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Speaker 1: Welcome to had to Money. I'm Joel and I am Matt,

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Speaker 1: and today we're talking about harsh but helpful money truths

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Speaker 1: with doctor Brad Klotz and Adrian Brambilla. Yeah.

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Speaker 2: So what does a CFP financial psychologist and a former

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Speaker 2: professional dancer for tea pain having common? Joel, Well, on

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Speaker 2: a tune, you know the answer, but everyone else can

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Speaker 2: keep listening to find out. We are joined by doctor

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Speaker 2: Brad and Adrian, who are the co authors of the

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Speaker 2: new book Start Thinking Rich twenty one Harsh Truths to

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Speaker 2: take you from broke to Financial Freedom. And these are

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Speaker 2: harsh truths. They don't sugarcoat it. We're gonna get into it.

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Speaker 1: In this book.

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Speaker 2: It's all about delivering actionable solutions to increase and diversify

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Speaker 2: your income, to help you save what it is that

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Speaker 2: you make, and to discover ways to grow your money

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Speaker 2: in your sleep. And Adrian and doctor Brad, they both

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Speaker 2: agree that the wrong mindset is often what is keeping

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Speaker 2: folks from achieving those ends. They want everyone to avoid

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Speaker 2: learning lessons the hard way. That's why they have written

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Speaker 2: this book.

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Speaker 1: Fellas. Thank you'll so much for joining us today on

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Speaker 1: the podcast.

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Speaker 3: Hey, thanks so much for having us pumped to be here.

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Speaker 1: Of course excited. Yeah, no, we're excited too. And I

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Speaker 1: don't know. I think Mary Poppins said a spoonful of

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Speaker 1: sugar helps the medicine go down. You guys said, screw

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Speaker 1: the sugar. We're just we're just going to shove the

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Speaker 1: medicine down the throat, which I think has its own benefits.

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Speaker 1: And so we're going to get into the book in

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Speaker 1: just a second. But the first question that we ask

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Speaker 1: everyone who comes on the show is what do you

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Speaker 1: like to splorge on? And of course, you guys are

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Speaker 1: writing about money, you're saving, investing for your future, you're

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Speaker 1: doing the right stuff, but you're also probably splurging on

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Speaker 1: stuff in the here and now. So Adrian, I'll start

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Speaker 1: with you. What is that splurge item? Your craft beer equivalent.

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Speaker 3: I just spent a lot of money.

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Speaker 4: I spent forty thousand dollars to get my own pick

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Speaker 4: a ball court at my house ready for ten days,

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Speaker 4: and I've played on it ten days. I'm playing on

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Speaker 4: it every single day.

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Speaker 3: I love pickleball. I'm totally addicted.

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Speaker 2: Okay, Well, so I feel like one of the benefits

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Speaker 2: of pickaball is that you don't have to have a

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Speaker 2: court because it's so small that you could just set

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Speaker 2: up a little little net in the driveway.

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Speaker 1: Admit, Matt, you need a cord.

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Speaker 3: I think the what I realized is I started playing.

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Speaker 4: I've been playing for like ten years before it became

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Speaker 4: really mainstream, and and you know, I don't want to flex,

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Speaker 4: but I'm probably the best pickball player you've ever had

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Speaker 4: on your podcast, but my duper rating is five point six.

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Speaker 4: And as you start elevating your play, there's actually less

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Speaker 4: and less places to play. And so I was driving

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Speaker 4: like commuting like an almost like a nine to five

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Speaker 4: job an hour there, an hour back to go like

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Speaker 4: play three four times a week, and I was like,

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Speaker 4: I think I'm going to like just get a court

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Speaker 4: in my house and I kind of host community. That's

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Speaker 4: what pickaball is super great. And then also it's a

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Speaker 4: big time saver. Anyways, that's what I'm saying to justify

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Speaker 4: the forty thousand dollars.

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Speaker 1: That's your excuse at least, and now they commute to

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Speaker 1: play with you. Yes, exactly, awesome, Awesome A right, doctor, Brad,

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Speaker 1: what's yours? Dang?

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Speaker 5: You know, Adrian totally stole my thunder because I was

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Speaker 5: about to say that I bought a three hundred dollars

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Speaker 5: pickleball paddle, which sounds pretty pathetic right now as I'm

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Speaker 5: talking about it, but essentially, I'll be honest, Like, for me,

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Speaker 5: it's lessons for my kids. I spend a lot of

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Speaker 5: money on baseball lessons, tennis lessons, and when I sit

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Speaker 5: and think about it, it's probably like it's one of

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Speaker 5: my larger expenses in terms of discretionary cash flow. But

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Speaker 5: I just love it. I love investing in their skill set.

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Speaker 2: Their experiences. I've got four kids, Joel has three, so

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Speaker 2: we can relate to extracurricular activities and the toll that

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Speaker 2: they take on our budgets.

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Speaker 1: I'm curious too it was pickleball? Was that the common

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Speaker 1: bond that got you guys together.

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Speaker 5: So I'm I rarely get beat at sports by anybody,

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Speaker 5: And Adrian was talking about pickleball. I played tennis in college.

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Speaker 5: I'm like, yeah, yeah, yeah, let's see what you got.

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Speaker 5: And so I actually played with him about a year

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Speaker 5: and a half ago and he just tore me apart

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Speaker 5: and it was so humiliating that I've spent the last

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Speaker 5: year and a half spending ten hours a week trying

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Speaker 5: to get better so that I can beat Adrian.

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Speaker 1: Amazing, so that you can step up well.

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Speaker 2: So what Joe's asking, though, is that literally how y'all met,

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Speaker 2: because because Brad you're a financial psychologist, Adrian you're basically

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Speaker 2: like a social media TikTok star is like, how did

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Speaker 2: y'all actually meet and how did this partnership come to be?

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Speaker 4: We met on TikTok i for about a year during

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Speaker 4: the pandemic. I was living in a van and I

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Speaker 4: was talking about finance. I've been documenting my online entrepreneurship

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Speaker 4: journey ever since I was a pro dancer for Tea Pain.

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Speaker 4: My first online business was teaching people how to dance

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Speaker 4: the robot, and I've been creating content since twenty ten.

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Speaker 4: But during the pandemic, I started talking about this lifestyle

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Speaker 4: of like fire movement, living as a minimalist but also

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Speaker 4: having high income, and that's when of my contents started

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Speaker 4: to shift to more finance. And Brad and I were

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Speaker 4: connected beforehand, but even though on paper backgrounds were totally op,

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Speaker 4: I was sharing the same ultimate message about what real

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Speaker 4: freedom and wealth is, and that's wealth is not about

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Speaker 4: how much stuff you own. It's about how much time

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Speaker 4: you have and how to choose how you spend that time.

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Speaker 4: And so I was like a living contradiction to I

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Speaker 4: think what the algorithm and what most people think rich

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Speaker 4: or successful is. They think Lamborghini flash like private jet now.

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Speaker 4: And I was basically saying like, hey, I'm a multimillionaire

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Speaker 4: and I would share transparently. It's so I got really popabarly,

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Speaker 4: like hey, I made a hundred thousand dollars last month

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Speaker 4: online and I live in this van.

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Speaker 3: People be like, that is definitely a scammer, a road

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Speaker 3: that does not compute. That does not compute.

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Speaker 4: And Brad he was saying the exact same thing. But

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Speaker 4: what's really cool about Brad is he was he was

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Speaker 4: coming from his own He wasn't just quoting other people's research's.

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Speaker 4: He's explaining his own research on this study of millionaires

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Speaker 4: and how they think and how they operate. And so

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Speaker 4: I was like a living example of one extreme. And

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Speaker 4: then and then I think our relationship really started to

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Speaker 4: get closer. And you know, Brad and I were first friends,

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Speaker 4: and we started like actually mocking each other on TikTok.

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Speaker 3: So I would like make a tick like.

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Speaker 4: I'm doctor Brad Kleins, I'm super educated, and he would

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Speaker 4: do the same thing. I'm Adrian, I live in a

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Speaker 4: VA and look at me. We just started like collaborating

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Speaker 4: a lot.

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Speaker 1: More classic mail bonding, making of each other, but.

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Speaker 4: Yeah, it started from there and our messages are the same.

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Speaker 4: Is the same on wanting to help people make an

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Speaker 4: impact with their finances, and also how money is really

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Speaker 4: not about stuff, It's about freedom of time.

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Speaker 1: I want to dig in for just a second, Adrian

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Speaker 1: on about making money online, and I feel like if

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Speaker 1: we wanted to, we could do a whole side podcast

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Speaker 1: just about that with you. You made money teaching people

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Speaker 1: how to do the robot dance. That's one of the

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Speaker 1: ways you've made money online. You've done in other ways too,

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Speaker 1: But that if people are out there listening and they

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Speaker 1: have this this roadblock into thinking can I start my

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Speaker 1: own thing? Can I make money online? To me, that

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Speaker 1: just shows that you can start a business in almost

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Speaker 1: anything and make money. Is that right?

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Speaker 3: I believe it.

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Speaker 4: I think I get frustrated when I hear people say

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Speaker 4: that they want to do something and then months go

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Speaker 4: by and they've really made no effort. A lot of

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Speaker 4: people get stuck in like their thinking time of like

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Speaker 4: they think about their idea and it almost feels like

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Speaker 4: work when you spend so much time thinking. But action

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Speaker 4: is like actually, specifically, if you want to do anything,

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Speaker 4: most likely you're going to have to hit the published button,

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Speaker 4: meaning post something online, post the blog, post the website page,

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Speaker 4: post a TikTok. And to me, that's like actually real

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Speaker 4: effort into whatever your idea is and trying to make

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Speaker 4: it happen, and oftentime, at the beginning, you don't make

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Speaker 4: any money.

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Speaker 3: It's just straight up grind.

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Speaker 4: I'm always first to share that it took me two

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Speaker 4: years to make forty five cents, so that was a

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Speaker 4: lot of.

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Speaker 3: Effort posting online. I did not know what I was doing.

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Speaker 4: And then two and a half years into it, that's

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Speaker 4: when I made my first thousand dollars online. And then

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Speaker 4: you know, stuff started compounding. And I've definitely not had

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Speaker 4: a romantic journey. I talk about my income a little

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Speaker 4: bit in the book, and we just did another podcast

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Speaker 4: and someone was like, Adrian, it looked like you're income

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Speaker 4: exploded in one year, and I talk about how like

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Speaker 4: it was my first year I made the leap to

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Speaker 4: seven figures and I was like one year that was

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Speaker 4: nine years into of like my entrepreneur journey. So it's

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Speaker 4: like that consistency of hitting published. There's a lot of

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Speaker 4: different ways to make money online. I'm a big fan

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Speaker 4: of the ones that don't require any capital, just a

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Speaker 4: little bit of effort creativity. And then I would say

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Speaker 4: getting over your own cringe factor for thinks like when

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Speaker 4: you post and you see your face online for the

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Speaker 4: first time, it's like eugh a. The time you hear

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Speaker 4: your voice online, or like like doing a podcast, you

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Speaker 4: might the first time you heard yourself talk, you're like,

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Speaker 4: oh my god, my voice. So it's like usually it's

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Speaker 4: that cringe factor. We just have to get over it.

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Speaker 4: And I feel like scrappiness is becomes your best friend

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Speaker 4: at the beginning and posting. I'm a big believer every

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Speaker 4: time you post, you create more opportunity and chances for

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Speaker 4: magic to happen.

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Speaker 2: That loves looking at his own face in the mirror

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Speaker 2: that puls well, I'm still getting over the cringe factor

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Speaker 2: of my voice though, So I'll take that advice Adrian

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Speaker 2: doctor Brad so y'all, I'll start the book off with

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Speaker 2: a stats about the percentage of self made millionaires out there,

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Speaker 2: and so kind of within that context, like what does

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Speaker 2: self made mean? And what do you think that we

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Speaker 2: can all learn about wealth building by knowing that number?

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Speaker 5: Yeah, it's a number that I found so inspiring when

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Speaker 5: I first ran across it, and I grew up lower income,

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Speaker 5: and so.

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Speaker 1: I didn't really know.

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Speaker 5: I didn't know any of the facts around how millionaires

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Speaker 5: actually behaved and how people became millionaires. And so when

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Speaker 5: in the studies I've done, it actually replicated this too.

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Speaker 5: But we're talking like, depending on the study, anywhere from yeah,

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Speaker 5: eighty to ninety percent of millionaires are self made. And

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Speaker 5: what's fascinating is that that mindset should be inspiring, that

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Speaker 5: should make you really excited. And if you have resistance

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Speaker 5: to it, that's where I get really curious as a psychologist,

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Speaker 5: because I mean, there's the stat in front of your face.

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Speaker 5: So what sort of bias do you have? What sort

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Speaker 5: of mindset do you have that wants to push that

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Speaker 5: away or push it down or redefine what the word

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Speaker 5: self made means. That's the classic example I get from

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Speaker 5: trolls on social media and they'll say stuff like, well,

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Speaker 5: you know, somebody changed your diaper, and it's like, well, yes,

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Speaker 5: you know, somebody fed you, and somebody changed your diaper.

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Speaker 1: Somebody built roads for you to drive on.

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Speaker 5: Exactly exactly. But the definition of self made and all

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Speaker 5: those studies are you didn't inherit any money, So that's

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Speaker 5: essentially the self made like perhaps you had loving parents,

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Speaker 5: perhaps you had went to public school and had a

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Speaker 5: teacher who taught you algebra. So of course we're not

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Speaker 5: here all by ourselves with everything we've achieved, but that's

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Speaker 5: really the distinguishing factor. And then a big part of

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Speaker 5: my research has been how do those people think differently?

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Speaker 5: How do they act differently? One of my passions is

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Speaker 5: and this project is so exciting for me because it's

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Speaker 5: the manual I wish I had when I was younger,

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Speaker 5: so I could have avoided making a bunch of mistakes

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Speaker 5: along the way.

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Speaker 1: One of the most powerful quotes I ran across from

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Speaker 1: your book, you say, broke is temporary, but an unexamined

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Speaker 1: poor mindset can be per in it. So I know

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Speaker 1: sometimes with some of the gurus out, their mindset gets

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Speaker 1: talked about a lot. Is that really the crux of

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Speaker 1: the issue? I mean, because sometimes people will point to oh,

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Speaker 1: there's a lack of personal finance education. People just don't

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Speaker 1: know what to do, how important and how detrimental is

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Speaker 1: kind of that unexamined mindset.

