Latest / Glovisor Podcast / Ep. 30: I Lost Everything at 63… Then Built a 7-Figure Portfolio | David Nassief

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Ep. 30: I Lost Everything at 63… Then Built a 7-Figure Portfolio | David Nassief · Glovisor Podcast

• Joe: If you've ever felt behind or believed it was too late to change your financial future, stay with us. This episode will rewrite the way you think. Welcome to the Globisor Podcast, where we explore leadership, communication, business growth, and personal development through real conversations with people that make an impact. At 63, our guest was fired and two years away from running out of money. At 69, he was a millionaire. His secret wasn't luck, timing, or a high paying job. It was a system he created out of desperation. Today, he's breaking down the wealth compass that's helping everyday people accelerate wealth at a fraction of the time. If you want a financial plan that actually works no matter what your age is, this conversation is your turning point. Globiser welcomes David Nysef. David Nassief: Thank you, Joe. I was thrilled to be here with you today. Appreciate the opportunity. Joe: Pleasure. I'm looking forward to the conversation. Take us back to the moment where everything changed. Take us back to what was happening in your life when the financial crisis hit you. David Nassief: Sir. Well, I just got fired after eighteen years with the same company. I was sixty three years old. I would not wish that day in anybody. I did the math show and if we drained all of our savings and all of our retirement, we were scheduled to be broke by sixty-five. And at this point I'm thinking, who is gonna hire me at my age? But that wasn't even the hardest part. The hardest part was driving home thinking, how am I gonna tell my wife Mary? We had been married for thirty years and she did not deserve the mess I just threw our life into. So, anyways, my heart wasn't in it, but I started applying for jobs. You know, I did not want to go back to the corporate world. I just, I, I just that was the last place I wanted to be, but I had to keep a roof over my head. I put food on the table, so I had to work, you know. But you know, as I interviewed companies and I didn't get very many interviews, to be honest with you, most people don't want to even talk to me, but the few I got, it was pretty obvious to me. They didn't say it in these exact words, but basically their message was, no, no, the company that fired you, they did the right thing. You're of no value to us either, you know, and you're washed up at six sixty-three, basically. Very politely, of course. And and I knew that, you know, I I just knew that what I was hearing from them, I was not going to get a job in the corporate world. And so I decided I would hire myself and start my own company. That was not easy to do though, Joey, because I had failed trying to do it twice in my 40s. So I had emotional scars here. But when you're in the when your back's against the wall and you got no other options, you say, okay, I'm gonna give this a try this time. was smarter though, because I learned some very important lessons when I failed the first two times and I wasn't gonna repeat those mistakes again. Anyways, so I got a job as an independent sales agent on straight commission, no salary, no safety net, no benefits whatsoever. First months were brutal cold calls, constant rejection, rookie mistakes. I heard more no's in that couple month period than I think I ever heard in my life. But you know, as I look back on that show, I could I didn't experience at the time, but as I look back on it, I realized something important. All those nos Joe: Ha ha ha. David Nassief: All that rejection I was getting, I believe, was helping me build the mental muscles I needed to punch through that dark period of my life. After 10 months of grinding, and I do mean grinding, I had an incredible milestone. I was suddenly making more money than my good paying six-figure corporate salary. And for a brief moment, I felt like we made it. But then I realized we didn't make nothing because I had been making decent money for 40 years. Look where it got me on the verge of financial collapse. I said I have to learn how to invest. I have to learn how to build wealth. And obviously I was a failure at that too for 40 years, especially when you're making decent money. So I I I didn't have time for a bunch of theories and people on commissions trying to get their cut of my income. So I decided to do it myself. I read 21 books on personal finance, listened to 13 podcasts faithfully, read blogs, newsletters. Every time I got a good idea, I put it on a piece of paper. I kept putting it on this piece of paper. And then I kept refining the paper, I kept refining it down to one piece of paper. And to to I got a set it and forget it approach, because I couldn't be worried about Wall Street. I had a company to try to, you know, keep going and get strong. And so, anyways, after six years, I did what I thought was impossible, from terrified of being broke to a seven-figure portfolio and real financial freedom. Joe, I now know it is never too late to rewrite your story. Because if I can pull that off starting as late as 63, anybody can, I believe, with the right direction. Joe: Wow, what a story. I love it. but you mentioned something there, you know, 30, 40 years