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Professional Development: $100 BILLION IN LIFE INSURANCE PAYOUTS · Earn Your Leisure

0:00
Speaker 1: A record breaking year for life insurance payouts. One hundred
0:07
Speaker 1: billion dollars was paid out in twenty twenty one from
0:12
Speaker 1: life insurance companies to beneficiaries. So that is actually an
0:18
Speaker 1: eleven percent jump from twenty twenty, which represented the largest
0:23
Speaker 1: year over year increase fifteen percent since nineteen eighteen influenza pandemic.
0:34
Speaker 2: So that's crazy. So all right, life insurance.
0:41
Speaker 1: Yeah, whenever I have a financial planning call for Eyo University,
0:45
Speaker 1: I always get the most questions about life insurance. Is
0:48
Speaker 1: an ongoing thing, like every single time. So it's never
0:51
Speaker 1: a bad time to talk about life insurance because I
0:53
Speaker 1: realized that so many people still have so much questions
0:55
Speaker 1: about life insurance.
0:56
Speaker 2: But I want to talk about it, but I want I.
1:00
Speaker 1: Want to get you guys opinion on it before before
1:02
Speaker 1: I stopped talking about it.
1:03
Speaker 2: So, all right, one hundred billion dollars.
1:05
Speaker 1: Was paid out last year from life insurance companies to beneficiary.
1:10
Speaker 2: So what's your initial thoughts on that.
1:13
Speaker 3: I'm a little conflicted, to be honest with you, right
1:16
Speaker 3: to be for a couple of reasons. The first reason
1:20
Speaker 3: is that if it's paid out, that means people actually
1:22
Speaker 3: had it, and I'm telling you. When we sat down
1:26
Speaker 3: fifteen twenty years ago and we were talking about life insurance,
1:29
Speaker 3: it was not even a topic in our community, Like
1:32
Speaker 3: nobody was even interested in hearing about it. Now, out
1:35
Speaker 3: of that one hundred billion, I'd be interested to see
1:37
Speaker 3: how much it was paid out for communities that look
1:40
Speaker 3: like US. That is a statistic I would like to see.
1:43
Speaker 3: But I don't know is it encouraging? I'm torn, I'm
1:49
Speaker 3: honestly just torn about it.
1:50
Speaker 2: But why are you torn?
1:52
Speaker 4: Well?
1:52
Speaker 3: Because if it we know that that that's a form
1:56
Speaker 3: of a way to generational wealth right for our communities.
2:01
Speaker 3: That hasn't been nobody, but we know that it is
2:03
Speaker 3: now And obviously what you're doing and everybody is doing
2:05
Speaker 3: in the financial literacy movement talking about it and showing
2:09
Speaker 3: how it can be a builder black for generations out
2:11
Speaker 3: of here, outside of US, one hundred billion is obviously
2:15
Speaker 3: a huge amount. I'm just saying, how much of us
2:18
Speaker 3: are represented in those numbers?
2:20
Speaker 2: Right?
2:20
Speaker 3: So, like, yeah, it's great that people are aware that
2:22
Speaker 3: life insurance can be a building block.
2:24
Speaker 5: Are we aware are we represented inside that billion?
2:30
Speaker 2: That's a big question.
2:33
Speaker 5: Yeah, I mean that's what I'm saying. I'm trying. I don't.
2:35
Speaker 5: I'm conflicted on it. I don't know.
2:41
Speaker 4: To be honest, I haven't done enough research on this topic.
2:45
Speaker 4: So I think it would be a disservice to the audience,
2:48
Speaker 4: myself and this amazing show to give commentary that is
2:52
Speaker 4: not based on fact or research. I know some people
2:56
Speaker 4: think I just rant because you know, I like attention this.
3:01
Speaker 4: This is backed by God and the work that I
3:04
Speaker 4: put in, so I don't betray your point is really interesting.
3:08
Speaker 4: I wonder how much of those payouts or disperse us,
3:11
Speaker 4: Especially from the conversation that we had with Don People's
3:15
Speaker 4: last night, I would estimate probably less.
3:18
Speaker 5: Than fifteen percent.
3:19
Speaker 4: But I do want to give a homework assignment for
3:22
Speaker 4: the money that has been dispersed over the last five
3:24
Speaker 4: years to the audience. How much of that goes to
3:27
Speaker 4: black and brown families? And it's not because we're not applying,
3:31
Speaker 4: because I know a lot of people will say, well,
3:33
Speaker 4: if people apply to get it. I have personally went
3:35
Speaker 4: to situations when family members have poured into a policy
3:39
Speaker 4: for twenty and thirty years and did not get that
3:42
Speaker 4: projected earnings a point supposed to get the death benefit.
