Speaker 1: Hey, hey, hey, we're back. We're extra well, not black,
Speaker 1: but extra brown. Ambition, ambition, ambition, ambition, ambition.
Speaker 2: Welcome ba Fan.
Speaker 1: I'm so excited because we have one of the oh
Speaker 1: gee's in the game on Brown and Bison today. You know,
Speaker 1: y'all always want to call me somebody's auntie, not you
Speaker 1: thirty year old. You tried it, but I will say
Speaker 1: REMI has been in the game longer than me. Let
Speaker 1: me tell you a little something. F First of all,
Speaker 1: let me tell you how it was introduced to remed
Speaker 1: so y'all knew. I grew up in the household where
Speaker 1: my dad talked about money to my sisters and I'm
Speaker 1: happy Father's Day just passed. And he born and raised
Speaker 1: in Nigeria, super super immigrant house school. It was like
Speaker 1: Nigeria in the house in like America every place else.
Speaker 1: And I can distinctly remember my older sister Karen going
Speaker 1: to school college. We went to Rutgers and coming back
Speaker 1: like one summer, maybe it was her freshman year, and
Speaker 1: her being like, cause, you know, we listened to my dad.
Speaker 2: But who's trying to listen to your parents? And she
Speaker 2: was like, oh my god.
Speaker 1: I have this book and he knows exactly. She's like,
Speaker 1: it's a money book, but it's like he grew up
Speaker 1: the way we grew up with like these immigradparents, and
Speaker 1: you're like, what are you talking about. She was like,
Speaker 1: he's really funny. And I remembered this thing and I
Speaker 1: have if anybody knows me, I got the worst memory possible.
Speaker 1: And she showed me and it was I will teach
Speaker 1: you to be rich. And she was like, he's walking
Speaker 1: me step by step. I've had a manify money because
Speaker 1: she had like messed up all of her finances and
Speaker 1: she did cut co nive. Sorry to put your business
Speaker 1: on blast care because she listens, Oh well, girl, it
Speaker 1: was a long time ago. She did cut co nive.
Speaker 2: Child.
Speaker 1: She every financial mistake she made she could think of,
Speaker 1: she made, and so I remember thinking that was the
Speaker 1: very first I didn't even know because at the time
Speaker 1: I was I'm two years younger than her and I
Speaker 1: was still in high school. I didn't I never thought
Speaker 1: about books on money, and I guess I probably thought
Speaker 1: about it was like for like I don't know old people,
Speaker 1: and she was so excited about it and showing me
Speaker 1: like little lines if you don't you know meat has
Speaker 1: quite the personality, so she would showing me different lines
Speaker 1: inside the book, and I was like really.
Speaker 2: So that's how I was first introduced to Rematra.
Speaker 1: Meat is the host of Netflix's hit show How to
Speaker 1: Get Rich and the author of the New York Times
Speaker 1: bestseller I Will Teach You to Be Rich. Remat is
Speaker 1: known for his unconventional insights on money, psychology, and his
Speaker 1: no nonsense approach to designing and.
Speaker 2: Living a rich life. Okay.
Speaker 1: He was born in California to an Indian immigrant to
Speaker 1: born in California to Indian immigrant parents. He attended Stanford
Speaker 1: Oh he's a smarties, That's why I forgot about that
Speaker 1: on scholarship, where he studied technology, psychology, and persuasion, earning
Speaker 1: undergraduate and graduate degrees FORMI began his company, I Will
Speaker 1: Teach You to Be Rich from his college dorm room
Speaker 1: in two thousand and four. His goal was to reframe
Speaker 1: the way we think about money, so in two thousand
Speaker 1: and nine he published his book, his first book, I
Speaker 1: Will Teach You to Be Rich, which became in New
Speaker 1: York Times bestseller and cemented his reputation as a leading
Speaker 1: voice in personal finance. Ramat also hosts a popular podcast
Speaker 1: call I Will Teach You to Be Rich, which features
Speaker 1: real couples sharing real stories with real numbers from.
Speaker 2: Behind closed doors.
Speaker 1: His influence in the personal finance space has continued to
Speaker 1: expand with his recent release of Netflix How to Get Rich,
Speaker 1: which became an instant top ten Netflix show. When I
Speaker 1: tell you how hard that is, I don't think I
Speaker 1: understand because I'll be doing my Googles and my numbers,
Speaker 1: and that is really hard to do to get to
Speaker 1: be in the top ten because Netflix at any moment
Speaker 1: has like one hundreds of.
Speaker 2: Thousands of shows.
Speaker 1: So the show features Remeat's trademark practical and actionable advice
Speaker 1: and follows him as he helps real people transform their
Speaker 1: finances and take control of their financial futures. Ramat's financial
Speaker 1: philosophy is centered around several key principles, including the importance
Speaker 1: of automating your finances Love that, using money psychology to
Speaker 1: prioritize your dials super love that, and focusing on thirty
Speaker 1: thousand dollars questions instead of three dollar ones. The shade
Speaker 1: is real about them three dollars. I feel so bad
Speaker 1: for the late guy. I'm not gonna say his name
Speaker 1: because we're gonna shade him. But that poor Latte guy.
Speaker 1: I mean it was at the time, it seemed like
Speaker 1: a good idea.
Speaker 2: Anyway, we welcome for me to the stew So welcome
Speaker 2: to the stew for me.
Speaker 3: Thank you so much for coming, Thanks for having me.
Speaker 3: It's great to be here.
Speaker 2: Yeah, I'm so excited.
Speaker 1: I don't think I've ever met you in person, like
Speaker 1: just like via social media?
Speaker 3: Is that right?
Speaker 2: Yeah, I don't think.
Speaker 1: We've ever I don't think I'm looking at you him like, no,
Speaker 1: con no, not even fin con No. I don't think
Speaker 1: we've we were ever at a or if I was
Speaker 1: at a fincnn back that I didn't.
Speaker 2: I mean, I knew of you, but I didn't know you.
Speaker 3: So oh man, Well it's a pleasure to see you
Speaker 3: in person.
Speaker 2: No, this is awesome.
Speaker 1: So well, one, I want to take it back to
Speaker 1: two thousand and nine, right, what made you like write
Speaker 1: this book, like this funny, helpful book when no one
Speaker 1: was writing books to young people about money?
Speaker 2: Like what was the impetus to all of that?
Speaker 3: Honestly, one of the biggest reasons I wrote it was
Speaker 3: I had I was getting the same ten questions every
Speaker 3: day of my life. I was like I don't want
Speaker 3: to answer a question about a roth Ira anymore. Here
Speaker 3: here's the book. It's going to answer your question, and
Speaker 3: it's going to actually show you the thirty other questions
Speaker 3: you really should be asking. So that was one reason
Speaker 3: I had started my blog in college. And I started
Speaker 3: it not because I had some grand master plan. It
Speaker 3: was that I was taken some of my scholarship money
Speaker 3: put in the stock market, lost half of it. Realized
Speaker 3: I wasn't as smart as I thought. And as I
Speaker 3: learned about money, and I was studying human behavior persuasion psychology,
Speaker 3: I started developing my own point of view on money.