to the traditional way of creating wealth. so what made you question that? what made you say, listen, I I I don't have the time for this. David Nassief: Yeah. Well, first of all, it was my results. When you're sixty-three and you've made good money for that most of that 40-year period, well above the average household income. I mean some bad years as everyone does typically, but most of them were really good, and you've got nothing to show for it. The math just tells you you're an idiot when it comes to investing and building wealth. I mean, let's just be honest with you. But you know what helped me a lot, Joe, was the same time I was going through this nightmare of getting fired and trying to whatever recover. I heard a true story that really changed my whole outlook. And basically, I'll share with you very briefly. Scientists at the Max Planck Institute did an experiment. What they did is they put people in the center of a dense German forest and they told them to walk in a straight line to the edge. Now these were confident and capable people, but when the clouds covered the sun and they lost their point of reference, The GPS tracking devices they were wearing showed they were gradually starting to walk in circular motions. Some of them were actually ending up right back where they began. And yet each and every one of them was absolutely convinced they were walking in a perfectly straight line the entire time. Joe, that is me for 40 years. I was working hard, making good money, doing what I thought was the right thing when it came to investing, but literally just walking in a circle. That told me that day when I read that story. I said, that's what I need a compass. Not a f mental and not a metal compass like travelers use, but a one-page compass to keep me focused. Because I'm the kind of guy, Joe, I get distracted easy with shiny objects and hot tips, and I'm off for the races in the wrong direction. I couldn't do that anymore. My runway was too short. My runway was more like a helicopter pad than a runway. I didn't have the time to make those same mistakes I did for 40 years. And so what that did is it gave me the 30,000 foot view that one page to stay on the straight and narrow and not waste time. And make the most of my time and get to the financial dependence in the shortest possible way, but safely. That was really important to me too safely. Joe: And I can't wait to find out about that one pager. so now here you are trying to decide what your future is going to be. You hear this great story, which by the way I love. and I and I think there's so many lessons within that story. did you decide on on a specific investment style, industry? Because very often we have individuals that we talk to in coaching and and that we meet along the way that they have the paralysis by analysis. So how how did you go beyond that point? David Nassief: Yeah. Well basically when I started reading the books, the first couple of books I'll read and I didn't count these as part of the twenty-one, they were worthless. I I could see right through the the conflict of interest they had. They were trying to pitch me on something and and they did it very good and very slickly. I mean, they are very professional. And if I but my antennas weren't up on wait a minute, what what are my Principles on my compass that I got really early is follow the money. In other words, find out how people are getting paid that are giving you advice. Okay, and that really helped open my eyes. So the first two books I just threw away. I mean I didn't even start. But then I started reading books by people who were leaders in the industry, had amassed billions of dollars in their either the money they managed or multi-millions of what they owned. And these are people without conflicts of interest because they weren't pitching anything. There was no pitch. They were just trying to show people the way to do it. And I was pick up ideas from them. And this guru had a really good idea I loved and he had no conflict. This one had, but the funny thing about this show is in these 21 books I read, they all had some really good ideas, but each one of them had their own golden nugget. And that's why I feel I needed up my compass because there was no one place they were all Lodge, you know, where you could go to. But they had some really good stuff. And so that's why I said I need to keep these in one spot so I don't get off track and I can stay focused on the right thing. And that really helped me. let me tell you one thing that really surprises people. And in what the f in that six year period, I doubled my portfolio three times. Now most people in investment say, Dave, that's not possible. The market didn't increase that much. You're either delusional or you're a liar. I'm I'm neither I promise you, I'm neither one of those. But let me just tell you one thing. First of all, I wasn't day trading. I wasn't trained to time the market or chase crypto. I was actually doing the opposite of that. Joe: Ha ha ha. David Nassief: I was doing something so boring it would put you to sleep. And here's the crazy thing, Joe. When the market was down, I was thrilled. When other people were panicking and selling, I was buying more shares at discount prices. My only regret was the market wasn't down more during that six-year period. Because if it was, I'd done even better than I had done. But