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Rich People Think Differently About Money… Here’s How | Finance Fridays · Social Proof Podcast

0:00
[SPEAKER_01]: There's a difference between rich and poor.
0:02
[SPEAKER_01]: It seems like there's so many differences.
0:05
[SPEAKER_01]: I'm really curious about the mindset where, you know, how people pick their friends, rich and poor.
0:10
[SPEAKER_01]: There's so many questions that I think if we understand how the type of person we want to be operates and thinks and spends their money in.
0:22
[SPEAKER_01]: how they date.
0:23
[SPEAKER_01]: I think we just started adapting some of this stuff.
0:25
[SPEAKER_01]: So today got a couple friends, finances on a Friday.
0:30
[SPEAKER_01]: We're going to find out the differences in our journeys of life, the differences between rich and poor joy, hunt, what's that?
0:41
[SPEAKER_00]: How are you doing?
0:42
[SPEAKER_00]: I'm incredible.
0:43
[SPEAKER_00]: Welcome back.
0:44
[SPEAKER_00]: Thank you for having me.
0:46
[SPEAKER_01]: Oh, yeah.
0:46
[SPEAKER_01]: This is incredible.
0:47
[SPEAKER_01]: Charles Newton's here.
0:48
[SPEAKER_01]: Yes.
0:49
[SPEAKER_01]: Sir.
0:50
[SPEAKER_01]: Oh, gosh.
0:50
[SPEAKER_01]: This is going to be good, man.
0:51
[SPEAKER_02]: What's up, Dave?
0:52
[SPEAKER_02]: Dave, did you get the bike yet?
0:54
[SPEAKER_02]: Not in the bike.
0:54
[SPEAKER_02]: I don't get the bike.
0:55
[SPEAKER_01]: What are we waiting for, Dave?
0:57
[SPEAKER_01]: I'm going to I've been traveling, but I'm going to go bike shopping give me two weeks Okay, at least get to the store to prepare myself for the 12 pounds down bike Okay, I told you you got to have a $300 bike fitting by the way a bike fitting Yeah, you have to have yeah, you have comforts the most important thing when I'm on a $10,000 bike
1:17
[SPEAKER_01]: You have to be comfortable so I have to pay somebody $300 to hit me like a same company.
1:22
[SPEAKER_02]: You bought the the same story You bought the bike do buy the bike from they're gonna charge you to fit you on the bike You're let legs have to fit your position your posture.
1:33
[SPEAKER_01]: I got one question for joy I'm gonna come back to this question Because I have because this is this is bargain the question for enjoy.
1:41
[SPEAKER_01]: I'm just gonna throw something out here
1:44
[SPEAKER_01]: What is the difference between how a rich woman dates and how a poor woman dates?
1:50
[SPEAKER_01]: Or is there a difference?
1:51
[SPEAKER_02]: Yes, there's a difference.
1:52
[SPEAKER_00]: I think a rich woman is dating based on, do I like the guy?
1:57
[SPEAKER_00]: It doesn't really matter where we're going.
1:58
[SPEAKER_00]: Like we can go ahead.
1:59
[SPEAKER_00]: Hopefully we can go wherever I'm just trying to get to know, do we make we have any any where I think a poor girl's looking for, how can I come up, what can I get?
2:08
[SPEAKER_00]: Oh my gosh, we're not a five to our restaurant.
2:10
[SPEAKER_00]: We're not on the floor.
2:11
[SPEAKER_00]: They're looking more for what I can get versus who the person is.
2:15
[SPEAKER_01]: I would think it be the exact opposite.
2:19
[SPEAKER_01]: I don't, that's not how me or my first date because if you meet somebody and it's the first date and they're like, yo, let's just go to Chipotle.
2:30
[SPEAKER_01]: It's different, it's different.
2:32
[SPEAKER_00]: I'm going to disagree for this reason.
2:34
[SPEAKER_00]: If I like you, I don't care where we're going to.
2:37
[SPEAKER_00]: Every day can't be Chipotle.
2:38
[SPEAKER_01]: I'm not saying every day, but the way a poor person dates,
2:47
[SPEAKER_01]: I don't know, a smoothie carrying, um, that comes at a house and understand both points.
2:55
[SPEAKER_02]: What you're, you're saying poor people, they don't care when they go, they're just happy to date, be on a date, they happen to have a lot on a Friday because the, the brain doesn't even think money.
3:05
[SPEAKER_02]: It thinks person, but when you got bread, there's a thought there, I, I mean, I'm not a rich woman, so I wouldn't know.
3:12
[SPEAKER_02]: I think what joy you say is that poor women want to go eat places they don't normally eat when they go on dates.
3:19
[SPEAKER_02]: Like poor women want to go to STK on the first date.
3:22
[SPEAKER_02]: They want to go to like the the best most expensive places.
3:25
[SPEAKER_00]: They want to have the thing that they don't normally already have.
3:28
[SPEAKER_00]: And so the reason why I took hold of our coffee date wouldn't bother me because I'm not looking for you to go take me anywhere I haven't already been myself So I'm cool with getting coffee to get to know cuz guess what my time is important So if I don't I'm not vibing with you.
3:42
[SPEAKER_00]: I want okay, let me go ahead and leave So I ain't got to waste my time because my time is money So it doesn't matter where we go now.
3:48
[SPEAKER_00]: It's everyday gonna be coffee.
3:49
[SPEAKER_00]: No, eventually we are gonna have to have some nice dates But I think women who have money aren't looking for a come-up
3:57
[SPEAKER_01]: think I figured it out, right on this one this question, poor, you got to start high and then you go low.
4:09
[SPEAKER_01]: You got to start at a nice place, if it eventually, it could just tell her off.
4:16
[SPEAKER_01]: But the other side is, we can start low at coffee, but your expectation is that eventually we're hitting some, you know, we're going to a little trip, well, out of town.
4:27
[SPEAKER_00]: Correct.
4:28
[SPEAKER_00]: Correct.
4:29
[SPEAKER_00]: That's a formula, bro.
4:30
[SPEAKER_02]: I guess.
4:31
[SPEAKER_02]: I think, when I think of Rich and Poor, I think mindset.
4:34
[SPEAKER_01]: Okay, I don't even think before we get there before we get there because we're gonna get there We're going to get there What is the difference between a a rich person and a poor person with a coast of fitness?
4:49
[SPEAKER_02]: Because of fitness I was like that because I was on laughing but Your audience is gonna relate to this all my athletes all my basketball players
4:59
[SPEAKER_02]: those of you that go to LA fitness.
5:03
[SPEAKER_02]: We already got to laugh to the studio.
5:06
[SPEAKER_02]: When there is conflict to be resolved, they get to scrapping.
5:11
[SPEAKER_02]: Rich people go to lifetime fitness.
5:14
[SPEAKER_02]: When there's a conflict to be resolved, they shoot for it and get back to playing.
5:23
[SPEAKER_02]: It's the mindset, rich people have, so rich people understand that your health becomes more important than your wealth once you make it, when you're living check to check all you can think about as money.
5:39
[SPEAKER_02]: When you have money, all you think about is your health and how to preserve and keep it, that's why rich people spend so much time cycling, running, so much money.
5:48
[SPEAKER_02]: You see rich people with the ring on, what is it called?
5:53
[SPEAKER_02]: Or a ring, they got the wristband watch that measures the oxygen, right?
5:58
[SPEAKER_02]: Their investments go into health because they want to preserve the lifestyle that they live in much longer.
6:03
[SPEAKER_02]: When you're poor, week to week, you're thinking check to check.
6:07
[SPEAKER_02]: you don't care about what you eat as much you don't care about where you work out or even if you get to work out.
