1 00:00:00,280 --> 00:00:07,320 Speaker 1: A record breaking year for life insurance payouts. One hundred 2 00:00:07,520 --> 00:00:12,320 Speaker 1: billion dollars was paid out in twenty twenty one from 3 00:00:12,560 --> 00:00:18,360 Speaker 1: life insurance companies to beneficiaries. So that is actually an 4 00:00:18,400 --> 00:00:22,960 Speaker 1: eleven percent jump from twenty twenty, which represented the largest 5 00:00:23,120 --> 00:00:31,320 Speaker 1: year over year increase fifteen percent since nineteen eighteen influenza pandemic. 6 00:00:34,680 --> 00:00:41,280 Speaker 2: So that's crazy. So all right, life insurance. 7 00:00:41,600 --> 00:00:45,000 Speaker 1: Yeah, whenever I have a financial planning call for Eyo University, 8 00:00:45,000 --> 00:00:48,040 Speaker 1: I always get the most questions about life insurance. Is 9 00:00:48,080 --> 00:00:51,440 Speaker 1: an ongoing thing, like every single time. So it's never 10 00:00:51,479 --> 00:00:53,440 Speaker 1: a bad time to talk about life insurance because I 11 00:00:53,479 --> 00:00:55,880 Speaker 1: realized that so many people still have so much questions 12 00:00:55,920 --> 00:00:56,800 Speaker 1: about life insurance. 13 00:00:56,880 --> 00:01:00,639 Speaker 2: But I want to talk about it, but I want I. 14 00:01:00,560 --> 00:01:02,680 Speaker 1: Want to get you guys opinion on it before before 15 00:01:02,680 --> 00:01:03,600 Speaker 1: I stopped talking about it. 16 00:01:03,600 --> 00:01:06,000 Speaker 2: So, all right, one hundred billion dollars. 17 00:01:05,840 --> 00:01:10,920 Speaker 1: Was paid out last year from life insurance companies to beneficiary. 18 00:01:10,959 --> 00:01:12,880 Speaker 2: So what's your initial thoughts on that. 19 00:01:13,880 --> 00:01:16,680 Speaker 3: I'm a little conflicted, to be honest with you, right 20 00:01:16,800 --> 00:01:20,040 Speaker 3: to be for a couple of reasons. The first reason 21 00:01:20,120 --> 00:01:22,040 Speaker 3: is that if it's paid out, that means people actually 22 00:01:22,120 --> 00:01:26,199 Speaker 3: had it, and I'm telling you. When we sat down 23 00:01:26,400 --> 00:01:29,679 Speaker 3: fifteen twenty years ago and we were talking about life insurance, 24 00:01:29,760 --> 00:01:32,480 Speaker 3: it was not even a topic in our community, Like 25 00:01:32,600 --> 00:01:35,800 Speaker 3: nobody was even interested in hearing about it. Now, out 26 00:01:35,800 --> 00:01:37,880 Speaker 3: of that one hundred billion, I'd be interested to see 27 00:01:37,959 --> 00:01:40,600 Speaker 3: how much it was paid out for communities that look 28 00:01:40,720 --> 00:01:43,319 Speaker 3: like US. That is a statistic I would like to see. 29 00:01:43,319 --> 00:01:49,080 Speaker 3: But I don't know is it encouraging? I'm torn, I'm 30 00:01:49,120 --> 00:01:50,280 Speaker 3: honestly just torn about it. 31 00:01:50,360 --> 00:01:51,600 Speaker 2: But why are you torn? 32 00:01:52,200 --> 00:01:52,320 Speaker 4: Well? 33 00:01:52,480 --> 00:01:56,280 Speaker 3: Because if it we know that that that's a form 34 00:01:56,320 --> 00:02:01,200 Speaker 3: of a way to generational wealth right for our communities. 35 00:02:01,400 --> 00:02:03,200 Speaker 3: That hasn't been nobody, but we know that it is 36 00:02:03,240 --> 00:02:05,640 Speaker 3: now And obviously what you're doing and everybody is doing 37 00:02:05,960 --> 00:02:09,280 Speaker 3: in the financial literacy movement talking about it and showing 38 00:02:09,280 --> 00:02:11,320 Speaker 3: how it can be a builder black for generations out 39 00:02:11,320 --> 00:02:14,960 Speaker 3: of here, outside of US, one hundred billion is obviously 40 00:02:15,040 --> 00:02:18,120 Speaker 3: a huge amount. I'm just saying, how much of us 41 00:02:18,160 --> 00:02:19,600 Speaker 3: are represented in those numbers? 42 00:02:20,320 --> 00:02:20,519 Speaker 2: Right? 43 00:02:20,560 --> 00:02:22,799 Speaker 3: So, like, yeah, it's great that people are aware that 44 00:02:22,840 --> 00:02:24,360 Speaker 3: life insurance can be a building block. 45 00:02:24,840 --> 00:02:28,560 Speaker 5: Are we aware are we represented inside that billion? 46 00:02:30,360 --> 00:02:31,359 Speaker 2: That's a big question. 47 00:02:33,000 --> 00:02:35,560 Speaker 5: Yeah, I mean that's what I'm saying. I'm trying. I don't. 48 00:02:35,680 --> 00:02:36,880 Speaker 5: I'm conflicted on it. I don't know. 49 00:02:41,000 --> 00:02:44,640 Speaker 4: To be honest, I haven't done enough research on this topic. 50 00:02:45,200 --> 00:02:47,760 Speaker 4: So I think it would be a disservice to the audience, 51 00:02:48,000 --> 00:02:52,040 Speaker 4: myself and this amazing show to give commentary that is 52 00:02:52,240 --> 00:02:56,240 Speaker 4: not based on fact or research. I know some people 53 00:02:56,240 --> 00:03:01,040 Speaker 4: think I just rant because you know, I like attention this. 54 00:03:01,040 --> 00:03:04,240 Speaker 4: This is backed by God and the work that I 55 00:03:04,280 --> 00:03:08,160 Speaker 4: put in, so I don't betray your point is really interesting. 56 00:03:08,200 --> 00:03:11,280 Speaker 4: I wonder how much of those payouts or disperse us, 57 00:03:11,400 --> 00:03:15,000 Speaker 4: Especially from the conversation that we had with Don People's 58 00:03:15,080 --> 00:03:18,880 Speaker 4: last night, I would estimate probably less. 59 00:03:18,639 --> 00:03:19,639 Speaker 5: Than fifteen percent. 60 00:03:19,720 --> 00:03:22,600 Speaker 4: But I do want to give a homework assignment for 61 00:03:22,760 --> 00:03:24,839 Speaker 4: the money that has been dispersed over the last five 62 00:03:24,919 --> 00:03:27,320 Speaker 4: years to the audience. How much of that goes to 63 00:03:27,440 --> 00:03:31,280 Speaker 4: black and brown families? And it's not because we're not applying, 64 00:03:31,320 --> 00:03:32,760 Speaker 4: because I know a lot of people will say, well, 65 00:03:33,080 --> 00:03:35,560 Speaker 4: if people apply to get it. I have personally went 66 00:03:35,600 --> 00:03:38,520 Speaker 4: to situations when family members have poured into a policy 67 00:03:39,040 --> 00:03:42,160 Speaker 4: for twenty and thirty years and did not get that 68 00:03:42,240 --> 00:03:46,280 Speaker 4: projected earnings a point supposed to get the death benefit. 69 00:03:46,320 --> 00:03:47,800 Speaker 4: But I think it would be a disservice to me 70 00:03:47,880 --> 00:03:49,360 Speaker 4: to speak for this one. 71 00:03:49,680 --> 00:03:51,480 Speaker 5: You said fifteen percent you think. 