what really surprised me was the math. There's a thing called the rule of seventy-two. And basically what it says is say you're getting a 10% return on your money. It works for any return, but just say 10%, okay? Then basically Your money will double every 7.2 years, or roughly every 86 months. My first double, once I got the compass in place and started following it, understood what was going on with the market, my first double was just in 30 months. The second one, 13 months. The third one was 29 months, which was an average of 24 months, for which is way less than half the 86 month time period. But my secret wasn't the returns. I was doing three things, I finally figured out. That I hadn't figured out for 40 years. The first thing was when I got paid, I paid myself once a month. I took the money right off the top that it was gonna put away, put aside for for savings investing. Before I paid a single bill, before I it wasn't even in my account for 24 hours, maybe like 10 hours, a few hours that I get it out. I want to get out of there because I didn't want to be tempted. The second thing was I put it in the right kind of investments. And from my research, I found for me was the best was. Low cost index funds. Okay. I only own two of them, Joe. That's all I that's all simple as this. One of them is the total US market. I own every public traded stock in the United States. My other fund is every public traded stock outside the United States. So, Joe, I literally own every publicly traded stock on the planet. For me to go broke to zero, the entire world economic system would have to collapse to nothing. And if that happens, we got bigger problems than money, I think. Okay. So I sleep really good at night. I'm not worried about that. But the third thing I understood, and this is really critical, was I learned to learn, use market volatility to work for me instead of against me. Too many people they invest on their emotions and they tip buy high and sell low, which is the opposite of what you want to do. Once I figured that out, my whole worldview when it comes to money changed. You know, so many people picture yourself going to a department store and seeing a sign 50% off. Would you ever go up to the clerk and say, Hey, I don't want to pay no 50% off. You tell me where the thing's going back to full retail. I only buy full retail. That's why I buy. You wouldn't do that. They think you were crazy. But yet every day, that's what people do in the stock market. my gosh, the market's down 20, 30, 50%. I gotta get my money out, gotta get into cash. No, that's when you want to buy. That's when the deals are. And that's crazy thinking that people think smart when they're in the store buying stuff, but their break gets like reversed when they go into investing. It's just kind of weird how that happens. So basically I was in end of the cycle of buying high and selling low. I was able to build my wealth twice as fast with half the risk compared to how most people do it and compare how I was doing it for forty years. And Joe, that made all the difference. It really did. Joe: collectively, you took all of those twenty-one golden nuggets that you you captured in those books and you wrote it down all in one page. David Nassief: Yeah. Yep. One page and then the reason I wrote the book to go with it is because there's details that you need on some of those points. You just can't, you know, it's good to say the point to keep your mind focused, but then but if you're if you're going through the first time or you're having trouble with some, then then the the book is a reverber. I can I just show you the the one page? Because I'm going to give it to all your listeners for free. So I'm not pitching anything here. Okay. This is the actual compass, okay? And basically on one side of it is the nine trail markers. It'll get you from wherever you are to financial freedom. Okay, and and nine simple steps. And and basically most of the books I read, Joe, they didn't even talk about this first one, career and income success. I guess they assumed that if you were reading their book, you didn't you you were fine with comes or income because you wouldn't be investing if you'd have money. Well, that's not true. There's a lot of people who are underemployed, underappreciated, undervalued in their jobs, and then this is a problem for them. And if they don't get this one's right, this this is why it's my very first step, and it's the first two chapters of my book deal directly with this. But but but but say you're okay with your income. You say, but David, my problem is debt. You know, I I got credit card debt. Well then you jump right to number three and you start from that point. So it's customized to d for that person. The other side is the five North Star principles. This is like the mental guardrails to keep you out of the ditch, keep you out of trouble. Okay. The first one is live on less than your own. If you don't figure that one out, I don't care what any guru tells you, any author tells you, you're never gonna succeed financially if you can't learn that first principle. one last thing I want to tell you I do is every week. Have you ever read a book, Joe? And it was a great book. And you said that's a life-changing idea in that book. I'm gonna use it and make a big difference. And then two years later you run across the idea and you go, yeah, I