Latest / The Table with Anthony ONeal / If You're 30+ and Haven't Done This, You'll Work Until You Die

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If You're 30+ and Haven't Done This, You'll Work Until You Die · The Table with Anthony ONeal

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[SPEAKER_00]: They say about 254, African-Americans will have zero to negative net worth and simplest terms, pretty much they're saying that we will be in the red.
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[SPEAKER_00]: I've dedicated the last 15 years of my life to help African-Americans and not just African-Americans, but everyone and get out of the red and get into the black.
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[SPEAKER_00]: We're building our community of individuals who want to get out of
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[SPEAKER_00]: and get into the black.
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[SPEAKER_00]: We are almost at a million community members.
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[SPEAKER_00]: who are aligning with that vision with that mission.
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[SPEAKER_00]: But oftentimes, I get messages saying, man, I'm in the community, but then you're not subscribed.
0:42
[SPEAKER_00]: One of the simplest things, and a free thing that you can do to help keep neatness network and the table going is simply hitting that subscribe button.
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[SPEAKER_00]: We are almost at a million subscribers.
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[SPEAKER_00]: At the time of recording this, we're at 980,000 to 20,000 more.
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[SPEAKER_00]: And then I'm simply and super excited.
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[SPEAKER_00]: that you have subscribe.
1:01
[SPEAKER_00]: Thank you for being a part of this community.
1:03
[SPEAKER_00]: It's a lot of great things going, but if you have it, can you do me a favor and hit that subscribe button and join this amazing community of people?
1:12
[SPEAKER_00]: That by 254, they don't want to be a part of that step.
1:15
[SPEAKER_00]: They want to be.
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[SPEAKER_00]: amongst the individuals who are consumer debt-free, building well, passing down legacy, and enjoying their life.
1:24
[SPEAKER_00]: Do me a favor before we get into today's show.
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[SPEAKER_00]: Hit that subscribe button and share today's show.
1:30
[SPEAKER_00]: Hey, thank you.
1:31
[SPEAKER_00]: Let's get to it.
1:32
[SPEAKER_00]: If you're watching this video right now, today's show.
1:36
[SPEAKER_00]: So it's a 74% chance you've made the same financial mistake that's keeping millions of Americans living paycheck to paycheck.
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[SPEAKER_00]: And here's the part that's going to 100% blow your minds.
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[SPEAKER_00]: Did you know that 43% of people who know about this mistake that I'm about to teach on today still haven't done anything to fix it?
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[SPEAKER_00]: family.
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[SPEAKER_00]: I want to ask you up front.
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[SPEAKER_00]: Are you one of them before I even talk about this mistake?
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[SPEAKER_00]: And when I talk about this music, I really want you to be honest because the greatest enemy to our success remember I've been teaching this is our excuse and what's the excuse to overlook the issue that's preventing us from moving forward.
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[SPEAKER_00]: So now before we dive into today's show,
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[SPEAKER_00]: I'm not going to be sugarcoding anything on today's episode.
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[SPEAKER_00]: We are on a mission to get into the black and out of the red.
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[SPEAKER_00]: For new people who maybe just now have joined this show, I'm not saying that this is specifically for black people while I do have a passion for African Americans.
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[SPEAKER_00]: But when I say in the black, that is the new name of our community.
2:53
[SPEAKER_00]: because in the rest simply means that we have a negative network because they are suggesting about 254 that African Americans would have zero to negative network.
3:04
[SPEAKER_00]: And so our new mission, our new community is all about getting out of the negative and into the black, into the positive so that way we can build well.
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[SPEAKER_00]: What I'm about to share with you comes from a recent bank rate survey and the numbers are honestly heartbreaking.
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[SPEAKER_00]: But here's a good news.
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[SPEAKER_00]: If you stick with me for the next few minutes to be exact, give me 25 to 30 minutes.
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[SPEAKER_00]: I'm going to show you exactly how to avoid becoming another statistic.
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[SPEAKER_00]: I am sick and tired of people within my community being in this statistic
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[SPEAKER_00]: So I want to talk about the five financial mistakes, because according to this survey, there are five major financial regrets that are destroying American dreams and man.
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[SPEAKER_00]: When I read these, it hit me hard because I've made about half of these mistakes myself.
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[SPEAKER_00]: and I say y'all I gotta have this conversation with my family and one of the things that I'm really trying to do with this show is make sure that I'm coming to you with actual effects and relating to you with where you currently are.
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[SPEAKER_00]: Here's number one.
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[SPEAKER_00]: Here is mistake number one.
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[SPEAKER_00]: Not saving for retirement.
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[SPEAKER_00]: early enough and early on.
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[SPEAKER_00]: A lot of us within our community hate the word with time and not because I don't really know if I'll ever retire from what I love doing.
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[SPEAKER_00]: But I do want to have myself in a position to where I no longer have to work at all to generate and to produce income.
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[SPEAKER_00]: So we can call that retirement, we can call that, you know, a wealth years, whatever we want to call it, but the number one mistake that a lot of us are making is we're not saving and investing for our future.