72 00:03:53,120 --> 00:03:53,440 Speaker 4: I mean that. 73 00:03:53,960 --> 00:03:54,760 Speaker 2: I'm just like that. 74 00:03:54,960 --> 00:03:56,800 Speaker 3: I mean, well, so the thing about it, that's a 75 00:03:56,920 --> 00:04:00,520 Speaker 3: high ceiling that that's what I said, so different really quickly, 76 00:04:00,520 --> 00:04:03,280 Speaker 3: because like, even even when we do have it, I 77 00:04:03,320 --> 00:04:06,160 Speaker 3: feel like, especially like if people have insurance to their life, 78 00:04:06,200 --> 00:04:10,000 Speaker 3: insurance to their job, the amount is like so low. Right, 79 00:04:10,040 --> 00:04:13,080 Speaker 3: Like even when I told people when I was twenty five, 80 00:04:13,120 --> 00:04:14,800 Speaker 3: like I have a million dollar policy, it was like 81 00:04:15,320 --> 00:04:17,240 Speaker 3: how did you do that? Like why would you do 82 00:04:17,320 --> 00:04:19,400 Speaker 3: so much? And I'm like, well, it's for the year 83 00:04:19,440 --> 00:04:22,320 Speaker 3: is the one I'm going. So the mindset wasn't even there. 84 00:04:22,440 --> 00:04:24,960 Speaker 3: But I mean this, this guy's the expert. Come on, 85 00:04:25,640 --> 00:04:27,279 Speaker 3: come on, go crazy. 86 00:04:27,320 --> 00:04:30,440 Speaker 1: I feel it well, I feel like, yeah, there's two 87 00:04:30,440 --> 00:04:35,520 Speaker 1: different conversations having happening. If we're taking advantage of it 88 00:04:35,600 --> 00:04:39,600 Speaker 1: or not, that's a conversation that we we don't know. 89 00:04:39,680 --> 00:04:40,799 Speaker 2: We'll have to see the numbers. 90 00:04:41,160 --> 00:04:44,640 Speaker 1: I would suspect that there has been an uptick, but 91 00:04:44,760 --> 00:04:47,880 Speaker 1: I would think that we're still under insured as a community. 92 00:04:47,960 --> 00:04:50,520 Speaker 1: I would I would think that we're still under insured. 93 00:04:50,839 --> 00:04:55,480 Speaker 1: Now that's one conversation. The other conversation is okay, one 94 00:04:55,520 --> 00:04:59,039 Speaker 1: hundred billion dollars is being paid out. We understand that 95 00:04:59,080 --> 00:05:02,840 Speaker 1: life insurance is one of the fastest and easiest ways 96 00:05:02,880 --> 00:05:06,280 Speaker 1: to grow generational wealth because you're pretty much paying for 97 00:05:06,839 --> 00:05:09,240 Speaker 1: money pinions on a dollar, right, Like, if you have 98 00:05:09,279 --> 00:05:11,599 Speaker 1: a life insurance policy, it's a million dollar policy. Let's 99 00:05:11,600 --> 00:05:15,159 Speaker 1: say you've paid one hundred thousand dollars of premium before 100 00:05:15,200 --> 00:05:18,000 Speaker 1: you die. Then you've purchased one million dollars for one 101 00:05:18,040 --> 00:05:21,800 Speaker 1: hundred thousand. That's a good deal in anybody's book, right, 102 00:05:23,640 --> 00:05:26,480 Speaker 1: But it's important to understand the life insurance that you're 103 00:05:26,520 --> 00:05:29,280 Speaker 1: actually getting and how the process works. So like even 104 00:05:29,320 --> 00:05:31,800 Speaker 1: when Ian was saying that you know a lot of people, 105 00:05:31,880 --> 00:05:33,920 Speaker 1: they might have paid into a policy for twenty years 106 00:05:34,000 --> 00:05:36,120 Speaker 1: or thirty years and then they don't actually get or 107 00:05:36,120 --> 00:05:39,640 Speaker 1: the policy you know, expires or explodes or different things 108 00:05:39,640 --> 00:05:43,840 Speaker 1: that they should because not all life insurance is created equal. 109 00:05:44,279 --> 00:05:47,080 Speaker 1: That's something that's extremely important to understand as well. So 110 00:05:47,720 --> 00:05:51,240 Speaker 1: when you're buying your life insurance policy, it's important to 111 00:05:51,279 --> 00:05:54,839 Speaker 1: be educated on what you're purchasing. It's just like anything else, 112 00:05:54,880 --> 00:05:56,679 Speaker 1: like if you're purchasing a home, or if you're purchasing 113 00:05:56,720 --> 00:05:59,719 Speaker 1: a car. Every car is not the same, every home 114 00:05:59,800 --> 00:06:02,120 Speaker 1: is the same. Right, you have to be educated on 115 00:06:02,160 --> 00:06:05,840 Speaker 1: what you're actually purchasing so you can have the most 116 00:06:05,839 --> 00:06:10,200 Speaker 1: efficient outcome when it comes to that. So briefly, because 117 00:06:10,240 --> 00:06:13,919 Speaker 1: I've talked about this a few times, but term insurance 118 00:06:14,680 --> 00:06:20,120 Speaker 1: very important to understand. That is the lowest costing insurance, 119 00:06:20,200 --> 00:06:23,680 Speaker 1: lowest premium. It lasts a term, you know, ten to fifteen, 120 00:06:23,800 --> 00:06:26,240 Speaker 1: twenty year term where you pay a premium, you have 121 00:06:26,279 --> 00:06:27,880 Speaker 1: a death benefit. Let's say you have a twenty year 122 00:06:27,960 --> 00:06:30,200 Speaker 1: term policy. Right, you pay a premium for twenty years, 123 00:06:30,480 --> 00:06:34,080 Speaker 1: and if you pass away before that twenty years is over, 124 00:06:34,520 --> 00:06:38,039 Speaker 1: then your beneficiary is to get money. Now, the problem 125 00:06:38,040 --> 00:06:41,000 Speaker 1: with term insurance is that I think like ninety seven 126 00:06:41,080 --> 00:06:43,800 Speaker 1: percent of term insurance policies don't actually end up getting 127 00:06:43,800 --> 00:06:47,920 Speaker 1: paid out because most people don't die within the term. 128 00:06:48,760 --> 00:06:52,000 Speaker 1: So to get insurance, you have to be approved for insurance, right, 129 00:06:52,480 --> 00:06:58,280 Speaker 1: and there's underwriters, so they're usually not going to approve 130 00:06:58,320 --> 00:07:01,000 Speaker 1: somebody that has a high probability of dying within a 131 00:07:01,040 --> 00:07:04,280 Speaker 1: twenty year term. So anybody can die at any point 132 00:07:04,279 --> 00:07:07,200 Speaker 1: in time, but you go by odds, right, and it's 133 00:07:07,279 --> 00:07:11,720 Speaker 1: mathematical statistics, so it's like the odds of somebody that's 134 00:07:11,760 --> 00:07:15,840 Speaker 1: twenty five and they're healthy dying in a twenty y eight 135 00:07:16,840 --> 00:07:20,920 Speaker 1: next twenty years is relatively low. So now you can 136 00:07:20,960 --> 00:07:24,120 Speaker 1: afford as an insurance company to give, you know, insurance 137 00:07:24,120 --> 00:07:25,960 Speaker 1: to a lot of different people, because you know only 138 00:07:26,000 --> 00:07:28,400 Speaker 1: a few people is actually gonna die and a few 139 00:07:28,440 --> 00:07:32,400 Speaker 1: people that do die. The other you know, ninety seven 140 00:07:32,400 --> 00:07:34,600 Speaker 1: percent of people that don't die, those premiums are going 141 00:07:34,640 --> 00:07:38,800 Speaker 1: to make up for that. But it's still beneficial because 142 00:07:39,160 --> 00:07:42,000 Speaker 1: some insurance is better than no insurance, and if you 143 00:07:42,440 --> 00:07:48,320 Speaker 1: don't have a budget for anything else, then term insurance 144 00:07:48,400 --> 00:07:51,560 Speaker 1: can be a good option. And then you have whole 145 00:07:51,600 --> 00:07:55,680 Speaker 1: life insurance, which lasts your whole life and it also 146 00:07:55,920 --> 00:07:59,360 Speaker 1: builds cash value. The cash is money that you can 147 00:07:59,400 --> 00:08:02,440 Speaker 1: actually use while you're alive. Now, a lot of people 148 00:08:03,160 --> 00:08:06,880 Speaker 1: have criticized whole life because they say that it's too 149 00:08:07,000 --> 00:08:13,560 Speaker 1: expensive and they don't want to mix investing with permanent insurance. 