meant to use that, I kind of forgot about it. You know, well that happened to me all the time. Okay. Well, this stops it. I I take my compass every Friday afternoon at three o'clock, I have a meeting with myself, it's on my calendar, and I go through where I'm at, where I want to go. Joe: Sure. David Nassief: My North Star principles divided one. I remember once I looked at my North Star principles and I realized they made an impulse purchase that week. And it says right there, you gotta wait 24 hours before you make an impulse purchase because half the time in 24 hours you realize I didn't really need that, okay? But here's the point. So I caught myself at that meeting. So the next week and the next week and the next week, I wasn't keep doing those impulse purchases and beating $30,000, $40,000 before you know it. And so that's what it keeps you safe, is what it does. And but here's the nice thing about it. People say, David, okay, I'm on the debt freedom. Joe: Huh. David Nassief: Point. But but but I need more information than a couple lines here. Well, then it says go to chapter four in the book. And what you do is you just take out the book, go to chapter four, and it gives you the details on how to get out of debt, different ways of doing it, ways that fit your personality and your level of debt. And it says this is like the 30,000-foot view. This is the ground game. Turn right at the light, turn right at the stop site. When you combine these two, you have a financial clarity that few people ever get. That I've that I've seen in my experience, anyways. Joe: Sure. So it's not just a book or a page. That's a system that you have. David Nassief: No. It it is, it really is. Joe: so what was the sign that this that you when you knew that this system was gonna work? When when was that moment? David Nassief: This system of mine takes so little time. Once you get it in place, I literally spend five minutes a month on my investments. And what I do is when I get the money, when I pay myself, the minute I do it, I I I take that money and transfer it right to my investment account. that's it. Then I click out and I'm done. Okay, now I can focus on my business and building that. That's a lot more productive for me than you know, doing all these Marticardo simulations and spreadsheets and forecasts. And who has time for that stuff? It's this is a set it and forget it approach. So you can take your life now and focus on the things that are important to you, your business, your career, your family, whatever it is that's important to you, and not be watching Wall Street all the time and listen to their garbage. Cause and when I start seeing My portfolio start building and building and building. I says, this is working like nothing has ever worked for me for 40 years. I gotta tell you one thing that's kind of funny. one year, and it was 2022, the market was down that year over 18%. I was pouring money in every month. I mean, it wasn't anything special. Every month I pour money in the market. Okay. But I mean, I I put over a hundred thousand in the market that year. And you know what my balance was in my portfolio at the end of the year? It was less than the beginning of the year. And I put a hundred thousand in. Now most people be panicked and I'm doing a little jig. I'm thinking, my gosh, look at the deals I got this year. And guess what happened the next year, Joe? That's when my portfolio in 13 months, I think it was, doubled. Because it really, I got so many. My dollar was not buying one share anymore. It was buying more than one share. So when the recovery came, it really kicked in for me like wow, nothing kicked in. And so when you understand that, and it's not this is not intellectually difficult for anybody, once you understand it though, your whole outlook on the market changes. And you have a peace, you you have a calmness in you, and you see the results. And even when it looks like they're bad results, you know they're good results. You're there, it's exactly the system, exactly the the method that you have. design that it is working for you. Joe: some of the listeners are are possibly thinking, well, David, maybe you just timed it right. Maybe you just the market was down, it was on the way, it was the trough, and you just hit it right and here you are telling us this. How can I do that as a regular guy who doesn't really know a lot about the market? David Nassief: here's what I normally hear, Joe, because most of the time during that six year period, the market was up. I'm being honest. I'm not, you know, here to lie or anything that, and play games with people. And most of people say, you were just lucky because the market was up most of time. See, those are the people that have their thinking backwards. And and and just that statement tells me they're thinking that's how I thought for 40 years. I'm not pointing fingers, I'm not saying you're stupid. I'm I'm just saying that's been. Because if you really understood the market and you're building and you're in an accumulation stage, you want the market to be down. You want it to be down as low. I I was when that 2022 year happened and it was down 18%, I was praying for another bad year. And unfortunately, it was a good year the next year. But I was just praying for that. So when people say that, it tells me right away, they don't understand the the reality of the