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[SPEAKER_00]: 22% of Americans say,
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[SPEAKER_00]: This is their biggest regret.
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[SPEAKER_00]: Listen, the average 401K balance right now is only about $131,700.
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[SPEAKER_00]: The average IRA balance, $127,534.
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[SPEAKER_00]: Family, that's not even close to what you need to retire comfortably.
5:19
[SPEAKER_00]: Here's the things.
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[SPEAKER_00]: Yeah, I'm here's the thing.
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[SPEAKER_00]: You should have one year salary saved by age 30.
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[SPEAKER_00]: And eventually 10 times your year salary by the time of quote unquote retirement, but with the average American making by 67,920 dollars, most people are nowhere near where they need to be.
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[SPEAKER_00]: And if I'm gonna be honest with you on today's show, this used to be me.
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[SPEAKER_00]: If I'm being honest with you, even going even deeper, I was so focused on just getting by, that I wasn't even thinking about my future.
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[SPEAKER_00]: Let me go deeper, because I believe in being vulnerable in this show because no matter what people can clip it and I'm already healed from it.
6:19
[SPEAKER_00]: I mean, I was so focused.
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[SPEAKER_00]: on getting the ladies.
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[SPEAKER_00]: I was so focused on trying to get the the the the the wrong type of woman that honestly I missed out on the right type of woman because I was so focused on things that was pleasing my flesh.
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[SPEAKER_00]: So I will get the money in, but I will go out and spend it on nice things.
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[SPEAKER_00]: Before taking care of my responsibilities, before investing into my 401k, before investing into my business, but before stepping out and doing what God told me to do, I was so focused on, I made a lot of money.
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[SPEAKER_00]: I've been making a lot of money since I was almost 28 years old.
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[SPEAKER_00]: Six figures.
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[SPEAKER_00]: But I was blowing it.
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[SPEAKER_00]: But here's what changed for me.
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[SPEAKER_00]: I remember today I realized I was financially behind.
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[SPEAKER_00]: I was looking at my account balance, and he hit me.
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[SPEAKER_00]: It hit me, dead in my stomach.
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[SPEAKER_00]: That if I kept going the way that I was going, I'll be working until I died.
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[SPEAKER_00]: I want to stress that just a little bit for you.
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[SPEAKER_00]: If I keep going, the way that I was going, I will work until the day the Lord calls me home.
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[SPEAKER_00]: I won't have time to enjoy my nephews and nieces and their children, I won't have time to take my wife.
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[SPEAKER_00]: I get emotional and think about this.
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[SPEAKER_00]: I won't have the capabilities in the time to to be able to take my wife and say, hey, let's go live in Africa for a year, two years.
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[SPEAKER_00]: Let's go live in London for a year to, you know, but where you want to go?
8:03
[SPEAKER_00]: Keys are out, house, your kids are out, house like, man, we got time and we got money.
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[SPEAKER_00]: We don't have to get up every single day in work.
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[SPEAKER_00]: and that hit me right around 30, 31 years old and I was like, yo, I cannot be that guy.
8:20
[SPEAKER_00]: At 50, 55 years old to where I have to get up.
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[SPEAKER_00]: You will not be the guy Anthony where you have to drive for Uber because you didn't make the wise decisions when you were younger.
8:33
[SPEAKER_00]: That is when I knew something had to change.
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[SPEAKER_00]: So I started sitting down with a financial advisor.
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[SPEAKER_00]: I started investing into apps like Moomu as a matter of fact, we're gonna put that up here right now because right now if you invest into Moomu, they're gonna give you up to $1,000 with a Nvidia stock.
8:55
[SPEAKER_00]: Open up in the account for the $100 they're gonna give you something I don't know how much free stock in the video But if you can do anything between the hundreds with thousands of five thousand you name it
9:05
[SPEAKER_00]: I started investing into the stock market because I realized, ooh, right this down, man, if we can put this on the screen and put this on the screen, but average people exchange time for money.
9:19
[SPEAKER_00]: But average above average people are looking at the situation.
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[SPEAKER_00]: Okay, cool, I'm going to exchange time for money, but I'm going to figure out how to eventually get to where my money can buy back more of my time.
9:34
[SPEAKER_00]: I was just explaining this to my class.
9:36
[SPEAKER_00]: I'm at Virginia Union just the other day.
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[SPEAKER_00]: I said, man, I'm not average.
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[SPEAKER_00]: Yes, at this season of my life, I still do need to have some exchange of time for money, but the philosophy is when I get the money, how do I reposition that money?
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[SPEAKER_00]: At least half of that money to buy back more of my time.
10:05
[SPEAKER_00]: You check out my friends over there and go to www.amptonill.com for us to ask move move.
10:09
[SPEAKER_00]: Get some of this free stock, start investing, start working the stock market.
10:14
[SPEAKER_00]: You work too hard to be working for the rest of your life and not enjoy a season of it.
10:21
[SPEAKER_00]: And I refuse to be 55, 60 years old and still got to work as hard as what I am working today.
