out and ask for a

568
00:29:05,000 --> 00:29:07,400
Speaker 1: raise without doing any work. I think they're proud of

569
00:29:07,440 --> 00:29:11,120
Speaker 1: your accomplishments. They want to retain you as an employee

570
00:29:11,120 --> 00:29:13,680
Speaker 1: because you are a great performer. And what you've done

571
00:29:13,760 --> 00:29:16,200
Speaker 1: is you've I mean, you've been able to communicate your

572
00:29:16,320 --> 00:29:19,880
Speaker 1: value to your employer, right like any good boss would

573
00:29:19,920 --> 00:29:22,920
Speaker 1: see that you're actually providing value and and yeah, and

574
00:29:23,040 --> 00:29:25,680
Speaker 1: any great boss would be more than happy to h

575
00:29:25,800 --> 00:29:29,440
Speaker 1: to compensate for that value you're bringing to the company. Exactly. Oh,

576
00:29:29,560 --> 00:29:31,640
Speaker 1: I love it. So you can see that the I

577
00:29:31,680 --> 00:29:35,800
Speaker 1: will teach you be rich. Principles apply to a negotiation, which,

578
00:29:35,800 --> 00:29:37,760
Speaker 1: by the way, I show you the exact words to

579
00:29:37,880 --> 00:29:40,880
Speaker 1: use in chapter nine of my book. They also apply

580
00:29:41,160 --> 00:29:44,120
Speaker 1: to any other negotiation. When I negotiate with a vendor.

581
00:29:44,480 --> 00:29:47,080
Speaker 1: For example, I'm not just saying give me a discount.

582
00:29:47,120 --> 00:29:50,360
Speaker 1: I'm saying, here's why it makes sense for us to

583
00:29:50,400 --> 00:29:54,280
Speaker 1: work together. And if you can commit X, then I

584
00:29:54,320 --> 00:29:56,880
Speaker 1: can commit why. And it might be a price discount

585
00:29:56,880 --> 00:29:59,440
Speaker 1: in exchange for me sending a more business, or it

586
00:29:59,520 --> 00:30:02,080
Speaker 1: might be I'll pay your full rate, but you need

587
00:30:02,120 --> 00:30:04,960
Speaker 1: to deliver a status update to me every Thursday. Whatever

588
00:30:04,960 --> 00:30:07,720
Speaker 1: the case may be. The work is done before you

589
00:30:07,760 --> 00:30:10,520
Speaker 1: walk in the room. So for everyone listening, that is

590
00:30:10,560 --> 00:30:13,400
Speaker 1: how negotiation is done at the pro level. You never

591
00:30:13,440 --> 00:30:15,640
Speaker 1: walk in just asked for money. If so, you deserve

592
00:30:15,680 --> 00:30:17,360
Speaker 1: to be kicked out. But if you want to get

593
00:30:17,360 --> 00:30:21,239
Speaker 1: the five thousand, ten thousand dollar raises, as many of

594
00:30:21,280 --> 00:30:24,040
Speaker 1: my students have, that is how you begin to do it.

595
00:30:24,520 --> 00:30:26,680
Speaker 1: So that's a great example if you find yourself at

596
00:30:26,720 --> 00:30:29,120
Speaker 1: the current employer and you're looking to to make some moves.

597
00:30:29,640 --> 00:30:32,720
Speaker 1: For me, if if someone finds themselves, you know, without

598
00:30:32,800 --> 00:30:35,480
Speaker 1: room for growth at a current job, and they decided

599
00:30:35,520 --> 00:30:38,360
Speaker 1: to look elsewhere, what advice do you have for that

600
00:30:38,400 --> 00:30:42,280
Speaker 1: person in regarding just landing and making a great impression

601
00:30:42,520 --> 00:30:45,840
Speaker 1: during an interview with a new potential employer. Okay, so

602
00:30:45,960 --> 00:30:47,640
Speaker 1: I have an entire course around this, and I want

603
00:30:47,680 --> 00:30:49,440
Speaker 1: to give you some of the juicy stuff from that course.

604
00:30:49,720 --> 00:30:52,600
Speaker 1: The course that I have is called find your Dream Job,

605
00:30:52,760 --> 00:30:55,600
Speaker 1: and I've got about twenty products on I will teach

606
00:30:55,600 --> 00:30:59,120
Speaker 1: beers dot com slash products and some of these are

607
00:30:59,440 --> 00:31:03,760
Speaker 1: finding a dream job, starting a business, mastering your inner psychology,

608
00:31:03,880 --> 00:31:06,720
Speaker 1: or for the high earners listening, I've got some material

609
00:31:06,840 --> 00:31:13,320
Speaker 1: on advanced personal finance when it comes to switching jobs. Um,

610
00:31:13,440 --> 00:31:16,960
Speaker 1: We have these things we call competence triggers. And if

611
00:31:17,000 --> 00:31:18,840
Speaker 1: you've ever walked in a room and you see someone

612
00:31:18,880 --> 00:31:23,200
Speaker 1: who just immediately looks competent, there are these competence triggers

613
00:31:23,240 --> 00:31:26,600
Speaker 1: that you it's important that you leverage the minute you

614
00:31:26,640 --> 00:31:29,560
Speaker 1: start looking for a job. For example, a low competence

615
00:31:29,600 --> 00:31:33,000
Speaker 1: trigger is applying through the front door for a job.

616
00:31:33,480 --> 00:31:35,719
Speaker 1: You're applying and just competing with everyone else. Now, if

617
00:31:35,760 --> 00:31:37,200
Speaker 1: you have to do it, you have to do it.

618
00:31:37,560 --> 00:31:41,520
Speaker 1: But a high competence trigger is having somebody connected to

619
00:31:41,560 --> 00:31:45,080
Speaker 1: the company, whether it's a current or former employee, sending

620
00:31:45,080 --> 00:31:50,239
Speaker 1: a personal note and saying, hey, bob uh, I know

621
00:31:50,240 --> 00:31:52,200
Speaker 1: you're hiring for the role of product manager. I have

622
00:31:52,240 --> 00:31:54,280
Speaker 1: a friend that i'd like to recommend or better yet,

623
00:31:54,520 --> 00:31:57,600
Speaker 1: I just met this person. We went out to coffee,

624
00:31:57,640 --> 00:32:00,480
Speaker 1: and I think they would be amazing for you to interview.

625
00:32:00,920 --> 00:32:04,000
Speaker 1: That's a high competence trigger. So how do you do that? Well,

626
00:32:04,000 --> 00:32:06,400
Speaker 1: there's ways to meet this person, take them out to

627
00:32:06,440 --> 00:32:08,880
Speaker 1: coffee or even a Skype call. Not only are you

628
00:32:08,920 --> 00:32:10,840
Speaker 1: getting to know them and I have a series of

629
00:32:10,920 --> 00:32:14,400
Speaker 1: questions you can ask them, but you're also learning what

630
00:32:14,480 --> 00:32:17,360
Speaker 1: the company hires for, what they care about. So by

631
00:32:17,400 --> 00:32:19,280
Speaker 1: the time you walk into that interview, not only have

632
00:32:19,320 --> 00:32:22,000
Speaker 1: you been blessed by a former or current employee, you

633
00:32:22,040 --> 00:32:24,400
Speaker 1: know the core goals, so you can actually present your

634
00:32:24,440 --> 00:32:28,560
Speaker 1: briefcase technique in the interview. That's one Another thing is

635
00:32:28,600 --> 00:32:31,680
Speaker 1: that people think that in an interview your job is

636
00:32:31,720 --> 00:32:35,840
Speaker 1: to answer questions. That's incorrect. Your job, yes, you need

637
00:32:35,880 --> 00:32:38,560
Speaker 1: to answer questions, but your job is to show your

638
00:32:38,720 --> 00:32:42,480
Speaker 1: story and hit your key points. So, for example, a

639
00:32:42,600 --> 00:32:45,920
Speaker 1: junior interviewee, if I'm the boss and I say tell

640
00:32:45,920 --> 00:32:49,400
Speaker 1: me about yourself, a junior interviewee would say something like, well,

641
00:32:49,440 --> 00:32:51,080
Speaker 1: I was born here and I went to college, Like

642
00:32:51,120 --> 00:32:55,520
Speaker 1: who cares. A more senior, experienced person with high competence

643
00:32:55,560 --> 00:32:58,400
Speaker 1: triggers would say, well, there are three things that I

644
00:32:58,400 --> 00:33:00,640
Speaker 1: think are important for this role that I'm gonna tell

645
00:33:00,680 --> 00:33:03,040
Speaker 1: you about me. First of all, here's what I studied,

646
00:33:03,360 --> 00:33:05,800
Speaker 1: and here's why it matters. The second thing is, in

647
00:33:05,880 --> 00:33:08,560
Speaker 1: my last role, I was a junior product manager and

648
00:33:08,600 --> 00:33:11,720
Speaker 1: I was responsible for bringing this conversion technique to market.