150 00:08:14,040 --> 00:08:16,880 Speaker 1: It's your own personal prerogative on that. There's pros and 151 00:08:16,920 --> 00:08:21,400 Speaker 1: cons for it, but the general idea of it is 152 00:08:21,400 --> 00:08:23,720 Speaker 1: that it lasts your whole life. But there is a 153 00:08:23,920 --> 00:08:29,240 Speaker 1: hybrid approach guaranteed protection universal life. We've talked about this 154 00:08:29,320 --> 00:08:33,319 Speaker 1: EIO University alone a lot where this is a pretty 155 00:08:33,400 --> 00:08:33,839 Speaker 1: much like a. 156 00:08:33,800 --> 00:08:35,240 Speaker 2: Lifelong term policy. 157 00:08:35,360 --> 00:08:38,480 Speaker 1: So you're paying premiums and as long as you pay 158 00:08:38,480 --> 00:08:41,600 Speaker 1: a premium, you have a death benefit. So that's extremely 159 00:08:41,640 --> 00:08:47,400 Speaker 1: beneficial because now if you don't want to mix investing 160 00:08:47,800 --> 00:08:53,359 Speaker 1: with insurance and you just want, you know, the clean cut, 161 00:08:53,880 --> 00:08:56,520 Speaker 1: just whatever I pay for I'm going to get, you know, 162 00:08:56,559 --> 00:09:00,200 Speaker 1: if I die, my family gets money, then that's that's 163 00:09:00,240 --> 00:09:03,560 Speaker 1: an option. And the premiums are less than whole life insurance, 164 00:09:03,600 --> 00:09:06,559 Speaker 1: but they're more in term, so you kind of get 165 00:09:06,800 --> 00:09:09,440 Speaker 1: in the middle ground for that. Now, where people come 166 00:09:09,480 --> 00:09:12,000 Speaker 1: into problems with their policy a lot of times where 167 00:09:12,040 --> 00:09:15,880 Speaker 1: they don't fully understand it is universal life policy, index 168 00:09:16,000 --> 00:09:20,800 Speaker 1: universal life policy, and variable universal life policy. This is 169 00:09:21,320 --> 00:09:24,640 Speaker 1: life insurance that's tied to the stock market. Now, this 170 00:09:25,080 --> 00:09:28,079 Speaker 1: is where it kind of becomes a little tricky because 171 00:09:28,120 --> 00:09:30,559 Speaker 1: there's a lot of variables that go into play. So 172 00:09:30,760 --> 00:09:33,959 Speaker 1: this is a hybrid type of insurance policy where you're 173 00:09:33,960 --> 00:09:38,240 Speaker 1: actually mixing insurance with investing. The problem with this is 174 00:09:38,240 --> 00:09:41,440 Speaker 1: that if you don't fully understand it, and in times 175 00:09:41,480 --> 00:09:44,720 Speaker 1: like even now when the stock market is down. Now, 176 00:09:45,000 --> 00:09:49,160 Speaker 1: that can draw all your cash value and negatively affect 177 00:09:49,240 --> 00:09:53,120 Speaker 1: your insurance policy. So this is something that you have 178 00:09:53,160 --> 00:09:55,440 Speaker 1: to be extremely educated on. If you're going to mix 179 00:09:55,480 --> 00:10:00,160 Speaker 1: the life insurance with investing, you have to know how 180 00:10:00,280 --> 00:10:03,320 Speaker 1: much money you're putting in. You really want to overfund 181 00:10:03,320 --> 00:10:05,800 Speaker 1: a policy in that scenario to make up for any 182 00:10:05,880 --> 00:10:07,920 Speaker 1: down years in the stock market, and you have to 183 00:10:07,920 --> 00:10:12,240 Speaker 1: be careful when you take money out. So, like I said, 184 00:10:12,240 --> 00:10:13,680 Speaker 1: I can go on for this for a long time, 185 00:10:13,720 --> 00:10:14,439 Speaker 1: but I. 186 00:10:14,480 --> 00:10:16,440 Speaker 4: Just wanted to choose cool questions for you. I'm going 187 00:10:16,480 --> 00:10:18,000 Speaker 4: to cut you off. I want you to finish project 188 00:10:18,040 --> 00:10:19,440 Speaker 4: before we go to the next one. I do have 189 00:10:19,440 --> 00:10:23,080 Speaker 4: two cool questions for you that I think you got. Yeah, 190 00:10:23,520 --> 00:10:25,400 Speaker 4: if you let's say a person is making one hundred 191 00:10:25,520 --> 00:10:29,240 Speaker 4: thousand dollars a year, what is the multiple that they 192 00:10:29,240 --> 00:10:32,960 Speaker 4: should have for the depth that if it won't pass? 193 00:10:33,880 --> 00:10:36,600 Speaker 1: So yeah, good question. And you know, of course it 194 00:10:36,640 --> 00:10:38,360 Speaker 1: goes by like if you have a family or house. 195 00:10:38,360 --> 00:10:40,000 Speaker 1: But rule of thumb is that you should always have 196 00:10:40,000 --> 00:10:42,640 Speaker 1: probably ten times your income. So if you're making one 197 00:10:42,679 --> 00:10:44,680 Speaker 1: hundred thousand dollars a year, you should have at least 198 00:10:44,679 --> 00:10:48,600 Speaker 1: a minimum of one million dollars life insurance policy. You 199 00:10:48,720 --> 00:10:50,480 Speaker 1: might need more, like I said, if you have kids, 200 00:10:50,480 --> 00:10:52,480 Speaker 1: if you have a mortgage, you might even need two 201 00:10:52,559 --> 00:10:54,839 Speaker 1: million or two point five million, But at the very 202 00:10:54,920 --> 00:10:59,240 Speaker 1: least you need ten times your your income. That's like, 203 00:10:59,320 --> 00:11:04,520 Speaker 1: you know, and that might seem like a lot, but 204 00:11:04,559 --> 00:11:06,199 Speaker 1: it's really not so if you think about it from 205 00:11:06,200 --> 00:11:09,280 Speaker 1: a standpoint of all, Right, let's take a million dollar policy, 206 00:11:09,360 --> 00:11:13,960 Speaker 1: right and let's say you're making Let's say you're even 207 00:11:14,000 --> 00:11:16,520 Speaker 1: making fifty thousand dollars a year, so we'll do twenty 208 00:11:16,559 --> 00:11:20,000 Speaker 1: times your incomefidence area. Let's say you're making fifty thousand 209 00:11:20,000 --> 00:11:24,560 Speaker 1: dollars a year, right now, you have a million dollar policy. 