10:28
[SPEAKER_00]: I'm going to be real with you for a second.
10:31
[SPEAKER_00]: You see, we're living in a world where everybody's got advice about everything, from your finances, to your mental health, even down to your relationships.
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[SPEAKER_00]: But here's the thing, how do you know what actually works specifically for you?
10:46
[SPEAKER_00]: If I'm being vulnerable, I've been there.
10:48
[SPEAKER_00]: Scrolling through in-liss tips and tricks on Instagram and listening to relationships experts who are single on clubhouse,
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[SPEAKER_00]: And when I started, that's why I started therapy with better help with fam that got to be honest.
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[SPEAKER_00]: It was the best decision I ever made.
11:04
[SPEAKER_00]: You see, better help isn't just some app.
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[SPEAKER_00]: They've got over 30,000 licensed professional therapies who actually know what they are doing.
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[SPEAKER_00]: And with a 4.9 out of 5 star rating review from over 1.7 million different people, it's clear that this actually works.
11:22
[SPEAKER_00]: And here's what I love.
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[SPEAKER_00]: You can literally hop on a session from anywhere.
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[SPEAKER_00]: Car, your office, soccer game, wherever you need that support.
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[SPEAKER_00]: And if your therapist isn't the right fit, man, this is amazing.
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[SPEAKER_00]: You can switch with absolutely no drama and absolutely no hassle, whether you're dealing with relationship issues, stress, setting healthy boundaries, or just trying to level up mentally.
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[SPEAKER_00]: Therapy isn't just for people with major trauma.
11:44
[SPEAKER_00]: It's for anyone including yourself who wants to become the best version of themselves, better fathers, wives, partners.
11:52
[SPEAKER_00]: Listen, my listeners get 10% off their first month at betterhelp.com for a sashale.
11:58
[SPEAKER_00]: Again, that's betterhelp.com slash AO.
12:03
[SPEAKER_00]: Family, please.
12:04
[SPEAKER_00]: Do not sleep on your mental health.
12:07
[SPEAKER_00]: You deserve that support.
12:11
[SPEAKER_00]: Excuse me over to Mistake number two.
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[SPEAKER_00]: Taking on too much debt.
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[SPEAKER_00]: And when I say this, listen to me clearly,
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[SPEAKER_00]: Well, that's a too much debt.
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[SPEAKER_00]: I'm talking about, I firmly believe that we should be 100% consumer debt free.
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[SPEAKER_00]: And the only debt that I am okay with is real estate asset debt.
12:35
[SPEAKER_00]: Did you know that 15% of Americans regret this one?
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[SPEAKER_00]: Did you know that the average credit card balance right now was $6,371 at an average interest rate of 20.13%.
12:53
[SPEAKER_00]: What, you're paying 20% interest on McDonald's?
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[SPEAKER_00]: You're paying 20% interest on a vacation.
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[SPEAKER_00]: We're paying 20% interest on liability and not assets.
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[SPEAKER_00]: if you only make the minimum payments at the average interest rate of 20.13% you'll be in debt for more than 18 years and pay thousands, not hundreds, not 20s.
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[SPEAKER_00]: You will pay thousands more in interest.
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[SPEAKER_00]: Family, that is not living, that is surviving.
13:41
[SPEAKER_00]: That is not thriving, that is living paycheck to paycheck.
13:46
[SPEAKER_00]: Anthony Anthony Anthony I hear you man, but you know, I got to use my credit cards I got to use my credit cards to survive just to pay bills Well while I have sympathy well while I have love for for people that life just hit him out of nowhere I'm not judging I'm not talking to that category people here are the people who I'm talking to you make good money you just have poor decisions
14:17
[SPEAKER_00]: You have a decent salary, you make a good salary, you make a above-avers salary, but you have poor financial decision-making.
14:33
[SPEAKER_00]: And people are crying.
14:37
[SPEAKER_00]: People are upset at Donald Trump.
14:39
[SPEAKER_00]: I'm sorry, excuse me, President Donald Trump.
14:42
[SPEAKER_00]: I still got a push from respect to that man's name, because he is our president.
14:46
[SPEAKER_00]: While I disagree with a lot of things that he says and he does, I still honor and respect the chair of the president.
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[SPEAKER_00]: President Donald Trump is not the reason why you're broke.
15:01
[SPEAKER_00]: President Donald Trump, the White House, the government is not the reason why you're struggling with money.
15:07
[SPEAKER_00]: Now, Cadet put policies and things in place that can make it harder for us to get there absolutely.
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[SPEAKER_00]: I'm not going to say here in front on that, but what financial decisions are you making?
15:24
[SPEAKER_00]: I'm the guy.
15:26
[SPEAKER_00]: My family doesn't like this about me.
15:28
[SPEAKER_00]: My family doesn't.
15:31
[SPEAKER_00]: If you talk to my mother, my mother would think that I have other family members back.
15:36
[SPEAKER_00]: If you talk to my brother and sister, they'll think I have the other family members back.
15:40
[SPEAKER_00]: Everyone thinks I do not have their back wide because I hope you accountable for the decisions that you make first before we blame someone else.