6:14
[SPEAKER_01]: So the $10,000 bike there's definitely a rich person's exercise.
6:19
[SPEAKER_01]: So rich man sport.
6:22
[SPEAKER_02]: Well no no I'm not going to say this and I'm going to say this specifically for you today.
6:27
[SPEAKER_02]: When you get to your 40s it's the natural trends.
6:31
[SPEAKER_02]: Session into exercise.
6:33
[SPEAKER_02]: Like we can't play basketball as much anymore.
6:35
[SPEAKER_02]: We're going to like ankles, knees, elbows to the face.
6:38
[SPEAKER_02]: You kind of get away from that the soreness it hurts.
6:42
[SPEAKER_02]: Running your body starts to break a little bit if you haven't been running so you kind of taper off from running.
6:48
[SPEAKER_02]: Cycling allows you to move the entire body, breathing, you still get the same mental exercise, you get the dopamine hit when you cycle, and you get the same leg workout.
6:59
[SPEAKER_02]: Scientifically speaking, the stronger our lower body is, the longer we live.
7:07
[SPEAKER_02]: Think of older people when they fall, is when they really start to get hurt and start to get sick, and immobile.
7:14
[SPEAKER_02]: Right?
7:14
[SPEAKER_02]: But if your lower body is strong, you don't fall your legs or stronger.
7:19
[SPEAKER_02]: You don't fall as much.
7:21
[SPEAKER_02]: There's a lot to that scientifically.
7:23
[SPEAKER_02]: Um, estrogen, storage, certain parts of your legs really pour into your health.
7:30
[SPEAKER_02]: And people with stronger legs live longer.
7:32
[SPEAKER_02]: That's why when you start cycling, you're going to see that old man just blast right by you.
7:38
[SPEAKER_02]: And you go, what the hell?
7:40
[SPEAKER_01]: Like I'm telling you Dave guys watch watch and my take away is Poor people call it riding bikes rich people call it Okay, let me give you out a definition real quick of rich and poor So so we're class so we're having the same conversation because some people like all rich or poor is politically incorrect whatever
8:04
[SPEAKER_01]: So rich is you have enough assets, income, and financial security that money gives you options, your investments, or businesses can often produce enough income to support your lifestyle without depending entirely on your labor.
8:18
[SPEAKER_01]: Poor.
8:20
[SPEAKER_01]: You have insufficient income assets or financial resources to reliably meet your needs and you have little financial cushion when something goes wrong.
8:32
[SPEAKER_01]: One important distinction, high income does not automatically be rich and low income does not automatically defy and so what is poor forever.
8:41
[SPEAKER_01]: Wealth is more about what you own, what you owe and can sustain than just what you earn.
8:48
[SPEAKER_01]: I like that.
8:50
[SPEAKER_01]: All right, so when we start talking about the differences between rich and poor, what is the first difference that comes to your mind when it comes to rich and poor?
9:01
[SPEAKER_01]: What starts you joy?
9:03
[SPEAKER_00]: Obviously how they spend their money.
9:04
[SPEAKER_01]: How they spend their money.
9:06
[SPEAKER_01]: Okay.
9:07
[SPEAKER_01]: Tell me more.
9:07
[SPEAKER_00]: So I think rich people are looking more for either investing in them.
9:13
[SPEAKER_00]: So I'm gonna send my money to make me better or in a business, in an asset versus a poor person is what's what can I do right now.
9:24
[SPEAKER_00]: They're always spending where I think we're investing.
9:27
[SPEAKER_00]: Meaning, whatever I put my money in is gonna make me money.
9:30
[SPEAKER_00]: Versus is buying something that maybe look good.
9:33
[SPEAKER_01]: Hmm, okay, what do you say about that, Charles?
9:37
[SPEAKER_02]: that's a good answer.
9:39
[SPEAKER_02]: I agree with that answer.
9:40
[SPEAKER_02]: I would just add one more thing about the thought process.
9:44
[SPEAKER_02]: We hear this a lot, but it really is true.
9:46
[SPEAKER_02]: Poor people think week to week.
9:50
[SPEAKER_02]: Middle-class people may think month to month as far as planning is concerned and rich people
10:01
[SPEAKER_02]: When we think about the wealthy and hearing them talk that they're really not talking about this year's planning.
10:06
[SPEAKER_02]: Whatever year we're in, they're talking about three to five years out.
10:09
[SPEAKER_02]: When we talk about family, they're talking about their kids and their children's children.
10:16
[SPEAKER_02]: And when you're thinking about grandkids, your actions are different.
10:20
[SPEAKER_02]: When you're thinking about your kids' future, your actions are different.
10:24
[SPEAKER_02]: I don't care what I wear, I don't care what I drive, I don't care what I look like half the time.
10:30
[SPEAKER_02]: Because like, all I'm really focusing on is how can I build enough wealth, how can I build enough money, enough assets?
10:38
[SPEAKER_02]: to where my kids and grandkids don't have to start from scratch.
10:43
[SPEAKER_02]: Starting from scratch in today's economy is dangerous.
10:48
[SPEAKER_01]: So, I think you said something really important.
10:53
[SPEAKER_01]: I was having a conversation with Dan Kathy.
10:55
[SPEAKER_01]: We were at Invest Fest and I got a chance to interview Dan Kathy who his dad is the founder of Chick-fil-A, and then he, you know, grew its old billion dollar company.
11:05
[SPEAKER_01]: But Dan was actually talking about his family.
11:10
[SPEAKER_01]: And you know what I will say?
11:11
[SPEAKER_01]: Yeah, well, my cousin or my brother or my grandkids, he was talking about his family in generations.
11:20
[SPEAKER_01]: He said, y'all, some first generation does, there's the second generation.
11:24
[SPEAKER_01]: We're planning second generation for four generations.
11:27
[SPEAKER_01]: The fourth generation, we start them off at the register, working at Chick-fil-A, because they're going to soon be the third generation.
11:35
[SPEAKER_01]: And I was like, I never even thought about my family in generations.
11:40
[SPEAKER_01]: I think about my family as my aunt.
11:42
[SPEAKER_01]: And my aunt.
11:43
[SPEAKER_01]: And my cousin.
11:44
[SPEAKER_01]: Right.
11:44
[SPEAKER_01]: Right.
11:45
[SPEAKER_01]: My niece and nephew, right?
11:46
[SPEAKER_01]: But I think they think about it in a totally different way.
11:50
[SPEAKER_01]: And here's what I was.
11:51
[SPEAKER_01]: was so fascinating about what you said, Joy, and it just brought something to my mind.
11:57
[SPEAKER_01]: Poor people don't mind spending the rest.
12:00
[SPEAKER_01]: It's fascinating how, you know, I'm saying they, but I was there where if I only have $30 left,
12:13
[SPEAKER_01]: I might as well spend a 30.
12:13
[SPEAKER_01]: Right.
12:14
[SPEAKER_01]: You know what I mean?
12:16
[UNKNOWN]: Yeah.
12:17
[SPEAKER_02]: That was so crazy y'all.
12:18
[SPEAKER_01]: A little bit.
12:19
[SPEAKER_01]: Now we've all been there, right?
12:21
[SPEAKER_01]: We've all been there.
12:22
[SPEAKER_02]: It's only 30.
12:23
[SPEAKER_02]: I'll spend the rest, you know why?
12:26
[SPEAKER_02]: You're used to being, I'll say, we were used to being broke.
12:30
[SPEAKER_02]: We started out broke.
12:31
[SPEAKER_02]: We made it broke.
12:33
[SPEAKER_02]: Some of the funnest times of our lives were our childhood when we were broke for sure.