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Speaker 5: Well, in my unbiased opinion as a psychologist, I think

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Speaker 5: it's all mindset. And you know, the basics of personal

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Speaker 5: finance are really really simple, and I challenge anyone to

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Speaker 5: find somebody who already doesn't know what they should be

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Speaker 5: doing when it comes to money. We all know that

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Speaker 5: we should be saving for the future, you know, my

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Speaker 5: seven year old knows that. And we all know that

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Speaker 5: we shouldn't spend more than we make. Yet those are

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Speaker 5: the two biggest problems we have in the United States.

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Speaker 5: Nobody is staying broke and not achieving financial freedom because

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Speaker 5: they don't know the difference between a traditional iray and

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Speaker 5: a roth iray. So I think financial literacy is important.

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Speaker 5: And actually, when I did a study looking at the

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Speaker 5: impact of mindset versus is financial literacy, we put people

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Speaker 5: into two different groups. One of them, we gave them

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Speaker 5: a financial literacy class that you would find in college,

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Speaker 5: really good stuff taught by a PhD in financial planning,

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Speaker 5: and the other one we spent an hour just doing

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Speaker 5: mindset stuff. After that, we saw a seventy three percent

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Speaker 5: increase in savings rates in that group of the psychology intervention,

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Speaker 5: whereas we had about a twenty percent increase in the

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Speaker 5: other group. So financial literacy does matter, but you get

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Speaker 5: three x the effect by actually looking at your mindset,

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Speaker 5: because that's really what drives our financial behaviors.

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Speaker 2: Yeah, you back that up because, like you spend a

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Speaker 2: lot of time talking about in the book, how a

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Speaker 2: lot of folks believe that the system is rigged, and

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Speaker 2: doctor Brad it seems like you hate that assertion, Like

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Speaker 2: you make a great argument for capitalism, not necessarily for it,

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Speaker 2: but just I guess maybe more of a acceptance of reality.

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Speaker 2: But is that just an aversion to maybe focusing on

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Speaker 2: your internal locus of control that you were such a

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Speaker 2: proponent of.

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Speaker 5: Yeah, that's actually correct. We also do. We're very clear

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Speaker 5: that the system is not fair. I mean, there's nothing

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Speaker 5: fair about it. It perhaps more fair than most systems

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Speaker 5: that have existed throughout human history, but it's not certainly

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Speaker 5: not fair. We don't treat people the same way. People

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Speaker 5: aren't born into the same circumstances, Like as I mentioned,

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Speaker 5: I grew up lower income definitely did not have access

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Speaker 5: to the quality of education my kids are getting right now.

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Speaker 5: Totally unfair. We just think it's a very destructive mindset

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Speaker 5: to be stuck on that. You know, So the system

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Speaker 5: is it rigged against you? It's like it could be,

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Speaker 5: there could be aspects of it. We actually like to

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Speaker 5: look at it like it's actually a game. It's all

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Speaker 5: a game, and so it feels rigged to me growing

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Speaker 5: up lower income. I don't know anything about investing. I

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Speaker 5: feel like it's all rigged for people who actually do

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Speaker 5: know about investing. And the answer is, well, yes, it

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Speaker 5: is in the sense that they know how to play

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Speaker 5: the investing game. I don't know how to play the

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Speaker 5: investing game. And we use the metaphor of showing up

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Speaker 5: to a football game, you know, ready to play, but

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Speaker 5: you bring your your sneakers and your pickleball.

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Speaker 1: Padd three hundred dollars paddle.

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Speaker 5: Yeah, you're out there getting slammed, getting tackled, getting beat up,

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Speaker 5: and you're like, the system is rigged. It's like, well,

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Speaker 5: you showed up, you didn't know how to play the game,

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Speaker 5: you weren't prepared, and of course you're getting destroyed.

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Speaker 1: Yeah, and we have to kind of And it makes

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Speaker 1: me think of when I play Settlers of Catan with

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Speaker 1: Matt and he's like the best at training, but then

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Speaker 1: sometimes he gets Oh, sometimes you turn people against you

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Speaker 1: though when we're playing. You have to know kind of

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Speaker 1: the happy medium.

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Speaker 2: You define that as an underhanded compliment? Is that what

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Speaker 2: you call that, doctor Brad Claws?

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Speaker 5: Yeah, as a psychologist, Oh, just friends, just giving it

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Speaker 5: to right.

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Speaker 1: Just like you guys do. Adrian, you say that it's

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Speaker 1: not your fault if you're born poor, but it is

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Speaker 1: your fault if you die poor. And similar to your

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Speaker 1: buddy doctor Brad here, your family is an example I

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Speaker 1: would say of a rags to richest story as well.

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Speaker 1: Can you share that a little bit?

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Speaker 4: Yeah, this was actually something my dad said, and he's

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Speaker 4: not at the original quote. This has been said a

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Speaker 4: lot of a lot of times in history by many, many,

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Speaker 4: many different people. But my dad immigrated here when he

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Speaker 4: was thirteen. My grandma is actually like our superhero. She

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Speaker 4: changed our bran Beila family tree. My dad's said was

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Speaker 4: murdered when he was about five. It was in Mexico,

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Speaker 4: in a very small village, and so she was commuting

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Speaker 4: from Mexico the US took for about a half a

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Speaker 4: year to save enough to bring her four kids over

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Speaker 4: to the US. And so my dad is a person

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Speaker 4: that said this to me. I was born here in

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Speaker 4: the first bran Beila to graduate from four university, and

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Speaker 4: I think that platform that I was I was given

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Speaker 4: from my parents. Like to me, I've just learned to

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Speaker 4: kind of adopt an immigrant mindset even though I didn't

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Speaker 4: immigrate here, and so my.

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Speaker 3: Dad he as I was raised.

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Speaker 4: It was kind of one of my money beliefs I

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Speaker 4: had is that like our family left the bad place

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Speaker 4: in this country, the US is like we left, we

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Speaker 4: well left the place where my dad actually did go hungry.

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Speaker 4: My dad had to steal food, like they struggle. There

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Speaker 4: was adversities that you don't even want to think of

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Speaker 4: that my family's face, and we came to the US

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Speaker 4: to change our circumstances. I've always had this really optimistic

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Speaker 4: lens also an immense pressure to not be a screw

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Speaker 4: up because I would be just a disrespectful to my

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Speaker 4: grandma and I would never ever want to do that.

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Speaker 4: So I feel like this is like some and Brad

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Speaker 4: and I have talked a lot it. We talked about

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Speaker 4: immigrants in the book, and like, this is kind of

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Speaker 4: an immigrant mindset is something I think is a great

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Speaker 4: thing to adopt, even if you didn't immigrant here, to

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Speaker 4: think of like immigrants, they see the world a little

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Speaker 4: bit differently when they come to a place, when they've

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Speaker 4: left something that is unspeakable and unimaginable and they come

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Speaker 4: to this country. And of course people born here they

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Speaker 4: don't realize how good they have it.

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Speaker 3: It could actually be a lot worse.

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Speaker 4: That's why immigrants come here so they escape those those

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Speaker 4: fates and then and then they try to make a

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Speaker 4: name for themselves in change. So, yeah, my dad is

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Speaker 4: the one that said that, and I believe in it,

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Speaker 4: and it's exactly as you read it. It makes me

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Speaker 4: kind of cringe a little bit because it is a

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Speaker 4: harsh truth.

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Speaker 1: Yeah, it is to get political, but there's a reason

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Speaker 1: that tens of millions of people want to come into

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Speaker 1: this country every year, and far fewer are leaving a

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Speaker 1: lot of opportunity here.

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Speaker 4: No.

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Speaker 2: Another harsh truth that you'll say in the book is

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Speaker 2: that you should blame yourself if you're poor as an adult.

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Speaker 1: And this kind of I guess piggybacks there as to

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Speaker 1: what you're.

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Speaker 2: Speaking to Adrian. But my knee jerk reaction is that

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Speaker 2: this sounds like bad advice. But doctor Brad, why isn't it?

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Speaker 5: Well, it's a gift. It's like, you know what, you

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Speaker 5: know what the worst possible advice would be. It's like, well,

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Speaker 5: you were born poor and you're going to be poor

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Speaker 5: until you die, because that's just how it is. That

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Speaker 5: is horrendous advice. Do you hate somebody if you tell

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Speaker 5: them that? Is that the idea or the belief that

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Speaker 5: you know the government's going to come in and save you,

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Speaker 5: or you know corporations are going to come in and

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Speaker 5: take care of you. I mean, essentially, these are harsh truths,

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Speaker 5: but they are the exact truths. I worked in a

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Speaker 5: low income high school for twenty years, and every now

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Speaker 5: and then a kid would be facing an issue, whatever

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Speaker 5: it is in their life, and every now and then

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Speaker 5: I'd get up and I'd go shut the door because

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Speaker 5: I didn't want any of the adults to hear what

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Speaker 5: I was about to tell them, and then I would

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Speaker 5: just give it to them straight. You know. It's like, well,

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Speaker 5: education is you know, it makes no sense, it's not

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Speaker 5: worth I'm like, you're right, it's a stupid game, you know.

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Speaker 5: But here's a chart on the more education you get,

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Speaker 5: the more money you make. So you know, what kind

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Speaker 5: of game do you want to play here? So I'm

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Speaker 5: willing to engage at that level of just real, real

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Speaker 5: talk and essentially this idea that everyone else is keeping

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Speaker 5: me broken poor. And by the way, there are people

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Speaker 5: who make a lot of money selling that. And not

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Speaker 5: to get on political, but politicians are great at doing that,

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Speaker 5: Like there's all these problems, you can do nothing about it.

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Speaker 5: I'm going to save you, you know, vote for me.

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Speaker 5: So this mindset is very pervasive in our culture, and

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Speaker 5: it's entirely self destructive. And so the more you can

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Speaker 5: blame yourself for everything in your life, the better it's

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Speaker 5: going to be for you. But for example, when I

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Speaker 5: go home today and my wife's grouchy at me, the

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Speaker 5: bailout so I can feel really good about myself is

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Speaker 5: to just blame her, you know, Oh my gosh, look

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Speaker 5: at her. She's not seeing what an incredible person I am.

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Speaker 5: You know, I'm such a victim, you know. But actually

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Speaker 5: the more effective approach, mindset wise, is for me to say, well,

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Speaker 5: I wonder, you know, if I haven't really been expressing

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Speaker 5: to her how much I love her. I wonder if

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Speaker 5: I haven't been giving her the experience she would love

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Speaker 5: to have, and so if I take that on. And

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Speaker 5: by the way, I do a lot of couples therapy too. People.

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Speaker 5: I'm always encouraging people to blame themselves for at least

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Speaker 5: half of the problems in the relationship because it is

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Speaker 5: so empowering because if you can take responsibility for it,

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Speaker 5: you can actually do something about it. When you externalize

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Speaker 5: the blame, you are going to be a prisoner to

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Speaker 5: your circumstances right now for the rest of your life.

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Speaker 1: That's really good. Yeah, my wife is a budding marriage

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Speaker 1: and family therapist in her internship year right now, and yeah,

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Speaker 1: sometimes she meets couples and nobody wants to take responsibility

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Speaker 1: for what's going on. I mean, that's the case. It

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Speaker 1: takes all It feels like everything's got an impast and

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Speaker 1: you have to be able to see what you're contributing

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Speaker 1: to the negative vibes in your relationship because you're part

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Speaker 1: of what led you there. It takes twodor tango. There's

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Speaker 1: more to get to on this A conversation with doctor

435
00:20:01,800 --> 00:20:05,120
Speaker 1: Brad and Adrian. We're gonna talk about community, We're gonna

436
00:20:05,160 --> 00:20:07,639
Speaker 1: talk about consumption, and we're gonna talk about more harsh

437
00:20:07,640 --> 00:20:11,240
Speaker 1: truths that we're gonna yeah, take the heart so we

438
00:20:11,240 --> 00:20:12,639
Speaker 1: can get better with our money. We'll get to more

439
00:20:12,760 --> 00:20:13,280
Speaker 1: right after this.

440
00:20:21,320 --> 00:20:23,560
Speaker 2: Right we are back from the break talking through some

441
00:20:23,600 --> 00:20:28,360
Speaker 2: of these different harsh but helpful money truths and fellas.

442
00:20:28,760 --> 00:20:30,680
Speaker 2: We know y'all story just from having read the book.

443
00:20:30,720 --> 00:20:34,800
Speaker 2: But I mean, getting rich it doesn't come without sacrifice. Adrian,

444
00:20:34,840 --> 00:20:38,919
Speaker 2: you're kind of highlighting that sort of minimalist van living Brad.

445
00:20:39,040 --> 00:20:41,919
Speaker 2: You've talked about paying off You had like massive amounts

446
00:20:41,920 --> 00:20:43,879
Speaker 2: of student loan debt, and you're able to I think

447
00:20:43,920 --> 00:20:45,200
Speaker 2: you're able to get rid of that in just a

448
00:20:45,240 --> 00:20:49,639
Speaker 2: few years while living a pretty spartan, meager lifestyle.

449
00:20:49,760 --> 00:20:50,800
Speaker 1: Yeah, I wish I had a van.

450
00:20:52,160 --> 00:20:54,520
Speaker 2: We're not even gonna go into the kind of furniture

451
00:20:54,520 --> 00:20:56,840
Speaker 2: that you had in your first place. But do y'all

452
00:20:56,840 --> 00:20:59,919
Speaker 2: think that your mindset did that feel those actions like

453
00:21:00,560 --> 00:21:04,120
Speaker 2: what allowed you just to take some of the steps

454
00:21:04,160 --> 00:21:06,320
Speaker 2: necessary in order to kind of get where you are today.

455
00:21:06,520 --> 00:21:08,959
Speaker 4: For me, I really have to thank my parents. They

456
00:21:09,160 --> 00:21:13,240
Speaker 4: kind of really led through example of this immigrant mindset

457
00:21:13,280 --> 00:21:14,920
Speaker 4: that I talked about they did a couple of things

458
00:21:14,960 --> 00:21:18,000
Speaker 4: that today would be like people, I think, and actually,

459
00:21:18,040 --> 00:21:20,439
Speaker 4: I'm not even making this up. I've actually posted this

460
00:21:20,520 --> 00:21:23,200
Speaker 4: advice that I saw my parents did, and people revolt.