Speaker 3: And so when I tried to teach my college friends
Speaker 3: about personal finance, they all were like, yeah, that sounds cool,
Speaker 3: and then they would never show up. And this was free,
Speaker 3: free classes I was giving away and I did that
Speaker 3: for a year and a half. Nobody came. It was
Speaker 3: very demoralizing when you have something that you feel the
Speaker 3: world needs to hear but nobody is listening. And I
Speaker 3: realized this was a very pivotal moment. I could just
Speaker 3: give up. But I was a little arrogant, you know,
Speaker 3: I was a twenty year old kid. I go, they
Speaker 3: need to hear this. Maybe I'm not sharing it in
Speaker 3: the right way. Maybe college kids don't want to come
Speaker 3: to events about money, even if they're free. And I
Speaker 3: later learned that's true. People don't like going to events
Speaker 3: about money makes them feel bad about themselves. So I
Speaker 3: started a blog. Spent five years plus on the blog,
Speaker 3: every day writing, treating it like a lab, and by
Speaker 3: the time it came time to even think about doing
Speaker 3: a book, I had talked to hundreds of thousands of
Speaker 3: people and really refined this system for saving money automatically,
Speaker 3: for investing, even knowing how to calculate how much to
Speaker 3: save for a wedding or by buying a house or
Speaker 3: a car, and those things I was ready to share
Speaker 3: with the world.
Speaker 2: That's awesome.
Speaker 1: So did they Were you approached about the book or
Speaker 1: did is there something you pitched?
Speaker 3: I was approached at the time, around two thousand and six,
Speaker 3: there were some publishers who started reaching out. One of
Speaker 3: the things, I think I have a skill that just
Speaker 3: I don't know where it came from. But I'm very patient.
Speaker 3: I'm not in a rush for anything, so I knew,
Speaker 3: you know, if you come knocking on my door, you're
Speaker 3: probably not the kind of person that I want to
Speaker 3: publish my book. I was very patient, and I had
Speaker 3: built some relationships with people in the publishing industry. I
Speaker 3: had interned for Seth Godin, and so I made friends
Speaker 3: with his agent, and I called a lot of people
Speaker 3: and asked like, should I write a book? Should I not?
Speaker 3: And a lot of the advice. The same advice I
Speaker 3: give people now who are thinking about writing a book
Speaker 3: is I say, slow down, write a book when you're
Speaker 3: absolutely ready. When you feel like you have to write
Speaker 3: a book, be clear about why it's not so you
Speaker 3: can see your book in a bookstore. That is a
Speaker 3: that's a sort of very surface level goal. I had
Speaker 3: something that I knew the world needed to hear. I
Speaker 3: had refined it over years. I didn't care about money
Speaker 3: from a book. In fact, I took a pretty small deal.
Speaker 3: My publishing deal for I Will Teach You to Be
Speaker 3: Rich first edition was quite modest. I chose a publisher
Speaker 3: that paid less, but I chose them because, just like me,
Speaker 3: they are known to invest for the long term. So
Speaker 3: eighty percent of their sales come from the backlist. That's
Speaker 3: exactly what I wanted, and so that is how I
Speaker 3: decided to sell my book in two thousand and seven,
Speaker 3: and I started writing it for the next two years.
Speaker 1: No, I love that because I honestly your book was
Speaker 1: one of my You Tim Ferris, I remember telling my casaying,
Speaker 1: I was like, I mean, the money's cool, but I
Speaker 1: make plenty of money externally, you know, so and I
Speaker 1: also knew enough to know that. I mean, very few
Speaker 1: people get quote unquote rich off of books, you know,
Speaker 1: just because people don't know that even if you get
Speaker 1: like I got a good size, you know, like my
Speaker 1: idea was a pretty decent size, but it was over
Speaker 1: two years. I'm like, I make more than that, you know,
Speaker 1: in a few months. So it wasn't the money. It
Speaker 1: was because I'd been approached prior, but it was also
Speaker 1: I just was like I didn't I wasn't really sure
Speaker 1: about what I wanted to say, and I didn't want
Speaker 1: to just be talking to be talking, and so finally
Speaker 1: I was ready to do my book. So one thing
Speaker 1: that you know, I don't know if you're I'm sure
Speaker 1: you know you're known for this is that you like
Speaker 1: to shake the table right for.
Speaker 3: Me, Like, yes, I'm a little teddy bear, what are
Speaker 3: you talking about. I'm known as the greatest Indian teddy
Speaker 3: Bear online? What are you talking about? Yo? With me?
Speaker 1: Loves to shake the table And what I love is
Speaker 1: that you you're like you're not going to back down
Speaker 1: from from like you like I said what I said
Speaker 1: and this is why.
Speaker 3: So wait, hold on, why would why would I back
Speaker 3: down when I'm right?
Speaker 2: See look at the teddy.
Speaker 1: Bear coming out with it with the wage to play
Speaker 1: behind his back.
Speaker 2: And so I would love to talk about some of
Speaker 2: the things that people push.
Speaker 1: Back like the most with you on as they're listening
Speaker 1: and like you know and then how you know? Like
Speaker 1: why is this your So there's something for me. For example,
Speaker 1: I've been doing a lot of research on the racial
Speaker 1: wealth gap and like how do we get here? And
Speaker 1: so for those who don't know the racial wealth gap,
Speaker 1: typically when they think the racial wealth gap, they're thinking
Speaker 1: the gap between white families and black families is right now,
Speaker 1: is like for every dollar white family has, a black
Speaker 1: family has, well, for every ten dollars white family has,
Speaker 1: a black family has one dollar, and figuring out like
Speaker 1: how do we get here? And one of the components
Speaker 1: that they cite as being part of the reason why
Speaker 1: there is a racial wealth gap is a lack of
Speaker 1: home ownership in the black community, you know, and also too,
Speaker 1: not just lack of home ownership, but also that homes
Speaker 1: are devalued. Like just go look at Brooklyn, you know
Speaker 1: when it was like black people teaming there.
Speaker 2: You know, homes are worth nothing. Like I live in Newark.
Speaker 1: I mean, that's why I don't like to pick up
Speaker 1: my phone because every second someone is calling me to
Speaker 1: buy my home, which lets you know that gentrification is
Speaker 1: well on its way. But you know, Newark is still
Speaker 1: largely but when that changes, the value of these homes
Speaker 1: will totally change. So anyway, I was, I know, you
Speaker 1: have this thing about like you don't need home ownership
Speaker 1: to grow wealth. So I'm just curious about, like, you know,
Speaker 1: just because as my studies, I'm doing research about like
Speaker 1: home ownership being cited as one of the reasons why
Speaker 1: there isn't wealth in black and brown communities. Like what
Speaker 1: is your theory on, like, you know, well you don't
Speaker 1: need home ownership. Is that because home ownership? Maybe that
Speaker 1: was the Well you tell me, Like, why is it
Speaker 1: that you push back on home ownership?