12:37
[SPEAKER_02]: So being broke is okay, right?
12:39
[SPEAKER_02]: Like it was okay to be broke because we didn't never had much anyway.
12:44
[SPEAKER_02]: It takes a while for it to really kick in and to break through when you start to realize the purpose of money.
12:52
[SPEAKER_01]: Yeah, think about the people that are standing in line for Jordan's and their $250 sneakers.
13:00
[SPEAKER_01]: I'm willing to bet that most of those people don't have a thousand dollars to their name, but they're willing to spend 25% of all they have on some sneakers.
13:13
[SPEAKER_01]: And I was there.
13:15
[SPEAKER_01]: I remember saving up for a pair of shoes that I wanted.
13:19
[SPEAKER_01]: It is not like saving up in a separate account as like as soon as I got it like if I could pay my rent And I got 250 more dollars.
13:26
[SPEAKER_01]: I'm going to get the Jordan right as a flaw to be a thinking isn't it Do you remember being there and now you were never there.
13:34
[SPEAKER_00]: I didn't grow up you have money
13:38
[SPEAKER_00]: I wasn't in a class.
13:39
[SPEAKER_00]: Tell me more.
13:40
[SPEAKER_01]: Mm-hmm.
13:40
[SPEAKER_01]: That was coming out.
13:43
[SPEAKER_02]: I like this episode.
13:44
[SPEAKER_00]: So, I was always raised and you have to be investing in yourself.
13:48
[SPEAKER_00]: So, I was at piano lessons at 5 a.m. Because you have to be the cream of the cream.
13:53
[SPEAKER_00]: I was at minority.
13:54
[SPEAKER_00]: I was a woman.
13:55
[SPEAKER_00]: So, you are already born behind the eighth ball.
13:56
[SPEAKER_00]: You got to be ten times as good as your counterpart.
13:59
[SPEAKER_00]: So, I never had free time on the summer.
14:01
[SPEAKER_00]: I'm in piano.
14:03
[SPEAKER_00]: etiquette school.
14:03
[SPEAKER_00]: I'm in pageants.
14:04
[SPEAKER_00]: I'm in swim.
14:05
[SPEAKER_00]: I've all of my free time was taken up doing something to make me a better person to be able to compete with the competition.
14:13
[SPEAKER_00]: So I didn't have the luxury of doing all that and then when it comes to, you know, spending, it was like, you got to spend money to invest in yourself.
14:20
[SPEAKER_00]: So come on.
14:21
[SPEAKER_01]: Correct.
14:22
[SPEAKER_00]: Correct.
14:25
[SPEAKER_01]: So when your ex was like spinning on his mind.
14:27
[SPEAKER_00]: In saying, because in my mind, I got to have at least six months to a year, a living expenses say, I'm always looking for what's the future going to hold if, if a rainy day hit, can I carry all of this load?
14:39
[SPEAKER_00]: What am I having that's going to make me money?
14:41
[SPEAKER_00]: And all these cars, and they keep coming.
14:43
[SPEAKER_00]: This is like, it doesn't make any sense, which is where the friction comes.
14:47
[SPEAKER_00]: So this, I knew it was wrong from day one.
14:50
[SPEAKER_00]: I wasn't raised that way.
14:52
[SPEAKER_00]: My dad was very conservative, so we were told you don't want to look like money.
14:56
[SPEAKER_00]: You want to actually have the money in the bank.
14:59
[SPEAKER_00]: So those who look like money probably don't have it.
15:03
[SPEAKER_00]: Because if I'm on Instagram showing me the private jet, clearly I'm not used to writing a private jet.
15:09
[SPEAKER_00]: If you could get a jet, it's nothing new.
15:11
[SPEAKER_00]: So, I was raised, you don't have to look the part, you need to be the part.
15:14
[SPEAKER_00]: When you walk into the room, you should have more money in the bank than what your bag is.
15:21
[SPEAKER_00]: So, I was raised totally different.
15:23
[SPEAKER_01]: Hmm.
15:24
[SPEAKER_01]: So, did you have friends that weren't raised that way, and maybe have the culture consult, or have you ever been in that situation?
15:31
[SPEAKER_00]: I do have friends, and I don't want to...
15:35
[SPEAKER_01]: Younger, younger, were you like, did you understand that they were doing something wrong?
15:39
[SPEAKER_00]: Yes.
15:40
[SPEAKER_00]: because it was totally different than what I had.
15:44
[SPEAKER_00]: And my life was different than what there was.
15:46
[SPEAKER_00]: You know, we had the house with the pool when I had a nanny, how all these things been in is real.
15:50
[SPEAKER_00]: Okay, well, you don't have all these things because you're probably thinking this way.
15:55
[SPEAKER_00]: My friends didn't have money.
15:57
[SPEAKER_00]: They're just playing outside all day.
15:59
[SPEAKER_00]: You know, I'm going from piano in this and Girl Scouts in this and I'm like, I don't have any free time.
16:04
[SPEAKER_00]: You don't need any free time, you need investment yourself, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,
16:15
[SPEAKER_01]: Wow, what was your experience growing up with money?
16:19
[SPEAKER_01]: And so you grew up, well, how'd you grow up?
16:21
[SPEAKER_02]: I grew up in a Bronx.
16:24
[SPEAKER_02]: The poorest version that anybody has in their mind was me.
16:29
[SPEAKER_02]: I had a fire in the house where my mom and us four lived.
16:34
[SPEAKER_02]: We had to go move back into my grandmother's house.
16:37
[SPEAKER_02]: By God's grace, she had a house for us to move back into.
16:41
[SPEAKER_02]: my uncle fell on hard times.
16:44
[SPEAKER_02]: So him, his wife and his two kids had to go back to grandma's house.
16:49
[SPEAKER_02]: That's why I really don't like when people sell grandma's house.
16:51
[SPEAKER_02]: I was raised in grandma's house.
16:53
[SPEAKER_02]: There was a project up the street and a project down the street.
16:57
[SPEAKER_02]: They used to tease us because we lived in a private house, but they didn't know it was 13 of us in the private house.
17:03
[SPEAKER_02]: And just like every other black family in America, I had the sick aunt that was in the living room with the oxygen machine that just don't switch to what her out there.
17:15
[SPEAKER_02]: So it was just like, it was negative, it was nasty.
17:19
[SPEAKER_02]: And that's probably the reason I don't like to argue because it was a lot of friction.
17:23
[SPEAKER_02]: It was like,
17:24
[SPEAKER_02]: everybody was angry, everybody fell, right?
17:27
[SPEAKER_02]: And um, there was no, it was we were weak to weak.
17:32
[SPEAKER_02]: We were well fair, normal life or did you were uncomfortable saying, I don't want to do this.
17:38
[SPEAKER_02]: No, it was the best time of my life.
17:40
[SPEAKER_02]: And that's why I say the best things in life are free.
17:43
[SPEAKER_02]: I just think about this, you guys remember you used to go see your cousins when you were young, you run up to them, give them a big hug, you couldn't wait till your cousins came around or your best friend.
17:52
[SPEAKER_02]: I live with my cousins and my brothers and sisters, so what was the best time of my life?
17:56
[SPEAKER_02]: And that's why I really say all the time, the best things in life are free.
17:59
[SPEAKER_02]: Although we will pour...
18:02
[SPEAKER_02]: We kind of made it and fell on hard times so the mindset of making it was still there.
18:07
[SPEAKER_02]: My mom grew up We grew up on welfare, but which we got our welfare food.
18:14
[SPEAKER_02]: She certainly shared it with the rest of the community because she had this abundance mindset And as I got older I realized like we all though we were in poor a poor environment Mentally we weren't poor the abundance mindset like I remember having a carry water melon home
18:31
[SPEAKER_02]: and she chopped the watermelon up and shared it with all my friends.