461
00:21:23,240 --> 00:21:25,040
Speaker 4: They think I'm like a terrible person for saying this.

462
00:21:25,440 --> 00:21:29,120
Speaker 4: I saw my parents, for example, not buying new clothes

463
00:21:29,160 --> 00:21:31,800
Speaker 4: for like three four years. They're just wearing the same stuff.

464
00:21:31,800 --> 00:21:33,719
Speaker 4: And then actually, if I look on family photos when

465
00:21:33,760 --> 00:21:36,320
Speaker 4: I was a kid, my dad's always wearing his like

466
00:21:36,359 --> 00:21:41,480
Speaker 4: Toyota mechanic looking shirt, and I like, back then, I

467
00:21:41,520 --> 00:21:42,000
Speaker 4: don't notice.

468
00:21:42,080 --> 00:21:42,840
Speaker 3: I'm just a kid.

469
00:21:42,920 --> 00:21:45,399
Speaker 4: But now looking back, and I've had this conversation with

470
00:21:45,440 --> 00:21:46,840
Speaker 4: my dad, is like, we were always wearing that shirt.

471
00:21:46,840 --> 00:21:48,600
Speaker 4: He's like, yeah, I didn't have any clothes. I just

472
00:21:48,600 --> 00:21:50,840
Speaker 4: wore my work stuff. Like when we had like family

473
00:21:50,880 --> 00:21:53,840
Speaker 4: barbecues and everything, he was wearing it. And again, that's

474
00:21:54,000 --> 00:21:56,440
Speaker 4: so if I give when I give that advice, I'm like, hey,

475
00:21:56,480 --> 00:21:57,800
Speaker 4: you want to save a lot of money, don't buy

476
00:21:57,800 --> 00:21:59,920
Speaker 4: anything new for the next four years, like you got enough.

477
00:22:00,400 --> 00:22:02,919
Speaker 3: It's like, oh, how dare you say that? Like that's it.

478
00:22:02,960 --> 00:22:04,440
Speaker 4: That's the insane because people have the sense of a

479
00:22:04,520 --> 00:22:06,400
Speaker 4: titlement that they always got to buy something new.

480
00:22:06,480 --> 00:22:07,840
Speaker 3: And same thing to my parents.

481
00:22:07,880 --> 00:22:11,359
Speaker 4: We like did not go out to eat ever, and

482
00:22:11,480 --> 00:22:14,600
Speaker 4: my parents are actually they cook bomb Mexican food. One day,

483
00:22:14,600 --> 00:22:15,320
Speaker 4: you guys can have it.

484
00:22:15,320 --> 00:22:19,280
Speaker 3: It's so good. Absolutely, So I just saw that.

485
00:22:19,359 --> 00:22:21,679
Speaker 4: And again, don't go out, don't spend money, and all

486
00:22:21,720 --> 00:22:24,919
Speaker 4: call like this is the un sexy part of finances.

487
00:22:24,920 --> 00:22:26,639
Speaker 4: But a lot of immigrants that are already doing this

488
00:22:26,760 --> 00:22:31,040
Speaker 4: things by default. So then when I started, uh making money,

489
00:22:31,280 --> 00:22:33,640
Speaker 4: and I always worked a job throughout my whole college,

490
00:22:33,920 --> 00:22:37,560
Speaker 4: multiple jobs, I always saved and I was super frugal

491
00:22:37,600 --> 00:22:39,320
Speaker 4: to begin with, and I and I went to the

492
00:22:39,440 --> 00:22:41,880
Speaker 4: very end of that extreme of living in a van.

493
00:22:42,119 --> 00:22:43,760
Speaker 4: But I do want to also say so I don't

494
00:22:43,800 --> 00:22:45,479
Speaker 4: come across as a hypoce if someone looks me up.

495
00:22:45,520 --> 00:22:47,880
Speaker 4: I do live in Austin, Texas. I have four walls,

496
00:22:48,119 --> 00:22:48,879
Speaker 4: air conditioning.

497
00:22:48,960 --> 00:22:49,960
Speaker 3: It's very nice.

498
00:22:50,520 --> 00:22:53,080
Speaker 4: But so you have to like and a pickball court, right,

499
00:22:53,119 --> 00:22:57,280
Speaker 4: so I am I am spending. But in those earlier years,

500
00:22:57,600 --> 00:22:59,240
Speaker 4: you know, I just saw this by default. I thought

501
00:22:59,240 --> 00:23:03,960
Speaker 4: this was normal and that part of sacrifice of every person.

502
00:23:04,000 --> 00:23:06,480
Speaker 4: I know that successful has to sacrifice in some capacity,

503
00:23:06,480 --> 00:23:08,840
Speaker 4: and that and that and that is one end of it.

504
00:23:08,800 --> 00:23:10,720
Speaker 4: It's like, how can you cut your costs? Again, not

505
00:23:10,800 --> 00:23:13,280
Speaker 4: the fun part, which is why we also talk about,

506
00:23:13,280 --> 00:23:15,119
Speaker 4: like one of the best and most fun ways is

507
00:23:15,200 --> 00:23:17,280
Speaker 4: how to increase your income because you know it can

508
00:23:17,280 --> 00:23:17,920
Speaker 4: cut so much.

509
00:23:18,119 --> 00:23:20,760
Speaker 1: You guys talk about like you you guys both have

510
00:23:20,840 --> 00:23:23,320
Speaker 1: this bent towards minimalism. Adrian, You're kind of highlighting there

511
00:23:23,400 --> 00:23:25,479
Speaker 1: where you would tell somebody, hey, don't buy anything new

512
00:23:25,520 --> 00:23:27,800
Speaker 1: for four years, and most people would say that that

513
00:23:27,880 --> 00:23:30,080
Speaker 1: sounds like deprivation into the max. How dare you suggest

514
00:23:30,080 --> 00:23:32,720
Speaker 1: anyone do that. You kind of have this bent against

515
00:23:32,840 --> 00:23:35,560
Speaker 1: luxury goods as well, And I think lots of times

516
00:23:35,560 --> 00:23:39,920
Speaker 1: people have this assumption or this correlation that having more

517
00:23:39,960 --> 00:23:44,200
Speaker 1: money equals buy and fancier stuff. Why do you think

518
00:23:44,200 --> 00:23:45,800
Speaker 1: that correlation exists? Do you think we need to tear

519
00:23:45,840 --> 00:23:46,760
Speaker 1: it down? Yeah?

520
00:23:46,800 --> 00:23:48,240
Speaker 5: So this this is one of the things that just

521
00:23:48,359 --> 00:23:51,080
Speaker 5: drives me nuts about social media. And by the way,

522
00:23:51,080 --> 00:23:53,280
Speaker 5: I try to have an open mind. And the reason

523
00:23:53,280 --> 00:23:54,960
Speaker 5: I try to have an open mind is because I've

524
00:23:54,960 --> 00:23:57,000
Speaker 5: read all the research that you'll make more money if

525
00:23:57,000 --> 00:23:59,760
Speaker 5: you have an open mind. So it's something I really

526
00:23:59,800 --> 00:24:04,240
Speaker 5: try to strive to have. But you'll see people spending

527
00:24:04,280 --> 00:24:07,639
Speaker 5: money on social media in ways that make you feel deprived.

528
00:24:07,680 --> 00:24:10,919
Speaker 5: And so I got really curious, like, how do wealthy

529
00:24:10,960 --> 00:24:13,840
Speaker 5: people spend their money? And what's sort of fascinating is

530
00:24:13,840 --> 00:24:16,600
Speaker 5: that it seems like the more money people have, the

531
00:24:16,760 --> 00:24:22,040
Speaker 5: smaller their designer logos. It's a really fascinating concept, all

532
00:24:22,080 --> 00:24:24,640
Speaker 5: the way to the point of not having outward displays

533
00:24:24,640 --> 00:24:26,080
Speaker 5: of wealth. And so in all the studies I've done,

534
00:24:26,160 --> 00:24:28,000
Speaker 5: we studied over one hundred thousand people at this point,

535
00:24:28,320 --> 00:24:30,280
Speaker 5: they tend to be money vigilant. So they have this

536
00:24:30,359 --> 00:24:33,000
Speaker 5: mindset that, oh, no, no, no, I need to save

537
00:24:33,040 --> 00:24:35,440
Speaker 5: money for the future. There's almost some anxiety around it.

538
00:24:35,560 --> 00:24:37,040
Speaker 5: You know, I'll be a nervous wreck if I didn't

539
00:24:37,080 --> 00:24:39,359
Speaker 5: have money, And if you ask me how much I

540
00:24:39,920 --> 00:24:43,160
Speaker 5: had and made, I'd probably downplay it. And so here's

541
00:24:43,200 --> 00:24:46,200
Speaker 5: the mind blowing thing. The people with the most money

542
00:24:46,240 --> 00:24:48,760
Speaker 5: are the ones who are downplaying how much money they have.

543
00:24:49,680 --> 00:24:52,879
Speaker 5: And conversely, our studies have found that the people who

544
00:24:52,920 --> 00:24:55,920
Speaker 5: are most addicted to outward displays of wealth I want

545
00:24:55,920 --> 00:24:58,280
Speaker 5: to show the world that I've made it. First of all,

546
00:24:58,280 --> 00:25:02,160
Speaker 5: they tend to come from lower socioeconomic homes like I did,

547
00:25:02,880 --> 00:25:04,640
Speaker 5: and I definitely felt prey to this where I felt

548
00:25:04,640 --> 00:25:06,080
Speaker 5: like I need to show the world I had made

549
00:25:06,080 --> 00:25:08,800
Speaker 5: it with these outward displays of wealth. And they also

550
00:25:09,560 --> 00:25:11,919
Speaker 5: they tend to pretend that they make more than they

551
00:25:11,960 --> 00:25:14,760
Speaker 5: actually do. So the big irony here is the people

552
00:25:14,800 --> 00:25:18,280
Speaker 5: who are flashing luxury goods and all that kind of

553
00:25:18,280 --> 00:25:21,280
Speaker 5: stuff and social media and in life tend to make

554
00:25:21,440 --> 00:25:26,040
Speaker 5: less and have lower income and also have lower self esteem.

555
00:25:26,800 --> 00:25:29,280
Speaker 5: So next time you see that in you're feeling deprived,

556
00:25:29,280 --> 00:25:32,800
Speaker 5: just understand that's the most likely scenario because the people

557
00:25:32,880 --> 00:25:34,600
Speaker 5: have the most money have no need to do that.

558
00:25:35,119 --> 00:25:37,679
Speaker 2: Along that line, you talk about how most folks they

559
00:25:37,680 --> 00:25:40,199
Speaker 2: don't necessarily they don't want to just like have a

560
00:25:40,200 --> 00:25:42,439
Speaker 2: million dollars, they actually want to spend a million dollars.

561
00:25:42,560 --> 00:25:44,440
Speaker 2: And I think that's what you're speaking to here, the

562
00:25:44,520 --> 00:25:46,720
Speaker 2: fact that and you kind of did this exercise in

563
00:25:46,720 --> 00:25:48,440
Speaker 2: that chapter two where you're like, imagine you got a

564
00:25:48,680 --> 00:25:50,240
Speaker 2: million dollars, think about all the things you'd want to

565
00:25:50,240 --> 00:25:52,840
Speaker 2: spend it on, and so you start thinking, we're like, okay, okay,

566
00:25:53,480 --> 00:25:55,000
Speaker 2: you know, I'd like to spend on this and that,

567
00:25:56,119 --> 00:25:58,000
Speaker 2: and then you kind of pull the rug out from

568
00:25:58,080 --> 00:26:01,640
Speaker 2: under folks need talk about how maybe instead we should

569
00:26:01,680 --> 00:26:02,840
Speaker 2: be thinking about investing.

570
00:26:03,040 --> 00:26:05,679
Speaker 5: Yeah, that's sort of the millionaire quiz we give people,

571
00:26:05,720 --> 00:26:07,320
Speaker 5: and it's such a setup. We're so mean.

572
00:26:07,720 --> 00:26:10,200
Speaker 1: Yeah, you know what you do if you fill books.

573
00:26:11,280 --> 00:26:12,920
Speaker 5: By the way, like when I teach high school kids,

574
00:26:12,920 --> 00:26:14,840
Speaker 5: I usually go in and ask that question and then

575
00:26:14,880 --> 00:26:16,800
Speaker 5: eventually someone in the class would go, I would invest it,

576
00:26:16,840 --> 00:26:18,960
Speaker 5: and then I point all my attention to that rich

577
00:26:19,000 --> 00:26:22,280
Speaker 5: mindset in the back of the room. And because essentially

578
00:26:22,320 --> 00:26:24,679
Speaker 5: that's it, we're trying to distinguish between the poor mindset

579
00:26:24,680 --> 00:26:26,720
Speaker 5: and the rich mindset. And the poor mindset is you

580
00:26:26,760 --> 00:26:28,400
Speaker 5: think about all the stuff you're gonna buy. So I'm

581
00:26:28,400 --> 00:26:30,480
Speaker 5: going to buy a house. I'm going to buy a

582
00:26:30,480 --> 00:26:32,560
Speaker 5: new car. Maybe I'm really nice. I'm gonna buy my

583
00:26:32,640 --> 00:26:34,399
Speaker 5: mama house. You know, I had a single mom for

584
00:26:34,440 --> 00:26:37,240
Speaker 5: a while. I want to shure that my appreciation. And

585
00:26:37,280 --> 00:26:38,880
Speaker 5: here's another one I want to I'm going to start

586
00:26:38,920 --> 00:26:41,560
Speaker 5: a business. Someone invested my business. So there's all this

587
00:26:41,680 --> 00:26:44,080
Speaker 5: list of things, and when you plot your calculator, you

588
00:26:44,119 --> 00:26:47,080
Speaker 5: can see that millionaire quickly not become a millionaire because

589
00:26:47,080 --> 00:26:50,440
Speaker 5: they're just spending all the money. Conversely, and we take

590
00:26:50,440 --> 00:26:53,080
Speaker 5: a hard line on this. The rich mindset would do

591
00:26:53,119 --> 00:26:56,879
Speaker 5: one thing. They would invest that money and using the

592
00:26:57,160 --> 00:27:01,000
Speaker 5: four percent rule, maybe they would take out maybe forty

593
00:27:01,080 --> 00:27:03,440
Speaker 5: thousand a year, and with that forty thousand dollars a year,

594
00:27:03,440 --> 00:27:05,840
Speaker 5: they might buy a house, they might invest in a business.