Speaker 3: First of all, I'm so glad that we get to
Speaker 3: talk about personal finance and race, personal finance and politics
Speaker 3: because money is political, and that is one of the
Speaker 3: biggest things that I get pushed pushed back on, which
Speaker 3: is I literally have you know some dude wearing Oakley's
Speaker 3: telling me stick to finance? I go, are you? Are
Speaker 3: you actually? Do you actually lack this level of intellect
Speaker 3: that you don't realize money is as political as it gets.
Speaker 3: The reason housing is expensive is political. The reason healthcare
Speaker 3: is expensive is political. The reason you drive a big
Speaker 3: ass truck is political. It's not just that you like
Speaker 3: the truck and it's got a hemi engine. No, it's political.
Speaker 3: So when it comes to home ownership, I have a
Speaker 3: very strong point of view on home ownership and it's multifaceted,
Speaker 3: like home ownership is in this country. You know a
Speaker 3: lot of people they obsess over their marble island. Okay,
Speaker 3: they obsess over what color their cabinets are. What they
Speaker 3: really should ask questions about is is why am I
Speaker 3: not allowed to build an adu or a granny unit
Speaker 3: in my backyard? Why is that not legally allowed? Why
Speaker 3: am I not allowed to build multiple stories if I
Speaker 3: want to? Why am I required to have a gigantic
Speaker 3: bat front yard that nobody uses, and I actually have
Speaker 3: to spend time and money to mow it. And by
Speaker 3: the way, what role did race play in all of
Speaker 3: these rules? Why is it that in America single family
Speaker 3: homes are the American dream? Why is that? And most
Speaker 3: people have no idea, They never thought about this, They'd
Speaker 3: rather think about the color of their cabinets. So when
Speaker 3: you read books like The Color of Law, you realize
Speaker 3: that home ownership redlining, that home ownership has been a
Speaker 3: wedge to drive wealth for primarily white Americans in this country. Historically,
Speaker 3: it's not an accident. It was intentionally done so, and
Speaker 3: so freeways were created in poor communities and that has
Speaker 3: lasting effects. Okay for a lot of people, probably not
Speaker 3: listening to this podcast, maybe listening to Joe Rogan, that
Speaker 3: would be shocking, and many of them simply deny it. Well,
Speaker 3: if you try hard, harder than you can make more money.
Speaker 3: I'm sick of that shit. We've all heard it. And
Speaker 3: if you actually understand history, if you've read a single
Speaker 3: history book, you know that that's not how it works.
Speaker 3: There's not bootstraps. When they're running a freeway through your
Speaker 3: and intentionally dividing your neighborhood as they did for decades. Now,
Speaker 3: let's talk about home ownership as an investment, because that's
Speaker 3: a it's a related but different concept. In America, we're
Speaker 3: obsessed with home ownership. We believe that if you rent,
Speaker 3: you're a loser. We believe. We even have phrases borderline
Speaker 3: religious phrases, you're throwing money away on rent, you're paying
Speaker 3: your landlord's mortgage. I call them religious because they lack
Speaker 3: any actual data. They're just words we repeat over and
Speaker 3: over and over until people actually start to believe them. Well,
Speaker 3: it turns out that home ownership is certainly one way
Speaker 3: that you can build wealth. Historically, in our country, it
Speaker 3: has been a very powerful way to build wealth. That's
Speaker 3: not simply because homes themselves are great investments. It's that
Speaker 3: when people in this country buy homes, they become Nimbi's
Speaker 3: not in my backyard. They prevent more housing from being built,
Speaker 3: therefore artificially boosting the price and value of their house.
Speaker 3: And so they basically, like a diamond dealer, they limit
Speaker 3: how many diamonds flood on the market, they limit how
Speaker 3: many houses, and so they buy a house for two
Speaker 3: hundred thousand dollars and the value goes up. If the
Speaker 3: market were actually free and we could build as much
Speaker 3: housing as is necessary, their house would look much more
Speaker 3: like Tokyo, where prices do not go way up, and
Speaker 3: instead housing is like any other commodity you buy, it depreciates,
Speaker 3: in my opinion, as the way it should. So the
Speaker 3: thing that people find controversial is that I say you
Speaker 3: should run the numbers on the biggest purchase of your life.
Speaker 3: And sometimes renting can be a superior financial decision to
Speaker 3: owning house, which in my case it absolutely is no.
Speaker 1: And that makes sense because I mean, so I'm because
Speaker 1: people are like, I know, they're like, Tiffany, you brought home.
Speaker 1: So I'm like, yes, But the caveat y'all, remember that
Speaker 1: I purchased a home I'm living in now. It was
Speaker 1: it was a foreclosure, had been foreclosure for like, I
Speaker 1: don't know, like a year, and so I bought it
Speaker 1: directly from the bank. It was at the time worth
Speaker 1: like three hundred thousand. I bought it for one eighty
Speaker 1: cash so I didn't have to worry about, like, you know,
Speaker 1: like renovating or whatever, and so.
Speaker 2: And then I put one eighty into it.
Speaker 1: So that brought my investment to three sixties, so it
Speaker 1: was around worth about I think I said three hundred.
Speaker 2: I think worth like three sixty three eighty, you know.
Speaker 1: So I bought it really cheap. I didn't have to
Speaker 1: worry about a mortgage. Newark, where I live, it has
Speaker 1: the lowest taxes in Essex County. So my tax at
Speaker 1: the time, I want to say, like seventy five hundred.
Speaker 1: So I was like, okay, And now I don't you know,
Speaker 1: I didn't have a mortgage. And now the house, because
Speaker 1: everything was so crazy, is worth you know, like five
Speaker 1: hundred and five to twenty, especially now just because you
Speaker 1: know everyone's trying to gentrify Nework. And then I purchased
Speaker 1: another home a few like almost around the same time,
Speaker 1: directly from the city a tax ded for ten thousand
Speaker 1: dollars and I put one hundred and thirty into it
Speaker 1: and I recently just sold it for ninety five and
Speaker 1: so but those are not I tell people that, like,
Speaker 1: I mean, obviously that those deals are not available all
Speaker 1: the time. But I to your point, I try to
Speaker 1: be patient because I have to run the numbers. I
Speaker 1: did not run the numbers on my first property when
Speaker 1: I was twenty five I bought a condo for two
Speaker 1: twenty it went up to two twenty five, and then
Speaker 1: I bought a two thousand and six, and then the
Speaker 1: market just crashed and I lost it to foreclosure. And
Speaker 1: so I learned from that, like oh, up until then,
Speaker 1: from two thousand and six to like five years ago,
Speaker 1: I was still renting until I found something that that
Speaker 1: was going to make sense for me, you know, to purchase.
Speaker 3: So it's pretty interesting. I like that you are encouraging
Speaker 3: your listeners to run the numbers. I want to share
Speaker 3: some numbers from my own example as well. So I've
Speaker 3: lived in San Francisco, New York City, and LA and
Speaker 3: high cost of living cities and high cost of living
Speaker 3: neighborhoods within those cities. I like to live in a
Speaker 3: nice place, and I could go and buy a house
Speaker 3: today cash in any of those cities. I choose to rent.