18:34
[SPEAKER_02]: I'm like, what?
18:35
[SPEAKER_02]: I just dry just drugged that thing home.
18:36
[SPEAKER_02]: My arms still hurt.
18:37
[SPEAKER_02]: You just gave it away.
18:39
[SPEAKER_02]: She's like, yeah, yeah, yeah, we'll be fine.
18:40
[SPEAKER_02]: Right.
18:41
[SPEAKER_02]: So...
18:43
[SPEAKER_02]: The abundance concept and mindset was always in my household.
18:47
[SPEAKER_02]: Like my house was the place where people would come when you fell on hard times.
18:51
[SPEAKER_02]: Like there was always a plate for you.
18:54
[SPEAKER_02]: So like, fiscally, financially we were poor.
18:59
[SPEAKER_02]: But the mindset was a mindset of abundance.
19:01
[SPEAKER_02]: Like she always shared, she always gave.
19:04
[SPEAKER_02]: I grew up that way.
19:06
[SPEAKER_02]: And blessings of course came back to her, right?
19:09
[SPEAKER_02]: All four of her kids graduated college.
19:11
[SPEAKER_02]: We turned out to be fairly well, pretty good.
19:13
[SPEAKER_02]: She ended up being a happy person where I imagine now you got four people, four kids with money that just shower you and pamper you and letting her, the end of her life was phenomenal.
19:23
[SPEAKER_02]: everybody praised her like the kids were groomed to like praise grandma right so she had a phenomenal life but us giving us having an abundance mindset and not a lack mindset we all were able to flourish and do well because we weren't mentally poor yeah so are we so we're saying and I think we're
19:52
[SPEAKER_01]: You didn't grow up poor, right?
19:57
[SPEAKER_01]: What did you see in terms of as you're growing up, whether it's younger, college, adult, or whatever?
20:03
[SPEAKER_01]: What did you see the difference is between maybe some of your friends, family, that were poor, and you couldn't understand why they think that way, or did things that way?
20:14
[SPEAKER_00]: Um, one thing would be, like you said earlier, spending their last, so come Easter, they about to be decked out, right?
20:22
[SPEAKER_00]: But then when they can't pay their car, no, they're going to ask for money, whether if you just didn't buy the Easter outfit, like you would, you would have the money.
20:31
[SPEAKER_00]: And I didn't make sense to you, it didn't register.
20:33
[SPEAKER_00]: It didn't, it doesn't register, um,
20:36
[SPEAKER_00]: whenever they get money like I'll have friends that will get money in the second they get some money they want to just spend because they feel like I'll never have this opportunity again to be able to buy x, y, and z versus if you would just save the money and over time you will be able to
20:52
[SPEAKER_00]: get it says like they think I'll never get it again so I'm gonna spin it all because I'm never gonna live this life again versus if you just keep on trekking and doing something to better yourself you will eventually have to have this every single day so but no matter how much how much I say it or try to break through to them they just don't they don't see it that way.
21:12
[SPEAKER_02]: That's so good.
21:12
[SPEAKER_02]: When you know people don't realize when you sacrifice and you save and you wait When you actually do that thing you really get to do it better.
21:23
[SPEAKER_00]: Exactly.
21:23
[SPEAKER_02]: Yeah, so here's an example like like let's just say You what you spend all your money going to let's just say a sporting event right you spend your last
21:35
[SPEAKER_02]: And you might sit like the middle.
21:37
[SPEAKER_02]: You might sit top row, nosebleeds, whatever.
21:39
[SPEAKER_02]: What you just spent all your money that you should not spend to go, or I hate to say this to the Beyonce fans.
21:45
[SPEAKER_02]: Some of y'all, like some of y'all spend a y'all last to go to that concert, right?
21:50
[SPEAKER_02]: And they sitting in the nosebleeds and they got the cowboy outfit and everything, guys I love Beyonce, please.
21:55
[SPEAKER_02]: This is just an example.
21:57
[SPEAKER_02]: However, if they just didn't go to that one, if they saved, they invested, they did everything that you recommend, right?
22:06
[SPEAKER_02]: When they do actually have it within their budget to go, that concert experience is gonna be so much better.
22:13
[SPEAKER_02]: You're actually gonna be able to sit in a front where you could actually see Beyonce, right?
22:17
[SPEAKER_02]: You probably be able to get to sit in a seat in a suite,
22:20
[SPEAKER_02]: where you got better views, better service, you don't wait in line, you got food, drinks, whatever, at your disposal.
22:27
[SPEAKER_02]: But for some reason, our people just can't wait until we can actually afford it.
22:33
[SPEAKER_02]: But if we did, and we waited till we could afford it, it's gonna be 10 times better.
22:37
[SPEAKER_01]: But what if we don't believe that we'll ever be able to afford it?
22:40
[SPEAKER_02]: That's the problem, that's the lack mindset.
22:43
[SPEAKER_00]: So what I'm hearing is poor really isn't a dollar amount, poor is really a mindset.
22:49
[SPEAKER_00]: It doesn't matter where you are financially, but when you think a certain way, even if you do have the money, eventually you're going to become poor because of what you're thinking and how you're acting with money.
22:59
[SPEAKER_01]: Yeah, some athletes are rich poor people.
23:02
[SPEAKER_01]: Correct.
23:03
[SPEAKER_01]: That they never, they got the money.
23:06
[SPEAKER_01]: They won't have it long because they're still the brain still says I'm living in a hood and if I got some money I remember and the chance that's what I mean and this was really really dope I didn't see him for a while and I don't know if he's doing whatever he was doing He came back to this town to our town and he had some money So ice cream truck comes and We're all just hanging out and we're like, oh, I'm gonna get some ice cream.
23:33
[SPEAKER_01]: He's like, oh, it's because of ice cream
23:36
[SPEAKER_01]: And he's buying everybody ice cream and I couldn't believe it.
23:41
[SPEAKER_01]: I've never experienced it.
23:42
[SPEAKER_01]: Like one of my friends is like, yo, get what you want.
23:45
[SPEAKER_01]: You get what you want.
23:46
[SPEAKER_01]: I'm like This is crazy, right?
23:50
[SPEAKER_01]: Is he?
23:50
[SPEAKER_01]: Don't our muscles going to call?
23:52
[SPEAKER_01]: I mean at the time the chocolate taco was two bucks $1.00 like that.
23:57
[SPEAKER_01]: So it wasn't that much, but I saw him do that fast forward
24:02
[SPEAKER_01]: That process never changes if he went to be a basketball player, get a contract NFL.
24:10
[SPEAKER_01]: It's like, come on, y'all, we all go into the club.
24:13
[SPEAKER_01]: And I've seen people who have money, they bring everybody to the club, and we get the bottles, and I take everything.
24:20
[SPEAKER_01]: I remember, I felt the almost like an obligation
24:27
[SPEAKER_01]: And if I'm hanging out with some people that like we're going out to dinner, I feel the obligation.
24:32
[SPEAKER_01]: Once I'm dining, I had to be like, yeah, stop doing that.
24:35
[SPEAKER_01]: Because I was still of the same mindset that whoever has the most spends it, it actually killed me.
24:42
[SPEAKER_01]: It killed me.
24:45
[SPEAKER_02]: See it's a transition.
24:47
[SPEAKER_02]: There's a gap when you go from poor to rich and what I like about the country, the outer country and where we are today, you can go from poor to rich and rich people go from rich to poor.
24:59
[SPEAKER_02]: But there is a learning, I'll call it a learning curve.