595
00:27:05,840 --> 00:27:07,720
Speaker 5: You know, most businesses fail, so you can keep doing

596
00:27:07,720 --> 00:27:10,040
Speaker 5: that year after year. The big mistake would be taking

597
00:27:10,080 --> 00:27:12,760
Speaker 5: three hundred thousand investing in a business. Now you've just

598
00:27:12,800 --> 00:27:16,240
Speaker 5: lost that statistically, especially if it's your first business. But

599
00:27:16,680 --> 00:27:18,960
Speaker 5: they would then use that to enhance their life. And

600
00:27:19,200 --> 00:27:21,239
Speaker 5: if they didn't do that, they would invest it and

601
00:27:21,280 --> 00:27:23,320
Speaker 5: in a matter of years they'd end up with three million,

602
00:27:23,400 --> 00:27:26,280
Speaker 5: four million, ten million dollars. So we really do try

603
00:27:26,280 --> 00:27:29,800
Speaker 5: to make that distinction because a lot of people, especially

604
00:27:29,800 --> 00:27:32,560
Speaker 5: who are just starting out on their journey to wealth,

605
00:27:32,760 --> 00:27:35,119
Speaker 5: they're really focused on the stuff they want to buy.

606
00:27:35,320 --> 00:27:38,200
Speaker 5: And what I have noticed over time is they'll they'll

607
00:27:38,440 --> 00:27:41,520
Speaker 5: get thirty forty thousand dollars put aside, and it should

608
00:27:41,520 --> 00:27:43,280
Speaker 5: they should be investing it. They'll yank it out and

609
00:27:43,280 --> 00:27:45,720
Speaker 5: they'll go buy that thing they wanted that they thought

610
00:27:45,760 --> 00:27:48,840
Speaker 5: would bring them happiness, and then of course it loses

611
00:27:48,880 --> 00:27:51,439
Speaker 5: its luster, and then they've lost all their money, and

612
00:27:51,480 --> 00:27:53,560
Speaker 5: that that is the mindset that I'm going to buy

613
00:27:53,600 --> 00:27:57,800
Speaker 5: stuff mindset that keeps people poor and frankly families poor

614
00:27:57,800 --> 00:27:58,600
Speaker 5: for generations.

615
00:27:58,680 --> 00:28:01,320
Speaker 2: It's what, Yeah, you said, this is this luster, and

616
00:28:01,359 --> 00:28:03,359
Speaker 2: I think there is one section where you write that

617
00:28:03,640 --> 00:28:07,000
Speaker 2: investments aren't shiny, but they make your future bright, which

618
00:28:07,040 --> 00:28:08,760
Speaker 2: got me. And you're kind of talking about how our

619
00:28:08,800 --> 00:28:12,840
Speaker 2: brains are wired, you know, for prehistoric times whatever, and

620
00:28:13,760 --> 00:28:16,400
Speaker 2: it got me thinking about how I do wonder if,

621
00:28:16,480 --> 00:28:18,600
Speaker 2: like a one hundred tw hundred, three hundred years ago,

622
00:28:18,640 --> 00:28:21,280
Speaker 2: when investments truly were like gold and silver, I wonder

623
00:28:21,280 --> 00:28:24,160
Speaker 2: if those folks were better at saving and investing because

624
00:28:24,240 --> 00:28:27,480
Speaker 2: we're actually naturally because they literally had shiny rocks oure.

625
00:28:27,560 --> 00:28:28,480
Speaker 1: Literally it was beautiful.

626
00:28:28,480 --> 00:28:29,960
Speaker 2: It was this thing that we're drawn to as opposed

627
00:28:29,960 --> 00:28:32,920
Speaker 2: to investments today. It's hard to wrap your mind around

628
00:28:32,920 --> 00:28:34,800
Speaker 2: like numbers on a screen and saying that this is

629
00:28:34,840 --> 00:28:37,600
Speaker 2: something that I want to throw my entire weight behind.

630
00:28:38,000 --> 00:28:39,680
Speaker 2: But that is the thing that we have to do

631
00:28:39,760 --> 00:28:43,160
Speaker 2: in our modern society today. Doctor Brad, Have you seen

632
00:28:43,440 --> 00:28:46,840
Speaker 2: I guess other examples of just how maybe our brains

633
00:28:46,920 --> 00:28:49,600
Speaker 2: aren't necessarily suited for the modern world that we live

634
00:28:49,600 --> 00:28:50,000
Speaker 2: in today.

635
00:28:50,160 --> 00:28:52,520
Speaker 5: Yeah, you know, and you said something there that's really

636
00:28:52,520 --> 00:28:56,240
Speaker 5: really important, and it's we are wired to consume things

637
00:28:56,320 --> 00:28:58,120
Speaker 5: right now. And the reason we're wired to consume that

638
00:28:58,200 --> 00:29:00,560
Speaker 5: right now is because we can smell them, we can

639
00:29:00,640 --> 00:29:04,000
Speaker 5: feel them, and we can taste them. And so the

640
00:29:04,120 --> 00:29:08,600
Speaker 5: hack here is how can you get very very clear,

641
00:29:08,880 --> 00:29:12,360
Speaker 5: specific goals of what you want in the future related

642
00:29:12,400 --> 00:29:14,680
Speaker 5: to your money. Don't make it abstract. You got to

643
00:29:14,680 --> 00:29:17,440
Speaker 5: make it concrete, make it so that you can feel it.

644
00:29:17,480 --> 00:29:19,200
Speaker 5: And so this is an exercise we actually did in

645
00:29:19,240 --> 00:29:22,200
Speaker 5: our studies with people. We had to create vision boards.

646
00:29:22,480 --> 00:29:24,600
Speaker 5: And there's a key element to this. So get really

647
00:29:24,640 --> 00:29:26,960
Speaker 5: excited about it, like not just retirement, what does that mean?

648
00:29:27,240 --> 00:29:29,080
Speaker 1: Who are where are you? Who are you with? How

649
00:29:29,120 --> 00:29:29,680
Speaker 1: does it feel?

650
00:29:29,720 --> 00:29:32,720
Speaker 5: Can you feel the sand between your toes right now? Yes,

651
00:29:32,960 --> 00:29:36,640
Speaker 5: get really excited about it. And then the second step is, Okay, great,

652
00:29:36,920 --> 00:29:39,239
Speaker 5: this is what you want more than anything else in

653
00:29:39,280 --> 00:29:43,800
Speaker 5: life right now. Set up separate accounts. Name those accounts

654
00:29:43,840 --> 00:29:47,800
Speaker 5: after those goals. So it's like European vacation, you know,

655
00:29:47,880 --> 00:29:50,960
Speaker 5: twenty twenty eight, whatever it is. Don't just make it

656
00:29:51,040 --> 00:29:54,360
Speaker 5: like some amorphous savings account. It's really boring money. You'll

657
00:29:54,400 --> 00:29:55,880
Speaker 5: get in there, and you're going to spend it all.

658
00:29:56,560 --> 00:29:59,360
Speaker 5: Name it after these really powerful, exciting goals, and this

659
00:29:59,440 --> 00:30:03,160
Speaker 5: is the key here. Then automate. So you're gonna you're

660
00:30:03,160 --> 00:30:06,440
Speaker 5: gonna harness the status quo bias which keeps many of

661
00:30:06,520 --> 00:30:09,760
Speaker 5: us stuck, but you can you can leverage that for

662
00:30:09,800 --> 00:30:12,920
Speaker 5: your own financial benefit. And every month money is going

663
00:30:13,000 --> 00:30:15,800
Speaker 5: to just go out of your checking account into those goals.

664
00:30:15,920 --> 00:30:18,160
Speaker 5: Then you got to then all the money you got left,

665
00:30:18,200 --> 00:30:20,080
Speaker 5: just spend that any way you want, but make sure

666
00:30:20,080 --> 00:30:22,040
Speaker 5: that you're taking care of those things. But you have

667
00:30:22,080 --> 00:30:25,280
Speaker 5: to override this impulse to spend it now. And the

668
00:30:25,320 --> 00:30:27,000
Speaker 5: only reason we want to spend it now is because

669
00:30:27,200 --> 00:30:29,520
Speaker 5: it's it's visceral, we can feel it. Most of our

670
00:30:29,560 --> 00:30:32,600
Speaker 5: decisions are made from our emotional brain and it only

671
00:30:32,640 --> 00:30:35,760
Speaker 5: knows what it can see and taste and experience. And

672
00:30:35,800 --> 00:30:38,320
Speaker 5: so you want to give yourself really clear goals and

673
00:30:38,760 --> 00:30:40,960
Speaker 5: get in touch with those emotions and why it matters

674
00:30:40,960 --> 00:30:44,160
Speaker 5: so much to you, and then automate. Automate. Automate, because

675
00:30:44,200 --> 00:30:46,040
Speaker 5: if you leave it to yourself to write a check

676
00:30:46,080 --> 00:30:48,520
Speaker 5: each month, your your plan will.

677
00:30:48,360 --> 00:30:50,840
Speaker 1: Fail, Adrian one of the suggestions and it feels like

678
00:30:50,840 --> 00:30:53,360
Speaker 1: another hard suggestion because of course that's what you guys

679
00:30:53,400 --> 00:30:55,640
Speaker 1: are doing with this book, is to get rid of

680
00:30:55,680 --> 00:30:59,040
Speaker 1: your poor friends. Should be offended at that and like,

681
00:30:59,080 --> 00:31:01,080
Speaker 1: I don't know, did you have you cut people out

682
00:31:01,080 --> 00:31:02,840
Speaker 1: of your life? Like what does this look like in reality?

683
00:31:02,960 --> 00:31:04,360
Speaker 3: Oh, this is such a tough one.

684
00:31:04,440 --> 00:31:06,600
Speaker 4: I can't believe you asked me and not doctor brad

685
00:31:06,640 --> 00:31:09,840
Speaker 4: here No, but this this is a tough one. You know,

686
00:31:09,840 --> 00:31:11,040
Speaker 4: if you want to get rich, get rid of your

687
00:31:11,040 --> 00:31:14,200
Speaker 4: boy friends. And this was probably the most controversial I

688
00:31:14,200 --> 00:31:16,960
Speaker 4: think chapter headline that we have, and I do want

689
00:31:17,000 --> 00:31:19,040
Speaker 4: to mention for if you guys want to read this book.

690
00:31:19,080 --> 00:31:22,280
Speaker 4: Every every chapter is is made with love and the

691
00:31:22,320 --> 00:31:24,440
Speaker 4: headlines really it's kind of like a wake up call.

692
00:31:24,680 --> 00:31:26,840
Speaker 4: And this one when I and every single chapter title

693
00:31:26,840 --> 00:31:29,080
Speaker 4: we used. You know, we have almost three million followers online.

694
00:31:29,200 --> 00:31:32,320
Speaker 4: You tested each chapter and based off the engagement, we

695
00:31:32,400 --> 00:31:36,440
Speaker 4: decided run within. This one had thousands of people live it,

696
00:31:37,200 --> 00:31:39,320
Speaker 4: which was a sign we should keep it. But there

697
00:31:39,360 --> 00:31:42,920
Speaker 4: was also people who read through this because in every

698
00:31:42,960 --> 00:31:45,640
Speaker 4: self help book I've ever read, they always say the

699
00:31:45,720 --> 00:31:48,160
Speaker 4: law of averages, you're the average of the five people

700
00:31:48,200 --> 00:31:51,200
Speaker 4: you surround stuff by. This is the exact same concept

701
00:31:51,360 --> 00:31:56,480
Speaker 4: if you're hanging around with people who are making minimum wage.

702
00:31:57,000 --> 00:31:59,480
Speaker 4: And I'm just speaking from my own experiences when I

703
00:31:59,560 --> 00:32:01,680
Speaker 4: was working with people with a minimum wage. There's some

704
00:32:01,720 --> 00:32:04,080
Speaker 4: people who are trying to not make minimum wage forever.

705
00:32:04,240 --> 00:32:06,520
Speaker 4: There's some people who really aren't thinking about the future

706
00:32:06,560 --> 00:32:09,440
Speaker 4: at all. The difference of conversation sounds like this, like, Hey, yo,

707
00:32:09,760 --> 00:32:11,520
Speaker 4: Friday is coming up. Yo, I can't wait. What are

708
00:32:11,520 --> 00:32:12,840
Speaker 4: we gonna do on Friday? It's like, Yo, we gotta

709
00:32:12,840 --> 00:32:15,080
Speaker 4: go to the clubs. We gotta go out, we gotta spend.

710
00:32:15,440 --> 00:32:17,120
Speaker 3: Let's go out. Let's go out and grab some drinks.

711
00:32:17,120 --> 00:32:19,400
Speaker 4: Like they're looking forward to pay day because they're probably

712
00:32:19,440 --> 00:32:21,880
Speaker 4: running out of money. And then when payday happen, instead

713
00:32:21,880 --> 00:32:24,480
Speaker 4: of like going putting those that money responsibly, they're going

714
00:32:24,560 --> 00:32:27,040
Speaker 4: to go and spend it and blow it. And this

715
00:32:27,120 --> 00:32:29,840
Speaker 4: happens whether you're making minimum wage or six figures, because

716
00:32:29,920 --> 00:32:32,400
Speaker 4: half of people that make six figures actually live paycheck

717
00:32:32,400 --> 00:32:35,440
Speaker 4: to paycheck, which is crazy, just elevated lifestyle. So it'd

718
00:32:35,440 --> 00:32:37,040
Speaker 4: be like, when you're making money and you go out

719
00:32:37,040 --> 00:32:39,480
Speaker 4: with friends, are you hanging out with savers or spenders.

720
00:32:39,520 --> 00:32:41,760
Speaker 4: Are you hanging out with people who are spending from

721
00:32:41,840 --> 00:32:44,360
Speaker 4: their passive income through investments or they're spending through.

722
00:32:44,280 --> 00:32:45,120
Speaker 3: Their active income.