15:49
[SPEAKER_00]: And when I look in the mirror,
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[SPEAKER_00]: When I look at my bank account, when I look at my budget, when I look at my financial decisions, I'm not blaming her, I'm not blaming him, I'm not blaming her, White House, I'm blaming the person I'm looking at in the mirror.
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[SPEAKER_00]: You made that decision to spend that money over here.
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[SPEAKER_00]: You made the decision to go buy that car.
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[SPEAKER_00]: You made the decision to go impress her, to impress him, to do this, to do that.
16:12
[SPEAKER_00]: Not them!
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[SPEAKER_00]: Before we can blame anybody else, we got to hold out ourselves responsible for the decisions that we made.
16:22
[SPEAKER_00]: And again, I want to rewind.
16:24
[SPEAKER_00]: I am not talking to the people that life hit them.
16:27
[SPEAKER_00]: If you had a death in your family, you had
16:32
[SPEAKER_00]: Um, um, you had a job loss, no, no, no, I'm not talking about those people who have a legit reason to why they went into debt.
16:41
[SPEAKER_00]: And that legit reason, honestly, is a very small number of people.
16:46
[SPEAKER_00]: The majority of us, you're living above your means.
16:49
[SPEAKER_00]: Why in the heck are you paying 55, 60% for a rent and for mortgage payment?
16:55
[SPEAKER_00]: Why in the heck are you buying the 67,000 dollar car?
17:00
[SPEAKER_00]: financial decision making.
17:04
[SPEAKER_00]: Which leads me over to mistake number three because when we make poor decisions financially, right?
17:10
[SPEAKER_00]: This leads us into mistake number three, which I think a lot of us are in debt because we overlooked this one.
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[SPEAKER_00]: Not saving for emergency expenses.
17:20
[SPEAKER_00]: You see, 13% of people regret this.
17:24
[SPEAKER_00]: Now this number actually dropped from 18% per bank rate last year.
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[SPEAKER_00]: More women than men struggle with this.
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[SPEAKER_00]: This is bank rate, this is not Anthony O'Neill.
17:36
[SPEAKER_00]: Don't come from me, ladies.
17:38
[SPEAKER_00]: Do not come from me.
17:40
[SPEAKER_00]: 15% of women say this is their regret compared to 11% of men.
17:45
[SPEAKER_00]: Let me tell you something.
17:49
[SPEAKER_00]: Let me tell you something.
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[SPEAKER_00]: I used to think emergency funds were for other people.
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[SPEAKER_00]: I thought, man, I figured out when something happens.
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[SPEAKER_00]: one of the things that bothers me within a certain part of the church world is that I'll just figure out, God got my back.
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[SPEAKER_00]: I have faith.
18:17
[SPEAKER_00]: What?
18:21
[SPEAKER_00]: It's why a lot of Christians are broke because you have faith.
18:27
[SPEAKER_00]: But what if faith is I'm gonna put money over here because I know that life will happen,
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[SPEAKER_00]: And so my faith is going to activate me to pass up when this store for this, so that way when life happens when God allows life to happen, I am prepared for when it comes.
18:47
[SPEAKER_00]: Because this whole hour figured out when something happens until something did happen, I had to scramble.
18:59
[SPEAKER_00]: That's when I learned.
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[SPEAKER_00]: emergency funds just isn't about money.
19:05
[SPEAKER_00]: It is honestly about a piece of mind.
19:08
[SPEAKER_00]: Your money is sitting in a regular savings making pennies while inflation is eating lunch.
19:15
[SPEAKER_00]: That emergency fund that vacation money you've been stashing away should be working for you not just sitting there.
19:24
[SPEAKER_00]: Here's the thing.
19:25
[SPEAKER_00]: interest rates change every single month and most people have no clue if they're missing out on some serious money.
19:33
[SPEAKER_00]: Every single day we update our list of high yield savings account that are the best so that your money makes more money while you're working while you're sleeping.
19:43
[SPEAKER_00]: We're talking about turning your savings into a wealth building machine.
19:48
[SPEAKER_00]: Don't let your heart earn dollars.
19:50
[SPEAKER_00]: Stay lazy, I'm going to visit anthonyoneo.com for slash savings right now and see which high yield saves account will put the most money back in your pocket today.
20:02
[SPEAKER_00]: Listen, go to anthonyoneo.com for slash savings, choose an account, put your money in there, and I promise you, your future will say, thank you for giving us some more money.
20:14
[SPEAKER_00]: In this season of life, with me being an agjun professor at Virginia and University, that is my way of giving back.
20:22
[SPEAKER_00]: Currently, as of today, Virginia does not pay me to do this.
20:27
[SPEAKER_00]: This is a way of me getting my foot into the door.
20:31
[SPEAKER_00]: I can't really say too much, but as I am evolving and maturing in life,
20:37
[SPEAKER_00]: One of my goals, I'll say it, y'all a family, it's not a secret.
20:42
[SPEAKER_00]: I don't need to keep it a secret, but one of my goals.