210 00:11:25,000 --> 00:11:30,920 Speaker 1: So what happens is that when you die, your beneficiaries 211 00:11:30,960 --> 00:11:33,160 Speaker 1: have an option. Usually, and this is why it's important 212 00:11:33,160 --> 00:11:36,360 Speaker 1: to education your beneficiaries as well. But your beneficiaries usually 213 00:11:36,360 --> 00:11:38,400 Speaker 1: have an option where they can take a lump sum, 214 00:11:39,040 --> 00:11:42,679 Speaker 1: or they can take it's kind of like a checkbook 215 00:11:43,000 --> 00:11:45,040 Speaker 1: with the insurance company or send them a checkbook, and 216 00:11:45,160 --> 00:11:48,360 Speaker 1: they can just draw off of the insurance policy whenever 217 00:11:48,400 --> 00:11:50,600 Speaker 1: they need the money. But let's say that they actually 218 00:11:50,600 --> 00:11:53,360 Speaker 1: just take the lump sum of one million dollars, the 219 00:11:53,400 --> 00:11:56,400 Speaker 1: million dollars is going to be a tax free million 220 00:11:56,440 --> 00:11:58,360 Speaker 1: that's going to be to your family nine times out 221 00:11:58,400 --> 00:12:01,520 Speaker 1: of ten, so you get a million dollar dollars. So now, 222 00:12:01,720 --> 00:12:04,520 Speaker 1: the worst thing that you can do is just give 223 00:12:04,600 --> 00:12:07,120 Speaker 1: somebody a million dollars with no plan, because we know 224 00:12:07,280 --> 00:12:09,920 Speaker 1: that they're going to blow that million dollars very very easily. 225 00:12:10,360 --> 00:12:10,560 Speaker 2: Right. 226 00:12:10,640 --> 00:12:12,400 Speaker 1: So now, and this is what storm lee or was 227 00:12:12,440 --> 00:12:14,839 Speaker 1: talking about. If you set the million dollars up where 228 00:12:14,880 --> 00:12:16,160 Speaker 1: you can set it up in the trust, or even 229 00:12:16,160 --> 00:12:17,319 Speaker 1: if you don't set it up in the trust, you 230 00:12:17,320 --> 00:12:19,480 Speaker 1: could just give them directions on how to actually invest it. 231 00:12:19,480 --> 00:12:22,240 Speaker 1: And let's say that they just invest the money in 232 00:12:22,800 --> 00:12:27,440 Speaker 1: long term Conservative index fund, right, and they're drawing Let's 233 00:12:27,440 --> 00:12:32,280 Speaker 1: say they draw five percent off of that. Why do 234 00:12:32,360 --> 00:12:37,079 Speaker 1: I say five percent because that the Monte Carlo stimulation 235 00:12:37,520 --> 00:12:40,520 Speaker 1: factor is that if you draw a five percent over 236 00:12:40,559 --> 00:12:43,240 Speaker 1: the court of time, then you'll never run out of money. 237 00:12:43,240 --> 00:12:46,000 Speaker 1: That's like a retirement formula. So if you take five 238 00:12:46,040 --> 00:12:50,400 Speaker 1: percent from a million, that is fifty thousand dollars, right, 239 00:12:50,480 --> 00:12:54,320 Speaker 1: So that's really replacing your income in that scenario. So 240 00:12:54,920 --> 00:12:56,880 Speaker 1: when you look at it from that standpoint, if you 241 00:12:56,880 --> 00:12:59,400 Speaker 1: look at okay, even if you go higher, you'll say, 242 00:12:59,440 --> 00:13:01,679 Speaker 1: even if you take seven percent off of every single year, 243 00:13:01,679 --> 00:13:03,720 Speaker 1: every year, you're taking seven percent off, and that's higher 244 00:13:04,200 --> 00:13:08,120 Speaker 1: for people that's taking money from their accounts. Now you 245 00:13:08,240 --> 00:13:13,120 Speaker 1: have seventy thousand dollars a year. Still, that's still it 246 00:13:13,160 --> 00:13:16,240 Speaker 1: doesn't seem like that much money, right. You're just replacing 247 00:13:16,240 --> 00:13:19,000 Speaker 1: your income pretty much. So it's not like you're so 248 00:13:19,080 --> 00:13:21,640 Speaker 1: if you're making one hundred thousand dollars a year, you're 249 00:13:21,679 --> 00:13:26,160 Speaker 1: probably walking away with sixty five thousand dollars. So if 250 00:13:26,160 --> 00:13:28,559 Speaker 1: you have a million dollar life insurance policy and you're 251 00:13:28,679 --> 00:13:32,320 Speaker 1: joining seven seven percent seventy thousand, you're pretty much just 252 00:13:32,360 --> 00:13:34,760 Speaker 1: replacing your income at that point in time. So this 253 00:13:34,880 --> 00:13:38,280 Speaker 1: is why it's beneficial to have more than And you 254 00:13:38,360 --> 00:13:40,559 Speaker 1: got to realize too, if you're making one hundred thousand dollars, 255 00:13:40,559 --> 00:13:42,920 Speaker 1: then you have a one hundred thousand dollars policy. I 256 00:13:42,920 --> 00:13:45,280 Speaker 1: mean that's just one year. Like you might live for 257 00:13:45,880 --> 00:13:48,000 Speaker 1: what your family's gonna need money for twenty years. Your 258 00:13:48,040 --> 00:13:50,160 Speaker 1: family gonna need money for thirty fifteen years. So it's 259 00:13:50,200 --> 00:13:53,520 Speaker 1: important to think bigger. So that was kind of a 260 00:13:53,559 --> 00:13:55,679 Speaker 1: long answer to the question, but I just want to raction. 261 00:13:56,640 --> 00:13:57,400 Speaker 5: Earners, what's up. 262 00:13:57,480 --> 00:13:59,880 Speaker 6: You ever walk into a small business and everything just 263 00:14:00,160 --> 00:14:03,280 Speaker 6: works like the checkout is fast, the receipts or digital 264 00:14:03,800 --> 00:14:06,800 Speaker 6: tipping is a breeze, and you're out the door before 265 00:14:06,800 --> 00:14:10,960 Speaker 6: the line even builds odds are they're using Square. We 266 00:14:11,120 --> 00:14:13,640 Speaker 6: love supporting businesses that run on Square because it just 267 00:14:13,679 --> 00:14:16,920 Speaker 6: feels seamless. Whether it's a local coffee shop, a vendor 268 00:14:16,960 --> 00:14:19,240 Speaker 6: at a pop up market, or even one of our 269 00:14:19,280 --> 00:14:22,960 Speaker 6: merch partners, Square makes it easy for them to take payments, 270 00:14:23,160 --> 00:14:26,840 Speaker 6: manage inventory, and run their business with confidence, all from 271 00:14:27,000 --> 00:14:30,400 Speaker 6: one simple system. If you're a business owner or even 272 00:14:30,480 --> 00:14:34,000 Speaker 6: just thinking about launching something soon, Square is hands down 273 00:14:34,040 --> 00:14:37,080 Speaker 6: one of the best tools out there to help you start, run, 274 00:14:37,280 --> 00:14:40,640 Speaker 6: and grow. It's not just about payments, it's about giving 275 00:14:40,640 --> 00:14:43,320 Speaker 6: you time back so you can focus on what matters 276 00:14:43,360 --> 00:14:46,600 Speaker 6: most ready. To see how Square can transform your business, 277 00:14:46,880 --> 00:14:51,520 Speaker 6: visit Square dot com backslash, go backslash eyl to learn 278 00:14:51,560 --> 00:14:56,760 Speaker 6: more that Square dot com backslash, go backslash eyl. Don't wait, 279 00:14:57,040 --> 00:14:59,760 Speaker 6: don't hesitate. Let's Square handle the back end so you 280 00:14:59,840 --> 00:15:06,240 Speaker 6: can keep pushing your vision forward. This episode is brought 281 00:15:06,240 --> 00:15:08,160 Speaker 6: to you by P and C Bank. A lot of 282 00:15:08,160 --> 00:15:11,760 Speaker 6: people think podcasts about work are boring, and sure they 283 00:15:11,800 --> 00:15:15,720 Speaker 6: definitely can be. 