649
00:33:12,160 --> 00:33:14,320
Speaker 1: I did it in two weeks, faster than deadline, and

650
00:33:14,360 --> 00:33:18,720
Speaker 1: we exceeded our goals. And the third thing is communication skills,

651
00:33:18,720 --> 00:33:20,960
Speaker 1: which I think are critical for this role. Here's how

652
00:33:21,040 --> 00:33:25,000
Speaker 1: I've improved and worked on mine. See you answered the question,

653
00:33:25,240 --> 00:33:28,400
Speaker 1: but you also told your key points. So they are

654
00:33:28,440 --> 00:33:32,240
Speaker 1: all kinds of ways when it comes to interviewing negotiating,

655
00:33:32,600 --> 00:33:34,440
Speaker 1: where all the work is done before you walk in

656
00:33:34,480 --> 00:33:36,440
Speaker 1: the room, and then by the time you get there,

657
00:33:36,720 --> 00:33:39,800
Speaker 1: you're both on equal footing. You're deciding if you want

658
00:33:39,800 --> 00:33:42,120
Speaker 1: the job as much as they're deciding if they want you.

659
00:33:42,760 --> 00:33:45,080
Speaker 1: I agree. I think most people they're not in that

660
00:33:45,120 --> 00:33:46,920
Speaker 1: frame of mind when they're going into an interview for

661
00:33:46,960 --> 00:33:49,840
Speaker 1: a job. They're not thinking about whether they want the job.

662
00:33:49,920 --> 00:33:51,959
Speaker 1: They're just trying to impress the person in front of them,

663
00:33:52,040 --> 00:33:54,400
Speaker 1: and maybe they're not doing it at the highest level

664
00:33:54,440 --> 00:33:56,320
Speaker 1: that they could. Right. Yeah, most people are playing from

665
00:33:56,320 --> 00:33:58,960
Speaker 1: a position of weakness. So they go just just like

666
00:33:59,040 --> 00:34:01,240
Speaker 1: everyone else. They go in, they apply through the front door,

667
00:34:01,480 --> 00:34:03,880
Speaker 1: they put their hands together and pray that they get

668
00:34:03,880 --> 00:34:05,920
Speaker 1: a call back, and when they do, they go into

669
00:34:05,960 --> 00:34:09,040
Speaker 1: the interview and they just answer questions. They're basically just

670
00:34:09,120 --> 00:34:11,879
Speaker 1: being carried along on the raft of life. They sat

671
00:34:11,920 --> 00:34:14,880
Speaker 1: on a raft and the river is carrying them. They

672
00:34:14,880 --> 00:34:17,200
Speaker 1: don't choose anything. The river carries them. Left, they go left.

673
00:34:17,400 --> 00:34:19,800
Speaker 1: And what I urge people for a rich life, whether

674
00:34:19,840 --> 00:34:21,880
Speaker 1: it is what you spend your money on, what you

675
00:34:21,920 --> 00:34:25,120
Speaker 1: save your money on, or how you negotiate is I

676
00:34:25,160 --> 00:34:27,480
Speaker 1: have found it's a lot more fun to be a

677
00:34:27,640 --> 00:34:30,799
Speaker 1: driver rather than a passenger in my own life. And

678
00:34:30,880 --> 00:34:33,000
Speaker 1: if that means I need to do a little extra work,

679
00:34:33,320 --> 00:34:35,960
Speaker 1: I need to prep I need to practice my negotiation,

680
00:34:36,400 --> 00:34:38,560
Speaker 1: or invest in a course to learn how to write

681
00:34:38,600 --> 00:34:41,640
Speaker 1: a better resume than I will because I get to

682
00:34:41,719 --> 00:34:44,600
Speaker 1: choose then, and I play from a position of strength.

683
00:34:44,840 --> 00:34:46,640
Speaker 1: That's what I will teach you to be rich is

684
00:34:46,680 --> 00:34:49,960
Speaker 1: about nice. All Right, we'll meet well, speaking of driving,

685
00:34:50,040 --> 00:34:52,400
Speaker 1: we're going to talk about putting yourself in the driver's

686
00:34:52,400 --> 00:34:54,359
Speaker 1: seat when it comes to automating your finances, and we're

687
00:34:54,360 --> 00:34:56,640
Speaker 1: going to get to some questions about that right after

688
00:34:56,640 --> 00:35:08,120
Speaker 1: the break. All right, we're back. We're gonna spend some

689
00:35:08,160 --> 00:35:10,759
Speaker 1: time talking about automation. But we'll meet real quick. I

690
00:35:10,760 --> 00:35:14,520
Speaker 1: wanted to ask a question regarding what should folks consider

691
00:35:14,719 --> 00:35:17,719
Speaker 1: when they're making big money decisions. Specifically, I'm thinking of

692
00:35:18,440 --> 00:35:21,480
Speaker 1: you're featured in a recent CNBC article about grad school,

693
00:35:21,719 --> 00:35:24,040
Speaker 1: as far as just the things to consider and so

694
00:35:24,160 --> 00:35:26,319
Speaker 1: not just things to consider for grad school, but just

695
00:35:26,840 --> 00:35:29,359
Speaker 1: lots of large purchases in life. I think we don't

696
00:35:29,440 --> 00:35:31,920
Speaker 1: spend enough time thinking about them, and I would love

697
00:35:31,960 --> 00:35:33,960
Speaker 1: to hear your thoughts on how we should approach some

698
00:35:34,000 --> 00:35:38,040
Speaker 1: of those big purchases. Well, I think for big purchases

699
00:35:38,280 --> 00:35:42,120
Speaker 1: like those typically are things like grad school, getting married,

700
00:35:42,480 --> 00:35:46,000
Speaker 1: buying a house. These are areas where it actually pays

701
00:35:46,080 --> 00:35:50,760
Speaker 1: to spend time, and most people are busy asking themselves

702
00:35:50,920 --> 00:35:53,960
Speaker 1: three dollar questions when they really should be asking themselves

703
00:35:54,160 --> 00:35:58,040
Speaker 1: thirty thousand dollar questions. So when it comes to buying

704
00:35:58,080 --> 00:36:01,400
Speaker 1: a house, you know, we have people just repeating these mindless,

705
00:36:01,520 --> 00:36:05,440
Speaker 1: drone statements like renting is throwing money away. That's not true.

706
00:36:05,640 --> 00:36:07,759
Speaker 1: They're not building any more land that doesn't even matter.

707
00:36:08,440 --> 00:36:10,640
Speaker 1: And what people should be doing is saying, hey, let

708
00:36:10,640 --> 00:36:14,520
Speaker 1: me understand the numbers as it relates to these big purchases.