Speaker 3: So when people hear this, it's like somebody telling them
Speaker 3: the sky is green. They're like, wait, I will teach
Speaker 3: you to be rich. Guy rents and they're shocked. Why
Speaker 3: Because again, in our country, deep down, we believe that
Speaker 3: owning is for successful people and renting is for losers.
Speaker 3: And so when they look at me. They go, well,
Speaker 3: this guy has a show on Netflix, he's got this
Speaker 3: best selling book. How can he rent? That's a moment
Speaker 3: where they start to question some of the beliefs that
Speaker 3: have been passed on to us for generations. You got
Speaker 3: to own a house, you gotta build equity. So let
Speaker 3: me tell you. When I was living in New York,
Speaker 3: I kept an extremely close eye on real estate values. Okay,
Speaker 3: a couple of things I want to share that might
Speaker 3: prize people. First off, my rent dropped four times in
Speaker 3: eleven years. Okay, yes, people in America think rent only
Speaker 3: goes up wrong. Just like the price of anything, rent
Speaker 3: is governed by supply and demand. But guess what. When
Speaker 3: I asked, they go, that's not possible. Rent never goes up.
Speaker 3: I go, number one, do you keep a close eye
Speaker 3: on real estate values in your market? They go no?
Speaker 3: I go number two, do you actually negotiate? They go,
Speaker 3: what's that? I go, then, how the hell do you
Speaker 3: expect rent to drop? If you yourself are not actually negotiating.
Speaker 3: Your landlord doesn't just walk in and drop your rent?
Speaker 3: Why would they? You got to ask, and you got
Speaker 3: to have You got to be lucky in the sense
Speaker 3: that there has to be more supply, which there was
Speaker 3: in my case. And you know, you need to know
Speaker 3: your numbers. So that's number one. The second is there
Speaker 3: is an apartment building right next to us, and it
Speaker 3: had this. There was a unit there, it had this,
Speaker 3: In fact, several units, same number of bedrooms, same square footage,
Speaker 3: same view, all of it. It was very similar. Let's
Speaker 3: just say that I was paying three thousand dollars a
Speaker 3: month in rent, just as a hypothetical example, it would
Speaker 3: have cost me two point two times as much to
Speaker 3: own than it cost me to rent. So, in other words,
Speaker 3: it would have cost me over six thousand dollars a
Speaker 3: month to own that place when I factor in all
Speaker 3: the phantom costs, taxes, maintenance, interest, opportunity, cost of my
Speaker 3: down payment, all the things that people never consider. So
Speaker 3: you know what I did. I took the thirty four
Speaker 3: hundred dollars or so per month and I invested it,
Speaker 3: and I did that every month, and I made way
Speaker 3: more money renting than I would have owning. So the
Speaker 3: point is not that one of us is doing it
Speaker 3: right or wrong. That's not the point. Point is you
Speaker 3: got to run the numbers. This is the biggest purchase
Speaker 3: of your life. You can't spend more time deciding what
Speaker 3: appetizer you're gonna get on Friday Night than understanding a
Speaker 3: multi hundred thousand dollars purchase. You've got to run the numbers.
Speaker 1: I don't wonder why people I always thought that I
Speaker 1: was looking I recently got a condo, but purchased a condo,
Speaker 1: and I was thinking to myself. I remember I wanted
Speaker 1: to see it multiple times because I like, I wanted
Speaker 1: to bring some of my real estate investors by it.
Speaker 1: And I remember like after the third time, they were like, again,
Speaker 1: I'm like, you want me to spend all this money.
Speaker 1: I literally would try on a dress at Target more times.
Speaker 1: I just thought that was so bananaus to me, They're like, honestly,
Speaker 1: I mean, why do you need to see it again?
Speaker 2: I'm like, this is like.
Speaker 1: The most expensive purchase I've ever made, and I'm like
Speaker 1: I will literally sometimes be like, oh, I don't know
Speaker 1: if I really want that gene skirt or which pair
Speaker 1: of Jordan's do I really like? I will try on
Speaker 1: things over and over, and to me, it is really
Speaker 1: wild the way some people literally see a house one time,
Speaker 1: I'm going to put in an offer.
Speaker 3: I love ironing clothes. I love it. And when I
Speaker 3: am researching a new iron, which I do once every
Speaker 3: fifteen years, I will spend like days watching every YouTube review.
Speaker 3: I'm like going, I'm going, I'm literally going to the story.
Speaker 3: I don't go to that many stores, and I'm picking
Speaker 3: it up. Does it fit my hand correctly? How does it?
Speaker 3: How's the weight? Hmmm? Is it gonna get? And I'm
Speaker 3: spending that level of time on a one hundred and
Speaker 3: fifty dollars purchase? Okay, yeah, you better imagine if we're
Speaker 3: going talking about a million dollar plus purchase, that I'm
Speaker 3: going to be spending a lot of time. We all
Speaker 3: should we should know what an amortization table is. Nobody
Speaker 3: knows what that is. Most people go, oh, I'm building equity.
Speaker 3: I go have you ever looked at the amortization table?
Speaker 3: Have you ever realized that in the first roughly ten
Speaker 3: years of owning, you're primarily paying off interest? And when
Speaker 3: I post this on my social media, I actually show
Speaker 3: the chart. I showed a real example, real interest rates,
Speaker 3: real everything. And you know the reaction, People get mad
Speaker 3: at me. Why because in many ways it's religious. We
Speaker 3: don't want to think about the facts. We simply want
Speaker 3: to be reassured by father, government and father, mom and
Speaker 3: Pa telling us buying is the right decision. And I
Speaker 3: reject that. I reject the idea that we should only
Speaker 3: buy because everyone tells us it's good and they use
Speaker 3: these handy dandy phrases. No, you got to actually know
Speaker 3: the numbers, and it may turn out that buying is
Speaker 3: great for a lot of people. Buying is a great
Speaker 3: decision for a lot of people. Renting is a great decision.
Speaker 3: You decide, but you need to know your numbers.
Speaker 1: So what others? What are some other things that push
Speaker 1: people push back on that. You're like, I don't care
Speaker 1: the numbers say this. It's like men lie, women lie.
Speaker 1: Numbers don't. What are some other that's the biggest one
Speaker 1: that I've seen people push back on you for.
Speaker 3: What else? What else do you notice?
Speaker 1: Well, it's hard because most of like, there isn't anything
Speaker 1: that I push back. I mean, the home one, I'm
Speaker 1: always just like it just really depends. But I mean
Speaker 1: people push back on me about like whole life insurance.
Speaker 1: You know, I get that, you know about like you know,
Speaker 1: and I'm just like, numbers don't make any.
Speaker 3: Wait, whole life insurance is shit. Who pushes back on you? Oh,
Speaker 3: whole life insurance salesman? Oh like I care these guys?