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P and C Bank National Association 292 00:15:44,280 --> 00:15:45,280 Speaker 6: Member FDIC. 293 00:15:47,040 --> 00:15:50,640 Speaker 7: An illegal alien from Guatemala charged with raping a child 294 00:15:50,720 --> 00:15:54,520 Speaker 7: in Massachusetts. An MS thirteen gang member from El Salvador 295 00:15:54,760 --> 00:15:58,920 Speaker 7: accused of murdering a Texas. Man of Venezuelan charged with 296 00:15:58,960 --> 00:16:02,880 Speaker 7: filming and selling child pornography in Michigan. These are just 297 00:16:02,960 --> 00:16:06,720 Speaker 7: some of the heinous migrant criminals caught because of President 298 00:16:06,760 --> 00:16:10,360 Speaker 7: Donald J. Trump's leadership. I'm Christy Noman, the United States 299 00:16:10,360 --> 00:16:15,160 Speaker 7: Secretary of Homeland Security. Under President Trump. Attempted illegal border 300 00:16:15,200 --> 00:16:18,720 Speaker 7: crossings are at the lowest levels. Ever recorded, and over 301 00:16:18,800 --> 00:16:22,040 Speaker 7: one hundred thousand illegal aliens have been arrested. If you 302 00:16:22,080 --> 00:16:25,960 Speaker 7: are here illegally, your next you will be fine nearly 303 00:16:26,040 --> 00:16:30,040 Speaker 7: one thousand dollars a day, imprisoned and deported, you will 304 00:16:30,080 --> 00:16:33,720 Speaker 7: never return. But if you register using our CBP home 305 00:16:33,760 --> 00:16:37,160 Speaker 7: app and leave now, you could be allowed to return legally. 306 00:16:37,520 --> 00:16:42,280 Speaker 7: Do what's right, leave now. Under President Trump America's laws, 307 00:16:42,440 --> 00:16:44,880 Speaker 7: border and families will be protected. 308 00:16:44,960 --> 00:16:47,040 Speaker 5: Sponsored by the United States Department of Homeland Security. 309 00:16:47,440 --> 00:16:48,960 Speaker 1: Because I know if I just say, like you need 310 00:16:48,960 --> 00:16:51,640 Speaker 1: a million dollars worth of insurance, people like I don't 311 00:16:51,640 --> 00:16:53,520 Speaker 1: need a million dollars, Like I don't even have a 312 00:16:53,520 --> 00:16:54,040 Speaker 1: million dollars. 313 00:16:54,040 --> 00:16:55,560 Speaker 2: Why would I need a million dollars? 314 00:16:55,560 --> 00:16:57,720 Speaker 1: Well, eight, that's not the best way to think about it, 315 00:16:57,760 --> 00:16:59,520 Speaker 1: because you want to leave more money than you have. 316 00:17:00,120 --> 00:17:04,399 Speaker 1: But also just from a pure practical standpoint of replacing 317 00:17:04,400 --> 00:17:07,560 Speaker 1: your income, because that's what life insurance is for, You're 318 00:17:07,560 --> 00:17:09,840 Speaker 1: going to need a bigger number to replace what you're 319 00:17:09,840 --> 00:17:10,760 Speaker 1: currently living on. 320 00:17:11,200 --> 00:17:13,120 Speaker 3: Planning for the future because you're going to be older 321 00:17:13,119 --> 00:17:15,520 Speaker 3: a lot longer than you're gonna be younger. But I'll 322 00:17:15,560 --> 00:17:19,119 Speaker 3: ask you this based on your expertise in the field 323 00:17:19,160 --> 00:17:21,360 Speaker 3: and being in the field for over thirteen years. When 324 00:17:21,359 --> 00:17:24,679 Speaker 3: you see an article like that, seeing one hundred billion 325 00:17:24,800 --> 00:17:28,000 Speaker 3: is paid out, I think they said in the article 326 00:17:28,119 --> 00:17:32,800 Speaker 3: like forty six million policies were sold in twenty twenty one, 327 00:17:33,040 --> 00:17:36,439 Speaker 3: which is a six percent increase. However, the actual coverage 328 00:17:36,480 --> 00:17:39,080 Speaker 3: amount has gone down, so like people are getting policies 329 00:17:39,080 --> 00:17:42,400 Speaker 3: that actually less, which is kind of what I was thinking, like, yes, 330 00:17:42,560 --> 00:17:45,520 Speaker 3: are we involved, what type of policies are we getting 331 00:17:45,560 --> 00:17:48,520 Speaker 3: obviously to whole life in terms all those but the 332 00:17:48,560 --> 00:17:50,560 Speaker 3: amounts are going down I think like one and a 333 00:17:50,560 --> 00:17:51,119 Speaker 3: half percent. 334 00:17:51,200 --> 00:17:54,680 Speaker 5: So what does that say to you when you look 335 00:17:54,720 --> 00:17:55,040 Speaker 5: at that? 336 00:17:56,440 --> 00:17:57,359 Speaker 2: What's it again? 337 00:17:57,480 --> 00:18:01,440 Speaker 3: Like reframing question, so pretty much seeing that, seeing these 338 00:18:01,440 --> 00:18:04,679 Speaker 3: statistics right and knowing that more people obviously are you 339 00:18:04,720 --> 00:18:07,000 Speaker 3: looking at it? Is it a courage encouraging sign or 340 00:18:07,080 --> 00:18:09,679 Speaker 3: like all right, you know what? People still don't get it. 341 00:18:09,840 --> 00:18:10,960 Speaker 3: These numbers should be higher. 342 00:18:11,880 --> 00:18:14,240 Speaker 1: Well I don't know if they should be higher, because 343 00:18:14,280 --> 00:18:17,120 Speaker 1: I mean, one hundred billion dollars is a lot of money, 344 00:18:17,359 --> 00:18:20,640 Speaker 1: so and it's an all time record, So I think 345 00:18:20,720 --> 00:18:24,360 Speaker 1: that people are but also we have to understand that 346 00:18:24,440 --> 00:18:27,199 Speaker 1: people are dying too. I think this is like one 347 00:18:27,200 --> 00:18:31,040 Speaker 1: of the first years where the projected life expectancy has 348 00:18:31,080 --> 00:18:34,680 Speaker 1: actually decreased a little bit. So you know, you got COVID, 349 00:18:35,400 --> 00:18:38,280 Speaker 1: you got but outside of COVID, right, you have just 350 00:18:38,680 --> 00:18:42,800 Speaker 1: unhealthy lifestyle for Americans, period, high blood and this is 351 00:18:42,840 --> 00:18:46,040 Speaker 1: this is something that's extremely important. Everything ties in together. 