709
00:36:14,719 --> 00:36:17,960
Speaker 1: Same thing with student loans. These days, it's become almost

710
00:36:17,960 --> 00:36:20,640
Speaker 1: popular to tell people that student loans are evil and

711
00:36:20,680 --> 00:36:23,640
Speaker 1: that it's the worst investment you could possibly make and

712
00:36:23,760 --> 00:36:25,759
Speaker 1: you shouldn't even go to college. Now that might be

713
00:36:25,800 --> 00:36:30,360
Speaker 1: true for some people, but in reality, college education is

714
00:36:30,400 --> 00:36:32,719
Speaker 1: one of the best investments you can make. Now, yes,

715
00:36:32,760 --> 00:36:34,399
Speaker 1: you need to be thoughtful about it. But we know

716
00:36:34,680 --> 00:36:37,680
Speaker 1: from data that people who have a college degree have

717
00:36:37,840 --> 00:36:41,080
Speaker 1: lifetime earnings of over a million dollars more than people

718
00:36:41,080 --> 00:36:43,880
Speaker 1: without a college degree. So I want people to stop

719
00:36:43,960 --> 00:36:47,600
Speaker 1: with the mindless repeating of these phrases and actually get

720
00:36:47,640 --> 00:36:50,160
Speaker 1: into the numbers. Let's look, Okay, how much is this

721
00:36:50,200 --> 00:36:53,200
Speaker 1: degree going to cost you? And all this data is available,

722
00:36:53,440 --> 00:36:56,399
Speaker 1: it doesn't make sense to purchase an apartment in New

723
00:36:56,520 --> 00:37:00,680
Speaker 1: York or San Francisco, or for that matter, Kansas or Chicago. Well,

724
00:37:00,760 --> 00:37:02,719
Speaker 1: let's talk about it. Let's run the numbers, and let's

725
00:37:02,760 --> 00:37:06,879
Speaker 1: not repeat these almost religious phrases that America has become

726
00:37:06,920 --> 00:37:09,200
Speaker 1: consumed with. So when it comes for a big purchase,

727
00:37:09,280 --> 00:37:11,680
Speaker 1: number one is get honest, find out the truth. And

728
00:37:11,719 --> 00:37:15,319
Speaker 1: the next thing is save for it. I'll just give

729
00:37:15,360 --> 00:37:17,800
Speaker 1: you some examples from my own life. I started saving

730
00:37:17,880 --> 00:37:21,839
Speaker 1: for my wedding in my twenties before I ever met

731
00:37:21,880 --> 00:37:24,360
Speaker 1: my wife, and I remember writing about this in the

732
00:37:24,360 --> 00:37:25,719
Speaker 1: first edition of my book, and a lot of people

733
00:37:25,760 --> 00:37:27,560
Speaker 1: said I was a weirdo. I'm like, yeah, I am

734
00:37:27,560 --> 00:37:29,239
Speaker 1: a weirdo. I wrote a book on money. Of course,

735
00:37:29,360 --> 00:37:32,080
Speaker 1: you're weird too. You're talking to me. We're weird here,

736
00:37:32,160 --> 00:37:35,319
Speaker 1: let's just acknowledge it. But what is even weirder, in

737
00:37:35,320 --> 00:37:38,879
Speaker 1: my opinion, is closing your eyes and covering your ears

738
00:37:38,880 --> 00:37:42,080
Speaker 1: and saying no, no, no, no a when in reality,

739
00:37:42,160 --> 00:37:44,879
Speaker 1: you know, again, most people are mostly the same. You're

740
00:37:44,880 --> 00:37:47,400
Speaker 1: probably gonna get married, you're probably going to buy a house.

741
00:37:47,640 --> 00:37:50,000
Speaker 1: So instead of denying reality, why don't you actually just

742
00:37:50,000 --> 00:37:52,840
Speaker 1: start saving for it? And I'm so glad I did that,

743
00:37:52,880 --> 00:37:56,040
Speaker 1: and I'm so glad my readers look ahead ten year.

744
00:37:56,080 --> 00:37:57,799
Speaker 1: In fact, there's this article I wrote called the ten

745
00:37:57,880 --> 00:38:01,000
Speaker 1: years Saving Strategy. They look down the ten years, They

746
00:38:01,040 --> 00:38:02,880
Speaker 1: ask people ten years older than them, what do you

747
00:38:02,920 --> 00:38:05,479
Speaker 1: wish you'd saved for? And then you create a sub

748
00:38:05,520 --> 00:38:08,319
Speaker 1: savings account and automate their savings for it. That's the

749
00:38:08,320 --> 00:38:11,040
Speaker 1: way to get ahead. Yeah, man, I think there are

750
00:38:11,120 --> 00:38:15,040
Speaker 1: lots of folks who something crazy comes up in their life,

751
00:38:15,040 --> 00:38:17,239
Speaker 1: whether it's a health issue or an issue with the

752
00:38:17,280 --> 00:38:19,799
Speaker 1: family member, and they just haven't planned at all, and

753
00:38:19,800 --> 00:38:21,040
Speaker 1: they have no idea what to do, and they don't

754
00:38:21,040 --> 00:38:23,080
Speaker 1: have the savings, and they don't have the time that

755
00:38:23,120 --> 00:38:25,200
Speaker 1: they wish they could have in order to tackle this

756
00:38:25,239 --> 00:38:27,200
Speaker 1: issue well, because they have to work more to make

757
00:38:27,200 --> 00:38:29,440
Speaker 1: more money to pay for whatever is going on. And

758
00:38:29,440 --> 00:38:31,440
Speaker 1: and certainly there are things that we can't predict. But

759
00:38:31,920 --> 00:38:34,359
Speaker 1: what we can do is we can be at least

760
00:38:34,400 --> 00:38:37,640
Speaker 1: somewhat prepared and at least thinking about the future now,

761
00:38:37,719 --> 00:38:39,239
Speaker 1: even though we don't know what the future is going

762
00:38:39,280 --> 00:38:41,440
Speaker 1: to hold. So I think that's great advice. I want

763
00:38:41,440 --> 00:38:43,240
Speaker 1: to ask you, with with so much that we juggle

764
00:38:43,280 --> 00:38:46,680
Speaker 1: in daily life, can you tell us why automating personal

765
00:38:46,719 --> 00:38:49,400
Speaker 1: finances is so important to you. It's something you talk

766
00:38:49,440 --> 00:38:52,319
Speaker 1: about a lot. It's probably the most important thing you

767
00:38:52,360 --> 00:38:56,920
Speaker 1: can do. Automation will give you better results by a

768
00:38:56,960 --> 00:39:01,040
Speaker 1: factor of a thousand compared to getting financial really literate.

769
00:39:01,480 --> 00:39:04,320
Speaker 1: And this is almost heresy in the financial literacy world.

770
00:39:04,480 --> 00:39:06,200
Speaker 1: A lot of people think, oh, I need to learn,

771
00:39:06,239 --> 00:39:09,000
Speaker 1: I need to understand. Yes, you do, read my book,

772
00:39:09,160 --> 00:39:12,239
Speaker 1: learn about asset allocation, etcetera. But when it comes to

773
00:39:12,320 --> 00:39:15,400
Speaker 1: actually making your money grow, you need to audit me.