25:03
[SPEAKER_02]: But it's something about
25:05
[SPEAKER_02]: being able to do that.
25:06
[SPEAKER_02]: And as you told that story, my neighborhood has a pizza shop that everybody goes.
25:11
[SPEAKER_02]: So it's called Nix Pizza's on Gunhill Road in a Bronx.
25:14
[SPEAKER_02]: Like the whole Bronx goes there, right?
25:17
[SPEAKER_02]: I remember finally having money and I would go to the pizza store and I would buy everybody, just random people, I buy everybody pizza.
25:25
[SPEAKER_02]: There's like a feeling of making it, a feeling of helping, blessing other people.
25:30
[SPEAKER_02]: Like there's some things we, there's some levels
25:35
[SPEAKER_02]: that you have to just go through when you're breaking that barrier.
25:40
[SPEAKER_02]: I don't know if there's no fun.
25:45
[SPEAKER_02]: All right, there's no fun in the journey if you don't make some mistakes.
25:51
[SPEAKER_02]: Like there's no direct path where people just get it right.
25:56
[SPEAKER_02]: I think there's some humanality to go from rich to poor because now you're not poor anymore.
26:00
[SPEAKER_02]: It feels so much better.
26:02
[SPEAKER_02]: Yeah.
26:03
[SPEAKER_00]: but the trap will be if you're if your circle is the one that's always depending on you eventually you're going to be depleted and I think Savannah James had a really good point she's on a podcast and she says that she flies first business first class and her friend doesn't if she has to always you know bankroll her friend even well I don't think she'll have to go for it but I'm saying if you're always a person having a bankroll everything
26:27
[SPEAKER_00]: eventually when you need something you may not have it so I think if you're in a circle where okay this time I pay next time you pay it's it's if it's reciprocated it's one thing if you're always caring the load eventually the the load is going to bring you.
26:40
[SPEAKER_01]: Here's my thought process on that though if
26:45
[SPEAKER_01]: If I got it, and it's like one person, they're right on me.
26:50
[SPEAKER_01]: I'm taking care of that.
26:51
[SPEAKER_00]: Everything goes on.
26:52
[SPEAKER_01]: Yeah, I mean.
26:54
[SPEAKER_00]: Every time we go somewhere, not just groups.
26:56
[SPEAKER_01]: And that's different, but yes.
27:00
[SPEAKER_02]: Yes, you know, one person is like that's not one like me.
27:04
[SPEAKER_02]: That's for him.
27:05
[SPEAKER_01]: Yeah, but I'm not With me my best friend a lot now.
27:09
[SPEAKER_01]: I'm taking care of the bill.
27:12
[SPEAKER_01]: That's my best friend.
27:14
[SPEAKER_02]: You feel me will I will say this so
27:19
[SPEAKER_02]: And when I go off to them, I pay for a friend, right?
27:22
[SPEAKER_02]: Like, who gets to build doesn't matter amongst me and my friend?
27:25
[SPEAKER_02]: It literally doesn't matter.
27:26
[SPEAKER_02]: You pay like no one cares amongst my real core friend group.
27:31
[SPEAKER_02]: However, I have been told by my wife when I went out with her and her friends, like, I don't need to pay all the time.
27:42
[SPEAKER_02]: But I would just pay just because we have it, like there are real friend group people that she's gone to college, which she's got Battlestar, like, she's like, no, no, we don't, we don't really do that.
27:53
[SPEAKER_02]: They're well, they're a group of wealthy women.
27:55
[SPEAKER_02]: She's like, we actually just split.
27:56
[SPEAKER_02]: We all order whatever we want, but we actually just actually split it up.
28:02
[SPEAKER_02]: And I used to think splitting a bill was a broke mine, and a broke thing.
28:12
[SPEAKER_02]: has no problem splitting the bill.
28:15
[SPEAKER_02]: Like why would $3,000 going to hear a car just because you have it?
28:19
[SPEAKER_02]: And we all ate.
28:20
[SPEAKER_02]: Oh, right.
28:21
[SPEAKER_01]: I'm talking about Alan Gardner.
28:22
[SPEAKER_02]: Or whatever.
28:23
[SPEAKER_02]: No, no, like whatever.
28:24
[SPEAKER_02]: I don't think they would split an olive oil.
28:26
[SPEAKER_02]: And boy, go to like, win style.
28:28
[SPEAKER_02]: Like, like, let's just say they went to whatever for brunch or whatever.
28:32
[SPEAKER_02]: They actually split the bill.
28:34
[SPEAKER_02]: Sometimes I would comment, I'd be like,
28:37
[SPEAKER_02]: Or I even just hang out and eat, we're all hanging out and eat, and I'm just like, let me just knock this out, and she would be like, you got a chill.
28:44
[SPEAKER_01]: But that was some new money stuff I was on though.
28:48
[SPEAKER_02]: There's a new level, there's a new thing, that's a level, new money is a level that we really do have to identify, and I'm going to say be sensitive to, because it's a feeling like you finally got money,
29:02
[SPEAKER_02]: Even with my son, I referenced the younger one because the older one just grew up so mild mannered and so comfortable in his skin that he doesn't care for a whole lot, because he just knew we had like what we need.
29:15
[SPEAKER_02]: But the younger one,
29:17
[SPEAKER_02]: As he started getting money, like he would spend it so fast.
29:21
[SPEAKER_02]: He's buying Colone.
29:22
[SPEAKER_02]: He's buying bags.
29:23
[SPEAKER_02]: He's taking, he's flying first class.
29:25
[SPEAKER_02]: I'm like, like, like, what are you doing?
29:28
[SPEAKER_02]: Like, why?
29:29
[SPEAKER_02]: You don't even have that much.
29:30
[SPEAKER_02]: Why?
29:33
[SPEAKER_02]: But I had to just take a step back and understand, like this is his first time.
29:39
[SPEAKER_02]: And he's 20, really having money.
29:42
[SPEAKER_02]: So like he's never really gone to the store and just been able to pick out and buy stuff.
29:49
[SPEAKER_02]: So there's a level, a new money level that we do have there.
29:52
[SPEAKER_02]: Just be sensitive to and kind of like understand you're going to blow some.
29:58
[SPEAKER_01]: Yeah.
29:58
[SPEAKER_02]: So I stopped kind of stopping looking at his account a little bit.
30:01
[SPEAKER_01]: I mean, I really like this.
30:03
[SPEAKER_01]: And you're best determination, and we can't, you know, we won't be able to like cover every situation.
30:10
[SPEAKER_01]: Well, what is the difference between how rich people pick their friends and poor people pick their friends?
30:18
[SPEAKER_00]: I think rich people are gonna pick their friends.
30:22
[SPEAKER_00]: One, what do we have in common?
30:24
[SPEAKER_00]: Do we like each other number two?
30:25
[SPEAKER_00]: Do we kind of have the same goals in mind?
30:28
[SPEAKER_00]: Like, I can't just be sitting around running my mouth, talking about what happened on teen.
30:33
[SPEAKER_00]: Like, I don't have time for that.
30:34
[SPEAKER_00]: I like friends that we are busy.
30:36
[SPEAKER_00]: I can call you a two onion.
30:37
[SPEAKER_00]: I got off the Zoom girl.
30:38
[SPEAKER_00]: And then, like, any friends that are gold oriented versus we just have some conversation.
30:43
[SPEAKER_00]: We just run our mouth.
30:44
[SPEAKER_00]: We just keyking about something that's not gonna be productive.
30:47
[SPEAKER_01]: That's a good answer.
30:50
[SPEAKER_01]: Back in the day, I picked my friends based on us having the same problem.
30:57
[SPEAKER_01]: Or the same addiction.