Speaker 3: Oh okay, I'll tell you. First of all, you should
Speaker 3: trust a whole life insurance salesperson as far as you
Speaker 3: can throw them. There's a zero reason. And you know
Speaker 3: the only reason that people go whole life insurance is
Speaker 3: great if you're really wealthy. I go, I have a
Speaker 3: lot of money, and it's not even good for me.
Speaker 3: So please give me a break, whole life insurance. Avoid that?
Speaker 2: All right? Wait for me, hold that thought.
Speaker 1: We have to go, Pennyson bills, take a break.
Speaker 2: We'll be back and brown as usual. And we're back.
Speaker 2: So what were you saying with me?
Speaker 3: One big pushback that I get is when I advise
Speaker 3: avoiding one percent fees to a financial advisor. So I
Speaker 3: shared this on my Netflix show. I had a guest Natalie,
Speaker 3: who had a multimillion dollar portfolio and she was paying
Speaker 3: one plus percent to a financial advisor. And you know
Speaker 3: who gets really mad at me when I say this
Speaker 3: financial advice? They get really mad. But let me tell
Speaker 3: you why, because I think there is some nuance to it.
Speaker 3: First off, I believe that most people can manage their
Speaker 3: own money. Most people have quite simple financial situations, and
Speaker 3: there are very simple, amazing investments like target date funds
Speaker 3: that are phenomenal and simple and low cost. You set
Speaker 3: it up once and you automate it. You never have
Speaker 3: to think about it again, and you can become quite
Speaker 3: wealthy from things like a target date fund. Now, once
Speaker 3: in a while, people do have complicated financial situations. They
Speaker 3: might have step children, they might have inheritance issues, whatever,
Speaker 3: and they want to get a second set of eyes.
Speaker 3: I don't mind it. I myself have hired a financial advisor.
Speaker 3: In my case, I hired one because I wanted them
Speaker 3: to look at my asset allocation and tell me if
Speaker 3: am I missing anything? Do I have any blind spots?
Speaker 3: So I don't mind if you hire a financial advisor.
Speaker 3: I don't even mind if you pay a premium rate
Speaker 3: two hundred an hour, five hundred an hour, one thousand
Speaker 3: an hour. If you like them in they're qualified, pay it,
Speaker 3: but never a percentage. Yes, So what most people don't understand.
Speaker 3: If you have a financial advisor and you're watching or
Speaker 3: listening to this, go ahead and text your advisor, email
Speaker 3: them and say hey, I just want to know. Can
Speaker 3: you send me the fee schedule? What that means is
Speaker 3: how am I paying you? If you went to a restaurant,
Speaker 3: of course, you know how you're paying. You're paying with
Speaker 3: your credit card. You know how you're getting charged. It's
Speaker 3: you know, twenty bucks for an entree or whatever. And
Speaker 3: that's that. What if you found out that the person
Speaker 3: mowing your lawn is charging you a percentage of your
Speaker 3: net worth or a percentage of your investable assets, that
Speaker 3: would be crazy. So how is it that it's okay
Speaker 3: for the financial advising industry to do so? And let
Speaker 3: me also share another shocking fact. One percent doesn't sound
Speaker 3: like a lot. Oh one percent, somebody can look over
Speaker 3: my investments and keep an eye on it. One percent
Speaker 3: means that, over the course of your lifetime, you will
Speaker 3: spend about twenty eight percent of your returns in fees.
Speaker 3: That's shocking. That's hundreds of thousands of dollars. We have
Speaker 3: so many people preoccupied with a three dollars latte. Oh,
Speaker 3: I shouldn't get dessert, the cheesecake. I know I'm being good.
Speaker 3: I shouldn't be good this week. Meanwhile, you're being bled
Speaker 3: dry for hundreds of thousands of dollars and you don't
Speaker 3: even realize it. I don't find that acceptable. Now, if
Speaker 3: you want to pay five hundred bucks an hour, or
Speaker 3: you want to spend five thousand dollars on a project
Speaker 3: based fee, I'm all for it. In fact, I would
Speaker 3: do that. I have a person who works for me
Speaker 3: and they offered me two options. Do I want to
Speaker 3: pay a high hourly rate or do I want to
Speaker 3: pay a percentage of the deal. I said, I'll pay
Speaker 3: the hourly rate every day, every day. So I want
Speaker 3: to encourage you to find out if you are paying.
Speaker 3: If you have a financial advisor, how are you paying?
Speaker 3: It's often one percent and you can tell because they
Speaker 3: won't give a straight answer. And I don't want people
Speaker 3: to be paying AUM or Assets under management fees. I
Speaker 3: want you to be either managing your money yourself, or
Speaker 3: if you're paying a great advisor, pay him hourly or
Speaker 3: per project. That gets a lot of pushback, but I'm right.
Speaker 1: No, And I mean that's why I didn't push back
Speaker 1: on that, because I have an Angelie. Shout out to you, ANGELI,
Speaker 1: she's amazing, she's my financial advisor, and I pay out
Speaker 1: of pocket. That was one of the things I don't
Speaker 1: even know that. I never even asked if she offered
Speaker 1: like assets under management. But I think I made it
Speaker 1: very clear in the beginning we're not doing that, so
Speaker 1: it never really came up.
Speaker 2: I just said, you know, what's the you know, and
Speaker 2: am I gonna lie?
Speaker 1: In the beginning just like you, I was like, Ohn
Speaker 1: is a financial advisor. It's not that serious. Most things
Speaker 1: are set it and forget it. But I just got
Speaker 1: stuck in a space where I'm like, I'm really good
Speaker 1: at making money, but I didn't really know, like what
Speaker 1: do I do now that it's building and building and building,
Speaker 1: you know. I wanted to understand, like what, where's the
Speaker 1: best place to place my assets in a way so
Speaker 1: I wouldn't have to work by the time I was
Speaker 1: a certain age and so Angelie was pivotal for me,
Speaker 1: and so I'm really grateful that I hired her, maybe
Speaker 1: I want to say, like four years ago, especially after
Speaker 1: my husband suddenly passed away. I don't know what I
Speaker 1: would have done without Angelie because she knew where everything was,
Speaker 1: you know, Like he had a pension, which is very
Speaker 1: rare because he worked for the City of Newark, and
Speaker 1: so the paperwork for the pension is like you, it
Speaker 1: doesn't even make sense. It's Latin, but somehow she speaks Latin,
Speaker 1: so she knew, like even before they knew. She's like, no,
Speaker 1: you are supposed to get this. This is supposed to
Speaker 1: go for your stepdaughter. This is supposed to you know,
Speaker 1: And so she just was. So it changed my tune
Speaker 1: about financial advisors because I was reluctant even to hire
Speaker 1: her because I just felt like, you're paying someone to
Speaker 1: do something you could probably do yourself. But you know,
Speaker 1: and I still think the average person, to real Meat's point,
Speaker 1: doesn't necessarily need one, or if you do, start with
Speaker 1: an hourly and just so you someone could look over
Speaker 1: your things and you could say, oh, thanks for that information.