3:46
Speaker 4: But I think it would be a disservice to me
3:47
Speaker 4: to speak for this one.
3:49
Speaker 5: You said fifteen percent you think.
3:53
Speaker 4: I mean that.
3:53
Speaker 2: I'm just like that.
3:54
Speaker 3: I mean, well, so the thing about it, that's a
3:56
Speaker 3: high ceiling that that's what I said, so different really quickly,
4:00
Speaker 3: because like, even even when we do have it, I
4:03
Speaker 3: feel like, especially like if people have insurance to their life,
4:06
Speaker 3: insurance to their job, the amount is like so low. Right,
4:10
Speaker 3: Like even when I told people when I was twenty five,
4:13
Speaker 3: like I have a million dollar policy, it was like
4:15
Speaker 3: how did you do that? Like why would you do
4:17
Speaker 3: so much? And I'm like, well, it's for the year
4:19
Speaker 3: is the one I'm going. So the mindset wasn't even there.
4:22
Speaker 3: But I mean this, this guy's the expert. Come on,
4:25
Speaker 3: come on, go crazy.
4:27
Speaker 1: I feel it well, I feel like, yeah, there's two
4:30
Speaker 1: different conversations having happening. If we're taking advantage of it
4:35
Speaker 1: or not, that's a conversation that we we don't know.
4:39
Speaker 2: We'll have to see the numbers.
4:41
Speaker 1: I would suspect that there has been an uptick, but
4:44
Speaker 1: I would think that we're still under insured as a community.
4:47
Speaker 1: I would I would think that we're still under insured.
4:50
Speaker 1: Now that's one conversation. The other conversation is okay, one
4:55
Speaker 1: hundred billion dollars is being paid out. We understand that
4:59
Speaker 1: life insurance is one of the fastest and easiest ways
5:02
Speaker 1: to grow generational wealth because you're pretty much paying for
5:06
Speaker 1: money pinions on a dollar, right, Like, if you have
5:09
Speaker 1: a life insurance policy, it's a million dollar policy. Let's
5:11
Speaker 1: say you've paid one hundred thousand dollars of premium before
5:15
Speaker 1: you die. Then you've purchased one million dollars for one
5:18
Speaker 1: hundred thousand. That's a good deal in anybody's book, right,
5:23
Speaker 1: But it's important to understand the life insurance that you're
5:26
Speaker 1: actually getting and how the process works. So like even
5:29
Speaker 1: when Ian was saying that you know a lot of people,
5:31
Speaker 1: they might have paid into a policy for twenty years
5:34
Speaker 1: or thirty years and then they don't actually get or
5:36
Speaker 1: the policy you know, expires or explodes or different things
5:39
Speaker 1: that they should because not all life insurance is created equal.
5:44
Speaker 1: That's something that's extremely important to understand as well. So
5:47
Speaker 1: when you're buying your life insurance policy, it's important to
5:51
Speaker 1: be educated on what you're purchasing. It's just like anything else,
5:54
Speaker 1: like if you're purchasing a home, or if you're purchasing
5:56
Speaker 1: a car. Every car is not the same, every home
5:59
Speaker 1: is the same. Right, you have to be educated on
6:02
Speaker 1: what you're actually purchasing so you can have the most
6:05
Speaker 1: efficient outcome when it comes to that. So briefly, because
6:10
Speaker 1: I've talked about this a few times, but term insurance
6:14
Speaker 1: very important to understand. That is the lowest costing insurance,
6:20
Speaker 1: lowest premium. It lasts a term, you know, ten to fifteen,
6:23
Speaker 1: twenty year term where you pay a premium, you have
6:26
Speaker 1: a death benefit. Let's say you have a twenty year
6:27
Speaker 1: term policy. Right, you pay a premium for twenty years,
6:30
Speaker 1: and if you pass away before that twenty years is over,
6:34
Speaker 1: then your beneficiary is to get money. Now, the problem
6:38
Speaker 1: with term insurance is that I think like ninety seven
6:41
Speaker 1: percent of term insurance policies don't actually end up getting
6:43
Speaker 1: paid out because most people don't die within the term.