352 00:18:46,440 --> 00:18:49,560 Speaker 1: So when we talk about finance, you have to talk 353 00:18:49,560 --> 00:18:53,359 Speaker 1: about health because the two go together, and especially in 354 00:18:53,440 --> 00:18:57,919 Speaker 1: life insurance conversation, especially with black people. So black people 355 00:18:58,520 --> 00:19:02,000 Speaker 1: traditionally have had at the times getting life insurance and 356 00:19:02,080 --> 00:19:05,200 Speaker 1: have had higher rates. One of the reasons for that 357 00:19:05,440 --> 00:19:09,480 Speaker 1: is because of their medical state. So black people on 358 00:19:09,640 --> 00:19:13,120 Speaker 1: average have diabetes at a higher rate than the regular population, 359 00:19:13,680 --> 00:19:16,720 Speaker 1: have higher cholesterol at a higher rate than the regular population, 360 00:19:17,160 --> 00:19:19,320 Speaker 1: have high blood pressure at the high at a higher 361 00:19:19,400 --> 00:19:23,440 Speaker 1: rate than the regular population, and are over are overweight 362 00:19:23,920 --> 00:19:28,240 Speaker 1: more than the regular population. This is something that is 363 00:19:28,320 --> 00:19:33,000 Speaker 1: extremely detrimental to not only your physical you know, situation, 364 00:19:33,440 --> 00:19:36,959 Speaker 1: but also for your economic situation because now that's going 365 00:19:37,040 --> 00:19:39,720 Speaker 1: to determine if you can get life insurance, if your 366 00:19:39,720 --> 00:19:43,840 Speaker 1: life insurance policy is going to be higher. So that's 367 00:19:43,920 --> 00:19:47,560 Speaker 1: part of the conversation as well. And as far as 368 00:19:47,600 --> 00:19:52,480 Speaker 1: you know, people dying, so when you're planning your financial plan, 369 00:19:53,160 --> 00:19:55,680 Speaker 1: you have to you have to have your life in order, 370 00:19:56,200 --> 00:19:58,119 Speaker 1: and you have to you have to be in shape, 371 00:19:58,280 --> 00:20:00,119 Speaker 1: you have to, you know, take care of yourself. You 372 00:20:00,160 --> 00:20:02,600 Speaker 1: have to eat good. These are all things that you 373 00:20:02,640 --> 00:20:05,560 Speaker 1: know go hand in hand. Your physical health and your 374 00:20:05,600 --> 00:20:08,359 Speaker 1: financial health are usually related. I learned this early on 375 00:20:08,400 --> 00:20:11,359 Speaker 1: when I was first started working in finance. Most successful 376 00:20:11,400 --> 00:20:15,200 Speaker 1: CEOs are in shape. Of course, there's always going to 377 00:20:15,240 --> 00:20:17,840 Speaker 1: be exceptions to the rule, I get it. But if 378 00:20:17,840 --> 00:20:21,960 Speaker 1: you look at if you take a survey, very rarely 379 00:20:22,000 --> 00:20:25,879 Speaker 1: do you see a successful CEO not in shape. The 380 00:20:26,000 --> 00:20:31,240 Speaker 1: two go hand in hand, right, disciplined exactly. So this 381 00:20:31,280 --> 00:20:35,639 Speaker 1: is something that's extremely important to talk about because you know, 382 00:20:36,440 --> 00:20:40,119 Speaker 1: if we're dying, that's bad, but if we're dying and 383 00:20:40,200 --> 00:20:42,399 Speaker 1: not even having any life insurance, that's even worse. 384 00:20:43,160 --> 00:20:46,120 Speaker 3: Yeah, and that's mostly I mean, for a long time 385 00:20:46,240 --> 00:20:49,240 Speaker 3: that was the situation with dying with nothing and leaving 386 00:20:49,880 --> 00:20:52,760 Speaker 3: Like you used to say this to I remember being 387 00:20:52,800 --> 00:20:55,280 Speaker 3: here on the Saturday, cause it'd be like, not only 388 00:20:55,320 --> 00:20:57,720 Speaker 3: are you leaving nothing, but you're actually leaving debt because 389 00:20:57,720 --> 00:20:59,560 Speaker 3: the people who are left behind now have to pay 390 00:20:59,560 --> 00:21:01,960 Speaker 3: for your funeral rule and they didn't have the money 391 00:21:01,960 --> 00:21:03,480 Speaker 3: to pay for it, so now they have to figure 392 00:21:03,480 --> 00:21:06,640 Speaker 3: out how to even afford to bury you. So people, 393 00:21:06,680 --> 00:21:08,440 Speaker 3: I mean, that's why I said, man, that that that 394 00:21:08,480 --> 00:21:12,040 Speaker 3: line of planning for the future is so so so vital, 395 00:21:12,520 --> 00:21:13,640 Speaker 3: especially to our community. 396 00:21:13,680 --> 00:21:14,639 Speaker 5: We have to look at it. 397 00:21:14,680 --> 00:21:18,320 Speaker 3: We have to have the Mantranset mind set to change 398 00:21:18,800 --> 00:21:20,760 Speaker 3: how we view the world and how we view life. 399 00:21:20,800 --> 00:21:22,920 Speaker 3: I remember just even trying to have a conversation about 400 00:21:22,920 --> 00:21:25,480 Speaker 3: life insurance to like my coworkers and they'll be like, 401 00:21:26,080 --> 00:21:28,440 Speaker 3: I'm not thinking about dying, And it's kind of like 402 00:21:28,480 --> 00:21:30,440 Speaker 3: we have this mindset where it's like, if we get it, 403 00:21:30,960 --> 00:21:35,600 Speaker 3: we get life insurance waiting, we're waiting to die. It's like, no, no, 404 00:21:35,680 --> 00:21:39,320 Speaker 3: it's not really. It's just education. That's what it comes 405 00:21:39,359 --> 00:21:39,600 Speaker 3: down to. 406 00:21:39,880 --> 00:21:40,240 Speaker 5: Education. 407 00:21:40,280 --> 00:21:43,239 Speaker 4: And I think it's undeniable that the healthcare space is 408 00:21:43,600 --> 00:21:47,040 Speaker 4: incredibly important, whether it's on the life insurance side or 409 00:21:47,080 --> 00:21:51,440 Speaker 4: the market. That's why companies like United Healthcare, Striker, Eli, 410 00:21:51,560 --> 00:21:55,480 Speaker 4: Lilly are incredibly important. So in some way your portfolio 411 00:21:55,600 --> 00:21:59,919 Speaker 4: does need to have ten to twenty percent exposure for you. 412 00:22:00,040 --> 00:22:03,679 Speaker 4: They get paid throughout your life or post life. So 413 00:22:03,800 --> 00:22:07,320 Speaker 4: please write down what percentage of your capital is going 414 00:22:07,359 --> 00:22:10,439 Speaker 4: to go to life insurance and what percentage is going 415 00:22:10,520 --> 00:22:15,080 Speaker 4: to go to the healthcare sector. You cannot avoid that 416 00:22:15,240 --> 00:22:19,160 Speaker 4: sector at all. But I will say our physical ailments 417 00:22:19,200 --> 00:22:24,640 Speaker 4: and diseases that are problematic in our community are placed 418 00:22:24,720 --> 00:22:28,760 Speaker 4: upon us, not because we are collectively lazy or dog. 419 00:22:30,600 --> 00:22:32,800 Speaker 1: That's true, but then also but also we have to 420 00:22:33,160 --> 00:22:35,199 Speaker 1: there's a certain level of accountability that has to be 421 00:22:35,280 --> 00:22:40,760 Speaker 1: taken because we understand that even traditionally, right we were 422 00:22:40,840 --> 00:22:44,320 Speaker 1: given diets that were detrimental to us, like all it 423 00:22:44,440 --> 00:22:49,680 Speaker 1: soul food is pretty much slaveful that you know, pig feet, octails, 424 00:22:49,760 --> 00:22:51,960 Speaker 1: these are the worst parts of the animal that was 425 00:22:52,000 --> 00:22:55,119 Speaker 1: thrown away and we made They didn't have an option 426 00:22:55,800 --> 00:22:59,680 Speaker 1: they had to make out of their situation. But now 427 00:22:59,680 --> 00:23:03,880 Speaker 1: we're in twenty twenty two. Now we're educated. We don't 428 00:23:03,960 --> 00:23:06,840 Speaker 1: have to make those same decisions. Now a lot of 429 00:23:06,920 --> 00:23:11,240 Speaker 1: times it's done by choice. You're if you're educated and 430 00:23:11,280 --> 00:23:15,760 Speaker 1: you're still making the same decisions about food that slaves made, 431 00:23:16,359 --> 00:23:19,120 Speaker 1: then you gotta look yourself in the mirror. We know 432 00:23:20,200 --> 00:23:22,280 Speaker 1: there's liquor stores on every corner, but who told you 433 00:23:22,320 --> 00:23:26,199 Speaker 1: who made you drink liquor. You know what I'm saying, like, 434 00:23:26,240 --> 00:23:28,840 Speaker 1: at some point in time, there has to be some 435 00:23:29,040 --> 00:23:32,440 Speaker 1: level of accountability to stay the odds is always gonna 436 00:23:32,440 --> 00:23:34,960 Speaker 1: be stacked against us we're black in America. 