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