774
00:39:15,880 --> 00:39:17,920
Speaker 1: And I'll tell you why, because right now you're listening

775
00:39:17,960 --> 00:39:20,080
Speaker 1: to me. Maybe you like me, maybe you don't. It's

776
00:39:20,120 --> 00:39:23,000
Speaker 1: up to you. But you say, I'm pumped, I'm excited,

777
00:39:23,000 --> 00:39:25,319
Speaker 1: I can invest, I can turn fifteen thousand dollars into

778
00:39:25,320 --> 00:39:28,040
Speaker 1: eight eight five thousand dollars by just putting it in

779
00:39:28,080 --> 00:39:31,480
Speaker 1: a passive target date fund. You're pumped. Two weeks from now,

780
00:39:31,560 --> 00:39:33,560
Speaker 1: you're not going to care. Two weeks from now, you're

781
00:39:33,560 --> 00:39:36,560
Speaker 1: gonna be eating at Chili's, you're gonna be out bowling,

782
00:39:36,840 --> 00:39:39,200
Speaker 1: you're gonna be doing whatever you're watching on Netflix. And

783
00:39:39,239 --> 00:39:41,560
Speaker 1: I don't blame you. Trust me. I don't wake up

784
00:39:41,560 --> 00:39:43,400
Speaker 1: in the morning and say, oh, let me micro optimize

785
00:39:43,440 --> 00:39:46,480
Speaker 1: my asset allocation. Nobody wants to do that. What we

786
00:39:46,520 --> 00:39:48,920
Speaker 1: want to do is live our life. What we need

787
00:39:48,960 --> 00:39:52,040
Speaker 1: to do is get honest about that, acknowledge that we

788
00:39:52,080 --> 00:39:55,480
Speaker 1: don't want to be financial experts, and put systems in

789
00:39:55,560 --> 00:39:58,680
Speaker 1: place so that even as we are living our lives,

790
00:39:59,560 --> 00:40:02,720
Speaker 1: our money is growing. For us. You should be spending

791
00:40:02,800 --> 00:40:04,840
Speaker 1: less than ninety minutes a month on your money. I

792
00:40:04,880 --> 00:40:09,319
Speaker 1: spend less than sixty And with that, my money goes

793
00:40:09,360 --> 00:40:13,480
Speaker 1: into a checking account. It's automatically dispersed, almost like an

794
00:40:13,520 --> 00:40:18,360
Speaker 1: email inbox filter. It's filtered to multiple sub savings accounts.

795
00:40:18,600 --> 00:40:21,520
Speaker 1: Those sub savings accounts include down payment for a house,

796
00:40:22,160 --> 00:40:26,560
Speaker 1: vacations for the year, gifts, a stupid mistakes account that

797
00:40:26,600 --> 00:40:28,839
Speaker 1: I have for stupid mistakes that I make, and they're

798
00:40:28,880 --> 00:40:31,760
Speaker 1: also I have money sent over to an investment account

799
00:40:31,800 --> 00:40:36,400
Speaker 1: where that money is automatically invested and allocated properly. This

800
00:40:36,480 --> 00:40:38,720
Speaker 1: doesn't take me any time once I followed the steps

801
00:40:38,800 --> 00:40:42,120
Speaker 1: in chapter five of the book. The money just goes

802
00:40:42,160 --> 00:40:43,759
Speaker 1: where it needs to go and I get to live

803
00:40:43,800 --> 00:40:45,879
Speaker 1: my life. And I think the best part of this

804
00:40:45,920 --> 00:40:48,920
Speaker 1: is actually very empowering because I get to take the

805
00:40:48,960 --> 00:40:52,360
Speaker 1: money that I have and spend it guilt free on

806
00:40:52,400 --> 00:40:55,080
Speaker 1: the things I love. So for everybody listening, what is

807
00:40:55,080 --> 00:40:57,600
Speaker 1: your guilt free spending? What's that money dial that thing

808
00:40:57,640 --> 00:41:00,200
Speaker 1: that you love spending on? Is it clothes? Is it

809
00:41:00,239 --> 00:41:03,520
Speaker 1: eating out? Is it travel? If you spend just a

810
00:41:03,560 --> 00:41:06,000
Speaker 1: weekend using the I Will Teach You Be Rich book,

811
00:41:06,160 --> 00:41:08,799
Speaker 1: you can actually afford to spend a lot more on

812
00:41:08,840 --> 00:41:11,280
Speaker 1: that area of life that you love. That's why automation

813
00:41:11,360 --> 00:41:15,400
Speaker 1: is important. It doesn't sound like this is that powerful. Okay, automated,

814
00:41:15,440 --> 00:41:17,360
Speaker 1: I get it. I should set up some automation. I

815
00:41:17,360 --> 00:41:19,279
Speaker 1: want to tell you why this is so powerful. I

816
00:41:19,360 --> 00:41:22,160
Speaker 1: got a friend of mine who used the first edition

817
00:41:22,160 --> 00:41:25,440
Speaker 1: of the book March o nine, and she created some

818
00:41:25,480 --> 00:41:27,719
Speaker 1: automation stuff, and then she forgot about one of her

819
00:41:27,760 --> 00:41:30,840
Speaker 1: savings accounts. Okay, she forgot about it for about six years,

820
00:41:31,040 --> 00:41:33,200
Speaker 1: and she finally was doing a sweep kind of cleaning

821
00:41:33,280 --> 00:41:35,359
Speaker 1: up her accounts. It happens to a lot of us, Right,

822
00:41:35,400 --> 00:41:37,160
Speaker 1: we've got some old four oh one k at some

823
00:41:37,239 --> 00:41:40,200
Speaker 1: old job. We forget it, and she was finally organizing

824
00:41:40,200 --> 00:41:42,560
Speaker 1: it all. She logs into that account. Guess how much

825
00:41:42,560 --> 00:41:44,799
Speaker 1: money is sitting in that account? Now, no idea, tell

826
00:41:44,840 --> 00:41:50,480
Speaker 1: me twelve thousand dollars. Twelve thousand dollars just passively, and

827
00:41:50,520 --> 00:41:53,000
Speaker 1: it was just a savings account, wasn't even being invested.

828
00:41:53,560 --> 00:41:56,719
Speaker 1: So when you guys look at the numbers of what

829
00:41:56,840 --> 00:42:00,200
Speaker 1: can be accomplished, even saving a hundred dollars or even more,

830
00:42:00,360 --> 00:42:04,440
Speaker 1: as your salary increases, as your sophistication increases, these numbers

831
00:42:04,440 --> 00:42:07,080
Speaker 1: can become truly staggering. And at that point, it's not magic,

832
00:42:07,239 --> 00:42:10,279
Speaker 1: it's just math. Yeah, the stats actually show that the

833
00:42:10,320 --> 00:42:12,799
Speaker 1: best investors are the ones that have completely forgotten about

834
00:42:12,800 --> 00:42:16,600
Speaker 1: their investment accounts when they're automated, right, because they're continuing

835
00:42:16,640 --> 00:42:18,600
Speaker 1: to put money in, it's continuing to grow for them

836
00:42:18,600 --> 00:42:21,960
Speaker 1: in the market and most of us who are realized

837
00:42:21,960 --> 00:42:23,960
Speaker 1: that we have accounts that we're investing money in, we're

838
00:42:23,960 --> 00:42:26,399
Speaker 1: looking at it, we're making changes, and that's when we're

839
00:42:26,440 --> 00:42:28,920
Speaker 1: susceptible to making bad decisions. So I've always found that

840
00:42:29,040 --> 00:42:31,680
Speaker 1: to be fascinating. Um. I wanted to ask you that

841
00:42:32,280 --> 00:42:34,840
Speaker 1: there's a lot of crummy financial advice out there, and

842
00:42:34,880 --> 00:42:38,240
Speaker 1: there's also just a lot of boring and unhelpful advice

843
00:42:38,560 --> 00:42:40,920
Speaker 1: that just doesn't motivate people to actually make changes. And

844
00:42:40,960 --> 00:42:42,799
Speaker 1: so I think what I love about what you're doing

845
00:42:42,880 --> 00:42:45,040
Speaker 1: or meat is is it's the goal is to help

846
00:42:45,040 --> 00:42:47,960
Speaker 1: people actually make changes, and you really set your trajectory

847
00:42:48,040 --> 00:42:51,040
Speaker 1: towards living your own definition of a rich life. So

848
00:42:51,160 --> 00:42:53,920
Speaker 1: we totally agree with that advice. How do you encourage

849
00:42:53,960 --> 00:42:56,759
Speaker 1: others to find their idea of a rich life and

850
00:42:56,760 --> 00:42:59,600
Speaker 1: then start to implement that, well, I think the simplest

851
00:42:59,600 --> 00:43:01,520
Speaker 1: thing is to actually spend a weekend reading a good

852
00:43:01,520 --> 00:43:04,320
Speaker 1: book and not to plug my own Well, actually, I