6:48
Speaker 1: So to get insurance, you have to be approved for insurance, right,
6:52
Speaker 1: and there's underwriters, so they're usually not going to approve
6:58
Speaker 1: somebody that has a high probability of dying within a
7:01
Speaker 1: twenty year term. So anybody can die at any point
7:04
Speaker 1: in time, but you go by odds, right, and it's
7:07
Speaker 1: mathematical statistics, so it's like the odds of somebody that's
7:11
Speaker 1: twenty five and they're healthy dying in a twenty y eight
7:16
Speaker 1: next twenty years is relatively low. So now you can
7:20
Speaker 1: afford as an insurance company to give, you know, insurance
7:24
Speaker 1: to a lot of different people, because you know only
7:26
Speaker 1: a few people is actually gonna die and a few
7:28
Speaker 1: people that do die. The other you know, ninety seven
7:32
Speaker 1: percent of people that don't die, those premiums are going
7:34
Speaker 1: to make up for that. But it's still beneficial because
7:39
Speaker 1: some insurance is better than no insurance, and if you
7:42
Speaker 1: don't have a budget for anything else, then term insurance
7:48
Speaker 1: can be a good option. And then you have whole
7:51
Speaker 1: life insurance, which lasts your whole life and it also
7:55
Speaker 1: builds cash value. The cash is money that you can
7:59
Speaker 1: actually use while you're alive. Now, a lot of people
8:03
Speaker 1: have criticized whole life because they say that it's too
8:07
Speaker 1: expensive and they don't want to mix investing with permanent insurance.
8:14
Speaker 1: It's your own personal prerogative on that. There's pros and
8:16
Speaker 1: cons for it, but the general idea of it is
8:21
Speaker 1: that it lasts your whole life. But there is a
8:23
Speaker 1: hybrid approach guaranteed protection universal life. We've talked about this
8:29
Speaker 1: EIO University alone a lot where this is a pretty
8:33
Speaker 1: much like a.
8:33
Speaker 2: Lifelong term policy.
8:35
Speaker 1: So you're paying premiums and as long as you pay
8:38
Speaker 1: a premium, you have a death benefit. So that's extremely
8:41
Speaker 1: beneficial because now if you don't want to mix investing
8:47
Speaker 1: with insurance and you just want, you know, the clean cut,
8:53
Speaker 1: just whatever I pay for I'm going to get, you know,
8:56
Speaker 1: if I die, my family gets money, then that's that's
9:00
Speaker 1: an option. And the premiums are less than whole life insurance,
9:03
Speaker 1: but they're more in term, so you kind of get
9:06
Speaker 1: in the middle ground for that. Now, where people come
9:09
Speaker 1: into problems with their policy a lot of times where
9:12
Speaker 1: they don't fully understand it is universal life policy, index
9:16
Speaker 1: universal life policy, and variable universal life policy. This is
9:21
Speaker 1: life insurance that's tied to the stock market. Now, this
9:25
Speaker 1: is where it kind of becomes a little tricky because
9:28
Speaker 1: there's a lot of variables that go into play. So
9:30
Speaker 1: this is a hybrid type of insurance policy where you're
9:33
Speaker 1: actually mixing insurance with investing. The problem with this is
9:38
Speaker 1: that if you don't fully understand it, and in times
9:41
Speaker 1: like even now when the stock market is down. Now,
9:45
Speaker 1: that can draw all your cash value and negatively affect
9:49
Speaker 1: your insurance policy. So this is something that you have
9:53
Speaker 1: to be extremely educated on. If you're going to mix
9:55
Speaker 1: the life insurance with investing, you have to know how
10:00
Speaker 1: much money you're putting in. You really want to overfund
10:03
Speaker 1: a policy in that scenario to make up for any
10:05
Speaker 1: down years in the stock market, and you have to
10:07
Speaker 1: be careful when you take money out. So, like I said,
10:12
Speaker 1: I can go on for this for a long time,
10:13
Speaker 1: but I.
10:14
Speaker 4: Just wanted to choose cool questions for you. I'm going
10:16
Speaker 4: to cut you off. I want you to finish project
10:18
Speaker 4: before we go to the next one. I do have
10:19
Speaker 4: two cool questions for you that I think you got. Yeah,
10:23
Speaker 4: if you let's say a person is making one hundred
10:25
Speaker 4: thousand dollars a year, what is the multiple that they
10:29
Speaker 4: should have for the depth that if it won't pass?
10:33
Speaker 1: So yeah, good question. And you know, of course it
10:36
Speaker 1: goes by like if you have a family or house.