30:58
[SPEAKER_01]: Right.
30:58
[SPEAKER_01]: We just like the same thing.
30:59
[SPEAKER_01]: Right.
31:00
[SPEAKER_01]: But now, maybe it's because I got a family and I got times for a whole lot of new friends anyway.
31:06
[SPEAKER_01]: But the people that I connect with now are people that are moving in the same direction.
31:11
[SPEAKER_01]: Does that mean it's not genuine?
31:14
[SPEAKER_01]: It's not as genuine of a friendship?
31:16
[SPEAKER_00]: I think it can be very genuine.
31:19
[SPEAKER_00]: My friends now that we are on the same path, I'm truly there for like, they can call me for anything.
31:25
[SPEAKER_00]: But everything is goal oriented.
31:28
[SPEAKER_00]: I'm always, we're always checking each other around goals or holding each other, camera will grow.
31:31
[SPEAKER_00]: You said you was going to do X, Y and Z. I ain't seen you, boom, boom, boom.
31:34
[SPEAKER_00]: So I think it can be genuine.
31:37
[SPEAKER_01]: What if they're both here, one falls, and they're not on that level of stimulating conversation, they don't understand it, they've kind of slipped into a poverty situation and a poverty mindset, is the friendship still as tight.
31:55
[SPEAKER_00]: I think you can still be friends.
31:57
[SPEAKER_00]: I have friends that have my, I have friends that don't have my.
31:59
[SPEAKER_00]: The conversation is a little different.
32:03
[SPEAKER_00]: And when I'm in like my busy zone, like I'm just trying to not just this is out, I may not have as much time for that person.
32:11
[SPEAKER_00]: I know the conversation is going to just be like a, not getting me ready to go.
32:16
[SPEAKER_00]: That makes sense, right?
32:17
[SPEAKER_00]: So there will be a little difference, but I think you can still be friends with, you can have all different types of friends.
32:22
[SPEAKER_01]: For sure, absolutely.
32:24
[SPEAKER_02]: Charles, what do you think?
32:26
[SPEAKER_02]: I was, my initial thought was alignment and interest, but I was in poor and rich or just period.
32:34
[SPEAKER_02]: Just period, like half of my friend group is broke, it's still poor.
32:40
[SPEAKER_02]: But we have like this genuine friendship where money does not matter.
32:44
[SPEAKER_02]: like it doesn't play a role in our friendship.
32:48
[SPEAKER_02]: It just doesn't exist.
32:49
[SPEAKER_02]: So we're talking about the same stuff we always talk about, whether somebody had the people that have it in the people that don't, our conversation is the same.
32:59
[SPEAKER_02]: I haven't changed my friends.
33:00
[SPEAKER_02]: And I really do love my friends like to the core because they've watched me go from nothing to something.
33:09
[SPEAKER_02]: They haven't changed and I haven't changed either.
33:12
[SPEAKER_02]: When I think about new, I do, and it's tough for new people to break into my friend group, like my friend circle, I do think of interest and alignment, right?
33:25
[SPEAKER_02]: Like if I'm gonna spend some time on a phone with somebody, it needs to kind of like be serving a purpose.
33:31
[SPEAKER_02]: So I don't even know if I would call that a friend, but,
33:34
[SPEAKER_02]: Like you said, if you're in your busy season and some new person you might want to talk about sports, you kind of like, like, I got a jump on a call in 20 minutes, like we saw, right?
33:45
[SPEAKER_02]: But if they're talking about like this new feature or webinar fuel, that suits with Zool.
33:50
[SPEAKER_02]: That could auto rape you, like, I tell me more, like, like, like, like, like, could I come over, right?
33:56
[SPEAKER_02]: So alignment interest is different, but I don't use the word friendship lightly, like in no capacity.
34:02
[SPEAKER_02]: So it takes a while to get into my friend group for me to call somebody a friend.
34:10
[SPEAKER_01]: I mean, I may look at people, I use friend probably a little more loosely than most people.
34:16
[SPEAKER_02]: Are you a friend?
34:17
[SPEAKER_02]: Yeah.
34:17
[SPEAKER_02]: It's my friend.
34:17
[SPEAKER_02]: Yeah.
34:18
[SPEAKER_01]: We're cool.
34:20
[SPEAKER_01]: I mean, I spend a lot of time with certain people and some people, and I think you hit the nail on the head with the interest in alignment, because wherever I'm at right now, you may not align with that.
34:33
[SPEAKER_01]: Now I have some friends that I grew up with, and those are my people, my people.
34:37
[SPEAKER_01]: Correct.
34:39
[SPEAKER_01]: So we're all going to have some sort of interest in a line and it doesn't matter if they where they work on depot, it doesn't matter.
34:47
[SPEAKER_01]: That's your friend.
34:48
[SPEAKER_01]: But here's the caveat though.
34:50
[SPEAKER_01]: Even if I grew up with them and we've been friends for a long time, for me to be interested in the friendship, there has to be some sort of growth element.
35:02
[SPEAKER_01]: has to be some sort of progression for me.
35:04
[SPEAKER_01]: I mean, I just don't like my, my, my best friend Brandon, he is progressing in his career like does like like coaching and things that nature not been able to see him have like, uh, uh, he's growing that space bigger and bigger, but even if it's not financially, it's like I want to ask some group, some friends that we think about the progression in our marriage and being better husbands.
35:29
[SPEAKER_01]: that's interesting to me.
35:30
[SPEAKER_01]: There has to be some sort of element, yes, of growth.
35:35
[SPEAKER_02]: So the commonality, it doesn't have to be growth for me because I have a friend who's like just trying to figure it out in his 40s.
35:43
[SPEAKER_02]: I have another friend that's a school teacher.
35:46
[SPEAKER_02]: Like they borrow this one guy borrows my car as they was to drive like do something nice, right?
35:53
[SPEAKER_02]: We we are like core friends.
35:58
[SPEAKER_02]: He's a school.
35:58
[SPEAKER_02]: He doesn't have a desire to be a multi-millionaire.
36:02
[SPEAKER_02]: He doesn't have a desire Like money of a desire to be a better person.
36:06
[SPEAKER_01]: Yes, that's what we talked about in relationships.
36:09
[SPEAKER_01]: Right, right?
36:10
[SPEAKER_01]: That's the be some element that I want to be a better person.
36:13
[SPEAKER_01]: Yeah, I can't
36:16
[SPEAKER_01]: I don't know how I can, I can love them for sure, but I don't know if I would be as close or tight with someone who just wants to drink and go to the club and that's the meaning of life for you.
36:33
[SPEAKER_01]: No matter how long we know each other, I'm much I love you, I don't know if I can
36:37
[SPEAKER_01]: I'm not aligned with that.
36:38
[SPEAKER_02]: Yeah, I would agree with you a hundred percent, but in certain situations, we're fortunate and we're blessed to be where we are for sure.
36:49
[SPEAKER_02]: And my opinion, right, we may represent the one percent.
36:52
[SPEAKER_02]: So we do have to have some sensitivity towards the people that don't have the vision, the people that don't have the heart.
36:59
[SPEAKER_02]: like we took a jump, a leap that 90% of the people will not will never take this so many people that are scared to leave their job.
37:10
[SPEAKER_02]: We're scared to work a job.
37:12
[SPEAKER_02]: You will never work a job.
37:14
[SPEAKER_02]: Like you will never answer your phone somebody say, Dave, where are you your late?
37:17
[SPEAKER_02]: Like that will never happen.
37:19
[SPEAKER_02]: Joy, like no ever, right?
37:22
[SPEAKER_02]: We're very different.
37:23
[SPEAKER_02]: So I'm sensitive to that.
