WEBVTT - How to Go From $10K in Debt to Financial Freedom

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<v Speaker 1>Okay, let's do a hypothetical question. If you woke up

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<v Speaker 1>with a lump sum of fifty thousand dollars with no assets,

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<v Speaker 1>no investment, no car, no savings, ten thousand dollars in debt,

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<v Speaker 1>and five hundred credit score, how would you use that

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<v Speaker 1>fifty thousand dollars to change your life?

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<v Speaker 2>This is a great question. I appreciate it. I would

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<v Speaker 2>allocate equally weighted.

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<v Speaker 3>To Tech two index. Listen.

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<v Speaker 2>I'm gonna be real, whether you have fifty thousand or

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<v Speaker 2>fifty million. If you want an easy return, you get

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<v Speaker 2>concentration into tech to index and you get diversification. A

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<v Speaker 2>lot of times we want a complicated answer because we

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<v Speaker 2>want life to be more complicated than it needs to be.

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<v Speaker 2>We talked about it last week, like all the athletes

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<v Speaker 2>who are investing, and shout out to all you guys

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<v Speaker 2>who reached out. But a lot of times you're looking

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<v Speaker 2>for an exotic instrument or investment to invest in when

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<v Speaker 2>you just need a solid return. So I would break

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<v Speaker 2>them money up into four parts. I will put it

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<v Speaker 2>into v oh VT. I, I will put two tech companies.

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<v Speaker 2>I will probably lean at this time towards Google and

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<v Speaker 2>n Video for the two, and I will hold a

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<v Speaker 2>four or five year period. Pay your bills on time

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<v Speaker 2>if you can. But uh, the what would you do

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<v Speaker 2>if you would start over? A question I was ascesed

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<v Speaker 2>a lot of the podcast Summit. The other part of

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<v Speaker 2>advice that most people don't want to give you is

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<v Speaker 2>when you get on the mountain of financial freedom, your

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<v Speaker 2>job is to not slide down the mountain and lose

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<v Speaker 2>the money.

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<v Speaker 4>So I know you are you touching that debt, that

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<v Speaker 4>ten that ten K and debt?

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<v Speaker 3>I mean, honestly no, I will wait three or four years.

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<v Speaker 4>I will wait.

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<v Speaker 2>But because if you look at the return basis that

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<v Speaker 2>ten K and capital in five.

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<v Speaker 3>Years may be one twenty. Well let's be conservative and

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<v Speaker 3>say sixty.

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<v Speaker 2>Okay, the return on you're not going to get that

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<v Speaker 2>money back or the time. The most important thing and

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<v Speaker 2>why I say listen to the first time you can

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<v Speaker 2>get the opportunity to buy another stock on a dip

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<v Speaker 2>or a crash. You can't get the time back though.

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<v Speaker 2>That's why we always look back in black Man. Though

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<v Speaker 2>I wish we knew this in two thousand and six

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<v Speaker 2>or two thousand and five when Apple was Da Da

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<v Speaker 2>Da Da Da.

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<v Speaker 3>You can't get the time back though, so I would

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<v Speaker 3>wait to pay off the day.

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<v Speaker 2>I would deploy the money into the market and hopeful

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<v Speaker 2>a long period of time, hopeful five or ten years.

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<v Speaker 3>You'll be okay, what about you, guys, I'm with you.

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<v Speaker 4>I'm with you. I'm holding off on the debt.

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<v Speaker 5>Which is why I asked, because I figured you would

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<v Speaker 5>say that, Yeah, I think your game plan is not bulletproof,

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<v Speaker 5>but it's a pretty strong case. I think I would

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<v Speaker 5>do you know something is very similar ETFs for sure, Yeah,

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<v Speaker 5>strong ETFs semiconductor technology, and then I would probably look

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<v Speaker 5>consumer discretionary just because of how it's performed over the

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<v Speaker 5>past ten years, not so much I was performing over

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<v Speaker 5>the past.

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<v Speaker 6>Two and then I have I would have one like very.

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<v Speaker 5>Specific, like a drama would be a perfect example of

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<v Speaker 5>a semiconductor high Yeah, I call it like you know,

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<v Speaker 5>you have the ale when we think of semiconductors in

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<v Speaker 5>the supermarket. But there's like that backshelf that has specialized things,

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<v Speaker 5>and so the memory piece would be one of example

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<v Speaker 5>that I would have an ETF to create that that

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<v Speaker 5>label that table that I like to talk about, like

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<v Speaker 5>have a strong table and build on top of it.