10:38
Speaker 1: But rule of thumb is that you should always have
10:40
Speaker 1: probably ten times your income. So if you're making one
10:42
Speaker 1: hundred thousand dollars a year, you should have at least
10:44
Speaker 1: a minimum of one million dollars life insurance policy. You
10:48
Speaker 1: might need more, like I said, if you have kids,
10:50
Speaker 1: if you have a mortgage, you might even need two
10:52
Speaker 1: million or two point five million, But at the very
10:54
Speaker 1: least you need ten times your your income. That's like,
10:59
Speaker 1: you know, and that might seem like a lot, but
11:04
Speaker 1: it's really not so if you think about it from
11:06
Speaker 1: a standpoint of all, Right, let's take a million dollar policy,
11:09
Speaker 1: right and let's say you're making Let's say you're even
11:14
Speaker 1: making fifty thousand dollars a year, so we'll do twenty
11:16
Speaker 1: times your incomefidence area. Let's say you're making fifty thousand
11:20
Speaker 1: dollars a year, right now, you have a million dollar policy.
11:25
Speaker 1: So what happens is that when you die, your beneficiaries
11:30
Speaker 1: have an option. Usually, and this is why it's important
11:33
Speaker 1: to education your beneficiaries as well. But your beneficiaries usually
11:36
Speaker 1: have an option where they can take a lump sum,
11:39
Speaker 1: or they can take it's kind of like a checkbook
11:43
Speaker 1: with the insurance company or send them a checkbook, and
11:45
Speaker 1: they can just draw off of the insurance policy whenever
11:48
Speaker 1: they need the money. But let's say that they actually
11:50
Speaker 1: just take the lump sum of one million dollars, the
11:53
Speaker 1: million dollars is going to be a tax free million
11:56
Speaker 1: that's going to be to your family nine times out
11:58
Speaker 1: of ten, so you get a million dollar dollars. So now,
12:01
Speaker 1: the worst thing that you can do is just give
12:04
Speaker 1: somebody a million dollars with no plan, because we know
12:07
Speaker 1: that they're going to blow that million dollars very very easily.
12:10
Speaker 2: Right.
12:10
Speaker 1: So now, and this is what storm lee or was
12:12
Speaker 1: talking about. If you set the million dollars up where
12:14
Speaker 1: you can set it up in the trust, or even
12:16
Speaker 1: if you don't set it up in the trust, you
12:17
Speaker 1: could just give them directions on how to actually invest it.
12:19
Speaker 1: And let's say that they just invest the money in
12:22
Speaker 1: long term Conservative index fund, right, and they're drawing Let's
12:27
Speaker 1: say they draw five percent off of that. Why do
12:32
Speaker 1: I say five percent because that the Monte Carlo stimulation
12:37
Speaker 1: factor is that if you draw a five percent over
12:40
Speaker 1: the court of time, then you'll never run out of money.
12:43
Speaker 1: That's like a retirement formula. So if you take five
12:46
Speaker 1: percent from a million, that is fifty thousand dollars, right,
12:50
Speaker 1: So that's really replacing your income in that scenario. So
12:54
Speaker 1: when you look at it from that standpoint, if you
12:56
Speaker 1: look at okay, even if you go higher, you'll say,
12:59
Speaker 1: even if you take seven percent off of every single year,
13:01
Speaker 1: every year, you're taking seven percent off, and that's higher
13:04
Speaker 1: for people that's taking money from their accounts. Now you
13:08
Speaker 1: have seventy thousand dollars a year. Still, that's still it
13:13
Speaker 1: doesn't seem like that much money, right. You're just replacing
13:16
Speaker 1: your income pretty much. So it's not like you're so
13:19
Speaker 1: if you're making one hundred thousand dollars a year, you're
13:21
Speaker 1: probably walking away with sixty five thousand dollars. So if
13:26
Speaker 1: you have a million dollar life insurance policy and you're
13:28
Speaker 1: joining seven seven percent seventy thousand, you're pretty much just
13:32
Speaker 1: replacing your income at that point in time. So this
13:34
Speaker 1: is why it's beneficial to have more than And you
13:38
Speaker 1: got to realize too, if you're making one hundred thousand dollars,
13:40
Speaker 1: then you have a one hundred thousand dollars policy. I
13:42
Speaker 1: mean that's just one year. Like you might live for
13:45
Speaker 1: what your family's gonna need money for twenty years. Your
13:48
Speaker 1: family gonna need money for thirty fifteen years. So it's
13:50
Speaker 1: important to think bigger. So that was kind of a
13:53
Speaker 1: long answer to the question, but I just want to raction.