437 00:23:35,640 --> 00:23:38,280 Speaker 4: But also it's really going to talk about what our 438 00:23:38,320 --> 00:23:41,080 Speaker 4: politicians and allow for. So when I go to Mexico, 439 00:23:41,600 --> 00:23:43,679 Speaker 4: which I can't wait to go and set up by 440 00:23:43,680 --> 00:23:47,720 Speaker 4: place o God, God, it's good. The preservatives that are 441 00:23:47,720 --> 00:23:50,439 Speaker 4: in the food that I eat there are not present 442 00:23:50,480 --> 00:23:52,320 Speaker 4: in the food that I have in the United States. 443 00:23:52,400 --> 00:23:53,880 Speaker 5: So yes, we have to make. 444 00:23:55,160 --> 00:23:59,560 Speaker 4: Delicacies out of parts that were not favorable. But if 445 00:23:59,720 --> 00:24:03,840 Speaker 4: pep See and Hormel and Crafts are putting preservatives and 446 00:24:03,960 --> 00:24:07,160 Speaker 4: extra sodium into everything that we eat, at what point 447 00:24:07,160 --> 00:24:10,880 Speaker 4: when we keep those companies responsible and not just say 448 00:24:10,920 --> 00:24:14,119 Speaker 4: it's the people's job to be responsible for what the 449 00:24:14,119 --> 00:24:17,080 Speaker 4: corporations are doing based on the lobby and powers to 450 00:24:17,240 --> 00:24:19,399 Speaker 4: have that the politicians didn't allow. 451 00:24:21,320 --> 00:24:25,600 Speaker 1: Well, that's true, that definitely the food industry needs to 452 00:24:25,600 --> 00:24:28,280 Speaker 1: be held accountable. But once again, we live in America. 453 00:24:28,400 --> 00:24:32,560 Speaker 1: So you know, it's beneficial to keep people sick. They've 454 00:24:32,600 --> 00:24:37,640 Speaker 1: been hold doctor. True, it's profitable, it's profitable to keep 455 00:24:37,680 --> 00:24:38,240 Speaker 1: people sick. 456 00:24:38,280 --> 00:24:40,760 Speaker 2: It's not to keep us on the normally. 457 00:24:40,800 --> 00:24:49,119 Speaker 4: This is my lane, all right, the situation, I think 458 00:24:49,160 --> 00:24:50,840 Speaker 4: we can do Barclays next year. I don't want to 459 00:24:50,840 --> 00:24:53,760 Speaker 4: get our wings clip. I've ever seen what Dope Sick? 460 00:24:53,880 --> 00:24:54,040 Speaker 3: Is it? 461 00:24:54,800 --> 00:24:55,800 Speaker 5: That's a great movie. 462 00:24:56,200 --> 00:24:58,000 Speaker 1: Yeah, I mean, but one of these things where it's 463 00:24:58,040 --> 00:25:01,480 Speaker 1: like the pharmaceutical industry right where they've made billions of 464 00:25:01,480 --> 00:25:06,200 Speaker 1: dollars and there's no effort to make people healthy. It's 465 00:25:06,240 --> 00:25:10,159 Speaker 1: only efforts to put people on medication. So it's like, 466 00:25:10,359 --> 00:25:12,080 Speaker 1: you know, it's like this. This is a great book 467 00:25:12,119 --> 00:25:14,960 Speaker 1: called How Not to Die, And the whole point of 468 00:25:15,000 --> 00:25:17,199 Speaker 1: the book is that I've caused everybody dies, right, But 469 00:25:17,240 --> 00:25:19,520 Speaker 1: they're saying that ninety five percent of the reasons why 470 00:25:19,560 --> 00:25:24,400 Speaker 1: people die prematurely are preventable, like most cancers are preventable, right, 471 00:25:24,680 --> 00:25:27,600 Speaker 1: and most of it is through your diet. So the 472 00:25:27,680 --> 00:25:29,399 Speaker 1: guy that wrote it was a doctor, and he was 473 00:25:29,440 --> 00:25:33,359 Speaker 1: saying that he stopped practicing medicine because they were only 474 00:25:33,400 --> 00:25:36,639 Speaker 1: teaching people. They were only teaching the doctors how to 475 00:25:36,800 --> 00:25:40,360 Speaker 1: treat patients with medication, but they weren't teaching the doctors 476 00:25:40,359 --> 00:25:43,040 Speaker 1: how to tell the people not to get sick, Like 477 00:25:43,040 --> 00:25:45,280 Speaker 1: you know what I'm saying, Like it's like, Okay, you're overweight. 478 00:25:45,600 --> 00:25:48,399 Speaker 1: Here's blood pressure medication. Why don't you tell them how 479 00:25:48,440 --> 00:25:51,000 Speaker 1: to lose fifty pounds so they don't so they're not overweight, 480 00:25:51,680 --> 00:25:57,120 Speaker 1: Like that's probably more beneficial than treating them. And now 481 00:25:57,160 --> 00:25:59,560 Speaker 1: you got to take this medication for the next thirty years. 482 00:25:59,680 --> 00:26:02,720 Speaker 3: That goes back to the self accountability part. Like two 483 00:26:02,760 --> 00:26:04,600 Speaker 3: months ago, I went to the doctor. They said I 484 00:26:04,640 --> 00:26:07,240 Speaker 3: had high blood pressure. I looked at my wife and 485 00:26:07,520 --> 00:26:09,919 Speaker 3: I said, oh, time to change my life like that 486 00:26:10,040 --> 00:26:12,600 Speaker 3: quick and it was like, all right, let's cut out sodium. 487 00:26:12,680 --> 00:26:15,440 Speaker 5: And that was interesting. We just had this like epiphany. 488 00:26:15,560 --> 00:26:18,360 Speaker 3: But like we for so long we've been taught that, 489 00:26:18,440 --> 00:26:20,399 Speaker 3: you know, like yo, that food. 490 00:26:20,119 --> 00:26:22,480 Speaker 5: Don't have no flavor. Yo, we don't have no flavor. 491 00:26:22,800 --> 00:26:23,639 Speaker 5: And we looked at. 492 00:26:23,480 --> 00:26:26,520 Speaker 3: Other coaches in community, like yo, that's that food is bland. 493 00:26:26,560 --> 00:26:30,320 Speaker 3: That food is bland, no preservatives, and it was like, yeah, 494 00:26:31,200 --> 00:26:33,920 Speaker 3: the reason it is is because there's no salt added. 495 00:26:33,960 --> 00:26:36,879 Speaker 3: There's no sodium added into it. And quickly, like I 496 00:26:37,280 --> 00:26:41,000 Speaker 3: literally watched my like my whole body just change and 497 00:26:41,080 --> 00:26:41,639 Speaker 3: feel different. 