market. I don't care if it's up or down, Joe. I really don't care. I'm making money if it's up. I make a money if it's down. I make a money if it's stagnant. If you have a system that is automated and consistent and you're gonna do well. I don't care what the deal is. can I mention one question that a lot of people tell me? David, yeah, but look at you're making this good money. If I was making money like you, if I was making money like Joe, I could afford to invest. But buddy, I'm living paycheck to paycheck. I don't have that kind of extra money like you guys have Joe: Sure. David Nassief: To put it in the market, I I barely making it. Well, let me tell you why that's a lie. They know it's a lie, because people pro athletes, let's just talk about them for a second here. The average NBA player makes over $10 million a year. I didn't say in his career, Joe, I said in a single year. And yet after five years' retirement, 60% of them are broke, according to the Netflix documentary Broke. And the NFL is even worse. After only two years of retirement, 78% of them are either bankrupt or in serious financial stress. And that's according to Sports Illustrated. Now compare that to Dale Schroeder, a basketball-loving carpenter who made average to below average income his entire career. But he lived on less than he earned, the first principal right here, and he invested the difference wisely. He ended up with a $3 million portfolio. Joe, that's more than most of the MBA and most of the NFL players did and with their tens of millions of dollars. What the compass showed me is a critical principle I didn't understand for 40 years. Making money is different than building wealth. Those pro athletes were amazing at making money. I mean, how many people do you know personally that make over $10 million a year? Probably not a lot of people, okay? But yet, most of them, not all, but most of them, We're terrible at building wealth. Dale Schroeder, on the other hand, let's face it, be frank, he wasn't that good at making money, but he was a master at building wealth. For 40 years, I was pretty good at making money. I made well above average income, but I was terrible at building wealth. So I'm not pointing any fingers at anybody. I I I'm the poster boy for what not to do when it comes to investing for 40 years. Joe: you mentioned about making money on the upside, on the downside. does this apply to every different strategy? Let's just say long game, shorting, any of these, or it d or is it all long game? David Nassief: Well well it's all a long game until you get about five years away from retirement. Okay. W f f from age twenty or twenty-five, whenever you start, to let's say you're gonna retire at sixty five and just pick a number. Okay. When you turn sixty, then the game changes a little bit. But for that period, from twenty to sixty, that forty period, you're praying the market's down. But it's okay if it goes up. I it really it's gonna go up. I matter of fact. Historically, the market is up three quarters of the time and down one quarter of the time. So let's face it, it's gonna but that's okay. Up or down, you're gonna be fine. You're gonna make money, okay? But you make more money when it's down. Okay, but the point is this when you turn 60 or when you're five years away, whether it's whether some people retire early, when you when you're five years away from retirement, that's when you want to start making a slight adjustment in your portfolio allocation and start getting into some bonds to fixed assets. Because what happens is when you start Depending on your portfolio for all of your income or most of it, I should say. Okay. When the market's down, that's when you do not want to be pulling any money out of the market. You want to pull it out of your fixed, because then you're protected. You're not losing a penny. Okay. And when the market's up, that's when you can take it out of the market. So you want that. But when you're not dependent on your portfolio, because you're in the accumulation years, you want to I want I paid all my inequities, and I still do. I'm 72. Okay, so I'm not a little kid. But I'm investing like I'm a 30-year-old, 40-year-old, 50 year old, because why? I love my what I do. I mean, I'm having a blast. My son's joined my company. Last year was a record profit year for us. This year is starting out super strong too. And I just love what I'm doing. So I probably will never retire. Joe: someone picks up your book and they've never, let's just say, ever traded or put any money away, does this work for them? David Nassief: my gosh, that's who the book was written for. Okay, basically for the non-financial person. When I read those 21 books, here's what people most people think when it comes to financial books. give me a break. Financial book, give it to me before I go to bed, it'll put me to sleep. Boring charts and graphs and all these stupid terms, no one even knows what they're talking about. And that's how most people think of it. And that's how I thought when I read those 21 books, Joe, I'll be honest with you, most of them were as boring as heck. Okay, but they had good information. And I and I was so desperate, I stuck through it to get through them. Joe: Yeah. David Nassief: So I get the good information out and pull it out. But when I wrote my own book, I said, I'm doing the opposite of that. I'm gonna make