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Speaker 1: Because I know if I just say, like you need
16:48
Speaker 1: a million dollars worth of insurance, people like I don't
16:51
Speaker 1: need a million dollars, Like I don't even have a
16:53
Speaker 1: million dollars.
16:54
Speaker 2: Why would I need a million dollars?
16:55
Speaker 1: Well, eight, that's not the best way to think about it,
16:57
Speaker 1: because you want to leave more money than you have.
17:00
Speaker 1: But also just from a pure practical standpoint of replacing
17:04
Speaker 1: your income, because that's what life insurance is for, You're
17:07
Speaker 1: going to need a bigger number to replace what you're
17:09
Speaker 1: currently living on.
17:11
Speaker 3: Planning for the future because you're going to be older
17:13
Speaker 3: a lot longer than you're gonna be younger. But I'll
17:15
Speaker 3: ask you this based on your expertise in the field
17:19
Speaker 3: and being in the field for over thirteen years. When
17:21
Speaker 3: you see an article like that, seeing one hundred billion
17:24
Speaker 3: is paid out, I think they said in the article
17:28
Speaker 3: like forty six million policies were sold in twenty twenty one,
17:33
Speaker 3: which is a six percent increase. However, the actual coverage
17:36
Speaker 3: amount has gone down, so like people are getting policies
17:39
Speaker 3: that actually less, which is kind of what I was thinking, like, yes,
17:42
Speaker 3: are we involved, what type of policies are we getting
17:45
Speaker 3: obviously to whole life in terms all those but the
17:48
Speaker 3: amounts are going down I think like one and a
17:50
Speaker 3: half percent.
17:51
Speaker 5: So what does that say to you when you look
17:54
Speaker 5: at that?
17:56
Speaker 2: What's it again?
17:57
Speaker 3: Like reframing question, so pretty much seeing that, seeing these
18:01
Speaker 3: statistics right and knowing that more people obviously are you
18:04
Speaker 3: looking at it? Is it a courage encouraging sign or
18:07
Speaker 3: like all right, you know what? People still don't get it.
18:09
Speaker 3: These numbers should be higher.
18:11
Speaker 1: Well I don't know if they should be higher, because
18:14
Speaker 1: I mean, one hundred billion dollars is a lot of money,
18:17
Speaker 1: so and it's an all time record, So I think
18:20
Speaker 1: that people are but also we have to understand that
18:24
Speaker 1: people are dying too. I think this is like one
18:27
Speaker 1: of the first years where the projected life expectancy has
18:31
Speaker 1: actually decreased a little bit. So you know, you got COVID,
18:35
Speaker 1: you got but outside of COVID, right, you have just
18:38
Speaker 1: unhealthy lifestyle for Americans, period, high blood and this is
18:42
Speaker 1: this is something that's extremely important. Everything ties in together.
18:46
Speaker 1: So when we talk about finance, you have to talk
18:49
Speaker 1: about health because the two go together, and especially in
18:53
Speaker 1: life insurance conversation, especially with black people. So black people
18:58
Speaker 1: traditionally have had at the times getting life insurance and
19:02
Speaker 1: have had higher rates. One of the reasons for that
19:05
Speaker 1: is because of their medical state. So black people on
19:09
Speaker 1: average have diabetes at a higher rate than the regular population,
19:13
Speaker 1: have higher cholesterol at a higher rate than the regular population,
19:17
Speaker 1: have high blood pressure at the high at a higher
19:19
Speaker 1: rate than the regular population, and are over are overweight
19:23
Speaker 1: more than the regular population. This is something that is
19:28
Speaker 1: extremely detrimental to not only your physical you know, situation,
19:33
Speaker 1: but also for your economic situation because now that's going
19:37
Speaker 1: to determine if you can get life insurance, if your
19:39
Speaker 1: life insurance policy is going to be higher. So that's
19:43
Speaker 1: part of the conversation as well. And as far as
19:47
Speaker 1: you know, people dying, so when you're planning your financial plan,
19:53
Speaker 1: you have to you have to have your life in order,
19:56
Speaker 1: and you have to you have to be in shape,
19:58
Speaker 1: you have to, you know, take care of yourself. You
20:00
Speaker 1: have to eat good. These are all things that you
20:02
Speaker 1: know go hand in hand. Your physical health and your
20:05
Speaker 1: financial health are usually related. I learned this early on
20:08
Speaker 1: when I was first started working in finance. Most successful
20:11
Speaker 1: CEOs are in shape. Of course, there's always going to
20:15
Speaker 1: be exceptions to the rule, I get it. But if
20:17
Speaker 1: you look at if you take a survey, very rarely
20:22
Speaker 1: do you see a successful CEO not in shape. The
20:26
Speaker 1: two go hand in hand, right, disciplined exactly. So this
20:31
Speaker 1: is something that's extremely important to talk about because you know,
20:36
Speaker 1: if we're dying, that's bad, but if we're dying and
20:40
Speaker 1: not even having any life insurance, that's even worse.