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<v Speaker 4>So I would do that. I would do that.

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<v Speaker 3>I'll definitely market about you.

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<v Speaker 1>Yeah, for sure, definitely the same thing. You gott to

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<v Speaker 1>invest your money into the stock market at all times.

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<v Speaker 1>You know that's MH has done very well for me,

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<v Speaker 1>TSM has done well. I think Microsoft is at a

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<v Speaker 1>by point, is believe it's the lowest as far as

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<v Speaker 1>out of the major Max seven companies. I think it's

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<v Speaker 1>at the lowest point from it's all time high as

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<v Speaker 1>far as the buy potential for that one particular. QQQ

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<v Speaker 1>is always gonna be something that you can invest in.

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<v Speaker 1>I strongly believe in QQQ because it's just how can

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<v Speaker 1>QQQ fail If you really think about it. QQQ is

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<v Speaker 1>probably the strongest instructory. It's probably the strongest thing that

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<v Speaker 1>you can invest.

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<v Speaker 2>In, and probably a perfect concentration of a et I've

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<v Speaker 2>not to cut you off, but that agree on thousand percent.

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<v Speaker 1>Yeah, because there's really no flaws in it. As far

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<v Speaker 1>as if you're saying if you believe that technology is

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<v Speaker 1>going to lead the future, which I think everybody at

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<v Speaker 1>this point in time believes that technology is going to

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<v Speaker 1>lead the future, well, q QQQ is made up of

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<v Speaker 1>the top technology companies and it rebalances itself over the

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<v Speaker 1>course of time. Like I said, the number three holding

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<v Speaker 1>in QQQ is Micron. Now, five years ago Micron wasn't

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<v Speaker 1>it wasn't even thought of what So, no matter what happens,

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<v Speaker 1>no matter what happens, as long as you have QQQ,

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<v Speaker 1>you're good. You're going like, okay, me personally, I have

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<v Speaker 1>an IRA. My IRA is in QQQ because I just

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<v Speaker 1>believe that the long term, when I'm talking about thirty

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<v Speaker 1>years down the line, technology companies are going to give

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<v Speaker 1>the best rate of return. And instead of maybe picking

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<v Speaker 1>one or two technology companies, I'll just say I'll just

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<v Speaker 1>have the leader in the technology space and I don't

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<v Speaker 1>have to worry about rebouncing it because it's going to

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<v Speaker 1>be rebounced anyway.

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<v Speaker 2>And for the person who was asking. And of course

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<v Speaker 2>the rate of debt. So if you got ten K

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<v Speaker 2>worth the debt and you had a thirty five percent

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<v Speaker 2>in just right pay it off. But from my like

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<v Speaker 2>I've been debt free since twenty eighteen, you always go

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<v Speaker 2>back and do revision. It's history and calculation. I paid

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<v Speaker 2>the debt. Being debt free is a flat shot.

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<v Speaker 4>A Yadam.

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<v Speaker 2>The remaining twenty eight thousand dollars payment that I paid

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<v Speaker 2>to be out of debt. That payment costs me three

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<v Speaker 2>hundred and sixty four thousand dollars to everybody, like you know,

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<v Speaker 2>I pay off the debt first. Trust me, you're going

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<v Speaker 2>to miss out on substantial upside in a tech tailwind

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<v Speaker 2>that you're not going to be able to get that

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<v Speaker 2>time back. Was it a great feeling to be debt free? Absolutely?

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<v Speaker 2>If I can do it again. Though what I have

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<v Speaker 2>let the returns run up and then pay it off.

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<v Speaker 2>So it's not an either or. It's a better allocation

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<v Speaker 2>of money going into tech companies first, taking some out

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<v Speaker 2>letting the rest roll over than being okay, so I

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<v Speaker 2>get it. I've because you know I'm anti debt, but

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<v Speaker 2>I'm telling you you're going to miss out on some

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<v Speaker 2>substantial amounts of money knocking down the debt first. And

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<v Speaker 2>for those who are anti Dave Ramsey, that's the one

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<v Speaker 2>thing that I disagree with, is knocking down the debts

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<v Speaker 2>first and not deploying the capital into the market.

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<v Speaker 3>But at this point, like you said, you can't say

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<v Speaker 3>the world do what you want to do.