it interesting. I'm gonna make it full of real story, real life stories of me and other people who succeeded and failed both and went to see both ways. And so people can really get it. And it's written more in a story form, is as much as a financial book. Can I just share one quick review I got or read all my reviews? Because I think it makes a point what I'm trying to hear. This is from a clinical psychologist with 25 years' experience. He was facing his own career crisis. He said the one-page wealth compass. Joe: Please. David Nassief: Give him the exact financial hope and practical steps he needed. But here's what I like the most. He ended with this. I couldn't put the book down. That's exactly my what was my goal was make it so interesting that you forget you're reading a financial book and you just feel like you're reading a really interesting book, you know. And so that's what it's about. It's for the non-financial person or the person who hates financial books. This is for you. Now, if you're a financial person, It's the same principles, it's gonna make sense. It'll just be interesting to read and it's still boring to read like too many of the books are. Joe: Sure. So what is one step from your wealth accelerator that anyone can start using today? David Nassief: well, the first thing I would tell people to do, people always say, What's the first thing I do, David? Well, there's no first thing for everybody. It's not one size full. What you do is you want to go down the nine steps and figure out where you're at, and then you start right from there. That's where you start. But let me tell you a common mistake people make, and it's really just too common not to touch on today when we're together. It's people are paying tiny termite size fees that are quietly, they aren't even noticing them. Until they do termite sites destruction on their portfolio. So let me explain what I mean. Say you got two people, both in their 20s, say 25, they're starting out in their career. They both decide to put $25 a week away for investing for the future. Okay, it's pretty modest, $25 a week. Person A puts his money in a low-cost index fund with a 0.03% annual management fee. Person B goes to an advisor who charges a full 1%, which is standard, and they put him in an actively Managed fund with an upfront load of 5.75% and an ongoing management fee of six point uh.66%. Okay. Now let's follow these people for 40 years. They're now 65. Okay. They've been putting $25 a week in their investments. Person A's portfolio is worth $1 million based on historical market returns and the and and and the his contributions every week. Person B, with the exact same contributions, exact same market, has a $400 $570,000. Portfolio. Same contributions, same micro returns. The only difference was the fees. And those fees created a $430,000 difference. And that's assuming, Joe, they never got a raise. If we factored a normal raise, that $430 difference could be close to a million dollar difference, okay, or more. But here's the tragedy of the whole thing. Person B probably feels like I got great service. I love my advisor. He knows my kids' names. We have golf it a couple times. Little did he realize. He did the equivalent of funding someone else's retirement with half of his own money. Now I am not against advisors, but what I am against are products that enrich Wall Street at the expense of their clients' portfolios. And I'm embarrassed to admit this on your show, Joe, but for 40 years I never questioned fees. I thought those were just the rules of the game. Okay, a little did I realize that the rules we don't question can cost us the most. In person B's case. It cost him four hundred and thirty thousand dollars. That's a big chunk of money to take out of your retirement portfolio. Joe: That's a huge difference. Wow. And if you like your your advisor that much, just take them out to lunch. It's it's less costly. David Nassief: Like be a friend. Join us join country club and golf him with a Exactly Joe: So what makes your smart protection fund different than a traditional emergency fund? David Nassief: boy, now we're getting now we're getting into controversy, but that's okay. I like controversy. I first of all, everyone says, well, well, let me tell you, maybe let us talk about something that isn't controversial first. It's the order that you do it. Okay. Here's what most gurus, the especially the most famous ones of all, that we all know their names, they suggest. Get a three to six month emergency fund, which I don't disagree with that. I did it for years and I think it's a smart thing to do. But here's what they say to do it they say do it as soon as you get debt free. Okay, and I agree with that too. But they say, but do it before you even start investing. The first thing you want to do is you want to lock down your safety, get that three to six months emergency fund, then start investing. Well, I I questioned everything when I did my portfolio, I did my compass because I I couldn't afford not to. And I did the math on everything. And here's what I found out. If you're 25 years old and you do that method, and you it takes you a year to get three to six months of emergency fund, which was pretty typical for most people, I think would take them about a year, maybe more in some cases, okay. That means you're out of the market at 25 for a full year. Now