498 00:26:41,760 --> 00:26:43,840 Speaker 2: How much weight did you lose damn shy do you 499 00:26:44,000 --> 00:26:46,080 Speaker 2: put me on? Yeah, Like. 500 00:26:48,119 --> 00:26:51,879 Speaker 3: A matter of like I say, about six weeks, I 501 00:26:51,920 --> 00:26:56,240 Speaker 3: probably lost like twenty two pounds, crazy, crazy, And it 502 00:26:56,280 --> 00:26:57,840 Speaker 3: was just it was one of those things where it 503 00:26:57,880 --> 00:27:00,600 Speaker 3: was like we moved so much and so out all 504 00:27:00,640 --> 00:27:04,320 Speaker 3: the time, and we eat bad, and when we do eat, 505 00:27:04,320 --> 00:27:06,040 Speaker 3: it's late, and then we're going to sleep, and so 506 00:27:06,080 --> 00:27:08,560 Speaker 3: we try to get exercise in and it's like it's 507 00:27:08,600 --> 00:27:11,160 Speaker 3: just really inconsistent. But one thing that can be consistent 508 00:27:11,240 --> 00:27:13,639 Speaker 3: is the discipline to say, all right, I'm not doing 509 00:27:13,680 --> 00:27:17,280 Speaker 3: that right. So like I stopped drinking soda, I stopped 510 00:27:17,280 --> 00:27:20,760 Speaker 3: eating candy, I'm only having water, I'm only eating like 511 00:27:20,880 --> 00:27:23,199 Speaker 3: oatmeal for breakfast, and you know what I'm saying, Like 512 00:27:23,240 --> 00:27:24,960 Speaker 3: these are the Like it was just this mindset change 513 00:27:24,960 --> 00:27:27,480 Speaker 3: because I'm looking at myself. Like when I saw it 514 00:27:27,480 --> 00:27:30,480 Speaker 3: the blood pressure red, I was just like nah. And 515 00:27:30,520 --> 00:27:32,080 Speaker 3: then the doctor came in. He was like, yo, if 516 00:27:32,080 --> 00:27:34,040 Speaker 3: we continue this for ten years, you won't be here. 517 00:27:34,359 --> 00:27:35,360 Speaker 3: That's all I needed to hear. 518 00:27:35,680 --> 00:27:37,840 Speaker 5: I didn't. That was it. That was it. 519 00:27:37,920 --> 00:27:40,040 Speaker 3: And so my wife was like, look, this is what 520 00:27:40,080 --> 00:27:43,760 Speaker 3: we're doing. I'm like, bet, let's do it. So yeah, man, 521 00:27:44,040 --> 00:27:46,959 Speaker 3: it goes back to that the education around it and 522 00:27:47,040 --> 00:27:50,080 Speaker 3: having self accountability to say, like I'm willing to stop 523 00:27:50,119 --> 00:27:53,440 Speaker 3: this is it worth me being here for my kids? 524 00:27:54,440 --> 00:27:54,879 Speaker 5: That was it. 525 00:27:55,640 --> 00:27:58,720 Speaker 4: If you guys need a place to go to have 526 00:27:58,960 --> 00:28:03,000 Speaker 4: very healthy food, get your tickets from That's that's uk. 527 00:28:03,119 --> 00:28:03,720 Speaker 5: That ship. 528 00:28:06,680 --> 00:28:08,760 Speaker 2: Boy. But it was interesting. 529 00:28:08,800 --> 00:28:10,920 Speaker 4: I was even at a restaurant and I'm like, hey, 530 00:28:11,119 --> 00:28:14,480 Speaker 4: like what about this is like you Americans are so 531 00:28:14,600 --> 00:28:17,359 Speaker 4: poisoned you don't even know good food. I'm like, Jill, 532 00:28:17,800 --> 00:28:22,200 Speaker 4: but we don't have less preservatives than the ones here. 533 00:28:22,720 --> 00:28:23,960 Speaker 2: But you know, you know what's so crazy. 534 00:28:24,440 --> 00:28:28,639 Speaker 1: I went to Thailand five years ago, and you know, 535 00:28:28,800 --> 00:28:32,320 Speaker 1: I was just eating fruit and just the pineapples and 536 00:28:32,359 --> 00:28:34,680 Speaker 1: every it tastes like I never tasted pineapples before. 537 00:28:34,720 --> 00:28:37,199 Speaker 2: But I realized that's because that was like real pineapps. 538 00:28:37,520 --> 00:28:37,760 Speaker 2: I had. 539 00:28:37,840 --> 00:28:39,760 Speaker 1: I had a milkshake and it tore my stomach up 540 00:28:39,800 --> 00:28:43,400 Speaker 1: because that was like real milk. Like, so we get 541 00:28:43,440 --> 00:28:47,760 Speaker 1: so used to the preservatives and artificial flavoring and everything 542 00:28:47,760 --> 00:28:50,400 Speaker 1: that's in our food. When we go to these other countries, 543 00:28:50,560 --> 00:28:53,200 Speaker 1: that's like real food. Like even our fruit is not 544 00:28:53,280 --> 00:28:54,760 Speaker 1: real food. This is why you got to grow your 545 00:28:54,800 --> 00:28:56,960 Speaker 1: own food. I could have a whole thing about this, 546 00:28:57,000 --> 00:28:58,640 Speaker 1: but I was gonna say like we would. We was 547 00:28:58,720 --> 00:29:01,040 Speaker 1: in Abu Dabi. We were sitting and we're like, yo, 548 00:29:01,480 --> 00:29:02,800 Speaker 1: this food is it? And he was like, Yo. 549 00:29:02,960 --> 00:29:06,400 Speaker 3: The barriers for us to have food in America are 550 00:29:06,440 --> 00:29:08,680 Speaker 3: so low that you can put anything in it and 551 00:29:08,720 --> 00:29:10,520 Speaker 3: it's going to be DEFDA is going to pass Awhayas 552 00:29:10,560 --> 00:29:13,920 Speaker 3: in other countries and other places, they have to have 553 00:29:14,080 --> 00:29:16,880 Speaker 3: legitimate food or it can't be served to the public. 554 00:29:17,360 --> 00:29:21,760 Speaker 3: Not the same here. But we digressed. Health is really healths. 555 00:29:22,680 --> 00:29:25,680 Speaker 3: I appreciate it. You been glowing looking good. 556 00:29:25,880 --> 00:29:29,080 Speaker 4: I know you was tired yesterday, but man, you noah, 557 00:29:30,240 --> 00:29:31,800 Speaker 4: But I do want to give him an ETF really 558 00:29:31,880 --> 00:29:34,800 Speaker 4: quick for the healthcare space. Please write this down a 559 00:29:34,960 --> 00:29:40,120 Speaker 4: VHT that is Vanguard's health ETF. If you go back 560 00:29:40,120 --> 00:29:43,880 Speaker 4: to twenty and seventeen, it was at twenty eight dollars 561 00:29:43,920 --> 00:29:45,720 Speaker 4: and seventy eight cents and it is now at two 562 00:29:45,800 --> 00:29:50,520 Speaker 4: hundred and forty eight dollars in thirty five cent. So 563 00:29:50,560 --> 00:29:52,720 Speaker 4: that's been some nice growth. Twenty twenty was a good 564 00:29:52,720 --> 00:29:54,720 Speaker 4: time to buy in. I'll give you guys a price. 565 00:29:55,880 --> 00:30:01,000 Speaker 4: Everybody in Patterson writes this now six will be a 566 00:30:01,040 --> 00:30:04,520 Speaker 4: good place to enter. It is a little bout in 567 00:30:04,600 --> 00:30:08,320 Speaker 4: Jersey forever. And then are you listening real two O 568 00:30:08,480 --> 00:30:11,200 Speaker 4: six ninety and New York, Because you know, I love y'all. 569 00:30:11,520 --> 00:30:13,840 Speaker 4: You know I just want you to give me that 570 00:30:13,840 --> 00:30:17,560 Speaker 4: that that roud, the loud Harlem energy. 571 00:30:18,600 --> 00:30:20,480 Speaker 5: I love you, I love your idea. 572 00:30:23,080 --> 00:30:28,520 Speaker 1: My graduates from my school being forced back drop, back drop, 573 00:30:29,160 --> 00:30:31,720 Speaker 1: Mike drop, back drop drop