723
00:32:45,800 --> 00:32:48,840
Speaker 4: You got people who have nice cars, they do nice things,

724
00:32:48,840 --> 00:32:51,920
Speaker 4: they fly first class. All this stuff is great. It's

725
00:32:51,960 --> 00:32:53,880
Speaker 4: okay to do this. These are things I do. But

726
00:32:54,040 --> 00:32:56,320
Speaker 4: how you spend the money is a huge difference. Are

727
00:32:56,360 --> 00:32:58,680
Speaker 4: you trading your time to get these things?

728
00:32:58,920 --> 00:32:59,440
Speaker 3: You are you?

729
00:33:00,520 --> 00:33:02,280
Speaker 4: Is it your investments that are paying for And I

730
00:33:02,280 --> 00:33:05,040
Speaker 4: think that's the biggest difference between I would say someone

731
00:33:05,120 --> 00:33:07,560
Speaker 4: has a poor mindset and a rich mindset. A poor

732
00:33:07,600 --> 00:33:10,520
Speaker 4: mindset if someone says they make twenty bucks an hour

733
00:33:10,600 --> 00:33:12,920
Speaker 4: they want to buy PS five and they're calculating, Okay,

734
00:33:12,960 --> 00:33:15,160
Speaker 4: I need to work ten, twenty or thirty hours to

735
00:33:15,200 --> 00:33:17,560
Speaker 4: get the PS five plus the controllers and the games

736
00:33:17,560 --> 00:33:20,360
Speaker 4: that I want, whereas investment, a rich mindset is going

737
00:33:20,400 --> 00:33:22,720
Speaker 4: to say, I also want the PS five, but I

738
00:33:22,760 --> 00:33:25,440
Speaker 4: need to invest and make sure my dividends or payments

739
00:33:25,720 --> 00:33:27,280
Speaker 4: are going to cover so I can. I don't have

740
00:33:27,320 --> 00:33:30,840
Speaker 4: to trade my time or hourly hourly economic value to

741
00:33:31,280 --> 00:33:33,920
Speaker 4: get the PS five. But friend, this is this is

742
00:33:33,920 --> 00:33:38,560
Speaker 4: a tough one because you know, family. Most families are born,

743
00:33:38,720 --> 00:33:43,440
Speaker 4: you know, we don't get born with multimillionaire guru parents

744
00:33:43,640 --> 00:33:47,480
Speaker 4: and siblings. So sometimes your family is not the best place.

745
00:33:47,840 --> 00:33:50,920
Speaker 4: Often it isn't to get money value. I'll just share transparently.

746
00:33:51,400 --> 00:33:55,200
Speaker 4: My family was really great at saving. I learned how

747
00:33:55,200 --> 00:33:58,360
Speaker 4: to be really frugal. But my parents were not really

748
00:33:58,400 --> 00:34:01,440
Speaker 4: good at investment thing. They didn't invest in the stock market.

749
00:34:01,520 --> 00:34:05,920
Speaker 4: They invested in treasury and they did bonds and CDs,

750
00:34:06,240 --> 00:34:08,879
Speaker 4: and they always thought that the stock market was way

751
00:34:08,920 --> 00:34:11,279
Speaker 4: too risky. And so like I had to, I had

752
00:34:11,280 --> 00:34:15,120
Speaker 4: to seek external help and ask questions, like to one

753
00:34:15,160 --> 00:34:17,600
Speaker 4: of my first mentors at a college, professor was like,

754
00:34:17,840 --> 00:34:20,080
Speaker 4: what's a roth ray? You mentioned that I've never heard

755
00:34:20,120 --> 00:34:23,000
Speaker 4: of this thing, and and so you know, sometimes your family, uh,

756
00:34:23,400 --> 00:34:25,680
Speaker 4: maybe you have no good examples of family. Maybe they're

757
00:34:25,760 --> 00:34:28,200
Speaker 4: terrible spenders. They have racked up credit card that and

758
00:34:28,200 --> 00:34:29,879
Speaker 4: they think it's normal. They think paying it.

759
00:34:29,800 --> 00:34:30,880
Speaker 3: Off is a total waste.

760
00:34:30,920 --> 00:34:33,120
Speaker 4: These are people that I'm not saying you have to

761
00:34:33,120 --> 00:34:36,040
Speaker 4: cut them out completely, but you do if you can

762
00:34:36,080 --> 00:34:38,799
Speaker 4: find people who are where you're at, but they want

763
00:34:38,840 --> 00:34:41,160
Speaker 4: to have an upward trajection versus stay the same.

764
00:34:41,520 --> 00:34:42,040
Speaker 3: That's all.

765
00:34:42,360 --> 00:34:44,000
Speaker 4: What we're really saying is to be careful of who

766
00:34:44,000 --> 00:34:45,960
Speaker 4: you get your money advice from and try to find

767
00:34:45,960 --> 00:34:48,600
Speaker 4: a tribe of people who are trying to elevate their status,

768
00:34:48,680 --> 00:34:52,000
Speaker 4: not necessarily saying hey, like, okay, I read this, I

769
00:34:52,040 --> 00:34:54,360
Speaker 4: need to find some millionaire friends and then start knocking

770
00:34:54,400 --> 00:34:57,080
Speaker 4: on doors looking familiars. Like that's going to be a losing,

771
00:34:57,239 --> 00:35:00,239
Speaker 4: losing place. But Brad and I say, there's people right

772
00:35:00,280 --> 00:35:02,320
Speaker 4: now who are broke, but they have a rich mindset

773
00:35:02,320 --> 00:35:03,680
Speaker 4: and it's only a matter of time for them to

774
00:35:03,719 --> 00:35:04,880
Speaker 4: be doing well.

775
00:35:04,960 --> 00:35:06,000
Speaker 1: So on we met our time. I love that.

776
00:35:06,120 --> 00:35:08,040
Speaker 2: Yeah, you got to be It pays to be selective

777
00:35:08,200 --> 00:35:10,840
Speaker 2: with who it is that you surround yourself with. So

778
00:35:10,880 --> 00:35:14,080
Speaker 2: you're talking about just I guess, taking more if you're

779
00:35:14,080 --> 00:35:16,200
Speaker 2: playing the rich game versus if you're playing the poor game,

780
00:35:16,239 --> 00:35:18,920
Speaker 2: and how you view spending money. But on the earning

781
00:35:18,960 --> 00:35:22,040
Speaker 2: side of the equation, you guys have a chapter titled

782
00:35:22,320 --> 00:35:25,320
Speaker 2: you Don't Deserve More, which, again this sounds really harsh.

783
00:35:25,320 --> 00:35:27,960
Speaker 2: But why doctor Brad, I'll pitch this one to you,

784
00:35:28,000 --> 00:35:31,279
Speaker 2: But why do you believe that folks out there they

785
00:35:31,280 --> 00:35:32,560
Speaker 2: don't deserve to make more money?

786
00:35:32,760 --> 00:35:33,040
Speaker 1: Yeah?

787
00:35:33,080 --> 00:35:35,080
Speaker 5: So what we're really trying to say here is that

788
00:35:35,120 --> 00:35:38,400
Speaker 5: it's not about your personal worth, Like you're obviously priceless,

789
00:35:38,440 --> 00:35:41,200
Speaker 5: you're a priceless human being, but your economic worth is

790
00:35:41,280 --> 00:35:43,920
Speaker 5: being determined by the marketplace, and for you to be

791
00:35:43,960 --> 00:35:47,160
Speaker 5: in denial about that and to just blame external factors.

792
00:35:47,160 --> 00:35:50,279
Speaker 5: So it's your boss, it's your corporation, it's all these

793
00:35:50,280 --> 00:35:52,680
Speaker 5: other people, and that's the reason why that you're not

794
00:35:53,040 --> 00:35:55,680
Speaker 5: getting paid enough. We just feel like that's an extremely

795
00:35:55,880 --> 00:35:59,320
Speaker 5: limiting and self destructive mindset. And so essentially the mindset

796
00:35:59,320 --> 00:36:01,359
Speaker 5: we want you to have is that you're getting paid

797
00:36:01,360 --> 00:36:04,040
Speaker 5: what's you're worth right now. That's what the market is saying.

798
00:36:04,360 --> 00:36:07,120
Speaker 5: And you might say, well that's unfair or I deserve more,

799
00:36:07,160 --> 00:36:08,800
Speaker 5: and we're saying, well, I'm not sure.

800
00:36:08,600 --> 00:36:09,000
Speaker 3: That you do.

801
00:36:09,200 --> 00:36:11,319
Speaker 5: Like, if you want to get paid more, maybe you

802
00:36:11,320 --> 00:36:14,719
Speaker 5: need to increase your economic value you're worth. And so

803
00:36:14,840 --> 00:36:17,240
Speaker 5: maybe that means that you need to go back to school.

804
00:36:17,320 --> 00:36:19,239
Speaker 5: Maybe that means you need to get another skill set.

805
00:36:19,280 --> 00:36:21,040
Speaker 5: I mean, there's a bunch of different ways you can

806
00:36:21,280 --> 00:36:23,720
Speaker 5: increase your economic worth. Maybe you need to work harder.

807
00:36:24,480 --> 00:36:26,239
Speaker 5: And if you say to me, oh no, but I'm

808
00:36:26,280 --> 00:36:29,160
Speaker 5: worth so much more and nobody's paying attention. Then the

809
00:36:29,239 --> 00:36:32,200
Speaker 5: question is are you in the right job. Like, for example,

810
00:36:32,280 --> 00:36:35,960
Speaker 5: you could be the best possible public school teacher ever.

811
00:36:36,920 --> 00:36:39,399
Speaker 5: You could go to Washington, d c. And get the

812
00:36:39,440 --> 00:36:42,840
Speaker 5: Presidential Medal of Freedom because you're an incredible teacher, and

813
00:36:42,880 --> 00:36:44,400
Speaker 5: when you go back, you're going to get paid the

814
00:36:44,480 --> 00:36:47,520
Speaker 5: same amount because it's about how long you've been teaching.

815
00:36:47,600 --> 00:36:49,359
Speaker 5: So maybe you're in the wrong game if you're wanting

816
00:36:49,400 --> 00:36:52,319
Speaker 5: to make more money, or perhaps you can say that

817
00:36:52,360 --> 00:36:54,240
Speaker 5: it really comes down to the fact that I truly

818
00:36:54,280 --> 00:36:56,400
Speaker 5: am being undervalued, and so we would say, then well,

819
00:36:56,440 --> 00:36:58,320
Speaker 5: maybe you need to look to move to a place

820
00:36:58,719 --> 00:37:00,960
Speaker 5: where you can get paid what you actually think you're worth,

821
00:37:01,000 --> 00:37:03,200
Speaker 5: or at least test that theory out. And if you

822
00:37:03,239 --> 00:37:05,120
Speaker 5: can't find anyone who will pay you more, then maybe

823
00:37:05,120 --> 00:37:06,759
Speaker 5: you need to go back to our chapter and saying, well,

824
00:37:06,760 --> 00:37:09,000
Speaker 5: you're getting paid what you were and so it's really

825
00:37:09,080 --> 00:37:10,440
Speaker 5: a message of empowerment.

826
00:37:10,560 --> 00:37:13,120
Speaker 1: Frankly, I mean you're spot on the teacher thing. I

827
00:37:13,160 --> 00:37:15,000
Speaker 1: was talking to someone the other day and you can

828
00:37:15,080 --> 00:37:17,719
Speaker 1: like literally look up how much teachers get paid based

829
00:37:17,719 --> 00:37:19,799
Speaker 1: on the level of education that they have. You could

830
00:37:19,840 --> 00:37:22,200
Speaker 1: have a doctorate from Harvard and you're still going to

831
00:37:22,239 --> 00:37:24,160
Speaker 1: be capped at like one hundred and thirty thousand dollars

832
00:37:24,200 --> 00:37:27,600
Speaker 1: a year at most public schools something like that. Obviously,

833
00:37:28,360 --> 00:37:30,080
Speaker 1: it's going to vary a little bit depending on what

834
00:37:30,120 --> 00:37:32,360
Speaker 1: school district you're teaching in, but that is something to

835
00:37:32,400 --> 00:37:33,839
Speaker 1: take note of. It. It doesn't mean that you don't

836
00:37:33,880 --> 00:37:36,239
Speaker 1: still decide to pursue teaching as a profession because it's

837
00:37:36,239 --> 00:37:37,879
Speaker 1: something that you love, it's near dear to your heart,

838
00:37:38,080 --> 00:37:40,040
Speaker 1: but just know, yeah, yeah, the marketplace is going to

839
00:37:40,080 --> 00:37:44,000
Speaker 1: determine what you get paid. Another provocative phrase that I

840
00:37:44,040 --> 00:37:47,080
Speaker 1: read in the book is retirement is for dead people.

841
00:37:47,480 --> 00:37:50,719
Speaker 1: And I was thinking, man, we talked about saving or

842
00:37:50,760 --> 00:37:53,520
Speaker 1: investing for retirement so much on this show, but if

843
00:37:53,600 --> 00:37:56,319
Speaker 1: retirement is a worthless concept or it's just for dead people,

844
00:37:56,320 --> 00:37:57,839
Speaker 1: then what have we been doing here?

845
00:37:58,160 --> 00:38:00,239
Speaker 5: Well, you know what we did is we look up

846
00:38:00,280 --> 00:38:02,879
Speaker 5: the word the definition of the word retirement to start with,

847
00:38:03,120 --> 00:38:06,640
Speaker 5: and it basically means to stop working. And when you

848
00:38:06,640 --> 00:38:09,600
Speaker 5: look up the definition of work, work is you know,

849
00:38:09,680 --> 00:38:13,360
Speaker 5: effort put into achieving a purpose or a result. And

850
00:38:13,440 --> 00:38:15,719
Speaker 5: so part of what we're doing with this chapter is

851
00:38:16,040 --> 00:38:20,160
Speaker 5: a couple things so versus a clinical observation. So people

852
00:38:20,280 --> 00:38:23,080
Speaker 5: will very often pin their hopes and dreams on retirement,

853
00:38:23,120 --> 00:38:25,560
Speaker 5: like then I'll be happy. Then all my life's going

854
00:38:25,600 --> 00:38:28,080
Speaker 5: to be great, all my problems are going to melt away.