20:46
[SPEAKER_00]: is to one day after I get my terminal degree, be a dean at an HBCU, be a dean, helping specifically this younger generation get the financial information.
20:59
[SPEAKER_00]: So I want to be a dean over to school of business to hopefully by the time my turn 50 years old that I am a HBCU president.
21:08
[SPEAKER_00]: So that everyone's been asking me why are you going back to school this because man I take what I do seriously and I want to be impactful This is not about me being famous.
21:18
[SPEAKER_00]: I don't care about fame.
21:20
[SPEAKER_00]: I care about you know Why God put me on this planet and as I am matureing and as I am evolving I understand my assignment even more
21:30
[SPEAKER_00]: And that's why I'm going back and that's why I'm starting my doctorate degree and we'll be revealing where I'm going here in a little bit.
21:37
[SPEAKER_00]: I'm in a couple of months, but why am I saying this?
21:40
[SPEAKER_00]: And this is about savings account.
21:41
[SPEAKER_00]: Well, because I am back in school going from my terminal, my doctorate degree, because I am pretty much a full-time adjunct professor, I've had to scale back on some of the business things.
21:54
[SPEAKER_00]: Watch this.
21:55
[SPEAKER_00]: And because I scale back on some of the business things, I kind of downsize our team and watch this, God naturally downsize our team.
22:03
[SPEAKER_00]: And because we nationally downsize my team, because we nationally lost on a lot of money, still making millions, right?
22:10
[SPEAKER_00]: But we lost out in a lot.
22:13
[SPEAKER_00]: But the reason I have peace is because my emergency savings fund is full.
22:20
[SPEAKER_00]: to where I know if life happened, I can survive and live for a year.
22:24
[SPEAKER_00]: So I walk around with a piece of mine.
22:27
[SPEAKER_00]: I drive back and forth between DC to Richmond, Virginia, Monday and Wednesday's teaching.
22:32
[SPEAKER_00]: I have a level of peace because watching my money is sitting in a savings account that's given me a 4% to 5% APY annual percentage throughout the year.
22:45
[SPEAKER_00]: So, throughout the year, I'm getting an extra 4% of my money for sitting it there, rather than letting it sit inside of a regular same's account, which, which, which, which, put this up on the screen for people, I'm just giving you all this information.
22:58
[SPEAKER_00]: It's coming to the top of my head, it just rates change monthly.
23:03
[SPEAKER_00]: And so what I've done is I have a software that every single day, we update what the annual interest rate is when it comes to a high yield savings account.
23:16
[SPEAKER_00]: So I will always give you the top three to five high yield savings accounts on there.
23:23
[SPEAKER_00]: And so I want you to go to Anthony on nil.com for slash savings.
23:27
[SPEAKER_00]: And if you're saying, no, and Anthony, I got to get better with this.
23:29
[SPEAKER_00]: I need to start setting aside, you know, $1,000, $5,000, then I need you to click on that account right now.
23:36
[SPEAKER_00]: Go over there.
23:37
[SPEAKER_00]: Just check it out.
23:38
[SPEAKER_00]: And compare it.
23:39
[SPEAKER_00]: If you're paying 0.0, if you're getting paid 0.02% interest on your savings account, and we can get you 4% 5% 3.8% why not?
23:50
[SPEAKER_00]: Hey, you can click on this thing and see what so far I can pair with others, but I love so far because when you open up a so far savings account, they're not only going to give you a 4% with their premium high-yield savings account, but they're going to also give you $300 to go towards your emergency savings funds.
24:07
[SPEAKER_00]: So this is why I'm like, yo wait a minute, this is free money.
24:10
[SPEAKER_00]: So again, go to Anthony on nil.com for slash savings and do not be a part of the stack that people watch this 48% of individuals who make a buff $100,000.
24:31
[SPEAKER_00]: can't even afford a thousand dollar emergency fund.
24:33
[SPEAKER_00]: Why says, the two percent of them are living paycheck to paycheck.
24:45
[SPEAKER_00]: It's not good.
24:47
[SPEAKER_00]: But those same people they driving BMW from Mercedes S class Mercedes G wagons pulling up to a nice high-rise condo, but don't have your.
25:02
[SPEAKER_00]: priorities, check.
25:05
[SPEAKER_00]: Mistake number four, that I believe the majority of us watching is today.
25:13
[SPEAKER_00]: This is the mistake that we've all made.
25:16
[SPEAKER_00]: Mistake number four are student loans.
25:23
[SPEAKER_00]: 5% of people regret taking on too much student loan debt.
25:28
[SPEAKER_00]: And this might seem small, but for those dealing with it, it's crushing their dreams of home ownership and building wealth.
25:38
[SPEAKER_00]: I'm back in school, man, and I'm teaching consumer economics and financial literacy 101.
25:43
[SPEAKER_00]: And I asked my students how many of you all to hear our borrowing money to go to school,
25:55
[SPEAKER_00]: I'll say about 95% of them raise their hand.
25:57
[SPEAKER_00]: The 5% did not raise their hand.