20:43
Speaker 3: Yeah, and that's mostly I mean, for a long time
20:46
Speaker 3: that was the situation with dying with nothing and leaving
20:49
Speaker 3: Like you used to say this to I remember being
20:52
Speaker 3: here on the Saturday, cause it'd be like, not only
20:55
Speaker 3: are you leaving nothing, but you're actually leaving debt because
20:57
Speaker 3: the people who are left behind now have to pay
20:59
Speaker 3: for your funeral rule and they didn't have the money
21:01
Speaker 3: to pay for it, so now they have to figure
21:03
Speaker 3: out how to even afford to bury you. So people,
21:06
Speaker 3: I mean, that's why I said, man, that that that
21:08
Speaker 3: line of planning for the future is so so so vital,
21:12
Speaker 3: especially to our community.
21:13
Speaker 5: We have to look at it.
21:14
Speaker 3: We have to have the Mantranset mind set to change
21:18
Speaker 3: how we view the world and how we view life.
21:20
Speaker 3: I remember just even trying to have a conversation about
21:22
Speaker 3: life insurance to like my coworkers and they'll be like,
21:26
Speaker 3: I'm not thinking about dying, And it's kind of like
21:28
Speaker 3: we have this mindset where it's like, if we get it,
21:30
Speaker 3: we get life insurance waiting, we're waiting to die. It's like, no, no,
21:35
Speaker 3: it's not really. It's just education. That's what it comes
21:39
Speaker 3: down to.
21:39
Speaker 5: Education.
21:40
Speaker 4: And I think it's undeniable that the healthcare space is
21:43
Speaker 4: incredibly important, whether it's on the life insurance side or
21:47
Speaker 4: the market. That's why companies like United Healthcare, Striker, Eli,
21:51
Speaker 4: Lilly are incredibly important. So in some way your portfolio
21:55
Speaker 4: does need to have ten to twenty percent exposure for you.
22:00
Speaker 4: They get paid throughout your life or post life. So
22:03
Speaker 4: please write down what percentage of your capital is going
22:07
Speaker 4: to go to life insurance and what percentage is going
22:10
Speaker 4: to go to the healthcare sector. You cannot avoid that
22:15
Speaker 4: sector at all. But I will say our physical ailments
22:19
Speaker 4: and diseases that are problematic in our community are placed
22:24
Speaker 4: upon us, not because we are collectively lazy or dog.
22:30
Speaker 1: That's true, but then also but also we have to
22:33
Speaker 1: there's a certain level of accountability that has to be
22:35
Speaker 1: taken because we understand that even traditionally, right we were
22:40
Speaker 1: given diets that were detrimental to us, like all it
22:44
Speaker 1: soul food is pretty much slaveful that you know, pig feet, octails,
22:49
Speaker 1: these are the worst parts of the animal that was
22:52
Speaker 1: thrown away and we made They didn't have an option
22:55
Speaker 1: they had to make out of their situation. But now
22:59
Speaker 1: we're in twenty twenty two. Now we're educated. We don't
23:03
Speaker 1: have to make those same decisions. Now a lot of
23:06
Speaker 1: times it's done by choice. You're if you're educated and
23:11
Speaker 1: you're still making the same decisions about food that slaves made,
23:16
Speaker 1: then you gotta look yourself in the mirror. We know
23:20
Speaker 1: there's liquor stores on every corner, but who told you
23:22
Speaker 1: who made you drink liquor. You know what I'm saying, like,
23:26
Speaker 1: at some point in time, there has to be some
23:29
Speaker 1: level of accountability to stay the odds is always gonna
23:32
Speaker 1: be stacked against us we're black in America.
23:35
Speaker 4: But also it's really going to talk about what our
23:38
Speaker 4: politicians and allow for. So when I go to Mexico,
23:41
Speaker 4: which I can't wait to go and set up by
23:43
Speaker 4: place o God, God, it's good. The preservatives that are
23:47
Speaker 4: in the food that I eat there are not present
23:50
Speaker 4: in the food that I have in the United States.