37:25
[SPEAKER_02]: Like some people are going to be workers.
37:27
[SPEAKER_02]: So I'm going to be low end workers.
37:29
[SPEAKER_02]: So I'm going to have vices.
37:30
[SPEAKER_02]: What I learned though.
37:33
[SPEAKER_02]: is that money doesn't give you money doesn't excuse you from life-lifing, right, you went through a domestic issue with divorce and your family.
37:42
[SPEAKER_02]: That same issue is happening to the people that are struggling that can't figure it out financially, right?
37:49
[SPEAKER_02]: So we do have a commonality in life that we share.
37:53
[SPEAKER_02]: But, um,
37:54
[SPEAKER_02]: Yeah, there's just like a few core values that I wouldn't rock with as far as like a friend.
38:01
[SPEAKER_02]: You got to take care of the family, you got to be like a good husband, you got to be a good person.
38:05
[SPEAKER_02]: Right, you can't just be doing file things to people and like we're not hanging out.
38:13
[SPEAKER_01]: I don't know how, if we got a lot in common, if you're not progressing.
38:18
[SPEAKER_01]: And some air, again, it doesn't have to be financially.
38:21
[SPEAKER_02]: Yeah.
38:21
[SPEAKER_01]: It could be I have some sort of goal to, you know, do some sort of non-profit community.
38:29
[SPEAKER_01]: I want to help my community, or I want to help the black person's plate, or I want to be a better husband or wife, or I want to be a better father.
38:38
[SPEAKER_01]: that I can connect with you on some things.
38:40
[SPEAKER_01]: It doesn't mean that I don't love you.
38:41
[SPEAKER_01]: I just, we're not gonna talk a lot.
38:44
[SPEAKER_02]: Yeah.
38:44
[SPEAKER_01]: You know what we're gonna talk about?
38:46
[SPEAKER_01]: Right.
38:47
[SPEAKER_01]: And what's the obligation?
38:48
[SPEAKER_01]: Right.
38:49
[SPEAKER_01]: So, next question.
38:52
[SPEAKER_01]: The difference, what's the difference between how rich people and poor people look at education?
38:59
[SPEAKER_00]: Now, I'm going to let me first define education because education doesn't have to be scholastic.
39:07
[SPEAKER_00]: I think education can be, you know, selling in a trade, selling in so kind of business thing.
39:12
[SPEAKER_00]: Because like, I'm not, I'm not helping, I'm not selling going to college.
39:16
[SPEAKER_00]: I mean, you ain't got to call the college.
39:17
[SPEAKER_01]: You don't have a business.
39:18
[SPEAKER_00]: But educating,
39:20
[SPEAKER_00]: becoming a better person, learning a skill set, learning something is number one of the priorities of the priority, where I think poor people aren't really worried about education.
39:31
[SPEAKER_00]: It's learning at all.
39:32
[SPEAKER_00]: And all, just learning period, so whether it's going to college, whether it's developing a skill set, a trade, a talent,
39:39
[SPEAKER_00]: Taking that money to invest back into whatever you have that can make you some money and can get you out of the hood Besides I would say sport to be an exception thing.
39:47
[SPEAKER_00]: I think poor people in sports will they'll they'll go into that But there's nothing going else into talent or anything else.
39:55
[SPEAKER_00]: I think that is the difference rich people are very much into
39:58
[SPEAKER_00]: investing in themselves, mentorship, I've gotten a mission to her program, have even opened up the book or the course, but just to get access to the people in the room, I know if I network with this person, I can take myself to a whole other level.
40:10
[SPEAKER_00]: So I think education is very important when it comes to the rich poor not as much.
40:15
[SPEAKER_02]: Charles.
40:16
[SPEAKER_02]: Get them joy.
40:17
[SPEAKER_02]: Get them joy.
40:20
[SPEAKER_02]: Who that was good?
40:21
[SPEAKER_02]: I love that because as we're as we're learning and as we're growing we're realizing like the diminishing value and college education but that's the scholastic piece.
40:34
[SPEAKER_02]: there is more value in education that could be potentially outside of college that's practical education that you can apply.
40:45
[SPEAKER_02]: Poor people and I'll just reference my two sons going to college.
40:51
[SPEAKER_02]: they didn't go with the purpose.
40:53
[SPEAKER_02]: They went because it was the next level thing to do after you graduate high school.
40:58
[SPEAKER_02]: I think wealthy people go to college with the purpose, right?
41:03
[SPEAKER_02]: So in the instance where the family may own a business, they may be sending their kids to school to learn marketing.
41:12
[SPEAKER_02]: They may be sending their kids to college to do taxes, right?
41:15
[SPEAKER_02]: You're going to go
41:15
[SPEAKER_02]: do taxes, you're going to come home and now you're going to do the taxes for the business.
41:19
[SPEAKER_02]: So now we don't have to pay a tax a CPA to do our books, you can go learn and there's a purpose there, same thing with law, right?
41:27
[SPEAKER_02]: Every business needs attorneys, you know, we need lawyers at some degree.
41:33
[SPEAKER_02]: So a wealthy family may send their kids to school, to law school, for the purpose of coming back and pouring into the family business.
41:42
[SPEAKER_01]: I would definitely say probably, and again, the word is just education, whether it's, you don't like you say it's scholastic or street education, I think successful people look at education as necessary and poor people look at education as optional.
42:00
[SPEAKER_01]: or I'll learn what I'm interested in learning.
42:03
[SPEAKER_01]: I think rich people look at what can I learn.
42:10
[SPEAKER_01]: Even if I don't necessarily like the process of learning, I'll tell you what's in my mind, and you should read this book.
42:15
[SPEAKER_02]: I don't even know books.
42:18
[SPEAKER_01]: Even if you're not good at reading books, you shouldn't look at like reading books as something negative.
42:23
[SPEAKER_01]: Right, good at reading, and I think that's, I think that's the major difference between rich and poor is how they look at education and progression.
42:31
[SPEAKER_01]: I need to know.
42:33
[SPEAKER_01]: I want to learn something to get to get to the next level, and I think for people to think they know everything.
42:38
[SPEAKER_01]: I know I did.
42:39
[SPEAKER_01]: What I didn't have anything, I thought I knew everything.
42:42
[SPEAKER_01]: And now the more I have, I'm like, dang, it's so much I need to learn.
42:46
[SPEAKER_00]: Or I think also, when we talk about learning, I think Rishiba are more inclined to wanting to learn.
42:53
[SPEAKER_00]: something that may sound too good to be true.
42:55
[SPEAKER_00]: We're poor people like us in here opportunity.
42:57
[SPEAKER_00]: Oh I'm not gonna work.
42:58
[SPEAKER_00]: That sounds too good to be true.
42:59
[SPEAKER_00]: We're like well, let me tell me some more Let me kind of do some rich with the learn to make sure well if it sounds too good Let me go ahead and just try it because it's too good.
43:06
[SPEAKER_00]: I want some of that two versus a poor person What might well like more just dismiss the opportunity not knowing anything about it But I'm just no it just doesn't sound right
43:16
[SPEAKER_02]: Here's what I learned as I grew financially.
43:19
[SPEAKER_02]: Poor people look for guarantees whereas rich people or wealthy people look for opportunities.
43:28
[SPEAKER_02]: Meaning, if you tell me about an opportunity to do something that's going to advance me financially, I don't need a guarantee.
43:36
[SPEAKER_02]: It came from Dave, Dave is on a money, Dave does this thing like how much
43:42
[SPEAKER_02]: Where do I need to be?
43:44
[SPEAKER_02]: What time do I need to be there?
43:46
[SPEAKER_02]: I don't need it.
43:47
[SPEAKER_02]: There's no such thing as a guarantee.