853
00:43:04,520 --> 00:43:06,239
Speaker 1: I definitely want to plug my own book. I will

854
00:43:06,239 --> 00:43:08,239
Speaker 1: teach you to be rich, but I think that if

855
00:43:08,280 --> 00:43:11,920
Speaker 1: you truly expect to live a rich life, then you

856
00:43:11,960 --> 00:43:14,200
Speaker 1: need to get honest and you need I always say

857
00:43:14,239 --> 00:43:16,680
Speaker 1: give me ten minutes with your calendar and you're spending,

858
00:43:16,960 --> 00:43:20,319
Speaker 1: and I will show you your true priorities. If you

859
00:43:20,360 --> 00:43:23,560
Speaker 1: haven't read a single good book on personal finance, maybe

860
00:43:23,560 --> 00:43:26,440
Speaker 1: you're not really serious about your money. And if you

861
00:43:26,480 --> 00:43:30,640
Speaker 1: don't spend any time learning it or any money, maybe

862
00:43:30,640 --> 00:43:32,400
Speaker 1: you're not actually serious about it. And you know, what

863
00:43:33,000 --> 00:43:36,800
Speaker 1: better to be honest about it than to constantly feel guilty.

864
00:43:37,040 --> 00:43:40,480
Speaker 1: I think the benefit of learning about money and actually

865
00:43:40,560 --> 00:43:45,080
Speaker 1: changing your behavior is that it pays off disproportionately. So

866
00:43:45,160 --> 00:43:47,280
Speaker 1: we have these great examples of people who start investing

867
00:43:47,320 --> 00:43:50,520
Speaker 1: in their twenties and thirties and the amount of leverage

868
00:43:50,560 --> 00:43:54,919
Speaker 1: that they can get from time through compound interest. What

869
00:43:54,960 --> 00:43:58,640
Speaker 1: that means is you can start early and have time

870
00:43:59,239 --> 00:44:01,600
Speaker 1: almost like a hail wind. It's helping you go faster.

871
00:44:02,040 --> 00:44:05,120
Speaker 1: Now the later you get yes you can still save

872
00:44:05,200 --> 00:44:07,719
Speaker 1: and you can still invest, becomes a little harder. So

873
00:44:07,800 --> 00:44:10,439
Speaker 1: I think that I would encourage everyone there's no better

874
00:44:10,440 --> 00:44:14,239
Speaker 1: time than today to start. And also a lot of

875
00:44:14,280 --> 00:44:17,200
Speaker 1: people have kind of been disenchanted with money. They've been

876
00:44:17,239 --> 00:44:19,279
Speaker 1: told all the things that money is bad for. The

877
00:44:19,680 --> 00:44:21,799
Speaker 1: money makes you evil. Money is the root of all evil,

878
00:44:21,800 --> 00:44:24,520
Speaker 1: which isn't even the right quote anyway. Um, you know

879
00:44:24,800 --> 00:44:27,160
Speaker 1: you can't spend money on Latte's. All these things you

880
00:44:27,320 --> 00:44:29,800
Speaker 1: can't do, and what I'm trying to do with I

881
00:44:29,840 --> 00:44:32,440
Speaker 1: will teach me riches, show you you can actually live

882
00:44:32,480 --> 00:44:34,799
Speaker 1: a life of Yes, you can live a life of

883
00:44:35,640 --> 00:44:38,640
Speaker 1: your rich life. And I'll give you one final example here. Um,

884
00:44:38,719 --> 00:44:40,839
Speaker 1: I always ask people, just like you guys did here.

885
00:44:40,880 --> 00:44:43,719
Speaker 1: I loved it, what do you love spending on? So

886
00:44:43,800 --> 00:44:46,120
Speaker 1: let me ask both of you guys, if you would

887
00:44:46,120 --> 00:44:48,120
Speaker 1: be willing to do a quick exercise with me, maybe

888
00:44:48,120 --> 00:44:50,799
Speaker 1: our listeners can can listen along. What is the thing

889
00:44:50,840 --> 00:44:53,960
Speaker 1: that you just love spending money on? For me or

890
00:44:54,000 --> 00:44:56,760
Speaker 1: me that would be spending money on bikes. I'm actually

891
00:44:56,800 --> 00:44:59,239
Speaker 1: saving up for another bike right now. I have a

892
00:44:59,280 --> 00:45:03,839
Speaker 1: really nice cargo bike and it's more expensive than some

893
00:45:03,920 --> 00:45:05,520
Speaker 1: of the beaters that people are driving around, some of

894
00:45:05,520 --> 00:45:08,960
Speaker 1: their actual cars. So uh, I love What is a

895
00:45:08,960 --> 00:45:11,319
Speaker 1: bike like that costs? Like ballpark? The one I have

896
00:45:11,360 --> 00:45:13,279
Speaker 1: it's a little over two grand, but they can be

897
00:45:13,360 --> 00:45:16,080
Speaker 1: upwards of I mean like four to six thousand dollars

898
00:45:16,080 --> 00:45:19,439
Speaker 1: if you get the the electronic versions. But yeah, big

899
00:45:19,440 --> 00:45:23,080
Speaker 1: fans of bikes, Okay, amazing, and yeah, for me, craft beer,

900
00:45:23,120 --> 00:45:25,000
Speaker 1: we drink one on the show. It's it's very important

901
00:45:25,000 --> 00:45:27,600
Speaker 1: to us. And then on top of that, traveling once

902
00:45:27,600 --> 00:45:31,160
Speaker 1: a year somewhere awesome. And my odd thing is folk art.

903
00:45:31,239 --> 00:45:34,560
Speaker 1: I love art and I love just kind of outsider art.

904
00:45:34,600 --> 00:45:37,160
Speaker 1: So yeah, buying a nice piece of art every every

905
00:45:37,239 --> 00:45:39,799
Speaker 1: year is really important for my wife and I. Wow,

906
00:45:39,840 --> 00:45:43,520
Speaker 1: I love these answers. They're very unconventional. Okay, so now

907
00:45:43,600 --> 00:45:47,480
Speaker 1: let me ask you guys this, What if you quadruple

908
00:45:47,640 --> 00:45:52,200
Speaker 1: the amount that you spent on art and bikes? What

909
00:45:52,239 --> 00:45:54,520
Speaker 1: would that look like? What would that feel like? What

910
00:45:54,560 --> 00:45:57,839
Speaker 1: would that be to you? Man? I feel like for me,

911
00:45:57,960 --> 00:46:00,799
Speaker 1: if I spent more money on those couple two or

912
00:46:00,800 --> 00:46:04,600
Speaker 1: three things I've identified as being a huge priority to me,

913
00:46:05,000 --> 00:46:07,000
Speaker 1: it would feel like living the rich life right that

914
00:46:07,040 --> 00:46:09,279
Speaker 1: I want to live. And if I deprive myself of

915
00:46:09,320 --> 00:46:12,560
Speaker 1: those few things that I've prioritized, it bums me out.