855
00:38:28,120 --> 00:38:30,120
Speaker 5: And they'll do one of two things. They'll stay in

856
00:38:30,160 --> 00:38:33,560
Speaker 5: a job they hate with this idea that retirement is

857
00:38:33,960 --> 00:38:35,840
Speaker 5: really going to get me what I want, which is

858
00:38:35,840 --> 00:38:39,200
Speaker 5: a terrible way to go through life. Or they will

859
00:38:39,880 --> 00:38:42,279
Speaker 5: they won't put any thought into what retirement means, and

860
00:38:42,280 --> 00:38:44,240
Speaker 5: they'll think, I'll just stop working. And I've seen people

861
00:38:44,320 --> 00:38:47,920
Speaker 5: cash out on you know, twenty five million payout on

862
00:38:48,000 --> 00:38:51,960
Speaker 5: their business. I've seen people and to retirement after they've

863
00:38:51,960 --> 00:38:53,960
Speaker 5: been hustling for years and years and years, and then

864
00:38:54,040 --> 00:38:56,640
Speaker 5: six months into it they're depressed and lonely. They got

865
00:38:56,680 --> 00:38:59,560
Speaker 5: no sense of purpose. And so what we're really doing

866
00:38:59,560 --> 00:39:02,960
Speaker 5: here is to redefine what that means for people because

867
00:39:03,200 --> 00:39:05,840
Speaker 5: for many really important psychological reasons.

868
00:39:05,960 --> 00:39:06,160
Speaker 1: Yeah.

869
00:39:06,160 --> 00:39:09,440
Speaker 2: Actually, I think in that chapter you talk about RHS,

870
00:39:09,680 --> 00:39:13,239
Speaker 2: which is I think it's retired husband syndrome. So can

871
00:39:13,280 --> 00:39:15,680
Speaker 2: you talk about that, like you, I can't.

872
00:39:15,520 --> 00:39:17,640
Speaker 1: Remember the exact stats that syndrome whatever it is.

873
00:39:17,840 --> 00:39:21,360
Speaker 2: Well, specifically in Japan, I think that is that like

874
00:39:21,400 --> 00:39:23,840
Speaker 2: an actual clinical diagnosis it is.

875
00:39:23,880 --> 00:39:25,400
Speaker 5: I'll kick it over to Adrian, who just spent a

876
00:39:25,440 --> 00:39:27,960
Speaker 5: couple months in Japan. I'm not sure if you're researching

877
00:39:27,960 --> 00:39:29,920
Speaker 5: that concept while you're there, Adrian, No.

878
00:39:29,960 --> 00:39:34,239
Speaker 4: But it's become such an epidemic of this retirement of

879
00:39:34,360 --> 00:39:39,359
Speaker 4: losing a sense of purpose that it causes I mean,

880
00:39:39,480 --> 00:39:43,400
Speaker 4: it's it's sad, but it causes death. It even causes suicide.

881
00:39:43,640 --> 00:39:47,040
Speaker 4: It causes such a level of depression because because there's

882
00:39:47,080 --> 00:39:49,279
Speaker 4: no sense a sense of purpose, so they have they've

883
00:39:49,280 --> 00:39:52,840
Speaker 4: created programs that kind of like are are in place

884
00:39:52,920 --> 00:39:56,360
Speaker 4: to help because this and this is the whole I

885
00:39:56,360 --> 00:39:58,480
Speaker 4: would say, the dark side of retirement. We don't think

886
00:39:58,560 --> 00:40:02,400
Speaker 4: we retirement ads are all painted like they're like nice

887
00:40:02,600 --> 00:40:07,839
Speaker 4: and Sepia toned with sunsets and beaches. But the dark

888
00:40:07,920 --> 00:40:10,080
Speaker 4: side is like, oh my god, I don't know what

889
00:40:10,120 --> 00:40:11,960
Speaker 4: to do and I'm like, like what am I supposed

890
00:40:11,960 --> 00:40:13,840
Speaker 4: to do with my life? And I don't know how

891
00:40:13,880 --> 00:40:16,600
Speaker 4: many years I left and this is this my right purpose?

892
00:40:16,840 --> 00:40:21,640
Speaker 4: Like and having almost so much unstructured time is actually

893
00:40:21,640 --> 00:40:23,480
Speaker 4: a problem you have. You have to have some sense

894
00:40:23,520 --> 00:40:28,920
Speaker 4: of purpose. So in Japan, they actually created programs to

895
00:40:29,000 --> 00:40:32,239
Speaker 4: help with this because it's actually a serious issue and

896
00:40:32,480 --> 00:40:33,959
Speaker 4: it it's hard.

897
00:40:34,000 --> 00:40:35,840
Speaker 3: You know, I'm I'm thirty five years old, so I

898
00:40:36,960 --> 00:40:38,440
Speaker 3: I think.

899
00:40:39,320 --> 00:40:40,719
Speaker 4: The best thing I can do is try to like

900
00:40:40,840 --> 00:40:43,920
Speaker 4: live a lifestyle that I don't want to retire from.

901
00:40:44,160 --> 00:40:46,120
Speaker 4: And I think that's what we can all try to

902
00:40:46,200 --> 00:40:49,520
Speaker 4: hope and aspire to, because it's hard to imagine thirty

903
00:40:49,600 --> 00:40:51,920
Speaker 4: years from now. For I would say me and a

904
00:40:51,920 --> 00:40:53,960
Speaker 4: lot of people actually really think about thirty years from now,

905
00:40:53,960 --> 00:40:55,799
Speaker 4: whatever the number is for you, when you would like

906
00:40:55,880 --> 00:40:58,880
Speaker 4: to think yourself retired and then and then all that

907
00:40:58,960 --> 00:41:01,319
Speaker 4: unstructured time, it might not be a good thing.

908
00:41:01,320 --> 00:41:02,879
Speaker 3: We might need to have something to do.

909
00:41:02,960 --> 00:41:05,200
Speaker 4: But one thing you can do to make sure that

910
00:41:05,200 --> 00:41:08,600
Speaker 4: that's not like such a big moment is to actually

911
00:41:08,800 --> 00:41:10,919
Speaker 4: start living a life that you would that you don't

912
00:41:10,920 --> 00:41:13,080
Speaker 4: need to retire from, that you don't need to vacation from,

913
00:41:13,120 --> 00:41:15,240
Speaker 4: that that you just really love exactly.

914
00:41:15,400 --> 00:41:16,560
Speaker 1: Yeah, that's uh.

915
00:41:16,800 --> 00:41:19,080
Speaker 2: We talk about Coast fire and how there's it's a

916
00:41:19,120 --> 00:41:22,239
Speaker 2: dimmer switch as opposed to like a hard switch where

917
00:41:22,280 --> 00:41:23,439
Speaker 2: it's either on or off.

918
00:41:23,520 --> 00:41:25,400
Speaker 1: But if you hate your job right now, it doesn't

919
00:41:25,400 --> 00:41:27,680
Speaker 1: mean you're going to like quit tomorrow. Find the job

920
00:41:27,719 --> 00:41:30,040
Speaker 1: of your dreams the next day. It's not gonna happen overnight,

921
00:41:30,080 --> 00:41:32,800
Speaker 1: but I agree like changing changing that slowly but surely

922
00:41:32,880 --> 00:41:33,320
Speaker 1: is crucial.

923
00:41:33,480 --> 00:41:37,080
Speaker 5: Yeah, I'd strongly encourage you to love your job instead

924
00:41:37,080 --> 00:41:40,279
Speaker 5: of hating it. That that's terrible. So find ways to

925
00:41:40,360 --> 00:41:44,840
Speaker 5: love it, that's one possibility. Or maybe look to transition

926
00:41:44,960 --> 00:41:48,120
Speaker 5: to something that you can actually really enjoy, because life

927
00:41:48,160 --> 00:41:51,319
Speaker 5: is short, and for you to spend fifty years at

928
00:41:51,320 --> 00:41:55,880
Speaker 5: a job you hate is just that is very I'm

929
00:41:55,920 --> 00:41:58,000
Speaker 5: not going to recommend that as your psychologist. I think

930
00:41:58,520 --> 00:42:01,879
Speaker 5: that's a terrible idea. And so yeah, we're trying to

931
00:42:01,920 --> 00:42:04,080
Speaker 5: sort of redefine that and ideally like try to have

932
00:42:04,200 --> 00:42:07,200
Speaker 5: some of that retirement now, you know, like how can

933
00:42:07,239 --> 00:42:09,480
Speaker 5: you buy back more of your time and what would

934
00:42:09,520 --> 00:42:11,680
Speaker 5: you really picture yourself doing. Oh, well, I want to

935
00:42:11,719 --> 00:42:13,840
Speaker 5: play then I'll play golf. It's like, well, maybe you

936
00:42:13,840 --> 00:42:15,680
Speaker 5: should start finding ways to play golf.

937
00:42:15,719 --> 00:42:16,879
Speaker 1: Now, Yeah, you're white.

938
00:42:16,920 --> 00:42:18,399
Speaker 5: Your wife's will understand just.

939
00:42:18,360 --> 00:42:20,640
Speaker 2: A little a little bit on the front end. Now,

940
00:42:20,680 --> 00:42:23,719
Speaker 2: Otherwise that way you don't find yourself in an existential

941
00:42:23,800 --> 00:42:25,600
Speaker 2: crisis further on down the road.

942
00:42:25,640 --> 00:42:27,600
Speaker 1: But you're actually good at golf in retirement then too.

943
00:42:27,960 --> 00:42:30,919
Speaker 2: Yeah, and you've got friends to play with because you've

944
00:42:30,920 --> 00:42:34,160
Speaker 2: maintained relationships all along the way. But Doctor Brad Adrian,

945
00:42:34,200 --> 00:42:35,759
Speaker 2: we've got more to get to. Maybe we'll get to

946
00:42:35,840 --> 00:42:39,640
Speaker 2: some of the different extreme measures that folks should consider

947
00:42:39,680 --> 00:42:41,480
Speaker 2: taking when they're looking to boost their income.

948
00:42:41,480 --> 00:42:51,520
Speaker 1: We will get to that and more right after this. Right,

949
00:42:51,520 --> 00:42:53,920
Speaker 1: we're back for still talking with doctor Brad and Adrian

950
00:42:54,080 --> 00:42:57,239
Speaker 1: talking about harsh but helpful money truths. Just kind of

951
00:42:57,680 --> 00:43:01,120
Speaker 1: drill sergeant it, drill sergeant Y. So they're laying it

952
00:43:01,120 --> 00:43:03,680
Speaker 1: out there like they see it. In one of the

953
00:43:03,719 --> 00:43:08,120
Speaker 1: final chapters, Guys, you cover kind of some extreme ways

954
00:43:08,239 --> 00:43:10,560
Speaker 1: that we should be changing our money habits. And I

955
00:43:10,560 --> 00:43:13,040
Speaker 1: think sometimes people are like, oh, just move the rudder

956
00:43:13,080 --> 00:43:15,080
Speaker 1: slowly but surely. And I was kind of actually alluding

957
00:43:15,120 --> 00:43:16,480
Speaker 1: to that. When it comes to changing your job, that

958
00:43:16,480 --> 00:43:19,080
Speaker 1: doesn't usually happen overnight, but when it comes to changing

959
00:43:19,120 --> 00:43:23,440
Speaker 1: some of our money habits, you think maybe the more quickly,

960
00:43:23,520 --> 00:43:24,560
Speaker 1: the more extreme, the better.

961
00:43:24,680 --> 00:43:24,879
Speaker 3: Right.

962
00:43:25,000 --> 00:43:28,360
Speaker 5: Yeah, So sometimes we hear people say I can't afford

963
00:43:28,400 --> 00:43:32,560
Speaker 5: to invest, and you know, again we sort of explore

964
00:43:32,600 --> 00:43:35,920
Speaker 5: that hypothesis, like, I mean, maybe that's true. By the way,

965
00:43:35,960 --> 00:43:38,880
Speaker 5: I don't think so. I bet if you let Adrian

966
00:43:38,920 --> 00:43:41,040
Speaker 5: and I really get in there, I bet you we

967
00:43:41,040 --> 00:43:43,799
Speaker 5: could find some places that you could if you had

968
00:43:43,800 --> 00:43:46,239
Speaker 5: just had the mindset that you investing was really important you.

969
00:43:46,280 --> 00:43:48,640
Speaker 5: So for the we have a chapter that's titled get

970
00:43:48,680 --> 00:43:51,960
Speaker 5: a roommate, get on the bus, get sober, get bald,

971
00:43:52,880 --> 00:43:55,759
Speaker 5: or shut up about being broke, you know. And so

972
00:43:55,800 --> 00:43:57,840
Speaker 5: it's like pay yourself first first of all, you know,

973
00:43:58,040 --> 00:44:01,360
Speaker 5: go get a side hustle, make some extra income. Not

974
00:44:01,440 --> 00:44:03,719
Speaker 5: to get too far into it, but Adrian is the

975
00:44:03,800 --> 00:44:06,560
Speaker 5: side hustle king. And by the way, it's great, like

976
00:44:06,719 --> 00:44:08,520
Speaker 5: he gave me. I told him my son wanted to

977
00:44:08,560 --> 00:44:11,120
Speaker 5: make some money. He's eleven. Adrian's like, oh, maybe he

978
00:44:11,160 --> 00:44:13,440
Speaker 5: could do this side hustle. Get this, My eleven year

979
00:44:13,440 --> 00:44:16,160
Speaker 5: old son is making five grand this month from his

980
00:44:16,200 --> 00:44:19,560
Speaker 5: little side hustle. What. Yeah, absolutely, and they'll tell you

981
00:44:19,640 --> 00:44:22,719
Speaker 5: all about it. But for this chapter, it's like make

982
00:44:22,760 --> 00:44:25,000
Speaker 5: some cuts, you know, like you can't afford to invest,

983
00:44:25,640 --> 00:44:27,040
Speaker 5: go ahead and make some cuts. So we looked at

984
00:44:27,040 --> 00:44:30,880
Speaker 5: how much the average American spends on rent, on their car,

985
00:44:31,200 --> 00:44:34,799
Speaker 5: on alcohol, and on going to the salon, and you know,

986
00:44:35,360 --> 00:44:38,879
Speaker 5: just to make that a short story. If you got

987
00:44:38,880 --> 00:44:42,080
Speaker 5: a roommate, if you rode the bus, if you shaved

988
00:44:42,080 --> 00:44:44,880
Speaker 5: your head like I do, by the way, you'll look great.