43:49
[SPEAKER_02]: So I'm just going to work.
43:50
[SPEAKER_02]: So it's not.
43:51
[SPEAKER_02]: But if Dave is telling me, look, I'm going to help you with your podcast.
43:54
[SPEAKER_02]: I'm going to help you set the studio up.
43:55
[SPEAKER_02]: It's going, I just want the opportunity.
43:58
[SPEAKER_02]: I'm not going to say, Dave, when am I getting my 100,000 followers?
44:02
[SPEAKER_02]: Like, I'm not giving you a check or following you talking about wins by 100s, K coming, right?
44:08
[SPEAKER_02]: How am I going to be mine?
44:09
[SPEAKER_02]: No.
44:10
[SPEAKER_02]: Dave, did it?
44:12
[SPEAKER_02]: Dave said, let's do it.
44:13
[SPEAKER_02]: Dave, to me, I'm thinking, Dave gave me a chance.
44:17
[SPEAKER_02]: Correct.
44:17
[SPEAKER_02]: Go in with it.
44:18
[SPEAKER_02]: Right.
44:19
[SPEAKER_02]: Joy is like, Charles, let's do this thing.
44:20
[SPEAKER_02]: I got an opportunity for you.
44:22
[SPEAKER_02]: We'll do whatever.
44:24
[SPEAKER_02]: I'm going to really show you how you can structure out your businesses, structure, your trust to make sure that your succession plan is in place.
44:31
[SPEAKER_02]: It's going to cost me xyz.
44:34
[SPEAKER_02]: I'm just paying for the opportunity to insulate and protect the wealth that I've worked so hard and creative for.
44:43
[SPEAKER_02]: I'm paying for the opportunity.
44:45
[SPEAKER_02]: If I find out that there was a chink in the armor and it was misstructured in any kind of way, I'm cool with it because it was a great investment for me because I got some of the way, right?
44:56
[SPEAKER_02]: And I'm happy.
44:57
[SPEAKER_02]: And if my pod didn't get to 100,000 subscribers in one year, I'm cool because I would have learned so much from that opportunity, maybe I got to 80.
45:07
[SPEAKER_01]: Yeah.
45:08
[SPEAKER_02]: And maybe you don't even need a hundred thousand followers to make a hundred thousand dollars.
45:14
[SPEAKER_02]: Right.
45:15
[SPEAKER_02]: So while poor person is looking for the hundred thousand subscriber guarantee from David Shantz, the rich person's like, how could I make the hundred thousand dollars?
45:24
[SPEAKER_01]: This is good.
45:25
[SPEAKER_01]: This is good.
45:26
[SPEAKER_01]: Yeah, I want to close it out with here from both of you.
45:30
[SPEAKER_01]: Just
45:30
[SPEAKER_01]: kind of wrapping this conversation in some of the things that you think that somebody is watching this.
45:38
[SPEAKER_01]: I don't think I've ever been, I've not had money, but I've always been on a process of progression.
45:47
[SPEAKER_01]: Like even like a sitting around smoking weed and drinking with my friends and hanging out and it was always like something that was like Hey, I don't want to do this.
45:56
[SPEAKER_01]: I want to do something else or I want to grow.
45:58
[SPEAKER_01]: I want to make somebody I want to like I want to go after it And I've I've seen plenty of people who didn't really have any ambitions or desires in this world to just grow And but but I do want to hear kind of both of you being able to put a bow on this conversation
46:18
[SPEAKER_01]: talking to someone who may find themselves struggling and they might list this conversation like, I have somebody's traits that they're talking about, but I don't want to be there anymore.
46:29
[SPEAKER_01]: So I'll start with you, Charles.
46:32
[SPEAKER_01]: How would you like just wrap up this conversation for someone to say, you know, I kind of understand the difference between rich and poor now?
46:43
[SPEAKER_02]: I would say find someone whose lifestyle you like and follow what they do from a characteristic perspective, see if you could get a hold of how they manage and operate their finances, figure out, see how close you can get to them, sometimes it could be mentorship, but find out their lifestyle, their characteristics, and some of their money habits, and just mimic that.
47:08
[SPEAKER_02]: Often times, if we're
47:11
[SPEAKER_02]: There's a saying, he who has your ear has your future.
47:16
[SPEAKER_02]: So we're in the information era where information like people are openly sharing information and how they became successful.
47:24
[SPEAKER_02]: Find the person whose life you would like to have and try and get to know them and follow them as best as you can.
47:32
[SPEAKER_01]: That's good.
47:33
[SPEAKER_02]: That's good.
47:34
[SPEAKER_02]: Joy.
47:35
[SPEAKER_00]: I would say educate yourself, so whether it's mentorship, whether it's a book on finance, it's like, if in this conversation you're like, wait a minute, I'm on the other side.
47:46
[SPEAKER_00]: That's fine, because I was on there too at one point.
47:49
[SPEAKER_00]: I had to go and actually go read a book and learn about money and finance.
47:53
[SPEAKER_00]: I was doing things all the way out of order.
47:55
[SPEAKER_00]: And so,
47:56
[SPEAKER_00]: The first step, I think, is realize you have a problem, the second step is now doing something to fix the problem, and it may cost you some money to get in a mentorship or get a course, I always say, don't look at the cost to get in, look at the cost of staying in the same.
48:12
[SPEAKER_00]: If you don't want your bank account or your lack of savings or whatever the case, if you don't want to be the same spot six months from now, you need to be actively doing something to change that and that's going to be educating mentorship, doing something different.
48:25
[SPEAKER_00]: Keep doing the same thing, wanting a new result, that's the definition of insanity.
48:31
[SPEAKER_00]: So you got to take initiative to educate yourself and then go change some of these bad thought processes or behaviors.
48:37
[SPEAKER_01]: I love that.
48:38
[SPEAKER_01]: Hey, listen, if you have some poor habits, I want you to try to identify some of them.
48:42
[SPEAKER_01]: Look at how you spend, look at who you hang around, look at some of the conversations that you're having, because I don't want you to live there forever, and I do believe you can change your situation by changing who you are and the things that you feed yourself.
48:56
[SPEAKER_01]: So, one great way,
48:59
[SPEAKER_01]: The change of mind says, make sure you follow these two people on the cast today.
49:04
[SPEAKER_01]: Charles, let everybody know how they can find you and how they can work with you.
49:10
[SPEAKER_02]: At Charles J. Nune on Instagram and I just still happen to be doing a three-day challenge called the myfirstpropertychallenge.com.
49:18
[SPEAKER_02]: You can find it at myfirstpropertychallenge.com.
49:21
[SPEAKER_02]: And you work with me over three intensive days during this challenge and I'm going to challenge you to change where you are your current financial future to take you where you want to be.
49:30
[SPEAKER_00]: Let's go.
49:50
[SPEAKER_00]: See you at the bank.com.
49:52
[SPEAKER_01]: See you at the bank.
49:53
[SPEAKER_01]: Let's see you at the bank.
49:54
[SPEAKER_01]: Man, thank y'all so much for tuning in.
49:56
[SPEAKER_01]: Please, please, please.
49:57
[SPEAKER_01]: If you enjoyed anything that was said today, please send them a DM.
50:01
[SPEAKER_01]: Let them know you enjoyed it.
50:03
[SPEAKER_01]: Let them know that you know what your takeaway was, but also go get you some social proof, meaning go build something and build it really, really big.
50:11
[SPEAKER_01]: But come back to your community and teach them how you did it.
50:14
[SPEAKER_01]: It's the only way our community grows.
50:15
[SPEAKER_01]: We out.
50:16
[SPEAKER_01]: Peace.