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<v Speaker 4>Like you.

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<v Speaker 1>Want to do QQQ. It's in five years, in ten years.

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<v Speaker 1>The last ten years is up five hundred and fifty

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<v Speaker 1>five percent, like I said, and that's just easy, Like

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<v Speaker 1>you could be you don't even have to be an

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<v Speaker 1>intelligent person. Yeah, you don't even have to be an

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<v Speaker 1>intelligent person. You can literally not even Red Wall Street Journal.

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<v Speaker 1>You don't gotta watch market one day. You don't got

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<v Speaker 1>to do anything. Like if you invest in Micron, if

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<v Speaker 1>you're investing in the stocks that Troy is talking about

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<v Speaker 1>and you know the options, you gotta kind of do research,

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<v Speaker 1>You gotta you gotta kind of be in it. You

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<v Speaker 1>gotta be in it to win it. But you could

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<v Speaker 1>be you could be a passive aggressive Let's be a

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<v Speaker 1>passive investor and you would have made five hundred percent

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<v Speaker 1>in ten years.

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<v Speaker 2>Listen, Crystal May put in ten grand and twenty twenty

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<v Speaker 2>twenty six of three hundred market.

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<v Speaker 3>To ever invest in.

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<v Speaker 2>I want and I want everyone to watch it tonight

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<v Speaker 2>to answer, what are you so damn afraid of? This

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<v Speaker 2>is in two thousand and two, when it was like

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<v Speaker 2>a vortex of information was hidden from us.

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<v Speaker 3>This is the easiest concentration.

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<v Speaker 2>Like the rustle because of Bloom is up twenty two percent,

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<v Speaker 2>Like we're talking about numbers. If we hit these or

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<v Speaker 2>if I propose in twenty ten, I can get you

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<v Speaker 2>twenty two percent. You thought would have thought I was

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<v Speaker 2>braining made off hole for the long term. If you

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<v Speaker 2>want to get rich from the market, go to einvest

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<v Speaker 2>dot com, enjoining red Panda. Please che qq versus check

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<v Speaker 2>qq E and both financial threesome. Quit asking that question,

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<v Speaker 2>both q qq I QQQE. Do what y'all trying to

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<v Speaker 2>do when y'all go to the party, Put them all

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<v Speaker 2>in the room and have a blast financial threesome. Buy

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<v Speaker 2>all of them, hold them for ten years, like you

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<v Speaker 2>can't do in your relationship life. If your relationship with

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<v Speaker 2>life gonna be cold, let the accounts be warm, my boy,

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<v Speaker 2>back to you, y'a'll be trying to add a freak

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<v Speaker 2>officer to invest vest and make them accounts freak.

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<v Speaker 4>Off right allegedly, Please.

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<v Speaker 3>Joseph, go see John O'Brien speaking in the morning.

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<v Speaker 4>Boy, Please go with you.

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<v Speaker 2>You need to go get some q q Q. Please

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<v Speaker 2>go listen to Black Rocks speaking the morning.

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<v Speaker 1>Leg Thank you, Oh Michael Taylor Laden round sale. So

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<v Speaker 1>it this has been happening pretty regularly now, but telling

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<v Speaker 1>bitcoin to pay company dividends.

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<v Speaker 4>Amongst other things.

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<v Speaker 2>I wanted to ask you, my brother, because you're in

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<v Speaker 2>the international exchurgeon. I was wondering, because it's an international asset.

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<v Speaker 2>In your leisure time on the beach, everybody, everything has

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<v Speaker 2>been earned, right was is this a cause of concern

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<v Speaker 2>for you about allegedly about them selling three or four

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<v Speaker 2>thousand coins?

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<v Speaker 1>Michael Sailor, I think that the strategy of becoming a

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<v Speaker 1>big coin treasury company because Micae's strategy was a software company.

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<v Speaker 3>That sells no software right now, Well, the dividends are

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<v Speaker 3>the software.

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<v Speaker 1>But yeah, they're a software company that became a big

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<v Speaker 1>coin treasury company. So okay. If your business model is

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<v Speaker 1>to become a big coin treasury company, that's your business model.

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<v Speaker 1>I think you have to have more to it than that,

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<v Speaker 1>because what happens when bigcoin goes down? How do you

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<v Speaker 1>raise capital? How do you pay expenses, how do you

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<v Speaker 1>pay dividends? How do you keep shareholders? Like there is there?