989
00:44:46,400 --> 00:44:48,319
Speaker 1: What if I have a lumpy head, Brad, have a

990
00:44:48,360 --> 00:44:48,919
Speaker 1: lumpy head.

991
00:44:49,000 --> 00:44:49,680
Speaker 5: It's worth it.

992
00:44:49,440 --> 00:44:50,319
Speaker 1: It's worth it.

993
00:44:50,960 --> 00:44:53,160
Speaker 5: And if you did all that and for twenty five

994
00:44:53,239 --> 00:44:56,160
Speaker 5: years and you just invested the savings, you'd have two

995
00:44:56,239 --> 00:44:59,200
Speaker 5: point eight million dollars more. And that's the average American.

996
00:44:59,280 --> 00:45:02,040
Speaker 5: So there's all sorts things you could cut. Those things

997
00:45:02,040 --> 00:45:04,319
Speaker 5: will probably sound terrible to you, So then just pay

998
00:45:04,360 --> 00:45:07,319
Speaker 5: yourself first or look to increase your income. But we

999
00:45:07,400 --> 00:45:08,600
Speaker 5: accept no excuses.

1000
00:45:08,840 --> 00:45:11,359
Speaker 2: Yeah, so the joke actually is is that I started

1001
00:45:11,360 --> 00:45:12,920
Speaker 2: to cut my own hair, Brad, when I was ten

1002
00:45:13,000 --> 00:45:13,719
Speaker 2: years old.

1003
00:45:13,600 --> 00:45:16,520
Speaker 1: So I've got a solid thirty plus years.

1004
00:45:16,440 --> 00:45:19,040
Speaker 2: Of not having paid the barber. However much, can you

1005
00:45:19,040 --> 00:45:21,000
Speaker 2: give a quick thirty second breakdown as to how it

1006
00:45:21,040 --> 00:45:22,520
Speaker 2: is your eleven year old is making five grand?

1007
00:45:22,600 --> 00:45:22,799
Speaker 1: Yeah?

1008
00:45:22,800 --> 00:45:24,600
Speaker 5: Sure, I'm gonna kick it over to Adrian, because Adrian

1009
00:45:24,680 --> 00:45:27,160
Speaker 5: turned me onto the side hustle. And by the way,

1010
00:45:27,200 --> 00:45:29,520
Speaker 5: the first month he made thirty seven cents and this

1011
00:45:29,600 --> 00:45:30,960
Speaker 5: month he's set to make five grand.

1012
00:45:31,000 --> 00:45:33,920
Speaker 4: Adrian, Okay, I'll make this really specific so people can

1013
00:45:33,960 --> 00:45:39,680
Speaker 4: actually do this from this podcast. So there is an Amazon.

1014
00:45:39,719 --> 00:45:43,279
Speaker 4: If you've been shopping lately, you notice that in the

1015
00:45:43,480 --> 00:45:46,480
Speaker 4: product there you have the photos and then typically have

1016
00:45:46,520 --> 00:45:48,879
Speaker 4: a video from the company. So I have a Tragger grill,

1017
00:45:48,960 --> 00:45:51,720
Speaker 4: for example, and Trager the company makes a video saying

1018
00:45:52,120 --> 00:45:54,520
Speaker 4: this is Trager Grill, It's the best smoker in the world.

1019
00:45:54,680 --> 00:45:56,680
Speaker 3: Well, people, we don't really.

1020
00:45:56,480 --> 00:45:59,440
Speaker 4: Buy into an official company video because they're never going

1021
00:45:59,520 --> 00:46:02,040
Speaker 4: to say something bad about their own product, right or

1022
00:46:02,080 --> 00:46:05,840
Speaker 4: like raw or authentic. So Amazon noticed that in the

1023
00:46:05,880 --> 00:46:07,880
Speaker 4: review sections at the very bottom when you click at

1024
00:46:07,920 --> 00:46:11,480
Speaker 4: the reviews, that just because people wanted to do it

1025
00:46:11,520 --> 00:46:14,360
Speaker 4: for no reason, they were creating their own product review

1026
00:46:14,440 --> 00:46:16,920
Speaker 4: videos of the of the products. So, and I know

1027
00:46:17,000 --> 00:46:19,319
Speaker 4: I've I often will go to the reviews. I look

1028
00:46:19,320 --> 00:46:21,000
Speaker 4: at the videos and say, what is this person Like,

1029
00:46:21,080 --> 00:46:22,319
Speaker 4: I want to see what it looks like and I

1030
00:46:22,320 --> 00:46:26,080
Speaker 4: want to hear just some raw cut, normal person like, hey, yeah,

1031
00:46:26,080 --> 00:46:28,399
Speaker 4: this is my Trigger grill. Just smoked up salmon here,

1032
00:46:28,440 --> 00:46:30,279
Speaker 4: and no, you know, it's pretty good like that kind

1033
00:46:30,280 --> 00:46:32,839
Speaker 4: of stuff. It's way more authentic. And they learned that

1034
00:46:33,280 --> 00:46:37,320
Speaker 4: when people watch that video because of the authenticity. It

1035
00:46:37,360 --> 00:46:40,200
Speaker 4: would increase the conversion rate of this of the amount

1036
00:46:40,239 --> 00:46:42,279
Speaker 4: of people who would say, yes, I am going to

1037
00:46:42,320 --> 00:46:45,360
Speaker 4: buy this trigger grill because of those raw, human, regular,

1038
00:46:45,560 --> 00:46:49,440
Speaker 4: unprofessional videos. So Amazon created this program to incentivize that.

1039
00:46:49,480 --> 00:46:52,359
Speaker 4: And now today when you go shopping, instead of those

1040
00:46:52,440 --> 00:46:55,440
Speaker 4: videos being at the bottom, they actually get officially placed

1041
00:46:55,520 --> 00:46:57,399
Speaker 4: in the product reviews. You can go on your phone

1042
00:46:57,440 --> 00:46:59,279
Speaker 4: right now and look at any type of product and

1043
00:47:00,120 --> 00:47:03,319
Speaker 4: might actually have you keep swiping a regular video from

1044
00:47:03,440 --> 00:47:06,640
Speaker 4: Joe Schmo just talking about whatever this product is and

1045
00:47:06,719 --> 00:47:11,120
Speaker 4: just giving his raw, unbiased testimonial of his user.

1046
00:47:10,960 --> 00:47:14,120
Speaker 3: Is application of it. Okay, So this is the opportunity.

1047
00:47:14,880 --> 00:47:18,200
Speaker 4: Amazon is now has a program where you can create

1048
00:47:18,239 --> 00:47:20,480
Speaker 4: product reviews off of anything in your house that's that

1049
00:47:20,520 --> 00:47:23,160
Speaker 4: you've purchased from Amazon, and then you can upload those

1050
00:47:23,200 --> 00:47:26,799
Speaker 4: to Amazon kind of like YouTube, and then you they're

1051
00:47:26,880 --> 00:47:29,200
Speaker 4: at they would actually exist on the product page. And

1052
00:47:29,239 --> 00:47:32,080
Speaker 4: how you make money is when someone watches at least

1053
00:47:32,120 --> 00:47:35,120
Speaker 4: thirty seconds of your video and then purchases, you're gonna

1054
00:47:35,120 --> 00:47:37,600
Speaker 4: make a two to five percent commission on that product.

1055
00:47:37,719 --> 00:47:39,520
Speaker 4: But here's the thing where it gets crazy and how

1056
00:47:39,520 --> 00:47:43,480
Speaker 4: it can scale quickly is, uh, there's another business model

1057
00:47:43,480 --> 00:47:47,120
Speaker 4: online called affiliate marketing, and so that one works completely opposite.

1058
00:47:47,200 --> 00:47:49,719
Speaker 4: You take you have a trigger, grill affiliate link, and

1059
00:47:49,800 --> 00:47:51,760
Speaker 4: I basically have to go out into the world and say, guys,

1060
00:47:51,760 --> 00:47:54,640
Speaker 4: buy this trigger, Guys buy this trigger. But right now,

1061
00:47:54,640 --> 00:47:57,279
Speaker 4: if I just made a video and you upload it

1062
00:47:57,320 --> 00:48:00,759
Speaker 4: to the Amazon page, there's there's already people by the

1063
00:48:00,920 --> 00:48:04,040
Speaker 4: hundreds thousands or some products tens of thousands that are

1064
00:48:04,080 --> 00:48:06,120
Speaker 4: purchasing every day, and now your video is just going

1065
00:48:06,200 --> 00:48:07,759
Speaker 4: to exist on there. So if you have a really

1066
00:48:07,760 --> 00:48:11,160
Speaker 4: successful video that's increasing the conversion rate, you have all

1067
00:48:11,239 --> 00:48:14,279
Speaker 4: the already built in traffic of regular buyers who are

1068
00:48:14,320 --> 00:48:16,640
Speaker 4: watching and buying and watching and buying and watching and buying.

1069
00:48:16,760 --> 00:48:18,560
Speaker 4: And so like my I did a review on my

1070
00:48:18,680 --> 00:48:22,320
Speaker 4: Shark vacuums like a Rumba, and then on Black Friday

1071
00:48:22,360 --> 00:48:24,719
Speaker 4: Cyber Monday last year, that one video I made made

1072
00:48:24,719 --> 00:48:26,640
Speaker 4: two thousand bucks in that one day from all the

1073
00:48:26,640 --> 00:48:28,279
Speaker 4: amount of people who watched it and check it out.

1074
00:48:28,480 --> 00:48:30,200
Speaker 4: So if you want to go and sign up, it's free.

1075
00:48:30,280 --> 00:48:33,680
Speaker 4: It's called the Amazon Influencer Program. And you don't need

1076
00:48:33,719 --> 00:48:35,840
Speaker 4: to be an influencer. You just have to be active

1077
00:48:35,880 --> 00:48:36,600
Speaker 4: on social media.

1078
00:48:37,080 --> 00:48:40,959
Speaker 1: That's cool. So many unique ways to make money out there. Last,

1079
00:48:41,000 --> 00:48:42,759
Speaker 1: but not least, I just want to say, like you guys,

1080
00:48:42,760 --> 00:48:46,160
Speaker 1: when we're talking about the extreme measures, the extreme suggestions

1081
00:48:46,160 --> 00:48:50,319
Speaker 1: that you guys offer to basically get your money back

1082
00:48:50,360 --> 00:48:53,640
Speaker 1: in shape, well you also talk about I guess your time,

1083
00:48:53,800 --> 00:48:56,680
Speaker 1: and maybe sometimes what we lack is is money to

1084
00:48:56,680 --> 00:48:58,279
Speaker 1: start something we want to we want to get off

1085
00:48:58,320 --> 00:49:01,080
Speaker 1: the ground. But oftentimes it's it can feel like a

1086
00:49:01,160 --> 00:49:05,960
Speaker 1: lack of time. But Brad, you guys highlight how canceling Netflix.

1087
00:49:05,960 --> 00:49:08,600
Speaker 1: It might not seem extreme, but it's kind of integral

1088
00:49:08,640 --> 00:49:10,799
Speaker 1: to prospering because when you think about binging a TV show,

1089
00:49:10,800 --> 00:49:13,120
Speaker 1: how much time we're wasting. How big of a problem

1090
00:49:13,200 --> 00:49:15,120
Speaker 1: is that to people actually succeeding with those goals.

1091
00:49:15,560 --> 00:49:20,240
Speaker 5: Yeah, so you know Netflix costs you so much more

1092
00:49:20,480 --> 00:49:23,640
Speaker 5: than whatever monthly fee you're paying for. It costs you

1093
00:49:23,719 --> 00:49:26,279
Speaker 5: so many hours of your life. Now that's fine. You

1094
00:49:26,280 --> 00:49:28,560
Speaker 5: can spend your life anyway you want, just don't complain

1095
00:49:28,560 --> 00:49:32,200
Speaker 5: about being broke if you're spending all that time binging Netflix.

1096
00:49:32,200 --> 00:49:36,040
Speaker 5: And this was Adrian's very clever idea. So we have

1097
00:49:36,080 --> 00:49:39,080
Speaker 5: a chapter that talks about this particular side hustle we

1098
00:49:39,160 --> 00:49:41,600
Speaker 5: just talked about, but he goes through like the top

1099
00:49:41,680 --> 00:49:44,640
Speaker 5: ten Netflix series and he adds up the number of

1100
00:49:44,719 --> 00:49:47,880
Speaker 5: hours that you would take out of your life to

1101
00:49:47,920 --> 00:49:50,759
Speaker 5: watch that entire series, and he connects it directly to

1102
00:49:51,040 --> 00:49:54,480
Speaker 5: a side hustle that could increase your income by one

1103
00:49:54,480 --> 00:49:56,319
Speaker 5: thousand and fifteen hundred a month, And if you just

1104
00:49:56,400 --> 00:49:59,560
Speaker 5: invested that time in that side hustle instead, you could

1105
00:49:59,560 --> 00:50:03,000
Speaker 5: be matically increasing your income. So it's it's a bit

1106
00:50:03,040 --> 00:50:06,000
Speaker 5: of an intervention, and we encourage people to pull out

1107
00:50:06,040 --> 00:50:08,760
Speaker 5: their phone right now and look at how much time

1108
00:50:08,840 --> 00:50:12,840
Speaker 5: they're spending on their phone, because chances are if you

1109
00:50:12,960 --> 00:50:15,799
Speaker 5: just took that time and invested it in a side

1110
00:50:15,880 --> 00:50:20,880
Speaker 5: hustle or in increasing your economic value, that you'd you know, profoundly,

1111
00:50:21,360 --> 00:50:24,040
Speaker 5: profoundly advance yourself in terms of how much money you're

1112
00:50:24,040 --> 00:50:24,520
Speaker 5: able to make.

1113
00:50:24,719 --> 00:50:27,120
Speaker 2: Yeah, it's not just the sixty hours that you're going

1114
00:50:27,160 --> 00:50:29,040
Speaker 2: to spend binging breaking back.

1115
00:50:29,120 --> 00:50:31,360
Speaker 1: It's the countless hours, the sad.