Speaker 1: So Angelie doesn't just look at my personal finance. I've
Speaker 1: also hired her to look at my you know, business things.
Speaker 1: She's kind of like a last set of eyes because
Speaker 1: she's a CPA as well, and so it allows me
Speaker 1: to use it as a business expense, so I don't
Speaker 1: even have to pay out a pocket for her, which
Speaker 1: is great. But yeah, so that wasn't to me like
Speaker 1: a I mean, I guess maybe financial advisors would be
Speaker 1: mad but I'm trying to think anything else. I see
Speaker 1: people because for me be on Twitter on fire, Okay,
Speaker 1: he does not care. I love that because I am
Speaker 1: somebody who.
Speaker 3: Can say I am. I am pretty good at Twitter,
Speaker 3: you are. I keep waiting for one day when there's
Speaker 3: going to be an actually intelligent troll that comes after me.
Speaker 3: I've been on it for about fifteen years, and I'm
Speaker 3: like anybody out here, I'm waiting. You know what. I'll
Speaker 3: tell you this though, because you know, the Internet rule
Speaker 3: is like, don't respond to trolls, and I respond to
Speaker 3: like every single one. But I'll tell you because it
Speaker 3: keeps me sharp. I do like to hear the other perspective,
Speaker 3: and it's true, Hey, maybe there are things I haven't considered.
Speaker 3: Maybe there are elements of an argument that I haven't considered,
Speaker 3: so I do want to hear that. What unfortunately turns
Speaker 3: out to be the case is I just typically hear
Speaker 3: from right wing anti vaxxers who think they're smart but
Speaker 3: have never actually, you know, looked at a number or
Speaker 3: a piece of data. So it becomes less interesting, although
Speaker 3: quite entertaining.
Speaker 2: Well, let's switch over. Let's talk about your your your
Speaker 2: Netflix show. So when it came out.
Speaker 1: I was like, amazing because i'd heard buzz through the
Speaker 1: through the through the grape vine, you know, because when
Speaker 1: Noe's doing the documentary.
Speaker 3: And congratulations for that. By the way, I saw that,
Speaker 3: you know, I reached out to you. I said, wow,
Speaker 3: that was so cool. I was really happy for you. Yeah,
Speaker 3: thank you.
Speaker 2: No, it was a lot of fun.
Speaker 3: I didn't think.
Speaker 2: I don't know.
Speaker 1: I wasn't sure if I want to tape something, just
Speaker 1: because I was nervous.
Speaker 2: Like, am I going to enjoy it? Is it going
Speaker 2: to feel like too taxing?
Speaker 1: On top of because you have a business too, you know,
Speaker 1: you're already busy.
Speaker 2: So I was nervous and it wasn't just me.
Speaker 1: Obviously there was three other amazing financial educators, so it
Speaker 1: didn't feel super overwhelming. I want to say it was
Speaker 1: about a year and a half of taping. So how
Speaker 1: did it come about? Was it something that they hit
Speaker 1: you up? I mean, obviously I know it's like years
Speaker 1: in the making typically, and i'd heard through the grapevine
Speaker 1: that there was something that Netflix was coming up with,
Speaker 1: which I'm so glad. You know that they put their
Speaker 1: foot out there to say people want to see financial education,
Speaker 1: like on you know, on this bigger scale.
Speaker 2: So how did that come about? That that show?
Speaker 3: Netflix emailed me? Okay, and I still remember where I was.
Speaker 3: I still remember the email, and they reached out and said, hey,
Speaker 3: we'd love to set up a meeting and discuss, you know,
Speaker 3: some possibilities. Do you have representation or should we communicate directly?
Speaker 3: And I remember going like, what's representation? I was not
Speaker 3: mister Hollywood. I'm an internet guy, right, That's why I'm
Speaker 3: good at Twitter. I know email, like, I've been on
Speaker 3: the Internet for a long time, but I don't know
Speaker 3: anything about Hollywood, especially at the point where this email
Speaker 3: came in, so I actually didn't even believe it was
Speaker 3: from them. I went up to the from line and
Speaker 3: I clicked it so it would expand and said at
Speaker 3: Netflix dot com. And I was shocked because often the
Speaker 3: emails come from ambulance chasers and production companies and other folks,
Speaker 3: but this was directly from the network. So I took
Speaker 3: it downstairs. I took my phone. I showed my wife
Speaker 3: and I was like, what do you like? I don't
Speaker 3: even know what to say. And she's awesome because she said,
Speaker 3: what do you think? And she just let me talk,
Speaker 3: and I kind of talked out loud, okay, And here's
Speaker 3: what I was feeling at the time. I was feeling
Speaker 3: number one, really surprised. I never ever planned to be
Speaker 3: a TV guy. Never. I never woke up saying I
Speaker 3: want to be famous or I want to be on TV.
Speaker 3: I just I like helping people live a rich life.
Speaker 3: I like telling jokes online. I like my readers and
Speaker 3: my students. I love them, and I love my team.
Speaker 3: That's what I know. But I also know that I've
Speaker 3: been doing this for twenty years and I know my
Speaker 3: business pretty well. So at this point, it was it
Speaker 3: made me nervous to even contemplate doing something where I
Speaker 3: would lose some control, because once you do a show,
Speaker 3: it's out of your control, you know. But at the
Speaker 3: same time, it was like, Wow, I could take my
Speaker 3: message to a massive audience. You know. I look around
Speaker 3: on the street, whether I'm in La, New York wherever,
Speaker 3: and most people don't know the concept of a rich life.
Speaker 3: They don't know how I talk about it, and I
Speaker 3: think they should. And so I said, all right, at
Speaker 3: least I'm gonna take the call. I'm gonna take the call,
Speaker 3: and I got on a call with them, and they
Speaker 3: were very pleasant, they were very flattering. They're like, we
Speaker 3: know your work. You know, we read your book in
Speaker 3: the office. In fact, we hand it around. And I
Speaker 3: was like, let me stop you right there. Whatever deal
Speaker 3: we were going to do, the price just quadrupled. And
Speaker 3: they were laughing. But in my head, I was like,
Speaker 3: but I'm not kidding. So you know what, I realized
Speaker 3: the whole time, the whole time, starting from that call
Speaker 3: through even right now, I said, if I'm gonna do this,
Speaker 3: I'm gonna have funk. And if I'm having fun, everybody
Speaker 3: else is having fun. And that's my motto. Now I'm
Speaker 3: forty years old, I'm gonna have fun doing big projects.
Speaker 3: And you know that shows. It shows when I'm on
Speaker 3: screen because I'm actually having fun with my guests, even
Speaker 3: when they're you know, being a little nutty, I'm having
Speaker 3: fun and then they're having fun. And that's that's where
Speaker 3: I think that I want to go, you know, with
Speaker 3: the work that I do.
Speaker 2: So how many how long was the taping? Was it
Speaker 2: like a year and a half, two years?
Speaker 3: It took okay, so it took a while for us
Speaker 3: to solidify the deal, and I was loving it because
Speaker 3: I was like, take as much time as you need,
Speaker 3: more time for me to get in shape, more time
Speaker 3: for me to fix my website. I was like, yeah, no, rush, no, rush.