916
00:46:12,680 --> 00:46:15,360
Speaker 1: So I think anyway that I can allocate more money

917
00:46:15,600 --> 00:46:18,480
Speaker 1: towards those couple of things that I say are important

918
00:46:18,480 --> 00:46:21,279
Speaker 1: to me, it just it makes it feel like my priorities,

919
00:46:21,360 --> 00:46:24,960
Speaker 1: my goals and the things that I've said I value,

920
00:46:25,400 --> 00:46:27,799
Speaker 1: I'm actually putting my money where my mouth is. Well,

921
00:46:27,880 --> 00:46:31,200
Speaker 1: let's get into specifics. So a rich life is lived

922
00:46:31,320 --> 00:46:33,560
Speaker 1: in the specifics. And you're going to see me push

923
00:46:33,640 --> 00:46:36,680
Speaker 1: for this right now. So right now, if you were

924
00:46:36,719 --> 00:46:40,440
Speaker 1: to quadruple you're spending on craft beer, that's a lot

925
00:46:40,480 --> 00:46:43,839
Speaker 1: of money. What would that look like? Well, in that case,

926
00:46:43,920 --> 00:46:47,279
Speaker 1: it might mean drinking too much? So okay, maybe, So

927
00:46:47,320 --> 00:46:51,600
Speaker 1: that's so interesting. You just went immediately to quantity. That's

928
00:46:51,640 --> 00:46:53,279
Speaker 1: one way to look at it. Is there another way

929
00:46:53,280 --> 00:46:55,160
Speaker 1: to look at it? Yeah? I guess I could buy

930
00:46:55,360 --> 00:46:58,600
Speaker 1: even more expensive versions of certain beers like and and

931
00:46:58,640 --> 00:47:01,359
Speaker 1: just enjoy higher quality beers. I've already kind of made

932
00:47:01,360 --> 00:47:02,760
Speaker 1: that change in my life, so I feel like, actually

933
00:47:02,800 --> 00:47:05,600
Speaker 1: my spending there it wouldn't necessarily move the needle much.

934
00:47:05,920 --> 00:47:07,680
Speaker 1: But if I were to spend more money on art,

935
00:47:07,760 --> 00:47:09,960
Speaker 1: it would move the needle for me. It would It

936
00:47:10,000 --> 00:47:12,719
Speaker 1: would be really enjoyable to have more awesome pieces in

937
00:47:12,840 --> 00:47:14,920
Speaker 1: my house that would actually move the needle. And I

938
00:47:14,920 --> 00:47:17,160
Speaker 1: can feel like, bring a lot of joy. Can I

939
00:47:17,239 --> 00:47:21,600
Speaker 1: ask a question about your craft beer? Love? Yeah? Where

940
00:47:21,600 --> 00:47:25,600
Speaker 1: do you drink this craft beer? Typically at home in

941
00:47:25,640 --> 00:47:28,080
Speaker 1: the evening? Okay? And who do you drink it with

942
00:47:29,360 --> 00:47:32,680
Speaker 1: usually a friend, but typically my wife. Okay, love it.

943
00:47:32,880 --> 00:47:34,680
Speaker 1: Allow me to paint a picture for just a second.

944
00:47:35,000 --> 00:47:39,000
Speaker 1: What if you invited five of your friends, maybe a

945
00:47:39,040 --> 00:47:41,600
Speaker 1: couple of friends from your your town, and a couple

946
00:47:41,640 --> 00:47:44,360
Speaker 1: of friends from your old college days, and you said, guys,

947
00:47:44,760 --> 00:47:48,560
Speaker 1: I'm taking everybody on a trip. We're going to a

948
00:47:48,680 --> 00:47:51,600
Speaker 1: behind the scenes tour of this craft beer that's opening

949
00:47:51,680 --> 00:47:55,080
Speaker 1: up its craft beer cave for the first time in

950
00:47:55,120 --> 00:47:58,319
Speaker 1: twenty years, and everything's on me. How would that feel

951
00:47:58,360 --> 00:48:00,799
Speaker 1: to you? Does that feel awesome? I love taking care

952
00:48:00,840 --> 00:48:04,320
Speaker 1: of my friends, and yes, so incorporating that with something

953
00:48:04,320 --> 00:48:06,080
Speaker 1: that I care about, like craft beer would be great. Yeah.

954
00:48:06,080 --> 00:48:08,120
Speaker 1: But I would also appreciate if you invited me along

955
00:48:08,120 --> 00:48:13,040
Speaker 1: that exactly. All right, So one ticket has already gone fine,

956
00:48:13,280 --> 00:48:17,000
Speaker 1: what I'm in, Hey, listen, I'm in. I've never been

957
00:48:17,040 --> 00:48:19,279
Speaker 1: to one of these things. Okay. The reason that I

958
00:48:19,360 --> 00:48:23,319
Speaker 1: use that example is that when you ask people what

959
00:48:23,360 --> 00:48:26,200
Speaker 1: do you love spending on? Just like you, guys, everybody

960
00:48:26,239 --> 00:48:30,120
Speaker 1: intuitively knows. We all have an answer. Lights our eyes up. Okay.

961
00:48:30,160 --> 00:48:34,600
Speaker 1: The most common answers I get food and travel. Mine

962
00:48:34,680 --> 00:48:37,000
Speaker 1: is convenience. Okay, I wake up in the morning My

963
00:48:37,080 --> 00:48:40,040
Speaker 1: calendar is perfect when I leave. When I travel, I

964
00:48:40,040 --> 00:48:42,640
Speaker 1: have this thing called a travel protocol that gets activated.

965
00:48:42,880 --> 00:48:46,520
Speaker 1: My assistant has someone somehow coming and water my plants.

966
00:48:46,560 --> 00:48:48,359
Speaker 1: I mean, I know I sound like a psycho, but

967
00:48:48,880 --> 00:48:51,799
Speaker 1: this is what I love. Okay. Now, The interesting thing

968
00:48:51,840 --> 00:48:54,400
Speaker 1: is when I ask people what if you quadrupled you're spending?

969
00:48:55,360 --> 00:48:59,439
Speaker 1: They get totally stuck because most of us have never

970
00:48:59,480 --> 00:49:02,920
Speaker 1: thought about what it would be like to spend extravagantly

971
00:49:03,200 --> 00:49:06,600
Speaker 1: on the things we love. We're stuck in a mentality

972
00:49:06,640 --> 00:49:10,680
Speaker 1: of cutting back, and we've created an artificial plateau for ourselves.

973
00:49:10,840 --> 00:49:14,000
Speaker 1: I like craft beer. I already buy a nice beer.

974
00:49:14,560 --> 00:49:17,640
Speaker 1: If I spend more, I just drink too much. Maybe

975
00:49:17,960 --> 00:49:21,200
Speaker 1: because you limited yourself by only thinking about quantity. But

976
00:49:21,280 --> 00:49:24,640
Speaker 1: what if you completely change that and you change the experience.

977
00:49:24,880 --> 00:49:26,600
Speaker 1: What if you brought your friends and family law, What

978
00:49:26,719 --> 00:49:28,680
Speaker 1: if you went to a private tour. What if you

979
00:49:28,760 --> 00:49:32,719
Speaker 1: had your own custom craft beer created. I'm thinking crazy now,

980
00:49:33,520 --> 00:49:35,080
Speaker 1: and this is what I want people to do. I

981
00:49:35,120 --> 00:49:38,719
Speaker 1: call this concept money dials. We've all got a money dial.

982
00:49:38,920 --> 00:49:40,960
Speaker 1: A money dial is something we love spending on, and

983
00:49:41,000 --> 00:49:43,560
Speaker 1: you can turn that dial way up. You can turn

984
00:49:43,600 --> 00:49:46,719
Speaker 1: it two x three x four x ten x. And

985
00:49:46,760 --> 00:49:50,480
Speaker 1: it's not just about quantity. You can actually change the experience.

986
00:49:50,920 --> 00:49:54,240
Speaker 1: You can have custom classes, you can bring people along,

987
00:49:54,320 --> 00:49:56,800
Speaker 1: you can do all kinds of stuff. And so when people,

988
00:49:56,800 --> 00:49:59,600
Speaker 1: for example, say I love to eat out. That's an

989
00:49:59,600 --> 00:50:01,759
Speaker 1: awesome I like to encourage them. They think I'm gonna

990
00:50:01,840 --> 00:50:03,719
Speaker 1: judge them. I say, tell me more, what if you

991
00:50:03,719 --> 00:50:06,239
Speaker 1: could quadruple you're spending? So they say, I eat out

992
00:50:06,280 --> 00:50:09,360
Speaker 1: every day. I say, great, what kind of places? And

993
00:50:09,360 --> 00:50:11,400
Speaker 1: they've never thought about this. Oh my god, I'd go

994
00:50:11,480 --> 00:50:14,200
Speaker 1: to every Michelin starred restaurant in the city. Oh my god,

995
00:50:14,280 --> 00:50:16,759
Speaker 1: who would you bring? And now there I start to

996
00:50:16,840 --> 00:50:19,960
Speaker 1: light up. They realize that by turning their money dial up,

997
00:50:20,120 --> 00:50:22,800
Speaker 1: they can actually create a vision of a rich life.