you take that money that you dumped all into your emergency fund at 3% interest, okay, for 40 years. All of a sudden, you're out a half million dollars, Joe, when you retire. Because you waited a year at 25 to do this method everyone's talking about. Wait, here's my system on my compass, okay? I agree, get out of debt first, because that's your best investment, getting out of your consumer credit card debts. But then Build start your wealth accumulation and your smart protection fund at the same time. Okay. Now you're not waiting a year, but you're still building your protection fund, but you're not waiting a year and you're not being penalized by a half million dollars because you waited a year. Does that make sense what I'm saying? I mean, when I s when I saw that, I thought a light bulb went off my head. I goes, why are people saying that just because they've been saying it for 40 years? Didn't anyone ever do the math on this thing? You're you're still a safety, you're still building your protection fund, but you're just doing them together. Here's why I say it's not a problem. You just freed up a bunch of cash flow because you're out of debt now. Well, before you raise your standard of living real quick, let's get the mercy fund and investments going. Then once your fund is full, then you can raise your standard of living if you want to do that, okay? Joe: what what would you say to someone who feels way, way behind or it's too late, or another 63-year-old who is in the same situation that you were, what would you say to them now? Because then now you have the beauty of hindsight, right? Now you can look back and say, you know, I could have have done X, Y, and Z. David Nassief: Yeah. Yeah, right. Exactly. Well, I I I just remember that, and you've heard the saying, I'm sure you've mentioned it many times on your show, maybe or other places. You know, the Chinese proverb. The best time to plan to trade was 20 years ago, the second best time is today. I'm saying this, it's never, ever too late. But I'm not gonna get up here and lie to you, Joe. I'm not gonna say everybody in six years is gonna be a millionaire like I was, because that would be a lie. Some people are gonna have more money than I did after six years, and some people will not have seven figure seven-figure portfolio. But I will tell you this, and I can say this with absolute certainty. you will be much better off than if you just kept doing it the broken way that so many people are doing it today. And isn't that an improvement? I mean, isn't it better to to to to be comfortable in your retirement, not to be stressed out? Okay, maybe you're not a millionaire, but you're doing really good, okay? much better. So I say if you're 63 like I was, or you're 53, my gosh, if you're 53, I wish I would have figured this out in fifty three. I mean I'd have another decade of of investments. But but but it's never too late. It really isn't When is it too late to follow correct principles? Would you tell me that? I I don't know there's ever a time that's wrong to follow correct principles. I'm I'm that's my opinion. Joe: Totally agree. So if listeners took just one action in the next twenty four hours to change their financial future, what would it be? David Nassief: It's this simple thing, Joe. And if this is not self-serving because it's for free, okay. Go to my website, onepagewealthcompass.com, download this free one page PDF, look it over and say where am I at right now today, and how do I get to financial freedom? Well, it'll tell you whatever step you're on, and you'll see the steps before that to get to financial freedom. If you do that, that will be the simplest laser most laser-focused approach you can get to get from where you're at to financial freedom. There's no cost or obligation. Go to one pagewealthcompass.com slash free and download it for yourself. Then if you say, David, I love this, I love this, but I'd like more information, then go to Amazon and get the book. It's a very inexpensive paperback, I promise you. This is not expensive at all. And now you have the two together, and my gosh, now you are unstoppable. I believe. I really do believe that. Joe: David, share with us one more time where can people continue this conversation with you? David Nassief: Absolutely. Well I'm on most of the social media. but but the best places really is one pagewealthcompass.com. Because not only will you get the free download, I have a free blog, I have other free information, videos, that kind of thing. And then I'm also on Twitter, I'm on face I'm on Twitter and LinkedIn and TikTok and and also on YouTube, I have YouTube channel too. So any of those places are also fine. Joe: David, thank you so much for joining us today, for sharing your story, because this is this is important. It's it's wonderful when you can meet someone who's been through what we're going through and say, you know, there is light at the end of the tunnel. There is an opportunity. So thank you so much. David Nassief: Thank you, Joe. It's been a pleasure being on the show with you. I appreciate the opportunity. Joe: Welcome. Thanks everyone for listening. If this episode inspired you, share it with someone who needs it. And don't forget to follow Globizer Podcast for more conversations on leadership, communication, resilience, business growth, and personal development. Till the next time.