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<v Speaker 1>Are you going to use bigcoin as leverage to buy

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<v Speaker 1>real estate in the real world?

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<v Speaker 4>Like?

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<v Speaker 1>I think that the business model has to expand and

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<v Speaker 1>involve evolve others than buy as much as much bitcoin

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<v Speaker 1>as we possibly can, and then hold it for as

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<v Speaker 1>long as we possibly can. I don't think that that's

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<v Speaker 1>a sustainable business model. There's no revenue that's coming in.

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<v Speaker 1>It's not protection from falls like this. What's happening, what's

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<v Speaker 1>been happening, doesn't protect you in the band market. It

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<v Speaker 1>doesn't lead to growth outside of just you're at the

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<v Speaker 1>whim of bitcoin. So Bitcoin's gonna be fine. I'm not

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<v Speaker 1>worried about bitcoin. I believe in bitcoin. I'm not worried

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<v Speaker 1>about bitcoin micro strategy. I think that they have they're

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<v Speaker 1>not it's not over because they still have a lot

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<v Speaker 1>of bitcoin, but they have to really rethink their business

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<v Speaker 1>model and it has to become bigger. Then let's just

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<v Speaker 1>borrow as much money as possis we can to buy

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<v Speaker 1>as much bigcoin as we possibly can.

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<v Speaker 2>And I've said it before, it's early reminiscent when Kathy

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<v Speaker 2>went to kudos to everyone in our Love You Dearly

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<v Speaker 2>also too, when Brad Gersner is there and they asked

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<v Speaker 2>them about Bigcoin. I noticed Michael has been noticeably missing

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<v Speaker 2>from those Trump meetings. Nicki Minaj just pop it up

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<v Speaker 2>with Trump and Michael sayn.

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<v Speaker 1>She said, Nicki Mina, She's hot.

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<v Speaker 4>Yeah, about a year ago.

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<v Speaker 5>These are my same settlements about Michael Sailor and Michael Strategy.

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<v Speaker 5>I just didn't the business model wasn't making enough sense

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<v Speaker 5>for me, So I'm not invested in it just for transparency.

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<v Speaker 5>But when somebody changes their thesis and doesn't change the

0:12:53.600 --> 0:12:56.880
<v Speaker 5>business model, that's that is concerning to me.

0:12:57.320 --> 0:12:57.480
<v Speaker 4>Right.

0:12:57.520 --> 0:13:02.439
<v Speaker 5>The thesis used to be, hey, we're gonna buy it. Yeah,

0:13:02.760 --> 0:13:04.400
<v Speaker 5>it doesn't matter. The price is gonna go up.

0:13:05.000 --> 0:13:07.079
<v Speaker 3>That's the number one red.

0:13:06.920 --> 0:13:10.560
<v Speaker 6>Flag though, price we're never selling.

0:13:12.240 --> 0:13:16.800
<v Speaker 2>Now that's the right thesis, and really quick shout the

0:13:16.800 --> 0:13:18.800
<v Speaker 2>financial conspiratory. I'm not beating up on you guy, but

0:13:20.080 --> 0:13:23.320
<v Speaker 2>to offer five other products, and just from a business

0:13:23.320 --> 0:13:26.319
<v Speaker 2>case study, it's often better to put the new features

0:13:26.320 --> 0:13:28.280
<v Speaker 2>into the main product, opposed to making a bunch of

0:13:28.320 --> 0:13:33.120
<v Speaker 2>derivative products. It's much better to do that. Open AI

0:13:33.240 --> 0:13:37.480
<v Speaker 2>had this issue early. Too many models that and it's

0:13:37.480 --> 0:13:43.760
<v Speaker 2>confusing to the average person. But once again, people only

0:13:43.800 --> 0:13:45.200
<v Speaker 2>believed in the vision.

0:13:47.000 --> 0:13:47.880
<v Speaker 3>Because of the game.

0:13:50.559 --> 0:13:53.319
<v Speaker 2>Josh Brown came up here and told you when I

0:13:53.320 --> 0:13:55.400
<v Speaker 2>asked him about it, and it was clear as day

0:13:55.480 --> 0:13:57.240
<v Speaker 2>like this, and this is why you have to study

0:13:57.360 --> 0:14:00.640
<v Speaker 2>the financial products in the history of them going back

0:14:00.640 --> 0:14:02.320
<v Speaker 2>back to that reading fifty pages a day.