23:52
Speaker 5: So yes, we have to make.
23:55
Speaker 4: Delicacies out of parts that were not favorable. But if
23:59
Speaker 4: pep See and Hormel and Crafts are putting preservatives and
24:03
Speaker 4: extra sodium into everything that we eat, at what point
24:07
Speaker 4: when we keep those companies responsible and not just say
24:10
Speaker 4: it's the people's job to be responsible for what the
24:14
Speaker 4: corporations are doing based on the lobby and powers to
24:17
Speaker 4: have that the politicians didn't allow.
24:21
Speaker 1: Well, that's true, that definitely the food industry needs to
24:25
Speaker 1: be held accountable. But once again, we live in America.
24:28
Speaker 1: So you know, it's beneficial to keep people sick. They've
24:32
Speaker 1: been hold doctor. True, it's profitable, it's profitable to keep
24:37
Speaker 1: people sick.
24:38
Speaker 2: It's not to keep us on the normally.
24:40
Speaker 4: This is my lane, all right, the situation, I think
24:49
Speaker 4: we can do Barclays next year. I don't want to
24:50
Speaker 4: get our wings clip. I've ever seen what Dope Sick?
24:53
Speaker 3: Is it?
24:54
Speaker 5: That's a great movie.
24:56
Speaker 1: Yeah, I mean, but one of these things where it's
24:58
Speaker 1: like the pharmaceutical industry right where they've made billions of
25:01
Speaker 1: dollars and there's no effort to make people healthy. It's
25:06
Speaker 1: only efforts to put people on medication. So it's like,
25:10
Speaker 1: you know, it's like this. This is a great book
25:12
Speaker 1: called How Not to Die, And the whole point of
25:15
Speaker 1: the book is that I've caused everybody dies, right, But
25:17
Speaker 1: they're saying that ninety five percent of the reasons why
25:19
Speaker 1: people die prematurely are preventable, like most cancers are preventable, right,
25:24
Speaker 1: and most of it is through your diet. So the
25:27
Speaker 1: guy that wrote it was a doctor, and he was
25:29
Speaker 1: saying that he stopped practicing medicine because they were only
25:33
Speaker 1: teaching people. They were only teaching the doctors how to
25:36
Speaker 1: treat patients with medication, but they weren't teaching the doctors
25:40
Speaker 1: how to tell the people not to get sick, Like
25:43
Speaker 1: you know what I'm saying, Like it's like, Okay, you're overweight.
25:45
Speaker 1: Here's blood pressure medication. Why don't you tell them how
25:48
Speaker 1: to lose fifty pounds so they don't so they're not overweight,
25:51
Speaker 1: Like that's probably more beneficial than treating them. And now
25:57
Speaker 1: you got to take this medication for the next thirty years.
25:59
Speaker 3: That goes back to the self accountability part. Like two
26:02
Speaker 3: months ago, I went to the doctor. They said I
26:04
Speaker 3: had high blood pressure. I looked at my wife and
26:07
Speaker 3: I said, oh, time to change my life like that
26:10
Speaker 3: quick and it was like, all right, let's cut out sodium.
26:12
Speaker 5: And that was interesting. We just had this like epiphany.
26:15
Speaker 3: But like we for so long we've been taught that,
26:18
Speaker 3: you know, like yo, that food.
26:20
Speaker 5: Don't have no flavor. Yo, we don't have no flavor.
26:22
Speaker 5: And we looked at.
26:23
Speaker 3: Other coaches in community, like yo, that's that food is bland.
26:26
Speaker 3: That food is bland, no preservatives, and it was like, yeah,
26:31
Speaker 3: the reason it is is because there's no salt added.
26:33
Speaker 3: There's no sodium added into it. And quickly, like I
26:37
Speaker 3: literally watched my like my whole body just change and
26:41
Speaker 3: feel different.
26:41
Speaker 2: How much weight did you lose damn shy do you
26:44
Speaker 2: put me on? Yeah, Like.