26:00
[SPEAKER_00]: The majority of them were on a athletic scholarship.
26:04
[SPEAKER_00]: And I think maybe one or two of them was on an academic scholarship.
26:09
[SPEAKER_00]: But the majority of them are clash on raise their hands.
26:14
[SPEAKER_00]: I told him, I said, hey man, I'm the guy that wrote the book called Dead 3-Degrees.
26:17
[SPEAKER_00]: How to go to school without ink, without borrowing any money.
26:21
[SPEAKER_00]: Every time I have a new set of students, I give them a copy of that book.
26:26
[SPEAKER_00]: And I tell them, I tell them, I'm like, hey, you're already here.
26:31
[SPEAKER_00]: You've already met the decision.
26:33
[SPEAKER_00]: I do not want you to drop out of school.
26:36
[SPEAKER_00]: But I want you to think about this.
26:38
[SPEAKER_00]: You're going to graduate because we are a private HBCU.
26:41
[SPEAKER_00]: So you're going to graduate with about 100 and something $1,000 a single loan debt.
26:46
[SPEAKER_00]: Figure out how you can get that to about 60 to 70,000.
26:48
[SPEAKER_00]: What does it mean?
26:53
[SPEAKER_00]: Do not borrow as much as you can.
26:56
[SPEAKER_00]: Only borrow as much as you need because you've already made this decision.
27:02
[SPEAKER_00]: And when I started explaining to them like, hey, this is what happens with student loans.
27:05
[SPEAKER_00]: It takes the average person about 20 years to pay back those student loans.
27:09
[SPEAKER_00]: You'll be 45, 50 years old.
27:12
[SPEAKER_00]: Just pay back your degree.
27:16
[SPEAKER_00]: And you'll pay more for the degree than what you honestly paid the school for the degree.
27:22
[SPEAKER_00]: And it feels good to see their eyes open, to see their eyes are okay, wait.
27:27
[SPEAKER_00]: Just because they're giving me a refund check of $7,200, I only needed $2300 to pay for school.
27:30
[SPEAKER_00]: Okay, I'm only gonna just take that $2300, and I'm just gonna go work so I can pay for food.
27:41
[SPEAKER_00]: It clicks, I'm getting emails from my students from semesters ago, and thank you Anthony for doing it, because I'm seeing the difference of what I've been borrowing before taking your class.
27:55
[SPEAKER_00]: Which leads me to mistake number five, that I believe a lot of people do not do.
28:05
[SPEAKER_00]: And this is why.
28:10
[SPEAKER_00]: I'm a professor.
28:10
[SPEAKER_00]: This is why I want to be a dean.
28:13
[SPEAKER_00]: This is why I want to be an HBCU president.
28:16
[SPEAKER_00]: This is why I want to be an every-terred church.
28:19
[SPEAKER_00]: Teaching is platform.
28:20
[SPEAKER_00]: This is why I'm going here every Monday and Wednesdays dropping the show because the state number five is not investing in financial education.
28:32
[SPEAKER_00]: Now this one was not directly in the survey, but it's the root of all of the others.
28:39
[SPEAKER_00]: If you don't know how many works, if you don't understand how to play the game of money, you're going to make these mistakes.
28:57
[SPEAKER_00]: If you're not taking a time to get up every single day and to learn something about money,
29:06
[SPEAKER_00]: But you can get up every single day and see what the shape room was talking about.
29:10
[SPEAKER_00]: See what the spiritual word is talking about.
29:12
[SPEAKER_00]: See what's popping on social media.
29:14
[SPEAKER_00]: To see who she's dating, to see who he's dating.
29:17
[SPEAKER_00]: Man, one of my friends just got proposed.
29:20
[SPEAKER_00]: And he just put a picture of the hand of his fiance.
29:25
[SPEAKER_00]: And I've had so many of my friends.
29:28
[SPEAKER_00]: I would say specifically, I say this respectfully, lady friends.
29:32
[SPEAKER_00]: Um, uh, it texted me and called me.
29:36
[SPEAKER_00]: Like, you know, man, I zoomed in on the hand and I saw this crinkle on this hand on this finger right here.
29:42
[SPEAKER_00]: And I was going through his friends and I found, uh, two ladies with these, like, which one is it?
29:47
[SPEAKER_00]: Is it her?
29:47
[SPEAKER_00]: Is it her?
29:48
[SPEAKER_00]: Or none of them would say, man, I, I think I found the person who he's talking about.
29:52
[SPEAKER_00]: I think it's her.
29:53
[SPEAKER_00]: I'm like, dang.
29:55
[SPEAKER_00]: If you all will put that much information into finding out information to change your life, where the then finding out information about someone's else's life, you will be wealthier.
30:08
[SPEAKER_00]: You will be out of debt.
30:10
[SPEAKER_00]: but we channel our energy, we channel our creativity into things that brings no substance into our life.
30:18
[SPEAKER_00]: That brings us things that is only pleases our flesh, but it just doesn't impact our families.
30:25
[SPEAKER_00]: It doesn't change our financial future.
30:28
[SPEAKER_00]: It doesn't do anything.