998
00:50:23,440 --> 00:50:26,880
Speaker 1: This is why if you sit down and decide what

999
00:50:26,960 --> 00:50:29,480
Speaker 1: your rich life is, and you really push yourself, you

1000
00:50:29,520 --> 00:50:33,319
Speaker 1: can actually spend extravagantly on the things you love. But

1001
00:50:33,360 --> 00:50:36,959
Speaker 1: you've got to cut costs mercilessly on the things you don't. Yeah,

1002
00:50:37,000 --> 00:50:38,520
Speaker 1: you know, and me so much of that too, you know,

1003
00:50:38,560 --> 00:50:40,920
Speaker 1: my knee jerk reaction. I mentioned bikes. But the more

1004
00:50:41,160 --> 00:50:43,520
Speaker 1: I'm sitting here hearing you talk about this, it makes

1005
00:50:43,520 --> 00:50:45,960
Speaker 1: me think of maybe the obvious thing that skipped over,

1006
00:50:46,040 --> 00:50:48,799
Speaker 1: which was my family, like my kids. And for me,

1007
00:50:48,960 --> 00:50:52,560
Speaker 1: I could see myself finding ways to continue to kind

1008
00:50:52,560 --> 00:50:55,439
Speaker 1: of crank that dial up and easily find ways to

1009
00:50:55,560 --> 00:50:58,680
Speaker 1: spend more money on my family with the different experiences

1010
00:50:58,760 --> 00:51:01,240
Speaker 1: that we could kind of go on together, the different trips,

1011
00:51:01,600 --> 00:51:04,520
Speaker 1: because I'm kind of a cheap guy when it comes

1012
00:51:04,560 --> 00:51:07,359
Speaker 1: to you know, like my own possessions and maybe our

1013
00:51:07,400 --> 00:51:09,600
Speaker 1: own experiences. But but like you said, when you start

1014
00:51:09,600 --> 00:51:11,840
Speaker 1: looking to others, you start looking to either your community,

1015
00:51:11,880 --> 00:51:15,080
Speaker 1: your friends, and to your family. Why, like, it's almost

1016
00:51:15,080 --> 00:51:17,759
Speaker 1: limitless as far as the the amount of joy that

1017
00:51:17,760 --> 00:51:21,040
Speaker 1: those different relationships can bring you. That's exactly it. That's

1018
00:51:21,040 --> 00:51:23,080
Speaker 1: what I want to show people. And in order to

1019
00:51:23,160 --> 00:51:25,200
Speaker 1: do that, you need to implement the lessons of I

1020
00:51:25,239 --> 00:51:27,160
Speaker 1: will teach you be rich. But you can see that

1021
00:51:27,440 --> 00:51:30,520
Speaker 1: it becomes less about money at a certain point once

1022
00:51:30,560 --> 00:51:33,560
Speaker 1: you have your investments automated and your savings accounts set up,

1023
00:51:33,719 --> 00:51:37,160
Speaker 1: and it actually becomes your rich life, limited only by

1024
00:51:37,280 --> 00:51:40,560
Speaker 1: your imagination. That's why the stories in this book are

1025
00:51:40,600 --> 00:51:43,640
Speaker 1: so important, because you can see how other smart people

1026
00:51:44,160 --> 00:51:47,120
Speaker 1: decided to create their rich lives and they can inspire you.

1027
00:51:47,920 --> 00:51:50,040
Speaker 1: That's awesome. And met folks can find you there at

1028
00:51:50,080 --> 00:51:52,000
Speaker 1: your site that I will teach you to be rich

1029
00:51:52,120 --> 00:51:55,040
Speaker 1: dot com. Man, this has been such a fun conversation.

1030
00:51:55,080 --> 00:51:57,680
Speaker 1: We are We're really stoked to have had you join us.

1031
00:51:57,960 --> 00:52:00,040
Speaker 1: Thanks so much for sharing some stories with us and

1032
00:52:00,040 --> 00:52:02,200
Speaker 1: and talking to us today. Oh it's my pleasure. Thank

1033
00:52:02,239 --> 00:52:04,239
Speaker 1: you guys both for having me. I really appreciate it.

1034
00:52:04,320 --> 00:52:06,080
Speaker 1: Thanks for meat all right, Matt, that was such a

1035
00:52:06,080 --> 00:52:08,680
Speaker 1: great conversation with Through meat, I feel like we've covered

1036
00:52:08,680 --> 00:52:10,400
Speaker 1: a lot of ground and I hope our listeners were

1037
00:52:10,400 --> 00:52:11,640
Speaker 1: able to take away a lot from this. I know

1038
00:52:11,680 --> 00:52:13,680
Speaker 1: I learned some stuff in this conversation. It was just

1039
00:52:13,719 --> 00:52:16,480
Speaker 1: fun to talk to a veteran basically in the personal

1040
00:52:16,480 --> 00:52:18,680
Speaker 1: finance space. Right, he's been doing this for for well

1041
00:52:18,719 --> 00:52:20,960
Speaker 1: over ten years, I mean I think closer to twenty now.

1042
00:52:21,400 --> 00:52:23,359
Speaker 1: And yeah, it's a lot of fun. So let's share

1043
00:52:23,360 --> 00:52:25,600
Speaker 1: our big takeaways. Like, what's the biggest thing you took

1044
00:52:25,600 --> 00:52:27,839
Speaker 1: away from this conversation? Yeah, Juel. For me, I think

1045
00:52:27,840 --> 00:52:30,680
Speaker 1: it had to do with negotiating. He mentioned how I

1046
00:52:30,719 --> 00:52:32,520
Speaker 1: think it was his mom that said, well you can

1047
00:52:32,560 --> 00:52:34,759
Speaker 1: always ask like it doesn't hurt to ask. All they

1048
00:52:34,760 --> 00:52:37,759
Speaker 1: can say is no and to be polite, and that

1049
00:52:37,800 --> 00:52:41,920
Speaker 1: it's not necessarily this sort of adversarial situation where one

1050
00:52:41,960 --> 00:52:44,400
Speaker 1: person loses and the other person wins. It can be

1051
00:52:44,440 --> 00:52:47,480
Speaker 1: this dance where both parties win, everybody comes out ahead,

1052
00:52:47,520 --> 00:52:50,319
Speaker 1: everybody's happy. It's like a tango, that fancy dance that

1053
00:52:50,360 --> 00:52:52,600
Speaker 1: you love to do, the tango. But I just think

1054
00:52:52,640 --> 00:52:55,239
Speaker 1: that something that we don't do enough is whether it

1055
00:52:55,320 --> 00:52:57,799
Speaker 1: be asking for a discount or finding ways to see

1056
00:52:57,800 --> 00:53:00,520
Speaker 1: if we can pay less, we don't advocate for ourselves enough.