Speaker 3: I was taking two three days to respond to emails.
Speaker 3: I was like, no, let's slow it down. And so
Speaker 3: we find So we finally we finally got a date
Speaker 3: we're gonna start shooting. My wife is a personal stylist,
Speaker 3: so she agreed to help style me for the entire show.
Speaker 3: And I remember going in. I was getting some pants made.
Speaker 3: I really love clothes, by the way, so I love
Speaker 3: spending money on clothes. I have a few things I
Speaker 3: call money dials, the things where I really love spending
Speaker 3: and turning that dial up. We all have money dials.
Speaker 3: One of mine is clothes. So I went in to
Speaker 3: get these pants made and I was They're like, okay,
Speaker 3: let's measure you. I'm like, listen, I'm gonna drop this
Speaker 3: much weight before the shooting, so I need you to
Speaker 3: alter the like make sure that you adjust. And they
Speaker 3: looked at me like like kind of like pity. They're like,
Speaker 3: this guy's so delusionable. Oh my gosh, he really thinks
Speaker 3: he's gonna lose, Like and I was like, listen, just
Speaker 3: make the pants away. I'm saying, Okay, I know exactly
Speaker 3: what I'm gonna do because I'm a professional. I've done
Speaker 3: this before. I know what it takes. I have a trainer.
Speaker 3: So I came back in a few months later. They
Speaker 3: had made the pants as I quested, and just to
Speaker 3: mess with them, I went in the fitting room and
Speaker 3: then I was like, oh my god, it doesn't fit
Speaker 3: at all, and everyone there's like eight people tailors, all
Speaker 3: these people from Italy, just to mess with them, and
Speaker 3: then I came out and it fit perfectly, So again
Speaker 3: I'm having fun. In terms of shooting, we shot principal
Speaker 3: shooting for about four months. That was all around the country. Yeah,
Speaker 3: all around the country, fourteen hour days, very busy, very intense.
Speaker 3: I've never worked as intensely as on that. It was
Speaker 3: actually really fun, very exhilarating. And then we did about
Speaker 3: five months in post and then it was ready to go.
Speaker 2: Is it has your life like exploded? Because I saw
Speaker 2: your book.
Speaker 1: Was like number one on Amazon, which just for contact y'all.
Speaker 1: At any given moment, there's like a million plus books
Speaker 1: being sold in Amazon, like.
Speaker 3: Well, Cynthy as far as I'm concerned. There's only two
Speaker 3: books yours and mine on Amazon. They're the only ones
Speaker 3: that matter.
Speaker 1: But I was like, because I'm like a stalker of
Speaker 1: like sessful people. So I'm always like, you know, just
Speaker 1: low key, I just be checking people's numbers. They don't
Speaker 1: even know me. I'm like, I do because I want to.
Speaker 2: Know, Like, what's what's tea?
Speaker 1: I'm like, huh interesting if it was and then islow,
Speaker 1: I'm always slightly judging.
Speaker 2: Oof it was me, I would have done.
Speaker 1: That, Like I was like, or I'm like, really, like,
Speaker 1: to me, my biggest pet peeve. If somebody has a book,
Speaker 1: let's just say it's called you know, I Walk the Dog,
Speaker 1: you know, and like you you're telling the people buy
Speaker 1: my book everywhere books are sold. I'm like, you mean,
Speaker 1: why don't you own I walkd thedog dot com or
Speaker 1: I walk thedogbook dot com. I mean, for the love
Speaker 1: of God, make it easy for me to find it.
Speaker 1: And so like, I just love to see when someone
Speaker 1: took to your point. I don't know how many people
Speaker 1: would have had this thing happen and not had anything
Speaker 1: ready or I was ready when And that was just
Speaker 1: a part.
Speaker 2: Of a documentary. I mean, like we updated the side.
Speaker 1: I captured so many emails, so many because you're like
Speaker 1: you're like you're an online person saying and so like
Speaker 1: how I mean I saw for my own self how
Speaker 1: your journal like sold out everywhere, how your book just
Speaker 1: explode did but like what other kind of like I'm
Speaker 1: sure those are things you expected, anything unexpected where you
Speaker 1: were like whoa, like will you walk.
Speaker 2: Down the street now?
Speaker 1: Like were you like, hey, is that remat before? And
Speaker 1: they're like it's definitely remat now.
Speaker 3: Yeah. I think a lot of things change in a
Speaker 3: really positive way. I'm very thankful for it. So my
Speaker 3: podcast called I Will Teach You to Be Rich that
Speaker 3: went to number five on all of Apple and what. Yeah,
Speaker 3: that was like shocking and it's just attracted so many people,
Speaker 3: which is amazing. Of course, you know, we had the
Speaker 3: stuff that we expected, lots of people come to the website,
Speaker 3: lots of people following us on social, joining our email newsletter.
Speaker 3: I love all that. I think the podcast was really surprising.
Speaker 3: And I'll tell you something else. You know, I've I
Speaker 3: lived in Europe for a long time, so people would
Speaker 3: recognize me if I was out on a Saturday I
Speaker 3: would definitely get recognized a few times. That number has exploded,
Speaker 3: so a lot of people coming up, but also the
Speaker 3: type of people coming up to me incredibly diverse. Incredibly
Speaker 3: I'm walking in the Lower east Side, I'm getting people
Speaker 3: coming up to me. I'm walking on the Upper east Side,
Speaker 3: Upper West I'm getting different types of people coming up
Speaker 3: to me, people that I did not get coming up before.
Speaker 3: There's some people who are just never going to follow
Speaker 3: a newsletter or social media about money, but they'll watch
Speaker 3: it on How to Get Rich on Netflix, and so
Speaker 3: I'm thankful for that. And they're always They're always really nice,
Speaker 3: they have the best stories, they're super thankful. They'll say
Speaker 3: like one it's like comical because I'll be walking with
Speaker 3: my wife and someone will be like thank you, and
Speaker 3: I'm like, that's like pretty dramatic, like all right, thank you.
Speaker 3: But it reminds me because I don't go up to celebrities.
Speaker 3: If I see anyone who I think is a celebrity,
Speaker 3: I'm like, oh, what am I gonna say? I don't
Speaker 3: want to be a door, so I just walk right
Speaker 3: past him. And on the only celebrity I ever went
Speaker 3: up to was this guy Marcus Lamonis. He's on CNBC
Speaker 3: The Prophet and I like him a lot. And I
Speaker 3: saw him this at this burger place that I went
Speaker 3: to and I was like, oh my god, it's Marcus Lamonas.
Speaker 3: And my wife's like, you got to go take a
Speaker 3: picture with him. I'm like, no, I can't.
Speaker 2: I can't.