26:48
Speaker 3: A matter of like I say, about six weeks, I
26:51
Speaker 3: probably lost like twenty two pounds, crazy, crazy, And it
26:56
Speaker 3: was just it was one of those things where it
26:57
Speaker 3: was like we moved so much and so out all
27:00
Speaker 3: the time, and we eat bad, and when we do eat,
27:04
Speaker 3: it's late, and then we're going to sleep, and so
27:06
Speaker 3: we try to get exercise in and it's like it's
27:08
Speaker 3: just really inconsistent. But one thing that can be consistent
27:11
Speaker 3: is the discipline to say, all right, I'm not doing
27:13
Speaker 3: that right. So like I stopped drinking soda, I stopped
27:17
Speaker 3: eating candy, I'm only having water, I'm only eating like
27:20
Speaker 3: oatmeal for breakfast, and you know what I'm saying, Like
27:23
Speaker 3: these are the Like it was just this mindset change
27:24
Speaker 3: because I'm looking at myself. Like when I saw it
27:27
Speaker 3: the blood pressure red, I was just like nah. And
27:30
Speaker 3: then the doctor came in. He was like, yo, if
27:32
Speaker 3: we continue this for ten years, you won't be here.
27:34
Speaker 3: That's all I needed to hear.
27:35
Speaker 5: I didn't. That was it. That was it.
27:37
Speaker 3: And so my wife was like, look, this is what
27:40
Speaker 3: we're doing. I'm like, bet, let's do it. So yeah, man,
27:44
Speaker 3: it goes back to that the education around it and
27:47
Speaker 3: having self accountability to say, like I'm willing to stop
27:50
Speaker 3: this is it worth me being here for my kids?
27:54
Speaker 5: That was it.
27:55
Speaker 4: If you guys need a place to go to have
27:58
Speaker 4: very healthy food, get your tickets from That's that's uk.
28:03
Speaker 5: That ship.
28:06
Speaker 2: Boy. But it was interesting.
28:08
Speaker 4: I was even at a restaurant and I'm like, hey,
28:11
Speaker 4: like what about this is like you Americans are so
28:14
Speaker 4: poisoned you don't even know good food. I'm like, Jill,
28:17
Speaker 4: but we don't have less preservatives than the ones here.
28:22
Speaker 2: But you know, you know what's so crazy.
28:24
Speaker 1: I went to Thailand five years ago, and you know,
28:28
Speaker 1: I was just eating fruit and just the pineapples and
28:32
Speaker 1: every it tastes like I never tasted pineapples before.
28:34
Speaker 2: But I realized that's because that was like real pineapps.
28:37
Speaker 2: I had.
28:37
Speaker 1: I had a milkshake and it tore my stomach up
28:39
Speaker 1: because that was like real milk. Like, so we get
28:43
Speaker 1: so used to the preservatives and artificial flavoring and everything
28:47
Speaker 1: that's in our food. When we go to these other countries,
28:50
Speaker 1: that's like real food. Like even our fruit is not
28:53
Speaker 1: real food. This is why you got to grow your
28:54
Speaker 1: own food. I could have a whole thing about this,
28:57
Speaker 1: but I was gonna say like we would. We was
28:58
Speaker 1: in Abu Dabi. We were sitting and we're like, yo,
29:01
Speaker 1: this food is it? And he was like, Yo.
29:02
Speaker 3: The barriers for us to have food in America are
29:06
Speaker 3: so low that you can put anything in it and
29:08
Speaker 3: it's going to be DEFDA is going to pass Awhayas
29:10
Speaker 3: in other countries and other places, they have to have
29:14
Speaker 3: legitimate food or it can't be served to the public.
29:17
Speaker 3: Not the same here. But we digressed. Health is really healths.
29:22
Speaker 3: I appreciate it. You been glowing looking good.
29:25
Speaker 4: I know you was tired yesterday, but man, you noah,
29:30
Speaker 4: But I do want to give him an ETF really
29:31
Speaker 4: quick for the healthcare space. Please write this down a
29:34
Speaker 4: VHT that is Vanguard's health ETF. If you go back
29:40
Speaker 4: to twenty and seventeen, it was at twenty eight dollars
29:43
Speaker 4: and seventy eight cents and it is now at two
29:45
Speaker 4: hundred and forty eight dollars in thirty five cent. So
29:50
Speaker 4: that's been some nice growth. Twenty twenty was a good
29:52
Speaker 4: time to buy in. I'll give you guys a price.
29:55
Speaker 4: Everybody in Patterson writes this now six will be a
30:01
Speaker 4: good place to enter. It is a little bout in
30:04
Speaker 4: Jersey forever. And then are you listening real two O
30:08
Speaker 4: six ninety and New York, Because you know, I love y'all.
30:11
Speaker 4: You know I just want you to give me that
30:13
Speaker 4: that that roud, the loud Harlem energy.
30:18
Speaker 5: I love you, I love your idea.
30:23
Speaker 1: My graduates from my school being forced back drop, back drop,
30:29
Speaker 1: Mike drop, back drop drop