1057
00:53:00,960 --> 00:53:03,359
Speaker 1: Um and and it's because oftentimes we feel like that

1058
00:53:03,440 --> 00:53:05,960
Speaker 1: we're putting somebody else at a disadvantage when a lot

1059
00:53:05,960 --> 00:53:07,960
Speaker 1: of times that's just not the case. So hearing him

1060
00:53:08,040 --> 00:53:11,360
Speaker 1: talk about negotiating that it's this this dance, this tango

1061
00:53:11,600 --> 00:53:13,919
Speaker 1: where both parties when that really stuck with me. Yeah,

1062
00:53:13,920 --> 00:53:16,919
Speaker 1: that's a great one. Yeah, So for Ugual what stood out. Yeah,

1063
00:53:16,920 --> 00:53:19,240
Speaker 1: for me, my big takeaway was to combat the money

1064
00:53:19,239 --> 00:53:21,480
Speaker 1: scripts that you've been fed for your entire life. I

1065
00:53:21,480 --> 00:53:23,279
Speaker 1: think there are things that we believe about money. I

1066
00:53:23,320 --> 00:53:25,040
Speaker 1: know there are things that I believed about money based

1067
00:53:25,040 --> 00:53:26,920
Speaker 1: on the way I was raised For a lot of

1068
00:53:27,000 --> 00:53:28,920
Speaker 1: years and it was kind of underneath the surface. I

1069
00:53:28,920 --> 00:53:31,000
Speaker 1: couldn't even identify it. And so I think when I

1070
00:53:31,040 --> 00:53:33,279
Speaker 1: began to kind of unearth my feelings about money in

1071
00:53:33,320 --> 00:53:36,200
Speaker 1: my life and and kind of combat what's true and

1072
00:53:36,239 --> 00:53:38,880
Speaker 1: what's not true, it's been really helpful towards having a

1073
00:53:38,920 --> 00:53:41,040
Speaker 1: healthier relationship with money. And so I think there are

1074
00:53:41,080 --> 00:53:43,239
Speaker 1: a lot of things that we might not even be

1075
00:53:43,440 --> 00:53:45,799
Speaker 1: aware of in our minds, and it takes kind of

1076
00:53:45,840 --> 00:53:48,000
Speaker 1: looking beneath the surface to see what money scripts have

1077
00:53:48,080 --> 00:53:51,040
Speaker 1: we been fed during our childhood or from friends or

1078
00:53:51,040 --> 00:53:53,399
Speaker 1: from a spouse, and they lead to a lot of

1079
00:53:53,520 --> 00:53:56,839
Speaker 1: money struggles that we have in our lives. And so identifying,

1080
00:53:57,160 --> 00:53:59,360
Speaker 1: being aware of and then starting to wrestle with some

1081
00:53:59,400 --> 00:54:01,520
Speaker 1: of those moneys crips that we've been fed can make

1082
00:54:01,560 --> 00:54:05,160
Speaker 1: a big impact on how you relate to money from

1083
00:54:05,200 --> 00:54:07,239
Speaker 1: here on out. Nice. Yeah, that's the true, right, Like

1084
00:54:07,280 --> 00:54:08,920
Speaker 1: a lot of times we're not even aware that those

1085
00:54:08,920 --> 00:54:10,839
Speaker 1: scripts are kind of running in the background there. They're

1086
00:54:10,880 --> 00:54:13,200
Speaker 1: sort of like the default operating system that are our

1087
00:54:13,239 --> 00:54:15,040
Speaker 1: brains are sort of working on when it comes to

1088
00:54:15,080 --> 00:54:16,920
Speaker 1: how we think about money. Yeah, And by the way,

1089
00:54:16,960 --> 00:54:18,880
Speaker 1: we don't have a beer to review on the show. Today,

1090
00:54:19,000 --> 00:54:21,000
Speaker 1: we had cold brew because we had a morning conversation

1091
00:54:21,080 --> 00:54:23,640
Speaker 1: with remat Matt, how is your coffee? It was it

1092
00:54:23,680 --> 00:54:26,040
Speaker 1: was very delicious. You know, we've talked about coffee before,

1093
00:54:26,360 --> 00:54:27,919
Speaker 1: and I think a lot of times folks here cold

1094
00:54:27,920 --> 00:54:29,600
Speaker 1: brew and they're not totally sure what that means. But

1095
00:54:29,960 --> 00:54:31,560
Speaker 1: for us, you and me, we both make our cold

1096
00:54:31,560 --> 00:54:32,880
Speaker 1: brew this way. But all you have to do is

1097
00:54:32,920 --> 00:54:35,560
Speaker 1: just grind up some beans, dump into mason jar, and

1098
00:54:35,600 --> 00:54:38,960
Speaker 1: fill it up with water. Let it sit overnight, preferably

1099
00:54:39,120 --> 00:54:41,640
Speaker 1: like twenty four hours to where it really steeps and

1100
00:54:41,680 --> 00:54:44,759
Speaker 1: all that coffee delicious flavor kind of infuses into the

1101
00:54:44,800 --> 00:54:47,279
Speaker 1: water and boom, that's cold brew. You can either then

1102
00:54:47,440 --> 00:54:50,279
Speaker 1: filter it with a French press or in our case,

1103
00:54:50,320 --> 00:54:52,400
Speaker 1: we always use our chem X so it actually filters

1104
00:54:52,400 --> 00:54:54,479
Speaker 1: through the paper and because of that we have zero

1105
00:54:54,520 --> 00:54:57,319
Speaker 1: sediment in the actual coffee. Sometimes folks get turned off

1106
00:54:57,320 --> 00:54:59,359
Speaker 1: by cold brew at home because sometimes it can lead

1107
00:54:59,360 --> 00:55:01,600
Speaker 1: to sediment in your coffee. But that's one way around it,

1108
00:55:01,640 --> 00:55:04,399
Speaker 1: is to actually filter it like you would regular drip. Yeah,

1109
00:55:04,400 --> 00:55:07,040
Speaker 1: and I love cold brew, especially in the warmer summer months.

1110
00:55:07,200 --> 00:55:09,080
Speaker 1: And by the way, don't fret. We're going back to

1111
00:55:09,120 --> 00:55:11,440
Speaker 1: craft for your next episode, we promised. And also we

1112
00:55:11,480 --> 00:55:14,080
Speaker 1: need to mention Matthew, we are giving away copies of

1113
00:55:14,239 --> 00:55:16,719
Speaker 1: Vermat's book. This giveaway is open to folks that have

1114
00:55:16,800 --> 00:55:19,279
Speaker 1: already left a review on Apple Podcast for us, or

1115
00:55:19,320 --> 00:55:21,440
Speaker 1: are willing to leave a review this week. Once you

1116
00:55:21,520 --> 00:55:23,600
Speaker 1: leave a review, all you gotta do is shoot us

1117
00:55:23,600 --> 00:55:26,160
Speaker 1: an email at how to Money Pod at gmail dot

1118
00:55:26,160 --> 00:55:28,560
Speaker 1: com with the user name you left your review under,

1119
00:55:28,800 --> 00:55:31,279
Speaker 1: and you're automatically entered to win. And if you don't

1120
00:55:31,360 --> 00:55:33,680
Speaker 1: have an iPhone, you can leave a review on Stitcher

1121
00:55:33,960 --> 00:55:36,279
Speaker 1: via your web browser or your phone. And you have

1122
00:55:36,440 --> 00:55:38,680
Speaker 1: till Friday at noon to leave this review and then

1123
00:55:38,760 --> 00:55:41,600
Speaker 1: let us know in order to be entered into this giveaway. Yeah,

1124
00:55:41,680 --> 00:55:45,200
Speaker 1: high noon Friday. Be there, Hi, knew that's where you

1125
00:55:45,200 --> 00:55:47,160
Speaker 1: have the gun duels right in the in the in

1126
00:55:47,200 --> 00:55:49,120
Speaker 1: the wild West. Yeah. So again, we were excited to

1127
00:55:49,160 --> 00:55:50,799
Speaker 1: have re Meat on. If you want to learn more

1128
00:55:50,840 --> 00:55:52,799
Speaker 1: about him, you can go to his website at I

1129
00:55:52,800 --> 00:55:54,920
Speaker 1: Will Teach You to Be Rich dot com. And we

1130
00:55:55,000 --> 00:55:57,279
Speaker 1: also have all those links listed out in our show notes,

1131
00:55:57,280 --> 00:55:59,320
Speaker 1: which you can find on our websites at how to

1132
00:55:59,400 --> 00:56:01,480
Speaker 1: Money dot com um. Alright, buddy, this is a fun one.

1133
00:56:01,640 --> 00:56:04,879
Speaker 1: Until next time. Best friends out, Best friends out,