0:14:02.800 --> 0:14:04.480
<v Speaker 3>The case study for this.

0:14:04.480 --> 0:14:08.120
<v Speaker 2>Model does not work very well well, and I also

0:14:08.160 --> 0:14:10.520
<v Speaker 2>said they're going to attack comp and he's under attack.

0:14:11.240 --> 0:14:13.920
<v Speaker 4>And the question becomes, how sustainable is it?

0:14:14.120 --> 0:14:18.840
<v Speaker 5>Yes, when bagitcoin is, you know, moving, and you're seeing

0:14:18.840 --> 0:14:24.080
<v Speaker 5>that appreciation, great, right, but buying does matter and gratefully

0:14:24.120 --> 0:14:28.239
<v Speaker 5>for him. Right, it's been consolidating in the sixty thousands.

0:14:29.000 --> 0:14:32.160
<v Speaker 5>Had this thing got down to fifty forty thousand forties,

0:14:33.440 --> 0:14:38.000
<v Speaker 5>this would be a very drastic conversation. It has been consolidating.

0:14:38.160 --> 0:14:40.800
<v Speaker 5>Is it an asset that will appreciate? Of course, we

0:14:41.080 --> 0:14:43.960
<v Speaker 5>see it. We'd still believe in it. But the business

0:14:44.000 --> 0:14:45.600
<v Speaker 5>models that they have, I'm just trying to figure out,

0:14:45.600 --> 0:14:47.600
<v Speaker 5>what where's the revenue? Oh, we'll just buy, We'll just buy,

0:14:47.600 --> 0:14:49.480
<v Speaker 5>it'll appreciate. Well, what happens when it doesn't?

0:14:50.720 --> 0:14:51.080
<v Speaker 4>Right now?

0:14:51.120 --> 0:14:53.720
<v Speaker 5>I gotta how do we pay dividends? Well, we got

0:14:53.720 --> 0:14:55.600
<v Speaker 5>to sell some and then we got we got to

0:14:55.600 --> 0:14:58.040
<v Speaker 5>buy back shares. Okay, you're doing all the things, but

0:14:59.040 --> 0:15:01.320
<v Speaker 5>how sustainable is in the long term And I'm not

0:15:01.320 --> 0:15:03.600
<v Speaker 5>even saying long term five to ten years? Can you

0:15:03.880 --> 0:15:07.240
<v Speaker 5>continue that for the next two years if this consolidates. Now,

0:15:07.280 --> 0:15:10.640
<v Speaker 5>the patterns have shown that bitcoin doesn't do that.

0:15:11.640 --> 0:15:13.120
<v Speaker 4>But what if it, I mean, who knows.

0:15:13.320 --> 0:15:16.480
<v Speaker 5>Right, Let's say over the next eight twelve to eighteen months,

0:15:16.480 --> 0:15:21.000
<v Speaker 5>if consolidation between sixty and seventy thousand continues, seventy five thousand.

0:15:21.680 --> 0:15:23.800
<v Speaker 6>Yeah, a year ago is that we're gonna see a

0:15:23.840 --> 0:15:26.480
<v Speaker 6>lot more so. Yeah, A year ago is.

0:15:26.480 --> 0:15:29.280
<v Speaker 2>At four fifty seven to twenty three, currently at one

0:15:29.360 --> 0:15:33.720
<v Speaker 2>hundred and seventy seven for my technicians, and one from

0:15:33.720 --> 0:15:37.680
<v Speaker 2>the seventy eighty six retlacement. And it's underneath the twenty

0:15:37.720 --> 0:15:42.840
<v Speaker 2>three six of the five. Not a good sign.

0:15:44.920 --> 0:15:45.440
<v Speaker 4>You better go.

0:15:45.440 --> 0:15:47.880
<v Speaker 3>Across Trump and figure out our relationship.

0:15:50.000 --> 0:15:53.640
<v Speaker 2>And I'm gonna say whenever you say, buy at any

0:15:53.680 --> 0:15:55.800
<v Speaker 2>price for any asset on or I don't care if

0:15:55.800 --> 0:15:58.600
<v Speaker 2>it's a water, that's.

0:15:58.200 --> 0:16:00.680
<v Speaker 3>A horrible thesis. It always least trouble