Speaker 3: And he was in a place like it was a
Speaker 3: public place. He was meant to be greeted. He was
Speaker 3: promoting one of his businesses. So I went up to
Speaker 3: him and I was sweating, and I was like, Marcus,
Speaker 3: I'm such a fan. I watch your show every week,
Speaker 3: and then I can I get a photo? And I
Speaker 3: did exactly what other people do, so you know what,
Speaker 3: I turned into like a blubbering idiot. And that's why
Speaker 3: I have so much respect for anyone who comes up yes,
Speaker 3: because I'm like, that takes a lot of courage. I
Speaker 3: don't have that courage. So anyway, thanks to everyone who
Speaker 3: watches and listens and follows.
Speaker 2: I love that.
Speaker 1: Honestly, that's probably my favorite thing because I'm at people person,
Speaker 1: so I love that people come up there. I mean,
Speaker 1: my audience is largely black women, and they're just like
Speaker 1: the bat because.
Speaker 2: They're like, girl, I love you. Girl, I'm like love
Speaker 2: you too, and so they're so supportive.
Speaker 1: So every once in a while, though it won't be
Speaker 1: like it'll be a white guy that comes up to me,
Speaker 1: and I'm always shocked.
Speaker 3: Like, what, that's cool, But how did you find me?
Speaker 2: Timothy? Is your wife?
Speaker 3: Black Timothy goes I listened to Brown Ambition and you'd
Speaker 3: be surprised.
Speaker 2: I honestly.
Speaker 1: So that's been happening more and more like which is
Speaker 1: so crazy, because I mean, I always I don't turn
Speaker 1: anyone away, you know, but I started this work specifically
Speaker 1: because I'm like, there's a gap here and I needed this,
Speaker 1: and so yeah, no, I think that is definitely my
Speaker 1: favorite part. It's just like knowing that your work is
Speaker 1: getting out there and people who likely would not normally
Speaker 1: be touched and moved by it get moved and touched
Speaker 1: by So I love that.
Speaker 3: I love that, and I also I also love the representation.
Speaker 3: Like when I was in Vegas recently and there was
Speaker 3: an Indian family that came up to me and I
Speaker 3: just loved it because they there were two parents and
Speaker 3: they had their son and daughter. And when I grew up,
Speaker 3: when I was a kid, there were no Indian superheroes
Speaker 3: that I knew of superhero was like Clark Kent, white
Speaker 3: guy with big muscles, and I didn't see anyone who
Speaker 3: looked like me. And you know, we know what representation
Speaker 3: is and why it matters, but as a kid, you
Speaker 3: don't realize. You just internalize, like, oh, it's big white
Speaker 3: guys that have muscles. But me, I do spelling bees. Okay,
Speaker 3: And I did spelling bees and I dominated and that
Speaker 3: was great. But it wasn't until my twenties where I
Speaker 3: finally realized if I want to change my body, I can't.
Speaker 3: And I can learn how to eat differently and work
Speaker 3: out differently, and I can get help from friends and
Speaker 3: trainers and stuff like that. So I think it's cool.
Speaker 3: I love seeing this Indian family come up and say
Speaker 3: hello and take a picture because their kids, who were
Speaker 3: probably twelve, see a guy they go this, this Indian
Speaker 3: guy's on TV. He looks like me, you know, he
Speaker 3: Maybe I can do that. Maybe the possibilities are bigger
Speaker 3: than what I had realized for myself. So to me,
Speaker 3: that's like a very very meaningful part of doing what
Speaker 3: I do.
Speaker 2: I just think too, I think because I'm sure you're
Speaker 2: you know, I know that.
Speaker 1: The parenting in the Indian household is very similar to
Speaker 1: parenting in the African household, which is you have a
Speaker 1: few professions. You can do doctor, lawyer, engineer, pharmacist or
Speaker 1: drug dealer. Because that's my dad thought. He was like
Speaker 1: anything else, you're clearly dealing drugs. I'm like, but I'm
Speaker 1: a teacher. He was like, drugs, drugs a disappointment.
Speaker 3: I'm like, what amazing?
Speaker 1: But now I'm one of five girls.
Speaker 2: And Lisa's the baby, although not a baby, she's in
Speaker 2: her early thirties.
Speaker 1: My mom was telling her the other day because Lisa
Speaker 1: is a typical baby, like, oh, this job.
Speaker 2: This job.
Speaker 1: And my mom was like, listen, why don't you so
Speaker 1: my African name is Aduci. Why don't you do like
Speaker 1: aduci and started business. I was like, who are you
Speaker 1: a woman?
Speaker 2: Yeah?
Speaker 1: Because that, I mean, the fact that that's even on
Speaker 1: the table now, I mean, you know, like I just
Speaker 1: couldn't believe. So I love that there are you know,
Speaker 1: Indian kids that are going to be able to point
Speaker 1: to you to say I actually don't have to be
Speaker 1: a doctor. Mom, Dad like, look a re meat, Like
Speaker 1: there is success in other areas, and we understand why
Speaker 1: our parents did that because they know it's not easy
Speaker 1: being broad in this country. There are certain professions that
Speaker 1: can that can provide like safety for you or like
Speaker 1: you know, professional success for you. But you get to
Speaker 1: widen that scope and they can say there's wild success,
Speaker 1: you know in other areas.
Speaker 2: So I love that.
Speaker 1: So, yeah, really, thank you so much for coming on.
Speaker 1: You're awesome sauces. Where can the people find you? Can
Speaker 1: you share like your your Netflix again, your book again,
Speaker 1: and anything else you want to share.
Speaker 3: Yeah, So if you are listening to this, you you
Speaker 3: might also like my podcast where I bring couples on
Speaker 3: and you can actually see them. You can see their
Speaker 3: faces on YouTube, and I insist that they share all
Speaker 3: of their numbers. So you hear a couple with eight
Speaker 3: hundred thousand dollars of debt, they're concerned they can't afford
Speaker 3: to have children. You hear another couple where twenty one
Speaker 3: years marriage, she's about to divorce him because he's too cheap.
Speaker 3: They're net worth thirteen million dollars. Yeah, you get to
Speaker 3: actually listen in on couples with all over all of
Speaker 3: the socioeconomic spectrum, all different kinds talking about real money issues.
Speaker 3: That's called I Will Teach You to Be Rich. My
Speaker 3: book I Will Teach You to Be Rich. You can
Speaker 3: find that on Amazon, you can find it at any
Speaker 3: bookstore including Barnes and Noble. And then of course the
Speaker 3: show How to Get Rich that's on Netflix and you
Speaker 3: can stream that anywhere in the world.
Speaker 1: So we had an awesome show, But stick around, guys,
Speaker 1: listen to the next show that will come out on Friday,
Speaker 1: because Meat's gonna stay and do some ba q a.
Speaker 1: All right until next week, y'all.
Speaker 2: Bye, hey, ba fam.
Speaker 1: We could not do this show without your support or
Speaker 1: the support of our team behind the scenes.
Speaker 3: The Brown Ambition Podcast is produced by Imani Crosby and
Speaker 3: Dennis Stanplinsky is our in house tech guru.
Speaker 2: I am your co host Mandy Woodrif Santos, and we
Speaker 2: will see y'all next week, ba Fam.