30:31
[SPEAKER_00]: And sometimes I just scream and I laugh like, why?
30:36
[SPEAKER_00]: You're the same person that's asking me for fun into the bites, but you just spend a whole day looking at this hand, looking at this thing on a body, trying to figure out who it is, and you think you felt the person, what if you channel that same energy into the things that matter?
30:56
[SPEAKER_00]: Let me calm down.
30:59
[SPEAKER_00]: That's a clip right now.
31:07
[SPEAKER_00]: But here's what's really got me about this survey.
31:11
[SPEAKER_00]: 43% of people with financial regrets have it made any progress this year.
31:20
[SPEAKER_00]: That means they know they have a problem, but they're not doing anything about it.
31:29
[SPEAKER_00]: That's not gonna be you.
31:32
[SPEAKER_00]: Not on my watch, not in this community.
31:36
[SPEAKER_00]: So what do we do about it?
31:37
[SPEAKER_00]: I've given you the mistakes, I've outlined the issues.
31:42
[SPEAKER_00]: I'm gonna give you what I call it a financial recovery method.
31:45
[SPEAKER_00]: Five steps that can turn any of these regress around.
31:49
[SPEAKER_00]: Here's step number one, you got a face-to-true.
31:52
[SPEAKER_00]: You got a face-to-true and you got to look at your numbers, your real numbers.
31:58
[SPEAKER_00]: I don't care how scary they are.
32:00
[SPEAKER_00]: I don't care if they make you sick to your stomach.
32:03
[SPEAKER_00]: You can't fix what you do not face.
32:08
[SPEAKER_00]: This means you gotta have a budget.
32:12
[SPEAKER_00]: And we're going to link our budget link.
32:15
[SPEAKER_00]: It's only $9.99 where you can put your numbers on there.
32:20
[SPEAKER_00]: And you can get it all fixed.
32:22
[SPEAKER_00]: It's $9.99.
32:24
[SPEAKER_00]: Come this October, November when we launch officially the end of Black Community.
32:28
[SPEAKER_00]: If you are a part of the community, you'll get this 100% free for just being a part of the community.
32:34
[SPEAKER_00]: But you cannot change something if you don't know what your numbers are.
32:39
[SPEAKER_00]: So I want you to get this, this budgeting Excel sheet and Google sheet, whichever one you want, where you're eventually going to turn into an app and look at your real numbers.
32:50
[SPEAKER_00]: Here's step number two, start where you are.
32:54
[SPEAKER_00]: You don't need to be perfect, all right?
32:57
[SPEAKER_00]: You just need to start.
32:59
[SPEAKER_00]: Even a $25 a month, going into a mobile account is better than zero.
33:06
[SPEAKER_00]: Watch this.
33:08
[SPEAKER_00]: $100 a month, I'm not even going to go there today with you.
33:14
[SPEAKER_00]: A $100 a month, tithing showing God that you are trying is better than showing God that you ain't trying.
33:21
[SPEAKER_00]: I'm not going to go there today.
33:22
[SPEAKER_00]: Step number three.
33:24
[SPEAKER_00]: Automate your mandatory bills.
33:29
[SPEAKER_00]: Set up automatic transfers here.
33:31
[SPEAKER_00]: Your high yo savings.
33:34
[SPEAKER_00]: You should automatically be doing this to your 401k, which should be a Roth 401k with the match.
33:40
[SPEAKER_00]: Make it so you don't have to even think about it.
33:45
[SPEAKER_00]: My financial advisor, she just pulls money out of my business account and out of my personal account, automatically.
33:52
[SPEAKER_00]: Cause I don't even want to think about it.
33:54
[SPEAKER_00]: Before I go out on any date, before I spend money on any of the things that are nice, meant I automatically pay invest into myself,
34:03
[SPEAKER_00]: I pay my tives once a quarter, I'm being honest because of how I get paid for my business, right?
34:11
[SPEAKER_00]: And then I do a big offering at the end of the year.
34:16
[SPEAKER_00]: But yourself, you should automatically be doing these things, especially if you know you're not mature enough, watch this, to do it yourself.
34:26
[SPEAKER_00]: Step four, get the right tools, open that high yo saves account.
34:32
[SPEAKER_00]: I told you earlier, go to anthonyo.com for slash savings and I'm going to give you three to five banks that will give you the best high interest rates.
34:41
[SPEAKER_00]: Stop giving your money to these other banks on a name them who do not care about you enough to take care of you.
34:50
[SPEAKER_00]: These high yo save the counts and and move them and they're giving you the best interest that giving you the best bang for your buck.
34:58
[SPEAKER_00]: So go to Anthony.com for slash savings to get the best to choose from one of the best of high yo saves account.
35:05
[SPEAKER_00]: I personally like so far, but I'm giving you options.
35:08
[SPEAKER_00]: Whatever best fits your knees, man, check out, check them out.
35:12
[SPEAKER_00]: I did also go over to Moomu.
35:13
[SPEAKER_00]: AnthonyNew.com for us at Moomu.