1116
00:50:31,200 --> 00:50:33,359
Speaker 2: Reality of looking at your screen time and realizing how

1117
00:50:33,400 --> 00:50:37,319
Speaker 2: often we're also on Instagram and whatever social media is

1118
00:50:37,440 --> 00:50:41,200
Speaker 2: your particular advice, but doctor brad Adrian, we really appreciate

1119
00:50:41,200 --> 00:50:43,920
Speaker 2: you guys, chat with us today. We really like y'all's

1120
00:50:43,960 --> 00:50:46,600
Speaker 2: approach and I think it's I think it's needed out there.

1121
00:50:46,640 --> 00:50:47,640
Speaker 1: There's a lot of books.

1122
00:50:47,400 --> 00:50:50,440
Speaker 2: That are They're kind, they're comforting, you know, it's like

1123
00:50:50,480 --> 00:50:53,560
Speaker 2: a warm, blankly epathetic. Sometimes you just need to hear

1124
00:50:53,640 --> 00:50:57,440
Speaker 2: straight but yeah, sometimes you need the raw, harsh truths.

1125
00:50:57,480 --> 00:51:00,880
Speaker 2: But working folks. Learn more about the that will be

1126
00:51:00,960 --> 00:51:03,040
Speaker 2: available for sale next Tuesday.

1127
00:51:03,360 --> 00:51:03,720
Speaker 3: Awesome.

1128
00:51:03,800 --> 00:51:05,960
Speaker 4: Yes, Actually, first of all, thank you so much for

1129
00:51:06,000 --> 00:51:09,240
Speaker 4: having us, and so we wanted to create a special page.

1130
00:51:09,280 --> 00:51:11,360
Speaker 4: You can definitely get the book wherever you buy books,

1131
00:51:11,760 --> 00:51:14,440
Speaker 4: or you could go to start Thinking Rich dot com

1132
00:51:14,480 --> 00:51:17,399
Speaker 4: slash how to Money, and if you go through that link,

1133
00:51:17,440 --> 00:51:19,080
Speaker 4: you'll be able to get a link to the book.

1134
00:51:19,120 --> 00:51:21,520
Speaker 4: But most importantly, you'll get extra bonuses. And that's just

1135
00:51:21,560 --> 00:51:23,600
Speaker 4: when we can give back to your audience for having us.

1136
00:51:23,760 --> 00:51:26,960
Speaker 1: Awesome fellas, we so appreciate it. Thank you again for joining.

1137
00:51:26,800 --> 00:51:28,640
Speaker 3: Us, Thanks so much for having us, for having us.

1138
00:51:29,160 --> 00:51:31,640
Speaker 2: All right, Joel, was this the first interview that we've

1139
00:51:31,680 --> 00:51:34,960
Speaker 2: had with two separate guests who weren't in the same place.

1140
00:51:35,080 --> 00:51:38,000
Speaker 1: There might be I think so this is.

1141
00:51:37,400 --> 00:51:40,000
Speaker 2: The first time we'll have a four track recording that

1142
00:51:40,040 --> 00:51:43,040
Speaker 2: I got tod. No, this was an awesome conversation though

1143
00:51:43,040 --> 00:51:45,400
Speaker 2: with both doctor Brad and Adrian. Do you have a

1144
00:51:45,440 --> 00:51:48,239
Speaker 2: big takeaway from our I would say fun convo with them.

1145
00:51:48,280 --> 00:51:50,200
Speaker 2: It's fun to talk talk with another company that was

1146
00:51:50,239 --> 00:51:50,520
Speaker 2: so fun.

1147
00:51:50,520 --> 00:51:53,280
Speaker 1: They were great and those It's like so much good

1148
00:51:53,360 --> 00:51:56,120
Speaker 1: information in this one. So if you want to, if

1149
00:51:56,120 --> 00:51:58,920
Speaker 1: you're inclined to send an episode to friends or family,

1150
00:51:58,960 --> 00:52:00,239
Speaker 1: this this might be a good one. Right to get

1151
00:52:00,239 --> 00:52:02,000
Speaker 1: the ball roll out on a good money money convo.

1152
00:52:02,440 --> 00:52:04,920
Speaker 1: But I think the thing that stuck out to me

1153
00:52:04,960 --> 00:52:07,719
Speaker 1: the most was when Adrian said, you got to hit

1154
00:52:07,760 --> 00:52:10,120
Speaker 1: publish and then you got a grind, and he detailed

1155
00:52:10,520 --> 00:52:12,439
Speaker 1: kind of how long it took him to actually become

1156
00:52:12,480 --> 00:52:15,960
Speaker 1: profitable when it came to online businesses. He was starting

1157
00:52:16,160 --> 00:52:19,319
Speaker 1: wrote that down too, and man, this is two years. Yeah,

1158
00:52:19,400 --> 00:52:20,879
Speaker 1: I was gonna you didn't say it, so I said

1159
00:52:20,880 --> 00:52:23,680
Speaker 1: it two years. It's took him two years before he

1160
00:52:23,760 --> 00:52:27,359
Speaker 1: was making anything. Even then it wasn't much. You gotta

1161
00:52:27,440 --> 00:52:29,840
Speaker 1: stick with it. You gotta have that belief and you

1162
00:52:29,920 --> 00:52:32,280
Speaker 1: got to say I know what I'm going after here.

1163
00:52:32,400 --> 00:52:34,480
Speaker 1: There's so much content that gets made in the passive

1164
00:52:34,480 --> 00:52:37,160
Speaker 1: income space, whether you're talking about real estate, whether we're

1165
00:52:37,160 --> 00:52:40,879
Speaker 1: talking about online business formation, and so much of it is, Hey,

1166
00:52:40,880 --> 00:52:43,160
Speaker 1: it's really easy, it'll happen overnight, and you're gonna make

1167
00:52:43,200 --> 00:52:45,920
Speaker 1: tons of money. And I think ninety eight percent of

1168
00:52:45,960 --> 00:52:48,080
Speaker 1: the time it's a scam. It's a lie. Actually, probably

1169
00:52:48,280 --> 00:52:50,279
Speaker 1: more than ninety eight percent of the time. And so

1170
00:52:50,320 --> 00:52:53,120
Speaker 1: I appreciate kind of the realism that Adrian brought to

1171
00:52:53,120 --> 00:52:56,320
Speaker 1: that conversation. It's like, yeah, you can make big money.

1172
00:52:56,520 --> 00:52:57,839
Speaker 1: You can get to the point where you can buy

1173
00:52:57,880 --> 00:52:59,840
Speaker 1: a forty thousand dollars paillball court put it in your

1174
00:52:59,840 --> 00:53:02,399
Speaker 1: back like he is. You can get there, but it's

1175
00:53:02,440 --> 00:53:05,160
Speaker 1: gonna take time and dedication. It's not gonna be built

1176
00:53:05,160 --> 00:53:06,200
Speaker 1: in a day. Totally. Yeah.

1177
00:53:06,239 --> 00:53:08,120
Speaker 2: So my big takeaway is also going to be from Adrian,

1178
00:53:08,200 --> 00:53:10,880
Speaker 2: and it's when we were talking about retirement. I mean,

1179
00:53:10,920 --> 00:53:13,280
Speaker 2: he said some great stuff, but for whatever reason, whatever

1180
00:53:13,400 --> 00:53:16,000
Speaker 2: Audrian was saying today spoke to both of us. But

1181
00:53:16,080 --> 00:53:18,440
Speaker 2: he said to try and create a lifestyle. But this

1182
00:53:18,480 --> 00:53:20,280
Speaker 2: is what he does. I try and create a lifestyle

1183
00:53:20,320 --> 00:53:23,160
Speaker 2: that I don't want to retire from. Holy Cow. That

1184
00:53:23,239 --> 00:53:25,839
Speaker 2: completely resonated with me as I think through like, at

1185
00:53:25,840 --> 00:53:28,319
Speaker 2: this point, maybe we're closer to retirement than we are

1186
00:53:28,560 --> 00:53:31,040
Speaker 2: like the very beginning of our career. And when you think,

1187
00:53:31,280 --> 00:53:34,000
Speaker 2: so many of like my bigger actually retirements for dead people. Maths,

1188
00:53:34,040 --> 00:53:36,040
Speaker 2: it's for dead people. But many more of my thoughts

1189
00:53:36,080 --> 00:53:38,560
Speaker 2: have meant about the bigger questions, as you know, like

1190
00:53:38,600 --> 00:53:40,200
Speaker 2: what do I want my life to look like like

1191
00:53:40,239 --> 00:53:41,880
Speaker 2: later on down the road? And what I'm realizing is

1192
00:53:41,920 --> 00:53:44,000
Speaker 2: I really like what my life looks like now, and

1193
00:53:44,080 --> 00:53:47,240
Speaker 2: so how can I start to incorporate more fun elements

1194
00:53:47,239 --> 00:53:48,960
Speaker 2: and things that I enjoy on a day to day

1195
00:53:49,000 --> 00:53:51,600
Speaker 2: basis so that I can continue living the life that

1196
00:53:51,600 --> 00:53:54,320
Speaker 2: I'm living now without feeling like that there needs to

1197
00:53:54,360 --> 00:53:55,319
Speaker 2: be a massive.

1198
00:53:54,960 --> 00:53:57,960
Speaker 1: Departure from quote unquote work. But uh yeah, So we

1199
00:53:58,040 --> 00:53:59,800
Speaker 1: live in a culture that he said that that's obsessed

1200
00:53:59,840 --> 00:54:01,960
Speaker 1: with work, that's kind of centered around work, and so

1201
00:54:02,040 --> 00:54:04,480
Speaker 1: you have to kind of be like a salmon swimming upstream.

1202
00:54:04,480 --> 00:54:06,279
Speaker 1: You have to go against the current to be the

1203
00:54:06,360 --> 00:54:07,920
Speaker 1: kind of person who says I'm not going to make

1204
00:54:08,120 --> 00:54:10,879
Speaker 1: work the central animating focus of my life. It's probably

1205
00:54:10,880 --> 00:54:12,680
Speaker 1: going to take some proactive steps on your part. It's

1206
00:54:12,680 --> 00:54:14,719
Speaker 1: probably gonna take some time to start to change that

1207
00:54:14,880 --> 00:54:16,880
Speaker 1: so that you do enjoy your life more in the

1208
00:54:16,920 --> 00:54:19,560
Speaker 1: here and now, and so that maybe work is not

1209
00:54:20,080 --> 00:54:22,319
Speaker 1: non existent right when I talk about retiring, but so

1210
00:54:22,360 --> 00:54:24,319
Speaker 1: that it's not just the end all be all.

1211
00:54:24,400 --> 00:54:26,120
Speaker 2: Yeah, you don't want to over idolize it and put

1212
00:54:26,120 --> 00:54:27,800
Speaker 2: it up on this pedestal, but it's also not something

1213
00:54:27,800 --> 00:54:30,040
Speaker 2: that you're completely going to dismiss because it is how

1214
00:54:30,080 --> 00:54:32,080
Speaker 2: you're able to, you know, contribute to the world.

1215
00:54:32,120 --> 00:54:33,680
Speaker 1: But all right, let's get to the beer. You and

1216
00:54:33,760 --> 00:54:37,480
Speaker 1: I real quickly. Here we enjoyed a Jewel City, which.

1217
00:54:37,320 --> 00:54:40,920
Speaker 2: I guess they're calling a California Common beer, like a

1218
00:54:41,320 --> 00:54:43,040
Speaker 2: is like a farmhouse common or like I don't know,

1219
00:54:43,120 --> 00:54:44,640
Speaker 2: maybe something like that. No, no, no, but this is a

1220
00:54:44,640 --> 00:54:46,160
Speaker 2: beer by Brewyard Beer Co.

1221
00:54:46,760 --> 00:54:47,520
Speaker 1: What were your thoughts?

1222
00:54:47,520 --> 00:54:52,120
Speaker 2: Oh, and thank you to our buddy jo akaa other Joel.

1223
00:54:52,280 --> 00:54:55,000
Speaker 1: For donating this one to the podcast. Akay Better Joel,

1224
00:54:55,600 --> 00:54:58,000
Speaker 1: Thank you, Joel. This is this was a classic amber

1225
00:54:58,120 --> 00:55:00,760
Speaker 1: style beer. It had the kind of ca normal, sweet

1226
00:55:00,880 --> 00:55:03,560
Speaker 1: vibes that you typically get from an amber matt. When

1227
00:55:03,600 --> 00:55:07,200
Speaker 1: I first started drinking craft beers, ambers and those kind

1228
00:55:07,200 --> 00:55:10,040
Speaker 1: of brown nails were my absolute favorite. So it's just

1229
00:55:10,040 --> 00:55:12,560
Speaker 1: brought me back to those kind of early craft beer

1230
00:55:12,640 --> 00:55:15,160
Speaker 1: drinking days. Couldn't agree more. Yeah, it's got that Those

1231
00:55:15,200 --> 00:55:16,399
Speaker 1: toasted malts.

1232
00:55:16,320 --> 00:55:18,000
Speaker 2: Just makes it makes you feel like you're munching on

1233
00:55:18,040 --> 00:55:21,439
Speaker 2: a really great piece of toast. Yeah, crust included because

1234
00:55:21,480 --> 00:55:23,360
Speaker 2: that's the best part. With a little drizzel honey on it.

1235
00:55:23,440 --> 00:55:24,480
Speaker 2: It's got a little sweetness.

1236
00:55:24,520 --> 00:55:24,719
Speaker 3: Right.

1237
00:55:25,200 --> 00:55:26,759
Speaker 2: But I'm glad you know I got to share this

1238
00:55:26,800 --> 00:55:29,239
Speaker 2: one today. But you can head to the show notes

1239
00:55:29,239 --> 00:55:31,759
Speaker 2: at howdomoney dot com. We'll make sure to link to

1240
00:55:31,920 --> 00:55:34,960
Speaker 2: the url that the Fellas are going to be setting

1241
00:55:35,000 --> 00:55:36,920
Speaker 2: up there where you can get some extras in addition

1242
00:55:37,200 --> 00:55:38,160
Speaker 2: to their book.

1243
00:55:38,360 --> 00:55:41,440
Speaker 1: Start thinking rich. But buddy, that is going to be

1244
00:55:41,480 --> 00:55:42,360
Speaker 1: it for this episode.

1245
00:55:42,360 --> 00:55:45,959
Speaker 2: So until next time, best Friends Out, Best Friends Out,