35:15
[SPEAKER_00]: If you're looking for the best software to help you start investing.
35:19
[SPEAKER_00]: And what we're gonna be doing from Moomu here soon is we're gonna do a how to start with Moomu.
35:24
[SPEAKER_00]: So I'm gonna do a whole breakdown of how to invest with Moomu.
35:29
[SPEAKER_00]: All right, 75, keep learning, keep rocking with me.
35:38
[SPEAKER_00]: Monday's and Wednesdays, our show comes on live.
35:43
[SPEAKER_00]: If you go to Anthonynew.com and click join the family, man, every Monday, Wednesday, and Fridays, I'm sending out emails that is knowledge-based.
35:52
[SPEAKER_00]: We're posting blogs and articles on my website and we send out an email about those where we're always educating you on certain things.
35:59
[SPEAKER_00]: And I cannot wait for what we're doing for the end-of-black community.
36:03
[SPEAKER_00]: It's going to be something special that I believe we're going to have 10,000 people a part of this community that is going to help all people
36:12
[SPEAKER_00]: but specifically people of color get out of the red and get into the black.
36:19
[SPEAKER_00]: Listen, every day you wait, it's causing you money and compound interest, but here's the beautiful thing about starting today.
36:30
[SPEAKER_00]: Even if you're 40, and have nothing saved, you can steal, build wealth if you're consistent.
36:44
[SPEAKER_00]: 30% of Americans say cheaper essentials like gas and groceries would improve their financial situation more than anything else.
36:53
[SPEAKER_00]: That tells me people are struggling just to cover the basics, but here's what I want to understand.
37:00
[SPEAKER_00]: Even when money is tight, even when you're choosing between gas and groceries, you can still take small steps toward your financial future.
37:14
[SPEAKER_00]: First, be honest with yourself.
37:16
[SPEAKER_00]: Which of these five mistakes are you making?
37:19
[SPEAKER_00]: I need you to drop a comment if you're watching this on YouTube.
37:21
[SPEAKER_00]: If you listen to this on the podcast, hey, here's shampoo with YouTube or quick in.
37:25
[SPEAKER_00]: Drop a comment or let me know.
37:27
[SPEAKER_00]: my team and I we read through every one second.
37:30
[SPEAKER_00]: If you want the complete system I use to go from financial stress to financial peace, I need to grab my book, take your seat at the table.
37:40
[SPEAKER_00]: I put everything in there from a simple mindset shift that is super important to the money aspect.
37:50
[SPEAKER_00]: And so we're going to have that up on a screen.
37:52
[SPEAKER_00]: Get your copy today.
37:53
[SPEAKER_00]: You can get on Amazon in any major bookstore.
37:55
[SPEAKER_00]: Or you can just go to AnthonyL.com to get the book.
37:58
[SPEAKER_00]: Third, I need you to subscribe to this channel.
38:02
[SPEAKER_00]: If you haven't already listened, we're building a community of people who are serious about changing their financial lives.
38:10
[SPEAKER_00]: I am excited about it.
38:13
[SPEAKER_00]: I'm excited about what God is gonna be doing with us.
38:15
[SPEAKER_00]: We've got a lot of things coming next year.
38:18
[SPEAKER_00]: Even in this year, we're gonna officially launch the communities where we can all get closer and get around a light, minded people.
38:26
[SPEAKER_00]: But next year, we're gonna be launching events, new books, new products, and new local city meetups where we can get our in the Black community closer to where we can hold each other accountable, but I need you to subscribe to the YouTube channel,
38:42
[SPEAKER_00]: and over to an over on podcast.
38:45
[SPEAKER_00]: Yeah, we're about to hit a million subscribers.
38:46
[SPEAKER_00]: Like this, this is just crazy to me that Anthony O'Neill has a million people who trust them on YouTube alone.
38:54
[SPEAKER_00]: We're our total community right now is little over two million who look at all of our channels.
38:59
[SPEAKER_00]: But man, a million people alone on YouTube which is amazing and for those of you who watch it, thank you.
39:06
[SPEAKER_00]: Listen, financial regret doesn't have to be permanent.
39:10
[SPEAKER_00]: You have the power to change your story today.
39:13
[SPEAKER_00]: Don't be part of that 43% who know they have a problem, but do anything, but don't do anything, I would say, about it, take action.
39:24
[SPEAKER_00]: If you just have, well, thank you.
39:26
[SPEAKER_00]: My next today's show, 35, 36 minutes on a diet.
39:30
[SPEAKER_00]: We're trying to get the show shorter, straight to the point with content, so you can get it on with your day.
39:38
[SPEAKER_00]: Go check out another podcast.
39:40
[SPEAKER_00]: But thank you for listening.
39:42
[SPEAKER_00]: Thank you for watching.
39:43
[SPEAKER_00]: I should boy Anthony O'Neill.
39:45
[SPEAKER_00]: Do something.
39:46
[SPEAKER_00]: Do something.
39:47
[SPEAKER_00]: All right, let's see in our next show.
39:49
[SPEAKER_00]: Peace out.